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Shareholders' Equity | 3 Months Ended
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Mar. 31, 2013
Equity [Abstract] |
Shareholders' Equity | SHAREHOLDERS’ EQUITY The following table presents the changes in shareholders’ equity that are attributable to the Company’s shareholders and to noncontrolling interests (in thousands):
| Common shares |  | Additional Paid-In |  | Earnings in Excess of |  | Accumulated Other Comprehensive |  | Treasury shares |  | Noncontrolling |  | Total Shareholders'
| Shares |  | Amount |  | Capital |  | Distributions |  | Income (Loss) |  | Shares |  | Amount |  | Interests |  | Equity
Balance, December 31, 2012 | 71,417 |  |  | $ | 860 |  |  | $ | 832,230 |  |  | $ | 264,667 |  |  | $ | 2,670 |  |  | 14,590 |  |  | $ | (53,615 | ) |  | $ | 492 |  |  | $ | 1,047,304 |
Proceeds from stock options exercised | 181 |  |  | 2 |  |  | 3,047 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,049 |
Tax benefit related to equity compensation | — |  |  | — |  |  | 1,127 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,127 |
Stock based compensation expense | — |  |  | — |  |  | 419 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 419 |
Amortization of restricted stock | — |  |  | — |  |  | 1,266 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,266 |
Dividends paid | — |  |  | — |  |  | — |  |  | (35,711 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (35,711 | )
Re-issuance of treasury shares (ESPP) | 2 |  |  | — |  |  | 59 |  |  | — |  |  | — |  |  | (2 | ) |  | 7 |  |  | — |  |  | 66 |
Net income: | — |  |  | — |  |  | — |  |  | 23,420 |  |  | — |  |  | — |  |  | — |  |  | 18 |  |  | 23,438 |
Other comprehensive income (loss) | — |  |  | — |  |  | — |  |  | — |  |  | (1,139 | ) |  | — |  |  | — |  |  | (41 | ) |  | (1,180 | )
Balance, March 31, 2013 | 71,600 |  |  | $ | 862 |  |  | $ | 838,148 |  |  | $ | 252,376 |  |  | $ | 1,531 |  |  | 14,588 |  |  | $ | (53,608 | ) |  | $ | 469 |  |  | $ | 1,039,778 |
REIT 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 distributions in 2013. The amount, timing and frequency of future distributions, however, will be at the sole discretion of GEO's Board of Directors (“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 TRS's and other factors that GEO's Board may deem relevant. On January 17, 2013, the Board of Directors declared GEO's first quarterly REIT cash dividend of $0.50 per share of common stock, which was paid on March 1, 2013 to shareholders of record as of the close of business on February 15, 2013. Stock Repurchase Program The Company had a stock repurchase program which expired on December 31, 2012. There were no stock repurchases under the program during the three months ended April 1, 2012. 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 and comprehensive income. The components of accumulated other comprehensive income (loss) attributable to GEO included in the consolidated statement of shareholders' equity are as follows:
|  | March 31, 2013 |  |  | December 31, 2012 |
|  | (In thousands)
Foreign currency translation adjustments, net of tax attributable to The GEO Group, Inc. [1] |  | $ | 4,462 |  |  | $ | 5,755 |
Unrealized loss on derivatives, net of tax |  | (344 | ) |  | (457 | )
Pension adjustments, net of tax |  | (2,587 | ) |  | (2,628 | )
Total |  | $ | 1,531 |  |  | $ | 2,670 |
[1] The foreign currency translation, net of tax, related to noncontrolling interests was not significant at March 31, 2013 or December 31, 2012, respectively.

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- Definition The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Preferred Stock -URI http://asc.fasb.org/extlink&oid=6521494 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB TOPIC 4.C) -URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187143-122770 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 43 -Section B -Paragraph 7, 11A -Chapter 1 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. 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