Condensed Consolidating Financial Statements (Tables)

12 Months Ended

Dec. 31, 2016

Condensed Consolidating Financial Statements [Abstract]

Condensed Consolidating Balance Sheet

Condensed Consolidating Balance Sheet As of December 31, 2016
	EPR Properties  (Issuer)		Wholly  Owned Subsidiary Guarantors		Non- Guarantor Subsidiaries		Consolidated Elimination			Consolidated
Assets
Rental properties, net	$	—	$	3,164,622	$	431,140	$	—		$	3,595,762
Land held for development	—		1,258		21,272		—			22,530
Property under development	1,010		247,239		48,861		—			297,110
Mortgage notes and related accrued interest receivable, net	—		612,141		1,837		—			613,978
Investment in a direct financing lease, net	—		102,698		—		—			102,698
Investment in joint ventures	—		—		5,972		—			5,972
Cash and cash equivalents	16,586		1,157		1,592		—			19,335
Restricted cash	365		8,352		1,027		—			9,744
Accounts receivable, net	556		89,145		9,238		—			98,939
Intercompany notes receivable	—		179,589		—		(179,589		)	—
Investments in subsidiaries	4,521,095		—		—		(4,521,095		)	—
Other assets	21,768		23,068		54,118		—			98,954
Total assets	$	4,561,380	$	4,429,269	$	575,057	$	(4,700,684	)	$	4,865,022
Liabilities and Equity
Liabilities:
Accounts payable and accrued liabilities	$	63,431	$	52,061	$	4,266	$	—		$	119,758
Dividends payable	26,318		—		—		—			26,318
Unearned rents and interest	—		46,647		773		—			47,420
Intercompany notes payable	—		—		179,589		(179,589		)	—
Debt	2,285,730		—		199,895		—			2,485,625
Total liabilities	2,375,479		98,708		384,523		(179,589		)	2,679,121
Equity	2,185,901		4,330,561		190,534		(4,521,095		)	2,185,901
Total liabilities and equity	$	4,561,380	$	4,429,269	$	575,057	$	(4,700,684	)	$	4,865,022

Condensed Consolidating Balance Sheet As of December 31, 2015
	EPR Properties  (Issuer)		Wholly  Owned Subsidiary Guarantors		Non- Guarantor Subsidiaries		Consolidated Elimination			Consolidated
Assets
Rental properties, net	$	—	$	2,590,158	$	435,041	$	—		$	3,025,199
Land held for development	—		1,258		22,352		—			23,610
Property under development	—		324,360		54,560		—			378,920
Mortgage notes and related accrued interest receivable, net	—		400,935		22,845		—			423,780
Investment in a direct financing lease, net	—		190,880		—		—			190,880
Investment in joint ventures	—		—		6,168		—			6,168
Cash and cash equivalents	1,089		1,289		1,905		—			4,283
Restricted cash	475		9,059		1,044		—			10,578
Accounts receivable, net	285		49,237		9,579		—			59,101
Intercompany notes receivable	—		177,526		—		(177,526		)	—
Investments in subsidiaries	3,825,897		—		—		(3,825,897		)	—
Other assets	23,053		10,589		61,109		—			94,751
Total assets	$	3,850,799	$	3,755,291	$	614,603	$	(4,003,423	)	$	4,217,270
Liabilities and Equity
Liabilities:
Accounts payable and accrued liabilities	$	49,671	$	39,228	$	3,279	$	—		$	92,178
Dividends payable	24,352		—		—		—			24,352
Unearned rents and interest	—		44,012		940		—			44,952
Intercompany notes payable	—		—		177,526		(177,526		)	—
Debt	1,702,908		63,682		215,330		—			1,981,920
Total liabilities	1,776,931		146,922		397,075		(177,526		)	2,143,402
Equity	$	2,073,868	$	3,608,369	$	217,528	$	(3,825,897	)	$	2,073,868
Total liabilities and equity	$	3,850,799	$	3,755,291	$	614,603	$	(4,003,423	)	$	4,217,270

Condensed Consolidating Statement Of Income

Condensed Consolidating Statement of Income For the Year Ended December 31, 2016
	EPR Properties  (Issuer)			Wholly  Owned Subsidiary Guarantors			Non- Guarantors Subsidiaries		Consolidated Elimination			Consolidated
Rental revenue	$	—		$	345,945		$	53,644	$	—		$	399,589
Tenant reimbursements	—			5,455			10,140		—			15,595
Other income	—			6,168			2,871		—			9,039
Mortgage and other financing income	942			64,231			3,846		—			69,019
Intercompany fee income	2,684			—			—		(2,684		)	—
Interest income on intercompany notes receivable	—			9,700			—		(9,700		)	—
Total revenue	3,626			431,499			70,501		(12,384		)	493,242
Equity in subsidiaries’ earnings	328,328			—			—		(328,328		)	—
Property operating expense	—			10,905			11,697		—			22,602
Intercompany fee expense	—			—			2,684		(2,684		)	—
Other expense	—			—			5		—			5
General and administrative expense	—			32,250			5,293		—			37,543
Costs associated with loan refinancing or payoff	—			353			552		—			905
Interest expense, net	96,239			(8,189		)	9,094		—			97,144
Interest expense on intercompany notes payable	—			—			9,700		(9,700		)	—
Transaction costs	7,766			—			103		—			7,869
Depreciation and amortization	1,504			92,310			13,759		—			107,573
Income before equity in income from joint ventures and other items	226,445			303,870			17,614		(328,328		)	219,601
Equity in income from joint ventures	—			—			619		—			619
Gain on sale of real estate	—			5,315			—		—			5,315
Income before income taxes	226,445			309,185			18,233		(328,328		)	225,535
Income tax benefit (expense)	(1,463		)	—			910		—			(553		)
Net income attributable to EPR Properties	224,982			309,185			19,143		(328,328		)	224,982
Preferred dividend requirements	(23,806		)	—			—		—			(23,806		)
Net income available to common shareholders of EPR Properties	$	201,176		$	309,185		$	19,143	$	(328,328	)	$	201,176
Comprehensive income attributable to EPR Properties	$	227,094		$	309,185		$	18,063	$	(327,248	)	$	227,094

Condensed Consolidating Statement of Income For the Year Ended December 31, 2015
	EPR Properties  (Issuer)			Wholly  Owned Subsidiary Guarantors			Non- Guarantor Subsidiaries		Consolidated Elimination			Consolidated
Rental revenue	$	—		$	275,105		$	55,781	$	—		$	330,886
Tenant reimbursements	—			5,243			11,077		—			16,320
Other income	—			3			3,626		—			3,629
Mortgage and other financing income	848			61,900			7,434		—			70,182
Intercompany fee income	2,717			—			—		(2,717		)	—
Interest income on intercompany notes receivable	111			9,787			—		(9,898		)	—
Total revenue	3,676			352,038			77,918		(12,615		)	421,017
Equity in subsidiaries’ earnings	298,657			—			—		(298,657		)	—
Property operating expense	—			11,280			12,153		—			23,433
Intercompany fee expense	—			—			2,717		(2,717		)	—
Other expense	—			—			648		—			648
General and administrative expense	—			25,315			5,706		—			31,021
Retirement severance expense	18,578			—			—		—			18,578
Costs associated with loan refinancing or payoff	243			27			—		—			270
Interest expense, net	78,217			(8,115		)	9,813		—			79,915
Interest expense on intercompany notes payable	—			—			9,898		(9,898		)	—
Transaction costs	7,182			—			336		—			7,518
Depreciation and amortization	1,629			74,430			13,558		—			89,617
Income before equity in income from joint ventures and other items	196,484			249,101			23,089		(298,657		)	170,017
Equity in income from joint ventures	—			—			969		—			969
Gain on sale of real estate	—			23,653			176		—			23,829
Income before income taxes	196,484			272,754			24,234		(298,657		)	194,815
Income tax benefit (expense)	(1,952		)	—			1,470		—			(482		)
Income from continuing operations	194,532			272,754			25,704		(298,657		)	194,333
Discontinued operations:
Income from discontinued operations	—			199			—		—			199
Net income attributable to EPR Properties	194,532			272,953			25,704		(298,657		)	194,532
Preferred dividend requirements	(23,806		)	—			—		—			(23,806		)
Net income available to common shareholders of EPR Properties	$	170,726		$	272,953		$	25,704	$	(298,657	)	$	170,726
Comprehensive income attributable to EPR Properties	$	187,588		$	272,730		$	19,559	$	(292,289	)	$	187,588

Condensed Consolidating Statement of Income For the Year Ended December 31, 2014
	EPR Properties  (Issuer)			Wholly  Owned Subsidiary Guarantors		Non- Guarantor Subsidiaries			Consolidated Elimination			Consolidated
Rental revenue	$	—		$	228,847	$	57,826		$	—		$	286,673
Tenant reimbursements	—			5,103		12,560			—			17,663
Other income	—			1		1,008			—			1,009
Mortgage and other financing income	765			71,535		7,406			—			79,706
Intercompany fee income	3,124			—		—			(3,124		)	—
Interest income on intercompany notes receivable	—			—		23,509			(23,509		)	—
Total revenue	3,889			305,486		102,309			(26,633		)	385,051
Equity in subsidiaries’ earnings	241,921			—		—			(241,921		)	—
Property operating expense	—			11,422		13,475			—			24,897
Intercompany fee expense	—			—		3,124			(3,124		)	—
Other expense	—			—		771			—			771
General and administrative expense	—			20,545		7,021			—			27,566
Costs associated with loan refinancing or payoff	—			285		16			—			301
Interest expense, net	63,056			9,132		9,082			—			81,270
Interest expense on intercompany notes payable	—			—		23,509			(23,509		)	—
Transaction costs	1,319			54		1,079			—			2,452
Provision for loan losses	—			—		3,777			—			3,777
Depreciation and amortization	1,224			51,271		14,244			—			66,739
Income before equity in income from joint ventures and other items	180,211			212,777		26,211			(241,921		)	177,278
Equity in income from joint ventures	—			—		1,273			—			1,273
Gain on sale of real estate	—			—		1,209			—			1,209
Gain on sale of investment in a direct financing lease	—			220		—			—			220
Income before income taxes	$	180,211		$	212,997	$	28,693		$	(241,921	)	$	179,980
Income tax expense	(578		)	—		(3,650		)	—			(4,228		)
Income from continuing operations	179,633			212,997		25,043			(241,921		)	175,752
Discontinued operations:
Income from discontinued operations	—			487		18			—			505
Transaction (costs) benefit	—			3,376		—			—			3,376
Net income attributable to EPR Properties	179,633			216,860		25,061			(241,921		)	179,633
Preferred dividend requirements	(23,807		)	—		—			—			(23,807		)
Net income available to common shareholders of EPR Properties	$	155,826		$	216,860	$	25,061		$	(241,921	)	$	155,826
Comprehensive income attributable to EPR Properties	$	175,006		$	217,000	$	20,919		$	(237,919	)	$	175,006

Condensed Consolidating Statement Of Cash Flows

Condensed Consolidating Statement of Cash Flows For the Year Ended December 31, 2016
	EPR Properties  (Issuer)			Wholly  Owned Subsidiary Guarantors			Non-Guarantor Subsidiaries			Consolidated
Intercompany fee income (expense)	$	2,684		$	—		$	(2,684	)	$	—
Interest income (expense) on intercompany receivable/payable	—			9,700			(9,700		)	—
Net cash (used) provided by other operating activities	(79,945		)	338,267			47,880			306,202
Net cash (used) provided by operating activities	(77,261		)	347,967			35,496			306,202
Investing activities:
Acquisition of and investments in rental properties and other assets	(357		)	(216,245		)	(2,567		)	(219,169		)
Proceeds from sale of real estate	—			22,383			1,477			23,860
Investment in mortgage notes receivable	—			(190,922		)	(1,617		)	(192,539		)
Proceeds from mortgage note receivable paydown	—			50,252			21,820			72,072
Investment in promissory notes receivable	—			(1,546		)	—			(1,546		)
Proceeds from sale of infrastructure related to issuance of revenue bonds	—			43,462			—			43,462
Proceeds from insurance recovery	—			4,209			401			4,610
Proceeds from sale of investment in a direct financing lease, net	—			20,951			—			20,951
Additions to property under development	(1,010		)	(399,452		)	(13,386		)	(413,848		)
Investment in intercompany notes payable	—			(2,063		)	2,063			—
Advances to subsidiaries, net	(356,784		)	384,599			(27,815		)	—
Net cash used by investing activities	(358,151		)	(284,372		)	(19,624		)	(662,147		)
Financing activities:
Proceeds from long-term debt facilities and senior unsecured notes	1,380,000			—			—			1,380,000
Principal payments on debt	(786,000		)	(63,727		)	(15,539		)	(865,266		)
Deferred financing fees paid	(14,358		)	—			(27		)	(14,385		)
Costs associated with loan refinancing or payoff (cash portion)	—			—			(482		)	(482		)
Net proceeds from issuance of common shares	142,628			—			—			142,628
Impact of stock option exercises, net	(1,488		)	—			—			(1,488		)
Purchase of common shares for treasury for vesting	(4,211		)	—			—			(4,211		)
Dividends paid to shareholders	(265,662		)	—			—			(265,662		)
Net cash provided (used) by financing activities	450,909			(63,727		)	(16,048		)	371,134
Effect of exchange rate changes on cash	—			—			(137		)	(137		)
Net increase (decrease) in cash and cash equivalents	15,497			(132		)	(313		)	15,052
Cash and cash equivalents at beginning of the period	1,089			1,289			1,905			4,283
Cash and cash equivalents at end of the period	$	16,586		$	1,157		$	1,592		$	19,335

Condensed Consolidating Statement of Cash Flows For the Year Ended December 31, 2015
	EPR Properties  (Issuer)			Wholly  Owned Subsidiary Guarantors			Non-Guarantor Subsidiaries			Consolidated
Intercompany fee income (expense)	$	2,717		$	—		$	(2,717	)	$	—
Interest income (expense) on intercompany receivable/payable	111			9,787			(9,898		)	—
Net cash (used) provided by other operating activities	(91,731		)	324,760			44,923			277,952
Net cash (used) provided by operating activities of continuing operations	(88,903		)	334,547			32,308			277,952
Net cash provided by operating activities of discontinued operations	—			508			—			508
Net cash (used) provided by operating activities	(88,903		)	335,055			32,308			278,460
Investing activities:
Acquisition of rental properties and other assets	(618		)	(178,964		)	(238		)	(179,820		)
Proceeds from sale of real estate	—			45,637			1,081			46,718
Investment in mortgage note receivable	—			(27,835		)	(44,863		)	(72,698		)
Proceeds from mortgage note receivable paydown	—			38,456			2,500			40,956
Proceeds from sale of investment in a direct financing lease, net	—			4,741			—			4,741
Additions to property under development	(112		)	(404,289		)	(4,035		)	(408,436		)
Investment in intercompany notes payable	—			(1,769		)	1,769			—
Advances to subsidiaries, net	(406,389		)	386,222			20,167			—
Net cash used in investing activities	(407,119		)	(137,801		)	(23,619		)	(568,539		)
Financing activities:
Proceeds from debt facilities	701,914			155,000			—			856,914
Principal payments on debt	(142,000		)	(353,024		)	(8,290		)	(503,314		)
Deferred financing fees paid	(7,038		)	(9		)	—			(7,047		)
Net proceeds from issuance of common shares	190,158			—			—			190,158
Impact of stock option exercises, net	(3,394		)	—			—			(3,394		)
Purchase of common shares for treasury	(8,222		)	—			—			(8,222		)
Dividends paid to shareholders	(233,073		)	—			—			(233,073		)
Net cash provided (used) by financing activities	498,345			(198,033		)	(8,290		)	292,022
Effect of exchange rate changes on cash	—			(6		)	(990		)	(996		)
Net increase (decrease) in cash and cash equivalents	2,323			(785		)	(591		)	947
Cash and cash equivalents at beginning of the period	(1,234		)	2,074			2,496			3,336
Cash and cash equivalents at end of the period	$	1,089		$	1,289		$	1,905		$	4,283

Condensed Consolidating Statement of Cash Flows For the Year Ended December 31, 2014
	EPR Properties  (Issuer)			Wholly  Owned Subsidiary Guarantors			Non-Guarantor Subsidiaries			Consolidated
Intercompany fee income (expense)	$	3,124		$	—		$	(3,124	)	$	—
Interest income (expense) on intercompany receivable/payable	—			—			—			—
Net cash (used) provided by other operating activities	(60,684		)	262,860			47,976			250,152
Net cash (used) provided by operating activities of continuing operations	(57,560		)	262,860			44,852			250,152
Net cash provided by operating activities of discontinued operations	—			47			96			143
Net cash (used) provided by operating activities	(57,560		)	262,907			44,948			250,295
Investing activities:
Acquisition of rental properties and other assets	(438		)	(58,918		)	(25,849		)	(85,205		)
Proceeds from sale of real estate	—			—			12,055			12,055
Proceeds from settlement of derivative	—			—			5,725			5,725
Investment in mortgage notes receivable	—			(26,716		)	(67,161		)	(93,877		)
Proceeds from mortgage note receivable paydown	—			52,834			23,422			76,256
Investment in promissory notes receivable	—			(721		)	(3,666		)	(4,387		)
Proceeds from promissory note receivable paydown	—			—			1,750			1,750
Proceeds from sale of investment in a direct financing lease, net	—			46,092			—			46,092
Additions to property under development	(821		)	(325,624		)	(8,190		)	(334,635		)
Advances to subsidiaries, net	(16,206		)	(7,078		)	23,284			—
Net cash used by investing activities	(17,465		)	(320,131		)	(38,630		)	(376,226		)
Financing activities:
Proceeds from debt facilities	20,000			359,000			—			379,000
Principal payments on debt	—			(303,544		)	(6,709		)	(310,253		)
Deferred financing fees paid	(337		)	(279		)	(198		)	(814		)
Costs associated with loan refinancing or payoff (cash portion)	—			(25		)	—			(25		)
Net proceeds from issuance of common shares	264,158			—			—			264,158
Impact of stock option exercises, net	50			—			—			50
Purchase of common shares for treasury	(2,892		)	—			—			(2,892		)
Dividends paid to shareholders	(207,637		)	—			—			(207,637		)
Net cash provided (used) by financing activities	73,342			55,152			(6,907		)	121,587
Effect of exchange rate changes on cash	—			39			(317		)	(278		)
Net decrease in cash and cash equivalents	(1,683		)	(2,033		)	(906		)	(4,622		)
Cash and cash equivalents at beginning of the period	449			4,107			3,402			7,958
Cash and cash equivalents at end of the period	$	(1,234	)	$	2,074		$	2,496		$	3,336