Company: INTG
Filing Date: 2025-09-30
Form Type: 10-K
Source: 0001493152-25-016154
Chunk: 474

Company: INTERGROUP CORP
Filing Date: 2025-09-30
Form: 10-K
Item: Item 8
Chunk 474
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 short and written options are recognized as liabilities and measured at fair value with changes in fair value recognized
in earnings (ASC 815/ASC 860). Short positions may be covered with current holdings or subsequent purchases.

    41

Accounts
Payable and Other Liabilities

Accounts
payable and other liabilities include trade payables, advanced customer deposits, accrued wages, accrued real estate taxes, and other
liabilities.

Treasury
Stock

The
Company records the acquisition of treasury stock under the cost method. During the years ended June 30, 2025 and 2024, the Company purchased
24,550 and 26,972 shares of treasury stock, respectively.

Fair
Value of Financial Instruments

Fair
value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”)
in an orderly transaction between market participants at the measurement date. ASC 820 establishes a hierarchy for inputs used in measuring
fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable
inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability developed
based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s
assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information
available in the circumstances. The hierarchy is broken down into three levels based on the observability of inputs as follows:

Level
1–inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.

Level
2–inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs
that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments.

Level
3–inputs to the valuation methodology are unobservable and significant to the fair value.

Assets
Held for Sale – Accounting Policy (Continuing Operations)

Long-lived assets are classified as held for sale when management commits to a plan to sell, the assets are available for immediate sale
in their present condition, an active program to locate a buyer has been initiated, the sale is probable and expected to be completed
within one year, and it is unlikely that the plan will be significantly changed or withdrawn.

Upon
classification as held for sale, the assets are measured at the lower