Company: EPR-PE
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001045450-25-000051
Chunk: 178

Company: EPR PROPERTIES
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 178
---
 collateralized basis by estimating the credit spread improvement that would result from an upgrade of one ratings classification. The following table summarizes the future minimum lease payments under the ground lease obligations and the office lease at December 31, 2024, excluding contingent rent due under leases where the ground lease payment, or a portion thereof, is based on the level of the tenant's sales (in thousands):December 31, 2024 Ground Leases (1)Office lease (2)Year:2025$27,844 $958 202626,401 717 202725,075 — 202824,192 — 202922,635 — Thereafter190,198 — Total lease payments$316,345 $1,675 Less: imputed interest105,531 89 Present value of lease liabilities$210,814 $1,586 (1) Included in property operating expense. (2) Included in general and administrative expense.The following table summarizes the carrying amounts of the operating lease right-of-use assets and liabilities as of December 31, 2024 and 2023 (in thousands):As of December 31,Classification20242023Assets:Operating ground lease assetsOperating lease right-of-use assets$171,885 $184,376 Office lease assetOperating lease right-of-use assets1,479 2,252 Total operating lease right-of-use assets$173,364 $186,628 Sub-lessor straight-line rent receivableAccounts receivable17,527 17,430 Total leased assets$190,891 $204,058 Liabilities:Operating ground lease liabilitiesOperating lease liabilities$210,814 $224,540 Office lease liabilityOperating lease liabilities1,586 2,421 Total lease liabilities$212,400 $226,961 

101

EPR PROPERTIES Notes to Consolidated Financial StatementsDecember 31, 2024, 2023 and 2022

The following table summarizes rental revenue, including sublease arrangements and lease costs, including impairment charges on operating lease right-of-use assets for the years ended December 31, 2024, 2023 and 2022(in thousands):Year ended December 31,Classification202420232022Rental revenueOperating leasesRental revenue$559,079 $588,751 $551,383 Sublease income - operating ground leasesRental revenue26,088 27,388 24,218