EPR Properties Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	199.64	146.07	173.05	176.23	98.61	-131.73
Depreciation & Amortization	166.25	165.4	167.5	163.3	163.39	169.85
Other Amortization	8.62	8.84	8.64	8.36	7.67	6.61
Gain (Loss) on Sale of Assets	-34.35	-16.1	2.2	-0.65	-17.88	-50.12
Gain (Loss) on Sale of Investments	16.09	28.22	-	0.65	-	3.25
Asset Writedown	39.95	51.76	67.37	27.35	2.71	85.66
Stock-Based Compensation	16.11	15.66	17.82	16.67	14.9	15.08
Income (Loss) on Equity Investments	4.83	8.81	8.07	2.45	5.15	4.55
Change in Accounts Receivable	-17.87	-24.2	-11.32	25.47	37.39	-54.96
Change in Accounts Payable	9.45	11.95	8.49	14.58	-8.65	-16.13
Change in Other Net Operating Assets	-5.69	-9.23	-2.74	-0.01	-1.83	-2.35
Other Operating Activities	-0.96	-1.2	-0.34	-0.72	24.27	16.07
Operating Cash Flow	416.11	393.14	447.09	441.72	306.93	65.27
Operating Cash Flow Growth	10.32%	-12.07%	1.22%	43.92%	370.22%	-85.15%
Acquisition of Real Estate Assets	-117.79	-147.97	-151.86	-250.24	-85.86	-79.18
Sale of Real Estate Assets	134.97	74.42	57.16	10.97	96.14	227.74
Net Sale / Acq. of Real Estate Assets	17.18	-73.55	-94.7	-239.28	10.28	148.56
Investment in Marketable & Equity Securities	-2.54	-1.29	-4.86	-19.39	-13.61	-1.69
Other Investing Activities	11.78	11.81	8.38	0.57	5.62	-5.22
Investing Cash Flow	-37.22	-176.35	-201.05	-351.59	1.86	133.99
Long-Term Debt Issued	-	244	-	-	400	750
Long-Term Debt Repaid	-	-205.64	-	-	-1,289	-160
Net Debt Issued (Repaid)	-90	38.36	-	-	-888.77	590
Issuance of Common Stock	0.94	0.82	0.62	0.76	0.46	0.97
Repurchase of Common Stock	-9.83	-11.38	-3.7	-4.26	-2.76	-113.38
Preferred Stock Issued	-	-	-	0.11	-	-
Common & Preferred Dividends Paid	-288.09	-279.89	-272.25	-265.66	-117.53	-172.46
Total Dividends Paid	-288.09	-279.89	-272.25	-265.66	-117.53	-172.46
Other Financing Activities	-0.45	-9.53	-0.37	-0.34	-38.08	-7.96
Foreign Exchange Rate Adjustments	-0.09	-0.45	0.12	-0.13	-0.22	0.14
Net Cash Flow	-8.63	-45.28	-29.53	-179.39	-738.11	496.57
Cash Interest Paid	136.3	129.46	125.65	125.81	150.03	152.39
Cash Income Tax Paid	3.5	2.65	1.5	1.28	1.47	1.51
Levered Free Cash Flow	338.53	291.97	355.93	351.55	293.71	67.1
Unlevered Free Cash Flow	412.91	364.77	427.32	424.53	376.61	158.89
Change in Working Capital	-19.39	-26.57	1.93	37.27	30.09	-84.64

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.

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