0001564590-21-006003 | 10-K | XBRL Viewer

Other comprehensive income

144,827

145,089

(262)

813

828

(15)

Balance, December 31, 2018 at Dec. 31, 2018

1,039,904

$ 1,248

1,210,916

(52,868)

$ (968)

(23,618)

$ 968

$ (95,175)

(599)

Ending Balance (in shares) at Dec. 31, 2018

120,585

4,210

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Proceeds from stock options exercised

1,258

Proceeds from stock options exercised (in shares)

Stock based compensation expense

22,344

Shares withheld for net settlements of share-based awards

^[1]

(4,179)

$ (2)

(4,177)

Shares withheld for net settlements of share-based awards (in shares)

^[1]

(198)

Restricted stock granted

$ 8

(8)

Restricted stock granted (in shares)

788

Restricted stock canceled (in shares)

(58)

Dividends - paid

(232,546)

Issuance of common stock (ESPP)

532

Issuance of common stock (ESPP) (in shares)

Other comprehensive income

166,412

166,603

(191)

3,291

2,315

Balance, December 31, 2018 at Dec. 31, 2019

$ 996,048

$ 1,254

1,230,865

(119,779)

(20,335)

$ (95,175)

(782)

Ending Balance (in shares) at Dec. 31, 2019

121,225

4,210

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Accounting Standards Update [Extensible List]

us-gaap:AccountingStandardsUpdate201802Member

Other comprehensive income (loss)

$ 2,323

Stock based compensation expense

23,896

Shares withheld for net settlements of share-based awards

^[1]

(2,789)

$ (1)

(2,788)

Shares withheld for net settlements of share-based awards (in shares)

^[1]

(174)

Restricted stock granted

$ 9

(9)

Restricted stock granted (in shares)

900

Restricted stock canceled (in shares)

(58)

Dividends - paid

(216,145)

Other adjustments to Additional Paid-In-Capital

^[4]

9,687

Purchase of treasury shares

(9,771)

$ (9,771)

Purchase of treasury shares (in shares)

(625)

625

Issuance of common stock (ESPP)

616

Issuance of common stock (ESPP) (in shares)

Other comprehensive income

112,831

113,032

(201)

(2,291)

(2,254)

(37)

Balance, December 31, 2018 at Dec. 31, 2020

$ 912,082

$ 1,262

$ 1,262,267

$ (222,892)

$ (22,589)

$ (104,946)

$ (1,020)

Ending Balance (in shares) at Dec. 31, 2020

121,318

4,835

[1]	During the years ended December 31, 2020, 2019 and 2018, the Company withheld shares through net share settlements to satisfy statutory tax withholding requirements upon vesting of shares of restricted stock held by employees.
[2]	Represents a cumulative-effect adjustment upon adoption of ASU No. 2016-16, "Income Taxes - Intra-Entity Transfers of Assets Other Than Inventory." Refer to Note 1 - Summary of Business Organization, Operations and Significant Accounting Policies - Recent Accounting Pronouncements for further information.
[3]	On January 1, 2019, the Company adopted Accounting Standard Update ("ASU") No. 2018-02 "Income Statement-Reporting Comprehensive Income-Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income". Refer to Note 1 - Summary of Business Organization, Operations and Significant Accounting Policies - Recent Accounting Pronouncements for further information.
[4]	ON February 26, 2020 (the “Effective Date”), the Company and its Chief Executive Officer (“CEO”) entered into an amended and restated executive retirement agreement that amends the CEO’s executive retirement agreement. The amended and restated executive retirement agreement provides that upon the CEO’s retirement from the Company, the Company will pay a lump sum equal to $8,925,065 (the “Grandfathered Payment”) which will be paid in the form of a fixed number of shares of the Company’s common stock The fair value of the Grandfathered Payment was reclassified to stockholders’ equity. Additional shares of the Company’s common stock are credited with a value equal to any dividends declared and paid on the Company’s shares of common stock. Refer to Note 14 – Benefit Plans for further information.

Consolidated Statements of Shareholders' Equity (Parenthetical)	Feb. 26, 2020 USD ($)
Common Stock
Deferred compensation arrangement with individual, value of shares issued	$ 8,925,065

Summary of Business Organization, Operations and Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Summary of Business Organization, Operations and Significant Accounting Policies

1.	Summary of Business Organization, Operations and Significant Accounting Policies

The GEO Group, Inc., a Florida corporation, and subsidiaries (the “Company” or “GEO”) is a fully-integrated real estate investment trust (“REIT”) specializing in the ownership, leasing and management of secure facilities, processing centers and reentry centers in the United States, Australia, South Africa and the United Kingdom. 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' platform 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 offender and detainee populations as contracted domestically and in the United Kingdom through its joint venture GEOAmey PECS Ltd. (“GEOAmey”). As of December 31, 2020, GEO's worldwide operations included the ownership and/or management of approximately 93,000 beds at 118 secure and community services facilities, including idle facilities and projects under development, and also includes the provision of community supervision services for more than 210,000 offenders and pretrial defendants, including more than 100,000 individuals through an array of technology products including radio frequency, GPS, and alcohol monitoring devices.

GEO, which has been in operation since 1984, began operating as a REIT for federal income tax purposes effective January 1, 2013. As a result of the REIT conversion, GEO reorganized its operations and moved non-real estate components into taxable REIT subsidiaries (“TRSs”). Through the TRS structure, the portion of GEO's businesses which are non-real estate related, such as its managed-only contracts, international operations, electronic monitoring services, and other non-residential and community based facilities, are part of wholly-owned taxable subsidiaries of the REIT. Most of GEO's business units, which are real estate related and involve company-owned and company-leased facilities, are part of the REIT. The TRS structure allows the Company to maintain the strategic alignment of all of its diversified business segments under one entity. The TRS assets and operations will continue to be subject to federal and state corporate income taxes and to foreign taxes as applicable in the jurisdictions in which those assets and operations are located.

The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America. The significant accounting policies of the Company are described below.

Risks and uncertainties

Executive Order

On January 26, 2021, President Biden signed an Executive Order directing the United States Attorney General not to renew DOJ contracts with privately operated criminal detention facilities, as consistent with applicable law. Two agencies of the DOJ, the BOP and USMS, utilize GEO’s 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. GEO’s contracts with the BOP for its company-owned 1,940-bed Great Plains Correctional Facility, company-owned 1,732-bed Big Spring Correctional Facility, company-owned 1,800-bed Flightline Correctional Facility, and company-owned 1,800-bed North Lake Correctional Facility have renewal option periods that expire on May 31, 2021, November 30, 2021, November 30, 2021, and September 30, 2022, respectively. Additionally, the contracts with the BOP for the county owned and managed 1,800-bed Reeves County Detention Center I & II and the 1,376-bed Reeves County Detention Center III have renewal option periods that expire September 30, 2022 and June 30, 2022, respectively. The Company has a management agreement with Reeves County, Texas for the management oversight of these two county-owned facilities. In total, the Great Plains, Big Spring, Flightline, Northlake Correctional Facilities, Reeves County Detention Center I & II and Reeves County Detention Center III generated approximately $145 million in revenues during the year ended December 31, 2020. The BOP has experienced a decline in federal prison populations over the last several years, a trend that has more recently been accelerated by the COVID-19 global pandemic. As a result of the Executive Order and the decline in federal prison populations, the Company expects that its above described contracts with the BOP may not be renewed over the coming years. With respect to the USMS, the agency may determine to conduct a review of the possible application of the Executive Order on its facilities.

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. During the year ended December 31, 2020, the Company did incur significant disruption 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, shelter in-place restrictions 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. Starting in late March and early April, the Company began to observe negative impacts from the pandemic on its performance in its secure services business, specifically with its U.S. Immigration and Customs Enforcement (“ICE”) Processing Centers and U.S. Marshals Facilities, as a result of declines in crossings and apprehensions along the Southwest border and a decrease in court sentencing at the federal level. Various governmental agencies have also taken steps to decrease the number of those in custody to adhere to social distancing protocols. Additionally, its reentry services business conducted through its GEO Care business segment has also been negatively impacted, specifically its residential reentry centers and non-residential day reporting programs were impacted by declines in programs due to lower levels of referrals by federal, state and local agencies. Additionally, the Company has experienced the transmission of COVID-19 among detainees and staff at most of its facilities during 2020 and continuing into the first quarter of 2021. 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.

Consolidation

The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. The equity method of accounting is used for investments in non-controlled affiliates in which the Company’s ownership ranges from 20 to 50 percent, or in instances in which the Company is able to exercise significant influence but not control. The Company reports South Africa Custodial Services ("SACS") and its 50% owned joint venture in the United Kingdom, GEOAmey, under the equity method of accounting. Noncontrolling interests in consolidated entities represent equity that other investors have contributed to South Africa Custodial Management ("SACM"). Non-controlling interests are adjusted for income and losses allocable to the other shareholders in these entities. All significant intercompany balances and transactions have been eliminated.

Reclassifications

Certain amounts in the prior period financial statements have been reclassified to conform to the presentation of the current period financial statements. These reclassifications had no effect on the previously reported results of operations.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company’s significant estimates include reserves for self-insured retention related to general liability insurance, workers’ compensation insurance, projected undiscounted cash flows used to evaluate asset impairment, estimated fair values of business acquisitions, pension assumptions, percentage of completion and estimated cost to complete for construction projects, and stock based compensation. These estimates and assumptions affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. While the Company believes that such estimates are reasonable when considered in conjunction with the consolidated financial statements taken as a whole, the actual amounts of such estimates, when known, will vary from these estimates. If actual results significantly differ from the Company’s estimates, the Company’s financial condition and results of operations could be materially impacted.

Dividends

As a REIT, the Company is required to distribute annually at least 90% of its REIT taxable income (determined without regard to the dividends paid deduction and by excluding net capital gain). The amount, timing and frequency of future distributions, however, will be at the sole discretion of the Company's Board of Directors and will be declared based upon various factors, many of which are beyond the Company's control, including, the Company's financial condition and operating cash flows, the amount required to maintain REIT status and reduce any income and excise taxes that the Company otherwise would be required to pay, limitations on distributions in the Company's existing and future debt instruments, limitations on the Company's ability to fund distributions using cash generated through our TRSs and other factors that the Company's Board of Directors may deem relevant. The Company began paying regular REIT distributions in 2013. Refer to Note 2- Shareholders’ Equity.

A REIT is not permitted to retain earnings and profits accumulated during the years it was taxed as a C corporation or earnings and profits accumulated by its subsidiaries that have been converted to qualified REIT subsidiaries, and must make one or more distributions to shareholders that equal or exceed these accumulated amounts by the end of the first REIT year. Earnings and profits, which determine the taxability of distributions to shareholders, will differ from net income reported for financial reporting purposes due to the differences in the treatment of gains and losses, revenue and expenses, and depreciation for financial reporting relative to federal income tax purposes.

Cash and Cash Equivalents

Cash and cash equivalents include all interest-bearing deposits or investments with original maturities of three months or less when purchased. The Company maintains cash and cash equivalents with various financial institutions. These financial institutions are located throughout the United States, Australia, South Africa and the United Kingdom. As of December 31, 2020 and 2019, the Company had $24.3 million and $20.6 million in cash and cash equivalents held by its international subsidiaries, respectively.

Concentration of Credit Risk

The Company maintains deposits of cash in excess of federally insured limits with certain financial institutions and accordingly the Company is subject to credit risk. Other than cash, financial instruments that potentially subject the Company to concentrations of credit risk consist principally of trade accounts receivable, contract receivable, long-term debt and financial instruments used in hedging activities. The Company’s cash management and investment policies restrict investments to low-risk, highly liquid securities, and the Company performs periodic evaluations of the credit standing of the financial institutions with which it deals.

Accounts Receivable

Accounts receivable consists primarily of trade accounts receivable due from federal, state, local and international government agencies for operating and managing secure facilities, providing youth and community-based services, providing electronic monitoring and supervision services, providing construction and design services and providing residential and transportation services. The Company generates receivables with its governmental clients and with other parties in the normal course of business as a result of billing and receiving payment. The Company regularly reviews outstanding receivables, and provides for estimated losses through an allowance for doubtful accounts. In evaluating the level of established loss reserves, the Company makes judgments regarding its customers’ ability to make required payments, economic events and other factors. As the financial condition of these parties change, circumstances develop or additional information becomes available, adjustments to the allowance for doubtful accounts may be required. The Company also performs ongoing credit evaluations for some of its customers’ financial conditions and generally does not require collateral. Generally, the Company receives payment for these services thirty to sixty days in arrears. However, certain of the Company’s accounts receivable are paid by customers after the completion of their program year and therefore can be aged in excess of one year. The Company maintains reserves for potential credit losses, and such losses traditionally have been within its expectations. Actual write-offs are charged against the allowance when collection efforts have been unsuccessful. As of December 31, 2020 and 2019, $0.3 million and $0.4 million, respectively, of the Company's trade receivables were considered to be long-term and are classified as Other Non-Current Assets in the accompanying Consolidated Balance Sheets.

Contract Receivable

The Company's Australian subsidiary has recorded a contract receivable in connection with the construction of a 1,300-bed detention facility in Ravenhall, Australia for the State of Victoria. The contract receivable represents costs incurred and estimated earnings in excess of billings and is recorded at net present value based on the timing of expected future settlement. Refer to Note 6 - Contract Receivable for further information.

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:

	December 31, 2020			December 31, 2019			December 31, 2018
Cash and Cash Equivalents	$	283,524		$	32,463		$	31,255
Restricted cash and cash equivalents - current		26,740			32,418			51,678
Restricted cash and investments - non-current		37,338			30,923			22,431
Less Restricted investments - non-current		(35,749	)		(28,332	)		(20,892	)
Total cash, cash equivalents and restricted cash and cash equivalents shown in the statement of cash flows	$	311,853		$	67,472		$	84,472

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 employee and employer contributions to The GEO Group, Inc. Non-qualified Deferred Compensation Plan and is not considered to be a restricted cash equivalent. Refer to Note 9 - Financial Instruments.

Prepaid expenses and Other Current Assets

Prepaid expenses and other current assets include assets that are expected to be realized within the next fiscal year. Included in the balance at December 31, 2019 is approximately $3.3 million of federal, state and international tax overpayments that were applied against tax payments in 2020. There were no significant federal, state or international tax overpayments included in the balance at December 31, 2020.

Property and Equipment

Property and equipment are stated at cost, less accumulated amortization and depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the related assets. Buildings and improvements are depreciated over 2 to 50 years. Equipment and furniture and fixtures are depreciated over 3 to 10 years. Leasehold improvements are amortized on a straight-line basis over the shorter of the useful life of the improvement or the term of the lease. The Company performs ongoing evaluations of the estimated useful lives of the property and equipment for depreciation purposes. The estimated useful lives are determined and continually evaluated based on the period over which services are expected to be rendered by the asset. If the assessment indicates that assets will be used for a longer or shorter period than previously anticipated, the useful lives of the assets are revised, resulting in a change in estimate. The Company has not made any such changes in estimates during the years ended December 31, 2020, 2019 and 2018. Maintenance and repairs are expensed as incurred. Interest is capitalized in connection with the construction of company-owned secure facilities. Cost for self-constructed secure facilities includes direct materials and labor, capitalized interest and certain other indirect costs associated with construction of the facility, such as property taxes, other indirect labor and related benefits and payroll taxes. The Company begins the capitalization of costs during the pre-construction phase, which is the period during which costs are incurred to evaluate the site, and continues until the facility is substantially complete and ready for occupancy. Labor costs capitalized for the years ended December 31, 2020, 2019 and 2018 were not significant. Capitalized interest is recorded as part of the asset to which it relates and is amortized over the asset’s estimated useful life. Refer to Note 5 - Property and Equipment.

Assets Held for Sale

As of December 31, 2020, the Company had four properties classified as held for sale included in its U.S Secure Services and GEO Care segments in the accompanying consolidated balance sheet. The Company classifies a long-lived asset (disposal group) as held for sale in the period in which all of the following criteria are met (i) Management, having the authority to approve the action, commits to a plan to sell the asset (disposal group), (ii) the asset (disposal group) is available for immediate sale in its present condition subject only to the terms that are usual and customary for sales of such assets (disposal groups), (iii) an active program to locate a buyer and other actions required to complete the plan to sell the asset (disposal group) have been initiated, (iv) the sale of the asset (disposal group) is probable, and transfer of the asset (disposal group) is expected to qualify for recognition as a completed sale, within one year, except as permitted, (v) the asset (disposal group) is being actively marketed for sale at a price that is reasonable in relation to its current fair value, and (vi) actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. The Company records assets held for sale at the lower of cost or estimated fair value and estimates fair value by using third party appraisers or other valuation techniques. The Company does not record depreciation for assets held for sale. Any gain or loss on the sale of operating assets is included in the operating income of the reportable segment to which it relates.

The properties that are classified as held for sale at December 31, 2020 are a parcel of undeveloped land in Hobart, Indiana, one idle Secure facility, one idle reentry facility acquired from Community Education Centers (“CEC”) and one idle youth facility. At December 31, 2020, the aggregate carrying values of these properties was approximately $9.1 million. At December 31, 2019, the Company had four properties that were classified as held for sale which consisted of a parcel of undeveloped land in Hobart, Indiana two idle reentry facilities acquired from CEC and one idle youth facility. At December 31, 2019, the aggregate carrying value of the properties was approximately $6.1 million.

Asset Impairments

The Company had property and equipment, net of $2.1 billion and $2.1 billion as of December 31, 2020 and 2019, respectively, including approximately 990 vacant beds with a net book value of approximately $24 million at December 31, 2020 at two of its idle facilities in the Secure Services segment that it is currently marketing to potential customers. Also, in its GEO Care segment, the Company is currently marketing approximately 1,100 vacant beds with a net book value of approximately $26 million at December 31, 2020 at two of its idle facilities to potential customers. Refer to Risks and Uncertainties – Executive Order above for a discussion of recent developments.

The Company reviews long-lived assets to be held and used for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be fully recoverable. Events that would trigger an impairment assessment include deterioration of profits for a business segment that has long-lived assets, or when other changes occur that might impair recovery of long-lived assets such as the termination of a management contract or a prolonged decrease in population. If impairment indicators are present, the Company performs a recoverability test to determine whether or not an impairment loss should be measured.

The Company tests idle facilities for impairment upon notification that the facilities will no longer be utilized by the customer. If a long-lived asset is part of a group that includes other assets, the unit of accounting for the long-lived asset is its group. Generally, the Company groups assets by facility for the purpose of considering whether any impairment exists. The estimates of recoverability are based on projected undiscounted cash flows associated with actual marketing efforts where available or, in other instances, projected undiscounted cash flows that are comparable to historical cash flows from management contracts at similar facilities and sensitivity analyses that consider reductions to such cash flows. The Company's sensitivity analyses include adjustments to projected cash flows compared to the historical cash flows due to current business conditions which impact per diem rates as well as labor and other operating costs, changes related to facility mission due to changes in prospective clients, and changes in projected capacity and occupancy rates. The Company also factors in prolonged periods of vacancies as well as the time and costs required to ramp up facility population once a contract is obtained. The Company performs the impairment analysis on an annual basis for each of the idle facilities and takes into consideration updates each quarter for market developments affecting the potential utilization of each of the facilities in order to identify events that may cause the Company to reconsider the most recent assumptions. Such events could include negotiations with a prospective customer for the utilization of an idle facility at terms significantly less favorable than the terms used in the Company's most recent impairment analysis, or changes in legislation surrounding a particular facility that could impact the Company's ability to house certain types of individuals at such facility. Further, a substantial increase in the number of available beds at other facilities the Company owns, or in the marketplace, could lead to deterioration in market conditions and projected cash flows. Although they are not frequently received, an unsolicited offer to purchase any of the Company's idle facilities, at amounts that are less than their carrying value could also cause the Company to reconsider the assumptions used in the most recent impairment analysis. The Company has identified marketing prospects to utilize each of the remaining currently idled facilities and has determined that no current impairment exists. However, the Company can provide no assurance that it will be able to secure management contracts to utilize its idle facilities, or that it will not incur impairment charges in the future. In all cases, except for one of its leased facilities, the projected undiscounted cash flows in our analysis as of December 31, 2020 substantially exceeded the carrying amounts of each facility. With respect to the leased facility where the projected undiscounted cash flows of the facility did not exceed the carrying amount, the Company recorded an impairment charge of approximately $5.7 million during the year ended December 31, 2020.

The Company's evaluations also take into consideration historical experience in securing new facility management contracts to utilize facilities that had been previously idled for periods comparable to or in excess of the periods the Company's currently idle facilities have been idle. Such previously idled facilities are currently being operated under contracts that generate cash flows resulting in the recoverability of the net book value of the previously idled facilities by substantial amounts. Due to a variety of factors, the lead time to negotiate contracts with federal and state agencies to utilize idle bed capacity is generally lengthy which has historically resulted in periods of idleness similar to the ones the Company is currently experiencing.

By their nature, these estimates contain uncertainties with respect to the extent and timing of the respective cash flows due to potential delays or material changes to forecasted terms and conditions in contracts with prospective customers that could impact the estimate of projected cash flows. Notwithstanding the effects the current economy has had on the Company's customers' for available beds in the short term which has led to its decision to idle certain facilities, the Company believes the long-term trends favor an increase in the utilization of its idle facilities. This belief is also based on the Company's experience in working with governmental agencies faced with significant budgetary challenges which is a primary contributing factor to the lack of appropriated funding to build new bed capacity by federal and state agencies.

Assets Held under Finance Leases

Assets held under finance leases are recorded at the lower of the net present value of the minimum lease payments or the fair value of the leased asset at the inception of the lease. Amortization expense is recognized using the straight-line method over the shorter of the estimated useful life of the asset or the term of the related lease and is included in depreciation expense.

Goodwill and Other Intangible Assets, Net

Goodwill

The Company has recorded goodwill as a result of its business combinations. Goodwill is recorded as the difference, if any, between the aggregate consideration paid for an acquisition and the fair value of the net tangible assets and other intangible assets acquired. The Company's goodwill is not amortized and is tested for impairment annually on the first day of the fourth quarter, and whenever events or circumstances arise that indicate impairment may have occurred. Impairment testing is performed for all reporting units that contain goodwill. The reporting units are the same as the reportable segment for U.S. Secure Services and are at the operating segment level for GEO Care.

On the annual measurement date of October 1, 2020, the Company's management elected to qualitatively assess the Company's goodwill for impairment for all of its reporting units except for its community based reporting unit which was assessed using a quantitative analysis. Under provisions of the qualitative analysis, when testing goodwill for impairment, the Company first assesses qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing the totality of events or circumstances, the Company determines it is more likely than not that the fair value of a reporting unit is less than its carrying amount, the Company performs a quantitative impairment test to identify goodwill impairment and measures the amount of goodwill impairment loss to be recognized, if any. The qualitative factors used by the Company’s management to determine the likelihood that the fair value of the reporting unit is less than the carrying amount include, among other things, a review of overall economic conditions and their current and future impact on the Company’s existing business, the Company’s financial performance and stock price, industry outlook and market competition. With respect to the qualitative assessments, management determined that, as of October 1, 2020, it was more likely than not that the fair values of the reporting units exceeded their carrying values. With respect to the quantitative analysis performed, the Company used a third-party valuation firm to determine the estimated fair value of the reporting unit using a discounted cash flow model. A discount rate of 10% was utilized to adjust the cash flow forecasts based on the Company’s estimate of a market participant’s weighted-average cost of capital. Growth rates for sales and profits were determined using inputs from the Company’s long-term planning process. The Company also makes estimates for discount rates and other factors based on market conditions, historical experience and other economic factors. Changes in these factors could significantly impact the fair value of the reporting unit. With respect to the community based reporting unit that was assessed quantitatively, management determined that the carrying value exceeded its fair value due to future declines in cash flow projections primarily due to the negative impact of the COVID-19 pandemic on the Company’s reentry facilities. As such, the Company recorded a goodwill impairment charge of $21.1 million during the year ended December 31, 2020. A change in one or combination of the assumptions discussed above could impact the estimated fair value of the reporting unit. If the Company’s expectations of future results and cash flows decrease significantly or other economic conditions deteriorate, goodwill may be further impaired. See Note 8 – Goodwill and Other Intangible Assets, Net for further discussion.

Other Intangible Assets, Net

The Company has also recorded other finite and indefinite lived intangible assets as a result of previously completed business combinations. Other acquired finite and indefinite lived intangible assets are recognized separately if the benefit of the intangible asset is obtained through contractual or other legal rights, or if the intangible asset can be sold, transferred, licensed, rented or exchanged, regardless of the Company’s intent to do so. The Company’s intangible assets include facility management contracts, trade names and technology. The facility management contracts represent customer relationships in the form of management contracts acquired at the time of each business combination; the value of BI’s and Protocol Criminal Justice, Inc.'s ("Protocol") trade names represent, among other intangible benefits, name recognition to its customers and intellectual property rights; and the acquired technology represents BI’s innovation with respect to its GPS tracking, monitoring, radio frequency monitoring, voice verification monitoring and alcohol compliance systems, Protocol's innovation with respect to its customer relationship management software and Soberlink, Inc.'s innovation with respect to its alcohol monitoring devices. When establishing useful lives, the Company considers the period and the pattern in which the economic benefits of the intangible asset are consumed or otherwise used up; or, if that pattern cannot be reliably determined, using a straight-line amortization method over a period that may be shorter than the ultimate life of such intangible asset. The Company also considers the impact of renewal terms when establishing useful lives. The Company currently amortizes its acquired facility management contracts over periods ranging from three to twenty-one years and its acquired technology over seven years to eight years. There is no residual value associated with the Company’s finite-lived intangible assets. The Company reviews its trade name assets for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be fully recoverable. The Company does not amortize its indefinite lived intangible assets. The Company reviews its indefinite lived intangible assets annually or more frequently if events or changes in circumstances indicate that the asset might be impaired. These reviews resulted in no impairment to the carrying value of the indefinite lived intangible assets for all periods presented. The Company records the costs associated with renewal and extension of facility management contracts as expenses in the period they are incurred.

Internal-Use Software

Costs incurred to develop software for internal use are capitalized and amortized over the estimated useful lives of the software. Costs related to design or maintenance of internal-use software are expensed as incurred. As of December 31, 2020 and 2019, included in Property and Equipment, Net is approximately $12.2 million and $14.2 million of capitalized internal-use software costs, respectively.

Debt Issuance Costs

Debt issuance costs, net of accumulated amortization of $43.4 million and $37.0 million, totaling $24.5 million and $30.5 million at December 31, 2020 and 2019, respectively, are included in Long-Term Debt, Non-Recourse Debt and Other Non-Current Assets in the accompanying Consolidated Balance Sheets and are amortized to interest expense using the effective interest method over the term of the related debt.

Variable Interest Entities

The Company evaluates its joint ventures and other entities in which it has a variable interest (a “VIE”), generally in the form of investments, loans, guarantees, or equity in order to determine if it has a controlling financial interest and is required to consolidate the entity as a result. The reporting entity with a variable interest that provides the entity with a controlling financial interest in the VIE will have both of the following characteristics: (i) the power to direct the activities of a VIE that most significantly impact the VIE's economic performance and (ii) the obligation to absorb the losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE.

The Company does not consolidate its 50% owned South African joint venture interest in SACS, a VIE. SACS joint venture investors are GEO and Kensani Corrections, Pty. Ltd (an independent third party); each partner owns a 50% share. The Company has determined it is not the primary beneficiary of SACS since it does not have the power to direct the activities of SACS that most significantly impact its performance. As such, the Company's investment in this entity is accounted for under the equity method of accounting. SACS was established and subsequently, in 2001, was awarded a 25-year contract to design, finance and build the Kutama Sinthumule Correctional Centre in Louis Trichardt, South Africa. To fund the construction of the prison, SACS obtained long-term financing from its equity partners and lenders, the repayment of which is fully guaranteed by the South African government, except in the event of default, in which case the government guarantee is reduced to 80%. The Company's maximum exposure for loss under this contract is limited to its investment in the joint venture of approximately $11 million at December 31, 2020.

The Company does not consolidate its 50% owned joint venture in the United Kingdom. In February 2011, GEO UK, executed a Shareholders Agreement (the “Shareholders Agreement”) with Amey Community Limited (“Amey”) and Amey UK PLC (“Amey Guarantor”) to form GEOAmey, a private company limited by shares incorporated in England and Wales. GEOAmey was formed by GEO UK and Amey (an independent third party) for the purpose of performing prisoner escort and related custody services in England, Wales and Scotland. In order to form this private company, GEOAmey issued share capital of £100 divided into 100 shares of £1 each and allocated the shares 50/50 to GEO UK and Amey. GEO UK and Amey each have three directors appointed to the Board of Directors and neither party has the power to direct the activities that most significantly impact the performance of GEOAmey. As such, the Company's investment in this entity is accounted for under the equity method of accounting. Both parties provided lines of credit of £12.0 million to ensure that GEOAmey could comply with future contractual commitments related to the performance of its operations. In October 2018, the note receivable to each joint venture partner was paid off in full.

Fair Value Measurements

The Company defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (“exit price”). The Company carries certain of its assets and liabilities at fair value, measured on a recurring basis, in the accompanying Consolidated Balance Sheets. The Company also has certain assets and liabilities which are not carried at fair value in its accompanying Consolidated Balance Sheets and discloses the fair value measurements compared to the carrying values as of each balance sheet date. The Company’s fair value measurements are disclosed in Note 9 - Financial Instruments and Note 10 - Fair Value of Assets and Liabilities. The Company establishes fair value of its assets and liabilities using a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels which distinguish between assumptions based on market data (observable inputs) and the Company’s assumptions (unobservable inputs). The level in the fair value hierarchy within which the respective fair value measurement falls is determined based on the lowest level input that is significant to the measurement in its entirety. Level 1 inputs are quoted market prices in active markets for identical assets or liabilities. Level 2 inputs are other than quotable market prices included in Level 1 that are observable for the asset or liability either directly or indirectly through corroboration with observable market data. Level 3 inputs are unobservable inputs for the assets or liabilities that reflect management’s own assumptions about the assumptions market participants would use in pricing the asset or liability. The Company recognizes transfers between Levels 1, 2 and 3 as of the actual date of the event or change in circumstances that cause the transfer.

Revenue Recognition

Revenue is recognized when control of the promised goods or services is transferred to GEO's customers, in an amount that reflects the consideration GEO expects to be entitled to in exchange for those goods or services. Sales, value added and other taxes GEO collects concurrent with revenue producing activities and that are subsequently remitted to governmental authorities are excluded from revenues. The guidance distinguishes between goods and services. The definition of services under the guidance includes everything other than goods. As such, in the case of GEO, this guidance views the provision of housing as a service.

When a contract includes variable consideration, GEO determines an estimate of the variable consideration and evaluates whether the estimate needs to be constrained; therefore, GEO includes the variable consideration in the transaction price only to the extent that it is probable that a significant reversal of the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. Variable consideration estimates are updated at each reporting date. A limited number of GEO's domestic contracts have provisions upon which a small portion of the revenue for the contract is based on the performance of certain targets. Domestically, revenue based on the performance of certain targets is less than 1% of the Company's consolidated domestic revenues

and was not significant during the periods presented. One of GEO's international contracts, related to its Ravenhall facility (discussed further below), contains a provision where a significant portion of the revenue for the contract is based on the performance of certain targets. These performance targets are based on specific criteria to be met over specific periods of time. Such criteria includes the Company's ability to achieve certain contractual benchmarks relative to the quality of service it provides, non-occurrence of certain disruptive events, effectiveness of its quality control programs and its responsiveness to customer requirements. The performance of these targets are measured quarterly and there was no significant constraint on the estimate of such variable consideration for this contract during the years ended December 31, 2020 and 2019.

GEO does not disclose the value of unsatisfied performance obligations for (i) contracts with an expected length of one year or less and (ii) contracts for which revenue is recognized at the amount to which GEO has the right to invoice for services performed, which is generally the case for all of GEO's contracts. Incidental items that are immaterial in the context of the contract are recognized as expense. GEO generally does not incur incremental costs related to obtaining a contract with its customers that would meet the requirement for capitalization. There were no assets recognized from costs to obtain a contract with a customer at December 31, 2020 or 2019.

The timing of revenue recognition may differ from the timing of invoicing to customers. GEO records a receivable when services are performed which are due from its customers based on the passage of time. GEO records a contract liability if consideration is received in advance of the performance of services. Generally, GEO's customers do not provide payment in advance of the performance of services. Therefore, any contract liability is not significant at December 31, 2020 or 2019. Revenue recognized during the years ended December 31, 2020 and 2019 that was included in the opening balance of unearned revenue was not significant. There have been no significant amounts of revenue recorded in the periods presented from performance obligations either wholly or partially satisfied in prior periods.

The right to consideration under GEO's contracts is only dependent on the passage of time and is therefore considered to be unconditional. Payment terms and conditions vary by contract type, although, with the exception of the contract receivable related to GEO's Ravenhall facility (further discussed below), terms generally include a requirement of payment within 30 days after performance obligations are satisfied and generally do not include a significant financing component. There have been no significant changes in receivables or unearned revenue balances during the periods other than regular invoicing and collection activity.

The following table disaggregates GEO's revenue by major source and also provides a reconciliation with revenue information disclosed for reportable segments in Note 15 - Business Segments and Geographic Information:

	Year Ended December 31, 2020 (in thousands)
	U.S. Secure Services		GEO Care		International		Facility Construction and Design		Total
Owned and Leased: Secure Services	$	1,198,881	$	—	$	—	$	—	$	1,198,881
Owned and Leased: Community-based		—		145,491		—		—		145,491
Owned and Leased: Youth Services		—		75,792		—		—		75,792
Managed Only		372,335		5,513		211,621		—		589,469
Facility Construction and Design		—		—		—		15,919		15,919
Non-residential Services and Other		—		324,546		—		—		324,546
Total Revenues	$	1,571,216	$	551,342	$	211,621	$	15,919	$	2,350,098

	Year Ended December 31, 2019 (in thousands)
	U.S. Secure Services		GEO Care		International		Facility Construction and Design		Total
Owned and Leased - Secure Services	$	1,228,299	$	—	$	—	$	—	$	1,228,299
Owned and Leased - Community-based		—		176,001		—		—		176,001
Owned and Leased - Youth Services		—		87,189		—		—		87,189
Managed Only		373,380		5,523		232,016		—		610,919
Facility Construction and Design		—		—		—		29,978		29,978
Non-residential Services and Other		—		345,536		—		—		345,536
Total Revenues	$	1,601,679	$	614,249	$	232,016	$	29,978	$	2,477,922

	Year Ended December 31, 2018 (in thousands)
	U.S Secure Services		GEO Care		International		Facility Construction and Design		Total
Owned and Leased - Secure Services	$	1,110,749	$	—	$	—	$	—	$	1,110,749
Owned and Leased - Community-based		—		170,805		—		—		170,805
Owned and Leased - Youth Services		—		91,824		—		—		91,824
Managed Only		382,224		4,981		253,874		—		641,079
Facility Construction and Design		—		—		—		4,226		4,226
Non-residential services and Other		—		312,703		—		—		312,703
Total Revenues	$	1,492,973	$	580,313	$	253,874	$	4,226	$	2,331,386

Owned and Leased - Secure Services

GEO recognizes revenue for secure housing services where GEO owns or leases the facility as services are performed. GEO provides for the safe and secure housing and care of incarcerated individuals under public-private partnerships with federal, state and local government agencies. This includes providing 24-hour care and supervision, including but not limited to, such services as medical, transportation, food service, laundry services and various programming activities. These tasks are considered to be activities to fulfill the safe and secure housing performance obligation and are not considered to be individually separate promises in the contract. Each of these activities is highly interrelated and GEO performs a significant level of integration of these activities. GEO has identified these activities as a bundle of services and determined that each day of the promised service is distinct. The services provided are part of a series of distinct services that are substantially the same and are measured using the same measure of progress (time-based output method). GEO has determined that revenue for these services are recognized over time as its customers simultaneously receive and consume the benefits as the services are performed, which is on a continual daily basis, and GEO has a right to payment for performance completed to date. Time-based output methods of revenue recognition are considered to be a faithful depiction of GEO's efforts to fulfill its obligations under its contracts and therefore reflect the transfer of services to its customers. GEO's customers generally pay for these services based on a net rate per day per individual or on a fixed monthly rate.

Owned and Leased - Community-based

GEO recognizes revenue for community-based reentry services where GEO owns or leases the facility in a manner similar to its secure services discussed above. GEO provides individuals nearing the end of their sentence with the resources necessary to productively transition back into society. Through its residential reentry centers, GEO provides federal and state parolees and probationers with temporary housing, rehabilitation, substance abuse counseling and vocational and educational programs. These activities are considered to be a bundle of services which are a part of a series of distinct services recognized over time based on the same criteria as discussed above for secure services revenues. GEO's customers also generally pay for these services based on a net rate per day per individual or on a fixed monthly rate.

Owned and Leased - Youth Services

GEO recognizes revenues for youth services where GEO owns or leases the facility in the same manner as discussed above for the housing, supervision, care and rehabilitation of troubled youth residents. The activities to house and care for troubled youth residents are also considered to be a bundle of services which are part of a series of distinct services recognized over time based on the same criteria discussed for the previous two revenue streams. GEO's customers generally pay for these services based on a net rate per day per individual.

Managed Only

GEO recognizes revenue for its managed only contracts in the same manner as its Owned and Leased Secure Services and Owned and Leased Community-based contracts as discussed above. The primary exception is that GEO does not own or lease the facility. The facility is owned by the customer. In certain circumstances, GEO's customers may request that GEO make certain capital improvements to the facility or make other payments related to the facility. These payments are amortized as a reduction of revenues over the life of the contract. GEO's customers generally pay for these services based on a net rate per day per individual or a fixed monthly rate.

Facility Construction and Design

During 2020, 2019 and 2018, the Company had facility construction and design services related to an expansion project at its Fulham Correctional Centre in Australia which was substantially completed in the third quarter of 2020. GEO determined revenue should be recorded over time using a time-based output method based on the same criteria as discussed above for secure services. Fees included and priced in the contract for managing the Facility are considered to be stated at their individual estimated stand-alone selling prices using the adjusted market assessment approach. These services are regularly provided by GEO on a stand-alone basis to similar customers within a similar range of amounts. GEO used the expected cost-plus margin approach to allocate the transaction price to the construction obligation. GEO was entitled under the contract to receive consideration in the amount of its costs plus a margin.

Non-residential Services and Other

Non-residential Services and Other revenue consists of the Company's contracts with federal and various state and local governments to provide location, alcohol and drug detecting electronic monitoring and case management services to individuals on an as needed or as requested basis. This category also includes the Company's day reporting centers.

GEO recognizes revenues for electronic monitoring and case management services as the services are performed. Services provided consist of community-based supervision (home visits), in-person reporting, telephonic reporting and GPS and other electronic monitoring as well as overall contract management services. The rates for the various services are considered to be stated at their individual stand-alone selling prices. GEO has determined that the services to be provided are recognized over time based on the unit of occurrence of the various services as its customer simultaneously receives and consumes the benefits as the services are performed and GEO has a right to payment for performance completed to date. Generally, these services are paid based on a net rate per occurrence and a monthly fee for management services.

Certain of the Company's electronic monitoring contracts include providing monitoring equipment and related monitoring services activities (using internal proprietary software platforms) to its customers. These tasks are considered to be activities to fulfill the promise to provide electronic monitoring services to individuals and are not considered to be individually separate promises in the contract. In the context of the contract, the equipment and monitoring service is not considered to be capable of being distinct as the customer typically cannot benefit from the equipment or monitoring service on its own or with other readily available resources. Management has identified these activities as a bundle of services and determined that each day or unit of the promised service is distinct. These services are part of a series of distinct services that are substantially the same and are measured using the same measure of progress (time-based output method) and are therefore accounted for as a single performance obligation. GEO has determined that services are recognized over time as the customer simultaneously receives and consumes the benefits as the services are performed and GEO has a right to payment for performance completed to date.

Services provided for GEO's day reporting centers are similar to its Owned and Leased Community-based services discussed above with the exception of temporary housing.

Income Taxes

The consolidated financial statements reflect provisions for federal, state, local and foreign income taxes. The Company recognizes deferred tax assets and liabilities for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis, as well as operating loss and tax credit carryforwards. The Company measures deferred tax assets and liabilities using enacted tax rates expected to apply to taxable income in the years in which those temporary differences and carryforwards are expected to be recovered or settled. The effect on deferred tax assets and liabilities as a result of a change in tax rates is recognized as income in the period that includes the enactment date. Refer to Note 16-Income Taxes. Effective January 1, 2013, as a REIT that is required to distribute at least 90% of its taxable income to shareholders, the Company does not expect to pay federal income taxes at the REIT level (including its qualified REIT subsidiaries), as the resulting dividends paid deduction will generally offset its taxable income. Since the Company does not expect to pay taxes on its REIT taxable income, it does not expect to be able to recognize such deferred tax assets and liabilities.

Deferred income taxes related to the TRS structure are determined based on the estimated future tax effects of differences between the financial statement and tax basis of assets and liabilities given the provisions of enacted tax laws. Significant judgments are required to determine the consolidated provision for income taxes. Deferred income tax provisions and benefits are based on changes to the assets or liabilities from year to year. Realization of the Company’s deferred tax assets is dependent upon many factors such as tax regulations applicable to the jurisdictions in which the Company operates, estimates of future taxable income and the character of such taxable income.

Additionally, the Company must use significant judgment in addressing uncertainties in the application of complex tax laws and regulations. If actual circumstances differ from the Company’s assumptions, adjustments to the carrying value of deferred tax assets or liabilities may be required, which may result in an adverse impact on the results of its operations and its effective tax rate. Valuation allowances are recorded related to deferred tax assets based on the “more likely than not” criteria. The Company has not made any significant changes to the way it accounts for its deferred tax assets and liabilities in any year presented in the consolidated financial statements. Based on its estimate of future earnings and its favorable earnings history, the Company currently expects full realization of the deferred tax assets net of any recorded valuation allowances. Furthermore, tax positions taken by the Company may not be fully sustained upon examination by the taxing authorities. In determining the adequacy of our provision (benefit) for income taxes, potential settlement outcomes resulting from income tax examinations are regularly assessed. As such, the final outcome of tax examinations, including the total amount payable or the timing of any such payments upon resolution of these issues, cannot be estimated with certainty.

Reserves for Insurance Losses

The nature of the Company’s business exposes it to various types of third-party legal claims, including, but not limited to, civil rights claims relating to conditions of confinement and/or mistreatment, sexual misconduct claims brought by individuals within our 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, contractual claims and claims for personal injury or other damages resulting from contact with our facilities, programs, electronic monitoring products, personnel or individuals within our care, including damages arising from an inmate’s escape or from a disturbance or riot at a facility. In addition, the Company’s management contracts generally require it to indemnify the governmental agency against any damages to which the governmental agency may be subject in connection with such claims or litigation. The Company maintains a broad program of insurance coverage for these general types of claims, except for claims relating to employment matters, for which the Company carries no insurance. There can be no assurance that the Company’s insurance coverage will be adequate to cover all claims to which it may be exposed. It is the Company’s general practice to bring merged or acquired companies into its corporate master policies in order to take advantage of certain economies of scale.

The Company currently maintains a general liability policy and excess liability policies with total limits of $70.0 million per occurrence and $90.0 million total general liability annual aggregate limits covering the operations of U.S. Secure Services, GEO Care's community-based services, GEO Care's youth services and BI. The Company has a claims-made liability insurance program with a specific loss limit of $40.0 million per occurrence and in the aggregate related to medical professional liability claims arising out of correctional healthcare services. The Company is uninsured for any claims in excess of these limits. We also maintain insurance to cover property and other casualty risks including, workers’ compensation, environmental liability, cybersecurity liability and automobile liability.

For most casualty insurance policies, the Company carries substantial deductibles or self-insured retentions of $3.0 million per occurrence for general liability and medical professional liability, $2.0 million per occurrence for workers’ compensation and $1.0 million per occurrence for automobile liability. In addition, certain of the Company’s facilities located in Florida and other high-risk hurricane areas carry substantial windstorm deductibles. Since hurricanes are considered unpredictable future events, no reserves have been established to pre-fund for potential windstorm damage. Limited commercial availability of certain types of insurance relating to windstorm exposure in coastal areas and earthquake exposure mainly in California and the Pacific Northwest may prevent the Company from insuring some of its facilities to full replacement value.

With respect to operations in South Africa, the United Kingdom and Australia, the Company utilizes a combination of locally-procured insurance and global policies to meet contractual insurance requirements and protect the Company. In addition to these policies, the Company’s Australian subsidiary carries tail insurance on a general liability policy related to a discontinued contract.

Of the insurance policies discussed above, the Company’s most significant insurance reserves relate to workers’ compensation, general liability and auto claims. These reserves are undiscounted and were $78.9 million and $68.2 million as of December 31, 2020 and 2019, respectively, and are included in Accrued Expenses in the accompanying Consolidated Balance Sheets. The Company uses statistical and actuarial methods to estimate amounts for claims that have been reported but not paid and claims incurred but not reported. In applying these methods and assessing their results, the Company considers such factors as historical frequency and severity of claims at each of its facilities, claim development, payment patterns and changes in the nature of its business, among other factors. Such factors are analyzed for each of the Company’s business segments. The Company estimates may be impacted by such factors as increases in the market price for medical services and unpredictability of the size of jury awards. The Company also may experience variability between its estimates and the actual settlement due to limitations inherent in the estimation process, including its ability to estimate costs of processing and settling claims in a timely manner as well as its ability to accurately estimate the Company’s exposure at the onset of a claim. Because the Company has high deductible insurance policies, the amount of its insurance expense is dependent on its ability to control its claims experience. If actual losses related to insurance claims significantly differ from the Company’s estimates, its financial condition, results of operations and cash flows could be materially adversely impacted.

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 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 in the consolidated statements of shareholders’ equity.

The components of accumulated other comprehensive loss attributable to GEO included in the consolidated statement of shareholders' equity are as follows (in thousands):

	Foreign currency translation adjustments, net of tax attributable to The GEO Group, Inc.			Unrealized loss on derivatives, net of tax			Pension adjustments, net of tax			Total
Balance, January 1, 2020	$	(12,314	)	$	(1,476	)	$	(6,545	)	$	(20,335	)
Current-period other comprehensive income (loss)		3,107			(3,276	)		(2,085	)		(2,254	)
Balance, December 31, 2020	$	(9,207	)	$	(4,752	)	$	(8,630	)	$	(22,589	)

	Foreign currency translation adjustments, net of tax attributable to The GEO Group, Inc.			Unrealized loss on derivatives, net of tax			Pension adjustments, net of tax			Total
Balance, January 1, 2019	$	(14,573	)	$	(5,746	)	$	(3,299	)	$	(23,618	)
Current-period other comprehensive income (loss) before reclassifications		2,259			419			(3,246	)		(568	)
Amounts reclassified from other comprehensive income into earnings [1]		—			3,851			—			3,851
Net current-period comprehensive income (loss)		2,259			4,270			(3,246	)		3,283
Balance, December 31, 2019	$	(12,314	)	$	(1,476	)	$	(6,545	)	$	(20,335	)

[1] On May 22, 2019, the Company refinanced the debt associated with its Ravenhall project and terminated the associated interest rate swap derivatives which resulted in the reclassification of $3.9 million into loss on extinguishment of debt that were previously reported in accumulated other comprehensive income (loss). In August 2019, the Company entered into two identical promissory 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 Company has entered into interest rate swap agreements to fix the interest rate at 4.22%. Refer to Note 7 - Derivative Financial Instruments and Note 12 - Debt for additional information.

There were no reclassifications out of accumulated other comprehensive income (loss) during the year ended December 31, 2020.

The foreign currency translation adjustment, net of tax, related to noncontrolling interests was not significant for the year ended December 31, 2020 or 2019.

Foreign Currency Translation

The Company’s foreign operations use their local currencies as their functional currencies. Assets and liabilities of the operations are translated at the exchange rates in effect on the balance sheet date and shareholders’ equity is translated at historical rates. Income statement items are translated at the average exchange rates for the year. Any adjustment resulting from translating the financial statements of the foreign subsidiary is reflected as other comprehensive income, net of related tax. Gains and losses on foreign currency transactions are included in the statement of operations.

Derivatives

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 and records derivatives as either assets or liabilities on the balance sheet. For derivatives that are designed as and qualify as effective cash flow hedges, the portion of gain or loss on the derivative instrument effective at offsetting changes in the hedged item is reported as a component of accumulated other comprehensive income and reclassified into earnings when the hedged transaction affects earnings. For derivative instruments that are designated as and qualify as effective fair value hedges, the gain or loss on the derivative instruments as well as the offsetting gain or loss on the hedged items attributable to the hedged risk is recognized in current earnings as interest income (expense) during the period of the change in fair values. For derivative instruments that do not meet the requirements for hedge accounting, changes in fair value are recorded in earnings.

The Company formally documents all relationships between hedging instruments and hedge items, as well as its risk-management objective and strategy for undertaking various hedge transactions. This process includes attributing all derivatives that are designated as cash flow hedges to floating rate liabilities and attributing all derivatives that are designated as fair value hedges to fixed rate liabilities. The Company also assesses whether each derivative is highly effective in offsetting changes in the cash flows of the hedged item. Fluctuations in the value of the derivative instruments are generally offset by changes in the hedged item; however, if it is determined that a derivative is not highly effective as a hedge or if a derivative ceases to be a highly effective hedge, the Company will discontinue hedge accounting prospectively for the affected derivative.

Stock-Based Compensation Expense

The Company recognizes the cost of stock-based compensation awards based upon the grant date fair value of those awards. The impact of forfeitures that may occur prior to vesting is also estimated and considered in the amount recognized. Stock-based compensation expense is recognized ratably over the requisite service period, which is typically the vesting period.

The fair value of stock-based option awards was estimated using the Black-Scholes option-pricing model with the following weighted average assumptions for options awarded during years 2020, 2019 and 2018:

	2020			2019			2018
Risk free interest rates		1.79	%		2.44	%		2.84	%
Expected term	4-5 years			4-5 years			4-5 years
Expected volatility		41	%		41	%		40	%
Expected dividend rate		13.11	%		8.47	%		8.70	%

The Company uses historical data to estimate award exercises and employee terminations within the valuation model. The expected term of the awards represents the period of time that awards granted are expected to be outstanding and is based on historical data and expected holding periods.

For restricted stock share-based awards that contain a performance condition, the achievement of the targets must be probable before any share-based compensation is recorded. If subsequent to the 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.

For restricted stock share-based awards that contain a market condition, the probability of satisfying the market condition is 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 restricted stock awards granted in 2020, 2019 and 2018 with market-based performance conditions 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 average key assumptions:

	2020			2019			2018
Expected volatility		30.3	%		43.7	%		44.5	%
Beta		1.12			1.00			1.05
Risk free interest rate		0.85	%		2.53	%		2.58	%

Earnings Per Share

Basic earnings per share is computed by dividing the net income attributable to GEO, by the weighted average number of outstanding shares of common stock. The calculation of diluted earnings per share is similar to that of basic earnings per share, except that the denominator includes the dilutive effect, if any, of common stock equivalents such as stock options and shares of restricted stock.

Recent Accounting Pronouncements

The Company implemented the following accounting standards during the year ended December 31, 2020:

The SEC recently adopted the final rule in Release No. 33-10762 (the “Final Rule”), Financial Disclosures about Guarantors and Issuers of Guaranteed Securities and Affiliates Whose Securities Collateralize a Registrant’s Securities, to eliminate certain prescriptive requirements currently in Rules 3-10 and 3-16 of Regulation S-X. The Final Rule amends Regulation S-X Rules 3-10 and 3-16 with Regulation S-X Rules 13-01, Guarantors and issuers of guaranteed securities registered or being registered, and 13-02, Affiliates whose securities collateralize securities registered or being registered. The Final Rule simplifies the conditions required to omit separate financial statements of subsidiary issuers and guarantors, allows for reduced supplemental financial information about subsidiary issuers and guarantors as well as affiliates whose securities are collateralized and expands qualitative disclosures about the guarantees or securities pledged as collateral as well

as issuers, guarantors, or affiliates, as applicable. The amended rules also provide flexibility to include these disclosures within or outside the annual and interim financial statements in both registration statements and periodic reports. Further, the disclosures are required only for the most recent annual and year-to-date interim periods. The Final Rule is effective on January 4, 2021 with early adoption permitted. The early adoption of the Final Rule did not have a material impact on the Company's financial position, results of operations or cash flows.

In August 2018, the FASB issued ASU No. 2018-13, "Fair Value Measurement (Topic 820)" as a part of its disclosure framework project. The amendments in this update remove, modify and add certain disclosures primarily related to transfers between Level 1 and Level 2 of the fair value hierarchy, various disclosures related to Level 3 fair value measurements and investments in certain entities that calculate net asset value. The new standard was effective for the Company beginning January 1, 2020. The adoption of this standard did not have a material impact on the Company's financial position, results of operations or cash flows.

In June 2016, the FASB issued ASC No. 2016-13, "Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments". The purpose of Update No. 2016-13 is to replace the current incurred loss impairment methodology for financial assets measured at amortized cost with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information, including forecasted information, to develop credit loss estimates. Update No. 2016-13 was effective for the Company beginning January 1, 2020. The adoption of this standard did not have a material impact on the Company's financial position, results of operations or cash flows.

The following accounting standards will be adopted in future periods:

In August 2020, the FASB issued ASU 2020-06, “Debt – Debt with Conversion and Other Options”. The guidance in this update simplifies the accounting for convertible debt and convertible preferred stock by removing the requirements to separately present certain conversion features in equity. In addition, the amendments in the ASU also simplify the guidance in ASC 815-40, “Derivatives and Hedging: Contracts in an Entity’s Own Equity” by removing certain criteria that must be satisfied in order to classify a contract as equity, which is expected to decrease the number of freestanding instruments and embedded derivatives accounted for as assets or liabilities. Finally, the amendments revise the guidance on calculating earnings per share, requiring use of the if-converted method for all convertible instruments and rescinding an entity’s ability to rebut the presumption of share settlement for instruments that may be settled in cash or shares. The new standard is effective for the Company beginning January 1, 2022. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The adoption of this standard is not expected to have a material impact on the Company's financial position, results of operations or cash flows.

In March 2020, the 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. The Company is currently evaluating the impact of reference rate reform and the potential application of this guidance.

In August 2018, the FASB issued ASU No. 2018-14, "Compensation-Retirement Benefits-Defined Benefit Plans-General (Topic 715.20)" as a part of its disclosure framework project. The amendments in this update remove, modify and add certain disclosures primarily related to amounts in accumulated other comprehensive income expected to be recognized as components of net periodic benefit cost over the next fiscal year, explanations for reasons for significant gains and losses related to changes in the benefit obligation for the period, and projected and accumulated benefit obligations. The new standard is effective for the Company beginning January 1, 2021. The adoption of this standard is not expected to have a material impact on the Company's financial position, results of operations or cash flows.

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.

Shareholders' Equity

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

Shareholders' Equity

2.	Shareholders’ Equity

Common Stock

Each holder of the Company’s common stock is entitled to one vote per share on all matters to be voted upon by the Company’s shareholders. Upon any liquidation, dissolution or winding up of the Company, the holders of common stock are entitled to share equally in all assets available for distribution after payment of all liabilities, subject to the liquidation preference of shares of preferred stock, if any, then outstanding.

Distributions

As a REIT, GEO is required to distribute annually at least 90% of its REIT taxable income (determined without regard to the dividends paid deduction and by excluding net capital gain) and began paying regular quarterly REIT dividends in 2013. The amount, timing and

frequency of future dividends, however, will be at the sole discretion of GEO's Board of Directors (the "Board”) and will be declared based upon various factors, many of which are beyond GEO's control, including, GEO's financial condition and operating cash flows, the amount required to maintain REIT status and reduce any income taxes that GEO otherwise would be required to pay, limitations on distributions in GEO's existing and future debt instruments, limitations on GEO's ability to fund distributions using cash generated through GEO's TRSs and other factors that GEO's Board may deem relevant.

During the years ended December 31, 2020, 2019 and 2018, GEO declared and paid the following regular cash distributions to its stockholders which were treated for federal income taxes as follows:

					Ordinary Dividends
Declaration Date	Payment Date	Record Date	Distribution Per Share		Qualified (1)		Non-Qualified		Nondividend Distributions (2)		Aggregate Payment Amount (millions)
February 5, 2018	February 27, 2018	February 16, 2018	$	0.47	$	0.046117	$	0.209022	$	0.2148609	$	58.3
April 11, 2018	May 3, 2018	April 23, 2018	$	0.47	$	0.046117	$	0.209022	$	0.2148609	$	57.4
July 10, 2018	July 27, 2018	July 20, 2018	$	0.47	$	0.046117	$	0.209022	$	0.2148609	$	57.2
October 15, 2018	November 2, 2018	October 26, 2018	$	0.47	$	0.046117	$	0.209022	$	0.2148609	$	57.2
February 4, 2019	February 22, 2019	February 15, 2019	$	0.48	$	—	$	0.2759699	$	0.2040301	$	57.9
April 3, 2019	April 22, 2019	April 15, 2019	$	0.48	$	—	$	0.2759699	$	0.2040301	$	58.2
July 9, 2019	July 26, 2019	July 19, 2019	$	0.48	$	—	$	0.2759699	$	0.2040301	$	58.2
October 14, 2019	November 1, 2019	October 25, 2019	$	0.48	$	—	$	0.2759699	$	0.2040301	$	58.2
February 3, 2020	February 21, 2020	February 14, 2020	$	0.48	$	—	$	0.2655802	$	0.2144198	$	58.2
April 6, 2020	April 24, 2020	April 17, 2020	$	0.48	$	—	$	0.2655802	$	0.2144198	$	58.5
July 7, 2020	July 24, 2020	July 17, 2020	$	0.48	$	—	$	0.2655802	$	0.2144198	$	58.5
October 6, 2020	October 23, 2020	October 16, 2020	$	0.34	$	—	$	0.1881193	$	0.1518807	$	41.5

(1)	For 2019 and 2020, there are no Qualified Dividends. Qualified Dividends represents the portion of Total Ordinary Dividends which constitutes a "Qualified Dividend", as defined by the Internal Revenue Service.

(2)	The amount constitutes a "Return of Capital", as defined by the Internal Revenue Service.

Stock Buyback Program

On February 14, 2018, the Company announced that its Board authorized a stock buyback program authorizing the Company to repurchase up to a maximum of $200 million of its shares of common stock. The stock buyback program was funded primarily with cash on hand, free cash flow and borrowings under the Company's $900 million revolving credit facility (the "Revolver"). The program expired on October 20, 2020. The stock buyback program was intended to be implemented through purchases made from time to time in the open market or in privately negotiated transactions, in accordance with applicable Securities and Exchange Commission ("SEC") requirements. The stock buyback program did not obligate the Company to purchase any specific amount of its common stock and could have been suspended or extended at any time at the discretion of the Company's Board. During the year ended December 31, 2020, the Company purchased 553,665 shares of its common stock at a cost of $9.0 million primarily purchased with proceeds from the Company’s Revolver. There were no purchases of the Company's common stock during the year ended December 31, 2019. During the year ended December 31, 2018, the Company purchased 4,210,254 shares of its common stock at a cost of $95.2 million primarily purchased with proceeds from the Company's Revolver.

Automatic Shelf Registration on Form S-3

On October 30, 2020, the Company filed an automatic shelf registration on Form S-3 with 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. Each time the Company offers to sell securities, the Company will provide a prospectus supplement that will contain specific information about the terms of that offering and the securities being offered. The shelf registration statement is automatically effective and is valid for three years.

Preferred Stock

In April 1994, the Company’s Board authorized 30 million shares of “blank check” preferred stock. The Board is authorized to determine the rights and privileges of any future issuance of preferred stock such as voting and dividend rights, liquidation privileges, redemption rights and conversion privileges. As of December 31, 2020 and 2019, there were no shares of preferred stock outstanding.

Noncontrolling Interests

The Company includes the results of operations and financial position of SACM or the “joint venture”, its majority-owned subsidiary, in its consolidated financial statements. SACM was established in 2001 to operate correctional centers in South Africa. The joint venture currently provides security and other management services for the Kutama Sinthumule Correctional Centre in the Republic of South Africa under a 25-year management contract which commenced in February 2002. The Company’s and the joint venture partner’s shares in the profits of the joint venture are 88.75% and 11.25%, respectively. There were no changes in the Company’s ownership percentage of the consolidated subsidiary during the years ended December 31, 2020, 2019 and 2018.

Equity Incentive Plans

12 Months Ended

Dec. 31, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Equity Incentive Plans

3.	Equity Incentive Plans

The Board has adopted The GEO Group, Inc. 2018 Stock Incentive Plan (the "2018 Plan"), which was approved by the Company's shareholders on April 24, 2018. The 2018 Plan replaced the 2014 Stock Incentive Plan. As of the date the 2018 Plan was adopted, it provided for a reserve of 4,600,000 shares of common stock that may be issued pursuant to awards granted under the 2018 Plan. The Company filed a Form S-8 registration statement related to the 2018 Plan on May 11, 2018.

Under the terms of the 2018 Plan, the vesting period and, in the case of stock options, the exercise price per share, are determined by the terms of each grant agreement. All stock options that have been granted under the Company plans are exercisable at the fair market value of the common stock at the date of the grant. Generally, the stock options vest and become exercisable ratably over a four-year period. All stock options awarded under the 2018 Plan expire no later than ten years after the date of the grant. When options are exercised, the Company issues shares of common stock related to the exercised options.

The Company recognized compensation expense related to the Company plans for the years ended December 31, 2020, 2019 and 2018 as follows (in thousands):

	2020		2019		2018
Stock option plan expense	$	1,141	$	1,085	$	996
Restricted stock expense	$	22,755	$	21,260	$	21,053

Stock Options

A summary of the activity of the Company’s stock options plans is presented below:

	Shares			Wtd. Avg. Exercise Price		Wtd. Avg. Remaining Contractual Term (years)		Aggregate Intrinsic Value
	(In thousands)							(In thousands)
Options outstanding at January 1, 2020		1,590		$	24.29		6.90	$	232
Granted		480			14.64
Exercised		-			-
Forfeited/Canceled		(119	)		21.96
Options outstanding at December 31, 2020		1,951		$	22.07		6.62	$	-
Options vested and expected to vest at December 31, 2020		1,869		$	22.27		6.53	$	-
Options exercisable at December 31, 2020		1,051		$	24.53		5.13	$	-

The aggregate intrinsic value in the table above represents the total pretax intrinsic value (i.e., the difference between the Company’s closing stock price on the last trading day of 2020 and the exercise price, times the number of shares that are “in the money”) that would have been received by the option holders had all option holders exercised their options on December 31, 2020. This amount changes based on the fair value of the Company’s stock.

The following table summarizes information relative to stock option activity during the years ended December 31, 2020, 2019 and 2018 (in thousands):

	2020		2019		2018
Intrinsic value of options exercised	$	-	$	433	$	519
Fair value of shares vested	$	1,061	$	971	$	794

The following table summarizes information about the exercise prices and related information of stock options outstanding under the Company plans at December 31, 2020:

	Options Outstanding						Options Exercisable
Exercise Prices ($)	Number Outstanding		Wtd. Avg. Remaining Contractual Life		Wtd. Avg. Exercise Price		Number Exercisable		Wtd. Avg. Remaining Contractual Life		Wtd. Avg. Exercise Price
	(In thousands)
0-18.23		552		7.51	$	14.62		109		0.74	$	14.53
18.24-22.26		588		6.12	$	20.99		417		5.63	$	20.74
22.27-29.39		495		6.55	$	25.11		272		5.22	$	27.11
29.40-50.00		316		6.12	$	32.27		253		6.11	$	32.27
Total		1,951		6.62	$	22.07		1,051		5.13	$	24.53

The weighted average grant date fair value of options granted during the year ended December 31, 2020, 2019 and 2018 was $1.59, $3.64 and $5.91 per share, respectively. There were 0.5 million, 0.4 million and 0.5 million options granted during the year ended December 31, 2020, 2019 and 2018, respectively.

The following table summarizes the status of non-vested stock options as of December 31, 2020 and changes during the year ended December 31, 2020:

	Number of Shares			Wtd. Avg. Grant Date Fair Value
	(In thousands)
Options non-vested at January 1, 2020		781		$	3.99
Granted		480			1.59
Vested		(242	)		3.79
Forfeited		(119	)		3.40
Options non-vested at December 31, 2020		900		$	2.87

As of December 31, 2020, the Company had $2.2 million of unrecognized compensation costs related to non-vested stock option awards that are expected to be recognized over a weighted average period of 2.3 years.

Restricted Stock

During the year ended December 31, 2020, the Company granted approximately 900,000 shares of restricted stock to certain employees and executive officers. Of these awards, 360,000 are market and performance-based awards that will be forfeited if the Company does not achieve certain annual metrics during 2020, 2021 and 2022. The fair value of restricted stock awards, which do not contain a market-based condition, is determined using the closing price of the Company’s common stock on the date of the grant and compensation expense is recognized over the vesting period. Generally, the restricted stock awards vest in equal increments over either a three or four-year period.

The vesting of market and performance-based restricted stock grants awarded in 2020 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, 2020 to December 31, 2022 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, 2020 to December 31, 2022. 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 market and performance-based awards is based on the target awards for both metrics.

During the year ended December 31, 2019, the Company granted approximately 788,000 shares of restricted stock to certain employees and executive officers. Of these awards, 250,000 are market and performance-based awards that will be forfeited if the Company does not achieve certain annual metrics over a three-year period from January 1, 2019 to December 31, 2021.

The vesting of the market and performance-based restricted stock grants awarded in 2019 are subject to the achievement by GEO of two annual performance metrics as follows: (i) up to 50% of the TSR Target Award can vest at the end of a three-year performance period if GEO meets certain TSR performance targets, as compared to the total shareholder return of a peer group of companies, over a three year period from January 1, 2019 to December 31, 2021; and (ii) up to 50% of the ROCE Target Award can vest at the end of a three-year performance period if GEO meets certain ROCE performance targets over a three year period from January 1, 2019 to December 31, 2021. These market and performance-based awards can vest at between 0% and 200% of the target awards for both metrics. The number of shares shown for the market and performance-based awards is based on the target awards for both metrics.

During the year ended December 31, 2018, the Company granted 906,000 shares of restricted stock to its executive officers and to certain senior employees. Of these awards, 352,500 are market and performance-based awards that will be forfeited if the Company does not achieve certain annual metrics over a three-year period from January 1, 2018 to December 31, 2020.

The vesting of the market and performance-based restricted stock grants awarded in 2018 are subject to the achievement by GEO of two annual performance metrics as follows: (i) up to 50% of the TSR Target Award can vest at the end of a three-year performance period if GEO meets certain TSR performance targets, as compared to the total shareholder return of a peer group of companies, over a three year period from January 1, 2018 to December 31, 2020; and (ii) up to 50% of the ROCE Target Award can vest at the end of a three-year period if GEO meets certain ROCE performance targets over a three year period from January 1, 2018 to December 31, 2020. These performance awards can vest at the end of the three-year performance period 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 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. Compensation expense is recognized over the vesting period and previously recorded compensation expense is not reversed if the market condition is never met. Refer to Note 1 - Summary of Business Organization, Operations and Significant Accounting Policies-Stock-Based Compensation Expense, for the assumptions and method used to value these awards.

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 the 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. During 2020, 2019 and 2018, the Company deemed the achievement of the target award to be probable and there were no changes in the estimated quantity of awards expected to vest. 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 following table summarizes the status of restricted stock awards as of December 31, 2020 and changes during the year ended December 31, 2020:

	Shares			Wtd. Avg. Grant date Fair value
	(In thousands)
Restricted stock outstanding at January 1, 2020		2,047		$	27.33
Granted		900			15.30
Vested		(736	)		27.79
Forfeited/Canceled		(57	)		20.36
Restricted stock outstanding at December 31, 2020		2,154		$	20.61

As of December 31, 2020, the Company had $22.0 million of unrecognized compensation cost that is 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”), which was approved by the Company's shareholders. The purpose of the Plan, which is qualified under Section 423 of the Internal Revenue Service Code of 1986, as amended, 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 Company has made available up to 750,000 shares of its common stock, which were registered with the Securities and Exchange Commission on May 4, 2012, as amended on July 18, 2014, for sale to eligible employees.

The Plan is considered to be non-compensatory. As such, there is no compensation expense required to be recognized. Share purchases under the Plan are made on the last day of each month. During the years ended December 31, 2020, 2019 and 2018, 49,896, 30,153 and 24,365 shares of common stock, respectively, were issued in connection with the Plan.

Earnings Per Share

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Earnings Per Share

4.	Earnings Per Share

Basic and diluted earnings per share (“EPS”) from continuing operations were calculated for the years ended December 31, 2020, 2019, and 2018 respectively, as follows:

Fiscal Year	2020		2019		2018
	(In thousands, except per share data)
Net Income	$	112,831	$	166,412	$	144,827
Loss attributable to noncontrolling interests		201		191		262
Net income attributable to The GEO Group, Inc.	$	113,032	$	166,603	$	145,089
Basic earnings per share attributable to The GEO Group, Inc.:
Weighted average shares outstanding		119,719		119,097		120,241
Per share amount	$	0.94	$	1.40	$	1.21
Diluted earnings per share attributable to The GEO Group, Inc.:
Weighted average shares outstanding		119,719		119,097		120,241
Dilutive effect of equity incentive plans		272		214		506
Weighted average shares assuming dilution		119,991		119,311		120,747
Per share amount - diluted	$	0.94	$	1.40	$	1.20

For the year ended December 31, 2020, 1,931,407 weighted average shares of common stock underlying options were excluded from the computation of diluted EPS because the effect would be anti-dilutive. For the same period, 1,652,986 common stock equivalents from restricted shares were anti-dilutive and excluded from the computation of diluted EPS.

For the year ended December 31, 2019, 1,495,210 weighted average shares of common stock underlying options were excluded from the computation of diluted EPS because the effect would be anti-dilutive. For the same period, 1,514,177 common stock equivalents from restricted shares were anti-dilutive and excluded from the computation of diluted EPS.

For the year ended December 31, 2018, 931,473 weighted average shares of common stock underlying options were excluded from the computation of diluted EPS because the effect would be anti-dilutive. For the same period, 680,062 common stock equivalents from restricted shares were anti-dilutive and excluded from the computation of diluted EPS.

Property and Equipment

12 Months Ended

Dec. 31, 2020

Property Plant And Equipment [Abstract]

Property and Equipment

5.	Property and Equipment

Property and equipment consist of the following at fiscal year-end:

	Useful Life		2020			2019
	(Years)		(In thousands)
Land		—	$	128,498		$	128,874
Buildings and improvements	2 to 50			2,264,910			2,229,956
Leasehold improvements	1 to 29			283,561			291,511
Equipment	3 to 10			225,509			216,604
Furniture, fixtures and computer software	1 to 7			66,375			64,828
Facility construction in progress		—		42,863			31,979
Total			$	3,011,716		$	2,963,752
Less accumulated depreciation and amortization				(889,521	)		(819,030	)
Property and equipment, net			$	2,122,195		$	2,144,722

The Company amortizes its leasehold improvements over the shorter of their estimated useful lives or the terms of the leases including renewal periods that are reasonably assured. The Company’s construction in progress primarily consists of new construction and renovations to facilities that are owned by the Company. Interest capitalized in property and equipment for the years ended December 31, 2020 and 2019 was not significant.

Depreciation expense was $112.4 million, $107.9 million and $103.5 million for the years ended December 31, 2020, 2019 and 2018, respectively.

At both December 31, 2020 and 2019, the Company had $19.4 million and $17.1 million, respectively, of assets recorded under finance leases related to land, buildings and improvements. Finance leases are recorded net of accumulated amortization of $15.4 million and $14.2 million, at December 31, 2020 and 2019, respectively. Depreciation expense related to assets recorded under finance leases for each of the years ended December 31, 2020, 2019 and 2018 was $1.2 million, $1.0 million and $1.0 million, respectively and are included in Depreciation and Amortization in the accompanying consolidated statements of operations.

Contract Receivable

12 Months Ended

Dec. 31, 2020

Receivables [Abstract]

Contract Receivable

6.	Contract Receivable

On September 16, 2014, GEO's wholly-owned subsidiary, GEO Ravenhall Pty. Ltd., in its capacity as trustee of another wholly-owned subsidiary, GEO Ravenhall Trust ("Project Co"), signed the Ravenhall Prison Project Agreement ("Ravenhall Contract") with the State of Victoria (the "State") for the development and operation of a 1,300-bed facility in Ravenhall, a locality near Melbourne, Australia under a public-private partnership financing structure. The design and construction phase ("D&C Phase") of the agreement began in September 2014 and was completed in November 2017. Project Co was the primary developer during the D&C Phase and subcontracted with a bonded international design and build contractor to design and construct the facility. GEO's wholly owned subsidiary, the GEO Group Australasia Pty. Ltd. ("GEO Australia") is currently operating the facility under a 25-year management contract ("Operating Phase"). During the D&C Phase, GEO Australia provided construction management and consultant services to the State.

During the D&C Phase, the Company recognized revenue as earned on a percentage of completion basis measured by the percentage of costs incurred to date as compared to the estimated total costs for the design and construction of the facility. Costs incurred and estimated earnings in excess of billings are classified as Contract Receivable in the accompanying consolidated balance sheets. The total balance of the Contract Receivable at December 31, 2020 is $402.9 million which is recorded at net present value based on the timing of expected future settlement. Interest income is recorded as earned using an effective interest rate of 8.97%. As the primary contractor, Project Co was exposed to the various risks associated with the D&C Phase. Accordingly, the Company recorded construction revenue on a gross basis and included the related costs of construction activities in operating expenses within the Facility Design & Construction segment. Reimbursable pass through costs were excluded from revenues and expenses.

Derivative Financial Instruments

12 Months Ended

Dec. 31, 2020

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

7.	Derivative Financial Instruments

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 (loss), net of applicable taxes. Total unrealized losses recorded in total other comprehensive income (loss), net of tax, related to these cash flow hedges was $4.8 million during the year ended December 31, 2020. The total fair value of the swap liabilities as of December 31, 2020 was $6.0 million and is recorded as a component of Other Non-Current liabilities within the accompanying 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 12 - Debt for additional information.

The Company’s Australian subsidiary entered into interest rate swap agreements to fix the interest rate on its variable rate non-recourse debt related to a project in Ravenhall, a locality near Melbourne, Australia to 4.2%. The Company determined that the swaps had payment, expiration dates, and provisions that coincided with the terms of the non-recourse debt and were therefore considered to be effective cash flow hedges. Accordingly, the Company recorded the change in the fair value of the interest rate swaps in accumulated other comprehensive income (loss), net of applicable income taxes. On May 22, 2019, the Company refinanced the associated debt and terminated the swap agreements which resulted in the reclassification of $3.9 million into losses that were previously reported in accumulated other comprehensive income (loss). Refer to Note 12 - Debt for additional information.

Goodwill and Other Intangible Assets, Net

12 Months Ended

Dec. 31, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets, Net

8.	Goodwill and Other Intangible Assets, Net

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 recognized during the years ended December 31, 2020 and 2019 were as follows (in thousands):

	1/1/2020		Impairment charges [1]			Foreign currency translation		12/31/2020
U.S. Secure Services	$	316,366	$	—		$	—	$	316,366
GEO Care		459,589		(21,146	)		—		438,443
International Services		401		-			40		441
Total Goodwill	$	776,356	$	(21,146	)	$	40	$	755,250

[1] As discussed in Note 1 – Summary of Business Organization, Operations and Significant Policies, the Company performed its annual goodwill impairment testing on the first day of the fourth quarter of 2020. That testing indicated that there was a goodwill impairment in its community based reporting unit, which is included in the Company’s GEO Care reportable segment, and for which a quantitative analysis was performed. After the impairment charge, there is approximately $148.8 million of goodwill remaining in the community based reporting unit at December 31, 2020.

	1/1/2019		Foreign currency translation			12/31/2019
U.S. Secure Services	$	316,366	$	—		$	316,366
GEO Care		459,589		—			459,589
International Services		404		(3	)		401
Total Goodwill	$	776,359	$	(3	)	$	776,356

Intangible assets consisted of the following as of December 31, 2020 and 2019 (in thousands):

	Weighted		December 31, 2020							December 31, 2019
	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	$	308,398	$	(168,848	)	$	139,550	$	308,432	$	(148,171	)	$	160,261
Technology		7.3		33,700		(30,703	)		2,997		33,700		(29,091	)		4,609
Trade names	Indefinite			45,200		—			45,200		45,200		—			45,200
Total acquired intangible assets			$	387,298	$	(199,551	)	$	187,747	$	387,332	$	(177,262	)	$	210,070

The accounting for recognized intangible assets is based on the useful lives to the reporting entity. Intangible assets with finite useful lives are amortized over their useful lives and intangible assets with indefinite useful lives are not amortized. The Company estimates the useful lives of its intangible assets taking into consideration (i) the expected use of the asset by the Company, (ii) the expected useful lives of other related assets or groups of assets, (iii) legal or contractual limitations, (iv) the Company's historical experience in renewing or extending similar arrangements, (v) the effects of obsolescence, demand, competition and other economic factors and (vi) the level of maintenance expenditures required to obtain the expected cash flows from the asset.

Amortization expense was $22.3 million, $22.3 million and $22.9 million for the years ended December 31, 2020, 2019 and 2018, respectively, and primarily related to the U.S. Secure Services and GEO Care segments’ amortization of intangible assets for acquired management contracts. The Company relies on its historical experience in determining the useful life of facility management contracts. The Company makes assumptions related to acquired facility management contracts based on the competitive environment for individual contracts, our historical success rates in retaining contracts, the supply of available beds in the market, changes in legislation, the projected profitability of the facilities and other market conditions. As of December 31, 2020, the weighted average period before the next contract renewal or extension for the facility management contracts was approximately 2.0 years. Although the facility management contracts acquired have renewal and extension terms in the near term, the Company has historically maintained these relationships beyond the contractual periods.

Estimated amortization expense related to the Company’s finite-lived intangible assets for 2021 through 2025 and thereafter is as follows (in thousands):

Fiscal Year	Total Amortization Expense
2021	$	21,189
2022		16,705
2023		13,481
2024		9,748
2025		9,696
Thereafter		71,728
	$	142,547

Financial Instruments

12 Months Ended

Dec. 31, 2020

Financial Instruments Financial Assets Balance Sheet Groupings [Abstract]

Financial Instruments

9.	Financial Instruments

The following table provides a summary of the Company’s significant financial assets and liabilities carried at fair value and measured on a recurring basis (in thousands):

	Fair Value Measurements at December 31, 2020
	Carrying Value at December 31, 2020		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Restricted investments:
Rabbi Trust	$	35,749	$	—	$	35,749	$	—
Fixed income securities		1,932		—		1,932		—
Liabilities:
Interest rate swap derivatives	$	6,015	$	—	$	6,015	$	—

	Fair Value Measurements at December 31, 2019
	Carrying Value at December 31, 2019		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Restricted investments:
Rabbi Trust	$	28,332	$	—	$	28,332	$	—
Fixed income securities		1,892		—		1,892		—
Liabilities:
Interest rate swap derivatives	$	1,869	$	—	$	1,869	$	—

The Company’s Level 2 financial instruments included in the tables above as of December 31, 2020 and 2019 consist of interest rate swap derivative liabilities held by GEO and the Company's Australian subsidiary, the Company's rabbi trust established for 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. On May 22, 2019, the Company terminated the interest rate swap derivative liabilities in connection with a debt refinancing transaction by our Australian subsidiary. Refer to Note 7 - Derivative Financial Instruments and Note 12 - Debt for additional information.

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 account. 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, not actively traded, are valued using quoted rates for these and similar securities.

During the years ended December 31, 2019 and 2018, the Company transferred certain accounts receivable balances that had a carrying value of approximately $3.0 million and $6.9 million, respectively, to an unrelated third party. The transfers were accounted for as sales and the Company has no continuing involvement with the transferred assets. The Company received cash proceeds in connection with the sales of approximately $3.0 million and $6.9 million, respectively, and as such, there was no gain or loss in connection with the transactions. There were no such transactions during the year ended December 31, 2020.

Fair Value of Assets and Liabilities

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value of Assets and Liabilities

10.	Fair Value of Assets and Liabilities

The Company’s Consolidated Balance Sheets reflect certain financial instruments at carrying value. The following table presents the carrying values of those instruments and the corresponding estimated fair values (in thousands):

	Estimated Fair Value Measurements at December 31, 2020
	Carrying Value as of December 31, 2020		Total Fair Value		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	283,524	$	283,524	$	283,524	$	—	$	—
Restricted cash and investments		28,329		28,329		28,329		—		—
Liabilities:
Borrowings under Senior Credit Facility	$	1,474,437	$	1,342,066	$	—	$	1,342,066	$	—
5.875% Senior Notes due 2022		193,958		192,736		—		192,736		—
5.125% Senior Notes		281,783		256,096		—		256,096		—
5.875% Senior Notes due 2024		242,500		202,458		—		202,458		—
6.00% Senior Notes		350,000		279,493		—		279,493		—
Non-recourse debt		344,614		344,632		—		344,632		—

	Estimated Fair Value Measurements at December 31, 2019
	Carrying Value as of December 31, 2019		Total Fair Value		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	32,463	$	32,463	$	32,463	$	—	$	—
Restricted cash and investments		35,010		35,010		35,010		—		—
Liabilities:
Borrowings under Senior Credit Facility	$	1,298,671	$	1,218,861	$	—	$	1,218,861	$	—
5.875% Senior Notes due 2022		193,958		194,239		—		194,239		—
5.125% Senior Notes		300,000		287,982		—		287,982		—
5.875% Senior Notes due 2024		250,000		228,493		—		228,493		—
6.00% Senior Notes		350,000		314,052		—		314,052		—
Non-recourse debt		328,178		327,792		—		327,792		—

The fair values of the Company’s cash and cash equivalents, and restricted cash approximates the carrying values of these assets at December 31, 2020 and 2019. Restricted cash consists of money market funds, commercial paper and time deposits used for payments on the Company’s non-recourse debt and asset replacement funds contractually required to be maintained at the Company's Australian subsidiary. The fair value of the money market funds is based on quoted market prices (level 1) and the fair value of commercial paper and time deposits is based on market prices for similar instruments (level 2). The fair values of the Company’s 6.00% senior unsecured notes due 2026 (the “6.00% Senior Notes”), 5.125% Senior Notes due 2023 (the “5.125% Senior Notes”), 5.875% Senior Notes due 2022 (the "5.875% Senior Notes due 2022”) and the 5.875% Senior Notes due 2024 (the "5.875% Senior Notes due 2024"), although not actively traded, are based on published financial data for these instruments. The fair value of the Company’s non-recourse debt is based on estimate of trading value considering the Company's borrowing rate, the undrawn spread and similar instruments. The fair value of borrowings under the Senior Credit Facility is also based on an estimate of trading value considering the Company’s borrowing rate, the undrawn spread and similar instruments.

Accrued Liabilities Current [Abstract]

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

Accrued Expenses and other current liabilities

12 Months Ended

Dec. 31, 2020

Accrued Expenses and other current liabilities

11.	Accrued Expenses and other current liabilities

Accrued expenses and other current liabilities consisted of the following (in thousands):

	2020		2019
Accrued interest	$	17,614	$	17,850
Accrued bonus		16,986		16,914
Accrued insurance		78,893		73,192
Accrued repair obligations for damaged property		—		4,343
Accrued property and other taxes		38,524		35,192
Construction retainage		1,062		1,097
Other		49,299		43,020
Total	$	202,378	$	191,608

Debt

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Debt

12.

Debt

Debt consisted of the following (in thousands):

	December 31, 2020			December 31, 2019
Senior Credit Facility:
Term loan	$	770,000		$	778,000
Unamortized debt issuance costs on term loan		(4,043	)		(5,410	)
Unamortized discount on term loan		(1,705	)		(2,281	)
Revolver		704,437			520,671
Total Senior Credit Facility	$	1,468,689		$	1,290,980
6.00% Senior Notes:
Notes Due in 2026	$	350,000		$	350,000
Unamortized debt issuance costs		(3,709	)		(4,282	)
Total 6.00% Senior Notes Due in 2026	$	346,291		$	345,718
5.875% Senior Notes:
Notes Due in 2024	$	242,500		$	250,000
Unamortized debt issuance costs		(2,000	)		(2,532	)
Total 5.875% Senior Notes Due in 2024	$	240,500		$	247,468
5.125% Senior Notes:
Notes Due in 2023	$	281,783		$	300,000
Unamortized debt issuance costs		(2,033	)		(2,876	)
Total 5.125% Senior Notes Due in 2023	$	279,750		$	297,124
5.875% Senior Notes:
Notes Due in 2022	$	193,958		$	193,958
Unamortized debt issuance costs		(710	)		(1,351	)
Total 5.875% Senior Notes Due in 2022	$	193,248		$	192,607
Non-Recourse Debt:
Non-Recourse Debt	$	344,614		$	328,178
Unamortized debt issuance costs on non-recourse debt		(5,237	)		(5,279	)
Discount on Non-Recourse Debt		(25	)		(81	)
Total Non-Recourse Debt	$	339,352		$	322,818
Finance Lease Obligations		5,029			4,570
Other debt		42,413			43,410
Total debt	$	2,915,272		$	2,744,695
Current portion of finance lease obligations, long-term debt and non-recourse debt		(26,180	)		(24,208	)
Finance Lease Obligations, long-term portion		(2,988	)		(2,954	)
Non-Recourse Debt, long-term portion		(324,223	)		(309,236	)
Long-Term Debt	$	2,561,881		$	2,408,297

Amended and Restated 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 has been extended to May 17, 2024. The borrowing capacity under the amended revolver will remain at $900 million, and its pricing will remain unchanged, currently bearing interest at LIBOR plus 2.25%. As a result of the transaction, the Company incurred a loss on extinguishment of debt of $1.2 million related to certain unamortized deferred loan costs. Additionally, loan costs of $4.7 million were incurred and capitalized in connection with the transaction.

The Credit Agreement evidences a credit facility (the "Credit Facility") consisting of the $792.0 million term loan discussed above (the "Term Loan") bearing interest at LIBOR plus 2.00% (with a LIBOR floor of 0.75%), and a $900 million Revolver initially bearing interest at LIBOR plus 2.25% (with no LIBOR floor) together with AUD275 million 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 December 31, 2020, 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.

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 by and among GEO and HSBC Bank Australia Limited (the “Letter of Offer”) providing for a bank guarantee line and bank guarantee/standby sub-facility in an aggregate amount of AUD100 million, or $77.1 million, based on exchange rates in effect as of December 31, 2020 (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 secure facility project in Ravenhall, located near Melbourne, Australia. In accordance with the Ravenhall Contract, upon the completion of a certain period of operations, the Bank Guarantee Facility was reduced during the fourth quarter of 2019 to approximately AUD59 million, or $45.5 million, based on exchange rates in effect as of December 31, 2020. 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 HSBC Bank Australia Limited on 90 days written notice. As of December 31, 2020, there was approximately AUD59 million in letters of credit issued under the Bank Guarantee Facility.

As of December 31, 2020, the Company had $770.0 million in aggregate borrowings outstanding under the Term Loan, $704.4 million in borrowings under the Revolver, and approximately $59.6 million in letters of credit which left $136.0 million in additional borrowing capacity under the Revolver. In addition, the Company has the ability to increase the Senior Credit Facility by an additional $450.0 million, subject to lender demand and prevailing market conditions and satisfying the relevant borrowing conditions thereunder. The weighted average interest rate on outstanding borrowings under the Credit Agreement as of December 31, 2020 was 2.58%.

6.00% Senior Notes due 2026

On April 18, 2016, the Company completed an offering of $350.0 million aggregate principal amount of 6.00% senior notes due 2026. The 6.00% Senior Notes were offered and sold in a registered offering pursuant to an underwriting agreement, dated as of April 11, 2016 (the “Underwriting Agreement”) among the Company, certain of the Company’s domestic subsidiaries, as guarantors and the representative for the underwriters named therein. The 6.00% Senior Notes were issued by the Company pursuant to the Indenture, dated as of September 25, 2014 (the “Base Indenture”), by and between the Company and the trustee, as supplemented by a Second Supplemental Indenture, dated as of April 18, 2016 (the “Second Supplemental Indenture” and together with the Base Indenture, the “Indenture”), by and among the Company, the guarantors and the trustee which governs the terms of the 6.00% Senior Notes. The sale of the 6.00% Senior Notes was registered under GEO’s prior shelf registration statement on Form S-3 filed on September 12, 2014, as amended (File No. 333-198729). The 6.00% Senior Notes were issued at a coupon rate and yield to maturity of 6.00%. Interest on the 6.00% Senior Notes is payable semi-annually on April 15 and October 15 of each year, commencing on October 15, 2016. The 6.00% Senior Notes mature on April 15, 2026. The Company used the net proceeds to fund the tender offer and the redemption of all of its 6.625% Senior Notes (see discussion below), to pay all related fees, costs and expenses and for general corporate purposes including repaying borrowings under the Company's Revolver.

Up to 35% of the aggregate principal amount of the 6.00% Senior Notes could have been redeemed on or prior to April 15, 2019, with the net cash proceeds from certain equity offerings at a redemption price equal to 106.000% of their principal amount, plus accrued and unpaid interest, if any, to the redemption date. In addition, GEO may, at its option, redeem the 6.00% Senior Notes in whole or in part before April 15, 2021 at a redemption price equal to 100% of the principal amount of the 6.00% Senior Notes being redeemed plus a “make-whole” premium, together with accrued and unpaid interest, if any, to the redemption date.

On or after April 15, 2021, GEO may, at its option, redeem all or part of the 6.00% Senior Notes upon not less than 30 nor more than 60 days’ notice, at the redemption prices (expressed as percentages of principal amount) set forth below, plus accrued and unpaid interest, if any, on the 6.00% Senior Notes redeemed, to the applicable redemption date, if redeemed during the 12-month period beginning on April 15 of the years indicated below:

Year	Percentage
2022		102.000	%
2023		101.000	%
2024 and thereafter		100.000	%

If there is a “change of control” (as defined in the Indenture), holders of the 6.00% Senior Notes will have the right to cause GEO to repurchase their 6.00% Senior Notes at a price equal to 101% of the principal amount of the 6.00% Senior Notes repurchased plus accrued and unpaid interest, if any, to the purchase date.

The 6.00% Senior Notes are guaranteed on a senior unsecured basis by the guarantors. The 6.00% Senior Notes and the guarantees are unsecured, unsubordinated obligations of GEO and the guarantors. The 6.00% Senior Notes rank equally in right of payment with any unsecured, unsubordinated indebtedness of GEO and the guarantors, including GEO’s 5.875% Senior Notes due 2022, the 5.125% Senior Notes due 2023 and the 5.875% Senior Notes due 2024, and the guarantors’ guarantees thereof, senior in right of payment to any future indebtedness of GEO and the guarantors that is expressly subordinated to the 6.00% Senior Notes and the guarantees, effectively junior to any secured indebtedness of GEO and the guarantors, including indebtedness under GEO’s Senior Credit Facility, to the extent of the value of the assets securing such indebtedness, and structurally junior to all obligations of GEO’s subsidiaries that are not guarantors, including trade payables.

The Indenture contains covenants which, among other things, limit the ability of GEO and its “restricted subsidiaries” (as defined in the Indenture) to incur additional indebtedness or issue preferred stock, make dividend payments or other restricted payments (other than the payment of dividends or other distributions, or any other actions necessary to maintain GEO’s status as a real estate investment trust), create liens, sell assets, engage in sale and lease back transactions, create or permit restrictions on the ability of the restricted subsidiaries to pay dividends or make other distributions to GEO, enter into transactions with affiliates, and enter into mergers, consolidations or sales of all or substantially all of their assets. These covenants are subject to a number of limitations and exceptions as set forth in the Indenture. The Company was in compliance with all of the covenants of the indenture governing the 6.00% Senior Notes as of December 31, 2020.

The Indenture also contains events of default with respect to, among other things, the following: failure by GEO to pay interest on the 6.00% Senior Notes when due, which failure continues for 30 days; failure by GEO to pay the principal of, or premium, if any, on, the 6.00% Senior Notes when due; failure by GEO or any of its restricted subsidiaries to comply with their obligations to offer to repurchase the 6.00% Senior Notes at the option of the holders of the 6.00% Senior Notes upon a change of control, to offer to redeem the 6.00% Senior Notes under certain circumstances in connection with asset sales with “excess proceeds” (as defined in the Indenture) in excess of $50.0 million or to observe certain restrictions on mergers, consolidations and sales of substantially all of their assets; the failure by GEO or any guarantor to comply with any of the other agreements in the Indenture, which failure continues for 60 days after notice; and certain events of bankruptcy or

insolvency of GEO or a restricted subsidiary that is a significant subsidiary or any group of restricted subsidiaries that together would constitute a significant subsidiary.

5.875% Senior Notes due 2024

On September 25, 2014, the Company completed an offering of $250.0 million aggregate principal amount of senior unsecured notes (the “5.875% Senior Notes due 2024”). The notes will mature on October 15, 2024 and have a coupon rate and yield to maturity of 5.875%. Interest is payable semi-annually in cash in arrears on April 15 and October 15, beginning April 15, 2015. The 5.875% Senior Notes due 2024 are guaranteed on a senior unsecured basis by all the Company’s restricted subsidiaries that guarantee obligations. The 5.875% Senior Notes due 2024 rank equally in right of payment with any unsecured, unsubordinated indebtedness of the Company and the guarantors, including the Company’s 5.875% Senior Notes due 2022, the 5.125% Senior Notes due 2023, the 6.00% Senior Notes due 2026, and the guarantors’ guarantees thereof, senior in right of payment to any future indebtedness of the Company and the guarantors that is expressly subordinated to the 5.875% Senior Notes due 2024 and the guarantees, effectively junior to any secured indebtedness of the Company and the guarantors, including indebtedness under the Company’s Senior Credit Facility, to the extent of the value of the assets securing such indebtedness, and structurally junior to all obligations of the Company’s subsidiaries that are not guarantors. The sale of the 5.875% Senior Notes due 2024 was registered under the Company’s prior shelf registration statement on Form S-3 filed on September 12, 2014, as supplemented by the Preliminary Prospectus Supplement filed on September 22, 2014 and the Prospectus Supplement filed on September 24, 2014.

The Company could have, at its option, redeemed the 5.875% Senior Notes due 2024 in whole or in part before October 15, 2019 at a redemption price equal to 100% of the principal amount of the 5.875% Senior Notes due 2024 being redeemed plus a “make-whole” premium, together with accrued and unpaid interest, if any, to the redemption date. In addition, the Company may, at its option, redeem the 5.875% Senior Notes due 2024 in whole or in part on or after October 15, 2019 through 2024 and thereafter as indicated below:

Year	Percentage
2021		100.979	%
2022 and thereafter		100.000	%

The indenture contains covenants which, among other things, limit the ability of the Company and its restricted subsidiaries to incur additional indebtedness or issue preferred stock, make dividend payments or other restricted payments (other than the payment of dividends or other distributions, or any other actions necessary to maintain the Company’s status as a real estate investment trust), create liens, sell assets, engage in sale and lease back transactions, create or permit restrictions on the ability of the restricted subsidiaries to pay dividends or make other distributions to the Company, enter into transactions with affiliates, and enter into mergers, consolidations or sales of all or substantially all of their assets. These covenants are subject to a number of limitations and exceptions as set forth in the indenture. The Company was in compliance with all of the covenants of the indenture governing the 5.875% Senior Notes due 2024 as of December 31, 2020.

The indenture also contains events of default with respect to, among other things, the following: failure by the Company to pay interest on the 5.875% Senior Notes due 2024 when due, which failure continues for 30 days; failure by the Company to pay the principal of, or premium, if any, on, the 5.875% Senior Notes due 2024 when due; failure by the Company or any of its restricted subsidiaries to comply with their obligations to offer to repurchase the 5.875% Senior Notes due 2024 at the option of the holders of the 5.875% Senior Notes due 2024 upon a change of control, to offer to redeem the 5.875% Senior Notes due 2024 under certain circumstances in connection with asset sales with excess proceeds in excess of $25.0 million or to observe certain restrictions on mergers, consolidations and sales of substantially all of their assets; the failure by the Company or any guarantor to comply with any of the other agreements in the indenture, which failure continues for 60 days after notice; and certain events of bankruptcy or insolvency of GEO or a restricted subsidiary that is a significant subsidiary or any group of restricted subsidiaries that together would constitute a significant subsidiary.

5.125% Senior Notes due 2023

On March 19, 2013, the Company completed an offering of $300.0 million aggregate principal amount of senior unsecured notes in a private offering under the Indenture dated as of March 19, 2013 among GEO, certain of its domestic subsidiaries, as guarantors, and the trustee. The 5.125% Senior Notes were offered and sold to "qualified institutional buyers" in accordance with Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and outside the United States to non-U.S. persons in accordance with Regulation S under the Securities Act. The notes will mature on April 1, 2023 and have a coupon rate and yield to maturity of 5.125%. Interest is payable semi-annually on April 1 and October 1 each year, beginning October 1, 2013. The 5.125% Senior Notes are guaranteed on a senior unsecured basis by all of the Company's restricted subsidiaries that guarantee obligations under the Senior Credit Facility, the Company's 6.00% Senior Notes, the Company's 5.875% Senior Notes due 2022 and the 5.875% Senior Notes due 2024. The 5.125% Senior Notes and the guarantees are the Company's general unsecured senior obligations and rank equally in right of payment with all of the Company's and the guarantors' existing and future unsecured senior debt, including the Company's 6.00% Senior Notes, the 5.875% Senior Notes due 2022 and the 5.875% Senior Notes due 2024. The 5.125% Senior Notes and the guarantees are effectively subordinated to any of the Company's and the guarantors' existing and future secured debt to the extent of the value of the assets securing such debt, including all anticipated borrowings under the Senior Credit

Facility. The 5.125% Senior Notes are structurally subordinated to all existing and future liabilities (including trade payables) of the Company's subsidiaries that do not guarantee the 5.125% Senior Notes.

At any time prior to April 1, 2018, the Company could have, at its option, redeemed all or a part of the 5.125% Senior Notes upon not less than 30 days nor more than 60 days prior notice at a redemption price equal to the sum of (i) 100% of the principal amount thereof, plus (ii) the Applicable Premium (as defined in the indenture) as of the date of redemption, plus (iii) accrued and unpaid interest and liquidated damages, if any, to the date of redemption. On or after April 1, 2018, the Company may, at its option, redeem all or a part of the 5.125% Senior Notes upon not less than 30 days nor more than 60 days notice at the redemption prices (expressed as percentages of principal amount) set forth below, plus accrued and unpaid interest and liquidated damages, if any, on the 5.125% Senior Notes redeemed, to the applicable redemption date, if redeemed during the period beginning on April 1 of the years indicated below:

Year	Percentage
2021 and thereafter		100.000	%

If there is a "change of control" (as defined in the Indenture), holders of the 5.125% Senior Notes will have the right to cause GEO to repurchase their 5.125% Senior Notes at a price equal to 101% of the principal amount of the 5.125% Senior Notes repurchased plus accrued and unpaid interest and liquidated damages, if any, to the purchase date.

The indenture governing the 5.125% Senior Notes contains certain covenants, including limitations and restrictions on the Company and its restricted subsidiaries’ ability to: incur additional indebtedness or issue preferred stock; make dividend payments or other restricted payments; create liens; sell assets; enter into transactions with affiliates; and enter into mergers, consolidations or sales of all or substantially all of the Company’s assets. As of the date of the indenture, all of the Company’s subsidiaries, other than certain dormant domestic and other subsidiaries and all foreign subsidiaries in existence on the date of the indenture, were restricted subsidiaries. The Company’s failure to comply with certain of the covenants under the indenture governing the 5.125% Senior Notes could cause an event of default of any indebtedness and result in an acceleration of such indebtedness. In addition, there is a cross-default provision which becomes enforceable upon failure of payment of indebtedness at final maturity. The Company’s unrestricted subsidiaries will not be subject to any of the restrictive covenants in the indenture. The Company was in compliance with all of the covenants of the indenture governing the 5.125% Senior Notes as of December 31, 2020.

The indenture also contains events of default with respect to, among other things, the following: failure by the Company to pay interest and liquidated damages, if any, on the 5.125% Senior Notes when due, which failure continues for 30 days; failure by the Company to pay the principal of, or premium, if any, on, the 5.125% Senior Notes when due; failure by the Company or any of its restricted subsidiaries to comply with their obligations to offer to repurchase the 5.125% Senior Notes at the option of the holders of the 5.125% Senior Notes upon a change of control, to offer to redeem notes under certain circumstances in connection with asset sales with “excess proceeds” (as defined in the indenture) in excess of $25.0 million or to observe certain restrictions on mergers, consolidations and sales of substantially all of their assets; the failure by the Company or any guarantor to comply with any of the other agreements in the indenture, which failure continues for 60 days after notice; and certain events of bankruptcy or insolvency of the Company or a restricted subsidiary that is a significant subsidiary or any group of restricted subsidiaries that together would constitute a significant subsidiary.

5.875% Senior Notes due 2022

On October 3, 2013, the Company completed an offering of $250.0 million aggregate principal amount of senior notes due 2022 (the “5.875% Senior Notes due 2022”) in a private offering under the Indenture dated as of October 3, 2013 among GEO, certain of its domestic subsidiaries, as guarantors, and the trustee. The 5.875% Senior Notes due 2022 were offered and sold to “qualified institutional buyers” in accordance with Rule 144A under the Securities Act, and outside the United States to non-U.S. persons in accordance with Regulations S under the Securities Act. The 5.875% Senior Notes due 2022 were issued at a coupon rate and yield to maturity of 5.875%. Interest on the 5.875% Senior Notes due 2022 is payable semi-annually in cash in arrears on January 15 and July 15, commencing on January 15, 2014. The 5.875% Senior Notes due 2022 mature on January 15, 2022. The 5.875% Senior Notes due 2022 and the guarantees are the Company's general unsecured senior obligations and rank equally in right of payment with all of the Company's and the guarantors' existing and future unsecured senior debt, including the Company's 6.00% Senior Notes, the 5.125% Senior Notes and the 5.875% Senior Notes due 2024. The 5.875% Senior Notes due 2022 and the guarantees are effectively subordinated to any of the Company's and the guarantors' existing and future secured debt to the extent of the value of the assets securing such debt, including all anticipated borrowings under the Senior Credit Facility. The 5.875% Senior Notes due 2022 are structurally subordinated to all existing and future liabilities (including trade payables) of the Company's subsidiaries that do not guarantee the 5.875% Senior Notes due 2022.

On or after January 15, 2017, GEO may, at its option, redeem all or part of the 5.875% Senior Notes 2022 upon not less than 30 days nor more than 60 days’ notice, at the redemption prices (expressed as percentages of principal amount) set forth below, plus accrued and unpaid interest and including liquidated damages, if any, on the 5.875% Senior Notes due 2022 redeemed, to the applicable redemption date, if redeemed during the 12-month period beginning on January 15 of the years indicated below:

Year		Percentage
2021 and thereafter			100.000	%

If there is a “change of control” (as defined in the Indenture), holders of the 5.875% Senior Notes due 2022 will have the right to cause GEO to repurchase their 5.875% Senior Notes due 2022 at a price equal to 101% of the principal amount of the 5.875% Senior Notes due 2022 repurchased plus accrued and unpaid interest and liquidated damages, if any, to the purchase date.

The indenture governing the notes contains certain covenants, including limitations and restrictions on the Company and its restricted subsidiaries’ ability to: incur additional indebtedness or issue preferred stock; make dividend payments or other restricted payments; create liens; sell assets; enter into transactions with affiliates; and enter into mergers, consolidations or sales of all or substantially all of the Company’s assets. As of the date of the indenture, all of the Company’s subsidiaries, other than certain dormant domestic and other subsidiaries and all foreign subsidiaries in existence on the date of the indenture, were restricted subsidiaries. The Company’s failure to comply with certain of the covenants under the indenture governing the 5.875% Senior Notes due 2022 could cause an event of default of any indebtedness and result in an acceleration of such indebtedness. In addition, there is a cross-default provision which becomes enforceable upon failure of payment of indebtedness at final maturity. The Company’s unrestricted subsidiaries will not be subject to any of the restrictive covenants in the indenture. The Company was in compliance with all of the financial covenants of the indenture governing the 5.875% Senior Notes due 2022 as of December 31, 2020.

The Indenture also contains events of default with respect to, among other things, the following: failure by GEO to pay interest and liquidated damages, if any, on the 5.875% Senior Notes due 2022 when due, which failure continues for 30 days; failure by GEO to pay the principal of, or premium, if any, on, the 5.875% Senior Notes due 2022 when due; failure by GEO or any of its restricted subsidiaries to comply with their obligations to offer to repurchase the 5.875% Senior Notes due 2022 at the option of the holders of the 5.875% Senior Notes due 2022 upon a change of control, to offer to redeem notes under certain circumstances in connection with asset sales with “excess proceeds” (as defined in the Indenture) in excess of $25.0 million or to observe certain restrictions on mergers, consolidations and sales of substantially all of their assets; the failure by GEO or any guarantor to comply with any of the other agreements in the Indenture, which failure continues for 60 days after notice; and certain events of bankruptcy or insolvency of GEO or a restricted subsidiary that is a significant subsidiary or any group of restricted subsidiaries that together would constitute a significant subsidiary.

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, privately negotiated transactions, or otherwise, up to an aggregate maximum of $100.0 million, subject to certain limitations through December 31, 2020. On February 11, 2021, the Company’s Board of Directors authorized a new repurchase program for repurchases/retirements of the above referenced Senior Notes and term loan, subject to certain limitations up to an aggregate maximum of $100.0 million through December 2022.

During 2020, the Company repurchased approximately $7.5 million in aggregate principal amount of its 5.875% Senior Notes due 2024 at a weighted average price of 77.28% for a total cost of $5.8 million. Additionally, during 2020, the Company repurchased approximately $18.2 million in aggregate principal amount of its 5.125% Senior Notes due 2023 at a weighted average price of 78.99% for a total cost of $14.3 million. As a result of these repurchases, the Company recognized a net gain on extinguishment of debt of $5.3 million during the year ended December 31, 2020.

During 2019, the Company repurchased approximately $56.0 million in aggregate principal amount of its 5.875% Senior Notes due 2022 at a weighted average price of 97.55% for a total cost of $54.7 million. As a result of these repurchases, the Company recognized a net gain on extinguishment of debt of $0.9 million during the year ended December 31, 2019.

Non-Recourse Debt

Northwest ICE Processing Center

On December 9, 2011, the Washington Economic Development Finance Authority issued $54.4 million of its Washington Economic Development Finance Authority Taxable Economic Development Revenue Bonds, series 2011 (“2011 Revenue Bonds”). The bonds were rated AA- by Standard & Poor’s Ratings Services and the scheduled payment of principal and interest is guaranteed by municipal bond insurance issued by Assured Guaranty Municipal Corp. The 2011 Revenue Bonds have an average all-in cost of approximately 6.4%, including debt

issuance costs and the bond discount, and maturity dates ranging through October 1, 2021. The 2011 Revenue Bonds were issued to provide funds to make a loan to CSC for purposes of reimbursing GEO for costs incurred by GEO for the 2009 expansion of the Northwest ICE Processing Center and paying the costs of issuing the 2011 Revenue Bonds. The payment of principal and interest on the bonds is non-recourse to GEO. None of the bonds nor CSC’s obligations under the loan are obligations of GEO nor are they guaranteed by GEO.

As of December 31, 2020, the remaining balance of the debt service requirement related to the 2011 Revenue Bonds is $8.1 million, all of which is classified as current in the accompanying balance sheet. As of December 31, 2020, included in restricted cash and investments is $3.7 million (all current) of funds held in trust with respect to the Northwest ICE Processing Center for debt service and other reserves which had not been released to the Company as of December 31, 2020.

Australia - Ravenhall

In connection with a design and build facility 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. Refer to Note 6 - Contract Receivable. The Construction Facility provided for non-recourse funding up to AUD 791.0 million, or $609.8 million, based on exchange rates as of December 31, 2020. Construction draws were funded throughout the project according to a fixed utilization schedule as defined in the syndicated facility agreement. The term of the Construction Facility was through September 2019 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 AUD 461.6 million, or $355.9 million, based on exchange rates as of December 31, 2020, 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 loan 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 promissory 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 promissory 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 at 4.22%. Included in the balance at December 31, 2019 is $0.7 million of deferred loan costs incurred in the transaction. Refer to Note 7 - Derivative Financial Instruments for further information.

Debt Repayment

Debt repayment schedules under Finance Lease Obligations, Long-Term Debt, Non-Recourse Debt and the Senior Credit Facility are as follows:

Fiscal Year	Finance Leases			Long-Term Debt			Non- Recourse Debt			Revolver		Term Loans			Total Annual Repayment
	(In thousands)
2021	$	2,433		$	1,071		$	15,446		$	—	$	8,000		$	26,950
2022		1,729			195,075			8,487			—		8,000			213,291
2023		497			282,949			9,033			—		8,000			300,479
2024		497			243,708			9,549			704,437		746,000			1,704,191
2025		274			1,274			10,274			—		—			11,822
Thereafter		—			387,262			291,825			—		—			679,087
		5,430			1,111,339			344,614			704,437		770,000			2,935,820
Interest imputed on Capital Leases		(401	)		—			—			—		—			(401	)
Original issue discount		—			—			(25	)		—		(1,705	)		(1,730	)
Current portion		(2,041	)		(1,071	)		(15,446	)		—		(8,000	)		(26,558	)
Non-current portion	$	2,988		$	1,110,268		$	329,143		$	704,437	$	760,295		$	2,907,131

Guarantees

The Company has entered into certain guarantees in connection with the performance of a facility in Australia (Refer to Note 6 - Contract Receivable). The obligations amounted to approximately AUD59 million, or $45.5 million, based on exchange rates in effect as of December 31, 2020. These guarantees are secured by outstanding letters of credit under the Company's Revolver as of December 31, 2020.

At December 31, 2020, the Company also had seven letters of guarantee outstanding under separate international facilities relating to performance guarantees of its Australian subsidiary totaling $10.3 million.

In connection with the creation of South African Custodial Services Pty. Limited ("SACS"), the Company entered into certain guarantees related to the financing, construction and operation of the South African facility. The Company guaranteed certain obligations of SACS under its debt agreements to SACS' former senior lenders through the issuance of letters of credit under the Company's Revolver. In July 2018, SACS settled all amounts due under the debt facilities and has therefore discharged the guaranteed obligations, therefore the guarantees related to these obligations were no longer necessary and the letters of credit were not renewed. Additionally, SACS was required to maintain funding in a rectification account maintained for the payment of certain costs in the event of contract termination. SACS has met the required funding obligation and there is no further requirement to maintain the required funding rectification account.

In addition to the above, the Company had also agreed to provide a loan, if required, of up to 20.0 million South African Rand, or $1.4 million based on exchange rates as of December 31, 2020, referred to as the shareholder's standby facility, to SACS for the purpose of financing SACS’ obligations under its contract with the South African government. No amounts have been funded under the shareholder's standby facility. The Company’s obligations under the shareholder's standby facility expired upon SACS’ release from its obligations under the common terms agreement in February 2019 with the final payment of the facility management fees.

The Company also guaranteed certain obligations of SACS to the security trustee for SACS’ lenders. The Company secured its guarantee to the security trustee by ceding its rights to claims against SACS in respect of any loans or other finance agreements, and by pledging the Company’s shares in SACS. The Company’s liability under the guarantee is limited to the cession and pledge of shares. The guarantee expired in February 2019 when all of SACS' obligations in terms of the finance agreements were settled.

In connection with the creation of GEOAmey, the Company and its joint venture partner guarantee the availability of working capital in equal proportion to ensure that GEOAmey can comply with current and future contractual commitments related to the performance of its operations. The Company and the 50% joint venture partner had each extended a £12.0 million line of credit to the joint venture. The Company’s maximum exposure relative to the joint venture was its note receivable and future financial support necessary to guarantee performance under the contract. In October 2018, the notes receivable to each joint venture partner were paid off in full.

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

Leases

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Leases

13.

Leases

On January 1, 2019, the Company adopted Accounting Standard Update ("ASU") No. 2016-02, "Leases" (Topic 842) which requires that entities record lease assets and lease liabilities on the balance sheet and disclose key information about leasing arrangements. The Company implemented the new standard using the transition method that provided for adoption on the adoption date and recognizing a cumulative-effect adjustment to retained earnings, if any, upon adoption. Therefore, the consolidated financial statements for the year ended December 31, 2020 and 2019 are presented under the new standard, while comparative years presented are not adjusted and continue to be reported in accordance with the Company's historical accounting policy. Refer to Note 1 - Summary of Business Organization, Operations and Significant Accounting Policies - Recent Accounting Pronouncements for further information.

The Company has operating and finance leases for facilities, ground leases, office space, computers, copier equipment and transportation vehicles that have remaining lease terms of one year to seventy-seven years, some of which include options to extend the lease for up to ten years. For leases with terms greater than 12 months, the Company records the related asset and obligation at the present value of the lease payments over the term of the lease. Many of GEO's leases include rental escalation clauses, renewal options and/or termination options that are factored into the determination of lease payments when appropriate. Only renewal or termination options that are reasonably certain to be exercised by the Company are included in the lease term which is used in the calculation of lease liabilities and right-of-use assets. GEO does not typically enter into lease agreements that contain a residual guarantee or that provide for variable lease payments.

When available, GEO uses the rate implicit in the lease to discount lease payments to present value, however, most of GEO's lease agreements do not provide a readily determinable implicit rate. Therefore, the Company must estimate its incremental borrowing rate to discount the lease payments based on information available at lease commencement.

Lease related assets and liabilities are recorded on the balance sheet as follows (in thousands):

	Classification on the Balance Sheet	December 31, 2020
Assets
Operating lease assets	Operating Lease Right-of-Use Assets, Net	$	124,727
Finance lease assets	Property and Equipment, Net		3,914
Total lease assets		$	128,641

Liabilities
Current
Operating	Operating lease liabilities, current portion	$	29,080
Finance [1]	Current portion of finance liabilities, long-term debt and non-recourse debt		2,041
Noncurrent
Operating	Operating Lease Liabilities		101,375
Finance [1]	Finance Lease Liabilities		2,988
Total lease liabilities		$	135,484

[1] Also refer to Note 12 - Debt.

Certain information related to the lease costs for finance and operating leases is presented as follows (in thousands):

	Year Ended December 31, 2020
Operating lease cost	$	39,506
Finance lease cost:
Amortization of right-of-use assets		1,225
Interest on lease liabilities		352
Total finance lease cost		1,577
Short-term lease cost		3,293
Total lease cost	$	44,376
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$	38,847
Operating cash flows for finance leases	$	276
Financing activities for finance leases	$	1,918
Right-of-use assets obtained in exchange for new operating lease liabilities	$	23,940
Right-of-use assets obtained in exchange for new finance lease liabilities	$	2,260
Weighted average remaining lease term:
Operating leases	6.8 years
Finance leases	2.9 years
Weighted average discount rate:
Operating leases		4.65	%
Finance leases		6.47	%

Undiscounted Cash Flows

The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the operating lease liabilities and finance lease liabilities recorded on the balance sheet as of December 31, 2020 (in thousands).

	Operating Leases			Finance Leases
2021	$	36,219		$	2,433
2022		27,388			1,729
2023		22,588			497
2024		19,235			497
2025		11,130			274
Thereafter		37,287			—
Total minimum lease payments		153,847			5,430
Less: amount of lease payment representing interest		(23,392	)		(401	)
Present value of future minimum lease payments		130,455			5,029
Less: current obligations under leases		(29,080	)		(2,041	)
Long-term lease obligations	$	101,375		$	2,988

Leases

13.

Leases

Lease related assets and liabilities are recorded on the balance sheet as follows (in thousands):

	Classification on the Balance Sheet	December 31, 2020
Assets
Operating lease assets	Operating Lease Right-of-Use Assets, Net	$	124,727
Finance lease assets	Property and Equipment, Net		3,914
Total lease assets		$	128,641

Liabilities
Current
Operating	Operating lease liabilities, current portion	$	29,080
Finance [1]	Current portion of finance liabilities, long-term debt and non-recourse debt		2,041
Noncurrent
Operating	Operating Lease Liabilities		101,375
Finance [1]	Finance Lease Liabilities		2,988
Total lease liabilities		$	135,484

[1] Also refer to Note 12 - Debt.

Certain information related to the lease costs for finance and operating leases is presented as follows (in thousands):

	Year Ended December 31, 2020
Operating lease cost	$	39,506
Finance lease cost:
Amortization of right-of-use assets		1,225
Interest on lease liabilities		352
Total finance lease cost		1,577
Short-term lease cost		3,293
Total lease cost	$	44,376
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$	38,847
Operating cash flows for finance leases	$	276
Financing activities for finance leases	$	1,918
Right-of-use assets obtained in exchange for new operating lease liabilities	$	23,940
Right-of-use assets obtained in exchange for new finance lease liabilities	$	2,260
Weighted average remaining lease term:
Operating leases	6.8 years
Finance leases	2.9 years
Weighted average discount rate:
Operating leases		4.65	%
Finance leases		6.47	%

Undiscounted Cash Flows

	Operating Leases			Finance Leases
2021	$	36,219		$	2,433
2022		27,388			1,729
2023		22,588			497
2024		19,235			497
2025		11,130			274
Thereafter		37,287			—
Total minimum lease payments		153,847			5,430
Less: amount of lease payment representing interest		(23,392	)		(401	)
Present value of future minimum lease payments		130,455			5,029
Less: current obligations under leases		(29,080	)		(2,041	)
Long-term lease obligations	$	101,375		$	2,988

Benefit Plans

12 Months Ended

Dec. 31, 2020

Compensation And Retirement Disclosure [Abstract]

Benefit Plans

14.	Benefit Plans

The Company’s employees participate in an Employee Retirement Savings Plan (the “Retirement Plan”) under Section 401(k) of the Internal Revenue Code that covers substantially all U.S. based salaried employees. Employees may contribute a percentage of eligible compensation to the plan, subject to certain limits under the Internal Revenue Code. For the years ended December 31, 2020, 2019 and 2018, the Company provided matching contributions of $8.3 million, $5.3 million and $5.9 million, respectively.

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. There were no significant transactions between the employer or related parties and the plans during 2020, 2019 or 2018.

The Company has a non-qualified deferred compensation agreement with its Chief Executive Officer (“CEO”). The agreement provides for a lump sum payment upon retirement, no sooner than age 55. As of December 31, 2020, the CEO had reached age 55 and was eligible to receive the payment upon retirement. If the Company’s CEO had retired as of December 31, 2020, the Company would have had to pay him approximately $8.9 million in shares of the Company’s common stock (determined as of February 26, 2020) plus additional shares credited for dividends declared and paid on the shares of the Company’s common stock as further discussed below.

On February 26, 2020 (the "Effective Date"), the Company and its CEO entered into an amended and restated executive retirement agreement that amends the CEO’s executive retirement agreement discussed above.

The amended and restated executive retirement agreement provides that upon the CEO’s retirement from the Company, the Company will pay a lump sum amount equal to $8,925,065 (determined as of February 26, 2020) (the “Grandfathered Payment”) which will be paid in the form of a fixed number of shares of the Company’s common stock. The Grandfathered Payment will be delayed for six months and a day following the effective date of the CEO’s termination of employment in compliance with Section 409A of the Internal Revenue Code of 1986, as amended.

On the Effective Date, an amount equal to the Grandfathered Payment was invested in the Company’s common stock (“GEO Shares”). The number of the Company’s shares of common stock as of the Effective Date was equal to the Grandfathered Payment divided by the closing price of the Company’s common stock on the Effective Date (rounded up to the nearest whole number of shares), which equals 553,665 shares of the Company’s common stock. Additional shares of the Company’s common stock will be credited with a value equal to any dividends declared and paid on the Company’s shares of common stock, calculated by reference to the closing price of the Company’s common stock on the payment date for such dividends (rounded up to the nearest whole number of shares).

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.

The Company repurchased shares of its outstanding common stock under its stock buyback program and contributed such shares to the trusts in order to fund the retirement benefit under the amended and restated executive retirement agreement. In accordance with Accounting Standards Codification (“ASC”) 710 – Compensation-General, the shares of common stock held in the rabbi trusts are classified as treasury stock. In addition, the amended and restated executive retirement agreement qualifies for equity accounting under ASC 710 and therefore, the fair value of the Grandfathered Payment has been reclassified to stockholders’ equity.

The long-term portion of the pension liability related to the defined benefit plans and the deferred compensation agreement with the CEO as of December 31, 2020 and 2019 was $33.2 million and $37.2 million, respectively, and is included in Other Non-Current liabilities in the accompanying consolidated balance sheets.

The following table summarizes key information related to the Company’s pension plans and retirement agreements. The table illustrates the reconciliation of the beginning and ending balances of the benefit obligation showing the effects during the periods presented attributable to service cost, interest cost, plan amendments, termination benefits, actuarial gains and losses. The assumptions used in the Company’s calculation of accrued pension costs are based on market information and the Company’s historical rates for employment compensation and discount rates.

	December 31, 2020			December 31, 2019
Accumulated Benefit Obligation, End of Year	$	25,229		$	30,139

Change in Projected Benefit Obligation
Projected Benefit Obligation, Beginning of Year	$	37,551		$	32,474
Service Cost		1,254			998
Interest Cost		1,306			1,393
Other reclassification [1]		(8,925	)		—
Actuarial (Gain) Loss		3,180			3,449
Benefits Paid		(836	)		(763	)
Projected Benefit Obligation, End of Year	$	33,530		$	37,551
Change in Plan Assets
Plan Assets at Fair Value, Beginning of Year	$	—		$	—
Company Contributions		836			763
Benefits Paid		(836	)		(763	)
Plan Assets at Fair Value, End of Year	$	—		$	—
Unfunded Status of the Plan	$	(33,530	)	$	(37,551	)
Amounts Recognized in Accumulated Other Comprehensive Income
Net Loss		10,925			8,285
Total Pension Cost	$	10,925		$	8,285

	2020			2019
Components of Net Periodic Benefit Cost
Service Cost	$	1,254		$	998
Interest Cost		1,306			1,393
Amortization of:
Net Loss		540			210
Net Periodic Pension Cost	$	3,100		$	2,601
Weighted Average Assumptions for Expense
Discount Rate		2.80	%		3.40	%
Expected Return on Plan Assets	N/A			N/A
Rate of Compensation Increase		4.40	%		4.40	%

[1] Represents the reclassification of the fair value of the Grandfathered Payment under the amended and restated executive retirement agreement as discussed above.

The amount included in accumulated other comprehensive income as of December 31, 2020 that has not yet been recognized as a component of net periodic benefit cost is $10.9 million. The amount included in other accumulated comprehensive income as of December 31, 2020 that is expected to be recognized as a component of net periodic benefit cost in fiscal year 2021 is $0.8 million.

The benefit payments reflected in the table below represent the Company’s obligations to employees that are eligible for retirement or have already retired and are receiving deferred compensation benefits:

Fiscal Year	Pension Benefits
	(In thousands)
2021	$	921
2022		913
2023		904
2024		994
2025		1,062
Thereafter		28,736
	$	33,530

The Company also maintains The GEO Group Inc. Deferred Compensation Plan (“Deferred Compensation Plan”), a non-qualified deferred compensation plan for employees who are ineligible to participate in its qualified 401(k) plan. Eligible employees may defer a fixed percentage of their salary and the Company matches employee contributions up to a certain amount based on the employee’s years of service. Payments will be made at retirement age of 65, at termination of employment or earlier depending on the employees’ elections. The Company established a rabbi trust; the purpose of which is to segregate the assets of the Deferred Compensation Plan from the Company’s cash balances. The funds in the rabbi trust are included in Restricted Cash and Investments in the accompanying Consolidated Balance Sheets. These funds are not available to the Company for any purpose other than to fund the Deferred Compensation Plan; however, these funds may be available to the Company’s creditors in the event the Company becomes insolvent. The rabbi trust had a balance of approximately $35.7 million at December 31, 2020. All employee and employer contributions relative to the Deferred Compensation Plan are made directly to the rabbi trust. The Company recognized expense related to its contributions of $0.1 million for each of the years ended December 31, 2020, 2019 and 2018. The total liability for this plan at December 31, 2020 and 2019 was approximately $36.9 million and $29.5 million, respectively, and is included in Other Non-Current Liabilities in the accompanying Consolidated Balance Sheets. The current portion of the liability was $2.0 million and $1.5 million as of December 31, 2020 and 2019, respectively.

The entire disclosure for retirement benefits.

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Business Segments and Geographic Information

Business Segments and Geographic Information

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

15.	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 GEO Care segment; the International Services segment; and Facility Construction & Design 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 U.S. Secure Services segment primarily encompasses U.S.-based secure services business. The Company’s community-based services, youth services and BI are operating segments aggregated under the GEO Care reporting segment. The GEO Care segment, which conducts its services in the United States, represents services provided to adults and juveniles for non-residential treatment, educational and community based programs, pre-release and half-way house programs, compliance technologies, monitoring services and evidence-based supervision and treatment programs for community-based parolees, probationers, and pretrial defendants. The International Services segment primarily consists of secure services operations in South Africa, Australia and the United Kingdom. The Facility Construction & Design segment primarily contracts with various state, local and federal agencies for the design and construction of facilities for which the Company has management contracts. Generally, the assets and revenues from the Facility Construction & Design segment are offset by a similar amount of liabilities and expenses. Segment disclosures below (in thousands) reflect the results of continuing operations. All transactions between segments are eliminated.

Fiscal Year	2020			2019			2018
Revenues:
U.S. Secure Services	$	1,571,216		$	1,601,679		$	1,492,973
GEO Care		551,342			614,249			580,313
International Services		211,621			232,016			253,874
Facility Construction and Design [1] [2]		15,919			29,978			4,226
Total revenues	$	2,350,098		$	2,477,922		$	2,331,386
Capital Expenditures:
U.S. Secure Services	$	58,410		$	69,074		$	163,208
GEO Care		44,913			45,000			30,136
International Services		1,142			1,468			2,322
Total capital expenditures [1]	$	104,465		$	115,542		$	195,666
Depreciation and amortization:
U.S. Secure Services	$	80,702		$	78,974		$	76,801
GEO Care		51,832			49,781			47,546
International Services		2,146			2,070			2,087
Total depreciation and amortization [1]	$	134,680		$	130,825		$	126,434
Operating Income:
U.S. Secure Services	$	298,952		$	322,506		$	297,453
GEO Care		97,330			147,036			138,911
International Services		19,610			16,723			12,816
Facility Construction & Design [1] [2]		54			74			—
Operating income from segments	$	415,946		$	486,339		$	449,180
General and Administrative Expenses		(193,372	)		(185,926	)		(184,515	)
Total operating income	$	222,574		$	300,413		$	264,665

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

2019 or 2018.

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

Pre-Tax Income Reconciliation of Segments

The following is a reconciliation of the Company’s total operating income from its reportable segments to the Company’s income before income taxes and equity in earnings of affiliates, in each case, during the years ended December 31, 2020, 2019 and 2018, respectively.

Fiscal Year Ended	2020			2019			2018
	(In thousands)
Operating income from segments	$	415,946		$	486,339		$	449,180
Unallocated amounts:
General and administrative expense		(193,372	)		(185,926	)		(184,515	)
Net interest expense		(103,765	)		(122,090	)		(115,348	)
Gain (loss) on extinguishment of debt		5,319			(4,795	)		—
Income before income taxes and equity in earnings of affiliates	$	124,128		$	173,528		$	149,317

	2020		2019		2018
	(In thousands)
Segment assets:
U.S. Secure Services	$	2,529,375	$	2,618,629	$	2,590,722
GEO Care		1,058,505		1,112,880		1,063,484
International Services		85,110		82,097		84,911
Facility Construction & Design		402,930		371,846		383,713
Total segment assets	$	4,075,920	$	4,185,452	$	4,122,830

Asset Reconciliation

The following is a reconciliation of the Company’s reportable segment assets to the Company’s total assets as of December 31, 2020 and 2019, respectively.

	2020		2019
	(In thousands)
Reportable segment assets	$	4,075,920	$	4,185,452
Cash		283,524		32,463
Deferred income tax assets		36,604		36,278
Restricted cash and investments, current and non-current		64,078		63,341
Total assets	$	4,460,126	$	4,317,534

Geographic Information

During each of the years ended December 31, 2020, 2019 and 2018, the Company’s international operations were conducted through (i) the Company’s wholly owned Australian subsidiary, The GEO Group Australia Pty. Ltd., through which the Company has management contracts for four correctional facilities, (ii) the Company's wholly owned subsidiaries, GEO Ravenhall Finance Holdings Pty. Ltd. and GEO Ravenhall Holdings Pty. Ltd. which, together, had a design and construction contract for a facility in Ravenhall, Australia which was completed in November 2017, (iii) the Company’s wholly-owned subsidiary in South Africa, SACM, through which the Company manages one correctional facility, and (iv) the Company’s wholly-owned subsidiary in the United Kingdom, The GEO Group UK Ltd., through which the Company manages the Dungavel House Immigration Removal Centre.

Fiscal Year	2020		2019		2018
	(In thousands)
Revenues:
U.S. operations	$	2,123,045	$	2,216,401	$	2,073,286
Australia operations		201,932		235,462		231,164
South African operations		17,044		18,779		19,806
United Kingdom operations		8,077		7,280		7,130
Total revenues	$	2,350,098	$	2,477,922	$	2,331,386
Property and Equipment, net:
U.S. operations	$	2,109,070	$	2,131,877	$	2,145,197
Australia operations		12,908		12,215		13,006
South African operations		127		182		88
United Kingdom operations		90		448		319
Total Property and Equipment, net	$	2,122,195	$	2,144,722	$	2,158,610

Sources of Revenue

The Company derives most of its revenue from the management of secure facilities through public-private partnerships. The Company also derives revenue from the provision of community based and youth services, monitoring and evidence-based supervision and treatment programs in the United States, and expansion of new and existing secure facilities, processing centers and reentry centers.

Fiscal Year	2020		2019		2018
	(In thousands)
Revenues:
Secure Services	$	1,782,837	$	1,833,695	$	1,746,847
GEO Care		551,342		614,249		580,313
Facility Construction and Design		15,919		29,978		4,226
Total revenues	$	2,350,098	$	2,477,922	$	2,331,386

Equity in Earnings of Affiliates

Equity in earnings of affiliates for 2020, 2019 and 2018 includes the operating results of the Company’s joint ventures in SACS and GEOAmey. These joint ventures are accounted for under the equity method and the Company’s investments in SACS and GEOAmey are presented as a component of other non-current assets in the accompanying Consolidated Balance Sheets.

The Company has recorded $3.7 million, $5.0 million and $7.4 million in earnings, net of tax impact, for SACS operations during the years ended December 31, 2020, 2019 and 2018, respectively, which are included in equity in earnings of affiliates, net of income tax provision in the accompanying Consolidated Statements of Operations. As of December 31, 2020 and 2019, the Company’s investment in SACS was $11.1 million and $12.3 million, respectively. The investment is included in other non-current assets in the accompanying Consolidated Balance Sheets. The Company received dividend distributions of $5.9 million and $6.3 million, in 2020 and 2019, respectively, from this unconsolidated joint venture.

The Company has recorded $5.5 million, $4.6 million and $2.2 million in earnings, net of tax impact, for GEOAmey’s operations during the years ended December 31, 2020, 2019 and 2018, respectively, which are included in equity in earnings of affiliates, net of income tax provision, in the accompanying Consolidated Statements of Operations. As of December 31, 2020 and 2019, the Company’s investment in GEOAmey was $11.8 million and $5.7 million, respectively, and represents its share of cumulative reported earnings. The Company received dividend distributions of $4.0 million in 2020 and 2019, respectively, from this unconsolidated joint venture. There were no dividend distributions in 2020.

Business Concentration

Except for the major customer noted in the following table, no other single customer made up greater than 10% of the Company’s consolidated revenues for the following fiscal years:

Customer		2020				2019				2018
Various agencies of the U.S Federal Government:			56	%			53	%			50	%

The concentrations above relate entirely to the Company's U.S. Secure Services segment.

Credit risk related to accounts receivable is reflective of the related revenues.

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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Income Taxes

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Income Taxes

16.	Income Taxes

The United States and foreign components of income before income taxes and equity in earnings in affiliates are as follows:

	2020		2019		2018
	(In thousands)
Income before income taxes and equity in earnings in affiliates
United States	$	96,428	$	155,844	$	131,261
Foreign		27,700		17,684		18,056
Income before income taxes and equity in earnings in affiliates	$	124,128	$	173,528	$	149,317

The provision for income taxes consists of the following components:

	2020			2019			2018
	(In thousands)
Federal income taxes:
Current	$	8,259		$	13,018		$	9,340
Deferred		(255	)		(7,028	)		(2,195	)
		8,004			5,990			7,145
State income taxes:
Current		4,146			5,093			3,050
Deferred		47			(383	)		(1,889	)
		4,193			4,710			1,161
Foreign income taxes:
Current		(3,163	)		(875	)		497
Deferred		11,429			6,823			5,314
		8,266			5,948			5,811
Total U.S. and foreign provision for income taxes	$	20,463		$	16,648		$	14,117

The U.S. Tax Cuts and Jobs Act ("Tax Act") enacted on December 22, 2017 introduced significant changes to the U.S. income tax law. Effective 2018, the Tax Act reduced the U.S. statutory corporate tax rate from 35% to 21%.

Due to the timing of the enactment and the complexity involved in applying the provisions of the Tax Act, the Company made reasonable estimates of the effects and recorded provisional amounts in its financial statements for the year ended December 31, 2017. As the Company collected and prepared necessary data, and interpreted any additional guidance issued by the U.S. Treasury Department, the IRS or other standard-setting bodies, it made adjustments over the course of the year to the provisional amounts, including refinements to deferred taxes. The accounting for the tax effects of the enactment of the Tax Act was completed as of December 31, 2018.

Any legislative changes, as well as any other new or proposed Treasury regulations to address questions that arise because of the Tax Act, may result in additional income tax impacts. There are no significant impacts to income tax for the year ended December 31, 2018, 2019 and 2020.

A reconciliation of the statutory U.S. federal tax rate of 21% and the effective income tax rate is as follows:

	2020			2019			2018
	(In thousands)
Provisions using statutory federal income tax rate	$	26,067		$	36,476		$	31,340
State income taxes, net of federal tax benefit		3,099			2,421			1,915
REIT benefit		(12,271	)		(22,395	)		(19,992	)
Change in valuation allowance		(1,775	)		1,456			(1,245	)
Federal tax credits		(2,015	)		(2,118	)		(1,904	)
Tax Cut and Jobs Act impact		—			—			(301	)
Foreign income taxes		1,373			1,934			1,479
Tax impact of vested equity compensation		3,628			185			949
Other, net		2,357			(1,311	)		1,876
Total provision for income taxes	$	20,463		$	16,648		$	14,117

The Company's effective tax rate differs from the U.S. statutory rate of 21% primarily due to a zero tax rate on earnings generated by the Company's REIT operations. State income taxes, net of federal tax benefits of $3.1 million, $2.4 million and $1.9 million for 2020, 2019 and 2018, respectively, is presented exclusive of the related change in valuation allowance of state income tax deferred items. Net of the related change in valuation allowances the state income taxes, net of federal tax benefits is $2.1 million, $4.1 million and $1.3 million for 2020, 2019 and 2018, respectively.

The following table presents the breakdown between non-current net deferred tax assets as classified on the balance sheets as of December 31, 2020 and 2019:

	2020			2019
	(In thousands)
Deferred tax assets - non-current	$	36,604		$	36,278
Deferred tax liabilities - non-current		(30,726	)		(19,254	)
Total net deferred tax assets	$	5,878		$	17,024

The significant components of the Company's deferred tax assets and liabilities consisted of the following as of December 31, 2020 and 2019:

	2020			2019
Deferred tax assets:	(In thousands)
Net operating losses	$	25,260		$	32,394
Accrued liabilities		30,605			24,452
Deferred compensation		18,906			15,052
Accrued compensation		7,888			7,239
Deferred revenue		15,210			13,219
Tax credits		3,834			5,223
Equity awards		3,402			4,894
Depreciation		3,069			15,424
Operating lease liability		14,889			13,140
Other, net		777			1,817
Valuation allowance		(21,012	)		(22,786	)
Total deferred tax assets	$	102,828		$	110,068
Deferred tax liabilities:
Intangible assets	$	(21,885	)	$	(24,097	)
Capitalized transaction costs		(16,165	)		(16,797	)
Accounting method change		(4,667	)		(7,019	)
Prepaid expenses and other		(39,925	)		(32,493	)
Lease right-of-use assets		(14,308	)		(12,638	)
Total deferred tax liabilities	$	(96,950	)	$	(93,044	)

Total net deferred tax assets	$	5,878		$	17,024

Deferred income taxes should be reduced by a valuation allowance if it is not more likely than not that some portion or all of the deferred tax assets will be realized. On a periodic basis, management evaluates and determines the amount of the valuation allowance required and adjusts such valuation allowance accordingly. At year end 2020 and 2019, the Company has a valuation allowance of $21.0 million and $22.8 million, respectively related to deferred tax assets for foreign net operating losses, state net operating losses and state tax credits. The valuation allowance decreased by $1.8 million during the year ended December 31, 2020.

The Company provides income taxes on the undistributed earnings of non-U.S. subsidiaries except to the extent that such earnings are permanently invested outside the United States. At December 31, 2020, $8.9 million of accumulated undistributed earnings of non-U.S. subsidiaries were permanently invested outside the United States. At the existing U.S. federal income and applicable foreign withholding tax rates, additional taxes (net of foreign tax credits) of $0.4 million, consisting solely of withholding taxes, would have to be provided if such earnings were remitted currently.

As of the year ended December 31, 2020, the Company had $38.2 million of Federal net operating loss carryforwards which begin to expire in 2032 and $207.3 million of combined net operating loss carryforwards in various states which will begin to expire in 2020. The Federal net operating losses are at the Company's REIT which is not subject to tax. The Company has recorded a partial valuation allowance against the deferred tax assets related to the state operating losses.

Also, as of the year ended December 31, 2020, the Company had $26.7 million of foreign operating losses which carry forward indefinitely and $3.6 million of state tax credits which will begin to expire in 2021. The Company has recorded a partial valuation allowance against the deferred tax assets related to the foreign operating losses and state tax credits.

The Company recognizes the cost of employee services received in exchange for awards of equity instruments based upon the grant date fair value of those awards. The exercise of non-qualified stock options and vesting of restricted stock awards which have been granted under the Company’s equity award plans give rise to compensation income which is includable in the taxable income of the applicable employees and the majority of which is deductible by the Company for federal and state income tax purposes. In the case of non-qualified stock options, the compensation income results from increases in the fair market value of the Company's common stock subsequent to the date of grant. At December 31, 2020, the deferred tax asset net of a valuation allowance related to unexercised stock options and restricted stock grants for which the Company has recorded a book expense was $3.4 million.

The Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	2020			2019			2018
	(In thousands)
Balance at Beginning of Period	$	5,469		$	4,584		$	4,461
Additions based on tax positions related to the current year		44			—			—
Additions for tax positions of prior years		166			994			298
Additions from current year acquisitions		—			—			—
Reductions for tax positions of prior years		—			—			—
Reductions as a result of a lapse of applicable statutes of limitations		(56	)		(109	)		(175	)
Balance at End of Period	$	5,623		$	5,469		$	4,584

All amounts in the reconciliation are reported on a gross basis and do not reflect a federal tax benefit on state income taxes. The Company has accrued $5.5 million of accrued uncertain tax benefits as of December 31, 2020 which is inclusive of the federal tax benefit on state income taxes. The Company believes that it is reasonably possible that a decrease may be necessary in the unrecognized tax benefits within twelve months of the reporting date of approximately $0.9 million, related to state tax exposures, due to a lapse of the statute of limitation. The accrued uncertain tax balance at December 31, 2020 includes $5.5 million of unrecognized tax benefits which, if ultimately recognized, will reduce the Company’s annual effective tax rate.

The Company is subject to income taxes in the U.S. federal jurisdiction, and various states and foreign jurisdictions. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply. With few exceptions, the Company is no longer subject to U.S. federal, state and local, or non-U.S. income tax examinations by tax authorities for the years before 2016. The Company was under audit by the IRS for the 2013 tax year, its first REIT year and was issued a no change letter at audit conclusion. One of our foreign subsidiaries satisfactorily completed a streamlined tax assurance review in a foreign jurisdiction for tax years 2015 to 2018. In late 2020, the Company was contacted by the IRS to conduct an examination of 2017. Subsequent to year-end, the IRS audit team notified the Company that the examination has been changed to a survey.

The calculation of the Company’s provision (benefit) for income taxes requires the use of significant judgment and involves dealing with uncertainties in the application of complex tax laws and regulations. In determining the adequacy of the Company’s provision (benefit) for income taxes, potential settlement outcomes resulting from income tax examinations are regularly assessed. As such, the final outcome of tax examinations, including the total amount payable or the timing of any such payments upon resolution of these issues, cannot be estimated with certainty.

During the years ended December 31, 2020 and 2019, the Company did not recognize any interest and penalties. The Company classifies interest and penalties as interest expense and other expense, respectively.

Commitments And Contingencies Disclosure [Abstract]

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Commitments and Contingencies

12 Months Ended

Dec. 31, 2020

Commitments and Contingencies

17.	Commitments and Contingencies

Collective Bargaining Agreements

The Company had approximately 36% of its workforce covered by collective bargaining agreements at December 31, 2020. Collective bargaining agreements with 16% of employees are set to expire in less than one year.

Contract Awards

On March 24, 2020, GEO announced that its wholly owned subsidiary, BI Incorporated, has signed a contract with U.S. Immigration and Customs Enforcement (“ICE”) for the continued provision of case management and supervision services under the federal government’s Intensive Supervision and Appearance Program (“ISAP”). The contract has a term of five years, effective April 1, 2020. Subsequently, a competitor filed a protest challenging the award of the contact. On July 8, 2020, the Government Accountability Office denied the protest and upheld the contract award.

GEO was also successful in our rebid of the continued operation of its company-owned 1,904 -bed South Texas ICE Processing Center contract. The contract is effective August 6, 2020 and has a ten-year term, inclusive of renewal options.

Contract Expirations

On June 19, 2020, GEO was notified by the Federal Bureau of Prisons (the "BOP") that the BOP will not be resoliciting the 1,900 beds at GEO's company-owned D Ray James Correctional Facility in Folkston, Georgia upon the expiration of the facility management contract between GEO and the BOP. The facility management contract was entered into in October 2010 with a base period of four years and with three renewal options for a two-year period. The third renewal period concluded on September 30, 2020. During the third quarter of 2020, GEO entered into a four-month extension of this contract which expired on January 31, 2021.

On November 23, 2020, GEO announced that the BOP has decided to not rebid the contract for the company-owned, 1,450-bed Rivers Correctional Facility in North Carolina, which is set to expire on March 31, 2021.

On January 20, 2021, GEO announced that the BOP has decided to not exercise the contract renewal option for the company-owned, 1,878-bed Moshannon Valley Correctional Facility in Pennsylvania, when the contract base period expires on March 31, 2021.

Commitments

As of December 31, 2020, the Company had contractual commitments for a number of projects using existing Company financing facilities. The Company’s management estimates that these existing capital projects will cost approximately $54.5 million, of which $35.0 million was spent through 2020. The Company estimates the remaining capital requirements related to these capital projects to be approximately $19.5 million. These projects are expected to be completed through 2021.

In addition to these current estimated capital requirements, the Company is currently in the process of bidding on, or evaluating potential bids for the design, construction and management of a number of new projects. In the event that the Company wins bids for these projects and decides to self-finance their construction, its capital requirements could materially increase.

Litigation, Claims and Assessments

On July 7, 2020, a purported shareholder class action lawsuit was filed against the Company, its Chief Executive Officer, George C. Zoley (“Mr. Zoley”), and its Chief Financial Officer, Brian R. Evans (“Mr. Evans”), in the United States 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 alleges 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 GEO Secure Services division, and Ann M. Schlarb (“Ms. Schlarb”), the Company’s Senior Vice 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, business strategies, health and safety, sources of financing, dividend expectations, and COVID-19 procedures. The amended complaint is 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 alleges that the defendants violated Section 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Rule 10b-5 promulgated thereunder, and alleges that Messrs. Zoley, Evans, and Donahue and Ms. Schlarb violated Section 20(a) of the Exchange Act. The amended complaint seeks damages, interest, attorneys’ fees, expert fees, other costs, and such other relief as the court may deem proper. On December 18, 2020, the defendants filed a motion to dismiss the amended complaint. Lead plaintiffs filed their opposition to the motion to dismiss on January 19, 2021, and defendants’ reply was filed on February 2, 2021. The motion to dismiss is now fully briefed.

As previously reported and described in the Company's prior periodic reports, including most recently in its Form 10-Q for the quarter ended September 30, 2020, former civil immigration detainees at the Aurora Immigration Processing Center filed a class action lawsuit on October 22, 2014, against the Company in the United States District Court for the District of Colorado (the “Court”). 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. In Washington, one of the two 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. 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 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 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 Department of Justice 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 importantly declared that the Company's intergovernmental immunity defense was legally viable, to be ultimately determined at trial. On July 20, 2020, the trial court for the two Washington cases alerted the Company that the litigation continued to be on “standby” due to the COVID-19 pandemic, “which is still ‘raging and explosive’” in the jurisdiction. As a result, a probable trial date is unknown. The Company intends to take all necessary steps to vigorously defend itself and has consistently refuted the allegations and claims in these lawsuits. The Company has not recorded an accrual relating to these matters at this time, as a loss is not considered probable nor reasonably estimable at this stage of the lawsuits.

On June 30, 2020, the Immigrant Legal Resources Center and Freedom for Immigrants filed a petition for writ of mandate in California state court in Bakersfield, California. The petitioners challenge compliance with California administrative law regarding the number of public hearings and allowing public access to public hearings for review of conditional use permits for the Central Valley and Golden State facilities that house federal immigration detainees. The City of McFarland and the City of McFarland Planning Commission are named as respondents and the Company is named as the real party in interest. The petitioners also filed an ex parte application for a temporary restraining order in state court seeking to prevent respondents from amending conditional use permits to allow housing federal immigration detainees at the Central Valley and Golden State facilities. The Company and respondents immediately removed the lawsuit to federal court to the United States District Court for the Eastern District of California in Sacramento, California by filing a notice of removal on July 10, 2020. The petitioners subsequently filed a motion seeking a temporary restraining order in federal court, seeking the same injunctive relief. The federal court entered a temporary restraining order enjoining respondents from amending conditional use permits that would permit housing federal detainees at Central Valley and Golden State. The federal court further ordered the Company and respondents to show cause why a preliminary injunction should not issue pending resolution of the lawsuit. The Company and respondents immediately moved for an emergency stay with the Ninth Circuit Court of Appeals which was granted on September 1, 2020. On October 26, 2020, the appellate court vacated the preliminary injunction

and determined that the City of McFarland fully complied with California administrative law with the requisite public hearings, the appropriate notice to the public and permitting public comments in a lawfully compliant manner.

On December 30, 2019, GEO 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 GEO or any other government contractors to provide detention services for illegal immigrants. GEO’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 lawsuit argues AB-32 substantially interferes with the ability of U.S. Marshals Service (“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 GEO 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 GEO’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 both GEO and the United States’ motions for preliminary injunction on July 16, 2020. The court ordered the parties to submit supplemental briefing and will 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 Untied State’s 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 have appealed to the Ninth Circuit Court of Appeals.

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. 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 exposes it to various types of 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 prisoners or detainees, 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 prisoners, including damages arising from a prisoner's escape or from a disturbance or riot at a facility. The Company accrues for legal costs associated with loss contingencies when those costs are probable and reasonably estimable. The Company does not expect the outcome of any pending claims or legal proceedings to have a material adverse effect on its financial condition, results of operations or cash flows.

Other Assessment

A state non-income tax audit completed in 2016 included tax periods for which the state tax authority had a number of years ago 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 assessed is approximately $19.8 million. In December 2020, the Company received an unfavorable ruling, but all penalties were abated. The Company is in the process of appealing the ruling 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.

Ransomware Attack

On November 3, 2020, the Company began the process of notifying current and former employees and will provide additional notifications as required by applicable state and federal law regarding a ransomware attack that impacted a portion of GEO’s information technology systems and a limited amount of data that contained personally identifiable information and protected health information. GEO promptly launched an investigation, engaged legal counsel and other incident response professionals, and notified its customers and law enforcement in response to the incident. GEO implemented a number of containment and remediation measures to address the incident, restore its systems and reinforce the security of its networks and information technology systems. The Company recovered its critical operating data and the incident has not had a significant impact on the Company's business operations or its ability to perform the services required under GEO's contracts with its government customers to or the individuals entrusted to GEO's facilities and programs. At this time, the Company is

not aware of any fraud or misuse of information as a result of the incident. Additionally, the Company’s financial reporting controls and procedures were not impacted and as a result, the incident did not affect the Company's ability to report accurate financial information in a timely manner. Based on the information currently known and obtained through the investigation of the incident, the Company does not believe the incident will have a material impact on its business, operations or financial results. The Company carries insurance, including cyber insurance, commensurate with its size and the nature of its operations.

CARES Act

On March 27, 2020, the CARES Act was enacted in response to the COVID-19 pandemic. The CARES Act, among other things, allows employers to defer the deposit and payment of the employer's share of Social Security taxes. The deferral applies 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 on December 31, 2021 and December 31, 2022. As a result of the CARES Act, the Company has deferred the payment of approximately $42 million related to these payroll taxes as of December 31, 2020, half of which is included in Accrued Payroll and Related Taxes and half which is included in Other Non-Current Liabilities in the accompanying consolidated balance sheets.

Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Data [Abstract]

Selected Quarterly Financial Data (Unaudited)

18.	Selected Quarterly Financial Data (Unaudited)

The Company’s selected quarterly financial data is as follows (in thousands, except per share data attributable to GEO):

	First Quarter		Second Quarter		Third Quarter		Fourth Quarter [1]
2020
Revenues	$	605,017	$	587,829	$	579,136	$	578,116
Operating income		56,586		63,513		64,462		38,013
Net Income		25,121		36,654		39,172		11,884
Net Income Attributable to The GEO Group, Inc.		25,181		36,720		39,220		11,911
Basic earnings per share:
Net income per share	$	0.21	$	0.31	$	0.33	$	0.09
Diluted earnings per share:
Net income per share *	$	0.21	$	0.31	$	0.33	$	0.09

	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
2019
Revenues	$	610,667	$	613,966	$	631,579	$	621,710
Operating income		74,777		81,175		78,159		66,302
Net Income		40,649		41,836		45,885		38,042
Net Income Attributable to The GEO Group, Inc.		40,705		41,914		45,932		38,052
Basic earnings per share:
Net income per share	$	0.34	$	0.35	$	0.39	$	0.32
Diluted earnings per share:
Net income per share *	$	0.34	$	0.35	$	0.39	$	0.32

[1] Decrease primarily due to goodwill impairment charges taken in the fourth quarter of 2020. Refer to Note 1 – Summary of Business Organization, Operations and Significant Accounting Policies – Goodwill and Other Intangible Assets.

* Earnings per share table may contain slight summation differences due to rounding.

Subsequent Events

12 Months Ended

Dec. 31, 2020

Subsequent Events [Abstract]

Subsequent Events

19. Subsequent Events

Dividend

On January 15, 2021, the Board of Directors decided to reduce the quarterly cash dividend and declared a quarterly cash dividend of $0.25 per share of common stock, which was paid on February 1, 2021 to shareholders of record as of the close of business on January 25, 2021.

Options and Restricted Stock Awards

On February 10, 2021, the Compensation Committee of the Board of Directors resolved to grant approximately 482,000 options and 1,171,000 shares of restricted stock to certain employees and directors of the Company effective March 1, 2021. Of the total shares of restricted stock granted, 644,000 are performance-based awards which vest subject to the achievement of certain total shareholder return and return on capital employed metrics over a three-year period.

Talbot Hall

In January 2021, GEO completed the sale of its interest in the Talbot Hall reentry center in New Jersey, resulting in net proceeds to GEO of approximately $13 million.

Schedule II - Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2020

Valuation And Qualifying Accounts [Abstract]

Schedule II - Valuation and Qualifying Accounts

THE GEO GROUP, INC.

SCHEDULE II

VALUATION AND QUALIFYING ACCOUNTS

For the Years Ended December 31, 2020, 2019 and 2018

Description	Balance at Beginning of Period		Charged to Cost and Expenses		Charged to Other Accounts		Deductions, Actual Charge-Offs			Balance at End of Period
	(In thousands)
YEAR ENDED DECEMBER 31, 2020:
Allowance for doubtful accounts	$	3,195	$	621	$	76	$	(1,218	)	$	2,674
YEAR ENDED DECEMBER 31, 2019:
Allowance for doubtful accounts	$	4,183	$	190	$	—	$	(1,178	)	$	3,195
YEAR ENDED DECEMBER 31, 2018:
Allowance for doubtful accounts	$	4,574	$	823	$	—	$	(1,214	)	$	4,183

Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2020

Real Estate And Accumulated Depreciation Disclosure [Abstract]

Real Estate and Accumulated Depreciation

THE GEO GROUP, INC.

SCHEDULE III- REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2020

(dollars in thousands)

			Original						Gross Cost at December 31, 2020
Property Name (1)	Type	Location	Land		Building and Improvements		Costs Capitalized Subsequent to Acquisition (2)		Land and Improvements		Building and Improvements		Land Held for Development		Development and Construction in Progress		Total		Accumulated Depreciation		Year(s) Built/ Renovated	Book Value of Mortgaged Properties
Secure Services - Owned and Leased
Broward Transitional Center	Secure Services Facility	Deerfield Beach, FL	$	4,085	$	15,441	$	19,261	$	4,297	$	34,392	$	—	$	98	$	38,787	$	11,008	1998, 2004, 2010/2011, 2013/2014	$	27,779
D. Ray James Correctional Facility	Secure Services Facility	Folkston, GA	$	1,229	$	55,961	$	14,726	$	1,966	$	69,707	$	243	$	—	$	71,916	$	17,506	1998/1999, 2008/2009, 2011/2012	$	54,410
Folkston ICE Processing Center	Secure Services Facility	Folkston, GA	$	291	$	30,399	$	12,684	$	291	$	43,038	$	0	$	45	$	43,374	$	8,404	2005, 2008, 2013, 2017, 2020	$	34,970
LaSalle ICE Processing Center	Secure Services Facility	Jena, LA	$	856	$	51,623	$	6,978	$	1,235	$	57,647	$	514	$	61	$	59,457	$	18,446	1998, 2008, 2010/2011, 2017	$	41,011
Alexandria Staging Facility (3)	Secure Services Facility	Alexandria, LA	$	—	$	17,283	$	99	$	—	$	17,379	$	—	$	3	$	17,382	$	2,271	2014	$	—
Moshannon Valley Correctional and Rehabilitation Facility	Secure Services Facility	Philipsburg, PA	$	1,107	$	65,160	$	9,261	$	1,738	$	73,663	$	87	$	40	$	75,528	$	18,534	2005/2006, 2013	$	56,994
North Lake Correctional Facility	Secure Services Facility	Baldwin, MI	$	66	$	36,727	$	53,644	$	1,727	$	88,710	$	0	$	—	$	90,437	$	17,867	1998/1999, 2002, 2011, 2019	$	72,570
Queens Detention Facility	Secure Services Facility	Jamaica, NY	$	2,237	$	19,847	$	5,526	$	2,237	$	24,022	$	0	$	1,351	$	27,610	$	10,474	1971, 1996/1997, 2004, 2019	$	—
Riverbend Correctional and Rehabilitation Facility (3)	Secure Services Facility	Milledgeville, GA	$	—	$	72,932	$	1,246	$	667	$	73,466	$	—	$	45	$	74,178	$	17,891	2011	$	56,287
Rivers Correctional Facility	Secure Services Facility	Winton, NC	$	875	$	60,328	$	6,623	$	1,256	$	66,421	$	149	$	—	$	67,826	$	26,661	2000/2001, 2017	$	41,165
Robert A. Deyton Detention Facility	Secure Services Facility	Lovejoy, GA	$	—	$	8,163	$	10,973	$	15	$	19,048	$	—	$	73	$	19,136	$	11,944	1984-1986, 2008/2009	$	—
Big Spring Correctional Facility (3)	Secure Services Facility	Big Spring, TX	$	480	$	82,180	$	32,458	$	2,405	$	112,708	$	—	$	5	$	115,118	$	38,158	1940, 1960, 1982, 1991, 1994, 1996, 2001, 2009-2012, 2016, 2018	$	—
Great Plains Correctional Facility	Secure Services Facility	Hinton, OK	$	463	$	76,580	$	19,505	$	2,499	$	90,349	$	—	$	3,700	$	96,548	$	22,193	1990-1992, 1995, 2008, 2011, 2013, 2015, 2018, CIP	$	74,355
Joe Corley Processing Center	Secure Services Facility	Conroe, TX	$	470	$	64,813	$	13,715	$	604	$	78,394	$	—	$	—	$	78,998	$	13,119	2008, 2017, 2018, 2020	$	65,879
Karnes County Detention Facility	Secure Services Facility	Karnes City, TX	$	937	$	24,825	$	15,714	$	912	$	40,378	$	176	$	10	$	41,476	$	9,018	1995, 2020	$	32,458
Karnes County Family Residential Center	Secure Services Facility	Karnes City, TX	$	—	$	29,052	$	31,211	$	803	$	59,460	$	0	$	—	$	60,263	$	9,524	2011/2012, 2014, 2015	$	—
Lawton Correctional Facility	Secure Services Facility	Lawton, OK	$	1,012	$	96,637	$	18,490	$	1,501	$	111,281	$	—	$	3,357	$	116,139	$	30,759	1998/1999, 2005/2006, 2015, CIP	$	85,380
Rio Grande Processing Center	Secure Services Facility	Laredo, TX	$	8,365	$	81,178	$	1,950	$	6,266	$	83,128	$	2,099	$	—	$	91,493	$	20,878	2007, 2008	$	70,615
South Texas ICE Processing Center	Secure Services Facility	Pearsall, TX	$	437	$	31,405	$	7,070	$	437	$	37,603	$	0	$	872	$	38,912	$	12,318	2004/2005, 2012, CIP	$	—

Val Verde County Detention Facility	Secure Services Facility	Del Rio, TX	$	21	$	56,009	$	1,322	$	16	$	52,678	$	5	$	4,653	$	57,352	$	17,695	2000/2001, 2005, 2007	$	39,657
Adelanto ICE Processing Center	Secure Services Facility	Adelanto, CA	$	8,005	$	113,255	$	45,120	$	10,564	$	154,122	$	—	$	1,694	$	166,380	$	26,925	1990/1991, 2011, 2012, 2015	$	139,455
Aurora ICE Processing Center	Secure Services Facility	Aurora, CO	$	4,590	$	15,200	$	79,745	$	4,669	$	92,989	$	1,310	$	567	$	99,535	$	22,136	1987, 1993, 1998, 2009, 2010, 2011, 2017, 2020	$	77,399
Central Valley Annex	Secure Services Facility	Mc Farland, CA	$	1,055	$	28,133	$	5,774	$	906	$	30,980	$	211	$	2,865	$	34,962	$	10,599	1997, 2009/2010, CIP	$	24,363
Desert View Annex	Secure Services Facility	Adelanto, CA	$	1,245	$	27,943	$	8,317	$	1,245	$	32,454	$	—	$	3,806	$	37,505	$	12,251	1997, 2010, 2013, CIP	$	25,254
Golden State Annex	Secure Services Facility	Mc Farland, CA	$	1,264	$	27,924	$	9,479	$	1,072	$	30,436	$	253	$	6,906	$	38,667	$	10,185	1997, 2010, CIP	$	28,482
Guadalupe County Correctional Facility	Secure Services Facility	Santa Rosa, NM	$	181	$	29,732	$	2,172	$	832	$	31,099	$	154	$	—	$	32,085	$	13,489	1998/1999, 2008	$	18,596
Lea County Correctional Facility (3)	Secure Services Facility	Hobbs, NM	$	347	$	67,933	$	6,804	$	744	$	71,033	$	347	$	2,960	$	75,084	$	21,758	1997/1998, 2017, CIP	$	—
McFarland Female CRF	Secure Services Facility	Mc Farland, CA	$	914	$	9,019	$	9,063	$	2,036	$	16,765	$	183	$	12	$	18,996	$	6,845	1988, 2011, 2014	$	—
Mesa Verde ICE Processing Center	Secure Services Facility	Bakersfield, CA	$	2,237	$	13,714	$	15,769	$	2,237	$	26,114	$	3,181	$	188	$	31,720	$	5,958	1989, 2011, 2015	$	—
Northwest ICE Processing Center	Secure Services Facility	Tacoma, WA	$	3,916	$	39,000	$	52,657	$	6,546	$	88,792	$	—	$	235	$	95,573	$	25,616	2003/2004, 2009, 2010, 2012	$	—
Western Region Detention Facility	Secure Services Facility	San Diego, CA	$	—	$	28,071	$	1,417	$	—	$	29,425	$	—	$	63	$	29,488	$	29,398	1959-1961, 2000	$	—
Brooks County Detention Center	Secure Services Facility	Falfurrias, TX	$	410	$	18,940	$	1,514	$	470	$	20,394	$	—	$	—	$	20,864	$	3,197	2001, 2011	$	—
East Hidalgo Detention Center	Secure Services Facility	LaVilla, TX	$	460	$	28,010	$	4,589	$	523	$	32,536	$	—	$	—	$	33,059	$	4,402	2001, 2002, 2004, 2005, 2007, 2011, 2019	$	—
Perry County Correctional Center	Secure Services Facility	Uniontown, AL	$	400	$	12,880	$	401	$	400	$	13,281	$	—	$	—	$	13,681	$	2,145	2006	$	—
Pine Prairie ICE Processing Center	Secure Services Facility	Pine Prairie, LA	$	260	$	11,910	$	7,401	$	1,916	$	17,172	$	477	$	6	$	19,571	$	3,467	1999, 2008, 2018	$	—
South Louisiana ICE Processing Center	Secure Services Facility	Basile, LA	$	290	$	13,040	$	19,907	$	290	$	32,947	$	—	$	—	$	33,237	$	4,134	1993, 1994, 1996, 1998-1999, 2000-2001, 2010-2011, 2017, 2019	$	—
Coastal Bend Detention Center	Secure Services Facility	Robstown, TX	$	1,330	$	26,820	$	1,171	$	1,451	$	27,870	$	—	$	—	$	29,321	$	4,565	2008, 2009	$	—
Eagle Pass Correctional Facility	Secure Services Facility	Maverick, TX	$	296	$	15,437	$	7,961	$	299	$	23,395	$	—	$	—	$	23,694	$	1,880	2008, 2018	$	—
Montgomery ICE Processing Center	Secure Services Facility	Conroe, TX	$	2,012	$	112,192	$	703	$	2,016	$	112,891	$	—	$	—	$	114,907	$	5,491	2018	$	—
Secure Services - Managed
Lawrenceville Correctional Center	Secure Services Facility	Lawrenceville, VA	$	—	$	—	$	916	$	—	$	916	$	—	$	—	$	916	$	889	1996-1998, 2011	$	—
Arizona State Prison- Florence West	Secure Services Facility	Florence, AZ	$	320	$	9,317	$	1,225	$	320	$	10,542	$	—	$	—	$	10,862	$	9,677	1997	$	—
Arizona State Prison - Phoenix West	Secure Services Facility	Phoenix, AZ	$	—	$	7,919	$	504	$	—	$	8,423	$	—	$	—	$	8,423	$	7,510	1979-1984, 1995/1996, 2002	$	—

Central Arizona Correctional Facility	Secure Services Facility	Florence, AZ	$	—	$	396	$	2,000	$	—	$	2,396	$	—	$	—	$	2,396	$	2,361	2006	$	—
Arizona State Prison - Kingman	Secure Services Facility	Kingman, AZ	$	—	$	—	$	458	$	—	$	458	$	—	$	—	$	458	$	280	2004, 2010	$	—
New Castle Correctional Facility	Secure Services Facility	New Castle, IN	$	—	$	—	$	23,389	$	—	$	23,286	$	—	$	—	$	23,286	$	12,749	2001, 2012	$	—
Heritage Trails Correctional Center	Secure Services Facility	Plainfield, IN	$	—	$	—	$	10	$	—	$	10	$	—	$	—	$	10	$	10	1890, 1900, 1921, 1961	$	—
South Bay Correctional and Rehabilitation Facility	Secure Services Facility	South Bay, FL	$	—	$	—	$	2,417	$	—	$	2,417	$	—	$	—	$	2,417	$	2,417	1996/1997, 2001, 2004/2005, 2007, 2012	$	—
Reeves County Detention Complex R1/R2	Secure Services Facility	Pecos, TX	$	—	$	—	$	1,203	$	—	$	1,203	$	—	$	—	$	1,203	$	1,203	1986, 1998, 2001, 2004, 2009/2010	$	—
Reeves County Detention Complex R3	Secure Services Facility	Pecos, TX	$	—	$	—	$	4,238	$	—	$	4,238	$	—	$	—	$	4,238	$	4,235	2003, 2006, 2010	$	—
Blackwater River Correctional and Rehabilitation Facility	Secure Services Facility	Milton, FL	$	—	$	—	$	36	$	—	$	36	$	—	$	—	$	36	$	36	2010	$	—
Bay Correctional and Rehabilitation Facility	Secure Services Facility	Panama City, FL	$	—	$	—	$	13	$	—	$	13	$	—	$	—	$	13	$	13	1995	$	—
Moore Haven Correctional and Rehabilitation Facility	Secure Services Facility	Moore Haven, FL	$	—	$	—	$	49	$	—	$	49	$	—	$	—	$	49	$	49	1995, 1999, 2007	$	—
Graceville Correctional and Rehabilitation Facility	Secure Services Facility	Jackson, FL	$	—	$	—	$	542	$	—	$	542	$	—	$	—	$	542	$	389	2007, 2009, 2015	$	—
George W. Hill Correctional Facility	Secure Services Facility	Glen Mills, PA	$	—	$	34	$	10	$	—	$	44	$	—	$	—	$	44	$	28	1998	$	—
Kinney County Detention Center	Secure Services Facility	Bracketville, TX	$	—	$	223	$	10	$	—	$	233	$	—	$	—	$	233	$	123	2004	$	—
Community Based Services - Owned/Leased
Beaumont Transitional Treatment Center	Community Based Services Facility	Beaumont, TX	$	105	$	560	$	764	$	132	$	1,297	$	—	$	—	$	1,429	$	702	1940-1950, 1967, 1975, 1986, 1997	$	—
Bronx Community Re-entry Center	Community Based Services Facility	Bronx, NY	$	—	$	154	$	7,203	$	—	$	3,767	$	—	$	3,590	$	7,357	$	3,390	1966, 1998, 2009, 2012, 2015, CIP	$	—
Cordova Center	Community Based Services Facility	Anchorage, AK	$	235	$	3,225	$	4,766	$	235	$	7,991	$	—	$	—	$	8,226	$	3,017	1974-1979, 2001, 2013	$	—
Delaney Hall	Community Based Services Facility	Newark, NJ	$	3,759	$	22,502	$	14,126	$	3,873	$	36,512	$	—	$	2	$	40,387	$	12,316	1999/2000, 2008	$	—
El Monte Center	Community Based Services Facility	El Monte, CA	$	—	$	47	$	155	$	0	$	202	$	—	$	0	$	202	$	139	1960, 2004, 2012	$	—
Grossman Center	Community Based Services Facility	Leavenworth, KS	$	—	$	24	$	3,446	$	247	$	3,194	$	—	$	29	$	3,470	$	195	2002/2003, 2010	$	—
Las Vegas Community Correctional Center	Community Based Services Facility	Las Vegas, NV	$	520	$	1,580	$	460	$	520	$	2,040	$	—	$	—	$	2,560	$	717	1978, 2004	$	—
Leidel Comprehensive Sanction Center	Community Based Services Facility	Houston, TX	$	3,210	$	710	$	610	$	3,210	$	1,320	$	—	$	—	$	4,530	$	627	1930, 1960, 2005/2006, 2012	$	—

Marvin Gardens Center	Community Based Services Facility	Los Angeles, CA	$	—	$	50	$	2,584		$	241	$	2,393	$	—	$	—	$	2,634	$	656	1962/1965, 1990, 2017	$	—
McCabe Center	Community Based Services Facility	Austin, TX	$	350	$	510	$	537		$	350	$	1,047	$	—	$	—	$	1,397	$	773	1962, 2012	$	—
Mid Valley House	Community Based Services Facility	Edinburg, TX	$	694	$	3,608	$	244		$	722	$	3,824	$	—	$	—	$	4,546	$	662	1985, 2001, 2014	$	—
Midtown Center	Community Based Services Facility	Anchorage, AK	$	130	$	220	$	153		$	130	$	373	$	—	$	0	$	503	$	204	Early 1950s, 1972, 1998	$	—
Northstar Center	Community Based Services Facility	Fairbanks, AK	$	—	$	12	$	288		$	0	$	300	$	—	$	0	$	300	$	297	1970/1975, 1995	$	—
Oakland Street Center	Community Based Services Facility	Oakland, CA	$	970	$	250	$	109		$	970	$	359	$	—	$	—	$	1,329	$	193	1904-1911, 2000s	$	—
Parkview Center	Community Based Services Facility	Anchorage, AK	$	160	$	1,480	$	1,464		$	160	$	2,928	$	—	$	16	$	3,104	$	1,096	1971, 1976, 2020	$	—
Reality House	Community Based Services Facility	Brownsville, TX	$	487	$	2,771	$	527		$	520	$	3,265	$	—	$	—	$	3,785	$	727	1983, 2011	$	—
Southeast Texas Transitional Center	Community Based Services Facility	Houston, TX	$	910	$	3,210	$	3,580		$	1,052	$	6,648	$	—	$	—	$	7,700	$	2,149	1960, 1967, 1970, 1984, 1997/1998, 2008, 2012, 2018	$	—
Salt Lake City Center	Community Based Services Facility	Salt Lake City, UT	$	751	$	1,505	$	155		$	751	$	1,660	$	—	$	—	$	2,411	$	370	1970, 1977, 2004	$	—
Seaside Center	Community Based Services Facility	Nome, AK	$	67	$	732	$	3,956		$	67	$	4,670	$	—	$	18	$	4,755	$	595	1999, 2015/2016	$	—
Taylor Street Center	Community Based Services Facility	San Francisco, CA	$	3,230	$	900	$	3,294		$	3,230	$	4,177	$	—	$	17	$	7,424	$	1,586	1907, 2010/2011	$	—
Tundra Center	Community Based Services Facility	Bethel, AK	$	20	$	1,190	$	1,577		$	79	$	2,708	$	—	$	—	$	2,787	$	1,783	1960/1970	$	—
Alabama Therapeutic Education Facility	Community Based Services Facility	Columbiana, AL	$	760	$	17,118	$	505		$	760	$	17,623	$	—	$	—	$	18,383	$	1,824	1962, 2008	$	—
Casper Reentry Center	Community Based Services Facility	Casper, WY	$	600	$	6,046	$	1,057		$	768	$	6,935	$	—	$	—	$	7,703	$	1,160	1984, 1994, 2004/2005, 2007	$	—
Toler Hall	Community Based Services Facility	Newark, NJ	$	—	$	88	$	8		$	0	$	88	$	—	$	8	$	96	$	43	1929, 2004	$	—
Logan Hall	Community Based Services Facility	Newark, NJ	$	—	$	6,888	$	(2,848	)	$	—	$	4,040	$	—	$	—	$	4,040	$	3,304	1929, 2004	$	—
Long Beach Community Reentry Center	Community Based Services Facility	Long Beach, CA	$	—	$	513	$	154		$	0	$	667	$	—	$	0	$	667	$	653	1997	$	—
Arapahoe County Residential Center	Community Based Services Facility	Littleton, CO	$	2,100	$	2,485	$	110		$	2,100	$	2,595	$	—	$	—	$	4,695	$	507	2006	$	—
Cheyenne Mountain Reentry Center	Community Based Services Facility	Colarado Springs, CO	$	270	$	18,853	$	614		$	270	$	19,467	$	—	$	—	$	19,737	$	2,053	2005	$	—
Community Alternative of El Paso County	Community Based Services Facility	Colorado Springs, CO	$	560	$	1,553	$	377		$	510	$	1,924	$	50	$	6	$	2,490	$	371	1991, 1998, 2000	$	—

Correctional Alternative Placement Services	Community Based Services Facility	Craig, CO	$	126	$	289	$	47	$	126	$	336	$	—	$	—	$	462	$	120	1919-1924, 1990	$	—
Albert "Bo" Robinson Assessment & Treatment Center	Community Based Services Facility	Trenton, NJ	$	380	$	16,578	$	516	$	380	$	17,094	$	—	$	—	$	17,474	$	2,334	1963, 1997, 2009	$	—
Talbot Hall	Community Based Services Facility	Kearney, NJ	$	—	$	2,854	$	206	$	—	$	3,060	$	—	$	—	$	3,060	$	2,277	1919, 1998	$	—
The Harbor	Community Based Services Facility	Newark, NJ	$	0	$	93	$	103	$	0	$	196	$	—	$	—	$	196	$	62	1929, 1999, 2008	$	—
Tully House	Community Based Services Facility	Newark, NJ	$	1,150	$	5,313	$	101	$	1,150	$	5,414	$	—	$	—	$	6,564	$	775	1929, 1999	$	—
ADAPPT Outpatient	Community Based Services Facility	Reading, PA	$	77	$	1,742	$	118	$	85	$	1,852	$	—	$	—	$	1,937	$	360	1909, 1919, 1929, 1986	$	—
Alle Kiski Pavilion	Community Based Services Facility	Arnold, PA	$	30	$	1,345	$	71	$	30	$	1,416	$	—	$	—	$	1,446	$	281	1901, 1990	$	—
Chester County	Community Based Services Facility	Chester, PA	$	0	$	54	$	3,802	$	306	$	3,474	$	—	$	76	$	3,856	$	366	1923, 1996, 2003	$	—
Coleman Hall	Community Based Services Facility	Philadelphia, PA	$	182	$	8,943	$	801	$	182	$	9,744	$	—	$	—	$	9,926	$	1,402	1919, 2001	$	—
Philadelphia Residential Reentry Center	Community Based Services Facility	Philadelphia, PA	$	208	$	10,103	$	416	$	214	$	10,513	$	—	$	—	$	10,727	$	1,503	2008	$	—
Community Alternative of the Black Hills	Community Based Services Facility	Rapid City, SD	$	7	$	2,719	$	6	$	7	$	2,725	$	—	$	—	$	2,732	$	480	1989, 1998, 2007	$	—
Youth Services - Owned/Leased
Abraxas Academy	Youth Facility	Morgantown, PA	$	4,220	$	14,120	$	1,795	$	4,020	$	16,115	$	—	$	—	$	20,135	$	4,418	1999/2000	$	—
Abraxas I	Youth Facility	Marienville, PA	$	990	$	7,600	$	1,814	$	1,028	$	9,376	$	—	$	—	$	10,404	$	3,401	1930s, 1960, 1982, 1985-1987, 1989-1999, 2003	$	—
Abraxas Ohio	Youth Facility	Shelby, OH	$	1,160	$	2,900	$	1,199	$	1,207	$	4,046	$	—	$	6	$	5,259	$	1,566	1900, 1935, 1965, 1992	$	—
Abraxas Youth Center	Youth Facility	South Mountain, PA	$	—	$	36	$	495	$	0	$	531	$	—	$	—	$	531	$	438	1938, 1948, 2001	$	—
DuPage Interventions	Youth Facility	Hindsdale, IL	$	2,110	$	1,190	$	356	$	2,110	$	1,546					$	3,656	$	641	1988	$	—
Leadership Development Program	Youth Facility	South Mountain, PA	$	—	$	25	$	777	$	0	$	802	$	—	$	—	$	802	$	706	1920, 1938, 2000, 2005	$	—
Southern Peaks Regional Treatment Center	Youth Facility	Canon City, CO	$	2,850	$	11,350	$	864	$	3,057	$	12,007	$	—	$	—	$	15,064	$	3,656	2003-2004	$	—
Southwood Interventions	Youth Facility	Chicago, IL	$	870	$	6,310	$	1,806	$	898	$	8,088	$	—	$	—	$	8,986	$	3,242	1925, 1950, 1975, 2008	$	—
Woodridge Interventions	Youth Facility	Woodridge, IL	$	5,160	$	4,330	$	1,147	$	5,304	$	5,333	$	—	$	—	$	10,637	$	2,029	1982/1986	$	—
Electronic & Location Monitoring Centers - Managed
El Centro DRC	Day Reporting Center	El Centro, CA	$	—	$	11	$	—	$	—	$	11	$	—	$	—	$	11	$	11	1976	$	—

Ventura DRC	Day Reporting Center	Ventura, CA	$	—	$	19	$	—		$	—	$	19	$	—	$	—	$	19	$	19	1988	$	—
CDCR Contra Costa Day Reporting Center	Day Reporting Center	Richmond, CA	$	—	$	35	$	—		$	—	$	35	$	—	$	—	$	35	$	35	1962	$	—
Neptune CRC	Day Reporting Center	Neptune City, NJ	$	—	$	16	$	35		$	—	$	51	$	—	$	—	$	51	$	51	2008-2009, 2011-2012, 2015	$	—
Sacramento BOP DRC	Day Reporting Center	Sacracmento, CA	$	—	$	36	$	59		$	—	$	95	$	—	$	—	$	95	$	55	1974	$	—
Perth Amboy CRC	Day Reporting Center	Perth Amboy, NJ	$	—	$	19	$	50		$	—	$	69	$	—	$	—	$	69	$	68	2006-2008, 2010, 2015	$	—
Elizabeth NJ CRC	Day Reporting Center	Elizabeth, NJ	$	—	$	26	$	84		$	—	$	110	$	—	$	—	$	110	$	86	2003, 2006-2007, 2009, 2011, 2015	$	—
Atlantic City CRC	Day Reporting Center	Atlantic City, NJ	$	—	$	10	$	22		$	—	$	32	$	—	$	—	$	32	$	32	2004, 2005, 2011	$	—
Orange DRC	Day Reporting Center	Santa Ana, CA	$	—	$	72	$	—		$	—	$	72	$	—	$	—	$	72	$	72	2012/2013	$	—
Lancaster County PADOC DRC	Day Reporting Center	Lancaster, PA	$	—	$	73	$	1		$	—	$	74	$	—	$	—	$	74	$	74	2014	$	—
Lycoming County DRC	Day Reporting Center	Williamsport, PA	$	—	$	56	$	94		$	—	$	150	$	—	$	—	$	150	$	131	2014, 2015	$	—
Vineland NJ DRC	Day Reporting Center	Vineland, NJ	$	—	$	163	$	8		$	—	$	171	$	—	$	—	$	171	$	171	2015	$	—
Los Angeles CDCR	Day Reporting Center	Pamona, CA	$	—	$	44	$	(20	)	$	—	$	24	$	—	$	—	$	24	$	21	2013	$	—
Eagle DRC	Day Reporting Center	Eagle, CO	$	—	$	—	$	8		$	—	$	8	$	—	$	—	$	8	$	6	2016	$	—
Baltimore ISAP	Intensive Supervision Appearance Program	Baltimore, MD	$	—	$	2	$	108		$	—	$	110	$	—	$	—	$	110	$	44	2007, 2009, 2018, 2019	$	—
Miami ISAP	Intensive Supervision Appearance Program	Miami, FL	$	—	$	82	$	(74	)	$	—	$	8	$	—	$	—	$	8	$	1	2007, 2008, 2010, 2014, 2020	$	—
Delray Beach ISAP	Intensive Supervision Appearance Program	Delray Beach, FL	$	—	$	26	$	2		$	—	$	28	$	—	$	—	$	28	$	15	2006, 2020	$	—
Orlando ISAP	Intensive Supervision Appearance Program	Orlando, FL	$	—	$	18	$	—		$	—	$	18	$	—	$	—	$	18	$	18	2007, 2010	$	—
Atlanta ISAP	Intensive Supervision Appearance Program	Atlanta, GA	$	—	$	268	$	(45	)	$	—	$	223	$	—	$	—	$	223	$	215	2009, 2015, 2020	$	—
New Orleans ISAP	Intensive Supervision Appearance Program	New Orleans, LA	$	—	$	54	$	—		$	—	$	54	$	—	$	—	$	54	$	54	2009, 2015	$	—
Washington DC ISAP	Intensive Supervision Appearance Program	Fairfax, VA	$	—	$	20	$	(9	)	$	—	$	11	$	—	$	—	$	11	$	3	2014, 2015, 2020	$	—

Charleston, SC ISAP	Intensive Supervision Appearance Program	Charleston, SC	$	—	$	39	$	1		$	—	$	40	$	—	$	—	$	40	$	39	2015	$	—
Chicago ISAP	Intensive Supervision Appearance Program	Chicago, IL	$	—	$	25	$	(14	)	$	—	$	11	$	—	$	—	$	11	$	1	2009, 2013, 2020	$	—
Detroit ISAP	Intensive Supervision Appearance Program	Detroit, MI	$	—	$	18	$	174		$	—	$	192	$	—	$	—	$	192	$	74	2009, 2018	$	—
Denver ISAP	Intensive Supervision Appearance Program	Centennial, CO	$	—	$	173	$	(166	)	$	—	$	7	$	—	$	—	$	7	$	7	2015, 2020	$	—
St Louis MO ISAP	Intensive Supervision Appearance Program	St. Louis, MO	$	—	$	50	$	—		$	—	$	50	$	—	$	—	$	50	$	50	2015	$	—
Louisville, KY ISAP	Intensive Supervision Appearance Program	Louisville, KY	$	—	$	17	$	—		$	—	$	17	$	—	$	—	$	17	$	8	2015	$	—
Indianapolis, IN ISAP	Intensive Supervision Appearance Program	Indianapolis, IN	$	—	$	35	$	—		$	—	$	35	$	—	$	—	$	35	$	35	2016	$	—
Salt Lake City ISAP	Intensive Supervision Appearance Program	Murray, UT	$	—	$	7	$	21		$	—	$	28	$	—	$	—	$	28	$	25	2009, 2015, 2019	$	—
Seattle ISAP	Intensive Supervision Appearance Program	Tukwila, WA	$	—	$	40	$	15		$	—	$	55	$	—	$	—	$	55	$	55	2009, 2014	$	—
Sacramento, CA	Intensive Supervision Appearance Program	Sacracmento, CA	$	—	$	28	$	—		$	—	$	28	$	—	$	—	$	28	$	28	2015	$	—
Las Vegas, NV ISAP	Intensive Supervision Appearance Program	Las Vegas, NV	$	—	$	32	$	—		$	—	$	32	$	—	$	—	$	32	$	20	2015	$	—
Bronx ISAP	Intensive Supervision Appearance Program	Bronx, NY	$	—	$	31	$	—		$	—	$	31	$	—	$	—	$	31	$	31	2010	$	—
Manhattan ISAP	Intensive Supervision Appearance Program	New York, NY	$	—	$	10	$	50		$	—	$	60	$	—	$	—	$	60	$	60	2010, 2015	$	—
Queens ISAP	Intensive Supervision Appearance Program	Jamaica, NY	$	—	$	125	$	9		$	—	$	134	$	—	$	—	$	134	$	131	2014, 2015	$	—
Boston ISAP	Intensive Supervision Appearance Program	Burlington, MA	$	—	$	80	$	5		$	—	$	85	$	—	$	—	$	85	$	85	2014, 2015	$	—
Hartford ISAP	Intensive Supervision Appearance Program	Hartford, CT	$	—	$	23	$	10		$	—	$	33	$	—	$	—	$	33	$	33	2009, 2014, 2015	$	—
Newark ISAP	Intensive Supervision Appearance Program	Newark, NJ	$	—	$	29	$	7		$	—	$	36	$	—	$	—	$	36	$	36	2009, 2014, 2019	$	—
Marlton ISAP	Intensive Supervision Appearance Program	Marlton, NJ	$	—	$	2	$	18		$	—	$	20	$	—	$	—	$	20	$	15	2013, 2015, 2019	$	—

Richmond, VA ISAP	Intensive Supervision Appearance Program	Richmond, VA	$	—	$	52	$	18		$	—	$	70	$	—	$	—	$	70	$	56	2015, 2019	$	-
Silver Spring, MD ISAP	Intensive Supervision Appearance Program	Silver Spring, MD	$	—	$	345	$	—		$	—	$	345	$	—	$	—	$	345	$	334	1964/1965, 2007, 2016	$	-
Fort Myers FL ISAP	Intensive Supervision Appearance Program	Fort Myers, FL	$	—	$	76	$	—		$	—	$	76	$	—	$	—	$	76	$	49	2019	$	-
Los Angeles ISAP	Intensive Supervision Appearance Program	Los Angeles, CA	$	—	$	35	$	45		$	—	$	80	$	—	$	—	$	80	$	80	2007, 2008, 2014, 2015	$	-
San Bernadino ISAP	Intensive Supervision Appearance Program	San Bernadino, CA	$	—	$	42	$	—		$	—	$	42	$	—	$	—	$	42	$	42	2008, 2012, 2013	$	-
Dallas ISAP	Intensive Supervision Appearance Program	Dallas, TX	$	—	$	17	$	7		$	—	$	24	$	—	$	—	$	24	$	23	2009, 2020	$	-
El Paso ISAP	Intensive Supervision Appearance Program	El Paso, TX	$	—	$	2	$	36		$	—	$	38	$	—	$	—	$	38	$	29	2009, 2015, 2020	$	-
Houston ISAP	Intensive Supervision Appearance Program	Houston, TX	$	—	$	21	$	19		$	—	$	40	$	—	$	—	$	40	$	40	2009	$	-
Phoenix ISAP	Intensive Supervision Appearance Program	Phoenix, AZ	$	—	$	79	$	(13	)	$	—	$	66	$	—	$	—	$	66	$	65	2015, 2020	$	-
San Antonio ISAP	Intensive Supervision Appearance Program	San Antonio, TX	$	—	$	7	$	4		$	—	$	11	$	—	$	—	$	11	$	8	2009, 2014, 2015, 2020	$	-
San Diego ISAP	Intensive Supervision Appearance Program	San Diego, CA	$	—	$	14	$	6		$	—	$	20	$	—	$	—	$	20	$	7	2019	$	-
Bakersfield ISAP	Intensive Supervision Appearance Program	Bakersfield, CA	$	—	$	16	$	—		$	—	$	16	$	—	$	—	$	16	$	16	2012	$	-
Fresno, CA	Intensive Supervision Appearance Program	Fresno, CA	$	—	$	120	$	—		$	—	$	120	$	—	$	—	$	120	$	120	2015	$	-
Ventura C-Site	Intensive Supervision Appearance Program	Camarillo, CA	$	—	$	59	$	—		$	—	$	59	$	—	$	—	$	59	$	52	2016	$	-
SW Houston, TX ISAP	Intensive Supervision Appearance Program	Houston, TX	$	—	$	50	$	5		$	—	$	55	$	—	$	—	$	55	$	55	2017	$	-
International Secure Services - Managed
Fulham Correctional Centre & Fulham Nalu Challenge Community Unit	Correctional Facility	West Sale, Victoria AUS	$	—	$	—	$	2,266		$	—	$	2,266	$	—	$	—	$	2,266	$	1,233	1997, 2002, 2020	$	-
Junee Correctional Centre	Correctional Facility	Junee, New South Wales, AUS	$	—	$	—	$	1,036		$	—	$	1,036	$	—	$	—	$	1,036	$	939	1993, 2020	$	-
Dungavel House Immigration Removal Centre	Detention Facility	South Lanarkshire, UK	$	—	$	—	$	653		$	—	$	653	$	—	$	—	$	653	$	609	2013	$	-
Kutama-Sinthumule Correctional Centre	Correctional Facility	Louis Trichardt, South Africa	$	—	$	—	$	142		$	—	$	142	$	—	$	—	$	142	$	123	2003-2008	$	-
Offices - Owned/Leased

Corporate Headquarters	Office	Boca Raton, FL	$	10,019	$	49,994	$	3,987		$	10,205	$	52,757	$	—	$	1,038	$	64,000	$	2,173	2019	$	61,827
Central Regional Office	Office	San Antonio, TX	$	—	$	—	$	88		$	0	$	88	$	—	$	—	$	88	$	87	1985, 2003/2004, 2010	$	—
Eastern Regional Office	Office	Charlotte, NC	$	—	$	—	$	54		$	0	$	54	$	—	$	—	$	54	$	29	1998, 2013	$	—
Western Regional Office	Office	Los Angeles, CA	$	—	$	13	$	—		$	0	$	13	$	—	$	—	$	13	$	0	1982	$	—
Anderson, IN Call Center	Office	Anderson, IN	$	114	$	5,260	$	0		$	114	$	5,260	$	—	$	—	$	5,374	$	461	2016	$	—
Boulder, CO Point II	Office	Boulder CO	$	—	$	3,032	$	172		$	—	$	3,204	$	—	$	—	$	3,204	$	1,166	1969, 2015, 2017	$	—
Protocol	Office	Aurora, IL	$	—	$	4	$	229		$	0	$	233	$	—	$	—	$	233	$	220	2014, 2015	$	—
Sydney Office	Office	Sydney, AUS	$	—	$	—	$	10,332		$	—	$	10,332	$	—	$	—	$	10,332	$	2,294	1980	$	—
Miscellaneous Investments
Compton, CA Office Building	Owned Office Property	Compton, CA	$	974	$	1,546	$	7		$	974	$	1,553	$	—	$	—	$	2,527	$	354	1961/1965	$	—
Miscellaneous Investments	Various	Various	$	29,574	$	5,480	$	(263	)	$	8,504	$	3,464	$	22,323	$	500	$	34,792	$	1,302	Various	$	—
		Total	$	132,552	$	1,898,341	$	685,035		$	130,206	$	2,515,039	$	31,762	$	38,921	$	2,715,929	$	677,025		$	1,128,906

Depreciation related to the real estate investments reflected in the consolidated statements of comprehensive income is calculated over the estimated useful lives of the assets as follows:

Land improvements		The shorter of 7 years or the term of the lease/contract
Buildings		Generally 50 years or a shorter period if management determines that the building has a shorter useful life
Building improvements		7 or 15 years
Leasehold improvements		The shorter of 15 years or the term of the lease/contract

The aggregate remaining net basis of the real estate investments for federal income tax purposes was approximately $1.7 billion at December 31, 2020. Depreciation and amortization are provided on the alternative depreciation system and straight-line methods over the estimated useful lives of the assets. This amount excludes international real estate investments.

(1)

This schedule presents the real estate property of the Company and does not include facilities with no real estate assets.

(2)

The negative balance for costs capitalized subsequent to acquisition include losses recorded subsequent to the initial costs.

(3)

Land on which the facility is situated is subject to one or more ground leases.

THE GEO GROUP, INC.

REAL ESTATE AND ACCUMULATED DEPRECIATION

For the Years Ended December 31, 2020, 2019 and 2018

(dollars in thousands)

A summary of activity for real estate and accumulated depreciation is as follows:

	2020			2019			2018
Real Estate:
Balance at the beginning of the year	$	2,679,737		$	2,643,065		$	2,501,844
Additions to/improvements of real estate		63,795			57,611			153,163
Assets sold/written-off		(27,603	)		(20,939	)		(11,942	)
Balance at the end of the year	$	2,715,929		$	2,679,737		$	2,643,065
Accumulated Depreciation
Balance at the beginning of the year	$	616,175		$	558,657		$	492,582
Depreciation expense		73,659			72,191			70,592
Assets sold/written-off		(12,809	)		(14,673	)		(4,517	)
Balance at the end of the year	$	677,025		$	616,175		$	558,657

Summary of Business Organization, Operations and Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2020

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Risk and Uncertainties

Risks and uncertainties

Executive Order

COVID-19

Cash and Cash Equivalents

Concentration of Credit Risk

Accounts Receivable

Contracts Receivable

Contract Receivable

Restricted Cash and Investments

Restricted Cash and Cash Equivalents

	December 31, 2020			December 31, 2019			December 31, 2018
Cash and Cash Equivalents	$	283,524		$	32,463		$	31,255
Restricted cash and cash equivalents - current		26,740			32,418			51,678
Restricted cash and investments - non-current		37,338			30,923			22,431
Less Restricted investments - non-current		(35,749	)		(28,332	)		(20,892	)
Total cash, cash equivalents and restricted cash and cash equivalents shown in the statement of cash flows	$	311,853		$	67,472		$	84,472

Prepaid Expenses and Other Current Assets

Prepaid expenses and Other Current Assets

Property and Equipment

Assets Held for Sale

Asset Impairments

Assets Held under Finance Leases

Goodwill and Other Intangible Assets, Net

Goodwill

Other Intangible Assets, Net

Internal-Use Software

Debt Issuance Costs

Variable Interest Entities

Fair Value Measurements

Revenue Recognition

	Year Ended December 31, 2020 (in thousands)
	U.S. Secure Services		GEO Care		International		Facility Construction and Design		Total
Owned and Leased: Secure Services	$	1,198,881	$	—	$	—	$	—	$	1,198,881
Owned and Leased: Community-based		—		145,491		—		—		145,491
Owned and Leased: Youth Services		—		75,792		—		—		75,792
Managed Only		372,335		5,513		211,621		—		589,469
Facility Construction and Design		—		—		—		15,919		15,919
Non-residential Services and Other		—		324,546		—		—		324,546
Total Revenues	$	1,571,216	$	551,342	$	211,621	$	15,919	$	2,350,098

	Year Ended December 31, 2019 (in thousands)
	U.S. Secure Services		GEO Care		International		Facility Construction and Design		Total
Owned and Leased - Secure Services	$	1,228,299	$	—	$	—	$	—	$	1,228,299
Owned and Leased - Community-based		—		176,001		—		—		176,001
Owned and Leased - Youth Services		—		87,189		—		—		87,189
Managed Only		373,380		5,523		232,016		—		610,919
Facility Construction and Design		—		—		—		29,978		29,978
Non-residential Services and Other		—		345,536		—		—		345,536
Total Revenues	$	1,601,679	$	614,249	$	232,016	$	29,978	$	2,477,922

	Year Ended December 31, 2018 (in thousands)
	U.S Secure Services		GEO Care		International		Facility Construction and Design		Total
Owned and Leased - Secure Services	$	1,110,749	$	—	$	—	$	—	$	1,110,749
Owned and Leased - Community-based		—		170,805		—		—		170,805
Owned and Leased - Youth Services		—		91,824		—		—		91,824
Managed Only		382,224		4,981		253,874		—		641,079
Facility Construction and Design		—		—		—		4,226		4,226
Non-residential services and Other		—		312,703		—		—		312,703
Total Revenues	$	1,492,973	$	580,313	$	253,874	$	4,226	$	2,331,386

Owned and Leased - Secure Services

Owned and Leased - Community-based

Owned and Leased - Youth Services

Managed Only

Facility Construction and Design

Non-residential Services and Other

Services provided for GEO's day reporting centers are similar to its Owned and Leased Community-based services discussed above with the exception of temporary housing.

Income Taxes

Reserves for Insurance Losses

Comprehensive Income (Loss)

The components of accumulated other comprehensive loss attributable to GEO included in the consolidated statement of shareholders' equity are as follows (in thousands):

	Foreign currency translation adjustments, net of tax attributable to The GEO Group, Inc.			Unrealized loss on derivatives, net of tax			Pension adjustments, net of tax			Total
Balance, January 1, 2020	$	(12,314	)	$	(1,476	)	$	(6,545	)	$	(20,335	)
Current-period other comprehensive income (loss)		3,107			(3,276	)		(2,085	)		(2,254	)
Balance, December 31, 2020	$	(9,207	)	$	(4,752	)	$	(8,630	)	$	(22,589	)

	Foreign currency translation adjustments, net of tax attributable to The GEO Group, Inc.			Unrealized loss on derivatives, net of tax			Pension adjustments, net of tax			Total
Balance, January 1, 2019	$	(14,573	)	$	(5,746	)	$	(3,299	)	$	(23,618	)
Current-period other comprehensive income (loss) before reclassifications		2,259			419			(3,246	)		(568	)
Amounts reclassified from other comprehensive income into earnings [1]		—			3,851			—			3,851
Net current-period comprehensive income (loss)		2,259			4,270			(3,246	)		3,283
Balance, December 31, 2019	$	(12,314	)	$	(1,476	)	$	(6,545	)	$	(20,335	)

There were no reclassifications out of accumulated other comprehensive income (loss) during the year ended December 31, 2020.

The foreign currency translation adjustment, net of tax, related to noncontrolling interests was not significant for the year ended December 31, 2020 or 2019.

Foreign Currency Translation

Derivatives

Stock-Based Compensation Expense

	2020			2019			2018
Risk free interest rates		1.79	%		2.44	%		2.84	%
Expected term	4-5 years			4-5 years			4-5 years
Expected volatility		41	%		41	%		40	%
Expected dividend rate		13.11	%		8.47	%		8.70	%

	2020			2019			2018
Expected volatility		30.3	%		43.7	%		44.5	%
Beta		1.12			1.00			1.05
Risk free interest rate		0.85	%		2.53	%		2.58	%

Earnings Per Share

Recent Accounting Pronouncements

The Company implemented the following accounting standards during the year ended December 31, 2020:

The following accounting standards will be adopted in future periods:

Summary of Business Organization, Operations and Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Schedule of Cash and Cash Equivalents

	December 31, 2020			December 31, 2019			December 31, 2018
Cash and Cash Equivalents	$	283,524		$	32,463		$	31,255
Restricted cash and cash equivalents - current		26,740			32,418			51,678
Restricted cash and investments - non-current		37,338			30,923			22,431
Less Restricted investments - non-current		(35,749	)		(28,332	)		(20,892	)
Total cash, cash equivalents and restricted cash and cash equivalents shown in the statement of cash flows	$	311,853		$	67,472		$	84,472

Disaggregation of Revenue

	Year Ended December 31, 2020 (in thousands)
	U.S. Secure Services		GEO Care		International		Facility Construction and Design		Total
Owned and Leased: Secure Services	$	1,198,881	$	—	$	—	$	—	$	1,198,881
Owned and Leased: Community-based		—		145,491		—		—		145,491
Owned and Leased: Youth Services		—		75,792		—		—		75,792
Managed Only		372,335		5,513		211,621		—		589,469
Facility Construction and Design		—		—		—		15,919		15,919
Non-residential Services and Other		—		324,546		—		—		324,546
Total Revenues	$	1,571,216	$	551,342	$	211,621	$	15,919	$	2,350,098

	Year Ended December 31, 2019 (in thousands)
	U.S. Secure Services		GEO Care		International		Facility Construction and Design		Total
Owned and Leased - Secure Services	$	1,228,299	$	—	$	—	$	—	$	1,228,299
Owned and Leased - Community-based		—		176,001		—		—		176,001
Owned and Leased - Youth Services		—		87,189		—		—		87,189
Managed Only		373,380		5,523		232,016		—		610,919
Facility Construction and Design		—		—		—		29,978		29,978
Non-residential Services and Other		—		345,536		—		—		345,536
Total Revenues	$	1,601,679	$	614,249	$	232,016	$	29,978	$	2,477,922

	Year Ended December 31, 2018 (in thousands)
	U.S Secure Services		GEO Care		International		Facility Construction and Design		Total
Owned and Leased - Secure Services	$	1,110,749	$	—	$	—	$	—	$	1,110,749
Owned and Leased - Community-based		—		170,805		—		—		170,805
Owned and Leased - Youth Services		—		91,824		—		—		91,824
Managed Only		382,224		4,981		253,874		—		641,079
Facility Construction and Design		—		—		—		4,226		4,226
Non-residential services and Other		—		312,703		—		—		312,703
Total Revenues	$	1,492,973	$	580,313	$	253,874	$	4,226	$	2,331,386

Components of Accumulated Other Comprehensive Income

The components of accumulated other comprehensive loss attributable to GEO included in the consolidated statement of shareholders' equity are as follows (in thousands):

	Foreign currency translation adjustments, net of tax attributable to The GEO Group, Inc.			Unrealized loss on derivatives, net of tax			Pension adjustments, net of tax			Total
Balance, January 1, 2020	$	(12,314	)	$	(1,476	)	$	(6,545	)	$	(20,335	)
Current-period other comprehensive income (loss)		3,107			(3,276	)		(2,085	)		(2,254	)
Balance, December 31, 2020	$	(9,207	)	$	(4,752	)	$	(8,630	)	$	(22,589	)

	Foreign currency translation adjustments, net of tax attributable to The GEO Group, Inc.			Unrealized loss on derivatives, net of tax			Pension adjustments, net of tax			Total
Balance, January 1, 2019	$	(14,573	)	$	(5,746	)	$	(3,299	)	$	(23,618	)
Current-period other comprehensive income (loss) before reclassifications		2,259			419			(3,246	)		(568	)
Amounts reclassified from other comprehensive income into earnings [1]		—			3,851			—			3,851
Net current-period comprehensive income (loss)		2,259			4,270			(3,246	)		3,283
Balance, December 31, 2019	$	(12,314	)	$	(1,476	)	$	(6,545	)	$	(20,335	)

Fair value of stock-based awards

	2020			2019			2018
Risk free interest rates		1.79	%		2.44	%		2.84	%
Expected term	4-5 years			4-5 years			4-5 years
Expected volatility		41	%		41	%		40	%
Expected dividend rate		13.11	%		8.47	%		8.70	%

Fair value assumptions of restricted stock

The fair value of restricted stock awards granted in 2020, 2019 and 2018 with market-based performance conditions 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 average key assumptions:

	2020			2019			2018
Expected volatility		30.3	%		43.7	%		44.5	%
Beta		1.12			1.00			1.05
Risk free interest rate		0.85	%		2.53	%		2.58	%

Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

Dividends Declared

During the years ended December 31, 2020, 2019 and 2018, GEO declared and paid the following regular cash distributions to its stockholders which were treated for federal income taxes as follows:

					Ordinary Dividends
Declaration Date	Payment Date	Record Date	Distribution Per Share		Qualified (1)		Non-Qualified		Nondividend Distributions (2)		Aggregate Payment Amount (millions)
February 5, 2018	February 27, 2018	February 16, 2018	$	0.47	$	0.046117	$	0.209022	$	0.2148609	$	58.3
April 11, 2018	May 3, 2018	April 23, 2018	$	0.47	$	0.046117	$	0.209022	$	0.2148609	$	57.4
July 10, 2018	July 27, 2018	July 20, 2018	$	0.47	$	0.046117	$	0.209022	$	0.2148609	$	57.2
October 15, 2018	November 2, 2018	October 26, 2018	$	0.47	$	0.046117	$	0.209022	$	0.2148609	$	57.2
February 4, 2019	February 22, 2019	February 15, 2019	$	0.48	$	—	$	0.2759699	$	0.2040301	$	57.9
April 3, 2019	April 22, 2019	April 15, 2019	$	0.48	$	—	$	0.2759699	$	0.2040301	$	58.2
July 9, 2019	July 26, 2019	July 19, 2019	$	0.48	$	—	$	0.2759699	$	0.2040301	$	58.2
October 14, 2019	November 1, 2019	October 25, 2019	$	0.48	$	—	$	0.2759699	$	0.2040301	$	58.2
February 3, 2020	February 21, 2020	February 14, 2020	$	0.48	$	—	$	0.2655802	$	0.2144198	$	58.2
April 6, 2020	April 24, 2020	April 17, 2020	$	0.48	$	—	$	0.2655802	$	0.2144198	$	58.5
July 7, 2020	July 24, 2020	July 17, 2020	$	0.48	$	—	$	0.2655802	$	0.2144198	$	58.5
October 6, 2020	October 23, 2020	October 16, 2020	$	0.34	$	—	$	0.1881193	$	0.1518807	$	41.5

(1)	For 2019 and 2020, there are no Qualified Dividends. Qualified Dividends represents the portion of Total Ordinary Dividends which constitutes a "Qualified Dividend", as defined by the Internal Revenue Service.

(2)	The amount constitutes a "Return of Capital", as defined by the Internal Revenue Service.

Equity Incentive Plans (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Recognized Compensation Expenses

The Company recognized compensation expense related to the Company plans for the years ended December 31, 2020, 2019 and 2018 as follows (in thousands):

	2020		2019		2018
Stock option plan expense	$	1,141	$	1,085	$	996
Restricted stock expense	$	22,755	$	21,260	$	21,053

Summary of Options Activity

A summary of the activity of the Company’s stock options plans is presented below:

	Shares			Wtd. Avg. Exercise Price		Wtd. Avg. Remaining Contractual Term (years)		Aggregate Intrinsic Value
	(In thousands)							(In thousands)
Options outstanding at January 1, 2020		1,590		$	24.29		6.90	$	232
Granted		480			14.64
Exercised		-			-
Forfeited/Canceled		(119	)		21.96
Options outstanding at December 31, 2020		1,951		$	22.07		6.62	$	-
Options vested and expected to vest at December 31, 2020		1,869		$	22.27		6.53	$	-
Options exercisable at December 31, 2020		1,051		$	24.53		5.13	$	-

The following table summarizes information relative to stock option activity during the years ended December 31, 2020, 2019 and 2018 (in thousands):

	2020		2019		2018
Intrinsic value of options exercised	$	-	$	433	$	519
Fair value of shares vested	$	1,061	$	971	$	794

Exercise Prices and Related Information of Stock Option Outstanding

The following table summarizes information about the exercise prices and related information of stock options outstanding under the Company plans at December 31, 2020:

	Options Outstanding						Options Exercisable
Exercise Prices ($)	Number Outstanding		Wtd. Avg. Remaining Contractual Life		Wtd. Avg. Exercise Price		Number Exercisable		Wtd. Avg. Remaining Contractual Life		Wtd. Avg. Exercise Price
	(In thousands)
0-18.23		552		7.51	$	14.62		109		0.74	$	14.53
18.24-22.26		588		6.12	$	20.99		417		5.63	$	20.74
22.27-29.39		495		6.55	$	25.11		272		5.22	$	27.11
29.40-50.00		316		6.12	$	32.27		253		6.11	$	32.27
Total		1,951		6.62	$	22.07		1,051		5.13	$	24.53

Summary of Non-vested Stock Option Activity

The following table summarizes the status of non-vested stock options as of December 31, 2020 and changes during the year ended December 31, 2020:

	Number of Shares			Wtd. Avg. Grant Date Fair Value
	(In thousands)
Options non-vested at January 1, 2020		781		$	3.99
Granted		480			1.59
Vested		(242	)		3.79
Forfeited		(119	)		3.40
Options non-vested at December 31, 2020		900		$	2.87

Summary of Restricted Stock Activity

The following table summarizes the status of restricted stock awards as of December 31, 2020 and changes during the year ended December 31, 2020:

	Shares			Wtd. Avg. Grant date Fair value
	(In thousands)
Restricted stock outstanding at January 1, 2020		2,047		$	27.33
Granted		900			15.30
Vested		(736	)		27.79
Forfeited/Canceled		(57	)		20.36
Restricted stock outstanding at December 31, 2020		2,154		$	20.61

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Basic and Diluted Earnings Per Share

Basic and diluted earnings per share (“EPS”) from continuing operations were calculated for the years ended December 31, 2020, 2019, and 2018 respectively, as follows:

Fiscal Year	2020		2019		2018
	(In thousands, except per share data)
Net Income	$	112,831	$	166,412	$	144,827
Loss attributable to noncontrolling interests		201		191		262
Net income attributable to The GEO Group, Inc.	$	113,032	$	166,603	$	145,089
Basic earnings per share attributable to The GEO Group, Inc.:
Weighted average shares outstanding		119,719		119,097		120,241
Per share amount	$	0.94	$	1.40	$	1.21
Diluted earnings per share attributable to The GEO Group, Inc.:
Weighted average shares outstanding		119,719		119,097		120,241
Dilutive effect of equity incentive plans		272		214		506
Weighted average shares assuming dilution		119,991		119,311		120,747
Per share amount - diluted	$	0.94	$	1.40	$	1.20

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2020

Property Plant And Equipment [Abstract]

Summary of Property and Equipment

Property and equipment consist of the following at fiscal year-end:

	Useful Life		2020			2019
	(Years)		(In thousands)
Land		—	$	128,498		$	128,874
Buildings and improvements	2 to 50			2,264,910			2,229,956
Leasehold improvements	1 to 29			283,561			291,511
Equipment	3 to 10			225,509			216,604
Furniture, fixtures and computer software	1 to 7			66,375			64,828
Facility construction in progress		—		42,863			31,979
Total			$	3,011,716		$	2,963,752
Less accumulated depreciation and amortization				(889,521	)		(819,030	)
Property and equipment, net			$	2,122,195		$	2,144,722

Goodwill and Other Intangible Assets, Net (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Changes in the Company's Goodwill Balances

. Changes in the Company’s goodwill balances recognized during the years ended December 31, 2020 and 2019 were as follows (in thousands)

	1/1/2020		Impairment charges [1]			Foreign currency translation		12/31/2020
U.S. Secure Services	$	316,366	$	—		$	—	$	316,366
GEO Care		459,589		(21,146	)		—		438,443
International Services		401		-			40		441
Total Goodwill	$	776,356	$	(21,146	)	$	40	$	755,250

	1/1/2019		Foreign currency translation			12/31/2019
U.S. Secure Services	$	316,366	$	—		$	316,366
GEO Care		459,589		—			459,589
International Services		404		(3	)		401
Total Goodwill	$	776,359	$	(3	)	$	776,356

Schedule of Intangible Assets

Intangible assets consisted of the following as of December 31, 2020 and 2019 (in thousands):

	Weighted		December 31, 2020							December 31, 2019
	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	$	308,398	$	(168,848	)	$	139,550	$	308,432	$	(148,171	)	$	160,261
Technology		7.3		33,700		(30,703	)		2,997		33,700		(29,091	)		4,609
Trade names	Indefinite			45,200		—			45,200		45,200		—			45,200
Total acquired intangible assets			$	387,298	$	(199,551	)	$	187,747	$	387,332	$	(177,262	)	$	210,070

Estimated Amortization Expense for the Remainder

Estimated amortization expense related to the Company’s finite-lived intangible assets for 2021 through 2025 and thereafter is as follows (in thousands):

Fiscal Year	Total Amortization Expense
2021	$	21,189
2022		16,705
2023		13,481
2024		9,748
2025		9,696
Thereafter		71,728
	$	142,547

Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Financial Instruments Financial Assets Balance Sheet Groupings [Abstract]

Fair Value Assets and Liabilities Measured on Recurring Basis

The following table provides a summary of the Company’s significant financial assets and liabilities carried at fair value and measured on a recurring basis (in thousands):

	Fair Value Measurements at December 31, 2020
	Carrying Value at December 31, 2020		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Restricted investments:
Rabbi Trust	$	35,749	$	—	$	35,749	$	—
Fixed income securities		1,932		—		1,932		—
Liabilities:
Interest rate swap derivatives	$	6,015	$	—	$	6,015	$	—

	Fair Value Measurements at December 31, 2019
	Carrying Value at December 31, 2019		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Restricted investments:
Rabbi Trust	$	28,332	$	—	$	28,332	$	—
Fixed income securities		1,892		—		1,892		—
Liabilities:
Interest rate swap derivatives	$	1,869	$	—	$	1,869	$	—

Fair Value of Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Carrying Value and Estimated Fair Value of Financial Instruments

	Estimated Fair Value Measurements at December 31, 2020
	Carrying Value as of December 31, 2020		Total Fair Value		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	283,524	$	283,524	$	283,524	$	—	$	—
Restricted cash and investments		28,329		28,329		28,329		—		—
Liabilities:
Borrowings under Senior Credit Facility	$	1,474,437	$	1,342,066	$	—	$	1,342,066	$	—
5.875% Senior Notes due 2022		193,958		192,736		—		192,736		—
5.125% Senior Notes		281,783		256,096		—		256,096		—
5.875% Senior Notes due 2024		242,500		202,458		—		202,458		—
6.00% Senior Notes		350,000		279,493		—		279,493		—
Non-recourse debt		344,614		344,632		—		344,632		—

	Estimated Fair Value Measurements at December 31, 2019
	Carrying Value as of December 31, 2019		Total Fair Value		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	32,463	$	32,463	$	32,463	$	—	$	—
Restricted cash and investments		35,010		35,010		35,010		—		—
Liabilities:
Borrowings under Senior Credit Facility	$	1,298,671	$	1,218,861	$	—	$	1,218,861	$	—
5.875% Senior Notes due 2022		193,958		194,239		—		194,239		—
5.125% Senior Notes		300,000		287,982		—		287,982		—
5.875% Senior Notes due 2024		250,000		228,493		—		228,493		—
6.00% Senior Notes		350,000		314,052		—		314,052		—
Non-recourse debt		328,178		327,792		—		327,792		—

Accrued Expenses and other current liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Accrued Liabilities Current [Abstract]

Summary of Accrued Expenses

Accrued expenses and other current liabilities consisted of the following (in thousands):

	2020		2019
Accrued interest	$	17,614	$	17,850
Accrued bonus		16,986		16,914
Accrued insurance		78,893		73,192
Accrued repair obligations for damaged property		—		4,343
Accrued property and other taxes		38,524		35,192
Construction retainage		1,062		1,097
Other		49,299		43,020
Total	$	202,378	$	191,608

Debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt Repayment Schedules Under Capital Lease Obligations, Long-Term Debt and Non-Recourse Debt

Summary of Debt

Debt consisted of the following (in thousands):

	December 31, 2020			December 31, 2019
Senior Credit Facility:
Term loan	$	770,000		$	778,000
Unamortized debt issuance costs on term loan		(4,043	)		(5,410	)
Unamortized discount on term loan		(1,705	)		(2,281	)
Revolver		704,437			520,671
Total Senior Credit Facility	$	1,468,689		$	1,290,980
6.00% Senior Notes:
Notes Due in 2026	$	350,000		$	350,000
Unamortized debt issuance costs		(3,709	)		(4,282	)
Total 6.00% Senior Notes Due in 2026	$	346,291		$	345,718
5.875% Senior Notes:
Notes Due in 2024	$	242,500		$	250,000
Unamortized debt issuance costs		(2,000	)		(2,532	)
Total 5.875% Senior Notes Due in 2024	$	240,500		$	247,468
5.125% Senior Notes:
Notes Due in 2023	$	281,783		$	300,000
Unamortized debt issuance costs		(2,033	)		(2,876	)
Total 5.125% Senior Notes Due in 2023	$	279,750		$	297,124
5.875% Senior Notes:
Notes Due in 2022	$	193,958		$	193,958
Unamortized debt issuance costs		(710	)		(1,351	)
Total 5.875% Senior Notes Due in 2022	$	193,248		$	192,607
Non-Recourse Debt:
Non-Recourse Debt	$	344,614		$	328,178
Unamortized debt issuance costs on non-recourse debt		(5,237	)		(5,279	)
Discount on Non-Recourse Debt		(25	)		(81	)
Total Non-Recourse Debt	$	339,352		$	322,818
Finance Lease Obligations		5,029			4,570
Other debt		42,413			43,410
Total debt	$	2,915,272		$	2,744,695
Current portion of finance lease obligations, long-term debt and non-recourse debt		(26,180	)		(24,208	)
Finance Lease Obligations, long-term portion		(2,988	)		(2,954	)
Non-Recourse Debt, long-term portion		(324,223	)		(309,236	)
Long-Term Debt	$	2,561,881		$	2,408,297

Debt repayment schedules under Finance Lease Obligations, Long-Term Debt, Non-Recourse Debt and the Senior Credit Facility are as follows:

Fiscal Year	Finance Leases			Long-Term Debt			Non- Recourse Debt			Revolver		Term Loans			Total Annual Repayment
	(In thousands)
2021	$	2,433		$	1,071		$	15,446		$	—	$	8,000		$	26,950
2022		1,729			195,075			8,487			—		8,000			213,291
2023		497			282,949			9,033			—		8,000			300,479
2024		497			243,708			9,549			704,437		746,000			1,704,191
2025		274			1,274			10,274			—		—			11,822
Thereafter		—			387,262			291,825			—		—			679,087
		5,430			1,111,339			344,614			704,437		770,000			2,935,820
Interest imputed on Capital Leases		(401	)		—			—			—		—			(401	)
Original issue discount		—			—			(25	)		—		(1,705	)		(1,730	)
Current portion		(2,041	)		(1,071	)		(15,446	)		—		(8,000	)		(26,558	)
Non-current portion	$	2,988		$	1,110,268		$	329,143		$	704,437	$	760,295		$	2,907,131

6.00% Senior Notes due 2026 | Senior Notes

5.875% Senior Notes due 2024 | Senior Notes

Year	Percentage
2022		102.000	%
2023		101.000	%
2024 and thereafter		100.000	%

5.125% Senior Notes due 2023 | Senior Notes

Year	Percentage
2021		100.979	%
2022 and thereafter		100.000	%

5.875% Senior Notes due 2022 | Senior Notes

Year	Percentage
2021 and thereafter		100.000	%

Assets and Liabilities, Lessee

Year		Percentage
2021 and thereafter			100.000	%

Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Lease related assets and liabilities are recorded on the balance sheet as follows (in thousands):

	Classification on the Balance Sheet	December 31, 2020
Assets
Operating lease assets	Operating Lease Right-of-Use Assets, Net	$	124,727
Finance lease assets	Property and Equipment, Net		3,914
Total lease assets		$	128,641

Liabilities
Current
Operating	Operating lease liabilities, current portion	$	29,080
Finance [1]	Current portion of finance liabilities, long-term debt and non-recourse debt		2,041
Noncurrent
Operating	Operating Lease Liabilities		101,375
Finance [1]	Finance Lease Liabilities		2,988
Total lease liabilities		$	135,484

[1] Also refer to Note 12 - Debt.

Lease, Cost

Certain information related to the lease costs for finance and operating leases is presented as follows (in thousands):

	Year Ended December 31, 2020
Operating lease cost	$	39,506
Finance lease cost:
Amortization of right-of-use assets		1,225
Interest on lease liabilities		352
Total finance lease cost		1,577
Short-term lease cost		3,293
Total lease cost	$	44,376
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$	38,847
Operating cash flows for finance leases	$	276
Financing activities for finance leases	$	1,918
Right-of-use assets obtained in exchange for new operating lease liabilities	$	23,940
Right-of-use assets obtained in exchange for new finance lease liabilities	$	2,260
Weighted average remaining lease term:
Operating leases	6.8 years
Finance leases	2.9 years
Weighted average discount rate:
Operating leases		4.65	%
Finance leases		6.47	%

Lessee, Operating Lease, Liability, Maturity

	Operating Leases			Finance Leases
2021	$	36,219		$	2,433
2022		27,388			1,729
2023		22,588			497
2024		19,235			497
2025		11,130			274
Thereafter		37,287			—
Total minimum lease payments		153,847			5,430
Less: amount of lease payment representing interest		(23,392	)		(401	)
Present value of future minimum lease payments		130,455			5,029
Less: current obligations under leases		(29,080	)		(2,041	)
Long-term lease obligations	$	101,375		$	2,988

Finance Lease, Liability, Maturity

	Operating Leases			Finance Leases
2021	$	36,219		$	2,433
2022		27,388			1,729
2023		22,588			497
2024		19,235			497
2025		11,130			274
Thereafter		37,287			—
Total minimum lease payments		153,847			5,430
Less: amount of lease payment representing interest		(23,392	)		(401	)
Present value of future minimum lease payments		130,455			5,029
Less: current obligations under leases		(29,080	)		(2,041	)
Long-term lease obligations	$	101,375		$	2,988

Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2020

Compensation And Retirement Disclosure [Abstract]

Components of Company Plan Benefit Expense

	December 31, 2020			December 31, 2019
Accumulated Benefit Obligation, End of Year	$	25,229		$	30,139

Change in Projected Benefit Obligation
Projected Benefit Obligation, Beginning of Year	$	37,551		$	32,474
Service Cost		1,254			998
Interest Cost		1,306			1,393
Other reclassification [1]		(8,925	)		—
Actuarial (Gain) Loss		3,180			3,449
Benefits Paid		(836	)		(763	)
Projected Benefit Obligation, End of Year	$	33,530		$	37,551
Change in Plan Assets
Plan Assets at Fair Value, Beginning of Year	$	—		$	—
Company Contributions		836			763
Benefits Paid		(836	)		(763	)
Plan Assets at Fair Value, End of Year	$	—		$	—
Unfunded Status of the Plan	$	(33,530	)	$	(37,551	)
Amounts Recognized in Accumulated Other Comprehensive Income
Net Loss		10,925			8,285
Total Pension Cost	$	10,925		$	8,285

Components of Net Periodic Benefit Cost

	2020			2019
Components of Net Periodic Benefit Cost
Service Cost	$	1,254		$	998
Interest Cost		1,306			1,393
Amortization of:
Net Loss		540			210
Net Periodic Pension Cost	$	3,100		$	2,601
Weighted Average Assumptions for Expense
Discount Rate		2.80	%		3.40	%
Expected Return on Plan Assets	N/A			N/A
Rate of Compensation Increase		4.40	%		4.40	%

Benefit Payments Representing the Company's Obligations to Employees

Fiscal Year	Pension Benefits
	(In thousands)
2021	$	921
2022		913
2023		904
2024		994
2025		1,062
Thereafter		28,736
	$	33,530

Business Segments and Geographic Information (Tables)

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Schedule of Operating and Reporting Segments

Segment disclosures below (in thousands) reflect the results of continuing operations. All transactions between segments are eliminated.

Fiscal Year	2020			2019			2018
Revenues:
U.S. Secure Services	$	1,571,216		$	1,601,679		$	1,492,973
GEO Care		551,342			614,249			580,313
International Services		211,621			232,016			253,874
Facility Construction and Design [1] [2]		15,919			29,978			4,226
Total revenues	$	2,350,098		$	2,477,922		$	2,331,386
Capital Expenditures:
U.S. Secure Services	$	58,410		$	69,074		$	163,208
GEO Care		44,913			45,000			30,136
International Services		1,142			1,468			2,322
Total capital expenditures [1]	$	104,465		$	115,542		$	195,666
Depreciation and amortization:
U.S. Secure Services	$	80,702		$	78,974		$	76,801
GEO Care		51,832			49,781			47,546
International Services		2,146			2,070			2,087
Total depreciation and amortization [1]	$	134,680		$	130,825		$	126,434
Operating Income:
U.S. Secure Services	$	298,952		$	322,506		$	297,453
GEO Care		97,330			147,036			138,911
International Services		19,610			16,723			12,816
Facility Construction & Design [1] [2]		54			74			—
Operating income from segments	$	415,946		$	486,339		$	449,180
General and Administrative Expenses		(193,372	)		(185,926	)		(184,515	)
Total operating income	$	222,574		$	300,413		$	264,665

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

2019 or 2018.

Schedule of Pre-Tax Income Reconciliation of Segments

Fiscal Year Ended	2020			2019			2018
	(In thousands)
Operating income from segments	$	415,946		$	486,339		$	449,180
Unallocated amounts:
General and administrative expense		(193,372	)		(185,926	)		(184,515	)
Net interest expense		(103,765	)		(122,090	)		(115,348	)
Gain (loss) on extinguishment of debt		5,319			(4,795	)		—
Income before income taxes and equity in earnings of affiliates	$	124,128		$	173,528		$	149,317

Geographical Information

	2020		2019		2018
	(In thousands)
Segment assets:
U.S. Secure Services	$	2,529,375	$	2,618,629	$	2,590,722
GEO Care		1,058,505		1,112,880		1,063,484
International Services		85,110		82,097		84,911
Facility Construction & Design		402,930		371,846		383,713
Total segment assets	$	4,075,920	$	4,185,452	$	4,122,830

Fiscal Year	2020		2019		2018
	(In thousands)
Revenues:
U.S. operations	$	2,123,045	$	2,216,401	$	2,073,286
Australia operations		201,932		235,462		231,164
South African operations		17,044		18,779		19,806
United Kingdom operations		8,077		7,280		7,130
Total revenues	$	2,350,098	$	2,477,922	$	2,331,386
Property and Equipment, net:
U.S. operations	$	2,109,070	$	2,131,877	$	2,145,197
Australia operations		12,908		12,215		13,006
South African operations		127		182		88
United Kingdom operations		90		448		319
Total Property and Equipment, net	$	2,122,195	$	2,144,722	$	2,158,610

Asset Reconciliation of Segments

The following is a reconciliation of the Company’s reportable segment assets to the Company’s total assets as of December 31, 2020 and 2019, respectively.

	2020		2019
	(In thousands)
Reportable segment assets	$	4,075,920	$	4,185,452
Cash		283,524		32,463
Deferred income tax assets		36,604		36,278
Restricted cash and investments, current and non-current		64,078		63,341
Total assets	$	4,460,126	$	4,317,534

Sources of Revenue

Fiscal Year	2020		2019		2018
	(In thousands)
Revenues:
Secure Services	$	1,782,837	$	1,833,695	$	1,746,847
GEO Care		551,342		614,249		580,313
Facility Construction and Design		15,919		29,978		4,226
Total revenues	$	2,350,098	$	2,477,922	$	2,331,386

Business Concentration

Except for the major customer noted in the following table, no other single customer made up greater than 10% of the Company’s consolidated revenues for the following fiscal years:

Customer		2020				2019				2018
Various agencies of the U.S Federal Government:			56	%			53	%			50	%

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Income (loss) Before Income Taxes and Equity Income

The United States and foreign components of income before income taxes and equity in earnings in affiliates are as follows:

	2020		2019		2018
	(In thousands)
Income before income taxes and equity in earnings in affiliates
United States	$	96,428	$	155,844	$	131,261
Foreign		27,700		17,684		18,056
Income before income taxes and equity in earnings in affiliates	$	124,128	$	173,528	$	149,317

Schedule of Provision for Income Taxes

The provision for income taxes consists of the following components:

	2020			2019			2018
	(In thousands)
Federal income taxes:
Current	$	8,259		$	13,018		$	9,340
Deferred		(255	)		(7,028	)		(2,195	)
		8,004			5,990			7,145
State income taxes:
Current		4,146			5,093			3,050
Deferred		47			(383	)		(1,889	)
		4,193			4,710			1,161
Foreign income taxes:
Current		(3,163	)		(875	)		497
Deferred		11,429			6,823			5,314
		8,266			5,948			5,811
Total U.S. and foreign provision for income taxes	$	20,463		$	16,648		$	14,117

Reconciliation of the Statutory U.S. Federal Tax Rate (21%) and the Effective Income Tax Rate

A reconciliation of the statutory U.S. federal tax rate of 21% and the effective income tax rate is as follows:

	2020			2019			2018
	(In thousands)
Provisions using statutory federal income tax rate	$	26,067		$	36,476		$	31,340
State income taxes, net of federal tax benefit		3,099			2,421			1,915
REIT benefit		(12,271	)		(22,395	)		(19,992	)
Change in valuation allowance		(1,775	)		1,456			(1,245	)
Federal tax credits		(2,015	)		(2,118	)		(1,904	)
Tax Cut and Jobs Act impact		—			—			(301	)
Foreign income taxes		1,373			1,934			1,479
Tax impact of vested equity compensation		3,628			185			949
Other, net		2,357			(1,311	)		1,876
Total provision for income taxes	$	20,463		$	16,648		$	14,117

Schedule of Deferred Tax Assets and Liabilities

The following table presents the breakdown between non-current net deferred tax assets as classified on the balance sheets as of December 31, 2020 and 2019:

	2020			2019
	(In thousands)
Deferred tax assets - non-current	$	36,604		$	36,278
Deferred tax liabilities - non-current		(30,726	)		(19,254	)
Total net deferred tax assets	$	5,878		$	17,024

The significant components of the Company's deferred tax assets and liabilities consisted of the following as of December 31, 2020 and 2019:

	2020			2019
Deferred tax assets:	(In thousands)
Net operating losses	$	25,260		$	32,394
Accrued liabilities		30,605			24,452
Deferred compensation		18,906			15,052
Accrued compensation		7,888			7,239
Deferred revenue		15,210			13,219
Tax credits		3,834			5,223
Equity awards		3,402			4,894
Depreciation		3,069			15,424
Operating lease liability		14,889			13,140
Other, net		777			1,817
Valuation allowance		(21,012	)		(22,786	)
Total deferred tax assets	$	102,828		$	110,068
Deferred tax liabilities:
Intangible assets	$	(21,885	)	$	(24,097	)
Capitalized transaction costs		(16,165	)		(16,797	)
Accounting method change		(4,667	)		(7,019	)
Prepaid expenses and other		(39,925	)		(32,493	)
Lease right-of-use assets		(14,308	)		(12,638	)
Total deferred tax liabilities	$	(96,950	)	$	(93,044	)

Total net deferred tax assets	$	5,878		$	17,024

Schedule of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	2020			2019			2018
	(In thousands)
Balance at Beginning of Period	$	5,469		$	4,584		$	4,461
Additions based on tax positions related to the current year		44			—			—
Additions for tax positions of prior years		166			994			298
Additions from current year acquisitions		—			—			—
Reductions for tax positions of prior years		—			—			—
Reductions as a result of a lapse of applicable statutes of limitations		(56	)		(109	)		(175	)
Balance at End of Period	$	5,623		$	5,469		$	4,584

Selected Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Data [Abstract]

Company's Quarterly Financial Data

The Company’s selected quarterly financial data is as follows (in thousands, except per share data attributable to GEO):

	First Quarter		Second Quarter		Third Quarter		Fourth Quarter [1]
2020
Revenues	$	605,017	$	587,829	$	579,136	$	578,116
Operating income		56,586		63,513		64,462		38,013
Net Income		25,121		36,654		39,172		11,884
Net Income Attributable to The GEO Group, Inc.		25,181		36,720		39,220		11,911
Basic earnings per share:
Net income per share	$	0.21	$	0.31	$	0.33	$	0.09
Diluted earnings per share:
Net income per share *	$	0.21	$	0.31	$	0.33	$	0.09

	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
2019
Revenues	$	610,667	$	613,966	$	631,579	$	621,710
Operating income		74,777		81,175		78,159		66,302
Net Income		40,649		41,836		45,885		38,042
Net Income Attributable to The GEO Group, Inc.		40,705		41,914		45,932		38,052
Basic earnings per share:
Net income per share	$	0.34	$	0.35	$	0.39	$	0.32
Diluted earnings per share:
Net income per share *	$	0.34	$	0.35	$	0.39	$	0.32

* Earnings per share table may contain slight summation differences due to rounding.

Summary of Business Organization, Operations and Significant Accounting Policies - Additional Information (Details)				1 Months Ended	12 Months Ended
	Jan. 26, 2021 bed	Jun. 19, 2020 bed	Mar. 24, 2020	Feb. 28, 2011 GBP (£) director £ / shares shares	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($) Property	Dec. 31, 2018 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2020 bed	Dec. 31, 2020 facility	Dec. 31, 2020 person	Dec. 31, 2020 detainee	Dec. 31, 2020	Dec. 31, 2020 Property	Dec. 31, 2020 GBP (£)	Jan. 01, 2013
Summary Of Business Organization Operations And Significant Accounting Policies [Line Items]
Number of beds \| bed									93,000
Correctional, detention and residential treatment facilities including projects under development \| facility										118
Provision of monitoring services tracking offenders (more than 139,000 offenders) \| person											210,000
Revenue					$ 2,350,098,000	$ 2,477,922,000	$ 2,331,386,000
Minimum % of REIT taxable income to be paid as dividend annually													90.00%			90.00%
Cash and cash equivalents						32,463,000	31,255,000	$ 283,524,000
Minimum period for payment receivable in arrears for services					30 days
Maximum period for payment receivable in arrears for services					60 days
Federal and state income tax overpayments						$ 3,300,000		0
Assets held for sale, number of properties \| Property						4
Assets Held for Sale						$ 6,059,000		9,108,000
Property and Equipment, Net						2,144,722,000	$ 2,158,610,000	2,122,195,000
Number of marketed idle facilities									990	2
Carrying values of idle facilities								24,000,000
Impairment charge					$ 5,700,000
Discount rate utilized to adjust cash flow					10.00%
Goodwill impairment charge					$ 21,146,000
Impairment of indefinite lived intangible assets					$ 0
Capitalized computer software, net						14,200,000		12,200,000
Deferred debt issuance cost, accumulated amortization						37,000,000.0		43,400,000
Debt issuance costs included in other non-current assets						30,500,000		24,500,000
Variable interest entity ownership percentage in joint venture					50.00%
Life term of contract			5 years
Partnership interest share amount \| £				£ 100
Units of partnership interest, amount \| shares				100
Value per partnership interest shares \| £ / shares				£ 1
Directors appointed to board by each party \| director				3
General liability insurance maximum recoverage per occurrence					$ 70,000,000.0
General liability insurance maximum coverage in annual aggregate					90,000,000.0
GEO care insurance maximum recoverable per occurrence					40,000,000.0
Deductible amount for general insurance liability and hospital professional insurance liability					3,000,000.0
Deductible amount for worker's compensation insurance liability								2,000,000.0
Deductible amount for automobile insurance liability					1,000,000.0
Reclassifications out of accumulated other comprehensive income (loss)					$ 0	$ (3,851,000)
Accounting Standards Update 2018-13
Summary Of Business Organization Operations And Significant Accounting Policies [Line Items]
Change in accounting principle, accounting standards update, adopted					true
Change in accounting principle, accounting standards update, adoption date					Jan. 01, 2020
Change in accounting principle, accounting standards update, immaterial effect					true
Accounting Standards Update 2016-13
Summary Of Business Organization Operations And Significant Accounting Policies [Line Items]
Change in accounting principle, accounting standards update, adopted					true
Change in accounting principle, accounting standards update, adoption date					Jan. 01, 2020
Change in accounting principle, accounting standards update, immaterial effect					true
Kensani Corrections
Summary Of Business Organization Operations And Significant Accounting Policies [Line Items]
Variable interest entity ownership percentage in joint venture					50.00%
Facility management contracts
Summary Of Business Organization Operations And Significant Accounting Policies [Line Items]
Amortization period					16 years 3 months 18 days
GEO Care
Summary Of Business Organization Operations And Significant Accounting Policies [Line Items]
Assets held for sale, number of properties \| Property														4
Number of marketed idle facilities \| facility										2
Carrying values of idle facilities								26,000,000
Number of vacant beds at its idle facilities \| bed									1,100
Goodwill impairment charge					$ 21,146,000
Idle Secure Facility
Summary Of Business Organization Operations And Significant Accounting Policies [Line Items]
Assets held for sale, number of properties \| Property														1
Idle Reentry Facility
Summary Of Business Organization Operations And Significant Accounting Policies [Line Items]
Assets held for sale, number of properties \| Property						2								1
Youth Facility
Summary Of Business Organization Operations And Significant Accounting Policies [Line Items]
Assets held for sale, number of properties \| Property						1								1
Other Noncurrent Assets
Summary Of Business Organization Operations And Significant Accounting Policies [Line Items]
Trade receivables						$ 400,000		300,000
Accrued Expenses
Summary Of Business Organization Operations And Significant Accounting Policies [Line Items]
Undiscounted reserves for workers compensation and general liability claims						68,200,000		78,900,000
Cornell Companies, Inc.
Summary Of Business Organization Operations And Significant Accounting Policies [Line Items]
Accounts receivable one year past due and still accruing					1 year
Foreign Subsidiaries
Summary Of Business Organization Operations And Significant Accounting Policies [Line Items]
Cash and cash equivalents						$ 20,600,000		24,300,000
Ravenhall \| The GEO Group Australia
Summary Of Business Organization Operations And Significant Accounting Policies [Line Items]
Facility, number of beds \| bed									1,300
GEO Amey
Summary Of Business Organization Operations And Significant Accounting Policies [Line Items]
Ownership percentage													50.00%
Units of partnership interest, amount \| shares				50
Line of credit, amount outstanding \| £															£ 12,000,000.0
GEO UK
Summary Of Business Organization Operations And Significant Accounting Policies [Line Items]
Variable interest entity ownership percentage in joint venture					50.00%
Units of partnership interest, amount \| shares				50
SACS
Summary Of Business Organization Operations And Significant Accounting Policies [Line Items]
Life term of contract					25 years
Reduction of government guarantee in case of default					80.00%
Investment in joint venture								$ 11,000,000
Bureau Of Prisons B O P
Summary Of Business Organization Operations And Significant Accounting Policies [Line Items]
Number of beds in detention facility \| bed		1,900
Life term of contract		4 years
Ravenhall \| Subsequent Event \| Bureau Of Prisons B O P
Summary Of Business Organization Operations And Significant Accounting Policies [Line Items]
Number of beds in detention facility \| bed	1,940
Expiration date	May 31, 2021
Spring Correctional Facility \| Subsequent Event \| Bureau Of Prisons B O P
Summary Of Business Organization Operations And Significant Accounting Policies [Line Items]
Number of beds in detention facility \| bed	1,732
Expiration date	Nov. 30, 2021
Flightline Correctional Facility \| Subsequent Event \| Bureau Of Prisons B O P
Summary Of Business Organization Operations And Significant Accounting Policies [Line Items]
Number of beds in detention facility \| bed	1,800
Expiration date	Nov. 30, 2021
North Lake Correctional Facility \| Subsequent Event \| Bureau Of Prisons B O P
Summary Of Business Organization Operations And Significant Accounting Policies [Line Items]
Number of beds in detention facility \| bed	1,800
Expiration date	Sep. 30, 2022
Reeves County Detention Center I & II \| Subsequent Event \| Bureau Of Prisons B O P
Summary Of Business Organization Operations And Significant Accounting Policies [Line Items]
Number of beds in detention facility \| bed	1,800
Expiration date	Sep. 30, 2022
Reeves County Detention Center III \| Subsequent Event \| Bureau Of Prisons B O P
Summary Of Business Organization Operations And Significant Accounting Policies [Line Items]
Number of beds in detention facility \| bed	1,376
Expiration date	Jun. 30, 2022
Great Plains, Big Spring, Flightline, Northlake Correctional Facilities, Reeves County Detention Center I & II and Reeves County Detention Center III \| Bureau Of Prisons B O P
Summary Of Business Organization Operations And Significant Accounting Policies [Line Items]
Revenue					$ 145,000,000
Minimum
Summary Of Business Organization Operations And Significant Accounting Policies [Line Items]
Provision of monitoring services tracking offenders using technology products (in detainees) \| detainee												100,000
Minimum \| Facility management contracts
Summary Of Business Organization Operations And Significant Accounting Policies [Line Items]
Amortization period					3 years
Minimum \| Technology
Summary Of Business Organization Operations And Significant Accounting Policies [Line Items]
Amortization period					7 years
Minimum \| Building and Building Improvements
Summary Of Business Organization Operations And Significant Accounting Policies [Line Items]
Useful life					2 years
Minimum \| Equipment and Furniture and Fixtures
Summary Of Business Organization Operations And Significant Accounting Policies [Line Items]
Useful life					3 years
Maximum \| Facility management contracts
Summary Of Business Organization Operations And Significant Accounting Policies [Line Items]
Amortization period					21 years
Maximum \| Technology
Summary Of Business Organization Operations And Significant Accounting Policies [Line Items]
Amortization period					8 years
Maximum \| Building and Building Improvements
Summary Of Business Organization Operations And Significant Accounting Policies [Line Items]
Useful life					50 years
Maximum \| Equipment and Furniture and Fixtures
Summary Of Business Organization Operations And Significant Accounting Policies [Line Items]
Useful life					10 years

Summary of Business Organization, Operations and Significant Accounting Policies - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Cash and Cash Equivalents	$ 283,524	$ 32,463	$ 31,255
Restricted cash and cash equivalents - current	26,740	32,418	51,678
Restricted cash and investments - non-current	37,338	30,923	22,431
Less Restricted investments - non-current	(35,749)	(28,332)	(20,892)
Total cash, cash equivalents and restricted cash and cash equivalents shown in the statement of cash flows	$ 311,853	$ 67,472	$ 84,472	$ 133,545

Summary of Business Organization, Operations and Significant Accounting Policies - Revenue Recognition and Facility Construction and Design (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation Of Revenue [Line Items]
Total Revenues	$ 578,116	$ 579,136	$ 587,829	$ 605,017	$ 621,710	$ 631,579	$ 613,966	$ 610,667	$ 2,350,098	$ 2,477,922	$ 2,331,386
U.S. Secure Services
Disaggregation Of Revenue [Line Items]
Total Revenues									1,571,216	1,601,679	1,492,973
GEO Care
Disaggregation Of Revenue [Line Items]
Total Revenues									551,342	614,249	580,313
International
Disaggregation Of Revenue [Line Items]
Total Revenues									211,621	232,016	253,874
Facility Construction and Design
Disaggregation Of Revenue [Line Items]
Total Revenues									15,919	29,978	4,226
Owned and Leased: Secure Services
Disaggregation Of Revenue [Line Items]
Total Revenues									1,198,881	1,228,299	1,110,749
Owned and Leased: Secure Services \| U.S. Secure Services
Disaggregation Of Revenue [Line Items]
Total Revenues									1,198,881	1,228,299	1,110,749
Owned and Leased: Community-based
Disaggregation Of Revenue [Line Items]
Total Revenues									145,491	176,001	170,805
Owned and Leased: Community-based \| GEO Care
Disaggregation Of Revenue [Line Items]
Total Revenues									145,491	176,001	170,805
Owned and Leased: Youth Services
Disaggregation Of Revenue [Line Items]
Total Revenues									75,792	87,189	91,824
Owned and Leased: Youth Services \| GEO Care
Disaggregation Of Revenue [Line Items]
Total Revenues									75,792	87,189	91,824
Managed Only
Disaggregation Of Revenue [Line Items]
Total Revenues									589,469	610,919	641,079
Managed Only \| U.S. Secure Services
Disaggregation Of Revenue [Line Items]
Total Revenues									372,335	373,380	382,224
Managed Only \| GEO Care
Disaggregation Of Revenue [Line Items]
Total Revenues									5,513	5,523	4,981
Managed Only \| International
Disaggregation Of Revenue [Line Items]
Total Revenues									211,621	232,016	253,874
Facility Construction and Design
Disaggregation Of Revenue [Line Items]
Total Revenues									15,919	29,978	4,226
Facility Construction and Design \| Facility Construction and Design
Disaggregation Of Revenue [Line Items]
Total Revenues									15,919	29,978	4,226
Non-residential Services and Other
Disaggregation Of Revenue [Line Items]
Total Revenues									324,546	345,536	312,703
Non-residential Services and Other \| GEO Care
Disaggregation Of Revenue [Line Items]
Total Revenues									$ 324,546	$ 345,536	$ 312,703

Summary of Business Organization, Operations and Significant Accounting Policies - Components of Accumulated Other Comprehensive Loss (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Components of Accumulated Other Comprehensive Loss [Roll Forward]
Beginning balance	$ 996,830,000
Current-period other comprehensive income (loss) before reclassifications	(2,254,000)	$ (568,000)
Amounts reclassified from other comprehensive income into earnings	0	3,851,000
Net current-period comprehensive income (loss)		3,283,000
Ending balance	913,102,000	996,830,000
Foreign currency translation adjustments, net of tax attributable to The GEO Group, Inc.
Components of Accumulated Other Comprehensive Loss [Roll Forward]
Beginning balance	(12,314,000)	(14,573,000)
Current-period other comprehensive income (loss) before reclassifications	3,107,000	2,259,000
Amounts reclassified from other comprehensive income into earnings		0
Net current-period comprehensive income (loss)		2,259,000
Ending balance	(9,207,000)	(12,314,000)
Unrealized loss on derivatives, net of tax
Components of Accumulated Other Comprehensive Loss [Roll Forward]
Beginning balance	(1,476,000)	(5,746,000)
Current-period other comprehensive income (loss) before reclassifications	(3,276,000)	419,000
Amounts reclassified from other comprehensive income into earnings		3,851,000
Net current-period comprehensive income (loss)		4,270,000
Ending balance	(4,752,000)	(1,476,000)
Pension adjustments, net of tax
Components of Accumulated Other Comprehensive Loss [Roll Forward]
Beginning balance	(6,545,000)	(3,299,000)
Current-period other comprehensive income (loss) before reclassifications	(2,085,000)	(3,246,000)
Amounts reclassified from other comprehensive income into earnings		0
Net current-period comprehensive income (loss)		(3,246,000)
Ending balance	(8,630,000)	(6,545,000)
Accumulated Other Comprehensive Income (Loss)
Components of Accumulated Other Comprehensive Loss [Roll Forward]
Beginning balance	(20,335,000)	(23,618,000)
Ending balance	$ (22,589,000)	$ (20,335,000)

Earnings Per Share Basic And Diluted [Abstract]

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 + Details

Summary of Business Organization, Operations and Significant Accounting Policies - Components of Accumulated Other Comprehensive Loss (Parenthetical) (Details)	May 22, 2019 USD ($)	Dec. 31, 2020 USD ($)	Aug. 31, 2019 USD ($) Instrument
Accumulated Other Comprehensive Income Loss [Line Items]
Long-term debt		$ 2,935,820,000
Interest Rate Swap
Accumulated Other Comprehensive Income Loss [Line Items]
Derivative, fixed interest rate		4.22%	4.22%
Notes Payable, Other Payables
Accumulated Other Comprehensive Income Loss [Line Items]
Number of promissory notes \| Instrument			2
Long-term debt			$ 44,300,000
Ravenhall
Accumulated Other Comprehensive Income Loss [Line Items]
Gain (loss) on interest rate cash flow hedge ineffectiveness	$ 3,900,000

Summary of Business Organization, Operations and Significant Accounting Policies - Stock Based Compensation (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Risk free interest rates	1.79%	2.44%	2.84%
Expected volatility	41.00%	41.00%	40.00%
Expected dividend rate	13.11%	8.47%	8.70%
Stock Options \| Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term	4 years	4 years	4 years
Stock Options \| Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term	5 years	5 years	5 years
Restricted Stock Award
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Risk free interest rates	0.85%	2.53%	2.58%
Expected volatility	30.30%	43.70%	44.50%
Beta	1.12	1.00	1.05

Shareholders' Equity - Additional Information (Details) - USD ($)		12 Months Ended
	Mar. 24, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Feb. 14, 2018	Jan. 01, 2013
Class Of Stock [Line Items]
Common stock, voting rights		one vote per share
Minimum % of REIT taxable income to be paid as dividend annually		90.00%				90.00%
Purchase of treasury shares		$ 9,771,000		$ 95,175,000
Preferred stock, shares authorized (in shares)		30,000,000	30,000,000
Preferred stock, shares outstanding (in shares)		0	0
Life term of contract	5 years
SACS
Class Of Stock [Line Items]
Life term of contract		25 years
Percentage of Profit Share of Parent in Joint Venture		88.75%
Percentage of Profit Share of Noncontrolling in Joint Venture		11.25%
Amended Credit Agreement
Class Of Stock [Line Items]
Maximum borrowing capacity		$ 100,000,000.0
Amended Credit Agreement \| Revolving Credit Facility \| Line of Credit
Class Of Stock [Line Items]
Maximum borrowing capacity					$ 900,000,000
Common Stock \| February2018 Stock Buy Back Program
Class Of Stock [Line Items]
Stock repurchase program, authorized amount					$ 200,000,000
Purchase of treasury share		553,665	0	4,210,254
Purchase of treasury shares		$ 9,000,000.0	$ 0	$ 95,200,000

Shareholders' Equity - Dividends Declared (Details) - USD ($) $ / shares in Units, $ in Millions	Oct. 06, 2020	Jul. 07, 2020	Apr. 06, 2020	Feb. 03, 2020	Oct. 14, 2019	Jul. 09, 2019	Apr. 03, 2019	Feb. 04, 2019	Oct. 15, 2018	Jul. 10, 2018	Apr. 11, 2018	Feb. 05, 2018
Dividends Payable [Line Items]
Dividends Payable, Date Declared	Oct. 06, 2020	Jul. 07, 2020	Apr. 06, 2020	Feb. 03, 2020	Oct. 14, 2019	Jul. 09, 2019	Apr. 03, 2019	Feb. 04, 2019	Oct. 15, 2018	Jul. 10, 2018	Apr. 11, 2018	Feb. 05, 2018
Dividends payable, date to be paid	Oct. 23, 2020	Jul. 24, 2020	Apr. 24, 2020	Feb. 21, 2020	Nov. 01, 2019	Jul. 26, 2019	Apr. 22, 2019	Feb. 22, 2019	Nov. 02, 2018	Jul. 27, 2018	May 03, 2018	Feb. 27, 2018
Dividends payable, date of record	Oct. 16, 2020	Jul. 17, 2020	Apr. 17, 2020	Feb. 14, 2020	Oct. 25, 2019	Jul. 19, 2019	Apr. 15, 2019	Feb. 15, 2019	Oct. 26, 2018	Jul. 20, 2018	Apr. 23, 2018	Feb. 16, 2018
Dividend Paid
Dividends Payable [Line Items]
Distribution Per Share (in dollars per share)	$ 0.34	$ 0.48	$ 0.48	$ 0.48	$ 0.48	$ 0.48	$ 0.48	$ 0.48	$ 0.47	$ 0.47	$ 0.47	$ 0.47
Aggregate Payment Amount	$ 41.5	$ 58.5	$ 58.5	$ 58.2	$ 58.2	$ 58.2	$ 58.2	$ 57.9	$ 57.2	$ 57.2	$ 57.4	$ 58.3
Dividend Paid \| Qualified Shareholder
Dividends Payable [Line Items]
Distribution Per Share (in dollars per share)									$ 0.046117	$ 0.046117	$ 0.046117	$ 0.046117
Dividend Paid \| Non Qualified Shareholder
Dividends Payable [Line Items]
Distribution Per Share (in dollars per share)	$ 0.1881193	$ 0.2655802	$ 0.2655802	$ 0.2655802	$ 0.2759699	$ 0.2759699	$ 0.2759699	$ 0.2759699	0.209022	0.209022	0.209022	0.209022
Dividend Paid \| Return Of Capital
Dividends Payable [Line Items]
Distribution Per Share (in dollars per share)	$ 0.1518807	$ 0.2144198	$ 0.2144198	$ 0.2144198	$ 0.2040301	$ 0.2040301	$ 0.2040301	$ 0.2040301	$ 0.2148609	$ 0.2148609	$ 0.2148609	$ 0.2148609

Equity Incentive Plans - Additional Information (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($) Metric $ / shares shares	Dec. 31, 2019 Metric $ / shares shares	Dec. 31, 2018 Metric $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted, Wtd. Avg. grant date fair value \| $ / shares	$ 1.59	$ 3.64	$ 5.91
Options granted (in shares)	480,000	400,000	500,000
Vesting period (in years)	3 years
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation costs related to awards \| $	$ 2.2
Expected weighted average period to recognize expense	2 years 3 months 18 days
Restricted Stock Award
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation costs related to awards \| $	$ 22.0
Expected weighted average period to recognize expense	2 years 2 months 12 days
Granted (in shares)	900,000
Performance measurement \| Metric	2	2	2
Restricted Stock Award \| Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting rights (as percent)	0.00%	0.00%	0.00%
Restricted Stock Award \| Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting rights (as percent)	200.00%	200.00%	200.00%
Restricted Stock Award \| Tranche One
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting rights (as percent)	50.00%	50.00%	50.00%
Performance period	3 years	3 years	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%	50.00%	50.00%
Performance period	3 years	3 years	3 years
Restricted Stock Award \| Certain Employees and Executive Officers
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted (in shares)	900,000	788,000	906,000
Market and Performance Shares \| Certain Employees and Executive Officers
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted (in shares)	360,000	250,000	352,500
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)	49,896	30,153	24,365
2014 Stock Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares authorized	4,600,000

Equity Incentive Plans - Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock option plan expense	$ 1,141	$ 1,085	$ 996
Restricted stock expense	$ 22,755	$ 21,260	$ 21,053

Equity Incentive Plans - Summary of Options Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Summary of the activity of stock option awards, shares
Options outstanding, Beginning Balance (in Shares)	1,590,000
Options granted (in shares)	480,000	400,000	500,000
Options forfeited/canceled (in shares)	(119,000)
Options outstanding, Ending Balance (in Shares)	1,951,000	1,590,000
Options vested and expected to vest (in Shares)	1,869,000
Options exercisable (in Shares)	1,051,000
Summary of the activity of stock option awards, weighted average exercise price
Options outstanding, Beginning Balance, Wtd. Avg. Exercise Price (in dollars per share)	$ 24.29
Options granted, Wtd. Avg. Exercise Price (in dollars per share)	14.64
Options forfeited/canceled, Wtd. Avg. Exercise Price (in dollars per share)	21.96
Options outstanding, Ending Balance, Wtd. Avg. Exercise Price (in dollars per share)	22.07	$ 24.29
Options vested and expected to vest, Wtd. Average Exercise Price (in dollars per share)	22.27
Options exercisable, Wtd. Avg. Exercise Price (in dollars per share)	$ 24.53
Options outstanding, Ending Balance, Wtd. Avg. Remaining Contractual Term	6 years 7 months 13 days	6 years 10 months 24 days
Options vested and expected to vest, Wtd. Avg Remaining Contractual Term	6 years 6 months 10 days
Options exercisable, Wtd. Avg. Remaining Contractual Term	5 years 1 month 17 days
Options outstanding, Beginning Balance, Average Intrinsic Value	$ 232
Options outstanding, Ending Balance, Average Intrinsic Value		$ 232
Intrinsic value of options exercised		433	$ 519
Fair value of shares vested	$ 1,061	$ 971	$ 794

Equity Incentive Plans - Options by Exercise Price (Details)	12 Months Ended
	Dec. 31, 2020 $ / shares shares
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Options outstanding, number outstanding (in shares) \| shares	1,951
Options outstanding, Wtd. Avg. remaining contractual life	6 years 7 months 13 days
Options outstanding, Wtd. Avg. exercise price (in dollars per share)	$ 22.07
Options exercisable, Number exercisable (in shares) \| shares	1,051
Options exercisable Wtd. Avg. Remaining Contractual Life	5 years 1 month 17 days
Options exercisable, Wtd. Avg. exercise price (in dollars per share)	$ 24.53
0-18.23
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Lower range limit, Exercise price (in dollars per share)	0
Upper range limit, Exercise price (in dollars per share)	$ 18.23
Options outstanding, number outstanding (in shares) \| shares	552
Options outstanding, Wtd. Avg. remaining contractual life	7 years 6 months 3 days
Options outstanding, Wtd. Avg. exercise price (in dollars per share)	$ 14.62
Options exercisable, Number exercisable (in shares) \| shares	109
Options exercisable Wtd. Avg. Remaining Contractual Life	8 months 26 days
Options exercisable, Wtd. Avg. exercise price (in dollars per share)	$ 14.53
18.24-22.26
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Lower range limit, Exercise price (in dollars per share)	18.24
Upper range limit, Exercise price (in dollars per share)	$ 22.26
Options outstanding, number outstanding (in shares) \| shares	588
Options outstanding, Wtd. Avg. remaining contractual life	6 years 1 month 13 days
Options outstanding, Wtd. Avg. exercise price (in dollars per share)	$ 20.99
Options exercisable, Number exercisable (in shares) \| shares	417
Options exercisable Wtd. Avg. Remaining Contractual Life	5 years 7 months 17 days
Options exercisable, Wtd. Avg. exercise price (in dollars per share)	$ 20.74
22.27-29.39
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Lower range limit, Exercise price (in dollars per share)	22.27
Upper range limit, Exercise price (in dollars per share)	$ 29.39
Options outstanding, number outstanding (in shares) \| shares	495
Options outstanding, Wtd. Avg. remaining contractual life	6 years 6 months 18 days
Options outstanding, Wtd. Avg. exercise price (in dollars per share)	$ 25.11
Options exercisable, Number exercisable (in shares) \| shares	272
Options exercisable Wtd. Avg. Remaining Contractual Life	5 years 2 months 19 days
Options exercisable, Wtd. Avg. exercise price (in dollars per share)	$ 27.11
29.40-50.00
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Lower range limit, Exercise price (in dollars per share)	29.4
Upper range limit, Exercise price (in dollars per share)	$ 50.00
Options outstanding, number outstanding (in shares) \| shares	316
Options outstanding, Wtd. Avg. remaining contractual life	6 years 1 month 13 days
Options outstanding, Wtd. Avg. exercise price (in dollars per share)	$ 32.27
Options exercisable, Number exercisable (in shares) \| shares	253
Options exercisable Wtd. Avg. Remaining Contractual Life	6 years 1 month 9 days
Options exercisable, Wtd. Avg. exercise price (in dollars per share)	$ 32.27

Equity Incentive Plans - Summary of Non-vested Stock Option Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Summary of the activity of stock option awards, shares
Options non-vested, beginning balance (in shares)	781
Options granted (in shares)	480
Vested (in shares)	(242)
Forfeited (in shares)	(119)
Options non-vested, ending balance (in shares)	900	781
Options non vested, Wtd. avg. grant date fair value beginning balance (in dollars per share)	$ 3.99
Granted, Wtd. Avg. grant date fair value (in dollars per share)	1.59	$ 3.64	$ 5.91
Vested, Wtd. Avg. grant date fair value (in dollars per share)	3.79
Forfeited, Wtd. Avg. grant date fair value (in dollars per share)	3.40
Options non vested, Wtd. avg. grant date fair value ending balance (in dollars per share)	$ 2.87	$ 3.99

Equity Incentive Plans - Summary of Restricted Stock Activity (Details) - Restricted Stock Award shares in Thousands	12 Months Ended
	Dec. 31, 2020 $ / shares shares
Summary of the activity of restricted stock
Restricted stock outstanding shares, Beginning Balance (in shares) \| shares	2,047
Granted (in shares) \| shares	900
Vested (in shares) \| shares	(736)
Forfeited/canceled (in shares) \| shares	(57)
Restricted stock outstanding shares, Ending Balance (in shares) \| shares	2,154
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	$ 27.33
Granted Wtd. Avg. Grant Date Fair Value (in dollars per share) \| $ / shares	15.30
Vested Wtd. Avg. Grant Date Fair Value (in dollars per share) \| $ / shares	27.79
Forfeited/Canceled Wtd. Avg. Grant Date Fair Value (in dollars per share) \| $ / shares	20.36
Restricted stock outstanding Wtd. Avg. Grant Date Fair Value, Ending Balance (in dollars per share) \| $ / shares	$ 20.61

Earnings Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2020

Sep. 30, 2020

Jun. 30, 2020

Mar. 31, 2020

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2019

Mar. 31, 2019

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Loss Attributable to Noncontrolling Interests

$ 11,884

$ 39,172

$ 36,654

$ 25,121

$ 38,042

$ 45,885

$ 41,836

$ 40,649

$ 112,831

$ 166,412

$ 144,827

201

191

262

Net income attributable to The GEO Group, Inc.

$ 11,911

$ 39,220

$ 36,720

$ 25,181

$ 38,052

$ 45,932

$ 41,914

$ 40,705

$ 113,032

$ 166,603

$ 145,089

Basic earnings per share

Weighted average shares outstanding

119,719

119,097

120,241

Per share amount

$ 0.09

$ 0.33

$ 0.31

$ 0.21

$ 0.32

$ 0.39

$ 0.35

$ 0.34

$ 0.94

$ 1.40

$ 1.21

Diluted:

Weighted average shares outstanding

119,719

119,097

120,241

Dilutive effect of equity incentive plans

272

214

506

Weighted average shares assuming dilution

119,991

119,311

120,747

Per share amount - diluted

$ 0.09

^[1]

$ 0.33

^[1]

$ 0.31

^[1]

$ 0.21

^[1]

$ 0.32

^[1]

$ 0.39

^[1]

$ 0.35

^[1]

$ 0.34

^[1]

$ 0.94

$ 1.40

$ 1.20

[1]	Earnings per share table may contain slight summation differences due to rounding.

Earnings Per Share - Additional Information (Details) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Stock Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	1,931,407	1,495,210	931,473
Restricted Stock Award
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	1,652,986	1,514,177	680,062

Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 3,011,716	$ 2,963,752
Less accumulated depreciation and amortization	(889,521)	(819,030)
Property and equipment, net	2,122,195	2,144,722	$ 2,158,610
Land
Property Plant And Equipment [Line Items]
Property and equipment, gross	128,498	128,874
Buildings and improvements
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 2,264,910	2,229,956
Buildings and improvements \| Minimum
Property Plant And Equipment [Line Items]
Useful life	2 years
Buildings and improvements \| Maximum
Property Plant And Equipment [Line Items]
Useful life	50 years
Leasehold improvements
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 283,561	291,511
Leasehold improvements \| Minimum
Property Plant And Equipment [Line Items]
Useful life	1 year
Leasehold improvements \| Maximum
Property Plant And Equipment [Line Items]
Useful life	29 years
Equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 225,509	216,604
Equipment \| Minimum
Property Plant And Equipment [Line Items]
Useful life	3 years
Equipment \| Maximum
Property Plant And Equipment [Line Items]
Useful life	10 years
Furniture, fixtures and computer software
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 66,375	64,828
Furniture, fixtures and computer software \| Minimum
Property Plant And Equipment [Line Items]
Useful life	1 year
Furniture, fixtures and computer software \| Maximum
Property Plant And Equipment [Line Items]
Useful life	7 years
Facility construction in progress
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 42,863	$ 31,979

Property and Equipment - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property Plant And Equipment [Abstract]
Depreciation expense	$ 112,400	$ 107,900	$ 103,500
Assets under finance leases	19,400	17,100
Accumulated amortization related to capital leases	15,400	14,200
Depreciation expense related to capital leases	$ 1,225	$ 1,000	$ 1,000

Contract Receivable (Details) $ in Thousands	12 Months Ended
Contract Receivable (Details) $ in Thousands	Dec. 31, 2020 USD ($) bed	Dec. 31, 2019 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Contract receivable	$ 396,647	$ 366,697
Ravenhall
Accounts, Notes, Loans and Financing Receivable [Line Items]
Contract receivable	$ 402,900
Loan issued, interest rate	8.97%
Department of Justice, State of Victoria \| Facility Constructions and Design
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of beds in detention facility \| bed	1,300
Facility operation contract term	25 years

Derivative Financial Instruments - Additional Information (Details) $ in Millions		12 Months Ended
	May 22, 2019 USD ($)	Dec. 31, 2020 USD ($) Instrument	Aug. 31, 2019
Ravenhall
Derivative [Line Items]
Gain (loss) on interest rate cash flow hedge ineffectiveness	$ 3.9
Interest Rate Swap
Derivative [Line Items]
Derivative, number of instruments held \| Instrument		2
Notional amount		$ 44.3
Derivative, fixed interest rate		4.22%	4.22%
Change in fair value of derivative instrument classified as cash flow hedge		$ 4.8
Value of swap liability		$ 6.0
Interest Rate Swap \| Operating Phase of Asset \| Ravenhall, Australia
Derivative [Line Items]
Derivative, fixed interest rate		4.20%

Goodwill and Other Intangible Assets - Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Changes in the Company's goodwill balances
Beginning balance	$ 776,356	$ 776,359
Impairment charges [1]	(21,146)
Foreign currency translation	40	(3)
Ending balance	755,250	776,356
U.S. Secure Services
Changes in the Company's goodwill balances
Beginning balance	316,366	316,366
Ending balance	316,366	316,366
GEO Care
Changes in the Company's goodwill balances
Beginning balance	459,589	459,589
Impairment charges [1]	(21,146)
Ending balance	438,443	459,589
International Services
Changes in the Company's goodwill balances
Beginning balance	401	404
Foreign currency translation	40	(3)
Ending balance	$ 441	$ 401

Goodwill and Other Intangible Assets - Goodwill (Parenthetical) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill remaining after impairment charge	$ 148.8

Goodwill and Other Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Schedule of intangible assets
Intangible assets, gross carrying amount	$ 387,298	$ 387,332
Accumulated Amortization	(199,551)	(177,262)
Total acquired intangible assets, Net carrying amount	187,747	210,070
Net Carrying Amount	142,547
Trade names
Schedule of intangible assets
Indefinite lived intangible assets	45,200	45,200
Facility management contracts
Schedule of intangible assets
Gross Carrying Amount	308,398	308,432
Accumulated Amortization	(168,848)	(148,171)
Net Carrying Amount	$ 139,550	160,261
Amortization period	16 years 3 months 18 days
Technology
Schedule of intangible assets
Gross Carrying Amount	$ 33,700	33,700
Accumulated Amortization	(30,703)	(29,091)
Net Carrying Amount	$ 2,997	$ 4,609
Amortization period	7 years 3 months 18 days

Goodwill and Other Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Finite Lived Intangible Assets [Line Items]
Amortization expense	$ 22.3	$ 22.3	$ 22.9
Facility management contracts
Finite Lived Intangible Assets [Line Items]
Weighted average period before renewal or extension	2 years

Goodwill and Other Intangible Assets - Estimated Amortization Expense (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2021	$ 21,189
2022	16,705
2023	13,481
2024	9,748
2025	9,696
Thereafter	71,728
Net Carrying Amount	$ 142,547

Financial Instruments - Fair Value Assets and Liabilities Measured on Recurring Basis (Details) - Recurring - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Restricted investments:
Rabbi Trust	$ 35,749	$ 28,332
Fixed income securities	1,932	1,892
Significant Other Observable Inputs (Level 2)
Restricted investments:
Rabbi Trust	35,749	28,332
Fixed income securities	1,932	1,892
Interest Rate Swap
Liabilities:
Interest rate swap derivatives	6,015	1,869
Interest Rate Swap \| Significant Other Observable Inputs (Level 2)
Liabilities:
Interest rate swap derivatives	$ 6,015	$ 1,869

Financial Instruments - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Financial Instruments Financial Assets Balance Sheet Groupings [Abstract]
Accounts receivable, transferred to third party	$ 3.0	$ 6.9
Proceeds from sale and collection of receivables	$ 3.0	$ 6.9

Fair Value of Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Assets:
Cash and cash equivalents	$ 283,524	$ 32,463	$ 31,255
Carrying Value
Assets:
Cash and cash equivalents	283,524	32,463
Restricted cash and investments	28,329	35,010
Liabilities:
Borrowings under Senior Credit Facility	1,474,437	1,298,671
Non-recourse debt	344,614	328,178
Fair Value
Assets:
Cash and cash equivalents	283,524	32,463
Restricted cash and investments	28,329	35,010
Liabilities:
Borrowings under Senior Credit Facility	1,342,066	1,218,861
Non-recourse debt	344,632	327,792
5.875% Senior Notes due 2024 \| Carrying Value
Liabilities:
Senior notes, fair value	193,958	193,958
5.875% Senior Notes due 2024 \| Fair Value
Liabilities:
Senior notes, fair value	192,736	194,239
5.125% Senior Notes due 2023 \| Carrying Value
Liabilities:
Senior notes, fair value	281,783	300,000
5.125% Senior Notes due 2023 \| Fair Value
Liabilities:
Senior notes, fair value	256,096	287,982
5.875% Senior Notes due 2022 \| Carrying Value
Liabilities:
Senior notes, fair value	242,500	250,000
5.875% Senior Notes due 2022 \| Fair Value
Liabilities:
Senior notes, fair value	202,458	228,493
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	279,493	314,052
Quoted Prices in Active Markets (Level 1) \| Fair Value
Assets:
Cash and cash equivalents	283,524	32,463
Restricted cash and investments	28,329	35,010
Significant Other Observable Inputs (Level 2) \| Fair Value
Liabilities:
Borrowings under Senior Credit Facility	1,342,066	1,218,861
Non-recourse debt	344,632	327,792
Significant Other Observable Inputs (Level 2) \| 5.875% Senior Notes due 2024 \| Fair Value
Liabilities:
Senior notes, fair value	192,736	194,239
Significant Other Observable Inputs (Level 2) \| 5.125% Senior Notes due 2023 \| Fair Value
Liabilities:
Senior notes, fair value	256,096	287,982
Significant Other Observable Inputs (Level 2) \| 5.875% Senior Notes due 2022 \| Fair Value
Liabilities:
Senior notes, fair value	202,458	228,493
Significant Other Observable Inputs (Level 2) \| 6.00% Senior Notes due 2026 \| Fair Value
Liabilities:
Senior notes, fair value	$ 279,493	$ 314,052

Fair Value of Assets and Liabilities - Additional Information (Details) - Senior Notes	Dec. 31, 2020	Dec. 31, 2019	Sep. 25, 2014	Mar. 19, 2013
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%		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%	5.875%
5.875% Senior Notes due 2022
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Stated interest rate	5.875%	5.875%

Accrued Expenses and other current liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Accrued Liabilities Current [Abstract]
Accrued interest	$ 17,614	$ 17,850
Accrued bonus	16,986	16,914
Accrued insurance	78,893	73,192
Accrued repair obligations for damaged property		4,343
Accrued property and other taxes	38,524	35,192
Construction retainage	1,062	1,097
Other	49,299	43,020
Total	$ 202,378	$ 191,608

Debt - Summary of Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Line Of Credit Facility [Line Items]
Long-term debt	$ 2,935,820
Finance Lease Obligations	5,029	$ 4,570
Other debt	42,413	43,410
Total debt	2,915,272	2,744,695
Current portion of finance lease obligations, long-term debt and non-recourse debt	(26,180)	(24,208)
Finance Lease Obligations, long-term portion	(2,988)	(2,954)
Non-Recourse Debt, long-term portion	(324,223)	(309,236)
Long-Term Debt	2,561,881	2,408,297
Line of Credit
Line Of Credit Facility [Line Items]
Term loan	770,000	778,000
Unamortized debt issuance costs on term loan	(4,043)	(5,410)
Unamortized debt issuance costs	(1,705)	(2,281)
Line of credit, amount outstanding	704,437	520,671
Total Senior Credit Facility	1,468,689	1,290,980
Long-term debt	1,111,339
Senior Notes \| 6.00% Senior Notes due 2026
Line Of Credit Facility [Line Items]
Unamortized debt issuance costs	(3,709)	(4,282)
Long-term debt, gross	350,000	350,000
Long-term debt	346,291	345,718
Senior Notes \| 5.875% Senior Notes due 2024
Line Of Credit Facility [Line Items]
Unamortized debt issuance costs	(2,000)	(2,532)
Long-term debt, gross	242,500	250,000
Long-term debt	240,500	247,468
Senior Notes \| 5.125% Senior Notes due 2023
Line Of Credit Facility [Line Items]
Unamortized debt issuance costs	(2,033)	(2,876)
Long-term debt, gross	281,783	300,000
Long-term debt	279,750	297,124
Senior Notes \| 5.875% Senior Notes due 2022
Line Of Credit Facility [Line Items]
Unamortized debt issuance costs	(710)	(1,351)
Long-term debt, gross	193,958	193,958
Long-term debt	193,248	192,607
Non Recourse Debt
Line Of Credit Facility [Line Items]
Unamortized debt issuance costs on term loan	(25)	(81)
Unamortized debt issuance costs	(5,237)	(5,279)
Non-Recourse Debt	344,614	328,178
Total Non-Recourse Debt	$ 339,352	$ 322,818

Debt - Summary of Debt (Parenthetical) (Details) - Senior Notes	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Sep. 25, 2014	Mar. 19, 2013
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
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
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
5.875% Senior Notes due 2022
Line Of Credit Facility [Line Items]
Stated interest rate	5.875%	5.875%
Debt instrument maturity year	2022	2022

Debt (Amended and Restated Credit Agreement) (Details)		12 Months Ended
Debt (Amended and Restated Credit Agreement) (Details)	Jun. 12, 2019 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2020 AUD ($)	Jun. 12, 2019 AUD ($)
Debt Instrument [Line Items]
Gain (loss) on extinguishment of debt		$ 5,319,000	$ (4,795,000)
Long-term debt		2,935,820,000
Additional increase in borrowing capacity ability		450,000,000.0
Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Gain (loss) on extinguishment of debt	$ (1,200,000)
Debt issuance costs, gross	4,700,000
Revolver
Debt Instrument [Line Items]
Line of credit, amount outstanding		704,400,000
Additional Revolver
Debt Instrument [Line Items]
Borrowing capacity remaining		136,000,000.0
Line of Credit
Debt Instrument [Line Items]
Long-term debt		1,111,339,000
Line of credit, amount outstanding		704,437,000	520,671,000
Term loan		$ 770,000,000	$ 778,000,000
Revolving Credit Facility \| Line of Credit \| Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 900,000,000
Maximum borrowing capacity	6.25				6.25
Maximum borrowing capacity	3.50				3.50
Maximum borrowing capacity	3.00				3.00
Weighted average interest rates on outstanding borrowings		2.58%		2.58%
Revolving Credit Facility \| Line of Credit \| Amended and Restated 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		$ 770,000,000.0
Term Loan \| Line of Credit \| Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 792,000,000.0
Term Loan \| Line of Credit \| Amended and Restated 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		59,600,000
Letter of credit \| Revolver \| Ravenhall
Debt Instrument [Line Items]
Maximum exposure, undiscounted		45,500,000		$ 59,000,000
Letter of credit \| Line of Credit \| Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity					$ 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		$ 77,100,000		100,000,000
Debt instrument agreement notice period		90 days
Line of credit, amount outstanding				$ 59,000,000
Accordion \| Line of Credit \| Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Accordion feature, increase limit	$ 450,000,000.0

Debt (6.00% Senior Notes) (Details) - Senior Notes - 6.00% Senior Notes due 2026 - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Apr. 18, 2016
Debt Instrument [Line Items]
Stated interest rate	6.00%	6.00%
Debt instrument, face amount			$ 350,000,000.0
Debt instrument, coupon rate	6.00%
Debt instrument, yield to maturity	6.00%
Debt instrument, payment terms	Interest on the 6.00% Senior Notes is payable semi-annually on April 15 and October 15 of each year, commencing on October 15, 2016.
Debt instrument, frequency of payment	semi-annually
Debt instrument, commencement date of first required payment	Oct. 15, 2016
Debt instrument, maturity date	Apr. 15, 2026
Percentage of principal amount redeemable	101.00%
Violation or event of default, interest payment failure, term	30 days
Violation or event of default, interest payment failure, maximum excess proceeds on sale of asset	$ 50,000,000.0
Violation or event of default, interest payment failure, failure to comply with other indenture agreements, term	60 days
Redemption, Period On Or Prior To April 15, 2019
Debt Instrument [Line Items]
Percentage of principal amount redeemed	35.00%
Redemption price percentage	106.00%
Redemption, Period On Or Prior To April 15, 2019 \| Minimum
Debt Instrument [Line Items]
Notice period prior to redemption	30 days
Redemption, Period On Or Prior To April 15, 2019 \| Maximum
Debt Instrument [Line Items]
Notice period prior to redemption	60 days
Redemption, Period Before April 15, 2021
Debt Instrument [Line Items]
Redemption price percentage	100.00%

Debt - Debt Instrument Redemption (6.00% Senior Notes) (Details) - 6.00% Senior Notes due 2026	12 Months Ended
	Dec. 31, 2020
Redemption, Period One
Debt Instrument [Line Items]
Redemption price percentage	102.00%
Redemption, Period Two
Debt Instrument [Line Items]
Redemption price percentage	101.00%
Redemption, Period Three
Debt Instrument [Line Items]
Redemption price percentage	100.00%

Debt (5.875% Senior Notes Due 2024) (Details) - Senior Notes - 5.875% Senior Notes due 2024 - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Sep. 25, 2014
Debt Instrument [Line Items]
Stated interest rate	5.875%	5.875%	5.875%
Debt instrument, face amount			$ 250,000,000.0
Debt instrument, coupon rate	5.875%
Debt instrument, yield to maturity	5.875%
Debt instrument, payment terms	Interest is payable semi-annually in cash in arrears on April 15 and October 15, beginning April 15, 2015.
Debt instrument, frequency of payment	semi-annually
Debt instrument, commencement date of first required payment	Oct. 15, 2024
Debt instrument, maturity date	Apr. 15, 2015
Violation or event of default, interest payment failure, term	30 days
Violation or event of default, interest payment failure, maximum excess proceeds on sale of asset	$ 25,000,000.0
Violation or event of default, interest payment failure, failure to comply with other indenture agreements, term	60 days
Redemption, Period On Or Prior To October 15, 2019
Debt Instrument [Line Items]
Redemption price percentage	100.00%

Debt - Debt Instrument Redemption (5.875% Senior Notes 2024) (Details) - 5.875% Senior Notes due 2024	12 Months Ended
	Dec. 31, 2020
Redemption, Period One
Debt Instrument [Line Items]
Redemption price percentage	100.979%
Redemption, Period Two
Debt Instrument [Line Items]
Redemption price percentage	100.00%

Debt (5.125% Senior Notes) (Details) - Senior Notes - 5.125% Senior Notes due 2023 - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Mar. 19, 2013
Debt Instrument [Line Items]
Stated interest rate	5.125%	5.125%	5.125%
Debt instrument, face amount			$ 300,000,000.0
Debt instrument, coupon rate	5.125%
Debt instrument, yield to maturity	5.125%
Debt instrument, payment terms	Interest is payable semi-annually on April 1 and October 1 each year, beginning October 1, 2013.
Debt instrument, frequency of payment	semi-annually
Debt instrument, commencement date of first required payment	Oct. 01, 2013
Debt instrument, maturity date	Apr. 01, 2023
Percentage of principal amount redeemable	101.00%
Violation or event of default, interest payment failure, term	30 days
Violation or event of default, interest payment failure, maximum excess proceeds on sale of asset	$ 25,000,000.0
Violation or event of default, interest payment failure, failure to comply with other indenture agreements, term	60 days
Redemption, Period on or Prior To April 1, 2018
Debt Instrument [Line Items]
Redemption price calculation contributor, percentage	100.00%
Minimum \| Redemption, Period on or Prior To April 1, 2018
Debt Instrument [Line Items]
Notice period prior to redemption	30 days
Minimum \| Redemption, Period on or After April 1, 2018
Debt Instrument [Line Items]
Notice period prior to redemption	30 days
Maximum \| Redemption, Period on or Prior To April 1, 2018
Debt Instrument [Line Items]
Notice period prior to redemption	60 days
Maximum \| Redemption, Period on or After April 1, 2018
Debt Instrument [Line Items]
Notice period prior to redemption	60 days

Debt - Debt Instrument Redemption (5.125% Senior Notes) (Details)	12 Months Ended
	Dec. 31, 2020
5.125% Senior Notes due 2023 \| Redemption, Period One
Debt Instrument [Line Items]
Redemption price percentage	100.00%

Debt (5.875% Senior Notes) (Details) - Senior Notes - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Oct. 03, 2013	Mar. 19, 2013
5.875% Senior Notes due 2022
Debt Instrument [Line Items]
Stated interest rate	5.875%	5.875%
Debt instrument, face amount			$ 250,000,000.0
Debt instrument, coupon rate	5.875%
Debt instrument, yield to maturity	5.875%
Debt instrument, payment terms	Interest on the 5.875% Senior Notes due 2022 is payable semi-annually in cash in arrears on January 15 and July 15, commencing on January 15, 2014.
Debt instrument, frequency of payment	semi-annually
Debt instrument, commencement date of first required payment	Jan. 15, 2014
Debt instrument, maturity date	Jan. 15, 2022
Percentage of principal amount redeemable	101.00%
5.875% Senior Notes due 2022 \| Minimum \| Redemption, Period on or Prior To April 1, 2018
Debt Instrument [Line Items]
Notice period prior to redemption	30 days
5.875% Senior Notes due 2022 \| Maximum \| Redemption, Period on or Prior To April 1, 2018
Debt Instrument [Line Items]
Notice period prior to redemption	60 days
5.125% Senior Notes due 2023
Debt Instrument [Line Items]
Stated interest rate	5.125%	5.125%		5.125%
Debt instrument, face amount				$ 300,000,000.0
Debt instrument, coupon rate	5.125%
Debt instrument, yield to maturity	5.125%
Debt instrument, payment terms	Interest is payable semi-annually on April 1 and October 1 each year, beginning October 1, 2013.
Debt instrument, frequency of payment	semi-annually
Debt instrument, commencement date of first required payment	Oct. 01, 2013
Debt instrument, maturity date	Apr. 01, 2023
Percentage of principal amount redeemable	101.00%
Violation or event of default, interest payment failure, term	30 days
Violation or event of default, interest payment failure, maximum excess proceeds on sale of asset	$ 25,000,000.0
Violation or event of default, interest payment failure, failure to comply with other indenture agreements, term	60 days
5.125% Senior Notes due 2023 \| Minimum \| Redemption, Period on or Prior To April 1, 2018
Debt Instrument [Line Items]
Notice period prior to redemption	30 days
5.125% Senior Notes due 2023 \| Maximum \| Redemption, Period on or Prior To April 1, 2018
Debt Instrument [Line Items]
Notice period prior to redemption	60 days

Debt - Debt Instrument Redemption (5.875% Senior Notes 2022) (Details)	12 Months Ended
	Dec. 31, 2020
5.875% Senior Notes due 2022 \| Redemption, Period One
Debt Instrument [Line Items]
Redemption price percentage	100.00%

Debt (Debt Repurchases) (Details) - USD ($)	12 Months Ended
Debt (Debt Repurchases) (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Sep. 25, 2014	Mar. 19, 2013
Debt Instrument [Line Items]
Gain (loss) on extinguishment of debt	$ 5,319,000	$ (4,795,000)
Amended Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 100,000,000.0
Senior Notes and Term Loan
Debt Instrument [Line Items]
Debt instrument, repurchased face amount	On February 11, 2021, the Company’s Board of Directors authorized a new repurchase program for repurchases/retirements of the above referenced Senior Notes and term loan, subject to certain limitations up to an aggregate maximum of $100.0 million through December 2022.
Senior Notes
Debt Instrument [Line Items]
Gain (loss) on extinguishment of debt	$ 5,300,000
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	$ 7,500,000
Percentage of principal amount redeemed	77.28%
Repurchase amount	$ 5,800,000
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	$ 18,200,000
Percentage of principal amount redeemed	78.99%
Repurchase amount	$ 14,300,000
Senior Notes \| 5.875% Senior Notes due 2022
Debt Instrument [Line Items]
Stated interest rate	5.875%	5.875%
Debt instrument, repurchased face amount		$ 56,000,000.0
Percentage of principal amount redeemed		97.55%
Repurchase amount		$ 54,700,000
Gain (loss) on extinguishment of debt		$ 900,000

Debt (Nonrecourse Debt) (Details) $ in Millions	1 Months Ended	12 Months Ended
Debt (Nonrecourse Debt) (Details) $ in Millions	Aug. 31, 2019 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2020 AUD ($)	May 22, 2019 USD ($)	May 22, 2019 AUD ($)	Dec. 31, 2018 USD ($)	Dec. 09, 2011 USD ($)
Debt Instrument [Line Items]
Long-Term Debt		$ 2,561,881,000	$ 2,408,297,000
Restricted cash and cash equivalents - current		26,740,000	32,418,000				$ 51,678,000
Gain (loss) on extinguishment of debt		5,319,000	(4,795,000)
Long-term debt		$ 2,935,820,000
Interest Rate Swap
Debt Instrument [Line Items]
Derivative, fixed interest rate	4.22%	4.22%		4.22%
LIBOR
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate	200.00%
Non Recourse Debt 2011 Revenue Bonds
Debt Instrument [Line Items]
Stated interest rate								6.40%
Long-Term Debt								$ 54,400,000
Non Recourse Debt 2011 Revenue Bonds \| Northwest Detention Center
Debt Instrument [Line Items]
Non-recourse debt		$ 8,100,000
Non Recourse Debt Northwest Detention Center \| Northwest Detention Center
Debt Instrument [Line Items]
Restricted cash and cash equivalents - current		3,700,000
Nonrecourse
Debt Instrument [Line Items]
Long-term debt		$ 344,614,000
Nonrecourse \| Ravenhall
Debt Instrument [Line Items]
Debt instrument, maturity date		Mar. 31, 2042
Gain (loss) on extinguishment of debt		$ (4,500,000)
Debt issuance costs, gross		$ 7,500,000
Nonrecourse \| Ravenhall \| Non Recourse Notes
Debt Instrument [Line Items]
Stated interest rate		4.23%		4.23%
Debt instrument, face amount					$ 355,900,000	$ 461.6
Nonrecourse \| Ravenhall \| National Australia Bank Limited \| Construction Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 609,800,000		$ 791.0
Debt instrument basis spread on variable rate		200.00%
Notes Payable, Other Payables
Debt Instrument [Line Items]
Debt instrument, maturity date	Sep. 01, 2034
Long-term debt	$ 44,300,000
Debt issuance costs, net			$ 700,000

Debt - Debt Repayment Schedules Under Capital Lease Obligations, Long-Term Debt and Non-Recourse Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt repayment schedules under capital lease obligations, long-term debt and non-recourse debt
2021, finance lease	$ 2,433
2022, finance lease	1,729
2023, finance lease	497
2024, finance lease	497
2025, finance lease	274
Total minimum lease payments	5,430
Interest imputed on Capital Leases	(401)
Current portion	(2,041)
Finance Lease Obligations	2,988	$ 2,954
2021	26,950
2022	213,291
2023	300,479
2024	1,704,191
2025	11,822
Thereafter	679,087
Long-term debt	2,935,820
Interest imputed on Capital Leases	401
Original issue discount	(1,730)
Current portion	(26,558)
Non-current portion	2,907,131
Line of Credit
Debt repayment schedules under capital lease obligations, long-term debt and non-recourse debt
2021	1,071
2022	195,075
2023	282,949
2024	243,708
2025	1,274
Thereafter	387,262
Long-term debt	1,111,339
Original issue discount	0
Current portion	(1,071)
Non-current portion	1,110,268
Nonrecourse
Debt repayment schedules under capital lease obligations, long-term debt and non-recourse debt
2021	15,446
2022	8,487
2023	9,033
2024	9,549
2025	10,274
Thereafter	291,825
Long-term debt	344,614
Original issue discount	(25)
Current portion	(15,446)
Non-current portion	329,143
Revolver
Debt repayment schedules under capital lease obligations, long-term debt and non-recourse debt
2021	0
2022	0
2023	0
2024	704,437
2025	0
Thereafter	0
Long-term debt	704,437
Original issue discount	0
Current portion	0
Non-current portion	704,437
Term Loan
Debt repayment schedules under capital lease obligations, long-term debt and non-recourse debt
2021	8,000
2022	8,000
2023	8,000
2024	746,000
2025	0
Thereafter	0
Long-term debt	770,000
Original issue discount	(1,705)
Current portion	(8,000)
Non-current portion	$ 760,295

Debt (Guarantees) (Details) £ in Millions	12 Months Ended
Debt (Guarantees) (Details) £ in Millions	Dec. 31, 2020 USD ($) Guarantee	Dec. 31, 2020 GBP (£) Guarantee	Dec. 31, 2020 AUD ($) Guarantee	Dec. 31, 2020 ZAR (R) Guarantee
Debt Instrument [Line Items]
Variable interest entity ownership percentage in joint venture	50.00%
GEO Amey
Debt Instrument [Line Items]
Lines of credit \| £		£ 12.0
Ravenhall
Debt Instrument [Line Items]
Number of letters of guarantee outstanding under separate international facilities relating to performance guarantees \| Guarantee	7	7	7	7
Letters of guarantee outstanding relating to performance guarantees	$ 10,300,000
Ravenhall \| Letter of credit \| Revolver
Debt Instrument [Line Items]
Maximum exposure, undiscounted	45,500,000		$ 59,000,000
SACS
Debt Instrument [Line Items]
Maximum loan amount under stand by facility to SACS	1,400,000			R 20,000,000.0
Line of credit facility, amount outstanding	$ 0

Leases - Additional Information (Details)	12 Months Ended
Leases - Additional Information (Details)	Dec. 31, 2020
Minimum
Lessee Lease Description [Line Items]
Finance lease, remaining term	1 year
Maximum
Lessee Lease Description [Line Items]
Finance lease, remaining term	77 years
Operating lease, renewal term	10 years

Leases - Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating Lease Right-of-Use Assets, Net	$ 124,727	$ 121,527
Property and Equipment, Net	3,914
Total lease assets	128,641
Operating lease liabilities, current portion	29,080	26,208
Current portion of finance liabilities, long-term debt and non-recourse debt	2,041
Operating Lease Liabilities	101,375	97,291
Finance Lease Liabilities	2,988	$ 2,954
Total lease liabilities	$ 135,484

Leases - Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
Leases - Lease Cost (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Leases [Abstract]
Operating lease cost	$ 39,506
Amortization of right-of-use assets	1,225	$ 1,000	$ 1,000
Interest on lease liabilities	352
Total finance lease cost	1,577
Short-term lease cost	3,293
Total lease cost	44,376
Operating cash flows for operating leases	38,847
Operating cash flows for finance leases	276
Financing activities for finance leases	1,918
Right-of-use assets obtained in exchange for new operating lease liabilities	23,940	$ 12,223
Right-of-use assets obtained in exchange for new finance lease liabilities	$ 2,260
Operating leases	6 years 9 months 18 days
Finance leases	2 years 10 months 24 days
Operating leases	4.65%
Finance leases	6.47%

Leases - Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Operating Leases
2021	$ 36,219
2022	27,388
2023	22,588
2024	19,235
2025	11,130
Thereafter	37,287
Total minimum lease payments	153,847
Less: amount of lease payment representing interest	(23,392)
Present value of future minimum lease payments	130,455
Present value of future minimum lease payments	130,455
Less: current obligations under leases	(29,080)	$ (26,208)
Operating Lease Liabilities	101,375	97,291
Finance Leases
2021	2,433
2022	1,729
2023	497
2024	497
2025	274
Total minimum lease payments	5,430
Less: amount of lease payment representing interest	(401)
Finance Lease Obligations	5,029	4,570
Present value of future minimum lease payments	5,029	4,570
Less: current obligations under leases	(2,041)
Finance Lease Obligations	$ 2,988	$ 2,954

Benefit Plans - Additional Information (Details)	12 Months Ended
Benefit Plans - Additional Information (Details)	Dec. 31, 2020 USD ($) Plan shares	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Compensation And Retirement Disclosure [Abstract]
Employer discretionary contribution amount	$ 8,300,000	$ 5,300,000	$ 5,900,000
Number of non-contributory defined benefit pension plans \| Plan	2
Period of average compensation for pension benefit computation	5 years
Deferred compensation arrangement with Individual, recorded liability	$ 8,900,000
Deferred compensation arrangement with individual, value of shares issued	$ 8,925,065
Deferred compensation arrangement with individual, shares issued \| shares	553,665
Long-term portion of the pension liability	$ 33,200,000	37,200,000
AOCI net prior service cost	10,900,000
Future amortization of prior service cost	$ 800,000
Retirement age	65 years
Rabbi trust balance	$ 35,700,000
Expense related to contributions	100,000	100,000	$ 100,000
Total deferred compensation liability	36,900,000	29,500,000
Deferred compensation liability, current	$ 2,000,000.0	$ 1,500,000

Benefit Plans - Components of Company Plan Benefit Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Compensation And Retirement Disclosure [Abstract]
Accumulated Benefit Obligation, End of Year	$ 25,229	$ 30,139
Change in Projected Benefit Obligation
Projected Benefit Obligation, Beginning of Year	37,551	32,474
Service Cost	1,254	998
Interest Cost	1,306	1,393
Other reclassification [1]	(8,925)
Actuarial (Gain) Loss	3,180	3,449
Benefits Paid	(836)	(763)
Projected Benefit Obligation, End of Year	33,530	37,551
Change in Plan Assets
Company Contributions	836	763
Unfunded Status of the Plan	(33,530)	(37,551)
Amounts Recognized in Accumulated Other Comprehensive Income
Net Loss	10,925	8,285
Total Pension Cost	$ 10,925	$ 8,285

Benefit Plans - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Components of Net Periodic Benefit Cost
Service Cost	$ 1,254	$ 998
Interest Cost	1,306	1,393
Net Loss	(540)	(210)
Net Periodic Pension Cost	$ 3,100	$ 2,601
Weighted Average Assumptions for Expense
Discount Rate	2.80%	3.40%
Rate of Compensation Increase	4.40%	4.40%

Benefit Plans - Benefit Payments Representing the Company's Obligations to Employees (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Compensation And Retirement Disclosure [Abstract]
2021	$ 921
2022	913
2023	904
2024	994
2025	1,062
Thereafter	28,736
Total benefit payments	$ 33,530	$ 37,551	$ 32,474

Business Segments and Geographic Information - Additional Information (Details)	12 Months Ended
	Dec. 31, 2020 USD ($) facility	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Schedule Of Equity Method Investments [Line Items]
Number of reportable business segments	4
Number of managed correctional facilities in Australia \| facility	4
Equity in earnings (losses) of affiliates, net of income tax provision	$ 9,166,000	$ 9,532,000	$ 9,627,000
SACS
Schedule Of Equity Method Investments [Line Items]
Equity in earnings (losses) of affiliates, net of income tax provision	3,700,000	5,000,000.0	7,400,000
Investment in joint venture	11,100,000	12,300,000
Dividend distributions received	5,900,000	6,300,000
GEO Amey
Schedule Of Equity Method Investments [Line Items]
Equity in earnings (losses) of affiliates, net of income tax provision	5,500,000	4,600,000	$ 2,200,000
Dividend distributions received	4,000,000.0	4,000,000.0
Advances to affiliate	$ 11,800,000	$ 5,700,000

Business Segments and Geographic Information - Schedule of Operating and Reporting Segments (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues:
Total Revenues	$ 578,116	$ 579,136	$ 587,829	$ 605,017	$ 621,710	$ 631,579	$ 613,966	$ 610,667	$ 2,350,098	$ 2,477,922	$ 2,331,386
Depreciation and amortization:
Depreciation and Amortization									134,680	130,825	126,434
Operating Income:
Operating income from segments									415,946	486,339	449,180
General and Administrative Expenses									(193,372)	(185,926)	(184,515)
Operating Income	$ 38,013	$ 64,462	$ 63,513	$ 56,586	$ 66,302	$ 78,159	$ 81,175	$ 74,777	222,574	300,413	264,665
U.S. Secure Services
Revenues:
Total Revenues									1,571,216	1,601,679	1,492,973
GEO Care
Revenues:
Total Revenues									551,342	614,249	580,313
International Services
Revenues:
Total Revenues									211,621	232,016	253,874
Facility Construction and Design
Revenues:
Total Revenues									15,919	29,978	4,226
Operating Segments
Revenues:
Total Revenues									2,350,098	2,477,922	2,331,386
Capital Expenditures									104,465	115,542	195,666
Operating Income:
Operating income from segments									415,946	486,339	449,180
Operating Segments \| U.S. Secure Services
Revenues:
Total Revenues									1,571,216	1,601,679	1,492,973
Capital Expenditures									58,410	69,074	163,208
Operating Income:
Operating income from segments									298,952	322,506	297,453
Operating Segments \| GEO Care
Revenues:
Total Revenues									551,342	614,249	580,313
Capital Expenditures									44,913	45,000	30,136
Operating Income:
Operating income from segments									97,330	147,036	138,911
Operating Segments \| International Services
Revenues:
Total Revenues									211,621	232,016	253,874
Capital Expenditures									1,142	1,468	2,322
Operating Income:
Operating income from segments									19,610	16,723	12,816
Operating Segments \| Facility Construction and Design
Revenues:
Total Revenues									15,919	29,978	4,226
Operating Income:
Operating income from segments									54	74
Segment Reconciling Items
Depreciation and amortization:
Depreciation and Amortization									134,680	130,825	126,434
Operating Income:
General and Administrative Expenses									(193,372)	(185,926)	(184,515)
Segment Reconciling Items \| U.S. Secure Services
Depreciation and amortization:
Depreciation and Amortization									80,702	78,974	76,801
Segment Reconciling Items \| GEO Care
Depreciation and amortization:
Depreciation and Amortization									51,832	49,781	47,546
Segment Reconciling Items \| International Services
Depreciation and amortization:
Depreciation and Amortization									$ 2,146	$ 2,070	$ 2,087

Business Segments and Geographic Information - Schedule of Pre-Tax Income Reconciliation of Segments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Pre-Tax Income Reconciliation of Segments
Operating income from segments	$ 415,946	$ 486,339	$ 449,180
Unallocated amounts:
General and Administrative Expenses	(193,372)	(185,926)	(184,515)
Net interest expense	(103,765)	(122,090)	(115,348)
Gain (Loss) on Extinguishment of Debt	5,319	(4,795)
Income Before Income Taxes and Equity in Earnings of Affiliates	124,128	173,528	149,317
Assets	4,460,126	4,317,534
Operating Segments
Pre-Tax Income Reconciliation of Segments
Operating income from segments	415,946	486,339	449,180
Unallocated amounts:
Assets	4,075,920	4,185,452	4,122,830
U.S. Secure Services \| Operating Segments
Pre-Tax Income Reconciliation of Segments
Operating income from segments	298,952	322,506	297,453
Unallocated amounts:
Assets	2,529,375	2,618,629	2,590,722
GEO Care \| Operating Segments
Pre-Tax Income Reconciliation of Segments
Operating income from segments	97,330	147,036	138,911
Unallocated amounts:
Assets	1,058,505	1,112,880	1,063,484
International Services \| Operating Segments
Pre-Tax Income Reconciliation of Segments
Operating income from segments	19,610	16,723	12,816
Unallocated amounts:
Assets	85,110	82,097	84,911
Facility Construction and Design \| Operating Segments
Pre-Tax Income Reconciliation of Segments
Operating income from segments	54	74
Unallocated amounts:
Assets	$ 402,930	$ 371,846	$ 383,713

Business Segments and Geographic Information - Asset Reconciliation (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Asset Reconciling Item [Line Items]
Total segment assets	$ 4,460,126	$ 4,317,534
Cash	283,524	32,463	$ 31,255
Deferred income tax assets	102,828	110,068
Operating Segments
Segment Reporting Asset Reconciling Item [Line Items]
Total segment assets	4,075,920	4,185,452	$ 4,122,830
Segment Reconciling Items
Segment Reporting Asset Reconciling Item [Line Items]
Cash	283,524	32,463
Deferred income tax assets	36,604	36,278
Restricted cash and investments, current and non-current	$ 64,078	$ 63,341

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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Business Segments and Geographic Information - Geographic Information (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Geographical Information
Total Revenues	$ 578,116	$ 579,136	$ 587,829	$ 605,017	$ 621,710	$ 631,579	$ 613,966	$ 610,667	$ 2,350,098	$ 2,477,922	$ 2,331,386
Property and Equipment, Net	2,122,195				2,144,722				2,122,195	2,144,722	2,158,610
U.S. operations
Geographical Information
Total Revenues									2,123,045	2,216,401	2,073,286
Property and Equipment, Net	2,109,070				2,131,877				2,109,070	2,131,877	2,145,197
Australia operations
Geographical Information
Total Revenues									201,932	235,462	231,164
Property and Equipment, Net	12,908				12,215				12,908	12,215	13,006
South African operations
Geographical Information
Total Revenues									17,044	18,779	19,806
Property and Equipment, Net	127				182				127	182	88
United Kingdom operations
Geographical Information
Total Revenues									8,077	7,280	7,130
Property and Equipment, Net	$ 90				$ 448				$ 90	$ 448	$ 319

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

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Business Segments and Geographic Information - Sources of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues:
Total Revenues	$ 578,116	$ 579,136	$ 587,829	$ 605,017	$ 621,710	$ 631,579	$ 613,966	$ 610,667	$ 2,350,098	$ 2,477,922	$ 2,331,386
GEO Secure Services
Revenues:
Total Revenues									1,782,837	1,833,695	1,746,847
GEO Care
Revenues:
Total Revenues									551,342	614,249	580,313
Facility Construction and Design
Revenues:
Total Revenues									$ 15,919	$ 29,978	$ 4,226

Business Segments and Geographic Information - Customer Concentration Risk (Details) - Customer Concentration Risk - Revenue Benchmark	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Entity Wide Revenue Major Customer [Line Items]
Percentage of revenue	10.00%
Various agencies of the U.S Federal Government
Entity Wide Revenue Major Customer [Line Items]
Percentage of revenue	56.00%	53.00%	50.00%

Income Taxes - Income (loss) Before Income Taxes and Equity Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income before income taxes and equity in earnings in affiliates
United States	$ 96,428	$ 155,844	$ 131,261
Foreign	27,700	17,684	18,056
Income Before Income Taxes and Equity in Earnings of Affiliates	$ 124,128	$ 173,528	$ 149,317

Income Taxes - Schedule of Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Federal income taxes:
Current	$ 8,259	$ 13,018	$ 9,340
Deferred	(255)	(7,028)	(2,195)
Federal income tax expense (benefit), continuing operations, total	8,004	5,990	7,145
State income taxes:
Current	4,146	5,093	3,050
Deferred	47	(383)	(1,889)
State and local income tax expense (benefit), continuing operations, total	4,193	4,710	1,161
Foreign income taxes:
Current	(3,163)	(875)	497
Deferred	11,429	6,823	5,314
Foreign income tax expense (benefit), continuing operations, total	8,266	5,948	5,811
Total U.S. and foreign provision for income taxes	$ 20,463	$ 16,648	$ 14,117

Income Taxes - Schedule of Reconciliation of Statutory Rate to Effective Tax Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Provisions using statutory federal income tax rate	$ 26,067	$ 36,476	$ 31,340
State income taxes, net of federal tax benefit	3,099	2,421	1,915
REIT benefit	(12,271)	(22,395)	(19,992)
Change in valuation allowance	(1,775)	1,456	(1,245)
Federal tax credits	(2,015)	(2,118)	(1,904)
Tax Cut and Jobs Act impact			(301)
Foreign income taxes	1,373	1,934	1,479
Tax impact of vested equity compensation	3,628	185	949
Other, net	2,357	(1,311)	1,876
Total U.S. and foreign provision for income taxes	$ 20,463	$ 16,648	$ 14,117

Income Taxes - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating Loss Carryforwards [Line Items]
U.S federal income tax rate	21.00%
State income taxes (benefit), net of federal tax benefit	$ 3,099,000	$ 2,421,000	$ 1,915,000
State income taxes (benefit), net of federal tax benefit (impact of REIT election), net of valuation allowance	2,100,000	4,100,000	$ 1,300,000
Valuation allowance	21,012,000	22,786,000
Decrease in valuation allowance	(1,800,000)
Accumulated undistributed earnings	8,900,000
Deferred tax liability, undistributed foreign earnings	400,000
Foreign operating losses carry forward	26,700,000
State tax credits	3,600,000
Deferred tax asset net of valuation allowance	3,400,000
Unrecognized tax benefits, net	5,500,000
Decrease in unrecognized tax benefits	900,000
Recognized tax benefits that will reduce company's tax rate	5,500,000
Recognized interest and penalties	$ 0	$ 0
Tax Year 2017 \| Internal Revenue Service (IRS)
Operating Loss Carryforwards [Line Items]
Open tax year	2017
Domestic Country
Operating Loss Carryforwards [Line Items]
Federal net operating loss carryforwards	$ 38,200,000
State And Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Federal net operating loss carryforwards	$ 207,300,000
Foreign Country \| Earliest Tax Period
Operating Loss Carryforwards [Line Items]
Open tax year	2015
Foreign Country \| Latest Tax period
Operating Loss Carryforwards [Line Items]
Open tax year	2018

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Deferred Income Tax Assets	$ 36,604	$ 36,278
Deferred tax liabilities - non-current	(30,726)	(19,254)
Total net deferred tax assets	5,878	17,024
Deferred tax assets:
Net operating losses	25,260	32,394
Accrued liabilities	30,605	24,452
Deferred compensation	18,906	15,052
Accrued compensation	7,888	7,239
Deferred revenue	15,210	13,219
Tax credits	3,834	5,223
Equity awards	3,402	4,894
Depreciation	3,069	15,424
Operating lease liability	14,889	13,140
Other, net	777	1,817
Valuation allowance	(21,012)	(22,786)
Total deferred tax assets	102,828	110,068
Deferred tax liabilities:
Intangible assets	(21,885)	(24,097)
Capitalized transaction costs	(16,165)	(16,797)
Accounting method change	(4,667)	(7,019)
Prepaid expenses and other	(39,925)	(32,493)
Lease right-of-use assets	(14,308)	(12,638)
Total deferred tax liabilities	$ (96,950)	$ (93,044)

Income Taxes - Schedule of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Balance at Beginning of Period	$ 5,469	$ 4,584	$ 4,461
Additions based on tax positions related to the current year	44
Additions for tax positions of prior years	166	994	298
Reductions as a result of a lapse of applicable statutes of limitations	(56)	(109)	(175)
Balance at End of Period	$ 5,623	$ 5,469	$ 4,584

Commitments and Contingencies - Additional Information (Details) $ in Millions						3 Months Ended	12 Months Ended
	Jan. 20, 2021 bed	Nov. 23, 2020 bed	Jun. 19, 2020 bed	Mar. 24, 2020 bed	Sep. 09, 2017 Claim	Dec. 31, 2020 USD ($) Installment	Dec. 31, 2020 USD ($) Installment
Commitments And Contingencies [Line Items]
Life term of contract				5 years
Contract effective date							Apr. 01, 2020
Estimated construction existing active capital projects cost							$ 54.5
Cost already spent on existing active capital projects							35.0
Remaining capital required for existing active capital projects							19.5
Estimate of possible loss							$ 19.8
Number of deferred payment installment related to payroll taxes \| Installment						2	2
Deferred payment related to payroll taxes amount						$ 42.0	$ 42.0
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
Bureau Of Prisons B O P
Commitments And Contingencies [Line Items]
Life term of contract			4 years
Number of beds in detention facility \| bed			1,900
Renewal term			2 years
Extension of contract term						4 months
Extension of contract expired date						Jan. 31, 2021
South Texas ICE Processing Center
Commitments And Contingencies [Line Items]
Life term of contract				10 years
Contract effective date							Aug. 06, 2020
Number of beds in detention facility \| bed				1,904
Rivers Correctional Facility \| Bureau Of Prisons B O P \| North Carolina
Commitments And Contingencies [Line Items]
Number of beds in detention facility \| bed		1,450
Expiration date		Mar. 31, 2021
Moshannon Valley Correctional Facility \| Bureau Of Prisons B O P \| Pennsylvania \| Subsequent Event
Commitments And Contingencies [Line Items]
Number of beds in detention facility \| bed	1,878
Expiration date	Mar. 31, 2021
Workforce Subject to Collective Bargaining Arrangements
Commitments And Contingencies [Line Items]
Concentration risk, percentage							36.00%
Workforce Subject to Collective Bargaining Arrangements Expiring within One Year
Commitments And Contingencies [Line Items]
Concentration risk, percentage							16.00%

Selected Quarterly Financial Data (Unaudited) (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2020

Sep. 30, 2020

Jun. 30, 2020

Mar. 31, 2020

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2019

Mar. 31, 2019

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Quarterly Financial Data [Abstract]

Revenues

$ 578,116

$ 579,136

$ 587,829

$ 605,017

$ 621,710

$ 631,579

$ 613,966

$ 610,667

$ 2,350,098

$ 2,477,922

$ 2,331,386

Operating Income

38,013

64,462

63,513

56,586

66,302

78,159

81,175

74,777

222,574

300,413

264,665

Net income attributable to The GEO Group, Inc.

11,884

39,172

36,654

25,121

38,042

45,885

41,836

40,649

112,831

166,412

144,827

$ 11,911

$ 39,220

$ 36,720

$ 25,181

$ 38,052

$ 45,932

$ 41,914

$ 40,705

$ 113,032

$ 166,603

$ 145,089

Basic earnings per share:

Net income per share

$ 0.09

$ 0.33

$ 0.31

$ 0.21

$ 0.32

$ 0.39

$ 0.35

$ 0.34

$ 0.94

$ 1.40

$ 1.21

Diluted earnings per share:

Net income per share

$ 0.09

^[1]

$ 0.33

^[1]

$ 0.31

^[1]

$ 0.21

^[1]

$ 0.32

^[1]

$ 0.39

^[1]

$ 0.35

^[1]

$ 0.34

^[1]

$ 0.94

$ 1.40

$ 1.20

[1]	Earnings per share table may contain slight summation differences due to rounding.

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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