Subsequent Events

6 Months Ended

Jun. 30, 2013

Subsequent Events

13. SUBSEQUENT EVENTS

On July 31, 2013, CCA closed on the acquisition of Correctional Alternatives, Inc. (“CAI”) a privately held community corrections company for an all cash purchase price of approximately $36 million, excluding transaction related expenses. Founded in 1987, CAI provides cost-effective solutions for housing and rehabilitation through community corrections and reentry services. CAI operates two facilities concentrating on community corrections and specializing in work furloughs, residential reentry programs and home confinement for San Diego County and Bureau of Prisons (“BOP”) residents. During 2012, CAI generated approximately $10 million in total revenues and owns a 120-bed facility and controls a 483-bed facility through a long-term lease.