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Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Operating activities      
Net income $ 376,401 $ 1,018,477 $ 291,238
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 156,575 141,492 131,979
Amortization of deferred financing costs and debt discount 8,881 7,363 6,521
Straight-line rent revenue and other (138,806) (100,594) (80,741)
Share / (Unit)-based compensation expense 32,188 16,505 9,949
Gain from sale of real estate and other (41,560) (719,392) (7,431)
Impairment charges 21,031 48,007  
Straight-line rent and other write-off 15,539 18,002 5,340
Debt refinancing and unutilized financing costs 6,106   32,574
Other adjustments 4,637 (3,768) (1,204)
Changes in:      
Interest and rent receivables 12,906 46,498 (21,116)
Other assets (4,992) (18,051) (5,318)
Accounts payable and accrued expenses 39,630 (5,596) 2,494
Deferred revenue 5,581 145 (2,050)
Net cash provided by operating activities 494,117 449,088 362,235
Investing activities      
Cash paid for acquisitions and other related investments (4,565,594) (1,430,995) (2,246,788)
Net proceeds from sale of real estate 111,766 1,513,666 64,362
Principal received on loans receivable 920 885,917 8,480
Investment in loans receivable (54,088) (212,002) (19,338)
Construction in progress and other (83,798) (53,967) (73,812)
Capital additions and other investments, net (293,163) (138,441) (94,970)
Net cash (used for) provided by investing activities (4,883,957) 564,178 (2,362,066)
Financing activities      
Proceeds from term debt, net of discount 3,048,424 759,735 2,355,280
Payments of term debt     (1,038,221)
Payment of deferred financing costs (30,186)   (32,794)
Revolving credit facilities, net (65,736) (811,718) 550,415
Distributions paid (411,697) (363,906) (326,729)
Lease deposits and other obligations to tenants (12,260) (20,606) 27,525
Proceeds from sale of common shares, net of offering costs 2,533,210 94,239 547,785
Other financing activities (19,871) (3,614) (12,984)
Net cash provided by (used for) financing activities 5,041,884 (345,870) 2,070,277
Increase in cash, cash equivalents, and restricted cash for the year 652,044 667,396 70,446
Effect of exchange rate changes (6,478) (17,218) 16,920
Cash, cash equivalents, and restricted cash at beginning of year 822,425 172,247 84,881
Cash, cash equivalents, and restricted cash at end of year 1,467,991 822,425 172,247
Interest paid, including capitalized interest of $3,936 in 2019, $1,480 in 2018, and $840 in 2017 211,163 221,779 149,798
Supplemental schedule of non-cash financing activities:      
Dividends declared, unpaid 138,161 95,419 89,403
Cash, cash equivalents, and restricted cash are comprised of the following:      
Cash and cash equivalents at beginning of period 820,868 171,472 83,240
Restricted cash, included in Other assets at beginning of period $ 1,557 $ 775 $ 1,641
Restricted Cash and Cash Equivalents, 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 $ 822,425 $ 172,247 $ 84,881
Cash and cash equivalents at end of period 1,462,286 820,868 171,472
Restricted cash, included in Other assets at end of period $ 5,705 $ 1,557 $ 775
Restricted Cash and Cash Equivalents, Asset, Statement of Financial Position [Extensible List] us-gaap:OtherAssets us-gaap:OtherAssets us-gaap:OtherAssets
Cash, cash equivalents, and restricted cash at end of year $ 1,467,991 $ 822,425 $ 172,247
MPT Operating Partnership, L.P. [Member]      
Operating activities      
Net income 376,401 1,018,477 291,238
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 156,575 141,492 131,979
Amortization of deferred financing costs and debt discount 8,881 7,363 6,521
Straight-line rent revenue and other (138,806) (100,594) (80,741)
Share / (Unit)-based compensation expense 32,188 16,505 9,949
Gain from sale of real estate and other (41,560) (719,392) (7,431)
Impairment charges 21,031 48,007  
Straight-line rent and other write-off 15,539 18,002 5,340
Debt refinancing and unutilized financing costs 6,106   32,574
Other adjustments 4,637 (3,768) (1,204)
Changes in:      
Interest and rent receivables 12,906 46,498 (21,116)
Other assets (4,992) (18,051) (5,318)
Accounts payable and accrued expenses 39,630 (5,596) 2,494
Deferred revenue 5,581 145 (2,050)
Net cash provided by operating activities 494,117 449,088 362,235
Investing activities      
Cash paid for acquisitions and other related investments (4,565,594) (1,430,995) (2,246,788)
Net proceeds from sale of real estate 111,766 1,513,666 64,362
Principal received on loans receivable 920 885,917 8,480
Investment in loans receivable (54,088) (212,002) (19,338)
Construction in progress and other (83,798) (53,967) (73,812)
Capital additions and other investments, net (293,163) (138,441) (94,970)
Net cash (used for) provided by investing activities (4,883,957) 564,178 (2,362,066)
Financing activities      
Proceeds from term debt, net of discount 3,048,424 759,735 2,355,280
Payments of term debt     (1,038,221)
Payment of deferred financing costs (30,186)   (32,794)
Revolving credit facilities, net (65,736) (811,718) 550,415
Distributions paid (411,697) (363,906) (326,729)
Lease deposits and other obligations to tenants (12,260) (20,606) 27,525
Proceeds from sale of units, net of offering costs 2,533,210 94,239 547,785
Other financing activities (19,871) (3,614) (12,984)
Net cash provided by (used for) financing activities 5,041,884 (345,870) 2,070,277
Increase in cash, cash equivalents, and restricted cash for the year 652,044 667,396 70,446
Effect of exchange rate changes (6,478) (17,218) 16,920
Cash, cash equivalents, and restricted cash at beginning of year 822,425 172,247 84,881
Cash, cash equivalents, and restricted cash at end of year 1,467,991 822,425 172,247
Interest paid, including capitalized interest of $3,936 in 2019, $1,480 in 2018, and $840 in 2017 211,163 221,779 149,798
Supplemental schedule of non-cash financing activities:      
Dividends declared, unpaid 138,161 95,419 89,403
Cash, cash equivalents, and restricted cash are comprised of the following:      
Cash and cash equivalents at beginning of period 820,868 171,472 83,240
Restricted cash, included in Other assets at beginning of period $ 1,557 $ 775 $ 1,641
Restricted Cash and Cash Equivalents, 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 $ 822,425 $ 172,247 $ 84,881
Cash and cash equivalents at end of period 1,462,286 820,868 171,472
Restricted cash, included in Other assets at end of period $ 5,705 $ 1,557 $ 775
Restricted Cash and Cash Equivalents, Asset, Statement of Financial Position [Extensible List] us-gaap:OtherAssets us-gaap:OtherAssets us-gaap:OtherAssets
Cash, cash equivalents, and restricted cash at end of year $ 1,467,991 $ 822,425 $ 172,247