exv99w2

Exhibit 99.2

Supplemental Operating and Financial Data

For the Three and Six Months Ended June 30, 2009

July 27, 2009

Entertainment Properties Trust
Supplemental Operating and Financial Data
For the Three and Six Months Ended June 30, 2009

Table of Contents


Section	Page


2009 Capital Spending and Disposition Summaries		4

Portfolio Data

Investment Information by Asset Type		5
Top Ten Customers by Revenue		10

Financial data

Summary of Long-Term Debt		11
Principal Payments Due on Long-Term Debt		12
Summary of Mortgage Notes Receivable		13
Principal Payments Due on Mortgage Notes Receivable		14

CAUTIONARY STATEMENT CONCERNING FORWARD LOOKING STATEMENTS

With the exception of historical information, certain information contained or incorporated by reference herein constitutes forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The forward-looking statements may refer to our financial condition, results of operations, plans, objectives, acquisition or disposition of properties, future expenditures for development projects, capital resources, future financial performance and business. Forward-looking statements are not guarantees of performance. They involve numerous risks, uncertainties and assumptions. Our future results, financial condition and business may differ materially from those expressed in these forward-looking statements In addition, references to our budgeted amounts are forward looking statements. These forward-looking statements represent our intentions, plans, expectations and beliefs and are subject to numerous assumptions, risks and uncertainties. Many of the factors that will determine these items are beyond our ability to control or predict. For further discussion of these factors see “Risk Factors” in our most recent annual report on Form 10-K and, to the extent applicable, in our quarterly reports on Form 10-Q.

For these statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on our forward-looking statements, which speak only as of the date indicated herein or the date of any document incorporated by reference herein. All subsequent written and oral forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. We do not undertake any obligation to release publicly any revisions to our forward-looking statements to reflect events or circumstances after the date hereof.

USE OF EBITDA AS A NON-GAAP FINANCIAL MEASURE

EBITDA is a widely used financial measure in many industries, including the REIT industry, and is presented to assist investors and analysts in analyzing the performance of the Company. It is helpful as it excludes various items included in net income that are not indicative of operating performance, such as gains (or losses) from sales of property and depreciation and amortization and is used in computing various financial ratios as a measure of operational performance. The Company computes EBITDA as the sum of net income plus interest expense (net), depreciation and amortization, gain or loss on sale of real estate, noncontrolling interests, equity in income from joint ventures and discontinued operations. The Company’s method of calculating EBITDA may be different from methods used by other REITs and, accordingly, may not be comparable to such other REITs. EBITDA does not represent cash generated from operations as defined by GAAP and is not indicative of cash available to fund all cash needs, including distributions. It should not be considered as an alternative to net income for the purpose of evaluating the Company’s performance or to cash flows as a measure of liquidity.

Entertainment Properties Trust
Capital Spending and Disposition Summaries
For the Three and Six Months Ended June 30, 2009
(Unaudited)
(Dollars in thousands)

2009 Capital Spending:

Capital Spending

Three Months Ended

Six Months Ended

Description

Location

Date

June 30, 2009

Development of Schlitterbahn Vacation Village

Kansas City, KS

various

17,679

27,768

Additions to Toronto Life Square mortgage note receivable

Toronto, Ontario

2/6/2009

—

767

Development of custom crush facility

Sonoma County, CA

various

3,008

4,092

Development of entertainment retail center

Suffolk, VA

various

2,004

3,707

Development of additional gross leasable area

Ontario, Canada

various

1,146

1,934

Development at Rb Winery

Hopland, CA

various

1,386

2,428

Development of theatre

Glendora, CA

various

1,004

Investment in RB Wine Promissory Note

Hopland, CA

various

—

1,110

Investment in Sapphire Wines Promissory Note

Pasa Robles, CA

various

—

2,748

Capitalized building improvements

various

233

744

Other capital acquisitions

various

535

879

Total capital spending

26,002

47,181

2009 Disposition:

Description

Location

Date

Cash Received

Gain (Loss)

No dispositions occurred during the three or six months ended June 30, 2009

Entertainment Properties Trust
Financial Information by Asset Type
For the Three Months Ended June 30, 2009
(Unaudited)
(Dollars in thousands)


							Public									Waterpark/
							Charter			Vineyards and			Metropolitan			Concord
	Theatres			Retail			Schools			Wineries			Ski Areas			Developments			Subtotal			Unallocated			Consolidated

Rental revenue	$	38,656		$	7,509			—		$	4,031		$	311			—			50,507			—		$	50,507
Tenant reimbursements		1,501			2,757			—			—			—			—			4,258			—			4,258
Other income		23			429			—			6			—			—			458			270			728
Mortgage and other financing income		944			50			5,031			404			3,298			1,497			11,224			—			11,224

Total revenue		41,124			10,745			5,031			4,441			3,609			1,497			66,447			270			66,717

Property operating expense		1,361			4,993			—			28			—			—			6,382			—			6,382
Other expense		—			476			—			378			—			—			854			—			854

Total investment expenses		1,361			5,469			—			406			—			—			7,236			—			7,236

General and administrative expense		—			—			—			—			—			—			—			4,278			4,278

EBITDA	$	39,763		$	5,276		$	5,031		$	4,035		$	3,609		$	1,497			59,211		$	(4,008	)		55,203

% of EBITDA		67	%		9	%		8	%		7	%		6	%		3	%		100	%

		76		%
Reconciliation to Consolidated Statements of Income:
Noncontrolling interests																							1,709			1,709
Interest expense, net																							(17,482	)		(17,482	)
Costs associated with loan refinancing																							(117	)		(117	)
Depreciation and amortization																							(11,834	)		(11,834	)
Equity in income from joint ventures																							225			225

Income from continuing operations																										27,704
Discontinued operations:
Income from discontinued operations																							—			—

Net income																										27,704
Preferred dividend requirements																							(7,552	)		(7,552	)

Net income available to common shareholders																									$	20,152

Entertainment Properties Trust
Financial Information by Asset Type
For the Six Months Ended June 30, 2009
(Unaudited)
(Dollars in thousands)


							Public									Waterpark/
							Charter			Vineyards			Metropolitan			Concord
	Theatres			Retail			Schools			and Wineries			Ski Areas			Developments			Subtotal			Unallocated			Consolidated

Rental revenue	$	77,016		$	15,260			—		$	8,020		$	622			—			100,918			—		$	100,918
Tenant reimbursements		3,186			5,707			—			—			—			—			8,893			—			8,893
Other income		45			1,017			—			26			—			—			1,088			780			1,868
Mortgage and other financing income		1,746			96			10,034			428			6,578			2,860			21,742			—			21,742

Total revenue		81,993			22,080			10,034			8,474			7,200			2,860			132,641			780			133,421

Property operating expense		4,361			10,003			—			36			—			—			14,400			—			14,400
Other expense		—			1,036			—			436			—			—			1,472			—			1,472

Total investment expenses		4,361			11,039			—			472			—			—			15,872			—			15,872

General and administrative expense		—			—			—			—			—			—			—			8,404			8,404
EBITDA	$	77,632		$	11,041		$	10,034		$	8,002		$	7,200		$	2,860			116,769		$	(7,624	)		109,145

% of EBITDA		67	%		9	%		9	%		7	%		6	%		2	%		100	%


	76%
Reconciliation to Consolidated Statements of Income:
Noncontrolling interests																							2,943			2,943
Interest expense, net																							(34,919	)		(34,919	)
Costs associated with loan refinancing																							(117	)		(117	)
Depreciation and amortization																							(24,463	)		(24,463	)
Equity in income from joint ventures																							444			444

Income from continuing operations																										53,033
Discontinued operations:
Income from discontinued operations																							—			—

Net income																										53,033
Preferred dividend requirements																							(15,103	)		(15,103	)

Net income available to common shareholders																									$	37,930

Entertainment Properties Trust
Financial Information by Asset Type
For the Six Months Ended June 30, 2009
(Unaudited)
(Dollars in thousands)


										Public						Waterpark/
							Metropolitan			Charter			Vineyards and			Concord
	Theatres			Retail			Ski Areas			Schools			Wineries			Developments			Subtotal			Unallocated			Consolidated

Rental revenue	$	38,411		$	9,086		$	308			—		$	2,135			—			49,940			—		$	49,940
Tenant reimbursements		1,176			4,018			—			—			—			—			5,194			—			5,194
Other income		22			469			—			—			—			—			491			—			491
Mortgage and other financing income		5,393			93			3,044			2,789			113			1,698			13,130			—			13,130

Total revenue		45,002			13,666			3,352			2,789			2,248			1,698			68,755			—			68,755

Property operating expense		2,297			3,972			—			38			2			—			6,309			—			6,309
Other expense		—			494			—			—			—			—			494			128			622

Total investment expenses		2,297			4,466			—			38			2			—			6,803			128			6,931

General and administrative expense		—			—			—			—			—			—			—			3,938			3,938

EBITDA	$	42,705		$	9,200		$	3,352		$	2,751		$	2,246		$	1,698			61,952		$	(4,066	)		57,886

% of EBITDA		69	%		15	%		5	%		4	%		4	%		3	%		100	%

	84%
Reconciliation to Consolidated Statements of Income:
Noncontrolling interests																							478			478
Interest expense, net																							(16,960	)		(16,960	)
Depreciation and amortization																							(10,341	)		(10,341	)
Equity in income from joint ventures																							245			245

Income from continuing operations																										31,308
Discontinued operations:
Loss from discontinued operations																							(16	)		(16	)
Gain on sale of real estate																							119			119

Net income																										31,411
Preferred dividend requirements																							(7,552	)		(7,552	)

Net income available to common shareholders																									$	23,859

Entertainment Properties Trust
Financial Information by Asset Type
For the Six Months Ended June 30, 2009
(Unaudited)
(Dollars in thousands)


													Waterpark/			Public
							Metropolitan			Vineyards			Concord			Charter
	Theatres			Retail			Ski Areas			and Wineries			Developments			Schools			Subtotal			Unallocated			Consolidated

Rental revenue	$	77,113		$	17,767		$	613		$	3,569			—			—			99,062			—		$	99,062
Tenant reimbursements		2,428			8,437			—			—			—			—			10,865			—			10,865
Other income		46			1,156			—			—			—			—			1,202			—			1,202
Mortgage and other financing income		10,589			220			6,038			225			3,535			2,877			23,484			—			23,484

Total revenue		90,176			27,580			6,651			3,794			3,535			2,877			134,613			—			134,613

Property operating expense		4,973			8,322			—			2			—			38			13,335			—			13,335
Other expense		—			1,048			—			—			—			—			1,048			509			1,557

Total investment expenses		4,973			9,370			—			2			—			38			14,383			509			14,892

General and administrative expense		—			—			—			—			—			—			—			8,352			8,352
EBITDA	$	85,203		$	18,210		$	6,651		$	3,792		$	3,535		$	2,839			120,230		$	(8,861	)		111,369

% of EBITDA		71	%		15	%		6	%		3	%		3	%		2	%		100	%

	86%
Reconciliation to Consolidated Statements of Income:
Noncontrolling interests																							986			986
Interest expense, net																							(34,428	)		(34,428	)
Depreciation and amortization																							(21,014	)		(21,014	)
Equity in income from joint ventures																							1,527			1,527

Income from continuing operations																										58,440
Discontinued operations:
Loss from discontinued operations																							(27	)		(27	)
Gain on sale of real estate																							119			119

Net income																										58,532
Preferred dividend requirements																							(13,162	)		(13,162	)

Net income available to common shareholders																									$	45,370

Entertainment Properties Trust
Investment Information by Asset Type
As of June 30, 2009 and December 31, 2008
(Unaudited)
(Dollars in thousands)


	As of June 30, 2009
							Vineyards			Public			Waterpark/
	Retail/			Metropolitan			and			Charter			Concord
	Theatres			Ski Areas			Wineries			Schools			Developments			Subtotal			Unallocated			Consolidated

Rental properties, net of accumulated depreciation	$	1,537,058		$	11,974		$	195,968		$	—		$	—		$	1,745,000		$	—		$	1,745,000
Add back accumulated depreciation on rental properties		226,906			1,033			7,533			—			—			235,472			—			235,472
Property under development		17,126			—			5,721			—			—			22,847			—			22,847
Mortgage notes and related accrued interest receivable		108,915			133,986			—			—			295,731			538,632			—			538,632
Investment in direct financing leases		—			—			—			167,945			—			167,945			—			167,945
Investment in joint ventures		2,457			—			—			—			—			2,457			—			2,457
Intangible assets, net of accumulated amortization		10,188			—			—			—			—			10,188			—			10,188
Add back accumulated amortization on intangible assets		9,804			—			—			—			—			9,804			—			9,804
Accounts and notes receivable		28,803			—			10,498			3,750			—			43,051			30,190			73,241
Less accounts receivable		—			—			—			—			—			—			(30,190	)		(30,190	)

Total investments	$	1,941,257		$	146,993		$	219,720		$	171,695		$	295,731		$	2,775,396		$	—		$	2,775,396

% of total investments		70	%		5	%		8	%		6	%		11	%		100	%


	As of December 31, 2008
							Vineyards			Public			Waterpark/
	Retail/			Metropolitan			and			Charter			Concord
	Theatres			Ski Areas			Wineries			Schools			Developments			Subtotal			Unallocated			Consolidated

Rental properties, net of accumulated depreciation	$	1,533,929		$	12,128		$	188,969		$	—		$	—		$	1,735,026		$	—		$	1,735,026
Add back accumulated depreciation on rental properties		208,504			879			4,695			—			—			214,078			—			214,078
Property under development		21,916			—			8,919			—			—			30,835			—			30,835
Mortgage notes and related accrued interest receivable		106,940			132,468			—			—			269,098			508,506			—			508,506
Investment in direct financing leases		—			—			—			166,089			—			166,089			—			166,089
Investment in joint ventures		2,493			—			—			—			—			2,493			—			2,493
Intangible assets, net of accumulated amortization		12,400			—			—			—			—			12,400			—			12,400
Add back accumulated amortization on intangible assets		7,077			—			—			—			—			7,077			—			7,077
Accounts and notes receivable		31,150			—			5,000			3,756			—			39,906			33,406			73,312
Less accounts receivable		—			—			—			—			—			—			(33,406	)		(33,406	)

Total investments	$	1,924,409		$	145,475		$	207,583		$	169,845		$	269,098		$	2,716,410		$	—		$	2,716,410

% of total investments		71	%		5	%		8	%		6	%		10	%		100	%

Entertainment Properties Trust
Top Ten Customers by Revenue
For the Three and Six Months Ended June 30, 2009
(Dollars in thousands)


		Total Revenue For The					Total Revenue For The
		Three Months Ended		Percentage of			Six Months Ended		Percentage of
Customers	Asset Type	June 30, 2009		Total Revenue			June 30, 2009		Total Revenue

1 American Multi-Cinema, Inc.	Retail/Theatres	$	25,349		38	%	$	50,698		38	%

2 Imagine Schools, Inc.	Public Charter Schools	$	5,031		8	%	$	10,034		8	%

3 Regal Cinemas, Inc.	Retail/Theatres	$	4,963		8	%	$	10,042		8	%

4 Peak Resorts, Inc.	Metropolitan Ski Areas	$	3,609		5	%	$	7,200		5	%

5 Rave Motion Pictures	Retail/Theatres	$	3,577		5	%	$	7,115		5	%

6 Southern Theatres, LLC	Retail/Theatres Vineyardsand	$	2,839		4	%	$	5,526		4	%

7 Ascentia Wine Estates, LLC	Wineries Waterpark	$	2,501		4	%	$	5,002		4	%

8 SVVI, LLC	Development	$	1,516		2	%	$	2,879		2	%

9 Muvico Entertainment, LLC	Retail/Theatres	$	929		1	%	$	2,868		2	%

10 Sapphire Wines, LLC	Vineyards and Wineries	$	913		1	%	$	1,458		1	%


Total		$	51,227		76	%	$	102,822		77	%

Entertainment Properties Trust
Summary of Long-Term Debt
As of June 30, 2009 and December 31, 2008
(Unaudited)
(Dollars in thousands)


	June 30, 2009		December 31, 2008

Mortgage note payable, variable rate, due September 10, 2010	$	56,250		56,250
Mortgage note payable, 5.60%, due October 7, 2010, two to four year extension at Company’s option upon meeting certain conditions		113,667		113,917
Unsecured revolving variable rate credit facility, due October 26, 2011		116,000		149,000
Term loan payable, variable rate, due October 26, 2011, one year extension available at Company’s option		118,200		118,800
Mortgage notes payable, 6.57%-6.73%, due October 1, 2012		46,438		47,056
Mortgage note payable, 6.63%, due November 1, 2012		25,958		26,302
Mortgage notes payable, 4.26%-9.012%, due February 10, 2013		122,440		125,424
Mortgage note payable, 6.84%, due March 1, 2014		94,081		91,583
Mortgage note payable, 5.58%, due April 1, 2014		61,209		61,742
Mortgage note payable, 5.56%, due June 5, 2015		34,038		34,311
Mortgage notes payable, 5.77%, due November 6, 2015		73,618		74,443
Mortgage notes payable, 5.84%, due March 6, 2016		41,351		41,798
Mortgage notes payable, 6.37%, due June 30, 2016		29,424		29,712
Mortgage notes payable, 6.10%, due October 1, 2016		26,453		26,716
Mortgage notes payable, 6.02%, due October 6, 2016		19,949		20,149
Mortgage note payable, 6.06%, due March 1, 2017		11,100		11,207
Mortgage note payable, 6.07%, due April 6, 2017		11,421		11,530
Mortgage notes payable, 5.73%-5.95%, due May 1, 2017		52,969		53,494
Mortgage notes payable, 5.86%, due August 1, 2017		27,091		27,352
Term loan payable, 5.11%-5.78%, due December 1, 2017-June 5, 2018		94,907		92,120
Mortgage note payable, 6.19%, due February 1, 2018		16,902		17,133
Mortgage note payable, 7.37%, due July 15, 2018		12,255		12,694
Bond payable, variable rate, due October 1, 2037		10,635		10,635
Mortgage note payable, 5.50%		4,000		4,000
Mortgage notes payable, 5.00%		5,000		5,000

Total	$	1,225,356		1,262,368

Entertainment Properties Trust
Principal Payments Due on Long-Term Debt
As of June 30, 2009
(Unaudited)
(Dollars in thousands)


	Amount			Amount
	Without Extensions			With Extensions
Year:
2009	$	12,788			12,788
2010		195,627	⁽¹⁾		83,294
2011		258,795	⁽²⁾		28,595
2012		92,714			324,914	⁽¹⁾
2013		127,822			128,822
Thereafter		537,610			646,943

Total	$	1,225,356			1,225,356


⁽¹⁾		In addition to recurring principal payments, this amount includes $56.25 million in debt maturing in September 2010 related to the planned resort development in Sullivan County, New York and $113.5 million in debt maturing in October 2010 secured by our entertainment retail center in White Plains, New York. The $113.5 million related to White Plains is extendable for two to four years based on meeting certain conditions including a minimum net operating income threshold. Amount is shown in the “Amount With Extensions” column as if this note was extended for two years.

⁽²⁾		In addition to recurring principal payments, this amount includes $115.2 million of maturing debt secured by one theatre and one ski resort as well as five mortgage notes receivable. This debt is extendable at the Company’s option until October 26, 2012.

Entertainment Properties Trust
Summary of Mortgage Notes Receivable
As of June 30, 2009 and December 31, 2008
(Unaudited)
(Dollars in thousands)


	June 30, 2009		December 31, 2008
Mortgage note and related accrued interest receivable, LIBOR plus 3.5%, due on demand	$	—		3,651
Mortgage note and related accrued interest receivable, 10.00%, due April 2, 2010		31,253		29,735
Mortgage note and related accrued interest receivable, 15.00%, due June 2, 2010-May 31, 2013		108,914		103,289
Mortgage note and related accrued interest receivable, 9.00%, due September 10, 2010		133,119		134,150
Mortgage note and related accrued interest receivable, LIBOR plus 3.5%, due May 1, 2019		162,613		134,948
Mortgage note, 9.53%, due March 10, 2027		8,000		8,000
Mortgage notes, 10.15%, due April 3, 2027		62,500		62,500
Mortgage note, 9.40%, due October 30, 2027		32,233		32,233

Total	$	538,632		508,506

Entertainment Properties Trust
Principal Payments Due on Mortgage Notes Receivable
As of June 30, 2009
(Unaudited)
(Dollars in thousands)


	Amount
Year:
2009	$	50,758
2010		201,523
2011		5,611
2012		12,686
2013		3,224
Thereafter		264,830

Total	$	538,632