v3.26.1
Segment Information (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Schedule of Reportable Operating Segments Segment Information
The Company groups its investments into two reportable operating segments: Experiential and Education. The Company’s segment structure reflects the financial information and reports used by the Company’s management team, specifically its chief operating decision maker (CODM), to make decisions regarding the Company’s business, including resource allocation and performance assessments. The Company’s CODM is its Chairman, President and Chief Executive Officer. The CODM uses Total Assets and Net Operating Income (NOI) before unallocated items by segment to assess and allocate resources. NOI is calculated as total revenue (consisting of rental revenue, other income and mortgage and other financing income) less property operating expense and other expense.

The financial information summarized below is presented by reportable operating segment (in thousands):
Balance Sheet Data:
As of June 30, 2026
ExperientialEducationCorporate/UnallocatedConsolidated
Total Assets$5,679,202 $356,698 $16,213 $6,052,113 
As of December 31, 2025
ExperientialEducationCorporate/UnallocatedConsolidated
Total Assets$5,241,639 $363,430 $94,693 $5,699,762 
Operating Data:
Three Months Ended June 30, 2026
ExperientialEducationCorporate/UnallocatedConsolidated
Rental revenue$160,647 $8,386 $— $169,033 
Other income11,633 — 131 11,764 
Mortgage and other financing income
15,278 4 — 15,282 
Total revenue187,558 8,390 131 196,079 
Property operating expense
15,093 — 273 15,366 
Other expense11,064 — — 11,064 
Total investment expenses
26,157 — 273 26,430 
Net operating income - before unallocated items161,401 8,390 (142)169,649 
Reconciliation to Consolidated Statements of Income and Comprehensive Income:
General and administrative expense(13,976)
Transaction costs(45)
(Provision) benefit for credit losses, net(138)
Depreciation and amortization(48,630)
Gain on real estate transactions182 
Interest expense, net(38,275)
Equity in loss from joint ventures(984)
Income tax expense(617)
Net income67,166 
Preferred dividend requirements(6,040)
Net income available to common shareholders of EPR Properties$61,126 
Three Months Ended June 30, 2025
ExperientialEducationCorporate/UnallocatedConsolidated
Rental revenue$141,686 $8,665 $— $150,351 
Other income12,174 — 44 12,218 
Mortgage and other financing income
15,489 10 — 15,499 
Total revenue169,349 8,675 44 178,068 
Property operating expense
14,425 24 212 14,661 
Other expense11,959 — — 11,959 
Total investment expenses
26,384 24 212 26,620 
Net operating income - before unallocated items142,965 8,651 (168)151,448 
Reconciliation to Consolidated Statements of Income and Comprehensive Income:
General and administrative expense(13,230)
Transaction costs(669)
(Provision) benefit for credit losses, net(997)
Depreciation and amortization(42,080)
Gain on real estate transactions16,779 
Interest expense, net(33,246)
Equity in loss from joint ventures(1,681)
Income tax expense(681)
Net income75,643 
Preferred dividend requirements(6,040)
Net income available to common shareholders of EPR Properties$69,603