Company: EGP
Filing Date: 2025-07-23
Form Type: 10-Q
Source: 0000049600-25-000100
Chunk: 86

Company: EASTGROUP PROPERTIES INC
Filing Date: 2025-07-23
Form: 10-Q
Item: Part I, Item 8
Chunk 86
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 year ended December 31, 2024, the Company also sold 5.4 acres of land in two markets for $4,261,000 and recognized gains on the sales of $362,000.  The Company did not sell any land during six months ended June 30, 2025. The gains on sales of non-operating real estate are included in Other on the Consolidated Statements of Income and Comprehensive Income.

The Company did not consider its sales in 2025 or 2024 to be disposals of a component of an entity or a group of components of an entity representing a strategic shift that has (or will have) a major effect on the entity’s operations and financial results. 

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

(9)OTHER ASSETS

 A summary of the Company’s Other assets, net follows: June 30,2025December 31,2024 (In thousands)Leasing costs (principally commissions)$180,568 173,582 Accumulated amortization of leasing costs                                                       (67,145)(63,179)Leasing costs (principally commissions), net of accumulated amortization113,423 110,403 Acquired in-place lease intangibles                                                                                  57,689 59,101 Accumulated amortization of acquired in-place lease intangibles(25,316)(20,443)Acquired in-place lease intangibles, net of accumulated amortization32,373 38,658 Acquired above market lease intangibles                                                                                  564 564 Accumulated amortization of acquired above market lease intangibles(422)(376)Acquired above market lease intangibles, net of accumulated amortization142 188 Straight-line rents receivable91,980 83,722 Accounts receivable6,812 10,033 Interest rate swap assets13,227 21,953 Right of use assets — Office leases (operating)1,942 2,228 Goodwill990 990 Escrow deposits and prepaid costs for pending transactions4,785 3,336 Prepaid insurance652 6,469 Receivable for insurance proceeds2,028 3,863