XML 20 R8.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash Flow from Operating Activities:    
Net income $ 40,649 $ 34,920
Net loss attributable to noncontrolling interests 56 67
Net income attributable to The GEO Group, Inc. 40,705 34,987
Adjustments to reconcile net income attributable to The GEO Group, Inc. to net cash provided by operating activities:    
Depreciation and amortization expense 32,469 31,926
Stock-based compensation 6,727 5,827
Amortization of debt issuance costs, discount and/or premium and other non-cash interest 2,563 2,138
Provision for doubtful accounts 131 195
Equity in earnings of affiliates, net of tax (2,596) (1,995)
Dividends received from unconsolidated joint venture 3,088 736
Loss on sale/disposal of property and equipment, net 697 (350)
Loss on assets held for sale 1,083 0
Changes in assets and liabilities, net of effects of acquisitions:    
Changes in accounts receivable, prepaid expenses and other assets 27,527 7,525
Changes in contract receivable 1,446 6,298
Changes in accounts payable, accrued expenses and other liabilities (14,829) (17,601)
Net cash provided by operating activities 99,011 69,686
Cash Flow from Investing Activities:    
Insurance proceeds - damaged property 2,503 4,504
Proceeds from sale of property and equipment 274 0
Proceeds from sale of assets held for sale 0 3,797
Change in restricted investments (4,062) (505)
Capital expenditures (28,084) (52,147)
Net cash used in investing activities (29,369) (44,351)
Cash Flow from Financing Activities:    
Proceeds from long-term debt 130,000 102,000
Payments on long-term debt (96,926) (43,000)
Payments on non-recourse debt (2,089) (5,600)
Taxes paid related to net share settlements of equity awards (4,172) (4,356)
Proceeds from issuance of common stock in connection with ESPP 124 140
Payment for repurchases of common stock 0 (40,182)
Proceeds from the exercise of stock options 333 260
Cash dividends paid (57,945) (58,238)
Net cash used in financing activities (30,675) (48,976)
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash and Cash Equivalents 366 (655)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash and Cash Equivalents 39,333 (24,296)
Cash, Cash Equivalents and Restricted Cash and Cash Equivalents, beginning of period 84,472 133,545
Cash, Cash Equivalents and Restricted Cash and Cash Equivalents, end of period 123,805 109,249
Non-cash Investing and Financing activities:    
Right-of-use assets obtained from operating lease liabilities upon adoption of new lease standard (Refer to Note 2 - Leases) 147,000 0
Capital expenditures in accounts payable and accrued expenses $ 5,081 $ 1,814