XML 59 R8.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash Flow from Operating Activities:      
Net Income $ 166,412 $ 144,827 $ 146,024
Net loss attributable to noncontrolling interests 191 262 217
Net income attributable to The GEO Group, Inc. 166,603 145,089 146,241
Adjustments to reconcile net income attributable to The GEO Group, Inc. to net cash provided by (used in) operating activities:      
Depreciation and amortization expense 130,825 126,434 124,297
Deferred tax provision (benefit) (588) 1,230 12,238
Amortization of debt issuance costs, discount and/or premium and other non-cash interest 8,609 8,856 16,540
Stock-based compensation 22,344 22,049 19,844
Loss on extinguishment of debt 4,795 0 0
Provision for doubtful accounts 190 823 2,456
Equity in earnings of affiliates, net of tax (9,532) (9,627) (12,045)
Loss on sale/disposal of property and equipment 5,576 4,236 1,520
Loss on assets held for sale 1,083 0 0
Dividends received from unconsolidated joint ventures 10,312 11,846 6,132
Changes in assets and liabilities, net of acquisition:      
Changes in accounts receivable, prepaid expenses and other assets (8,391) (66,101) 20,938
Changes in contract receivable (4,355) (2,049) 40,515
Changes in accounts payable, accrued expenses and other liabilities 10,672 31,689 2,366
Net cash provided by operating activities 338,143 274,475 381,042
Cash Flow from Investing Activities:      
Acquisition of CEC, cash consideration, net of cash acquired 0 0 (353,556)
Proceeds from sale of property and equipment 414 2,077 3,460
Insurance proceeds - damaged property 19,310 1,438 2,754
Proceeds from sale of assets held for sale 823 3,797 0
Change in restricted cash and investments (7,440) (129) (4,507)
Capital expenditures (117,244) (195,666) (148,406)
Net cash used in investing activities (104,137) (188,483) (500,255)
Cash Flow from Financing Activities:      
Payments on long-term debt (513,219) (282,358) (1,140,788)
Proceeds from long term debt 521,370 502,998 1,389,084
Payments on non-recourse debt (335,116) (18,544) (307,414)
Proceeds from non-recourse debt 321,102 0 181,658
Taxes paid related to net share settlements of equity awards (4,179) (3,820) (4,142)
Debt issuance costs (9,856) (990) (9,542)
Payments for purchase of treasury shares 0 (95,175) 0
Proceeds from stock options exercised 1,258 1,887 6,962
Proceeds from issuance of common stock in connection with ESPP 532 534 497
Issuance of common stock in connection with public offering 0 0 275,867
Dividends paid (232,546) (229,498) (227,463)
Net cash (used in) provided by financing activities (250,654) (124,966) 164,719
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash and Cash Equivalents (352) (10,099) (2,318)
Net (Decrease) Increase in Cash, Cash Equivalents and Restricted Cash and Cash Equivalents (17,000) (49,073) 43,188
Cash, Cash Equivalents and Restricted Cash and Cash Equivalents, beginning of period 84,472 133,545 90,357
Cash, Cash Equivalents and Restricted Cash and Cash Equivalents, end of period 67,472 84,472 133,545
Cash paid during the year for:      
Income taxes 11,160 8,035 13,809
Interest 135,579 133,566 115,354
Non-cash investing and financing activities:      
Right-of-use assets obtained from operating lease liabilities upon adoption of new lease standard - Refer to 14 - Leases 147,000    
Right-of-use assets obtained from operating lease liabilities (subsequent to initial adoption) 12,223    
Capital expenditures in accounts payable and accrued expenses $ 11,049 $ 15,253 $ 13,039