Company: EGP
Filing Date: 2025-02-12
Form Type: 10-K
Source: 0000049600-25-000019
Chunk: 208

Company: EASTGROUP PROPERTIES INC
Filing Date: 2025-02-12
Form: 10-K
Item: Item 3
Chunk 208
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ASH FLOW HEDGING RELATIONSHIPS202420232022 (In thousands)Amount of income recognized in Other comprehensive income (loss) on     derivatives                                                                                            $14,869 6,319 37,563 Amount of (income) loss reclassified from Accumulated other comprehensive    income into Interest expense(17,804)(17,802)(2,494)See Note 11 for additional information on the Company’s Accumulated other comprehensive income resulting from its interest rate swaps.Derivative financial agreements expose the Company to credit risk in the event of non-performance by the counterparties under the terms of the interest rate hedge agreements.  The Company believes it minimizes the credit risk by transacting with financial institutions the Company regards as credit-worthy.  The Company has an agreement with its derivative counterparties containing a provision stating that the Company could be declared in default on its derivative obligations if the Company defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender.  As of December 31, 2024, we had not posted any collateral related to these agreements and were not in breach of any of the provisions of these agreements. If the Company had breached any of these provisions, it would be required to settle its obligations under the agreements at their termination value.

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EASTGROUP PROPERTIES, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(13)EARNINGS PER SHARE

Reconciliation of the numerators and denominators in the basic and diluted EPS computations is as follows:Years Ended December 31, 202420232022(In thousands)BASIC EPS COMPUTATION FOR NET INCOME ATTRIBUTABLE TOEASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS     Numerator — net income attributable to common stockholders$227,751 200,491 186,182   Denominator — weighted average shares outstanding — Basic48,803 45,224 42,599 DILUTED EPS COMPUTATION FOR NET INCOME ATTRIBUTABLETO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS  Numerator — net income attributable to common stockholders$227,751 200,491 186,182 Denominator:    Weighted average shares outstanding — Basic48,803 45,224 42,599     Effect of dilutive securities108