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Financial Instruments | 9 Months Ended
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Sep. 30, 2013
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] |
Financial Instruments | FINANCIAL INSTRUMENTS The following tables provide a summary of the Company’s significant financial assets and liabilities carried at fair value and measured on a recurring basis as of September 30, 2013 and December 31, 2012 (in thousands):
|  |  | Fair Value Measurements at September 30, 2013
| Carrying Value at September 30, 2013 |  | Quoted Prices in Active Markets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Assets: |  |  |  |  |  |  |
Interest rate swap derivative assets | $ | 4,045 |  |  | $ | — |  |  | $ | 4,045 |  |  | $ | — |
Restricted investments: |  |  |  |  |  |  |
Guaranteed Investment Contract | 5,742 |  |  | — |  |  | 5,742 |  |  | — |
Rabbi Trust | 8,772 |  |  | 8,772 |  |  | — |  |  | — |
Fixed income securities | 2,042 |  |  | — |  |  | 2,042 |  |  | — |
Liabilities: |  |  |  |  |  |  |
Interest rate swap derivative liabilities | $ | 495 |  |  | $ | — |  |  | $ | 495 |  |  | $ | — |
|  |  | Fair Value Measurements at December 31, 2012
| Carrying Value at December 31, 2012 |  | Quoted Prices in Active Markets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Assets: |  |  |  |  |  |  |
Interest rate swap derivative assets | $ | 6,212 |  |  | $ | — |  |  | $ | 6,212 |  |  | $ | — |
Restricted investments: |  |  |  |  |  |  |
Guaranteed Investment Contract | 5,742 |  |  | — |  |  | 5,742 |  |  | — |
Rabbi Trust | 7,718 |  |  | 7,718 |  |  | — |  |  | — |
Fixed income securities | 2,152 |  |  | — |  |  | 2,152 |  |  | — |
Liabilities: |  |  |  |  |  |  |
Interest rate swap derivative liabilities | $ | 708 |  |  | $ | — |  |  | $ | 708 |  |  | $ | — |
The Company’s Level 1 investment included in the tables above as of September 30, 2013 and December 31, 2012 relates to the Company's rabbi trust established for GEO employee and employer contributions to The GEO Group Inc. Non-qualified Deferred Compensation Plan. These contributions are invested in cash and mutual funds for which quoted market prices in active markets are available. The Company’s Level 2 financial instruments included in the tables above as of September 30, 2013 and December 31, 2012 consist of an interest rate swap liability held by the Company's Australian subsidiary, interest rate swap assets of the Company relating to the 7¾% senior unsecured notes due 2017 (the "7¾% Senior Notes") held as of those dates, an investment in Canadian dollar denominated fixed income securities, and a guaranteed investment contract which is a restricted investment related to CSC of Tacoma LLC ("CSC"). The Australian subsidiary’s interest rate swap liability is valued using a discounted cash flow model based on projected Australian borrowing rates. The fair value measurement of the Company’s other interest rate swap assets are based on pricing models which consider prevailing interest rates, credit risk and similar instruments. The Canadian dollar denominated securities, not actively traded, are valued using quoted rates for these and similar securities. The restricted investment in the guaranteed investment contract is valued using quoted rates for these and similar securities. In October 2013, the lenders to the Company's interest rate swap assets elected to prepay their obligations at the call option price which equaled the fair values of the respective call dates. Refer to Note 9 - Derivative Financial Instruments.

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- Definition The entire disclosure for financial instruments. This disclosure includes, but is not limited to, fair value measurements of short and long term marketable securities, international currencies forward contracts, and auction rate securities. Financial instruments may include hedging and non-hedging currency exchange instruments, derivatives, securitizations and securities available for sale at fair value. Also included are investment results, realized and unrealized gains and losses as well as impairments and risk management disclosures. + References No definition available. + Details
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