Condensed Consolidating Balance Sheet |
Condensed Consolidating Balance Sheet As of June 30, 2015 | | | | | | | | | | | | | | | | | | | | | | EPR Properties (Issuer) | | Wholly Owned Subsidiary Guarantors | | Non- Guarantor Subsidiaries | | Consolidated Elimination | | Consolidated | Assets | | | | | | | | | | Rental properties, net | $ | — |
| | $ | 1,893,791 |
| | $ | 642,748 |
| | $ | — |
| | $ | 2,536,539 |
| Land held for development | — |
| | 2,274 |
| | 28,221 |
| | — |
| | 30,495 |
| Property under development | 4 |
| | 309,182 |
| | 184,880 |
| | — |
| | 494,066 |
| Mortgage notes and related accrued interest receivable | — |
| | 416,572 |
| | 129,673 |
| | — |
| | 546,245 |
| Investment in a direct financing lease, net | — |
| | 189,203 |
| | — |
| | — |
| | 189,203 |
| Investment in joint ventures | — |
| | — |
| | 6,101 |
| | — |
| | 6,101 |
| Cash and cash equivalents | 711 |
| | 837 |
| | 4,598 |
| | — |
| | 6,146 |
| Restricted cash | 1,085 |
| | 12,019 |
| | 2,185 |
| | — |
| | 15,289 |
| Deferred financing costs, net | 24,971 |
| | — |
| | 366 |
| | — |
| | 25,337 |
| Accounts receivable, net | 40 |
| | 37,579 |
| | 26,874 |
| | — |
| | 64,493 |
| Intercompany notes receivable | — |
| | 175,757 |
| | — |
| | (175,757 | ) | | — |
| Investments in subsidiaries | 3,487,933 |
| | — |
| | — |
| | (3,487,933 | ) | | — |
| Other assets | 19,354 |
| | 10,162 |
| | 47,962 |
| | — |
| | 77,478 |
| Total assets | $ | 3,534,098 |
| | $ | 3,047,376 |
| | $ | 1,073,608 |
| | $ | (3,663,690 | ) | | $ | 3,991,392 |
| Liabilities and Equity | | | | | | | | | | Liabilities: | | | | | | | | | | Accounts payable and accrued liabilities | $ | 49,072 |
| | $ | 26,154 |
| | $ | 5,629 |
| | $ | — |
| | $ | 80,855 |
| Dividends payable | 23,260 |
| | — |
| | — |
| | — |
| | 23,260 |
| Unearned rents and interest | — |
| | 31,934 |
| | 7,336 |
| | — |
| | 39,270 |
| Intercompany notes payable | — |
| | — |
| | 175,757 |
| | (175,757 | ) | | — |
| Debt | 1,560,000 |
| | — |
| | 385,864 |
| | — |
| | 1,945,864 |
| Total liabilities | 1,632,332 |
| | 58,088 |
| | 574,586 |
| | (175,757 | ) | | 2,089,249 |
| EPR Properties shareholders’ equity | 1,901,766 |
| | 2,989,288 |
| | 498,645 |
| | (3,487,933 | ) | | 1,901,766 |
| Noncontrolling interests | — |
| | — |
| | 377 |
| | — |
| | 377 |
| Total equity | $ | 1,901,766 |
| | $ | 2,989,288 |
| | $ | 499,022 |
| | $ | (3,487,933 | ) | | $ | 1,902,143 |
| Total liabilities and equity | $ | 3,534,098 |
| | $ | 3,047,376 |
| | $ | 1,073,608 |
| | $ | (3,663,690 | ) | | $ | 3,991,392 |
|
Condensed Consolidating Balance Sheet As of December 31, 2014 | | | | | | | | | | | | | | | | | | | | | | EPR Properties (Issuer) | | Wholly Owned Subsidiary Guarantors | | Non- Guarantor Subsidiaries | | Consolidated Elimination | | Consolidated | Assets | | | | | | | | | | Rental properties, net | $ | — |
| | $ | 1,786,622 |
| | $ | 664,912 |
| | $ | — |
| | $ | 2,451,534 |
| Land held for development | — |
| | — |
| | 206,001 |
| | — |
| | 206,001 |
| Property under development | — |
| | 175,439 |
| | 6,359 |
| | — |
| | 181,798 |
| Mortgage notes and related accrued interest receivable | — |
| | 412,625 |
| | 95,330 |
| | — |
| | 507,955 |
| Investment in a direct financing lease, net | — |
| | 199,332 |
| | — |
| | — |
| | 199,332 |
| Investment in joint ventures | — |
| | — |
| | 5,738 |
| | — |
| | 5,738 |
| Cash and cash equivalents | (1,234 | ) | | 840 |
| | 3,730 |
| | — |
| | 3,336 |
| Restricted cash | 1,000 |
| | 10,215 |
| | 1,857 |
| | — |
| | 13,072 |
| Deferred financing costs, net | 15,224 |
| | 4,147 |
| | 538 |
| | — |
| | 19,909 |
| Accounts receivable, net | 90 |
| | 32,693 |
| | 14,499 |
| | — |
| | 47,282 |
| Intercompany notes receivable | — |
| | — |
| | 175,757 |
| | (175,757 | ) | | — |
| Investments in subsidiaries | 3,115,572 |
| | — |
| | — |
| | (3,115,572 | ) | | — |
| Other assets | 21,272 |
| | 8,817 |
| | 36,002 |
| | — |
| | 66,091 |
| Total assets | $ | 3,151,924 |
| | $ | 2,630,730 |
| | $ | 1,210,723 |
| | $ | (3,291,329 | ) | | $ | 3,702,048 |
| Liabilities and Equity | | | | | | | | | | Liabilities: | | | | | | | | | | Accounts payable and accrued liabilities | $ | 42,829 |
| | $ | 32,269 |
| | $ | 7,082 |
| | $ | — |
| | $ | 82,180 |
| Dividends payable | 22,233 |
| | — |
| | — |
| | — |
| | 22,233 |
| Unearned rents and interest | 750 |
| | 20,148 |
| | 4,725 |
| | — |
| | 25,623 |
| Intercompany notes payable | — |
| | — |
| | 175,757 |
| | (175,757 | ) | | — |
| Debt | 1,160,000 |
| | 92,508 |
| | 393,015 |
| | — |
| | 1,645,523 |
| Total liabilities | 1,225,812 |
| | 144,925 |
| | 580,579 |
| | (175,757 | ) | | 1,775,559 |
| EPR Properties shareholders’ equity | 1,926,112 |
| | 2,485,805 |
| | 629,767 |
| | (3,115,572 | ) | | 1,926,112 |
| Noncontrolling interests | — |
| | — |
| | 377 |
| | — |
| | 377 |
| Total equity | $ | 1,926,112 |
| | $ | 2,485,805 |
| | $ | 630,144 |
| | $ | (3,115,572 | ) | | $ | 1,926,489 |
| Total liabilities and equity | $ | 3,151,924 |
| | $ | 2,630,730 |
| | $ | 1,210,723 |
| | $ | (3,291,329 | ) | | $ | 3,702,048 |
|
|
Condensed Consolidating Statement Of Income |
Condensed Consolidating Statement of Income Three Months Ended June 30, 2015 | | | | | | | | | | | | | | | | | | | | | | EPR Properties (Issuer) | | Wholly Owned Subsidiary Guarantors | | Non- Guarantors Subsidiaries | | Consolidated Elimination | | Consolidated | Rental revenue | $ | — |
| | $ | 56,273 |
| | $ | 21,587 |
| | $ | — |
| | $ | 77,860 |
| Tenant reimbursements | — |
| | 1,265 |
| | 2,700 |
| | — |
| | 3,965 |
| Other income | — |
| | 1 |
| | 1,147 |
| | — |
| | 1,148 |
| Mortgage and other financing income | 212 |
| | 15,175 |
| | 2,898 |
| | — |
| | 18,285 |
| Intercompany fee income | 708 |
| | — |
| | — |
| | (708 | ) | | — |
| Interest income on intercompany notes receivable | — |
| | 2,558 |
| | — |
| | (2,558 | ) | | — |
| Total revenue | 920 |
| | 75,272 |
| | 28,332 |
| | (3,266 | ) | | 101,258 |
| Equity in subsidiaries’ earnings | 73,172 |
| | — |
| | — |
| | (73,172 | ) | | — |
| Property operating expense | — |
| | 2,759 |
| | 3,011 |
| | — |
| | 5,770 |
| Intercompany fee expense | — |
| | — |
| | 708 |
| | (708 | ) | | — |
| Other expense | — |
| | — |
| | 210 |
| | — |
| | 210 |
| General and administrative expense | — |
| | 5,612 |
| | 2,144 |
| | — |
| | 7,756 |
| Costs associated with loan refinancing or payoff | 243 |
| | — |
| | — |
| | — |
| | 243 |
| Interest expense, net | 19,824 |
| | (2,667 | ) | | 2,850 |
| | — |
| | 20,007 |
| Interest expense on intercompany notes payable | — |
| | — |
| | 2,558 |
| | (2,558 | ) | | — |
| Transaction costs | 4,238 |
| | — |
| | 191 |
| | — |
| | 4,429 |
| Depreciation and amortization | 386 |
| | 16,845 |
| | 4,618 |
| | — |
| | 21,849 |
| Income before equity in income from joint ventures and other items | 49,401 |
| | 52,723 |
| | 12,042 |
| | (73,172 | ) | | 40,994 |
| Equity in income from joint ventures | — |
| | — |
| | 198 |
| | — |
| | 198 |
| Income before income taxes | 49,401 |
| | 52,723 |
| | 12,240 |
| | (73,172 | ) | | 41,192 |
| Income tax expense (benefit) | 635 |
| | — |
| | (8,141 | ) | | — |
| | (7,506 | ) | Income from continuing operations | 48,766 |
| | 52,723 |
| | 20,381 |
| | (73,172 | ) | | 48,698 |
| Discontinued operations: | | | | | | | | | | Income from discontinued operations | — |
| | 68 |
| | — |
| | — |
| | 68 |
| Net income attributable to EPR Properties | 48,766 |
| | 52,791 |
| | 20,381 |
| | (73,172 | ) | | 48,766 |
| Preferred dividend requirements | (5,952 | ) | | — |
| | — |
| | — |
| | (5,952 | ) | Net income available to common shareholders of EPR Properties | $ | 42,814 |
| | $ | 52,791 |
| | $ | 20,381 |
| | $ | (73,172 | ) | | $ | 42,814 |
| Comprehensive income attributable to EPR Properties | $ | 48,344 |
| | $ | 52,790 |
| | $ | 19,803 |
| | $ | (72,593 | ) | | $ | 48,344 |
|
Condensed Consolidating Statement of Income Three Months Ended June 30, 2014 | | | | | | | | | | | | | | | | | | | | | | EPR Properties (Issuer) | | Wholly Owned Subsidiary Guarantors | | Non- Guarantor Subsidiaries | | Consolidated Elimination | | Consolidated | Rental revenue | $ | — |
| | $ | 47,819 |
| | $ | 22,099 |
| | $ | — |
| | $ | 69,918 |
| Tenant reimbursements | — |
| | 1,222 |
| | 3,059 |
| | — |
| | 4,281 |
| Other income | 107 |
| | — |
| | 80 |
| | — |
| | 187 |
| Mortgage and other financing income | 187 |
| | 15,900 |
| | 1,314 |
| | — |
| | 17,401 |
| Intercompany fee income | 799 |
| | — |
| | — |
| | (799 | ) | | — |
| Interest income on intercompany notes receivable | — |
| | — |
| | 6,043 |
| | (6,043 | ) | | — |
| Total revenue | 1,093 |
| | 64,941 |
| | 32,595 |
| | (6,842 | ) | | 91,787 |
| Equity in subsidiaries’ earnings | 55,831 |
| | — |
| | — |
| | (55,831 | ) | | — |
| Property operating expense | — |
| | 2,272 |
| | 3,267 |
| | — |
| | 5,539 |
| Intercompany fee expense | — |
| | — |
| | 799 |
| | (799 | ) | | — |
| Other expense | — |
| | — |
| | 219 |
| | — |
| | 219 |
| General and administrative expense | — |
| | 4,673 |
| | 2,406 |
| | — |
| | 7,079 |
| Interest expense, net | 15,746 |
| | (220 | ) | | 5,029 |
| | — |
| | 20,555 |
| Interest expense on intercompany notes payable | — |
| | — |
| | 6,043 |
| | (6,043 | ) | | — |
| Transaction costs | — |
| | — |
| | 756 |
| | — |
| | 756 |
| Depreciation and amortization | 274 |
| | 10,861 |
| | 4,867 |
| | — |
| | 16,002 |
| Income before equity in income from joint ventures and other items | 40,904 |
| | 47,355 |
| | 9,209 |
| | (55,831 | ) | | 41,637 |
| Equity in income from joint ventures | — |
| | — |
| | 267 |
| | — |
| | 267 |
| Gain on sale of investment in a direct financing lease | — |
| | 220 |
| | — |
| | — |
| | 220 |
| Income before income taxes | 40,904 |
| | 47,575 |
| | 9,476 |
| | (55,831 | ) | | 42,124 |
| Income tax expense | 144 |
| | — |
| | 1,216 |
| | — |
| | 1,360 |
| Income from continuing operations | 40,760 |
| | 47,575 |
| | 8,260 |
| | (55,831 | ) | | 40,764 |
| Discontinued operations: | | | | | | | | | | Loss from discontinued operations | — |
| | (4 | ) | | — |
| | — |
| | (4 | ) | Net income attributable to EPR Properties | 40,760 |
| | 47,571 |
| | 8,260 |
| | (55,831 | ) | | 40,760 |
| Preferred dividend requirements | (5,952 | ) | | — |
| | — |
| | — |
| | (5,952 | ) | Net income available to common shareholders of EPR Properties | $ | 34,808 |
| | $ | 47,571 |
| | $ | 8,260 |
| | $ | (55,831 | ) | | $ | 34,808 |
| Comprehensive income attributable to EPR Properties | $ | 39,856 |
| | $ | 47,571 |
| | $ | 8,341 |
| | $ | (55,912 | ) | | $ | 39,856 |
|
Condensed Consolidating Statement of Income Six Months Ended June 30, 2015 | | | | | | | | | | | | | | | | | | | | | | EPR Properties (Issuer) | | Wholly Owned Subsidiary Guarantors | | Non- Guarantors Subsidiaries | | Consolidated Elimination | | Consolidated | Rental revenue | $ | — |
| | $ | 111,017 |
| | $ | 43,583 |
| | $ | — |
| | $ | 154,600 |
| Tenant reimbursements | — |
| | 2,674 |
| | 5,594 |
| | — |
| | 8,268 |
| Other income | — |
| | 2 |
| | 1,696 |
| | — |
| | 1,698 |
| Mortgage and other financing income | 424 |
| | 30,304 |
| | 5,400 |
| | — |
| | 36,128 |
| Intercompany fee income | 1,397 |
| | — |
| | — |
| | (1,397 | ) | | — |
| Interest income on intercompany notes receivable | 111 |
| | 4,949 |
| | — |
| | (5,060 | ) | | — |
| Total revenue | 1,932 |
| | 148,946 |
| | 56,273 |
| | (6,457 | ) | | 200,694 |
| Equity in subsidiaries’ earnings | 152,312 |
| | — |
| | — |
| | (152,312 | ) | | — |
| Property operating expense | — |
| | 5,904 |
| | 6,223 |
| | — |
| | 12,127 |
| Intercompany fee expense | — |
| | — |
| | 1,397 |
| | (1,397 | ) | | — |
| Other expense | — |
| | — |
| | 312 |
| | — |
| | 312 |
| General and administrative expense | — |
| | 11,163 |
| | 4,275 |
| | — |
| | 15,438 |
| Retirement severance expense | 18,578 |
| | — |
| | — |
| | — |
| | 18,578 |
| Costs associated with loan refinancing or payoff | 243 |
| | — |
| | — |
| | — |
| | 243 |
| Interest expense, net | 36,184 |
| | (3,347 | ) | | 5,757 |
| | — |
| | 38,594 |
| Interest expense on intercompany notes payable | — |
| | — |
| | 5,060 |
| | (5,060 | ) | | — |
| Transaction costs | 5,736 |
| | — |
| | 299 |
| | — |
| | 6,035 |
| Depreciation and amortization | 778 |
| | 31,176 |
| | 9,250 |
| | — |
| | 41,204 |
| Income before equity in income from joint ventures and other items | 92,725 |
| | 104,050 |
| | 23,700 |
| | (152,312 | ) | | 68,163 |
| Equity in income from joint ventures | — |
| | — |
| | 362 |
| | — |
| | 362 |
| Gain on sale of real estate | — |
| | 23,748 |
| | 176 |
| | — |
| | 23,924 |
| Income before income taxes | 92,725 |
| | 127,798 |
| | 24,238 |
| | (152,312 | ) | | 92,449 |
| Income tax expense (benefit) | 1,138 |
| | — |
| | (218 | ) | | — |
| | 920 |
| Income from continuing operations | 91,587 |
| | 127,798 |
| | 24,456 |
| | (152,312 | ) | | 91,529 |
| Discontinued operations: | | | | | | | | | | Income from discontinued operations | — |
| | 58 |
| | — |
| | — |
| | 58 |
| Net income attributable to EPR Properties | 91,587 |
| | 127,856 |
| | 24,456 |
| | (152,312 | ) | | 91,587 |
| Preferred dividend requirements | (11,904 | ) | | — |
| | — |
| | — |
| | (11,904 | ) | Net income available to common shareholders of EPR Properties | $ | 79,683 |
| | $ | 127,856 |
| | $ | 24,456 |
| | $ | (152,312 | ) | | $ | 79,683 |
| Comprehensive income attributable to EPR Properties | $ | 87,311 |
| | $ | 127,808 |
| | $ | 21,129 |
| | $ | (148,937 | ) | | $ | 87,311 |
|
Condensed Consolidating Statement of Income Six Months Ended June 30, 2014
| | | | | | | | | | | | | | | | | | | | | | EPR Properties (Issuer) | | Wholly Owned Subsidiary Guarantors | | Non- Guarantors Subsidiaries | | Consolidated Elimination | | Consolidated | Rental revenue | $ | — |
| | $ | 94,304 |
| | $ | 42,045 |
| | $ | — |
| | $ | 136,349 |
| Tenant reimbursements | — |
| | 2,553 |
| | 6,316 |
| | — |
| | 8,869 |
| Other income | 280 |
| | 1 |
| | 80 |
| | — |
| | 361 |
| Mortgage and other financing income | 374 |
| | 33,083 |
| | 2,607 |
| | — |
| | 36,064 |
| Intercompany fee income | 1,579 |
| | — |
| | — |
| | (1,579 | ) | | — |
| Interest income on intercompany notes receivable | — |
| | — |
| | 13,106 |
| | (13,106 | ) | | — |
| Total revenue | 2,233 |
| | 129,941 |
| | 64,154 |
| | (14,685 | ) | | 181,643 |
| Equity in subsidiaries’ earnings | 114,296 |
| | — |
| | — |
| | (114,296 | ) | | — |
| Property operating expense | (1 | ) | | 5,064 |
| | 6,925 |
| | — |
| | 11,988 |
| Intercompany fee expense | — |
| | — |
| | 1,579 |
| | (1,579 | ) | | — |
| Other expense | — |
| | — |
| | 318 |
| | — |
| | 318 |
| General and administrative expense | — |
| | 9,668 |
| | 4,873 |
| | — |
| | 14,541 |
| Interest expense, net | 31,435 |
| | (192 | ) | | 9,210 |
| | — |
| | 40,453 |
| Interest expense on intercompany notes payable | — |
| | — |
| | 13,106 |
| | (13,106 | ) | | — |
| Transaction costs | — |
| | — |
| | 952 |
| | — |
| | 952 |
| Depreciation and amortization | 550 |
| | 21,633 |
| | 9,146 |
| | — |
| | 31,329 |
| Income before equity in income from joint ventures and other items | 84,545 |
| | 93,768 |
| | 18,045 |
| | (114,296 | ) | | 82,062 |
| Equity in income from joint ventures | — |
| | — |
| | 578 |
| | — |
| | 578 |
| Gain on sale of land | — |
| | — |
| | 330 |
| | — |
| | 330 |
| Gain on sale of investment in a direct financing lease | — |
| | 220 |
| | — |
| | — |
| | 220 |
| Income before income taxes | 84,545 |
| | 93,988 |
| | 18,953 |
| | (114,296 | ) | | 83,190 |
| Income tax expense | 253 |
| | — |
| | 2,032 |
| | — |
| | 2,285 |
| Income from continuing operations | 84,292 |
| | 93,988 |
| | 16,921 |
| | (114,296 | ) | | 80,905 |
| Discontinued operations: | | | | | | | | | | Income (loss) from discontinued operations | — |
| | (7 | ) | | 18 |
| | — |
| | 11 |
| Transaction costs (benefit) | — |
| | 3,376 |
| | — |
| | — |
| | 3,376 |
| Net income attributable to EPR Properties | 84,292 |
| | 97,357 |
| | 16,939 |
| | (114,296 | ) | | 84,292 |
| Preferred dividend requirements | (11,904 | ) | | — |
| | — |
| | — |
| | (11,904 | ) | Net income available to common shareholders of EPR Properties | $ | 72,388 |
| | $ | 97,357 |
| | $ | 16,939 |
| | $ | (114,296 | ) | | $ | 72,388 |
| Comprehensive income attributable to EPR Properties | $ | 81,324 |
| | $ | 97,500 |
| | $ | 14,977 |
| | $ | (112,477 | ) | | $ | 81,324 |
|
Condensed Consolidating Statement of Cash Flows Six Months Ended June 30, 2015 | | | | | | | | | | | | | | | | | | EPR Properties (Issuer) | | Wholly Owned Subsidiary Guarantors | | Non-Guarantor Subsidiaries | | Consolidated | Intercompany fee income (expense) | $ | 1,397 |
| | $ | — |
| | $ | (1,397 | ) | | $ | — |
| Interest income (expense) on intercompany receivable/payable | 111 |
| | 4,949 |
| | (5,060 | ) | | — |
| Net cash provided (used) by other operating activities | (52,121 | ) | | 139,850 |
| | 32,152 |
| | 119,881 |
| Net cash provided (used) by operating activities of continuing operations | (50,613 | ) | | 144,799 |
| | 25,695 |
| | 119,881 |
| Net cash provided by operating activities of discontinued operations | — |
| | 526 |
| | — |
| | 526 |
| Net cash provided (used) by operating activities | (50,613 | ) | | 145,325 |
| | 25,695 |
| | 120,407 |
| Investing activities: | | | | | | |
| Acquisition of rental properties and other assets | (280 | ) | | (92,932 | ) | | (9 | ) | | (93,221 | ) | Proceeds from sale of real estate | — |
| | 42,709 |
| | 1,081 |
| | 43,790 |
| Investment in mortgage notes receivable | — |
| | (5,541 | ) | | (30,048 | ) | | (35,589 | ) | Proceeds from mortgage note receivable paydown | — |
| | 308 |
| | — |
| | 308 |
| Proceeds from sale of investments in a direct financing lease, net | — |
| | 4,741 |
| | — |
| | 4,741 |
| Additions to property under development | (4 | ) | | (198,044 | ) | | (8,907 | ) | | (206,955 | ) | Advances to subsidiaries, net | (216,606 | ) | | 195,962 |
| | 20,644 |
| | — |
| Net cash used by investing activities | (216,890 | ) | | (52,797 | ) | | (17,239 | ) | | (286,926 | ) | Financing activities: | | | | | | | | Proceeds from long-term debt facilities | 403,914 |
| | 155,000 |
| | — |
| | 558,914 |
| Principal payments on long-term debt | (5,000 | ) | | (247,508 | ) | | (7,151 | ) | | (259,659 | ) | Deferred financing fees paid | (6,848 | ) | | (6 | ) | | — |
| | (6,854 | ) | Net proceeds from issuance of common shares | 240 |
| | — |
| | — |
| | 240 |
| Impact of stock option exercises, net | (35 | ) | | — |
| | — |
| | (35 | ) | Purchase of common shares for treasury | (8,223 | ) | | — |
| | — |
| | (8,223 | ) | Dividends paid to shareholders | (114,600 | ) | | — |
| | — |
| | (114,600 | ) | Net cash provided (used) by financing activities | 269,448 |
| | (92,514 | ) | | (7,151 | ) | | 169,783 |
| Effect of exchange rate changes on cash | — |
| | (17 | ) | | (437 | ) | | (454 | ) | Net increase (decrease) in cash and cash equivalents | 1,945 |
| | (3 | ) | | 868 |
| | 2,810 |
| Cash and cash equivalents at beginning of the period | (1,234 | ) | | 840 |
| | 3,730 |
| | 3,336 |
| Cash and cash equivalents at end of the period | $ | 711 |
| | $ | 837 |
| | $ | 4,598 |
| | $ | 6,146 |
|
|
Condensed Consolidating Statement Of Cash Flows |
Condensed Consolidating Statement of Cash Flows Six Months Ended June 30, 2015 | | | | | | | | | | | | | | | | | | EPR Properties (Issuer) | | Wholly Owned Subsidiary Guarantors | | Non-Guarantor Subsidiaries | | Consolidated | Intercompany fee income (expense) | $ | 1,397 |
| | $ | — |
| | $ | (1,397 | ) | | $ | — |
| Interest income (expense) on intercompany receivable/payable | 111 |
| | 4,949 |
| | (5,060 | ) | | — |
| Net cash provided (used) by other operating activities | (52,121 | ) | | 139,850 |
| | 32,152 |
| | 119,881 |
| Net cash provided (used) by operating activities of continuing operations | (50,613 | ) | | 144,799 |
| | 25,695 |
| | 119,881 |
| Net cash provided by operating activities of discontinued operations | — |
| | 526 |
| | — |
| | 526 |
| Net cash provided (used) by operating activities | (50,613 | ) | | 145,325 |
| | 25,695 |
| | 120,407 |
| Investing activities: | | | | | | |
| Acquisition of rental properties and other assets | (280 | ) | | (92,932 | ) | | (9 | ) | | (93,221 | ) | Proceeds from sale of real estate | — |
| | 42,709 |
| | 1,081 |
| | 43,790 |
| Investment in mortgage notes receivable | — |
| | (5,541 | ) | | (30,048 | ) | | (35,589 | ) | Proceeds from mortgage note receivable paydown | — |
| | 308 |
| | — |
| | 308 |
| Proceeds from sale of investments in a direct financing lease, net | — |
| | 4,741 |
| | — |
| | 4,741 |
| Additions to property under development | (4 | ) | | (198,044 | ) | | (8,907 | ) | | (206,955 | ) | Advances to subsidiaries, net | (216,606 | ) | | 195,962 |
| | 20,644 |
| | — |
| Net cash used by investing activities | (216,890 | ) | | (52,797 | ) | | (17,239 | ) | | (286,926 | ) | Financing activities: | | | | | | | | Proceeds from long-term debt facilities | 403,914 |
| | 155,000 |
| | — |
| | 558,914 |
| Principal payments on long-term debt | (5,000 | ) | | (247,508 | ) | | (7,151 | ) | | (259,659 | ) | Deferred financing fees paid | (6,848 | ) | | (6 | ) | | — |
| | (6,854 | ) | Net proceeds from issuance of common shares | 240 |
| | — |
| | — |
| | 240 |
| Impact of stock option exercises, net | (35 | ) | | — |
| | — |
| | (35 | ) | Purchase of common shares for treasury | (8,223 | ) | | — |
| | — |
| | (8,223 | ) | Dividends paid to shareholders | (114,600 | ) | | — |
| | — |
| | (114,600 | ) | Net cash provided (used) by financing activities | 269,448 |
| | (92,514 | ) | | (7,151 | ) | | 169,783 |
| Effect of exchange rate changes on cash | — |
| | (17 | ) | | (437 | ) | | (454 | ) | Net increase (decrease) in cash and cash equivalents | 1,945 |
| | (3 | ) | | 868 |
| | 2,810 |
| Cash and cash equivalents at beginning of the period | (1,234 | ) | | 840 |
| | 3,730 |
| | 3,336 |
| Cash and cash equivalents at end of the period | $ | 711 |
| | $ | 837 |
| | $ | 4,598 |
| | $ | 6,146 |
|
Condensed Consolidating Statement of Cash Flows Six Months Ended June 30, 2014 | | | | | | | | | | | | | | | | | | EPR Properties (Issuer) | | Wholly Owned Subsidiary Guarantors | | Non-Guarantor Subsidiaries | | Consolidated | Intercompany fee income (expense) | $ | 1,579 |
| | $ | — |
| | $ | (1,579 | ) | | $ | — |
| Interest income (expense) on intercompany receivable/payable | — |
| | — |
| | — |
| | — |
| Net cash provided (used) by other operating activities | (32,070 | ) | | 113,250 |
| | 33,054 |
| | 114,234 |
| Net cash provided (used) by operating activities of continuing operations | (30,491 | ) | | 113,250 |
| | 31,475 |
| | 114,234 |
| Net cash provided by operating activities of discontinued operations | — |
| | 52 |
| | 68 |
| | 120 |
| Net cash provided (used) by operating activities | (30,491 | ) | | 113,302 |
| | 31,543 |
| | 114,354 |
| Investing activities: | | | | | | |
| Acquisition of rental properties and other assets | (130 | ) | | (18,312 | ) | | (25,898 | ) | | (44,340 | ) | Proceeds from sale of real estate | — |
| | — |
| | 3,293 |
| | 3,293 |
| Proceeds from settlement of derivative | — |
| | — |
| | 5,725 |
| | 5,725 |
| Investment in mortgage note receivable | — |
| | (9,631 | ) | | (12,662 | ) | | (22,293 | ) | Proceeds from mortgage note receivable paydown | — |
| | 176 |
| | — |
| | 176 |
| Investment in promissory notes receivable | — |
| | (721 | ) | | (3,236 | ) | | (3,957 | ) | Proceeds from sale of investments in a direct financing lease, net | — |
| | 46,092 |
| | — |
| | 46,092 |
| Additions to property under development | (314 | ) | | (146,734 | ) | | (4,295 | ) | | (151,343 | ) | Advances to subsidiaries, net | 49,798 |
| | (63,604 | ) | | 13,806 |
| | — |
| Net cash provided (used) by investing activities | 49,354 |
| | (192,734 | ) | | (23,267 | ) | | (166,647 | ) | Financing activities: | | | | | | | | Proceeds from long-term debt facilities | 10,000 |
| | 116,000 |
| | — |
| | 126,000 |
| Principal payments on long-term debt | — |
| | (37,360 | ) | | (5,616 | ) | | (42,976 | ) | Deferred financing fees paid | (169 | ) | | (266 | ) | | (199 | ) | | (634 | ) | Net proceeds from issuance of common shares | 79,669 |
| | — |
| | — |
| | 79,669 |
| Impact of stock option exercises, net | (24 | ) | | — |
| | — |
| | (24 | ) | Purchase of common shares for treasury | (2,892 | ) | | — |
| | — |
| | (2,892 | ) | Dividends paid to shareholders | (101,249 | ) | | — |
| | — |
| | (101,249 | ) | Net cash provided (used) by financing activities | (14,665 | ) | | 78,374 |
| | (5,815 | ) | | 57,894 |
| Effect of exchange rate changes on cash | — |
| | 40 |
| | (10 | ) | | 30 |
| Net increase (decrease) in cash and cash equivalents | 4,198 |
| | (1,018 | ) | | 2,451 |
| | 5,631 |
| Cash and cash equivalents at beginning of the period | 449 |
| | 1,886 |
| | 5,623 |
| | 7,958 |
| Cash and cash equivalents at end of the period | $ | 4,647 |
| | $ | 868 |
| | $ | 8,074 |
| | $ | 13,589 |
|
|