EPR Properties (EPR) 10-Q 9 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	3 Months Ended
	Mar. 31, 2018	May 07, 2018
Entity Information [Line Items]
Entity Registrant Name	EPR PROPERTIES
Entity Central Index Key	1,045,450
Trading Symbol	EPR
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		74,320,559

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Assets
Rental properties, net of accumulated depreciation of $776,404 and $741,334 at March 31, 2018 and December 31, 2017, respectively	$ 4,815,137	$ 4,604,231
Land held for development	33,693	33,692
Property under development	249,931	257,629
Mortgage notes and related accrued interest receivable	819,837	970,749
Investment in a direct financing lease, net	58,101	57,903
Investment in joint ventures	5,538	5,602
Cash and cash equivalents	24,514	41,917
Restricted cash	15,640	17,069
Accounts receivable, net	88,750	93,693
Other assets	127,725	109,008
Total assets	6,238,866	6,191,493
Liabilities:
Accounts payable and accrued liabilities	117,583	136,929
Common dividends payable	26,755	25,203
Preferred dividends payable	6,036	4,982
Unearned rents and interest	81,461	68,227
Debt	3,131,437	3,028,827
Total liabilities	3,363,272	3,264,168
Equity:
Common Shares, $.01 par value; 100,000,000 shares authorized; and 77,161,235 and 76,858,632 shares issued at March 31, 2018 and December 31, 2017, respectively	772	769
Preferred shares, $.01 par value; 25,000,000 shares authorized:
Additional paid-in-capital	3,487,130	3,478,986
Treasury shares at cost: 2,842,294 and 2,733,552 common shares at March 31, 2018 and December 31, 2017, respectively	(128,707)	(121,591)
Accumulated other comprehensive income	16,481	12,483
Distributions in excess of net income	(500,230)	(443,470)
Total equity	2,875,594	2,927,325
Total liabilities and equity	6,238,866	6,191,493
Series C Preferred Shares [Member]
Preferred shares, $.01 par value; 25,000,000 shares authorized:
Preferred shares	54	54
Series E Preferred Shares [Member]
Preferred shares, $.01 par value; 25,000,000 shares authorized:
Preferred shares	34	34
Series G Preferred Stock [Member]
Preferred shares, $.01 par value; 25,000,000 shares authorized:
Preferred shares	$ 60	$ 60

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Rental properties, accumulated depreciation	$ 776,404,000	$ 741,334,000
Common Shares, par value	$ 0.01	$ 0.01
Common Shares, shares authorized	100,000,000	100,000,000
Common Shares, shares issued	77,161,235	76,858,632
Preferred Shares, par value	$ 0.01	$ 0.01
Preferred Shares, shares authorized	25,000,000	25,000,000
Treasury Shares, common shares	2,842,294	2,733,552
Series C Preferred Shares [Member]
Preferred Shares, shares issued	5,399,050	5,399,050
Preferred Shares, liquidation preference	$ 134,976,250	$ 134,976,250
Series E Preferred Shares [Member]
Preferred Shares, shares issued	3,447,381	3,449,115
Preferred Shares, liquidation preference	$ 86,184,525	$ 86,227,875
Series G Preferred Stock [Member]
Preferred Shares, shares issued	6,000,000	6,000,000
Preferred Shares, liquidation preference	$ 150,000,000	$ 150,000,000

Consolidated Statements Of Inco

Consolidated Statements Of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Rental revenue	$ 128,933	$ 107,037
Tenant reimbursements	3,991	3,749
Other income	630	692
Mortgage and other financing income	21,414	17,634
Total revenue	154,968	129,112
Property operating expense	7,564	6,350
General and administrative expense	12,324	11,057
Costs associated with loan refinancing or payoff	31,943	5
Interest expense, net	34,337	30,692
Transaction costs	609	57
Depreciation and amortization	37,684	28,077
Income before equity in income from joint ventures and other items	30,507	52,874
Equity in income (loss) from joint ventures	51	(8)
Gain on sale of real estate	0	2,004
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	30,558	54,870
Income tax expense	(1,020)	(954)
Net income	29,538	53,916
Preferred dividend requirements	(6,036)	(5,952)
Net income available to common shareholders of EPR Properties	$ 23,502	$ 47,964
Basic earnings per share data:
Net income available to common shareholders (in dollars per share)	$ 0.32	$ 0.75
Diluted earnings per share data:
Net income available to common shareholders (in dollars per share)	$ 0.32	$ 0.75
Shares used for computation (in thousands):
Basic (in shares)	74,146	64,033
Diluted (in shares)	74,180	64,102

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Net income	$ 29,538	$ 53,916
Other comprehensive income (loss):
Foreign currency translation adjustment	(5,400)	1,674
Change in net unrealized gain (loss) on derivatives	9,398	(802)
Comprehensive income	$ 33,536	$ 54,788

Consolidated Statement Of Chang

Consolidated Statement Of Changes In Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Preferred Stock [Member]	Additional Paid-in Capital [Member]	Treasury shares [Member]	Accumulated other comprehensive income (loss) [Member]	Distributions in excess of net income [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total equity	$ 2,927,325	$ 769	$ 148	$ 3,478,986	$ (121,591)	$ 12,483	$ (443,470)
Balance (in shares) at Dec. 31, 2017		76,858,632	14,848,165
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of nonvested shares, net		295,202
Issuance of nonvested shares, net	(3,974)	$ (3)		(3,971)	0
Purchase of common shares for vesting	7,116				7,116
Amortization of nonvested shares	(3,718)			(3,718)
Share option expense	73			73
Foreign currency translation adjustment	(5,400)					(5,400)
Change in unrealized gain/loss on derivatives	9,398					9,398
Net income	29,538						29,538
Issuances of common shares (in shares)		6,601
Issuances of common shares	382	$ 0		382
Stock Issued During Period, Shares, Conversion of Convertible Securities		800
Stock Redeemed or Called During Period, Shares			(1,734)
Stock Redeemed or Called During Period, Value	0		$ 0
Dividends to common and preferred shareholders	(86,298)						(86,298)
Balance (in shares) at Mar. 31, 2018		77,161,235	14,846,431
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total equity	$ 2,875,594	$ 772	$ 148	$ 3,487,130	$ (128,707)	$ 16,481	$ (500,230)

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Operating activities:
Net income	$ 29,538	$ 53,916
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Gain on sale of real estate	0	(2,004)
Deferred income tax expense	428	634
Costs associated with loan refinancing or payoff	31,943	5
Equity in income from joint ventures	(51)	8
Distributions from joint ventures	116	442
Depreciation and amortization	37,684	28,077
Amortization of deferred financing costs	1,398	1,456
Amortization of above/below market leases and tenant allowances, net	(417)	45
Share-based compensation expense to management and trustees	3,791	3,458
Decrease in mortgage notes accrued interest receivable	845	1,098
Decrease in accounts receivable, net	3,597	2,720
Increase in direct financing lease receivable	(198)	(397)
Increase in other assets	(3,826)	(3,147)
Decrease in accounts payable and accrued liabilities	(9,118)	(7,311)
Increase in unearned rents and interest	13,234	14,550
Net cash provided by operating activities	108,964	93,550
Investing activities:
Acquisition of and investments in rental properties and other assets	38,869	60,764
Proceeds from sale of real estate	0	18,105
Investment in mortgage notes receivable	(16,223)	(67,057)
Proceeds from mortgage note receivable paydown	11,555	8,140
Investment in promissory notes receivable	7,677	554
Proceeds from promissory note receivable paydown	0	1,599
Additions to properties under development	(55,702)	(100,184)
Net cash used by investing activities	(106,916)	(200,715)
Financing activities:
Proceeds from long-term debt facilities	380,000	175,000
Principal payments on long-term debt	(281,684)	(45,331)
Deferred financing fees paid	(38)	(33)
Costs associated with loan refinancing or payoff (cash portion)	(28,650)	(1)
Net proceeds from issuance of common shares	303	68,141
Impact of stock option exercises, net	0	(138)
Purchase of common shares for treasury	(7,116)	(6,729)
Dividends paid to shareholders	(83,613)	(69,856)
Net cash (used) provided by financing activities	(20,798)	121,053
Effect of exchange rate changes on cash	(82)	2
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	(18,832)	13,890
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	40,154	42,969
Supplemental schedule of non-cash activity:
Transfer of property under development to rental property	55,377	63,672
Issuance of nonvested shares and restricted share units at fair value, including nonvested shares issued for payment of bonuses	16,809	21,698
Noncash or Part Noncash Acquisition, Value of Assets Acquired	155,185	0
Supplemental disclosure of cash flow information:
Cash paid during the year for interest	41,948	41,030
Cash paid during the period for income taxes	290	317
Interest cost capitalized	2,244	2,791
Decrease in accrued capital expenditures	(4,278)	(5,506)
Cash and Cash Equivalents, at Carrying Value	24,514	14,446
Restricted Cash and Cash Equivalents	$ 15,640	$ 28,523

Organization

Organization	3 Months Ended
	Mar. 31, 2018
Organization [Abstract]
Organization	Organization Description of Business EPR Properties (the Company) is a specialty real estate investment trust (REIT) organized on August 29, 1997 in Maryland. The Company develops, owns, leases and finances properties in select market segments primarily related to Entertainment, Recreation and Education. The Company’s properties are located in the United States and Canada.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies and Recently Issued Accounting Standards Basis of Presentation The accompanying unaudited consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and revenues and expenses for the period. Actual results could differ significantly from those estimates. In addition, operating results for the three month period ended March 31, 2018 are not necessarily indicative of the results that may be expected for the year ending December 31, 2018 . The Company consolidates certain entities when it is deemed to be the primary beneficiary in a variable interest entity (VIE) in which it has a controlling financial interest in accordance with the consolidation guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC). The consolidated balance sheet as of December 31, 2017 has been derived from the audited consolidated balance sheet at that date but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. For further information, refer to the consolidated financial statements and footnotes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2017 filed with the Securities and Exchange Commission (SEC) on March 1, 2018. Recently Adopted Accounting Pronouncements On January 1, 2018, the Company adopted Accounting Standards Update (ASU) No. 2016-18, Statement of Cash Flows , and certain reclassifications have been made to prior period balances to conform to current presentation in the consolidated statement of cash flows. Under ASU No. 2016-18, transfers to or from restricted cash which have been previously shown in the Company's operating activities section of the accompanying consolidated statement of cash flows are now required to be shown as part of the total change in cash and cash equivalents and restricted cash in the consolidated statements of cash flows. In addition, on January 1, 2018, the Company adopted ASU No. 2016-15, Classification of Certain Cash Receipts and Cash Payments. The ASU clarifies the treatment of several cash flow issues with the objective of reducing diversity in practice. The adoption of this ASU had no impact to the Company's financial position, results of operations or presentation in the consolidated statement of cash flows. On January 1, 2018, the Company adopted Accounting Standards Codification (ASC) 606, Revenue from Contracts with Customers (ASC 606) and ASC 610-20, Other Income: Gains and Losses from the Derecognition of Non-financial Assets (ASC 610-20) using a modified retrospective (cumulative effect) method of adoption. The core principal of ASC 606 is that an entity will recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers when it satisfies performance obligations. The Company’s primary source of revenue is from lease revenue (which is excluded from the revenue standard but will be impacted upon adoption of the lease standard in 2019 discussed in Impact of Recently Issued Accounting Standards) and mortgage and other financing income (which is not in scope of the revenue standard). ASC 610-20 provides guidance on how entities recognize sales to non-customers including presentation of gain or loss on a net basis in the consolidated statements of income. The Company has concluded that its property sales represent transactions with non-customers. The Company had two property sale transactions that occurred in 2017 in which the Company received an aggregate of $12.3 million in mortgage notes receivable as full consideration for the sales. The mortgage notes require interest only payments until maturity and the Company determined in 2017 that these transactions qualified as sales; however, the gain on each sale was deferred. Upon adoption of ASC 610-20 on January 1, 2018, the Company determined that these transactions did not qualify for de-recognition. Accordingly, the Company recorded an adjustment in the three months ended March 31, 2018 to reclassify these assets from mortgage notes receivable to rental properties on its consolidated balance sheet. All other sales of real estate were all cash transactions in which the purchaser obtained control of the property, therefore, there was no cumulative adjustment recognized to beginning retained earnings as a result of adopting ASC 610-20. Operating Segments The Company has four reportable operating segments: Entertainment, Recreation, Education and Other. See Note 14 for financial information related to these operating segments. Rental Properties Rental properties are carried at cost less accumulated depreciation. Costs incurred for the acquisition and development of the properties are capitalized. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, which generally are estimated to be 30 to 40 years for buildings and three to 25 years for furniture, fixtures and equipment and 10 to 20 years for site improvements. Tenant improvements, including allowances, are depreciated over the shorter of the base term of the lease or the estimated useful life and leasehold interests are depreciated over the useful life of the underlying ground lease. Expenditures for ordinary maintenance and repairs are charged to operations in the period incurred. Significant renovations and improvements that improve or extend the useful life of the asset are capitalized and depreciated over their estimated useful life. Management reviews a property for impairment whenever events or changes in circumstances indicate that the carrying value of a property may not be recoverable. The review of recoverability is based on an estimate of undiscounted future cash flows expected to result from its use and eventual disposition. If impairment exists due to the inability to recover the carrying value of the property, an impairment loss is recorded to the extent that the carrying value of the property exceeds its estimated fair value. The Company evaluates the held-for-sale classification of its real estate as of the end of each quarter. Assets that are classified as held for sale are recorded at the lower of their carrying amount or fair value less costs to sell. Assets are generally classified as held for sale once management has initiated an active program to market them for sale and it is probable the assets will be sold within one year. On occasion, the Company will receive unsolicited offers from third parties to buy individual Company properties. Under these circumstances, the Company will classify the properties as held for sale when a sales contract is executed with no contingencies and the prospective buyer has funds at risk to ensure performance. Real Estate Acquisitions Upon acquisition of real estate properties, the Company evaluates the acquisition to determine if it is a business combination or an asset acquisition. In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business . The update clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether acquisitions should be accounted for as business combinations or asset acquisitions. The standard is effective for annual reporting periods beginning after December 15, 2017, including interim periods within those fiscal years, with early application of the guidance permitted. The Company elected to early adopt ASU No. 2017-01 as of January 1, 2017. As a result, the Company expects that fewer of its real estate acquisitions will be accounted for as business combinations. Costs incurred for asset acquisitions and development properties, including transaction costs, are capitalized. For asset acquisitions, the Company allocates the purchase price and other related costs incurred to the acquired tangible assets and identified intangible assets and liabilities based on recent independent appraisals or methods similar to those used by independent appraisers and management judgment. Acquisition-related costs in connection with business combinations are expensed as incurred. Costs related to such transactions, as well as costs associated with terminated transactions, are included in the accompanying consolidated statements of income as transaction costs. Deferred Financing Costs Deferred financing costs are amortized over the terms of the related debt obligations or mortgage note receivable as applicable. Deferred financing costs of $28.6 million and $32.9 million as of March 31, 2018 and December 31, 2017 , respectively, are shown as a reduction of debt. The deferred financing costs related to the unsecured revolving credit facility are included in other assets. Allowance for Doubtful Accounts Accounts receivable is reduced by an allowance for amounts where collection is not probable. The Company’s accounts receivable balance is comprised primarily of rents and operating cost recoveries due from tenants as well as accrued rental rate increases to be received over the life of the existing leases. The Company regularly evaluates the adequacy of its allowance for doubtful accounts. The evaluation primarily consists of reviewing past due account balances and considering such factors as the credit quality of the Company’s tenants, historical trends of the tenant and/or other debtor, current economic conditions and changes in customer payment terms. Additionally, with respect to tenants in bankruptcy, the Company estimates the expected recovery through bankruptcy claims and increases the allowance for amounts deemed uncollectible. These estimates have a direct impact on the Company's net income. Revenue Recognition Rents that are fixed and determinable are recognized on a straight-line basis over the non-cancellable terms of the leases. Straight-line rental revenue is subject to an evaluation for collectability, and the Company records a provision for losses against rental revenues if collectability of these future rents is not reasonably assured. For the three months ended March 31, 2018 and 2017 , the Company recognized $1.9 million and $5.1 million , respectively, of straight-line rental revenue. Base rent escalation on leases that are dependent upon increases in the Consumer Price Index (CPI) is recognized when known. In addition, most of the Company's tenants are subject to additional rents if gross revenues of the properties exceed certain thresholds defined in the lease agreements (percentage rents). Percentage rents as well as participating interest for those mortgage agreements that contain similar such clauses are recognized at the time when specific triggering events occur as provided by the lease or mortgage agreements. Rental revenue included percentage rents of $1.3 million and $0.8 million for the three months ended March 31, 2018 and 2017 , respectively. Direct financing lease income is recognized on the effective interest method to produce a level yield on funds not yet recovered. Estimated unguaranteed residual values at the date of lease inception represent management's initial estimates of fair value of the leased assets at the expiration of the lease, not to exceed original cost. Significant assumptions used in estimating residual values include estimated net cash flows over the remaining lease term and expected future real estate values. The Company evaluates on an annual basis (or more frequently, if necessary) the collectability of its direct financing lease receivable and unguaranteed residual value to determine whether they are impaired. A direct financing lease receivable is considered to be impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the existing contractual terms. When a direct financing lease receivable is considered to be impaired, the amount of loss is calculated by comparing the recorded investment to the value determined by discounting the expected future cash flows at the direct financing lease receivable's effective interest rate or to the fair value of the underlying collateral, less costs to sell, if such receivable is collateralized. Property Sales Sales of real estate properties are recognized when a contract exists, collectability is probable and the purchaser has obtained control of the property. Gains on sales of properties are recognized in full in a partial sale of nonfinancial assets, to the extent control is not retained. Any noncontrolling interest retained by the seller would, accordingly, be measured at fair value. The Company evaluates each sale or disposal transaction to determine if it meets the criteria to qualify as discontinued operations. A discontinued operation is a component of an entity or group of components that have been disposed of or are classified as held for sale and represent a strategic shift that has or will have a major effect on the Company's operations and financial results. If the sale or disposal transaction does not meet the criteria, the operations and related gain or loss on sale is included in income from continuing operations. Mortgage Notes and Other Notes Receivable Mortgage notes and other notes receivable, including related accrued interest receivable, consist of loans originated by the Company and the related accrued and unpaid interest income as of the balance sheet date. Mortgage notes and other notes receivable are initially recorded at the amount advanced to the borrower. Interest income is recognized using the effective interest method based on the stated interest rate over the estimated life of the note. Premiums and discounts are amortized or accreted into income over the estimated life of the note using the effective interest method. The Company evaluates the collectability of both interest and principal of each of its loans to determine whether it is impaired. A loan is considered to be impaired when, based on current information and events, the Company determines that it is probable that it will be unable to collect all amounts due according to the existing contractual terms. An insignificant delay or shortfall in amounts of payments does not necessarily result in the loan being identified as impaired. When a loan is considered to be impaired, the amount of loss, if any, is calculated by comparing the recorded investment to the value determined by discounting the expected future cash flows at the loan’s effective interest rate or to the fair value of the Company’s interest in the underlying collateral, less costs to sell, if the loan is collateral dependent. For impaired loans, interest income is recognized on a cash basis, unless the Company determines based on the loan to estimated fair value ratio the loan should be on the cost recovery method, and any cash payments received would then be reflected as a reduction of principal. Interest income recognition is recommenced if and when the impaired loan becomes contractually current and performance is demonstrated to be resumed. Concentrations of Risk American Multi-Cinema, Inc. (AMC) was the lessee of a substantial portion ( 38% ) of the megaplex theatre rental properties held by the Company at March 31, 2018 . For the three months ended March 31, 2018 and 2017 , approximately $28.6 million or 18.4% and $29.2 million or 22.7% , respectively, of the Company's total revenues were derived from rental payments by AMC. These rental payments are from AMC under the leases, or from its parent, AMC Entertainment, Inc. (AMCE), as the guarantor of AMC’s obligations under the leases. AMCE is wholly owned by AMC Entertainment Holdings, Inc. (AMCEH). AMCEH is a publicly held company (NYSE: AMC) and its consolidated financial information is publicly available at www.sec.gov. Share-Based Compensation Share-based compensation to employees of the Company is granted pursuant to the Company's Annual Incentive Program and Long-Term Incentive Plan and share-based compensation to non-employee Trustees of the Company is granted pursuant to the Company's Trustee compensation program. Prior to May 12, 2016, share-based compensation granted to employees and non-employee Trustees was issued under the 2007 Equity Incentive Plan. The 2016 Equity Incentive Plan was approved by shareholders at the May 11, 2016 annual shareholder meeting and this plan replaced the 2007 Equity Incentive Plan. Accordingly, all share-based compensation granted on or after May 12, 2016 has been issued under the 2016 Equity Incentive Plan. Share-based compensation expense consists of share option expense and amortization of nonvested share grants issued to employees, and amortization of share units issued to non-employee Trustees for payment of their annual retainers. Share-based compensation included in general and administrative expense in the accompanying consolidated statements of income totaled $3.8 million and $3.5 million for the three months ended March 31, 2018 and 2017 , respectively. Share Options Share options are granted to employees pursuant to the Long-Term Incentive Plan. The fair value of share options granted is estimated at the date of grant using the Black-Scholes option pricing model. Share options granted to employees vest over a period of four years and share option expense for these options is recognized on a straight-line basis over the vesting period. Expense recognized related to share options and included in general and administrative expense in the accompanying consolidated statements of income was $73 thousand and $194 thousand for the three months ended March 31, 2018 and 2017 , respectively. Nonvested Shares Issued to Employees The Company grants nonvested shares to employees pursuant to both the Annual Incentive Program and the Long-Term Incentive Plan. The Company amortizes the expense related to the nonvested shares awarded to employees under the Long-Term Incentive Plan and the premium awarded under the nonvested share alternative of the Annual Incentive Program on a straight-line basis over the future vesting period ( three or four years). Expense recognized related to nonvested shares and included in general and administrative expense in the accompanying consolidated statements of income was $3.4 million and $3.0 million for the three months ended March 31, 2018 and 2017 , respectively. Restricted Share Units Issued to Non-Employee Trustees The Company issues restricted share units to non-employee Trustees for payment of their annual retainers under the Company's Trustee compensation program. The fair value of the share units granted was based on the share price at the date of grant. The share units vest upon the earlier of the day preceding the next annual meeting of shareholders or a change of control. The settlement date for the shares is selected by the non-employee Trustee, and ranges from one year from the grant date to upon termination of service. This expense is amortized by the Company on a straight-line basis over the year of service by the non-employee Trustees. Total expense recognized related to shares issued to non-employee Trustees was $337 thousand and $280 thousand for the three months ended March 31, 2018 and 2017 , respectively. Derivative Instruments In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities . The update amended existing guidance in order to better align a company's financial reporting for hedging activities with the economic objectives of those activities. It requires the Company to disclose the effect of its hedging activities on its consolidated statements of income and eliminated the periodic measurement and recognition of hedging ineffectiveness. The standard is effective for annual reporting periods beginning after December 15, 2018, including interim periods within those fiscal years, with early application of the guidance permitted. The Company elected to early adopt ASU No. 2017-12 as of October 1, 2017. Early adoption had no impact on the Company's financial position or results of operations. The Company has entered into certain derivative instruments to reduce exposure to fluctuations in foreign currency exchange rates and variable interest rates. The Company has established policies and procedures for risk assessment and the approval, reporting and monitoring of derivative financial instrument activities. These derivatives consist of foreign currency forward contracts, cross-currency swaps and interest rate swaps. The Company records all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Derivatives may also be designated as hedges of the foreign currency exposure of a net investment in a foreign operation. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. The Company may enter into derivative contracts that are intended to economically hedge certain of its risk, even though hedge accounting does not apply or the Company elects not to apply hedge accounting. The Company's policy is to measure the credit risk of its derivative financial instruments that are subject to master netting agreements on a net basis by counterparty portfolio. Impact of Recently Issued Accounting Standards In February 2016, the FASB issued ASU No. 2016-02, Leases , which amends existing accounting standards for lease accounting and is intended to improve financial reporting related to lease transactions. The ASU will require lessees to classify leases as either finance or operating leases based on certain criteria and to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. Lessor accounting will remain largely unchanged from current U.S. GAAP. The standard eliminates current real estate-specific provisions and changes the guidance on sale-leaseback transactions, and also will require new disclosures within the notes accompanying the consolidated financial statements. Although the Company is primarily a lessor, ASU No. 2016-02 will impact the Company’s consolidated financial statements and disclosures as it has certain operating land leases and other arrangements for which it is the lessee and will be required to recognize these arrangements on the consolidated financial statements. The Company has completed its initial inventory and evaluation of the land leases and expects that it will be required to recognize a right-of-use asset and a lease liability for the present value of the minimum lease payments. The Company is in the process of preparing the initial estimates of the amount of its right-of-use assets and lease liabilities. A substantial portion of the Company’s lease contracts (under which it is lessor) are triple-net leases, which require the tenants to make payments to third parties for operating expenses such as property taxes, insurance and common area maintenance costs associated with the properties. The Company currently does not include these payments made by the lessee to third parties in rental revenue or property operating expenses. As a result of applying the guidance in ASU No. 2016-02, the Company may be required to show certain payments made by its tenants on a gross basis in its consolidated statements of income. Although no impact to net income or cash flows is expected as a result of a gross presentation, it would have the impact of increasing both reported revenues and property operating expenses. The Company is continuing to evaluate the impact of this potential presentation. The ASU will become effective for the Company for interim and annual reporting periods in fiscal years beginning after December 15, 2018. The Company expects to adopt the new standard on its effective date. The standard offers a number of practical expedients for transition and certain expedients specific to lessees or lessors. Both lessees and lessors are permitted to make an election to apply a package of practical expedients available for implementation under the standard. The Company has concluded it will apply the package of practical expedients and certain other transition expedients. For transition, the Company intends to recognize all effects of transition in the beginning of the adoption reporting period on January 1, 2019. The Company will continue its implementation work in 2018 including enhancements to the Company’s internal control framework, accounting systems and related documentation surrounding its lease accounting processes and the preparation of any additional disclosures that will be required. In June 2016, the FASB issued ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments , which amends ASC Topic 326, Financial Instruments - Credit Losses. The ASU changes the methodology for measuring credit losses on financial instruments and timing of when such losses are recorded. The amendments in ASU No. 2016-13 require the Company to measure all expected credit losses based upon historical experience, current conditions and reasonable and supportable forecasts that affect the collectability of financial assets and eliminates the incurred losses methodology under current U.S. GAAP. ASU No. 2016-13 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2019. The Company is currently evaluating the impact that the ASU will have on its consolidated financial statements and related disclosures.

Rental Properties

Rental Properties	3 Months Ended
	Mar. 31, 2018
Real Estate [Abstract]
Rental Properties	Rental Properties The following table summarizes the carrying amounts of rental properties as of March 31, 2018 and December 31, 2017 (in thousands): March 31, 2018 December 31, 2017 Buildings and improvements $ 4,327,847 $ 4,123,356 Furniture, fixtures & equipment 89,506 87,630 Land 1,148,414 1,108,805 Leasehold interests 25,774 25,774 5,591,541 5,345,565 Accumulated depreciation (776,404 ) (741,334 ) Total $ 4,815,137 $ 4,604,231 Depreciation expense on rental properties was $36.5 million and $27.3 million for the three months ended March 31, 2018 and 2017 , respectively.

Investments and Dispositions

Investments and Dispositions	3 Months Ended
	Mar. 31, 2018
Investments [Abstract]
Investments	Investments and Dispositions The Company's investment spending during the three months ended March 31, 2018 totaled $108.6 million , and included investments in each of its primary operating segments. Entertainment investment spending during the three months ended March 31, 2018 totaled $25.5 million , including spending on build-to-suit development and redevelopment of megaplex theatres, entertainment retail centers and family entertainment centers, as well as a $7.5 million megaplex theatre acquisition. Recreation investment spending during the three months ended March 31, 2018 totaled $62.0 million , including spending on build-to-suit development of golf entertainment complexes and attractions, redevelopment of ski areas, a $7.8 million acquisition of a recreation facility, and an investment of $10.3 million in a mortgage note secured by one other recreation facility. Education investment spending during the three months ended March 31, 2018 totaled $21.1 million , including spending on build-to-suit development and redevelopment of public charter schools, early education centers and private schools, as well as $8.4 million on two early education center acquisitions. On February 16, 2018, a borrower exercised its put option to convert its mortgage note agreement, totaling $142.9 million and secured by 28 education facilities including both early education and private school properties, to a lease agreement. As a result, the Company recorded the rental property at the carrying value, which approximated fair value, of the mortgage note on the conversion date and allocated this cost on a relative fair value basis. The properties are leased pursuant to a triple-net master lease with a 23 -year remaining term. On March 11, 2018, the Company received payment in full on one mortgage note receivable of $1.5 million that was secured by land located in California. Additionally, on March 26, 2018, the Company received payment in full on one mortgage note receivable of $9.0 million that was secured by real estate in Washington. There were no prepayment fees received in connection with these note payoffs. Subsequent to March 31, 2018, on May 7, 2018, Boyne USA, Inc. (Boyne) purchased seven resort and attraction assets from Och-Ziff Real Estate (OZRE). These properties partially secure the Company’s mortgage note receivable due from OZRE with a carrying value of $249.2 million at March 31, 2018. Following the acquisition by Boyne, OZRE made a partial prepayment to the Company of approximately $175.4 million on this mortgage note receivable, leaving a carrying value of approximately $73.8 million that is secured by the remaining six ski properties. In connection with the partial prepayment of this note, the Company will recognize a prepayment fee totaling approximately $45.0 million during the second quarter of 2018.

Accounts Receivable, Net

Accounts Receivable, Net	3 Months Ended
	Mar. 31, 2018
Accounts Receivable, Net [Abstract]
Accounts Receivable, Net	Accounts Receivable, Net The following table summarizes the carrying amounts of accounts receivable, net as of March 31, 2018 and December 31, 2017 (in thousands): March 31, December 31, Receivable from tenants $ 16,642 $ 19,923 Receivable from non-tenants 3,919 3,932 Receivable from Sullivan County Infrastructure Revenue Bonds 11,423 14,718 Straight-line rent receivable 65,203 62,605 Allowance for doubtful accounts (8,437 ) (7,485 ) Total $ 88,750 $ 93,693 The above totals include receivables from tenants of approximately $6.7 million and $6.0 million from Children's Learning Adventure USA (CLA Parent and collectively with its subsidiaries, CLA), which were fully reserved in the allowance for doubtful accounts at March 31, 2018 and December 31, 2017, respectively. See Note 13 for further discussion related to CLA. The Company had approximately $253.6 million related to CLA classified in rental properties, net, in the accompanying consolidated balance sheets at March 31, 2018. Additionally, the Company had approximately $11.2 million classified in land held for development and $14.7 million classified in property under development related to CLA in the accompanying consolidated balance sheets at March 31, 2018. The Company reviewed these balances for impairment at March 31, 2018 and determined that the estimated undiscounted future cash flows exceeded the carrying value of these properties.

Investments In Direct Financing

Investments In Direct Financing Lease	3 Months Ended
	Mar. 31, 2018
Capital Leases, Net Investment in Direct Financing Leases [Abstract]
Investments in a Direct Financing Lease	Investment in Direct Financing Leases The Company’s investment in direct financing leases relates to the Company’s leases of six public charter school properties as of March 31, 2018 and December 31, 2017 , with affiliates of Imagine Schools, Inc. (Imagine). Investment in direct financing leases, net represents estimated unguaranteed residual values of leased assets and net unpaid rentals, less related deferred income. The following table summarizes the carrying amounts of investment in direct financing leases, net as of March 31, 2018 and December 31, 2017 (in thousands): March 31, 2018 December 31, 2017 Total minimum lease payments receivable $ 110,852 $ 112,411 Estimated unguaranteed residual value of leased assets 47,000 47,000 Less deferred income (1) (99,751 ) (101,508 ) Investment in direct financing leases, net $ 58,101 $ 57,903 (1) Deferred income is net of $0.8 million of initial direct costs at March 31, 2018 and December 31, 2017 . During the year ended December 31, 2017 , the Company recorded an impairment charge of $9.6 million , which included an allowance for lease loss of $7.3 million and a charge of $2.3 million related to estimated unguaranteed residual value. The Company determined that no additional allowance for losses was necessary at March 31, 2018 . Additionally, during the year ended December 31, 2017 , the Company performed its annual review of the estimated unguaranteed residual value on its other properties leased to Imagine and determined that the residual value on one of these properties was impaired. As such, the Company recorded an impairment charge of the unguaranteed residual value of $0.6 million during the year ended December 31, 2017 . The Company’s direct financing leases have expiration dates ranging from approximately 14 to 16 years. Future minimum rentals receivable on these direct financing leases at March 31, 2018 are as follows (in thousands): Amount Year: 2018 $ 4,742 2019 6,490 2020 6,685 2021 6,885 2022 7,092 Thereafter 78,958 Total $ 110,852

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2018
Long-term Debt, Unclassified [Abstract]
Long-Term Debt	Debt and Capital Markets On January 2, 2018, the Company prepaid in full a mortgage note payable totaling $11.7 million with an annual interest rate of 6.19% , which was secured by one theatre property. Additionally, on February 28, 2018, the Company redeemed all of its outstanding 7.75% Senior Notes due July 15, 2020. The notes were redeemed at a price equal to the principal amount of $250.0 million plus a premium calculated pursuant to the terms of the indenture of $28.6 million , together with accrued and unpaid interest up to, but not including the redemption date of $2.3 million . In connection with the redemption, the Company recorded a non-cash write off of $3.3 million in deferred financing costs. The premium and non-cash write off were recognized as costs associated with loan refinancing or payoff in the accompanying consolidated statements of income for the three months ended March 31, 2018. Subsequent to March 31, 2018, the Company issued $400.0 million in aggregate principal amount of senior notes due April 15, 2028 pursuant to an underwritten public offering. The notes bear interest at an annual rate of 4.95% . Interest is payable on April 15 and October 15 of each year beginning on October 15, 2018 until the stated maturity date of April 15, 2028. The notes were issued at 98.883% of their face value and are unsecured. The notes contain various covenants, including: (i) a limitation on incurrence of any debt which would cause the ratio of the Company’s debt to adjusted total assets to exceed 60% ; (ii) a limitation on incurrence of any secured debt which would cause the ratio of the Company’s secured debt to adjusted total assets to exceed 40% ; (iii) a limitation on incurrence of any debt which would cause the Company’s debt service coverage ratio to be less than 1.5 times and (iv) the maintenance at all times of the Company's total unencumbered assets such that they are not less than 150% of the Company’s outstanding unsecured debt. Net proceeds from the note offering were used to pay down the Company's unsecured revolving credit facility.

Variable Interest Entities

Variable Interest Entities	3 Months Ended
	Mar. 31, 2018
Variable Interest Entities [Abstract]
Variable Interest Entities	Variable Interest Entities The Company’s variable interest in VIEs currently are in the form of equity ownership and loans provided by the Company to a VIE or other partner. The Company examines specific criteria and uses its judgment when determining if the Company is the primary beneficiary of a VIE. Factors considered in determining whether the Company is the primary beneficiary include risk and reward sharing, experience and financial condition of other partner(s), voting rights, involvement in day-to-day capital and operating decisions, representation on a VIE’s executive committee, existence of unilateral kick-out rights or voting rights, and level of economic disproportionality between the Company and the other partner(s). Consolidated VIEs As of March 31, 2018 , the Company had invested approximately $23.3 million included in property under development in the accompanying consolidated balance sheet for one real estate project which is a VIE. This entity does not have any other significant assets or liabilities at March 31, 2018 and was established to facilitate the development of a theatre project. Unconsolidated VIE At March 31, 2018 , the Company's recorded investment in two unconsolidated VIEs totaled $180.4 million . The Company's maximum exposure to loss associated with these VIEs is limited to the Company's outstanding mortgage notes and related accrued interest receivable of $180.4 million . These mortgage notes are secured by three recreation properties and one public charter school. While these entities are VIEs, the Company has determined that the power to direct the activities of these VIEs that most significantly impact the VIEs' economic performance is not held by the Company.

Derivative Instruments

Derivative Instruments	3 Months Ended
	Mar. 31, 2018
Summary of Derivative Instruments [Abstract]
Derivative Instruments	Derivative Instruments All derivatives are recognized at fair value in the consolidated balance sheets within the line items "Other assets" and "Accounts payable and accrued liabilities" as applicable. The Company's derivatives are subject to a master netting arrangement and the Company has elected not to offset its derivative position for purposes of balance sheet presentation and disclosure. The Company had derivative liabilities of $0.1 million recorded in “Accounts payable and accrued liabilities” in the consolidated balance sheet at December 31, 2017 . The Company had derivative assets of $35.0 million and $25.8 million recorded in “Other assets” in the consolidated balance sheet at March 31, 2018 and December 31, 2017 , respectively. The Company had not posted or received collateral with its derivative counterparties as of March 31, 2018 or December 31, 2017 . See Note 10 for disclosures relating to the fair value of the derivative instruments as of March 31, 2018 and December 31, 2017 . Risk Management Objective of Using Derivatives The Company is exposed to certain risk arising from both its business operations and economic conditions including the effect of changes in foreign currency exchange rates and interest rates on its LIBOR based borrowings. The Company manages this risk by following established risk management policies and procedures including the use of derivatives. The Company’s objective in using derivatives is to add stability to reported earnings and to manage its exposure to foreign exchange and interest rate movements or other identified risks. To accomplish this objective, the Company primarily uses interest rate swaps, cross-currency swaps and foreign currency forwards. Cash Flow Hedges of Interest Rate Risk The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements on its LIBOR based borrowings. To accomplish these objectives, the Company currently uses interest rate swaps as its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. As of March 31, 2018 , the Company had two interest rate swap agreements to fix the interest rate at 2.64% on $300.0 million of borrowings under the unsecured term loan facility from July 6, 2017 to April 5, 2019. Additionally, as of March 31, 2018 , the Company had three additional interest rate swap agreements to fix the interest rate at 3.15% on an additional $50.0 million of borrowings under its unsecured term loan facility from November 6, 2017 to April 5, 2019 and on $350.0 million of borrowings under the unsecured term loan facility from April 6, 2019 to February 7, 2022. The change in the fair value of interest rate derivatives designated and that qualify as cash flow hedges is recorded in accumulated other comprehensive income (AOCI) and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings within the same income statement line item as the earnings effect of the hedged transaction. During the three months ended March 31, 2018 and 2017 , such derivatives were used to hedge the variable cash flows associated with existing variable-rate debt. Amounts reported in AOCI related to derivatives will be reclassified to interest expense as interest payments are made on the Company’s variable-rate debt. As of March 31, 2018 , the Company estimates t hat during the twelve months ending March 31, 2019, $1.8 million will be reclassified from AOCI to a reduction of interest expense. Cash Flow Hedges of Foreign Exchange Risk The Company is exposed to foreign currency exchange risk against its functional currency, USD, on its four Canadian properties. The Company uses cross currency swaps and foreign currency forwards to mitigate its exposure to fluctuations in the USD-CAD exchange rate on its Canadian properties. These foreign currency derivatives should hedge a significant portion of the Company's expected CAD denominated cash flow of the Canadian properties as their impact on the Company's cash flow when settled should move in the opposite direction of the exchange rates used to translate revenues and expenses of these properties. As of March 31, 2018 , the Company had USD-CAD cross-currency swaps with a fixed original notional value of $100.0 million CAD and $98.1 million USD. The net effect of these swaps is to lock in an exchange rate of $1.05 CAD per USD on approximately $13.5 million of annual CAD denominated cash flows on the properties through June 2018. Additionally, on August 30, 2017, the Company entered into a cross-currency swap that will be effective July 1, 2018 with a fixed original notional value of $100.0 million CAD and $79.5 million USD. The net effect of these swaps is to lock in an exchange rate of 1.26 CAD per USD on approximately $13.5 million of annual CAD denominated cash flows on the properties through June 2020. The change in the fair value of foreign currency derivatives designated and that qualify as cash flow hedges of foreign exchange risk is recorded in AOCI and subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings within the same income statement line item as the earnings effect of the hedged transaction. As of March 31, 2018 , the Company estimates t hat during the twelve months ending March 31, 2019, $0.8 million of gains will be reclassified from AOCI to other income. Net Investment Hedges As discussed above, the Company is exposed to fluctuations in foreign exchange rates on its four Canadian properties. As such, the Company uses currency forward agreements to hedge its exposure to changes in foreign exchange rates. Currency forward agreements involve fixing the USD-CAD exchange rate for delivery of a specified amount of foreign currency on a specified date. The currency forward agreements are typically cash settled in USD for their fair value at or close to their settlement date. In order to hedge the net investment in four of the Canadian properties, on June 13, 2013, the Company entered into a forward contract with a fixed notional value of $100.0 million CAD and $94.3 million USD with a July 2018 settlement. The exchange rate of this forward contract is approximately $1.06 CAD per USD. Additionally, on February 28, 2014, the Company entered into a forward contract with a fixed notional value of $100.0 million CAD and $88.1 million USD with a July 2018 settlement date. The exchange rate of this forward contract is approximately $1.13 CAD per USD. These forward contracts should hedge a significant portion of the Company’s CAD denominated net investment in these four centers through July 2018 as the impact on AOCI from marking the derivative to market should move in the opposite direction of the translation adjustment on the net assets of these four Canadian properties. For foreign currency derivatives designated as net investment hedges, the change in the fair value of the derivatives are reported in AOCI as part of the cumulative translation adjustment. Amounts are reclassified out of AOCI into earnings when the hedged net investment is either sold or substantially liquidated. Below is a summary of the effect of derivative instruments on the consolidated statements of changes in equity and income for the three months ended March 31, 2018 and 2017 . Effect of Derivative Instruments on the Consolidated Statements of Changes in Equity and Income for the Three Months Ended March 31, 2018 and 2017 (Dollars in thousands) Three Months Ended March 31, Description 2018 2017 Interest Rate Swaps Amount of Gain Recognized in AOCI on Derivative $ 4,778 $ 504 Amount of Expense Reclassified from AOCI into Earnings (1) (13 ) (1,071 ) Cross-Currency Swaps Amount of Gain (Loss) Recognized in AOCI on Derivative 615 (166 ) Amount of Income Reclassified from AOCI into Earnings (2) 554 662 Currency Forward Agreements Amount of Gain (Loss) Recognized in AOCI on Derivative 4,546 (1,549 ) Amount of Income Reclassified from AOCI into Earnings — — Total Amount of Gain (Loss) Recognized in AOCI on Derivatives $ 9,939 $ (1,211 ) Amount of Income (Expense) Reclassified from AOCI into Earnings 541 (409 ) Interest expense, net in accompanying consolidated statements of income 34,337 30,692 Other income in accompanying consolidated statements of income 630 692 (1) Included in "Interest expense, net" in the accompanying consolidated statements of income for the three months ended March 31, 2018 and 2017 . (2) Included in "Other income" in the accompanying consolidated statements of income for the three months ended March 31, 2018 and 2017 . Credit-risk-related Contingent Features The Company has agreements with each of its interest rate derivative counterparties that contain a provision where if the Company defaults on any of its obligations for borrowed money or credit in an amount exceeding $25.0 million for two of the agreements and $50.0 million for three of the agreements and such default is not waived or cured within a specified period of time, including default where repayment of the indebtedness has not been accelerated by the lender, then the Company could also be declared in default on its interest rate derivative obligations. As of March 31, 2018 , the Company had no derivatives in a liability position related to these agreements. As of March 31, 2018, the Company had not posted any collateral related to these agreements and was not in breach of any provisions in these agreements. If the Company breached any of the contractual provisions of these derivative contracts, it would be required to settle its obligations under the agreements at their termination value.

Fair Value Disclosures

Fair Value Disclosures	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value Disclosures	Fair Value Disclosures The Company has certain financial instruments that are required to be measured under the FASB’s Fair Value Measurement guidance. The Company currently does not have any non-financial assets and non-financial liabilities that are required to be measured at fair value on a recurring basis. As a basis for considering market participant assumptions in fair value measurements, the FASB’s Fair Value Measurement guidance establishes a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the reporting entity’s own assumptions about market participant assumptions (unobservable inputs classified within Level 3 of the hierarchy). Level 1 inputs use quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access. Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability, which are typically based on an entity’s own assumptions, as there is little, if any, related market activity. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. Derivative Financial Instruments The Company uses interest rate swaps, foreign currency forwards and cross-currency swaps to manage its interest rate and foreign currency risk. The valuation of these instruments is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves, foreign exchange rates, and implied volatilities. The fair values of interest rate swaps are determined using the market standard methodology of netting the discounted future fixed cash receipts and the discounted expected variable cash payments. The variable cash payments are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. The Company incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of its derivative contracts for the effect of nonperformance risk, the Company has considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts, and guarantees. In conjunction with the FASB's Fair Value Measurement guidance, the Company made an accounting policy election to measure the credit risk of its derivative financial instruments that are subject to master netting agreements on a net basis by counterparty portfolio. Although the Company determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives also use Level 3 inputs, such as estimates of current credit spreads, to evaluate the likelihood of default by itself and its counterparties. As of March 31, 2018 , the Company assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and determined that the credit valuation adjustments are not significant to the overall valuation of its derivatives and therefore, classified its derivatives as Level 2 within the fair value reporting hierarchy. The table below presents the Company’s financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2018 and December 31, 2017 aggregated by the level in the fair value hierarchy within which those measurements are classified and by derivative type. Assets and Liabilities Measured at Fair Value on a Recurring Basis at March 31, 2018 and December 31, 2017 (Dollars in thousands) Description Quoted Prices in Active Markets for Identical Assets (Level I) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets (Liabilities) Balance at end of period March 31, 2018 Cross-Currency Swaps* $ — $ 968 $ — $ 968 Currency Forward Agreements* $ — $ 26,782 $ — $ 26,782 Interest Rate Swap Agreements* $ — $ 7,287 $ — $ 7,287 December 31, 2017 Cross-Currency Swaps* $ — $ 1,041 $ — $ 1,041 Cross-Currency Swaps** $ — $ (134 ) $ — $ (134 ) Currency Forward Agreements* $ — $ 22,235 $ — $ 22,235 Interest Rate Swap Agreements* $ — $ 2,496 $ — $ 2,496 *Included in "Other assets" in the accompanying consolidated balance sheets. **Included in "Accounts payable and accrued liabilities" in the accompanying consolidated balance sheets. Fair Value of Financial Instruments The following methods and assumptions were used by the Company to estimate the fair value of each class of financial instruments at March 31, 2018 and December 31, 2017 : Mortgage notes receivable and related accrued interest receivable: The fair value of the Company’s mortgage notes and related accrued interest receivable is estimated by discounting the future cash flows of each instrument using current market rates. At March 31, 2018 , the Company had a carrying value of $819.8 million in fixed rate mortgage notes receivable outstanding, including related accrued interest, with a weighted average interest rate of approximately 8.62% . The fixed rate mortgage notes bear interest at rates of 7.00% to 11.31% . Discounting the future cash flows for fixed rate mortgage notes receivable using rates of 7.50% to 11.50% , management estimates the fair value of the fixed rate mortgage notes receivable to be approximately $841.2 million with an estimated weighted average market rate of 9.16% at March 31, 2018 . At December 31, 2017 , the Company had a carrying value of $970.7 million in fixed rate mortgage notes receivable outstanding, including related accrued interest, with a weighted average interest rate of approximately 8.42% . The fixed rate mortgage notes bear interest at rates of 7.00% to 11.31% . Discounting the future cash flows for fixed rate mortgage notes receivable using rates of 7.00% to 11.50% , management estimates the fair value of the fixed rate mortgage notes receivable to be $992.6 million with an estimated weighted average market rate of 8.79% at December 31, 2017 . Investment in direct financing leases, net: At March 31, 2018 and December 31, 2017 , the Company had an investment in direct financing leases with a carrying value of $58.1 million and $57.9 million , respectively, and with a weighted average effective interest rate of 11.98% for both periods. At March 31, 2018 and December 31, 2017 , the investment in direct financing leases bear interest at effective rates of 11.90% to 12.38% . The carrying value of the investment in direct financing leases approximated the fair value at March 31, 2018 and December 31, 2017 . Derivative instruments: Derivative instruments are carried at their fair value. Debt instruments: The fair value of the Company's debt is estimated by discounting the future cash flows of each instrument using current market rates. At March 31, 2018 , the Company had a carrying value of $995.0 million in variable rate debt outstanding with a weighted average interest rate of approximately 2.75% . The carrying value of the variable rate debt outstanding approximated the fair value at March 31, 2018 . At December 31, 2017 , the Company had a carrying value of $635.0 million in variable rate debt outstanding with a weighted average interest rate of approximately 2.58% . The carrying value of the variable rate debt outstanding approximated the fair value at December 31, 2017 . At March 31, 2018 and December 31, 2017 , $350.0 million of the Company's variable rate debt, discussed above, had been effectively converted to a fixed rate through February 7, 2022 by interest rate swap agreements. At March 31, 2018 , the Company had a carrying value of $2.17 billion in fixed rate long-term debt outstanding with a weighted average interest rate of approximately 4.84% . Discounting the future cash flows for fixed rate debt using March 31, 2018 market rates of 2.79% to 4.84% , management estimates the fair value of the fixed rate debt to be approximately $2.19 billion with an estimated weighted average market rate of 4.47% at March 31, 2018 . At December 31, 2017 , the Company had a carrying value of $2.43 billion in fixed rate long-term debt outstanding with an average weighted interest rate of approximately 5.15% . Discounting the future cash flows for fixed rate debt using December 31, 2017 market rates of 2.49% to 4.56% , management estimates the fair value of the fixed rate debt to be approximately $2.53 billion with an estimated weighted average market rate of 4.04% at December 31, 2017 .

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table summarizes the Company’s computation of basic and diluted earnings per share (EPS) for the three months ended March 31, 2018 and 2017 (amounts in thousands except per share information): Three Months Ended March 31, 2018 Income (numerator) Shares (denominator) Per Share Amount Basic EPS: Net income $ 29,538 Less: preferred dividend requirements (6,036 ) Net income available to common shareholders $ 23,502 74,146 $ 0.32 Diluted EPS: Net income available to common shareholders $ 23,502 74,146 Effect of dilutive securities: Share options — 34 Net income available to common shareholders $ 23,502 74,180 $ 0.32 Three Months Ended March 31, 2017 Income Shares Per Share Basic EPS: Net income $ 53,916 Less: preferred dividend requirements (5,952 ) Net income available to common shareholders $ 47,964 64,033 $ 0.75 Diluted EPS: Net income available to common shareholders $ 47,964 64,033 Effect of dilutive securities: Share options — 69 Net income available to common shareholders $ 47,964 64,102 $ 0.75 The additional 2.1 million common shares that would result from the conversion of the Company’s 5.75% Series C cumulative convertible preferred shares and the additional 1.6 million common shares that would result from the conversion of the Company’s 9.0% Series E cumulative convertible preferred shares and the corresponding add-back of the preferred dividends declared on those shares are not included in the calculation of diluted earnings per share for the three months ended March 31, 2018 and 2017 , respectively, because the effect is anti-dilutive. The dilutive effect of potential common shares from the exercise of share options is included in diluted earnings per share for the three months ended March 31, 2018 and 2017 . However, options to purchase 87 thousand and 4 thousand common shares at per share prices ranging from $56.94 to $76.63 , were outstanding for the three months ended March 31, 2018 and 2017 , respectively, but were not included in the computation of diluted earnings per share because they were anti-dilutive.

Equity Incentive Plans

Equity Incentive Plans	3 Months Ended
	Mar. 31, 2018
Share-based Compensation [Abstract]
Equity Incentive Plans	Equity Incentive Plan All grants of common shares and options to purchase common shares were issued under the Company's 2007 Equity Incentive Plan prior to May 12, 2016 and under the 2016 Equity Incentive Plan on and after May 12, 2016. Under the 2016 Equity Incentive Plan, an aggregate of 1,950,000 common shares, options to purchase common shares and restricted share units, subject to adjustment in the event of certain capital events, may be granted. At March 31, 2018 , there were 1,332,842 shares available for grant under the 2016 Equity Incentive Plan. Share Options Share options granted under the 2007 Equity Incentive Plan and the 2016 Equity Incentive Plan have exercise prices equal to the fair market value of a common share at the date of grant. The options may be granted for any reasonable term, not to exceed 10 years, and for employees typically become exercisable at a rate of 25% per year over a four-year period. The Company generally issues new common shares upon option exercise. A summary of the Company’s share option activity and related information is as follows: Number of options Option price per share Weighted avg. exercise price Outstanding at December 31, 2017 257,606 $ 19.02 — $ 76.63 $ 51.81 Granted 3,835 56.94 — 56.94 56.94 Outstanding at March 31, 2018 261,441 $ 19.02 — $ 76.63 $ 51.88 The weighted average fair value of options granted was $3.03 and $7.91 during the three months ended March 31, 2018 and 2017 , respectively. There were no share option exercises during the three months ended March 31, 2018 . The intrinsic value of share options exercised was $0.4 million for the three months ended March 31, 2017 . At March 31, 2018 , share-option expense to be recognized in future periods was $0.2 million . The expense related to share options included in the determination of net income for the three months ended March 31, 2018 and 2017 was $0.1 million and $0.2 million , respectively. The following assumptions were used in applying the Black-Scholes option pricing model at the grant dates for the three months ended March 31, 2018 : risk-free interest rate of 2.7% , dividend yield of 7.6% , volatility factors in the expected market price of the Company’s common shares of 18.9% , 0.74% expected forfeiture rate and an expected life of approximately six years. The Company uses historical data to estimate the expected life of the option and the risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant. Additionally, expected volatility is computed based on the average historical volatility of the Company’s publicly traded shares. The following table summarizes outstanding options at March 31, 2018 : Exercise price range Options outstanding Weighted avg. life remaining Weighted avg. exercise price Aggregate intrinsic value (in thousands) $ 19.02 - 19.99 11,097 1.1 20.00 - 29.99 — — 30.00 - 39.99 1,428 1.8 40.00 - 49.99 86,041 3.8 50.00 - 59.99 79,774 5.8 60.00 - 69.99 80,886 6.9 70.00 - 76.63 2,215 8.9 261,441 5.3 $ 51.88 $ 1,489 The following table summarizes exercisable options at March 31, 2018 : Exercise price range Options outstanding Weighted avg. life remaining Weighted avg. exercise price Aggregate intrinsic value (in thousands) $ 19.02 - 19.99 11,097 1.1 20.00 - 29.99 — — 30.00 - 39.99 1,428 1.8 40.00 - 49.99 86,041 3.8 50.00 - 59.99 75,939 5.6 60.00 - 69.99 59,557 6.9 70.00 - 76.63 554 8.9 234,616 5.0 $ 50.73 $ 1,489 Nonvested Shares A summary of the Company’s nonvested share activity and related information is as follows: Number of shares Weighted avg. grant date fair value Weighted avg. life remaining Outstanding at December 31, 2017 620,122 $ 68.07 Granted 295,202 56.94 Vested (243,057 ) 65.34 Outstanding at March 31, 2018 672,267 $ 64.17 1.65 The holders of nonvested shares have voting rights and receive dividends from the date of grant. These shares vest ratably over a period of three to four years. The fair value of the nonvested shares that vested was $15.9 million and $15.0 million for the three months ended March 31, 2018 and 2017 , respectively. At March 31, 2018 , unamortized share-based compensation expense related to nonvested shares was $30.6 million . Restricted Share Units A summary of the Company’s restricted share unit activity and related information is as follows: Number of shares Weighted avg. grant date fair value Weighted avg. life remaining Outstanding at December 31, 2017 19,030 $ 70.91 Granted — — Vested — — Outstanding at March 31, 2018 19,030 $ 70.91 0.08 The holders of restricted share units receive dividend equivalents from the date of grant. The share units vest upon the earlier of the day preceding the next annual meeting of shareholders or a change of control. The settlement date for the shares is selected by the non-employee Trustee, and ranges from one year from the grant date to upon termination of service. At March 31, 2018 , unamortized share-based compensation expense related to restricted share units was $112 thousand .

Other Commitments And Contingen

Other Commitments And Contingencies	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Other Commitments And Contingencies	Other Commitments and Contingencies As of March 31, 2018 , the Company had an aggregate of approximately $143.5 million of commitments to fund development projects including 16 entertainment development projects for which it had commitments to fund approximately $45.0 million , three recreation development projects for which it had commitments to fund approximately $49.6 million and nine education development projects for which it had commitments to fund approximately $48.9 million . Development costs are advanced by the Company in periodic draws. If the Company determines that construction is not being completed in accordance with the terms of the development agreement, it can discontinue funding construction draws. The Company has agreed to lease the properties to the operators at pre-determined rates upon completion of construction. Additionally as of March 31, 2018 , the Company had a commitment to fund approximately $201.0 million over the next three years, of which $60.4 million had been funded, to complete an indoor waterpark hotel and adventure park at its casino and resort project in Sullivan County, New York. The Company is also responsible for the construction of the casino and resort project common infrastructure. In June 2016, the Sullivan County Infrastructure Local Development Corporation issued $110.0 million of Series 2016 Revenue Bonds which is expected to fund a substantial portion of such construction costs. The Company received reimbursements of $43.4 million and $23.9 million of construction costs during the years ended December 31, 2016 and 2017, respectively. During the three months ended March 31, 2018, the Company received an additional reimbursement of $6.9 million . Construction of infrastructure improvements is currently expected to be completed in the remainder of 2018. The Company has certain commitments related to its mortgage note investments that it may be required to fund in the future. The Company is generally obligated to fund these commitments at the request of the borrower or upon the occurrence of events outside of its direct control. As of March 31, 2018 , the Company had six mortgage notes receivable with commitments totaling approximately $19.4 million . If commitments are funded in the future, interest will be charged at rates consistent with the existing investments. The Company has provided guarantees of the payment of certain economic development revenue bonds totaling $24.7 million related to two theatres in Louisiana for which the Company earns a fee at an annual rate of 4.00% over the 30-year terms of the related bonds. The Company recorded $13.3 million as a deferred asset included in other assets and $13.3 million included in other liabilities in the accompanying consolidated balance sheet as of March 31, 2018 related to these guarantees. No amounts have been accrued as a loss contingency related to these guarantees because payment by the Company is not probable. In connection with construction of its development projects and related infrastructure, certain public agencies require posting of surety bonds to guarantee that the Company's obligations are satisfied. These bonds expire upon the completion of the improvements or infrastructure. As of March 31, 2018 , the Company had six surety bonds outstanding totaling $22.8 million . Resort Project in Sullivan County, New York Prior proposed casino and resort developers Concord Associates, L.P., Concord Resort, LLC and Concord Kiamesha LLC, which are affiliates of Louis Cappelli and from whom the Company acquired the Resorts World Catskills resort property (the Cappelli Group), commenced litigation against the Company beginning in 2011 regarding matters relating to the acquisition of that property and the Company's relationship with the Empire Resorts, Inc. and certain of its subsidiaries. This litigation involves three separate cases filed in state and federal court. Two of the cases, a state and the federal case, are closed and resulted in no liability by the Company. The remaining case was filed on October 20, 2011 by the Cappelli Group against the Company and two of its affiliates in the Supreme Court of the State of New York, County of Westchester (the Westchester Action), asserting a claim for breach of contract and the implied covenant of good faith, and seeking damages of at least $800 million , based on allegations that the Company had breached an agreement (the Casino Development Agreement), dated June 18, 2010. The Company moved to dismiss the complaint in the Westchester Action based on a decision issued by the Sullivan County Supreme Court ( one of the two closed cases referenced above) on June 30, 2014, as affirmed by the Appellate Division, Third Department (the Sullivan Action). On January 26, 2016, the Westchester County Supreme Court denied the Company's motion to dismiss but ordered the Cappelli Group to amend its pleading and remove all claims and allegations previously determined by the Sullivan Action. On February 18, 2016, the Cappelli Group filed an amended complaint asserting a single cause of action for breach of the covenant of good faith and fair dealing based upon allegations the Company had interfered with plaintiffs’ ability to obtain financing which complied with the Casino Development Agreement. On March 23, 2016, the Company filed a motion to dismiss the Cappelli Group’s revised amended complaint. On January 5, 2017, the Westchester County Supreme Court denied the Company’s second motion to dismiss. Discovery is ongoing. The Company has not determined that losses related to the remaining Westchester Action are probable. In light of the inherent difficulty of predicting the outcome of litigation generally, the Company does not have sufficient information to determine the amount or range of reasonably possible loss with respect to these matters. The Company’s assessments are based on estimates and assumptions that have been deemed reasonable by management, but that may prove to be incomplete or inaccurate, and unanticipated events and circumstances may occur that might cause the Company to change those estimates and assumptions. The Company intends to vigorously defend the claims asserted against the Company and certain of its subsidiaries by the Cappelli Group and its affiliates, for which the Company believes it has meritorious defenses, but there can be no assurances as to the outcome of the claims and related litigation. Early Childhood Education Tenant During 2017, cash flow of CLA was negatively impacted by challenges brought on by its rapid expansion and related ramp up to stabilization and by adverse weather conditions in Texas during the third quarter of 2017. As a result, CLA initiated negotiations with the Company and other landlords regarding a potential restructuring. However, CLA did not secure the investments necessary to accomplish the restructuring. As a result, the Company sent CLA notices of lease termination on October 12, 2017 for the following CLA properties: (i) Broomfield, Colorado, (ii) Ashburn, Virginia, (iii) West Chester, Ohio, (iv) Chanhassen, Minnesota, (v) Ellisville, Missouri, (vi) Farm Road-Las Vegas, Nevada, (vii) Fishers, Indiana, (viii) Tredyffrin, Pennsylvania, and (ix) Westerville, Ohio. On December 18, 2017, ten subsidiaries of CLA Parent filed separate voluntary petitions for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code with the United States Bankruptcy Court for the District of Arizona (Jointly Administered under Case No. 2:17-bk-14851-BMW). The CLA Debtors consist of CLA Properties SPE, LLC, CLA Maple Grove, LLC, CLA Carmel, LLC, CLA West Chester, LLC, CLA One Loudoun, LLC, LLC, CLA Fishers, LLC, CLA Chanhassen, LLC, CLA Ellisville, LLC, CLA Farm, LLC, and CLA Westerville, LLC. CLA Parent has not filed a petition for bankruptcy. The CLA Debtors include each of the Company's direct or indirect tenants on 24 out of the Company's 25 CLA properties, including 21 operating properties, two partially completed properties and one unimproved land parcel. The only CLA tenant unaffected by the bankruptcy is CLA King of Prussia, LLC, which is the CLA tenant entity for an unimproved land parcel located in Tredyffrin, Pennsylvania. It is the Company's understanding that the CLA Debtors filed bankruptcy petitions to stay the termination of the remaining CLA leases and delay the eviction process. CLA continues to seek negotiation of a restructuring with third parties. The Company will continue to consider whether all or a portion of the Company's properties should be leased to other operators based on results of the restructuring process. Absent an acceptable restructuring, the Company's intention is to vigorously pursue the process of regaining possession of the properties with the goal of securing leases with one or more new tenants. On January 8, 2018, the Company filed with the Court (i) motions seeking rent for the post-petition period beginning on December 18, 2017, and (ii) motions seeking relief from the automatic stay seeking the right to terminate the remaining leases and evict the CLA Debtors from the properties. On March 14, 2018, the CLA Parties and the Company entered into a Stipulation providing that (a) the CLA Parties will pay monthly rent for the months of March, April, May, June and July in the amounts of $750 thousand, $750 thousand, $750 thousand, $1.0 million and $1.0 million, respectively, (b) resolution of restructuring of the leases between the Company and the CLA Parties will be concluded no later than July 31, 2018 (the Forbearance Period), (c) relief from stay is granted with respect to the Company’s properties as needed to implement the Stipulation, (d) the parties will not commence or prosecute litigation against any other party during the Forbearance Period, and (e) the deadline for any motion by the CLA Debtors to assume or reject the leases under the U.S. Bankruptcy Code was extended to July 31, 2018. The CLA Parties have made each of the required rent payments since entering into the Stipulation. On May 7, 2018, the Court entered an order approving the Stipulation.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Segment Information	Segment Information The Company groups investments into four reportable operating segments: Entertainment, Recreation, Education and Other. The financial information summarized below is presented by reportable operating segment: Balance Sheet Data: As of March 31, 2018 Entertainment Recreation Education Other Corporate/Unallocated Consolidated Total Assets $ 2,388,438 $ 2,159,147 $ 1,425,133 $ 196,799 $ 69,349 $ 6,238,866 As of December 31, 2017 Entertainment Recreation Education Other Corporate/Unallocated Consolidated Total Assets $ 2,380,129 $ 2,102,041 $ 1,429,992 $ 199,052 $ 80,279 $ 6,191,493 Operating Data: Three Months Ended March 31, 2018 Entertainment Recreation Education Other Corporate/Unallocated Consolidated Rental revenue $ 70,862 $ 33,432 $ 22,380 $ 2,259 $ — $ 128,933 Tenant reimbursements 3,986 — 5 — — 3,991 Other income — 62 — — 568 630 Mortgage and other financing income 802 13,705 6,907 — — 21,414 Total revenue 75,650 47,199 29,292 2,259 568 154,968 Property operating expense 6,229 33 829 314 159 7,564 Total investment expenses 6,229 33 829 314 159 7,564 Net operating income - before unallocated items 69,421 47,166 28,463 1,945 409 147,404 Reconciliation to Consolidated Statements of Income: General and administrative expense (12,324 ) Costs associated with loan refinancing or payoff (31,943 ) Interest expense, net (34,337 ) Transaction costs (609 ) Depreciation and amortization (37,684 ) Equity in income from joint ventures 51 Income tax expense (1,020 ) Net income 29,538 Preferred dividend requirements (6,036 ) Net income available to common shareholders of EPR Properties $ 23,502 Operating Data: Three Months Ended March 31, 2017 Entertainment Recreation Education Other Corporate/Unallocated Consolidated Rental revenue $ 65,091 $ 17,299 $ 22,357 $ 2,290 $ — $ 107,037 Tenant reimbursements 3,749 — — — — 3,749 Other income 6 — — — 686 692 Mortgage and other financing income 1,179 7,906 8,549 — — 17,634 Total revenue 70,025 25,205 30,906 2,290 686 129,112 Property operating expense 5,835 28 — 340 147 6,350 Total investment expenses 5,835 28 — 340 147 6,350 Net operating income - before unallocated items 64,190 25,177 30,906 1,950 539 122,762 Reconciliation to Consolidated Statements of Income: General and administrative expense (11,057 ) Costs associated with loan refinancing or payoff (5 ) Interest expense, net (30,692 ) Transaction costs (57 ) Depreciation and amortization (28,077 ) Equity in loss from joint ventures (8 ) Gain on sale of real estate 2,004 Income tax expense (954 ) Net income 53,916 Preferred dividend requirements (5,952 ) Net income available to common shareholders of EPR Properties $ 47,964

Summary of Significant Accoun22

Summary of Significant Accounting Policies (Policy)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and revenues and expenses for the period. Actual results could differ significantly from those estimates. In addition, operating results for the three month period ended March 31, 2018 are not necessarily indicative of the results that may be expected for the year ending December 31, 2018 . The Company consolidates certain entities when it is deemed to be the primary beneficiary in a variable interest entity (VIE) in which it has a controlling financial interest in accordance with the consolidation guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC). The consolidated balance sheet as of December 31, 2017 has been derived from the audited consolidated balance sheet at that date but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. For further information, refer to the consolidated financial statements and footnotes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2017 filed with the Securities and Exchange Commission (SEC) on March 1, 2018.
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	Recently Adopted Accounting Pronouncements On January 1, 2018, the Company adopted Accounting Standards Update (ASU) No. 2016-18, Statement of Cash Flows , and certain reclassifications have been made to prior period balances to conform to current presentation in the consolidated statement of cash flows. Under ASU No. 2016-18, transfers to or from restricted cash which have been previously shown in the Company's operating activities section of the accompanying consolidated statement of cash flows are now required to be shown as part of the total change in cash and cash equivalents and restricted cash in the consolidated statements of cash flows. In addition, on January 1, 2018, the Company adopted ASU No. 2016-15, Classification of Certain Cash Receipts and Cash Payments. The ASU clarifies the treatment of several cash flow issues with the objective of reducing diversity in practice. The adoption of this ASU had no impact to the Company's financial position, results of operations or presentation in the consolidated statement of cash flows. On January 1, 2018, the Company adopted Accounting Standards Codification (ASC) 606, Revenue from Contracts with Customers (ASC 606) and ASC 610-20, Other Income: Gains and Losses from the Derecognition of Non-financial Assets (ASC 610-20) using a modified retrospective (cumulative effect) method of adoption. The core principal of ASC 606 is that an entity will recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers when it satisfies performance obligations. The Company’s primary source of revenue is from lease revenue (which is excluded from the revenue standard but will be impacted upon adoption of the lease standard in 2019 discussed in Impact of Recently Issued Accounting Standards) and mortgage and other financing income (which is not in scope of the revenue standard). ASC 610-20 provides guidance on how entities recognize sales to non-customers including presentation of gain or loss on a net basis in the consolidated statements of income. The Company has concluded that its property sales represent transactions with non-customers. The Company had two property sale transactions that occurred in 2017 in which the Company received an aggregate of $12.3 million in mortgage notes receivable as full consideration for the sales. The mortgage notes require interest only payments until maturity and the Company determined in 2017 that these transactions qualified as sales; however, the gain on each sale was deferred. Upon adoption of ASC 610-20 on January 1, 2018, the Company determined that these transactions did not qualify for de-recognition. Accordingly, the Company recorded an adjustment in the three months ended March 31, 2018 to reclassify these assets from mortgage notes receivable to rental properties on its consolidated balance sheet. All other sales of real estate were all cash transactions in which the purchaser obtained control of the property, therefore, there was no cumulative adjustment recognized to beginning retained earnings as a result of adopting ASC 610-20.
Operating Segments	Operating Segments The Company has four reportable operating segments: Entertainment, Recreation, Education and Other. See Note 14 for financial information related to these operating segments.
Rental Properties	Rental Properties Rental properties are carried at cost less accumulated depreciation. Costs incurred for the acquisition and development of the properties are capitalized. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, which generally are estimated to be 30 to 40 years for buildings and three to 25 years for furniture, fixtures and equipment and 10 to 20 years for site improvements. Tenant improvements, including allowances, are depreciated over the shorter of the base term of the lease or the estimated useful life and leasehold interests are depreciated over the useful life of the underlying ground lease. Expenditures for ordinary maintenance and repairs are charged to operations in the period incurred. Significant renovations and improvements that improve or extend the useful life of the asset are capitalized and depreciated over their estimated useful life. Management reviews a property for impairment whenever events or changes in circumstances indicate that the carrying value of a property may not be recoverable. The review of recoverability is based on an estimate of undiscounted future cash flows expected to result from its use and eventual disposition. If impairment exists due to the inability to recover the carrying value of the property, an impairment loss is recorded to the extent that the carrying value of the property exceeds its estimated fair value. The Company evaluates the held-for-sale classification of its real estate as of the end of each quarter. Assets that are classified as held for sale are recorded at the lower of their carrying amount or fair value less costs to sell. Assets are generally classified as held for sale once management has initiated an active program to market them for sale and it is probable the assets will be sold within one year. On occasion, the Company will receive unsolicited offers from third parties to buy individual Company properties. Under these circumstances, the Company will classify the properties as held for sale when a sales contract is executed with no contingencies and the prospective buyer has funds at risk to ensure performance.
Business Combinations and Other Purchase of Business Transactions, Policy [Policy Text Block]	Upon acquisition of real estate properties, the Company evaluates the acquisition to determine if it is a business combination or an asset acquisition. In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business . The update clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether acquisitions should be accounted for as business combinations or asset acquisitions. The standard is effective for annual reporting periods beginning after December 15, 2017, including interim periods within those fiscal years, with early application of the guidance permitted. The Company elected to early adopt ASU No. 2017-01 as of January 1, 2017. As a result, the Company expects that fewer of its real estate acquisitions will be accounted for as business combinations. Costs incurred for asset acquisitions and development properties, including transaction costs, are capitalized. For asset acquisitions, the Company allocates the purchase price and other related costs incurred to the acquired tangible assets and identified intangible assets and liabilities based on recent independent appraisals or methods similar to those used by independent appraisers and management judgment. Acquisition-related costs in connection with business combinations are expensed as incurred. Costs related to such transactions, as well as costs associated with terminated transactions, are included in the accompanying consolidated statements of income as transaction costs.
Deferred Charges, Policy [Policy Text Block]	Deferred Financing Costs Deferred financing costs are amortized over the terms of the related debt obligations or mortgage note receivable as applicable. Deferred financing costs of $28.6 million and $32.9 million as of March 31, 2018 and December 31, 2017 , respectively, are shown as a reduction of debt. The deferred financing costs related to the unsecured revolving credit facility are included in other assets.
Allowance For Doubtful Accounts	Allowance for Doubtful Accounts Accounts receivable is reduced by an allowance for amounts where collection is not probable. The Company’s accounts receivable balance is comprised primarily of rents and operating cost recoveries due from tenants as well as accrued rental rate increases to be received over the life of the existing leases. The Company regularly evaluates the adequacy of its allowance for doubtful accounts. The evaluation primarily consists of reviewing past due account balances and considering such factors as the credit quality of the Company’s tenants, historical trends of the tenant and/or other debtor, current economic conditions and changes in customer payment terms. Additionally, with respect to tenants in bankruptcy, the Company estimates the expected recovery through bankruptcy claims and increases the allowance for amounts deemed uncollectible. These estimates have a direct impact on the Company's net income.
Revenue Recognition	Revenue Recognition Rents that are fixed and determinable are recognized on a straight-line basis over the non-cancellable terms of the leases. Straight-line rental revenue is subject to an evaluation for collectability, and the Company records a provision for losses against rental revenues if collectability of these future rents is not reasonably assured. For the three months ended March 31, 2018 and 2017 , the Company recognized $1.9 million and $5.1 million , respectively, of straight-line rental revenue. Base rent escalation on leases that are dependent upon increases in the Consumer Price Index (CPI) is recognized when known. In addition, most of the Company's tenants are subject to additional rents if gross revenues of the properties exceed certain thresholds defined in the lease agreements (percentage rents). Percentage rents as well as participating interest for those mortgage agreements that contain similar such clauses are recognized at the time when specific triggering events occur as provided by the lease or mortgage agreements. Rental revenue included percentage rents of $1.3 million and $0.8 million for the three months ended March 31, 2018 and 2017 , respectively. Direct financing lease income is recognized on the effective interest method to produce a level yield on funds not yet recovered. Estimated unguaranteed residual values at the date of lease inception represent management's initial estimates of fair value of the leased assets at the expiration of the lease, not to exceed original cost. Significant assumptions used in estimating residual values include estimated net cash flows over the remaining lease term and expected future real estate values. The Company evaluates on an annual basis (or more frequently, if necessary) the collectability of its direct financing lease receivable and unguaranteed residual value to determine whether they are impaired. A direct financing lease receivable is considered to be impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the existing contractual terms. When a direct financing lease receivable is considered to be impaired, the amount of loss is calculated by comparing the recorded investment to the value determined by discounting the expected future cash flows at the direct financing lease receivable's effective interest rate or to the fair value of the underlying collateral, less costs to sell, if such receivable is collateralized.
Property Sales, Policy [Policy Text Block]	Property Sales Sales of real estate properties are recognized when a contract exists, collectability is probable and the purchaser has obtained control of the property. Gains on sales of properties are recognized in full in a partial sale of nonfinancial assets, to the extent control is not retained. Any noncontrolling interest retained by the seller would, accordingly, be measured at fair value. The Company evaluates each sale or disposal transaction to determine if it meets the criteria to qualify as discontinued operations. A discontinued operation is a component of an entity or group of components that have been disposed of or are classified as held for sale and represent a strategic shift that has or will have a major effect on the Company's operations and financial results. If the sale or disposal transaction does not meet the criteria, the operations and related gain or loss on sale is included in income from continuing operations.
Mortgage Notes And Other Notes Receivable	Mortgage Notes and Other Notes Receivable Mortgage notes and other notes receivable, including related accrued interest receivable, consist of loans originated by the Company and the related accrued and unpaid interest income as of the balance sheet date. Mortgage notes and other notes receivable are initially recorded at the amount advanced to the borrower. Interest income is recognized using the effective interest method based on the stated interest rate over the estimated life of the note. Premiums and discounts are amortized or accreted into income over the estimated life of the note using the effective interest method. The Company evaluates the collectability of both interest and principal of each of its loans to determine whether it is impaired. A loan is considered to be impaired when, based on current information and events, the Company determines that it is probable that it will be unable to collect all amounts due according to the existing contractual terms. An insignificant delay or shortfall in amounts of payments does not necessarily result in the loan being identified as impaired. When a loan is considered to be impaired, the amount of loss, if any, is calculated by comparing the recorded investment to the value determined by discounting the expected future cash flows at the loan’s effective interest rate or to the fair value of the Company’s interest in the underlying collateral, less costs to sell, if the loan is collateral dependent. For impaired loans, interest income is recognized on a cash basis, unless the Company determines based on the loan to estimated fair value ratio the loan should be on the cost recovery method, and any cash payments received would then be reflected as a reduction of principal. Interest income recognition is recommenced if and when the impaired loan becomes contractually current and performance is demonstrated to be resumed.
Concentrations Of Risk	Concentrations of Risk American Multi-Cinema, Inc. (AMC) was the lessee of a substantial portion ( 38% ) of the megaplex theatre rental properties held by the Company at March 31, 2018 . For the three months ended March 31, 2018 and 2017 , approximately $28.6 million or 18.4% and $29.2 million or 22.7% , respectively, of the Company's total revenues were derived from rental payments by AMC. These rental payments are from AMC under the leases, or from its parent, AMC Entertainment, Inc. (AMCE), as the guarantor of AMC’s obligations under the leases. AMCE is wholly owned by AMC Entertainment Holdings, Inc. (AMCEH). AMCEH is a publicly held company (NYSE: AMC) and its consolidated financial information is publicly available at www.sec.gov.
Share-Based Compensation	Share-Based Compensation Share-based compensation to employees of the Company is granted pursuant to the Company's Annual Incentive Program and Long-Term Incentive Plan and share-based compensation to non-employee Trustees of the Company is granted pursuant to the Company's Trustee compensation program. Prior to May 12, 2016, share-based compensation granted to employees and non-employee Trustees was issued under the 2007 Equity Incentive Plan. The 2016 Equity Incentive Plan was approved by shareholders at the May 11, 2016 annual shareholder meeting and this plan replaced the 2007 Equity Incentive Plan. Accordingly, all share-based compensation granted on or after May 12, 2016 has been issued under the 2016 Equity Incentive Plan. Share-based compensation expense consists of share option expense and amortization of nonvested share grants issued to employees, and amortization of share units issued to non-employee Trustees for payment of their annual retainers. Share-based compensation included in general and administrative expense in the accompanying consolidated statements of income totaled $3.8 million and $3.5 million for the three months ended March 31, 2018 and 2017 , respectively.
Share Options	Share Options Share options are granted to employees pursuant to the Long-Term Incentive Plan. The fair value of share options granted is estimated at the date of grant using the Black-Scholes option pricing model. Share options granted to employees vest over a period of four years and share option expense for these options is recognized on a straight-line basis over the vesting period. Expense recognized related to share options and included in general and administrative expense in the accompanying consolidated statements of income was $73 thousand and $194 thousand for the three months ended March 31, 2018 and 2017 , respectively.
Nonvested Shares Issued To Employees	Nonvested Shares Issued to Employees The Company grants nonvested shares to employees pursuant to both the Annual Incentive Program and the Long-Term Incentive Plan. The Company amortizes the expense related to the nonvested shares awarded to employees under the Long-Term Incentive Plan and the premium awarded under the nonvested share alternative of the Annual Incentive Program on a straight-line basis over the future vesting period ( three or four years). Expense recognized related to nonvested shares and included in general and administrative expense in the accompanying consolidated statements of income was $3.4 million and $3.0 million for the three months ended March 31, 2018 and 2017 , respectively.
Restricted Share Units Issued To Non-Employee Trustees	Restricted Share Units Issued to Non-Employee Trustees The Company issues restricted share units to non-employee Trustees for payment of their annual retainers under the Company's Trustee compensation program. The fair value of the share units granted was based on the share price at the date of grant. The share units vest upon the earlier of the day preceding the next annual meeting of shareholders or a change of control. The settlement date for the shares is selected by the non-employee Trustee, and ranges from one year from the grant date to upon termination of service. This expense is amortized by the Company on a straight-line basis over the year of service by the non-employee Trustees. Total expense recognized related to shares issued to non-employee Trustees was $337 thousand and $280 thousand for the three months ended March 31, 2018 and 2017 , respectively.
Derivative Instruments	Derivative Instruments In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities . The update amended existing guidance in order to better align a company's financial reporting for hedging activities with the economic objectives of those activities. It requires the Company to disclose the effect of its hedging activities on its consolidated statements of income and eliminated the periodic measurement and recognition of hedging ineffectiveness. The standard is effective for annual reporting periods beginning after December 15, 2018, including interim periods within those fiscal years, with early application of the guidance permitted. The Company elected to early adopt ASU No. 2017-12 as of October 1, 2017. Early adoption had no impact on the Company's financial position or results of operations. The Company has entered into certain derivative instruments to reduce exposure to fluctuations in foreign currency exchange rates and variable interest rates. The Company has established policies and procedures for risk assessment and the approval, reporting and monitoring of derivative financial instrument activities. These derivatives consist of foreign currency forward contracts, cross-currency swaps and interest rate swaps. The Company records all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Derivatives may also be designated as hedges of the foreign currency exposure of a net investment in a foreign operation. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. The Company may enter into derivative contracts that are intended to economically hedge certain of its risk, even though hedge accounting does not apply or the Company elects not to apply hedge accounting. The Company's policy is to measure the credit risk of its derivative financial instruments that are subject to master netting agreements on a net basis by counterparty portfolio.
New Accounting Pronouncements, Policy [Policy Text Block]	Impact of Recently Issued Accounting Standards In February 2016, the FASB issued ASU No. 2016-02, Leases , which amends existing accounting standards for lease accounting and is intended to improve financial reporting related to lease transactions. The ASU will require lessees to classify leases as either finance or operating leases based on certain criteria and to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. Lessor accounting will remain largely unchanged from current U.S. GAAP. The standard eliminates current real estate-specific provisions and changes the guidance on sale-leaseback transactions, and also will require new disclosures within the notes accompanying the consolidated financial statements. Although the Company is primarily a lessor, ASU No. 2016-02 will impact the Company’s consolidated financial statements and disclosures as it has certain operating land leases and other arrangements for which it is the lessee and will be required to recognize these arrangements on the consolidated financial statements. The Company has completed its initial inventory and evaluation of the land leases and expects that it will be required to recognize a right-of-use asset and a lease liability for the present value of the minimum lease payments. The Company is in the process of preparing the initial estimates of the amount of its right-of-use assets and lease liabilities. A substantial portion of the Company’s lease contracts (under which it is lessor) are triple-net leases, which require the tenants to make payments to third parties for operating expenses such as property taxes, insurance and common area maintenance costs associated with the properties. The Company currently does not include these payments made by the lessee to third parties in rental revenue or property operating expenses. As a result of applying the guidance in ASU No. 2016-02, the Company may be required to show certain payments made by its tenants on a gross basis in its consolidated statements of income. Although no impact to net income or cash flows is expected as a result of a gross presentation, it would have the impact of increasing both reported revenues and property operating expenses. The Company is continuing to evaluate the impact of this potential presentation. The ASU will become effective for the Company for interim and annual reporting periods in fiscal years beginning after December 15, 2018. The Company expects to adopt the new standard on its effective date. The standard offers a number of practical expedients for transition and certain expedients specific to lessees or lessors. Both lessees and lessors are permitted to make an election to apply a package of practical expedients available for implementation under the standard. The Company has concluded it will apply the package of practical expedients and certain other transition expedients. For transition, the Company intends to recognize all effects of transition in the beginning of the adoption reporting period on January 1, 2019. The Company will continue its implementation work in 2018 including enhancements to the Company’s internal control framework, accounting systems and related documentation surrounding its lease accounting processes and the preparation of any additional disclosures that will be required. In June 2016, the FASB issued ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments , which amends ASC Topic 326, Financial Instruments - Credit Losses. The ASU changes the methodology for measuring credit losses on financial instruments and timing of when such losses are recorded. The amendments in ASU No. 2016-13 require the Company to measure all expected credit losses based upon historical experience, current conditions and reasonable and supportable forecasts that affect the collectability of financial assets and eliminates the incurred losses methodology under current U.S. GAAP. ASU No. 2016-13 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2019. The Company is currently evaluating the impact that the ASU will have on its consolidated financial statements and related disclosures.

Rental Properties (Tables)

Rental Properties (Tables)	3 Months Ended
	Mar. 31, 2018
Real Estate [Abstract]
Summary Of Carrying Amounts Of Rental Properties	The following table summarizes the carrying amounts of rental properties as of March 31, 2018 and December 31, 2017 (in thousands): March 31, 2018 December 31, 2017 Buildings and improvements $ 4,327,847 $ 4,123,356 Furniture, fixtures & equipment 89,506 87,630 Land 1,148,414 1,108,805 Leasehold interests 25,774 25,774 5,591,541 5,345,565 Accumulated depreciation (776,404 ) (741,334 ) Total $ 4,815,137 $ 4,604,231

Accounts Receivable, Net (Table

Accounts Receivable, Net (Tables)	3 Months Ended
	Mar. 31, 2018
Accounts Receivable, Net [Abstract]
Schedule Of Accounts Receivable	The following table summarizes the carrying amounts of accounts receivable, net as of March 31, 2018 and December 31, 2017 (in thousands): March 31, December 31, Receivable from tenants $ 16,642 $ 19,923 Receivable from non-tenants 3,919 3,932 Receivable from Sullivan County Infrastructure Revenue Bonds 11,423 14,718 Straight-line rent receivable 65,203 62,605 Allowance for doubtful accounts (8,437 ) (7,485 ) Total $ 88,750 $ 93,693 The above totals include receivables from tenants of approximately $6.7 million and $6.0 million from Children's Learning Adventure USA (CLA Parent and collectively with its subsidiaries, CLA), which were fully reserved in the allowance for doubtful accounts at March 31, 2018 and December 31, 2017, respectively. See Note 13 for further discussion related to CLA. The Company had approximately $253.6 million related to CLA classified in rental properties, net, in the accompanying consolidated balance sheets at March 31, 2018. Additionally, the Company had approximately $11.2 million classified in land held for development and $14.7 million classified in property under development related to CLA in the accompanying consolidated balance sheets at March 31, 2018. The Company reviewed these balances for impairment at March 31, 2018 and determined that the estimated undiscounted future cash flows exceeded the carrying value of these properties.

Investments In Direct Financi25

Investments In Direct Financing Lease (Tables)	3 Months Ended
	Mar. 31, 2018
Capital Leases, Net Investment in Direct Financing Leases [Abstract]
Summary Of Carrying Amounts Of Investments In Direct Financing Leases, Net	The following table summarizes the carrying amounts of investment in direct financing leases, net as of March 31, 2018 and December 31, 2017 (in thousands): March 31, 2018 December 31, 2017 Total minimum lease payments receivable $ 110,852 $ 112,411 Estimated unguaranteed residual value of leased assets 47,000 47,000 Less deferred income (1) (99,751 ) (101,508 ) Investment in direct financing leases, net $ 58,101 $ 57,903 (1) Deferred income is net of $0.8 million of initial direct costs at March 31, 2018 and December 31, 2017 .

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2018
Summary of Derivative Instruments [Abstract]
Summary Of The Effect Of Derivative Instruments On The Consolidated Statements Of Changes In Equity And Income	Below is a summary of the effect of derivative instruments on the consolidated statements of changes in equity and income for the three months ended March 31, 2018 and 2017 . Effect of Derivative Instruments on the Consolidated Statements of Changes in Equity and Income for the Three Months Ended March 31, 2018 and 2017 (Dollars in thousands) Three Months Ended March 31, Description 2018 2017 Interest Rate Swaps Amount of Gain Recognized in AOCI on Derivative $ 4,778 $ 504 Amount of Expense Reclassified from AOCI into Earnings (1) (13 ) (1,071 ) Cross-Currency Swaps Amount of Gain (Loss) Recognized in AOCI on Derivative 615 (166 ) Amount of Income Reclassified from AOCI into Earnings (2) 554 662 Currency Forward Agreements Amount of Gain (Loss) Recognized in AOCI on Derivative 4,546 (1,549 ) Amount of Income Reclassified from AOCI into Earnings — — Total Amount of Gain (Loss) Recognized in AOCI on Derivatives $ 9,939 $ (1,211 ) Amount of Income (Expense) Reclassified from AOCI into Earnings 541 (409 ) Interest expense, net in accompanying consolidated statements of income 34,337 30,692 Other income in accompanying consolidated statements of income 630 692 (1) Included in "Interest expense, net" in the accompanying consolidated statements of income for the three months ended March 31, 2018 and 2017 . (2) Included in "Other income" in the accompanying consolidated statements of income for the three months ended March 31, 2018 and 2017 .

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Assets Measured At Fair Value On A Recurring Basis	The table below presents the Company’s financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2018 and December 31, 2017 aggregated by the level in the fair value hierarchy within which those measurements are classified and by derivative type. Assets and Liabilities Measured at Fair Value on a Recurring Basis at March 31, 2018 and December 31, 2017 (Dollars in thousands) Description Quoted Prices in Active Markets for Identical Assets (Level I) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets (Liabilities) Balance at end of period March 31, 2018 Cross-Currency Swaps* $ — $ 968 $ — $ 968 Currency Forward Agreements* $ — $ 26,782 $ — $ 26,782 Interest Rate Swap Agreements* $ — $ 7,287 $ — $ 7,287 December 31, 2017 Cross-Currency Swaps* $ — $ 1,041 $ — $ 1,041 Cross-Currency Swaps** $ — $ (134 ) $ — $ (134 ) Currency Forward Agreements* $ — $ 22,235 $ — $ 22,235 Interest Rate Swap Agreements* $ — $ 2,496 $ — $ 2,496 *Included in "Other assets" in the accompanying consolidated balance sheets. **Included in "Accounts payable and accrued liabilities" in the accompanying consolidated balance sheets.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Computation Of Basic And Diluted Earnings Per Share	The following table summarizes the Company’s computation of basic and diluted earnings per share (EPS) for the three months ended March 31, 2018 and 2017 (amounts in thousands except per share information): Three Months Ended March 31, 2018 Income (numerator) Shares (denominator) Per Share Amount Basic EPS: Net income $ 29,538 Less: preferred dividend requirements (6,036 ) Net income available to common shareholders $ 23,502 74,146 $ 0.32 Diluted EPS: Net income available to common shareholders $ 23,502 74,146 Effect of dilutive securities: Share options — 34 Net income available to common shareholders $ 23,502 74,180 $ 0.32 Three Months Ended March 31, 2017 Income Shares Per Share Basic EPS: Net income $ 53,916 Less: preferred dividend requirements (5,952 ) Net income available to common shareholders $ 47,964 64,033 $ 0.75 Diluted EPS: Net income available to common shareholders $ 47,964 64,033 Effect of dilutive securities: Share options — 69 Net income available to common shareholders $ 47,964 64,102 $ 0.75

Equity Incentive Plans (Tables)

Equity Incentive Plans (Tables)	3 Months Ended
	Mar. 31, 2018
Share-based Compensation [Abstract]
Summary Of Share Option Activity	A summary of the Company’s share option activity and related information is as follows: Number of options Option price per share Weighted avg. exercise price Outstanding at December 31, 2017 257,606 $ 19.02 — $ 76.63 $ 51.81 Granted 3,835 56.94 — 56.94 56.94 Outstanding at March 31, 2018 261,441 $ 19.02 — $ 76.63 $ 51.88
Summary Of Outstanding Options	The following table summarizes outstanding options at March 31, 2018 : Exercise price range Options outstanding Weighted avg. life remaining Weighted avg. exercise price Aggregate intrinsic value (in thousands) $ 19.02 - 19.99 11,097 1.1 20.00 - 29.99 — — 30.00 - 39.99 1,428 1.8 40.00 - 49.99 86,041 3.8 50.00 - 59.99 79,774 5.8 60.00 - 69.99 80,886 6.9 70.00 - 76.63 2,215 8.9 261,441 5.3 $ 51.88 $ 1,489
Summary Of Exercisable Options	The following table summarizes exercisable options at March 31, 2018 : Exercise price range Options outstanding Weighted avg. life remaining Weighted avg. exercise price Aggregate intrinsic value (in thousands) $ 19.02 - 19.99 11,097 1.1 20.00 - 29.99 — — 30.00 - 39.99 1,428 1.8 40.00 - 49.99 86,041 3.8 50.00 - 59.99 75,939 5.6 60.00 - 69.99 59,557 6.9 70.00 - 76.63 554 8.9 234,616 5.0 $ 50.73 $ 1,489
Summary Of Nonvested Share Activity	A summary of the Company’s nonvested share activity and related information is as follows: Number of shares Weighted avg. grant date fair value Weighted avg. life remaining Outstanding at December 31, 2017 620,122 $ 68.07 Granted 295,202 56.94 Vested (243,057 ) 65.34 Outstanding at March 31, 2018 672,267 $ 64.17 1.65
Summary Of Restricted Share Unit Activity	A summary of the Company’s restricted share unit activity and related information is as follows: Number of shares Weighted avg. grant date fair value Weighted avg. life remaining Outstanding at December 31, 2017 19,030 $ 70.91 Granted — — Vested — — Outstanding at March 31, 2018 19,030 $ 70.91 0.08

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Schedule of Reportable Operating Segments	Segment Information The Company groups investments into four reportable operating segments: Entertainment, Recreation, Education and Other. The financial information summarized below is presented by reportable operating segment: Balance Sheet Data: As of March 31, 2018 Entertainment Recreation Education Other Corporate/Unallocated Consolidated Total Assets $ 2,388,438 $ 2,159,147 $ 1,425,133 $ 196,799 $ 69,349 $ 6,238,866 As of December 31, 2017 Entertainment Recreation Education Other Corporate/Unallocated Consolidated Total Assets $ 2,380,129 $ 2,102,041 $ 1,429,992 $ 199,052 $ 80,279 $ 6,191,493 Operating Data: Three Months Ended March 31, 2018 Entertainment Recreation Education Other Corporate/Unallocated Consolidated Rental revenue $ 70,862 $ 33,432 $ 22,380 $ 2,259 $ — $ 128,933 Tenant reimbursements 3,986 — 5 — — 3,991 Other income — 62 — — 568 630 Mortgage and other financing income 802 13,705 6,907 — — 21,414 Total revenue 75,650 47,199 29,292 2,259 568 154,968 Property operating expense 6,229 33 829 314 159 7,564 Total investment expenses 6,229 33 829 314 159 7,564 Net operating income - before unallocated items 69,421 47,166 28,463 1,945 409 147,404 Reconciliation to Consolidated Statements of Income: General and administrative expense (12,324 ) Costs associated with loan refinancing or payoff (31,943 ) Interest expense, net (34,337 ) Transaction costs (609 ) Depreciation and amortization (37,684 ) Equity in income from joint ventures 51 Income tax expense (1,020 ) Net income 29,538 Preferred dividend requirements (6,036 ) Net income available to common shareholders of EPR Properties $ 23,502 Operating Data: Three Months Ended March 31, 2017 Entertainment Recreation Education Other Corporate/Unallocated Consolidated Rental revenue $ 65,091 $ 17,299 $ 22,357 $ 2,290 $ — $ 107,037 Tenant reimbursements 3,749 — — — — 3,749 Other income 6 — — — 686 692 Mortgage and other financing income 1,179 7,906 8,549 — — 17,634 Total revenue 70,025 25,205 30,906 2,290 686 129,112 Property operating expense 5,835 28 — 340 147 6,350 Total investment expenses 5,835 28 — 340 147 6,350 Net operating income - before unallocated items 64,190 25,177 30,906 1,950 539 122,762 Reconciliation to Consolidated Statements of Income: General and administrative expense (11,057 ) Costs associated with loan refinancing or payoff (5 ) Interest expense, net (30,692 ) Transaction costs (57 ) Depreciation and amortization (28,077 ) Equity in loss from joint ventures (8 ) Gain on sale of real estate 2,004 Income tax expense (954 ) Net income 53,916 Preferred dividend requirements (5,952 ) Net income available to common shareholders of EPR Properties $ 47,964

Summary of Significant Accoun31

Summary of Significant Accounting Policies (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2018USD ($)segment	Mar. 31, 2017USD ($)	Dec. 31, 2017USD ($)properties
Operating Segments
Number of Reportable Operating Segments | segment	4
Revenue Recognition [Abstract]
Straight Line Rent	$ 1,900	$ 5,100
Percentage rents	1,300	800
Concentrations of Risk [Abstract]
Rental revenue	128,933	107,037
Share-based Compensation [Abstract]
Share based compensation	$ 3,791	3,458
Share based compensation, future vesting period minimum (in years)	4 years
Range of settlement date for shares for non-employee trustee from grant date, minimum (in years)	1 year
Share based compensation expense related to employees and trustees	$ 200
Deferred Costs	$ 28,600		$ 32,900
American Multi-Cinema, Inc. [Member]
Concentrations of Risk [Abstract]
Percent of megaplex theatre rental leased by AMC	38.00%
Rental revenue	$ 28,600	$ 29,200
Percentage of lease revenue in total revenue	18.40%	22.70%
Minimum [Member]
Share-based Compensation [Abstract]
Share based compensation, future vesting period minimum (in years)	3 years
Maximum [Member]
Share-based Compensation [Abstract]
Share based compensation, future vesting period minimum (in years)	4 years
Building [Member] | Minimum [Member]
Rental Properties [Abstract]
Estimated useful live of buildings (in years)	30 years
Building [Member] | Maximum [Member]
Rental Properties [Abstract]
Estimated useful live of buildings (in years)	40 years
Furniture, fixtures & equipment [Member] | Minimum [Member]
Rental Properties [Abstract]
Estimated useful live of buildings (in years)	3 years
Furniture, fixtures & equipment [Member] | Maximum [Member]
Rental Properties [Abstract]
Estimated useful live of buildings (in years)	25 years
Building Improvements [Member] | Minimum [Member]
Rental Properties [Abstract]
Estimated useful live of buildings (in years)	10 years
Building Improvements [Member] | Maximum [Member]
Rental Properties [Abstract]
Estimated useful live of buildings (in years)	20 years
Share Options [Member]
Share-based Compensation [Abstract]
Share based compensation, future vesting period minimum (in years)	4 years
Stock-option expense	$ 73	$ 194
Restricted Stock [Member]
Share-based Compensation [Abstract]
Share based compensation expense related to employees and trustees	$ 3,400	3,000
Restricted Stock [Member] | Minimum [Member]
Share-based Compensation [Abstract]
Share based compensation, future vesting period minimum (in years)	3 years
Restricted Stock [Member] | Maximum [Member]
Share-based Compensation [Abstract]
Share based compensation, future vesting period minimum (in years)	4 years
Restricted Share Units [Member]
Share-based Compensation [Abstract]
Range of settlement date for shares for non-employee trustee from grant date, minimum (in years)	1 year
Restricted Share Units [Member] | Non-Employee Trustees [Member]
Share-based Compensation [Abstract]
Share based compensation expense related to employees and trustees	$ 337	280
Education Reportable Operating Segment [Member]
Concentrations of Risk [Abstract]
Rental revenue	$ 22,380	$ 22,357
Education Reportable Operating Segment [Member] | Education Property Member
number of properties sold | properties			2
Share-based Compensation [Abstract]
Mortgage Note Receivable from Property Sale			$ 12,300

Rental Properties (Summary Of C

Rental Properties (Summary Of Carrying Amounts Of Rental Properties) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Real Estate Properties [Line Items]
Carrying amounts of rental properties	$ 5,591,541		$ 5,345,565
Accumulated depreciation	(776,404)		(741,334)
Total	4,815,137		4,604,231
Depreciation expense on rental properties	36,500	$ 27,300
Building and improvements [Member]
Real Estate Properties [Line Items]
Carrying amounts of rental properties	4,327,847		4,123,356
Furniture, fixtures & equipment [Member]
Real Estate Properties [Line Items]
Carrying amounts of rental properties	89,506		87,630
Land [Member]
Real Estate Properties [Line Items]
Carrying amounts of rental properties	1,148,414		1,108,805
Leaseholds and Leasehold Improvements [Member]
Real Estate Properties [Line Items]
Carrying amounts of rental properties	$ 25,774		$ 25,774

Investments and Dispositions (D

Investments and Dispositions (Details) $ in Thousands	May 07, 2018USD ($)	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)	May 08, 2018USD ($)	Jan. 02, 2018properties	Dec. 31, 2017USD ($)
Real Estate Properties [Line Items]
Payments to Acquire Productive Assets		$ 108,600
Payments to Acquire Mortgage Notes Receivable		16,223	$ 67,057
Proceeds from mortgage note receivable paydown		11,555	$ 8,140
Mortgage notes and related accrued interest receivable		819,837				$ 970,749
Number of Properties Securing Mortgage Note | properties					1
Entertainment Reportable Operating Segment [Member]
Real Estate Properties [Line Items]
Payments to Acquire Productive Assets		25,500
Entertainment Reportable Operating Segment [Member] | Theatre Properties [Member]
Real Estate Properties [Line Items]
Payments to Acquire Productive Assets		$ 7,500
Education Reportable Operating Segment [Member]
Real Estate Properties [Line Items]
Proceeds from Conversion of Mortgage Note		142,900,000
Number of Properties Securing Mortgage Note Converted to Rental Properties		28
Lessor, Operating Lease, Term of Contract		23 years
Payments to Acquire Productive Assets		$ 21,100
Proceeds from mortgage note receivable paydown		$ 9,000
Number of Properties Securing Mortgage Note		1
Education Reportable Operating Segment [Member] | early childhood education center [Member]
Real Estate Properties [Line Items]
Number of properties acquired (in properties)		2
Payments to Acquire Productive Assets		$ 8,400
Proceeds from mortgage note receivable paydown		$ 1,500
Number of Properties Securing Mortgage Note		1
Recreation Reportable Operating Segment [Member]
Real Estate Properties [Line Items]
Payments to Acquire Productive Assets		$ 62,000
Recreation Reportable Operating Segment [Member] | fitness center [Member] [Domain]
Real Estate Properties [Line Items]
Payments to Acquire Productive Assets		7,800
Payments to Acquire Mortgage Notes Receivable		$ 10,300
Number of Properties Securing Mortgage Note		1
Mortgage Note, 8.50%, due April 6, 2022 [Member] | Recreation Reportable Operating Segment [Member] | Ski Resorts [Member]
Real Estate Properties [Line Items]
Mortgage notes and related accrued interest receivable		$ 249,200
Mortgage Note, 8.50%, due April 6, 2022 [Member] | Subsequent Event [Member] | Recreation Reportable Operating Segment [Member] | Ski Resorts [Member]
Real Estate Properties [Line Items]
Proceeds from Maturities, Prepayments and Calls of Securities, Operating Activities	$ 45,000
Mortgage notes and related accrued interest receivable				$ 73,800
Mortgage Loans on Real Estate, Collections of Principal	$ 175,400

Accounts Receivable, Net (Sched

Accounts Receivable, Net (Schedule Of Accounts Receivable) (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Development in Process	$ 249,931	$ 257,629
Revenue Bond Receivable	11,423	14,718
Straight-line rent receivable	65,203	62,605
Allowance for doubtful accounts	(8,437)	(7,485)
Total	88,750	93,693
Rental properties, net of accumulated depreciation of $776,404 and $741,334 at March 31, 2018 and December 31, 2017, respectively	4,815,137	4,604,231
Land Available for Development	33,693	33,692
Tenants [Member]
Carrying amounts of accounts receivable	16,642	19,923
Non-Tenants [Member]
Carrying amounts of accounts receivable	3,919	3,932
early childhood education center [Member] | Tenants [Member]
Development in Process	14,700
Total	6,700	$ 6,000
Rental properties, net of accumulated depreciation of $776,404 and $741,334 at March 31, 2018 and December 31, 2017, respectively	253,600
Land Available for Development	$ 11,200

Investments In Direct Financi35

Investments In Direct Financing Lease (Narrative) (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2018USD ($)properties	Dec. 31, 2017USD ($)properties
Investment in a direct financing lease, net	$ 58,101,000	$ 57,903,000
Capital Leases, Net Investment in Direct Financing Leases, Initial Direct Costs	800,000	800,000
Allowance for lease losses	$ 0
Future Minimum Rentals Receivable	The Company’s direct financing leases have expiration dates ranging from approximately 14 to 16 years. Future minimum rentals receivable on these direct financing leases at March 31, 2018 are as follows (in thousands): Amount Year: 2018 $ 4,742 2019 6,490 2020 6,685 2021 6,885 2022 7,092 Thereafter 78,958 Total $ 110,852
Imagine Schools Member
Asset Impairment Charges		$ 9,600,000
Number of public charter school properties (in properties) | properties	6	6
Allowance for lease losses		$ 7,300,000
Tangible Asset Impairment Charges		2,300,000
Imagine Madison Avenue [Member] | Imagine Schools Member
Tangible Asset Impairment Charges		$ 600,000

Investments In Direct Financi36

Investments In Direct Financing Lease (Summary Of Carrying Amounts Of Investment In Direct Financing Lease, Net) (Details) $ in Thousands		3 Months Ended
		Mar. 31, 2018USD ($)years	Dec. 31, 2017USD ($)
Total minimum lease payments receivable		$ 110,852	$ 112,411
Estimated unguaranteed residual value of leased assets		47,000	47,000
Less deferred income	[1]	(99,751)	(101,508)
Investment in a direct financing lease, net		58,101	57,903
Capital Leases, Net Investment in Direct Financing Leases, Initial Direct Costs		$ 800	$ 800
Minimum [Member]
Length of lease (in years) | years		14
Maximum [Member]
Length of lease (in years) | years		16
[1]	Deferred income is net of $0.8 million of initial direct costs at March 31, 2018 and December 31, 2017.

Investments In Direct Financi37

Investments In Direct Financing Lease (Future Minimum Rentals Receivable) (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Capital Leases, Net Investment in Direct Financing Leases [Abstract]
2,018	$ 4,742
2,019	6,490
2,020	6,685
2,021	6,885
2,022	7,092
Thereafter	78,958
Total	$ 110,852	$ 112,411

Debt and Capital Markets (Sched

Debt and Capital Markets (Schedule of Long-term Debt Instruments) (Details) $ in Thousands	Jan. 02, 2018USD ($)properties	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)	Apr. 16, 2018USD ($)	Feb. 28, 2018	May 23, 2017USD ($)
Debt Instrument [Line Items]
Extinguishment of Debt, Amount	$ 11,700
Debt Instrument, Interest Rate, Stated Percentage	6.19%
Number of Properties Securing Mortgage Note | properties	1
Costs associated with loan refinancing or payoff		$ 31,943	$ 5
Senoir Unsecured Notes Payable, 7.75 Percent, Due July 15, 2020 [Member] | Unsecured Debt [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount						$ 250,000
Debt Instrument, Unamortized Premium		28,600
Debt Instrument, Increase, Accrued Interest		2,300
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate					7.75%
Costs associated with loan refinancing or payoff		$ 3,300
Senior Unsecured Notes Payable, 4.95 Percent, Due April 15, 2028 [Member] | Unsecured Debt [Member]
Debt Instrument [Line Items]
Debt Covenant, Debt to Adjusted Total Assets Ratio, Maximum		0.60
Debt Covenant, Secured Debt to Adjusted Total Assets Ratio, Maximum		0.40
Debt Covenant, Debt Service Coverage Ratio, Minimum		1.5
Debt Covenant, Total Unencumbered Assets to Outstanding Unsecured Debt Ratio, Minimum		150.00%
Subsequent Event [Member] | Senior Unsecured Notes Payable, 4.95 Percent, Due April 15, 2028 [Member] | Unsecured Debt [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount				$ 400,000
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate				4.95%
Senior Unsecured Notes Payable, Percent of Principal Amount Issued				0.98883

Variable Interest Entities (Nar

Variable Interest Entities (Narrative) (Details) $ in Millions	Mar. 31, 2018USD ($)
Variable Interest Entity, Consolidated, Carrying Amount, Assets	$ 23.3
Variable Interest entity, number of entities	2
Investment in unconsolidated VIE	$ 180.4
Unconsolidated investment maximum exposure to loss	$ 180.4
SVVI [Member]
Number of properties securing unconsolidated variable interest entity	3
Education Property Member | Education Reportable Operating Segment [Member]
Number of properties securing unconsolidated variable interest entity	1

Derivative Instruments (Narrati

Derivative Instruments (Narrative) (Details) $ in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)swap_agreementsproperties$ / $	Mar. 31, 2018CAD ($)$ / $	Dec. 31, 2017USD ($)
Derivative Liability, Fair Value, Gross Liability			$ 0.1
Derivative Asset, Fair Value, Gross Asset	$ 35		$ 25.8
Cash Flow Hedging [Member]
Estimated amount to be reclassified from accumulated other comprehensive income to other expense in the next twelve months	0.8
Interest Rate Risk [Member]
Estimated amount to be reclassified from accumulated other comprehensive income to other expense in the next twelve months	$ 1.8
Cross Currency Swaps [Member]
Net exchange rate, CAD to US dollar | $ / $	1.05	1.05
Cross Currency Swaps 2018 [Member]
Derivative, Notional Amount	$ 98.1	$ 100
Description of Foreign Currency Exposure	13.5
Cross Currency Swaps 2020 [Member]
Derivative, Notional Amount	$ 79.5	$ 100
Net exchange rate, CAD to US dollar | $ / $	1.26	1.26
Description of Foreign Currency Exposure	13.5
Currency Forward Agreements [Member] | Net Investment Hedging [Member]
Number of Canadian properties exposed to foreign currency exchange risk (in properties) | properties	4
Derivative, Notional Amount	$ 94.3	$ 100
Net exchange rate, CAD to US dollar | $ / $	1.06	1.06
Currency Forward Agreements 2018 [Member] | Net Investment Hedging [Member]
Derivative, Notional Amount		$ 88.1
Net exchange rate, CAD to US dollar | $ / $	1.13	1.13
Minimum [Member]
credit risk related contingent features default on debt amount	$ 25
Maximum [Member]
credit risk related contingent features default on debt amount	$ 50
interest rate swap 2.64percent [Member] [Member] | Interest Rate Swap [Member]
Number of entered into interest rate swap agreements (in interest rate swaps) | swap_agreements	2
Derivative fixed interest rate	2.64%	2.64%
interest rate swap 2.64percent [Member] [Member] | Maximum [Member] | Interest Rate Swap [Member]
Derivative, Notional Amount	$ 300
interest rate swap 3.15percent [Member] | Interest Rate Swap [Member]
Number of entered into interest rate swap agreements (in interest rate swaps) | swap_agreements	3
Derivative fixed interest rate	3.15%	3.15%
interest rate swap 3.15percent [Member] | Minimum [Member] | Interest Rate Swap [Member]
Derivative, Notional Amount	$ 50
interest rate swap 3.15percent [Member] | Maximum [Member] | Interest Rate Swap [Member]
Derivative, Notional Amount	$ 350

Derivative Instruments (Summary

Derivative Instruments (Summary Of The Effect Of Derivative Instruments On The Consolidated Statements Of Changes In Equity And Income) (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Amount of Gain (Loss) Recognized in AOCI on Derivative (Effective Portion)		$ 9,939	$ (1,211)
Amount of Income (Expense) Reclassified from AOCI into Earnings (Effective Portion)		541	(409)
Interest Expense		34,337	30,692
Other Income		630	692
Interest Rate Swap [Member]
Amount of Income (Expense) Reclassified from AOCI into Earnings (Effective Portion)	[1]	(13)	(1,071)
Cross Currency Swaps [Member]
Amount of Gain (Loss) Recognized in AOCI on Derivative (Effective Portion)		615	(166)
Amount of Income (Expense) Reclassified from AOCI into Earnings (Effective Portion)	[2]	554	662
Currency Forward Agreements [Member]
Amount of Gain (Loss) Recognized in AOCI on Derivative (Effective Portion)		4,546	(1,549)
Amount of Income (Expense) Reclassified from AOCI into Earnings (Effective Portion)		0	0
Interest Expense [Member] | Interest Rate Swap [Member]
Amount of Gain (Loss) Recognized in AOCI on Derivative (Effective Portion)		$ 4,778	$ 504
[1]	(1)Included in "Interest expense, net" in the accompanying consolidated statements of income for the three months ended March 31, 2018 and 2017.
[2]	Included in "Other income" in the accompanying consolidated statements of income for the three months ended March 31, 2018 and 2017.

Fair Value Disclosures (Assets

Fair Value Disclosures (Assets and Liabilities Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Thousands		Mar. 31, 2018	Dec. 31, 2017
Derivative Liability, Fair Value, Gross Liability			$ 100
Derivative Asset, Fair Value, Gross Asset		$ 35,000	25,800
Fair Value, Measurements, Recurring [Member] | Cross Currency Swaps [Member]
Derivative Asset, Fair Value, Gross Asset	[1]	968	1,041
Fair Value, Measurements, Recurring [Member] | Cross Currency Swaps [Member] | Fair Value, Inputs, Level 2 [Member]
Derivative Liability, Fair Value, Gross Liability	[1]		(134)
Derivative Asset, Fair Value, Gross Asset	[1]	968	1,041
Fair Value, Measurements, Recurring [Member] | Currency Forward Agreements [Member]
Derivative Asset, Fair Value, Gross Asset	[1]	26,782	22,235
Fair Value, Measurements, Recurring [Member] | Currency Forward Agreements [Member] | Fair Value, Inputs, Level 2 [Member]
Derivative Asset, Fair Value, Gross Asset	[1]	26,782	22,235
Fair Value, Measurements, Recurring [Member] | Interest Rate Swap [Member]
Derivative Liability, Fair Value, Gross Liability		(7,287)	(2,496)	[2]
Fair Value, Measurements, Recurring [Member] | Interest Rate Swap [Member] | Fair Value, Inputs, Level 2 [Member]
Derivative Liability, Fair Value, Gross Liability	[2]	$ (7,287)	$ (2,496)
[1]	Included in "Other assets" in the accompanying consolidated balance sheets.
[2]	**Included in "Accounts payable and accrued liabilities" in the accompanying consolidated balance sheets.

Fair Value Disclosures (Asset43

Fair Value Disclosures (Assets And Liabilities Measured At Fair Value On A Non-Recurring Basis) (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability, Fair Value, Gross Liability	$ 58,101	$ 57,903

Fair Value Disclosures (Narrati

Fair Value Disclosures (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Mortgage notes and related accrued interest receivable	$ 819,837	$ 970,749
Investment in a direct financing lease, net	$ 58,101	$ 57,903
Finance lease investment weighted average interest rate	11.98%	11.98%
Minimum interest on investments in direct finance lease	11.90%	11.90%
Maximum interest on investments in direct finance lease	12.38%	12.38%
Debt	$ 3,131,437	$ 3,028,827
Fixed Rate Mortgage Notes Receivable [Member]
Mortgage notes and related accrued interest receivable	$ 819,800	$ 970,700
Weighted average interest rate of mortgage notes receivable	8.62%	8.42%
Receivable interest rate minimum	7.00%	7.00%
Receivable interest rate maximum	11.31%	11.31%
Weighted market rate used for determining future cash flow for notes receivable	9.16%	8.79%
Fair value of notes receivable	$ 841,200	$ 992,600
Variable Rate Debt [Member]
Debt	$ 995,000	$ 635,000
Long-term debt, weighted average interest rate	2.75%	2.58%
Variable Rate Converted to Fixed Rate [Member]
Debt	$ 350,000	$ 350,000
Fixed Rate Debt [Member]
Debt	$ 2,170,000	$ 2,430,000
Long-term debt, weighted average interest rate	4.84%	5.15%
Weighted market rate for determining fair value of debt	4.47%	4.04%
Fair value of debt	$ 2,190,000
Long-term Debt, Fair Value		$ 2,530,000
Minimum [Member] | Fixed Rate Mortgage Notes Receivable [Member]
market rate used as discount factor to determine fair value of notes	7.50%	7.00%
Minimum [Member] | Fixed Rate Debt [Member]
market rate used as discount factor to determine fair value of debt	2.79%	2.49%
Maximum [Member] | Fixed Rate Mortgage Notes Receivable [Member]
market rate used as discount factor to determine fair value of notes	11.50%	11.50%
Maximum [Member] | Fixed Rate Debt [Member]
market rate used as discount factor to determine fair value of debt	4.84%	4.56%
Imagine Schools Member
Investment in a direct financing lease, net	$ 58,100	$ 57,900

Earnings Per Share (Computation

Earnings Per Share (Computation Of Basic And Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Basic EPS:
Income from continuing operations	$ 29,538	$ 53,916
Less: preferred dividend requirements	(6,036)	(5,952)
Net income available to common shareholders of EPR Properties	$ 23,502	$ 47,964
Weighted average number of shares outstanding, basic	74,146	64,033
Net income available to common shareholders (in dollars per share)	$ 0.32	$ 0.75
Diluted EPS:
Share options (in shares)	34	69
Income from continuing operations available to common shareholders, diluted	$ 23,502	$ 47,964
Weighted average number of shares outstanding, diluted	74,180	64,102
Net income available to common shareholders, diluted	$ 23,502	$ 47,964
Net income available to common shareholders (in dollars per share)	$ 0.32	$ 0.75

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - $ / shares shares in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Anitidlutive securities exluded from computation of earnings per share [Line Items]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	$ 56.94
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$ 76.63
Series C Cumulative Convertible Preferred Share [Member]
Anitidlutive securities exluded from computation of earnings per share [Line Items]
Common shares upon conversion of convertible preferred shares	2,100	2,100
Preferred share dividend percentage	5.75%	5.75%
Series E Cumulative Convertible Preferred Share [Member]
Anitidlutive securities exluded from computation of earnings per share [Line Items]
Common shares upon conversion of convertible preferred shares	1,600	1,600
Preferred share dividend percentage	9.00%	9.00%
Share Options [Member]
Anitidlutive securities exluded from computation of earnings per share [Line Items]
Common shares upon conversion of convertible preferred shares	87	4

Equity Incentive Plans (Summary

Equity Incentive Plans (Summary Of Share Option Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	May 12, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Options, Non-employee Trustee Length of Period Subsequent to Grant Date Options Not Exercisable	1 year
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	5 years 3 months
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	5 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	234,616
Maximum term of options granted (in years)	10 years
Exercisable rate for employees options, per year	25.00%
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of Shares, Outstanding at Beginning of Period	257,606
Number of Shares, Granted	3,835
Number of Shares, Outstanding at End of Period	261,441
Average Exercise Price, Outstanding at Beginning of Period	$ 51.88		$ 51.81
Average Exercise Price, Outstanding at End of Period	51.88		51.81
Weighted average fair value of options granted	$ 3.03	$ 7.91
Intrinsic value of stock options exercised		$ 400
Share based compensation expenses recognized in future periods	$ 200
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 56.94
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Option Price Per Share, Outstanding at Beginning of Period	19.02		19.02
Option Price Per Share, Outstanding at End of Period	19.02		19.02
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Price Per Share	56.94
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Option Price Per Share, Outstanding at Beginning of Period	76.63		76.63
Option Price Per Share, Outstanding at End of Period	76.63		$ 76.63
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Price Per Share	$ 56.94
Share Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Stock-option expense	$ 73	$ 194
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum	2.70%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	18.90%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Forfeiture Rate	0.74%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	6 years
Share Options [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	7.60%
2016 Equity Incentive Plan [Member]
Common shares, options to purchase common shares and restricted share units, expected to granted (in shares)				1,950,000
Number of shares available for grant (in shares)	1,332,842
Exercise Price Range Nineteen Point Two to Nineteen Point Nine Nine [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	1 year 1 month
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	1 year 1 month
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	11,097
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of Shares, Outstanding at End of Period	11,097
Thirty To Thirty Nine Point Nine Nine Member
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	1 year 9 months
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	1 year 9 months
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	1,428
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of Shares, Outstanding at End of Period	1,428
Forty To Forty Nine Point Nine Nine Member
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	3 years 9 months
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	3 years 9 months
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	86,041
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of Shares, Outstanding at End of Period	86,041
Fifty To Fifty Nine Point Nine Nine Member
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	5 years 9 months
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	5 years 7 months
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	75,939
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of Shares, Outstanding at End of Period	79,774
Sixty To Sixty Five Point Five Zero Member
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	6 years 11 months
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	6 years 11 months
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	59,557
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of Shares, Outstanding at End of Period	80,886
Seventy To Seventy Six Point Six Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	8 years 11 months
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	8 years 11 months
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	554
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of Shares, Outstanding at End of Period	2,215

Equity Incentive Plans (Summa48

Equity Incentive Plans (Summary Of Outstanding Options) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	$ 56.94
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$ 76.63
Options outstanding (in shares)	261,441	257,606
Weighted avg. life remaining (in years)	5 years 3 months
Weighted avg. exercise price	$ 51.88	$ 51.81
Aggregate intrinsic value	$ 1,489
Share Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	18.90%
Minimum [Member] | Share Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	7.60%
Exercise Price Range Nineteen Point Two to Nineteen Point Nine Nine [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	$ 19.02
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$ 19.99
Options outstanding (in shares)	11,097
Weighted avg. life remaining (in years)	1 year 1 month
Twenty To Twenty Nine Point Nine Nine Member
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	$ 20
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	29.99
Thirty To Thirty Nine Point Nine Nine Member
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	30
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$ 39.99
Options outstanding (in shares)	1,428
Weighted avg. life remaining (in years)	1 year 9 months
Forty To Forty Nine Point Nine Nine Member
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	$ 40
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$ 49.99
Options outstanding (in shares)	86,041
Weighted avg. life remaining (in years)	3 years 9 months
Fifty To Fifty Nine Point Nine Nine Member
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	$ 50
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$ 59.99
Options outstanding (in shares)	79,774
Weighted avg. life remaining (in years)	5 years 9 months
Sixty To Sixty Five Point Five Zero Member
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	$ 60
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$ 69.99
Options outstanding (in shares)	80,886
Weighted avg. life remaining (in years)	6 years 11 months
Seventy To Seventy Six Point Six Three [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	$ 70
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$ 76.63
Options outstanding (in shares)	2,215
Weighted avg. life remaining (in years)	8 years 11 months

Equity Incentive Plans (Summa49

Equity Incentive Plans (Summary Of Exercisable Options) (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)$ / sharesshares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	$ 56.94
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$ 76.63
Options outstanding (in shares) | shares	234,616
Weighted avg. life remaining (in years)	5 years
Weighted avg. exercise price	$ 50.73
Aggregate intrinsic value | $	$ 1,489
Exercise Price Range Nineteen Point Two to Nineteen Point Nine Nine [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	$ 19.02
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$ 19.99
Options outstanding (in shares) | shares	11,097
Weighted avg. life remaining (in years)	1 year 1 month
Twenty To Twenty Nine Point Nine Nine Member
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	$ 20
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	29.99
Thirty To Thirty Nine Point Nine Nine Member
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	30
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$ 39.99
Options outstanding (in shares) | shares	1,428
Weighted avg. life remaining (in years)	1 year 9 months
Forty To Forty Nine Point Nine Nine Member
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	$ 40
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$ 49.99
Options outstanding (in shares) | shares	86,041
Weighted avg. life remaining (in years)	3 years 9 months
Fifty To Fifty Nine Point Nine Nine Member
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	$ 50
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$ 59.99
Options outstanding (in shares) | shares	75,939
Weighted avg. life remaining (in years)	5 years 7 months
Sixty To Sixty Five Point Five Zero Member
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	$ 60
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$ 69.99
Options outstanding (in shares) | shares	59,557
Weighted avg. life remaining (in years)	6 years 11 months
Seventy To Seventy Six Point Six Three [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	$ 70
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	$ 76.63
Options outstanding (in shares) | shares	554
Weighted avg. life remaining (in years)	8 years 11 months

Equity Incentive Plans (Summa50

Equity Incentive Plans (Summary Of Nonvested Share Activity) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Number of Shares, Outstanding at December 31, 2016	620,122
Number of Shares, Vested	(243,057)
Number of Shares, Outstanding at September 30, 2017	672,267
Number of Shares, Granted	295,202
Weighted Average Grant Date Fair Value, Outstanding at December 31, 2016	$ 68.07
Weighted Average Grant Date Fair Value, Granted	56.94
Weighted Average Grant Date Fair Value, Vested	65.34
Weighted Average Grant Date Fair Value, Outstanding at September 30, 2017	$ 64.17
Weighted Average Life Remaining, Outstanding at September 30, 2017 (in years)	1 year 7 months 26 days
Share based compensation, future vesting period minimum (in years)	4 years
Fair value of non-vested shares	$ 15.9	$ 15
Unamortized share-based compensation expense	$ 30.6
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Share based compensation, future vesting period minimum (in years)	4 years
Maximum [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Share based compensation, future vesting period minimum (in years)	4 years
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Share based compensation, future vesting period minimum (in years)	3 years
Minimum [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Share based compensation, future vesting period minimum (in years)	3 years

Equity Incentive Plans (Summa51

Equity Incentive Plans (Summary Of Restricted Share Unit Activity) (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)$ / sharesshares
Range of settlement date for shares for non-employee trustee from grant date, minimum	1 year
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Number of Shares, Outstanding at December 31, 2016 | shares	620,122
Number of Shares, Granted | shares	295,202
Number of Shares, Vested | shares	(243,057)
Number of Shares, Outstanding at September 30, 2017 | shares	672,267
Weighted Average Grant Date Fair Value, Outstanding at December 31, 2016 | $ / shares	$ 68.07
Weighted Average Grant Date Fair Value, Granted | $ / shares	56.94
Weighted Average Grant Date Fair Value, Vested | $ / shares	65.34
Weighted Average Grant Date Fair Value, Outstanding at September 30, 2017 | $ / shares	$ 64.17
Weighted Average Life Remaining, Outstanding at September 30, 2017 (in years)	1 year 7 months 26 days
Unamortized share-based compensation expense | $	$ 30,600
Restricted Share Units [Member]
Range of settlement date for shares for non-employee trustee from grant date, minimum	1 year
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Number of Shares, Outstanding at December 31, 2016 | shares	19,030
Number of Shares, Granted | shares	0
Number of Shares, Vested | shares	0
Number of Shares, Outstanding at September 30, 2017 | shares	19,030
Weighted Average Grant Date Fair Value, Outstanding at December 31, 2016 | $ / shares	$ 70.91
Weighted Average Grant Date Fair Value, Granted | $ / shares	0
Weighted Average Grant Date Fair Value, Vested | $ / shares	0
Weighted Average Grant Date Fair Value, Outstanding at September 30, 2017 | $ / shares	$ 70.91
Weighted Average Life Remaining, Outstanding at September 30, 2017 (in years)	1 month
Unamortized share-based compensation expense | $	$ 112

Other Commitments And Conting52

Other Commitments And Contingencies (Details)	Jun. 30, 2014claim	Oct. 20, 2011USD ($)claim	Jul. 31, 2018USD ($)	Jun. 30, 2018USD ($)	May 31, 2018USD ($)	Apr. 30, 2018USD ($)	Mar. 31, 2018USD ($)propertiesdevelopmentprojectmortgagenotes	Mar. 31, 2018USD ($)propertiesdevelopmentprojectmortgagenotes	Dec. 31, 2017USD ($)properties	Dec. 31, 2016USD ($)
Loss Contingency, Claims Settled and Dismissed, Number | claim	2	2
Commitment to fund project development							$ 143,500,000	$ 143,500,000
Number of Surety Bonds							6	6
Surety bonds							$ 22,800,000	$ 22,800,000
Number of Mortgage Notes Receivable (in mortgage notes) | mortgagenotes							6	6
Mortgage notes receivable with commitments								$ 19,400,000
Guarantor Obligations, Maximum Exposure, Undiscounted							$ 24,700,000	$ 24,700,000
Loss Contingency, Damages Sought, Value		$ 800,000,000
Loss Contingency, Claims Dismissed, Number | claim	1
Loss Contingency, New Claims Filed, Number | claim		3
Theatre Properties [Member]
Development projects in process (in projects) | developmentproject							16	16
Commitment to fund project development							$ 45,000,000	$ 45,000,000
recreationproperties [Member]
Development projects in process (in projects) | developmentproject							3	3
Commitment to fund project development							$ 49,600,000	$ 49,600,000
Concord Resort [Member]
Commitment to fund project development							201,000,000	201,000,000
Adelaar Infrastructure [Member]
Special Assessment Bond							$ 110,000,000	110,000,000
Property under development								$ 6,900,000	$ 23,900,000	$ 43,400,000
Education Property Member
Development projects in process (in projects) | developmentproject							9	9
Commitment to fund project development							$ 48,900,000	$ 48,900,000
Louisiana Theatre Properties [Member]
Development projects in process (in projects) | developmentproject							2	2
Economic development revenue bond annual fees percentage								4.00%
Economic development revenue bond term								30 years
Deferred assets related to guarantee							$ 13,300,000	$ 13,300,000
Deferred liabilities related to guarantee							13,300,000	13,300,000
Loss contingency								0
Waterpark Hotel and Adventure Park [Member] | Kiamesha Lake NY [Member]
Commitment to fund project development							$ 60,400,000	$ 60,400,000
Children's Learning Adventure USA, LLC [Member]
Subsidiaries filing for bankruptcy | properties									10
Bankruptcy Claims, Number Claims Filed | properties									24
Number of Real Estate Properties | properties							25	25
Property Subject to or Available for Operating Lease, Number of Units | properties							21	21
Payments for Rent							$ 750,000
Children's Learning Adventure USA, LLC [Member] | land held for development [Member]
number of properties under construction | properties							2	2
number of properties in land held for development | properties							1	1
Subsequent Event [Member] | Children's Learning Adventure USA, LLC [Member]
Payments for Rent			$ 1,000,000	$ 1,000,000	$ 750,000	$ 750,000

Segment Information Balance She

Segment Information Balance Sheet Data (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)segment	Dec. 31, 2017USD ($)
Segment Reporting Information [Line Items]
Number of Reportable Operating Segments | segment	4
Total Assets	$ 6,238,866	$ 6,191,493
Entertainment Reportable Operating Segment [Member]
Segment Reporting Information [Line Items]
Total Assets	2,388,438	2,380,129
Recreation Reportable Operating Segment [Member]
Segment Reporting Information [Line Items]
Total Assets	2,159,147	2,102,041
Education Reportable Operating Segment [Member]
Segment Reporting Information [Line Items]
Total Assets	1,425,133	1,429,992
Other Reportable Operating Segment [Member]
Segment Reporting Information [Line Items]
Total Assets	196,799	199,052
Corporate / Unallocated
Segment Reporting Information [Line Items]
Total Assets	$ 69,349	$ 80,279

Segment Information Operating D

Segment Information Operating Data (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Segment Reporting Information [Line Items]
Rental revenue	$ 128,933	$ 107,037
Tenant reimbursements	3,991	3,749
Other income	630	692
Mortgage and other financing income	21,414	17,634
Total revenue	154,968	129,112
Property operating expense	7,564	6,350
Total investment expenses	7,564	6,350
Net Operating Income - Before Unallocated Items	147,404	122,762
Reconciliation to Consolidated Statements of Income:
General and administrative expense	(12,324)	(11,057)
Costs associated with loan refinancing	(31,943)	(5)
Interest expense, net	(34,337)	(30,692)
Transaction costs	(609)	(57)
Depreciation and amortization	(37,684)	(28,077)
Equity in income (loss) from joint ventures	51	(8)
Gain on sale of real estate	0	2,004
Income tax expense	(1,020)	(954)
Net income attributable to EPR Properties	29,538	53,916
Preferred dividend requirements	(6,036)	(5,952)
Net Income (Loss) Available to Common Stockholders, Basic	23,502	47,964
Entertainment Reportable Operating Segment [Member]
Segment Reporting Information [Line Items]
Rental revenue	70,862	65,091
Tenant reimbursements	3,986	3,749
Other income	0	6
Mortgage and other financing income	802	1,179
Total revenue	75,650	70,025
Property operating expense	6,229	5,835
Total investment expenses	6,229	5,835
Net Operating Income - Before Unallocated Items	69,421	64,190
Recreation Reportable Operating Segment [Member]
Segment Reporting Information [Line Items]
Rental revenue	33,432	17,299
Tenant reimbursements	0	0
Other income	62	0
Mortgage and other financing income	13,705	7,906
Total revenue	47,199	25,205
Property operating expense	33	28
Total investment expenses	33	28
Net Operating Income - Before Unallocated Items	47,166	25,177
Education Reportable Operating Segment [Member]
Segment Reporting Information [Line Items]
Rental revenue	22,380	22,357
Tenant reimbursements	5	0
Other income	0	0
Mortgage and other financing income	6,907	8,549
Total revenue	29,292	30,906
Property operating expense	829	0
Total investment expenses	829	0
Net Operating Income - Before Unallocated Items	28,463	30,906
Other Reportable Operating Segment [Member]
Segment Reporting Information [Line Items]
Rental revenue	2,259	2,290
Tenant reimbursements	0	0
Other income	0	0
Mortgage and other financing income	0	0
Total revenue	2,259	2,290
Property operating expense	314	340
Total investment expenses	314	340
Net Operating Income - Before Unallocated Items	1,945	1,950
Corporate / Unallocated
Segment Reporting Information [Line Items]
Rental revenue	0	0
Tenant reimbursements	0	0
Other income	568	686
Mortgage and other financing income	0	0
Total revenue	568	686
Property operating expense	159	147
Total investment expenses	159	147
Net Operating Income - Before Unallocated Items	$ 409	$ 539

Uncategorized Items - epr-20180

Label	Element	Value
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	$ 29,079,000
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	$ 58,986,000