Schedule II: Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2025

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Schedule II: Valuation and Qualifying Accounts

Schedule II: Valuation and Qualifying Accounts

Medical Properties Trust, Inc. and MPT Operating Partnership, L.P.

December 31, 2025

			Additions					Deductions
Year Ended December 31,	Balance at Beginning of Year(1)		Charged Against Operations(1)			Charged to Other Accounts		Net Recoveries/ Write-offs(1)				Balance at End of Year(1)
	(In thousands)
2025	$	2,165,754	$	602,464	(2)	$	—	$	(426,550	)	(3)	$	2,341,668
2024	$	878,318	$	2,783,001	(4)	$	—	$	(1,495,565	)	(5)	$	2,165,754
2023	$	393,057	$	755,627	(6)	$	—	$	(270,366	)	(7)	$	878,318

(1)Includes real estate impairment reserves, allowances for doubtful accounts, straight-line rent reserves, credit loss reserves, tax valuation allowances, and other reserves.

(2)Represents approximately $170 million of increase in credit loss reserves on loans and financing-type investments (primarily related to Prospect as further described in Note 3 to Item 8 of this Annual Report on Form 10-K), an approximate $350 million increase in accounts receivable reserves, and an approximate $10 million increase to real estate impairment reserves. Also includes approximately $70 million of increase in valuation allowances to reserve against our net deferred tax assets in 2025.

(3)Includes a $191 million decrease in accounts receivable reserves and an approximate $130 million decrease in credit loss reserves on loans (primarily related to Prospect as further described in Note 3 to Item 8 of this Annual Report on Form 10-K, as well as the Vibra restructuring transaction), and an approximate $100 million decrease in real estate impairment reserves related to disposals in 2025.

(4)Represents $1.5 billion increase in credit loss reserves on loans and financing-type investments (primarily related to Steward and Prospect as further described in Note 3 to Item 8 of this Annual Report on Form 10-K) and negative fair value adjustment on our investment in the international joint venture, $86 million increase to real estate impairment reserves, approximately $500 million increase to equity investment impairment reserves, and a $384 million increase in accounts receivable reserves. Also includes an approximately $302 million increase in valuation allowances to reserve against our net deferred tax assets in 2024.

(5)Includes a $520 million decrease in accounts receivable reserves and $826 million decrease in credit loss reserves on loans (primarily related to the full release of our claims in Steward as a result of the global settlement), along with a $138 million decrease to our equity investment reserves (primarily related to the write-off of our Steward equity investment), and a $12 million decrease in real estate impairment reserves related to disposals in 2024.

(6)Represents $261 million increase in accounts receivable reserves, $259 million increase in straight-line rent receivable reserves, $90 million increase to equity investment impairment reserves, and $89 million increase to real estate impairment reserves, as further described in Note 3 to Item 8 of this Annual Report on Form 10-K. Also includes an increase of $10 million in credit loss reserves and an approximately $47 million increase in valuation allowances to reserve against our net deferred tax assets in 2023.

(7)Includes a $170 million decrease in real estate impairment reserves, an approximately $35 million decrease in credit loss reserves related to transitioning properties back to a tenant in exchange for a first-lien mortgage, and a $50 million recovery of previously reserved interest satisfied as part of the “Prospect Transaction” as disclosed in Note 3 to Item 8 of this Annual Report on Form 10-K. Also includes an approximately $11 million write-off of previously reserved accounts receivable.