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Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table
PAY VERSUS PERFORMANCE
Pay Versus Performance Table
As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(v) of
Regulation S-K,
we are providing the following information about the relationship between executive compensation actually paid to our named executive officers and certain financial performance of the Company. For further information concerning the Company’s variable
pay-for-performance
philosophy and how the Company aligns executive compensation with the Company’s performance, refer to “Executive Compensation — Compensation Discussion & Analysis.”
 
                           
Value of Initial Fixed $100 Investment
Based On:
       
Year
 
Summary
Compensation
Table Total
for Mr. Gordo
(1)
 
Summary
Compensation
Table Total for
Dr. Zoley
(1)
 
Compensation
Actually Paid to
Mr. Gordo (2)
 
Compensation
Actually Paid
to Dr. Zoley
(2)
 
Average
Summary
Compensation
Total for
Non-PEO
Named
Executive
Officers
(“NEO’s)
(3)
 
Average
Compensation
Actually Paid to
Non-PEO
NEO’s
(4)
 
Total Shareholder
Return
(5)
 
Peer Group Total
Shareholder
Return
(6)
 
Net Income
Attributable
to GEO
(7)
 
Adjusted Net
Income
(8)
 
(a)
   
 
(a)
   
 
(b)
   
 
(b)
   
 
(c)
   
 
(d)
           
 
(in thousands)
2023
  $3,137,763     $       $4,116,553     $     $ 3,127,858       $3,142,068       $62       $118     $ 113,987       $117,471
2022
  4,531,272             7,028,722             3,206,216       5,585,202       56       99       171,813       171,196
2021
  1,601,207       11,270,248       1,652,434       10,844,304       1,825,765       1,905,353       41       137       77,418       159,203
2020
 
      2,041,894             (250,121 )       1,596,221       889,174       63       103       113,032       155,581
 
  (1)
The dollar amounts reflected in the columns labeled “(a)” are the amounts of total compensation reported for Mr. Gordo and Dr. Zoley for each corresponding year in the “Total” column of the applicable “Summary Compensation Table.”
 
  (2)
The dollar amounts reported in the columns labeled “(b)” represent the amount of “compensation actually paid” (as computed in accordance with Item 402(v) of Regulation
S-K
and referred to as “CAP”) to Mr. Gordo and Dr. Zoley. The dollar amounts do not reflect the actual amount of compensation earned by or paid to Mr. Gordo or Dr. Zoley during the applicable year. In accordance with the requirements of Item 402(v) of Regulation
S-K,
the following adjustments were made to Mr. Gordo’s and Dr. Zoley’s total compensation for each year to determine their respective CAP:
 
 
Summary of Equity Adjustments – PEO
Year
 
Principal
Executive
Officer
 
Year End Fair Value of
Outstanding and
Unvested Equity
Awards Granted During
the Year
 
Year over
Year Change
in Value of
Outstanding
and Unvested
Equity
Awards
Granted in
Prior Years
 
Fair Value as of
the Vesting
Date of Equity
Awards
Granted and
Vested in the
Year
 
Year over Year
Change in
Value of
Equity Awards
Granted in
Prior Years
that Vested in
the Year
 
Fair Value at
the End of the
Prior Year of
Equity
Awards that
Failed to Meet
Vesting
Conditions in
the Year
 
Total Equity
Award
Adjustments
2023
  Jose Gordo       $1,901,650     $ 187,205       $—     $ (8,936 )       $—     $ 2,079,920
2022
  Jose Gordo       3,720,000       346,909             (9,458 )             4,057,450
2021
  Jose Gordo       449,368       (4,912 )             (1,977 )             442,480
2021
  George C. Zoley       1,869,156       (166,125 )             (150,975 )             1,552,056
2020
  George C. Zoley       1,186,500       (1,048,965 )             22,950             160,485
 
  (3)
The dollar amounts reported in column (c) represent the average of the amounts reported for the Company’s named executive officers (“NEOs”) as a group (excluding any person who served as our principal executive officer, or “PEO”) in the “Total” column of the applicable “Summary
 
  Compensation Table.” The names of each of the
non-PEO
NEOs included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2023, George C. Zoley, Brian R. Evans, Wayne Calabrese and James Black; (ii) for 2022, George C. Zoley, Brian R. Evans, Ann M. Schlarb and James Black; (iii) for 2021, Brian R. Evans, Ann M. Schlarb, David Venturella and Joe Negron; and (iv) for 2020, Brian R. Evans, J. David Donahue, Ann M. Schlarb, Blake Davis, and David Venturella.
 
  (4)
The dollar amounts reported in column (d) represent the average CAP for the
non-PEO
NEOs as a group, as computed in accordance with Item 402(v) of Regulation
S-K.
The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the
non-PEO
NEOs as a group during the applicable year. In accordance with the requirements of Item 402(v) of Regulation
S-K,
the following adjustments were made to the average total compensation for the
non-PEO
NEOs as a group for each year to determine the average CAP for such group:
 
Summary Compensation Table Total to Compensation Actually Paid Reconciliation for
Non-PEO
NEO’s
 
Year
 
Reported Summary
Compensation
Table for
Non-PEO
NEO’s
   
Reported Value
of Equity Awards
   
Equity Award
Adjustments
   
Defined
Benefit Plan
Service Cost
Additions
    
Defined
Benefit Plan
Actuarial
Value
Deductions
    
Compensation
Actually Paid to
Non-PEO
NEO’s
 
2023     $3,127,858     $ (652,226     $1,088,787       $  35,157      $ (457,507      $3,142,068  
2022     3,206,216       (757,001     3,070,663       65,325               5,585,202  
2021     1,825,765       (656,695     705,983       112,964        (82,664      1,905,353  
2020     1,596,221       (534,420     (54,035     91,840        (210,432      889,174  
 
Summary of Equity Adjustments -
Non-PEO
NEO’s
 
Year
 
Year End Fair
Value of
Outstanding
and Unvested
Equity Awards
Granted During
the Year
   
Year over
Year Change
in Value of
Outstanding
and Unvested
Equity
Awards
Granted in
Prior Years
   
Fair
Value as
of the
Vesting
Date of
Equity
Awards
Granted
and
Vested
in the
Year
         
Year over
Year Change
in Value of
Equity
Awards
Granted in
Prior Years
that Vested in
the Year
    
Fair Value at
the End of
the Prior
Year of
Equity
Awards that
Failed to
Meet Vesting
Conditions in
the Year
  
Total Equity
Award
Adjustments
 
2023     $  982,295       $  482,566     $—      $ (376,074    $—      $1,088,787  
2022     1,684,263       1,507,130      —        (120,730     —      3,070,663  
2021     768,741       (36,338    —        (26,421     —      705,983  
2020     197,430       (252,868    —        1,404       —      (54,035
 
  (5)
Cumulative Total Shareholder Return (“TSR”) is calculated in accordance with the requirements of Item 402(v) of Regulation
S-K.
 
  (6)
Represents the weighted peer group TSR, weighted according to the respective companies’ stock market capitalization at the beginning of each period for which a return is indicated. Our peer group consisted of similarly sized equity REIT’s. In 2023 and 2022, due to the transition from REIT status in late 2021, the Compensation Committee continued to review compensation data from the REIT peer group while also referencing market data from a broad survey of general industry companies with revenues between $1 and $3 billion.
 
  (7)
The dollar amounts reported represent the amount of net income attributable to The GEO Group, Inc. reflected in the Company’s audited consolidated financial statements for the applicable year.
 
  (8)
Adjusted Net Income is calculated as net income/(loss) attributable to GEO adjusted for, if applicable in a given year, gain/loss on asset divestitures,
pre-tax,
gain/loss on extinguishment of debt, goodwill impairment charge,
pre-tax,
legal related expenses,
pre-tax,
pre-tax,
start-up
expenses,
pre-tax,
 
 
close-out
expenses,
pre-tax,
COVID-19
expenses,
pre-tax,
transaction related expenses,
pre-tax,
one-time
employee restructuring expenses,
pre-tax,
close-out
expenses,
pre-tax,
change in tax structure to C Corp, and the tax effect of adjustments to net income attributable to The GEO Group, Inc. Please refer to our current reports on Form
8-K
filed on February 22, 2024 and February 29, 2024 for additional information and a reconciliation of Adjusted Net Income to our results as reported under GAAP.
     
Company Selected Measure Name Adjusted Net Income      
Named Executive Officers, Footnote
  (3)
The dollar amounts reported in column (c) represent the average of the amounts reported for the Company’s named executive officers (“NEOs”) as a group (excluding any person who served as our principal executive officer, or “PEO”) in the “Total” column of the applicable “Summary
 
  Compensation Table.” The names of each of the
non-PEO
NEOs included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2023, George C. Zoley, Brian R. Evans, Wayne Calabrese and James Black; (ii) for 2022, George C. Zoley, Brian R. Evans, Ann M. Schlarb and James Black; (iii) for 2021, Brian R. Evans, Ann M. Schlarb, David Venturella and Joe Negron; and (iv) for 2020, Brian R. Evans, J. David Donahue, Ann M. Schlarb, Blake Davis, and David Venturella.
     
Peer Group Issuers, Footnote Represents the weighted peer group TSR, weighted according to the respective companies’ stock market capitalization at the beginning of each period for which a return is indicated. Our peer group consisted of similarly sized equity REIT’s. In 2023 and 2022, due to the transition from REIT status in late 2021, the Compensation Committee continued to review compensation data from the REIT peer group while also referencing market data from a broad survey of general industry companies with revenues between $1 and $3 billion.      
Adjustment To PEO Compensation, Footnote
  (1)
The dollar amounts reflected in the columns labeled “(a)” are the amounts of total compensation reported for Mr. Gordo and Dr. Zoley for each corresponding year in the “Total” column of the applicable “Summary Compensation Table.”
 
  (2)
The dollar amounts reported in the columns labeled “(b)” represent the amount of “compensation actually paid” (as computed in accordance with Item 402(v) of Regulation
S-K
and referred to as “CAP”) to Mr. Gordo and Dr. Zoley. The dollar amounts do not reflect the actual amount of compensation earned by or paid to Mr. Gordo or Dr. Zoley during the applicable year. In accordance with the requirements of Item 402(v) of Regulation
S-K,
the following adjustments were made to Mr. Gordo’s and Dr. Zoley’s total compensation for each year to determine their respective CAP:
 
 
Summary of Equity Adjustments – PEO
Year
 
Principal
Executive
Officer
 
Year End Fair Value of
Outstanding and
Unvested Equity
Awards Granted During
the Year
 
Year over
Year Change
in Value of
Outstanding
and Unvested
Equity
Awards
Granted in
Prior Years
 
Fair Value as of
the Vesting
Date of Equity
Awards
Granted and
Vested in the
Year
 
Year over Year
Change in
Value of
Equity Awards
Granted in
Prior Years
that Vested in
the Year
 
Fair Value at
the End of the
Prior Year of
Equity
Awards that
Failed to Meet
Vesting
Conditions in
the Year
 
Total Equity
Award
Adjustments
2023
  Jose Gordo       $1,901,650     $ 187,205       $—     $ (8,936 )       $—     $ 2,079,920
2022
  Jose Gordo       3,720,000       346,909             (9,458 )             4,057,450
2021
  Jose Gordo       449,368       (4,912 )             (1,977 )             442,480
2021
  George C. Zoley       1,869,156       (166,125 )             (150,975 )             1,552,056
2020
  George C. Zoley       1,186,500       (1,048,965 )             22,950             160,485
     
Non-PEO NEO Average Total Compensation Amount $ 3,127,858 $ 3,206,216 $ 1,825,765 $ 1,596,221
Non-PEO NEO Average Compensation Actually Paid Amount $ 3,142,068 5,585,202 1,905,353 889,174
Adjustment to Non-PEO NEO Compensation Footnote
  (3)
The dollar amounts reported in column (c) represent the average of the amounts reported for the Company’s named executive officers (“NEOs”) as a group (excluding any person who served as our principal executive officer, or “PEO”) in the “Total” column of the applicable “Summary
 
  Compensation Table.” The names of each of the
non-PEO
NEOs included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2023, George C. Zoley, Brian R. Evans, Wayne Calabrese and James Black; (ii) for 2022, George C. Zoley, Brian R. Evans, Ann M. Schlarb and James Black; (iii) for 2021, Brian R. Evans, Ann M. Schlarb, David Venturella and Joe Negron; and (iv) for 2020, Brian R. Evans, J. David Donahue, Ann M. Schlarb, Blake Davis, and David Venturella.
 
  (4)
The dollar amounts reported in column (d) represent the average CAP for the
non-PEO
NEOs as a group, as computed in accordance with Item 402(v) of Regulation
S-K.
The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the
non-PEO
NEOs as a group during the applicable year. In accordance with the requirements of Item 402(v) of Regulation
S-K,
the following adjustments were made to the average total compensation for the
non-PEO
NEOs as a group for each year to determine the average CAP for such group:
 
Summary Compensation Table Total to Compensation Actually Paid Reconciliation for
Non-PEO
NEO’s
 
Year
 
Reported Summary
Compensation
Table for
Non-PEO
NEO’s
   
Reported Value
of Equity Awards
   
Equity Award
Adjustments
   
Defined
Benefit Plan
Service Cost
Additions
    
Defined
Benefit Plan
Actuarial
Value
Deductions
    
Compensation
Actually Paid to
Non-PEO
NEO’s
 
2023     $3,127,858     $ (652,226     $1,088,787       $  35,157      $ (457,507      $3,142,068  
2022     3,206,216       (757,001     3,070,663       65,325               5,585,202  
2021     1,825,765       (656,695     705,983       112,964        (82,664      1,905,353  
2020     1,596,221       (534,420     (54,035     91,840        (210,432      889,174  
 
Summary of Equity Adjustments -
Non-PEO
NEO’s
 
Year
 
Year End Fair
Value of
Outstanding
and Unvested
Equity Awards
Granted During
the Year
   
Year over
Year Change
in Value of
Outstanding
and Unvested
Equity
Awards
Granted in
Prior Years
   
Fair
Value as
of the
Vesting
Date of
Equity
Awards
Granted
and
Vested
in the
Year
         
Year over
Year Change
in Value of
Equity
Awards
Granted in
Prior Years
that Vested in
the Year
    
Fair Value at
the End of
the Prior
Year of
Equity
Awards that
Failed to
Meet Vesting
Conditions in
the Year
  
Total Equity
Award
Adjustments
 
2023     $  982,295       $  482,566     $—      $ (376,074    $—      $1,088,787  
2022     1,684,263       1,507,130      —        (120,730     —      3,070,663  
2021     768,741       (36,338    —        (26,421     —      705,983  
2020     197,430       (252,868    —        1,404       —      (54,035
     
Compensation Actually Paid vs. Total Shareholder Return
CAP and Cumulative TSR
The following graph describes the relationship between (a) the CAP for our principal executive officers and the average CAP for our named executive officers other than our principal executive officers included in the applicable Summary Compensation Table and (b) our cumulative total shareholder return across our last four completed fiscal years.
 

     
Compensation Actually Paid vs. Net Income
CAP and Net Income
The following graph describes the relationship between (a) the CAP for our principal executive officers and the average CAP for our named executive officers other than our principal executive officers included in the applicable Summary Compensation Table and (b) our net income across our last four completed fiscal years.
 
LOGO
     
Compensation Actually Paid vs. Company Selected Measure
CAP and Adjusted Net Income
The following graph describes the relationship between (a) the CAP for our principal executive officers and the average CAP for our named executive officers other than our principal executive officers included in the applicable Summary Compensation Table and (b) our adjusted net income across our last four completed fiscal years.
 
LOGO
     
Total Shareholder Return Vs Peer Group
Cumulative TSR of the Company and Cumulative TSR of the Peer Group
The following graph describes the relationship between (a) our cumulative total shareholder return across our last four completed fiscal years and (b) the cumulative total shareholder return for our peer group across the same period.
 
LOGO
     
Tabular List, Table
Tabular List of Financial Performance Measures
As described in greater detail in “Executive Compensation – Compensation Discussion & Analysis,” the Compensation Committee’s fundamental philosophy is to closely link executive compensation with the achievement of performance goals tied to key metrics and to create an owner-oriented culture through our executive compensation programs. The objectives of our executive compensation program are to ensure that we are able to attract and retain highly skilled executives and to provide a
compensation
program that incentivizes management to optimize business performance, deploy capital productively, and increase long-term stockholder value. The most important financial performance measures used by the Compensation Committee for the most recently completed fiscal year to link compensation actually paid to our named executive officers to the Company’s performance are as follows:
 
 
 
Adjusted Net Income
 
 
 
Adjusted EBITDA
 
 
 
Return on Capital Employed
 
 
 
Revenue
     
Total Shareholder Return Amount $ 62 56 41 63
Peer Group Total Shareholder Return Amount 118 99 137 103
Net Income (Loss) $ 113,987,000 $ 171,813,000 $ 77,418,000 $ 113,032,000
Company Selected Measure Amount 117,471,000 171,196,000 159,203,000 155,581,000
Measure:: 1        
Pay vs Performance Disclosure        
Name Adjusted Net Income      
Measure:: 2        
Pay vs Performance Disclosure        
Name Adjusted EBITDA      
Measure:: 3        
Pay vs Performance Disclosure        
Name Return on Capital Employed      
Measure:: 4        
Pay vs Performance Disclosure        
Name Revenue      
Jose Gordo [Member]        
Pay vs Performance Disclosure        
PEO Total Compensation Amount $ 3,137,763 $ 4,531,272 $ 1,601,207  
PEO Actually Paid Compensation Amount $ 4,116,553 $ 7,028,722 $ 1,652,434  
PEO Name Jose Gordo Jose Gordo Jose Gordo  
George C. Zoley [Member]        
Pay vs Performance Disclosure        
PEO Total Compensation Amount     $ 11,270,248 $ 2,041,894
PEO Actually Paid Compensation Amount     $ 10,844,304 $ (250,121)
PEO Name     George C. Zoley George C. Zoley
PEO | Jose Gordo [Member] | Total Equity Awards Adjustments [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 2,079,920 $ 4,057,450 $ 442,480  
PEO | Jose Gordo [Member] | Equity Award Adjustments [Member]        
Pay vs Performance Disclosure        
Fair Value Of Outstanding And Unvested Equity Awards Granted During The Year 1,901,650 3,720,000 449,368  
Change in Value of Outstanding and Unvested Equity Awards Granted in Prior Years 187,205 346,909 (4,912)  
Change in Value of Equity Awards Granted in Prior Years that Vested in the Year (8,936) (9,458) (1,977)  
PEO | George C. Zoley [Member] | Total Equity Awards Adjustments [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount     1,552,056 $ 160,485
PEO | George C. Zoley [Member] | Equity Award Adjustments [Member]        
Pay vs Performance Disclosure        
Fair Value Of Outstanding And Unvested Equity Awards Granted During The Year     1,869,156 1,186,500
Change in Value of Outstanding and Unvested Equity Awards Granted in Prior Years     (166,125) (1,048,965)
Change in Value of Equity Awards Granted in Prior Years that Vested in the Year     (150,975) 22,950
Non-PEO NEO | Total Equity Awards Adjustments [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,088,787 3,070,663 705,983 (54,035)
Non-PEO NEO | Reported Value of Equity Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (652,226) (757,001) (656,695) (534,420)
Non-PEO NEO | Equity Award Adjustments [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,088,787 3,070,663 705,983 (54,035)
Fair Value Of Outstanding And Unvested Equity Awards Granted During The Year 982,295 1,684,263 768,741 197,430
Change in Value of Outstanding and Unvested Equity Awards Granted in Prior Years 482,566 1,507,130 (36,338) (252,868)
Change in Value of Equity Awards Granted in Prior Years that Vested in the Year (376,074) (120,730) (26,421) 1,404
Non-PEO NEO | Defined Benefit Plan Actuarial Value Deductions [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (457,507)   (82,664) (210,432)
Non-PEO NEO | Defined Benefit Plan Service Cost [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 35,157 $ 65,325 $ 112,964 $ 91,840