Shareholders' Equity (Tables)

9 Months Ended

Sep. 30, 2022

Equity [Abstract]

Changes in Shareholders' Equity that are Attributable to the Company's Shareholders and to Noncontrolling Interests

The following tables present the changes in shareholders’ equity that are attributable to the Company’s shareholders and to noncontrolling interests for the three and nine months ended September 30, 2022 and 2021 (in thousands):

	Common shares					Additional Paid-In			Accumulated			Accumulated Other Comprehensive			Treasury shares					Noncontrolling			Total Shareholders'
	Shares			Amount		Capital			Deficit			Loss			Shares		Amount			Interests			Equity
For the Three Months Ended    September 30, 2022
Balance, June 30, 2022		124,003		$	1,289	$	1,284,867		$	(84,105	)	$	(25,839	)		4,852	$	(105,099	)	$	(1,281	)	$	1,069,832
Proceeds from exercise    of stock options		3			—		20			—			—			—		—			—			20
Stock-based compensation    expense		—			—		3,141			—			—			—		—			—			3,141
Restricted stock granted		50			1		(1	)		—			—			—		—			—			—
Restricted stock canceled		(6	)		—		—			—			—			—		—			—			—
Other adjustment		—			—		—			2			—			—		—			—			2
Issuance of common    stock - ESPP		7			—		48						—			—		—			—			48
Net income (loss)		—			—		—			38,337			—			—		—			(25	)		38,312
Other comprehensive income    (loss)		—			—		—			—			(798	)		—		—			23			(775	)
Balance, September 30, 2022		124,057		$	1,290	$	1,288,075		$	(45,766	)	$	(26,637	)		4,852	$	(105,099	)	$	(1,283	)	$	1,110,580

	Common shares					Additional Paid-In			Accumulated			Accumulated Other Comprehensive			Treasury shares					Noncontrolling			Total Shareholders'
	Shares			Amount		Capital			Deficit			Loss			Shares		Amount			Interests			Equity
For the Three Months Ended    September 30, 2021
Balance, June 30, 2021		122,409		$	1,273	$	1,272,014		$	(160,875	)	$	(21,132	)		4,852	$	(105,099	)	$	(1,113	)	$	985,068
Stock-based compensation    expense		—			—		4,329			—			—			—		—			—			4,329
Restricted stock granted		103			—		—			—			—			—		—			—			-
Restricted stock canceled		(43	)		—		—			—			—			—		—			—			-
Other adjustment to paid-in capital [2]							(3,600	)								—								(3,600	)
Shares withheld for net    settlements of share-    based awards [1]		(12	)		—		(90	)		—			—			—		—			—			(90	)
Issuance of common    stock - ESPP		8			—		72			—			—			—		—			—			72
Net income (loss)		—			—		—			34,710			—			—		—			(69	)		34,641
Other comprehensive income    (loss)		—			—		—			—			(2,722	)		—		—			8			(2,714	)
Balance, September 30, 2021		122,465		$	1,273	$	1,272,725		$	(126,165	)	$	(23,854	)		4,852	$	(105,099	)	$	(1,174	)	$	1,017,706

	Common shares						Additional Paid-In			Accumulated			Accumulated Other Comprehensive			Treasury shares					Noncontrolling			Total Shareholders'
	Shares			Amount			Capital			Deficit			Loss			Shares		Amount			Interests			Equity
For the Nine Months Ended    September 30, 2022
Balance January 1, 2022		122,472		$	1,273		$	1,276,213		$	(175,960	)	$	(20,216	)		4,852	$	(105,099	)	$	(1,195	)	$	975,016
Proceeds from exercise of    stock options		3			—			20			—			—			—		—			—			20
Stock-based compensation    expense		—			—			13,010			—			—			—		—			—			13,010
Restricted stock granted		1,836			18			(18	)		—			—			—		—			—			—
Restricted stock canceled		(46	)		—			—			—			—			—		—			—			—
Other adjustment		—			—			—			(89	)		—			—		—			—			(89	)
Shares withheld for net    settlements of share-    based awards [1]		(229	)		(1	)		(1,300	)		—			—			—		—			—			(1,301	)
Issuance of common    stock - ESPP		21			—			150			—			—			—		—			—			150
Net income (loss)		—			—			—			130,283			—			—		—			(119	)		130,164
Other comprehensive income    (loss)		—			—			—			—			(6,421	)		—		—			31			(6,390	)
Balance, September 30, 2022		124,057		$	1,290		$	1,288,075		$	(45,766	)	$	(26,637	)		4,852	$	(105,099	)	$	(1,283	)	$	1,110,580

	Common shares						Additional Paid-In			Accumulated			Accumulated Other Comprehensive			Treasury shares					Noncontrolling			Total Shareholders'
	Shares			Amount			Capital			Deficit			Loss			Shares		Amount			Interests			Equity
For the Nine Months Ended    September 30, 2021
Balance, January 1, 2021		121,318		$	1,262		$	1,262,267		$	(222,892	)	$	(22,589	)		4,835	$	(104,946	)	$	(1,020	)	$	912,082
Proceeds from exercise    of stock options		—			—			—			—			—			—		—			—			-
Stock-based compensation    expense		—			—			15,755			—			—			—		—			—			15,755
Restricted stock granted		1,551			16			(16	)		—			—			—		—			—			-
Restricted stock canceled		(154	)		(2	)		2			—			—			—		—			—			-
Dividends paid		—			—			—			(30,487	)		—			—		—			—			(30,487	)
Shares withheld for net    settlements of share-    based awards [1]		(268	)		(3	)		(2,088	)		—			—			—		—			—			(2,091	)
Issuance of common    stock - ESPP		35			—			252			—			—			—		—			—			252
Purchase of treasury shares		(17	)		—			—			—			—			17		(153	)		—			(153	)
Other adjustment to additional paid-in capital		—			—			(3,447	)		—			—			—		—			—			(3,447	)
Net income (loss)		—			—			—			127,214			—			—		—			(157	)		127,057
Other comprehensive    income (loss)		—			—			—			—			(1,265	)		—		—			3			(1,262	)
Balance, September 30, 2021		122,465		$	1,273		$	1,272,725		$	(126,165	)	$	(23,854	)		4,852	$	(105,099	)	$	(1,174	)	$	1,017,706

[1] The Company withheld shares through net settlements to satisfy statutory tax withholding requirements upon the vesting of shares

of restricted stock held by employees.

[2] Represents a reclassification from equity to other non-current liabilities in connection with an Amended and Restated Executive

Retirement Agreement with the Company's former CEO as the former CEO's retirement payment will no longer be settled with a fixed

number of shares but will instead be paid in cash. Refer to Note 13 - Benefit Plans for further information.

Schedule of Accumulated Other Comprehensive Income (Loss)

The components of accumulated other comprehensive income (loss) attributable to GEO within shareholders' equity are as follows:

	Nine Months Ended September 30, 2022
	(In thousands)
	Foreign currency translation adjustments, net of tax (1)			Change in fair value of derivatives, net of tax			Change in marketable securities, net of tax			Pension adjustments, net of tax			Total
Balance, January 1, 2022	$	(12,461	)	$	(2,524	)	$	7		$	(5,238	)	$	(20,216	)
Current-period other comprehensive income (loss)		(11,679	)		6,247			(1,245	)		256			(6,421	)
Balance, September 30, 2022	$	(24,140	)	$	3,723		$	(1,238	)	$	(4,982	)	$	(26,637	)

	Nine Months Ended September 30, 2021
	(In thousands)
	Foreign currency translation adjustments, net of tax (1)			Change in fair value of derivatives, net of tax			Pension adjustments, net of tax			Total
Balance, January 1, 2021	$	(9,207	)	$	(4,752	)	$	(8,630	)	$	(22,589	)
Current-period other comprehensive income (loss)		(3,825	)		2,093			467			(1,265	)
Balance, September 30, 2021	$	(13,032	)	$	(2,659	)	$	(8,163	)	$	(23,854	)

(1)The foreign currency translation related to noncontrolling interests was not significant at September 30, 2022 or 2021.