Company: EPR-PE
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001045450-25-000051
Chunk: 128

Company: EPR PROPERTIES
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 128
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 business (in a business combination) over the net of the amounts assigned to assets acquired (including identified intangible assets) and liabilities assumed is recorded as goodwill. Goodwill has an indeterminate life and is not amortized, but is tested for impairment on an annual basis, or more frequently if events or changes in circumstances indicate that the asset might be impaired. Management of the Company reviews the carrying value of intangible assets for impairment on an annual basis. Intangible assets and liabilities (included in "Other assets" and "Accounts payable and accrued liabilities" in the accompanying consolidated balance sheets) consist of the following at December 31 (in thousands):20242023Assets:In-place leases, net of accumulated amortization of $27.3 million and $26.6 million, respectively$14,677 $16,402 Above-market lease, net of accumulated amortization of $1.4 million and $1.3 million, respectively165 211 Tradenames, net of accumulated amortization of $850 thousand and $716 thousand, respectively (1)8,314 8,447 Contract value, net of accumulated amortization of $2.4 million and $2.0 million, respectively8,592 8,957 Goodwill693 693 Total intangible assets, net$32,441 $34,710 Liabilities:Below-market lease, net of accumulated amortization of $3.5 million and $3.1 million, respectively$7,139 $7,557 (1) At December 31, 2024 and 2023, $5.4 million in tradenames had indefinite lives and were not amortized. Aggregate intangible amortization included in expense was $2.2 million, $7.1 million and $3.3 million for the years ended December 31, 2024, 2023 and 2022, respectively. The net amount amortized as an increase to rental revenue for capitalized above and below-market lease intangibles was $0.4 million, $0.5 million and $0.4 million for the years ended December 31, 2024, 2023 and 2022, respectively.

70

EPR PROPERTIES Notes to Consolidated Financial StatementsDecember 31, 2024, 2023 and 2022

Future amortization of in-place leases, net, above-market lease, net, tradenames, net, contract value, net and below