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Selected Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2012
Quarterly Financial Data [Abstract]  
Selected Quarterly Financial Data (Unaudited)
Selected Quarterly Financial Data (Unaudited)
The Company’s selected quarterly financial data is as follows (in thousands, except per share data attributable to GEO):
 
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter [1]
2012
 
 
 
 
 
 
 
Revenues
$
360,042

 
$
371,174

 
$
369,115

 
$
378,731

Operating income [1]
40,497

 
52,941

 
51,602

 
39,313

Income from continuing operations
13,755

 
20,858

 
14,532

 
95,413

Income (loss) from discontinued operation, net of tax [1]
1,304

 
1,619

 
194

 
(13,777
)
Basic earnings per share
 
 
 
 
 
 
 
Income from continuing operations
$
0.23

 
$
0.34

 
$
0.25

 
$
1.56

Income (loss) from discontinued operations
$
0.02

 
$
0.03

 
$
—

 
$
(0.23
)
Net income per share
$
0.25

 
$
0.37

 
$
0.26

 
$
1.33

Diluted earnings per share
 
 
 
 
 
 
 
Income from continuing operations
$
0.23

 
$
0.34

 
$
0.25

 
$
1.55

Income (loss) from discontinued operations
$
0.02

 
$
0.03

 
$
—

 
$
(0.22
)
Net income per share
$
0.25

 
$
0.37

 
$
0.25

 
$
1.32

 
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
2011
 
 
 
 
 
 
 
Revenues
$
341,959

 
$
356,012

 
$
354,728

 
$
354,473

Operating income
38,738

 
46,298

 
47,265

 
47,298

Income from continuing operations
15,028

 
18,620

 
18,820

 
17,176

Income from discontinued operation, net of tax
1,351

 
2,544

 
2,474

 
1,450

Basic earnings per share
 
 
 
 
 
 
 
Income from continuing operations
$
0.24

 
$
0.30

 
$
0.30

 
$
0.28

Income from discontinued operations
$
0.02

 
$
0.04

 
$
0.04

 
$
0.02

Net income per share
$
0.26

 
$
0.33

 
$
0.34

 
$
0.30

Diluted earnings per share
 
 
 
 
 
 
 
Income from continuing operations
$
0.24

 
$
0.29

 
$
0.30

 
$
0.28

Income from discontinued operations
$
0.02

 
$
0.04

 
$
0.04

 
$
0.02

Net income per share
$
0.26

 
$
0.33

 
$
0.34

 
$
0.30

 
Note that earnings per share tables contain slight summation differences due to rounding.
[1] In the Fourth Quarter of 2012, the Company completed a corporate restructuring in order to operate as a REIT effective January 1, 2013. In connection with the REIT conversion, the Company divested one of its operating segments, RTS, and recorded a loss of $14.6 million, net of tax. Refer to Note 2 - Discontinued Operations for additional information. Also, as a result of the REIT restructuring, the Company recorded an income tax benefit of approximately $79.0 million related to the reversal of certain net deferred tax liabilities. Refer to Note 18 - Income Taxes for additional information.