Company: EPR-PE
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001045450-25-000051
Chunk: 103

Company: EPR PROPERTIES
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 103
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-cash portion of mortgage and other financing income(1,984)(1,088)(473)Allocated share of joint venture non-cash items712 — — AFFO available to common shareholders of EPR Properties$371,409 $400,643 $370,340 FFO per common share:Basic$4.76 $5.24 $4.64 Diluted4.70 5.15 4.60 FFOAA per common share:Basic$4.94 $5.28 $4.74 Diluted4.87 5.18 4.69 Shares used for computation (in thousands):Basic75,636 75,260 74,967 Diluted75,999 75,715 75,043 Weighted average shares outstanding-diluted EPS75,999 75,715 75,043 Effect of dilutive Series C preferred shares2,314 2,283 2,250 Effect of dilutive Series E preferred shares1,664 1,663 1,664 Adjusted weighted average shares outstanding - diluted Series C and Series E79,977 79,661 78,957 Other financial information:Dividends per common share$3.400 $3.300 $3.250 

(1) Includes maintenance capital expenditures and certain second-generation tenant improvements and leasing commissions.

The effect of the conversion of our convertible preferred shares is calculated using the if-converted method and the conversion, which results in the most dilution is included in the computation of per share amounts. The conversion of the 5.75% Series C cumulative convertible preferred shares and the 9.00% Series E cumulative convertible preferred shares would be dilutive to FFO, FFOAA and AFFO per share for the years ended December 31, 2024, 2023 and 2022. Therefore, the additional common shares that would result from the conversion and the corresponding add-back of the preferred dividends declared on those shares are included in the calculation of diluted FFO and FFOAA per share and would be included in a calculation of AFFO per share for these periods. 

Net Debt

Net Debt represents debt (reported in accordance with GAAP) adjusted to exclude deferred financing costs, net and reduced for cash and cash equivalents. By excluding deferred financing costs, net and reducing debt for cash and cash equivalents on hand, the result provides