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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash Flow from Operating Activities:    
Net income $ 16,385 $ 82,022
Net loss attributable to noncontrolling interests 90 71
Net income attributable to The GEO Group, Inc. 16,475 82,093
Adjustments to reconcile net income attributable to The GEO Group, Inc. to net cash provided by operating activities:    
Depreciation and amortization expense 94,434 94,787
Stock-based compensation 12,322 12,052
Loss on extinguishment of debt 85,298 1,845
Amortization of debt issuance costs, discount and/or premium and other non-cash interest 6,597 8,963
Provision for doubtful accounts   412
Equity in earnings of affiliates, net of tax (1,671) (3,121)
Dividends received from unconsolidated joint ventures 4,586 2,283
Realized/unrealized gain on investments (7,586) (2,644)
Gain on sale/disposal of property and equipment, net (581) (724)
Gain on assets held for sale   (1,274)
Loss on asset divestitures/impairment 2,907  
Changes in assets and liabilities, net of effects of acquisitions:    
Changes in accounts receivable, prepaid expenses and other assets 7,349 45,059
Changes in accounts payable, accrued expenses and other liabilities 3,642 (9,655)
Net cash provided by operating activities 223,772 230,076
Cash Flow from Investing Activities:    
Proceeds from sale of property and equipment   2,690
Proceeds from sale of real estate and other assets   15,109
Purchases of marketable securities (31,747)  
Proceeds from sale of marketable securities 9,399  
Capital expenditures (57,909) (53,569)
Net cash used in investing activities (80,257) (35,770)
Cash Flow from Financing Activities:    
Payments on long-term debt (1,873,874) (131,359)
Proceeds from issuance of long-term debt 1,720,500  
Proceeds from borrowings on revolver 40,000  
Payments for call premiums (35,558)  
Proceeds from sale of treasury shares   5,750
Taxes paid related to net share settlements of equity awards (7,464) (3,442)
Proceeds from issuance of common stock in connection with ESPP 115 117
Debt issuance costs (30,621)  
Proceeds from the exercise of stock options 785 85
Net cash used in financing activities (186,117) (128,849)
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash and Cash Equivalents 1,138 (3,116)
Net (Decrease) Increase in Cash, Cash Equivalents and Restricted Cash and Cash Equivalents (41,464) 62,341
Cash, Cash Equivalents and Restricted Cash and Cash Equivalents, beginning of period 159,867 143,843
Cash, Cash Equivalents and Restricted Cash and Cash Equivalents, end of period 118,403 206,184
Non-cash Investing and Financing activities:    
Right-of-use assets obtained from operating lease liabilities 6,038 32,768
Debt issuance costs in accrued expenses 5,127 3,850
Capital expenditures in accounts payable and accrued expenses $ 4,922 $ 2,409