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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash Flow from Operating Activities:    
Net income $ 50,483 $ 25,121
Net loss attributable to noncontrolling interests 61 60
Net income attributable to The GEO Group, Inc. 50,544 25,181
Adjustments to reconcile net income attributable to The GEO Group, Inc. to net cash provided by operating activities:    
Depreciation and amortization expense 34,117 33,327
Stock-based compensation 7,402 9,768
Gain on extinguishment of debt (3,038) (1,563)
Amortization of debt issuance costs, discount and/or premium and other non-cash interest 1,683 1,670
Provision for doubtful accounts 614 25
Equity in earnings of affiliates, net of tax (2,064) (2,260)
Dividends received from unconsolidated joint venture 1,399 633
Loss on sale/disposal of property and equipment, net 1,664 304
Gain on sales of real estate (13,329) (424)
Changes in assets and liabilities, net of effects of acquisitions:    
Changes in accounts receivable, prepaid expenses and other assets 26,846 53,210
Changes in contract receivable 1,611 1,206
Changes in accounts payable, accrued expenses and other liabilities 17,468 7,182
Net cash provided by operating activities 124,917 128,259
Cash Flow from Investing Activities:    
Insurance proceeds - damaged property 469 0
Proceeds from sale of property and equipment 39 264
Proceeds from sales of real estate 15,673 0
Proceeds from sale of assets held for sale 0 1,300
Change in restricted investments (2,191) 3,363
Capital expenditures (27,276) (30,652)
Net cash used in investing activities (13,286) (25,725)
Cash Flow from Financing Activities:    
Proceeds from long-term debt 240,000 96,000
Payments on long-term debt (298,522) (125,505)
Payments on non-recourse debt (1,755) (1,362)
Taxes paid related to net share settlements of equity awards (1,901) (2,632)
Proceeds from issuance of common stock in connection with ESPP 116 150
Payment for repurchases of common stock 0 (9,009)
Debt issuance costs (9,587) 0
Cash dividends paid (30,486) (57,703)
Net cash used in financing activities (102,135) (100,061)
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash and Cash Equivalents (657) (7,364)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash and Cash Equivalents 8,839 (4,891)
Cash, Cash Equivalents and Restricted Cash and Cash Equivalents, beginning of period 311,853 67,472
Cash, Cash Equivalents and Restricted Cash and Cash Equivalents, end of period 320,692 62,581
Non-cash Investing and Financing activities:    
Right-of-use assets obtained from operating lease liabilities 3,764 0
Equipment obtained from finance lease liabilities 794 0
Dividends paid in treasury shares 153 0
Conversion of pension liability to shares of common stock 0 8,925
Capital expenditures in accounts payable and accrued expenses $ 4,408 $ 3,304