XML 81 R27.htm IDEA: XBRL DOCUMENT v2.4.0.8
Shareholders' Equity (Tables)
6 Months Ended
Jun. 30, 2014
Equity [Abstract]  
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
)
 
14,581

 
$
(53,579
)
 
$
454

 
$
1,023,976

Proceeds from exercise of stock options
293

 
3

 
5,528

 

 

 

 

 

 
5,531

Tax benefit related to equity compensation

 

 
1,351

 

 

 

 

 

 
1,351

Stock-based compensation expense

 

 
4,533

 

 

 

 

 

 
4,533

Restricted stock granted
308

 
3

 
(3
)
 

 

 
 
 

 

 

Dividends paid

 

 

 
(82,656
)
 

 

 

 

 
(82,656
)
Shares withheld for net settlements of share-based awards
(43
)
 

 

 

 

 
43

 
(1,416
)
 

 
(1,416
)
Re-issuance of treasury shares (ESPP)
6

 

 
161

 

 

 
(6
)
 
23

 

 
184

Retirement of treasury shares

 
(146
)
 
(54,826
)
 

 

 
(14,618
)
 
54,972

 

 

Net income

 

 

 
66,888

 

 

 

 
6

 
66,894

Other comprehensive loss

 

 

 

 
1,687

 

 

 
(4
)
 
1,683

Balance, June 30, 2014
72,633

 
$
726

 
$
804,762

 
$
216,878

 
$
(2,742
)
 

 
$

 
$
456

 
$
1,020,080

Dividends Declared
During the six months ended June 30, 2014 and the year ended December 31, 2013, respectively, GEO declared and paid the following regular cash distributions to its shareholders 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
April 28, 2014
 
May 27, 2014
 
May 15, 2014
 
$0.57
 
$41.5
Schedule of accumulated other comprehensive income (loss)
The components of accumulated other comprehensive income (loss) attributable to GEO within shareholders' equity are as follows:

 
 
Six Months Ended June 30, 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
 
1,628

 
20

 
39

 
1,687

Balance, June 30, 2014
 
$
(813
)
 
$
(254
)
 
$
(1,675
)
 
$
(2,742
)

[1] The foreign currency translation related to noncontrolling interests was not significant at June 30, 2014 or December 31, 2013.