Segment Information

9 Months Ended

Sep. 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 September 30, 2019
	Entertainment		Recreation		Education		Other		Corporate/Unallocated		Consolidated
Total Assets	$	2,829,477	$	2,233,445	$	1,243,761	$	195,217	$	131,390	$	6,633,290

	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 September 30, 2019
	Entertainment		Recreation		Education		Other		Corporate/Unallocated		Consolidated
Rental revenue	$	87,720	$	42,784	$	27,643	$	3,115	$	—	$	161,262
Other income	1,202		9,988		—		—		274		11,464
Mortgage and other financing income	382		6,238		5,516		—		—		12,136
Total revenue	89,304		59,010		33,159		3,115		274		184,862

Property operating expense	9,497		2,843		1,107		997		219		14,663
Other expense	864		10,539		—		—		—		11,403
Total investment expenses	10,361		13,382		1,107		997		219		26,066
Net operating income - before unallocated items	78,943		45,628		32,052		2,118		55		158,796

Reconciliation to Consolidated Statements of Income:
General and administrative expense											(11,600		)
Severance expense											(1,521		)
Costs associated with loan refinancing or payoff											(38,407		)
Interest expense, net											(36,640		)
Transaction costs											(5,959		)
Depreciation and amortization											(45,134		)
Equity in loss from joint ventures											(435		)
Gain on sale of real estate											14,303
Income tax benefit											600
Net income											34,003
Preferred dividend requirements											(6,034		)
Net income available to common shareholders of EPR Properties											$	27,969



Operating Data:
	Three Months Ended September 30, 2018
	Entertainment		Recreation		Education		Other		Corporate/Unallocated		Consolidated
Rental revenue	$	75,552	$	36,215	$	26,851	$	2,287	$	—	$	140,905
Other income	143		—		—		—		222		365
Mortgage and other financing income	612		29,678		4,849		—		—		35,139
Total revenue	76,307		65,893		31,700		2,287		222		176,409

Property operating expense	5,917		34		407		449		161		6,968
Other expense	—		118		—		—		—		118
Total investment expenses	5,917		152		407		449		161		7,086
Net operating income - before unallocated items	70,390		65,741		31,293		1,838		61		169,323

Reconciliation to Consolidated Statements of Income:
General and administrative expense											(11,424		)
Interest expense, net											(33,576		)
Transaction costs											(1,101		)
Depreciation and amortization											(38,623		)
Equity in income from joint ventures											20
Gain on sale of real estate											2,215
Gain on sale of investment in direct financing leases											5,514
Income tax expense											(515		)
Net income											91,833
Preferred dividend requirements											(6,036		)
Net income available to common shareholders of EPR Properties											$	85,797



Operating Data:
	Nine Months Ended September 30, 2019
	Entertainment		Recreation		Education		Other		Corporate/Unallocated		Consolidated
Rental revenue	$	251,951	$	126,199	$	82,409	$	8,756	$	—	$	469,315
Other income	2,787		13,897		—		—		850		17,534
Mortgage and other financing income	545		24,204		13,504		—		—		38,253
Total revenue	255,283		164,300		95,913		8,756		850		525,102

Property operating expense	29,993		8,306		3,275		2,974		679		45,227
Other expense	1,893		17,601		—		—		—		19,494
Total investment expenses	31,886		25,907		3,275		2,974		679		64,721
Net operating income - before unallocated items	223,397		138,393		92,638		5,782		171		460,381

Reconciliation to Consolidated Statements of Income:
General and administrative expense											(35,540		)
Severance expense											(1,941		)
Costs associated with loan refinancing or payoff											(38,407		)
Interest expense, net											(106,744		)
Transaction costs											(18,005		)
Depreciation and amortization											(127,232		)
Equity in income from joint ventures											524
Gain on sale of real estate											30,405
Income tax benefit											2,505
Net income											165,946
Preferred dividend requirements											(18,102		)
Net income available to common shareholders of EPR Properties											$	147,844



Operating Data:
	Nine Months Ended September 30, 2018
	Entertainment		Recreation		Education		Other		Corporate/Unallocated		Consolidated
Rental revenue	$	225,040	$	104,090	$	74,885	$	6,833	$	—	$	410,848
Other income	147		62		—		—		1,432		1,641
Mortgage and other financing income	3,514		100,923		17,318		—		—		121,755
Total revenue	228,701		205,075		92,203		6,833		1,432		534,244

Property operating expense	17,962		91		1,880		1,452		481		21,866
Other expense	—		118		—		—		—		118
Total investment expenses	17,962		209		1,880		1,452		481		21,984
Net operating income - before unallocated items	210,739		204,866		90,323		5,381		951		512,260

Reconciliation to Consolidated Statements of Income:
General and administrative expense											(36,724		)
Litigation settlement expense											(2,090		)
Costs associated with loan refinancing or payoff											(31,958		)
Interest expense, net											(101,992		)
Transaction costs											(2,115		)
Impairment charges											(16,548		)
Depreciation and amortization											(113,889		)
Equity in loss from joint ventures											(17		)
Gain on sale of real estate											2,688
Gain on sale of investment in direct financing leases											5,514
Income tax expense											(2,177		)
Net income											212,952
Preferred dividend requirements											(18,108		)
Net income available to common shareholders of EPR Properties											$	194,844