Company: EPR-PE
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001045450-25-000051
Chunk: 106

Company: EPR PROPERTIES
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 106
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 financial measure), as applicable, are included in the following tables (unaudited, in thousands except ratios):

December 31, 20242023Net Debt:Debt$2,860,458 $2,816,095 Deferred financing costs, net19,134 25,134 Cash and cash equivalents(22,062)(78,079)Net Debt$2,857,530 $2,763,150 Gross Assets:Total Assets$5,616,507 $5,700,885 Accumulated depreciation1,562,645 1,435,683 Cash and cash equivalents(22,062)(78,079)Gross Assets$7,157,090 $7,058,489 Debt to Total Assets Ratio51 %49 %Net Debt to Gross Assets Ratio40 %39 %Three Months Ended December 31,20242023EBITDAre and Adjusted EBITDAre:Net (loss) income$(8,395)$45,529 Interest expense, net33,472 30,337 Income tax expense653 667 Depreciation and amortization40,995 40,692 (Gain) loss on sale of real estate(112)3,612 Impairment of real estate investments39,952 2,694 Allocated share of joint venture depreciation1,965 2,344 Allocated share of joint venture interest expense589 1,879 Impairment charges on joint ventures16,087 — EBITDAre$125,206 $127,754 Transaction costs423 401 Provision (benefit) for credit losses, net9,876 1,285 Adjusted EBITDAre$135,505 $129,440 Adjusted EBITDAre (annualized) (1)$542,020 $517,760 Net Debt to Adjusted EBITDAre Ratio5.3 5.3 (1) Adjusted EBITDAre for the quarter is multiplied by four to calculate an annual amount but does not include the annualization of investments put in service, acquired or disposed of during the quarter, as well as the potential earnings on property under development, the annualization of percent rent and participating interest and adjustments for other items.

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Total Investments

Total investments is a non-GAAP financial measure defined as the sum of the carrying values of real estate investments (before