Earnings Per Share

12 Months Ended

Dec. 31, 2013

Basic and diluted earnings per share (“EPS”) from continuing operations were calculated for the year ended December 31, 2013 and fiscal years ended December 31, 2012 and January 1, 2012, respectively, as follows:



Fiscal Year	2013			2012		2011
	(In thousands, except per share data)
Income from continuing operations	$	117,462		$	144,558	$	69,644
(Income) loss attributable to noncontrolling interests	(62		)	852		1,162
Income from continuing operations attributable to The GEO Group, Inc.	$	117,400		$	145,410	$	70,806
Basic earnings per share attributable to The GEO Group, Inc.:
Weighted average shares outstanding	71,116			60,934		63,425
Per share amount from continuing operations	$	1.65		$	2.39	$	1.12
Diluted earnings per share attributable to The GEO Group, Inc.:
Weighted average shares outstanding	71,116			60,934		63,425
Dilutive effect of equity incentive plans	489			331		315
Weighted average shares assuming dilution	71,605			61,265		63,740
Per share amount from continuing operations	$	1.64		$	2.37	$	1.11

As discussed in Note 3 - Shareholders' Equity, on December 31, 2012, GEO paid a Special Dividend in connection with its conversion to a REIT. The shareholders were allowed to elect to receive their entire payment of the special dividend in either cash or in shares of common stock, except that GEO placed a limit on the aggregate amount of cash payable to the shareholders.

Under ASC 505, Equity and ASU 2010-01, Accounting for Distributions to Shareholders with Components of Stock and Cash, a consensus of the FASB Emerging Issues Task Force, a distribution that allows shareholders to elect to receive cash or stock with a potential limitation on the total amount of cash that all shareholders can elect to receive in the aggregate is considered a share issuance that is reflected in earnings per share prospectively. As such, the stock portion of the Special Dividend is presented prospectively in basic and diluted earnings per share as presented above and was not presented retroactively for all periods presented.

For the fiscal year ended December 31, 2013, 60,011 weighted average shares of common stock underlying options were excluded from the computation of diluted EPS because the effect would be anti-dilutive. No common stock equivalents from restricted shares were anti-dilutive.

For the fiscal year ended December 31, 2012, 62,769 weighted average shares of common stock underlying options were excluded from the computation of diluted EPS because the effect would be anti-dilutive. No common stock equivalents from restricted shares were anti-dilutive.

For the fiscal year ended January 1, 2012, 105,307 weighted average shares of common stock underlying options were excluded from the computation of diluted EPS because the effect would be anti-dilutive. No common stock equivalents from restricted shares were anti-dilutive.

- Definition

The entire disclosure for earnings per share.

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