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Shareholders' Equity (Tables)
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3 Months Ended |
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Mar. 31, 2014
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| Equity [Abstract] |
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| Changes in shareholders' equity that are attributable to the Company's shareholders and to noncontrolling interests |
The following table presents the changes in shareholders’ equity that are attributable to the Company’s shareholders and to noncontrolling interests (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Common shares | | Additional Paid-In | | Earnings in Excess of | | Accumulated Other Comprehensive | | Treasury shares | | Noncontrolling | | Total Shareholders' | | Shares | | Amount | | Capital | | Distributions | | Income (Loss) | | Shares | | Amount | | Interests | | Equity | Balance, December 31, 2013 | 72,082 |
| | $ | 866 |
| | $ | 848,018 |
| | $ | 232,646 |
| | $ | (4,429 | ) | | 14,580 |
| | $ | (53,579 | ) | | $ | 454 |
| | $ | 1,023,976 |
| Proceeds from exercise of stock options | 177 |
| | 2 |
| | 3,273 |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 3,275 |
| Tax benefit related to equity compensation | — |
| | — |
| | 558 |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 558 |
| Stock based compensation expense | — |
| | — |
| | 452 |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 452 |
| Restricted stock granted | 308 |
| | 3 |
| | (3 | ) | | — |
| | — |
| | | | — |
| | — |
| | — |
| Amortization of restricted stock | — |
| | — |
| | 2,014 |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 2,014 |
| Dividends paid | — |
| | — |
| | — |
| | (41,139 | ) | | — |
| | — |
| | — |
| | — |
| | (41,139 | ) | Re-issuance of treasury shares (ESPP) | 3 |
| | — |
| | 73 |
| | — |
| | — |
| | (3 | ) | | 11 |
| | — |
| | 84 |
| Net income | — |
| | — |
| | — |
| | 27,990 |
| | — |
| | — |
| | — |
| | 6 |
| | 27,996 |
| Other comprehensive loss | — |
| | — |
| | — |
| | — |
| | 1,050 |
| | — |
| | — |
| | (4 | ) | | 1,046 |
| Balance, March 31, 2014 | 72,570 |
| | $ | 871 |
| | $ | 854,385 |
| | $ | 219,497 |
| | $ | (3,379 | ) | | 14,577 |
| | $ | (53,568 | ) | | $ | 456 |
| | $ | 1,018,262 |
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| Dividends Declared |
During the three months ended March 31, 2014 and the year ended December 31, 2013, respectively, GEO declared and paid the following regular cash distributions to its stockholders as follows: | | | | | | | | | | Declaration Date | | Payment Due | | Record Date | | Distribution Per Share | | Aggregate Payment Amount (in millions) | January 17, 2013 | | March 1, 2013 | | February 15, 2013 | | $0.50 | | $35.7 | May 7, 2013 | | June 3, 2013 | | May 20, 2013 | | $0.50 | | $35.8 | July 30, 2013 | | August 29, 2013 | | August 19, 2013 | | $0.50 | | $36.1 | November 1, 2013 | | November 26, 2013 | | November 14, 2013 | | $0.55 | | $39.6 | February 18, 2014 | | March 14, 2014 | | March 3, 2014 | | $0.57 | | $41.1 |
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| Schedule of accumulated other comprehensive income (loss) |
The components of accumulated other comprehensive income (loss) attributable to GEO included in the consolidated statement of shareholders' equity are as follows:
| | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, 2014 | | | (In thousands) | | | Foreign currency translation adjustments, net of tax attributable to The GEO Group, Inc. [1] | | Unrealized (loss)/gain on derivatives, net of tax | | Pension adjustments, net of tax | | Total | Balance, December 31, 2013 | | $ | (2,441 | ) | | $ | (274 | ) | | $ | (1,714 | ) | | $ | (4,429 | ) | Current-period other comprehensive (loss) income | | 1,004 |
| | 27 |
| | 19 |
| | 1,050 |
| Balance, March 31, 2014 | | $ | (1,437 | ) | | $ | (247 | ) | | $ | (1,695 | ) | | $ | (3,379 | ) |
[1] The foreign currency translation related to noncontrolling interests was not significant at March 31, 2014 or December 31, 2013. |