Company: EPR-PE
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001045450-25-000082
Chunk: 44

Company: EPR PROPERTIES
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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 Lease costsOperating ground lease costProperty operating expense$6,668 $6,547 Operating office lease costGeneral and administrative expense224 224 

13.  Segment Information

The Company groups its investments into two reportable operating segments: Experiential and Education. The Company’s segment structure reflects the financial information and reports used by the Company’s management team, specifically its chief operating decision maker (CODM), to make decisions regarding the Company’s business, including resource allocation and performance assessments. The Company’s CODM is its Chairman, President and Chief Executive Officer. The CODM uses Total Assets and Net Operating Income (NOI) before unallocated items by segment to assess and allocate resources. NOI is calculated as total revenue (consisting of rental revenue, other income and mortgage and other financing income) less property operating expense and other expense. The financial information summarized below is presented by reportable operating segment (in thousands):Balance Sheet Data:As of March 31, 2025ExperientialEducationCorporate/UnallocatedConsolidatedTotal Assets$5,128,994 $370,651 $32,904 $5,532,549 As of December 31, 2024ExperientialEducationCorporate/UnallocatedConsolidatedTotal Assets$5,171,845 $409,801 $34,861 $5,616,507 

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Operating Data:Three Months Ended March 31, 2025ExperientialEducationCorporate/UnallocatedConsolidatedRental revenue$135,806 $10,553 $— $146,359 Other income11,458 — 178 11,636 Mortgage and other financing income16,771 267 — 17,038 Total revenue164,035 10,820 178 175,033 Property operating expense14,931 4 236 15,171 Other expense12,611 — — 12,611 Total investment expenses27,542 4 236 27,782 Net operating income - before unallocated items136,493 10,816 (58)147,251 Reconciliation to Consolidated Statements of Income and Comprehensive Income:General and administrative expense(14,024)Transaction costs(567)(Provision) benefit for credit losses, net652 Depreciation and amortization(41,089)Gain on sale of real estate9,384