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Condensed Consolidating Financial Information | 12 Months Ended
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Dec. 31, 2012
Condensed Consolidating Financial Information Disclosure [Abstract] |
Condensed Consolidating Financial Information | Condensed Consolidating Financial Information As discussed in Note 15, the Company completed a private offering of $300.0 million aggregate principal amount of 6.625% senior unsecured notes due 2021 (such 6.625% Senior Notes collectively with the 7 3/4% Senior Notes issued October 20, 2009, the “Notes”). The Notes are fully and unconditionally guaranteed on a joint and several senior unsecured basis by the Company and certain of its wholly-owned domestic subsidiaries (the “Subsidiary Guarantors”). BII Holding has been classified in the Condensed Consolidating Financial Information as a guarantor to the Company’s Notes. On February 10, 2011, the 6.625% Senior Notes were 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 only to non-U.S. persons in accordance with Regulation S promulgated under the Securities Act. In connection with the sale of the 6.625% Senior Notes, the Company entered into a Registration Rights Agreement with the initial purchasers of the 6.625% Senior Notes party thereto, pursuant to which the Company and its Subsidiary Guarantors (as defined below) agreed to file a registration statement with respect to an offer to exchange the 6.625% Senior Notes for a new issue of substantially identical notes registered under the Securities Act. The Company filed a registration statement with respect to this offer to exchange the 6.625% Senior Notes which became effective on July 22, 2011. The following condensed consolidating financial information, which has been prepared in accordance with the requirements for presentation of Rule 3-10(d) of Regulation S-X promulgated under the Securities Act, presents the condensed consolidating financial information separately for: (i) The GEO Group, Inc., as the issuer of the Notes; (ii) The Subsidiary Guarantors, on a combined basis, which are 100% owned by The Geo Group, Inc., and which are guarantors of the Notes; (iii) The Company’s other subsidiaries, on a combined basis, which are not guarantors of the Notes (the “Subsidiary Non-Guarantors”); (iv) Consolidating entries and eliminations representing adjustments to: (a) eliminate intercompany transactions between or among the Company, the Subsidiary Guarantors and the Subsidiary Non-Guarantors and (b) eliminate the investments in the Company’s subsidiaries; and (v) The Company and its subsidiaries on a consolidated basis. CONDENSED CONSOLIDATING BALANCE SHEET
| As of December 31, 2012
| The GEO Group, Inc. |  | Combined Subsidiary Guarantors |  | Combined Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
| (Dollars in thousands)
ASSETS
Cash and cash equivalents | $ | 4,764 |  |  | $ | 1,917 |  |  | $ | 25,074 |  |  | $ | — |  |  | $ | 31,755 |
Restricted cash and investments | — |  |  | — |  |  | 15,654 |  |  | — |  |  | 15,654 |
Accounts receivable, less allowance for doubtful accounts | 124,670 |  |  | 102,704 |  |  | 19,261 |  |  | — |  |  | 246,635 |
Current deferred income tax assets, net | 13,106 |  |  | 1,498 |  |  | 3,686 |  |  | — |  |  | 18,290 |
Prepaid expenses and other current assets | 8,657 |  |  | 5,890 |  |  | 11,456 |  |  | (1,154 | ) |  | 24,849 |
Total current assets | 151,197 |  |  | 112,009 |  |  | 75,131 |  |  | (1,154 | ) |  | 337,183 |
Restricted Cash and Investments | 7,953 |  |  | — |  |  | 24,803 |  |  | — |  |  | 32,756 |
Property and Equipment, Net | 633,458 |  |  | 939,995 |  |  | 113,706 |  |  | — |  |  | 1,687,159 |
Assets Held for Sale | — |  |  | 3,243 |  |  | — |  |  | — |  |  | 3,243 |
Direct Finance Lease Receivable | — |  |  | — |  |  | 26,757 |  |  | — |  |  | 26,757 |
Intercompany Receivable | 591,273 |  |  | 14,305 |  |  | — |  |  | (605,578 | ) |  | — |
Non-Current Deferred Income Tax Assets | 16,230 |  |  | — |  |  | 2,532 |  |  | (16,230 | ) |  | 2,532 |
Goodwill | 34 |  |  | 489,502 |  |  | 772 |  |  | — |  |  | 490,308 |
Intangible Assets, Net | — |  |  | 176,666 |  |  | 1,652 |  |  | — |  |  | 178,318 |
Investment in Subsidiaries | 1,151,998 |  |  | 41,356 |  |  | — |  |  | (1,193,354 | ) |  | — |
Other Non-Current Assets | 38,574 |  |  | 84,931 |  |  | 36,584 |  |  | (79,151 | ) |  | 80,938 |
Total Assets | $ | 2,590,717 |  |  | $ | 1,862,007 |  |  | $ | 281,937 |  |  | $ | (1,895,467 | ) |  | $ | 2,839,194 |
LIABILITIES AND SHAREHOLDERS’ EQUITY
Accounts payable | $ | 29,889 |  |  | $ | 17,407 |  |  | $ | 2,814 |  |  | $ | — |  |  | $ | 50,110 |
Accrued payroll and related taxes | 4,774 |  |  | 16,264 |  |  | 18,284 |  |  | — |  |  | 39,322 |
Accrued expenses | 94,350 |  |  | 5,515 |  |  | 17,846 |  |  | (1,154 | ) |  | 116,557 |
Current portion of capital lease obligations, long-term debt and non-recourse debt | 33,925 |  |  | 1,311 |  |  | 18,646 |  |  | — |  |  | 53,882 |
Current liabilities of discontinued operations | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total current liabilities | 162,938 |  |  | 40,497 |  |  | 57,590 |  |  | (1,154 | ) |  | 259,871 |
Non-Current Deferred Income Tax Liabilities | — |  |  | 31,933 |  |  | — |  |  | (16,230 | ) |  | 15,703 |
Intercompany Payable | — |  |  | 586,428 |  |  | 19,150 |  |  | (605,578 | ) |  | — |
Other Non-Current Liabilities | 63,657 |  |  | 96,822 |  |  | 697 |  |  | (79,151 | ) |  | 82,025 |
Capital Lease Obligations | — |  |  | 11,926 |  |  | — |  |  | — |  |  | 11,926 |
Long-Term Debt | 1,317,310 |  |  | 219 |  |  | — |  |  | — |  |  | 1,317,529 |
Non-Recourse Debt | — |  |  | — |  |  | 104,836 |  |  | — |  |  | 104,836 |
Commitments & Contingencies |  |  |  |  |  |  |  |  |
Shareholders' Equity: |  |  |  |  |  |  |  |  |
Total shareholders’ equity attributable to The GEO Group, Inc. | 1,046,812 |  |  | 1,094,182 |  |  | 99,172 |  |  | (1,193,354 | ) |  | 1,046,812 |
Noncontrolling Interests | — |  |  | — |  |  | 492 |  |  | — |  |  | 492 |
Total Shareholders’ Equity | 1,046,812 |  |  | 1,094,182 |  |  | 99,664 |  |  | (1,193,354 | ) |  | 1,047,304 |
Total Liabilities and Shareholders' Equity | $ | 2,590,717 |  |  | $ | 1,862,007 |  |  | $ | 281,937 |  |  | $ | (1,895,467 | ) |  | $ | 2,839,194 |
CONDENSED CONSOLIDATING BALANCE SHEET
| 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 | $ | 15,086 |  |  | $ | 3,092 |  |  | $ | 25,200 |  |  | $ | — |  |  | $ | 43,378 |
Restricted cash and investments | — |  |  | — |  |  | 42,534 |  |  | — |  |  | 42,534 |
Accounts receivable, less allowance for doubtful accounts | 123,426 |  |  | 122,758 |  |  | 19,066 |  |  | — |  |  | 265,250 |
Current deferred income tax assets, net | 14,063 |  |  | 10,729 |  |  | 3,788 |  |  | — |  |  | 28,580 |
Prepaid expenses and other current assets | 17,169 |  |  | 22,670 |  |  | 10,340 |  |  | (1,154 | ) |  | 49,025 |
Current assets of discontinued operations | 5,021 |  |  | 20,284 |  |  | 5,257 |  |  | — |  |  | 30,562 |
Total current assets | 174,765 |  |  | 179,533 |  |  | 106,185 |  |  | (1,154 | ) |  | 459,329 |
Restricted Cash and Investments | 7,029 |  |  | — |  |  | 49,896 |  |  | — |  |  | 56,925 |
Property and Equipment, Net | 620,124 |  |  | 817,568 |  |  | 250,664 |  |  | — |  |  | 1,688,356 |
Assets Held for Sale | 3,083 |  |  | 1,280 |  |  | — |  |  | — |  |  | 4,363 |
Direct Finance Lease Receivable | — |  |  | — |  |  | 32,146 |  |  | — |  |  | 32,146 |
Intercompany Receivable | 387,013 |  |  | 13,356 |  |  | 13,990 |  |  | (414,359 | ) |  | — |
Non-Current Deferred Income Tax Assets | — |  |  | — |  |  | 1,437 |  |  | — |  |  | 1,437 |
Goodwill | 34 |  |  | 489,502 |  |  | 760 |  |  | — |  |  | 490,296 |
Intangible Assets, Net | — |  |  | 193,851 |  |  | 1,865 |  |  | — |  |  | 195,716 |
Investment in Subsidiaries | 1,333,885 |  |  | 9,784 |  |  | — |  |  | (1,343,669 | ) |  | — |
Other Non-Current Assets | 40,695 |  |  | 73,481 |  |  | 31,022 |  |  | (65,621 | ) |  | 79,577 |
Non-Current Assets of Discontinued Operations | 697 |  |  | 40,289 |  |  | 792 |  |  | — |  |  | 41,778 |
Total Assets | $ | 2,567,325 |  |  | $ | 1,818,644 |  |  | $ | 488,757 |  |  | $ | (1,824,803 | ) |  | $ | 3,049,923 |
LIABILITIES AND SHAREHOLDERS’ EQUITY
Accounts payable | $ | 47,159 |  |  | $ | 16,932 |  |  | $ | 3,942 |  |  | $ | — |  |  | $ | 68,033 |
Accrued payroll and related taxes | 2,855 |  |  | 15,653 |  |  | 16,298 |  |  | — |  |  | 34,806 |
Accrued expenses | 69,585 |  |  | 33,256 |  |  | 24,149 |  |  | (1,154 | ) |  | 125,836 |
Current portion of capital lease obligations, long-term debt and non-recourse debt | 19,037 |  |  | 1,350 |  |  | 33,266 |  |  | — |  |  | 53,653 |
Current liabilities of discontinued operations | 542 |  |  | 4,642 |  |  | 1,306 |  |  | — |  |  | 6,490 |
Total current liabilities | 139,178 |  |  | 71,833 |  |  | 78,961 |  |  | (1,154 | ) |  | 288,818 |
Non-Current Deferred Income Tax Liabilities | 42,879 |  |  | 82,603 |  |  | 34 |  |  | — |  |  | 125,516 |
Intercompany Payable | 14,027 |  |  | 378,005 |  |  | 22,327 |  |  | (414,359 | ) |  | — |
Other Non-Current Liabilities | 29,384 |  |  | 26,702 |  |  | 63,641 |  |  | (65,621 | ) |  | 54,106 |
Capital Lease Obligations | — |  |  | 13,064 |  |  | — |  |  | — |  |  | 13,064 |
Long-Term Debt | 1,318,639 |  |  | 429 |  |  | — |  |  | — |  |  | 1,319,068 |
Non-Recourse Debt | — |  |  | — |  |  | 208,532 |  |  | — |  |  | 208,532 |
Long term liabilities of discontinued operations | — |  |  | 1,668 |  |  | 630 |  |  | — |  |  | 2,298 |
Commitments & Contingencies |  |  |  |  |  |  |  |  |
Shareholders' Equity: |  |  |  |  |  |  |  |  |
Total shareholders’ equity attributable to The GEO Group, Inc. | 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 |  |  | $ | 488,757 |  |  | $ | (1,824,803 | ) |  | $ | 3,049,923 |
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
| For the Fiscal Year Ended December 31, 2012
| The GEO Group, Inc. |  | Combined Subsidiary Guarantors |  | Combined Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues | $ | 605,091 |  |  | $ | 721,949 |  |  | $ | 230,261 |  |  | $ | (78,239 | ) |  | $ | 1,479,062 |
Operating expenses | 529,318 |  |  | 451,564 |  |  | 186,589 |  |  | (78,239 | ) |  | 1,089,232 |
Depreciation and amortization | 29,521 |  |  | 54,719 |  |  | 7,445 |  |  | — |  |  | 91,685 |
General and administrative expenses | 44,214 |  |  | 52,753 |  |  | 16,825 |  |  | — |  |  | 113,792 |
Operating income | 2,038 |  |  | 162,913 |  |  | 19,402 |  |  | — |  |  | 184,353 |
Interest income | 32,580 |  |  | 1,713 |  |  | 6,122 |  |  | (33,699 | ) |  | 6,716 |
Interest expense | (68,737 | ) |  | (33,204 | ) |  | (13,947 | ) |  | 33,699 |  |  | (82,189 | )
Loss on early extinguishment of debt | — |  |  | (8,462 | ) |  | — |  |  | — |  |  | (8,462 | )
Income (loss) before income taxes, equity in earnings of affiliates, and discontinued operations | (34,119 | ) |  | 122,960 |  |  | 11,577 |  |  | — |  |  | 100,418 |
Provision (benefit) for Income Taxes | (11,303 | ) |  | (31,352 | ) |  | 2,093 |  |  | — |  |  | (40,562 | )
Equity in earnings of affiliates, net of income tax provision | — |  |  | — |  |  | 3,578 |  |  | — |  |  | 3,578 |
Income (loss) from continuing operations before equity in income of consolidated subsidiaries | (22,816 | ) |  | 154,312 |  |  | 13,062 |  |  | — |  |  | 144,558 |
Income from consolidated subsidiaries, net of income tax provision | 167,374 |  |  | — |  |  | — |  |  | (167,374 | ) |  | — |
Income from continuing operations | 144,558 |  |  | 154,312 |  |  | 13,062 |  |  | (167,374 | ) |  | 144,558 |
Net income (loss) from discontinued operations | (10,660 | ) |  | (5,942 | ) |  | 447 |  |  | 5,495 |  |  | (10,660 | )
Net income | 133,898 |  |  | 148,370 |  |  | 13,509 |  |  | (161,879 | ) |  | 133,898 |
Less: loss attributable to noncontrolling interests | — |  |  | — |  |  | 852 |  |  |  |  |  | 852 |
Net income attributable to The GEO Group, Inc. | $ | 133,898 |  |  | $ | 148,370 |  |  | $ | 14,361 |  |  | $ | (161,879 | ) |  | $ | 134,750 |
Net income | $ | 133,898 |  |  | $ | 148,370 |  |  | $ | 13,509 |  |  | $ | (161,879 | ) |  | $ | 133,898 |
Other comprehensive income (loss), net of tax | (461 | ) |  | — |  |  | 1,085 |  |  | — |  |  | 624 |
Total comprehensive income | $ | 133,437 |  |  | $ | 148,370 |  |  | $ | 14,594 |  |  | $ | (161,879 | ) |  | $ | 134,522 |
Comprehensive loss attributable to noncontrolling interests | — |  |  | — |  |  | 968 |  |  | — |  |  | 968 |
Comprehensive income attributable to The GEO Group, Inc. | $ | 133,437 |  |  | $ | 148,370 |  |  | $ | 15,562 |  |  | $ | (161,879 | ) |  | $ | 135,490 |
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME
| For the Fiscal Year Ended January 1, 2012
| The GEO Group, Inc. |  | Combined Subsidiary Guarantors |  | Combined Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues | $ | 556,163 |  |  | $ | 717,926 |  |  | $ | 220,352 |  |  | $ | (87,269 | ) |  | $ | 1,407,172 |
Operating expenses | 503,355 |  |  | 448,057 |  |  | 171,867 |  |  | (87,269 | ) |  | 1,036,010 |
Depreciation and amortization | 20,615 |  |  | 53,458 |  |  | 7,475 |  |  | — |  |  | 81,548 |
General and administrative expenses | 39,445 |  |  | 55,698 |  |  | 14,872 |  |  | — |  |  | 110,015 |
Operating income (loss) | (7,252 | ) |  | 160,713 |  |  | 26,138 |  |  | — |  |  | 179,599 |
Interest income | 29,087 |  |  | 2,608 |  |  | 6,462 |  |  | (31,125 | ) |  | 7,032 |
Interest expense | (61,447 | ) |  | (30,720 | ) |  | (14,336 | ) |  | 31,125 |  |  | (75,378 | )
Income before income taxes, equity in earnings of affiliates, and discontinued operations | (39,612 | ) |  | 132,601 |  |  | 18,264 |  |  | — |  |  | 111,253 |
Provision (benefit) for income taxes | (15,158 | ) |  | 51,518 |  |  | 6,812 |  |  | — |  |  | 43,172 |
Equity in earnings of affiliates, net of income tax provision | — |  |  | — |  |  | 1,563 |  |  | — |  |  | 1,563 |
Income (loss) from continuing operations before equity in income of consolidated subsidiaries | (24,454 | ) |  | 81,083 |  |  | 13,015 |  |  | — |  |  | 69,644 |
Income from consolidated subsidiaries, net of income tax provision | 94,098 |  |  | — |  |  | — |  |  | (94,098 | ) |  | — |
Income from continuing operations | 69,644 |  |  | 81,083 |  |  | 13,015 |  |  | (94,098 | ) |  | 69,644 |
Net income from discontinued operations | 7,819 |  |  | 6,329 |  |  | 473 |  |  | (6,802 | ) |  | 7,819 |
Net income | 77,463 |  |  | 87,412 |  |  | 13,488 |  |  | (100,900 | ) |  | 77,463 |
Less: loss attributable to noncontrolling interests | $ | — |  |  | $ | — |  |  | $ | 1,162 |  |  | $ | — |  |  | $ | 1,162 |
Net income attributable to The GEO Group, Inc. | $ | 77,463 |  |  | $ | 87,412 |  |  | $ | 14,650 |  |  | $ | (100,900 | ) |  | $ | 78,625 |
Net income | $ | 77,463 |  |  | $ | 87,412 |  |  | $ | 13,488 |  |  | $ | (100,900 | ) |  | $ | 77,463 |
Other comprehensive loss, net of tax | (1,131 | ) |  | — |  |  | (7,122 | ) |  | — |  |  | (8,253 | )
Total comprehensive income | $ | 76,332 |  |  | $ | 87,412 |  |  | $ | 6,366 |  |  | $ | (100,900 | ) |  | $ | 69,210 |
Comprehensive loss attributable to noncontrolling interests | — |  |  | — |  |  | 1,274 |  |  | — |  |  | 1,274 |
Comprehensive income attributable to The GEO Group, Inc. | $ | 76,332 |  |  | $ | 87,412 |  |  | $ | 7,640 |  |  | $ | (100,900 | ) |  | $ | 70,484 |
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME
| For the Fiscal Year Ended January 2, 2011
| The GEO Group, Inc. |  | Combined Subsidiary Guarantors |  | Combined Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues | $ | 557,473 |  |  | $ | 380,596 |  |  | $ | 214,095 |  |  | $ | (67,572 | ) |  | $ | 1,084,592 |
Operating expenses | 491,532 |  |  | 218,546 |  |  | 169,261 |  |  | (67,572 | ) |  | 811,767 |
Depreciation and amortization | 16,728 |  |  | 22,389 |  |  | 5,248 |  |  | — |  |  | 44,365 |
General and administrative expenses | 46,840 |  |  | 36,746 |  |  | 17,972 |  |  | — |  |  | 101,558 |
Operating income | 2,373 |  |  | 102,915 |  |  | 21,614 |  |  | — |  |  | 126,902 |
Interest income | 5,309 |  |  | 1,297 |  |  | 5,836 |  |  | (6,200 | ) |  | 6,242 |
Interest expense | (29,484 | ) |  | (6,113 | ) |  | (11,297 | ) |  | 6,200 |  |  | (40,694 | )
Loss on early extinguishment of debt | (7,933 | ) |  | — |  |  | — |  |  | — |  |  | (7,933 | )
Income before income taxes, equity in earnings of affiliates, and discontinued operations | (29,735 | ) |  | 98,099 |  |  | 16,153 |  |  | — |  |  | 84,517 |
Provision (benefit) for income taxes | (8,475 | ) |  | 37,705 |  |  | 5,134 |  |  | — |  |  | 34,364 |
Equity in earnings of affiliates, net of income tax provision | — |  |  | — |  |  | 4,218 |  |  | — |  |  | 4,218 |
Income (loss) from continuing operations before equity in income of consolidated subsidiaries | (21,260 | ) |  | 60,394 |  |  | 15,237 |  |  | — |  |  | 54,371 |
Income from consolidated subsidiaries, net of income tax provision | 75,631 |  |  | — |  |  | — |  |  | (75,631 | ) |  | — |
Income from continuing operations | 54,371 |  |  | 60,394 |  |  | 15,237 |  |  | (75,631 | ) |  | 54,371 |
Net income from discontinued operations | 8,419 |  |  | 4,857 |  |  | 864 |  |  | (5,721 | ) |  | 8,419 |
Net income | 62,790 |  |  | 65,251 |  |  | 16,101 |  |  | (81,352 | ) |  | 62,790 |
Less: loss attributable to noncontrolling interests | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 678 |  |  | $ | 678 |
Net income attributable to The GEO Group, Inc. | $ | 62,790 |  |  | $ | 65,251 |  |  | $ | 16,101 |  |  | $ | (80,674 | ) |  | $ | 63,468 |
Net income | $ | 62,790 |  |  | $ | 65,251 |  |  | $ | 16,101 |  |  | $ | (81,352 | ) |  | $ | 62,790 |
Other comprehensive income (loss), net of tax | (383 | ) |  | — |  |  | 5,028 |  |  | — |  |  | 4,645 |
Total comprehensive income | $ | 62,407 |  |  | $ | 65,251 |  |  | $ | 21,129 |  |  | $ | (81,352 | ) |  | $ | 67,435 |
Comprehensive loss attributable to noncontrolling interests | — |  |  | — |  |  | 608 |  |  | — |  |  | 608 |
Comprehensive income attributable to The GEO Group, Inc. | $ | 62,407 |  |  | $ | 65,251 |  |  | $ | 21,737 |  |  | $ | (81,352 | ) |  | $ | 68,043 |
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
| For the Fiscal Year Ended December 31, 2012
| The GEO Group, Inc. |  | Combined Subsidiary Guarantors |  | Combined Non-Guarantor Subsidiaries |  | Consolidated
Cash Flow from Operating Activities: |  |  |  |  |  |  |
Cash provided by operating activities - continuing operations | $ | 107,116 |  |  | $ | 62,330 |  |  | $ | 85,741 |  |  | $ | 255,187 |
Cash provided (used in) by operating activities - discontinued operations | 3,250 |  |  | 26,430 |  |  | (20,627 | ) |  | 9,053 |
Net cash provided by operating activities | 110,366 |  |  | 88,760 |  |  | 65,114 |  |  | 264,240 |
Cash Flow from Investing Activities: |  |  |  |  |  |  |
Acquisition of ownership interests in MCF | — |  |  | (35,154 | ) |  | — |  |  | (35,154 | )
Proceeds from RTS divestiture | 29,653 |  |  | — |  |  | 3,600 |  |  | 33,253 |
Proceeds from sale of property and equipment | — |  |  | 65 |  |  | — |  |  | 65 |
Proceeds from sale of assets held for sale | — |  |  | 5,641 |  |  |  |  | 5,641 |
Change in restricted cash and investments | — |  |  | — |  |  | 51,189 |  |  | 51,189 |
Capital expenditures | (61,425 | ) |  | (42,406 | ) |  | (3,718 | ) |  | (107,549 | )
Cash (used in) provided by investing activities - continuing operations | (31,772 | ) |  | (71,854 | ) |  | 51,071 |  |  | (52,555 | )
Cash (used in) provided by investing activities - discontinued operations | 211 |  |  | (1,820 | ) |  | (1,152 | ) |  | (2,761 | )
Net cash (used in) provided by investing activities | (31,561 | ) |  | (73,674 | ) |  | 49,919 |  |  | (55,316 | )
Cash Flow from Financing Activities: |  |  |  |  |  |  |
Proceeds from long-term debt | 358,000 |  |  | — |  |  | — |  |  | 358,000 |
Income tax benefit of equity compensation | 621 |  |  | — |  |  | — |  |  | 621 |
Payment of make-whole provision and other fees for early extinguishment of debt | — |  |  | (14,861 | ) |  | — |  |  | (14,861 | )
Distribution to noncontrolling interests | — |  |  | — |  |  | (5,758 | ) |  | (5,758 | )
Payment for purchase of treasury shares | (8,666 | ) |  | — |  |  | — |  |  | (8,666 | )
Debt issuance costs | (1,360 | ) |  | — |  |  | (38 | ) |  | (1,398 | )
Payments on long-term debt | (343,987 | ) |  | (1,400 | ) |  | (111,098 | ) |  | (456,485 | )
Proceeds from the exercise of stock options | 9,276 |  |  | — |  |  | — |  |  | 9,276 |
Cash dividends paid | (102,435 | ) |  | — |  |  | — |  |  | (102,435 | )
Proceeds from reissuance of treasury stock in connection with ESPP | 460 |  |  | — |  |  | — |  |  | 460 |
Payment for retirement of common stock | (1,036 | ) |  | — |  |  | — |  |  | (1,036 | )
Net cash used in financing activities | (89,127 | ) |  | (16,261 | ) |  | (116,894 | ) |  | (222,282 | )
Effect of Exchange Rate Changes on Cash and Cash Equivalents | — |  |  | — |  |  | 1,735 |  |  | 1,735 |
Net Decrease in Cash and Cash Equivalents | (10,322 | ) |  | (1,175 | ) |  | (126 | ) |  | (11,623 | )
Cash and Cash Equivalents, beginning of period | 15,086 |  |  | 3,092 |  |  | 25,200 |  |  | 43,378 |
Cash and Cash Equivalents, end of period | $ | 4,764 |  |  | $ | 1,917 |  |  | $ | 25,074 |  |  | $ | 31,755 |
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
| For the Fiscal Year Ended January 1, 2012
| The GEO Group Inc. |  | Combined Subsidiary Guarantors |  | Combined Non-Guarantor Subsidiaries |  | Consolidated
| (Dollars in thousands)
Cash Flow from Operating Activities: |  |  |  |  |  |  |
Cash (used in) provided by operating activities - continuing operations | $ | 173,438 |  |  | $ | 18,834 |  |  | $ | (6,531 | ) |  | $ | 185,741 |
Cash (used in) provided by operating activities - discontinued operations | 3,475 |  |  | 7,026 |  |  | (7,130 | ) |  | 3,371 |
Net cash (used in) provided by operating activities | 176,913 |  |  | 25,860 |  |  | (13,661 | ) |  | 189,112 |
Cash Flow from Investing Activities: |  |  |  |  |  |  |
Acquisition of BI and Cornell, cash consideration, net of cash acquired | (409,607 | ) |  | — |  |  | — |  |  | (409,607 | )
Proceeds from sale of property and equipment | — |  |  | 1,450 |  |  | 33 |  |  | 1,483 |
Proceeds from sale of assets held for sale | — |  |  | 7,121 |  |  |  |  | 7,121 |
Change in restricted cash and investments | — |  |  | — |  |  | (9,503 | ) |  | (9,503 | )
Capital expenditures | (191,642 | ) |  | (28,266 | ) |  | (2,125 | ) |  | (222,033 | )
Cash used in investing activities - continuing operations | (601,249 | ) |  | (19,695 | ) |  | (11,595 | ) |  | (632,539 | )
Cash used in investing activities - discontinued operations | (696 | ) |  | (1,973 | ) |  | (333 | ) |  | (3,002 | )
Net cash used in investing activities | (601,945 | ) |  | (21,668 | ) |  | (11,928 | ) |  | (635,541 | )
Cash Flow from Financing Activities: |  |  |  |  |  |  |
Proceeds from long-term debt | 782,247 |  |  | — |  |  | 53,148 |  |  | 835,395 |
Income tax benefit of equity compensation | 465 |  |  | — |  |  | — |  |  | 465 |
Distribution to noncontrolling interests | — |  |  | — |  |  | (4,012 | ) |  | (4,012 | )
Payment for purchase of treasury shares | (74,982 | ) |  |  |  | — |  |  | (74,982 | )
Debt issuance costs | (15,462 | ) |  | — |  |  | — |  |  | (15,462 | )
Payments on long-term debt | (257,210 | ) |  | (1,275 | ) |  | (31,347 | ) |  | (289,832 | )
Proceeds from the exercise of stock options | 2,446 |  |  | — |  |  | — |  |  | 2,446 |
Net cash provided by (used in) financing activities | 437,504 |  |  | (1,275 | ) |  | 17,789 |  |  | 454,018 |
Effect of Exchange Rate Changes on Cash and Cash Equivalents | — |  |  | — |  |  | (2,299 | ) |  | (2,299 | )
Net Increase (Decrease) in Cash and Cash Equivalents | 12,472 |  |  | 2,917 |  |  | (10,099 | ) |  | 5,290 |
Cash and Cash Equivalents, beginning of period | 2,614 |  |  | 175 |  |  | 35,299 |  |  | 38,088 |
Cash and Cash Equivalents, end of period | $ | 15,086 |  |  | $ | 3,092 |  |  | $ | 25,200 |  |  | $ | 43,378 |
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
| For the Fiscal Year Ended January 2, 2011
| The GEO Group Inc. |  | Combined Subsidiary Guarantors |  | Combined Non-Guarantor Subsidiaries |  | Consolidated
| (Dollars in thousands)
Cash Flow from Operating Activities: |  |  |  |  |  |  |
Cash provided by operating activities - continuing operations | $ | 79,469 |  |  | $ | 6,542 |  |  | $ | 39,461 |  |  | $ | 125,472 |
Cash (used in) provided by operating activities - discontinued operations | (3,818 | ) |  | 9,558 |  |  | (1,322 | ) |  | 4,418 |
Net cash provided by operating activities of continuing operations | 75,651 |  |  | 16,100 |  |  | 38,139 |  |  | 129,890 |
Cash Flow from Investing Activities: |  |  |  |  |  |  |
Acquisition of Cornell, cash consideration, net of cash acquired | (260,255 | ) |  | — |  |  | — |  |  | (260,255 | )
Proceeds from sale of property and equipment | — |  |  | 480 |  |  |  |  |  | 480 |
Change in restricted cash and investments | — |  |  | — |  |  | (11,184 | ) |  | (11,184 | )
Capital expenditures | (79,062 | ) |  | (14,385 | ) |  | (1,244 | ) |  | (94,691 | )
Cash used in investing activities - continuing operations | (339,317 | ) |  | (13,905 | ) |  | (12,428 | ) |  | (365,650 | )
Cash used in investing activities - discontinued operations | (954 | ) |  | (1,369 | ) |  | (288 | ) |  | (2,611 | )
Net cash used in investing activities | (340,271 | ) |  | (15,274 | ) |  | (12,716 | ) |  | (368,261 | )
Cash Flow from Financing Activities: |  |  |  |  |  |  |
Proceeds from long-term debt | 726,000 |  |  | — |  |  | — |  |  | 726,000 |
Payments on long-term debt | (386,285 | ) |  | (720 | ) |  | (10,440 | ) |  | (397,445 | )
Income tax benefit of equity compensation | 3,926 |  |  | — |  |  | — |  |  | 3,926 |
Debt issuance costs | (8,400 | ) |  | — |  |  | — |  |  | (8,400 | )
Payments for purchase of treasury shares | (80,000 | ) |  | — |  |  | — |  |  | (80,000 | )
Payments for retirement of common stock | (7,078 | ) |  | — |  |  | — |  |  | (7,078 | )
Proceeds from the exercise of stock options | 6,695 |  |  | — |  |  | — |  |  | 6,695 |
Net cash provided by (used in) financing activities | 254,858 |  |  | (720 | ) |  | (10,440 | ) |  | 243,698 |
Effect of Exchange Rate Changes on Cash and Cash Equivalents | — |  |  | — |  |  | 4,169 |  |  | 4,169 |
Net Increase (Decrease) in Cash and Cash Equivalents | (9,762 | ) |  | 106 |  |  | 19,152 |  |  | 9,496 |
Cash and Cash Equivalents, beginning of period | 12,376 |  |  | 69 |  |  | 16,147 |  |  | 28,592 |
Cash and Cash Equivalents, end of period | $ | 2,614 |  |  | $ | 175 |  |  | $ | 35,299 |  |  | $ | 38,088 |

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- Definition Entire disclosure of the condensed financial statements (balance sheet, income statement and statement of cash flows), normally using the registrant (parent) as the sole domain member. If condensed consolidating financial statements are being presented, other domain members (in addition to parent) such as guarantor subsidiaries, non-guarantor subsidiaries, and the consolidation eliminations, will be included in order that the respective monetary amounts for each of the domains will aggregate to the respective amounts on the consolidated financial statements. The line items are the various captions used to compile the condensed financial statements. Using extensions, most, if not all, of the elements representing condensed financial statement captions will be the same as those used for the consolidated financial statements captions. + References No definition available. + Details
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