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Summary of Business Organization, Operations and Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Future minimum rentals on lease
As of December 31, 2014, future minimum rentals to be received on these leases are as follows:
 
Year
Annual Rental
 
(In thousands)
2015
$
5,030

2016
5,054

2017
5,206

2018
351

 
$
15,641
Components of accumulated other comprehensive income (loss)
The components of accumulated other comprehensive loss attributable to GEO included in the consolidated statement of shareholders' equity are as follows (in thousands):
 
 
Foreign currency translation adjustments, net of tax attributable to The GEO Group, Inc. [1]

 
Unrealized loss 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
 
(4,462
)
 
(16,048
)
 
(2,522
)
 
(23,032
)
Balance, December 31, 2014
 
$
(6,903
)
 
$
(16,322
)
 
$
(4,236
)
 
$
(27,461
)
[1] The foreign currency translation adjustment, net of tax, related to noncontrolling interests was not significant for the year ended December 31, 2014 or December 31, 2013.
Fair value of stock-based awards
The fair value of stock-based option awards was estimated using the Black-Scholes option-pricing model with the following weighted average assumptions for options awarded during years 2014 and 2012 (there were no options awarded during 2013):
 
 
 
2014
 
2012
Risk free interest rates
 
0.62
%
 
0.78
%
Expected term
 
4-5 years

 
4-5 years

Expected volatility
 
27
%
 
40
%
Expected dividend rate
 
7.00
%
 
3.00
%