XML 44 R32.htm IDEA: XBRL DOCUMENT v3.24.2.u1

Segment Information (Tables)

3 Months Ended

6 Months Ended

Jun. 30, 2024

Jun. 30, 2024

Segment Reporting [Abstract]

Schedule of Reportable Operating Segments

Segment Information

The Company groups its investments into two reportable operating segments: Experiential and Education.

The financial information summarized below is presented by reportable operating segment (in thousands):

Balance Sheet Data:
			As of June 30, 2024
			Experiential			Education			Corporate/Unallocated			Consolidated
Total Assets			$	5,176,331		$	427,312		$	41,724		$	5,645,367
			As of December 31, 2023
			Experiential			Education			Corporate/Unallocated			Consolidated
Total Assets			$	5,189,831		$	433,177		$	77,877		$	5,700,885

Operating Data:
			Three Months Ended June 30, 2024
			Experiential			Education			Corporate/Unallocated			Consolidated
Rental revenue			$	135,573		$	9,520		$	—		$	145,093
Other income			14,213			—			205			14,418
Mortgage and other financing income			13,374			210			—			13,584
Total revenue			163,160			9,730			205			173,095
Property operating expense			14,042			157			228			14,427
Other expense			14,833			—			—			14,833
Total investment expenses			28,875			157			228			29,260
Net operating income - before unallocated items			134,285			9,573			(23)			143,835
Reconciliation to Consolidated Statements of Income and Comprehensive Income:
General and administrative expense												(12,020)
Transaction costs												(199)
(Provision) benefit for credit losses, net												(404)
Impairment charges												(11,812)
Depreciation and amortization												(41,474)
Gain on sale of real estate												1,459
Interest expense, net												(32,820)
Equity in loss from joint ventures												(906)
Income tax expense												(557)
Net income												45,102
Preferred dividend requirements												(6,040)
Net income available to common shareholders of EPR Properties												$	39,062

Operating Data:
			Three Months Ended June 30, 2023
			Experiential			Education			Corporate/Unallocated			Consolidated
Rental revenue			$	142,421		$	9,449		$	—		$	151,870
Other income			9,825			—			299			10,124
Mortgage and other financing income			10,694			219			—			10,913
Total revenue			162,940			9,668			299			172,907
Property operating expense			13,744			—			228			13,972
Other expense			9,161			—			—			9,161
Total investment expenses			22,905			—			228			23,133
Net operating income - before unallocated items			140,035			9,668			71			149,774
Reconciliation to Consolidated Statements of Income and Comprehensive Income:
General and administrative expense												(15,248)
Retirement and severance expense												(547)
Transaction costs												(36)
(Provision) benefit for credit losses, net												275
Impairment charges												(43,785)
Depreciation and amortization												(43,705)
Loss on sale of real estate												(575)
Interest expense, net												(31,591)
Equity in loss from joint ventures												(615)
Income tax expense												(347)
Net income												13,600
Preferred dividend requirements												(6,040)
Net income available to common shareholders of EPR Properties												$	7,560

Operating Data:
			Six Months Ended June 30, 2024
			Experiential			Education			Corporate/Unallocated			Consolidated
Rental revenue			$	268,397		$	18,977		$	—		$	287,374
Other income			25,983			100			372			26,455
Mortgage and other financing income			26,079			419			—			26,498
Total revenue			320,459			19,496			372			340,327
Property operating expense			28,582			286			479			29,347
Other expense			27,809			—			—			27,809
Total investment expenses			56,391			286			479			57,156
Net operating income - before unallocated items			264,068			19,210			(107)			283,171
Reconciliation to Consolidated Statements of Income and Comprehensive Income:
General and administrative expense												(25,928)
Retirement and severance expense												(1,836)
Transaction costs												(200)
(Provision) benefit for credit losses, net												(3,141)
Impairment charges												(11,812)
Depreciation and amortization												(81,943)
Gain on sale of real estate												19,408
Interest expense, net												(64,471)
Equity in loss from joint ventures												(4,533)
Income tax expense												(904)
Net income												107,811
Preferred dividend requirements												(12,072)
Net income available to common shareholders of EPR Properties												$	95,739

Operating Data:
			Six Months Ended June 30, 2023
			Experiential			Education			Corporate/Unallocated			Consolidated
Rental revenue			$	284,121		$	19,340		$	—		$	303,461
Other income			18,933			1			523			19,457
Mortgage and other financing income			20,943			442			—			21,385
Total revenue			323,997			19,783			523			344,303
Property operating expense			27,921			—			206			28,127
Other expense			18,111			—			—			18,111
Total investment expenses			46,032			—			206			46,238
Net operating income - before unallocated items			277,965			19,783			317			298,065
Reconciliation to Consolidated Statements of Income and Comprehensive Income:
General and administrative expense												(29,213)
Retirement and severance expense												(547)
Transaction costs												(306)
(Provision) benefit for credit losses, net												(312)
Impairment charges												(43,785)
Depreciation and amortization												(84,909)
Loss on sale of real estate												(1,135)
Interest expense, net												(63,313)
Equity in income from joint ventures												(2,600)
Income tax expense												(688)
Net income												71,257
Preferred dividend requirements												(12,073)
Net income available to common shareholders of EPR Properties												$	59,184

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

+ Details

Name:	us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration