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Condensed Consolidating Financial Statements (Tables) | 12 Months Ended
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Dec. 31, 2015
Condensed Consolidating Financial Statements [Abstract] |
Condensed Consolidating Balance Sheet |
Condensed Consolidating Balance Sheet As of December 31, 2015
| EPR Properties (Issuer) |  | Wholly Owned Subsidiary Guarantors |  | Non- Guarantor Subsidiaries |  | Consolidated Elimination |  | Consolidated
Assets |  |  |  |  |  |  |  |  |
Rental properties, net | $ | — |  |  | $ | 2,485,411 |  |  | $ | 539,788 |  |  | $ | — |  |  | $ | 3,025,199 |
Land held for development | — |  |  | 1,258 |  |  | 22,352 |  |  | — |  |  | 23,610 |
Property under development | — |  |  | 152,197 |  |  | 226,723 |  |  | — |  |  | 378,920 |
Mortgage notes and related accrued interest receivable, net | — |  |  | 400,935 |  |  | 22,845 |  |  | — |  |  | 423,780 |
Investment in a direct financing lease, net | — |  |  | 190,880 |  |  | — |  |  | — |  |  | 190,880 |
Investment in joint ventures | — |  |  | — |  |  | 6,168 |  |  | — |  |  | 6,168 |
Cash and cash equivalents | 1,089 |  |  | 735 |  |  | 2,459 |  |  | — |  |  | 4,283 |
Restricted cash | 475 |  |  | 8,220 |  |  | 1,883 |  |  | — |  |  | 10,578 |
Deferred financing costs, net | 4,894 |  |  | — |  |  | — |  |  | — |  |  | 4,894 |
Accounts receivable, net | 285 |  |  | 47,502 |  |  | 11,314 |  |  | — |  |  | 59,101 |
Intercompany notes receivable | — |  |  | 175,757 |  |  | — |  |  | (175,757 | ) |  | — |
Investments in subsidiaries | 3,825,897 |  |  | — |  |  | — |  |  | (3,825,897 | ) |  | — |
Other assets | 18,159 |  |  | 10,607 |  |  | 61,091 |  |  | — |  |  | 89,857 |
Total assets | $ | 3,850,799 |  |  | $ | 3,473,502 |  |  | $ | 894,623 |  |  | $ | (4,001,654 | ) |  | $ | 4,217,270 |
Liabilities and Equity |  |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |
Accounts payable and accrued liabilities | $ | 49,671 |  |  | $ | 38,759 |  |  | $ | 3,748 |  |  | $ | — |  |  | $ | 92,178 |
Dividends payable | 24,352 |  |  | — |  |  | — |  |  | — |  |  | 24,352 |
Unearned rents and interest | — |  |  | 35,512 |  |  | 9,440 |  |  | — |  |  | 44,952 |
Intercompany notes payable | — |  |  | — |  |  | 175,757 |  |  | (175,757 | ) |  | — |
Debt | 1,702,908 |  |  | — |  |  | 279,012 |  |  | — |  |  | 1,981,920 |
Total liabilities | 1,776,931 |  |  | 74,271 |  |  | 467,957 |  |  | (175,757 | ) |  | 2,143,402 |
Equity | 2,073,868 |  |  | 3,399,231 |  |  | 426,666 |  |  | (3,825,897 | ) |  | 2,073,868 |
Total liabilities and equity | $ | 3,850,799 |  |  | $ | 3,473,502 |  |  | $ | 894,623 |  |  | $ | (4,001,654 | ) |  | $ | 4,217,270 |
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, net | — |  |  | 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 | ) |  | 840 |  |  | 3,730 |  |  | — |  |  | 3,336 |
Restricted cash | 1,000 |  |  | 10,466 |  |  | 1,606 |  |  | — |  |  | 13,072 |
Deferred financing costs, net | — |  |  | 4,136 |  |  | — |  |  | — |  |  | 4,136 |
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 | $ | 3,136,700 |  |  | $ | 2,718,456 |  |  | $ | 1,122,448 |  |  | $ | (3,291,329 | ) |  | $ | 3,686,275 |
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 | 1,144,776 |  |  | 160,298 |  |  | 324,676 |  |  | — |  |  | 1,629,750 |
Total liabilities | 1,210,588 |  |  | 213,206 |  |  | 511,749 |  |  | (175,757 | ) |  | 1,759,786 |
EPR Properties shareholders’ equity | 1,926,112 |  |  | 2,505,250 |  |  | 610,322 |  |  | (3,115,572 | ) |  | 1,926,112 |
Noncontrolling interests | — |  |  | — |  |  | 377 |  |  | — |  |  | 377 |
Equity | $ | 1,926,112 |  |  | $ | 2,505,250 |  |  | $ | 610,699 |  |  | $ | (3,115,572 | ) |  | $ | 1,926,489 |
Total liabilities and equity | $ | 3,136,700 |  |  | $ | 2,718,456 |  |  | $ | 1,122,448 |  |  | $ | (3,291,329 | ) |  | $ | 3,686,275 |
Condensed Consolidating Statement Of Income |
Condensed Consolidating Statement of Income For the Year Ended December 31, 2015
| EPR Properties (Issuer) |  | Wholly Owned Subsidiary Guarantors |  | Non- Guarantors Subsidiaries |  | Consolidated Elimination |  | Consolidated
Rental revenue | $ | — |  |  | $ | 257,493 |  |  | $ | 73,393 |  |  | $ | — |  |  | $ | 330,886 |
Tenant reimbursements | — |  |  | 5,243 |  |  | 11,077 |  |  | — |  |  | 16,320 |
Other income | — |  |  | 3 |  |  | 3,626 |  |  | — |  |  | 3,629 |
Mortgage and other financing income | 848 |  |  | 61,900 |  |  | 7,434 |  |  | — |  |  | 70,182 |
Intercompany fee income | 2,717 |  |  | — |  |  | — |  |  | (2,717 | ) |  | — |
Interest income on intercompany notes receivable | 111 |  |  | 9,690 |  |  | — |  |  | (9,801 | ) |  | — |
Total revenue | 3,676 |  |  | 334,329 |  |  | 95,530 |  |  | (12,518 | ) |  | 421,017 |
Equity in subsidiaries’ earnings | 298,657 |  |  | — |  |  | — |  |  | (298,657 | ) |  | — |
Property operating expense | — |  |  | 11,532 |  |  | 11,901 |  |  | — |  |  | 23,433 |
Intercompany fee expense | — |  |  | — |  |  | 2,717 |  |  | (2,717 | ) |  | — |
Other expense | — |  |  | — |  |  | 648 |  |  | — |  |  | 648 |
General and administrative expense | — |  |  | 24,047 |  |  | 6,974 |  |  | — |  |  | 31,021 |
Retirement severance expense | 18,578 |  |  | — |  |  | — |  |  | — |  |  | 18,578 |
Costs associated with loan refinancing or payoff | 243 |  |  | 3 |  |  | 24 |  |  | — |  |  | 270 |
Interest expense, net | 78,217 |  |  | (5,524 | ) |  | 7,222 |  |  | — |  |  | 79,915 |
Interest expense on intercompany notes payable | — |  |  | — |  |  | 9,801 |  |  | (9,801 | ) |  | — |
Transaction costs | 7,182 |  |  | — |  |  | 336 |  |  | — |  |  | 7,518 |
Depreciation and amortization | 1,629 |  |  | 71,700 |  |  | 16,288 |  |  | — |  |  | 89,617 |
Income before equity in income from joint ventures and other items | 196,484 |  |  | 232,571 |  |  | 39,619 |  |  | (298,657 | ) |  | 170,017 |
Equity in income from joint ventures | — |  |  | — |  |  | 969 |  |  | — |  |  | 969 |
Gain on sale or acquisition, net | — |  |  | 23,653 |  |  | 176 |  |  | — |  |  | 23,829 |
Income before income taxes | 196,484 |  |  | 256,224 |  |  | 40,764 |  |  | (298,657 | ) |  | 194,815 |
Income tax benefit (expense) | (1,952 | ) |  | — |  |  | 1,470 |  |  | — |  |  | (482 | )
Income from continuing operations | 194,532 |  |  | 256,224 |  |  | 42,234 |  |  | (298,657 | ) |  | 194,333 |
Discontinued operations: |  |  |  |  |  |  |  |  |
Income from discontinued operations | — |  |  | 199 |  |  | — |  |  | — |  |  | 199 |
Net income attributable to EPR Properties | 194,532 |  |  | 256,423 |  |  | 42,234 |  |  | (298,657 | ) |  | 194,532 |
Preferred dividend requirements | (23,806 | ) |  | — |  |  | — |  |  | — |  |  | (23,806 | )
Net income available to common shareholders of EPR Properties | $ | 170,726 |  |  | $ | 256,423 |  |  | $ | 42,234 |  |  | $ | (298,657 | ) |  | $ | 170,726 |
Comprehensive income attributable to EPR Properties | $ | 187,588 |  |  | $ | 256,200 |  |  | $ | 36,088 |  |  | $ | (292,288 | ) |  | $ | 187,588 |
Condensed Consolidating Statement of Income For the Year Ended December 31, 2014
| EPR Properties (Issuer) |  | Wholly Owned Subsidiary Guarantors |  | Non- Guarantor Subsidiaries |  | Consolidated Elimination |  | Consolidated
Rental revenue | $ | — |  |  | $ | 211,616 |  |  | $ | 75,057 |  |  | $ | — |  |  | $ | 286,673 |
Tenant reimbursements | — |  |  | 5,103 |  |  | 12,560 |  |  | — |  |  | 17,663 |
Other income | — |  |  | 1 |  |  | 1,008 |  |  | — |  |  | 1,009 |
Mortgage and other financing income | 765 |  |  | 71,535 |  |  | 7,406 |  |  | — |  |  | 79,706 |
Intercompany fee income | 3,124 |  |  | — |  |  | — |  |  | (3,124 | ) |  | — |
Interest income on intercompany notes receivable | — |  |  | — |  |  | 24,796 |  |  | (24,796 | ) |  | — |
Total revenue | 3,889 |  |  | 288,255 |  |  | 120,827 |  |  | (27,920 | ) |  | 385,051 |
Equity in subsidiaries’ earnings | 241,921 |  |  | — |  |  | — |  |  | (241,921 | ) |  | — |
Property operating expense | — |  |  | 11,264 |  |  | 13,633 |  |  | — |  |  | 24,897 |
Intercompany fee expense | — |  |  | — |  |  | 3,124 |  |  | (3,124 | ) |  | — |
Other expense | — |  |  | — |  |  | 771 |  |  | — |  |  | 771 |
General and administrative expense | — |  |  | 19,325 |  |  | 8,241 |  |  | — |  |  | 27,566 |
Costs associated with loan refinancing or payoff | — |  |  | 285 |  |  | 16 |  |  | — |  |  | 301 |
Interest expense, net | 63,056 |  |  | 2,978 |  |  | 15,236 |  |  | — |  |  | 81,270 |
Interest expense on intercompany notes payable | — |  |  | — |  |  | 24,796 |  |  | (24,796 | ) |  | — |
Transaction costs | 1,319 |  |  | 54 |  |  | 1,079 |  |  | — |  |  | 2,452 |
Provision for loan losses | — |  |  | — |  |  | 3,777 |  |  | — |  |  | 3,777 |
Depreciation and amortization | 1,224 |  |  | 48,541 |  |  | 16,974 |  |  | — |  |  | 66,739 |
Income before equity in income from joint ventures and other items | 180,211 |  |  | 205,808 |  |  | 33,180 |  |  | (241,921 | ) |  | 177,278 |
Equity in income from joint ventures | — |  |  | — |  |  | 1,273 |  |  | — |  |  | 1,273 |
Gain on sale or acquisition, net | — |  |  | — |  |  | 1,209 |  |  | — |  |  | 1,209 |
Gain on sale of investment in a direct financing lease | — |  |  | 220 |  |  | — |  |  | — |  |  | 220 |
Income before income taxes | 180,211 |  |  | 206,028 |  |  | 35,662 |  |  | (241,921 | ) |  | 179,980 |
Income tax benefit (expense) | (578 | ) |  | — |  |  | (3,650 | ) |  | — |  |  | (4,228 | )
Income from continuing operations | 179,633 |  |  | 206,028 |  |  | 32,012 |  |  | (241,921 | ) |  | 175,752 |
Discontinued operations: |  |  |  |  |  |  |  |  |
Income from discontinued operations | — |  |  | 487 |  |  | 18 |  |  | — |  |  | 505 |
Transaction (costs) benefit | — |  |  | 3,376 |  |  | — |  |  | — |  |  | 3,376 |
Net income attributable to EPR Properties | 179,633 |  |  | 209,891 |  |  | 32,030 |  |  | (241,921 | ) |  | 179,633 |
Preferred dividend requirements | (23,807 | ) |  | — |  |  | — |  |  | — |  |  | (23,807 | )
Net income available to common shareholders of EPR Properties | $ | 155,826 |  |  | $ | 209,891 |  |  | $ | 32,030 |  |  | $ | (241,921 | ) |  | $ | 155,826 |
Comprehensive income attributable to EPR Properties | $ | 175,006 |  |  | $ | 210,031 |  |  | $ | 27,888 |  |  | $ | (237,919 | ) |  | $ | 175,006 |
Condensed Consolidating Statement of Income For the Year Ended December 31, 2013
| EPR Properties (Issuer) |  | Wholly Owned Subsidiary Guarantors |  | Non- Guarantor Subsidiaries |  | Consolidated Elimination |  | Consolidated
Rental revenue | $ | — |  |  | $ | 180,319 |  |  | $ | 68,390 |  |  | $ | — |  |  | $ | 248,709 |
Tenant reimbursements | — |  |  | 5,235 |  |  | 13,166 |  |  | — |  |  | 18,401 |
Other income | 75 |  |  | 9 |  |  | 1,598 |  |  | — |  |  | 1,682 |
Mortgage and other financing income | 994 |  |  | 66,886 |  |  | 6,392 |  |  | — |  |  | 74,272 |
Intercompany fee income | 2,629 |  |  | — |  |  | — |  |  | (2,629 | ) |  | — |
Interest income on intercompany notes receivable | 17,848 |  |  | — |  |  | 386 |  |  | (18,234 | ) |  | — |
Total revenue | 21,546 |  |  | 252,449 |  |  | 89,932 |  |  | (20,863 | ) |  | 343,064 |
Equity in subsidiaries’ earnings | 212,634 |  |  | — |  |  | — |  |  | (212,634 | ) |  | — |
Property operating expense | (88 | ) |  | 11,865 |  |  | 14,239 |  |  | — |  |  | 26,016 |
Intercompany fee expense | — |  |  | — |  |  | 2,629 |  |  | (2,629 | ) |  | — |
Other expense | — |  |  | — |  |  | 658 |  |  | — |  |  | 658 |
General and administrative expense | — |  |  | 18,708 |  |  | 6,905 |  |  | — |  |  | 25,613 |
Costs associated with loan refinancing or payoff | — |  |  | 1,987 |  |  | 4,179 |  |  | — |  |  | 6,166 |
Gain on early extinguishment of debt | — |  |  | (4,539 | ) |  | — |  |  | — |  |  | (4,539 | )
Interest expense, net | 55,856 |  |  | 9,085 |  |  | 16,115 |  |  | — |  |  | 81,056 |
Interest expense on intercompany notes payable | — |  |  | — |  |  | 18,234 |  |  | (18,234 | ) |  | — |
Transaction costs | 1,813 |  |  | — |  |  | 142 |  |  | — |  |  | 1,955 |
Depreciation and amortization | 1,093 |  |  | 37,756 |  |  | 15,097 |  |  | — |  |  | 53,946 |
Income before equity in income from joint ventures and other items | 175,506 |  |  | 177,587 |  |  | 11,734 |  |  | (212,634 | ) |  | 152,193 |
Equity in income from joint ventures | 505 |  |  | — |  |  | 893 |  |  | — |  |  | 1,398 |
Gain (loss) on sale or acquisition, net | (150 | ) |  | 3,167 |  |  | — |  |  | — |  |  | 3,017 |
Gain on previously held equity interest | 4,853 |  |  | — |  |  | — |  |  | — |  |  | 4,853 |
Income before income taxes | $ | 180,714 |  |  | $ | 180,754 |  |  | $ | 12,627 |  |  | $ | (212,634 | ) |  | $ | 161,461 |
Income tax benefit (expense) | (488 | ) |  | — |  |  | 14,664 |  |  | — |  |  | 14,176 |
Income from continuing operations | 180,226 |  |  | 180,754 |  |  | 27,291 |  |  | (212,634 | ) |  | 175,637 |
Discontinued operations: |  |  |  |  |  |  |  |  |
Income (loss) from discontinued operations | — |  |  | 638 |  |  | (305 | ) |  | — |  |  | 333 |
Gain on sale, net from discontinued opeartions | — |  |  | — |  |  | 4,256 |  |  | — |  |  | 4,256 |
Net income attributable to EPR Properties | 180,226 |  |  | 181,392 |  |  | 31,242 |  |  | (212,634 | ) |  | 180,226 |
Preferred dividend requirements | (23,806 | ) |  | — |  |  | — |  |  | — |  |  | (23,806 | )
Net income available to common shareholders of EPR Properties | $ | 156,420 |  |  | $ | 181,392 |  |  | $ | 31,242 |  |  | $ | (212,634 | ) |  | $ | 156,420 |
Comprehensive income attributable to EPR Properties | $ | 176,797 |  |  | $ | 181,628 |  |  | $ | 28,200 |  |  | $ | (209,828 | ) |  | $ | 176,797 |
Condensed Consolidating Statement Of Cash Flows |
Condensed Consolidating Statement of Cash Flows For the Year Ended December 31, 2015
| EPR Properties (Issuer) |  | Wholly Owned Subsidiary Guarantors |  | Non-Guarantor Subsidiaries |  | Consolidated
Intercompany fee income (expense) | $ | 2,717 |  |  | $ | — |  |  | $ | (2,717 | ) |  | $ | — |
Interest income (expense) on intercompany receivable/payable | 111 |  |  | 9,690 |  |  | (9,801 | ) |  | — |
Net cash provided (used) by other operating activities | (91,731 | ) |  | 300,144 |  |  | 69,539 |  |  | 277,952 |
Net cash provided (used) by operating activities by continuing operations | (88,903 | ) |  | 309,834 |  |  | 57,021 |  |  | 277,952 |
Net cash provided by operating activities of discontinued operations | — |  |  | 508 |  |  | — |  |  | 508 |
Net cash provided (used) by operating activities | (88,903 | ) |  | 310,342 |  |  | 57,021 |  |  | 278,460 |
Investing activities: |  |  |  |  |  |  |
Acquisition of rental properties and other assets | (618 | ) |  | (178,964 | ) |  | (238 | ) |  | (179,820 | )
Proceeds from sale of real estate | — |  |  | 45,637 |  |  | 1,081 |  |  | 46,718 |
Investment in mortgage notes receivable | — |  |  | (27,835 | ) |  | (44,863 | ) |  | (72,698 | )
Proceeds from mortgage note receivable paydown | — |  |  | 38,456 |  |  | 2,500 |  |  | 40,956 |
Proceeds from sale of investment in a direct financing lease, net | — |  |  | 4,741 |  |  | — |  |  | 4,741 |
Additions to property under development | (112 | ) |  | (366,170 | ) |  | (42,154 | ) |  | (408,436 | )
Advances to subsidiaries, net | (406,389 | ) |  | 334,011 |  |  | 72,378 |  |  | — |
Net cash used by investing activities | (407,119 | ) |  | (150,124 | ) |  | (11,296 | ) |  | (568,539 | )
Financing activities: |  |  |  |  |  |  |
Proceeds from debt facilities | 701,914 |  |  | 155,000 |  |  | — |  |  | 856,914 |
Principal payments on debt | (142,000 | ) |  | (315,310 | ) |  | (46,004 | ) |  | (503,314 | )
Deferred financing fees paid | (7,038 | ) |  | (7 | ) |  | (2 | ) |  | (7,047 | )
Net proceeds from issuance of common shares | 190,158 |  |  | — |  |  | — |  |  | 190,158 |
Impact of stock option exercises, net | (3,394 | ) |  | — |  |  | — |  |  | (3,394 | )
Purchase of common shares for treasury | (8,222 | ) |  | — |  |  | — |  |  | (8,222 | )
Dividends paid to shareholders | (233,073 | ) |  | — |  |  | — |  |  | (233,073 | )
Net cash provided (used) by financing activities | 498,345 |  |  | (160,317 | ) |  | (46,006 | ) |  | 292,022 |
Effect of exchange rate changes on cash | — |  |  | (6 | ) |  | (990 | ) |  | (996 | )
Net increase (decrease) in cash and cash equivalents | 2,323 |  |  | (105 | ) |  | (1,271 | ) |  | 947 |
Cash and cash equivalents at beginning of the period | (1,234 | ) |  | 840 |  |  | 3,730 |  |  | 3,336 |
Cash and cash equivalents at end of the period | $ | 1,089 |  |  | $ | 735 |  |  | $ | 2,459 |  |  | $ | 4,283 |
Condensed Consolidating Statement of Cash Flows For the Year Ended December 31, 2014
| EPR Properties (Issuer) |  | Wholly Owned Subsidiary Guarantors |  | Non-Guarantor Subsidiaries |  | Consolidated
Intercompany fee income (expense) | $ | 3,124 |  |  | $ | — |  |  | $ | (3,124 | ) |  | $ | — |
Interest income (expense) on intercompany receivable/payable | — |  |  | — |  |  | — |  |  | — |
Net cash provided (used) by other operating activities | (60,684 | ) |  | 250,337 |  |  | 60,499 |  |  | 250,152 |
Net cash provided (used) by operating activities of continuing operations | (57,560 | ) |  | 250,337 |  |  | 57,375 |  |  | 250,152 |
Net cash provided by operating activities of discontinued operations | — |  |  | 47 |  |  | 96 |  |  | 143 |
Net cash provided (used) by operating activities | (57,560 | ) |  | 250,384 |  |  | 57,471 |  |  | 250,295 |
Investing activities: |  |  |  |  |  |  |
Acquisition of rental properties and other assets | (438 | ) |  | (58,930 | ) |  | (25,837 | ) |  | (85,205 | )
Proceeds from sale of real estate | — |  |  | — |  |  | 12,055 |  |  | 12,055 |
Proceeds from settlement of derivative | — |  |  | — |  |  | 5,725 |  |  | 5,725 |
Investment in mortgage note receivable | — |  |  | (26,716 | ) |  | (67,161 | ) |  | (93,877 | )
Proceeds from mortgage note receivable paydown | — |  |  | 52,834 |  |  | 23,422 |  |  | 76,256 |
Investment in promissory notes receivable | — |  |  | (721 | ) |  | (3,666 | ) |  | (4,387 | )
Proceeds from promissory note paydown | — |  |  | — |  |  | 1,750 |  |  | 1,750 |
Proceeds from sale of investment in a direct financing lease, net | — |  |  | 46,092 |  |  | — |  |  | 46,092 |
Additions to property under development | (821 | ) |  | (320,964 | ) |  | (12,850 | ) |  | (334,635 | )
Advances to subsidiaries, net | (16,206 | ) |  | (1,510 | ) |  | 17,716 |  |  | — |
Net cash used in investing activities | (17,465 | ) |  | (309,915 | ) |  | (48,846 | ) |  | (376,226 | )
Financing activities: |  |  |  |  |  |  |
Proceeds from debt facilities | 20,000 |  |  | 359,000 |  |  | — |  |  | 379,000 |
Principal payments on debt | — |  |  | (300,270 | ) |  | (9,983 | ) |  | (310,253 | )
Deferred financing fees paid | (337 | ) |  | (275 | ) |  | (202 | ) |  | (814 | )
Costs associated with loan refinancing or payoff (cash portion) | — |  |  | (25 | ) |  | — |  |  | (25 | )
Net proceeds from issuance of common shares | 264,158 |  |  | — |  |  | — |  |  | 264,158 |
Impact of stock option exercises, net | 50 |  |  | — |  |  | — |  |  | 50 |
Purchase of common shares for treasury | (2,892 | ) |  | — |  |  | — |  |  | (2,892 | )
Dividends paid to shareholders | (207,637 | ) |  | — |  |  | — |  |  | (207,637 | )
Net cash provided (used) by financing activities | 73,342 |  |  | 58,430 |  |  | (10,185 | ) |  | 121,587 |
Effect of exchange rate changes on cash | — |  |  | 39 |  |  | (317 | ) |  | (278 | )
Net decrease in cash and cash equivalents | (1,683 | ) |  | (1,062 | ) |  | (1,877 | ) |  | (4,622 | )
Cash and cash equivalents at beginning of the period | 449 |  |  | 1,902 |  |  | 5,607 |  |  | 7,958 |
Cash and cash equivalents at end of the period | $ | (1,234 | ) |  | $ | 840 |  |  | $ | 3,730 |  |  | $ | 3,336 |
Condensed Consolidating Statement of Cash Flows For the Year Ended December 31, 2013
| EPR Properties (Issuer) |  | Wholly Owned Subsidiary Guarantors |  | Non-Guarantor Subsidiaries |  | Consolidated
Intercompany fee income (expense) | $ | 2,629 |  |  | $ | — |  |  | $ | (2,629 | ) |  | $ | — |
Interest income (expense) on intercompany receivable/payable | 17,848 |  |  | — |  |  | (17,848 | ) |  | — |
Net cash provided (used) by other operating activities | (44,752 | ) |  | 216,982 |  |  | 59,209 |  |  | 231,439 |
Net cash provided (used) by operating activities of continuing operations | (24,275 | ) |  | 216,982 |  |  | 38,732 |  |  | 231,439 |
Net cash provided by operating activities of discontinued operations | — |  |  | 286 |  |  | 2,395 |  |  | 2,681 |
Net cash provided (used) by operating activities | (24,275 | ) |  | 217,268 |  |  | 41,127 |  |  | 234,120 |
Investing activities: |  |  |  |  |  |  |
Acquisition of rental properties and other assets | (1,358 | ) |  | (118,233 | ) |  | (3,906 | ) |  | (123,497 | )
Proceeds from sale of real estate | — |  |  | — |  |  | 797 |  |  | 797 |
Investment in unconsolidated joint ventures | (1,607 | ) |  | — |  |  | — |  |  | (1,607 | )
Investment in mortgage notes receivable | (11,797 | ) |  | (46,375 | ) |  | (2,396 | ) |  | (60,568 | )
Proceeds from mortgage note receivable paydown | — |  |  | 202 |  |  | 1,698 |  |  | 1,900 |
Investment in promissory notes receivable | — |  |  | (1,278 | ) |  | — |  |  | (1,278 | )
Proceeds from promissory note receivable paydown | 117 |  |  | — |  |  | 910 |  |  | 1,027 |
Investment in a direct financing lease, net | — |  |  | (3,262 | ) |  | — |  |  | (3,262 | )
Additions to property under development | (18 | ) |  | (190,205 | ) |  | (7,048 | ) |  | (197,271 | )
Investment in intercompany notes payable | 103,104 |  |  | — |  |  | (103,104 | ) |  | — |
Advances to subsidiaries, net | (380,190 | ) |  | 255,824 |  |  | 124,366 |  |  | — |
Net cash provided (used) by investing activities of continuing operations | (291,749 | ) |  | (103,327 | ) |  | 11,317 |  |  | (383,759 | )
Net proceeds from sale of real estate from discontinued operations | — |  |  | — |  |  | 47,301 |  |  | 47,301 |
Net cash provided (used) by investing activities | (291,749 | ) |  | (103,327 | ) |  | 58,618 |  |  | (336,458 | )
Financing activities: |  |  |  |  |  |  |
Proceeds from debt facilities | 300,000 |  |  | 346,000 |  |  | — |  |  | 646,000 |
Principal payments on debt | — |  |  | (454,683 | ) |  | (97,785 | ) |  | (552,468 | )
Deferred financing fees paid | (5,620 | ) |  | (2,494 | ) |  | (19 | ) |  | (8,133 | )
Costs associated with loan refinancing or payoff (cash portion) | — |  |  | (1,753 | ) |  | (4,037 | ) |  | (5,790 | )
Net proceeds from issuance of common shares | 220,785 |  |  | — |  |  | — |  |  | 220,785 |
Impact of stock option exercises, net | 947 |  |  | — |  |  | — |  |  | 947 |
Purchase of common shares for treasury | (3,246 | ) |  | — |  |  | — |  |  | (3,246 | )
Dividends paid to shareholders | (197,924 | ) |  | — |  |  | — |  |  | (197,924 | )
Net cash provided (used) by financing activities | 314,942 |  |  | (112,930 | ) |  | (101,841 | ) |  | 100,171 |
Effect of exchange rate changes on cash | — |  |  | (13 | ) |  | (526 | ) |  | (539 | )
Net increase (decrease) in cash and cash equivalents | (1,082 | ) |  | 998 |  |  | (2,622 | ) |  | (2,706 | )
Cash and cash equivalents at beginning of the period | 1,531 |  |  | 904 |  |  | 8,229 |  |  | 10,664 |
Cash and cash equivalents at end of the period | $ | 449 |  |  | $ | 1,902 |  |  | $ | 5,607 |  |  | $ | 7,958 |

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