XML 27 R8.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Operating activities      
Net income $ 1,018,477 $ 291,238 $ 225,937
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 141,492 131,979 97,601
Amortization of deferred financing costs and debt discount 7,363 6,521 7,613
Direct financing lease interest accretion (9,783) (9,933) (9,120)
Straight-line rent revenue (90,811) (70,808) (41,567)
Share / (Unit)-based compensation expense 16,505 9,949 7,942
Gain from sale of real estate and other, net (719,392) (7,431) (61,224)
Impairment charges 48,007   7,229
Straight-line rent and other write-off 18,002 5,340 3,063
Debt refinancing costs   32,574 22,539
Other adjustments (3,768) (1,204) 3,563
Changes in:      
Interest and rent receivables 46,498 (21,116) (13,247)
Other assets (18,051) (5,318) (19,202)
Accounts payable and accrued expenses (5,596) 2,494 41,583
Deferred revenue 145 (2,050) (8,872)
Net cash provided by operating activities 449,088 362,235 263,838
Investing activities      
Cash paid for acquisitions and other related investments (1,430,995) (2,246,788) (1,682,409)
Net proceeds from sale of real estate 1,513,666 64,362 198,767
Principal received on loans receivable 885,917 8,480 906,757
Investment in loans receivable (212,002) (19,338) (109,027)
Construction in progress and other (53,967) (73,812) (171,209)
Investment in unsecured senior notes     (50,000)
Proceeds from sale of unsecured notes     50,000
Other investments, net (138,441) (94,970) (69,423)
Net cash provided by (used for) investing activities 564,178 (2,362,066) (926,544)
Financing activities      
Proceeds from term debt 759,735 2,355,280 1,000,000
Payments of term debt   (1,038,221) (575,299)
Payment of deferred financing costs   (32,794) (15,468)
Revolving credit facilities, net (811,718) 550,415 (810,000)
Distributions paid (363,906) (326,729) (218,393)
Lease deposits and other obligations to tenants (20,606) 27,525 14,557
Proceeds from sale of common shares, net of offering costs 94,239 547,785 1,173,651
Other financing activities (3,614) (12,984) (16,485)
Net cash (used for) provided by financing activities (345,870) 2,070,277 552,563
Increase (decrease) in cash, cash equivalents, and restricted cash for the year 667,396 70,446 (110,143)
Effect of exchange rate changes (17,218) 16,920 (3,003)
Cash, cash equivalents and restricted cash at beginning of year 172,247 84,881 198,027
Cash, cash equivalents, and restricted cash at end of year 822,425 172,247 84,881
Interest paid, including capitalized interest of $1,480 in 2018, $840 in 2017, and $2,320 in 2016 221,779 149,798 138,770
Supplemental schedule of non-cash financing activities:      
Dividends declared, not paid 95,419 89,403 74,521
Cash, cash equivalents and restricted cash are comprised of the following:      
Cash and cash equivalents at beginning of period 171,472 83,240 195,541
Restricted cash, included in Other assets at beginning of period $ 775 $ 1,641 $ 2,486
Restricted cash and cash equivalents, noncurrent, asset, statement of financial position [Extensible List] us-gaap:OtherAssets us-gaap:OtherAssets us-gaap:OtherAssets
Cash, cash equivalents and restricted cash at beginning of year $ 172,247 $ 84,881 $ 198,027
Cash and cash equivalents at end of period 820,868 171,472 83,240
Restricted cash, included in Other assets at end of period 1,557 775 1,641
Cash, cash equivalents, and restricted cash at end of year 822,425 172,247 84,881
MPT Operating Partnership, L.P. [Member]      
Operating activities      
Net income 1,018,477 291,238 225,937
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 141,492 131,979 97,601
Amortization of deferred financing costs and debt discount 7,363 6,521 7,613
Direct financing lease interest accretion (9,783) (9,933) (9,120)
Straight-line rent revenue (90,811) (70,808) (41,567)
Share / (Unit)-based compensation expense 16,505 9,949 7,942
Gain from sale of real estate and other, net (719,392) (7,431) (61,224)
Impairment charges 48,007   7,229
Straight-line rent and other write-off 18,002 5,340 3,063
Debt refinancing costs   32,574 22,539
Other adjustments (3,768) (1,204) 3,563
Changes in:      
Interest and rent receivables 46,498 (21,116) (13,247)
Other assets (18,051) (5,318) (19,202)
Accounts payable and accrued expenses (5,596) 2,494 41,583
Deferred revenue 145 (2,050) (8,872)
Net cash provided by operating activities 449,088 362,235 263,838
Investing activities      
Cash paid for acquisitions and other related investments (1,430,995) (2,246,788) (1,682,409)
Net proceeds from sale of real estate 1,513,666 64,362 198,767
Principal received on loans receivable 885,917 8,480 906,757
Investment in loans receivable (212,002) (19,338) (109,027)
Construction in progress and other (53,967) (73,812) (171,209)
Investment in unsecured senior notes     (50,000)
Proceeds from sale of unsecured notes     50,000
Other investments, net (138,441) (94,970) (69,423)
Net cash provided by (used for) investing activities 564,178 (2,362,066) (926,544)
Financing activities      
Proceeds from term debt 759,735 2,355,280 1,000,000
Payments of term debt   (1,038,221) (575,299)
Payment of deferred financing costs   (32,794) (15,468)
Revolving credit facilities, net (811,718) 550,415 (810,000)
Distributions paid (363,906) (326,729) (218,393)
Lease deposits and other obligations to tenants (20,606) 27,525 14,557
Proceeds from sale of common shares, net of offering costs 94,239 547,785 1,173,651
Other financing activities (3,614) (12,984) (16,485)
Net cash (used for) provided by financing activities (345,870) 2,070,277 552,563
Increase (decrease) in cash, cash equivalents, and restricted cash for the year 667,396 70,446 (110,143)
Effect of exchange rate changes (17,218) 16,920 (3,003)
Cash, cash equivalents and restricted cash at beginning of year 172,247 84,881 198,027
Cash, cash equivalents, and restricted cash at end of year 822,425 172,247 84,881
Interest paid, including capitalized interest of $1,480 in 2018, $840 in 2017, and $2,320 in 2016 221,779 149,798 138,770
Supplemental schedule of non-cash financing activities:      
Dividends declared, not paid 95,419 89,403 74,521
Cash, cash equivalents and restricted cash are comprised of the following:      
Cash and cash equivalents at beginning of period 171,472 83,240 195,541
Restricted cash, included in Other assets at beginning of period $ 775 $ 1,641 $ 2,486
Restricted cash and cash equivalents, noncurrent, asset, statement of financial position [Extensible List] us-gaap:OtherAssets us-gaap:OtherAssets us-gaap:OtherAssets
Cash, cash equivalents and restricted cash at beginning of year $ 172,247 $ 84,881 $ 198,027
Cash and cash equivalents at end of period 820,868 171,472 83,240
Restricted cash, included in Other assets at end of period 1,557 775 1,641
Cash, cash equivalents, and restricted cash at end of year $ 822,425 $ 172,247 $ 84,881