Segment Information

6 Months Ended

Jun. 30, 2019

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



Balance Sheet Data:
	As of June 30, 2019
	Entertainment		Recreation		Education		Other		Corporate/Unallocated		Consolidated
Total Assets	$	2,838,006	$	2,361,764	$	1,322,527	$	198,239	$	26,119	$	6,746,655

	As of December 31, 2018
	Entertainment		Recreation		Education		Other		Corporate/Unallocated		Consolidated
Total Assets	$	2,344,855	$	2,187,808	$	1,366,278	$	207,724	$	24,725	$	6,131,390



Operating Data:
	Three Months Ended June 30, 2019
	Entertainment		Recreation		Education		Other		Corporate/Unallocated		Consolidated
Rental revenue	$	83,718	$	42,886	$	28,059	$	2,667	$	—	$	157,330
Other income	1,575		3,848		—		—		303		5,726
Mortgage and other financing income	107		8,654		3,881		—		—		12,642
Total revenue	85,400		55,388		31,940		2,667		303		175,698

Property operating expense	9,871		2,729		1,056		888		227		14,771
Other expense	1,029		7,062		—		—		—		8,091
Total investment expenses	10,900		9,791		1,056		888		227		22,862
Net operating income - before unallocated items	74,500		45,597		30,884		1,779		76		152,836

Reconciliation to Consolidated Statements of Income:
General and administrative expense											(12,230		)
Interest expense, net											(36,278		)
Transaction costs											(6,923		)
Depreciation and amortization											(42,355		)
Equity in income from joint ventures											470
Gain on sale of real estate											9,774
Income tax benefit											1,300
Net income											66,594
Preferred dividend requirements											(6,034		)
Net income available to common shareholders of EPR Properties											$	60,560



Operating Data:
	Three Months Ended June 30, 2018
	Entertainment		Recreation		Education		Other		Corporate/Unallocated		Consolidated
Rental revenue	$	74,640	$	34,443	$	25,649	$	2,287	$	—	$	137,019
Other income	4		—		—		—		642		646
Mortgage and other financing income	2,100		57,540		5,562		—		—		65,202
Total revenue	76,744		91,983		31,211		2,287		642		202,867

Property operating expense	5,816		24		644		689		161		7,334
Total investment expenses	5,816		24		644		689		161		7,334
Net operating income - before unallocated items	70,928		91,959		30,567		1,598		481		195,533

Reconciliation to Consolidated Statements of Income:
General and administrative expense											(12,976		)
Litigation settlement expense											(2,090		)
Costs associated with loan refinancing or payoff											(15		)
Interest expense, net											(34,079		)
Transaction costs											(405		)
Impairment charges											(16,548		)
Depreciation and amortization											(37,582		)
Equity in loss from joint ventures											(88		)
Gain on sale of real estate											473
Income tax expense											(642		)
Net income											91,581
Preferred dividend requirements											(6,036		)
Net income available to common shareholders of EPR Properties											$	85,545



Operating Data:
	Six Months Ended June 30, 2019
	Entertainment		Recreation		Education		Other		Corporate/Unallocated		Consolidated
Rental revenue	$	164,231	$	83,415	$	54,766	$	5,641	$	—	$	308,053
Other income	1,585		3,909		—		—		576		6,070
Mortgage and other financing income	163		17,966		7,988		—		—		26,117
Total revenue	165,979		105,290		62,754		5,641		576		340,240

Property operating expense	20,496		5,463		2,168		1,977		460		30,564
Other expense	1,029		7,062		—		—		—		8,091
Total investment expenses	21,525		12,525		2,168		1,977		460		38,655
Net operating income - before unallocated items	144,454		92,765		60,586		3,664		116		301,585

Reconciliation to Consolidated Statements of Income:
General and administrative expense											(24,360		)
Interest expense, net											(70,104		)
Transaction costs											(12,046		)
Depreciation and amortization											(82,098		)
Equity in income from joint ventures											959
Gain on sale of real estate											16,102
Income tax benefit											1,905
Net income											131,943
Preferred dividend requirements											(12,068		)
Net income available to common shareholders of EPR Properties											$	119,875



Operating Data:
	Six Months Ended June 30, 2018
	Entertainment		Recreation		Education		Other		Corporate/Unallocated		Consolidated
Rental revenue	$	149,488	$	67,875	$	48,034	$	4,546	$	—	$	269,943
Other income	4		62		—		—		1,210		1,276
Mortgage and other financing income	2,902		71,245		12,469		—		—		86,616
Total revenue	152,394		139,182		60,503		4,546		1,210		357,835

Property operating expense	12,045		57		1,473		1,003		320		14,898
Total investment expenses	12,045		57		1,473		1,003		320		14,898
Net operating income - before unallocated items	140,349		139,125		59,030		3,543		890		342,937

Reconciliation to Consolidated Statements of Income:
General and administrative expense											(25,300		)
Litigation settlement expense											(2,090		)
Costs associated with loan refinancing or payoff											(31,958		)
Interest expense, net											(68,416		)
Transaction costs											(1,014		)
Impairment charges											(16,548		)
Depreciation and amortization											(75,266		)
Equity in loss from joint ventures											(37		)
Gain on sale of real estate											473
Income tax expense											(1,662		)
Net income											121,119
Preferred dividend requirements											(12,072		)
Net income available to common shareholders of EPR Properties											$	109,047