Company: EPR-PE
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001045450-25-000051
Chunk: 155

Company: EPR PROPERTIES
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 155
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 2024. As discussed in Note 8, the Company is working in good faith with its joint venture partners, the non-recourse debt providers and insurance companies (as applicable) to identify a path forward in which the Company expects will result in the eventual removal of the unconsolidated equity investments in three experiential lodging properties and related non-recourse debt from the Company's portfolio.Principal payments due on long-term debt obligations subsequent to December 31, 2024 (without consideration of any extensions) are as follows (in thousands): AmountYear:2025$300,000 2026629,597 2027450,000 2028575,000 2029500,000 Thereafter424,995 Less: deferred financing costs, net(19,134)Total$2,860,458 The Company capitalizes a portion of interest costs as a component of property under development. The following is a summary of interest expense, net, for the years ended December 31, 2024, 2023 and 2022 (in thousands):202420232022Interest on loans$125,261 $122,968 $123,070 Amortization of deferred financing costs8,844 8,637 8,360 Credit facility and letter of credit fees2,664 2,676 2,682 Interest cost capitalized(3,468)(3,566)(1,286)Interest income(2,491)(5,857)(1,651)Interest expense, net$130,810 $124,858 $131,175 

10. Derivative Instruments

All derivatives are recognized at fair value in the consolidated balance sheets within the line items "Other assets" and "Accounts payable and accrued liabilities" as applicable. The Company has elected not to offset its derivative position for purposes of balance sheet presentation and disclosure. The Company had derivative assets of $2.2 million and $1.3 million at December 31, 2024 and 2023, respectively. The Company had derivative liabilities of $0.03 million and $4.9 million at December 31, 2024 and 2023, respectively. The Company has neither posted nor received collateral with its derivative counterparties as of December 31, 2024 and 2023. See Note 11 for disclosures relating to the fair value of the derivative instruments.Risk Management Objective of Using DerivativesThe Company is