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As Reported Financial Statements

    Financial Highlights
    Financial Information
    • Financial Highlights
    • As Reported Financials
    As Reported Financials
    Financial Information
    • Financial Highlights
    • As Reported Financials

    As Reported Financials

    • Balance Sheet
    • Income Statement
    • Cash Flow Statement
    • Balance Sheet
    • Income Statement
    • Cashflow Statement
    Document Name As Of Date Currency Code (in thousands) 2016 Y 10-K 12/31/2016 USD 2017 Y 10-K 12/31/2017 USD 2018 Y 10-K 12/31/2018 USD 2019 Y 10-Q 12/31/2019 USD 2020 Q2 YTD 10-Q 6/30/2020 USD
    Document Name As Of Date Currency Code 2016 Y 10-K 12/31/2017 USD 2017 Y 10-K 12/31/2018 USD 2018 Y 10-K 12/31/2019 USD 2019 Y 10-Q 6/30/2020 USD 2020 Q2 YTD 10-Q 6/30/2020 USD

    ASSETS

    Current Assets

    Cash and cash equivalents
    68,038
    81,377
    31,255
    32,463
    75,734
    Restricted cash and cash equivalents
    17,133
    44,932
    51,678
    32,418
    28,345
    Accounts receivable, less allowance for doubtful accounts
    356,255
    389,916
    445,526
    430,982
    361,030
    Contract receivable, current portion
    224,033
    18,142
    15,535
    11,199
    6,078
    Prepaid expenses and other current assets
    32,210
    45,342
    57,768
    40,716
    39,133
    Total current assets
    697,669
    579,709
    601,762
    547,778
    510,320
    Restricted Cash and Investments
    20,848
    27,999
    22,431
    30,923
    32,703
    Property and Equipment, Net
    1,897,241
    2,078,123
    2,158,610
    2,144,722
    2,130,126
    Assets Held for Sale
    0
    3,915
    2,634
    6,059
    4,526
    Contract Receivable
    219,783
    404,309
    368,178
    360,647
    355,964
    Operating Lease Right-of-Use Assets, Net NA NA
    0
    121,527
    123,401
    Deferred Income Tax Assets
    30,039
    26,277
    29,924
    36,278
    36,278
    Goodwill
    615,433
    778,951
    776,359
    776,356
    776,349
    Intangible Assets, Net
    203,884
    255,339
    232,360
    210,070
    198,826
    Other Non-Current Assets
    64,512
    72,286
    65,860
    83,174
    74,219
    Total Assets
    3,749,409
    4,226,908
    4,258,118
    4,317,534
    4,242,712

    LIABILITIES AND SHAREHOLDERS' EQUITY

    Current Liabilities

    Accounts payable
    79,637
    92,587
    93,032
    99,232
    86,155
    Accrued payroll and related taxes
    55,260
    71,732
    76,009
    54,672
    76,925
    Accrued expenses and other current liabilities
    131,096
    176,324
    204,170
    191,608
    186,272
    Operating lease liabilities, current portion NA NA
    0
    26,208
    26,992
    Current portion of finance lease liabilities, long-term debt and non-recourse debt
    238,065
    28,920
    332,027
    24,208
    24,577
    Total current liabilities
    504,058
    369,563
    705,238
    395,928
    400,921
    Deferred Income Tax Liabilities
    0
    8,757
    13,681
    19,254
    19,254
    Other Non-Current Liabilities
    88,656
    96,702
    82,481
    88,526
    104,601
    Operating Lease Liabilities NA NA
    0
    97,291
    99,264
    Finance Lease Liabilities
    7,431
    6,059
    4,570
    2,954
    2,608
    Long-Term Debt
    1,935,465
    2,181,544
    2,397,227
    2,408,297
    2,371,556
    Non-Recourse Debt
    238,842
    365,364
    15,017
    309,236
    300,213

    Shareholders' Equity

    Preferred stock
    0
    0
    0
    0
    0
    Common stock
    1,125
    1,240
    1,248
    1,254
    1,262
    Additional paid-in capital
    891,993
    1,190,906
    1,210,916
    1,230,865
    1,252,037
    Distributions in excess of earnings
    112,763
    31,541
    (52,868)
    (119,779)
    (174,038)
    Accumulated other comprehensive loss
    (30,825)
    (24,446)
    (23,618)
    (20,335)
    (29,554)
    Treasury stock NA
    0
    (95,175)
    (95,175)
    (104,457)
    Total shareholders' equity attributable to The GEO Group, Inc
    975,056
    1,199,241
    1,040,503
    996,830
    945,250
    Noncontrolling interests
    (99)
    (322)
    (599)
    (782)
    (955)
    Total shareholders' equity
    974,957
    1,198,919
    1,039,904
    996,048
    944,295
    Total Liabilities and Shareholders' Equity
    3,749,409
    4,226,908
    4,258,118
    4,317,534
    4,242,712
    Document Name As Of Date Currency Code (in thousands) 2016 Y 10-K 12/31/2016 USD 2017 Y 10-K 12/31/2017 USD 2018 Y 10-K 12/31/2018 USD 2019 Y 10-K 12/31/2019 USD 2020 Q2 YTD 10-Q 6/30/2020 USD
    Document Name As Of Date Currency Code 2016 Y 10-K 12/31/2018 USD 2017 Y 10-K 12/31/2019 USD 2018 Y 10-K 12/31/2019 USD 2019 Y 10-K 12/31/2019 USD 2020 Q2 YTD 10-Q 6/30/2020 USD
    Revenues
    2,179,490
    2,263,420
    2,331,386
    2,477,922
    1,192,846
    Operating expenses
    1,650,281
    1,700,495
    1,755,772
    1,860,758
    906,661
    Depreciation and amortization
    114,916
    124,297
    126,434
    130,825
    66,761
    General and administrative expenses
    148,709
    190,343
    184,515
    185,926
    99,325
    Operating income
    265,584
    248,285
    264,665
    300,413
    120,099
    Interest income
    28,496
    51,676
    34,755
    28,934
    10,686
    Interest expense
    (128,718)
    (148,024)
    (150,103)
    (151,024)
    (64,790)
    (Loss) gain on extinguishment of debt
    (15,885)
    0
    0
    (4,795)
    1,563
    Income before income taxes and equity in earnings of affiliates
    149,477
    151,937
    149,317
    173,528
    67,558
    Provision for income taxes
    7,904
    17,958
    14,117
    16,648
    10,742
    Equity in earnings of affiliates, net of income tax provision
    6,925
    12,045
    9,627
    9,532
    4,959
    Net income
    148,498
    146,024
    144,827
    166,412
    61,775
    Net loss attributable to noncontrolling interests
    217
    217
    262
    191
    126
    Net income attributable to The GEO Group, Inc.
    148,715
    146,241
    145,089
    166,603
    61,901

    Weighted-average common shares outstanding

    Basic
    111,065
    120,095
    120,241
    119,097
    119,602
    Diluted
    111,485
    120,814
    120,747
    119,311
    119,937

    Basic

    Net income per common share attributable to The GEO Group, Inc.- basic
    1.34
    1.22
    1.21
    1.40
    0.52

    Diluted

    Net income per common share attributable to The GEO Group, Inc.- diluted
    1.33
    1.21
    1.20
    1.40
    0.52
    Dividends declared per share
    1.73
    1.88
    1.88
    1.92
    0.96

    CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

    Net income
    148,498
    146,024
    144,827
    166,412
    61,775

    Other comprehensive income (loss), net of tax

    Foreign currency translation adjustments
    482
    3,808
    (7,118)
    2,267
    (4,804)
    Pension liability adjustment, net of tax provision
    (704)
    (1,420)
    1,785
    (3,247)
    213
    Change in fair value of derivative instrument classified as cash flow hedge, net of tax (benefit) provision
    1,820
    3,985
    6,146
    4,271
    (4,675)
    Total other comprehensive income (loss), net of tax
    1,598
    6,373
    813
    3,291
    (9,266)
    Total comprehensive income
    150,096
    152,397
    145,640
    169,703
    52,509
    Comprehensive loss attributable to noncontrolling interests
    198
    211
    277
    183
    173
    Comprehensive income attributable to The GEO Group, Inc.
    150,294
    152,608
    145,917
    169,886
    52,682
    Document Name As Of Date Currency Code (in thousands) 2016 Y 10-K 12/31/2016 USD 2017 Y 10-K 12/31/2017 USD 2018 Y 10-K 12/31/2018 USD 2019 Y 10-K 12/31/2019 USD 2020 Q1 YTD 10-Q 3/31/2020 USD
    Document Name As Of Date Currency Code 2016 Y 10-K 12/31/2018 USD 2017 Y 10-K 12/31/2019 USD 2018 Y 10-K 12/31/2019 USD 2019 Y 10-K 12/31/2019 USD 2020 Q1 YTD 10-Q 3/31/2020 USD

    Cash Flow from Operating Activities

    Net income
    148,498
    146,024
    144,827
    166,412
    25,121
    Net loss attributable to noncontrolling interests
    217
    217
    262
    191
    60
    Net income attributable to The GEO Group, Inc.
    148,715
    146,241
    145,089
    166,603
    25,181

    Adjustments to reconcile net income attributable to The GEO Group, Inc. to net cash provided by operating activities

    Depreciation and amortization expense
    114,916
    124,297
    126,434
    130,825
    33,327
    Deferred tax provision (benefit)
    (5,963)
    12,238
    1,230
    (588)
    NA
    Stock-based compensation
    12,773
    19,844
    22,049
    22,344
    9,768
    Gain on extinguishment of debt
    15,885
    0
    0
    4,795
    (1,563)
    Amortization of debt issuance costs, discount and/or premium and other non-cash interest
    12,121
    16,540
    8,856
    8,609
    1,670
    Provision for doubtful accounts
    2,682
    2,456
    823
    190
    25
    Equity in earnings of affiliates, net of tax
    (6,925)
    (12,045)
    (9,627)
    (9,532)
    (2,260)
    Income tax deficiency (benefit) related to equity compensation
    1,626
    NA NA NA NA
    Dividends received from unconsolidated joint venture
    1,611
    6,132
    11,846
    10,312
    633
    Loss on sale/disposal of property and equipment, net
    394
    1,520
    4,236
    5,576
    304
    Loss on assets held for sale NA
    0
    0
    1,083
    0

    Changes in assets and liabilities, net of effects of acquisitions

    Changes in accounts receivable, prepaid expenses and other assets
    (50,946)
    20,938
    (66,101)
    (8,391)
    53,210
    Changes in contract receivable
    (280,562)
    40,515
    (2,049)
    (4,355)
    1,206
    Changes in accounts payable, accrued expenses and other liabilities
    5,645
    2,366
    31,689
    10,672
    6,758
    Net cash provided by operating activities
    (28,028)
    381,042
    274,475
    338,143
    128,259

    Cash Flow from Investing Activities

    Insurance proceeds - damaged property
    4,733
    2,754
    1,438
    19,310
    0
    Acquisition of CEC, cash consideration, net of cash acquired
    0
    (353,556)
    0
    0
    NA
    Proceeds from sale of property and equipment
    2,030
    3,460
    2,077
    414
    264
    Proceeds from sale of assets held for sale
    0
    0
    3,797
    823
    1,300
    Change in restricted investments
    (2,892)
    (4,507)
    (129)
    (7,440)
    3,363
    Capital expenditures
    (81,565)
    (148,406)
    (195,666)
    (117,244)
    (30,652)
    Net cash used in investing activities
    (77,694)
    (500,255)
    (188,483)
    (104,137)
    (25,725)

    Cash Flow from Financing Activities

    Proceeds from long-term debt
    1,012,945
    1,389,084
    502,998
    521,370
    96,000
    Payments on long-term debt
    (934,006)
    (1,140,788)
    (282,358)
    (513,219)
    (125,505)
    Payments on non-recourse debt
    (10,064)
    (307,414)
    (18,544)
    (335,116)
    (1,362)
    Proceeds from non-recourse debt
    266,835
    181,658
    0
    321,102
    NA
    Taxes paid related to net share settlements of equity awards
    (2,336)
    (4,142)
    (3,820)
    (4,179)
    (2,632)
    Debt issuance costs
    (21,115)
    (9,542)
    (990)
    (9,856)
    NA
    Proceeds from issuance of common stock in connection with ESPP
    436
    497
    534
    532
    150
    Issuance of common stock in connection with public offering
    0
    275,867
    0
    0
    NA
    Payment for repurchases of common stock
    0
    0
    (95,175)
    0
    (9,009)
    Proceeds from the exercise of stock options
    3,347
    6,962
    1,887
    1,258
    0
    Income tax (deficiency) benefit related to equity compensation
    (1,626)
    NA NA NA NA
    Cash dividends paid
    (194,748)
    (227,463)
    (229,498)
    (232,546)
    (57,703)
    Net cash used in financing activities
    119,668
    164,719
    (124,966)
    (250,654)
    (100,061)
    Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash and Cash Equivalents
    1,119
    (2,318)
    (10,099)
    (352)
    (7,364)
    Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash and Cash Equivalents
    15,065
    43,188
    (49,073)
    (17,000)
    (4,891)
    Cash, Cash Equivalents and Restricted Cash and Cash Equivalents, beginning of period
    75,292
    90,357
    133,545
    84,472
    67,472
    Cash, Cash Equivalents and Restricted Cash and Cash Equivalents, end of period
    90,357
    133,545
    84,472
    67,472
    62,581

    Supplemental Disclosures

    Cash paid during the year for

    Income taxes
    23,063
    13,809
    8,035
    11,160
    NA
    Interest
    109,356
    115,354
    133,566
    135,579
    NA

    Non-cash Investing and Financing activities

    Right-of-use assets obtained from operating lease liabilities upon adoption of new lease standard NA
    0
    0
    147,000
    0
    Right-of-use assets obtained from operating lease liabilities (subsequent to initial adoption) NA
    0
    0
    12,223
    NA
    Conversion of pension liability to shares of common stock NA NA NA NA
    8,925
    Capital expenditures in accounts payable and accrued expenses
    894
    13,039
    15,253
    11,049
    3,304
    Data shown on this page is extracted directly from the company’s documents. S&P makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, S&P, as always, stands by its commitment to the quality of the data.
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