Company: EGP
Filing Date: 2025-07-23
Form Type: 10-Q
Source: 0000049600-25-000100
Chunk: 90

Company: EASTGROUP PROPERTIES INC
Filing Date: 2025-07-23
Form: 10-Q
Item: Part I, Item 8
Chunk 90
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HENSIVE INCOME

 Total Comprehensive Income is comprised of net income plus all other changes in equity from non-owner sources and is presented on the Consolidated Statements of Income and Comprehensive Income.  The components of Accumulated other comprehensive income are presented in the Company’s Consolidated Statements of Changes in Equity and are summarized below.  See Note 14 for information regarding the Company’s interest rate swaps. Three Months EndedJune 30,Six Months Ended                                                                                                                                            June 30,2025202420252024(In thousands)ACCUMULATED OTHER COMPREHENSIVE INCOME:Balance at beginning of period$15,026 30,782 21,953 24,888     Other comprehensive income (loss) — Interest rate swaps(4,136)(1,095)(11,063)4,799 Balance at end of period$10,890 29,687 10,890 29,687 

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

(14) DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

 The Company is exposed to certain risks arising from both its business operations and economic conditions.  The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities.  The Company manages economic risk, including interest rate, liquidity and credit risk primarily by managing the amount, sources and duration of its debt funding and, to a limited extent, the use of derivative instruments.  Specifically, the Company has entered into derivative instruments to manage exposures that arise from business activities that result in the payment of future known and uncertain cash amounts, the value of which are determined by interest rates.  The Company’s derivative instruments, described below, are used to manage differences in the amount, timing and duration of the Company’s known or expected cash payments principally related to certain of the Company’s borrowings.  The Company’s objective in using interest rate derivatives is to change variable interest rates to fixed interest rates by using interest rate swaps.  Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the term of the agreements without exchange of the underlying notional amount.  As of June 30, 2025, the Company had five interest rate swaps outstanding, all of which are used to hedge the variable cash flows associated with un