Company: EGP
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0000049600-25-000109
Chunk: 100

Company: EASTGROUP PROPERTIES INC
Filing Date: 2025-10-23
Form: 10-Q
Item: Part I, Item 8
Chunk 100
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, 2025 and December 31, 2024. September 30, 2025December 31, 2024 Carrying Amount (1)Fair ValueCarrying Amount (1)Fair Value (In thousands)Financial Assets:    Cash and cash equivalents$2,981 2,981 17,529 17,529    Interest rate swap assets                             11,165 11,165 21,953 21,953 Financial Liabilities:     Unsecured bank credit facilities - variable rate (2)45,000 45,111 — — Unsecured debt (2)1,440,000 1,368,579 1,510,000 1,403,754    Interest rate swap liabilities                                     2,414 2,414 — — (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 bank credit facilities: The fair value of the Company’s unsecured bank credit facilities is estimated by discounting expected cash flows at current market rates (Level 2 input), excluding the effects of debt issuance costs.•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