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Condensed Consolidating Financial Information (Tables) | 12 Months Ended
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Dec. 31, 2012
Condensed Consolidating Financial Information Disclosure [Abstract] |
CONDENSED CONSOLIDATING BALANCE SHEET | 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 STATEMENTS OF INCOME | 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 | 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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