Schedule of Revenue and Facility Net Operating Income for Each of the Three Segments and a Reconciliation to CoreCivic's Operating Income Before Income Taxes |
The revenue and facility net operating income for each of the three segments and a reconciliation to CoreCivic's income before income taxes is as follows for the three and nine months ended September 30, 2024 and 2023 (in thousands):
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|
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For the Three Months Ended September 30, |
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For the Nine Months Ended September 30, |
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|
2024 |
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|
2023 |
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|
2024 |
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|
2023 |
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Revenue: |
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|
|
|
|
|
|
|
|
|
|
Safety |
|
$ |
459,270 |
|
|
$ |
443,324 |
|
|
$ |
1,372,389 |
|
|
$ |
1,282,717 |
|
Community |
|
|
28,203 |
|
|
|
29,791 |
|
|
|
88,405 |
|
|
|
84,569 |
|
Properties |
|
|
4,085 |
|
|
|
10,477 |
|
|
|
21,540 |
|
|
|
37,888 |
|
Total segment revenue |
|
|
491,558 |
|
|
|
483,592 |
|
|
|
1,482,334 |
|
|
|
1,405,174 |
|
Operating expenses: |
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|
|
|
|
|
|
|
|
|
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Safety |
|
|
343,423 |
|
|
|
350,946 |
|
|
|
1,041,642 |
|
|
|
1,015,070 |
|
Community |
|
|
24,613 |
|
|
|
23,268 |
|
|
|
72,891 |
|
|
|
68,888 |
|
Properties |
|
|
2,763 |
|
|
|
3,067 |
|
|
|
10,060 |
|
|
|
9,752 |
|
Total segment operating expenses |
|
|
370,799 |
|
|
|
377,281 |
|
|
|
1,124,593 |
|
|
|
1,093,710 |
|
Facility net operating income: |
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|
|
|
|
|
|
|
|
|
|
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Safety |
|
|
115,847 |
|
|
|
92,378 |
|
|
|
330,747 |
|
|
|
267,647 |
|
Community |
|
|
3,590 |
|
|
|
6,523 |
|
|
|
15,514 |
|
|
|
15,681 |
|
Properties |
|
|
1,322 |
|
|
|
7,410 |
|
|
|
11,480 |
|
|
|
28,136 |
|
Total facility net operating income |
|
|
120,759 |
|
|
|
106,311 |
|
|
|
357,741 |
|
|
|
311,464 |
|
Other revenue (expense): |
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|
|
|
|
|
|
|
|
|
|
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Other revenue |
|
|
— |
|
|
|
113 |
|
|
|
19 |
|
|
|
215 |
|
Other operating expense |
|
|
(19 |
) |
|
|
(42 |
) |
|
|
(63 |
) |
|
|
(158 |
) |
General and administrative |
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|
(41,162 |
) |
|
|
(33,927 |
) |
|
|
(111,537 |
) |
|
|
(99,218 |
) |
Depreciation and amortization |
|
|
(32,240 |
) |
|
|
(32,526 |
) |
|
|
(96,115 |
) |
|
|
(95,183 |
) |
Asset impairments |
|
|
(3,108 |
) |
|
|
(2,710 |
) |
|
|
(3,108 |
) |
|
|
(2,710 |
) |
Interest expense, net |
|
|
(15,998 |
) |
|
|
(17,886 |
) |
|
|
(51,721 |
) |
|
|
(55,305 |
) |
Expenses associated with debt repayments and refinancing transactions |
|
|
— |
|
|
|
(100 |
) |
|
|
(31,316 |
) |
|
|
(326 |
) |
Gain on sale of real estate assets, net |
|
|
1,181 |
|
|
|
368 |
|
|
|
1,749 |
|
|
|
343 |
|
Other income (expense) |
|
|
767 |
|
|
|
(74 |
) |
|
|
1,153 |
|
|
|
(43 |
) |
Income before income taxes |
|
$ |
30,180 |
|
|
$ |
19,527 |
|
|
$ |
66,802 |
|
|
$ |
59,079 |
|
|
Summary of Capital Expenditures Including Accrued Amounts |
The following table summarizes capital expenditures including accrued amounts for the three and nine months ended September 30, 2024 and 2023 (in thousands):
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For the Three Months Ended September 30, |
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For the Nine Months Ended September 30, |
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|
2024 |
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|
2023 |
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|
2024 |
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|
2023 |
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Capital expenditures: |
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|
|
|
|
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|
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|
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Safety |
|
$ |
13,619 |
|
|
$ |
12,665 |
|
|
$ |
35,099 |
|
|
$ |
30,227 |
|
Community |
|
|
584 |
|
|
|
457 |
|
|
|
3,286 |
|
|
|
1,097 |
|
Properties |
|
|
1,336 |
|
|
|
579 |
|
|
|
2,063 |
|
|
|
1,122 |
|
Corporate and other |
|
|
2,278 |
|
|
|
3,864 |
|
|
|
6,714 |
|
|
|
7,797 |
|
Total capital expenditures |
|
$ |
17,817 |
|
|
$ |
17,565 |
|
|
$ |
47,162 |
|
|
$ |
40,243 |
|
|
Schedule of Total Assets |
The total assets are as follows (in thousands):
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|
|
|
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September 30, 2024 |
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|
December 31, 2023 |
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Assets: |
|
|
|
|
|
|
Safety |
|
$ |
2,133,389 |
|
|
$ |
2,284,243 |
|
Community |
|
|
202,264 |
|
|
|
213,145 |
|
Properties |
|
|
387,633 |
|
|
|
402,889 |
|
Corporate and other |
|
|
190,656 |
|
|
|
205,122 |
|
Total assets |
|
$ |
2,913,942 |
|
|
$ |
3,105,399 |
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|