Company: EGP
Filing Date: 2025-02-12
Form Type: 10-K
Source: 0000049600-25-000019
Chunk: 169

Company: EASTGROUP PROPERTIES INC
Filing Date: 2025-02-12
Form: 10-K
Item: Item 3
Chunk 169
---
,292,544 

See accompanying Notes to Consolidated Financial Statements.

47

EASTGROUP PROPERTIES, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS Years Ended December 31,202420232022(In thousands)OPERATING ACTIVITIES   Net income$227,807 200,548 186,274 Adjustments to reconcile net income to net cash provided by operating activities:   Depreciation and amortization189,411 171,078 153,638 Stock-based compensation expense10,476 8,965 8,292 Gain on sales of real estate investments(8,751)(17,965)(40,999)Gain on sales of non-operating real estate(362)(446)— Gain on involuntary conversion and business interruption claims(1,708)(4,187)— Changes in operating assets and liabilities: Accrued income and other assets(13,410)(15,415)(9,291)Accounts payable, accrued expenses and prepaid rent11,130 (5,922)17,176 Other                                                                                                    1,994 1,546 1,411 NET CASH PROVIDED BY OPERATING ACTIVITIES416,587 338,202 316,501 INVESTING ACTIVITIES   Development and value-add properties(245,033)(388,213)(494,073)Purchases of real estate(390,011)(165,116)(2,049)Real estate improvements(59,288)(51,116)(40,851)Net proceeds from sales of real estate investments and non-operating real estate17,659 41,539 51,006 Leasing commissions(32,154)(32,004)(37,272)Proceeds from involuntary conversion on real estate assets2,450 5,029 — Changes in accrued development costs(17,170)12,163 4,211 Changes in other assets and other liabilities(795)7,660 (2,120)NET CASH USED IN INVESTING ACTIVITIES(724,342)(570,058)(521,148)FINANCING ACTIVITIES   Proceeds from unsecured bank credit facilities64,968 471,624 942,173 Repayments on unsecured bank credit facilities(64,968)(641,624)(981,383)Proceed