Condensed Consolidating Financial Statements (Tables)

3 Months Ended

Mar. 31, 2012

Condensed Consolidating Financial Statements [Abstract]

Condensed Consolidating Balance Sheet

Condensed Consolidating Balance Sheet As of March 31, 2012
	Entertainment Properties  Trust (Issuer)		Wholly  Owned Subsidiary Guarantors		Non- Guarantor Subsidiaries		Consolidated Elimination			Consolidated
Assets
Rental properties, net	$	—	$	720,372	$	1,110,558	$	—		$	1,830,930
Rental properties held for sale, net	—		—		3,895		—			3,895
Land held for development	—		—		184,457		—			184,457
Property under development	—		30,878		4,541		—			35,419
Mortgage notes and related accrued interest receivable, net	—		333,790		30,622		—			364,412
Investment in a direct financing lease, net	—		234,875		—		—			234,875
Investment in joint ventures	5,882		—		4,230		—			10,112
Cash and cash equivalents	2,019		274		9,181		—			11,474
Restricted cash	—		16,939		7,999		—			24,938
Intangible assets, net	—		—		4,247		—			4,247
Deferred financing costs, net	10,802		6,078		2,423		—			19,303
Accounts receivable, net	76		6,478		29,048		—			35,602
Intercompany notes receivable	100,341		—		3,873		(104,214		)	—
Notes receivable and related accrued interest receivable, net	177		—		4,812		—			4,989
Investments in subsidiaries	1,856,474		—		—		(1,856,474		)	—
Other assets	16,785		3,278		6,129		—			26,192
Total assets	$	1,992,556	$	1,352,962	$	1,406,015	$	(1,960,688	)	$	2,790,845
Liabilities and Equity
Liabilities:
Accounts payable and accrued liabilities	$	11,614	$	7,643	$	11,346	$	—		$	30,603
Dividends payable	41,119		—		—		—			41,119
Unearned rents and interest	—		14,633		1,755		—			16,388
Intercompany notes payable	—		—		104,214		(104,214		)	—
Long-term debt	490,000		58,000		676,840		—			1,224,840
Total liabilities	542,733		80,276		794,155		(104,214		)	1,312,950
Entertainment Properties Trust shareholders’ equity	1,449,823		1,272,686		583,788		(1,856,474		)	1,449,823
Noncontrolling interests	—		—		28,072		—			28,072
Total equity	1,449,823		1,272,686		611,860		(1,856,474		)	1,477,895
Total liabilities and equity	$	1,992,556	$	1,352,962	$	1,406,015	$	(1,960,688	)	$	2,790,845

Condensed Consolidating Balance Sheet As of December 31, 2011
	Entertainment Properties  Trust (Issuer)		Wholly  Owned Subsidiary Guarantors		Non- Guarantor Subsidiaries		Consolidated Elimination			Consolidated
Assets
Rental properties, net	$	—	$	694,331	$	1,124,845	$	—		$	1,819,176
Rental properties held for sale, net	—		—		4,696		—			4,696
Land held for development	—		—		184,457		—			184,457
Property under development	—		18,295		4,466		—			22,761
Mortgage notes and related accrued interest receivable, net	—		323,794		1,303		—			325,097
Investment in a direct financing lease, net	—		233,619		—		—			233,619
Investment in joint ventures	20,821		—		4,232		—			25,053
Cash and cash equivalents	1,932		302		12,391		—			14,625
Restricted cash	—		9,871		9,441		—			19,312
Intangible assets, net	—		—		4,485		—			4,485
Deferred financing costs, net	9,291		6,512		2,724		—			18,527
Accounts receivable, net	79		6,051		28,875		—			35,005
Intercompany notes receivable	100,030		—		3,788		(103,818		)	—
Notes receivable and related accrued interest receivable, net	175		—		4,840		—			5,015
Investments in subsidiaries	1,627,298		—		—		(1,627,298		)	—
Other assets	14,694		3,453		4,020		—			22,167
Total assets	$	1,774,320	$	1,296,228	$	1,394,563	$	(1,731,116	)	$	2,733,995
Liabilities and Equity
Liabilities:
Accounts payable and accrued liabilities	$	15,560	$	8,794	$	11,682	$	—		$	36,036
Dividends payable	38,711		—		—		—			38,711
Unearned rents and interest	—		5,405		1,445		—			6,850
Intercompany notes payable	—		—		103,818		(103,818		)	—
Long-term debt	250,000		223,000		681,295		—			1,154,295
Total liabilities	304,271		237,199		798,240		(103,818		)	1,235,892
Entertainment Properties Trust shareholders’ equity	1,470,049		1,059,029		568,269		(1,627,298		)	1,470,049
Noncontrolling interests	—		—		28,054		—			28,054
Total equity	1,470,049		1,059,029		596,323		(1,627,298		)	1,498,103
Total liabilities and equity	$	1,774,320	$	1,296,228	$	1,394,563	$	(1,731,116	)	$	2,733,995

Condensed Consolidating Statement Of Income

Condensed Consolidating Statement of Income For the Three Months Ended March 31, 2012
	Entertainment Properties  Trust (Issuer)			Wholly  Owned Subsidiary Guarantors			Non- Guarantors Subsidiaries			Consolidated Elimination			Consolidated
Rental revenue	$	—		$	21,975		$	36,308		$	—		$	58,283
Tenant reimbursements	—			246			4,576			—			4,822
Other income	23			1			1			—			25
Mortgage and other financing income	95			13,975			671			—			14,741
Intercompany fee income	676			—			—			(676		)	—
Interest income on intercompany notes receivable	4,215			—			85			(4,300		)	—
Total revenue	5,009			36,197			41,641			(4,976		)	77,871
Equity in subsidiaries’ earnings	23,450			—			—			(23,450		)	—
Property operating expense	—			997			5,177			—			6,174
Intercompany fee expense	—			—			676			(676		)	—
Other expense	—			—			542			—			542
General and administrative expense	—			2,978			3,489			—			6,467
Interest expense, net	6,722			918			10,501			—			18,141
Interest expense on intercompany notes payable	—			—			4,300			(4,300		)	—
Transaction costs	158			—			—			—			158
Impairment charges	—			—			12,042			—			12,042
Depreciation and amortization	256			4,058			8,143			—			12,457
Income before equity in income from joint ventures and discontinued operations	21,323			27,246			(3,229		)	(23,450		)	21,890
Equity in income (loss) from joint ventures	49			—			(2		)	—			47
Income from continuing operations	$	21,372		$	27,246		$	(3,231	)	$	(23,450	)	$	21,937
Discontinued operations:
Income (loss) from discontinued operations	—			6			(34		)	—			(28		)
Impairment charges	—			—			(801		)	—			(801		)
Gain on sale or acquisition of real estate	—			282			—			—			282
Net income	21,372			27,534			(4,066		)	(23,450		)	21,390
Add: Net income attributable to noncontrolling interests	—			—			(18		)	—			(18		)
Net income attributable to Entertainment Properties Trust	21,372			27,534			(4,084		)	(23,450		)	21,372
Preferred dividend requirements	(6,001		)	—			—			—			(6,001		)
Net income available to common shareholders of Entertainment Properties Trust	$	15,371		$	27,534		$	(4,084	)	$	(23,450	)	$	15,371
Comprehensive income	$	298		$	(55	)	$	1,347		$	(1,292	)	$	298

Condensed Consolidating Statement of Income For the Three Months Ended March 31, 2011
	Entertainment Properties  Trust (Issuer)			Wholly  Owned Subsidiary Guarantors			Non- Guarantor Subsidiaries			Consolidated Elimination			Consolidated
Rental revenue	$	—		$	19,696		$	35,686		$	—		$	55,382
Tenant reimbursements	—			342			4,319			—			4,661
Other income	23			—			1			—			24
Mortgage and other financing income	81			13,241			229			—			13,551
Intercompany fee income	685			—			—			(685		)	—
Interest income on intercompany notes receivable	4,118			—			591			(4,709		)	—
Total revenue	4,907			33,279			40,826			(5,394		)	73,618
Equity in subsidiaries’ earnings	38,616			—			—			(38,616		)	—
Property operating expense	—			964			5,202			—			6,166
Intercompany fee expense	—			—			685			(685		)	—
Other expense	—			—			493			—			493
General and administrative expense	—			2,384			3,084			—			5,468
Costs associated with loan refinancing or payoff	—			—			6,163			—			6,163
Interest expense, net	5,101			2,475			11,248			—			18,824
Interest expense on intercompany notes payable	—			—			4,709			(4,709		)	—
Transaction costs	949			—			324			—			1,273
Impairment charges	—			—			—			—			—
Depreciation and amortization	267			3,479			8,125			—			11,871
Income before equity in income from joint ventures and discontinued operations	37,206			23,977			793			(38,616		)	23,360
Equity in income from joint ventures	770			—			4			—			774
Income from continuing operations	$	37,976		$	23,977		$	797		$	(38,616	)	$	24,134
Discontinued operations:
Interest income on intercompany notes receivable	3,755			—			—			(3,755		)	—
Interest expense on intercompany notes payable	—			(3,755		)	—			3,755			—
Income (loss) from discontinued operations	—			1,785			(454		)	—			1,331
Impairment charges	—			—			(1,800		)	—			(1,800		)
Costs associated with loan refinancing	—			—			(225		)	—			(225		)
Gain on sale or acquisition of real estate	—			18,293			—			—			18,293
Net income (loss)	41,731			40,300			(1,682		)	(38,616		)	41,733
Add: Net income attributable to noncontrolling interests	—			—			(2		)	—			(2		)
Net income (loss) attributable to Entertainment Properties Trust	41,731			40,300			(1,684		)	(38,616		)	41,731
Preferred dividend requirements	(7,552		)	—			—			—			(7,552		)
Net income (loss) available to common shareholders of Entertainment Properties Trust	$	34,179		$	40,300		$	(1,684	)	$	(38,616	)	$	34,179
Comprehensive income	5,748			4,909			839			(5,748		)	5,748

Condensed Consolidating Statement Of Cash Flows

Condensed Consolidating Statement of Cash Flows For the Three Months Ended March 31, 2012
	Entertainment Properties  Trust (Issuer)			Wholly  Owned Subsidiary Guarantors			Non-Guarantor Subsidiaries			Consolidated
Intercompany fee income (expense)	$	676		$	—		$	(676	)	$	—
Interest income (expense) on intercompany receivable/payable	4,215			—			(4,215		)	—
Net cash provided (used) by other operating activities	(11,752		)	32,987			20,724			41,959
Net cash provided by operating activities	(6,861		)	32,987			15,833			41,959
Investing activities:
Acquisition of rental properties and other assets	(24		)	(31,228		)	(255		)	(31,507		)
Investment in unconsolidated joint ventures	(442		)	—			—			(442		)
Investment in mortgage notes receivable	—			(9,989		)	(14,462		)	(24,451		)
Additions to property under development	—			(12,583		)	(1,089		)	(13,672		)
Investment in intercompany notes payable	(311		)	—			311			—
Advances to subsidiaries, net	(188,117		)	185,498			2,619			—
Net cash provided (used) by investing activities of continuing operations	(188,894		)	131,698			(12,876		)	(70,072		)
Net proceeds from sale of real estate from discontinued operations	—			282			—			282
Net cash provided (used) by investing activities	(188,894		)	131,980			(12,876		)	(69,790		)
Financing activities:
Proceeds from long-term debt facilities	240,000			80,000			—			320,000
Principal payments on long-term debt	—			(245,000		)	(6,328		)	(251,328		)
Deferred financing fees paid	(1,844		)	—			(8		)	(1,852		)
Net proceeds from issuance of common shares	56			—			—			56
Impact of stock option exercises, net	(480		)	—			—			(480		)
Purchase of common shares for treasury	(3,209		)	—			—			(3,209		)
Dividends paid to shareholders	(38,681		)	—			—			(38,681		)
Net cash provided (used) by financing	195,842			(165,000		)	(6,336		)	24,506
Effect of exchange rate changes on cash	—			5			169			174
Net increase (decrease) in cash and cash equivalents	87			(28		)	(3,210		)	(3,151		)
Cash and cash equivalents at beginning of the period	1,932			302			12,391			14,625
Cash and cash equivalents at end of the period	$	2,019		$	274		$	9,181		$	11,474

Condensed Consolidating Statement of Cash Flows For the Three Months Ended March 31, 2011
	Entertainment Properties  Trust (Issuer)			Wholly  Owned Subsidiary Guarantors			Non-Guarantor Subsidiaries			Consolidated
Intercompany fee income (expense)	$	685		$	—		$	(685	)	$	—
Interest income (expense) on intercompany receivable/payable	4,118			—			(4,118		)	—
Net cash provided by other operating activities	(5,519		)	27,217			13,306			35,004
Net cash provided by operating activities	(716		)	27,217			8,503			35,004
Investing activities:
Acquisition of rental properties and other assets	(261		)	(28,970		)	(9,397		)	(38,628		)
Investment in unconsolidated joint ventures	(1,511		)	—			(1,235		)	(2,746		)
Cash paid related to Cappelli settlement	—			—			—			—
Investment in mortgage note receivable	—			(1,524		)	—			(1,524		)
Investment in a direct financing lease, net	—			(2,113		)	—			(2,113		)
Additions to property under development	—			—			(2,668		)	(2,668		)
Investment in intercompany notes payable	130,638			(132,067		)	1,429			—
Advances to subsidiaries, net	(83,403		)	(12,112		)	95,515			—
Net cash provided (used) by investing activities of continuing operations	45,463			(176,786		)	83,644			(47,679		)
Net cash used in investing activites of discontinued operations	—			(58		)	—			(58		)
Net proceeds from sale of discontinued operations	—			205,176			—			205,176
Net cash provided (used) in investing activites	45,463			28,332			83,644			157,439
Financing activities:
Proceeds from long-term debt facilities	—			163,000			—			163,000
Principal payments on long-term debt	—			(218,000		)	(92,305		)	(310,305		)
Deferred financing fees paid	(43		)	(576		)	—			(619		)
Net proceeds from issuance of common shares	66			—			—			66
Impact of stock option exercises, net	(499		)	—			—			(499		)
Proceeds from payment on shareholder loan	—			—			—			—
Purchase of common shares for treasury	(3,070		)	—			—			(3,070		)
Distributions paid to noncontrolling interests	—			—			—			—
Dividends paid to shareholders	(37,778		)	—			—			(37,778		)
Net cash provided (used) by financing activities of continuing operations	(41,324		)	(55,576		)	(92,305		)	(189,205		)
Net cash used by financing activities of discontinued operations	—			—			—			—
Net cash provided (used) by financing activities	(41,324		)	(55,576		)	(92,305		)	(189,205		)
Effect of exchange rate changes on cash	—			29			121			150
Net increase (decrease) in cash and cash equivalents	3,423			2			(37		)	3,388
Cash and cash equivalents at beginning of the period	3,356			1,116			7,304			11,776
Cash and cash equivalents at end of the period	$	6,779		$	1,118		$	7,267		$	15,164