Company: EPR-PE
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001045450-25-000051
Chunk: 101

Company: EPR PROPERTIES
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 101
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 second generation tenant improvements and leasing commissions), straight-lined rental revenue (removing the impact of straight-line ground sublease expense), the non-cash portion of mortgage and other financing income and the allocated share of joint venture non-cash items.  

FFO, FFOAA and AFFO are widely used measures of the operating performance of real estate companies and are provided here as supplemental measures to GAAP net income available to common shareholders and earnings per share, and management provides FFO, FFOAA and AFFO herein because it believes this information is useful to 

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investors in this regard. FFO, FFOAA and AFFO are non-GAAP financial measures. FFO, FFOAA and AFFO do not represent cash flows from operations as defined by GAAP and are not indicative that cash flows are adequate to fund all cash needs and are not to be considered alternatives to net income or any other GAAP measure as a measurement of the results of our operations or our cash flows or liquidity as defined by GAAP. It should also be noted that not all REITs calculate FFO, FFOAA and AFFO the same way so comparisons with other REITs may not be meaningful.

The following table summarizes our FFO, FFOAA and AFFO including per share amounts for FFO and FFOAA, for the years ended December 31, 2024, 2023 and 2022 and reconciles such measures to net income available to common shareholders, the most directly comparable GAAP measure (unaudited, in thousands, except per share information):

 Year ended December 31, 202420232022FFO:Net income available to common shareholders of EPR Properties$121,922 $148,901 $152,088 (Gain) loss on sale of real estate (16,101)2,197 (651)Impairment of real estate investments51,764 67,366 25,381 Real estate depreciation and amortization165,029 167,219 162,821 Allocated share of joint venture depreciation9,419 8,876 7,409 Impairment charges on joint ventures28,217 — 647 FFO available to common shareholders of EPR Properties$360,250 $394,559 $347,695 FFO available to common shareholders of EPR Properties$360,250 $394,559 $347,695 Add:  Preferred dividends for Series