Condensed Consolidating Financial Information (Tables)

12 Months Ended

Dec. 31, 2018

Condensed Consolidating Financial Information Disclosure [Abstract]

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME

(in thousands)

	For the Year Ended December 31, 2018
	The GEO Group, Inc.			Combined Subsidiary Guarantors			Combined Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues	$	827,473		$	1,905,243		$	268,723		$	(670,053	)	$	2,331,386
Operating expenses	664,354			1,539,343			222,128			(670,053		)	1,755,772
Depreciation and amortization	27,036			95,504			3,894			—			126,434
General and administrative expenses	64,852			98,601			21,062			—			184,515
Operating income	71,231			171,795			21,639			—			264,665
Interest income	14,702			5,494			35,501			(20,942		)	34,755
Interest expense	(81,456		)	(56,194		)	(33,395		)	20,942			(150,103		)
Income before income taxes and equity in earnings of affiliates	4,477			121,095			23,745			—			149,317
Provision for income taxes	972			7,424			5,721			—			14,117
Equity in earnings of affiliates, net of income tax provision	—			—			9,627			—			9,627
Income from operations before equity in income of consolidated subsidiaries	3,505			113,671			27,651			—			144,827
Income from consolidated subsidiaries, net of income tax provision	141,322			—			—			(141,322		)	—
Net income	144,827			113,671			27,651			(141,322		)	144,827
Loss attributable to noncontrolling interests	—			—			262			—			262
Net income attributable to The GEO Group, Inc.	$	144,827		$	113,671		$	27,913		$	(141,322	)	$	145,089
Net income	$	144,827		$	113,671		$	27,651		$	(141,322	)	$	144,827
Other comprehensive income (loss), net of tax	—			1,785			(972		)	—			813
Total comprehensive income	$	144,827		$	115,456		$	26,679		$	(141,322	)	$	145,640
Comprehensive loss attributable to noncontrolling interests	—			—			277			—			277
Comprehensive income attributable to The GEO Group, Inc.	$	144,827		$	115,456		$	26,956		$	(141,322	)	$	145,917

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME

(in thousands)

	For the Year Ended December 31, 2017
	The GEO Group, Inc.			Combined Subsidiary Guarantors			Combined Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues	$	711,013		$	1,810,262		$	321,612		$	(579,467	)	$	2,263,420
Operating expenses	568,061			1,441,884			270,017			(579,467		)	1,700,495
Depreciation and amortization	24,580			96,051			3,666			—			124,297
General and administrative expenses	59,194			104,373			26,776			—			190,343
Operating income	59,178			167,954			21,153			—			248,285
Interest income	16,200			4,294			52,069			(20,887		)	51,676
Interest expense	(69,969		)	(55,080		)	(43,862		)	20,887			(148,024		)
Income before income taxes and equity in earnings of affiliates	5,409			117,168			29,360			—			151,937
Provision for income taxes	1,103			9,608			7,247			—			17,958
Equity in earnings of affiliates, net of income tax benefit	—			—			12,045			—			12,045
Income from operations before equity in income of consolidated subsidiaries	4,306			107,560			34,158			—			146,024
Income from consolidated subsidiaries, net of income tax provision	141,718			—			—			(141,718		)	—
Net income	146,024			107,560			34,158			(141,718		)	146,024
Loss attributable to noncontrolling interests	$	—		$	—		$	217		$	—		$	217
Net income attributable to The GEO Group, Inc.	$	146,024		$	107,560		$	34,375		$	(141,718	)	$	146,241
Net income	$	146,024		$	107,560		$	34,158		$	(141,718	)	$	146,024
Other comprehensive income (loss), net of tax	—			(1,420		)	7,793			—			6,373
Total comprehensive income	$	146,024		$	106,140		$	41,951		$	(141,718	)	$	152,397
Comprehensive loss attributable to noncontrolling interests	—			—			211			—			211
Comprehensive income attributable to The GEO Group, Inc.	$	146,024		$	106,140		$	42,162		$	(141,718	)	$	152,608

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME

(in thousands)

	For the Year ended December 31, 2016
	The GEO  Group, Inc.			Combined Subsidiary Guarantors			Combined Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues	$	697,292		$	1,626,690		$	420,019		$	(564,511	)	$	2,179,490
Operating expenses	560,694			1,283,447			370,651			(564,511		)	1,650,281
Depreciation and amortization	25,224			85,852			3,840			—			114,916
General and administrative expenses	47,354			72,831			28,524			—			148,709
Operating income	64,020			184,560			17,004			—			265,584
Interest income	20,409			1,842			28,944			(22,699		)	28,496
Interest expense	(65,018		)	(55,295		)	(31,104		)	22,699			(128,718		)
Loss on early extinguishment of debt	(15,885		)	—			—			—			(15,885		)
Income before income taxes and equity in earnings of affiliates	3,526			131,107			14,844			—			149,477
Provision for income taxes	1,124			2,108			4,672			—			7,904
Equity in earnings of affiliates, net of income tax provision	—			—			6,925			—			6,925
Income from operations before equity in income of consolidated subsidiaries	2,402			128,999			17,097			—			148,498
Income from consolidated subsidiaries, net of income tax provision	146,096			—			—			(146,096		)	—
Net income	148,498			128,999			17,097			(146,096		)	148,498
Loss attributable to noncontrolling interests	$	—		$	—		$	217		$	—		$	217
Net income attributable to The GEO Group, Inc.	$	148,498		$	128,999		$	17,314		$	(146,096	)	$	148,715
Net income	$	148,498		$	128,999		$	17,097		$	(146,096	)	$	148,498
Other comprehensive income (loss), net of tax	—			(704		)	2,302			—			1,598
Total comprehensive income	$	148,498		$	128,295		$	19,399		$	(146,096	)	$	150,096
Comprehensive loss attributable to noncontrolling interests	—			—			198			—			198
Comprehensive income attributable to The GEO Group, Inc.	$	148,498		$	128,295		$	19,597		$	(146,096	)	$	150,294

CONDENSED CONSOLIDATING BALANCE SHEET

CONDENSED CONSOLIDATING BALANCE SHEET

(in thousands)

	As of December 31, 2018
	The GEO Group, Inc.		Combined Subsidiary Guarantors		Combined Non-Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
Cash and cash equivalents	$	4,468	$	7,873	$	18,914		$	—		$	31,255
Restricted cash and investments	2,854		—		48,824			—			51,678
Accounts receivable, less allowance for doubtful accounts	190,594		221,957		44,377			(11,402		)	445,526
Contract receivable, current portion	—		—		15,535			—			15,535
Prepaid expenses and other current assets	2,011		39,827		7,114			(1,839		)	47,113
Total current assets	199,927		269,657		134,764			(13,241		)	591,107
Restricted Cash and Investments	—		21,009		1,422			—			22,431
Property and Equipment, Net	845,291		1,227,223		86,096			—			2,158,610
Contract Receivable	—		—		368,178			—			368,178
Assets Held for Sale	705		1,929		—			—			2,634
Intercompany Receivable	990,365		150,710		22,407			(1,163,482		)	—
Deferred Income Tax Assets	798		27,928		1,198			—			29,924
Goodwill	—		775,955		404			—			776,359
Intangible Assets, Net	—		231,787		573			—			232,360
Investment in Subsidiaries	1,503,841		458,229		2,190			(1,964,260		)	—
Other Non-Current Assets	9,541		115,695		19,334			(78,710		)	65,860
Total Assets	$	3,550,468	$	3,280,122	$	636,566		$	(3,219,693	)	$	4,247,463
LIABILITIES AND SHAREHOLDERS’ EQUITY
Accounts payable	$	13,566	$	72,128	$	7,338		$	—		$	93,032
Accrued payroll and related taxes	—		56,543		19,466			—			76,009
Accrued expenses and other current liabilities	23,565		157,576		25,615			(13,241		)	193,515
Current portion of capital lease obligations, long-term debt and non-recourse debt	8,000		2,017		322,010			—			332,027
Total current liabilities	45,131		288,264		374,429			(13,241		)	694,583
Deferred Income Tax Liabilities	—		—		13,681			—			13,681
Intercompany Payable	142,055		989,856		31,571			(1,163,482		)	—
Other Non-Current Liabilities	1,395		152,815		6,981			(78,710		)	82,481
Capital Lease Obligations	—		4,570		—			—			4,570
Long-Term Debt	2,321,384		—		75,843			—			2,397,227
Non-Recourse Debt	—		—		15,017			—			15,017
Commitments & Contingencies
Shareholders' Equity:
Total shareholders’ equity attributable to The GEO Group, Inc.	1,040,503		1,844,617		119,643			(1,964,260		)	1,040,503
Noncontrolling Interests	—		—		(599		)	—			(599		)
Total Shareholders’ Equity	1,040,503		1,844,617		119,044			(1,964,260		)	1,039,904
Total Liabilities and Shareholders' Equity	$	3,550,468	$	3,280,122	$	636,566		$	(3,219,693	)	$	4,247,463

CONDENSED CONSOLIDATING BALANCE SHEET

(in thousands)

	As of December 31, 2017
	The GEO Group, Inc.		Combined Subsidiary Guarantors		Combined Non-Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
Cash and cash equivalents	$	54,666	$	—	$	26,711		$	—		$	81,377
Restricted cash and investments	—		—		44,932			—			44,932
Accounts receivable, less allowance for doubtful accounts	130,354		225,029		34,533			—			389,916
Contract receivable, current portion	—		—		18,142			—			18,142
Prepaid expenses and other current assets	2,589		24,163		18,590			—			45,342
Total current assets	187,609		249,192		142,908			—			579,709
Restricted Cash and Investments	—		25,715		2,284			—			27,999
Property and Equipment, Net	777,404		1,209,816		90,903			—			2,078,123
Contract Receivable	—		—		404,309			—			404,309
Assets Held for Sale	—		3,915		—			—			3,915
Intercompany Receivable	1,130,189		88,534		28,218			(1,246,941		)	—
Deferred Income Tax Assets	863		23,913		1,501			—			26,277
Goodwill	—		778,504		447			—			778,951
Intangible Assets, Net	—		254,531		808			—			255,339
Investment in Subsidiaries	1,336,665		456,076		2,190			(1,794,931		)	—
Other Non-Current Assets	11,141		115,330		25,210			(79,395		)	72,286
Total Assets	$	3,443,871	$	3,205,526	$	698,778		$	(3,121,267	)	$	4,226,908
LIABILITIES AND SHAREHOLDERS’ EQUITY
Accounts payable	$	20,643	$	65,475	$	6,469		$	—		$	92,587
Accrued payroll and related taxes	—		51,780		19,952			—			71,732
Accrued expenses and other current liabilities	40,344		115,636		20,344			—			176,324
Current portion of capital lease obligations, long-term debt and non-recourse debt	8,000		1,870		19,050			—			28,920
Total current liabilities	68,987		234,761		65,815			—			369,563
Deferred Income Tax Liabilities	—		—		8,757			—			8,757
Intercompany Payable	79,984		1,129,590		37,367			(1,246,941		)	—
Other Non-Current Liabilities	4,674		157,200		14,223			(79,395		)	96,702
Capital Lease Obligations	—		6,059		—			—			6,059
Long-Term Debt	2,090,985		—		90,559			—			2,181,544
Non-Recourse Debt	—		—		365,364			—			365,364
Commitments & Contingencies
Shareholders' Equity:
Total shareholders’ equity attributable to The GEO Group, Inc.	1,199,241		1,677,916		117,015			(1,794,931		)	1,199,241
Noncontrolling Interests	—		—		(322		)	—			(322		)
Total Shareholders’ Equity	1,199,241		1,677,916		116,693			(1,794,931		)	1,198,919
Total Liabilities and Shareholders' Equity	$	3,443,871	$	3,205,526	$	698,778		$	(3,121,267	)	$	4,226,908

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

(in thousands)

	For the Year Ended December 31, 2018
	The GEO Group, Inc.			Combined Subsidiary Guarantors			Combined Non-Guarantor Subsidiaries			Consolidated
Cash Flow from Operating Activities:
Net cash provided by operating activities	$	156,754		$	86,974		$	30,747		$	274,475
Cash Flow from Investing Activities:
Proceeds from sale of property and equipment	—			268			1,809			2,077
Insurance proceeds - damaged property	—			1,438			—			1,438
Proceeds from sale of assets held for sale	—			3,797			—			3,797
Change in restricted investments	—			(129		)	—			(129		)
Capital expenditures	(104,034		)	(89,310		)	(2,322		)	(195,666		)
Net cash used in investing activities	(104,034		)	(83,936		)	(513		)	(188,483		)
Cash Flow from Financing Activities:
Payments on long-term debt	(276,000		)	—			(6,358		)	(282,358		)
Proceeds from long-term debt	502,998			—			—			502,998
Payments on non-recourse debt	—			—			(18,544		)	(18,544		)
Taxes paid related to net share settlements of equity awards	(3,820		)	—			—			(3,820		)
Payment for repurchases of common stock	(95,175		)	—			—			(95,175		)
Debt issuance costs	(990		)	—			—			(990		)
Proceeds from stock options exercised	1,887			—			—			1,887
Dividends paid	(229,498		)	—			—			(229,498		)
Proceeds from issuance of common stock in connection with ESPP	534			—			—			534
Net cash used in financing activities	(100,064		)	—			(24,902		)	(124,966		)
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash and Cash Equivalents	—			—			(10,099		)	(10,099		)
Net (Decrease) Increase in Cash. Cash Equivalents and Restricted Cash and Cash Equivalents	(47,344		)	3,038			(4,767		)	(49,073		)
Cash, Cash Equivalents and Restricted Cash and Cash Equivalents, beginning of period	54,666			4,952			73,927			133,545
Cash, Cash Equivalents and Restricted Cash and Cash Equivalents, end of period	$	7,322		$	7,990		$	69,160		$	84,472

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

(in thousands)

	For the Year Ended December 31, 2017
	The GEO Group Inc.			Combined Subsidiary Guarantors			Combined Non-Guarantor Subsidiaries			Consolidated
Cash Flow from Operating Activities:
Net cash provided by operating activities	$	118,018		$	91,174		$	171,850		$	381,042
Cash Flow from Investing Activities:
Acquisition of CEC, cash consideration, net of cash acquired	(353,556		)	—			—			(353,556		)
Proceeds from sale of property and equipment	3,436			—			24			3,460
Insurance proceeds - damaged property	2,754			—			—			2,754
Change in restricted cash and investments	—			(4,507		)	—			(4,507		)
Capital expenditures	(53,030		)	(86,336		)	(9,040		)	(148,406		)
Net cash used in investing activities	(400,396		)	(90,843		)	(9,016		)	(500,255		)
Cash Flow from Financing Activities:
Payments on long-term debt	(1,140,788		)	—			—			(1,140,788		)
Proceeds from long-term debt	1,389,084			—			—			1,389,084
Payments on non-recourse debt	—			—			(307,414		)	(307,414		)
Proceeds from non-recourse debt	—			—			181,658			181,658
Taxes paid related to net share settlements of equity awards	(4,142		)	—			—			(4,142		)
Debt issuance costs	(8,701		)	—			(841		)	(9,542		)
Proceeds from stock options exercised	6,962			—			—			6,962
Dividends paid	(227,463		)	—			—			(227,463		)
Proceeds from issuance of common stock in connection with ESPP	497						—			497
Proceeds from issuance of common stock in connection with public offering	275,867			—			—			275,867
Net cash provided by (used in) financing activities	291,316			—			(126,597		)	164,719
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash and Cash Equivalents	—			—			(2,318		)	(2,318		)
Net Increase in Cash, Cash Equivalents and Restricted Cash and Cash Equivalents	8,938			331			33,919			43,188
Cash, Cash Equivalents and Restricted Cash and Cash Equivalents, beginning of period	45,728			4,621			40,008			90,357
Cash, Cash Equivalents and Restricted Cash and Cash Equivalents, end of period	$	54,666		$	4,952		$	73,927		$	133,545

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

(in thousands)

	For the Year Ended December 31, 2016
	The GEO Group Inc.			Combined Subsidiary Guarantors			Combined Non-Guarantor Subsidiaries			Consolidated
Cash Flow from Operating Activities:
Net cash provided by (used in) operating activities	154,125			66,009			(248,162		)	(28,028		)
Cash Flow from Investing Activities:
Proceeds from sale of property and equipment	2,030			—			—			2,030
Insurance proceeds - damaged property	—			—			4,733			4,733
Change in restricted cash and investments	—			(2,892		)	—			(2,892		)
Capital expenditures	(14,040		)	(61,811		)	(5,714		)	(81,565		)
Net cash used in investing activities	(12,010		)	(64,703		)	(981		)	(77,694		)
Cash Flow from Financing Activities:
Proceeds from long-term debt	1,012,945			—			—			1,012,945
Payments on long-term debt	(934,006		)				—			(934,006		)
Payments on non-recourse debt	—			—			(10,064		)	(10,064		)
Proceeds from non-recourse debt	—			—			266,835			266,835
Income tax benefit of equity compensation	(844		)	—			(782		)	(1,626		)
Taxes paid related to net share settlements of equity awards	(2,336		)	—			—			(2,336		)
Debt issuance costs	(16,980		)	—			(4,135		)	(21,115		)
Proceeds from stock options exercised	2,367			—			980			3,347
Dividends paid	(194,748		)	—			—			(194,748		)
Proceeds from issuance of common stock in connection with ESPP	—			—			436			436
Net cash provided by (used in) financing activities	(133,602		)	—			253,270			119,668
Effect of Exchange Rate Changes on Cash and Cash Equivalents	—			—			1,119			1,119
Net Increase in Cash and Cash Equivalents	8,513			1,306			5,246			15,065
Cash and Cash Equivalents, beginning of period	37,215			3,315			34,762			75,292
Cash and Cash Equivalents, end of period	$	45,728		$	4,621		$	40,008		$	90,357