XML 49 R35.htm IDEA: XBRL DOCUMENT v3.3.1.900
Summary of Business Organization, Operations and Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Future minimum rentals on lease
As of December 31, 2013, future minimum rentals to be received on these leases are as follows:
 
Fiscal Year
Annual Rental
 
(In thousands)
2016
$
5,177

2017
5,206

2018
351

 
$
10,734
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, 2014
 
$
(6,903
)
 
$
(16,322
)
 
$
(4,236
)
 
$
(27,461
)
Current-period other comprehensive loss
 
(4,844
)
 
(1,375
)
 
1,276

 
(4,943
)
Balance, December 31, 2015
 
$
(11,747
)
 
$
(17,697
)
 
$
(2,960
)
 
$
(32,404
)
[1] The foreign currency translation adjustment, net of tax, related to noncontrolling interests was not significant for the year ended December 31, 2015 or December 31, 2014.
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 2015 and 2014 (there were no options awarded during 2013):
 
 
 
2015
 
2014
Risk free interest rates
 
1.00
%
 
0.62
%
Expected term
 
4-5 years

 
4-5 years

Expected volatility
 
24
%
 
27
%
Expected dividend rate
 
5.75
%
 
7.00
%
Fair value assumptions of restricted stock
The fair value of restricted stock awards granted in 2015, 2014 and 2013 with market-based performance conditions was determined based on a Monte Carlo simulation, which calculates a range of possible outcomes and the probabilities that they will occur, using the following average key assumptions:
 
2015
2014
2013
Expected volatility
21.4
%
25.6
%
26.6
%
Beta
0.78

0.74

0.68

Risk free interest rate
0.93
%
0.62
%
0.42
%