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Condensed Consolidating Financial Information (Tables) | 6 Months Ended
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Jul. 01, 2012
Condensed Consolidating Financial Information Disclosure [Abstract] |
CONDENSED CONSOLIDATING BALANCE SHEET |
| As of July 1, 2012
| The GEO Group, Inc. |  | Combined Subsidiary Guarantors |  | Combined Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
| (Dollars in thousands)
ASSETS
Cash and cash equivalents | 43,081 |  |  | $ | 4,550 |  |  | $ | 20,907 |  |  | $ | — |  |  | $ | 68,538 |
Restricted cash and investments | — |  |  | 1,350 |  |  | 38,721 |  |  | — |  |  | 40,071 |
Accounts receivable, less allowance for doubtful accounts | 122,746 |  |  | 138,653 |  |  | 23,032 |  |  | — |  |  | 284,431 |
Deferred income tax assets, net | 13,891 |  |  | 11,047 |  |  | 3,788 |  |  | — |  |  | 28,726 |
Prepaid expenses and other current assets | 6,878 |  |  | 7,094 |  |  | 10,565 |  |  | (1,154 | ) |  | 23,383 |
Current assets of discontinued operations | 4,740 |  |  | 1,973 |  |  | — |  |  | — |  |  | 6,713 |
Total current assets | 191,336 |  |  | 164,667 |  |  | 97,013 |  |  | (1,154 | ) |  | 451,862 |
Restricted Cash and Investments | 8,941 |  |  | — |  |  | 51,129 |  |  | — |  |  | 60,070 |
Property and Equipment, Net | 638,967 |  |  | 830,739 |  |  | 248,686 |  |  | — |  |  | 1,718,392 |
Assets Held for Sale | 3,083 |  |  | 2,307 |  |  | — |  |  | — |  |  | 5,390 |
Direct Finance Lease Receivable | — |  |  | — |  |  | 29,253 |  |  | — |  |  | 29,253 |
Intercompany Receivable | 378,861 |  |  | 14,380 |  |  | 12,708 |  |  | (405,949 | ) |  | — |
Deferred Income Tax Assets, Net | — |  |  | — |  |  | 1,711 |  |  | — |  |  | 1,711 |
Goodwill | 34 |  |  | 507,272 |  |  | 762 |  |  | — |  |  | 508,068 |
Intangible Assets, Net | — |  |  | 188,957 |  |  | 1,786 |  |  | — |  |  | 190,743 |
Investment in Subsidiaries | 1,317,002 |  |  | 16,615 |  |  | — |  |  | (1,333,617 | ) |  | — |
Other Non-Current Assets | 38,680 |  |  | 81,700 |  |  | 37,104 |  |  | (74,321 | ) |  | 83,163 |
Non-Current Assets of Discontinued Operations | $ | 541 |  |  | $ | 35 |  |  | $ | — |  |  | $ | — |  |  | $ | 576 |
Total Assets | $ | 2,577,445 |  |  | $ | 1,806,672 |  |  | $ | 480,152 |  |  | $ | (1,815,041 | ) |  | $ | 3,049,228 |
LIABILITIES AND SHAREHOLDERS’ EQUITY
Accounts payable | $ | 27,396 |  |  | $ | 33,154 |  |  | $ | 3,131 |  |  | $ | — |  |  | $ | 63,681 |
Accrued payroll and related taxes | 2,829 |  |  | 16,911 |  |  | 17,469 |  |  | — |  |  | 37,209 |
Accrued expenses | 73,968 |  |  | 21,626 |  |  | 27,164 |  |  | (1,154 | ) |  | 121,604 |
Current portion of capital lease obligations, long-term debt and non-recourse debt | 24,606 |  |  | 1,424 |  |  | 33,728 |  |  | — |  |  | 59,758 |
Current liabilities of discontinued operations | 546 |  |  | 156 |  |  | — |  |  | — |  |  | 702 |
Total current liabilities | 129,345 |  |  | 73,271 |  |  | 81,492 |  |  | (1,154 | ) |  | 282,954 |
Deferred Income Tax Liabilities | 42,879 |  |  | 82,296 |  |  | 34 |  |  | — |  |  | 125,209 |
Intercompany Payable | 12,708 |  |  | 375,695 |  |  | 17,546 |  |  | (405,949 | ) |  | — |
Other Non-Current Liabilities | 31,692 |  |  | 26,798 |  |  | 74,769 |  |  | (74,321 | ) |  | 58,938 |
Capital Lease Obligations | — |  |  | 12,456 |  |  | — |  |  | — |  |  | 12,456 |
Long-Term Debt | 1,297,724 |  |  | 306 |  |  | — |  |  | — |  |  | 1,298,030 |
Non-Recourse Debt | — |  |  | — |  |  | 198,995 |  |  | — |  |  | 198,995 |
Commitments & Contingencies |  |  |  |  |  |  |  |  |
Shareholders' Equity: |  |  |  |  |  |  |  |  |
The GEO Group, Inc. Shareholders' Equity | 1,063,097 |  |  | 1,226,841 |  |  | 106,776 |  |  | (1,333,617 | ) |  | 1,063,097 |
Noncontrolling Interests | — |  |  | 9,009 |  |  | 540 |  |  | — |  |  | 9,549 |
Total Shareholders’ Equity | 1,063,097 |  |  | 1,235,850 |  |  | 107,316 |  |  | (1,333,617 | ) |  | 1,072,646 |
Total Liabilities and Shareholders' Equity | $ | 2,577,445 |  |  | $ | 1,806,672 |  |  | $ | 480,152 |  |  | $ | (1,815,041 | ) |  | $ | 3,049,228 |
CONDENSED CONSOLIDATING BALANCE SHEET (dollars in thousands) (unaudited)
| As of January 1, 2012
| The GEO Group, Inc. |  | Combined Subsidiary Guarantors |  | Combined Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
| (Dollars in thousands)
ASSETS
Cash and cash equivalents | $ | 15,085 |  |  | $ | 3,155 |  |  | $ | 26,513 |  |  | $ | — |  |  | $ | 44,753 |
Restricted cash and investments | — |  |  | — |  |  | 42,535 |  |  | — |  |  | 42,535 |
Accounts receivable, less allowance for doubtful accounts | 123,426 |  |  | 139,574 |  |  | 22,810 |  |  | — |  |  | 285,810 |
Deferred income tax assets, net | 14,063 |  |  | 10,875 |  |  | 3,788 |  |  | — |  |  | 28,726 |
Prepaid expenses and other current assets | 17,170 |  |  | 23,791 |  |  | 10,539 |  |  | (1,154 | ) |  | 50,346 |
Current assets of discontinued operations | 5,021 |  |  | 2,138 |  |  | — |  |  | — |  |  | 7,159 |
Total current assets | 174,765 |  |  | 179,533 |  |  | 106,185 |  |  | (1,154 | ) |  | 459,329 |
Restricted Cash and Investments | 8,016 |  |  | — |  |  | 49,896 |  |  | — |  |  | 57,912 |
Property and Equipment, Net | 620,124 |  |  | 834,345 |  |  | 250,837 |  |  | — |  |  | 1,705,306 |
Assets Held for Sale | 3,083 |  |  | 1,280 |  |  | — |  |  | — |  |  | 4,363 |
Direct Finance Lease Receivable | — |  |  | — |  |  | 32,146 |  |  | — |  |  | 32,146 |
Intercompany Receivable | 386,026 |  |  | 14,305 |  |  | 14,028 |  |  | (414,359 | ) |  | — |
Deferred Income Tax Assets, Net | — |  |  | — |  |  | 1,711 |  |  | — |  |  | 1,711 |
Goodwill | 34 |  |  | 507,272 |  |  | 760 |  |  | — |  |  | 508,066 |
Intangible Assets, Net | — |  |  | 198,477 |  |  | 1,865 |  |  | — |  |  | 200,342 |
Investment in Subsidiaries | 1,333,885 |  |  | 9,784 |  |  | — |  |  | (1,343,669 | ) |  | — |
Other Non-Current Assets | 40,695 |  |  | 73,480 |  |  | 31,022 |  |  | (65,621 | ) |  | 79,576 |
Non-Current Assets of Discontinued Operations | $ | 697 |  |  | $ | 168 |  |  | $ | — |  |  | $ | — |  |  | $ | 865 |
Total Assets | $ | 2,567,325 |  |  | $ | 1,818,644 |  |  | $ | 488,450 |  |  | $ | (1,824,803 | ) |  | $ | 3,049,616 |
LIABILITIES AND SHAREHOLDERS’ EQUITY
Accounts payable | $ | 47,159 |  |  | $ | 18,531 |  |  | $ | 3,942 |  |  | $ | — |  |  | $ | 69,632 |
Accrued payroll and related taxes | 2,855 |  |  | 18,273 |  |  | 17,002 |  |  | — |  |  | 38,130 |
Accrued expenses | 69,585 |  |  | 33,500 |  |  | 24,751 |  |  | (1,154 | ) |  | 126,682 |
Current portion of capital lease obligations, long-term debt and non-recourse debt | 19,037 |  |  | 1,363 |  |  | 33,266 |  |  | — |  |  | 53,666 |
Current liabilities of discontinued operations | 542 |  |  | 166 |  |  | — |  |  | — |  |  | 708 |
Total current liabilities | 139,178 |  |  | 71,833 |  |  | 78,961 |  |  | (1,154 | ) |  | 288,818 |
Deferred Income Tax Liabilities | 42,879 |  |  | 82,296 |  |  | 34 |  |  | — |  |  | 125,209 |
Intercompany Payable | 14,027 |  |  | 378,005 |  |  | 22,327 |  |  | (414,359 | ) |  | — |
Other Non-Current Liabilities | 29,384 |  |  | 28,654 |  |  | 63,964 |  |  | (65,621 | ) |  | 56,381 |
Capital Lease Obligations | — |  |  | 13,087 |  |  | — |  |  | — |  |  | 13,087 |
Long-Term Debt | 1,318,639 |  |  | 429 |  |  | — |  |  | — |  |  | 1,319,068 |
Non-Recourse Debt | — |  |  | — |  |  | 208,532 |  |  | — |  |  | 208,532 |
Commitments & Contingencies |  |  |  |  |  |  |  |  |
Shareholders' Equity: |  |  |  |  |  |  |  |  |  |  |  |  |  |
The GEO Group, Inc. Shareholders' Equity | 1,023,218 |  |  | 1,229,553 |  |  | 114,116 |  |  | (1,343,669 | ) |  | 1,023,218 |
Noncontrolling Interests | — |  |  | 14,787 |  |  | 516 |  |  | — |  |  | 15,303 |
Total Shareholders’ Equity | 1,023,218 |  |  | 1,244,340 |  |  | 114,632 |  |  | (1,343,669 | ) |  | 1,038,521 |
Total Liabilities and Shareholders' Equity | $ | 2,567,325 |  |  | $ | 1,818,644 |  |  | $ | 488,450 |  |  | $ | (1,824,803 | ) |  | $ | 3,049,616 |
CONDENSED CONSOLIDATING STATEMENTS OF INCOME |
| For the Thirteen Weeks Ended July 1, 2012
| The GEO Group, Inc. |  | Combined Subsidiary Guarantors |  | Combined Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues | $ | 153,754 |  |  | $ | 217,573 |  |  | $ | 61,400 |  |  | $ | (20,379 | ) |  | $ | 412,348 |
Operating expenses | 130,229 |  |  | 145,784 |  |  | 49,401 |  |  | (20,379 | ) |  | 305,035 |
Depreciation and amortization | 7,390 |  |  | 14,255 |  |  | 2,162 |  |  | — |  |  | 23,807 |
General and administrative expenses | 9,609 |  |  | 13,597 |  |  | 3,837 |  |  | — |  |  | 27,043 |
Operating income | 6,526 |  |  | 43,937 |  |  | 6,000 |  |  | — |  |  | 56,463 |
Interest income | 7,848 |  |  | 393 |  |  | 1,661 |  |  | (8,141 | ) |  | 1,761 |
Interest expense | (16,836 | ) |  | (7,926 | ) |  | (3,996 | ) |  | 8,141 |  |  | (20,617 | )
Income (loss) before income taxes and equity in earnings of affiliates | (2,462 | ) |  | 36,404 |  |  | 3,665 |  |  | — |  |  | 37,607 |
Provision (benefit) for income taxes | (663 | ) |  | 14,089 |  |  | 1,565 |  |  | — |  |  | 14,991 |
Equity in earnings of affiliates, net of income tax provision | — |  |  | — |  |  | 430 |  |  | — |  |  | 430 |
Income (loss) from continuing operations before equity in income of consolidated subsidiaries | (1,799 | ) |  | 22,315 |  |  | 2,530 |  |  | — |  |  | 23,046 |
Income from consolidated subsidiaries, net of income tax provision | 24,845 |  |  | — |  |  | — |  |  | (24,845 | ) |  | — |
Income from continuing operations | 23,046 |  |  | 22,315 |  |  | 2,530 |  |  | (24,845 | ) |  | 23,046 |
Net income (loss) from discontinued operations | (570 | ) |  | 85 |  |  | — |  |  | (85 | ) |  | (570 | )
Net income | 22,476 |  |  | 22,400 |  |  | 2,530 |  |  | (24,930 | ) |  | 22,476 |
Net loss attributable to noncontrolling interests | — |  |  | — |  |  | 25 |  |  | — |  |  | 25 |
Net income attributable to The GEO Group, Inc. | $ | 22,476 |  |  | $ | 22,400 |  |  | $ | 2,555 |  |  | $ | (24,930 | ) |  | $ | 22,501 |
Net income | $ | 22,476 |  |  | $ | 22,400 |  |  | $ | 2,530 |  |  | $ | (24,930 | ) |  | $ | 22,476 |
Other comprehensive income (loss), net of tax | $ | 29 |  |  | $ | — |  |  | $ | (2,498 | ) |  | $ | — |  |  | $ | (2,469 | )
Comprehensive income | $ | 22,505 |  |  | $ | 22,400 |  |  | $ | 32 |  |  | $ | (24,930 | ) |  | $ | 20,007 |
Comprehensive loss attributable to noncontrolling interests | $ | — |  |  |  |  |  | $ | 58 |  |  | $ | — |  |  | $ | 58 |
Comprehensive income attributable to The GEO Group, Inc. | $ | 22,505 |  |  | $ | 22,400 |  |  | $ | 90 |  |  | $ | (24,930 | ) |  | $ | 20,065 |
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (dollars in thousands) (unaudited)
| For the Thirteen Weeks Ended July 3, 2011
| The GEO Group, Inc. |  | Combined Subsidiary Guarantors |  | Combined Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues | $ | 138,571 |  |  | $ | 220,016 |  |  | $ | 57,514 |  |  | $ | (19,297 | ) |  | $ | 396,804 |
Operating expenses | 126,590 |  |  | 145,399 |  |  | 46,544 |  |  | (19,297 | ) |  | 299,236 |
Depreciation and amortization | 4,668 |  |  | 14,401 |  |  | 1,876 |  |  | — |  |  | 20,945 |
General and administrative expenses | 9,520 |  |  | 14,459 |  |  | 3,731 |  |  | — |  |  | 27,710 |
Operating income (loss) | (2,207 | ) |  | 45,757 |  |  | 5,363 |  |  | — |  |  | 48,913 |
Interest income | 7,767 |  |  | 413 |  |  | 1,562 |  |  | (8,113 | ) |  | 1,629 |
Interest expense | (15,886 | ) |  | (7,983 | ) |  | (3,656 | ) |  | 8,113 |  |  | (19,412 | )
Income (loss) before income taxes and equity in earnings of affiliates | (10,326 | ) |  | 38,187 |  |  | 3,269 |  |  | — |  |  | 31,130 |
Provision (benefit) for income taxes | (3,902 | ) |  | 14,756 |  |  | 1,448 |  |  | — |  |  | 12,302 |
Equity in earnings of affiliates, net of income tax provision | — |  |  | — |  |  | 1,418 |  |  | — |  |  | 1,418 |
Income (loss) from continuing operations before equity in income of consolidated subsidiaries | (6,424 | ) |  | 23,431 |  |  | 3,239 |  |  | — |  |  | 20,246 |
Income from consolidated subsidiaries, net of income tax provision | 26,670 |  |  | — |  |  | — |  |  | (26,670 | ) |  | — |
Income from continuing operations | 20,246 |  |  | 23,431 |  |  | 3,239 |  |  | (26,670 | ) |  | 20,246 |
Net income from discontinued operations | 917 |  |  | 236 |  |  | — |  |  | (236 | ) |  | 917 |
Net income | 21,163 |  |  | 23,667 |  |  | 3,239 |  |  | (26,906 | ) |  | 21,163 |
Net loss attributable to noncontrolling interests | — |  |  | 1 |  |  | 414 |  |  | — |  |  | 415 |
Net income attributable to The GEO Group, Inc. | $ | 21,163 |  |  | $ | 23,668 |  |  | $ | 3,653 |  |  | $ | (26,906 | ) |  | $ | 21,578 |
Net income | $ | 21,163 |  |  | $ | 23,667 |  |  | $ | 3,239 |  |  | $ | (26,906 | ) |  | $ | 21,163 |
Other comprehensive income, net of tax | 10 |  |  | — |  |  | 489 |  |  | — |  |  | $ | 499 |
Comprehensive income | $ | 21,173 |  |  | $ | 23,667 |  |  | $ | 3,728 |  |  | $ | (26,906 | ) |  | $ | 21,662 |
Comprehensive loss attributable to noncontrolling interests | — |  |  | 1 |  |  | 417 |  |  | — |  |  | 418 |
Comprehensive income attributable to The GEO Group, Inc. | $ | 21,173 |  |  | $ | 23,668 |  |  | $ | 4,145 |  |  | $ | (26,906 | ) |  | $ | 22,080 |
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (dollars in thousands) (unaudited)
| For the Twenty-six Weeks Ended July 1, 2012
| The GEO Group, Inc. |  | Combined Subsidiary Guarantors |  | Combined Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues | $ | 294,370 |  |  | $ | 436,476 |  |  | $ | 123,174 |  |  | $ | (40,415 | ) |  | $ | 813,605 |
Operating expenses | 261,460 |  |  | 294,875 |  |  | 97,375 |  |  | (40,415 | ) |  | 613,295 |
Depreciation and amortization | 14,244 |  |  | 28,318 |  |  | 4,320 |  |  | — |  |  | 46,882 |
General and administrative expenses | 18,780 |  |  | 27,846 |  |  | 7,858 |  |  | — |  |  | 54,484 |
Operating income | (114 | ) |  | 85,437 |  |  | 13,621 |  |  | — |  |  | 98,944 |
Interest income | 15,655 |  |  | 886 |  |  | 3,262 |  |  | (16,235 | ) |  | 3,568 |
Interest expense | (33,754 | ) |  | (15,837 | ) |  | (8,068 | ) |  | 16,235 |  |  | (41,424 | )
Income (loss) before income taxes and equity in earnings of affiliates | (18,213 | ) |  | 70,486 |  |  | 8,815 |  |  | — |  |  | 61,088 |
Provision (benefit) for income taxes | (6,323 | ) |  | 26,993 |  |  | 3,538 |  |  | — |  |  | 24,208 |
Equity in earnings of affiliates, net of income tax provision | — |  |  | — |  |  | 1,178 |  |  | — |  |  | 1,178 |
Income (loss) from continuing operations before equity in income of consolidated subsidiaries | (11,890 | ) |  | 43,493 |  |  | 6,455 |  |  | — |  |  | 38,058 |
Income from consolidated subsidiaries, net of income tax provision | 49,948 |  |  | — |  |  | — |  |  | (49,948 | ) |  | — |
Income from continuing operations | 38,058 |  |  | 43,493 |  |  | 6,455 |  |  | (49,948 | ) |  | 38,058 |
Net income (loss) from discontinued operations | (523 | ) |  | 223 |  |  | — |  |  | (223 | ) |  | (523 | )
Net income | 37,535 |  |  | 43,716 |  |  | 6,455 |  |  | (50,171 | ) |  | 37,535 |
Net income attributable to noncontrolling interests | — |  |  | — |  |  | (9 | ) |  | — |  |  | (9 | )
Net income attributable to The GEO Group, Inc. | $ | 37,535 |  |  | $ | 43,716 |  |  | $ | 6,446 |  |  | $ | (50,171 | ) |  | $ | 37,526 |
Net income | $ | 37,535 |  |  | $ | 43,716 |  |  | $ | 6,455 |  |  | $ | (50,171 | ) |  | $ | 37,535 |
Other comprehensive income (loss), net of tax | 59 |  |  | — |  |  | (541 | ) |  | — |  |  | (482 | )
Comprehensive income | $ | 37,594 |  |  | $ | 43,716 |  |  | $ | 5,914 |  |  | $ | (50,171 | ) |  | $ | 37,053 |
Comprehensive loss attributable to noncontrolling interests | — |  |  | — |  |  | (4 | ) |  | — |  |  | (4 | )
Comprehensive income attributable to The GEO Group, Inc. | $ | 37,594 |  |  | $ | 43,716 |  |  | $ | 5,910 |  |  | $ | (50,171 | ) |  | $ | 37,049 |
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (dollars in thousands) (unaudited)
| For the Twenty-six Weeks Ended July 3, 2011
| The GEO Group, Inc. |  | Combined Subsidiary Guarantors |  | Combined Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues | $ | 273,812 |  |  | $ | 427,970 |  |  | $ | 113,015 |  |  | $ | (37,649 | ) |  | $ | 777,148 |
Operating expenses | 251,024 |  |  | 286,276 |  |  | 88,606 |  |  | (37,649 | ) |  | 588,257 |
Depreciation and amortization | 8,855 |  |  | 27,059 |  |  | 3,732 |  |  | — |  |  | 39,646 |
General and administrative expenses | 20,964 |  |  | 31,367 |  |  | 8,167 |  |  | — |  |  | 60,498 |
Operating income (loss) | (7,031 | ) |  | 83,268 |  |  | 12,510 |  |  | — |  |  | 88,747 |
Interest income | 13,504 |  |  | 737 |  |  | 3,025 |  |  | (14,068 | ) |  | 3,198 |
Interest expense | (29,239 | ) |  | (13,922 | ) |  | (7,280 | ) |  | 14,068 |  |  | (36,373 | )
Income (loss) before income taxes and equity in earnings of affiliates | (22,766 | ) |  | 70,083 |  |  | 8,255 |  |  | — |  |  | 55,572 |
Provision (benefit) for income taxes | (8,709 | ) |  | 27,080 |  |  | 3,303 |  |  | — |  |  | 21,674 |
Equity in earnings of affiliates, net of income tax provision | — |  |  | — |  |  | 2,080 |  |  | — |  |  | 2,080 |
Income (loss) from continuing operations before equity in income of consolidated subsidiaries | (14,057 | ) |  | 43,003 |  |  | 7,032 |  |  | — |  |  | 35,978 |
Income from consolidated subsidiaries, net of income tax provision | 50,035 |  |  | — |  |  | — |  |  | (50,035 | ) |  | — |
Income from continuing operations | 35,978 |  |  | 43,003 |  |  | 7,032 |  |  | (50,035 | ) |  | 35,978 |
Net income from discontinued operations | 1,565 |  |  | 503 |  |  | — |  |  | (503 | ) |  | 1,565 |
Net income | 37,543 |  |  | 43,506 |  |  | 7,032 |  |  | (50,538 | ) |  | 37,543 |
Net loss attributable to noncontrolling interests | — |  |  | 2 |  |  | 823 |  |  | — |  |  | 825 |
Net income attributable to The GEO Group, Inc. | $ | 37,543 |  |  | $ | 43,508 |  |  | $ | 7,855 |  |  | $ | (50,538 | ) |  | $ | 38,368 |
Net income | $ | 37,543 |  |  | $ | 43,506 |  |  | $ | 7,032 |  |  | $ | (50,538 | ) |  | $ | 37,543 |
Other comprehensive income | 19 |  |  | — |  |  | 783 |  |  | — |  |  | 802 |
Comprehensive income | 37,562 |  |  | 43,506 |  |  | 7,815 |  |  | (50,538 | ) |  | 38,345 |
Comprehensive loss attributable to noncontrolling interests | — |  |  | 9 |  |  | 826 |  |  | — |  |  | 835 |
Comprehensive income attributable to The GEO Group, Inc. | $ | 37,562 |  |  | $ | 43,515 |  |  | $ | 8,641 |  |  | $ | (50,538 | ) |  | $ | 39,180 |
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS |
| For the Twenty-six Weeks Ended July 1, 2012
| The GEO Group, Inc. |  | Combined Subsidiary Guarantors |  | Combined Non-Guarantor Subsidiaries |  | Consolidated
Cash Flow from Operating Activities: |  |  |  |  |  |  |
Net cash provided by operating activities | $ | 98,491 |  |  | $ | 17,218 |  |  | $ | 10,104 |  |  | $ | 125,813 |
Cash Flow from Investing Activities: |  |  |  |  |  |  |
Proceeds from sale of property and equipment | — |  |  | 162 |  |  | 69 |  |  | 231 |
Proceeds from sale of assets held for sale | — |  |  | 297 |  |  | — |  |  | 297 |
Change in restricted cash and investments | — |  |  | — |  |  | 333 |  |  | 333 |
Capital expenditures | (54,024 | ) |  | (15,589 | ) |  | (2,240 | ) |  | (71,853 | )
Net cash (used in) provided by investing activities | (54,024 | ) |  | (15,130 | ) |  | (1,838 | ) |  | (70,992 | )
Cash Flow from Financing Activities: |  |  |  |  |  |  |
Payments on long-term debt | (160,556 | ) |  | (693 | ) |  | (8,033 | ) |  | (169,282 | )
Proceeds from long-term debt | 145,000 |  |  | — |  |  | — |  |  | 145,000 |
Distribution to noncontrolling interests | — |  |  | — |  |  | (5,758 | ) |  | (5,758 | )
Proceeds from the exercise of stock options | 396 |  |  | — |  |  | — |  |  | 396 |
Income tax provision of equity compensation | (270 | ) |  | — |  |  | — |  |  | (270 | )
Payments for retirement of common stock | (1,035 | ) |  | — |  |  | — |  |  | (1,035 | )
Debt issuance costs | (6 | ) |  | — |  |  | (38 | ) |  | (44 | )
Net cash used in financing activities | (16,471 | ) |  | (693 | ) |  | (13,829 | ) |  | (30,993 | )
Effect of Exchange Rate Changes on Cash and Cash Equivalents | — |  |  | — |  |  | (43 | ) |  | (43 | )
Net (Decrease) Increase in Cash and Cash Equivalents | 27,996 |  |  | 1,395 |  |  | (5,606 | ) |  | 23,785 |
Cash and Cash Equivalents, beginning of period | 15,085 |  |  | 3,155 |  |  | 26,513 |  |  | 44,753 |
Cash and Cash Equivalents, end of period | $ | 43,081 |  |  | $ | 4,550 |  |  | $ | 20,907 |  |  | $ | 68,538 |
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS (dollars in thousands) (unaudited)
| For the Twenty-six Weeks Ended July 3, 2011
| The GEO Group, Inc. |  | Combined Subsidiary Guarantors |  | Combined Non-Guarantor Subsidiaries |  | Consolidated
Cash Flow from Operating Activities: |  |  |  |  |  |  |
Net cash provided by (used in) operating activities | $ | 64,488 |  |  | $ | (1,202 | ) |  | $ | 31,976 |  |  | $ | 95,262 |
Cash Flow from Investing Activities: |  |  |  |  |  |  |
Acquisition, cash consideration, net of cash acquired | (409,607 | ) |  | — |  |  | — |  |  | (409,607 | )
Proceeds from sale of property and equipment | — |  |  | 619 |  |  | — |  |  | 619 |
Proceeds from assets held for sale | — |  |  | 6,640 |  |  | — |  |  | 6,640 |
Change in restricted cash and investments | — |  |  | — |  |  | (11,478 | ) |  | (11,478 | )
Capital expenditures | (82,994 | ) |  | (3,236 | ) |  | (1,132 | ) |  | (87,362 | )
Net cash (used in) provided by investing activities | (492,601 | ) |  | 4,023 |  |  | (12,610 | ) |  | (501,188 | )
Cash Flow from Financing Activities: |  |  |  |  |  |  |
Payments on long-term debt | (38,638 | ) |  | (576 | ) |  | (7,618 | ) |  | (46,832 | )
Proceeds from long-term debt | 482,260 |  |  | — |  |  | — |  |  | 482,260 |
Distribution to noncontrolling interests | — |  |  | — |  |  | (4,012 | ) |  | (4,012 | )
Proceeds from the exercise of stock options | 2,209 |  |  | — |  |  | — |  |  | 2,209 |
Income tax benefit of equity compensation | 392 |  |  | — |  |  | — |  |  | 392 |
Debt issuance costs | (10,771 | ) |  | — |  |  | — |  |  | (10,771 | )
Net cash provided by (used in) financing activities | 435,452 |  |  | (576 | ) |  | (11,630 | ) |  | 423,246 |
Effect of Exchange Rate Changes on Cash and Cash Equivalents | — |  |  | — |  |  | 469 |  |  | 469 |
Net Increase in Cash and Cash Equivalents | 7,339 |  |  | 2,245 |  |  | 8,205 |  |  | 17,789 |
Cash and Cash Equivalents, beginning of period | 2,614 |  |  | 221 |  |  | 36,829 |  |  | 39,664 |
Cash and Cash Equivalents, end of period | $ | 9,953 |  |  | $ | 2,466 |  |  | $ | 45,034 |  |  | $ | 57,453 |

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