Company: EGP
Filing Date: 2025-02-12
Form Type: 10-K
Source: 0000049600-25-000019
Chunk: 42

Company: EASTGROUP PROPERTIES INC
Filing Date: 2025-02-12
Form: 10-K
Item: Item 15
Chunk 42
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 3.03%.The Company’s unsecured debt instruments have certain restrictive covenants, such as maintaining debt service coverage and leverage ratios and maintaining insurance coverage, and the Company was in compliance with all of its financial debt covenants at December 31, 2024 and 2023.The Company currently intends to repay its debt obligations, both in the short-term and long-term, through its operating cash flows, borrowings under its unsecured bank credit facilities, proceeds from new debt (primarily unsecured), and/or proceeds from the issuance of equity instruments. Scheduled principal payments on long-term debt, including Unsecured debt, net of debt issuance costs (not including Unsecured bank credit facilities, net of debt issuance costs), as of December 31, 2024 are as follows: Years Ending December 31,(In thousands)2025$145,000 2026140,000 2027175,000 2028160,000 2029155,000 Thereafter735,000 Total unsecured debt, before amortization of debt issuance costs$1,510,000 

(7) ACCOUNTS PAYABLE AND ACCRUED EXPENSES

A summary of the Company’s Accounts payable and accrued expenses follows: December 31,20242023(In thousands)Property taxes payable                                                    $11,528 9,508 Development costs payable 16,388 29,487 Retainage payable10,920 14,992 Real estate improvements and capitalized leasing costs payable8,753 5,275 Interest payable                              8,351 8,493 Dividends payable74,049 62,393 Incentive compensation payable6,726 6,166 Other payables and accrued expenses                   10,627 10,023  Total Accounts payable and accrued expenses$147,342 146,337 

62

EASTGROUP PROPERTIES, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(8)OTHER LIABILITIES

A summary of the Company’s Other liabilities follows: December 31,20242023(In thousands)Security deposits                                                 $43,506 37,102 Prepaid rent and other deferred income24,813 20,070 Operating lease liabilities — Ground leases 39,387 18,758 Operating lease liabilities