INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

Summary Of Components of Income Tax Expense (Benefit)

Income tax expense is comprised of the following components (in thousands):

	For the Years Ended December 31,
	2023			2022			2021
Current income tax expense
Federal	$	25,037		$	25,681		$	32,137
State		5,899			5,840			6,592
		30,936			31,521			38,729
Deferred income tax expense (benefit)
Federal		(2,156	)		11,484			86,703
State		(547	)		(23	)		12,567
		(2,703	)		11,461			99,270
Income tax expense	$	28,233		$	42,982		$	137,999

Summary Of Components of Deferred Tax Assets and Liabilities

Significant components of CoreCivic's deferred tax assets and liabilities as of December 31, 2023 and 2022, are as follows (in thousands):

	December 31,
	2023			2022
Noncurrent deferred tax assets:
Asset reserves and liabilities not yet deductible for tax	$	14,915		$	8,625
Accrued compensation not yet deductible for tax		12,419			9,913
Accrued workers comp liabilities not yet deductible for tax		11,333			10,976
Depreciation		8,669			8,502
ROU lease assets		25,282			33,226
Losses and tax credit carryforwards		1,591			1,807
Intangible assets		7,669			7,836
Other		9,010			9,954
Total noncurrent deferred tax assets		90,888			90,839
Less valuation allowance		(848	)		(848	)
Total noncurrent deferred tax assets		90,040			89,991
Noncurrent deferred tax liabilities:
Depreciation		(151,918	)		(148,255	)
Lease liabilities		(24,721	)		(32,663	)
Intangible liabilities		(7,860	)		(7,557	)
Other		(2,456	)		(1,134	)
Total noncurrent deferred tax liabilities		(186,955	)		(189,609	)
Net total noncurrent deferred tax liabilities	$	(96,915	)	$	(99,618	)

Summary Of Reconciliation of Income Tax Provision at Statutory Income Tax Rate and Effective Tax Rate

A reconciliation of the income tax provision at the statutory income tax rate and the effective tax rate as a percentage of income from continuing operations before income taxes for the years ended December 31, 2023, 2022, and 2021 is as follows:

	2023			2022			2021
Statutory federal rate		21.0	%		21.0	%		21.0	%
Revaluation of deferred tax liabilities		—			—			132.7
State taxes, net of federal tax benefit		4.5			3.4			4.8
Permanent differences		4.3			1.7			2.8
Tax expense (benefit) of equity-based compensation		(0.3	)		—			2.6
Other items, net		—			(0.1	)		(3.6	)
		29.5	%		26.0	%		160.3	%