Company: EGP
Filing Date: 2025-07-23
Form Type: 10-Q
Source: 0000049600-25-000100
Chunk: 100

Company: EASTGROUP PROPERTIES INC
Filing Date: 2025-07-23
Form: 10-Q
Item: Part I, Item 8
Chunk 100
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 rate swap liabilities                                     2,337 2,337 — — (1)Carrying amounts shown in the table are included on the Consolidated Balance Sheets under the indicated captions, except as explained below.(2)Carrying amounts and fair values shown in the table exclude debt issuance costs (see Note 10 for additional information).The following methods and assumptions were used to estimate the fair value of each class of financial instruments:•Cash and cash equivalents:  The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents.  The carrying amounts approximate fair value due to the short maturity of those instruments.

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EASTGROUP PROPERTIES, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

•Interest rate swap assets (included in Other assets, net on the Consolidated Balance Sheets):  The instruments are recorded at fair value based on models using inputs, such as interest rate yield curves, SOFR swap curves, observable for substantially the full term of the contract (Level 2 input).  See Note 14 for additional information on the Company’s interest rate swaps.•Unsecured debt:  The fair value of the Company’s unsecured debt is estimated by discounting expected cash flows at the rates currently offered to the Company for debt of the same remaining maturities, as advised by the Company’s bankers (Level 2 input), excluding the effects of debt issuance costs.•Interest rate swap liabilities (included in Other liabilities on the Consolidated Balance Sheets):  The instruments are recorded at fair value based on models using inputs, such as interest rate yield curves, SOFR swap curves, observable for substantially the full term of the contract (Level 2 input).  See Note 14 for additional information on the Company’s interest rate swaps.

(19) RISKS AND UNCERTAINTIES

The state of the overall economy can significantly impact the Company’s operational performance and thus impact its financial position.  Should EastGroup experience a significant decline in operational performance, it may affect the Company’s ability to make distributions to its shareholders, service debt or meet other financial obligations.  

(20) LEGAL MATTERS

The Company is not presently involved in any material litigation nor, to its knowledge, is any material litigation threatened against the Company or its properties, other than routine litigation arising in the ordinary course of business.  

(21) RECENT ACCOUNTING PRON