Shareholders' Equity (Tables)

3 Months Ended

Mar. 31, 2023

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 months ended March 31, 2023 and 2022 (in thousands):

	Common shares						Additional Paid-In			Retained Earnings (Accumulated			Accumulated Other Comprehensive			Treasury shares						Noncontrolling			Total Shareholders'
	Shares			Amount			Capital			Deficit)			Loss			Shares			Amount			Interests			Equity
For the Three Months Ended    March 31, 2023
Balance, December 31, 2022		124,061		$	1,289		$	1,291,363		$	(4,236	)	$	(16,919	)		4,852		$	(105,099	)	$	(1,310	)	$	1,165,088
Proceeds from exercise    of stock options		7			—			49			—			—			—			—			—			49
Stock-based compensation    expense		—			—			5,578			—			—			—			—			—			5,578
Restricted stock granted		1,641			16			(16	)		—			—			—			—			—			—
Restricted stock canceled		(18	)		—			—			—			—			—			—			—			—
Sale of treasury shares [2]		642			—			(4,174	)		—			—			(642	)		9,924			—			5,750
Shares withheld for net    settlements of share-    based awards [1]		(383	)		(4	)		(3,441	)		—			—			—			—			—			(3,445	)
Issuance of common    stock - ESPP		5			1			40						—			—			—			—			41
Net income (loss)		—			—			—			28,003			—			—			—			(9	)		27,994
Other comprehensive income    (loss)		—			—			—			—			(2,016	)		—			—			10			(2,006	)
Balance, March 31, 2023		125,955		$	1,302		$	1,289,399		$	23,767		$	(18,935	)		4,210		$	(95,175	)	$	(1,309	)	$	1,199,049

	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    March 31, 2022
Balance, December 31, 2021		122,472		$	1,273		$	1,276,213		$	(175,960	)	$	(20,216	)		4,852	$	(105,099	)	$	(1,195	)	$	975,016
Stock-based compensation    expense		—			—			6,313			—			—			—		—			—			6,313
Restricted stock granted		1,784			18			(18	)		—			—			—		—			—			-
Restricted stock canceled		(26	)		—			—			—			—			—		—			—			-
Shares withheld for net    settlements of share-    based awards [1]		(226	)		(2	)		(1,283	)		—			—			—		—			—			(1,285	)
Issuance of common    stock - ESPP		7			—			43			—			—			—		—			—			43
Net income (loss)		—			—			—			38,219			—			—		—			(40	)		38,179
Other comprehensive income    (loss)		—			—			—			—			2,584			—		—			(15	)		2,569
Balance, March 31, 2022		124,011		$	1,289		$	1,281,268		$	(137,741	)	$	(17,632	)		4,852	$	(105,099	)	$	(1,250	)	$	1,020,835

[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] The Company sold treasury shares to partially fund its obligation under its Amended and Restated Executive Retirement

Agreement with its Executive Chairman. 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:

	Three Months Ended March 31, 2023
	(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, 2023	$	(20,015	)	$	3,645		$	(953	)	$	404	$	(16,919	)
Current-period other comprehensive income (loss)		(1,389	)		(1,027	)		400			0		(2,016	)
Balance, March 31, 2023	$	(21,404	)	$	2,618		$	(553	)	$	404	$	(18,935	)

	Three Months Ended March 31, 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)		440			2,464			(405	)		85			2,584
Balance, March 31, 2022	$	(12,021	)	$	(60	)	$	(398	)	$	(5,153	)	$	(17,632	)

(1)The foreign currency translation related to noncontrolling interests was not significant at March 31, 2023 or 2022.