$MPW
MEDICAL PROPERTIES TRUST INC

2012 Q2 Form 10-Q Financial Statement

#000119312512347955 Filed on August 09, 2012

View on sec.gov

Income Statement

Concept 2012 Q2 2011 Q2
Revenue $48.57M $34.78M
YoY Change 39.66% 13.65%
Cost Of Revenue $600.0K $100.0K
YoY Change 500.0% -88.89%
Gross Profit $48.30M $33.50M
YoY Change 44.18% 12.79%
Gross Profit Margin 99.45% 96.33%
Selling, General & Admin $6.700M $7.800M
YoY Change -14.1% -9.3%
% of Gross Profit 13.87% 23.28%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $9.000M $8.500M
YoY Change 5.88% 37.1%
% of Gross Profit 18.63% 25.37%
Operating Expenses $15.00M $15.20M
YoY Change -1.32% 5.56%
Operating Profit $33.02M $17.83M
YoY Change 85.18% 16.54%
Interest Expense $14.89M $12.39M
YoY Change 20.2% -184.27%
% of Operating Profit 45.09% 69.47%
Other Income/Expense, Net -$14.03M -$16.16M
YoY Change -13.17%
Pretax Income $19.00M $1.600M
YoY Change 1087.5% -633.33%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0% 0.0%
Net Earnings $19.32M $2.640M
YoY Change 631.67% -57.42%
Net Earnings / Revenue 39.77% 7.59%
Basic Earnings Per Share $0.14 $0.02
Diluted Earnings Per Share $0.14 $0.02
COMMON SHARES
Basic Shares Outstanding 134.7M shares 110.6M shares
Diluted Shares Outstanding 134.7M shares 110.6M shares

Balance Sheet

Concept 2012 Q2 2011 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $128.0M $228.0M
YoY Change -43.86% 86.89%
Cash & Equivalents $127.6M $227.9M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $38.00M $27.00M
Other Receivables $37.00M $33.00M
Total Short-Term Assets $203.0M $288.0M
YoY Change -29.51% 60.89%
LONG-TERM ASSETS
Property, Plant & Equipment $1.623B $1.300B
YoY Change 24.85% 15.86%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $1.836B $1.391B
YoY Change 31.96% 15.63%
TOTAL ASSETS
Total Short-Term Assets $203.0M $288.0M
Total Long-Term Assets $1.836B $1.391B
Total Assets $2.039B $1.679B
YoY Change 21.41% 21.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $59.00M $46.00M
YoY Change 28.26% 21.05%
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 $88.00M $70.00M
YoY Change 25.71% 25.0%
LONG-TERM LIABILITIES
Long-Term Debt $900.0M $718.0M
YoY Change 25.35% 87.96%
Other Long-Term Liabilities $22.00M $21.00M
YoY Change 4.76% 0.0%
Total Long-Term Liabilities $922.0M $739.0M
YoY Change 24.76% 83.37%
TOTAL LIABILITIES
Total Short-Term Liabilities $88.00M $70.00M
Total Long-Term Liabilities $922.0M $739.0M
Total Liabilities $1.011B $810.0M
YoY Change 24.81% 76.09%
SHAREHOLDERS EQUITY
Retained Earnings -$238.5M
YoY Change
Common Stock $1.279B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $262.0K
YoY Change
Treasury Stock Shares
Shareholders Equity $1.028B $869.0M
YoY Change
Total Liabilities & Shareholders Equity $2.039B $1.679B
YoY Change 21.41% 21.49%

Cashflow Statement

Concept 2012 Q2 2011 Q2
OPERATING ACTIVITIES
Net Income $19.32M $2.640M
YoY Change 631.67% -57.42%
Depreciation, Depletion And Amortization $9.000M $8.500M
YoY Change 5.88% 37.1%
Cash From Operating Activities $21.00M $20.40M
YoY Change 2.94% 28.3%
INVESTING ACTIVITIES
Capital Expenditures -$411.1M -$4.600M
YoY Change 8836.96% -94.71%
Acquisitions
YoY Change
Other Investing Activities $418.0M $900.0K
YoY Change 46344.44% -99.18%
Cash From Investing Activities $6.900M -$3.700M
YoY Change -286.49% -116.37%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -26.80M 204.2M
YoY Change -113.12% 182.43%
NET CHANGE
Cash From Operating Activities 21.00M 20.40M
Cash From Investing Activities 6.900M -3.700M
Cash From Financing Activities -26.80M 204.2M
Net Change In Cash 1.100M 220.9M
YoY Change -99.5% 99.37%
FREE CASH FLOW
Cash From Operating Activities $21.00M $20.40M
Capital Expenditures -$411.1M -$4.600M
Free Cash Flow $432.1M $25.00M
YoY Change 1628.4% -75.7%

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dei Entity Registrant Name
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us-gaap Depreciation And Amortization
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17420000
us-gaap Net Cash Provided By Used In Operating Activities
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44423000
us-gaap Capital Leases Income Statement Direct Financing Lease Revenue
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7206000
us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Other Nonoperating Income
OtherNonoperatingIncome
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374972000
us-gaap Acquisition Costs
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us-gaap Straight Line Rent
StraightLineRent
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us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
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us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
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WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Payments To Acquire Loans Receivable
PaymentsToAcquireLoansReceivable
1293000
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-546000
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
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us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
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-1446000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
24913000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
300000000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
129810000 shares
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
1711000
us-gaap Revenues
Revenues
93943000
us-gaap Derivative Net Hedge Ineffectiveness Gain Loss
DerivativeNetHedgeIneffectivenessGainLoss
0
us-gaap Interest Paid
InterestPaid
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us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
39401000
us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-26837000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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29421000
us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
49589000
us-gaap Interest Expense
InterestExpense
27684000
mpw Recognition Of Unearned Income On Direct Financing And Sales Type Leases
RecognitionOfUnearnedIncomeOnDirectFinancingAndSalesTypeLeases
1156000
mpw Lease Extension Period
LeaseExtensionPeriod
P5Y
mpw Lease Period
LeasePeriod
20 Year
mpw Coupon Payable In Cash In Thereafter
CouponPayableInCashInThereafter
0.10 pure
mpw Net Income Loss Per Share Attributable To Common Stockholder
NetIncomeLossPerShareAttributableToCommonStockholder
0.29
mpw Maximum Percentage Of Unencumbered Assets
MaximumPercentageOfUnencumberedAssets
1.50 pure
mpw Percentage Of Equity Shares From Convertible Debt
PercentageOfEquitySharesFromConvertibleDebt
0.151 pure
mpw Percentage Of Dividends Payable On Basis Of Adjusted Operating Funds
PercentageOfDividendsPayableOnBasisOfAdjustedOperatingFunds
1.20 pure
mpw Increase Decrease In Interest And Rent Receivable
IncreaseDecreaseInInterestAndRentReceivable
8176000
mpw Percentage Of Dividends Payable On Senior Unsecured Notes
PercentageOfDividendsPayableOnSeniorUnsecuredNotes
0.95 pure
mpw Percentage Of Dividends Payable On Basis Of Adjusted Operating Funds For One Year
PercentageOfDividendsPayableOnBasisOfAdjustedOperatingFundsForOneYear
0.95 pure
mpw Percentage Of Dividends Payable On Basis Of Adjusted Operating Funds For Current Year
PercentageOfDividendsPayableOnBasisOfAdjustedOperatingFundsForCurrentYear
1.15 pure
mpw Straight Line Rent Revenue
StraightLineRentRevenue
2877000
mpw Proceeds From Lease Deposits And Other Obligations To Tenants
ProceedsFromLeaseDepositsAndOtherObligationsToTenants
383000
mpw Rent Billed
RentBilled
64370000
mpw Revolving Credit Facilities Net
RevolvingCreditFacilitiesNet
89600000
mpw Construction In Progress Equipment And Other
ConstructionInProgressEquipmentAndOther
20655000
mpw Net Income Attributable To Common Stockholders Per Common Share
NetIncomeAttributableToCommonStockholdersPerCommonShare
0.23
mpw Percentage Of Rental Rate
PercentageOfRentalRate
0.09 pure
CY2012Q1 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
1700000
CY2012Q1 mpw Percentage Of Equity Shares From Convertible Debt
PercentageOfEquitySharesFromConvertibleDebt
0.099 pure
CY2012Q1 mpw Debt Instrument Initial Spread Interest Rate
DebtInstrumentInitialSpreadInterestRate
0.0125 pure
CY2011 mpw Maximum Percentage Of Unencumbered Assets
MaximumPercentageOfUnencumberedAssets
1.50 pure
CY2011Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.01
CY2011Q2 us-gaap Costs And Expenses
CostsAndExpenses
17125000
CY2011Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
17831000
CY2011Q2 us-gaap Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
212000
CY2011Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
43000
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ComprehensiveIncomeNetOfTax
-946000
CY2011Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
43000
CY2011Q2 us-gaap Asset Impairment Charges
AssetImpairmentCharges
564000
CY2011Q2 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
48671000
CY2011Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
1676000
CY2011Q2 us-gaap Profit Loss
ProfitLoss
2683000
CY2011Q2 us-gaap Interest And Fee Income Loans Commercial Real Estate
InterestAndFeeIncomeLoansCommercialRealEstate
5269000
CY2011Q2 us-gaap Investment Income Net
InvestmentIncomeNet
19000
CY2011Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.20
CY2011Q2 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
1492000
CY2011Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
7915000
CY2011Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-3586000
CY2011Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
1007000
CY2011Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
7818000
CY2011Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
110600000 shares
CY2011Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
2000
CY2011Q2 us-gaap Acquisition Costs
AcquisitionCosts
616000
CY2011Q2 us-gaap Straight Line Rent
StraightLineRent
2045000
CY2011Q2 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
0.01
CY2011Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
110589000 shares
CY2011Q2 us-gaap Revenues
Revenues
34956000
CY2011Q2 us-gaap Derivative Net Hedge Ineffectiveness Gain Loss
DerivativeNetHedgeIneffectivenessGainLoss
0
CY2011Q2 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
10825000
CY2011Q2 us-gaap Net Income Loss
NetIncomeLoss
2640000
CY2011Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-16155000
CY2011Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-903000
CY2011Q2 us-gaap Interest Expense
InterestExpense
12387000
CY2011Q2 mpw Debt Refinancing Costs
DebtRefinancingCosts
3789000
CY2011Q2 mpw Income From Discontinued Operations Attributable To Common Stockholders Per Common Share
IncomeFromDiscontinuedOperationsAttributableToCommonStockholdersPerCommonShare
0.01
CY2011Q2 mpw Net Income Loss Per Share Attributable To Common Stockholder
NetIncomeLossPerShareAttributableToCommonStockholder
0.08
CY2011Q2 mpw Rent Billed
RentBilled
27642000
CY2011Q2 mpw Net Income Attributable To Common Stockholders Per Common Share
NetIncomeAttributableToCommonStockholdersPerCommonShare
0.02
CY2012Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-0.01
CY2012Q2 us-gaap Costs And Expenses
CostsAndExpenses
16403000
CY2012Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
34667000
CY2012Q2 us-gaap Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
639000
CY2012Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
44000
CY2012Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
18271000
CY2012Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
44000
CY2012Q2 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
51070000
CY2012Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
20640000
CY2012Q2 us-gaap Profit Loss
ProfitLoss
19360000
CY2012Q2 us-gaap Interest And Fee Income Loans Commercial Real Estate
InterestAndFeeIncomeLoansCommercialRealEstate
11548000
CY2012Q2 us-gaap Investment Income Net
InvestmentIncomeNet
-17000
CY2012Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.20
CY2012Q2 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
598000
CY2012Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
8788000
CY2012Q2 us-gaap Capital Leases Income Statement Direct Financing Lease Revenue
CapitalLeasesIncomeStatementDirectFinancingLeaseRevenue
5371000
CY2012Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-1045000
CY2012Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-1280000
CY2012Q2 us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
-1446000
CY2012Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
6697000
CY2012Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
134715000 shares
CY2012Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
879000
CY2012Q2 us-gaap Acquisition Costs
AcquisitionCosts
279000
CY2012Q2 us-gaap Straight Line Rent
StraightLineRent
1428000
CY2012Q2 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
0.15
CY2012Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
134715000 shares
CY2012Q2 us-gaap Revenues
Revenues
51070000
CY2012Q2 us-gaap Derivative Net Hedge Ineffectiveness Gain Loss
DerivativeNetHedgeIneffectivenessGainLoss
0
CY2012Q2 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
19672000
CY2012Q2 us-gaap Net Income Loss
NetIncomeLoss
19316000
CY2012Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-14027000
CY2012Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
18315000
CY2012Q2 us-gaap Interest Expense
InterestExpense
14889000
CY2012Q2 mpw Income From Discontinued Operations Attributable To Common Stockholders Per Common Share
IncomeFromDiscontinuedOperationsAttributableToCommonStockholdersPerCommonShare
-0.01
CY2012Q2 mpw Net Income Loss Per Share Attributable To Common Stockholder
NetIncomeLossPerShareAttributableToCommonStockholder
0.14
CY2012Q2 mpw Rent Billed
RentBilled
32723000
CY2012Q2 mpw Net Income Attributable To Common Stockholders Per Common Share
NetIncomeAttributableToCommonStockholdersPerCommonShare
0.14

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