Company: EPR-PE
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001045450-25-000051
Chunk: 93

Company: EPR PROPERTIES
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 93
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airment charges (4)51,764 67,366 (15,602)Depreciation and amortization165,733 168,033 (2,300)Gain (loss) on sale of real estate (5)16,101 (2,197)18,298 Costs associated with loan refinancing or payoff337 — 337 Interest expense, net (6)130,810 124,858 5,952 Equity in loss from joint ventures (7)8,809 6,768 2,041 Impairment charges on joint ventures (8)28,217 — 28,217 Income tax expense 1,433 1,727 (294)Preferred dividend requirements24,144 24,145 (1)

(1) The increase in other expense for the year ended December 31, 2024 compared to the year ended December 31, 2023 related primarily to the addition of operating expense from five theatre properties that were previously leased by Regal. One of these properties closed on September 20, 2024 and is currently vacant as we prepare to sell it. 

(2) The decrease in general and administrative expense for the year ended December 31, 2024 compared to the year ended December 31, 2023 related primarily to a decrease in payroll and benefit costs, a decrease in franchise taxes due to a state legislative change that went into effect during the second quarter of 2024 and a decrease in professional fees, including those related to the comprehensive restructuring agreement with Regal in 2023. 

(3) The change in provision (benefit) for credit losses, net for the year ended December 31, 2024 compared to the year ended December 31, 2023 was due primarily to credit loss expense of $10.3 million related to one mortgage note receivable recognized during the year ended December 31, 2024. 

(4) Impairment charges recognized during the year ended December 31, 2024 related to one vacant theatre property, two theatre properties being operated through third-party property management agreements and two leased theatre properties. Impairment charges recognized during the year ended December 31, 2023 related to eight theatre properties surrendered by Regal in connection with their bankruptcy resolution, two leased theatre properties and two early childhood education center properties. 

(5) The gain on sale of real estate for the year ended December