Company: EGP
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0000049600-25-000109
Chunk: 20

Company: EASTGROUP PROPERTIES INC
Filing Date: 2025-10-23
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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 No impairment of goodwill or other intangibles existed during the three and nine month periods ended September 30, 2025 and 2024.

(8)REAL ESTATE SOLD AND HELD FOR SALE

 The Company considers a real estate property to be held for sale when it meets the criteria established under ASC 360, Property, Plant and Equipment, including when it is probable that the property will be sold within a year.  Real estate properties held for sale are reported at the lower of the carrying amount or fair value less estimated costs to sell and are not depreciated while they are held for sale. The Company did not classify any properties as held for sale as of September 30, 2025 and December 31, 2024. In accordance with ASC 360 and ASC 205, Presentation of Financial Statements, the Company would report a disposal of a component of an entity or a group of components of an entity in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results when the component or group of components meets the criteria to be classified as held for sale or when the component or group of components is disposed of by sale or other than by sale.  In addition, the Company would provide additional disclosures about both discontinued operations and the disposal of an individually significant component of an entity that does not qualify for discontinued operations presentation in the financial statements.  EastGroup performs an analysis of properties sold to determine whether the sales qualify for discontinued operations presentation.  Results of operations and gains and losses on sales for properties sold are reported in continuing operations on the Consolidated Statements of Income and Comprehensive Income.  The gains and losses on sales of operating properties are included in Gain on sales of real estate investments.

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

A summary of Gain on sales of real estate investments for the nine months ended September 30, 2025 and the year ended December 31, 2024 follows:REAL ESTATE PROPERTIES SOLDLocationSizeDate SoldNet Sales PriceBasisRecognized Gain  (Square feet) (In thousands)2025Laura Alice Business CenterSan Francisco, CA12,00006/02/2025$3,371 3,371 — 2024Interchange Business Park and    Metro Airport Commerce CenterJackson, MS159,00003/05/2024