Company: EPR-PE
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001045450-25-000082
Chunk: 28

Company: EPR PROPERTIES
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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 the time when specific triggering events occur as provided by the mortgage agreement. Participating interest income for the three months ended March 31, 2025 related to one borrower and was $1.8 million. There was no participating interest income for the three months ended March 31, 2024. Concentrations of RiskTopgolf USA (Topgolf), American-Multi Cinema, Inc. (AMC) and Regal Cinemas (Regal), a subsidiary of Cineworld Group, represented a significant portion of the Company's total revenue for the three months ended March 31, 2025 and 2024. The following is a summary of the Company's total revenue derived from rental or interest payments from Topgolf, AMC and Regal (dollars in thousands): Three Months Ended March 31,20252024Total Revenue% of Company's Total RevenueTotal Revenue% of Company's Total RevenueTopgolf$25,176 14.4 %$24,723 14.8 %AMC23,789 13.6 %23,464 14.0 %Regal18,722 10.7 %18,706 11.2 %Impact of Recently Issued Accounting StandardsIn December 2023, the FASB issued Accounting Standards Update (ASU) No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The ASU enhances annual income tax disclosures by requiring entities to disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. In addition, the ASU requires annual disclosure of income taxes paid disaggregated by jurisdiction. The guidance became effective for fiscal year beginning after December 15, 2024 on a prospective basis. The Company will include such disclosure in its Annual Report on Form10-K for the year ended December 31, 2025. 

In November 2024, the FASB issued ASU No. 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 22-40): Disaggregation of Income Statement Expenses. The ASU requires entities to provide enhanced disclosures related to certain income statement costs and expenses in the notes to the financial statements. The guidance is effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is