Company: EPR-PE
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001045450-25-000051
Chunk: 91

Company: EPR PROPERTIES
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 91
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Capital Markets Activities

On August 22, 2024, we repaid our $136.6 million Series A unsecured private placement notes due 2024, using funds available on our $1.0 billion senior unsecured revolving credit facility. 

During the year ended December 31, 2024, we entered into a Fourth Amended, Restated and Consolidated Credit Agreement (the "Amended Credit Agreement"). See discussion below in Liquidity and Capital Resources and Note 9 to the consolidated financial statements in this Annual Report on Form 10-K for additional information.

44

Results of Operations

Year ended December 31, 2024 compared to year ended December 31, 2023 

Analysis of Revenue

The following table summarizes our total revenue (dollars in thousands): 

Year Ended December 31,Change20242023Minimum rent (1)$530,664 $570,549 $(39,885)Percentage rent (2)14,540 12,192 2,348 Straight-line rent (3)17,327 10,591 6,736 Tenant reimbursements20,758 21,285 (527)Other rental revenue1,878 1,522 356 Total Rental Revenue$585,167 $616,139 $(30,972)Other income (4)57,071 45,947 11,124 Mortgage and other financing income (5)55,830 43,582 12,248 Total revenue$698,068 $705,668 $(7,600)

(1) For the year ended December 31, 2024 compared to the year ended December 31, 2023, the decrease in minimum rent resulted from a decrease of $11.5 million related to the comprehensive restructuring agreement with Regal entered into on June 27, 2023, a $33.3 million decrease in deferred rental repayments from cash basis tenants, a $6.9 million decrease from property dispositions, a $3.4 million decrease from lease termination fees recognized during the year ended December 31, 2023 and a $0.2 million decrease from vacant properties. This decrease was partially offset by an increase in rental revenue of $9.4 million related to property acquisitions and developments completed in 2024 and 2023 and an increase in rental revenue on existing properties of $6.0 million. 

During the year ended December 31