Segment Information (Tables)

9 Months Ended

Sep. 30, 2021

Segment Information

The Company groups its investments into two reportable operating segments: Experiential and Education.

The financial information summarized below is presented by reportable operating segment (in thousands):


Operating Data:
	Three Months Ended September 30, 2021
	Experiential		Education		Corporate/Unallocated		Consolidated
Rental revenue	$	113,589	$	9,451	$	—	$	123,040
Other income	8,052		—		39		8,091
Mortgage and other financing income	8,283		233		—		8,516
Total revenue	129,924		9,684		39		139,647

Property operating expense	13,572		16		227		13,815
Other expense	7,851		—		—		7,851
Total investment expenses	21,423		16		227		21,666
Net operating income - before unallocated items	108,501		9,668		(188)		117,981

Reconciliation to Consolidated Statements of Income (Loss) and Comprehensive Income (Loss):
General and administrative expense							(11,154)


Costs associated with loan refinancing or payoff							(4,741)

Interest expense, net							(36,584)
Transaction costs							(2,132)
Credit loss benefit							14,096
Impairment charges							(2,711)
Depreciation and amortization							(42,612)
Equity in loss from joint ventures							(418)

Gain on sale of real estate							787

Income tax expense							(395)




Net income							32,117

Preferred dividend requirements							(6,033)
Net income available to common shareholders of EPR Properties							$	26,084


Operating Data:
	Three Months Ended September 30, 2020
	Experiential		Education		Corporate/Unallocated		Consolidated
Rental revenue	$	40,270	$	15,321	$	—	$	55,591
Other income	14		13		155		182
Mortgage and other financing income	7,761		343		—		8,104
Total revenue	48,045		15,677		155		63,877

Property operating expense	13,011		550		198		13,759
Other expense	2,680		—		—		2,680
Total investment expenses	15,691		550		198		16,439
Net operating income - before unallocated items	32,354		15,127		(43)		47,438

Reconciliation to Consolidated Statements of Income (Loss) and Comprehensive Income (Loss):
General and administrative expense							(10,034)




Interest expense, net							(41,744)
Transaction costs							(2,776)
Credit loss expense							(5,707)
Impairment charges							(11,561)
Depreciation and amortization							(42,059)
Equity in loss from joint ventures							(1,044)



Income tax expense							(18,417)



Net loss							(85,904)
Preferred dividend requirements							(6,034)
Net loss available to common shareholders of EPR Properties							$	(91,938)


Operating Data:
	Nine Months Ended September 30, 2021
	Experiential		Education		Corporate/Unallocated		Consolidated
Rental revenue	$	313,424	$	28,113	$	—	$	341,537
Other income	9,442		—		360		9,802
Mortgage and other financing income	24,663		772		—		25,435
Total revenue	347,529		28,885		360		376,774

Property operating expense	42,985		113		708		43,806
Other expense	13,428		—		—		13,428
Total investment expenses	56,413		113		708		57,234
Net operating income - before unallocated items	291,116		28,772		(348)		319,540
Reconciliation to Consolidated Statements of Income (Loss) and Comprehensive Income (Loss):
General and administrative expense							(33,866)

Costs associated with loan refinancing or payoff							(4,982)

Interest expense, net							(114,090)
Transaction costs							(3,342)
Credit loss benefit							19,677
Impairment charges							(2,711)
Depreciation and amortization							(123,476)
Equity in loss from joint ventures							(3,000)

Gain on sale of real estate							1,499

Income tax expense							(1,200)




Net income							54,049

Preferred dividend requirements							(18,100)
Net income available to common shareholders of EPR Properties							$	35,949


Operating Data:
	Nine Months Ended September 30, 2020
	Experiential		Education		Corporate/Unallocated		Consolidated
Rental revenue	$	243,134	$	45,031	$	—	$	288,165
Other income	7,227		13		931		8,171
Mortgage and other financing income	23,913		1,000		—		24,913
Total revenue	274,274		46,044		931		321,249

Property operating expense	39,854		1,719		608		42,181
Other expense	15,012		—		—		15,012
Total investment expenses	54,866		1,719		608		57,193
Net operating income - before unallocated items	219,408		44,325		323		264,056

Reconciliation to Consolidated Statements of Income (Loss) and Comprehensive Income (Loss):
General and administrative expense							(31,454)

Costs associated with loan refinancing or payoff							(820)

Interest expense, net							(114,837)
Transaction costs							(4,622)
Credit loss expense							(10,383)
Impairment charges							(62,825)
Depreciation and amortization							(128,319)
Equity in loss from joint ventures							(3,188)
Impairment charges on joint ventures							(3,247)
Gain on sale of real estate							242

Income tax benefit							(16,354)




Net loss							(111,751)

Preferred dividend requirements							(18,102)
Net loss available to common shareholders of EPR Properties							$	(129,853)