XML 77 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flow (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Operating activities      
Net income $ 97,215 $ 90,077 $ 26,714
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 38,818 35,593 35,477
Amortization and write-off of deferred financing costs and debt discount 3,559 3,457 9,289
Premium on extinguishment of debt     13,091
Direct financing lease (interest) accretion (5,774) (3,104)  
Straight-line rent revenue (11,265) 7,911 5,277
Share (Unit)-based compensation expense 8,832 7,637 6,983
Impairment charge     564
(Gain) loss from sale of real estate (7,659) (16,369) (5,431)
Provision for uncollectible receivables and loans     1,499
Straight-line rent write-off 1,457 6,456 2,470
Payment of discount on extinguishment of debt     (4,850)
Other adjustments (70) 538 1,058
Decrease (increase) in:      
Interest and rent receivable (13,211) (17,261) (6,118)
Other assets 1,855 91 142
Accounts payable and accrued expenses 23,867 9,201 5,354
Deferred revenue 3,177 (2,698) 170
Net cash provided by operating activities 140,801 105,309 79,270
Investing Activities      
Cash paid for acquisitions and other related investments (654,922) (621,490) (278,963)
Net proceeds from sale of real estate 32,409 71,202 41,130
Principal received on loans receivable 7,249 10,931 4,289
Investment in loans receivable (3,746) (1,293) (861)
Construction in progress (41,452) (44,570) (22,999)
Other investments, net (52,115) (31,908) (8,217)
Net cash (used for) provided by investing activities (712,577) (617,128) (265,621)
Financing Activities      
Proceeds from term debt, net of discount 424,580 300,000 450,000
Payments of term debt (11,249) (232) (246,262)
Payment of deferred financing costs (9,760) (6,247) (15,454)
Revolving credit facilities, net (20,000) 35,400 89,600
Distributions paid (120,309) (103,952) (89,601)
Lease deposits and other obligations to tenants 3,231 (11,436) 8,621
Proceeds from sale of common shares/units, net of offering costs 313,331 233,048  
Other   (177) (6,235)
Net cash provided by (used in) financing activities 579,824 446,404 190,669
Increase (decrease) in cash and cash equivalents for the year 8,048 (65,415) 4,318
Effect of exchange rate changes 620      
Cash and cash equivalents at beginning of period 37,311 102,726 98,408
Cash and cash equivalents at end of period 45,979 37,311 102,726
Interest paid, including capitalized interest of $1,729 in 2013, $1,596 in 2012, and $896 in 2011 58,110 51,440 38,463
Supplemental schedule of non-cash investing activities:      
Real estate acquired via assumption of mortgage loan     (14,592)
Loan conversion to equity interest   1,648  
Mortgage loan issued from sale of real estate   3,650  
Supplemental schedule of non-cash financing activities:      
Assumption of mortgage loan (as part of real estate acquired)     14,592
Dividends declared, not paid 35,778 27,786 22,407
MPT Operating Partnership, L.P. [Member]
     
Operating activities      
Net income 97,215 90,077 26,731
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 38,818 35,593 35,477
Amortization and write-off of deferred financing costs and debt discount 3,559 3,457 9,289
Premium on extinguishment of debt     13,091
Direct financing lease (interest) accretion (11,265) (3,104)  
Straight-line rent revenue (5,774) (8,309) (7,142)
Share (Unit)-based compensation expense 8,832 7,637 6,983
Impairment charge     564
(Gain) loss from sale of real estate (7,659) (16,369) (5,431)
Provision for uncollectible receivables and loans     1,499
Straight-line rent write-off 1,457 6,456 2,470
Payment of discount on extinguishment of debt     (4,850)
Other adjustments (70) 538 1,058
Decrease (increase) in:      
Interest and rent receivable (13,211) (17,261) (6,118)
Other assets 1,855 91 142
Accounts payable and accrued expenses 23,867 9,201 5,337
Deferred revenue 3,177 (2,698) 170
Net cash provided by operating activities 140,801 105,309 79,270
Investing Activities      
Cash paid for acquisitions and other related investments (654,922) (621,490) (278,963)
Net proceeds from sale of real estate 32,409 71,202 41,130
Principal received on loans receivable 7,249 10,931 4,289
Investment in loans receivable (3,746) (1,293) (861)
Construction in progress (41,452) (44,570) (22,999)
Other investments, net (52,115) (31,908) (8,217)
Net cash (used for) provided by investing activities (712,577) (617,128) (265,621)
Financing Activities      
Proceeds from term debt, net of discount 424,580 300,000 450,000
Payments of term debt (11,249) (232) (246,262)
Payment of deferred financing costs (9,760) (6,247) (15,454)
Revolving credit facilities, net (20,000) 35,400 89,600
Distributions paid (120,309) (103,952) (89,601)
Lease deposits and other obligations to tenants 3,231 (11,436) 8,621
Proceeds from sale of common shares/units, net of offering costs 313,331 233,048  
Other   (177) (6,235)
Net cash provided by (used in) financing activities 579,824 446,404 190,669
Increase (decrease) in cash and cash equivalents for the year 8,048 (65,415) 4,318
Effect of exchange rate changes 620      
Cash and cash equivalents at beginning of period 37,311 102,726 98,408
Cash and cash equivalents at end of period 45,979 37,311 102,726
Interest paid, including capitalized interest of $1,729 in 2013, $1,596 in 2012, and $896 in 2011 58,110 51,440 38,463
Supplemental schedule of non-cash investing activities:      
Real estate acquired via assumption of mortgage loan     (14,592)
Loan conversion to equity interest   1,648  
Mortgage loan issued from sale of real estate   3,650  
Supplemental schedule of non-cash financing activities:      
Assumption of mortgage loan (as part of real estate acquired)     14,592
Dividends declared, not paid $ 35,778 $ 27,786 $ 22,407