Earnings Per Share

12 Months Ended

Dec. 31, 2012

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

Basic and diluted earnings per share (“EPS”) from continuing operations were calculated for the fiscal years ended December 31, 2012, January 1, 2012 and January 2, 2011 as follows:

Fiscal Year	2012		2011		2010
	(In thousands, except per share data)
Income from continuing operations	$	144,558	$	69,644	$	54,371
Loss attributable to noncontrolling interests	852		1,162		678
Income from continuing operations attributable to The GEO Group, Inc.	$	145,410	$	70,806	$	55,049
Basic earnings per share:
Weighted average shares outstanding	60,934		63,425		55,379
Per share amount from continuing operations:	$	2.37	$	1.10	$	0.98
Per share amount from continuing operations attributable to The GEO Group, Inc.:	$	2.39	$	1.12	$	0.99
Diluted earnings per share:
Weighted average shares outstanding	60,934		63,425		55,379
Diluted effect of equity incentive plans	331		315		610
Weighted average shares assuming dilution	61,265		63,740		55,989
Per share amount from continuing operations:	$	2.36	$	1.09	$	0.97
Per share amount from continuing operations attributable to The GEO Group, Inc.:	$	2.37	$	1.11	$	0.98

As discussed in Note 3 - Shareholders' Equity, on December 31, 2012, GEO paid a Special Dividend in connection with its conversion to a REIT. The shareholders were allowed to elect to receive their entire payment of the special dividend in either cash or in shares of common stock, except that GEO placed a limit on the aggregate amount of cash payable to the shareholders.

Under ASC 505, Equity and ASU 2010-01, Accounting for Distributions to Shareholders with Components of Stock and Cash, a consensus of the FASB Emerging Issues Task Force, a distribution that allows shareholders to elect to receive cash or stock with a potential limitation on the total amount of cash that all shareholders can elect to receive in the aggregate is considered a share issuance that is reflected in earnings per share prospectively. As such, the stock portion of the Special Dividend is presented prospectively in basic and diluted earnings per share as presented above and was not presented retroactively for all periods presented.

For the fiscal year ended December 31, 2012, 62,769 weighted average shares of stock underlying options were excluded from the computation of diluted EPS because the effect would be anti-dilutive. No shares of restricted stock were anti-dilutive.

For the fiscal year ended January 1, 2012, 105,307 weighted average shares of stock underlying options were excluded from the computation of diluted EPS because the effect would be anti-dilutive. No shares of restricted stock were anti-dilutive.

For the fiscal year ended January 2, 2011, 25,570 weighted average shares of stock underlying options were excluded from the computation of diluted EPS because the effect would be anti-dilutive. No shares of restricted stock were anti-dilutive.