|
Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
|
12 Months Ended |
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
| Operating activities |
|
|
|
| Net income |
$ 23,012 |
$ 36,367 |
$ 32,733 |
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
| Depreciation and amortization |
26,312 |
26,309 |
26,535 |
| Amortization and write-off of deferred financing costs and debt discount |
6,110 |
5,824 |
7,961 |
| Premium paid on extinguishment of debt |
3,833 |
|
|
| Straight-line rent revenue |
(4,932) |
(9,536) |
(9,402) |
| Share-based compensation expense |
6,616 |
5,488 |
6,386 |
| (Gain) loss from sale of real estate |
(10,566) |
(278) |
(9,305) |
| Deferred revenue and fee income |
(4,393) |
(847) |
(7,583) |
| Provision for uncollectible receivables and loans |
14,400 |
|
5,700 |
| Rent and interest income added to loans |
|
(921) |
(5,556) |
| Straight-line rent write-off |
3,694 |
1,111 |
14,037 |
| Payment of interest on early prepayment of debt |
(7,324) |
|
|
| Other adjustments |
(30) |
(246) |
(57) |
| Decrease (increase) in: |
|
|
|
| Interest and rent receivable |
(5,490) |
(2,433) |
(4,392) |
| Other assets |
(566) |
126 |
5,249 |
| Accounts payable and accrued expenses |
(3,177) |
1,700 |
4,757 |
| Deferred revenue |
13,138 |
87 |
2,854 |
| Net cash provided by operating activities |
60,637 |
62,751 |
69,917 |
| Investing activities |
|
|
|
| Real estate acquired |
(137,808) |
(421) |
(430,710) |
| Proceeds from sale of real estate |
97,669 |
15,000 |
89,959 |
| Principal received on loans receivable |
90,486 |
4,305 |
71,941 |
| Investment in loans receivable |
(11,637) |
(23,243) |
(95,567) |
| Construction in progress |
(6,638) |
|
|
| Other investments |
(9,291) |
(7,777) |
(4,286) |
| Net cash provided by (used for) investing activities |
22,781 |
(12,136) |
(368,663) |
| Financing activities |
|
|
|
| Proceeds from term debt, net of discount |
148,500 |
|
119,001 |
| Payments of term debt |
(216,765) |
(1,232) |
(860) |
| Payment of deferred financing costs |
(6,796) |
232 |
(6,072) |
| Revolving credit facilities, net |
(137,200) |
(55,800) |
38,014 |
| Distributions paid |
(77,087) |
(61,649) |
(65,098) |
| Lease deposits and other obligations to tenants |
3,667 |
3,390 |
2,963 |
| Proceeds from sale of common shares, net of offering costs |
288,066 |
68,003 |
128,331 |
| Other |
(2,702) |
|
|
| Net cash provided by (used in) financing activities |
(317) |
(47,056) |
216,279 |
| Increase (decrease) in cash and cash equivalents for the year |
83,101 |
3,559 |
(82,467) |
| Cash and cash equivalents at beginning of year |
15,307 |
11,748 |
94,215 |
| Cash and cash equivalents at end of year |
98,408 |
15,307 |
11,748 |
| Interest paid, including capitalized interest of $63 in 2011, $63 in 2010, and $- in 2009 |
29,679 |
33,272 |
31,277 |
| Supplemental schedule of non-cash financing activities: |
|
|
|
| Other common stock transactions |
|
5 |
48 |
|
MPT Operating Partnership, L.P. [Member]
|
|
|
|
| Operating activities |
|
|
|
| Net income |
23,087 |
36,430 |
32,733 |
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
| Depreciation and amortization |
26,312 |
26,309 |
26,535 |
| Amortization and write-off of deferred financing costs and debt discount |
6,110 |
5,824 |
7,961 |
| Premium paid on extinguishment of debt |
3,833 |
|
|
| Straight-line rent revenue |
(4,932) |
(9,536) |
(9,402) |
| Share-based compensation expense |
6,616 |
5,488 |
6,386 |
| (Gain) loss from sale of real estate |
(10,566) |
(278) |
(9,305) |
| Deferred revenue and fee income |
(4,393) |
(847) |
(7,583) |
| Provision for uncollectible receivables and loans |
14,400 |
|
5,700 |
| Rent and interest income added to loans |
|
(921) |
(5,556) |
| Straight-line rent write-off |
3,694 |
1,111 |
14,037 |
| Payment of interest on early prepayment of debt |
(7,324) |
|
|
| Other adjustments |
(30) |
(246) |
(57) |
| Decrease (increase) in: |
|
|
|
| Interest and rent receivable |
(5,490) |
(2,433) |
(4,392) |
| Other assets |
(566) |
126 |
5,249 |
| Accounts payable and accrued expenses |
(3,252) |
1,642 |
4,778 |
| Deferred revenue |
13,138 |
87 |
2,854 |
| Net cash provided by operating activities |
60,637 |
62,756 |
69,938 |
| Investing activities |
|
|
|
| Real estate acquired |
(137,808) |
(421) |
(430,710) |
| Proceeds from sale of real estate |
97,669 |
15,000 |
89,959 |
| Principal received on loans receivable |
90,486 |
4,305 |
71,941 |
| Investment in loans receivable |
(11,637) |
(23,243) |
(95,567) |
| Construction in progress |
(6,638) |
|
|
| Other investments |
(9,291) |
(7,777) |
(4,286) |
| Net cash provided by (used for) investing activities |
22,781 |
(12,136) |
(368,663) |
| Financing activities |
|
|
|
| Proceeds from term debt, net of discount |
148,500 |
|
119,001 |
| Payments of term debt |
(216,765) |
(1,232) |
(860) |
| Payment of deferred financing costs |
(6,796) |
232 |
(6,072) |
| Revolving credit facilities, net |
(137,200) |
(55,800) |
38,014 |
| Distributions paid |
(77,087) |
(61,649) |
(65,098) |
| Lease deposits and other obligations to tenants |
3,667 |
3,390 |
2,963 |
| Proceeds from sale of common shares, net of offering costs |
288,066 |
68,003 |
128,331 |
| Other |
(2,702) |
|
|
| Net cash provided by (used in) financing activities |
(317) |
(47,056) |
216,279 |
| Increase (decrease) in cash and cash equivalents for the year |
83,101 |
3,564 |
(82,446) |
| Cash and cash equivalents at beginning of year |
15,307 |
11,743 |
94,189 |
| Cash and cash equivalents at end of year |
98,408 |
15,307 |
11,743 |
| Interest paid, including capitalized interest of $63 in 2011, $63 in 2010, and $- in 2009 |
29,679 |
33,272 |
31,277 |
| Supplemental schedule of non-cash financing activities: |
|
|
|
| Other common stock transactions |
|
$ 5 |
$ 48 |