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Condensed Consolidating Financial Information (Tables) | 6 Months Ended
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Jun. 30, 2013
Condensed Consolidating Financial Information Disclosure [Abstract] |
CONDENSED CONSOLIDATING BALANCE SHEET |
| As of June 30, 2013
| The GEO Group, Inc. |  | Combined Subsidiary Guarantors |  | Combined Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
ASSETS
Cash and cash equivalents | $ | 5,736 |  |  | $ | 1,084 |  |  | $ | 31,691 |  |  | $ | — |  |  | $ | 38,511 |
Restricted cash and investments | — |  |  | — |  |  | 15,646 |  |  | — |  |  | 15,646 |
Accounts receivable, less allowance for doubtful accounts | 82,406 |  |  | 137,948 |  |  | 18,647 |  |  | — |  |  | 239,001 |
Deferred income tax assets, net | — |  |  | 14,604 |  |  | 3,686 |  |  | — |  |  | 18,290 |
Prepaid expenses and other current assets | 1,168 |  |  | 13,253 |  |  | 11,875 |  |  | (1,154 | ) |  | 25,142 |
Total current assets | 89,310 |  |  | 166,889 |  |  | 81,545 |  |  | (1,154 | ) |  | 336,590 |
Restricted Cash and Investments | 134 |  |  | 9,410 |  |  | 28,204 |  |  | — |  |  | 37,748 |
Property and Equipment, Net | 654,956 |  |  | 973,246 |  |  | 111,784 |  |  | — |  |  | 1,739,986 |
Assets Held for Sale | — |  |  | 1,200 |  |  | — |  |  | — |  |  | 1,200 |
Direct Finance Lease Receivable | — |  |  | — |  |  | 20,445 |  |  | — |  |  | 20,445 |
Intercompany Receivable | 937,073 |  |  | 128,058 |  |  | (1,300 | ) |  | (1,063,831 | ) |  | — |
Deferred Income Tax Assets, Net | 16,230 |  |  | — |  |  | 2,532 |  |  | (16,230 | ) |  | 2,532 |
Goodwill | 34 |  |  | 489,502 |  |  | 680 |  |  | — |  |  | 490,216 |
Intangible Assets, Net | — |  |  | 169,375 |  |  | 1,368 |  |  | — |  |  | 170,743 |
Investment in Subsidiaries | 954,156 |  |  | 442,679 |  |  | — |  |  | (1,396,835 | ) |  | — |
Other Non-Current Assets | 26,815 |  |  | 107,330 |  |  | 34,018 |  |  | (79,421 | ) |  | 88,742 |
Total Assets | $ | 2,678,708 |  |  | $ | 2,487,689 |  |  | $ | 279,276 |  |  | $ | (2,557,471 | ) |  | $ | 2,888,202 |
LIABILITIES AND SHAREHOLDERS’ EQUITY
Accounts payable | $ | 5,290 |  |  | $ | 38,898 |  |  | $ | 3,203 |  |  | $ | — |  |  | $ | 47,391 |
Accrued payroll and related taxes | 1,827 |  |  | 15,868 |  |  | 16,619 |  |  | — |  |  | 34,314 |
Accrued expenses | 61,014 |  |  | 30,678 |  |  | 18,641 |  |  | (1,154 | ) |  | 109,179 |
Current portion of capital lease obligations, long-term debt and non-recourse debt | 3,000 |  |  | 1,212 |  |  | 18,129 |  |  | — |  |  | 22,341 |
Total current liabilities | 71,131 |  |  | 86,656 |  |  | 56,592 |  |  | (1,154 | ) |  | 213,225 |
Deferred Income Tax Liabilities | — |  |  | 31,933 |  |  | — |  |  | (16,230 | ) |  | 15,703 |
Intercompany Payable | 113,567 |  |  | 930,800 |  |  | 19,457 |  |  | (1,063,824 | ) |  | — |
Other Non-Current Liabilities | 14,101 |  |  | 136,207 |  |  | 3,257 |  |  | (79,428 | ) |  | 74,137 |
Capital Lease Obligations | — |  |  | 11,426 |  |  | — |  |  | — |  |  | 11,426 |
Long-Term Debt | 1,444,475 |  |  | — |  |  | — |  |  | — |  |  | 1,444,475 |
Non-Recourse Debt | — |  |  | — |  |  | 93,352 |  |  | — |  |  | 93,352 |
Commitments & Contingencies |  |  |  |  |  |  |  |  |
Shareholders' Equity: |  |  |  |  |  |  |  |  |
The GEO Group, Inc. Shareholders' Equity | 1,035,434 |  |  | 1,290,667 |  |  | 106,168 |  |  | (1,396,835 | ) |  | 1,035,434 |
Noncontrolling Interests | — |  |  | — |  |  | 450 |  |  | — |  |  | 450 |
Total Shareholders’ Equity | 1,035,434 |  |  | 1,290,667 |  |  | 106,618 |  |  | (1,396,835 | ) |  | 1,035,884 |
Total Liabilities and Shareholders' Equity | $ | 2,678,708 |  |  | $ | 2,487,689 |  |  | $ | 279,276 |  |  | $ | (2,557,471 | ) |  | $ | 2,888,202 |
CONDENSED CONSOLIDATING BALANCE SHEET (dollars in thousands)
| As of December 31, 2012
| The GEO Group, Inc. |  | Combined Subsidiary Guarantors |  | Combined Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
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 |
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 | ) |  | — |
Deferred Income Tax Assets, Net | 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 |
Total current liabilities | 162,938 |  |  | 40,497 |  |  | 57,590 |  |  | (1,154 | ) |  | 259,871 |
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: |  |  |  |  |  |  |  |  |  |  |  |  |  |
The GEO Group, Inc. Shareholders' Equity | 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 STATEMENTS OF INCOME | CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (dollars in thousands) (unaudited)
| For the Three Months Ended June 30, 2013
| The GEO Group, Inc. |  | Combined Subsidiary Guarantors |  | Combined Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues | $ | 118,859 |  |  | $ | 314,120 |  |  | $ | 55,585 |  |  | $ | (106,911 | ) |  | $ | 381,653 |
Operating expenses | 102,108 |  |  | 239,194 |  |  | 44,855 |  |  | (106,911 | ) |  | 279,246 |
Depreciation and amortization | 5,875 |  |  | 16,556 |  |  | 1,226 |  |  | — |  |  | 23,657 |
General and administrative expenses | 8,156 |  |  | 15,420 |  |  | 3,787 |  |  | — |  |  | 27,363 |
Operating income (loss) | 2,720 |  |  | 42,950 |  |  | 5,717 |  |  | — |  |  | 51,387 |
Interest income | 4,029 |  |  | 359 |  |  | 1,123 |  |  | (4,346 | ) |  | 1,165 |
Interest expense | (10,373 | ) |  | (12,708 | ) |  | (2,368 | ) |  | 4,346 |  |  | (21,103 | )
Loss on extinguishment of debt | (2,600 | ) |  | (2,927 | ) |  | — |  |  | — |  |  | (5,527 | )
Income (loss) before income taxes and equity in earnings of affiliates | (6,224 | ) |  | 27,674 |  |  | 4,472 |  |  | — |  |  | 25,922 |
Income tax (benefit) provision | (8,339 | ) |  | 226 |  |  | 845 |  |  | — |  |  | (7,268 | )
Equity in earnings of affiliates, net of income tax provision | — |  |  | — |  |  | 1,029 |  |  | — |  |  | 1,029 |
Income (loss) before equity in income of consolidated subsidiaries | 2,115 |  |  | 27,448 |  |  | 4,656 |  |  | — |  |  | 34,219 |
Income from consolidated subsidiaries, net of income tax provision | 32,104 |  |  | — |  |  | — |  |  | (32,104 | ) |  | — |
Income from continuing operations | 34,219 |  |  | 27,448 |  |  | 4,656 |  |  | (32,104 | ) |  | 34,219 |
Net income (loss) from discontinued operations | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net income | 34,219 |  |  | 27,448 |  |  | 4,656 |  |  | (32,104 | ) |  | 34,219 |
Net income attributable to noncontrolling interests | — |  |  | — |  |  | (12 | ) |  | — |  |  | (12 | )
Net income attributable to The GEO Group, Inc. | $ | 34,219 |  |  | $ | 27,448 |  |  | $ | 4,644 |  |  | $ | (32,104 | ) |  | $ | 34,207 |
Net income | $ | 34,219 |  |  | $ | 27,448 |  |  | $ | 4,656 |  |  | $ | (32,104 | ) |  | $ | 34,219 |
Other comprehensive income (loss), net of tax | — |  |  | 40 |  |  | (5,300 | ) |  | — |  |  | (5,260 | )
Total comprehensive income | $ | 34,219 |  |  | $ | 27,488 |  |  | $ | (644 | ) |  | $ | (32,104 | ) |  | $ | 28,959 |
Comprehensive loss attributable to noncontrolling interests | — |  |  | — |  |  | 19 |  |  | — |  |  | 19 |
Comprehensive income attributable to The GEO Group, Inc. | $ | 34,219 |  |  | $ | 27,488 |  |  | $ | (625 | ) |  | $ | (32,104 | ) |  | $ | 28,978 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (dollars in thousands) (unaudited)
| For the Three Months Ended July 1, 2012
| The GEO Group, Inc. |  | Combined Subsidiary Guarantors |  | Combined Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues | $ | 153,753 |  |  | $ | 177,301 |  |  | $ | 57,780 |  |  | $ | (17,661 | ) |  | $ | 371,173 |
Operating expenses | 130,454 |  |  | 110,339 |  |  | 46,009 |  |  | (17,661 | ) |  | 269,141 |
Depreciation and amortization | 7,389 |  |  | 13,433 |  |  | 2,140 |  |  | — |  |  | 22,962 |
General and administrative expenses | 9,384 |  |  | 12,783 |  |  | 3,962 |  |  | — |  |  | 26,129 |
Operating income | 6,526 |  |  | 40,746 |  |  | 5,669 |  |  | — |  |  | 52,941 |
Interest income | 7,847 |  |  | 394 |  |  | 1,661 |  |  | (8,141 | ) |  | 1,761 |
Interest expense | (16,837 | ) |  | (7,926 | ) |  | (3,996 | ) |  | 8,141 |  |  | (20,618 | )
Income (loss) before income taxes and equity in earnings of affiliates | (2,464 | ) |  | 33,214 |  |  | 3,334 |  |  | — |  |  | 34,084 |
Income tax (benefit) provision | (667 | ) |  | 12,860 |  |  | 1,467 |  |  | — |  |  | 13,660 |
Equity in earnings of affiliates, net of income tax provision | — |  |  | — |  |  | 430 |  |  | — |  |  | 430 |
Income (loss) from continuing operations before equity in income of consolidated subsidiaries | (1,797 | ) |  | 20,354 |  |  | 2,297 |  |  | — |  |  | 20,854 |
Income from consolidated subsidiaries, net of income tax provision | 22,651 |  |  | — |  |  | — |  |  | (22,651 | ) |  | — |
Income from continuing operations | 20,854 |  |  | 20,354 |  |  | 2,297 |  |  | (22,651 | ) |  | 20,854 |
Net income from discontinued operations | 1,622 |  |  | 2,046 |  |  | 233 |  |  | (2,279 | ) |  | 1,622 |
Net income | 22,476 |  |  | 22,400 |  |  | 2,530 |  |  | (24,930 | ) |  | 22,476 |
Net income 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 | )
Total comprehensive income | $ | 22,505 |  |  | $ | 22,400 |  |  | $ | 32 |  |  | $ | (24,930 | ) |  | $ | 20,007 |
Comprehensive income 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 STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (dollars in thousands) (unaudited)
| For the Six Months Ended June 30, 2013
| The GEO Group, Inc. |  | Combined Subsidiary Guarantors |  | Combined Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues | $ | 232,348 |  |  | $ | 626,649 |  |  | $ | 112,970 |  |  | $ | (213,283 | ) |  | $ | 758,684 |
Operating expenses | 201,518 |  |  | 479,671 |  |  | 92,137 |  |  | (213,283 | ) |  | 560,043 |
Depreciation and amortization | 11,697 |  |  | 32,438 |  |  | 2,457 |  |  | — |  |  | 46,592 |
General and administrative expenses | 17,354 |  |  | 33,612 |  |  | 8,437 |  |  | — |  |  | 59,403 |
Operating income (loss) | 1,779 |  |  | 80,928 |  |  | 9,939 |  |  | — |  |  | 92,646 |
Interest income | 7,989 |  |  | 909 |  |  | 2,219 |  |  | (8,768 | ) |  | 2,349 |
Interest expense | (20,292 | ) |  | (24,139 | ) |  | (4,781 | ) |  | 8,768 |  |  | (40,444 | )
Loss on extinguishment of debt | (2,600 | ) |  | (2,927 | ) |  | — |  |  | — |  |  | (5,527 | )
Income (loss) before income taxes and equity in earnings of affiliates | (13,124 | ) |  | 54,771 |  |  | 7,377 |  |  | — |  |  | 49,024 |
Income tax (benefit) provision | (9,006 | ) |  | 632 |  |  | 1,987 |  |  | — |  |  | (6,387 | )
Equity in earnings of affiliates, net of income tax provision | — |  |  | — |  |  | 2,246 |  |  | — |  |  | 2,246 |
Income (loss) from continuing operations before equity in income of consolidated subsidiaries | (4,118 | ) |  | 54,139 |  |  | 7,636 |  |  | — |  |  | 57,657 |
Income from consolidated subsidiaries, net of income tax provision | 61,775 |  |  | — |  |  | — |  |  | (61,775 | ) |  | — |
Income from continuing operations | 57,657 |  |  | 54,139 |  |  | 7,636 |  |  | (61,775 | ) |  | 57,657 |
Net income loss from discontinued operations | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net income | 57,657 |  |  | 54,139 |  |  | 7,636 |  |  | (61,775 | ) |  | 57,657 |
Net income attributable to noncontrolling interests | — |  |  | — |  |  | (30 | ) |  | — |  |  | (30 | )
Net income attributable to The GEO Group, Inc. | $ | 57,657 |  |  | $ | 54,139 |  |  | $ | 7,606 |  |  | $ | (61,775 | ) |  | $ | 57,627 |
Net income | $ | 57,657 |  |  | $ | 54,139 |  |  | $ | 7,636 |  |  | $ | (61,775 | ) |  | $ | 57,657 |
Other comprehensive income (loss), net of tax | — |  |  | 80 |  |  | (6,520 | ) |  | — |  |  | (6,440 | )
Total comprehensive income | 57,657 |  |  | 54,219 |  |  | 1,116 |  |  | (61,775 | ) |  | 51,217 |
Comprehensive loss attributable to noncontrolling interests | — |  |  | — |  |  | 42 |  |  | — |  |  | 42 |
Comprehensive income attributable to The GEO Group, Inc. | $ | 57,657 |  |  | $ | 54,219 |  |  | $ | 1,158 |  |  | $ | (61,775 | ) |  | $ | 51,259 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (dollars in thousands) (unaudited)
| For the Six Months Ended July 1, 2012
| The GEO Group, Inc. |  | Combined Subsidiary Guarantors |  | Combined Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues | $ | 294,370 |  |  | $ | 361,488 |  |  | $ | 115,772 |  |  | $ | (40,415 | ) |  | $ | 731,215 |
Operating expenses | 261,460 |  |  | 228,005 |  |  | 90,811 |  |  | (40,415 | ) |  | 539,861 |
Depreciation and amortization | 14,244 |  |  | 26,685 |  |  | 4,272 |  |  | — |  |  | 45,201 |
General and administrative expenses | 18,780 |  |  | 26,077 |  |  | 7,858 |  |  | — |  |  | 52,715 |
Operating income (loss) | (114 | ) |  | 80,721 |  |  | 12,831 |  |  | — |  |  | 93,438 |
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 | ) |  | 65,770 |  |  | 8,025 |  |  | — |  |  | 55,582 |
Income tax (benefit) provision | (6,323 | ) |  | 25,172 |  |  | 3,301 |  |  | — |  |  | 22,150 |
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 | ) |  | 40,598 |  |  | 5,902 |  |  | — |  |  | 34,610 |
Income from consolidated subsidiaries, net of income tax provision | 46,500 |  |  | — |  |  | — |  |  | (46,500 | ) |  | — |
Income from continuing operations | 34,610 |  |  | 40,598 |  |  | 5,902 |  |  | (46,500 | ) |  | 34,610 |
Net income from discontinued operations | 2,925 |  |  | 3,118 |  |  | 553 |  |  | (3,671 | ) |  | 2,925 |
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 | )
Total comprehensive income | $ | 37,594 |  |  | $ | 43,716 |  |  | $ | 5,914 |  |  | $ | (50,171 | ) |  | $ | 37,053 |
Comprehensive income 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 CONSOLIDATING STATEMENTS OF CASH FLOWS |
| For the Six Months Ended June 30, 2013
| The GEO Group, Inc. |  | Combined Subsidiary Guarantors |  | Combined Non-Guarantor Subsidiaries |  | Consolidated
Cash Flow from Operating Activities: |  |  |  |  |  |  |
Net cash provided by operating activities | $ | 58,343 |  |  | $ | 18,932 |  |  | $ | 24,039 |  |  | $ | 101,314 |
Cash Flow from Investing Activities: |  |  |  |  |  |  |
Proceeds from sale of property and equipment | — |  |  | 51 |  |  | — |  |  | 51 |
Proceeds from sale of assets held for sale | — |  |  | 1,968 |  |  | — |  |  | 1,968 |
Net working capital adjustment from RTS divestiture | (996 | ) |  | — |  |  | — |  |  | (996 | )
Change in restricted cash and investments | (134 | ) |  | (1,457 | ) |  | (4,319 | ) |  | (5,910 | )
Capital expenditures | (69,567 | ) |  | (19,666 | ) |  | (688 | ) |  | (89,921 | )
Net cash used in investing activities | (70,697 | ) |  | (19,104 | ) |  | (5,007 | ) |  | (94,808 | )
Cash Flow from Financing Activities: |  |  |  |  |  |  |
Proceeds from long-term debt | 785,000 |  |  | — |  |  | — |  |  | 785,000 |
Income tax benefit of equity compensation | 1,308 |  |  | — |  |  | — |  |  | 1,308 |
Debt issuance costs | (17,017 | ) |  | — |  |  | — |  |  | (17,017 | )
Payments on long-term debt | (688,675 | ) |  | (661 | ) |  | (8,412 | ) |  | (697,748 | )
Proceeds from the exercise of stock options | 4,082 |  |  | — |  |  | — |  |  | 4,082 |
Cash dividends paid | (71,527 | ) |  | — |  |  | — |  |  | (71,527 | )
Proceeds from reissuance of treasury stock in connection with ESPP | 155 |  |  | — |  |  | — |  |  | 155 |
Net cash provided by (used in) financing activities | 13,326 |  |  | (661 | ) |  | (8,412 | ) |  | 4,253 |
Effect of Exchange Rate Changes on Cash and Cash Equivalents | — |  |  | — |  |  | (4,003 | ) |  | (4,003 | )
Net Increase (Decrease) in Cash and Cash Equivalents | 972 |  |  | (833 | ) |  | 6,617 |  |  | 6,756 |
Cash and Cash Equivalents, beginning of period | 4,764 |  |  | 1,917 |  |  | 25,074 |  |  | 31,755 |
Cash and Cash Equivalents, end of period | $ | 5,736 |  |  | $ | 1,084 |  |  | $ | 31,691 |  |  | $ | 38,511 |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS (dollars in thousands) (unaudited)
| For the Six Months Ended July 1, 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 | $ | 98,442 |  |  | $ | 11,721 |  |  | $ | 6,769 |  |  | $ | 116,932 |
Cash provided by operating activities - discontinued operations | 752 |  |  | 6,827 |  |  | 2,455 |  |  | 10,034 |
Net cash provided by operating activities | 99,194 |  |  | 18,548 |  |  | 9,224 |  |  | 126,966 |
Cash Flow from Investing Activities: |  |  |  |  |  |  |
Proceeds from sale of assets held for sale | — |  |  | 297 |  |  | — |  |  | 297 |
Proceeds from sale of property and equipment | — |  |  | 162 |  |  | 69 |  |  | 231 |
Change in restricted cash and investments | (484 | ) |  | (1,350 | ) |  | 2,387 |  |  | 553 |
Capital expenditures | (53,933 | ) |  | (13,363 | ) |  | (2,240 | ) |  | (69,536 | )
Cash (used in) provided by investing activities - continuing operations | (54,417 | ) |  | (14,254 | ) |  | 216 |  |  | (68,455 | )
Cash used in investing activities - discontinued operations | (311 | ) |  | (2,226 | ) |  | — |  |  | (2,537 | )
Net cash (used in) provided by investing activities | (54,728 | ) |  | (16,480 | ) |  | 216 |  |  | (70,992 | )
Cash Flow from Financing Activities: |  |  |  |  |  |  |
Proceeds from long-term debt | 145,000 |  |  | — |  |  | — |  |  | 145,000 |
Payments on long-term debt | (160,556 | ) |  | (693 | ) |  | (8,033 | ) |  | (169,282 | )
Income tax provision of equity compensation | (270 | ) |  | — |  |  | — |  |  | (270 | )
Debt issuance costs | (6 | ) |  | — |  |  | (38 | ) |  | (44 | )
Distribution to noncontrolling interests | — |  |  | — |  |  | (5,758 | ) |  | (5,758 | )
Proceeds from the exercise of stock options | 396 |  |  | — |  |  | — |  |  | 396 |
Payments for retirement of common stock | (1,035 | ) |  | — |  |  | — |  |  | (1,035 | )
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 Increase (Decrease) in Cash and Cash Equivalents | 27,995 |  |  | 1,375 |  |  | (4,432 | ) |  | 24,938 |
Cash and Cash Equivalents, beginning of period | 15,086 |  |  | 3,092 |  |  | 25,200 |  |  | 43,378 |
Cash and Cash Equivalents, end of period | $ | 43,081 |  |  | $ | 4,467 |  |  | $ | 20,768 |  |  | $ | 68,316 |

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