0001564590-22-018274 | 10-Q | XBRL Viewer

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Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2022	May 03, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Entity Registrant Name	The GEO Group, Inc.
Entity Central Index Key	0000923796
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		124,096,099
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity File Number	1-14260
Entity Incorporation, State or Country Code	FL
Entity Tax Identification Number	65-0043078
Entity Address, Address Line One	4955 Technology Way
Entity Address, City or Town	Boca Raton
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33431
City Area Code	561
Local Phone Number	893-0101
Document Quarterly Report	true
Document Transition Report	false
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	GEO
Security Exchange Name	NYSE

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Revenues	$ 551,185	$ 576,377
Operating expenses	385,161	428,151
Depreciation and amortization	35,938	34,117
General and administrative expenses	48,560	48,479
Operating income	81,526	65,630
Interest income	5,628	6,202
Interest expense	(31,621)	(31,844)
Gain on extinguishment of debt		3,038
Gain (loss) on dispositions of real estate	(627)	13,329
Income before income taxes and equity in earnings of affiliates	54,906	56,355
Provision for income taxes	17,962	7,936
Equity in earnings of affiliates, net of income tax provision of $112 and $340 respectively	1,235	2,064
Net income	38,179	50,483
Net loss attributable to noncontrolling interests	40	61
Net income attributable to The GEO Group, Inc.	$ 38,219	$ 50,544
Weighted-average common shares outstanding:
Basic	120,714	120,022
Diluted	121,394	120,417
Basic:
Net income per common share attributable to The GEO Group, Inc. - basic	$ 0.26	$ 0.41
Diluted:
Net income per common share attributable to The GEO Group, Inc. - diluted	$ 0.26	0.41
Dividends declared per share		$ 0.25

Consolidated Statements of Operations (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Income tax provision on equity in earnings of affiliates	$ 112	$ 340

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 38,179	$ 50,483
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	425	(627)
Change in marketable securities, net of tax benefit of $107 and $0	(405)
Pension liability adjustment, net of tax provision of $23 and $41, respectively	85	156
Change in fair value of derivative instrument classified as cash flow hedge, net of tax provision of $655 and $784, respectively	2,464	2,948
Total other comprehensive income, net of tax	2,569	2,477
Total comprehensive income	40,748	52,960
Comprehensive loss attributable to noncontrolling interests	55	63
Comprehensive income attributable to The GEO Group, Inc.	$ 40,803	$ 53,023

Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement Of Income And Comprehensive Income [Abstract]
Tax provision on marketable securities	$ 107	$ 0
Tax provision on pension liability adjustment	23	41
Tax provision on loss on derivative instrument classified as a cash flow hedge	$ 655	$ 784

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current Assets
Cash and cash equivalents	$ 598,508	$ 506,491
Restricted cash and cash equivalents	23,795	20,161
Accounts receivable, less allowance for doubtful accounts of $1,216 and $1,155, respectively	358,648	365,573
Contract receivable, current portion	6,866	6,507
Prepaid expenses and other current assets	34,998	45,176
Total current assets	1,022,815	943,908
Restricted Cash and Investments	84,886	76,158
Property and Equipment, Net	2,017,322	2,037,845
Assets Held for Sale	14,488	7,877
Contract Receivable	376,775	367,071
Operating Lease Right-of-Use Assets, Net	105,617	112,187
Goodwill	755,238	755,225
Intangible Assets, Net	158,695	166,124
Other Non-Current Assets	73,048	71,013
Total Assets	4,608,884	4,537,408
Current Liabilities
Accounts payable	80,313	64,073
Accrued payroll and related taxes	87,699	67,210
Accrued expenses and other current liabilities	193,704	200,712
Operating lease liabilities, current portion	28,038	28,279
Current portion of finance lease liabilities, long-term debt and non-recourse debt	18,617	18,568
Total current liabilities	408,371	378,842
Deferred Income Tax Liabilities	80,768	80,768
Other Non-Current Liabilities	82,500	87,073
Operating Lease Liabilities	83,408	89,917
Finance Lease Liabilities	1,805	1,977
Long-Term Debt	2,626,473	2,625,959
Non-Recourse Debt	304,724	297,856
Commitments, Contingencies and Other Matters (Note 11)
Shareholders’ Equity
Preferred stock, $0.01 par value, 30,000,000 shares authorized, none issued or outstanding	0	0
Common stock, $0.01 par value, 187,500,000 shares authorized, 128,863,377 and 127,323,762 issued and 124,011,005 and 122,471,390 outstanding, respectively	1,289	1,273
Additional paid-in capital	1,281,268	1,276,213
Distributions in excess of earnings	(137,741)	(175,960)
Accumulated other comprehensive loss	(17,632)	(20,216)
Treasury stock, 4,852,372 shares, at cost	(105,099)	(105,099)
Total shareholders’ equity attributable to The GEO Group, Inc.	1,022,085	976,211
Noncontrolling interests	(1,250)	(1,195)
Total shareholders’ equity	1,020,835	975,016
Total Liabilities and Shareholders’ Equity	$ 4,608,884	$ 4,537,408

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts	$ 1,216	$ 1,155
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	30,000,000	30,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	187,500,000	187,500,000
Common stock, shares issued (in shares)	128,863,377	127,323,762
Common stock, shares outstanding (in shares)	124,011,005	122,471,390
Treasury stock, shares (in shares)	4,852,372	4,852,372

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash Flow from Operating Activities:
Net income	$ 38,179	$ 50,483
Net loss attributable to noncontrolling interests	40	61
Net income attributable to The GEO Group, Inc.	38,219	50,544
Adjustments to reconcile net income attributable to The GEO Group, Inc. to net cash provided by operating activities:
Depreciation and amortization expense	35,938	34,117
Stock-based compensation	6,313	7,402
Gain on extinguishment of debt		(3,038)
Amortization of debt issuance costs, discount and/or premium and other non-cash interest	1,848	1,683
Provision for doubtful accounts		614
Equity in earnings of affiliates, net of tax	(1,235)	(2,064)
Dividends received from unconsolidated joint ventures	1,781	1,399
Loss on sale/disposal of property and equipment, net	38	1,664
(Gain) loss on disposition of real estate	627	(13,329)
Changes in assets and liabilities, net of effects of acquisitions:
Changes in accounts receivable, prepaid expenses and other assets	22,448	26,846
Changes in contract receivable	1,644	1,611
Changes in accounts payable, accrued expenses and other liabilities	14,335	17,468
Net cash provided by operating activities	121,956	124,917
Cash Flow from Investing Activities:
Insurance proceeds - damaged property		469
Proceeds from sale of property and equipment	41	39
Proceeds from sales of real estate		15,673
Change in restricted investments	(4,109)	(2,191)
Capital expenditures	(13,773)	(27,276)
Net cash used in investing activities	(17,841)	(13,286)
Cash Flow from Financing Activities:
Proceeds from long-term debt		240,000
Payments on long-term debt	(2,881)	(298,522)
Payments on non-recourse debt	(2,328)	(1,755)
Taxes paid related to net share settlements of equity awards	(1,285)	(1,901)
Proceeds from issuance of common stock in connection with ESPP	43	116
Debt issuance costs		(9,587)
Cash dividends paid		(30,486)
Net cash used in financing activities	(6,451)	(102,135)
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash and Cash Equivalents	2,606	(657)
Net Increase in Cash, Cash Equivalents and Restricted Cash and Cash Equivalents	100,270	8,839
Cash, Cash Equivalents and Restricted Cash and Cash Equivalents, beginning of period	548,322	311,853
Cash, Cash Equivalents and Restricted Cash and Cash Equivalents, end of period	648,592	320,692
Non-cash Investing and Financing activities:
Right-of-use assets obtained from operating lease liabilities	200	3,764
Equipment obtained from finance lease liabilities		794
Dividends paid in treasury shares		153
Capital expenditures in accounts payable and accrued expenses	$ 1,260	$ 4,408

Basis of Presentation

3 Months Ended

Mar. 31, 2022

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Basis of Presentation

1. BASIS OF PRESENTATION

The GEO Group, Inc., a Florida corporation, and subsidiaries (the “Company” or “GEO”) specializes in the ownership, leasing and management of secure facilities, processing centers and reentry centers in the United States, Australia and South Africa. The Company owns, leases and operates a broad range of facilities including maximum, medium and minimum security facilities, processing centers, as well as community-based reentry facilities and offers an expanded delivery of rehabilitation services under its 'GEO Continuum of Care' platform. The 'GEO Continuum of Care' program integrates enhanced rehabilitative programs, which are evidence-based and include cognitive behavioral treatment and post-release services, and provides academic and vocational classes in life skills and treatment programs while helping individuals reintegrate into their communities. The Company develops new facilities based on contract awards, using its project development expertise and experience to design, construct and finance what it believes are state-of-the-art facilities that maximize security and efficiency. The Company provides innovative compliance technologies, industry-leading monitoring services, and evidence-based supervision and treatment programs for community-based parolees, probationers and pretrial defendants. The Company also provides secure transportation services for individuals as contracted domestically and in the United Kingdom through its joint venture GEO Amey PECS Ltd. (“GEOAmey”). At March 31, 2022, the Company’s worldwide operations include the management and/or ownership of approximately 83,000 beds at 103 facilities, including idle facilities, projects under development and recently awarded contracts, and also include the provision of community supervision services for more than 300,000 individuals on average, including over 100,000 through an array of technology products including radio frequency, GPS, and alcohol monitoring devices.

GEO operated as a real estate investment trust ("REIT") from January 1, 2013 through December 31, 2020. As a REIT, the Company provided services and conducted other business activities through taxable REIT subsidiaries ("TRSs"). A TRS is a subsidiary of a REIT that is subject to applicable corporate income tax rates and certain qualification requirements. The Company's use of TRSs permitted GEO to engage in certain business activities in which the REIT could not engage directly, so long as those activities were conducted in entities that elected to be treated as TRSs under the Internal Revenue Code of 1986, as amended (the “Code”), and enabled GEO to, among other things, provide correctional services at facilities it owns and at facilities owned by its government partners. A TRS is not subject to the distribution requirements applicable to REITs so it may retain income generated by its operations for reinvestment.

On December 2, 2021, the Company announced that its board of directors (“Board”) unanimously approved a plan to terminate the Company's REIT status and become a taxable C Corporation, effective for the year ended December 31, 2021. As a result, the Company is no longer required to operate under REIT rules, including the requirement to distribute at least 90% of REIT taxable income to its stockholders, which provides the Company with greater flexibility to use its free cash flow. Effective January 1, 2021, the Company was subject to federal and state income taxes on its taxable income at applicable tax rates and was no longer entitled to a tax deduction for dividends paid. The Company operated as a REIT for the 2020 tax year, and existing REIT requirements and limitations, including those established by the Company’s organizational documents, remained in place until December 31, 2020. In connection with terminating the Company’s REIT status, the Board also voted unanimously to discontinue the Company's quarterly dividend in late 2021.

The Company's unaudited consolidated financial statements included in this Quarterly Report on Form 10-Q have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and the instructions to Form 10-Q and consequently do not include all disclosures required by Form 10-K. The accounting policies followed for quarterly financial reporting are the same as those disclosed in the Notes to Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 28, 2022 for the year ended December 31, 2021. The accompanying December 31, 2021 consolidated balance sheet has been derived from those audited financial statements. Additional information may be obtained by referring to the Company’s Form 10-K for the year ended December 31, 2021. In the opinion of management, all adjustments (consisting only of normal recurring items) necessary for a fair presentation of the financial information for the interim periods reported in this Quarterly Report on Form 10-Q have been made. Results of operations for the three months ended March 31, 2022 are not necessarily indicative of the results for the entire year ending December 31, 2022, or for any other future interim or annual periods.

Risks and uncertainties

Executive Order

On January 26, 2021, President Biden signed an executive order directing the United States Attorney General not to renew Department of Justice (“DOJ”) contracts with privately operated criminal detention facilities, as consistent with applicable law. Two agencies of the DOJ, the Federal Bureau of Prisons (“BOP”) and the U.S. Marshals Service (“USMS”), utilize GEO’s support services. The BOP houses inmates who have been convicted of federal crimes, and the USMS is generally responsible for detainees who are awaiting trial or sentencing in U.S. federal courts. As of March 31, 2022, GEO has one company-owned facility under direct contract with the BOP, which has a current contract option period that expires on September 30, 2022, and three company-owned/company-leased facilities under direct contracts with USMS, which have current contract option periods that expire between June 30, 2022 and September 30, 2023.

COVID-19

In December 2019, a novel strain of coronavirus, now known as COVID-19 (“COVID-19”), was reported in Wuhan, China and has since extensively impacted the global health and economic environment. In January 2020, the World Health Organization (“WHO”) declared it a Public Health Emergency of International Concern. On February 28, 2020, the WHO raised its assessment of the COVID-19 threat from high to very high at a global level due to the continued increase in the number of cases and affected countries, and on March 11, 2020, the WHO characterized COVID-19 as a pandemic.

The Company has been closely monitoring the impact of the COVID-19 pandemic on all aspects of its business and geographies, including how it will impact those entrusted to its care and governmental partners. The Company has incurred disruptions from the COVID-19 pandemic but, it is unable to predict the overall future impact that the COVID-19 pandemic will have on its financial condition, results of operations and cash flows due to numerous uncertainties related to the pandemic. The COVID-19 pandemic and related government-imposed mandatory closures, the efficacy and distribution of COVID-19 vaccines and boosters, the evolution of COVID-19 variants, shelter in-place restrictions, labor shortages and social distancing protocols and increased expenditures on engineering controls, personal protective equipment, diagnostic testing, medical expenses, temperature scanners, protective plexiglass barriers and increased sanitation have had, and will continue to have, a severe impact on global economic conditions and the environment in which the Company operates. Additionally, the Company has experienced the transmission of COVID-19 among detainees and staff at most of its facilities. If the Company is unable to mitigate the transmission of COVID-19 at its facilities it could experience a material adverse effect on its financial position, results of operations and cash flows. Although the Company is unable to predict the duration or scope of the COVID-19 pandemic or estimate the extent of the negative financial impact to its operating results, an extended period of depressed economic activity necessitated to combating the disease, and the severity and duration of the related global economic crisis may adversely impact its future financial performance.

Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2022

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

2. GOODWILL AND OTHER INTANGIBLE ASSETS

The Company has recorded goodwill as a result of its various business combinations. Goodwill is recorded as the difference, if any, between the aggregate consideration paid for an acquisition and the fair value of the tangible assets and intangible assets acquired net of liabilities assumed, including noncontrolling interests. Changes in the Company's goodwill balances from January 1, 2022 to March 31, 2022 are as follows (in thousands):

	January 1, 2022		Foreign Currency Translation		March 31, 2022
U.S. Secure Services	$	316,366	$	—	$	316,366
Electronic Monitoring and Supervision Services	$	289,570	$	—		289,570
Reentry Services		148,873		—		148,873
International Services		416		13		429
Total Goodwill	$	755,225	$	13	$	755,238

The Company has also recorded other finite and indefinite-lived intangible assets as a result of its various business combinations. The Company's intangible assets include facility management contracts, covenants not to compete, trade names and technology, as follows (in thousands):

	March 31, 2022									December 31, 2021
	Weighted Average Useful Life (years)		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Facility management contracts		16.3	$	308,397	$	(196,317	)	$	112,080	$	308,369	$	(189,163	)	$	119,206
Technology		7.3		33,700		(32,285	)		1,415		33,700		(31,982	)		1,718
Trade names	Indefinite			45,200		—			45,200		45,200		—			45,200
Total acquired intangible assets			$	387,297	$	(228,602	)	$	158,695	$	387,269	$	(221,145	)	$	166,124

Amortization expense was $7.5 million and $5.3 million for the three months ended March 31, 2022 and 2021, respectively. Amortization expense was primarily related to the U.S. Secure Services, Electronic Monitoring and Supervision Services and Reentry Services segments' amortization of acquired facility management contracts. As of March 31, 2022, the weighted average period before the next contract renewal or extension for the acquired facility management contracts was approximately 2.8 years.

Estimated amortization expense related to the Company's finite-lived intangible assets for the remainder of 2022 through 2026 and thereafter is as follows (in thousands):

Fiscal Year	Total Amortization Expense
Remainder of 2022	$	10,977
2023		11,813
2024		9,314
2025		9,263
2026		7,170
Thereafter		64,958
	$	113,495

Financial Instruments

3 Months Ended

Mar. 31, 2022

Financial Instruments Financial Assets Balance Sheet Groupings [Abstract]

Financial Instruments

3. FINANCIAL INSTRUMENTS

The following tables provide a summary of the Company’s significant financial assets and liabilities carried at fair value and measured on a recurring basis as of March 31, 2022 and December 31, 2021 (in thousands):

			Fair Value Measurements at March 31, 2022
	Carrying Value at March 31, 2022		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Restricted investments:
Rabbi Trust	$	40,752	$	—	$	40,752	$	—
Marketable equity and fixed income securities		17,845		—		17,845		—
Liabilities:
Interest rate swap derivatives	$	76	$	—	$	76	$	—

			Fair Value Measurements at December 31, 2021
	Carrying Value at December 31, 2021		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Restricted investments:
Rabbi Trust	$	42,937	$	—	$	42,937	$	—
Marketable equity and fixed income securities		11,551	$	—		11,551		—
Fixed income securities		1,927		—		1,927		—
Liabilities:
Interest rate swap derivatives	$	3,195	$	—	$	3,195	$	—

The Company’s Level 2 financial instruments included in the tables above as of March 31, 2022 and December 31, 2021 consist of interest rate swap derivative liabilities held by GEO, investments in equity and fixed income mutual funds held in the Company’s captive insurance subsidiary, Florina, the Company's rabbi trust established for a GEO employee and employer contributions to The GEO Group, Inc. Non-qualified Deferred Compensation Plan and an investment in Canadian dollar denominated fixed income securities.

The interest rate swap derivative liabilities are valued using a discounted cash flow model based on projected borrowing rates. The Company's restricted investment in the rabbi trust is invested in Company-owned life insurance policies which are recorded at their cash surrender values. These investments are valued based on the underlying investments held in the policies' separate accounts. The underlying assets are equity and fixed income pooled funds that are comprised of Level 1 and Level 2 securities. The Canadian dollar denominated securities, which are not actively traded, are valued using quoted rates for these and similar securities. The Company no longer has an investment in Canadian dollar denominated securities as of March 31, 2022.

Fair Value of Assets and Liabilities

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value of Assets and Liabilities

4. FAIR VALUE OF ASSETS AND LIABILITIES

The Company’s consolidated balance sheets reflect certain financial assets and liabilities at carrying value. The carrying value of certain debt instruments, if applicable, is net of unamortized discount. The following tables present the carrying values of those financial instruments and the estimated corresponding fair values at March 31, 2022 and December 31, 2021 (in thousands):

			Estimated Fair Value Measurements at March 31, 2022
	Carrying Value as of March 31, 2022		Total Fair Value		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	598,508	$	598,508	$	598,508	$	—	$	—
Restricted cash and investments		50,084		50,084		50,084		—		—
Liabilities:
Borrowings under senior credit facility	$	1,546,466	$	1,437,949	$	—	$	1,437,949	$	—
5.125% Senior Notes due 2023		259,275		244,807		—		244,807		—
5.875% Senior Notes due 2024		225,293		192,589		—		192,589		—
6.00% Senior Notes due 2026		350,000		272,556		—		272,556		—
6.50% Exchangeable Senior Notes due 2026		230,000		235,273		—		235,273		—
Non-recourse debt		317,464		317,464		—		317,464		—

			Estimated Fair Value Measurements at December 31, 2021
	Carrying Value as of December 31, 2021		Total Fair Value		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	506,491	$	506,491	$	506,491	$	—	$	—
Restricted cash and investments		41,831		41,831		41,831		—		—
Liabilities:
Borrowings under senior credit facility	$	1,546,895	$	1,448,280	$	—	$	1,448,280	$	—
5.125% Senior Notes due 2023		259,275		248,479		—		248,479		—
5.875% Senior Notes due 2024		225,293		199,522		—		199,522		—
6.00% Senior Notes due 2026		350,000		283,691		—		283,691		—
6.50% Exchangeable Senior Notes due 2026		230,000		248,211				248,211
Non-recourse debt		310,108		310,108		—		310,108		—

The fair values of the Company’s cash and cash equivalents, and restricted cash and investments approximates the carrying values of these assets at March 31, 2022 and December 31, 2021. Restricted cash consists of money market funds and bank deposits used for asset replacement funds and other funds contractually required to be maintained at the Company's Australian subsidiary. The fair value of the money market funds and bank deposits is based on quoted market prices (Level 1).

The fair values of the Company's 5.875% senior unsecured notes due 2024 ("5.875% Senior Notes due 2024"), 6.00% senior unsecured notes due 2026 (“6.00% Senior Notes due 2026”), the 5.125% senior unsecured notes due 2023 ("5.125% Senior Notes due 2023") and the 6.50% exchangeable senior unsecured notes due 2026 (“Convertible Notes” or “6.50% Exchangeable Notes due 2026”) are based on published financial data for these instruments. On February 24, 2021, the Company completed a private offering of $230 million aggregate principal amount of 6.50% exchangeable senior unsecured notes due 2026. The Company used the net proceeds from this offering to fund the redemption of the then outstanding amount of the Company’s 5.875% Senior Notes due 2022. Refer to Note 10 – Debt for further information. The fair value of the Company's non-recourse debt related to the Company’s Australian subsidiary is estimated based on market prices of similar instruments. The fair value of borrowings under the senior credit facility is based on an estimate of trading value considering the Company’s borrowing rate, the undrawn spread and similar instruments.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Restricted Cash and Cash Equivalents

3 Months Ended

Mar. 31, 2022

Cash And Cash Equivalents [Abstract]

Restricted Cash and Cash Equivalents

5. RESTRICTED CASH AND CASH EQUIVALENTS

The following table provides a reconciliation of cash, cash equivalents and restricted cash and cash equivalents reported on the consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statements of cash flows:

	March 31, 2022			March 31, 2021
Cash and cash equivalents	$	598,508		$	289,391
Restricted cash and cash equivalents - current		23,795			29,317
Restricted cash and investments - non-current		84,886			39,924
Less Restricted investments - non-current		(58,597	)		(37,940	)
Total cash, cash equivalents and restricted cash and cash equivalents shown in the statement of cash flows	$	648,592		$	320,692

Amounts included in restricted cash and cash equivalents are attributable to certain contractual cash restriction requirements at the Company's wholly owned Australian subsidiary related to non-recourse debt and asset replacement funds contractually required to be maintained and other guarantees. Restricted investments - non-current (included in Restricted Cash and Investments in the accompanying consolidated balance sheets) consists of the Company's rabbi trust established for an employee and employer contributions to The GEO Group, Inc. Non-qualified Deferred Compensation Plan, investments in equity and fixed income mutual funds held in the Company’s captive insurance subsidiary, Florina and certain contractual cash requirements at the Company’s wholly-owned Australian subsidiary related to certain performance guarantees at its Ravenhall facility. The rabbi trust and the investments held in Florina are not considered to be restricted cash equivalents. Refer to Note 3 - Financial Instruments.

Shareholders' Equity

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

Shareholders' Equity

6. SHAREHOLDERS’ EQUITY

The following tables present the changes in shareholders’ equity that are attributable to the Company’s shareholders and to noncontrolling interests for the three months ended March 31, 2022 and 2021 (in thousands):

	Common shares						Additional Paid-In			Distributions in Excess of			Accumulated Other Comprehensive			Treasury shares					Noncontrolling			Total Shareholders'
	Shares			Amount			Capital			Earnings			Loss			Shares		Amount			Interests			Equity
For the Three Months Ended March 31, 2022
Balance, January 1, 2022		122,472		$	1,273		$	1,276,213		$	(175,960	)	$	(20,216	)		4,852	$	(105,099	)	$	(1,195	)	$	975,016
Stock-based compensation expense		—			—			6,313			—			—			—		—			—			6,313
Restricted stock granted		1,784			18			(18	)		—			—			—		—			—			—
Restricted stock canceled		(26	)		—			—			—			—			—		—			—			—
Shares withheld for net settlements of share- based awards [1]		(226	)		(2	)		(1,283	)		—			—			—		—			—			(1,285	)
Issuance of common stock - ESPP		7			—			43			—			—			—		—			—			43
Net income (loss)		—			—			—			38,219			—			—		—			(40	)		38,179
Other comprehensive income (loss)		—			—			—			—			2,584			—		—			(15	)		2,569
Balance, March 31, 2022		124,011		$	1,289		$	1,281,268		$	(137,741	)	$	(17,632	)		4,852	$	(105,099	)	$	(1,250	)	$	1,020,835

	Common shares						Additional Paid-In			Distributions in Excess of			Accumulated Other Comprehensive			Treasury shares					Noncontrolling			Total Shareholders'
	Shares			Amount			Capital			Earnings			Loss			Shares		Amount			Interests			Equity
For the Three Months Ended March 31 2021
Balance, January 1, 2021		121,318		$	1,262		$	1,262,267		$	(222,892	)	$	(22,589	)		4,835	$	(104,946	)	$	(1,020	)	$	912,082
Stock-based compensation expense		—			—			7,402			—			—			—		—			—			7,402
Restricted stock granted		1,248			12			(12	)		—			—			—		—			—			-
Restricted stock canceled		(18	)		—			—			—			—			—		—			—			-
Dividends paid		—			—			—			(30,486	)		—			—		—			—			(30,486	)
Other adjustment to paid-in capital								153									—								153
Purchase of treasury shares		(17	)		—			—			—			—			17		(153	)					(153	)
Shares withheld for net settlements of share- based awards [1]		(243	)		(2	)		(1,899	)		—			—			—		—			—			(1,901	)
Issuance of common stock - ESPP		15			—			116			—			—			—		—			—			116
Net income (loss)		—			—			—			50,544			—			—		—			(61	)		50,483
Other comprehensive income (loss)		—			—			—			—			2,479			—		—			(2	)		2,477
Balance, March 31, 2021		122,303		$	1,272		$	1,268,027		$	(202,834	)	$	(20,110	)		4,852	$	(105,099	)	$	(1,083	)	$	940,173

[1]	During the three months ended March 31, 2022 and 2021, the Company withheld shares through net share settlements to satisfy statutory tax withholding requirements upon vesting of shares of restricted stock held by employees.

Automatic Shelf Registration on Form S-3

On October 30, 2020, the Company filed an automatic shelf registration on Form S-3 with the Securities and Exchange Commission (the “SEC”) that enables the Company to offer for sale, from time to time and as the capital markets permit, an unspecified amount of common stock, preferred stock, debt securities, guarantees of debt securities, warrants and units. The shelf registration statement became automatically effective upon filing and is valid for three years.

Prospectus Supplement

On June 28, 2021, in connection with the shelf registration, the Company filed with the SEC a prospectus supplement related to the offer and sale from time to time of the Company’s common stock at an aggregate offering price of up to $300 million through sales agents. Sales of shares of the Company’s common stock under the prospectus supplement and equity distribution agreements entered into with the sales agents, if any, will be made in negotiated transactions or transactions that are deemed to be “at the market” offerings as defined in Rule 415 under the Securities Act of 1933. There were no shares of common stock sold under this prospectus supplement during the three months ended March 31, 2022 or the year ended December 31, 2021.

Comprehensive Income (Loss)

Comprehensive income (loss) represents the change in shareholders' equity from transactions and other events and circumstances arising from non-shareholder sources. The Company's total comprehensive income (loss) is comprised of net income attributable to GEO, net income attributable to noncontrolling interests, foreign currency translation adjustments that arise from consolidating foreign operations that do not impact cash flows, net unrealized gains and/or losses on derivative instruments, and pension liability adjustments within shareholders' equity and comprehensive income (loss).

The components of accumulated other comprehensive income (loss) attributable to GEO within shareholders' equity are as follows:

	Three Months Ended March 31, 2022
	(In thousands)
	Foreign currency translation adjustments, net of tax (1)			Change in fair value of derivatives, net of tax			Change in marketable securities, net of tax			Pension adjustments, net of tax			Total
Balance, January 1, 2022	$	(12,461	)	$	(2,524	)	7			$	(5,238	)	$	(20,216	)
Current-period other comprehensive income (loss)		440			2,464			(405	)		85			2,584
Balance, March 31, 2022	$	(12,021	)	$	(60	)	$	(398	)	$	(5,153	)	$	(17,632	)

	Three Months Ended March 31, 2021
	(In thousands)
	Foreign currency translation adjustments, net of tax (1)			Change in fair value of derivatives, net of tax			Pension adjustments, net of tax			Total
Balance, January 1, 2021	$	(9,207	)	$	(4,752	)	$	(8,630	)	$	(22,589	)
Current-period other comprehensive income (loss)		(626	)		2,949			156			2,479
Balance, March 31, 2021	$	(9,833	)	$	(1,803	)	$	(8,474	)	$	(20,110	)

(1)

The foreign currency translation related to noncontrolling interests was not significant at March 31, 2022 or 2021.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Paragraph 18
-Subparagraph (d)
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI http://asc.fasb.org/topic&trid=2208762

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Equity Incentive Plans

3 Months Ended

Mar. 31, 2022

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Equity Incentive Plans

7. EQUITY INCENTIVE PLANS

The Board adopted The GEO Group, Inc. Amended and Restated 2018 Stock Incentive Plan (the "2018 Amended and Restated Plan"), which was approved by the Company's shareholders on April 28, 2021. The 2018 Amended and Restated Plan supersedes the previous 2018 Stock Incentive Plan. As of the date the 2018 Amended and Restated Plan was approved by the Company’s shareholders, it provided for a reserve of an additional 16,800,000 shares of common stock that may be issued pursuant to awards granted under the 2018 Amended and Restated Plan. The Company filed a Form S-8 registration statement related to the 2018 Amended and Restated Plan on June 15, 2021.

Stock Options

The Company uses a Black-Scholes option valuation model to estimate the fair value of each time-based or performance-based option awarded. For options granted during the three months ended March 31, 2022, the fair value was estimated using the following assumptions: (i) volatility of 48.03%; (ii) expected term of 5 years; and (iii) risk free interest rate of 1.56%. A summary of the activity of stock option awards issued and outstanding under Company plans was as follows for the three months ended March 31, 2022:

	Shares			Wtd. Avg. Exercise Price		Wtd. Avg. Remaining Contractual Term (years)		Aggregate Intrinsic Value
	(in thousands)							(in thousands)
Options outstanding at January 1, 2022		1,847		$	19.92		6.23	$	73
Options granted		340			5.76
Options exercised		—			—
Options forfeited/canceled/expired		(83	)		17.99
Options outstanding at March 31, 2022		2,104		$	17.74		6.65	$	286
Options vested and expected to vest at March 31, 2022		1,996		$	18.25		6.51	$	238
Options exercisable at March 31, 2022		1,329		$	22.67		5.27	$	—

On March 1, 2022, the Company granted approximately 340,000 options to certain employees which had a per share grant date fair value of $2.49. For the three months ended March 31, 2022 and 2021, the amount of stock-based compensation expense related to stock options was $0.1 million and $0.2 million, respectively. As of March 31, 2022, the Company had $1.4 million of unrecognized compensation costs related to non-vested stock option awards that are expected to be recognized over a weighted average period of 3.1 years.

Restricted Stock

Compensation expense for nonvested stock awards is recorded over the vesting period based on the fair value at the date of grant. Generally, the restricted stock awards vest in equal increments generally over either a three or four-year period. The fair value of restricted stock awards, which do not contain a market-based vesting condition, is determined using the closing price of the Company's common stock on the date of grant. The Company has historically issued share-based awards with service-based, performance-based and market-based vesting criteria.

A summary of the activity of restricted stock outstanding is as follows for the three months ended March 31, 2022:

	Shares			Wtd. Avg. Grant Date Fair Value
	(in thousands)
Restricted stock outstanding at January 1, 2022		2,619		$	12.53
Granted		1,784			6.02
Vested		(735	)		17.01
Forfeited/canceled		(26	)		10.30
Restricted stock outstanding at March 31, 2022		3,642		$	8.26

During the three months ended March 31, 2022, the Company granted approximately 1,784,000 shares of restricted stock to certain employees and executive officers. Of these awards, 975,000 are market and performance-based awards which will be forfeited if the Company does not achieve certain annual metrics during 2022, 2023 and 2024.

The vesting of these performance-based restricted stock grants are subject to the achievement by GEO of two annual performance metrics as follows: (i) up to 50% of the shares of restricted stock ("TSR Target Award") can vest at the end of a three year performance period if GEO meets certain total shareholder return ("TSR") performance targets, as compared to the total shareholder return of a peer group of companies, over a three year period from January 1, 2022 to December 31, 2024 and (ii) up to 50% of the shares of restricted stock ("ROCE Target Award") can vest at the end of a three year period if GEO meets certain return on capital employed ("ROCE") performance targets over a three year period from January 1, 2022 to December 31, 2024. Certain of these performance-based restricted stock grants can vest over a one-year period if GEO meets certain performance targets, as mentioned above, over two remaining one-year periods from January 1, 2022 to December 31, 2022 and January 1, 2023 to December 31, 2023. These market and performance awards can vest at between 0% and 200% of the target awards for both metrics. The number of shares shown for the performance-based awards is based on the target awards for both metrics.

The metric related to ROCE is considered to be a performance condition. For share-based awards that contain a performance condition, the achievement of the targets must be probable before any share-based compensation expense is recorded. The Company reviews the likelihood of which target in the range will be achieved and if deemed probable, compensation expense is recorded at that time. If subsequent to initial measurement there is a change in the estimate of the probability of meeting the performance condition, the effect of the change in the estimated quantity of awards expected to vest is recognized by cumulatively adjusting compensation expense. If ultimately the performance targets are not met, for any awards where vesting was previously deemed probable, previously recognized compensation expense will be reversed in the period in which vesting is no longer deemed probable. The fair value of these awards was determined based on the closing price of the Company's common stock on the date of grant.

The metric related to TSR is considered to be a market condition. For share-based awards that contain a market condition, the probability of satisfying the market condition must be considered in the estimate of grant-date fair value and previously recorded compensation expense is not reversed if the market condition is never met. The fair value of these awards was determined based on a Monte Carlo simulation, which calculates a range of possible outcomes and the probabilities that they will occur, using the following weighted average key assumptions: (i) volatility of 57.5%; (ii) beta of 0.93; and (iii) risk free rate of 1.45%.

For the three months ended March 31, 2022 and 2021, the Company recognized $6.2 million and $7.2 million, respectively, of compensation expense related to its restricted stock awards. As of March 31, 2022, the Company had $23.2 million of unrecognized compensation costs related to non-vested restricted stock awards, including non-vested restricted stock awards with performance-based and market-based vesting, that are expected to be recognized over a weighted average period of 2.2 years.

Employee Stock Purchase Plan

The Company previously adopted The GEO Group Inc. 2011 Employee Stock Purchase Plan (the “Plan” or "ESPP”) effective July 9, 2011. The Company has since amended and restated the Plan (the “Amended ESPP”) which was approved by the Company’s

shareholders on April 28, 2021 and became effective on July 9, 2021. The purpose of the Amended ESPP, which is qualified under Section 423 of the Code, is to encourage stock ownership through payroll deductions by the employees of GEO and designated subsidiaries of GEO in order to increase their identification with the Company’s goals and secure a proprietary interest in the Company’s success. These deductions are used to purchase shares of the Company’s common stock at a 5% discount from the then current market price. The maximum number of shares of common stock reserved for issuance over the term of the Amended ESPP on the amended effective date shall not exceed 750,000 shares.

The Amended ESPP is considered to be non-compensatory. As such, there is no compensation expense required to be recognized. Share purchases under the Amended ESPP are made on the last day of each month. During the three months ended March 31, 2022, 7,210 shares of the Company's common stock were issued in connection with the Amended ESPP.

Earnings Per Share

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

Earnings Per Share

8. EARNINGS PER SHARE

Basic earnings per share of common stock is computed by dividing the net income attributable to The GEO Group, Inc. available to common stockholders by the weighted-average number of common shares outstanding for the period. Net income attributable to The GEO Group, Inc. available to common stockholders represents net income attributable to The GEO Group, Inc. reduced by an allocation of earnings to participating securities. The 6.50% Exchangeable Notes due 2026, which contain non-forfeitable rights to dividends declared and paid on the shares of common stock, are participating securities and are included in the computation of earnings per share pursuant to the two-class method. Diluted EPS is calculated under the if-converted method and the two-class method for each class of shareholders using the weighted average number of shares attributable to each class. The calculation that results in the lowest diluted earnings per share amount for common stock is reported in the Company’s financial statements. The if-converted method includes the dilutive effect of potential common shares related to the 6.50% Exchangeable Notes due 2026, if any. Basic and diluted earnings per share were calculated for the three months ended March 31, 2022 and 2021 as follows (in thousands, except per share data):

	Three Months Ended
	March 31, 2022			March 31, 2021
Net income	$	38,179		$	50,483
Net loss attributable to noncontrolling interests		40			61
Less: Undistributed income allocable to participating securities		(6,542	)		(1,420	)
Net income attributable to The GEO Group, Inc. available to common stockholders		31,677			49,124
Basic earnings per share attributable to The GEO Group, Inc. available to common stockholders:
Weighted average shares outstanding		120,714			120,022
Per share amount - basic	$	0.26		$	0.41
Diluted earnings per share attributable to The GEO Group, Inc. available to common stockholders:
Weighted average shares outstanding		120,714			120,022
Dilutive effect of equity incentive plans		680			395
Weighted average shares assuming dilution		121,394			120,417
Per share amount - diluted	$	0.26		$	0.41

For the three months ended March 31, 2022, 1,906,029 weighted average shares of common stock underlying options were excluded from the computation of diluted earnings per share ("EPS") because the effect would be anti-dilutive. There were 875,148 common stock equivalents from restricted shares that were anti-dilutive for the period.

For the three months ended March 31, 2021, 2,067,461 weighted average shares of common stock underlying options were excluded from the computation of diluted EPS because the effect would be anti-dilutive. There were 1,021,859 common stock equivalents from restricted shares that were anti-dilutive for the period.

On February 24, 2021, the Company’s wholly owned subsidiary, GEO Corrections Holdings, Inc. (“GEOCH”), completed a private offering of $230 million aggregate principal amount of 6.50% Exchangeable Notes due 2026. Refer to Note 10 – Debt for additional information. As of March 31, 2022, conditions had not been met to exchange the 6.50% Exchangeable Notes due 2026 into shares of the Company’s common stock. Approximately 24.9 million and 9.1 million shares of potential common shares associated with the conversion option embedded in the convertible notes were excluded from the computation for the three months ended March 31, 2022 and 2021, respectively, as the Company’s average stock price during the period was lower than the exchange price.

Derivative Financial Instruments

3 Months Ended

Mar. 31, 2022

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

9. DERIVATIVE FINANCIAL INSTRUMENTS

The Company’s primary objective in holding derivatives is to reduce the volatility of earnings and cash flows associated with changes in interest rates. The Company measures its derivative financial instruments at fair value.

In August 2019, the Company entered into two interest rate swap agreements in the aggregate notional amount of $44.3 million to fix the interest rate on certain of its variable rate debt to 4.22%. The Company has designated these interest rate swaps as hedges against changes in the cash flows of two identical promissory notes (the "Notes") which are secured by loan agreements and mortgage and security agreements on certain real property and improvements. The Company has determined that the swaps have payment, expiration dates, and provisions that coincide with the terms of the Notes and are therefore considered to be effective cash flow hedges. Accordingly, the Company records the change in fair value of the interest rate swaps as accumulated other comprehensive income, net of applicable taxes. Total unrealized gains recorded in other comprehensive income, net of tax, related to these cash flow hedges was $2.5 million during the three months ended March 31, 2022. The total fair value of the swap liabilities as of March 31, 2022 was $0.1 million and is recorded as a component of Other Non-Current liabilities within the accompanying consolidated balance sheet. There was no material ineffectiveness for the period presented. The Company does not expect to enter into any transactions during the next twelve months which would result in reclassification into earnings or losses associated with these swaps currently reported in accumulated other comprehensive income (loss). Refer to Note 10 - Debt for additional information.

Debt

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Debt

10. DEBT

Debt outstanding as of March 31, 2022 and December 31, 2021 consisted of the following (in thousands):

	March 31, 2022			December 31, 2021
Senior Credit Facility:
Term loan	$	760,000		$	762,000
Unamortized discount on term loan		(1,020	)		(1,152	)
Unamortized debt issuance costs on term loan		(2,419	)		(2,733	)
Revolver		786,466			784,895
Total Senior Credit Facility		1,543,027			1,543,010
6.50% Exchangeable Notes Due in 2026:
Notes Due in 2026		230,000			230,000
Unamortized debt issuance costs		(7,823	)		(8,246	)
Total 6.50% Exchangeable Notes Due in 2026		222,177			221,754
6.00% Senior Notes due 2026:
Notes Due in 2026		350,000			350,000
Unamortized debt issuance costs		(2,943	)		(3,099	)
Total 6.00% Senior Notes Due in 2026		347,057			346,901
5.875% Senior Notes due 2024:
Notes Due in 2024		225,293			225,293
Unamortized debt issuance costs		(1,295	)		(1,410	)
Total 5.875% Senior Notes Due in 2024		223,998			223,883
5.125% Senior Notes due 2023:
Notes Due in 2023		259,275			259,275
Unamortized debt issuance costs		(1,056	)		(1,221	)
Total 5.125% Senior Notes Due in 2023		258,219			258,054
Non-Recourse Debt		317,464			310,108
Unamortized debt issuance costs on non-recourse debt		(4,665	)		(4,556	)
Total Non-Recourse Debt		312,799			305,552
Finance Lease Liabilities		3,216			3,843
Other debt, net		41,126			41,363
Total debt		2,951,619			2,944,360
Current portion of finance lease liabilities, long-term debt and non-recourse debt		(18,617	)		(18,568	)
Finance Lease Liabilities, long-term portion		(1,805	)		(1,977	)
Non-Recourse Debt, long-term portion		(304,724	)		(297,856	)
Long-Term Debt	$	2,626,473		$	2,625,959

Amended Credit Agreement

On June 12, 2019, GEO entered into Amendment No. 2 to Third Amended and Restated Credit Agreement (the "Credit Agreement") by and among the refinancing lenders party thereto, the other lenders party thereto, GEO and GEO Corrections Holdings, Inc. and the administrative agent. Under the amendment, the maturity date of the revolver component of the Credit Agreement was extended to May 17, 2024. The borrowing capacity under the amended revolver remains at $900.0 million, and its pricing remains unchanged currently bearing interest at LIBOR plus 2.25%.

The Credit Agreement evidences a credit facility (the "Credit Facility") consisting of a $792.0 million term loan bearing interest at LIBOR plus 2.00% (with a LIBOR floor of 0.75%), and a $900.0 million revolver initially bearing interest at LIBOR plus 2.25% (with no LIBOR floor) together with AUD275 million, or $206.0 million, based on exchange rates as of March 31, 2022, available solely for the issuance of financial letters of credit and performance letters of credit, in each case denominated in Australian Dollars under the Australian Dollar Letter of Credit Facility (the "Australian LC Facility"). As of March 31, 2022, there were no letters of credit issued under the Australian LC Facility. Amounts to be borrowed by GEO under the Credit Agreement are subject to the satisfaction of customary conditions to borrowing. The term loan component is scheduled to mature on March 23, 2024. The revolving credit commitment component is scheduled to mature on May 17, 2024. The Credit Agreement also has an accordion feature of $450.0 million, subject to lender demand and prevailing market conditions and satisfying the relevant borrowing conditions.

The Credit Agreement contains certain customary representations and warranties, and certain customary covenants that restrict GEO’s ability to, among other things (i) create, incur or assume any indebtedness, (ii) create, incur, assume or permit liens, (iii) make loans and investments, (iv) engage in mergers, acquisitions and asset sales, (v) make certain restricted payments, (vi) issue, sell or otherwise dispose of capital stock, (vii) engage in transactions with affiliates, (viii) allow the total leverage ratio to exceed 6.25 to 1.00, allow the senior secured leverage ratio to exceed 3.50 to 1.00, or allow the interest coverage ratio to be less than 3.00 to 1.00, (ix) cancel, forgive, make any voluntary or optional payment or prepayment on, or redeem or acquire for value any senior notes, except as permitted, (x) alter the business GEO conducts, and (xi) materially impair GEO’s lenders’ security interests in the collateral for its loans.

Events of default under the Credit Agreement include, but are not limited to, (i) GEO’s failure to pay principal or interest when due, (ii) GEO’s material breach of any representation or warranty, (iii) covenant defaults, (iv) liquidation, reorganization or other relief relating to bankruptcy or insolvency, (v) cross default under certain other material indebtedness, (vi) unsatisfied final judgments over a specified threshold, (vii) certain material environmental liability claims asserted against GEO, and (viii) a change in control.

All of the obligations under the Credit Agreement are unconditionally guaranteed by certain domestic subsidiaries of GEO and the Credit Agreement and the related guarantees are secured by a perfected first-priority pledge of substantially all of GEO’s present and future tangible and intangible domestic assets and all present and future tangible and intangible domestic assets of each guarantor, including but not limited to a first-priority pledge of all of the outstanding capital stock owned by GEO and each guarantor in their domestic subsidiaries.

GEO Australasia Holdings Pty Ltd, GEO Australasia Finance Holdings Pty Ltd as trustee for the GEO Australasia Finance Holding Trust, and together with GEO Australasia Holdings, collectively (the “Australian Borrowers") are wholly owned foreign subsidiaries of GEO. GEO has designated each of the Australian Borrowers as restricted subsidiaries under the Credit Agreement. However, the Australian Borrowers are not obligated to pay or perform any obligations under the Credit Agreement other than their own obligations as Australian Borrowers under the Credit Agreement. The Australian Borrowers do not pledge any of their assets to secure any obligations under the Credit Agreement.

On August 18, 2016, the Company executed a letter of offer providing for a bank guarantee line and bank guarantee/standby sub-facility in an aggregate amount of approximately AUD59 million, or $44.2 million, based on exchange rates in effect as of March 31, 2022 (collectively, the “Bank Guarantee Facility”). The Bank Guarantee Facility allows GEO to provide letters of credit to assure performance of certain obligations of its wholly owned subsidiary relating to its correctional facility in Ravenhall, located near Melbourne, Australia. The Bank Guarantee Facility is unsecured. The issuance of letters of credit under the Bank Guarantee Facility is subject to the satisfaction of the conditions precedent specified in the letter of offer. Letters of credit issued under the bank guarantee lines are due on demand and letters of credit issued under the bank guarantee/standby sub-facility cannot have a duration exceeding twelve months. The Bank Guarantee Facility may be terminated by the lender on 90 days written notice. As of March 31, 2022, there was AUD59 million in letters of credit issued under the Bank Guarantee Facility.

As of March 31, 2022, the Company had approximately $760.0 million in aggregate borrowings outstanding under its term loan, approximately $786.5 million in borrowings under its revolver, and approximately $96.8 million in letters of credit which left approximately $16.7 million in additional borrowing capacity under the Revolver. The weighted average interest rate on outstanding borrowings under the Credit Agreement as of March 31, 2022 was 2.70%.

6.50% Exchangeable Notes due 2026

On February 24, 2021, the Company’s wholly-owned subsidiary, GEOCH, completed a private offering of $230 million aggregate principal amount of 6.50% Exchangeable Notes due 2026 which included the full exercise of the initial purchasers’ over-allotment option to purchase an additional $30 million aggregate principal amount of Convertible Notes. The Convertible Notes will mature on February 23, 2026, unless earlier repurchased or exchanged. The Convertible Notes bear interest at the rate of 6.50% per year plus an additional amount based on the dividends paid by the Company on its common stock, $0.01 par value per share. Interest on the notes is payable semi-annually in arrears on March 1 and September 1 of each year, beginning on September 1, 2021.

Subject to certain restrictions on share ownership and transfer, holders may exchange the notes at their option prior to the close of business on the business day immediately preceding November 25, 2025, but only under the following circumstances: (1) during the five consecutive business day period after any five consecutive trading day period, or the measurement period, in which the trading price per $1,000 principal amount of notes for each trading day of such measurement period was less than 98% of the product of the last reported sale price of the Company’s common stock and the exchange rate for the notes on each such trading day; or (2) upon the occurrence of certain specified corporate events. On or after November 25, 2025, until the close of business on the second scheduled trading day immediately preceding the maturity date of the notes, holders may exchange their notes at any time, regardless of the foregoing circumstances. Upon exchange of a note, GEO will pay or deliver, as the case may be, cash or a combination of cash and shares of the Company’s common stock. As of March 31, 2022, conditions had not been met to exchange the notes.

Upon conversion, the Company will pay or deliver, as the case may be, cash or a combination of cash and shares of common stock. The initial conversion rate is 108.4011 shares of common stock per $1,000 principal amount of Convertible Notes (equivalent to an initial conversion price of approximately $9.225 per share of common stock). The conversion rate will be subject to adjustment in certain events. If the Company or GEOCH undergoes a fundamental change, holders may require GEOCH to purchase the notes in whole or in part for cash at a fundamental change purchase price equal to 100% of the principal amount of the notes to be purchased, plus accrued and unpaid interest, if any, to, but excluding, the fundamental change purchase date.

The Company used the net proceeds from this offering, including the exercise in full of the initial purchasers' over-allotment option to fund the redemption of the then outstanding amount of approximately $194.0 million of the Company’s 5.875% Senior Notes due 2022, to re-purchase additional senior notes and used remaining net proceeds to pay related transaction fees and expenses, and for general corporate purposes of the Company. As a result of the redemption, deferred loan costs in the amount of approximately $0.7 million were written off to loss on extinguishment of debt during the three months ended March 31, 2021.

The notes were offered in the United States only to persons reasonably believed to be “qualified institutional buyers” pursuant to Rule 144A under the Securities Act, and outside of the United States to non-U.S. persons in compliance with Regulation S under the Securities Act. Neither the notes nor any of the shares of the Company’s common stock issuable upon exchange of the notes, if any, have been, or will be, registered under the Securities Act and, unless so registered, may not be offered or sold in the United States, except pursuant to an applicable exemption from the registration requirements under the Securities Act.

The Company elected to early adopt Accounting Standards Update (“ASU”) 2020-06, Debt – Debt with Conversion and Other Options and Derivatives and Hedging – Contracts in Entity’s Own Equity, on January 1, 2021. The new standard simplifies the accounting for convertible debt by removing the requirements to separately present certain conversion features in equity. In addition, the new standard also simplifies the guidance in ASC 815-40, Derivatives and Hedging – Contract in Entity’s Own Equity, by removing certain criteria that must be satisfied to classify a contract as equity. Finally, the new standard revises the guidance on calculating earnings per share. The Company determined under the guidance of the new standard that the embedded conversion option does not require bifurcation and all proceeds were allocated to the Convertible Notes as a single instrument and is included in Long-Term Debt in the accompanying consolidated balance sheets. The costs incurred in the issuance, including the initial purchasers discount, totaling approximately $9.6 million, are classified as a cash outflow within the financing activities section in the consolidated statement of cash flows for the three months ended March 31, 2021, and are also being amortized to expense over the term of the Convertible Notes.

Because the Company currently intends to settle conversions by paying cash up to the principal amount of the Convertible Notes, with any excess conversion value settled in shares of common stock, the Convertible Notes are being accounted for using the net settlement method (or treasury stock-type method) for the purposes of calculating diluted earnings per share. Using this method, the denominator will be affected when the average share price of the Company's common stock for a given period is greater than the conversion price of approximately $9.225 per share. There was no dilutive impact for the three months ended March 31, 2022 and 2021.

6.00% Senior Notes due 2026

Interest on the 6.00% Senior Notes due 2026 accrues at the stated rate. The Company pays interest semi-annually in arrears on April 15 and October 15 of each year. On or after April 15, 2019, the Company may, at its option, redeem all or part of the 6.00% Senior Notes due 2026 at the redemption prices set forth in the indenture governing the 6.00% Senior Notes due 2026. The indenture contains certain covenants, including limitations and restrictions on the Company and its subsidiary guarantors.

5.875% Senior Notes due 2024

Interest on the 5.875% Senior Notes due 2024 accrues at the stated rate. The Company pays interest semi-annually in arrears on April 15 and October 15 of each year. On or after October 15, 2019, the Company may, at its option, redeem all or part of the 5.875% Senior Notes due 2024 at the redemption prices set forth in the indenture governing the 5.875% Senior Notes due 2024. The indenture contains certain covenants, including limitations and restrictions on the Company and its subsidiary guarantors.

5.125% Senior Notes due 2023

Interest on the 5.125% Senior Notes due 2023 accrues at the stated rate. The Company pays interest semi-annually in arrears on April 1 and October 1 of each year. On or after April 1, 2018, the Company may, at its option, redeem all or part of the 5.125% Senior Notes due 2023 at the redemption prices set forth in the indenture governing the 5.125% Senior Notes due 2023. The indenture contains certain covenants, including limitations and restrictions on the Company and its subsidiary guarantors.

Debt Repurchases

On August 16, 2019, the Company's Board of Directors authorized the Company to repurchase and/or retire a portion of the 6.00% Senior Notes due 2026, the 5.875% Senior Notes due 2024, the 5.125% Senior Notes due 2023, the 5.875% Senior Notes due 2022 (collectively the "GEO Senior Notes") and the Company's term loan under its Amended Credit Agreement through cash purchases, in open market purchases, privately negotiated transactions, or otherwise, up to an aggregate maximum of $100.0 million, subject to certain limitations through December 31, 2020. During the first quarter of 2021, the 5.875% Senior Notes due 2022 were redeemed in connection with the offering of the Convertible Notes discussed above. On February 11, 2021, the Board authorized a new repurchase program for repurchases/retirements of the above referenced GEO Senior Notes and term loan, subject to certain limitations up to an aggregate maximum of $100.0 million through December 31, 2022.

During the three months ended March 31, 2021, the Company repurchased $3.0 million in aggregate principal amount of its 5.125% Senior Notes due 2023 at a weighted average price of 89.38% for a total cost of $2.7 million. Additionally, the Company repurchased $17.2 million in aggregate principal amount of its 5.875% Senior Notes due 2024 at a weighted average price of 79.51% for a total cost of $13.7 million. As a result of these repurchases, the Company recognized a net gain on extinguishment of debt of $3.0 million, net of the write-off of associated unamortized deferred loan costs. There were no debt repurchases during the three months ended March 31, 2022.

Non-Recourse Debt

Australia - Ravenhall

In connection with a design and build project agreement with the State of Victoria, in September 2014, the Company entered into a syndicated facility agreement (the "Construction Facility") to provide debt financing for construction of the project. The Construction Facility provided for non-recourse funding of up to AUD791 million, or approximately $592.6 million, based on exchange rates as of March 31, 2022. In accordance with the terms of the contract, upon completion and commercial acceptance of the project in late 2017, the State of Victoria made a lump sum payment of AUD310 million, or approximately $232.2 million, based on exchange rates as of March 31, 2022. The term of the Construction Facility was through September 2020 and bore interest at a variable rate quoted by certain Australian banks plus 200 basis points. On May 22, 2019, the Company completed an offering of AUD461.6 million, or $345.8 million, based on exchange rates as of March 31, 2022, aggregate principal amount of non-recourse senior secured notes due 2042 (the "Non-Recourse Notes"). The amortizing Non-Recourse Notes were issued by Ravenhall Finance Co Pty Limited in a private placement pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. The Non-Recourse Notes were issued with a coupon and yield to maturity of 4.23% with a maturity date of March 31, 2042. The net proceeds from this offering were used to refinance the outstanding Construction Facility and to pay all related fees, costs and expenses associated with the transaction. As a result of the transaction, the Company incurred a $4.5 million loss on extinguishment of debt related to swap termination fees and unamortized deferred costs associated with the Construction Facility. Additionally, loan costs of approximately $7.5 million were incurred and capitalized in connection with the offering.

Other

In August 2019, the Company entered into two identical Notes in the aggregate amount of $44.3 million which are secured by loan agreements and mortgage and security agreements on certain real property and improvements. The terms of the Notes are through September 1, 2034 and bear interest at LIBOR plus 200 basis points and are payable in monthly installments plus interest. The Company has entered into interest rate swap agreements to fix the interest rate to 4.22%. Included in the balance at March 31, 2022 is $0.6 million of deferred loan costs incurred in the transaction. Refer to Note 9 - Derivative Financial Instruments for further information.

Guarantees

Australia

The Company has entered into a guarantee in connection with the operating performance of a facility in Australia. The obligation amounted to approximately AUD59 million, or $44.2 million, based on exchange rates as of March 31, 2022. The guarantee is secured by outstanding letters of credit under the Company's Revolver.

As of March 31, 2022, the Company also had seven other letters of credit outstanding under separate international facilities relating to performance guarantees of its Australian subsidiary totaling $10.0 million.

Except as discussed above, the Company does not have any off-balance sheet arrangements.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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+ Details

Commitments, Contingencies and Other Matters

3 Months Ended

Mar. 31, 2022

Commitments And Contingencies Disclosure [Abstract]

Commitments, Contingencies and Other Matters

11. COMMITMENTS, CONTINGENCIES AND OTHER MATTERS

Litigation, Claims and Assessments

On July 7, 2020, a purported shareholder class action lawsuit was filed against the Company, its then Chief Executive Officer, George C. Zoley (“Mr. Zoley”), and its Chief Financial Officer, Brian R. Evans (“Mr. Evans”), in the U.S. District Court for the Southern District of Florida. On October 1, 2020, the court entered an unopposed order appointing lead plaintiffs, approving the selection of counsel, dismissing the initial complaint, and setting a deadline for the filing of an amended complaint. On November 18, 2020, the lead plaintiffs filed a consolidated class action amended complaint. The amended complaint alleged that the Company and Messrs. Zoley and Evans––as well as J. David Donahue (“Mr. Donahue”), the Company’s former Senior Vice President and President of the U.S. Secure Services division, and Ann M. Schlarb (“Ms. Schlarb”), the Company’s Senior Vice President and President of the GEO Care division––made materially false and misleading statements and/or omissions related to GEO’s business––including quality of operations, corporate social responsibility, competitive strengths, pending litigation, business strategies, health and safety, sources of financing, dividend expectations, and COVID-19 procedures. The amended complaint was brought by lead plaintiffs James Michael DeLoach and Edward Oketola, individually and on behalf of a class consisting of all persons and entities––other than the defendants, the officers and directors of the Company, members of their immediate families and their legal representatives, heirs, successors or assigns and any entity in which the defendants have or had a controlling interest––who purchased or otherwise acquired the Company’s securities during the alleged class period from November 7, 2018 to August 5, 2020, inclusive. The amended complaint alleged that the defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Rule 10b-5 promulgated thereunder, and alleged that Messrs. Zoley, Evans, and Donahue and Ms. Schlarb violated Section 20(a) of the Exchange Act. On December 18, 2020, the defendants filed a motion to dismiss the amended complaint. On September 23, 2021, the court granted the motion to dismiss in part, and denied it in part. The court dismissed all claims against Messrs. Evans and Donahue, and Ms. Schlarb. The court also dismissed all claims against GEO and Mr. Zoley other than claims related to GEO's disclosures about pending litigation and directed plaintiffs to file an amended complaint in conformance with the court's order. On October 4, 2021, plaintiffs filed a consolidated class action second amended complaint. The second amended complaint alleges that GEO and Mr. Zoley violated Sections 10(b) and 20(a) of the Exchange Act by making materially false and misleading statements and/or omissions related to pending litigation, and seeks relief on behalf of a putative class consisting of all persons and entities––other than the defendants, the officers and directors of the Company, members of their immediate families and their legal representatives, heirs, successors or assigns and any entity in which the defendants have or had a controlling interest––who purchased or otherwise acquired the Company’s securities during the alleged class period from November 9, 2018 to August 5, 2020, inclusive. The second amended complaint seeks damages, interest, attorneys’ fees, expert fees, other costs, and such other relief as the court may deem proper. On October 18, 2021, GEO and Mr. Zoley filed a motion to dismiss and/or to strike, arguing that the second amended complaint failed to comply with the court's prior dismissal order and contains allegations beyond the disclosures and time period permitted by the court. The motion to dismiss is fully briefed and remains pending.

On July 1, 2021, a putative shareholder derivative complaint was filed in Palm Beach County, Florida’s Circuit Court against the Company, as well as its then Chief Executive Officer, Mr. Zoley, its Chief Financial Officer, Mr. Evans, Ms. Schlarb, its Senior Vice President and President of the GEO Care division, and current and former Company directors Richard H. Glanton, Anne N. Foreman, Christopher C. Wheeler, Julie M. Wood, Guido van Hauwermeiren, Scott M. Kernan, Jose Gordo, and Duane Helkowski (collectively,

“Defendants”). The complaint alleges breach of fiduciary duty and unjust enrichment claims against the individual Defendants relating to purported healthcare and quality of care deficiencies, an allegedly inadequate response to the COVID-19 pandemic, alleged forced labor by detainees, and alleged exposure to pending litigation, which purportedly led to damage to GEO. On September 28, 2021, Defendants filed a motion to stay, or alternatively motion to dismiss the complaint. On January 7, 2022, the Court entered an Agreed Order on Stay, staying this action until the resolution of the motion to dismiss and/or to strike pending in the federal purported shareholder class action lawsuit described above.

On November 12, 2021, a putative shareholder derivative complaint was filed in the U.S. District Court for the Southern District of Florida against the Company, as well as its then Chief Executive Officer, Mr. Zoley, its Chief Financial Officer, Mr. Evans, Ms. Schlarb, its Senior Vice President and President of the GEO Care division, David Venturella, its Senior Vice President, J. David Donahue, its former Senior Vice President and President, of the U.S. Secure Services division, and current and former Company directors Richard H. Glanton, Anne N. Foreman, Christopher C. Wheeler, Julie M. Wood, Guido van Hauwermeiren, Scott M. Kernan, Jose Gordo, and Duane Helkowski (collectively, “Defendants”). The complaint alleges that the individual Defendants violated Section 10(b) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Rule 10b-5 promulgated thereunder. The complaint also alleges breach of fiduciary duty, aiding and abetting breach of fiduciary duty, unjust enrichment, and waste of corporate assets against the individual Defendants relating to purported healthcare and quality of care deficiencies, an allegedly inadequate response to the COVID-19 pandemic, alleged forced labor by detainees, and alleged exposure to pending litigation, which purportedly led to damage to GEO. On January 14, 2022, the parties filed a joint motion to stay the action. On January 18, 2022, the court entered an Order Granting Joint Motion to Stay and Administratively Closing Case, staying this action pending the resolution of the federal purported shareholder class action lawsuit described above

Former civil immigration detainees at the Aurora ICE Processing Center filed a class action lawsuit on October 22, 2014, against the Company in the U.S. District Court for the District of Colorado. The complaint alleges that the Company was in violation of the Colorado Minimum Wages of Workers Act and the Federal Trafficking Victims Protection Act (“TVPA”). The plaintiff class claims that the Company was unjustly enriched because of the level of payment the detainees received for work performed at the facility, even though the voluntary work program as well as the wage rates and standards associated with the program that are at issue in the case are authorized by the Federal government under guidelines approved by the United States Congress. On July 6, 2015, the court found that detainees were not employees under the Colorado Minimum Wage Order and dismissed this claim. In February 2017, the court granted the plaintiff-class’ motion for class certification on the TVPA and unjust enrichment claims. The plaintiff class seeks actual damages, compensatory damages, exemplary damages, punitive damages, restitution, attorneys’ fees and costs, and such other relief as the court may deem proper.

In the time since the Colorado suit was initially filed, three similar lawsuits have been filed - two in Washington and one in California. The first of the two Washington lawsuits was filed on September 9, 2017 by immigration detainees against the Company in the U.S. District Court for the Western District of Washington. The second lawsuit was filed on September 20, 2017 by the State Attorney General against the Company in the Superior Court of the State of Washington for Pierce County, which the Company removed to the U.S. District Court for the Western District of Washington on October 9, 2017. The plaintiffs claimed that Washington State minimum wage laws should be enforced with respect to detainees who volunteer to participate in a Voluntary Work Program administered by GEO at the Center as required by the U.S. Department of Homeland Security under the terms of GEO’s contract. The Center houses persons in the custody of federal immigration authorities while their immigration status is being determined by the federal government.

In California, a class-action lawsuit was filed on December 19, 2017 by immigration detainees against the Company in the U.S. District Court Eastern Division of the Central District of California. All three lawsuits allege violations of the respective state’s minimum wage laws. However, the California lawsuit, like the Colorado suit, also includes claims that the Company violated the TVPA and California's equivalent state statute. The California court certified a nationwide class which would allow the plaintiffs to primarily seek injunctive relief or policy changes at a number of facilities if they are successful on the merits of their claims. On August 9, 2021, the California court conducted a hearing on Defendant’s Motion for Summary Judgment and Motion to Decertify Class, as well as Plaintiffs’ Motion for Partial Summary Judgment. The Motion to Decertify Class was granted. The Plaintiffs’ and Defendant’s Motion for Summary Judgment are pending. On March 31, 2022, Judge Bernal entered a stay of the California case until the Ninth Circuit rules on the Washington cases.

On July 2, 2019, the Company filed a Motion for Summary Judgment in the Washington Attorney General’s Tacoma lawsuit based on the Company’s position that its legal defenses prevent the case from proceeding to trial. The federal court in Washington denied the Company's Motion for Summary Judgment on August 6, 2019. However, on August 20, 2019, the DOJ filed a Statement of Interest, which asked the Washington court to revisit its prior denial of the Company's intergovernmental immunity defense in the case. While the Washington court ultimately elected not to dismiss the case at the time, its order declared that the Company's intergovernmental immunity defense was legally viable, to be ultimately determined at trial. After putting the lawsuits on “standby” for most of 2020 due to the COVID-19 pandemic, the trial court entered an order setting both suits for an estimated three-week trial beginning June 1, 2021. The court ordered a remote trial, but with the possibility of in-person proceedings. The order noted the Company’s exception to the remote trial setting. The Company filed a motion for reconsideration of the judge’s order setting a remote trial on April 8, 2021, requesting that the trial date be moved from June 1, 2021 to the earliest possible date after July 1, 2021, when the State of Washington

plans to allow in-person trials to resume. On April 9, 2021, the Washington court denied the motion for reconsideration for an in-person trial, ruling that a “hybrid” trial, with some parts being conducted in-person with COVID-19 precautions, would begin on June 1, 2021. On June 1, 2021, the remote Zoom trial began. On June 17, 2021, the trial judge declared a mistrial when the jury was unable to reach a unanimous verdict. The in-person jury re-trial began on October 12, 2021. In October 2021, an unfavorable jury verdict resulting in a combined $23.2 million judgment was entered against the Company in the retrial of two cases, State of Washington v. GEO Group and Nwauzor et. al. v. GEO Group (the “lawsuits”), in the U.S. District Court for the Western District of Washington, which judgment amounts were subsequently increased by a further award against the Company of attorney’s fees, costs and interest in the amount of $12.7 million. The trial court has waived the necessity to post a supersedeas bond for the combined judgments and has stayed enforcement of the verdict and judgments while GEO’s appeal to the U.S. Court of Appeals for the Ninth Circuit is pending.

GEO strongly disagrees with the verdict and judgments in the retrial of the lawsuits. GEO has raised several issues on appeal to the U.S. Court of Appeals for the Ninth Circuit, including the applicability of the state of Washington’s Minimum Wage Act to detainees who participate in the federally mandated Voluntary Work Program at the Northwest ICE Processing Center (the “Center”), and the affirmative defenses that GEO believes were wrongly dismissed in these cases. GEO looks forward to having those and other related issues heard on appeal based on GEO’s belief that the cases were wrongly decided. GEO intends to take all necessary steps to vigorously defend itself.

On December 30, 2019, the Company filed a lawsuit for declaratory and injunctive relief challenging California’s newly enacted law - Assembly Bill 32 (AB-32) - which bars the federal government from engaging the Company or any other government contractors to provide detention services for illegal immigrants. The Company’s claims, as described in the lawsuit, are grounded in authoritative legal doctrine that under the Constitution’s Supremacy Clause, the federal government is free from regulation by any state. By prohibiting federal detention facilities in California, the suit argues AB-32 substantially interferes with the ability of USMS and ICE to carry out detention responsibilities for the federal government. Secondly, because AB-32 creates exceptions to the State of California when using the Company or any government contractors (to alleviate overcrowding), California’s statute unlawfully discriminates against the federal government. On December 31, 2019, GEO filed its motion for a preliminary injunction restraining California’s Governor and Attorney General from enforcing AB-32 against the Company’s detention facilities on behalf of USMS and ICE. On January 24, 2020, the United States filed a lawsuit challenging AB-32. The court heard motions for preliminary injunction from the Company and the United States on July 16, 2020. The court ordered the parties to submit supplemental briefing and indicated it would render an opinion sometime after the filing deadline of August 18, 2020. On July 20, 2020, the court consolidated both lawsuits. On October 8, 2020, the court issued an order granting, in part, and denying in part, the Company and the United States’ motions and California’s motion to dismiss. Among other findings, the court (1) dismissed the Company’s intergovernmental immunity claims as well as the United States’ preemption claims as applied to ICE facilities; (2) found that the Company and the United States were likely to succeed on the preemption claims as applied to U.S. Marshals’ facilities and enjoined enforcing AB-32 against those facilities; and (3) refused to enjoin California from enforcing AB-32 against ICE contracts with the Company and the United States. The Company and the United States appealed to the Ninth Circuit Court of Appeals. Oral argument was held on June 7, 2021. On October 5, 2021, the Ninth Circuit Court of Appeals reversed the lower court’s decision, holding that AB-32 conflicted with federal law and could not stand. On April 26, 2022, the Ninth Circuit granted California’s petition for an en banc hearing and vacated the previous panel’s opinion. En banc arguments will take place the week of June 21, 2022, in Pasadena, California.

On April 29, 2021, the Company filed a lawsuit for declaratory and injunctive relief challenging the State of Washington’s newly enacted law – House Bill 1090 (EHB 1090) – that purports to prohibit the United States from using detention facilities operated by private contractors to house detainees in the custody of U.S. Immigration and Customs Enforcement (“ICE”). The Court has entered a stay in this action pending the final resolution of the AB-32 appeal.

The Company establishes accruals for specific legal proceedings when it is considered probable that a loss has been incurred and the amount of the loss can be reasonably estimated. However, the results of these claims or proceedings cannot be predicted with certainty, and an unfavorable resolution of one or more of these claims or proceedings could have a material adverse effect on the Company's financial condition, results of operations or cash flows or could result in a material impairment of the Company’s assets. The Company's accruals for loss contingencies are reviewed quarterly and adjusted as additional information becomes available. The Company does not accrue for anticipated legal fees and costs but expenses those items as incurred.

The nature of the Company's business also exposes it to various other third-party legal claims or litigation against the Company, including, but not limited to, civil rights claims relating to conditions of confinement and/or mistreatment, sexual misconduct claims brought by individuals in its care, medical malpractice claims, product liability claims, intellectual property infringement claims, claims relating to employment matters (including, but not limited to, employment discrimination claims, union grievances and wage and hour claims), property loss claims, environmental claims, automobile liability claims, indemnification claims by its customers and other third parties, contractual claims and claims for personal injury or other damages resulting from contact with the Company's facilities, programs, electronic monitoring products, personnel or detainees, including damages arising from the escape of an individual in its care or from a disturbance or riot at a facility.

Other Assessment

A state non-income tax audit completed in 2016 included tax periods for which the state tax authority had previously processed a substantial tax refund. At the completion of the audit fieldwork, the Company received a notice of audit findings disallowing deductions that were previously claimed by the Company, approved by the state tax authority and served as the basis for the approved refund claim. In early January 2017, the Company received a formal Notice of Assessment of Taxes and Demand for Payment from the taxing authority disallowing the deductions. The total tax, penalty and interest related to the assessment is approximately $19.4 million. The Company is appealing an administrative ruling and disagrees with the assessment and intends to take all necessary steps to vigorously defend its position. The Company has established a reserve based on its estimate of the most probable loss based on the facts and circumstances known to date and the advice of outside counsel in connection with this matter.

CARES Act

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was enacted in response to the COVID-19 pandemic. The CARES Act, among other things, allowed employers to defer the deposit and payment of the employer's share of Social Security taxes. The deferral applied to deposits and payments of the employer’s share of Social Security tax that would otherwise be required to be made during the period beginning on March 27, 2020 and ending on December 31, 2020. The deferred amounts are due to be paid in two equal installments no later than December 31, 2021 and December 31, 2022. The Company paid the first installment in September 2021. The balance of the deferred payroll taxes is approximately $20.0 million as of March 31, 2022.

Commitments

The Company currently has contractual commitments for a number of projects using Company financing. The Company’s management estimates that the cost of these existing active capital projects will be approximately $16.1 million of which $5.7 million was spent through the first three months of 2022. The Company estimates the remaining capital requirements related to these capital projects will be $10.4 million which will be spent through the remainder of 2022.

Idle Facilities

As of March 31, 2022, the Company was marketing nine of its idle facilities to potential customers. The carrying values of these idle facilities are included in Property and Equipment, Net and Assets for Sale in the accompanying consolidated balance sheets. The following table summarizes each of the idled facilities and their respective carrying values, excluding equipment and other assets that can be easily transferred for use at other facilities. There was no indication of impairment related to the Company's idle facilities as of March 31, 2022.

		Design			Net Carrying Value
Facility	Segment	Capacity		Date Idled	March 31, 2022
Great Plains Correctional Facility	Secure Services		1,940	2021	$	67,863
D. Ray James Correctional Facility	Secure Services		1,900	2021		52,237
Rivers Correctional Facility	Secure Services		1,450	2021		39,197
Big Spring Correctional Facility	Secure Services		1,732	2021		35,105
Flightline Correctional Facility	Secure Services		1,800	2021		36,583
McFarland Female Community Reentry Facility	Secure Services		300	2020		11,334
Cheyenne Mountain Recovery Center	Secure Services		750	2020		17,002
Coleman Hall	Reentry Services		350	2017		8,040
Hector Garza Center	Reentry Services		139	2020		5,063
Total			10,361		$	272,424

Business Segments and Geographic Information

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Business Segments and Geographic Information

12. BUSINESS SEGMENTS AND GEOGRAPHIC INFORMATION

Operating and Reporting Segments

The Company conducts its business through four reportable business segments: the U.S. Secure Services segment; the Electronic Monitoring and Supervision Services segment; the Reentry Services segment; and the International Services segment. The Company has identified these four reportable segments to reflect the current view that the Company operates four distinct business lines, each of which constitutes a material part of its overall business. The Company determined that its previously reportable business segment, Facility Construction and Design, no longer qualifies as a reportable segment as it no longer meets certain quantitative thresholds and has been aggregated with the Company’s International Services reportable business segment below. In addition, the Company appointed a new Chief Executive Officer, the chief operating decision maker, during fiscal 2021. Based on changes to the way the Company’s chief operating decision maker views the business and financial results used to allocate resources to its electronic monitoring and supervision services operations, along with the growth of the business, the Company will report the electronic monitoring and supervision services operation as a separate reportable segment. This new segment will be presented as Electronic Monitoring and Supervision Services. Previously, the electronic monitoring and supervision services operations were included in the GEO Care reportable segment. In addition, the GEO Care reportable segment was renamed Reentry Services and will include services provided to adults for residential and non-residential treatment, educational and community-based programs, pre-release and half-way house programs. Reentry Services also includes activities for our former youth division for half of 2021 and all historical periods. The youth division was divested on July 1, 2021. The Company has retroactively restated its segment presentation for the three months ended March 31, 2021 to reflect these changes.

The U.S. Secure Services segment primarily encompasses U.S.-based secure services business. The Electronic Monitoring and Supervision Services segment, which conducts its services in the United States, represents services provided to adults for monitoring services and evidence-based supervision and treatment programs for community-based parolees, probationers, and pretrial defendants. The Reentry Services segment, which conducts its services in the United States represents services provided to adults for residential and non-residential treatment, educational and community-based programs, pre-release and half-way house programs. The International Services segment primarily consists of secure services operations in South Africa and Australia. Segment disclosures below (in thousands) reflect the results of continuing operations. All transactions between segments are eliminated.

The Company's segment revenues from external customers and a measure of segment profit are as follows (in thousands):

	Three Months Ended
	March 31, 2022			March 31, 2021
Revenues:
U.S. Secure Services	$	351,245		$	387,011
Electronic Monitoring and Supervision Services		87,921			60,378
Reentry Services		61,431			75,104
International Services		50,588			53,884
Total revenues	$	551,185		$	576,377
Operating income from segments:
U.S. Secure Services	$	74,081		$	71,465
Electronic Monitoring and Supervision Services		38,920			25,477
Reentry Services		10,631			9,982
International Services		6,454			7,185
Operating income from segments	$	130,086		$	114,109
General and Administrative Expenses		(48,560	)		(48,479	)
Total Operating Income	$	81,526		$	65,630

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 thousands):

	Three Months Ended
	March 31, 2022			March 31, 2021
Operating income from segments	$	130,086		$	114,109
Unallocated amounts:
General and administrative expenses		(48,560	)		(48,479	)
Net interest expense		(25,993	)		(25,642	)
Gain on extinguishment of debt		-			3,038
(Loss) gain on disposition of real estate		(627	)		13,329
Income before income taxes and equity in earnings of affiliates	$	54,906		$	56,355

Equity in Earnings of Affiliates

Equity in earnings of affiliates includes the Company’s 50% owned joint ventures in South African Custodial Services Pty. Limited (“SACS”), located in South Africa, and GEOAmey PECS Limited (“GEOAmey”), located in the United Kingdom. The Company's investments in these entities are accounted for under the equity method of accounting. The Company’s investments in these entities are presented as a component of Other Non-Current Assets in the accompanying consolidated balance sheets.

The Company has recorded $0.8 million in earnings, net of tax, for SACS operations during the three months ended March 31, 2022, and $0.9 million in earnings, net of tax, for SACS operations during the three months ended March 31, 2021 which are included in equity in earnings of affiliates, net of income tax provision in the accompanying consolidated statements of operations. As of March 31, 2022, and December 31, 2021, the Company’s investment in SACS was $11.1 million and $10.3 million, respectively, and represents its share of cumulative reported earnings.

The Company has recorded $0.5 million in earnings, net of tax, for GEOAmey's operations during the three months ended March 31, 2022, and $1.1 million in earnings, net of tax, for GEOAmey's operations during the three months ended March 31, 2021, which are included in equity in earnings of affiliates, net of income tax provision in the accompanying consolidated statements of operations. As of March 31, 2022, and December 31, 2021, the Company’s investment in GEOAmey was $9.5 million and $10.1 million, respectively, and represents its share of cumulative reported earnings.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Benefit Plans

3 Months Ended

Mar. 31, 2022

Compensation And Retirement Disclosure [Abstract]

Benefit Plans

13. BENEFIT PLANS

The Company has two non-contributory defined benefit pension plans covering certain of the Company’s executives. Retirement benefits are based on years of service, employees’ average compensation for the last five years prior to retirement and social security benefits. Currently, the plans are not funded. The Company purchased and is the beneficiary of life insurance policies for certain participants enrolled in the plans. The following table summarizes key information related to the Company’s defined benefit pension plans (in thousands):

	Three Months Ended March 31, 2022			Year Ended December 31, 2021
Change in Projected Benefit Obligation
Projected benefit obligation, beginning of period	$	31,830		$	33,530
Service cost		280			1,404
Interest cost		240			1,274
Actuarial gain		—			(3,505	)
Benefits paid		(224	)		(873	)
Projected benefit obligation, end of period	$	32,126		$	31,830
Change in Plan Assets
Plan assets at fair value, beginning of period	$	—		$	—
Company contributions		224			873
Benefits paid		(224	)		(873	)
Plan assets at fair value, end of period	$	—		$	—
Unfunded Status of the Plan	$	32,126		$	31,830

	Three Months Ended
	March 31, 2022		March 31, 2021
Components of Net Periodic Benefit Cost
Service cost	$	280	$	351
Interest cost		240		319
Net loss		108		197
Net periodic pension cost	$	628	$	867

The long-term portion of the pension liability above as of March 31, 2022 and December 31, 2021 was $31.3 million and $31.5 million, respectively, and is included in Other Non-Current Liabilities in the accompanying consolidated balance sheets.

Amended and Restated Executive Retirement Agreement

The Company also has a non-qualified deferred compensation agreement with its former CEO. The agreement provides for a lump sum cash payment upon retirement, no sooner than age 55. As of March 31, 2022, the former CEO had reached age 55 and was eligible to receive the payment upon retirement.

On May 27, 2021, the Company and its former CEO entered into an Amended and Restated Executive Retirement Agreement which replaced the former CEO’s previous agreement, effective July 1, 2021. Pursuant to the terms of the Amended and Restated Executive Retirement Agreement, upon the date that the former CEO ceases to provide services to the Company, the Company will pay to the former CEO an amount equal to $3,600,000 which shall be paid in cash. The payment shall be credited with interest at a rate of 5% compounded quarterly. Additionally, at the end of each calendar year provided that the former CEO is still providing services to GEO pursuant to the Executive Chairman Agreement, GEO will credit an amount equal to $1,000,000 at the end of each calendar year (the “Employment Contributions Account”). The Employment Contributions Account will be credited with interest at the rate of 5% compounded quarterly. The balance of the Amended and Restated Executive Retirement Agreement was approximately $5.2 million at March 31, 2022.

The Company has established several trusts for the purpose of paying the retirement benefit pursuant to the Amended and Restated Executive Retirement Agreement. The trusts are revocable “rabbi trusts” and the assets of the trusts are subject to the claims of the Company’s creditors in the event of the Company’s insolvency.

- Definition

The entire disclosure for retirement benefits.

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+ Details

Recent Accounting Pronouncements

3 Months Ended

Mar. 31, 2022

New Accounting Pronouncements And Changes In Accounting Principles [Abstract]

Recent Accounting Pronouncements

14. RECENT ACCOUNTING PRONOUNCEMENTS

The following accounting standard will be adopted in future periods:

In March 2020, the Financial Accounting Standards Board (“FASB”) issued ASU 2020-04, “Reference Reform Rate (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting,” to provide temporary optional expedients and exceptions to the contract modifications, hedge relationships and other transactions affected by reference rate reform if certain criteria are met. This ASU, which was effective upon issuance and may be applied through December 31, 2022, is applicable to all contracts and hedging relationships that reference the London Interbank Offered Rate or any other reference rate expected to be discontinued. We are currently evaluating the impact of reference rate reform and the potential application of this guidance.

Other recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the American Institute of Certified Public Accountants and the SEC did not, or are not expected to, have a material effect on the Company's results of operations or financial position.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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+ Details

Subsequent Events

3 Months Ended

Mar. 31, 2022

Subsequent Events [Abstract]

Subsequent Events

15. SUBSEQUENT EVENTS

On April 19, 2022, the Company closed on the sale of its company-owned and previously idled facility, Perry County Correctional Center in Uniontown, Alabama, to the Alabama Board of Pardons and Paroles for consideration of approximately $15 million.

Effective April 6, 2022, Delaware County, Pennsylvania took over the managed-only George W. Hill Correctional Facility.

Basis of Presentation (Policies)	3 Months Ended
Basis of Presentation (Policies)	Mar. 31, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Risk And Uncertainties	Risks and uncertainties Executive Order On January 26, 2021, President Biden signed an executive order directing the United States Attorney General not to renew Department of Justice (“DOJ”) contracts with privately operated criminal detention facilities, as consistent with applicable law. Two agencies of the DOJ, the Federal Bureau of Prisons (“BOP”) and the U.S. Marshals Service (“USMS”), utilize GEO’s support services. The BOP houses inmates who have been convicted of federal crimes, and the USMS is generally responsible for detainees who are awaiting trial or sentencing in U.S. federal courts. As of March 31, 2022, GEO has one company-owned facility under direct contract with the BOP, which has a current contract option period that expires on September 30, 2022, and three company-owned/company-leased facilities under direct contracts with USMS, which have current contract option periods that expire between June 30, 2022 and September 30, 2023. COVID-19 In December 2019, a novel strain of coronavirus, now known as COVID-19 (“COVID-19”), was reported in Wuhan, China and has since extensively impacted the global health and economic environment. In January 2020, the World Health Organization (“WHO”) declared it a Public Health Emergency of International Concern. On February 28, 2020, the WHO raised its assessment of the COVID-19 threat from high to very high at a global level due to the continued increase in the number of cases and affected countries, and on March 11, 2020, the WHO characterized COVID-19 as a pandemic. The Company has been closely monitoring the impact of the COVID-19 pandemic on all aspects of its business and geographies, including how it will impact those entrusted to its care and governmental partners. The Company has incurred disruptions from the COVID-19 pandemic but, it is unable to predict the overall future impact that the COVID-19 pandemic will have on its financial condition, results of operations and cash flows due to numerous uncertainties related to the pandemic. The COVID-19 pandemic and related government-imposed mandatory closures, the efficacy and distribution of COVID-19 vaccines and boosters, the evolution of COVID-19 variants, shelter in-place restrictions, labor shortages and social distancing protocols and increased expenditures on engineering controls, personal protective equipment, diagnostic testing, medical expenses, temperature scanners, protective plexiglass barriers and increased sanitation have had, and will continue to have, a severe impact on global economic conditions and the environment in which the Company operates. Additionally, the Company has experienced the transmission of COVID-19 among detainees and staff at most of its facilities. If the Company is unable to mitigate the transmission of COVID-19 at its facilities it could experience a material adverse effect on its financial position, results of operations and cash flows. Although the Company is unable to predict the duration or scope of the COVID-19 pandemic or estimate the extent of the negative financial impact to its operating results, an extended period of depressed economic activity necessitated to combating the disease, and the severity and duration of the related global economic crisis may adversely impact its future financial performance.
Recent Accounting Pronouncements	RECENT ACCOUNTING PRONOUNCEMENTS The following accounting standard will be adopted in future periods: In March 2020, the Financial Accounting Standards Board (“FASB”) issued ASU 2020-04, “Reference Reform Rate (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting,” to provide temporary optional expedients and exceptions to the contract modifications, hedge relationships and other transactions affected by reference rate reform if certain criteria are met. This ASU, which was effective upon issuance and may be applied through December 31, 2022, is applicable to all contracts and hedging relationships that reference the London Interbank Offered Rate or any other reference rate expected to be discontinued. We are currently evaluating the impact of reference rate reform and the potential application of this guidance. Other recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the American Institute of Certified Public Accountants and the SEC did not, or are not expected to, have a material effect on the Company's results of operations or financial position.

Goodwill and Other Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2022

Goodwill And Intangible Assets Disclosure [Abstract]

Changes in the Company's Goodwill Balances

Changes in the Company's goodwill balances from January 1, 2022 to March 31, 2022 are as follows (in thousands):

	January 1, 2022		Foreign Currency Translation		March 31, 2022
U.S. Secure Services	$	316,366	$	—	$	316,366
Electronic Monitoring and Supervision Services	$	289,570	$	—		289,570
Reentry Services		148,873		—		148,873
International Services		416		13		429
Total Goodwill	$	755,225	$	13	$	755,238

Schedule of Intangible Assets

The Company's intangible assets include facility management contracts, covenants not to compete, trade names and technology, as follows (in thousands):

	March 31, 2022									December 31, 2021
	Weighted Average Useful Life (years)		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Facility management contracts		16.3	$	308,397	$	(196,317	)	$	112,080	$	308,369	$	(189,163	)	$	119,206
Technology		7.3		33,700		(32,285	)		1,415		33,700		(31,982	)		1,718
Trade names	Indefinite			45,200		—			45,200		45,200		—			45,200
Total acquired intangible assets			$	387,297	$	(228,602	)	$	158,695	$	387,269	$	(221,145	)	$	166,124

Estimated Amortization Expense for the Remainder

Estimated amortization expense related to the Company's finite-lived intangible assets for the remainder of 2022 through 2026 and thereafter is as follows (in thousands):

Fiscal Year	Total Amortization Expense
Remainder of 2022	$	10,977
2023		11,813
2024		9,314
2025		9,263
2026		7,170
Thereafter		64,958
	$	113,495

Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2022

Financial Instruments Financial Assets Balance Sheet Groupings [Abstract]

Fair Value Assets and Liabilities Measured on Recurring Basis

			Fair Value Measurements at March 31, 2022
	Carrying Value at March 31, 2022		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Restricted investments:
Rabbi Trust	$	40,752	$	—	$	40,752	$	—
Marketable equity and fixed income securities		17,845		—		17,845		—
Liabilities:
Interest rate swap derivatives	$	76	$	—	$	76	$	—

			Fair Value Measurements at December 31, 2021
	Carrying Value at December 31, 2021		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Restricted investments:
Rabbi Trust	$	42,937	$	—	$	42,937	$	—
Marketable equity and fixed income securities		11,551	$	—		11,551		—
Fixed income securities		1,927		—		1,927		—
Liabilities:
Interest rate swap derivatives	$	3,195	$	—	$	3,195	$	—

Fair Value of Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Carrying Value and Estimated Fair Value of Financial Instruments

The following tables present the carrying values of those financial instruments and the estimated corresponding fair values at March 31, 2022 and December 31, 2021 (in thousands):

			Estimated Fair Value Measurements at March 31, 2022
	Carrying Value as of March 31, 2022		Total Fair Value		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	598,508	$	598,508	$	598,508	$	—	$	—
Restricted cash and investments		50,084		50,084		50,084		—		—
Liabilities:
Borrowings under senior credit facility	$	1,546,466	$	1,437,949	$	—	$	1,437,949	$	—
5.125% Senior Notes due 2023		259,275		244,807		—		244,807		—
5.875% Senior Notes due 2024		225,293		192,589		—		192,589		—
6.00% Senior Notes due 2026		350,000		272,556		—		272,556		—
6.50% Exchangeable Senior Notes due 2026		230,000		235,273		—		235,273		—
Non-recourse debt		317,464		317,464		—		317,464		—

			Estimated Fair Value Measurements at December 31, 2021
	Carrying Value as of December 31, 2021		Total Fair Value		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	506,491	$	506,491	$	506,491	$	—	$	—
Restricted cash and investments		41,831		41,831		41,831		—		—
Liabilities:
Borrowings under senior credit facility	$	1,546,895	$	1,448,280	$	—	$	1,448,280	$	—
5.125% Senior Notes due 2023		259,275		248,479		—		248,479		—
5.875% Senior Notes due 2024		225,293		199,522		—		199,522		—
6.00% Senior Notes due 2026		350,000		283,691		—		283,691		—
6.50% Exchangeable Senior Notes due 2026		230,000		248,211				248,211
Non-recourse debt		310,108		310,108		—		310,108		—

Restricted Cash and Cash Equivalents (Tables)

3 Months Ended

Mar. 31, 2022

Cash And Cash Equivalents [Abstract]

Reconciliation of Cash, Cash Equivalents and Restricted Cash and Cash Equivalents

	March 31, 2022			March 31, 2021
Cash and cash equivalents	$	598,508		$	289,391
Restricted cash and cash equivalents - current		23,795			29,317
Restricted cash and investments - non-current		84,886			39,924
Less Restricted investments - non-current		(58,597	)		(37,940	)
Total cash, cash equivalents and restricted cash and cash equivalents shown in the statement of cash flows	$	648,592		$	320,692

Shareholders' Equity (Tables)

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

Changes in Shareholders' Equity that are Attributable to the Company's Shareholders and to Noncontrolling Interests

	Common shares						Additional Paid-In			Distributions in Excess of			Accumulated Other Comprehensive			Treasury shares					Noncontrolling			Total Shareholders'
	Shares			Amount			Capital			Earnings			Loss			Shares		Amount			Interests			Equity
For the Three Months Ended March 31, 2022
Balance, January 1, 2022		122,472		$	1,273		$	1,276,213		$	(175,960	)	$	(20,216	)		4,852	$	(105,099	)	$	(1,195	)	$	975,016
Stock-based compensation expense		—			—			6,313			—			—			—		—			—			6,313
Restricted stock granted		1,784			18			(18	)		—			—			—		—			—			—
Restricted stock canceled		(26	)		—			—			—			—			—		—			—			—
Shares withheld for net settlements of share- based awards [1]		(226	)		(2	)		(1,283	)		—			—			—		—			—			(1,285	)
Issuance of common stock - ESPP		7			—			43			—			—			—		—			—			43
Net income (loss)		—			—			—			38,219			—			—		—			(40	)		38,179
Other comprehensive income (loss)		—			—			—			—			2,584			—		—			(15	)		2,569
Balance, March 31, 2022		124,011		$	1,289		$	1,281,268		$	(137,741	)	$	(17,632	)		4,852	$	(105,099	)	$	(1,250	)	$	1,020,835

	Common shares						Additional Paid-In			Distributions in Excess of			Accumulated Other Comprehensive			Treasury shares					Noncontrolling			Total Shareholders'
	Shares			Amount			Capital			Earnings			Loss			Shares		Amount			Interests			Equity
For the Three Months Ended March 31 2021
Balance, January 1, 2021		121,318		$	1,262		$	1,262,267		$	(222,892	)	$	(22,589	)		4,835	$	(104,946	)	$	(1,020	)	$	912,082
Stock-based compensation expense		—			—			7,402			—			—			—		—			—			7,402
Restricted stock granted		1,248			12			(12	)		—			—			—		—			—			-
Restricted stock canceled		(18	)		—			—			—			—			—		—			—			-
Dividends paid		—			—			—			(30,486	)		—			—		—			—			(30,486	)
Other adjustment to paid-in capital								153									—								153
Purchase of treasury shares		(17	)		—			—			—			—			17		(153	)					(153	)
Shares withheld for net settlements of share- based awards [1]		(243	)		(2	)		(1,899	)		—			—			—		—			—			(1,901	)
Issuance of common stock - ESPP		15			—			116			—			—			—		—			—			116
Net income (loss)		—			—			—			50,544			—			—		—			(61	)		50,483
Other comprehensive income (loss)		—			—			—			—			2,479			—		—			(2	)		2,477
Balance, March 31, 2021		122,303		$	1,272		$	1,268,027		$	(202,834	)	$	(20,110	)		4,852	$	(105,099	)	$	(1,083	)	$	940,173

[1]	During the three months ended March 31, 2022 and 2021, the Company withheld shares through net share settlements to satisfy statutory tax withholding requirements upon vesting of shares of restricted stock held by employees.

Schedule of Accumulated Other Comprehensive Income (Loss)

The components of accumulated other comprehensive income (loss) attributable to GEO within shareholders' equity are as follows:

	Three Months Ended March 31, 2022
	(In thousands)
	Foreign currency translation adjustments, net of tax (1)			Change in fair value of derivatives, net of tax			Change in marketable securities, net of tax			Pension adjustments, net of tax			Total
Balance, January 1, 2022	$	(12,461	)	$	(2,524	)	7			$	(5,238	)	$	(20,216	)
Current-period other comprehensive income (loss)		440			2,464			(405	)		85			2,584
Balance, March 31, 2022	$	(12,021	)	$	(60	)	$	(398	)	$	(5,153	)	$	(17,632	)

	Three Months Ended March 31, 2021
	(In thousands)
	Foreign currency translation adjustments, net of tax (1)			Change in fair value of derivatives, net of tax			Pension adjustments, net of tax			Total
Balance, January 1, 2021	$	(9,207	)	$	(4,752	)	$	(8,630	)	$	(22,589	)
Current-period other comprehensive income (loss)		(626	)		2,949			156			2,479
Balance, March 31, 2021	$	(9,833	)	$	(1,803	)	$	(8,474	)	$	(20,110	)

(1)

The foreign currency translation related to noncontrolling interests was not significant at March 31, 2022 or 2021.

Equity Incentive Plans (Tables)

3 Months Ended

Mar. 31, 2022

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Options Activity

A summary of the activity of stock option awards issued and outstanding under Company plans was as follows for the three months ended March 31, 2022:

	Shares			Wtd. Avg. Exercise Price		Wtd. Avg. Remaining Contractual Term (years)		Aggregate Intrinsic Value
	(in thousands)							(in thousands)
Options outstanding at January 1, 2022		1,847		$	19.92		6.23	$	73
Options granted		340			5.76
Options exercised		—			—
Options forfeited/canceled/expired		(83	)		17.99
Options outstanding at March 31, 2022		2,104		$	17.74		6.65	$	286
Options vested and expected to vest at March 31, 2022		1,996		$	18.25		6.51	$	238
Options exercisable at March 31, 2022		1,329		$	22.67		5.27	$	—

Summary of Restricted Stock Activity

A summary of the activity of restricted stock outstanding is as follows for the three months ended March 31, 2022:

	Shares			Wtd. Avg. Grant Date Fair Value
	(in thousands)
Restricted stock outstanding at January 1, 2022		2,619		$	12.53
Granted		1,784			6.02
Vested		(735	)		17.01
Forfeited/canceled		(26	)		10.30
Restricted stock outstanding at March 31, 2022		3,642		$	8.26

Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

Basic and Diluted Earnings Per Share

Basic and diluted earnings per share were calculated for the three months ended March 31, 2022 and 2021 as follows (in thousands, except per share data):

	Three Months Ended
	March 31, 2022			March 31, 2021
Net income	$	38,179		$	50,483
Net loss attributable to noncontrolling interests		40			61
Less: Undistributed income allocable to participating securities		(6,542	)		(1,420	)
Net income attributable to The GEO Group, Inc. available to common stockholders		31,677			49,124
Basic earnings per share attributable to The GEO Group, Inc. available to common stockholders:
Weighted average shares outstanding		120,714			120,022
Per share amount - basic	$	0.26		$	0.41
Diluted earnings per share attributable to The GEO Group, Inc. available to common stockholders:
Weighted average shares outstanding		120,714			120,022
Dilutive effect of equity incentive plans		680			395
Weighted average shares assuming dilution		121,394			120,417
Per share amount - diluted	$	0.26		$	0.41

Debt (Tables)

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Summary of Debt

Debt outstanding as of March 31, 2022 and December 31, 2021 consisted of the following (in thousands):

	March 31, 2022			December 31, 2021
Senior Credit Facility:
Term loan	$	760,000		$	762,000
Unamortized discount on term loan		(1,020	)		(1,152	)
Unamortized debt issuance costs on term loan		(2,419	)		(2,733	)
Revolver		786,466			784,895
Total Senior Credit Facility		1,543,027			1,543,010
6.50% Exchangeable Notes Due in 2026:
Notes Due in 2026		230,000			230,000
Unamortized debt issuance costs		(7,823	)		(8,246	)
Total 6.50% Exchangeable Notes Due in 2026		222,177			221,754
6.00% Senior Notes due 2026:
Notes Due in 2026		350,000			350,000
Unamortized debt issuance costs		(2,943	)		(3,099	)
Total 6.00% Senior Notes Due in 2026		347,057			346,901
5.875% Senior Notes due 2024:
Notes Due in 2024		225,293			225,293
Unamortized debt issuance costs		(1,295	)		(1,410	)
Total 5.875% Senior Notes Due in 2024		223,998			223,883
5.125% Senior Notes due 2023:
Notes Due in 2023		259,275			259,275
Unamortized debt issuance costs		(1,056	)		(1,221	)
Total 5.125% Senior Notes Due in 2023		258,219			258,054
Non-Recourse Debt		317,464			310,108
Unamortized debt issuance costs on non-recourse debt		(4,665	)		(4,556	)
Total Non-Recourse Debt		312,799			305,552
Finance Lease Liabilities		3,216			3,843
Other debt, net		41,126			41,363
Total debt		2,951,619			2,944,360
Current portion of finance lease liabilities, long-term debt and non-recourse debt		(18,617	)		(18,568	)
Finance Lease Liabilities, long-term portion		(1,805	)		(1,977	)
Non-Recourse Debt, long-term portion		(304,724	)		(297,856	)
Long-Term Debt	$	2,626,473		$	2,625,959

Commitments, Contingencies and Other Matters (Tables)

3 Months Ended

Mar. 31, 2022

Commitments And Contingencies Disclosure [Abstract]

Summary of Idled Facilities and Respective Carrying Values

The following table summarizes each of the idled facilities and their respective carrying values, excluding equipment and other assets that can be easily transferred for use at other facilities. There was no indication of impairment related to the Company's idle facilities as of March 31, 2022

		Design			Net Carrying Value
Facility	Segment	Capacity		Date Idled	March 31, 2022
Great Plains Correctional Facility	Secure Services		1,940	2021	$	67,863
D. Ray James Correctional Facility	Secure Services		1,900	2021		52,237
Rivers Correctional Facility	Secure Services		1,450	2021		39,197
Big Spring Correctional Facility	Secure Services		1,732	2021		35,105
Flightline Correctional Facility	Secure Services		1,800	2021		36,583
McFarland Female Community Reentry Facility	Secure Services		300	2020		11,334
Cheyenne Mountain Recovery Center	Secure Services		750	2020		17,002
Coleman Hall	Reentry Services		350	2017		8,040
Hector Garza Center	Reentry Services		139	2020		5,063
Total			10,361		$	272,424

Business Segments and Geographic Information (Tables)

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Schedule of Operating and Reporting Segments

The Company's segment revenues from external customers and a measure of segment profit are as follows (in thousands):

	Three Months Ended
	March 31, 2022			March 31, 2021
Revenues:
U.S. Secure Services	$	351,245		$	387,011
Electronic Monitoring and Supervision Services		87,921			60,378
Reentry Services		61,431			75,104
International Services		50,588			53,884
Total revenues	$	551,185		$	576,377
Operating income from segments:
U.S. Secure Services	$	74,081		$	71,465
Electronic Monitoring and Supervision Services		38,920			25,477
Reentry Services		10,631			9,982
International Services		6,454			7,185
Operating income from segments	$	130,086		$	114,109
General and Administrative Expenses		(48,560	)		(48,479	)
Total Operating Income	$	81,526		$	65,630

Schedule of Pre-Tax Income Reconciliation of Segments

	Three Months Ended
	March 31, 2022			March 31, 2021
Operating income from segments	$	130,086		$	114,109
Unallocated amounts:
General and administrative expenses		(48,560	)		(48,479	)
Net interest expense		(25,993	)		(25,642	)
Gain on extinguishment of debt		-			3,038
(Loss) gain on disposition of real estate		(627	)		13,329
Income before income taxes and equity in earnings of affiliates	$	54,906		$	56,355

Benefit Plans (Tables)

3 Months Ended

Mar. 31, 2022

Compensation And Retirement Disclosure [Abstract]

Components of Company Plan Benefit Expense

The following table summarizes key information related to the Company’s defined benefit pension plans (in thousands):

	Three Months Ended March 31, 2022			Year Ended December 31, 2021
Change in Projected Benefit Obligation
Projected benefit obligation, beginning of period	$	31,830		$	33,530
Service cost		280			1,404
Interest cost		240			1,274
Actuarial gain		—			(3,505	)
Benefits paid		(224	)		(873	)
Projected benefit obligation, end of period	$	32,126		$	31,830
Change in Plan Assets
Plan assets at fair value, beginning of period	$	—		$	—
Company contributions		224			873
Benefits paid		(224	)		(873	)
Plan assets at fair value, end of period	$	—		$	—
Unfunded Status of the Plan	$	32,126		$	31,830

Components of Net Periodic Benefit Cost

	Three Months Ended
	March 31, 2022		March 31, 2021
Components of Net Periodic Benefit Cost
Service cost	$	280	$	351
Interest cost		240		319
Net loss		108		197
Net periodic pension cost	$	628	$	867

Basis of Presentation - Additional Information (Details)		3 Months Ended
	Jan. 26, 2021	Mar. 31, 2022 bed facility person detainee
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of beds \| bed		83,000
Correctional, detention and residential treatment facilities including projects under development \| facility		103
Provision of monitoring services tracking offenders, number of individuals (more than) \| person		300,000
Provision of monitoring services tracking offenders using technology products (in detainees) \| detainee		100,000
Taxable income to its stockholders equity		90.00%
Bureau of Prisons
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Expiration date	Sep. 30, 2022
U.S. Marshals Service \| Minimum
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Expiration date	Jun. 30, 2022
U.S. Marshals Service \| Maximum
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Expiration date	Sep. 30, 2023

Goodwill and Other Intangible Assets - Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022 USD ($)
Changes in the Company's goodwill balances
Beginning balance	$ 755,225
Foreign Currency Translation	13
Ending balance	755,238
U.S. Secure Services
Changes in the Company's goodwill balances
Beginning balance	316,366
Ending balance	316,366
Electronic Monitoring and Supervision Services
Changes in the Company's goodwill balances
Beginning balance	289,570
Ending balance	289,570
Reentry Services
Changes in the Company's goodwill balances
Beginning balance	148,873
Ending balance	148,873
International Services
Changes in the Company's goodwill balances
Beginning balance	416
Foreign Currency Translation	13
Ending balance	$ 429

Goodwill and Other Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Schedule of intangible assets
Intangible assets, gross carrying amount	$ 387,297	$ 387,269
Accumulated Amortization	(228,602)	(221,145)
Total acquired intangible assets, Net carrying amount	158,695	166,124
Net Carrying Amount	113,495
Trade names
Schedule of intangible assets
Indefinite lived intangible assets	45,200	45,200
Facility management contracts
Schedule of intangible assets
Gross Carrying Amount	308,397	308,369
Accumulated Amortization	(196,317)	(189,163)
Net Carrying Amount	$ 112,080	119,206
Amortization period	16 years 3 months 18 days
Technology
Schedule of intangible assets
Gross Carrying Amount	$ 33,700	33,700
Accumulated Amortization	(32,285)	(31,982)
Net Carrying Amount	$ 1,415	$ 1,718
Amortization period	7 years 3 months 18 days

Goodwill and Other Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Finite Lived Intangible Assets [Line Items]
Amortization expense	$ 7.5	$ 5.3
Facility management contracts
Finite Lived Intangible Assets [Line Items]
Weighted average period before renewal or extension	2 years 9 months 18 days

Goodwill and Other Intangible Assets - Estimated Amortization Expense (Details) $ in Thousands	Mar. 31, 2022 USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Remainder of 2022	$ 10,977
2023	11,813
2024	9,314
2025	9,263
2026	7,170
Thereafter	64,958
Net Carrying Amount	$ 113,495

Financial Instruments - Fair Value Assets and Liabilities Measured on Recurring Basis (Details) - Recurring - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Restricted investments:
Rabbi Trust	$ 40,752	$ 42,937
Marketable equity and fixed income securities	17,845	11,551
Fixed income securities		1,927
Significant Other Observable Inputs (Level 2)
Restricted investments:
Rabbi Trust	40,752	42,937
Marketable equity and fixed income securities	17,845	11,551
Fixed income securities		1,927
Interest Rate Swap
Liabilities:
Interest rate swap derivatives	76	3,195
Interest Rate Swap \| Significant Other Observable Inputs (Level 2)
Liabilities:
Interest rate swap derivatives	$ 76	$ 3,195

Fair Value of Assets and Liabilities - Carrying Value and Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Assets:
Cash and cash equivalents	$ 598,508	$ 506,491	$ 289,391
Carrying Value
Assets:
Cash and cash equivalents	598,508	506,491
Restricted cash and investments	50,084	41,831
Liabilities:
Borrowings under senior credit facility	1,546,466	1,546,895
Non-recourse debt	317,464	310,108
Fair Value
Assets:
Cash and cash equivalents	598,508	506,491
Restricted cash and investments	50,084	41,831
Liabilities:
Borrowings under senior credit facility	1,437,949	1,448,280
Non-recourse debt	317,464	310,108
Quoted Prices in Active Markets (Level 1) \| Fair Value
Assets:
Cash and cash equivalents	598,508	506,491
Restricted cash and investments	50,084	41,831
Significant Other Observable Inputs (Level 2) \| Fair Value
Liabilities:
Borrowings under senior credit facility	1,437,949	1,448,280
Non-recourse debt	317,464	310,108
5.125% Senior Notes due 2023 \| Carrying Value
Liabilities:
Senior notes, fair value	259,275	259,275
5.125% Senior Notes due 2023 \| Fair Value
Liabilities:
Senior notes, fair value	244,807	248,479
5.125% Senior Notes due 2023 \| Significant Other Observable Inputs (Level 2) \| Fair Value
Liabilities:
Senior notes, fair value	244,807	248,479
5.875% Senior Notes due 2024 \| Carrying Value
Liabilities:
Senior notes, fair value	225,293	225,293
5.875% Senior Notes due 2024 \| Fair Value
Liabilities:
Senior notes, fair value	192,589	199,522
5.875% Senior Notes due 2024 \| Significant Other Observable Inputs (Level 2) \| Fair Value
Liabilities:
Senior notes, fair value	192,589	199,522
6.00% Senior Notes due 2026 \| Carrying Value
Liabilities:
Senior notes, fair value	350,000	350,000
6.00% Senior Notes due 2026 \| Fair Value
Liabilities:
Senior notes, fair value	272,556	283,691
6.00% Senior Notes due 2026 \| Significant Other Observable Inputs (Level 2) \| Fair Value
Liabilities:
Senior notes, fair value	272,556	283,691
6.50% Exchangeable Senior Notes due 2026 \| Carrying Value
Liabilities:
Senior notes, fair value	230,000	230,000
6.50% Exchangeable Senior Notes due 2026 \| Fair Value
Liabilities:
Senior notes, fair value	235,273	248,211
6.50% Exchangeable Senior Notes due 2026 \| Significant Other Observable Inputs (Level 2) \| Fair Value
Liabilities:
Senior notes, fair value	$ 235,273	$ 248,211

Fair Value of Assets and Liabilities - Carrying Value and Estimated Fair Value of Financial Instruments (Parenthetical) (Details)	Mar. 31, 2022	Dec. 31, 2021	Feb. 24, 2021
5.125% Senior Notes due 2023
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Stated interest rate	5.125%	5.125%
5.875% Senior Notes due 2024
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Stated interest rate	5.875%	5.875%
6.00% Senior Notes due 2026
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Stated interest rate	6.00%	6.00%
6.50% Exchangeable Senior Notes due 2026
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Stated interest rate	6.50%	6.50%	6.50%

Fair Value of Assets and Liabilities - Additional Information (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021	Feb. 24, 2021
5.875% Senior Notes due 2024
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Stated interest rate	5.875%	5.875%
6.00% Senior Notes due 2026
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Stated interest rate	6.00%	6.00%
5.125% Senior Notes due 2023
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Stated interest rate	5.125%	5.125%
6.50% Exchangeable Senior Notes due 2026
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Stated interest rate	6.50%	6.50%	6.50%
Debt instrument, face amount			$ 230

Restricted Cash and Cash Equivalents - Reconciliation of Cash, Cash Equivalents and Restricted Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Cash And Cash Equivalents [Abstract]
Cash and cash equivalents	$ 598,508	$ 506,491	$ 289,391
Restricted cash and cash equivalents - current	23,795		29,317
Restricted cash and investments - non-current	84,886	76,158	39,924
Less Restricted investments - non-current	(58,597)		(37,940)
Total cash, cash equivalents and restricted cash and cash equivalents shown in the statement of cash flows	$ 648,592	$ 548,322	$ 320,692	$ 311,853

Shareholders' Equity - Changes in Shareholders' Equity (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Changes in shareholders' equity that are attributable to the Company's shareholders and to non controlling interests
Beginning Balance	$ 975,016	$ 912,082
Stock-based compensation expense	6,313	7,402
Dividends paid		(30,486)
Other adjustment to paid-in capital		153
Purchase of treasury shares		(153)
Shares withheld for net settlements of share - based awards	(1,285)	(1,901)
Issuance of common stock - ESPP	43	116
Net income (loss)	38,179	50,483
Other comprehensive income (loss)	2,569	2,477
Ending Balance	1,020,835	940,173
Common shares
Changes in shareholders' equity that are attributable to the Company's shareholders and to non controlling interests
Beginning Balance	$ 1,273	$ 1,262
Beginning Balance (shares)	122,472	121,318
Restricted stock granted	$ 18	$ 12
Restricted stock granted (shares)	1,784	1,248
Restricted stock canceled (shares)	(26)	(18)
Purchase of treasury shares (in shares)		(17)
Shares withheld for net settlements of share - based awards	$ (2)	$ (2)
Shares withheld for net settlements of share-based awards (shares)	(226)	(243)
Issuance of common stock - ESPP (shares)	7	15
Ending Balance	$ 1,289	$ 1,272
Ending Balance (shares)	124,011	122,303
Additional Paid-In Capital
Changes in shareholders' equity that are attributable to the Company's shareholders and to non controlling interests
Beginning Balance	$ 1,276,213	$ 1,262,267
Stock-based compensation expense	6,313	7,402
Restricted stock granted	(18)	(12)
Other adjustment to paid-in capital		153
Shares withheld for net settlements of share - based awards	(1,283)	(1,899)
Issuance of common stock - ESPP	43	116
Ending Balance	1,281,268	1,268,027
Distributions in Excess of Earnings
Changes in shareholders' equity that are attributable to the Company's shareholders and to non controlling interests
Beginning Balance	(175,960)	(222,892)
Dividends paid		(30,486)
Net income (loss)	38,219	50,544
Ending Balance	(137,741)	(202,834)
Accumulated Other Comprehensive Loss
Changes in shareholders' equity that are attributable to the Company's shareholders and to non controlling interests
Beginning Balance	(20,216)	(22,589)
Other comprehensive income (loss)	2,584	2,479
Ending Balance	(17,632)	(20,110)
Treasury shares
Changes in shareholders' equity that are attributable to the Company's shareholders and to non controlling interests
Beginning Balance	$ (105,099)	$ (104,946)
Beginning Balance (shares)	4,852	4,835
Purchase of treasury shares		$ (153)
Purchase of treasury shares (in shares)		17
Ending Balance	$ (105,099)	$ (105,099)
Ending Balance (shares)	4,852	4,852
Noncontrolling Interests
Changes in shareholders' equity that are attributable to the Company's shareholders and to non controlling interests
Beginning Balance	$ (1,195)	$ (1,020)
Net income (loss)	(40)	(61)
Other comprehensive income (loss)	(15)	(2)
Ending Balance	$ (1,250)	$ (1,083)

Shareholders' Equity - Additional Information (Details) - Prospectus Supplement - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Jun. 28, 2021
Class of Stock [Line Items]
Maximum common stock value authorized under prospectus supplement			$ 300
Shares sold (in shares)	0	0

Shareholders' Equity - Components of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Components of Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 976,211
Current-period other comprehensive income (loss)	2,584	$ 2,479
Ending balance	1,022,085
Foreign currency translation adjustments, net of tax
Components of Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(12,461)	(9,207)
Current-period other comprehensive income (loss)	440	(626)
Ending balance	(12,021)	(9,833)
Change in fair value of derivatives, net of tax
Components of Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(2,524)	(4,752)
Current-period other comprehensive income (loss)	2,464	2,949
Ending balance	(60)	(1,803)
Change in marketable securities, net of tax
Components of Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	7
Current-period other comprehensive income (loss)	(405)
Ending balance	(398)
Pension adjustments, net of tax
Components of Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(5,238)	(8,630)
Current-period other comprehensive income (loss)	85	156
Ending balance	(5,153)	(8,474)
Total
Components of Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(20,216)	(22,589)
Ending balance	$ (17,632)	$ (20,110)

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 55
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 4.E)
-URI http://asc.fasb.org/extlink&oid=122038336&loc=d3e74512-122707

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(31))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

+ Details

Equity Incentive Plans - Additional Information (Details) $ / shares in Units, $ in Millions		3 Months Ended
	Mar. 01, 2022 $ / shares shares	Mar. 31, 2022 USD ($) Metric shares	Mar. 31, 2021 USD ($)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grant date fair value (in dollars per share) \| $ / shares	$ 2.49
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility rate		48.03%
Expected term		5 years
Risk free interest rate		1.56%
Options granted (in shares)	340,000
Share based compensation expense \| $		$ 0.1	$ 0.2
Unrecognized compensation costs related to awards \| $		$ 1.4
Expected weighted average period to recognize expense		3 years 1 month 6 days
Restricted Stock Award
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility rate		57.50%
Risk free interest rate		1.45%
Share based compensation expense \| $		$ 6.2	$ 7.2
Unrecognized compensation costs related to awards \| $		$ 23.2
Expected weighted average period to recognize expense		2 years 2 months 12 days
Granted (in shares)		1,784,000
Performance measurement \| Metric		2
Beta		0.93
Restricted Stock Award \| Tranche One
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting rights (as percent)		50.00%
Performance period		3 years
Restricted Stock Award \| Tranche Two
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting rights (as percent)		50.00%
Performance period		3 years
Restricted Stock Award \| Tranche Three
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance period		1 year
Restricted Stock Award \| Certain Employees and Executive Officers
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted (in shares)		1,784,000
Restricted Stock Award \| Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period (in years)		3 years
Award vesting rights (as percent)		0.00%
Restricted Stock Award \| Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period (in years)		4 years
Award vesting rights (as percent)		200.00%
Market and Performance Shares \| Certain Employees and Executive Officers
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted (in shares)		975,000
Employee Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Discount on purchase of Common Stock for employee from the current market price		5.00%
Capital shares reserved for future issuance		750,000
Issuance of common stock (ESPP) (in shares)		7,210
2018 Stock Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Additional shares authorized		16,800,000

Equity Incentive Plans - Summary of Options Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Summary of the activity of stock option awards, shares
Options outstanding, Beginning Balance (in Shares)	1,847
Options granted (in shares)	340
Options forfeited/canceled/expired (in shares)	(83)
Options outstanding, Ending Balance (in Shares)	2,104	1,847
Options vested and expected to vest (in Shares)	1,996
Options exercisable (in Shares)	1,329
Summary of the activity of stock option awards, weighted average exercise price
Options outstanding, Beginning Balance, Wtd. Avg. Exercise Price (in dollars per share)	$ 19.92
Options granted, Wtd. Avg. Exercise Price (in dollars per share)	5.76
Options forfeited/canceled/expired, Wtd. Avg. Exercise Price (in dollars per share)	17.99
Options outstanding, Ending Balance, Wtd. Avg. Exercise Price (in dollars per share)	17.74	$ 19.92
Options vested and expected to vest, Wtd. Average Exercise Price (in dollars per share)	18.25
Options exercisable, Wtd. Avg. Exercise Price (in dollars per share)	$ 22.67
Options outstanding, Ending Balance, Wtd. Avg. Remaining Contractual Term	6 years 7 months 24 days	6 years 2 months 23 days
Options vested and expected to vest, Wtd. Avg Remaining Contractual Term	6 years 6 months 3 days
Options exercisable, Wtd. Avg. Remaining Contractual Term	5 years 3 months 7 days
Options outstanding, Average Intrinsic Value	$ 286	$ 73
Options vested and expected to vest at March 31, 2022	$ 238

Equity Incentive Plans - Summary of Restricted Stock Activity (Details) - Restricted Stock Award shares in Thousands	3 Months Ended
	Mar. 31, 2022 $ / shares shares
Summary of the activity of restricted stock
Restricted stock outstanding shares, Beginning Balance (in shares) \| shares	2,619
Granted (in shares) \| shares	1,784
Vested (in shares) \| shares	(735)
Forfeited/canceled (in shares) \| shares	(26)
Restricted stock outstanding shares, Ending Balance (in shares) \| shares	3,642
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Restricted stock outstanding Wtd. Avg. Grant Date Fair Value, Beginning Balance (in dollars per share) \| $ / shares	$ 12.53
Granted Wtd. Avg. Grant Date Fair Value (in dollars per share) \| $ / shares	6.02
Vested Wtd. Avg. Grant Date Fair Value (in dollars per share) \| $ / shares	17.01
Forfeited/Canceled Wtd. Avg. Grant Date Fair Value (in dollars per share) \| $ / shares	10.30
Restricted stock outstanding Wtd. Avg. Grant Date Fair Value, Ending Balance (in dollars per share) \| $ / shares	$ 8.26

Earnings Per Share - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Feb. 24, 2021
Stock Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	1,906,029	2,067,461
Restricted Stock Award
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	875,148	1,021,859
Common Shares Conversion Option Embedded in Convertible Notes
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	24,900,000	9,100,000
6.50% Exchangeable Senior Notes due 2026
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Stated interest rate	6.50%		6.50%	6.50%
Debt instrument, face amount				$ 230,000,000
Convertible Notes \| 6.50% Exchangeable Senior Notes due 2026
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Stated interest rate	6.50%			6.50%
Debt instrument, face amount				$ 230,000,000

Earnings Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share Basic And Diluted [Abstract]
Net income	$ 38,179	$ 50,483
Net loss attributable to noncontrolling interests	40	61
Less: Undistributed income allocable to participating securities	(6,542)	(1,420)
Net income attributable to The GEO Group, Inc. available to common stockholders	$ 31,677	$ 49,124
Basic earnings per share attributable to The GEO Group, Inc. available to common stockholders:
Weighted average shares outstanding	120,714	120,022
Per share amount - basic	$ 0.26	$ 0.41
Diluted earnings per share attributable to The GEO Group, Inc. available to common stockholders:
Weighted average shares outstanding	120,714	120,022
Dilutive effect of equity incentive plans	680	395
Weighted average shares assuming dilution	121,394	120,417
Per share amount - diluted	$ 0.26	$ 0.41

Derivative Financial Instruments - Additional Information (Details) - Interest Rate Swap $ in Millions	3 Months Ended
	Mar. 31, 2022 USD ($) Instrument
Derivative [Line Items]
Derivative, number of instruments held \| Instrument	2
Notional amount	$ 44.3
Derivative, fixed interest rate	4.22%
Change in fair value of derivative instrument classified as cash flow hedge	$ 2.5
Value of swap liability	$ 0.1

Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Line Of Credit Facility [Line Items]
Finance Lease Liabilities	$ 3,216	$ 3,843
Other debt, net	41,126	41,363
Total debt	2,951,619	2,944,360
Current portion of finance lease liabilities, long-term debt and non-recourse debt	(18,617)	(18,568)
Finance Lease Liabilities, long-term portion	(1,805)	(1,977)
Non-Recourse Debt, long-term portion	(304,724)	(297,856)
Long-Term Debt	2,626,473	2,625,959
Line of Credit
Line Of Credit Facility [Line Items]
Term loan	760,000	762,000
Unamortized debt issuance costs	(1,020)	(1,152)
Unamortized debt issuance costs on term loan	(2,419)	(2,733)
Revolver	786,466	784,895
Total Senior Credit Facility	1,543,027	1,543,010
Convertible Notes \| 6.50% Exchangeable Notes due 2026
Line Of Credit Facility [Line Items]
Unamortized debt issuance costs	(7,823)	(8,246)
Long-term debt, gross	230,000	230,000
Long-term debt	222,177	221,754
Senior Notes \| 6.00% Senior Notes due 2026
Line Of Credit Facility [Line Items]
Unamortized debt issuance costs	(2,943)	(3,099)
Long-term debt, gross	350,000	350,000
Long-term debt	347,057	346,901
Senior Notes \| 5.875% Senior Notes due 2024
Line Of Credit Facility [Line Items]
Unamortized debt issuance costs	(1,295)	(1,410)
Long-term debt, gross	225,293	225,293
Long-term debt	223,998	223,883
Senior Notes \| 5.125% Senior Notes due 2023
Line Of Credit Facility [Line Items]
Unamortized debt issuance costs	(1,056)	(1,221)
Long-term debt, gross	259,275	259,275
Long-term debt	258,219	258,054
Non Recourse Debt
Line Of Credit Facility [Line Items]
Unamortized debt issuance costs	(4,665)	(4,556)
Non-Recourse Debt	317,464	310,108
Total Non-Recourse Debt	$ 312,799	$ 305,552

Debt (Parenthetical) (Details)	3 Months Ended	12 Months Ended
Debt (Parenthetical) (Details)	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Feb. 24, 2021
6.00% Senior Notes due 2026
Line Of Credit Facility [Line Items]
Stated interest rate	6.00%	6.00%
5.875% Senior Notes due 2024
Line Of Credit Facility [Line Items]
Stated interest rate	5.875%	5.875%
5.125% Senior Notes due 2023
Line Of Credit Facility [Line Items]
Stated interest rate	5.125%	5.125%
Convertible Notes \| 6.50% Exchangeable Notes due 2026
Line Of Credit Facility [Line Items]
Stated interest rate	6.50%	6.50%		6.50%
Debt instrument maturity year	2026	2026
Senior Notes \| 6.00% Senior Notes due 2026
Line Of Credit Facility [Line Items]
Stated interest rate	6.00%	6.00%
Debt instrument maturity year	2026	2026
Senior Notes \| 5.875% Senior Notes due 2024
Line Of Credit Facility [Line Items]
Stated interest rate	5.875%	5.875%	5.875%
Debt instrument maturity year	2024	2024
Senior Notes \| 5.125% Senior Notes due 2023
Line Of Credit Facility [Line Items]
Stated interest rate	5.125%	5.125%	5.125%
Debt instrument maturity year	2023	2023

Debt (Amended Credit Agreement) (Details)		3 Months Ended
Debt (Amended Credit Agreement) (Details)	Jun. 12, 2019 USD ($)	Mar. 31, 2022 USD ($)	Mar. 31, 2022 AUD ($)	Dec. 31, 2021 USD ($)	Jun. 12, 2019 AUD ($)
Amended Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 100,000,000.0
Revolver
Debt Instrument [Line Items]
Revolver		786,500,000
Additional Revolver
Debt Instrument [Line Items]
Borrowing capacity remaining		16,700,000
Line of Credit
Debt Instrument [Line Items]
Revolver		786,466,000		$ 784,895,000
Term loan		$ 760,000,000		$ 762,000,000
Revolving Credit Facility \| Line of Credit \| Amended Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 900,000,000.0
Covenant, total leverage ratio, maximum	6.25				6.25
Senior secured leverage ratio	3.50				3.50
Interest coverage ratio	3.00				3.00
Weighted average interest rates on outstanding borrowings		2.70%	2.70%
Revolving Credit Facility \| Line of Credit \| Amended Credit Agreement \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	2.25%				2.25%
Variable rate, floor		0.00%	0.00%
Term Loan
Debt Instrument [Line Items]
Term loan		$ 760,000,000.0
Term Loan \| Line of Credit \| Amended Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 792,000,000.0
Term Loan \| Line of Credit \| Amended Credit Agreement \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	2.00%				2.00%
Variable rate, floor	0.75%				0.75%
Letter of credit
Debt Instrument [Line Items]
Long-term debt		96,800,000
Letter of credit \| Line of Credit \| Amended Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity		206,000,000.0			$ 275,000,000
Long-term debt		0
Letter of credit \| Line of Credit \| Bank Guarantee And Standby Sub Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 44,200,000	$ 59,000,000
Debt instrument agreement notice period		90 days
Revolver			$ 59,000,000
Accordion \| Line of Credit \| Amended Credit Agreement
Debt Instrument [Line Items]
Accordion feature, increase limit	$ 450,000,000.0

Debt (6.50% Exchangeable Notes) (Details) - USD ($)	3 Months Ended
Debt (6.50% Exchangeable Notes) (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Feb. 24, 2021
Debt Instrument [Line Items]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
5.875% Senior Notes due 2024
Debt Instrument [Line Items]
Stated interest rate	5.875%	5.875%
Convertible Notes \| 6.50% Exchangeable Notes due 2026
Debt Instrument [Line Items]
Debt instrument, face amount				$ 230,000,000
Stated interest rate	6.50%	6.50%		6.50%
Debt instrument, maturity date	Feb. 23, 2026
Debt instrument, payment terms	Interest on the notes is payable semi-annually in arrears on March 1 and September 1 of each year, beginning on September 1, 2021.
Debt instrument, commencement date of first required payment	Sep. 01, 2021
Debt instrument, frequency of payment	semi-annually
Debt exchange, description	Subject to certain restrictions on share ownership and transfer, holders may exchange the notes at their option prior to the close of business on the business day immediately preceding November 25, 2025, but only under the following circumstances: (1) during the five consecutive business day period after any five consecutive trading day period, or the measurement period, in which the trading price per $1,000 principal amount of notes for each trading day of such measurement period was less than 98% of the product of the last reported sale price of the Company’s common stock and the exchange rate for the notes on each such trading day; or (2) upon the occurrence of certain specified corporate events. On or after November 25, 2025, until the close of business on the second scheduled trading day immediately preceding the maturity date of the notes, holders may exchange their notes at any time, regardless of the foregoing circumstances. Upon exchange of a note, GEO will pay or deliver, as the case may be, cash or a combination of cash and shares of the Company’s common stock. As of March 31, 2022, conditions had not been met to exchange the notes.
Debt instrument, initial conversion rate per $1,000 principal amount	108.4011
Debt instrument, initial conversion price	$ 9.225
Percentage of principal amount of notes to be purchased	100.00%
Costs incurred in issuance, including initial purchasers discount			$ 9,600,000
Convertible Notes \| 6.50% Exchangeable Notes due 2026 \| Maximum
Debt Instrument [Line Items]
Percentage of trading price per $1,000 principal amount against last reported sale price and exchange rate of notes	98.00%
Convertible Notes \| 6.50% Exchangeable Notes due 2026 \| Over-Allotment Option
Debt Instrument [Line Items]
Debt instrument, face amount				$ 30,000,000
Senior Notes \| 5.875% Senior Notes due 2024
Debt Instrument [Line Items]
Stated interest rate	5.875%	5.875%	5.875%
Redemption of outstanding amount	$ 194,000,000.0
Write off of deferred loan costs to loss on extinguishment of debt	$ 700,000

Debt (6.00% Senior Notes) (Details)	Mar. 31, 2022	Dec. 31, 2021
6.00% Senior Notes due 2026
Debt Instrument [Line Items]
Stated interest rate	6.00%	6.00%

Debt (5.875% Senior Notes Due 2024) (Details)	Mar. 31, 2022	Dec. 31, 2021
5.875% Senior Notes due 2024
Debt Instrument [Line Items]
Stated interest rate	5.875%	5.875%

Debt (5.125% Senior Notes) (Details)	Mar. 31, 2022	Dec. 31, 2021
5.125% Senior Notes due 2023
Debt Instrument [Line Items]
Stated interest rate	5.125%	5.125%

Debt (Debt Repurchases) (Details) - USD ($)	3 Months Ended
Debt (Debt Repurchases) (Details) - USD ($)	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Debt Instrument [Line Items]
Repurchase amount	$ 0
Gain (loss) on extinguishment of debt, net		$ 3,038,000
5.125% Senior Notes due 2023
Debt Instrument [Line Items]
Stated interest rate	5.125%		5.125%
Amended Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 100,000,000.0
6.00% Senior Notes due 2026
Debt Instrument [Line Items]
Stated interest rate	6.00%		6.00%
Senior Notes and Term Loan
Debt Instrument [Line Items]
Debt instrument, repurchased face amount	On February 11, 2021, the Board authorized a new repurchase program for repurchases/retirements of the above referenced GEO Senior Notes and term loan, subject to certain limitations up to an aggregate maximum of $100.0 million through December 31, 2022.
5.875% Senior Notes due 2024
Debt Instrument [Line Items]
Stated interest rate	5.875%		5.875%
Senior Notes \| 5.125% Senior Notes due 2023
Debt Instrument [Line Items]
Stated interest rate	5.125%	5.125%	5.125%
Debt instrument, repurchased face amount		$ 3,000,000.0
Percentage of principal amount redeemed		89.38%
Repurchase amount		$ 2,700,000
Senior Notes \| 5.875% Senior Notes due 2022
Debt Instrument [Line Items]
Stated interest rate	5.875%
Senior Notes \| 6.00% Senior Notes due 2026
Debt Instrument [Line Items]
Stated interest rate	6.00%		6.00%
Senior Notes \| 5.875% Senior Notes due 2024
Debt Instrument [Line Items]
Stated interest rate	5.875%	5.875%	5.875%
Debt instrument, repurchased face amount		$ 17,200,000
Percentage of principal amount redeemed		79.51%
Repurchase amount		$ 13,700,000
Gain (loss) on extinguishment of debt, net		$ 3,000,000.0

Debt (Australia - Ravenhall) (Details)	3 Months Ended			12 Months Ended
Debt (Australia - Ravenhall) (Details)	Mar. 31, 2022 USD ($)	Mar. 31, 2022 AUD ($)	Mar. 31, 2021 USD ($)	Dec. 31, 2019 USD ($)	Mar. 31, 2022 AUD ($)	Dec. 31, 2021 USD ($)	May 22, 2019 AUD ($)
Debt Instrument [Line Items]
Payments on long-term debt	$ 2,881,000		$ 298,522,000
Gain (loss) on extinguishment of debt, net			$ 3,038,000
LIBOR
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate	2.00%	2.00%
Interest Rate Swap
Debt Instrument [Line Items]
Derivative, fixed interest rate	4.22%				4.22%
Non Recourse Debt
Debt Instrument [Line Items]
Debt issuance costs, net	$ 4,665,000					$ 4,556,000
Notes Payable, Other Payables
Debt Instrument [Line Items]
Long-term debt	44,300,000
Debt issuance costs, net	600,000
Ravenhall \| Non Recourse Debt
Debt Instrument [Line Items]
Gain (loss) on extinguishment of debt, net				$ (4,500,000)
Debt issuance costs, gross	7,500,000
Ravenhall \| Non Recourse Debt \| Construction Facility
Debt Instrument [Line Items]
Payments on long-term debt	232,200,000	$ 310,000,000
Ravenhall \| Non Recourse Debt \| Non Recourse Notes
Debt Instrument [Line Items]
Debt instrument, face amount	$ 345,800,000						$ 461,600,000
Stated interest rate	4.23%				4.23%
Ravenhall \| National Australia Bank Limited \| Non Recourse Debt \| Construction Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 592,600,000				$ 791,000,000
Debt instrument basis spread on variable rate	2.00%	2.00%

Debt - Guarantees (Details) - Ravenhall	Mar. 31, 2022 USD ($) Guarantee	Mar. 31, 2022 AUD ($) Guarantee
Debt Instrument [Line Items]
Number of letters of guarantee outstanding under separate international facilities relating to performance guarantees \| Guarantee	7	7
Letters of credit outstanding relating to performance guarantees \| $	$ 10,000,000.0
Letter of credit \| Revolver
Debt Instrument [Line Items]
Maximum exposure, undiscounted	$ 44,200,000	$ 59,000,000

Commitments, Contingencies and Other Matters - Additional Information (Details) $ in Millions			3 Months Ended
	Oct. 31, 2021 USD ($)	Sep. 09, 2017 Claim	Mar. 31, 2022 USD ($) facility Installment
Commitments and Contingencies [Line Items]
Loss contingency, judgement value	$ 23.2
Attorneys fees costs and interest amount	$ 12.7
Estimate of possible loss			$ 19.4
Number of deferred payment installment related to payroll taxes \| Installment			2
Deferred payment related to payroll taxes amount			$ 20.0
Estimated construction existing active capital projects cost			16.1
Cost already spent on existing active capital projects			5.7
Remaining capital required for existing active capital projects			$ 10.4
Number of marketed idle facilities \| facility			9
Pending Litigation \| Immigration Detainees Against Company
Commitments and Contingencies [Line Items]
Number of claims filed \| Claim		3
WASHINGTON \| Pending Litigation \| Immigration Detainees Against Company
Commitments and Contingencies [Line Items]
Number of claims filed \| Claim		2
CALIFORNIA \| Pending Litigation \| Immigration Detainees Against Company
Commitments and Contingencies [Line Items]
Number of claims filed \| Claim		1

Commitments, Contingencies and Other Matters - Summary of Idled Facilities and Respective Carrying Values (Details) - Property and Equipment, Net $ in Thousands	3 Months Ended
	Mar. 31, 2022 USD ($) bed
Commitments and Contingencies [Line Items]
Design Capacity \| bed	10,361
Net Carrying Value \| $	$ 272,424
Great Plains Correctional Facility \| Secure Services
Commitments and Contingencies [Line Items]
Design Capacity \| bed	1,940
Date Idled	2021
Net Carrying Value \| $	$ 67,863
D. Ray James Correctional Facility \| Secure Services
Commitments and Contingencies [Line Items]
Design Capacity \| bed	1,900
Date Idled	2021
Net Carrying Value \| $	$ 52,237
Rivers Correctional Facility \| Secure Services
Commitments and Contingencies [Line Items]
Design Capacity \| bed	1,450
Date Idled	2021
Net Carrying Value \| $	$ 39,197
Big Spring Correctional Facility \| Secure Services
Commitments and Contingencies [Line Items]
Design Capacity \| bed	1,732
Date Idled	2021
Net Carrying Value \| $	$ 35,105
Flightline Correctional Facility \| Secure Services
Commitments and Contingencies [Line Items]
Design Capacity \| bed	1,800
Date Idled	2021
Net Carrying Value \| $	$ 36,583
McFarland Female Community Reentry Facility \| Secure Services
Commitments and Contingencies [Line Items]
Design Capacity \| bed	300
Date Idled	2020
Net Carrying Value \| $	$ 11,334
Cheyenne Mountain Recovery Center \| Secure Services
Commitments and Contingencies [Line Items]
Design Capacity \| bed	750
Date Idled	2020
Net Carrying Value \| $	$ 17,002
Coleman Hall \| Reentry Services
Commitments and Contingencies [Line Items]
Design Capacity \| bed	350
Date Idled	2017
Net Carrying Value \| $	$ 8,040
Hector Garza Center \| Reentry Services
Commitments and Contingencies [Line Items]
Design Capacity \| bed	139
Date Idled	2020
Net Carrying Value \| $	$ 5,063

Business Segments and Geographic Information - Additional Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022 USD ($) Segment	Mar. 31, 2021 USD ($)	Dec. 31, 2021 USD ($)
Schedule Of Equity Method Investments [Line Items]
Number of reportable business segments \| Segment	4
Equity in earnings (losses) of affiliates, net of income tax provision	$ 1,235	$ 2,064
SACS
Schedule Of Equity Method Investments [Line Items]
Ownership percentage in entity	50.00%
Equity in earnings (losses) of affiliates, net of income tax provision	$ 800	900
Investment in joint venture	11,100		$ 10,300
GEO Amey
Schedule Of Equity Method Investments [Line Items]
Equity in earnings (losses) of affiliates, net of income tax provision	500	$ 1,100
Advances to affiliate	$ 9,500		$ 10,100

Business Segments and Geographic Information - Schedule of Operating and Reporting Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues:
Revenues	$ 551,185	$ 576,377
Operating income from segments:
Operating income from segments	130,086	114,109
General and Administrative Expenses	(48,560)	(48,479)
Operating income	81,526	65,630
Operating Segments
Revenues:
Revenues	551,185	576,377
Operating income from segments:
Operating income from segments	130,086	114,109
Operating Segments \| U.S. Secure Services
Revenues:
Revenues	351,245	387,011
Operating income from segments:
Operating income from segments	74,081	71,465
Operating Segments \| Electronic Monitoring and Supervision Services
Revenues:
Revenues	87,921	60,378
Operating income from segments:
Operating income from segments	38,920	25,477
Operating Segments \| Reentry Services
Revenues:
Revenues	61,431	75,104
Operating income from segments:
Operating income from segments	10,631	9,982
Operating Segments \| International Services
Revenues:
Revenues	50,588	53,884
Operating income from segments:
Operating income from segments	6,454	7,185
Segment Reconciling Items
Operating income from segments:
General and Administrative Expenses	$ (48,560)	$ (48,479)

Business Segments and Geographic Information - Schedule of Pre-Tax Income Reconciliation of Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Pre-Tax Income Reconciliation of Segments
Operating income from segments	$ 130,086	$ 114,109
Unallocated amounts:
General and Administrative Expenses	(48,560)	(48,479)
Net interest expense	(25,993)	(25,642)
Gain on extinguishment of debt		3,038
(Loss) gain on disposition of real estate	(627)	13,329
Income before income taxes and equity in earnings of affiliates	$ 54,906	$ 56,355

Benefit Plans - Additional Information (Details)		3 Months Ended
Benefit Plans - Additional Information (Details)	Jul. 01, 2021 USD ($)	Mar. 31, 2022 USD ($) Plan	Dec. 31, 2021 USD ($)
Deferred Compensation Arrangement With Individual Share Based Payments [Line Items]
Number of non-contributory defined benefit pension plans \| Plan		2
Period of average compensation for pension benefit computation		5 years
Long-term portion of the pension liability		$ 31,300,000	$ 31,500,000
Age limit for a lump sum payment		55 years
George C Zoley \| Amended And Restated Executive Retirement Agreement
Deferred Compensation Arrangement With Individual Share Based Payments [Line Items]
Deferred compensation arrangement with individual, cash payment	$ 3,600,000
Deferred compensation, interest rate on cash payment	5.00%
Deferred compensation arrangement with individual, employer contribution	$ 1,000,000
Deferred compensation, interest rate on employer contribution	5.00%
Deferred compensation arrangement with individual balance		$ 5,200,000

Benefit Plans - Components of Company Plan Benefit Expense (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Change in Projected Benefit Obligation
Projected benefit obligation, beginning of period	$ 31,830	$ 33,530	$ 33,530
Service cost	280	351	1,404
Interest cost	240	$ 319	1,274
Actuarial gain			(3,505)
Benefits paid	(224)		(873)
Projected benefit obligation, end of period	32,126		31,830
Change in Plan Assets
Company contributions	224		873
Benefits paid	(224)		(873)
Unfunded Status of the Plan	$ 32,126		$ 31,830

Benefit Plans - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Components of Net Periodic Benefit Cost
Service cost	$ 280	$ 351	$ 1,404
Interest cost	240	319	$ 1,274
Net loss	108	197
Net periodic pension cost	$ 628	$ 867

Subsequent Events - Additional Information (Details) $ in Millions	Apr. 19, 2022 USD ($)
Subsequent Events
Subsequent Event [Line Items]
Consideration from sale of company owned idled facility	$ 15