Company: EPR-PE
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001045450-25-000082
Chunk: 71

Company: EPR PROPERTIES
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 2
Chunk 71
---
 per diluted share and Funds From Operations As Adjusted ("FFOAA") per diluted share (a non-GAAP financial measure) are detailed below for the three months ended March 31, 2025 and 2024 (in millions, except per share information):

Three Months Ended March 31,20252024% ChangeTotal revenue$175.0 $167.2 4.7 %Net income available to common shareholders per diluted share$0.78 $0.75 4.0 %FFOAA per diluted share$1.19 $1.13 5.3 %

The major factors impacting our results for the three months ended March 31, 2025, as compared to the three months ended March 31, 2024 were as follows:

•The effect of investments and dispositions that occurred in 2025 and 2024;

•The recognition of retirement and severance expense for the three months ended March 31, 2024 versus no such expense recognized for the three months ended March 31, 2025;

•The recognition of benefit for credit losses, net for the three months ended March 31, 2025 versus the recognition of provision for credit losses, net for the three months ended March 31, 2024; and

•The recognition of higher gain on sale of real estate for the three months ended March 31, 2024 versus the three months ended March 31, 2025. 

For further detail on items impacting our operating results, see section below titled "Results of Operations." FFOAA is a non-GAAP financial measure. For the definitions and further details on the calculations of FFOAA and certain other non-GAAP financial measures, see the section below titled "Non-GAAP Financial Measures."

Critical Accounting Policies and Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires management to make estimates and assumptions in certain circumstances that affect amounts reported in the accompanying consolidated financial statements and related notes. In preparing these financial statements, management has made its best estimates and assumptions that affect the reported assets and liabilities and the reported amounts of revenues and expenses during the reporting period. The most significant assumptions and estimates relate to the valuation of real estate, accounting for real estate acquisitions, assessing the collectability of receivables and the credit loss related to mortgage and other notes receivable. Application of these assumptions requires the exercise of judgment as to future uncertainties and, as