Company: EPR-PE
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001045450-25-000120
Chunk: 29

Company: EPR PROPERTIES
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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 June 30, 2025, the Company believes that all outstanding accrued interest is collectible.In the event the Company has a past due mortgage note or note receivable that the Company determines is collateral-dependent, the Company measures expected credit losses based on the fair value of the collateral with the credit allowance being the difference between the outstanding principal balance of the notes and the estimated fair value. As of June 30, 2025, the Company does not have any mortgage notes or notes receivable with past due principal 

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balances. See Note 5 for further discussion of mortgage notes and notes receivable for which the Company elected to apply the collateral-dependent practical expedient.Mortgage and Other Financing IncomeCertain of the Company's borrowers are subject to additional interest based on certain thresholds defined in the mortgage agreements (participating interest). Participating interest income is recognized at the time when specific triggering events occur as provided by the mortgage agreement. Participating interest income for the six months ended June 30, 2025 related to one borrower and was $1.8 million. There was no participating interest income for the six months ended June 30, 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 six months ended June 30, 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): Six Months Ended June 30,20252024Total Revenue% of Company's Total RevenueTotal Revenue% of Company's Total RevenueTopgolf$50,276 14.2 %$49,528 14.6 %AMC47,256 13.4 %47,193 13.9 %Regal40,200 11.4 %37,357 11.0 %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 AS