XML 57 R24.htm IDEA: XBRL DOCUMENT
v3.3.0.814

Condensed Consolidating Financial Statements | 9 Months Ended
--- | ---
Sep. 30, 2015
Condensed Consolidating Financial Statements [Abstract] |
Condensed Consolidating Financial Statements | Condensed Consolidating Financial Statements A portion of the Company's subsidiaries have guaranteed the Company’s indebtedness under the Company's unsecured senior notes and combined unsecured revolving credit and term loan facility. The guarantees are joint and several, full and unconditional and subject to customary release provisions. The following summarizes the Company’s condensed consolidating information as of September 30, 2015 and December 31, 2014 and for the three and nine months ended September 30, 2015 and 2014 (in thousands):
Condensed Consolidating Balance Sheet As of September 30, 2015
| EPR Properties (Issuer) |  | Wholly Owned Subsidiary Guarantors |  | Non- Guarantor Subsidiaries |  | Consolidated Elimination |  | Consolidated
Assets |  |  |  |  |  |  |  |  |
Rental properties, net | $ | — |  |  | $ | 2,394,449 |  |  | $ | 544,430 |  |  | $ | — |  |  | $ | 2,938,879 |
Land held for development | — |  |  | 2,274 |  |  | 28,227 |  |  | — |  |  | 30,501 |
Property under development | 5 |  |  | 166,431 |  |  | 208,097 |  |  | — |  |  | 374,533 |
Mortgage notes and related accrued interest receivable | — |  |  | 435,024 |  |  | 20,306 |  |  | — |  |  | 455,330 |
Investment in a direct financing lease, net | — |  |  | 190,029 |  |  | — |  |  | — |  |  | 190,029 |
Investment in joint ventures | — |  |  | — |  |  | 6,439 |  |  | — |  |  | 6,439 |
Cash and cash equivalents | 11,378 |  |  | 719 |  |  | 2,517 |  |  | — |  |  | 14,614 |
Restricted cash | 1,277 |  |  | 18,752 |  |  | 1,920 |  |  | — |  |  | 21,949 |
Deferred financing costs, net | 23,986 |  |  | — |  |  | 275 |  |  | — |  |  | 24,261 |
Accounts receivable, net | 183 |  |  | 44,347 |  |  | 11,476 |  |  | — |  |  | 56,006 |
Intercompany notes receivable | — |  |  | 175,757 |  |  | — |  |  | (175,757 | ) |  | — |
Investments in subsidiaries | 3,718,967 |  |  | — |  |  | — |  |  | (3,718,967 | ) |  | — |
Other assets | 18,988 |  |  | 11,303 |  |  | 58,273 |  |  | — |  |  | 88,564 |
Total assets | $ | 3,774,784 |  |  | $ | 3,439,085 |  |  | $ | 881,960 |  |  | $ | (3,894,724 | ) |  | $ | 4,201,105 |
Liabilities and Equity |  |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |
Accounts payable and accrued liabilities | $ | 41,243 |  |  | $ | 52,579 |  |  | $ | 4,914 |  |  | $ | — |  |  | $ | 98,736 |
Dividends payable | 23,847 |  |  | — |  |  | — |  |  | — |  |  | 23,847 |
Unearned rents and interest | — |  |  | 44,077 |  |  | 7,919 |  |  | — |  |  | 51,996 |
Intercompany notes payable | — |  |  | — |  |  | 175,757 |  |  | (175,757 | ) |  | — |
Debt | 1,721,000 |  |  | — |  |  | 316,455 |  |  | — |  |  | 2,037,455 |
Total liabilities | 1,786,090 |  |  | 96,656 |  |  | 505,045 |  |  | (175,757 | ) |  | 2,212,034 |
EPR Properties shareholders’ equity | 1,988,694 |  |  | 3,342,429 |  |  | 376,538 |  |  | (3,718,967 | ) |  | 1,988,694 |
Noncontrolling interests | — |  |  | — |  |  | 377 |  |  | — |  |  | 377 |
Total equity | $ | 1,988,694 |  |  | $ | 3,342,429 |  |  | $ | 376,915 |  |  | $ | (3,718,967 | ) |  | $ | 1,989,071 |
Total liabilities and equity | $ | 3,774,784 |  |  | $ | 3,439,085 |  |  | $ | 881,960 |  |  | $ | (3,894,724 | ) |  | $ | 4,201,105 |
Condensed Consolidating Balance Sheet As of December 31, 2014
| EPR Properties (Issuer) |  | Wholly Owned Subsidiary Guarantors |  | Non- Guarantor Subsidiaries |  | Consolidated Elimination |  | Consolidated
Assets |  |  |  |  |  |  |  |  |
Rental properties, net | $ | — |  |  | $ | 1,872,053 |  |  | $ | 579,481 |  |  | $ | — |  |  | $ | 2,451,534 |
Land held for development | — |  |  | — |  |  | 206,001 |  |  | — |  |  | 206,001 |
Property under development | — |  |  | 175,439 |  |  | 6,359 |  |  | — |  |  | 181,798 |
Mortgage notes and related accrued interest receivable | — |  |  | 412,625 |  |  | 95,330 |  |  | — |  |  | 507,955 |
Investment in a direct financing lease, net | — |  |  | 199,332 |  |  | — |  |  | — |  |  | 199,332 |
Investment in joint ventures | — |  |  | — |  |  | 5,738 |  |  | — |  |  | 5,738 |
Cash and cash equivalents | (1,234 | ) |  | 1,487 |  |  | 3,083 |  |  | — |  |  | 3,336 |
Restricted cash | 1,000 |  |  | 10,466 |  |  | 1,606 |  |  | — |  |  | 13,072 |
Deferred financing costs, net | 15,224 |  |  | 4,199 |  |  | 486 |  |  | — |  |  | 19,909 |
Accounts receivable, net | 90 |  |  | 34,414 |  |  | 12,778 |  |  | — |  |  | 47,282 |
Intercompany notes receivable | — |  |  | — |  |  | 175,757 |  |  | (175,757 | ) |  | — |
Investments in subsidiaries | 3,115,572 |  |  | — |  |  | — |  |  | (3,115,572 | ) |  | — |
Other assets | 21,272 |  |  | 9,151 |  |  | 35,668 |  |  | — |  |  | 66,091 |
Total assets | $ | 3,151,924 |  |  | $ | 2,719,166 |  |  | $ | 1,122,287 |  |  | $ | (3,291,329 | ) |  | $ | 3,702,048 |
Liabilities and Equity |  |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |
Accounts payable and accrued liabilities | $ | 42,829 |  |  | $ | 32,613 |  |  | $ | 6,738 |  |  | $ | — |  |  | $ | 82,180 |
Dividends payable | 22,233 |  |  | — |  |  | — |  |  | — |  |  | 22,233 |
Unearned rents and interest | 750 |  |  | 20,295 |  |  | 4,578 |  |  | — |  |  | 25,623 |
Intercompany notes payable | — |  |  | — |  |  | 175,757 |  |  | (175,757 | ) |  | — |
Debt | 1,160,000 |  |  | 160,310 |  |  | 325,213 |  |  | — |  |  | 1,645,523 |
Total liabilities | 1,225,812 |  |  | 213,218 |  |  | 512,286 |  |  | (175,757 | ) |  | 1,775,559 |
EPR Properties shareholders’ equity | 1,926,112 |  |  | 2,505,948 |  |  | 609,624 |  |  | (3,115,572 | ) |  | 1,926,112 |
Noncontrolling interests | — |  |  | — |  |  | 377 |  |  | — |  |  | 377 |
Total equity | $ | 1,926,112 |  |  | $ | 2,505,948 |  |  | $ | 610,001 |  |  | $ | (3,115,572 | ) |  | $ | 1,926,489 |
Total liabilities and equity | $ | 3,151,924 |  |  | $ | 2,719,166 |  |  | $ | 1,122,287 |  |  | $ | (3,291,329 | ) |  | $ | 3,702,048 |
Condensed Consolidating Statement of Income Three Months Ended September 30, 2015
| EPR Properties (Issuer) |  | Wholly Owned Subsidiary Guarantors |  | Non- Guarantors Subsidiaries |  | Consolidated Elimination |  | Consolidated
Rental revenue | $ | — |  |  | $ | 67,640 |  |  | $ | 18,066 |  |  | $ | — |  |  | $ | 85,706 |
Tenant reimbursements | — |  |  | 1,254 |  |  | 2,464 |  |  | — |  |  | 3,718 |
Other income | — |  |  | 1 |  |  | 717 |  |  | — |  |  | 718 |
Mortgage and other financing income | 212 |  |  | 16,558 |  |  | 1,423 |  |  | — |  |  | 18,193 |
Intercompany fee income | 665 |  |  | — |  |  | — |  |  | (665 | ) |  | — |
Interest income on intercompany notes receivable | — |  |  | 2,390 |  |  | — |  |  | (2,390 | ) |  | — |
Total revenue | 877 |  |  | 87,843 |  |  | 22,670 |  |  | (3,055 | ) |  | 108,335 |
Equity in subsidiaries’ earnings | 71,740 |  |  | — |  |  | — |  |  | (71,740 | ) |  | — |
Property operating expense | — |  |  | 2,694 |  |  | 2,802 |  |  | — |  |  | 5,496 |
Intercompany fee expense | — |  |  | — |  |  | 665 |  |  | (665 | ) |  | — |
Other expense | — |  |  | — |  |  | 221 |  |  | — |  |  | 221 |
General and administrative expense | — |  |  | 5,910 |  |  | 1,572 |  |  | — |  |  | 7,482 |
Costs associated with loan refinancing or payoff | — |  |  | 18 |  |  | — |  |  | — |  |  | 18 |
Interest expense, net | 20,843 |  |  | (2,227 | ) |  | 1,913 |  |  | — |  |  | 20,529 |
Interest expense on intercompany notes payable | — |  |  | — |  |  | 2,390 |  |  | (2,390 | ) |  | — |
Transaction costs | 746 |  |  | — |  |  | 37 |  |  | — |  |  | 783 |
Depreciation and amortization | 422 |  |  | 19,151 |  |  | 3,925 |  |  | — |  |  | 23,498 |
Income before equity in income from joint ventures and other items | 50,606 |  |  | 62,297 |  |  | 9,145 |  |  | (71,740 | ) |  | 50,308 |
Equity in income from joint ventures | — |  |  | — |  |  | 339 |  |  | — |  |  | 339 |
Loss on sale of real estate | — |  |  | (95 | ) |  | — |  |  | — |  |  | (95 | )
Income before income taxes | 50,606 |  |  | 62,202 |  |  | 9,484 |  |  | (71,740 | ) |  | 50,552 |
Income tax expense | 411 |  |  | — |  |  | 87 |  |  | — |  |  | 498 |
Income from continuing operations | 50,195 |  |  | 62,202 |  |  | 9,397 |  |  | (71,740 | ) |  | 50,054 |
Discontinued operations: |  |  |  |  |  |  |  |  |
Income from discontinued operations | — |  |  | 141 |  |  | — |  |  | — |  |  | 141 |
Net income attributable to EPR Properties | 50,195 |  |  | 62,343 |  |  | 9,397 |  |  | (71,740 | ) |  | 50,195 |
Preferred dividend requirements | (5,951 | ) |  | — |  |  | — |  |  | — |  |  | (5,951 | )
Net income available to common shareholders of EPR Properties | $ | 44,244 |  |  | $ | 62,343 |  |  | $ | 9,397 |  |  | $ | (71,740 | ) |  | $ | 44,244 |
Comprehensive income attributable to EPR Properties | $ | 47,315 |  |  | $ | 62,340 |  |  | $ | 9,299 |  |  | $ | (71,639 | ) |  | $ | 47,315 |
Condensed Consolidating Statement of Income Three Months Ended September 30, 2014
| EPR Properties (Issuer) |  | Wholly Owned Subsidiary Guarantors |  | Non- Guarantor Subsidiaries |  | Consolidated Elimination |  | Consolidated
Rental revenue | $ | — |  |  | $ | 54,798 |  |  | $ | 19,612 |  |  | $ | — |  |  | $ | 74,410 |
Tenant reimbursements | — |  |  | 1,405 |  |  | 3,081 |  |  | — |  |  | 4,486 |
Other income | — |  |  | — |  |  | 345 |  |  | — |  |  | 345 |
Mortgage and other financing income | 187 |  |  | 17,539 |  |  | 1,771 |  |  | — |  |  | 19,497 |
Intercompany fee income | 788 |  |  | — |  |  | — |  |  | (788 | ) |  | — |
Interest income on intercompany notes receivable | — |  |  | — |  |  | 5,961 |  |  | (5,961 | ) |  | — |
Total revenue | 975 |  |  | 73,742 |  |  | 30,770 |  |  | (6,749 | ) |  | 98,738 |
Equity in subsidiaries’ earnings | 58,203 |  |  | — |  |  | — |  |  | (58,203 | ) |  | — |
Property operating expense | — |  |  | 2,618 |  |  | 3,330 |  |  | — |  |  | 5,948 |
Intercompany fee expense | — |  |  | — |  |  | 788 |  |  | (788 | ) |  | — |
Other expense | — |  |  | — |  |  | 248 |  |  | — |  |  | 248 |
General and administrative expense | — |  |  | 4,726 |  |  | 1,993 |  |  | — |  |  | 6,719 |
Interest expense, net | 15,787 |  |  | 838 |  |  | 4,176 |  |  | — |  |  | 20,801 |
Interest expense on intercompany notes payable | — |  |  | — |  |  | 5,961 |  |  | (5,961 | ) |  | — |
Transaction costs | 292 |  |  | — |  |  | 77 |  |  | — |  |  | 369 |
Provision for loan loss | — |  |  | — |  |  | 3,777 |  |  | — |  |  | 3,777 |
Depreciation and amortization | 274 |  |  | 12,541 |  |  | 4,606 |  |  | — |  |  | 17,421 |
Income before equity in income from joint ventures and other items | 42,825 |  |  | 53,019 |  |  | 5,814 |  |  | (58,203 | ) |  | 43,455 |
Equity in income from joint ventures | — |  |  | — |  |  | 300 |  |  | — |  |  | 300 |
Income before income taxes | 42,825 |  |  | 53,019 |  |  | 6,114 |  |  | (58,203 | ) |  | 43,755 |
Income tax expense | 120 |  |  | — |  |  | 927 |  |  | — |  |  | 1,047 |
Income from continuing operations | 42,705 |  |  | 53,019 |  |  | 5,187 |  |  | (58,203 | ) |  | 42,708 |
Discontinued operations: |  |  |  |  |  |  |  |  |
Loss from discontinued operations | — |  |  | (3 | ) |  | — |  |  | — |  |  | (3 | )
Net income attributable to EPR Properties | 42,705 |  |  | 53,016 |  |  | 5,187 |  |  | (58,203 | ) |  | 42,705 |
Preferred dividend requirements | (5,952 | ) |  | — |  |  | — |  |  | — |  |  | (5,952 | )
Net income available to common shareholders of EPR Properties | $ | 36,753 |  |  | $ | 53,016 |  |  | $ | 5,187 |  |  | $ | (58,203 | ) |  | $ | 36,753 |
Comprehensive income attributable to EPR Properties | $ | 42,036 |  |  | $ | 53,016 |  |  | $ | 3,336 |  |  | $ | (56,352 | ) |  | $ | 42,036 |
Condensed Consolidating Statement of Income Nine Months Ended September 30, 2015
| EPR Properties (Issuer) |  | Wholly Owned Subsidiary Guarantors |  | Non- Guarantors Subsidiaries |  | Consolidated Elimination |  | Consolidated
Rental revenue | $ | — |  |  | $ | 184,790 |  |  | $ | 55,516 |  |  | $ | — |  |  | $ | 240,306 |
Tenant reimbursements | — |  |  | 3,928 |  |  | 8,058 |  |  | — |  |  | 11,986 |
Other income | — |  |  | 3 |  |  | 2,413 |  |  | — |  |  | 2,416 |
Mortgage and other financing income | 636 |  |  | 46,862 |  |  | 6,823 |  |  | — |  |  | 54,321 |
Intercompany fee income | 2,062 |  |  | — |  |  | — |  |  | (2,062 | ) |  | — |
Interest income on intercompany notes receivable | 111 |  |  | 7,339 |  |  | — |  |  | (7,450 | ) |  | — |
Total revenue | 2,809 |  |  | 242,922 |  |  | 72,810 |  |  | (9,512 | ) |  | 309,029 |
Equity in subsidiaries’ earnings | 224,052 |  |  | — |  |  | — |  |  | (224,052 | ) |  | — |
Property operating expense | — |  |  | 8,612 |  |  | 9,011 |  |  | — |  |  | 17,623 |
Intercompany fee expense | — |  |  | — |  |  | 2,062 |  |  | (2,062 | ) |  | — |
Other expense | — |  |  | — |  |  | 533 |  |  | — |  |  | 533 |
General and administrative expense | — |  |  | 17,554 |  |  | 5,366 |  |  | — |  |  | 22,920 |
Retirement severance expense | 18,578 |  |  | — |  |  | — |  |  | — |  |  | 18,578 |
Costs associated with loan refinancing or payoff | 243 |  |  | 18 |  |  | — |  |  | — |  |  | 261 |
Interest expense, net | 57,027 |  |  | (3,608 | ) |  | 5,704 |  |  | — |  |  | 59,123 |
Interest expense on intercompany notes payable | — |  |  | — |  |  | 7,450 |  |  | (7,450 | ) |  | — |
Transaction costs | 6,482 |  |  | — |  |  | 336 |  |  | — |  |  | 6,818 |
Depreciation and amortization | 1,200 |  |  | 51,544 |  |  | 11,958 |  |  | — |  |  | 64,702 |
Income before equity in income from joint ventures and other items | 143,331 |  |  | 168,802 |  |  | 30,390 |  |  | (224,052 | ) |  | 118,471 |
Equity in income from joint ventures | — |  |  | — |  |  | 701 |  |  | — |  |  | 701 |
Gain on sale of real estate | — |  |  | 23,653 |  |  | 176 |  |  | — |  |  | 23,829 |
Income before income taxes | 143,331 |  |  | 192,455 |  |  | 31,267 |  |  | (224,052 | ) |  | 143,001 |
Income tax expense (benefit) | 1,549 |  |  | — |  |  | (131 | ) |  | — |  |  | 1,418 |
Income from continuing operations | 141,782 |  |  | 192,455 |  |  | 31,398 |  |  | (224,052 | ) |  | 141,583 |
Discontinued operations: |  |  |  |  |  |  |  |  |
Income from discontinued operations | — |  |  | 199 |  |  | — |  |  | — |  |  | 199 |
Net income attributable to EPR Properties | 141,782 |  |  | 192,654 |  |  | 31,398 |  |  | (224,052 | ) |  | 141,782 |
Preferred dividend requirements | (17,855 | ) |  | — |  |  | — |  |  | — |  |  | (17,855 | )
Net income available to common shareholders of EPR Properties | $ | 123,927 |  |  | $ | 192,654 |  |  | $ | 31,398 |  |  | $ | (224,052 | ) |  | $ | 123,927 |
Comprehensive income attributable to EPR Properties | $ | 134,626 |  |  | $ | 192,603 |  |  | $ | 27,973 |  |  | $ | (220,576 | ) |  | $ | 134,626 |
Condensed Consolidating Statement of Income Nine Months Ended September 30, 2014
| EPR Properties (Issuer) |  | Wholly Owned Subsidiary Guarantors |  | Non- Guarantors Subsidiaries |  | Consolidated Elimination |  | Consolidated
Rental revenue | $ | — |  |  | $ | 155,279 |  |  | $ | 55,480 |  |  | $ | — |  |  | $ | 210,759 |
Tenant reimbursements | — |  |  | 3,958 |  |  | 9,397 |  |  | — |  |  | 13,355 |
Other income | — |  |  | 1 |  |  | 705 |  |  | — |  |  | 706 |
Mortgage and other financing income | 562 |  |  | 50,622 |  |  | 4,377 |  |  | — |  |  | 55,561 |
Intercompany fee income | 2,366 |  |  | — |  |  | — |  |  | (2,366 | ) |  | — |
Interest income on intercompany notes receivable | — |  |  | — |  |  | 19,067 |  |  | (19,067 | ) |  | — |
Total revenue | 2,928 |  |  | 209,860 |  |  | 89,026 |  |  | (21,433 | ) |  | 280,381 |
Equity in subsidiaries’ earnings | 172,970 |  |  | — |  |  | — |  |  | (172,970 | ) |  | — |
Property operating expense | (1 | ) |  | 7,701 |  |  | 10,236 |  |  | — |  |  | 17,936 |
Intercompany fee expense | — |  |  | — |  |  | 2,366 |  |  | (2,366 | ) |  | — |
Other expense | — |  |  | — |  |  | 566 |  |  | — |  |  | 566 |
General and administrative expense | — |  |  | 14,842 |  |  | 6,418 |  |  | — |  |  | 21,260 |
Interest expense, net | 47,222 |  |  | 2,686 |  |  | 11,346 |  |  | — |  |  | 61,254 |
Interest expense on intercompany notes payable | — |  |  | — |  |  | 19,067 |  |  | (19,067 | ) |  | — |
Transaction costs | 483 |  |  | — |  |  | 838 |  |  | — |  |  | 1,321 |
Provision for loan loss | — |  |  | — |  |  | 3,777 |  |  | — |  |  | 3,777 |
Depreciation and amortization | 823 |  |  | 35,386 |  |  | 12,541 |  |  | — |  |  | 48,750 |
Income before equity in income from joint ventures and other items | 127,371 |  |  | 149,245 |  |  | 21,871 |  |  | (172,970 | ) |  | 125,517 |
Equity in income from joint ventures | — |  |  | — |  |  | 878 |  |  | — |  |  | 878 |
Gain on sale of land | — |  |  | — |  |  | 330 |  |  | — |  |  | 330 |
Gain on sale of investment in a direct financing lease | — |  |  | 220 |  |  | — |  |  | — |  |  | 220 |
Income before income taxes | 127,371 |  |  | 149,465 |  |  | 23,079 |  |  | (172,970 | ) |  | 126,945 |
Income tax expense | 374 |  |  | — |  |  | 2,958 |  |  | — |  |  | 3,332 |
Income from continuing operations | 126,997 |  |  | 149,465 |  |  | 20,121 |  |  | (172,970 | ) |  | 123,613 |
Discontinued operations: |  |  |  |  |  |  |  |  |
Income (loss) from discontinued operations | — |  |  | (10 | ) |  | 18 |  |  | — |  |  | 8 |
Transaction costs (benefit) | — |  |  | 3,376 |  |  | — |  |  | — |  |  | 3,376 |
Net income attributable to EPR Properties | 126,997 |  |  | 152,831 |  |  | 20,139 |  |  | (172,970 | ) |  | 126,997 |
Preferred dividend requirements | (17,856 | ) |  | — |  |  | — |  |  | — |  |  | (17,856 | )
Net income available to common shareholders of EPR Properties | $ | 109,141 |  |  | $ | 152,831 |  |  | $ | 20,139 |  |  | $ | (172,970 | ) |  | $ | 109,141 |
Comprehensive income attributable to EPR Properties | $ | 123,361 |  |  | $ | 152,974 |  |  | $ | 16,326 |  |  | $ | (169,300 | ) |  | $ | 123,361 |
Condensed Consolidating Statement of Cash Flows Nine Months Ended September 30, 2015
| EPR Properties (Issuer) |  | Wholly Owned Subsidiary Guarantors |  | Non-Guarantor Subsidiaries |  | Consolidated
Intercompany fee income (expense) | $ | 2,062 |  |  | $ | — |  |  | $ | (2,062 | ) |  | $ | — |
Interest income (expense) on intercompany receivable/payable | 111 |  |  | 7,339 |  |  | (7,450 | ) |  | — |
Net cash provided (used) by other operating activities | (83,543 | ) |  | 217,884 |  |  | 49,967 |  |  | 184,308 |
Net cash provided (used) by operating activities of continuing operations | (81,370 | ) |  | 225,223 |  |  | 40,455 |  |  | 184,308 |
Net cash provided by operating activities of discontinued operations | — |  |  | 514 |  |  | — |  |  | 514 |
Net cash provided (used) by operating activities | (81,370 | ) |  | 225,737 |  |  | 40,455 |  |  | 184,822 |
Investing activities: |  |  |  |  |  |  |
Acquisition of rental properties and other assets | (392 | ) |  | (135,627 | ) |  | (10 | ) |  | (136,029 | )
Proceeds from sale of real estate | — |  |  | 44,911 |  |  | 1,081 |  |  | 45,992 |
Investment in mortgage notes receivable | — |  |  | (18,073 | ) |  | (44,863 | ) |  | (62,936 | )
Proceeds from mortgage note receivable paydown | — |  |  | 975 |  |  | — |  |  | 975 |
Proceeds from sale of investments in a direct financing lease, net | — |  |  | 4,741 |  |  | — |  |  | 4,741 |
Additions to property under development | (5 | ) |  | (300,270 | ) |  | (24,584 | ) |  | (324,859 | )
Advances to subsidiaries, net | (374,011 | ) |  | 337,166 |  |  | 36,845 |  |  | — |
Net cash used by investing activities | (374,408 | ) |  | (66,177 | ) |  | (31,531 | ) |  | (472,116 | )
Financing activities: |  |  |  |  |  |  |
Proceeds from long-term debt facilities | 648,914 |  |  | 155,000 |  |  | — |  |  | 803,914 |
Principal payments on long-term debt | (89,000 | ) |  | (315,310 | ) |  | (8,759 | ) |  | (413,069 | )
Deferred financing fees paid | (6,944 | ) |  | (6 | ) |  | (2 | ) |  | (6,952 | )
Net proceeds from issuance of common shares | 99,760 |  |  | — |  |  | — |  |  | 99,760 |
Impact of stock option exercises, net | (3,192 | ) |  | — |  |  | — |  |  | (3,192 | )
Purchase of common shares for treasury | (8,222 | ) |  | — |  |  | — |  |  | (8,222 | )
Dividends paid to shareholders | (172,926 | ) |  | — |  |  | — |  |  | (172,926 | )
Net cash provided (used) by financing activities | 468,390 |  |  | (160,316 | ) |  | (8,761 | ) |  | 299,313 |
Effect of exchange rate changes on cash | — |  |  | (12 | ) |  | (729 | ) |  | (741 | )
Net increase (decrease) in cash and cash equivalents | 12,612 |  |  | (768 | ) |  | (566 | ) |  | 11,278 |
Cash and cash equivalents at beginning of the period | (1,234 | ) |  | 1,487 |  |  | 3,083 |  |  | 3,336 |
Cash and cash equivalents at end of the period | $ | 11,378 |  |  | $ | 719 |  |  | $ | 2,517 |  |  | $ | 14,614 |
Condensed Consolidating Statement of Cash Flows Nine Months Ended September 30, 2014
| EPR Properties (Issuer) |  | Wholly Owned Subsidiary Guarantors |  | Non-Guarantor Subsidiaries |  | Consolidated
Intercompany fee income (expense) | $ | 2,366 |  |  | $ | — |  |  | $ | (2,366 | ) |  | $ | — |
Interest income (expense) on intercompany receivable/payable | — |  |  | — |  |  | — |  |  | — |
Net cash provided (used) by other operating activities | (59,343 | ) |  | 180,072 |  |  | 47,370 |  |  | 168,099 |
Net cash provided (used) by operating activities of continuing operations | (56,977 | ) |  | 180,072 |  |  | 45,004 |  |  | 168,099 |
Net cash provided by operating activities of discontinued operations | — |  |  | 41 |  |  | 68 |  |  | 109 |
Net cash provided (used) by operating activities | (56,977 | ) |  | 180,113 |  |  | 45,072 |  |  | 168,208 |
Investing activities: |  |  |  |  |  |  |
Acquisition of rental properties and other assets | (283 | ) |  | (30,288 | ) |  | (25,814 | ) |  | (56,385 | )
Proceeds from sale of real estate | — |  |  | — |  |  | 3,647 |  |  | 3,647 |
Proceeds from settlement of derivative | — |  |  | — |  |  | 5,725 |  |  | 5,725 |
Investment in mortgage note receivable | — |  |  | (21,808 | ) |  | (36,114 | ) |  | (57,922 | )
Proceeds from mortgage note receivable paydown | — |  |  | 317 |  |  | — |  |  | 317 |
Investment in promissory notes receivable | — |  |  | (721 | ) |  | (3,666 | ) |  | (4,387 | )
Proceeds from sale of investments in a direct financing lease, net | — |  |  | 46,092 |  |  | — |  |  | 46,092 |
Additions to property under development | (821 | ) |  | (246,066 | ) |  | (9,641 | ) |  | (256,528 | )
Advances to subsidiaries, net | (70,690 | ) |  | 40,165 |  |  | 30,525 |  |  | — |
Net cash used by investing activities | (71,794 | ) |  | (212,309 | ) |  | (35,338 | ) |  | (319,441 | )
Financing activities: |  |  |  |  |  |  |
Proceeds from long-term debt facilities | 20,000 |  |  | 245,000 |  |  | — |  |  | 265,000 |
Principal payments on long-term debt | — |  |  | (213,431 | ) |  | (7,135 | ) |  | (220,566 | )
Deferred financing fees paid | (335 | ) |  | (275 | ) |  | (198 | ) |  | (808 | )
Net proceeds from issuance of common shares | 264,008 |  |  | — |  |  | — |  |  | 264,008 |
Impact of stock option exercises, net | (27 | ) |  | — |  |  | — |  |  | (27 | )
Purchase of common shares for treasury | (2,892 | ) |  | — |  |  | — |  |  | (2,892 | )
Dividends paid to shareholders | (152,874 | ) |  | — |  |  | — |  |  | (152,874 | )
Net cash provided (used) by financing activities | 127,880 |  |  | 31,294 |  |  | (7,333 | ) |  | 151,841 |
Effect of exchange rate changes on cash | — |  |  | 47 |  |  | (227 | ) |  | (180 | )
Net increase (decrease) in cash and cash equivalents | (891 | ) |  | (855 | ) |  | 2,174 |  |  | 428 |
Cash and cash equivalents at beginning of the period | 449 |  |  | 2,727 |  |  | 4,782 |  |  | 7,958 |
Cash and cash equivalents at end of the period | $ | (442 | ) |  | $ | 1,872 |  |  | $ | 6,956 |  |  | $ | 8,386 |

X
- Definition Condensed Consolidating Financial Statements [Abstract] + References No definition available. + Details
Name: | epr_CondensedConsolidatingFinancialStatementsAbstract
Namespace Prefix: | epr_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of condensed consolidating financial statements disclosure text block + References No definition available. + Details
Name: | epr_ScheduleOfCondensedConsolidatingFinancialStatementsDisclosureTextBlock
Namespace Prefix: | epr_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration