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Business Segments and Geographic Information (Tables)
12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Schedule of Operating and Reporting Segments Segment disclosures below (in thousands) reflect the results of continuing operations. All transactions between segments are eliminated.

Fiscal Year

 

2020

 

 

2019

 

 

2018

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Secure Services

 

$

1,571,216

 

 

$

1,601,679

 

 

$

1,492,973

 

GEO Care

 

 

551,342

 

 

 

614,249

 

 

 

580,313

 

International Services

 

 

211,621

 

 

 

232,016

 

 

 

253,874

 

Facility Construction and Design [1] [2]

 

 

15,919

 

 

 

29,978

 

 

 

4,226

 

Total revenues

 

$

2,350,098

 

 

$

2,477,922

 

 

$

2,331,386

 

Capital Expenditures:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Secure Services

 

$

58,410

 

 

$

69,074

 

 

$

163,208

 

GEO Care

 

 

44,913

 

 

 

45,000

 

 

 

30,136

 

International Services

 

 

1,142

 

 

 

1,468

 

 

 

2,322

 

Total capital expenditures [1]

 

$

104,465

 

 

$

115,542

 

 

$

195,666

 

Depreciation and amortization:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Secure Services

 

$

80,702

 

 

$

78,974

 

 

$

76,801

 

GEO Care

 

 

51,832

 

 

 

49,781

 

 

 

47,546

 

International Services

 

 

2,146

 

 

 

2,070

 

 

 

2,087

 

Total depreciation and amortization [1]

 

$

134,680

 

 

$

130,825

 

 

$

126,434

 

Operating Income:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Secure Services

 

$

298,952

 

 

$

322,506

 

 

$

297,453

 

GEO Care

 

 

97,330

 

 

 

147,036

 

 

 

138,911

 

International Services

 

 

19,610

 

 

 

16,723

 

 

 

12,816

 

Facility Construction & Design [1] [2]

 

 

54

 

 

 

74

 

 

 

 

Operating income from segments

 

$

415,946

 

 

$

486,339

 

 

$

449,180

 

General and Administrative Expenses

 

 

(193,372

)

 

 

(185,926

)

 

 

(184,515

)

Total operating income

 

$

222,574

 

 

$

300,413

 

 

$

264,665

 

 

[1] There were no capital expenditures or depreciation and amortization associated with the Facility Construction & Design segment in 2020,   

2019 or 2018.

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

Schedule of 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, 2020, 2019 and 2018, respectively.

 

Fiscal Year Ended

 

2020

 

 

2019

 

 

2018

 

 

 

(In thousands)

 

Operating income from segments

 

$

415,946

 

 

$

486,339

 

 

$

449,180

 

Unallocated amounts:

 

 

 

 

 

 

 

 

 

 

 

 

General and administrative expense

 

 

(193,372

)

 

 

(185,926

)

 

 

(184,515

)

Net interest expense

 

 

(103,765

)

 

 

(122,090

)

 

 

(115,348

)

Gain (loss) on extinguishment of debt

 

 

5,319

 

 

 

(4,795

)

 

 

 

Income before income taxes and equity in earnings of affiliates

 

$

124,128

 

 

$

173,528

 

 

$

149,317

 

Geographical Information

 

 

2020

 

 

2019

 

 

2018

 

 

 

(In thousands)

 

 

 

 

 

Segment assets:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Secure Services

 

$

2,529,375

 

 

$

2,618,629

 

 

$

2,590,722

 

GEO Care

 

 

1,058,505

 

 

 

1,112,880

 

 

 

1,063,484

 

International Services

 

 

85,110

 

 

 

82,097

 

 

 

84,911

 

Facility Construction & Design

 

 

402,930

 

 

 

371,846

 

 

 

383,713

 

Total segment assets

 

$

4,075,920

 

 

$

4,185,452

 

 

$

4,122,830

 

 

Fiscal Year

 

2020

 

 

2019

 

 

2018

 

 

 

(In thousands)

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. operations

 

$

2,123,045

 

 

$

2,216,401

 

 

$

2,073,286

 

Australia operations

 

 

201,932

 

 

 

235,462

 

 

 

231,164

 

South African operations

 

 

17,044

 

 

 

18,779

 

 

 

19,806

 

United Kingdom operations

 

 

8,077

 

 

 

7,280

 

 

 

7,130

 

Total revenues

 

$

2,350,098

 

 

$

2,477,922

 

 

$

2,331,386

 

Property and Equipment, net:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. operations

 

$

2,109,070

 

 

$

2,131,877

 

 

$

2,145,197

 

Australia operations

 

 

12,908

 

 

 

12,215

 

 

 

13,006

 

South African operations

 

 

127

 

 

 

182

 

 

 

88

 

United Kingdom operations

 

 

90

 

 

 

448

 

 

 

319

 

Total Property and Equipment, net

 

$

2,122,195

 

 

$

2,144,722

 

 

$

2,158,610

 

 

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, 2020 and 2019, respectively.

 

 

 

2020

 

 

2019

 

 

 

(In thousands)

 

Reportable segment assets

 

$

4,075,920

 

 

$

4,185,452

 

Cash

 

 

283,524

 

 

 

32,463

 

Deferred income tax assets

 

 

36,604

 

 

 

36,278

 

Restricted cash and investments, current and non-current

 

 

64,078

 

 

 

63,341

 

Total assets

 

$

4,460,126

 

 

$

4,317,534

 

Sources of Revenue

Fiscal Year

 

2020

 

 

2019

 

 

2018

 

 

 

(In thousands)

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

Secure Services

 

$

1,782,837

 

 

$

1,833,695

 

 

$

1,746,847

 

GEO Care

 

 

551,342

 

 

 

614,249

 

 

 

580,313

 

Facility Construction and Design

 

 

15,919

 

 

 

29,978

 

 

 

4,226

 

Total revenues

 

$

2,350,098

 

 

$

2,477,922

 

 

$

2,331,386

 

 

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

 

2020

 

 

2019

 

 

2018

 

Various agencies of the U.S Federal Government:

 

 

56

%

 

 

53

%

 

 

50

%