2024 Q3 Form 10-Q Financial Statement

#000095017024094888 Filed on August 09, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $225.8M $266.6M
YoY Change -26.34% -20.99%
Cost Of Revenue $4.994M $7.663M
YoY Change -23.17% -68.95%
Gross Profit $220.8M $258.9M
YoY Change -26.41% -17.21%
Gross Profit Margin 97.79% 97.13%
Selling, General & Admin $36.63M $35.33M
YoY Change -3.87% -0.78%
% of Gross Profit 16.58% 13.65%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $206.5M $103.9M
YoY Change 156.17% -71.5%
% of Gross Profit 93.5% 40.12%
Operating Expenses $241.5M $137.6M
YoY Change 108.55% -65.61%
Operating Profit -$20.67M $121.3M
YoY Change -111.21% -239.0%
Interest Expense $106.2M $101.4M
YoY Change -0.44% -208.99%
% of Operating Profit 83.6%
Other Income/Expense, Net -$665.0M -$325.0M
YoY Change -1443.92% 2991.72%
Pretax Income -$791.9M -$305.1M
YoY Change -723.77% 59.99%
Income Tax $9.032M $14.56M
% Of Pretax Income
Net Earnings -$801.2M -$320.6M
YoY Change -786.46% 654.33%
Net Earnings / Revenue -354.77% -120.29%
Basic Earnings Per Share -$1.34 -$0.54
Diluted Earnings Per Share -$1.34 -$0.54
COMMON SHARES
Basic Shares Outstanding 600.2M 600.1M
Diluted Shares Outstanding 600.2M 600.1M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $275.6M $606.6M
YoY Change -18.94% 87.18%
Cash & Equivalents $275.6M $606.6M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $961.4M $1.271B
YoY Change -14.85% 15.15%
LONG-TERM ASSETS
Property, Plant & Equipment $11.80B $12.11B
YoY Change -30.02% -29.22%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.751B $1.778B
YoY Change
Other Assets $4.131M $4.615M
YoY Change
Total Long-Term Assets $14.27B $14.92B
YoY Change -20.14% -17.55%
TOTAL ASSETS
Total Short-Term Assets $961.4M $1.271B
Total Long-Term Assets $14.27B $14.92B
Total Assets $15.24B $16.19B
YoY Change -19.83% -15.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $418.3M $446.9M
YoY Change 11.26% 0.44%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $555.0M $606.9M
YoY Change 4.71% 0.76%
LONG-TERM LIABILITIES
Long-Term Debt $9.216B $9.369B
YoY Change -9.27% -8.48%
Other Long-Term Liabilities $24.33M $25.70M
YoY Change -23.96% -48.36%
Total Long-Term Liabilities $9.240B $9.395B
YoY Change -9.31% -8.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $555.0M $606.9M
Total Long-Term Liabilities $9.240B $9.395B
Total Liabilities $9.795B $10.00B
YoY Change -8.62% -8.16%
SHAREHOLDERS EQUITY
Retained Earnings -$3.198B -$2.348B
YoY Change 1386.81% 873.13%
Common Stock $8.579B $8.572B
YoY Change 0.23% 0.28%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.439B $6.190B
YoY Change
Total Liabilities & Shareholders Equity $15.24B $16.19B
YoY Change -19.83% -15.67%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$801.2M -$320.6M
YoY Change -786.46% 654.33%
Depreciation, Depletion And Amortization $206.5M $103.9M
YoY Change 156.17% -71.5%
Cash From Operating Activities $59.19M $35.26M
YoY Change -62.58% -53.93%
INVESTING ACTIVITIES
Capital Expenditures $18.45M $120.8M
YoY Change -64.58% -31.99%
Acquisitions
YoY Change
Other Investing Activities $162.2M $1.323B
YoY Change -1789.64% 132.31%
Cash From Investing Activities $143.8M $1.202B
YoY Change -332.98% 206.8%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -548.1M -853.5M
YoY Change 721.79% 84.82%
NET CHANGE
Cash From Operating Activities 59.19M 35.26M
Cash From Investing Activities 143.8M 1.202B
Cash From Financing Activities -548.1M -853.5M
Net Change In Cash -345.2M 383.9M
YoY Change -1258.34% 5774.76%
FREE CASH FLOW
Cash From Operating Activities $59.19M $35.26M
Capital Expenditures $18.45M $120.8M
Free Cash Flow $40.74M -$85.56M
YoY Change -61.6% -15.38%

Facts In Submission

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mpw Payments For Proceeds From Lease Deposits And Other Obligations To Tenants
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mpw Percentage Of Leased Assets Owned
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us-gaap Prior Period Reclassification Adjustment Description
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<p style="font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Reclassifications</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Certain amounts in the condensed consolidated financial statements for prior periods have been reclassified to conform to the current period presentation.</span></p>
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16000000
CY2023Q1 mpw Number Of Facilities Sold
NumberOfFacilitiesSold
3
CY2024Q2 us-gaap Lessor Operating Lease Renewal Term
LessorOperatingLeaseRenewalTerm
P5Y
mpw Leases Annual Rent Escalations Percentage
LeasesAnnualRentEscalationsPercentage
0.99
CY2024Q2 us-gaap Direct Financing Lease Lease Receivable
DirectFinancingLeaseLeaseReceivable
601406000
CY2023Q4 us-gaap Direct Financing Lease Lease Receivable
DirectFinancingLeaseLeaseReceivable
611669000
CY2024Q2 us-gaap Direct Financing Lease Unguaranteed Residual Asset
DirectFinancingLeaseUnguaranteedResidualAsset
203818000
CY2023Q4 us-gaap Direct Financing Lease Unguaranteed Residual Asset
DirectFinancingLeaseUnguaranteedResidualAsset
203818000
CY2024Q2 mpw Direct Financing Lease Unearned Income And Allowance For Credit Loss
DirectFinancingLeaseUnearnedIncomeAndAllowanceForCreditLoss
559783000
CY2023Q4 mpw Direct Financing Lease Unearned Income And Allowance For Credit Loss
DirectFinancingLeaseUnearnedIncomeAndAllowanceForCreditLoss
571059000
CY2024Q2 us-gaap Direct Financing Lease Net Investment In Lease
DirectFinancingLeaseNetInvestmentInLease
245441000
CY2023Q4 us-gaap Direct Financing Lease Net Investment In Lease
DirectFinancingLeaseNetInvestmentInLease
244428000
CY2024Q2 mpw Other Financing Leases Net Of Allowance For Credit Loss
OtherFinancingLeasesNetOfAllowanceForCreditLoss
936518000
CY2023Q4 mpw Other Financing Leases Net Of Allowance For Credit Loss
OtherFinancingLeasesNetOfAllowanceForCreditLoss
987202000
CY2024Q2 us-gaap Net Investment In Lease
NetInvestmentInLease
1181959000
CY2023Q4 us-gaap Net Investment In Lease
NetInvestmentInLease
1231630000
CY2024Q2 mpw Percentage Of Vacant On Leased Property
PercentageOfVacantOnLeasedProperty
0.003
CY2024Q1 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
225000000
CY2024Q2 us-gaap Real Estate Investments Unconsolidated Real Estate And Other Joint Ventures
RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures
1143231000
CY2023Q4 us-gaap Real Estate Investments Unconsolidated Real Estate And Other Joint Ventures
RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures
1474455000
CY2024Q2 mpw Investments In Unconsolidated Operating Entities
InvestmentsInUnconsolidatedOperatingEntities
635206000
CY2023Q4 mpw Investments In Unconsolidated Operating Entities
InvestmentsInUnconsolidatedOperatingEntities
1778640000
CY2024Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
456592000
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
121972000
CY2024Q2 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
81942000
CY2023Q2 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
362000
CY2024Q2 mpw Financing Receivable Allowances Of Credit Losses Related To Financial Instruments Sold
FinancingReceivableAllowancesOfCreditLossesRelatedToFinancialInstrumentsSold
0
CY2023Q2 mpw Financing Receivable Allowances Of Credit Losses Related To Financial Instruments Sold
FinancingReceivableAllowancesOfCreditLossesRelatedToFinancialInstrumentsSold
-35229000
CY2024Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
538534000
CY2023Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
87105000
CY2023Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
96001000
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
121146000
us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
442533000
us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
1348000
mpw Financing Receivable Allowances Of Credit Losses Related To Financial Instruments Sold
FinancingReceivableAllowancesOfCreditLossesRelatedToFinancialInstrumentsSold
0
mpw Financing Receivable Allowances Of Credit Losses Related To Financial Instruments Sold
FinancingReceivableAllowancesOfCreditLossesRelatedToFinancialInstrumentsSold
-35389000
CY2024Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
538534000
CY2023Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
87105000
CY2024Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
9447186000
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
10109133000
CY2024Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
78122000
CY2023Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
44897000
CY2024Q2 us-gaap Long Term Debt
LongTermDebt
9369064000
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
10064236000
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
1288028000
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
2359504000
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
1600000000
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
758700000
CY2024Q2 mpw Long Term Debt Maturities Repayments Of Principal After Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour
3440954000
CY2024Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
9447186000
mpw Debt Refinancing And Unutilized Financing Costs
DebtRefinancingAndUnutilizedFinancingCosts
3000000
CY2023Q2 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
800000
mpw Percentage Of Dividends Payable On Basis Of Adjusted Operating Funds
PercentageOfDividendsPayableOnBasisOfAdjustedOperatingFunds
0.95
mpw Percentage Of Dividends Payable On Senior Unsecured Notes
PercentageOfDividendsPayableOnSeniorUnsecuredNotes
0.95
mpw Maximum Percentage Of Unencumbered Assets
MaximumPercentageOfUnencumberedAssets
1.50
CY2023Q1 mpw Income Tax Benefit Related To The Initial Loan Impairment
IncomeTaxBenefitRelatedToTheInitialLoanImpairment
5000000
us-gaap Share Based Compensation
ShareBasedCompensation
16200000
CY2024Q2 mpw Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant With Cash Settlement
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrantWithCashSettlement
2000000
us-gaap Share Based Compensation
ShareBasedCompensation
18300000
CY2024Q2 mpw Interest And Rent Receivable
InterestAndRentReceivable
39471000
CY2024Q2 us-gaap Receivables Fair Value Disclosure
ReceivablesFairValueDisclosure
39838000
CY2023Q4 mpw Interest And Rent Receivable
InterestAndRentReceivable
45059000
CY2023Q4 us-gaap Receivables Fair Value Disclosure
ReceivablesFairValueDisclosure
45476000
CY2024Q2 mpw Loans
Loans
1131869000
CY2024Q2 us-gaap Loans Held For Sale Fair Value Disclosure
LoansHeldForSaleFairValueDisclosure
1080617000
CY2023Q4 mpw Loans
Loans
1302727000
CY2023Q4 us-gaap Loans Held For Sale Fair Value Disclosure
LoansHeldForSaleFairValueDisclosure
1202383000
CY2024Q2 us-gaap Long Term Debt
LongTermDebt
9369064000
CY2024Q2 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
6949357000
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
10064236000
CY2023Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
8256465000
CY2024Q2 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
500000000
CY2024Q2 us-gaap Profit Loss
ProfitLoss
-319659000
CY2023Q2 us-gaap Profit Loss
ProfitLoss
-42433000
CY2024Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
976000
CY2023Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-396000
CY2024Q2 mpw Undistributed Earning Allocated To Participating Securities
UndistributedEarningAllocatedToParticipatingSecurities
654000
CY2023Q2 mpw Undistributed Earning Allocated To Participating Securities
UndistributedEarningAllocatedToParticipatingSecurities
469000
CY2024Q2 mpw Net Income Less Participating Securities Share In Earnings
NetIncomeLessParticipatingSecuritiesShareInEarnings
-321289000
CY2023Q2 mpw Net Income Less Participating Securities Share In Earnings
NetIncomeLessParticipatingSecuritiesShareInEarnings
-42506000
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
600057000
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
598344000
CY2024Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0
CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
600057000
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
598344000
us-gaap Profit Loss
ProfitLoss
-1195036000
us-gaap Profit Loss
ProfitLoss
-9403000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1224000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-160000
mpw Undistributed Earning Allocated To Participating Securities
UndistributedEarningAllocatedToParticipatingSecurities
654000
mpw Undistributed Earning Allocated To Participating Securities
UndistributedEarningAllocatedToParticipatingSecurities
984000
mpw Net Income Less Participating Securities Share In Earnings
NetIncomeLessParticipatingSecuritiesShareInEarnings
-1196914000
mpw Net Income Less Participating Securities Share In Earnings
NetIncomeLessParticipatingSecuritiesShareInEarnings
-10227000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
600181000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
598323000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
600181000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
598323000
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 mpw Rule10 B51 Arr Mofified Flag
Rule10B51ArrMofifiedFlag
false
CY2024Q2 mpw Non Rule10 B51 Arr Modified Flag
NonRule10B51ArrModifiedFlag
false

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