Segment Information

The Company groups investments into four reportable operating segments: Entertainment, Education, Recreation and Other. The financial information summarized below is presented by reportable operating segment:



Balance Sheet Data:
	As of September 30, 2014
	Entertainment		Education		Recreation		Other		Corporate/Unallocated		Consolidated
Total Assets	$	2,024,144	$	690,036	$	707,852	$	212,783	$	44,416	$	3,679,231

	As of December 31, 2013
	Entertainment		Education		Recreation		Other		Corporate/Unallocated		Consolidated
Total Assets	$	1,921,836	$	542,052	$	553,019	$	210,064	$	45,305	$	3,272,276



Operating Data:
	Three Months Ended September 30, 2014
	Entertainment		Education		Recreation		Other		Corporate/Unallocated		Consolidated
Rental revenue	$	60,616	$	7,490	$	6,069	$	235	$	—	$	74,410
Tenant reimbursements	4,486		—		—		—		—		4,486
Other income	5		—		—		191		149		345
Mortgage and other financing income	1,789		7,561		10,050		97		—		19,497
Total revenue	66,896		15,051		16,119		523		149		98,738

Property operating expense	5,759		—		—		189		—		5,948
Other expense	—		—		—		248		—		248
Total investment expenses	5,759		—		—		437		—		6,196
Net operating income - before unallocated items	61,137		15,051		16,119		86		149		92,542

Reconciliation to Consolidated Statements of Income:
General and administrative expense											(6,719		)
Interest expense, net											(20,801		)
Transaction costs											(369		)
Provision for loan loss											(3,777		)
Depreciation and amortization											(17,421		)
Equity in income from joint ventures											300
Income tax expense											(1,047		)
Discontinued operations:
Loss from discontinued operations											(3		)
Net income attributable to EPR Properties											42,705
Preferred dividend requirements											(5,952		)
Net income available to common shareholders of EPR Properties											$	36,753



	Three Months Ended September 30, 2013
	Entertainment		Education		Recreation		Other		Corporate/Unallocated		Consolidated
Rental revenue	$	54,800	$	4,422	$	2,682	$	305	$	—	$	62,209
Tenant reimbursements	4,552		—		—		—		—		4,552
Other income	29		—		—		1,373		39		1,441
Mortgage and other financing income	2,258		8,507		8,807		67		—		19,639
Total revenue	61,639		12,929		11,489		1,745		39		87,841

Property operating expense	6,365		—		—		214		—		6,579
Other expense	—		—		—		204		—		204
Total investment expenses	6,365		—		—		418		—		6,783
Net operating income - before unallocated items	55,274		12,929		11,489		1,327		39		81,058

Reconciliation to Consolidated Statements of Income:
General and administrative expense											(6,764		)
Costs associated with loan refinancing or payoff											(223		)
Interest expense, net											(20,435		)
Transaction costs											(317		)
Depreciation and amortization											(13,141		)
Equity in income from joint ventures											351
Discontinued operations:
Income from discontinued operations											(195		)
Gain on sale of real estate											3,168
Net income attributable to EPR Properties											43,502
Preferred dividend requirements											(5,951		)
Net income available to common shareholders of EPR Properties											$	37,551



	Nine Months Ended September 30, 2014
	Entertainment			Education		Recreation		Other		Corporate/Unallocated		Consolidated
Rental revenue	$	176,940		$	18,486	$	14,528	$	805	$	—	$	210,759
Tenant reimbursements	13,355			—		—		—		—		13,355
Other income (loss)	(7		)	—		—		284		429		706
Mortgage and other financing income	5,279			23,779		26,212		291		—		55,561
Total revenue	195,567			42,265		40,740		1,380		429		280,381

Property operating expense	17,413			—		—		523		—		17,936
Other expense	—			—		—		566		—		566
Total investment expenses	17,413			—		—		1,089		—		18,502
Net operating income - before unallocated items	178,154			42,265		40,740		291		429		261,879

Reconciliation to Consolidated Statements of Income:
General and administrative expense												(21,260		)
Interest expense, net												(61,254		)
Transaction costs												(1,321		)
Provision for loan loss												(3,777		)
Depreciation and amortization												(48,750		)
Equity in income from joint ventures												878
Gain on sale of land												330
Gain on sale of investment in a direct financing lease												220
Income tax expense												(3,332		)
Discontinued operations:
Income from discontinued operations												8
Transaction (costs) benefit												3,376
Net income attributable to EPR Properties												126,997
Preferred dividend requirements												(17,856		)
Net income available to common shareholders												$	109,141



	Nine Months Ended September 30, 2013
	Entertainment		Education		Recreation		Other		Corporate/Unallocated		Consolidated
Rental revenue	$	164,305	$	10,732	$	6,373	$	1,348	$	—	$	182,758
Tenant reimbursements	13,748		—		—		—		—		13,748
Other income	77		—		—		1,451		10		1,538
Mortgage and other financing income	6,685		24,609		24,151		225		—		55,670
Total revenue	184,815		35,341		30,524		3,024		10		253,714

Property operating expense	19,341		—		—		263		—		19,604
Other expense	—		—		—		508		—		508
Total investment expenses	19,341		—		—		771		—		20,112
Net operating income - before unallocated items	165,474		35,341		30,524		2,253		10		233,602

Reconciliation to Consolidated Statements of Income:
General and administrative expense											(19,468		)
Costs associated with loan refinancing or payoff											(6,166		)
Gain on early extinguishment of debt											4,539
Interest expense, net											(60,424		)
Transaction costs											(859		)
Depreciation and amortization											(39,140		)
Equity in income from joint ventures											1,168
Discontinued operations:
Income from discontinued operations											198
Gain on sale of real estate											3,733
Net income attributable to EPR Properties											117,183
Preferred dividend requirements											(17,855		)
Net income available to common shareholders											$	99,328