XML 71 R34.htm IDEA: XBRL DOCUMENT v2.4.0.8
Segment Information (Tables)
9 Months Ended
Sep. 30, 2014
Segment Reporting [Abstract]  
Schedule of Reportable Operating Segments
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