RECENT ACCOUNTING PRONOUNCEMENTS Recent Accounting Pronouncements (Tables)

9 Months Ended

Sep. 30, 2016

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]

In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs, which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. For public business entities, the ASU was effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Entities are to apply the new guidance on a retrospective basis, wherein the balance sheet of each individual period presented should be adjusted to reflect the period-specific effects of applying the new guidance. EastGroup adopted ASU 2015-03 effective January 1, 2016. Prior to adoption, the Company included debt issuance costs in Other assets on the Consolidated Balance Sheets. Beginning with the Form 10-Q for the period ended March 31, 2016, EastGroup changed its presentation of debt issuance costs for all periods presented; the Company now presents debt issuance costs as direct deductions from the carrying amounts of its debt liabilities both on the Balance Sheet and in the Notes to Consolidated Financial Statements. As a result of the adoption of ASU 2015-03, the Company adjusted its December 31, 2015 Balance Sheet as follows:

Balance Sheet Items as of December 31, 2015:	As Presented in the Company’s 2015 Form 10-K		As Presented in the Company’s Form 10-Q Beginning With the Period Ended March 31, 2016
	(In thousands)
Other assets	$	96,186	91,858
Total assets	1,666,232		1,661,904
Secured debt	351,401		350,285
Unsecured debt	530,000		528,210
Unsecured bank credit facilities	150,836		149,414
Total liabilities	1,107,031		1,102,703
Total liabilities and equity	1,666,232		1,661,904