Company: EPR-PE
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001045450-25-000135
Chunk: 53

Company: EPR PROPERTIES
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 53
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 for the three and nine months ended September 30, 2025.

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The following table summarizes rental revenue, including sublease arrangements and lease costs, for the three and nine months ended September 30, 2025 and 2024 (in thousands):Three Months Ended September 30,Nine Months Ended September 30,Classification2025202420252024Lease revenueOperating leasesRental revenue$148,125 $142,189 $431,672 $416,589 Sublease income - operating ground leasesRental revenue6,713 6,488 19,876 19,462 Lease costsOperating ground lease costProperty operating expense$6,765 $6,531 $20,141 $19,617 Operating office lease costGeneral and administrative expense224 224 672 672 

14.  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 September 30, 2025ExperientialEducationCorporate/UnallocatedConsolidatedTotal Assets$5,156,649 $365,300 $21,948 $5,543,897 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 September 30, 2025ExperientialEducationCorporate/UnallocatedConsolidatedRental revenue$146,129 $8,709 $— $154,838 Other income12,072 — 63 12,135 Mortgage and other financing income15,326 7 — 15,333