XML 20 R6.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Operating activities    
Net income $ 203,060 $ 141,981
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 74,441 59,825
Amortization of deferred financing costs and debt discount 3,590 3,139
Direct financing lease interest accretion (4,743) (4,690)
Straight-line rent revenue (41,664) (30,173)
Share / (Unit)-based compensation expense 6,725 4,377
Gain from sale of real estate, net (25,618) (7,413)
Straight-line rent and other write-off 13,294 1,117
Debt refinancing costs   14,380
Other adjustments (14,718) (5,735)
Changes in:    
Interest and rent receivables (7,285) (10,786)
Accounts payable and accrued expenses (10,603) (11,126)
Net cash provided by operating activities 196,479 154,896
Investing activities    
Cash paid for acquisitions and other related investments (273,728) (600,781)
Net proceeds from sale of real estate 221,931 64,335
Principal received on loans receivable 262,862 5,188
Investment in loans receivable (169,435) (3,574)
Construction in progress and other (22,875) (36,002)
Other investments, net (20,400) (67,101)
Net cash used for investing activities (1,645) (637,935)
Financing activities    
Proceeds from term debt   955,280
Payments of term debt   (675,279)
Revolving credit facilities, net (4,618) (39,911)
Distributions paid (180,813) (151,692)
Lease deposits and other obligations to tenants (28,001) 5,790
Proceeds from sale of common shares, net of offering costs   548,063
Other financing activities (2,328) (16,543)
Net cash (used for) provided by financing activities (215,760) 625,708
(Decrease) increase in cash, cash equivalents and restricted cash for period (20,926) 142,669
Effect of exchange rate changes (3,477) 9,588
Cash, cash equivalents and restricted cash at beginning of period 172,247 84,882
Cash, cash equivalents and restricted cash at end of period 147,844 237,139
Interest paid 115,245 63,371
Supplemental schedule of non-cash financing activities:    
Distributions declared, unpaid 91,547 87,519
Cash, cash equivalents and restricted cash are comprised of the following:    
Cash and cash equivalents at beginning of period 171,472 83,240
Restricted cash, included in Other assets at beginning of period $ 775 $ 1,642
Restricted cash and cash equivalents, noncurrent, asset, statement of financial position [Extensible List] us-gaap:OtherAssets us-gaap:OtherAssets
Cash, cash equivalents and restricted cash at beginning of period $ 172,247 $ 84,882
Cash and cash equivalents at end of period 146,569 236,364
Restricted cash, included in Other assets at end of period $ 1,275 $ 775
Restricted cash and cash equivalents, noncurrent, asset, statement of financial position [Extensible List] us-gaap:OtherAssets us-gaap:OtherAssets
Cash, cash equivalents and restricted cash at end of period $ 147,844 $ 237,139
MPT Operating Partnership, L.P. [Member]    
Operating activities    
Net income 203,060 141,981
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 74,441 59,825
Amortization of deferred financing costs and debt discount 3,590 3,139
Direct financing lease interest accretion (4,743) (4,690)
Straight-line rent revenue (41,664) (30,173)
Share / (Unit)-based compensation expense 6,725 4,377
Gain from sale of real estate, net (25,618) (7,413)
Straight-line rent and other write-off 13,294 1,117
Debt refinancing costs   14,380
Other adjustments (14,718) (5,735)
Changes in:    
Interest and rent receivables (7,285) (10,786)
Accounts payable and accrued expenses (10,603) (11,126)
Net cash provided by operating activities 196,479 154,896
Investing activities    
Cash paid for acquisitions and other related investments (273,728) (600,781)
Net proceeds from sale of real estate 221,931 64,335
Principal received on loans receivable 262,862 5,188
Investment in loans receivable (169,435) (3,574)
Construction in progress and other (22,875) (36,002)
Other investments, net (20,400) (67,101)
Net cash used for investing activities (1,645) (637,935)
Financing activities    
Proceeds from term debt   955,280
Payments of term debt   (675,279)
Revolving credit facilities, net (4,618) (39,911)
Distributions paid (180,813) (151,692)
Lease deposits and other obligations to tenants (28,001) 5,790
Proceeds from sale of common shares, net of offering costs   548,063
Other financing activities (2,328) (16,543)
Net cash (used for) provided by financing activities (215,760) 625,708
(Decrease) increase in cash, cash equivalents and restricted cash for period (20,926) 142,669
Effect of exchange rate changes (3,477) 9,588
Cash, cash equivalents and restricted cash at beginning of period 172,247 84,882
Cash, cash equivalents and restricted cash at end of period 147,844 237,139
Interest paid 115,245 63,371
Supplemental schedule of non-cash financing activities:    
Distributions declared, unpaid 91,547 87,519
Cash, cash equivalents and restricted cash are comprised of the following:    
Cash and cash equivalents at beginning of period 171,472 83,240
Restricted cash, included in Other assets at beginning of period $ 775 $ 1,642
Restricted cash and cash equivalents, noncurrent, asset, statement of financial position [Extensible List] us-gaap:OtherAssets us-gaap:OtherAssets
Cash, cash equivalents and restricted cash at beginning of period $ 172,247 $ 84,882
Cash and cash equivalents at end of period 146,569 236,364
Restricted cash, included in Other assets at end of period $ 1,275 $ 775
Restricted cash and cash equivalents, noncurrent, asset, statement of financial position [Extensible List] us-gaap:OtherAssets us-gaap:OtherAssets
Cash, cash equivalents and restricted cash at end of period $ 147,844 $ 237,139