EPR Properties (EPR) 10-Q 5 May 22 2022 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	3 Months Ended
	Mar. 31, 2022	May 04, 2022
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-13561
Entity Registrant Name	EPR PROPERTIES
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	43-1790877
Entity Address, Address Line One	909 Walnut Street,
Entity Address, Address Line Two	Suite 200
Entity Address, City or Town	Kansas City,
Entity Address, State or Province	MO
Entity Address, Postal Zip Code	64106
City Area Code	(816)
Local Phone Number	472-1700
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		74,969,613
Entity Central Index Key	0001045450
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false
Common Stock [Member]
Entity Information [Line Items]
Title of 12(b) Security	Common shares, par value $0.01 per share
Trading Symbol	EPR
Entity Listing, Description	NYSE
Series C Preferred Shares [Member]
Entity Information [Line Items]
Title of 12(b) Security	5.75% Series C cumulative convertible preferred shares, par value $0.01 per share
Trading Symbol	EPR PrC
Entity Listing, Description	NYSE
Series E Preferred Shares [Member]
Entity Information [Line Items]
Title of 12(b) Security	9.00% Series E cumulative convertible preferred shares, par value $0.01 per share
Trading Symbol	EPR PrE
Entity Listing, Description	NYSE
Series G Preferred Stock [Member]
Entity Information [Line Items]
Title of 12(b) Security	5.75% Series G cumulative redeemable preferred shares, par value $0.01 per share
Trading Symbol	EPR PrG
Entity Listing, Description	NYSE

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Assets
Real Estate Investment Property, Net	$ 4,738,887	$ 4,713,091
Land held for development	20,168	20,168
Property under development	10,885	42,362
Operating Lease, Right-of-Use Asset	177,174	180,808
Financing Receivable, after Allowance for Credit Loss, Current	370,021	370,159
Investment in joint ventures	36,564	36,670
Cash and cash equivalents	323,761	288,822
Restricted cash	2,956	1,079
Accounts receivable, net	60,704	78,073
Other assets	76,950	69,918
Total assets	5,818,070	5,801,150
Liabilities:
Accounts payable and accrued liabilities	92,999	73,462
Operating Lease, Liability	215,112	218,795
Dividends Payable, Current	20,946	18,896
Preferred dividends payable	6,033	6,034
Unearned rents and interest	76,013	61,559
Debt	2,805,853	2,804,365
Total liabilities	$ 3,216,956	$ 3,183,111
Equity:
Common Stock, Shares, Issued	82,485,670	82,225,061
Common Stock, Value, Issued	$ 825	$ 822
Additional paid-in-capital	3,886,240	3,876,817
Treasury Stock, Value	(269,608)	(264,817)
Accumulated other comprehensive income	10,471	9,955
Distributions in excess of net income	1,026,962	1,004,886
Total equity	2,601,114	2,618,039
Total liabilities and equity	$ 5,818,070	5,801,150
Series C Preferred Shares [Member]
Equity:
Preferred Shares, shares issued	5,392,916
Preferred shares	$ 54	$ 54
Series E Preferred Shares [Member]
Equity:
Preferred Shares, shares issued	3,447,381	3,447,381
Preferred shares	$ 34	$ 34
Series G Preferred Stock [Member]
Equity:
Preferred Shares, shares issued	6,000,000	6,000,000
Preferred shares	$ 60	$ 60

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Real Estate Owned, Accumulated Depreciation	$ 1,206,317,000	$ 1,167,734,000
Treasury Stock, Shares	7,517,572	7,416,746
Common Shares, par value	$ 0.01	$ 0.01
Common Shares, shares authorized	100,000,000	100,000,000
Preferred Shares, par value	$ 0.01	$ 0.01
Preferred Shares, shares authorized	25,000,000	25,000,000
Series C Preferred Shares [Member]
Preferred Shares, shares issued	5,392,916
Preferred Shares, liquidation preference	$ 134,822,900	$ 134,822,900
Series E Preferred Shares [Member]
Preferred Shares, shares issued	3,447,381	3,447,381
Preferred Shares, liquidation preference	$ 86,184,525	$ 86,184,525
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 and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating Lease, Lease Income	$ 139,603	$ 102,614
Other income	9,305	678
Interest and Fee Income, Loans, Commercial and Residential, Real Estate	8,564	8,473
Total revenue	157,472	111,765
Property operating expense	13,939	15,313
Other expense	8,097	2,552
General and Administrative Expense	13,224	11,336
Costs associated with loan refinancing or payoff	0	241
Interest expense, net	33,260	39,194
Transaction costs	2,247	548
Financing Receivable, Credit Loss, Expense (Reversal)	(306)	(2,762)
Asset Impairment Charges	4,351	0
Depreciation and amortization	40,044	40,326
Income before equity in loss from joint ventures and other items	42,616	5,017
Equity in loss from joint ventures	(106)	(1,431)
Gain on sale of real estate	0	201
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	42,510	3,787
Income tax benefit (expense)	(318)	(407)
Net income	42,192	3,380
Preferred dividend requirements	(6,033)	(6,034)
Net income (loss) available to common shareholders of EPR Properties	36,159	(2,654)
Foreign currency translation adjustment	2,606	2,300
Unrealized Gain (Loss) on Derivatives	(2,090)	462
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	$ 42,708	$ 6,142
Basic earnings per share data:
Net income available to common shareholders (in dollars per share)	$ 0.48	$ (0.04)
Diluted earnings per share data:
Net income available to common shareholders (in dollars per share)	$ 0.48	$ (0.04)
Shares used for computation (in thousands):
Basic (in shares)	74,843	74,627
Diluted (in shares)	75,047	74,627

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]	Series C Preferred Shares [Member]	Series C Preferred Shares [Member]Distributions in excess of net income [Member]	Series E Preferred Shares [Member]	Series E Preferred Shares [Member]Distributions in excess of net income [Member]	Series G Preferred Stock [Member]	Series G Preferred Stock [Member]Distributions in excess of net income [Member]	Performance Shares [Member]	Performance Shares [Member]Distributions in excess of net income [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total equity	$ 2,630,585	$ 819	$ 148	$ 3,857,632	$ (261,238)	$ 216	$ (966,992)
Balance (in shares) at Dec. 31, 2020		81,917,876	14,841,431
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures		246,562
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures	2,901	$ 2		2,899	0
Treasury Stock, Retired, Cost Method, Amount	(2,744)				(2,744)
Employee Service Share Based Compensation Restricted Stock Units And Restricted Shares Unrecognized Compensation Cost On Nonvested Awards	3,784			3,784
Foreign currency translation adjustment	2,300					2,300
Unrealized Gain (Loss) on Derivatives	462					462
Net income	3,380						3,380
Issuances of common shares (in shares)		2,509
Issuances of common shares	107	$ 0		107
Dividends to common and preferred shareholders								$ (1,939)	$ (1,939)	$ (1,939)	$ (1,939)	$ (2,156)	$ (2,156)	$ (8)	$ (8)
Preferred Stock, Dividends, Per Share, Cash Paid								$ 0.359375		$ 0.5625		$ 0.359375
Balance (in shares) at Mar. 31, 2021		82,166,947	14,841,431
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total equity	2,634,733	$ 821	$ 148	3,864,422	(263,982)	2,978	(969,654)
Total equity	2,618,039	$ 822	$ 148	3,876,817	(264,817)	9,955	(1,004,886)
Balance (in shares) at Dec. 31, 2021		82,225,061	14,840,297
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock Issued During Period, Shares, Other		2,794
Stock Issued During Period, Value, Other	0
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures		243,286
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures	4,416	$ 3		4,496	(83)
Treasury Stock, Retired, Cost Method, Amount	(4,250)				(4,250)
Employee Service Share Based Compensation Restricted Stock Units And Restricted Shares Unrecognized Compensation Cost On Nonvested Awards	4,245			4,245
Foreign currency translation adjustment	2,606					2,606
Unrealized Gain (Loss) on Derivatives	(2,090)					(2,090)
Net income	42,192						42,192
Issuances of common shares (in shares)		4,730
Issuances of common shares	$ 228	$ 0		228
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	9,799	9,799
Stock Issued During Period, Value, Stock Options Exercised	$ 4	$ 0		(454)	(458)
Common Stock, Dividends, Per Share, Cash Paid	$ 0.775
Dividends to common and preferred shareholders	$ (58,099)						(58,099)	$ (1,938)	$ (1,938)	$ (1,939)	$ (1,939)	$ (2,156)	$ (2,156)	$ (136)	$ (136)
Preferred Stock, Dividends, Per Share, Cash Paid								$ 0.359375		$ 0.5625		$ 0.359375
Balance (in shares) at Mar. 31, 2022		82,485,670	14,840,297
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total equity	$ 2,601,114	$ 825	$ 148	$ 3,886,240	$ (269,608)	$ 10,471	$ (1,026,962)

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating activities:
Net income	$ 42,192	$ 3,380
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Impairment of Real Estate	4,351	0
Gain on sale of real estate	0	(201)
Gain on Insurance Recovery	(552)	(30)
Write off of deferred debt issuance cost continuing and discontinued	0	241
Equity in loss from joint ventures	(106)	(1,431)
Proceeds from Equity Method Investment, Distribution	0	90
Financing Receivable, Credit Loss, Expense (Reversal)	(306)	(2,762)
depreciation and amort cont and discops	40,044	40,326
Amortization of deferred financing costs	2,071	1,547
Amortization of above/below market leases and tenant allowances, net	(87)	(96)
Share-based Payment Arrangement, Noncash Expense	4,245	3,784
Increase (Decrease) in Operating Lease Assets and Liabilities, Net	(49)	(120)
Mortgage notes accrued interest receivable	310	280
Accounts receivable	17,424	18,687
Other assets	(5,861)	(7,323)
Accounts payable and accrued liabilities	15,132	997
Increase (Decrease) in Deferred Revenue	9,067	18,075
Net cash provided by operating activities	128,087	78,306
Investing activities:
Payments to Acquire Productive Assets	20,726	26,847
Proceeds from Sale of Productive Assets	61	13,707
Investment in unconsolidated joint ventures	0	1,625
Investment in mortgage notes receivable	0	(2,436)
Proceeds from Sale and Collection of Mortgage Notes Receivable	151	5,299
Investment in promissory notes receivable	0	4,379
Proceeds from promissory note receivable paydown	75	105
Proceeds from Insurance Recovery	609	30
Additions to properties under development	(5,205)	(13,748)
Net cash used by investing activities	(25,035)	(29,894)
Financing activities:
Principal payments on long-term debt	0	(523,765)
Deferred financing fees paid	(48)	0
Net proceeds from issuance of common shares	160	108
Payment, Tax Withholding, Share-based Payment Arrangement	(4)	0
Purchase of common shares for treasury	(4,250)	(2,744)
Dividends paid to shareholders	(62,151)	(6,034)
Net cash used by financing activities	(66,293)	(532,435)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	57	18
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	36,816	(484,005)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	326,717	544,005
Cash and Cash Equivalents, at Carrying Value	323,761	538,077
Restricted Cash and Cash Equivalents	2,956	5,928
Supplemental schedule of non-cash activity:
Transfer of property under development to rental property	35,255	309
Issuance of nonvested shares and restricted share units at fair value, including nonvested shares issued for payment of bonuses	19,791	19,793
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability	0	18,481
Supplemental disclosure of cash flow information:
Interest Paid, Excluding Capitalized Interest, Operating Activities	17,298	33,562
Cash paid during the period for income taxes	0	285
Interest cost capitalized	200	595
Change in accrued capital expenditures	$ 5,928	$ (3,323)

Organization

Organization	3 Months Ended
	Mar. 31, 2022
Organization [Abstract]
Organization	Organization Description of Business EPR Properties (the Company) was formed on August 22, 1997 as a Maryland real estate investment trust (REIT), and an initial public offering of the Company's common shares of beneficial interest (common shares) was completed on November 18, 1997. Since that time, the Company has been a leading diversified Experiential net lease REIT specializing in select enduring experiential properties. The Company's underwriting is centered on key industry and property cash flow criteria, as well as the credit metrics of the Company's tenants and customers. 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, 2022
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, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. Amounts as of December 31, 2021 have been derived from the audited Consolidated Financial Statements as of that date and should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2021 filed with the Securities and Exchange Commission (SEC) on February 23, 2022. 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 equity method of accounting is applied to entities in which the Company is not the primary beneficiary as defined in the FASB ASC Topic on Consolidation (Topic 810) but can exercise influence over the entity with respect to its operations and major decisions. The Company’s variable interests 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. The primary beneficiary generally is defined as the party with the controlling financial interest. Consideration of various factors include, but are not limited to, the Company’s ability to direct the activities that most significantly impact the entity’s economic performance and its obligation to absorb losses from or right to receive benefits of the VIE that could potentially be significant to the VIE. As of March 31, 2022 and December 31, 2021, the Company does not have any investments in consolidated VIEs. Risks and Uncertainties The Company continues to be subject to risks and uncertainties resulting from the COVID-19 pandemic. The COVID-19 pandemic severely impacted global economic activity and caused significant volatility and negative pressure in financial markets. In response to the COVID-19 pandemic, many jurisdictions within the United States and abroad instituted health and safety measures, including quarantines, mandated business and school closures and travel restrictions. As a result, the COVID-19 pandemic severely impacted experiential real estate properties, given that such properties involve congregate social activity and discretionary consumer spending . Although many of these health and safety measures have been lifted, the extent of the impact of the COVID-19 pandemic on the Company's business still remains highly uncertain and difficult to predict. As of March 31, 2022, the Company had no properties closed due to COVID-19 restrictions . The continuing impact of the COVID-19 pandemic on the Company’s business will depend on a number of factors, including, but not limited to, the scope, severity and duration of any resurgence of the pandemic (including COVID-19 variants), the actions taken to contain the outbreak or any resurgence or mitigate their impacts, the distribution and efficacy of vaccines and therapeutics, the ability of communities to achieve herd immunity, the public’s confidence in the health and safety measures implemented by the Company's tenants and borrowers, the continuing direct and indirect economic effects of the outbreak and containment measures, and the ability of the Company's tenants and borrowers to recover from the negative economic impacts of the pandemic as it subsides, and in many cases, service elevated levels of debt resulting from the pandemic, all of which are uncertain and cannot be predicted. During 2020 and 2021, the COVID-19 pandemic negatively affected the Company's business and could continue to have material adverse effects on the Company's financial condition, results of operations and cash flows. The Company considered the impact of, and recovery from, the COVID-19 pandemic on the assumptions and estimates used in determining the Company’s financial condition and results of operations for the three months ended March 31, 2022. The following were impacts to the Company's financial statements and business during the three months ended March 31, 2022 arising out of or relating to the COVID-19 pandemic : • The Company continued to recognize revenue on a cash basis for certain tenants including American-Multi Cinema, Inc. (AMC) and Regal Cinemas (Regal), a subsidiary of Cineworld Group. • As of March 31, 2022, t he Company has deferred amounts due from tenants of approxim atel y $17.4 million that are booked as receivables. Additionally, the Company has amounts due from tenants that were not booked as receivables because the full amounts were not deemed probable of collection as a result of the COVID-19 pandemic. The amounts not booked as receivables remain obligations of the tenants and will be recognized as revenue when received. During the three months ended March 31, 2022, the Company collected $1.6 million in deferred rent from cash basis tenants and from tenants for which the deferred payments were not previously recognized as revenue. In addition, during the three months ended March 31, 2022, the Company collected $10.2 million of deferred rent and interest from accrual basis tenants and borrowers that reduced related accounts and interest receivable. The repayment terms for all of these deferments vary by tenant. Reportable Segments The Company has two reportable operating segments: Experiential and Education. The Experiential segment includes the following property types: theatres, eat & play (including seven theatres located in entertainment districts), attractions, ski, experiential lodging, gaming, cultural and fitness & wellness. The Education segment includes the following property types: early childhood education centers and private schools. See Note 15 for financial information related to these reportable segments. Real Estate Investments Real estate investments are carried at initial recorded value less accumulated depreciation. Costs incurred for the acquisition and development of the properties are capitalized. In addition, the Company capitalizes certain costs that relate to property under development including interest and a portion of internal legal personnel costs. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, which generally are estimated to be 30 years to 40 years for buildings, three years to 25 years for furniture, fixtures and equipment and 10 years to 20 years for site improvements. Tenant improvements, including allowances, are depreciated over the shorter of the lease term or the estimated useful life and leasehold interests are depreciated over the useful life of the underlying ground lease. Management reviews the Company's real estate investments, including operating lease right-of-use assets, for impairment whenever events or changes in circumstances indicate that the carrying value of a property may not be recoverable, which 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 and 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. If the acquisition is determined to be an asset acquisition, the Company records the purchase price and other related costs incurred to the acquired tangible assets and identified intangible assets and liabilities on a relative fair value basis. In addition, costs incurred for asset acquisitions, including transaction costs, are capitalized. If the acquisition is determined to be a business combination, the Company records the fair value of acquired tangible assets and identified intangible assets and liabilities as well as any noncontrolling interest. Acquisition-related costs in connection with business combinations are expensed as incurred and included in "Transaction costs" in the accompanying consolidated statements of income (loss) and comprehensive income. For real estate acquisitions (asset acquisitions or business combinations), the fair value (or relative fair value in an asset acquisition) of the tangible assets is determined by valuing the property using recent independent appraisals or methods similar to those used by independent appraisers. Land is valued using the sales comparison approach which uses available market data from recent comparable land sales as an input to estimate the fair value. Site improvements and tenant improvements are valued using the cost approach which uses replacement cost data obtained from industry recognized guides less depreciation as an input to estimate the fair value. The building is valued either using the cost approach described above or a combination of the cost and the income approach. The income approach uses market leasing assumptions to estimate the fair value of the property as if vacant. The cost and income approaches are reconciled to arrive at an estimated building fair value. Deferred Financing Costs Deferred financing costs are amortized over the terms of the related debt obligations or mortgage note receivable as applicable. Deferred financin g costs of $35.4 million and $36.9 million as of March 31, 2022 and December 31, 2021, respectively, are shown as a reduction of debt. The deferred financing costs of $8.2 million and $8.7 million as of March 31, 2022 and December 31, 2021, respectively, related to the unsecured revolving credit facility are included in "Other assets" in the accompanying consolidated balance s heets. Rental Revenue The Company leases real estate to its tenants under leases classified as operating leases. The Company's leases generally provide for rent escalations throughout the lease terms. Rents that are fixed are recognized on a straight-line basis over the lease term. Base rent escalations that include a variable component are recognized upon the occurrence of the specified event as defined in the Company's lease agreements. Many of the Company's leasing arrangements include options to extend the lease, which are not included in the minimum lease terms unless it is reasonably certain to be exercised. Straight-line rental revenue is subject to an evaluation for collectibility, and the Company records a direct write-off against rental revenue if collectibility of these future rents is not probable. For the three months ended March 31, 2022 and 2021, the Company recognized $0.6 million and $1.3 million, respectively, of straight-line rental revenue. There were no straight-line write-offs for the three months ended March 31, 2022 and 2021 . The Company has agreed to defer rent for a substantial portion of its customers in response to the impact of the COVID-19 pandemic on their operations. On April 10, 2020, the FASB issued a Staff Q&A on Topic 842 and Topic 840: Accounting for Lease Concessions Related to the Effects of the COVID-19 Pandemic. In reliance upon the FASB Staff Q&A, the Company has not treated qualifying deferrals or rent concessions during the period affected by the COVID-19 pandemic as lease modifications. While deferments for this and future periods delay rent payments, these deferments generally do not release customers from the obligation to pay the deferred amounts in the future. Deferred rent amounts are reflected in the Company's financial statements as accounts receivable if collection is determined to be probable or recognized when received as variable lease payments if collection is determined to not be probable. Certain agreements with tenants where remaining lease terms are extended, or other changes are made that do not qualify for the treatment in the FASB Staff Q&A, are treated as lease modifications. In these circumstances, upon an executed lease modification, if the tenant is not being recognized on a cash basis, the contractual rent reflected in accounts receivable and straight-line rent receivable will be amortized over the remaining term of the lease against rental revenue. In limited cases, customers may be entitled to the abatement of rent during governmentally imposed prohibitions on business operations which is recognized in the period to which the abatement relates, or the Company may provide rent concessions to tenants. In cases where the Company provides concessions to tenants to which they are not otherwise entitled, those amounts will be recognized in the period in which the concession is granted unless the changes are accounted for as lease modifications. Most of the Company’s lease contracts are triple-net leases, which require the tenants to make payments to third parties for lessor costs (such as property taxes and insurance) associated with the properties. In accordance with Topic 842, the Company does not include these lessee payments to third parties in rental revenue or property operating expenses. In certain situations, the Company pays these lessor costs directly to third parties and the tenants reimburse the Company. In accordance with Topic 842, these payments are presented on a gross basis in rental revenue and property operating expense. During the three months ended March 31, 2022 and 2021, the Company recogni zed $0.5 million and $1.0 million , respectively, in tenant reimbursements related to the gross up of these reimbursed expenses which are included in rental revenue. Certain of the Company's leases, particularly at its entertainment districts, require the tenants to make payments to the Company for property-related expenses such as common area maintenance. The Company has elected to combine these non-lease components with the lease components in rental revenue. For the three months ended March 31, 2022 and 2021, the amounts due for non-lease components included in rental revenue tota led $4.5 million and $3.8 million, respectively. In addition, most of the Company's tenants are subject to additional rents (above base rents) if gross revenues of the properties exceed certain thresholds defined in the lease agreements (percentage rents). Percentage rents are recognized at the time when specific trigger ing events occur as provided by the lease agreement. Rental revenue included percentage rents of $3.4 million and $2.0 million fo r the three months ended March 31, 2022 and 2021, respectively. The Company regularly evaluates the collectibility of its receivables on a lease-by-lease basis. 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, current economic conditions and changes in customer payment terms. When the collectibility of lease receivables or future lease payments are no longer probable, the Company records a direct write-off of the receivable to rental revenue and recognizes future rental revenue on a cash basis. Property Sales Sales of real estate properties are recognized when a contract exists 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 less allowance for credit loss. Interest income is recognized using the effective interest method over the estimated life of the note. Interest income includes both the stated interest and the amortization or accretion of premiums or discounts (if any). In accordance with ASC Topic 326, Measurement of Credit Losses on Financial Instruments, the Company records allowance for credit loss to reflect that all mortgage notes and notes receivable have some inherent risk of loss regardless of credit quality, collateral, or other mitigating factors. While Topic 326 does not require any particular method for determining the reserves, it does specify that it should be based on relevant information about past events, including historical loss experience, current portfolio and market conditions, as well as reasonable and supportable forecasts for the term of each mortgage note or note receivable. The Company uses a forward looking commercial real estate forecasting tool to estimate its current expected credit losses (CECL) for each of its mortgage notes and notes receivable on a loan by loan basis. The CECL allowance required by Topic 326 is a valuation account that is deducted from the related mortgage note or note receivable. Certain of the Company’s mortgage notes and notes receivable include commitments to fund incremental amounts to its borrowers. These future funding commitments are also subject to the CECL model. The allowance related to future funding is recorded as a liability and is included in "Accounts payable and accrued liabilities" in the accompanying consolidated balance sheet. As permitted under Topic 326, the Company made an accounting policy election to not measure an allowance for credit losses for accrued interest receivables related to its mortgage notes and notes receivable. Accordingly, if accrued interest receivable is deemed to be uncollectible, the Company will record any necessary write-offs as a reversal of interest in come. There were no accrued interest write-offs for the three months ended March 31, 2022 and 2021. As of March 31, 2022, the Company believes that all outstanding accrued interest is collectible. In the event the Company has a past due mortgage note or note receivable and the Company determines it is collateral dependent, the Company measures expected credit losses based on the fair value of the collateral. As of March 31, 2022, the Company does not have any mortgage notes or notes receivable with past due principal balances. Mortgage and Other Financing Income Certain of the Company's borrowers are subject to additional interest based on certain thresholds defined in the mortgage agreements (participating interest). Participating interest income is recognized at the time when specific parameters have been met as provided by the mortgage agreement. There was no participating interest income for the three months ended March 31, 2022 and 2021. Concentrations of Risk AMC, Topgolf USA (Topgolf) and Regal represented a significant portion of the Company's total revenue for the three months ended March 31, 2022 and 2021. The Company began recognizing revenue on a cash basis for AMC at the end of the first quarter of 2020 and for Regal at the end of the third quarter of 2020 and cash payments were reduced due to the impact of the COVID-19 pandemic. The following is a summary of the Company's total revenue derived from rental or interest payments from AMC, Topgolf and Regal (dollars in thousands): Three Months Ended March 31, 2022 2021 Total Revenue % of Company's Total Revenue Total Revenue % of Company's Total Revenue AMC $ 23,422 14.9 % $ 23,835 21.3 % Topgolf 22,383 14.2 % 20,486 18.3 % Regal 21,255 13.5 % 625 0.6 % 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. Share-based compensation expense consists of share option expense and amortization of non-vested share grants issued to employees, and amortization of share units issued to non-employee Trustees for payment of their annual retainers. Share-based compensation is included in "General and administrative expense" in the accompanying consolidated statements of income (loss) and comprehensive income. 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 (loss) and comprehensive income was $4 thousand for both the three months ended March 31, 2022 and 2021. 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 years or four years). Expense recognized related to nonvested shares and included in "General and administrative expense" in the accompanying consolidated statements of income (loss) and comprehensive income was $2.0 million and $2.2 million for the three months ended March 31, 2022 and 2021, respectively. Nonvested Performance Shares Issued to Employees The Company awards performance shares to the Company's executive officers pursuant to the Long-Term Incentive Plan. The performance shares contain both a market condition and a performance condition. The Company amortizes the expense related to the performance shares over the future performance period of three years. Expense recognized related to performance shares and included in "General and administrative expense" in the accompanying consolidated statements of income (loss) and comprehensive income was $1.6 million and $0.9 million for the three months ended March 31, 2022 and 2021 , 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 and included in "General and administrative expense" in the accompanying consolidated statements of income (loss) and comprehensive income was $0.6 million for both the three months ended March 31, 2022 and 2021. Derivative Instruments The Company uses derivative instruments to reduce exposure to fluctuations in foreign currency exchange rates and variable interest rates. 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 foreign currency risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows are considered cash flow hedges. 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 hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. For its net investment hedges that hedge the foreign currency exposure of its Canadian investments, the Company has elected to assess hedge effectiveness using a method based on changes in spot exchange rates and record the changes in the fair value amounts excluded from the assessment of effectiveness into earnings on a systematic and rational basis. 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. If hedge accounting is not applied, realized and unrealized gains or losses are reported in earnings. 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 March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848) . The ASU contains practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts. The guidance in ASU 2020-04 is optional and may be elected over time as reference rate reform activities occur. During the year ended December 31, 2020, the Company elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. On March 5, 2021, the Financial Conduct Authority ("FCA") announced that the USD LIBOR will no longer be published after June 30, 2023. At March 31, 2022, the Company had 10 agreements (including debt, derivative, mortgage note and lease agreements) that are indexed to LIBOR, of which three mature prior to June 30, 2023. The Company is monitoring and evaluating the related risks with transitioning these contracts to a replacement index. In March 2022, the FASB issued ASU No. 2022-02, Financial Instruments - Credit Losses (Topic 326), Troubled Debt Restructurings and Vintage Disclosures.

Rental Properties

Rental Properties	3 Months Ended
	Mar. 31, 2022
Real Estate [Abstract]
Rental Properties	Real Estate Investments The following table summarizes the carrying amounts of real estate investments as of March 31, 2022 and December 31, 2021 (in thousands): March 31, 2022 December 31, 2021 Buildings and improvements $ 4,580,400 $ 4,523,052 Furniture, fixtures & equipment 108,454 108,907 Land 1,229,363 1,222,149 Leasehold interests 26,987 26,717 5,945,204 5,880,825 Accumulated depreciation (1,206,317) (1,167,734) Total $ 4,738,887 $ 4,713,091 Depreciation expense on real estate investments was $38.8 million and $38.9 million for the three months ended March 31, 2022 and 2021, respectively.

Impairment Charges (Notes)

Impairment Charges (Notes) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Asset Impairment Charges [Abstract]
Asset Impairment Charges [Text Block]	Impairment ChargesThe Company reviews its properties for changes in circumstances that indicate that the carrying value of a property may not be recoverable based on an estimate of undiscounted future cash flows. During the three months ended March 31, 2022, the Company received an offer to sell a recently vacated property. As a result, the Company reassessed the expected holding period, and determined that the estimated cash flows were not sufficient to recover the carrying value of the property. The Company estimated the fair value of this property by taking into account the purchase offer. The Company reduced the carrying value of the real estate investment, net to $4.7 million. The Company recognized an impairment charge of $4.4 million on the real estate investment, which is the amount that the carrying value of the asset exceeded the estimated fair value.
Impaired Long-Lived Assets Held and Used [Line Items]
Asset Impairment Charges	$ 4,351	$ 0	$ 2,700
Theatre Properties [Member]
Impaired Long-Lived Assets Held and Used [Line Items]
Impaired Assets to be Disposed of by Method Other than Sale, Carrying Value of Asset	4,700
Asset Impairment Charges	$ 4,400

Investments and Dispositions

Investments and Dispositions	3 Months Ended
	Mar. 31, 2022
Investments [Abstract]
Investments	Investments The Company's investment spending during the three months ended March 31, 2022 totaled $24.4 million, a nd included the acquisition of one fitness and wellness property for approximately $19.9 million, as well as spending on build-to-suit experiential development and redevelopment

Receivables, Loans, Notes Recei

Receivables, Loans, Notes Receivable, and Others	3 Months Ended
	Mar. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	The following table summarizes the carrying amounts of accounts receivable as of March 31, 2022 and December 31, 2021 (in thousands): March 31, 2022 December 31, 2021 Receivable from tenants $ 19,731 $ 37,417 Receivable from non-tenants 2,102 2,237 Straight-line rent receivable 38,871 38,419 Total $ 60,704 $ 78,073 As of March 31, 2022, receivable from tenants includes payments of appro ximately $17.4 million that
Allowance for Credit Losses [Text Block]	The following summarizes the activity within the allowance for credit losses related to mortgage notes, unfunded commitments and notes receivable for the three months ended March 31, 2022 (in thousands): Mortgage notes receivable Unfunded commitments - mortgage notes receivable Notes receivable Unfunded commitments - notes receivable Total Allowance for credit losses at December 31, 2021 $ 2,124 $ 76 $ 8,686 $ — $ 10,886 Credit loss (benefit) expense (323) (13) 30 — (306) Charge-offs — — — — — Recoveries — — — — — Allowance for credit losses at March 31, 2022 $ 1,801 $ 63 $ 8,716 $ — $ 10,580
Mortgage Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	Investment in mortgage notes, including related accrued interest receivable, at March 31, 2022 and December 31, 2021 consists of the following (in thousands): Outstanding principal amount of mortgage Carrying amount as of Unfunded commitments Description Year of Origination Interest Rate Maturity Date March 31, 2022 December 31, 2021 March 31, 2022 Attraction property Powells Point, North Carolina 2019 7.75 % 6/30/2025 28,864 28,695 28,243 — Fitness & wellness property Omaha, Nebraska 2017 7.85 % 1/3/2027 10,905 10,952 10,940 — Fitness & wellness property Merriam, Kansas 2019 7.55 % 7/31/2029 9,090 9,171 9,159 — Ski property Girdwood, Alaska 2019 8.20 % 12/31/2029 45,599 45,623 45,877 11,401 Fitness & wellness property Omaha, Nebraska 2016 7.85 % 6/30/2030 10,539 10,602 10,615 379 Experiential lodging property Nashville, Tennessee 2019 7.01 % 9/30/2031 71,223 71,277 70,896 — Eat & play property Austin, Texas 2012 11.31 % 6/1/2033 10,629 10,629 10,874 — Ski property West Dover and Wilmington, Vermont 2007 11.96 % 12/1/2034 51,050 51,049 51,047 — Four ski properties Ohio and Pennsylvania 2007 11.07 % 12/1/2034 37,562 37,538 37,519 — Ski property Chesterland, Ohio 2012 11.55 % 12/1/2034 4,550 4,529 4,516 — Ski property Hunter, New York 2016 8.88 % 1/5/2036 21,000 21,000 21,000 — Eat & play property Midvale, Utah 2015 10.25 % 5/31/2036 17,505 17,505 17,639 — Eat & play property West Chester, Ohio 2015 9.75 % 8/1/2036 18,068 18,066 18,198 — Fitness & wellness property Fort Collins, Colorado 2018 7.85 % 1/31/2038 10,292 10,048 10,277 — Early childhood education center Lake Mary, Florida 2019 7.98 % 5/9/2039 4,200 4,337 4,329 — Eat & play property Eugene, Oregon 2019 8.13 % 6/17/2039 14,700 15,018 14,996 — Early childhood education center Lithia, Florida 2017 8.58 % 10/31/2039 3,959 3,982 4,034 — $ 369,735 $ 370,021 $ 370,159 $ 11,780

Accounts Receivable, Net

Accounts Receivable, Net	3 Months Ended
	Mar. 31, 2022
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Accounts Receivable, Net	Accounts Receivable The following table summarizes the carrying amounts of accounts receivable as of March 31, 2022 and December 31, 2021 (in thousands): March 31, 2022 December 31, 2021 Receivable from tenants $ 19,731 $ 37,417 Receivable from non-tenants 2,102 2,237 Straight-line rent receivable 38,871 38,419 Total $ 60,704 $ 78,073 As of March 31, 2022, receivable from tenants includes payments of appro ximately $17.4 million that

Capital Markets Long Term Debt

Capital Markets Long Term Debt (Notes)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Long-term Debt [Text Block]	On January 14, 2022, the Company amended the note purchase agreement governing its private placement notes (Note Purchase Agreement) to, among other things: (i) amend certain financial and other covenants and provisions in the existing Note Purchase Agreement to conform generally to the changes beneficial to the Company in the corresponding covenants and provisions contained in the Company's Third Amended, Restated and Consolidated Credit Agreement, dated October 6, 2021, and (ii) amend certain financial and other covenants and provisions in the existing Note Purchase Agreement to reflect the prior termination of the Covenant Relief Period (as defined in the existing Note Purchase Agreement) and removal of related provisions.

Unconsolidated Real Estate Join

Unconsolidated Real Estate Joint Ventures (Notes)	3 Months Ended
	Mar. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments and Joint Ventures Disclosure [Text Block]	Unconsolidated Real Estate Joint VenturesAs of March 31, 2022 and December 31, 2021, the Company had a 65% investment interest in two unconsolidated real estate joint ventures related to two experiential lodging properties located in St. Petersburg Beach, Florida. The Company's partner, Gencom Acquisition, LLC and its affiliates, own the remaining 35% interest in the joint ventures. There are two separate joint ventures, one that holds the investment in the real estate of the experiential lodging properties and the other that holds lodging operations, which are facilitated by a management agreement with an eligible independent contractor. The Company's investment in the operating entity is held in a taxable REIT subsidiary (TRS). The Company accounts for its investment in these joint ventures under the equity method of accounting. As of March 31, 2022 and December 31, 2021, the Company had equity invest ments of $27.1 million an d $25.9 million, respectively, in these joint ventures. The joint venture that holds the real property has a secured mortgage loan of $85.0 million at March 31, 2022, that was due April 1, 2022 but the joint venture has temporarily extended the maturity date to July 1, 2022. The note can be extended for two additional one-year periods from the original maturity date upon the satisfaction of certain conditions. The mortgage loan bears interest at an annual rate equal to the greater of 6.00% or LIBOR plus 3.75%. Interest is payable monthly beginning on May 1, 2019 until the maturity date. The joint venture has an interest rate cap agreement to limit the variable portion of the interest rate (LIBOR) on this note to 3.0% from March 28, 2019 to April 1, 2023. The Company recognized gains of $1.2 million and losses of $1.5 million during the three months ended March 31, 2022 and 2021, respectively, and received no distributions during the three months ended March 31, 2022 and 2021 related to the equity investments in these joint ventures. As of March 31, 2022 and December 31, 2021, the Company's investments in these joint ventures were considered to be variable interest investments and the underlying entities are VIEs. The Company is not the primary beneficiary of the VIEs because the Company does not individually have the power to direct the activities that are most important to the joint ventures and accordingly, these investments are not consolidated. The Company's maximum exposure to loss at March 31, 2022, is its investment in the joint ventu res in the amount of $27.1 million. As of March 31, 2022 and December 31, 2021, the Company had a 95% investment interest in two unconsolidated real estate joint ventures related to experiential lodging located in Warrens, Wisconsin. T he Company's investments in these joint ventures were considered to be variable interest investments, however, the underlying entities are not VIEs. The Company's partner, TJO Warrens, LLC and its affiliates, owns the remaining 5% interest in the joint ventures. There are two separate joint ventures, one that holds the investment in the real estate of the experiential lodging property and the other that holds lodging operations, which are facilitated by a management agreement. The Company's investment in the operating entity is held in a TRS. The Company accounts for its investment in these joint ventures under the equity method of accounting because control over major decisions is shared. As of March 31, 2022 and December 31, 2021, the Company had equity invest ments of $8.8 million an d $10.1 million, respectively, in these joint ventures. The joint venture that holds the real property has a secured mortgage loan of $15.0 million at March 31, 2022 and provides for additional draws of approximately $9.6 million to fund renovations. The maturity date of this mortgage loan is September 15, 2031. The loan bears interest at an annual fixed rate of 4.00% with monthly interest payments required. Additionally, the Company has guaranteed the completion of the renovations in the amount of a pproximately $8.7 million, with $6.6 million remaining to fund at March 31, 2022 . The Company recognized losses of $1.3 million during the three months ended March 31, 2022 and received no distributions during the three months ended March 31, 2022 related to the equity investments in these joint ventures. In addition, as of both March 31, 2022 and December 31, 2021, the Company had equity inve stments of $0.7 million in unconsolidated joint ventures for three theatre projects located in China. The Company recognized losses of $10 thousand during the three months ended March 31, 2022 and income of $55 thousand during the three months ended March 31, 2021, and received dist ributions of $90 thousand fro m its investment in these joint ventures for the three months ended March 31, 2021. No distributions were received during the three months ended March 31, 2022.

Derivative Instruments

Derivative Instruments	3 Months Ended
	Mar. 31, 2022
Summary of Derivative Instruments [Abstract]
Derivative Instruments	Derivative InstrumentsAll 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 has elected not to offset its derivative position for purposes of balance sheet presentation and disclosure. The Compa ny had derivative assets of $0.6 million at March 31, 2022 a nd no derivative assets at December 31, 2021. The Company had derivative liabilities of $7.6 million and $4.9 million at March 31, 2022 and December 31, 2021, respectively. The Company has not posted or received collateral with its derivative counterparties as of March 31, 2022 or December 31, 2021. See Note 11 for disclosures relating to the fair value of the derivative instruments. 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 on foreign currency transactions 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 uses interest rate swaps as its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt or payment of variable-rate amounts from a counterparty which results in the Company recording net interest expense that is fixed over the life of the agreements without exchange of the underlying notional amount. At March 31, 2022, the Company had one interest rate swap agreement designated as a cash flow hedge of interest rate risk related to its variable rate secured bonds totaling $25.0 million. The interest rate swap agreement outstanding as of March 31, 2022 is summarized below: Fixed rate Notional Amount (in millions) Index Maturity 1.3925% $ 25.0 USD LIBOR September 30, 2024 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. 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, 2022, the Company estimates t hat during the twelve months end ing March 31, 2023, $0.1 million of gains will be reclassified from AOCI to other income. Cash Flow Hedges of Foreign Exchange Risk The Company is exposed to foreign currency exchange risk against its functional currency, USD, on CAD denominated cash flow from its four Canadian properties. The Company uses cross-currency swaps to mitigate its exposure to fluctuations in the USD-CAD exchange rate on cash inflows associated with these properties which should hedge a significant portion of the Company's expected CAD denominated cash flows. The Company entered into three USD-CAD cross-currency swaps that were effective July 1, 2020 with a fixed original notional value of $100.0 million CAD and $76.6 million USD. The net effect of these swaps is to lock in an exchange rate of $1.31 CAD per USD on approximately $7.2 million annual CAD denominated cash flows through June 2022. On April 12, 2022, the Company entered into three USD-CAD cross-currency swaps that will be effective July 1, 2022 with a total fixed original notional value of $150.0 million CAD and $118.7 million USD. The net effect of these swaps is to lock in an exchange rate of $1.27 CAD per USD on approximately $10.8 million annual CAD denominated cash flows through September 2024. Additionally, on April 29, 2022, the Company entered into two additional cross-currency swaps effective May 1, 2022 with a total fixed notional value of $200.0 million CAD and $156.0 million USD. The net effect of these swaps is to lock in exchange rate of $1.29 CAD per USD on approximately $4.5 million of additional annual CAD denominated cash flows through October 1, 2024. 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 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, 2022, the Company estimates t hat during the twelve months ending March 31, 2023, $0.1 million of losses wil l be reclassified from AOCI to other expense. Net Investment Hedges The Company is exposed to fluctuations in the USD-CAD exchange rate on its net investments in Canada. As such, the Company uses either currency forward agreements or cross-currency swaps to manage its exposure to changes in foreign exchange rates on certain of its foreign net investments. As of March 31, 2022, the Company had the following cross-currency swaps designated as net investment hedges: Fixed rate Notional Amount (in millions, CAD) Maturity $1.32 CAD per USD $ 100.0 July 1, 2023 $1.32 CAD per USD 100.0 July 1, 2023 Total $ 200.0 The cross-currency swaps also have a monthly settlement feature locked in at an exchange rate of $1.32 CAD per USD on $4.5 million of CAD annual cash flows, the net effect of which is an excluded component from the effectiveness testing of this hedge. On April 29, 2022, the Company de-designated these CAD to USD cross-currency swaps in conjunction with entering into new agreements, effectively terminating the cross-currency swap agreements. These contracts were previously designated as net investment hedges. The Company paid $3.8 million in connection with the settlement of the CAD to USD cross-currency swap agreements. On April 29, 2022, the Company entered into two forward contracts with a fixed notional value of $200.0 million CAD and $156.0 million USD with a settlement date of October 1, 2024. The exchange rate of this forward contract is approximately $1.28 CAD per USD. For qualifying 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. Gains and losses on the derivative representing hedge components excluded from the assessment of effectiveness are recognized over the life of the hedge on a systematic and rational basis, as documented at hedge inception in accordance with the Company's accounting policy election. The earnings recognition of excluded components are presented in other 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, 2022 and 2021. Effect of Derivative Instruments on the Consolidated Statements of Changes in Equity and Comprehensive Income for the Three Months Ended March 31, 2022 and 2021 (Dollars in thousands) Three Months Ended March 31, Description 2022 2021 Cash Flow Hedges Interest Rate Swaps Amount of Gain Recognized in AOCI on Derivative $ 825 $ 259 Amount of Expense Reclassified from AOCI into Earnings (1) (76) (2,033) Cross-Currency Swaps Amount of Loss Recognized in AOCI on Derivative (26) (93) Amount of Expense Reclassified from AOCI into Earnings (2) (54) (49) Net Investment Hedges Cross-Currency Swaps Amount of Loss Recognized in AOCI on Derivative (3,019) (1,786) Amount of Income Recognized in Earnings (2) (3) 99 102 Total Amount of Loss Recognized in AOCI on Derivatives $ (2,220) $ (1,620) Amount of Expense Reclassified from AOCI into Earnings (130) (2,082) Amount of Income Recognized in Earnings 99 102 Interest expense, net in accompanying consolidated statements of income (loss) and comprehensive income $ 33,260 $ 39,194 Other income in accompanying consolidated statements of income (loss) and comprehensive income $ 9,305 $ 678 (1) Included in "Interest expense, net" in the accompanying consolidated statements of income (loss) and comprehensive income for the three months ended March 31, 2022 and 2021. (2) Included in "Other income" in the accompanying consolidated statements of income (loss) and comprehensive income for the three months ended March 31, 2022 and 2021. (3) Amounts represent derivative gains excluded from the effectiveness testing. Credit-risk-related Contingent Features The Company has an agreement with its interest rate derivative counterparty that contains a provision where if the Company defaults on any of its obligations for borrowed money or credit in an amount exceeding $50.0 million 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, 2022, the fair value of the Company's derivatives in a liability position related to these agreements w as $7.6 million. If t he 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 va lue of $7.1 million. As of March 31, 2022, the Company had not posted any collateral related to these agreements and was not in breach of any provisions in these agreements.

Fair Value Disclosures

Fair Value Disclosures	3 Months Ended
	Mar. 31, 2022
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 value of interest rate swaps is 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, 2022, 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, 2022 and December 31, 2021 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, 2022 and December 31, 2021 (Dollars in thousands) Description Quoted Prices in Significant Significant Balance at March 31, 2022 Cross-Currency Swaps (1) $ — $ (7,618) $ — $ (7,618) Interest Rate Swap Agreements (2) — 639 — 639 December 31, 2021 Cross-Currency Swaps (1) $ — $ (4,626) $ — $ (4,626) Interest Rate Swap Agreements (1) — (262) — (262) (1) Included in "Accounts payable and accrued liabilities" in the accompanying consolidated balance sheets. (2) Included in "Other assets" in the accompanying consolidated balance sheets. Non-recurring fair value measurements The table below presents the Company's assets measured at fair value on a non-recurring basis as of March 31, 2022, aggregated by the level in the fair value hierarchy within which those measurements are classified. Assets Measured at Fair Value on a Non-Recurring Basis at March 31, 2022 and December 31, 2021 (Dollars in thousands) Description Quoted Prices in Significant Significant Balance at March 31, 2022 Real estate investments, net $ — $ 4,700 $ — $ 4,700 Other assets (1) — — — — December 31, 2021 Real estate investments, net $ — $ 6,956 $ — $ 6,956 Other assets (1) — — — — (1) Includes collateral dependent notes receivable, which are presented within "Other assets" in the accompanying consolidated balance sheets. As discussed further in Note 4, during the three months ended March 31, 2022, the Company recorded an impairment charge of $4.4 million related to real estate investments, net on one of its properties. Additionally, during the year ended December 31, 2021, the Company recorded impairment charge s of $2.7 million rel ated to real estate investments, net on two of its properties. Management estimated the fair values of these investments taking into account various factors including purchase offers, shortened hold periods and market conditions. The Company determined, based on the inputs, that the valuation of these properties with purchase offers were classified within Level 2 of the fair value hierarchy and were measured at fair value. 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, 2022 and December 31, 2021: 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, 2022, the Company had a carrying value of $370.0 million in fixed rate mortgage notes receivable outstanding, including related accrued interest and allowance for credit losses, with a weighted average interest rate of approximately 9.04%. The fixed rate mortgage notes bear interest at rates of 7.01% to 11.96%. Discounting the future cash flows for fixed rate mortgage notes receivable using rates of 7.50% to 9.25%, management estimates the fair value of the fixed rate mortgage notes receivable to be approximately $401.9 million with an estimated weighted average market rate of 7.98% at March 31, 2022. At December 31, 2021, the Company had a carrying value of $370.2 million in fixed rate mortgage notes receivable outstanding, including related accrued interest, with a weighted average interest rate of approximately 9.04%. The fixed rate mortgage notes bear interest at rates of 7.01% to 11.96%. Discounting the future cash flows for fixed rate mortgage notes receivable using rates of 7.50% to 9.25%, management estimates the fair value of the fixed rate mortgage notes receivable to be $400.1 million with an estimated weighted average market rate of 8.05% at December 31, 2021. 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, 2022, the Company had a carrying va lue of $25.0 million in variable rate debt outstanding with an average interest rate of approximately 0.55%. The carrying value of the variable rate debt outstanding approximated the fair value at March 31, 2022. At December 31, 2021, the Company had a carrying value of $25.0 million in variable rate debt outstanding with a weighted average interest rate of approximately 0.15%. The carrying value of the variable rate debt outstanding approximated the fair value at December 31, 2021. At both March 31, 2022 and December 31, 2021, the $25.0 million of variable rate debt outstanding, discussed above, had been effectively converted to a fixed rate by interest rate swap agreements. See Note 10 for additional information related to the Company's interest rate swap agreements. At March 31, 2022, the Company had a carrying value of $2.82 billion in fixed rate long-term debt outstanding with a weighted average interest rate of approximately 4.34%. Discounting the future cash flows for fixed rate debt using March 31, 2022 market rates of 4.21% to 4.92%, management estimates the fair value of the fixed rate debt to be approximately $2.75 billion with an estimated weighted average market rate of 4.69% at March 31, 2022. At December 31, 2021, the Company had a carrying value of $2.82 billion in fixed rate long-term debt outstanding with an average weighted interest rate of approximately 4.34%. Discounting the future cash flows for fixed rate debt using December 31, 2021 market rates of 2.25% to 4.56%, management estimates the fair value of the fixed rate debt to be approximately $2.93 billion with an estimated weighted average market rate of 3.43% at December 31, 2021.
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, 2022 and December 31, 2021 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, 2022 and December 31, 2021 (Dollars in thousands) Description Quoted Prices in Significant Significant Balance at March 31, 2022 Cross-Currency Swaps (1) $ — $ (7,618) $ — $ (7,618) Interest Rate Swap Agreements (2) — 639 — 639 December 31, 2021 Cross-Currency Swaps (1) $ — $ (4,626) $ — $ (4,626) Interest Rate Swap Agreements (1) — (262) — (262) (1) Included in "Accounts payable and accrued liabilities" in the accompanying consolidated balance sheets. (2) Included in "Other assets" in the accompanying consolidated balance sheets.
Fair Value Measurements, Nonrecurring [Table Text Block]	The table below presents the Company's assets measured at fair value on a non-recurring basis as of March 31, 2022, aggregated by the level in the fair value hierarchy within which those measurements are classified. Assets Measured at Fair Value on a Non-Recurring Basis at March 31, 2022 and December 31, 2021 (Dollars in thousands) Description Quoted Prices in Significant Significant Balance at March 31, 2022 Real estate investments, net $ — $ 4,700 $ — $ 4,700 Other assets (1) — — — — December 31, 2021 Real estate investments, net $ — $ 6,956 $ — $ 6,956 Other assets (1) — — — —

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2022
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, 2022 and 2021 (amounts in thousands except per share information): Three Months Ended March 31, 2022 Income Shares Per Share Basic EPS: Net income $ 42,192 Less: preferred dividend requirements (6,033) Net income available to common shareholders $ 36,159 74,843 $ 0.48 Diluted EPS: Net income available to common shareholders $ 36,159 74,843 Effect of dilutive securities: Share options and performance shares — 204 Net income available to common shareholders $ 36,159 75,047 $ 0.48 Three Months Ended March 31, 2021 Income Shares Per Share Basic EPS: Net income $ 3,380 Less: preferred dividend requirements (6,034) Net loss available to common shareholders $ (2,654) 74,627 $ (0.04) Diluted EPS: Net loss available to common shareholders $ (2,654) 74,627 Effect of dilutive securities: Share options and performance shares — — Net loss available to common shareholders $ (2,654) 74,627 $ (0.04) The effect of the potential common shares from the conversion of the Company’s convertible preferred shares and from the exercise of share options are included in diluted earnings per share if the effect is dilutive. Potential common shares from the performance shares are included in diluted earnings per share upon the satisfaction of certain performance and market conditions. These conditions are evaluated at each reporting period and if the conditions have been satisfied during the reporting period, the number of contingently issuable shares are included in the computation of diluted earnings per share. The following shares have an anti-dilutive effect and are therefore excluded from the calculation of diluted earnings per share: • The addit ional 2.2 million common shares that would result from the conversion of the Company’s 5.75% Series C cumulative convertible preferred shares and the corresponding add-back of the preferred dividends declared on those sh ares for both the three months ended March 31, 2022 and 2021. • The additional 1.7 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 for both the three months ended March 31, 2022 and 2021. • Outstanding options to purchase 89 thousand common shares at per share prices ranging from $44.44 to $76.63 for the three months ended March 31, 2022. • Outstanding options to purchase 114 thousand common shares at per share prices ranging from $44.44 to $76.63 for the three months ended March 31, 2021. • The effect of 102 thousand contingently issuable performance shares granted during 2021 for the three months ended March 31, 2021.

Equity Incentive Plans

Equity Incentive Plans	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement, Noncash Expense [Abstract]
Equity Incentive Plans	Equity Incentive Plans 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 3,950,000 common shares, options to purchase common shares and restricted share units, subject to adjustment in the event of certain capital events, may be granted. Additionally, the 2020 Long Term Incentive Plan (2020 LTIP) is a sub-plan under the Company's 2016 Equity Incentive Plan. Under the 2020 LTIP, the Company awards performance shares and restricted shares to the Company's executive officers. At March 31, 2022, there we re 2,022,200 shares available for grant under the 2016 Equity Incentive Plan. Share Options Share options 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. 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 Option price Weighted avg. Outstanding at December 31, 2021 108,671 $ 44.44 — $ 76.63 $ 56.79 Exercised (9,799) 44.62 — 47.15 46.30 Outstanding at March 31, 2022 98,872 $ 44.44 — $ 76.63 $ 57.83 The weighted average fair value of options granted was $20.34 during the three months ended March 31, 2021. No options were granted during the three months ended March 31, 2022. The intrinsic value of share options exercised was $38 thousand for the three months ended March 31, 2022. No options were exercised during the three months ended March 31, 2021. The following table summarizes outstanding and exercisable options at March 31, 2022: Options outstanding Options exercisable Exercise price range Options outstanding Weighted avg. life remaining Weighted avg. exercise price Aggregate intrinsic value (in thousands) Options exercisable Weighted avg. life remaining Weighted avg. exercise price Aggregate intrinsic value (in thousands) $44.44 - 49.99 11,510 5.1 10,132 2.0 50.00 - 59.99 31,008 2.3 31,008 2.3 60.00 - 69.99 52,198 4.3 50,754 3.6 70.00 - 76.63 4,156 5.8 3,671 5.7 98,872 3.8 $ 57.83 $ 176 95,565 3.1 $ 57.77 $ 162 Nonvested Shares A summary of the Company’s nonvested share activity and related information is as follows: Number of Weighted avg. Weighted avg. Outstanding at December 31, 2021 478,554 $ 56.57 Granted 243,286 46.65 Vested (215,096) 59.97 Forfeited (2,176) 46.98 Outstanding at March 31, 2022 504,568 $ 50.38 1.37 The holders of nonvested shares have voting rights and receive dividends from the date of grant. The fair value of the nonvested shares that vested was $10.2 million a nd $6.5 million for the three months ended March 31, 2022 and 2021, respectively. At March 31, 2022, unamortized share-based compensation expense related to nonvested shares was $15.4 million. Nonvested Performance Shares A summary of the Company's nonvested performance share activity and related information is as follows: Target Number of Outstanding at December 31, 2021 158,776 Granted 98,610 Outstanding at March 31, 2022 257,386 The number of common shares issuable upon settlement of the performance shares granted during the three months ended March 31, 2022, 2021 and 2020 will be based upon the Company's achievement level relative to the following performance measures at December 31, 2024, 2023 and 2022, respectively: 50% based upon the Company's Total Shareholder Return (TSR) relative to the TSRs of the Company's peer group companies, 25% based upon the Company's TSR relative to the TSRs of companies in the MSCI US REIT Index and 25% based upon the Company's Compounded Annual Growth Rate (CAGR) in AFFO per s hare over the three-year performance period. The Company's achievement level relative to the performance measures is assigned a specific payout percentage which is multiplied by a target number of performance shares. The performance shares based on relative TSR performance have market conditions and are valued using a Monte Carlo simulation model on the grant date, which resulted in a grant date fair value of approximately $6.0 million and $6.6 million for the three months ended March 31, 2022 and 2021, respectively. The estimated fair value is amortized to expense over the three-year performance periods, which end on December 31, 2024, 2023 and 2022 for performance shares granted in 2022, 2021 and 2020, respectively. The following assumptions were used in the Monte Carlo simulation for computing the grant date fair value of the performance shares with a market condition for the three months ended March 31, 2022: risk-free inte rest rate of 1.7%, volatility factors in the expected market price of the Company's common shares of 71% and an expected life of approximately three years. The performance shares based on growth in AFFO have a performance condition. The probability of achieving the performance condition is assessed at each reporting period. If it is deemed probable that the performance condition will be met, compensation cost will be recognized based on the closing price per share of the Company's common stock on the date of the grant multiplied by the number of awards expected to be earned. If it is deemed that it is not probable that the performance condition will be met, the Company will discontinue the recognition of compensation cost and any compensation cost previously recor ded will be reversed. At March 31, 2022, achievement of the performance condition was deemed probable for the performance shares granted during the three months ended March 31, 2022 and 2021 with an expected payout percentage of 200%, which resulted in a grant date fair value of approximately $2.3 million for each period. Achievement of the minimum performance condition for the performance shares granted during the three months ended March 31, 2020 was deemed not probable at March 31, 2022, resulting in no expected payout. At March 31, 2022, unamortized share-based compensation expense related to nonvested performance shares was $13.5 million. The performance shares accrue dividend equivalents which are paid only if common shares are issued upon settlement of the performance shares. During the three months ended March 31, 2022 and 2021, the Company accrued dividend equivalents expected to be paid on earned awards of $136 thousand and $9 thousand, respectively. Restricted Share Units A summary of the Company’s restricted share unit activity and related information is as follows: Number of Weighted avg. Weighted avg. Outstanding at December 31, 2021 43,306 $ 49.15 Granted 2,794 46.61 Vested — — Outstanding at March 31, 2022 46,100 $ 49.15 0.17 The holders of restricted share units receive dividend equivalents from the date of grant. At March 31, 2022, unamortized share-based compensation expense related to restricte d share units was $0.4 million.

Leases, Codification Topic 842

Leases, Codification Topic 842	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Lessor, Operating Leases	Operating Leases The Company’s real estate investments are leased under operating leases. In addition to its lessor arrangements on its real estate investments, as of both March 31, 2022 and December 31, 2021, the Company was le ssee in 51 ope rating ground leases. The Company's tenants, who are generally sub-tenants under these ground leases, are responsible for paying the rent under these ground leases. As of March 31, 2022, rental revenue from several of the Company's tenants, who are also sub-tenants under the ground leases, is being recognized on a cash basis. In most cases, the ground lease sub-tenants have continued to pay the rent under these ground leases. In addition, two of these properties do not currently have sub-tenants. In the event the tenant fails to pay the ground lease rent or if the property does not have sub-tenants, the Company is primarily responsible for the payment, assuming the Company does not sell or re-tenant the property. The Company is also the lessee in an operating lease of its executive office. The following table summarizes rental revenue, including sublease arrangements and lease costs, for the three months ended March 31, 2022 and 2021 (in thousands): Three Months Ended March 31, Classification 2022 2021 Operating leases Rental revenue $ 133,828 $ 97,672 Sublease income - operating ground leases Rental revenue 5,775 4,942 Lease costs Operating ground lease cost Property operating expense $ 5,969 $ 5,413 Operating office lease cost General and administrative expense 226 226

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Segment Information	Segment Information The Company groups its investments into two reportable operating segments: Experiential and Education. The financial information summarized below is presented by reportable operating segment (in thousands): Balance Sheet Data: As of March 31, 2022 Experiential Education Corporate/Unallocated Consolidated Total Assets $ 4,983,264 $ 500,369 $ 334,437 $ 5,818,070 As of December 31, 2021 Experiential Education Corporate/Unallocated Consolidated Total Assets $ 4,995,241 $ 505,086 $ 300,823 $ 5,801,150 Operating Data: Three Months Ended March 31, 2022 Experiential Education Corporate/Unallocated Consolidated Rental revenue $ 129,025 $ 10,578 $ — $ 139,603 Other income 9,210 — 95 9,305 Mortgage and other financing income 8,334 230 — 8,564 Total revenue 146,569 10,808 95 157,472 Property operating expense 13,693 (7) 253 13,939 Other expense 8,097 — — 8,097 Total investment expenses 21,790 (7) 253 22,036 Net operating income - before unallocated items 124,779 10,815 (158) 135,436 Reconciliation to Consolidated Statements of Income (Loss) and Comprehensive Income: General and administrative expense (13,224) Interest expense, net (33,260) Transaction costs (2,247) Credit loss benefit 306 Impairment charges (4,351) Depreciation and amortization (40,044) Equity in loss from joint ventures (106) Income tax expense (318) Net income 42,192 Preferred dividend requirements (6,033) Net income available to common shareholders of EPR Properties $ 36,159 Operating Data: Three Months Ended March 31, 2021 Experiential Education Corporate/Unallocated Consolidated Rental revenue $ 93,276 $ 9,338 $ — $ 102,614 Other income 329 — 349 678 Mortgage and other financing income 8,141 332 — 8,473 Total revenue 101,746 9,670 349 111,765 Property operating expense 14,992 82 239 15,313 Other expense 2,552 — — 2,552 Total investment expenses 17,544 82 239 17,865 Net operating income - before unallocated items 84,202 9,588 110 93,900 Reconciliation to Consolidated Statements of Income (Loss) and Comprehensive Income: General and administrative expense (11,336) Costs associated with loan refinancing or payoff (241) Interest expense, net (39,194) Transaction costs (548) Credit loss benefit 2,762 Depreciation and amortization (40,326) Equity in loss from joint ventures (1,431) Gain on sale of real estate 201 Income tax expense (407) Net income 3,380 Preferred dividend requirements (6,034) Net loss available to common shareholders of EPR Properties $ (2,654)

Other Commitments And Contingen

Other Commitments And Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Other Commitments And Contingencies	Other Commitments and Contingencies As of March 31, 2022 , the Company had 15 development projects with commitments to fund an aggregate of approximately $105.2 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. The Company has certain commitments related to its mortgage notes and notes receivable 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, 2022, the Company had two mortgage notes with commitments totaling approximately $11.8 million. If commitments are funded in the future, interest will be charged at rates consistent with the existing investments.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policy)	3 Months Ended
	Mar. 31, 2022
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, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. Amounts as of December 31, 2021 have been derived from the audited Consolidated Financial Statements as of that date and should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2021 filed with the Securities and Exchange Commission (SEC) on February 23, 2022. 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 equity method of accounting is applied to entities in which the Company is not the primary beneficiary as defined in the FASB ASC Topic on Consolidation (Topic 810) but can exercise influence over the entity with respect to its operations and major decisions.
Unusual Risks and Uncertainties [Table Text Block]	Risks and Uncertainties The Company continues to be subject to risks and uncertainties resulting from the COVID-19 pandemic. The COVID-19 pandemic severely impacted global economic activity and caused significant volatility and negative pressure in financial markets. In response to the COVID-19 pandemic, many jurisdictions within the United States and abroad instituted health and safety measures, including quarantines, mandated business and school closures and travel restrictions. As a result, the COVID-19 pandemic severely impacted experiential real estate properties, given that such properties involve congregate social activity and discretionary consumer spending . Although many of these health and safety measures have been lifted, the extent of the impact of the COVID-19 pandemic on the Company's business still remains highly uncertain and difficult to predict. As of March 31, 2022, the Company had no properties closed due to COVID-19 restrictions . The continuing impact of the COVID-19 pandemic on the Company’s business will depend on a number of factors, including, but not limited to, the scope, severity and duration of any resurgence of the pandemic (including COVID-19 variants), the actions taken to contain the outbreak or any resurgence or mitigate their impacts, the distribution and efficacy of vaccines and therapeutics, the ability of communities to achieve herd immunity, the public’s confidence in the health and safety measures implemented by the Company's tenants and borrowers, the continuing direct and indirect economic effects of the outbreak and containment measures, and the ability of the Company's tenants and borrowers to recover from the negative economic impacts of the pandemic as it subsides, and in many cases, service elevated levels of debt resulting from the pandemic, all of which are uncertain and cannot be predicted. During 2020 and 2021, the COVID-19 pandemic negatively affected the Company's business and could continue to have material adverse effects on the Company's financial condition, results of operations and cash flows. The Company considered the impact of, and recovery from, the COVID-19 pandemic on the assumptions and estimates used in determining the Company’s financial condition and results of operations for the three months ended March 31, 2022. The following were impacts to the Company's financial statements and business during the three months ended March 31, 2022 arising out of or relating to the COVID-19 pandemic : • The Company continued to recognize revenue on a cash basis for certain tenants including American-Multi Cinema, Inc. (AMC) and Regal Cinemas (Regal), a subsidiary of Cineworld Group. • As of March 31, 2022, t he Company has deferred amounts due from tenants of approxim atel y $17.4 million that are booked as receivables. Additionally, the Company has amounts due from tenants that were not booked as receivables because the full amounts were not deemed probable of collection as a result of the COVID-19 pandemic. The amounts not booked as receivables remain obligations of the tenants and will be recognized as revenue when received. During the three months ended March 31, 2022, the Company collected $1.6 million in deferred rent from cash basis tenants and from tenants for which the deferred payments were not previously recognized as revenue. In addition, during the three months ended March 31, 2022, the Company collected $10.2 million of deferred rent and interest from accrual basis tenants and borrowers that reduced related accounts and interest receivable. The repayment terms for all of these deferments vary by tenant.
Segment Reporting, Policy	Reportable Segments The Company has two reportable operating segments: Experiential and Education. The Experiential segment includes the following property types: theatres, eat & play (including seven theatres located in entertainment districts), attractions, ski, experiential lodging, gaming, cultural and fitness & wellness. The Education segment includes the following property types: early childhood education centers and private schools. See Note 15 for financial information related to these reportable segments.
Rental Properties	Real Estate Investments Real estate investments are carried at initial recorded value less accumulated depreciation. Costs incurred for the acquisition and development of the properties are capitalized. In addition, the Company capitalizes certain costs that relate to property under development including interest and a portion of internal legal personnel costs. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, which generally are estimated to be 30 years to 40 years for buildings, three years to 25 years for furniture, fixtures and equipment and 10 years to 20 years for site improvements. Tenant improvements, including allowances, are depreciated over the shorter of the lease term or the estimated useful life and leasehold interests are depreciated over the useful life of the underlying ground lease. Management reviews the Company's real estate investments, including operating lease right-of-use assets, for impairment whenever events or changes in circumstances indicate that the carrying value of a property may not be recoverable, which 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.
Business Combinations and Other Purchase of Business Transactions, Policy [Policy Text Block]	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. If the acquisition is determined to be an asset acquisition, the Company records the purchase price and other related costs incurred to the acquired tangible assets and identified intangible assets and liabilities on a relative fair value basis. In addition, costs incurred for asset acquisitions, including transaction costs, are capitalized. If the acquisition is determined to be a business combination, the Company records the fair value of acquired tangible assets and identified intangible assets and liabilities as well as any noncontrolling interest. Acquisition-related costs in connection with business combinations are expensed as incurred and included in "Transaction costs" in the accompanying consolidated statements of income (loss) and comprehensive income.
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 financin g costs of $35.4 million and $36.9 million as of March 31, 2022 and December 31, 2021, respectively, are shown as a reduction of debt. The deferred financing costs of $8.2 million and $8.7 million as of March 31, 2022 and December 31, 2021, respectively, related to the unsecured revolving credit facility are included in "Other assets" in the accompanying consolidated balance s
Revenue Recognition	Rental Revenue The Company leases real estate to its tenants under leases classified as operating leases. The Company's leases generally provide for rent escalations throughout the lease terms. Rents that are fixed are recognized on a straight-line basis over the lease term. Base rent escalations that include a variable component are recognized upon the occurrence of the specified event as defined in the Company's lease agreements. Many of the Company's leasing arrangements include options to extend the lease, which are not included in the minimum lease terms unless it is reasonably certain to be exercised. Straight-line rental revenue is subject to an evaluation for collectibility, and the Company records a direct write-off against rental revenue if collectibility of these future rents is not probable. For the three months ended March 31, 2022 and 2021, the Company recognized $0.6 million and $1.3 million, respectively, of straight-line rental revenue. There were no straight-line write-offs for the three months ended March 31, 2022 and 2021 . The Company has agreed to defer rent for a substantial portion of its customers in response to the impact of the COVID-19 pandemic on their operations. On April 10, 2020, the FASB issued a Staff Q&A on Topic 842 and Topic 840: Accounting for Lease Concessions Related to the Effects of the COVID-19 Pandemic. In reliance upon the FASB Staff Q&A, the Company has not treated qualifying deferrals or rent concessions during the period affected by the COVID-19 pandemic as lease modifications. While deferments for this and future periods delay rent payments, these deferments generally do not release customers from the obligation to pay the deferred amounts in the future. Deferred rent amounts are reflected in the Company's financial statements as accounts receivable if collection is determined to be probable or recognized when received as variable lease payments if collection is determined to not be probable. Certain agreements with tenants where remaining lease terms are extended, or other changes are made that do not qualify for the treatment in the FASB Staff Q&A, are treated as lease modifications. In these circumstances, upon an executed lease modification, if the tenant is not being recognized on a cash basis, the contractual rent reflected in accounts receivable and straight-line rent receivable will be amortized over the remaining term of the lease against rental revenue. In limited cases, customers may be entitled to the abatement of rent during governmentally imposed prohibitions on business operations which is recognized in the period to which the abatement relates, or the Company may provide rent concessions to tenants. In cases where the Company provides concessions to tenants to which they are not otherwise entitled, those amounts will be recognized in the period in which the concession is granted unless the changes are accounted for as lease modifications. Most of the Company’s lease contracts are triple-net leases, which require the tenants to make payments to third parties for lessor costs (such as property taxes and insurance) associated with the properties. In accordance with Topic 842, the Company does not include these lessee payments to third parties in rental revenue or property operating expenses. In certain situations, the Company pays these lessor costs directly to third parties and the tenants reimburse the Company. In accordance with Topic 842, these payments are presented on a gross basis in rental revenue and property operating expense. During the three months ended March 31, 2022 and 2021, the Company recogni zed $0.5 million and $1.0 million , respectively, in tenant reimbursements related to the gross up of these reimbursed expenses which are included in rental revenue. Certain of the Company's leases, particularly at its entertainment districts, require the tenants to make payments to the Company for property-related expenses such as common area maintenance. The Company has elected to combine these non-lease components with the lease components in rental revenue. For the three months ended March 31, 2022 and 2021, the amounts due for non-lease components included in rental revenue tota led $4.5 million and $3.8 million, respectively. In addition, most of the Company's tenants are subject to additional rents (above base rents) if gross revenues of the properties exceed certain thresholds defined in the lease agreements (percentage rents). Percentage rents are recognized at the time when specific trigger ing events occur as provided by the lease agreement. Rental revenue included percentage rents of $3.4 million and $2.0 million fo r the three months ended March 31, 2022 and 2021, respectively. The Company regularly evaluates the collectibility of its receivables on a lease-by-lease basis. 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, current economic conditions and changes in customer payment terms. When the collectibility of lease receivables or future lease payments are no longer probable, the Company records a direct write-off of the receivable to rental revenue and recognizes future rental revenue on a cash basis.
Property Sales, Policy [Policy Text Block]	Property Sales Sales of real estate properties are recognized when a contract exists 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.
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 less allowance for credit loss. Interest income is recognized using the effective interest method over the estimated life of the note. Interest income includes both the stated interest and the amortization or accretion of premiums or discounts (if any). In accordance with ASC Topic 326, Measurement of Credit Losses on Financial Instruments, the Company records allowance for credit loss to reflect that all mortgage notes and notes receivable have some inherent risk of loss regardless of credit quality, collateral, or other mitigating factors. While Topic 326 does not require any particular method for determining the reserves, it does specify that it should be based on relevant information about past events, including historical loss experience, current portfolio and market conditions, as well as reasonable and supportable forecasts for the term of each mortgage note or note receivable. The Company uses a forward looking commercial real estate forecasting tool to estimate its current expected credit losses (CECL) for each of its mortgage notes and notes receivable on a loan by loan basis. The CECL allowance required by Topic 326 is a valuation account that is deducted from the related mortgage note or note receivable. Certain of the Company’s mortgage notes and notes receivable include commitments to fund incremental amounts to its borrowers. These future funding commitments are also subject to the CECL model. The allowance related to future funding is recorded as a liability and is included in "Accounts payable and accrued liabilities" in the accompanying consolidated balance sheet. As permitted under Topic 326, the Company made an accounting policy election to not measure an allowance for credit losses for accrued interest receivables related to its mortgage notes and notes receivable. Accordingly, if accrued interest receivable is deemed to be uncollectible, the Company will record any necessary write-offs as a reversal of interest in come. There were no accrued interest write-offs for the three months ended March 31, 2022 and 2021. As of March 31, 2022, the Company believes that all outstanding accrued interest is collectible.
Mortgage and Other Financing Income [Policy Text Block]	Mortgage and Other Financing IncomeCertain of the Company's borrowers are subject to additional interest based on certain thresholds defined in the mortgage agreements (participating interest). Participating interest income is recognized at the time when specific parameters have been met as provided by the mortgage agreement. There was no participating interest income for the three months ended March 31, 2022 and 2021.
Concentrations Of Risk	Concentrations of Risk AMC, Topgolf USA (Topgolf) and Regal represented a significant portion of the Company's total revenue for the three months ended March 31, 2022 and 2021. The Company began recognizing revenue on a cash basis for AMC at the end of the first quarter of 2020 and for Regal at the end of the third quarter of 2020 and cash payments were reduced due to the impact of the COVID-19 pandemic. The following is a summary of the Company's total revenue derived from rental or interest payments from AMC, Topgolf and Regal (dollars in thousands): Three Months Ended March 31, 2022 2021 Total Revenue % of Company's Total Revenue Total Revenue % of Company's Total Revenue AMC $ 23,422 14.9 % $ 23,835 21.3 % Topgolf 22,383 14.2 % 20,486 18.3 % Regal 21,255 13.5 % 625 0.6 %
Compensation Related Costs, Policy	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.
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 (loss) and comprehensive income was $4 thousand for both the three months ended March 31, 2022 and 2021.
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 years or four years). Expense recognized related to nonvested shares and included in "General and administrative expense" in the accompanying consolidated statements of income (loss) and comprehensive income was $2.0 million and $2.2 million for the three months ended March 31, 2022 and 2021, respectively. Nonvested Performance Shares Issued to Employees The Company awards performance shares to the Company's executive officers pursuant to the Long-Term Incentive Plan. The performance shares contain both a market condition and a performance condition. The Company amortizes the expense related to the performance shares over the future performance period of three years. Expense recognized related to performance shares and included in "General and administrative expense" in the accompanying consolidated statements of income (loss) and comprehensive income was $1.6 million and $0.9 million for the three months ended March 31, 2022 and 2021
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 and included in "General and administrative expense" in the accompanying consolidated statements of income (loss) and comprehensive income was $0.6 million for both the three months ended March 31, 2022 and 2021.
Derivative Instruments	Derivative Instruments The Company uses derivative instruments to reduce exposure to fluctuations in foreign currency exchange rates and variable interest rates. 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 foreign currency risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows are considered cash flow hedges. 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 hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. For its net investment hedges that hedge the foreign currency exposure of its Canadian investments, the Company has elected to assess hedge effectiveness using a method based on changes in spot exchange rates and record the changes in the fair value amounts excluded from the assessment of effectiveness into earnings on a systematic and rational basis. 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. If hedge accounting is not applied, realized and unrealized gains or losses are reported in earnings. 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 March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848) . The ASU contains practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts. The guidance in ASU 2020-04 is optional and may be elected over time as reference rate reform activities occur. During the year ended December 31, 2020, the Company elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. On March 5, 2021, the Financial Conduct Authority ("FCA") announced that the USD LIBOR will no longer be published after June 30, 2023. At March 31, 2022, the Company had 10 agreements (including debt, derivative, mortgage note and lease agreements) that are indexed to LIBOR, of which three mature prior to June 30, 2023. The Company is monitoring and evaluating the related risks with transitioning these contracts to a replacement index. In March 2022, the FASB issued ASU No. 2022-02, Financial Instruments - Credit Losses (Topic 326), Troubled Debt Restructurings and Vintage Disclosures.

Rental Properties (Tables)

Rental Properties (Tables)	3 Months Ended
	Mar. 31, 2022
Real Estate [Abstract]
Summary Of Carrying Amounts Of Rental Properties	The following table summarizes the carrying amounts of real estate investments as of March 31, 2022 and December 31, 2021 (in thousands): March 31, 2022 December 31, 2021 Buildings and improvements $ 4,580,400 $ 4,523,052 Furniture, fixtures & equipment 108,454 108,907 Land 1,229,363 1,222,149 Leasehold interests 26,987 26,717 5,945,204 5,880,825 Accumulated depreciation (1,206,317) (1,167,734) Total $ 4,738,887 $ 4,713,091

Accounts Receivable, Net (Table

Accounts Receivable, Net (Tables)	3 Months Ended
	Mar. 31, 2022
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Schedule Of Accounts Receivable	The following table summarizes the carrying amounts of accounts receivable as of March 31, 2022 and December 31, 2021 (in thousands): March 31, 2022 December 31, 2021 Receivable from tenants $ 19,731 $ 37,417 Receivable from non-tenants 2,102 2,237 Straight-line rent receivable 38,871 38,419 Total $ 60,704 $ 78,073 As of March 31, 2022, receivable from tenants includes payments of appro ximately $17.4 million that

Capital Markets Issuance of Sha

Capital Markets Issuance of Shares (Tables)	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Common And Preferred Shares Disclosure [Text Block]	During the three months ended March 31, 2022, the Company declared cash dividends totaling $0.775 per common share. Additionally, d uring the three months ended March 31, 2022, the Board declared cash dividends of $0.359375 per share on each of the Company's 5.75% Series C cumulative convertible preferred shares and the Company's 5.75% Series G cumulative redeemable preferred shares and cash dividends of $0.5625 per share on the Company's 9.00% Series E cumulative convertible preferred shares.

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2022
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, 2022 and 2021. Effect of Derivative Instruments on the Consolidated Statements of Changes in Equity and Comprehensive Income for the Three Months Ended March 31, 2022 and 2021 (Dollars in thousands) Three Months Ended March 31, Description 2022 2021 Cash Flow Hedges Interest Rate Swaps Amount of Gain Recognized in AOCI on Derivative $ 825 $ 259 Amount of Expense Reclassified from AOCI into Earnings (1) (76) (2,033) Cross-Currency Swaps Amount of Loss Recognized in AOCI on Derivative (26) (93) Amount of Expense Reclassified from AOCI into Earnings (2) (54) (49) Net Investment Hedges Cross-Currency Swaps Amount of Loss Recognized in AOCI on Derivative (3,019) (1,786) Amount of Income Recognized in Earnings (2) (3) 99 102 Total Amount of Loss Recognized in AOCI on Derivatives $ (2,220) $ (1,620) Amount of Expense Reclassified from AOCI into Earnings (130) (2,082) Amount of Income Recognized in Earnings 99 102 Interest expense, net in accompanying consolidated statements of income (loss) and comprehensive income $ 33,260 $ 39,194 Other income in accompanying consolidated statements of income (loss) and comprehensive income $ 9,305 $ 678 (1) Included in "Interest expense, net" in the accompanying consolidated statements of income (loss) and comprehensive income for the three months ended March 31, 2022 and 2021. (2) Included in "Other income" in the accompanying consolidated statements of income (loss) and comprehensive income for the three months ended March 31, 2022 and 2021.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2022
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, 2022 and 2021 (amounts in thousands except per share information): Three Months Ended March 31, 2022 Income Shares Per Share Basic EPS: Net income $ 42,192 Less: preferred dividend requirements (6,033) Net income available to common shareholders $ 36,159 74,843 $ 0.48 Diluted EPS: Net income available to common shareholders $ 36,159 74,843 Effect of dilutive securities: Share options and performance shares — 204 Net income available to common shareholders $ 36,159 75,047 $ 0.48 Three Months Ended March 31, 2021 Income Shares Per Share Basic EPS: Net income $ 3,380 Less: preferred dividend requirements (6,034) Net loss available to common shareholders $ (2,654) 74,627 $ (0.04) Diluted EPS: Net loss available to common shareholders $ (2,654) 74,627 Effect of dilutive securities: Share options and performance shares — — Net loss available to common shareholders $ (2,654) 74,627 $ (0.04)

Equity Incentive Plans (Tables)

Equity Incentive Plans (Tables)	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement, Noncash Expense [Abstract]
Summary Of Share Option Activity	A summary of the Company’s share option activity and related information is as follows: Number of Option price Weighted avg. Outstanding at December 31, 2021 108,671 $ 44.44 — $ 76.63 $ 56.79 Exercised (9,799) 44.62 — 47.15 46.30 Outstanding at March 31, 2022 98,872 $ 44.44 — $ 76.63 $ 57.83
Summary Of Outstanding Options	The following table summarizes outstanding and exercisable options at March 31, 2022: Options outstanding Options exercisable Exercise price range Options outstanding Weighted avg. life remaining Weighted avg. exercise price Aggregate intrinsic value (in thousands) Options exercisable Weighted avg. life remaining Weighted avg. exercise price Aggregate intrinsic value (in thousands) $44.44 - 49.99 11,510 5.1 10,132 2.0 50.00 - 59.99 31,008 2.3 31,008 2.3 60.00 - 69.99 52,198 4.3 50,754 3.6 70.00 - 76.63 4,156 5.8 3,671 5.7 98,872 3.8 $ 57.83 $ 176 95,565 3.1 $ 57.77 $ 162
Summary Of Nonvested Share Activity	A summary of the Company’s nonvested share activity and related information is as follows: Number of Weighted avg. Weighted avg. Outstanding at December 31, 2021 478,554 $ 56.57 Granted 243,286 46.65 Vested (215,096) 59.97 Forfeited (2,176) 46.98 Outstanding at March 31, 2022 504,568 $ 50.38 1.37 The holders of nonvested shares have voting rights and receive dividends from the date of grant. The fair value of the nonvested shares that vested was $10.2 million a nd $6.5 million for the three months ended March 31, 2022 and 2021, respectively. At March 31, 2022, unamortized share-based compensation expense related to nonvested shares was $15.4 million. Nonvested Performance Shares A summary of the Company's nonvested performance share activity and related information is as follows: Target Number of Outstanding at December 31, 2021 158,776 Granted 98,610 Outstanding at March 31, 2022 257,386 The number of common shares issuable upon settlement of the performance shares granted during the three months ended March 31, 2022, 2021 and 2020 will be based upon the Company's achievement level relative to the following performance measures at December 31, 2024, 2023 and 2022, respectively: 50% based upon the Company's Total Shareholder Return (TSR) relative to the TSRs of the Company's peer group companies, 25% based upon the Company's TSR relative to the TSRs of companies in the MSCI US REIT Index and 25% based upon the Company's Compounded Annual Growth Rate (CAGR) in AFFO per s hare over the three-year performance period. The Company's achievement level relative to the performance measures is assigned a specific payout percentage which is multiplied by a target number of performance shares. The performance shares based on relative TSR performance have market conditions and are valued using a Monte Carlo simulation model on the grant date, which resulted in a grant date fair value of approximately $6.0 million and $6.6 million for the three months ended March 31, 2022 and 2021, respectively. The estimated fair value is amortized to expense over the three-year performance periods, which end on December 31, 2024, 2023 and 2022 for performance shares granted in 2022, 2021 and 2020, respectively. The following assumptions were used in the Monte Carlo simulation for computing the grant date fair value of the performance shares with a market condition for the three months ended March 31, 2022: risk-free inte rest rate of 1.7%, volatility factors in the expected market price of the Company's common shares of 71% and an expected life of approximately three years. The performance shares based on growth in AFFO have a performance condition. The probability of achieving the performance condition is assessed at each reporting period. If it is deemed probable that the performance condition will be met, compensation cost will be recognized based on the closing price per share of the Company's common stock on the date of the grant multiplied by the number of awards expected to be earned. If it is deemed that it is not probable that the performance condition will be met, the Company will discontinue the recognition of compensation cost and any compensation cost previously recor ded will be reversed. At March 31, 2022, achievement of the performance condition was deemed probable for the performance shares granted during the three months ended March 31, 2022 and 2021 with an expected payout percentage of 200%, which resulted in a grant date fair value of approximately $2.3 million for each period. Achievement of the minimum performance condition for the performance shares granted during the three months ended March 31, 2020 was deemed not probable at March 31, 2022, resulting in no expected payout. At March 31, 2022, unamortized share-based compensation expense related to nonvested performance shares was $13.5 million.
Summary Of Restricted Share Unit Activity	A summary of the Company’s restricted share unit activity and related information is as follows: Number of Weighted avg. Weighted avg. Outstanding at December 31, 2021 43,306 $ 49.15 Granted 2,794 46.61 Vested — — Outstanding at March 31, 2022 46,100 $ 49.15 0.17

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Schedule of Reportable Operating Segments	Segment Information The Company groups its investments into two reportable operating segments: Experiential and Education. The financial information summarized below is presented by reportable operating segment (in thousands): Balance Sheet Data: As of March 31, 2022 Experiential Education Corporate/Unallocated Consolidated Total Assets $ 4,983,264 $ 500,369 $ 334,437 $ 5,818,070 As of December 31, 2021 Experiential Education Corporate/Unallocated Consolidated Total Assets $ 4,995,241 $ 505,086 $ 300,823 $ 5,801,150 Operating Data: Three Months Ended March 31, 2022 Experiential Education Corporate/Unallocated Consolidated Rental revenue $ 129,025 $ 10,578 $ — $ 139,603 Other income 9,210 — 95 9,305 Mortgage and other financing income 8,334 230 — 8,564 Total revenue 146,569 10,808 95 157,472 Property operating expense 13,693 (7) 253 13,939 Other expense 8,097 — — 8,097 Total investment expenses 21,790 (7) 253 22,036 Net operating income - before unallocated items 124,779 10,815 (158) 135,436 Reconciliation to Consolidated Statements of Income (Loss) and Comprehensive Income: General and administrative expense (13,224) Interest expense, net (33,260) Transaction costs (2,247) Credit loss benefit 306 Impairment charges (4,351) Depreciation and amortization (40,044) Equity in loss from joint ventures (106) Income tax expense (318) Net income 42,192 Preferred dividend requirements (6,033) Net income available to common shareholders of EPR Properties $ 36,159 Operating Data: Three Months Ended March 31, 2021 Experiential Education Corporate/Unallocated Consolidated Rental revenue $ 93,276 $ 9,338 $ — $ 102,614 Other income 329 — 349 678 Mortgage and other financing income 8,141 332 — 8,473 Total revenue 101,746 9,670 349 111,765 Property operating expense 14,992 82 239 15,313 Other expense 2,552 — — 2,552 Total investment expenses 17,544 82 239 17,865 Net operating income - before unallocated items 84,202 9,588 110 93,900 Reconciliation to Consolidated Statements of Income (Loss) and Comprehensive Income: General and administrative expense (11,336) Costs associated with loan refinancing or payoff (241) Interest expense, net (39,194) Transaction costs (548) Credit loss benefit 2,762 Depreciation and amortization (40,326) Equity in loss from joint ventures (1,431) Gain on sale of real estate 201 Income tax expense (407) Net income 3,380 Preferred dividend requirements (6,034) Net loss available to common shareholders of EPR Properties $ (2,654)

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)segment	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)
Operating Segments
Number of Reportable Operating Segments | segment	2
Revenue Recognition [Abstract]
Straight Line Rent	$ 600	$ 1,300
Straight line rent write off	0	0
Concentrations of Risk [Abstract]
Operating Lease, Lease Income	139,603	102,614
Share-based Payment Arrangement, Noncash Expense [Abstract]
Deferred Rent Receivables, Net	17,400
Collections, Deferred Rent, Cash Basis Tenants	1,600
Collections, Deferred Rent, Accrual Basis Tenants	10,200
Deferred Costs	35,400		$ 36,900
Recovery of Direct Costs	4,500	3,800
Operating Lease, Percentage Revenue	$ 3,400	2,000
number of theatres in entertainment districts | segment	7
Mortgage and other participating interest income	$ 0	0
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans	0	0
triple-net lessor costs [Member]
Share-based Payment Arrangement, Noncash Expense [Abstract]
Recovery of Direct Costs	$ 500	1,000
London Interbank Offered Rate (LIBOR)
Share-based Payment Arrangement, Noncash Expense [Abstract]
Number of agreements	10
London Interbank Offered Rate (LIBOR) | Short-term Debt
Share-based Payment Arrangement, Noncash Expense [Abstract]
Number of agreements	3
American Multi-Cinema, Inc. [Member]
Concentrations of Risk [Abstract]
Operating Lease, Lease Income	$ 23,422	$ 23,835
Percentage of lease revenue in total revenue	14.90%	21.30%
TopGolf [Member]
Concentrations of Risk [Abstract]
Operating Lease, Lease Income	$ 22,383	$ 20,486
Percentage of lease revenue in total revenue	14.20%	18.30%
Regal [Member]
Concentrations of Risk [Abstract]
Operating Lease, Lease Income	$ 21,255	$ 625
Percentage of lease revenue in total revenue	13.50%	0.60%
Restricted Share Units [Member] | Non-Employee Trustees [Member]
Share-based Payment Arrangement, Noncash Expense [Abstract]
Share based compensation expense related to employees and trustees	$ 600	$ 600
Performance Shares [Member]
Share-based Payment Arrangement, Noncash Expense [Abstract]
Share based compensation, future vesting period minimum (in years)	3 years
Share based compensation expense related to employees and trustees	$ 1,600	900
Restricted Stock [Member]
Share-based Payment Arrangement, Noncash Expense [Abstract]
Share based compensation expense related to employees and trustees	$ 2,000	2,200
Restricted Stock [Member] | Minimum [Member]
Share-based Payment Arrangement, Noncash Expense [Abstract]
Share based compensation, future vesting period minimum (in years)	3 years
Restricted Stock [Member] | Maximum [Member]
Share-based Payment Arrangement, Noncash Expense [Abstract]
Share based compensation, future vesting period minimum (in years)	4 years
Share Options [Member]
Share-based Payment Arrangement, Noncash Expense [Abstract]
Share based compensation, future vesting period minimum (in years)	4 years
Stock-option expense	$ 4	$ 4
Revolving Credit Facility [Member]
Share-based Payment Arrangement, Noncash Expense [Abstract]
Deferred Costs	$ 8,200		$ 8,700
Building [Member] | Minimum [Member]
Share-based Payment Arrangement, Noncash Expense [Abstract]
Property, Plant and Equipment, Useful Life	30 years
Building [Member] | Maximum [Member]
Share-based Payment Arrangement, Noncash Expense [Abstract]
Property, Plant and Equipment, Useful Life	40 years
Furniture, fixtures & equipment [Member] | Minimum [Member]
Share-based Payment Arrangement, Noncash Expense [Abstract]
Property, Plant and Equipment, Useful Life	3 years
Furniture, fixtures & equipment [Member] | Maximum [Member]
Share-based Payment Arrangement, Noncash Expense [Abstract]
Property, Plant and Equipment, Useful Life	25 years
Building Improvements [Member] | Minimum [Member]
Share-based Payment Arrangement, Noncash Expense [Abstract]
Property, Plant and Equipment, Useful Life	10 years
Building Improvements [Member] | Maximum [Member]
Share-based Payment Arrangement, Noncash Expense [Abstract]
Property, Plant and Equipment, Useful Life	20 years

Rental Properties (Summary Of C

Rental Properties (Summary Of Carrying Amounts Of Rental Properties) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Real Estate Properties [Line Items]
Carrying amounts of rental properties	$ 5,945,204		$ 5,880,825
Accumulated depreciation	(1,206,317)		(1,167,734)
Real Estate Investment Property, Net	4,738,887		4,713,091
Depreciation expense on rental properties	38,800	$ 38,900
Building and improvements [Member]
Real Estate Properties [Line Items]
Carrying amounts of rental properties	4,580,400		4,523,052
Furniture, fixtures & equipment [Member]
Real Estate Properties [Line Items]
Carrying amounts of rental properties	108,454		108,907
Land [Member]
Real Estate Properties [Line Items]
Carrying amounts of rental properties	1,229,363		1,222,149
Leaseholds and Leasehold Improvements [Member]
Real Estate Properties [Line Items]
Carrying amounts of rental properties	$ 26,987		$ 26,717

Investments and Dispositions (D

Investments and Dispositions (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)
Real Estate Properties [Line Items]
Payments to Acquire Productive Assets	$ 20,726	$ 26,847
Experiential Reportable Operating Segment [Member]
Real Estate Properties [Line Items]
Payments to Acquire Property, Plant, and Equipment	$ 24,400
Experiential Reportable Operating Segment [Member] | Fitness and wellness
Real Estate Properties [Line Items]
Number of properties acquired (in properties)	1
Payments to Acquire Productive Assets	$ 19,900

Investment in Mortgage Notes an

Investment in Mortgage Notes and Notes Receivable (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)	Dec. 31, 2021USD ($)
Financing Receivable, Allowance for Credit Loss [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Face Amount of Mortgages	$ 369,735
Mortgage Loans on Real Estate, Commercial and Consumer, Net	370,021	$ 370,159
Mortgage Note and Notes Receivable Commitments	11,800
Notes Receivable	7,200	7,300
Financing Receivable, Allowance for Credit Loss	10,580	10,886
Provision for Loan, Lease, and Other Losses	(306)
Financing Receivable, Allowance for Credit Loss, Writeoff	0
Financing Receivable, Allowance for Credit Loss, Recovery	$ 0
Note, 8.0%, due May 2, 2024 [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of Notes Receivable	1
Provision for Loan, Lease, and Other Losses	$ 8,600
Mortgage Receivable [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Mortgage Note and Notes Receivable Commitments	11,780
Financing Receivable, Allowance for Credit Loss	1,801	2,124
Provision for Loan, Lease, and Other Losses	(323)
Financing Receivable, Allowance for Credit Loss, Writeoff	0
Financing Receivable, Allowance for Credit Loss, Recovery	$ 0
Mortgage Receivable [Member] | Mortgage Note, 7.75%, due June 30, 2025 [Member] | Attraction Properties [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	7.75%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Face Amount of Mortgages	$ 28,864
Mortgage Loans on Real Estate, Commercial and Consumer, Net	28,695	28,243
Mortgage Note and Notes Receivable Commitments	$ 0
Mortgage Receivable [Member] | Mortgage Note, 7.85%, due January 3, 2027 [Member] | Fitness & Wellness Properties [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	7.85%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Face Amount of Mortgages	$ 10,905
Mortgage Loans on Real Estate, Commercial and Consumer, Net	10,952	10,940
Mortgage Note and Notes Receivable Commitments	$ 0
Mortgage Receivable [Member] | Mortgage Note, 7.55%, due July 31, 2029 [Member] | Fitness & Wellness Properties [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	7.55%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Face Amount of Mortgages	$ 9,090
Mortgage Loans on Real Estate, Commercial and Consumer, Net	9,171	9,159
Mortgage Note and Notes Receivable Commitments	$ 0
Mortgage Receivable [Member] | Mortgage Note, 8.23%, December 31, 2029 [Member] | Ski Properties [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	8.20%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Face Amount of Mortgages	$ 45,599
Mortgage Loans on Real Estate, Commercial and Consumer, Net	45,623	45,877
Mortgage Note and Notes Receivable Commitments	$ 11,401
Mortgage Receivable [Member] | Mortgage Note, 7.85%, due June 30, 2030 [Member] | Fitness & Wellness Properties [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	7.85%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Face Amount of Mortgages	$ 10,539
Mortgage Loans on Real Estate, Commercial and Consumer, Net	10,602	10,615
Mortgage Note and Notes Receivable Commitments	$ 379
Mortgage Receivable [Member] | Mortgage Note, 7.01%, due September 30, 2031 [Member] | Experiential Lodging Properties [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	7.01%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Face Amount of Mortgages	$ 71,223
Mortgage Loans on Real Estate, Commercial and Consumer, Net	71,277	70,896
Mortgage Note and Notes Receivable Commitments	$ 0
Mortgage Receivable [Member] | Mortgage Note, 11.31%, due June 1, 2033 [Member] | Eat & Play Properties [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	11.31%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Face Amount of Mortgages	$ 10,629
Mortgage Loans on Real Estate, Commercial and Consumer, Net	10,629	10,874
Mortgage Note and Notes Receivable Commitments	$ 0
Mortgage Receivable [Member] | Mortgage Note, 11.96%, due December 1, 2034 [Member] | Ski Properties [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	11.96%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Face Amount of Mortgages	$ 51,050
Mortgage Loans on Real Estate, Commercial and Consumer, Net	51,049	51,047
Mortgage Note and Notes Receivable Commitments	$ 0
Mortgage Receivable [Member] | Mortgage Note, 11.07%, due December 1, 2034 [Member] | Ski Properties [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	11.07%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Face Amount of Mortgages	$ 37,562
Mortgage Loans on Real Estate, Commercial and Consumer, Net	37,538	37,519
Mortgage Note and Notes Receivable Commitments	$ 0
Mortgage Receivable [Member] | Mortgage Note, 11.55%, due December 1, 2034 [Member] | Ski Properties [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	11.55%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Face Amount of Mortgages	$ 4,550
Mortgage Loans on Real Estate, Commercial and Consumer, Net	4,529	4,516
Mortgage Note and Notes Receivable Commitments	$ 0
Mortgage Receivable [Member] | Mortgage Note, 8.88%, due January 5, 2036 [Member] | Ski Properties [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	8.88%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Face Amount of Mortgages	$ 21,000
Mortgage Loans on Real Estate, Commercial and Consumer, Net	21,000	21,000
Mortgage Note and Notes Receivable Commitments	$ 0
Mortgage Receivable [Member] | Mortgage Note, due May 31, 2036 [Member] | Eat & Play Properties [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	10.25%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Face Amount of Mortgages	$ 17,505
Mortgage Loans on Real Estate, Commercial and Consumer, Net	17,505	17,639
Mortgage Note and Notes Receivable Commitments	$ 0
Mortgage Receivable [Member] | Mortgage Note, 9.75% due August 1, 2036 [Member] | Eat & Play Properties [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	9.75%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Face Amount of Mortgages	$ 18,068
Mortgage Loans on Real Estate, Commercial and Consumer, Net	18,066	18,198
Mortgage Note and Notes Receivable Commitments	$ 0
Mortgage Receivable [Member] | Mortgage Note, 7.85% due January 31, 2038 [Member] | Fitness & Wellness Properties [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	7.85%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Face Amount of Mortgages	$ 10,292
Mortgage Loans on Real Estate, Commercial and Consumer, Net	10,048	10,277
Mortgage Note and Notes Receivable Commitments	$ 0
Mortgage Receivable [Member] | Mortgage Note, 7.98%, due May 9, 2039 [Member] | early childhood education center [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	7.98%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Face Amount of Mortgages	$ 4,200
Mortgage Loans on Real Estate, Commercial and Consumer, Net	4,337	4,329
Mortgage Note and Notes Receivable Commitments	$ 0
Mortgage Receivable [Member] | Mortgage Note, 8.125%, due June 17, 2039 [Member] | Eat & Play Properties [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	8.13%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Face Amount of Mortgages	$ 14,700
Mortgage Loans on Real Estate, Commercial and Consumer, Net	15,018	14,996
Mortgage Note and Notes Receivable Commitments	$ 0
Mortgage Receivable [Member] | Mortgage Note, 8.58%, due October 31, 2019 [Member] | early childhood education center [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	8.58%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Face Amount of Mortgages	$ 3,959
Mortgage Loans on Real Estate, Commercial and Consumer, Net	3,982	4,034
Mortgage Note and Notes Receivable Commitments	0
Unfunded Loan Commitment [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss	63	76
Provision for Loan, Lease, and Other Losses	(13)
Financing Receivable, Allowance for Credit Loss, Writeoff	0
Financing Receivable, Allowance for Credit Loss, Recovery	0
Notes Receivable [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss	8,716	8,686
Provision for Loan, Lease, and Other Losses	30
Financing Receivable, Allowance for Credit Loss, Writeoff	0
Financing Receivable, Allowance for Credit Loss, Recovery	0
Note Receivable Unfunded Loan Commitment
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss	0	$ 0
Provision for Loan, Lease, and Other Losses	0
Financing Receivable, Allowance for Credit Loss, Writeoff	0
Financing Receivable, Allowance for Credit Loss, Recovery	$ 0

Accounts Receivable, Net (Sched

Accounts Receivable, Net (Schedule Of Accounts Receivable) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Straight-Line Rent Receivable	$ 38,871	$ 38,419
Total	60,704	78,073
Deferred Rent Receivables, Net	17,400
Tenants [Member]
Total	19,731	37,417
Non-Tenants [Member]
Carrying amounts of accounts receivable	$ 2,102	$ 2,237

Capital Markets (Details)

Capital Markets (Details) - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Class of Stock [Line Items]
Common Stock, Dividends, Per Share, Declared	$ 0.775
Series C Preferred Shares [Member]
Class of Stock [Line Items]
Preferred Stock, Dividends Per Share, Declared	$ 0.359375
Preferred Stock, Dividend Rate, Percentage	5.75%	5.75%
Series E Preferred Shares [Member]
Class of Stock [Line Items]
Preferred Stock, Dividends Per Share, Declared	$ 0.5625
Preferred Stock, Dividend Rate, Percentage	9.00%	9.00%
Series G Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, Dividend Rate, Percentage	5.75%

Unconsolidated Real Estate Jo_2

Unconsolidated Real Estate Joint Ventures (Details)	3 Months Ended
	Mar. 31, 2022USD ($)propertiesyears	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)
Schedule of Equity Method Investments [Line Items]
Equity in loss from joint ventures	$ (106,000)	$ (1,431,000)
Proceeds from Equity Method Investment, Distribution	0	90,000
St. Petersburg Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Equity in loss from joint ventures	1,200,000	1,500,000
Proceeds from Equity Method Investment, Distribution	0
Real Estate Investments, Unconsolidated Real Estate and Other Joint Ventures	$ 27,100,000		$ 25,900,000
Equity Method Investment, Ownership Percentage	65.00%
Equity Method Investment, Partner's Ownership Percentage	35.00%
Number of unconsolidated real estate joint ventures | properties	2
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	6.00%
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate	3.75%
Maximum Availability Joint Venture Mortgage Loan	$ 85,000,000
Number of Extension Options	2
Years in Extension | years	1
Theatre Project China Member
Schedule of Equity Method Investments [Line Items]
Equity in loss from joint ventures	$ 10,000	55,000
Proceeds from Equity Method Investment, Distribution	$ 0	90,000
Real Estate Investments, Unconsolidated Real Estate and Other Joint Ventures			700,000
Number of unconsolidated real estate joint ventures	3
Warrens Joint Venture
Schedule of Equity Method Investments [Line Items]
Equity in loss from joint ventures	$ 1,300,000
Proceeds from Equity Method Investment, Distribution		$ 0
Real Estate Investments, Unconsolidated Real Estate and Other Joint Ventures	$ 8,800,000		$ 10,100,000
Equity Method Investment, Ownership Percentage	95.00%
Equity Method Investment, Partner's Ownership Percentage	5.00%
Number of unconsolidated real estate joint ventures | properties	2
Long Term Funding Commitment For Project Development	$ 8,700,000
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	4.00%
Maximum Availability Joint Venture Mortgage Loan	$ 15,000,000
Long Term Funding Commitment For Project Development, Remaining	6,600,000
Construction Availability Joint Venture Mortgage Loan	$ 9,600,000
Interest Rate Swap [Member] | St. Petersburg Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Derivative, Fixed Interest Rate	3.00%

Derivative Instruments (Narrati

Derivative Instruments (Narrative) (Details) $ in Millions	Apr. 29, 2022USD ($)$ / $	Mar. 31, 2022USD ($)$ / $	Apr. 29, 2022CAD ($)$ / $	Apr. 12, 2022USD ($)$ / $	Apr. 12, 2022CAD ($)$ / $	Mar. 31, 2022CAD ($)$ / $	Dec. 31, 2021USD ($)
Derivative Liability, Fair Value, Gross Liability		$ 7,600,000					$ 4,900,000
Derivative Asset, Fair Value, Gross Asset		$ 600,000					$ 0
Number of entered into interest rate swap agreements (in interest rate swaps)		1				1
Derivative Liability, Fair Value, Amount Not Offset Against Collateral		$ 7,100,000
Credit Risk Derivatives, at Fair Value, Net		50,000,000
Net Investment Hedging [Member]
Derivative, Notional Amount		200
Cash Flow Hedging [Member]
Estimated amount to be reclassified from accumulated other comprehensive income to other expense in the next twelve months		100,000
Interest Rate Risk [Member]
Estimated amount to be reclassified from accumulated other comprehensive income to other expense in the next twelve months		$ 100,000
Currency Swap [Member]
Number of Canadian properties exposed to foreign currency exchange risk (in properties)		4
Cross Currency Swaps 2022 [Member]
Net exchange rate, CAD to US dollar | $ / $		1.31				1.31
Cross Currency Swap 2023 [Member] | Net Investment Hedging [Member]
Derivative, Notional Amount		$ 100
Net exchange rate, CAD to US dollar		1.32				1.32
Foreign currency exposure		$ 4,500,000
Cross Currency Swap 2023 [Member] | Net Investment Hedging [Member] | Subsequent Event [Member]
Loss on Contract Termination	$ 3,800,000
Cross Currency Swaps 2024 | Subsequent Event [Member]
Net exchange rate, CAD to US dollar | $ / $				1.27	1.27
Cross Currency Swaps October 2024 | Subsequent Event [Member]
Net exchange rate, CAD to US dollar | $ / $	1.29		1.29
Forward Contracts | Subsequent Event [Member]
Net exchange rate, CAD to US dollar | $ / $	1.28		1.28
interest rate swap 1.3925 percent [Member] | Interest Rate Swap [Member]
Derivative fixed interest rate		1.3925%				1.3925%
Derivative, Notional Amount		$ 25,000,000
United States of America, Dollars | Cross Currency Swaps 2022 [Member]
Derivative, Notional Amount		$ 76,600,000
Number of Cross Currency Swaps		3				3
United States of America, Dollars | Cross Currency Swaps 2024 | Subsequent Event [Member]
Derivative, Notional Amount				$ 118,700,000
Number of Cross Currency Swaps				3	3
United States of America, Dollars | Cross Currency Swaps October 2024 | Subsequent Event [Member]
Derivative, Notional Amount	$ 156,000,000
Number of Cross Currency Swaps	2		2
United States of America, Dollars | Forward Contracts | Subsequent Event [Member]
Derivative, Notional Amount	$ 156,000,000
Number of forward agreements	2		2
Canada, Dollars | Cross Currency Swaps 2022 [Member]
Derivative, Notional Amount						$ 100
Monthly CAD Denominated Cash Flows Properties Under Hedges of Foreign Exchange Risk		$ 7,200,000
Canada, Dollars | Cross Currency Swaps 2024 | Subsequent Event [Member]
Derivative, Notional Amount					$ 150
Monthly CAD Denominated Cash Flows Properties Under Hedges of Foreign Exchange Risk				$ 10,800,000
Canada, Dollars | Cross Currency Swaps October 2024 | Subsequent Event [Member]
Derivative, Notional Amount			$ 200
Monthly CAD Denominated Cash Flows Properties Under Hedges of Foreign Exchange Risk	$ 4,500,000
Canada, Dollars | Forward Contracts | Subsequent Event [Member]
Derivative, Notional Amount			$ 200

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, 2022	Mar. 31, 2021
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net	$ 99	$ 102
Derivative, Gain (Loss) on Derivative, Net	(2,220)	(1,620)
Amount of Income (Expense) Reclassified from AOCI into Earnings (Effective Portion)	(130)	(2,082)
Interest Expense	33,260	39,194
Other Income	9,305	678
Interest Rate Swap [Member]
Amount of Income (Expense) Reclassified from AOCI into Earnings (Effective Portion)	(76)	(2,033)
Cross Currency Swaps [Member]
Amount of Income (Expense) Reclassified from AOCI into Earnings (Effective Portion)	(54)	(49)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax	(26)	(93)
Cross Currency Swap 2023 [Member]
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net	99	102
Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), Reclassification, before Tax	(3,019)	(1,786)
Interest Expense [Member] | Interest Rate Swap [Member]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax	$ 825	$ 259

Fair Value Disclosures (Assets

Fair Value Disclosures (Assets and Liabilities Measured At Fair Value On A Recurring Basis) (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)
Long-term Debt	$ 2,805,853		$ 2,804,365
Derivative Liability, Fair Value, Gross Liability	(7,600)		(4,900)
Derivative Asset, Fair Value, Gross Asset	600		0
Financing Receivable, after Allowance for Credit Loss, Current	370,021		370,159
Real Estate Investment Property, Net	4,738,887		4,713,091
Other assets	$ 76,950		$ 69,918
Number of impaired properties	1		2
Asset Impairment Charges	$ 4,351	$ 0	$ 2,700
Theatre Properties [Member]
Asset Impairment Charges	4,400
Fair Value, Recurring [Member] | Cross Currency Swaps [Member]
Derivative Liability, Fair Value, Gross Liability	(7,618)		(4,626)
Fair Value, Recurring [Member] | Cross Currency Swaps [Member] | Fair Value, Inputs, Level 2 [Member]
Derivative Liability, Fair Value, Gross Liability	(7,618)		(4,626)
Fair Value, Recurring [Member] | Interest Rate Swap [Member]
Derivative Liability, Fair Value, Gross Liability			(262)
Derivative Asset, Fair Value, Gross Asset	(639)
Fair Value, Recurring [Member] | Interest Rate Swap [Member] | Fair Value, Inputs, Level 2 [Member]
Derivative Liability, Fair Value, Gross Liability			(262)
Derivative Asset, Fair Value, Gross Asset	(639)
Fair Value, Nonrecurring [Member]
Real Estate Investment Property, Net	4,700		6,956
Other assets	0		0
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member]
Real Estate Investment Property, Net	4,700		6,956
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member]
Other assets	0		0
Variable Rate Converted to Fixed Rate [Member]
Long-term Debt	25,000		25,000
Fixed Rate Mortgage Notes Receivable Member
Financing Receivable, after Allowance for Credit Loss, Current	$ 370,000		$ 370,200
Mortgage Receivable Weighted Average Interest Rate	9.04%		9.04%
Receivable Interest Rate Stated Percentage Rate Range Minimum	7.01%		7.01%
Receivable Interest Rate Stated Percentage Rate Range Maximum	11.96%		11.96%
Notes Receivable, Fair Value Disclosure	$ 401,900		$ 400,100
Weighted Average Market Rate Used As Discount Factor To Determine Fair Value Of Notes	7.98%		8.05%
Fixed Rate Mortgage Notes Receivable Member | Minimum [Member]
market rate used as discount factor to determine fair value of notes	7.50%		7.50%
Fixed Rate Mortgage Notes Receivable Member | Maximum [Member]
market rate used as discount factor to determine fair value of notes	9.25%		9.25%
Variable Rate Debt Member
Long-term Debt	$ 25,000		$ 25,000
Long-term Debt, Weighted Average Interest Rate, at Point in Time	0.55%		0.15%
Fixed Rate Debt Member
Long-term Debt	$ 2,820,000		$ 2,820,000
Long-term Debt, Weighted Average Interest Rate, at Point in Time	4.34%		4.34%
Long-term Debt, Fair Value	$ 2,750,000		$ 2,930,000
Weighted Average Market Rate Used As Discount Factor To Determine Fair Value Of Debt	4.69%		3.43%
Fixed Rate Debt Member | Minimum [Member]
market rate used as discount factor to determine fair value of debt	4.21%		2.25%
Fixed Rate Debt Member | Maximum [Member]
market rate used as discount factor to determine fair value of debt	4.92%		4.56%

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, 2022	Mar. 31, 2021
Basic EPS:
Income from continuing operations	$ 42,192	$ 3,380
Less: preferred dividend requirements	(6,033)	(6,034)
Net income (loss) available to common shareholders of EPR Properties	$ 36,159	$ (2,654)
Net income available to common shareholders (in dollars per share)	$ 0.48	$ (0.04)
Net Income (Loss) Available to Common Stockholders, Diluted	$ 36,159	$ (2,654)
Weighted average number of shares outstanding, basic	74,843	74,627
Diluted EPS:
Share options (in shares)	204	0
Weighted average number of shares outstanding, diluted	75,047	74,627
Net income available to common shareholders (in dollars per share)	$ 0.48	$ (0.04)

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - $ / shares shares in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Series C Preferred Shares [Member]
Anitidlutive securities exluded from computation of earnings per share [Line Items]
Common shares upon conversion of convertible preferred shares	2,200	2,200
Preferred Stock, Dividend Rate, Percentage	5.75%	5.75%
Series E Preferred Shares [Member]
Anitidlutive securities exluded from computation of earnings per share [Line Items]
Common shares upon conversion of convertible preferred shares	1,700	1,700
Preferred Stock, Dividend Rate, 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	89	114
Performance Shares [Member] | January 1, 2020 Award Date
Anitidlutive securities exluded from computation of earnings per share [Line Items]
Common shares upon conversion of convertible preferred shares	56	56
Performance Shares [Member] | January 1, 2021 Award Date
Anitidlutive securities exluded from computation of earnings per share [Line Items]
Common shares upon conversion of convertible preferred shares		102
Minimum [Member]
Anitidlutive securities exluded from computation of earnings per share [Line Items]
Share-based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit	$ 44.44	$ 44.44
Maximum [Member]
Anitidlutive securities exluded from computation of earnings per share [Line Items]
Share-based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit	$ 76.63	$ 76.63

Equity Incentive Plans (Summary

Equity Incentive Plans (Summary Of Share Option Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	May 12, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	3 years 9 months 18 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	3 years 1 month 6 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	95,565
Maximum term of options granted (in years)	10 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of Shares, Outstanding at Beginning of Period	108,671
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	9,799
Number of Shares, Outstanding at End of Period	98,872
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price	$ 46.30
Average Exercise Price, Outstanding at Beginning of Period	57.83		$ 56.79
Average Exercise Price, Outstanding at End of Period	$ 57.83		56.79
Weighted average fair value of options granted		$ 20.34
Intrinsic value of stock options exercised	$ 38
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$ 57.77
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	$ 162
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Price Per Share	$ 44.62
Option Price Per Share, Outstanding at Beginning of Period	44.44		44.44
Option Price Per Share, Outstanding at End of Period	44.44		44.44
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Price Per Share	47.15
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
2016 Equity Incentive Plan [Member]
Common shares, options to purchase common shares and restricted share units, expected to granted (in shares)				3,950,000
Number of shares available for grant (in shares)	2,022,200
Forty Four Point Forty Four To Forty Nine Point Nine Nine [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	5 years 1 month 6 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	2 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	10,132
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of Shares, Outstanding at End of Period	11,510
Forty Four Point Forty Four To Forty Nine Point Nine Nine [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Option Price Per Share, Outstanding at Beginning of Period	$ 44.44
Option Price Per Share, Outstanding at End of Period	44.44
Forty Four Point Forty Four To Forty Nine Point Nine Nine [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Option Price Per Share, Outstanding at Beginning of Period	49.99
Option Price Per Share, Outstanding at End of Period	$ 49.99
Fifty To Fifty Nine Point Nine Nine Member
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	2 years 3 months 18 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	2 years 3 months 18 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	31,008
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of Shares, Outstanding at End of Period	31,008
Fifty To Fifty Nine Point Nine Nine Member | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Option Price Per Share, Outstanding at Beginning of Period	$ 50
Option Price Per Share, Outstanding at End of Period	50
Fifty To Fifty Nine Point Nine Nine Member | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Option Price Per Share, Outstanding at Beginning of Period	59.99
Option Price Per Share, Outstanding at End of Period	$ 59.99
Sixty To Sixty Five Point Five Zero Member
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	4 years 3 months 18 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	3 years 7 months 6 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	50,754
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of Shares, Outstanding at End of Period	52,198
Sixty To Sixty Five Point Five Zero Member | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Option Price Per Share, Outstanding at Beginning of Period	$ 60
Option Price Per Share, Outstanding at End of Period	60
Sixty To Sixty Five Point Five Zero Member | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Option Price Per Share, Outstanding at Beginning of Period	69.99
Option Price Per Share, Outstanding at End of Period	$ 69.99
Seventy To Seventy Six Point Six Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	5 years 9 months 18 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	5 years 8 months 12 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	3,671
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of Shares, Outstanding at End of Period	4,156
Seventy To Seventy Six Point Six Three [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Option Price Per Share, Outstanding at Beginning of Period	$ 70
Option Price Per Share, Outstanding at End of Period	70
Seventy To Seventy Six Point Six Three [Member] | 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
Option Price Per Share, Outstanding at End of Period	$ 76.63

Equity Incentive Plans (Summa_2

Equity Incentive Plans (Summary Of Outstanding Options) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	95,565
Options outstanding (in shares)	98,872	108,671
Weighted avg. life remaining (in years)	3 years 9 months 18 days
Weighted avg. exercise price	$ 57.83	$ 56.79
Aggregate intrinsic value	$ 176
Minimum [Member]
Option Price Per Share, Outstanding at Beginning of Period	$ 44.44	44.44
Maximum [Member]
Option Price Per Share, Outstanding at Beginning of Period	$ 76.63	$ 76.63
Forty Four Point Forty Four To Forty Nine Point Nine Nine [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	10,132
Options outstanding (in shares)	11,510
Weighted avg. life remaining (in years)	5 years 1 month 6 days
Forty Four Point Forty Four To Forty Nine Point Nine Nine [Member] | Minimum [Member]
Option Price Per Share, Outstanding at Beginning of Period	$ 44.44
Forty Four Point Forty Four To Forty Nine Point Nine Nine [Member] | Maximum [Member]
Option Price Per Share, Outstanding at Beginning of Period	$ 49.99
Fifty To Fifty Nine Point Nine Nine Member
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	31,008
Options outstanding (in shares)	31,008
Weighted avg. life remaining (in years)	2 years 3 months 18 days
Fifty To Fifty Nine Point Nine Nine Member | Minimum [Member]
Option Price Per Share, Outstanding at Beginning of Period	$ 50
Fifty To Fifty Nine Point Nine Nine Member | Maximum [Member]
Option Price Per Share, Outstanding at Beginning of Period	$ 59.99
Sixty To Sixty Five Point Five Zero Member
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	50,754
Options outstanding (in shares)	52,198
Weighted avg. life remaining (in years)	4 years 3 months 18 days
Sixty To Sixty Five Point Five Zero Member | Minimum [Member]
Option Price Per Share, Outstanding at Beginning of Period	$ 60
Sixty To Sixty Five Point Five Zero Member | Maximum [Member]
Option Price Per Share, Outstanding at Beginning of Period	$ 69.99
Seventy To Seventy Six Point Six Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	3,671
Options outstanding (in shares)	4,156
Weighted avg. life remaining (in years)	5 years 9 months 18 days
Seventy To Seventy Six Point Six Three [Member] | Minimum [Member]
Option Price Per Share, Outstanding at Beginning of Period	$ 70
Seventy To Seventy Six Point Six Three [Member] | Maximum [Member]
Option Price Per Share, Outstanding at Beginning of Period	$ 76.63

Equity Incentive Plans (Summa_3

Equity Incentive Plans (Summary Of Exercisable Options) (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)$ / sharesshares
Options outstanding (in shares)	95,565
Weighted avg. life remaining (in years)	3 years 1 month 6 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $ / shares	$ 57.77
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $	$ 162
Forty Four Point Forty Four To Forty Nine Point Nine Nine [Member]
Options outstanding (in shares)	10,132
Weighted avg. life remaining (in years)	2 years
Fifty To Fifty Nine Point Nine Nine Member
Options outstanding (in shares)	31,008
Weighted avg. life remaining (in years)	2 years 3 months 18 days
Sixty To Sixty Five Point Five Zero Member
Options outstanding (in shares)	50,754
Weighted avg. life remaining (in years)	3 years 7 months 6 days
Seventy To Seventy Six Point Six Three [Member]
Options outstanding (in shares)	3,671
Weighted avg. life remaining (in years)	5 years 8 months 12 days

Equity Incentive Plans (Summa_4

Equity Incentive Plans (Summary Of Nonvested Share Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	May 12, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Number of Shares, Outstanding at December 31, 2021	478,554
Number of Shares, Vested	(215,096)
Number of Shares, Granted	243,286
Number of Shares, Outstanding at March 31, 2022	504,568
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value	$ 46.98
Weighted Average Grant Date Fair Value, Outstanding at December 31, 2019	56.57
Weighted Average Grant Date Fair Value, Granted	46.65
Weighted Average Grant Date Fair Value, Vested	59.97
Weighted Average Grant Date Fair Value, Outstanding at June 30, 2020	$ 50.38
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	(2,176)
Weighted Average Life Remaining, Outstanding at June 30, 2020 (in years)	1 year 4 months 13 days
Fair value of non-vested shares	$ 10,200	$ 6,500
Unamortized share-based compensation expense	$ 15,400
2016 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Common shares, options to purchase common shares and restricted share units, expected to granted (in shares)			3,950,000
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Number of Shares, Outstanding at December 31, 2021	158,776
Number of Shares, Granted	98,610
Number of Shares, Outstanding at March 31, 2022	257,386
Unamortized share-based compensation expense	$ 13,500
Share-based Compensation, Performance Measure Percent, Peer TSR	50.00%
Share-based Compensation, Performance Measure Percent, MSCI US REIT Index TSR	25.00%
Share-based Compensation, Performance Measure Percent, Growth in AFFO per share	25.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum	1.70%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	71.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	3 years
Dividend, Share-based Payment Arrangement	$ 136	9
Performance Shares [Member] | Market Condition
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Share Based Compensation Arrangement, Equity Instrument, Other Than Options, Market Condition, Grant Date Fair Value	$ 6,000	$ 6,600
Performance Shares [Member] | Performance Condition
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	200.00%
Share-based Compensation Arrangement, Equity Instruments Other Than Options, Performance Condition, Nonvested, Grant Date Fair Value	$ 2,300

Equity Incentive Plans (Summa_5

Equity Incentive Plans (Summary Of Restricted Share Unit Activity) (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Number of Shares, Outstanding at December 31, 2021 | shares	478,554
Number of Shares, Granted | shares	243,286
Number of Shares, Vested | shares	(215,096)
Number of Shares, Outstanding at March 31, 2022 | shares	504,568
Weighted Average Grant Date Fair Value, Outstanding at December 31, 2019 | $ / shares	$ 56.57
Weighted Average Grant Date Fair Value, Granted | $ / shares	46.65
Weighted Average Grant Date Fair Value, Vested | $ / shares	$ 59.97
Weighted Average Life Remaining, Outstanding at June 30, 2020 (in years)	1 year 4 months 13 days
Weighted Average Grant Date Fair Value, Outstanding at June 30, 2020 | $ / shares	$ 50.38
Unamortized share-based compensation expense | $	$ 15.4
Restricted Share Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Number of Shares, Outstanding at December 31, 2021 | shares	43,306
Number of Shares, Granted | shares	2,794
Number of Shares, Vested | shares	0
Number of Shares, Outstanding at March 31, 2022 | shares	46,100
Weighted Average Grant Date Fair Value, Outstanding at December 31, 2019 | $ / shares	$ 49.15
Weighted Average Grant Date Fair Value, Granted | $ / shares	46.61
Weighted Average Grant Date Fair Value, Vested | $ / shares	$ 0
Weighted Average Life Remaining, Outstanding at June 30, 2020 (in years)	2 months 1 day
Weighted Average Grant Date Fair Value, Outstanding at June 30, 2020 | $ / shares	$ 49.15
Unamortized share-based compensation expense | $	$ 0.4

Operating Leases (Details)

Operating Leases (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)
Operating Leases [Abstract]
Lease, Cost	The following table summarizes rental revenue, including sublease arrangements and lease costs, for the three months ended March 31, 2022 and 2021 (in thousands): Three Months Ended March 31, Classification 2022 2021 Operating leases Rental revenue $ 133,828 $ 97,672 Sublease income - operating ground leases Rental revenue 5,775 4,942 Lease costs Operating ground lease cost Property operating expense $ 5,969 $ 5,413 Operating office lease cost General and administrative expense 226 226
Property Subject to or Available for Operating Lease [Line Items]
Number of Properties Subject to Ground Leases	51		51
Straight line rent write off	$ 0	$ 0
Operating Lease, Lease Income	139,603	102,614
Property operating expense	13,939	15,313
General and Administrative Expense	13,224	11,336
Asset Impairment Charges	4,351	0	$ 2,700
Property Subject to Operating Lease
Property Subject to or Available for Operating Lease [Line Items]
Operating Lease, Lease Income	$ 133,828	97,672
vacant
Property Subject to or Available for Operating Lease [Line Items]
Number of Properties Subject to Ground Leases	2
Experiential Reportable Operating Segment [Member]
Property Subject to or Available for Operating Lease [Line Items]
Operating Lease, Lease Income	$ 129,025	93,276
Property operating expense	13,693	14,992
Ground Lease Arrangement [Member]
Property Subject to or Available for Operating Lease [Line Items]
Sublease Income	5,775	4,942
Property operating expense	5,969	5,413
Office Lease [Member]
Property Subject to or Available for Operating Lease [Line Items]
General and Administrative Expense	$ 226	$ 226

Segment Information Balance She

Segment Information Balance Sheet Data (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)segment	Dec. 31, 2021USD ($)
Segment Reporting Information [Line Items]
Number of Reportable Operating Segments | segment	2
Total Assets	$ 5,818,070	$ 5,801,150
Experiential Reportable Operating Segment [Member]
Segment Reporting Information [Line Items]
Total Assets	4,983,264	4,995,241
Education Reportable Operating Segment [Member]
Segment Reporting Information [Line Items]
Total Assets	500,369	505,086
Corporate / Unallocated
Segment Reporting Information [Line Items]
Total Assets	$ 334,437	$ 300,823

Segment Information Operating D

Segment Information Operating Data (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Segment Reporting Information [Line Items]
Operating Lease, Lease Income	$ 139,603	$ 102,614
Other income	9,305	678
Interest and Fee Income, Loans, Commercial and Residential, Real Estate	8,564	8,473
Revenues	157,472	111,765
Property operating expense	13,939	15,313
Other expense	8,097	2,552
Total investment expenses	22,036	17,865
Net Operating Income - Before Unallocated Items	135,436	93,900
Reconciliation to Consolidated Statements of Income:
General and administrative expense	(13,224)	(11,336)
Write off of Deferred Debt Issuance Cost	0	(241)
Interest expense, net	(33,260)	(39,194)
Transaction costs	(2,247)	(548)
Financing Receivable, Credit Loss, Expense (Reversal)	306	2,762
Asset Impairment Charges	(4,351)	0	$ (2,700)
Depreciation and amortization	(40,044)	(40,326)
Equity in loss from joint ventures	(106)	(1,431)
Gain on sale of real estate	0	201
Income tax benefit (expense)	(318)	(407)
Net income attributable to EPR Properties	42,192	3,380
Preferred dividend requirements	(6,033)	(6,034)
Net Income (Loss) Available to Common Stockholders, Basic	36,159	(2,654)
Experiential Reportable Operating Segment [Member]
Segment Reporting Information [Line Items]
Operating Lease, Lease Income	129,025	93,276
Other income	9,210	329
Interest and Fee Income, Loans, Commercial and Residential, Real Estate	8,334	8,141
Revenues	146,569	101,746
Property operating expense	13,693	14,992
Other expense	8,097	2,552
Total investment expenses	21,790	17,544
Net Operating Income - Before Unallocated Items	124,779	84,202
Education Reportable Operating Segment [Member]
Segment Reporting Information [Line Items]
Operating Lease, Lease Income	10,578	9,338
Other income	0	0
Interest and Fee Income, Loans, Commercial and Residential, Real Estate	230	332
Revenues	10,808	9,670
Property operating expense	(7)	82
Other expense	0	0
Total investment expenses	(7)	82
Net Operating Income - Before Unallocated Items	10,815	9,588
Corporate / Unallocated
Segment Reporting Information [Line Items]
Operating Lease, Lease Income	0	0
Other income	95	349
Interest and Fee Income, Loans, Commercial and Residential, Real Estate	0	0
Revenues	95	349
Property operating expense	253	239
Other expense	0	0
Total investment expenses	253	239
Net Operating Income - Before Unallocated Items	$ (158)	$ 110

Other Commitments And Conting_2

Other Commitments And Contingencies (Details) $ in Millions	Mar. 31, 2022USD ($)mortgagenotes
Number Of Mortgage Notes Receivable | mortgagenotes	2
Mortgage Note and Notes Receivable Commitments	$ 11.8
Number of Surety Bonds	4
Surety bonds	$ 33.3
Experiential Reportable Operating Segment [Member]
Development projects in process (in projects)	15
Other Commitment	$ 105.2

Uncategorized Items - epr-20220

Label	Element	Value
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	$ 1,028,010,000
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	$ 289,901,000