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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jul. 01, 2012
Apr. 01, 2012
Dec. 31, 2013
Dec. 31, 2012
Jan. 01, 2012
Income Statement [Abstract]                      
Revenues $ 383,548 $ 379,842 $ 381,653 $ 377,031 $ 378,731 [1] $ 369,115 $ 371,174 $ 360,042 $ 1,522,074 $ 1,479,062 $ 1,407,172
Operating Expenses (excluding depreciation and amortization)                 1,124,865 1,089,232 1,036,010
Depreciation and Amortization                 94,664 91,685 81,548
General and administrative expenses                 117,061 113,792 110,015
Operating Income 48,009 44,829 51,387 41,259 39,313 [1] 51,602 [1] 52,941 [1] 40,497 [1] 185,484 184,353 179,599
Interest Income                 3,324 6,716 7,032
Interest Expense                 (83,004) (82,189) (75,378)
Loss on Extinguishment of Debt                 (20,657) (8,462) 0
Income before income taxes, equity in earnings of affiliates, and discontinued operations                 85,147 100,418 111,253
Provision (Benefit) for Income Taxes                 (26,050) (40,562) 43,172
Equity in Earnings of Affiliates, net of income tax provision of $2,389, $1,660 and $2,406                 6,265 3,578 1,563
Income from Continuing Operations 27,631 32,174 34,219 23,438 95,413 [1] 14,532 20,858 13,755 117,462 144,558 69,644
Income (Loss) from Discontinued Operations, net of income tax provision (benefit) of $0, $(7,805), and $4,753 0 (2,265) 0 0 (13,777) [1] 194 [1] 1,619 [1] 1,304 [1] (2,265) (10,660) 7,819
Net Income 27,631 29,909 34,219 23,438 81,636 [1] 14,727 22,476 15,059 115,197 133,898 77,463
Less: loss attributable to noncontrolling interests                 (62) 852 1,162
Net income attributable to The GEO Group, Inc. $ 27,611 $ 29,897 $ 34,207 $ 23,420 $ 81,608 [1] $ 15,616 $ 22,501 $ 15,025 $ 115,135 $ 134,750 $ 78,625
Weighted Average Common Shares Outstanding:                      
Basic                 71,116 60,934 63,425
Diluted                 71,605 61,265 63,740
Basic earnings per share                      
Income from continuing operations $ 0.39 $ 0.45 $ 0.48 $ 0.33 $ 1.56 [1] $ 0.25 $ 0.34 $ 0.23 $ 1.65 [2] $ 2.39 [2] $ 1.12 [2]
Income (Loss) from discontinued operations $ 0.00 $ (0.03) $ 0.00 $ 0.00 $ (0.23) [1] $ 0.00 $ 0.03 $ 0.02 $ (0.03) [2] $ (0.17) [2] $ 0.12 [2]
Net income per share — basic $ 0.39 $ 0.42 $ 0.48 $ 0.33 $ 1.33 [1] $ 0.26 $ 0.37 $ 0.25 $ 1.62 [2] $ 2.21 [2] $ 1.24 [2]
Diluted:                      
Income from continuing operations $ 0.38 $ 0.45 $ 0.48 $ 0.33 $ 1.55 [1] $ 0.25 $ 0.34 $ 0.23 $ 1.64 [2] $ 2.37 [2] $ 1.11 [2]
Income (Loss) from discontinued operations $ 0.00 $ (0.03) $ 0.00 $ 0.00 $ (0.22) [1] $ 0.00 $ 0.03 $ 0.02 $ (0.03) [2] $ (0.17) [2] $ 0.12 [2]
Net income per share — diluted $ 0.38 $ 0.42 $ 0.48 $ 0.33 $ 1.32 [1] $ 0.25 $ 0.37 $ 0.25 $ 1.61 [2] $ 2.20 [2] $ 1.23 [2]
[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 17 - Income Taxes for additional information.
[2] Note that earnings per share tables may contain summation differences due to rounding.