Business Segments and Geographic Information (Tables)

12 Months Ended

Dec. 31, 2019

Segment disclosures below (in thousands) reflect the results of continuing operations. All transactions between segments are eliminated.



Fiscal Year	2019			2018			2017
Revenues:
U.S. Secure Services	$	1,601,679		$	1,492,973		$	1,438,044
GEO Care	614,249			580,313			514,166
International Services	232,016			253,874			195,806
Facility Construction and Design [1] [2]	29,978			4,226			115,404
Total revenues	$	2,477,922		$	2,331,386		$	2,263,420
Capital Expenditures:
U.S. Secure Services	$	69,074		$	163,208		$	117,186
GEO Care	45,000			30,136			24,263
International Services	1,468			2,322			6,957
Total capital expenditures [1]	$	115,542		$	195,666		$	148,406
Depreciation and amortization:
U.S. Secure Services	$	78,974		$	76,801		$	75,276
GEO Care	49,781			47,546			47,103
International Services	2,070			2,087			1,918
Total depreciation and amortization [1]	$	130,825		$	126,434		$	124,297
Operating Income:
U.S. Secure Services	$	322,506		$	297,453		$	302,488
GEO Care	147,036			138,911			123,525
International Services	16,723			12,816			14,235
Facility Construction & Design [1] [2]	74			—			(1,620		)
Operating income from segments	$	486,339		$	449,180		$	438,628
General and Administrative Expenses	(185,926		)	(184,515		)	(190,343		)
Total operating income	$	300,413		$	264,665		$	248,285

[1] The Company began the design and construction of a secure facility located in Ravenhall, a locality near Melbourne, Australia in 2014. The facility was completed in November 2017. There were no capital expenditures or depreciation or amortization associated with this segment in 2019, 2018 or 2017. Refer to Note 7 - Contract Receivable.

[2] During 2019 and 2018, the Company had facility construction & design revenues related to an expansion project at its Fulham Correctional Centre in Australia which is expected to be completed in the third quarter of 2020.

Pre-Tax Income Reconciliation of Segments

The following is a reconciliation of the Company’s total operating income from its reportable segments to the Company’s income before income taxes and equity in earnings of affiliates, in each case, during the years ended December 31, 2019, 2018 and 2017, respectively.



Fiscal Year Ended	2019			2018			2017
	(In thousands)
Operating income from segments	$	486,339		$	449,180		$	438,628
Unallocated amounts:
General and administrative expense	(185,926		)	(184,515		)	(190,343		)
Net interest expense	(122,090		)	(115,348		)	(96,348		)
Loss on extinguishment of debt	(4,795		)	—			—
Income before income taxes and equity in earnings of affiliates	$	173,528		$	149,317		$	151,937

Geographical Information



	2019		2018		2017
	(In thousands)
Segment assets:
U.S. Secure Services	$	2,618,629	$	2,590,722	$	2,385,069
GEO Care	1,112,880		1,063,484		1,121,792
International Services	82,097		84,911		40,056
Facility Construction & Design	371,846		383,713		499,406
Total segment assets	$	4,185,452	$	4,122,830	$	4,046,323



Fiscal Year	2019		2018		2017
	(In thousands)
Revenues:
U.S. operations	$	2,216,401	$	2,073,286	$	1,952,210
Australia operations	235,462		231,164		285,702
South African operations	18,779		19,806		18,251
United Kingdom operations	7,280		7,130		7,257
Total revenues	$	2,477,922	$	2,331,386	$	2,263,420
Property and Equipment, net:
U.S. operations	$	2,131,877	$	2,145,197	$	2,061,711
Australia operations	12,215		13,006		16,281
South African operations	182		88		131
United Kingdom operations	448		319		—
Total Property and Equipment, net	$	2,144,722	$	2,158,610	$	2,078,123

Asset Reconciliation of Segments

The following is a reconciliation of the Company’s reportable segment assets to the Company’s total assets as of December 31, 2019 and 2018, respectively.



	2019		2018
	(In thousands)
Reportable segment assets	$	4,185,452	$	4,122,830
Cash	32,463		31,255
Deferred income tax assets	36,278		29,924
Restricted cash and investments, current and non-current	63,341		74,109
Total assets	$	4,317,534	$	4,258,118

Sources of Revenue



Fiscal Year	2019		2018		2017
	(In thousands)
Revenues:
Secure Services	$	1,833,695	$	1,746,847	$	1,633,850
GEO Care	614,249		580,313		514,166
Facility Construction and Design	29,978		4,226		115,404
Total revenues	$	2,477,922	$	2,331,386	$	2,263,420

Business Concentration

Except for the major customer noted in the following table, no other single customer made up greater than 10% of the Company’s consolidated revenues for the following fiscal years:



Customer	2019		2018		2017
Various agencies of the U.S Federal Government:	53	%	50	%	48	%