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Condensed Consolidating Financial Information (Tables) | 9 Months Ended
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Sep. 30, 2014
Condensed Consolidating Financial Information Disclosure [Abstract] |
CONDENSED CONSOLIDATING STATEMENTS OF INCOME | CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (dollars in thousands) (unaudited)
| For the Three Months Ended September 30, 2014
| The GEO Group, Inc. |  | Combined Subsidiary Guarantors |  | Combined Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues | $ | 141,631 |  |  | $ | 337,769 |  |  | $ | 92,300 |  |  | $ | (113,800 | ) |  | $ | 457,900 |
Operating expenses | 115,580 |  |  | 257,645 |  |  | 82,791 |  |  | (113,800 | ) |  | 342,216 |
Depreciation and amortization | 6,395 |  |  | 16,554 |  |  | 1,130 |  |  | — |  |  | 24,079 |
General and administrative expenses | 8,352 |  |  | 14,295 |  |  | 5,640 |  |  | — |  |  | 28,287 |
Operating income | 11,304 |  |  | 49,275 |  |  | 2,739 |  |  | — |  |  | 63,318 |
Interest income | 5,593 |  |  | 966 |  |  | 953 |  |  | (6,464 | ) |  | 1,048 |
Interest expense | (11,716 | ) |  | (14,258 | ) |  | (1,898 | ) |  | 6,464 |  |  | (21,408 | )
Income before income taxes and equity in earnings of affiliates | 5,181 |  |  | 35,983 |  |  | 1,794 |  |  | — |  |  | 42,958 |
Income tax provision | — |  |  | 4,528 |  |  | 1,009 |  |  | — |  |  | 5,537 |
Equity in earnings of affiliates, net of income tax provision | — |  |  | — |  |  | 1,544 |  |  | — |  |  | 1,544 |
Income before equity in income of consolidated subsidiaries | 5,181 |  |  | 31,455 |  |  | 2,329 |  |  | — |  |  | 38,965 |
Income from consolidated subsidiaries, net of income tax provision | 33,784 |  |  | — |  |  | — |  |  | (33,784 | ) |  | — |
Net income | 38,965 |  |  | 31,455 |  |  | 2,329 |  |  | (33,784 | ) |  | 38,965 |
Net loss attributable to noncontrolling interests | — |  |  | — |  |  | 26 |  |  | — |  |  | 26 |
Net income attributable to The GEO Group, Inc. | $ | 38,965 |  |  | $ | 31,455 |  |  | $ | 2,355 |  |  | $ | (33,784 | ) |  | $ | 38,991 |
Net income | $ | 38,965 |  |  | $ | 31,455 |  |  | $ | 2,329 |  |  | $ | (33,784 | ) |  | $ | 38,965 |
Other comprehensive income (loss), net of tax | — |  |  | 19 |  |  | (8,002 | ) |  | — |  |  | (7,983 | )
Total comprehensive income (loss) | $ | 38,965 |  |  | $ | 31,474 |  |  | $ | (5,673 | ) |  | $ | (33,784 | ) |  | $ | 30,982 |
Comprehensive loss attributable to noncontrolling interests | — |  |  | — |  |  | 49 |  |  | — |  |  | 49 |
Comprehensive income (loss) attributable to The GEO Group, Inc. | $ | 38,965 |  |  | $ | 31,474 |  |  | $ | (5,624 | ) |  | $ | (33,784 | ) |  | $ | 31,031 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (dollars in thousands) (unaudited)
| For the Three Months Ended September 30, 2013
| The GEO Group, Inc. |  | Combined Subsidiary Guarantors |  | Combined Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues | $ | 131,159 |  |  | $ | 301,244 |  |  | $ | 52,584 |  |  | $ | (105,145 | ) |  | $ | 379,842 |
Operating expenses | 115,671 |  |  | 233,143 |  |  | 40,234 |  |  | (105,145 | ) |  | 283,903 |
Depreciation and amortization | 6,266 |  |  | 16,411 |  |  | 1,211 |  |  | — |  |  | 23,888 |
General and administrative expenses | 9,235 |  |  | 14,314 |  |  | 3,673 |  |  | — |  |  | 27,222 |
Operating income | (13 | ) |  | 37,376 |  |  | 7,466 |  |  | — |  |  | 44,829 |
Interest income | 11,358 |  |  | 382 |  |  | 980 |  |  | (11,636 | ) |  | 1,084 |
Interest expense | (10,650 | ) |  | (20,328 | ) |  | (2,227 | ) |  | 11,636 |  |  | (21,569 | )
Loss on early extinguishment of debt | — |  |  | (1,451 | ) |  | — |  |  | — |  |  | (1,451 | )
Income (loss) before income taxes and equity in earnings of affiliates | 695 |  |  | 15,979 |  |  | 6,219 |  |  | — |  |  | 22,893 |
Income tax (benefit) provision | (5,673 | ) |  | (3,300 | ) |  | 1,218 |  |  | — |  |  | (7,755 | )
Equity in earnings of affiliates, net of income tax provision | — |  |  | — |  |  | 1,526 |  |  | — |  |  | 1,526 |
Income before equity in income of consolidated subsidiaries | 6,368 |  |  | 19,279 |  |  | 6,527 |  |  | — |  |  | 32,174 |
Income from consolidated subsidiaries, net of income tax provision (benefit) | 25,806 |  |  | — |  |  | — |  |  | (25,806 | ) |  | — |
Income from continuing operations | 32,174 |  |  | 19,279 |  |  | 6,527 |  |  | (25,806 | ) |  | 32,174 |
Net income from discontinued operations | (2,265 | ) |  | — |  |  | — |  |  | — |  |  | (2,265 | )
Net income | 29,909 |  |  | 19,279 |  |  | 6,527 |  |  | (25,806 | ) |  | 29,909 |
Net income attributable to noncontrolling interests | — |  |  | — |  |  | (12 | ) |  | — |  |  | (12 | )
Net income attributable to The GEO Group, Inc. | $ | 29,909 |  |  | $ | 19,279 |  |  | $ | 6,515 |  |  | $ | (25,806 | ) |  | $ | 29,897 |
Net income | $ | 29,909 |  |  | $ | 19,279 |  |  | $ | 6,527 |  |  | $ | (25,806 | ) |  | $ | 29,909 |
Other comprehensive income, net of tax | — |  |  | 40 |  |  | 608 |  |  | — |  |  | 648 |
Total comprehensive income | $ | 29,909 |  |  | $ | 19,319 |  |  | $ | 7,135 |  |  | $ | (25,806 | ) |  | $ | 30,557 |
Comprehensive income attributable to noncontrolling interests | — |  |  | — |  |  | (4 | ) |  | — |  |  | (4 | )
Comprehensive income attributable to The GEO Group, Inc. | $ | 29,909 |  |  | $ | 19,319 |  |  | $ | 7,131 |  |  | $ | (25,806 | ) |  | $ | 30,553 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (dollars in thousands) (unaudited)
| For the Nine Months Ended September 30, 2014
| The GEO Group, Inc. |  | Combined Subsidiary Guarantors |  | Combined Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues | $ | 415,468 |  |  | $ | 980,181 |  |  | $ | 201,391 |  |  | $ | (333,160 | ) |  | $ | 1,263,880 |
Operating expenses | 333,992 |  |  | 760,159 |  |  | 173,206 |  |  | (333,160 | ) |  | 934,197 |
Depreciation and amortization | 19,242 |  |  | 49,357 |  |  | 3,370 |  |  | — |  |  | 71,969 |
General and administrative expenses | 26,773 |  |  | 45,186 |  |  | 12,978 |  |  | — |  |  | 84,937 |
Operating income | 35,461 |  |  | 125,479 |  |  | 11,837 |  |  | — |  |  | 172,777 |
Interest income | 16,208 |  |  | 2,017 |  |  | 2,382 |  |  | (18,003 | ) |  | 2,604 |
Interest expense | (33,913 | ) |  | (41,379 | ) |  | (5,373 | ) |  | 18,003 |  |  | (62,662 | )
Income before income taxes and equity in earnings of affiliates | 17,756 |  |  | 86,117 |  |  | 8,846 |  |  | — |  |  | 112,719 |
Income tax provision | — |  |  | 8,493 |  |  | 2,569 |  |  | — |  |  | 11,062 |
Equity in earnings of affiliates, net of income tax provision | — |  |  | — |  |  | 4,202 |  |  | — |  | 2,246 |  | 4,202 |
Income before equity in income of consolidated subsidiaries | 17,756 |  |  | 77,624 |  |  | 10,479 |  |  | — |  |  | 105,859 |
Income from consolidated subsidiaries, net of income tax provision | 88,103 |  |  | — |  |  | — |  |  | (88,103 | ) |  | — |
Net income | 105,859 |  |  | 77,624 |  |  | 10,479 |  |  | (88,103 | ) |  | 105,859 |
Net loss attributable to noncontrolling interests | — |  |  | — |  |  | 20 |  |  | — |  |  | 20 |
Net income attributable to The GEO Group, Inc. | $ | 105,859 |  |  | $ | 77,624 |  |  | $ | 10,499 |  |  | $ | (88,103 | ) |  | $ | 105,879 |
Net income | $ | 105,859 |  |  | $ | 77,624 |  |  | $ | 10,479 |  |  | $ | (88,103 | ) |  | $ | 105,859 |
Other comprehensive income (loss), net of tax | — |  |  | 58 |  |  | (6,359 | ) |  | — |  |  | (6,301 | )
Total comprehensive income (loss) | $ | 105,859 |  |  | $ | 77,682 |  |  | $ | 4,120 |  |  | $ | (88,103 | ) |  | $ | 99,558 |
Comprehensive loss attributable to noncontrolling interests | — |  |  | — |  |  | 51 |  |  | — |  |  | 51 |
Comprehensive income (loss) attributable to The GEO Group, Inc. | $ | 105,859 |  |  | $ | 77,682 |  |  | $ | 4,171 |  |  | $ | (88,103 | ) |  | $ | 99,609 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (dollars in thousands) (unaudited)
| For the Nine Months Ended September 30, 2013
| The GEO Group, Inc. |  | Combined Subsidiary Guarantors |  | Combined Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues | $ | 363,508 |  |  | $ | 927,893 |  |  | $ | 165,553 |  |  | $ | (318,428 | ) |  | $ | 1,138,526 |
Operating expenses | 317,189 |  |  | 712,814 |  |  | 132,371 |  |  | (318,428 | ) |  | 843,946 |
Depreciation and amortization | 17,963 |  |  | 48,849 |  |  | 3,668 |  |  | — |  |  | 70,480 |
General and administrative expenses | 26,589 |  |  | 47,926 |  |  | 12,110 |  |  | — |  |  | 86,625 |
Operating income | 1,767 |  |  | 118,304 |  |  | 17,404 |  |  | — |  |  | 137,475 |
Interest income | 19,347 |  |  | 1,291 |  |  | 3,199 |  |  | (20,404 | ) |  | 3,433 |
Interest expense | (30,942 | ) |  | (44,467 | ) |  | (7,008 | ) |  | 20,404 |  |  | (62,013 | )
Loss on early extinguishment of debt | (2,600 | ) |  | (4,378 | ) |  | — |  |  | — |  |  | (6,978 | )
Income (loss) before income taxes and equity in earnings of affiliates | (12,428 | ) |  | 70,750 |  |  | 13,595 |  |  | — |  |  | 71,917 |
Income tax (benefit) provision | (14,679 | ) |  | (2,668 | ) |  | 3,205 |  |  | — |  |  | (14,142 | )
Equity in earnings of affiliates, net of income tax provision | — |  |  | — |  |  | 3,772 |  |  | — |  |  | 3,772 |
Income before equity in income of consolidated subsidiaries | 2,251 |  |  | 73,418 |  |  | 14,162 |  |  | — |  |  | 89,831 |
Income from consolidated subsidiaries, net of income tax provision (benefit) | 87,580 |  |  | — |  |  | — |  |  | (87,580 | ) |  | — |
Income from continuing operations | 89,831 |  |  | 73,418 |  |  | 14,162 |  |  | (87,580 | ) |  | 89,831 |
Net income from discontinued operations | (2,265 | ) |  | — |  |  | — |  |  | — |  |  | (2,265 | )
Net income | 87,566 |  |  | 73,418 |  |  | 14,162 |  |  | (87,580 | ) |  | 87,566 |
Net income attributable to noncontrolling interests | — |  |  | — |  |  | (42 | ) |  | — |  |  | (42 | )
Net income attributable to The GEO Group, Inc. | $ | 87,566 |  |  | $ | 73,418 |  |  | $ | 14,120 |  |  | $ | (87,580 | ) |  | $ | 87,524 |
Net income | $ | 87,566 |  |  | $ | 73,418 |  |  | $ | 14,162 |  |  | $ | (87,580 | ) |  | $ | 87,566 |
Other comprehensive income, net of tax | — |  |  | 121 |  |  | (5,912 | ) |  | — |  |  | (5,791 | )
Total comprehensive income | 87,566 |  |  | 73,539 |  |  | 8,250 |  |  | (87,580 | ) |  | 81,775 |
Comprehensive income attributable to noncontrolling interests | — |  |  | — |  |  | 38 |  |  | — |  |  | 38 |
Comprehensive income attributable to The GEO Group, Inc. | $ | 87,566 |  |  | $ | 73,539 |  |  | $ | 8,288 |  |  | $ | (87,580 | ) |  | $ | 81,813 |
CONDENSED CONSOLIDATING BALANCE SHEET |
| As of September 30, 2014
| The GEO Group, Inc. |  | Combined Subsidiary Guarantors |  | Combined Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
ASSETS
Cash and cash equivalents | $ | 19,095 |  |  | $ | 4,744 |  |  | $ | 28,841 |  |  | $ | — |  |  | $ | 52,680 |
Restricted cash and investments | — |  |  | — |  |  | 14,448 |  |  | — |  |  | 14,448 |
Accounts receivable, less allowance for doubtful accounts | 94,598 |  |  | 148,909 |  |  | 23,261 |  |  | — |  |  | 266,768 |
Current deferred income tax assets | — |  |  | 19,236 |  |  | 1,700 |  |  | — |  |  | 20,936 |
Prepaid expenses and other current assets | 9,396 |  |  | 13,496 |  |  | 16,705 |  |  | (1,154 | ) |  | 38,443 |
Total current assets | 123,089 |  |  | 186,385 |  |  | 84,955 |  |  | (1,154 | ) |  | 393,275 |
Restricted Cash and Investments | 212 |  |  | 13,231 |  |  | 7,917 |  |  | — |  |  | 21,360 |
Property and Equipment, Net | 715,243 |  |  | 957,561 |  |  | 84,258 |  |  | — |  |  | 1,757,062 |
Contract Receivable | — |  |  | — |  |  | 51,998 |  |  | — |  |  | 51,998 |
Direct Finance Lease Receivable | — |  |  | — |  |  | 11,584 |  |  | — |  |  | 11,584 |
Intercompany Receivable | 962,384 |  |  | 139,381 |  |  | — |  |  | (1,101,765 | ) |  | — |
Non-Current Deferred Income Tax Assets | — |  |  | — |  |  | 4,821 |  |  | — |  |  | 4,821 |
Goodwill | 34 |  |  | 493,391 |  |  | 650 |  |  | — |  |  | 494,075 |
Intangible Assets, Net | — |  |  | 158,022 |  |  | 1,091 |  |  | — |  |  | 159,113 |
Investment in Subsidiaries | 853,693 |  |  | 438,141 |  |  | (70 | ) |  | (1,291,764 | ) |  | — |
Other Non-Current Assets | 25,987 |  |  | 106,666 |  |  | 51,986 |  |  | (79,960 | ) |  | 104,679 |
Total Assets | $ | 2,680,642 |  |  | $ | 2,492,778 |  |  | $ | 299,190 |  |  | $ | (2,474,643 | ) |  | $ | 2,997,967 |
LIABILITIES AND SHAREHOLDERS’ EQUITY
Accounts payable | $ | 9,642 |  |  | $ | 48,855 |  |  | $ | 3,071 |  |  | $ | — |  |  | $ | 61,568 |
Accrued payroll and related taxes | — |  |  | 34,649 |  |  | 15,582 |  |  | — |  |  | 50,231 |
Accrued expenses and other | 36,541 |  |  | 77,763 |  |  | 16,225 |  |  | (1,154 | ) |  | 129,375 |
Current portion of capital lease obligations, long-term debt and non-recourse debt | 3,000 |  |  | 1,110 |  |  | 18,365 |  |  | — |  |  | 22,475 |
Total current liabilities | 49,183 |  |  | 162,377 |  |  | 53,243 |  |  | (1,154 | ) |  | 263,649 |
Non-Current Deferred Income Tax Liabilities | (2,675 | ) |  | 17,347 |  |  | 17 |  |  | — |  |  | 14,689 |
Intercompany Payable | 129,832 |  |  | 957,569 |  |  | 14,364 |  |  | (1,101,765 | ) |  | — |
Other Non-Current Liabilities | 4,674 |  |  | 139,016 |  |  | 10,389 |  |  | (79,960 | ) |  | 74,119 |
Capital Lease Obligations | — |  |  | 10,132 |  |  | — |  |  | — |  |  | 10,132 |
Long-Term Debt | 1,433,279 |  |  | — |  |  | — |  |  | — |  |  | 1,433,279 |
Non-Recourse Debt | — |  |  | — |  |  | 135,347 |  |  | — |  |  | 135,347 |
Commitments & Contingencies and Other |  |  |  |  |  |  |  |  |  |  |  |  |  |
Shareholders' Equity: |  |  |  |  |  |  |  |  |
The GEO Group, Inc. Shareholders' Equity | 1,066,349 |  |  | 1,206,337 |  |  | 85,427 |  |  | (1,291,764 | ) |  | 1,066,349 |
Noncontrolling Interests | — |  |  | — |  |  | 403 |  |  | — |  |  | 403 |
Total Shareholders’ Equity | 1,066,349 |  |  | 1,206,337 |  |  | 85,830 |  |  | (1,291,764 | ) |  | 1,066,752 |
Total Liabilities and Shareholders' Equity | $ | 2,680,642 |  |  | $ | 2,492,778 |  |  | $ | 299,190 |  |  | $ | (2,474,643 | ) |  | $ | 2,997,967 |
CONDENSED CONSOLIDATING BALANCE SHEET (dollars in thousands)
| As of December 31, 2013
| The GEO Group, Inc. |  | Combined Subsidiary Guarantors |  | Combined Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
ASSETS
Cash and cash equivalents | $ | 30,730 |  |  | $ | 985 |  |  | $ | 20,410 |  |  | $ | — |  |  | $ | 52,125 |
Restricted cash and investments | — |  |  | — |  |  | 11,518 |  |  | — |  |  | 11,518 |
Accounts receivable, less allowance for doubtful accounts | 84,087 |  |  | 149,239 |  |  | 17,204 |  |  | — |  |  | 250,530 |
Current deferred income tax assets | — |  |  | 19,236 |  |  | 1,700 |  |  | — |  |  | 20,936 |
Prepaid expenses and other current assets | 17,834 |  |  | 21,032 |  |  | 11,524 |  |  | (1,154 | ) |  | 49,236 |
Total current assets | 132,651 |  |  | 190,492 |  |  | 62,356 |  |  | (1,154 | ) |  | 384,345 |
Restricted Cash and Investments | 167 |  |  | 11,158 |  |  | 7,024 |  |  | — |  |  | 18,349 |
Property and Equipment, Net | 686,005 |  |  | 956,724 |  |  | 85,069 |  |  | — |  |  | 1,727,798 |
Direct Finance Lease Receivable | — |  |  | — |  |  | 16,944 |  |  | — |  |  | 16,944 |
Intercompany Receivable | 947,916 |  |  | 123,237 |  |  | — |  |  | (1,071,153 | ) |  | — |
Non-Current Deferred Income Tax Assets | — |  |  | — |  |  | 4,821 |  |  | — |  |  | 4,821 |
Goodwill | 34 |  |  | 489,501 |  |  | 661 |  |  | — |  |  | 490,196 |
Intangible Assets, Net | — |  |  | 162,160 |  |  | 1,240 |  |  | — |  |  | 163,400 |
Investment in Subsidiaries | 898,333 |  |  | 421,218 |  |  | — |  |  | (1,319,551 | ) |  | — |
Other Non-Current Assets | 23,346 |  |  | 104,241 |  |  | 35,615 |  |  | (79,691 | ) |  | 83,511 |
Total Assets | $ | 2,688,452 |  |  | $ | 2,458,731 |  |  | $ | 213,730 |  |  | $ | (2,471,549 | ) |  | $ | 2,889,364 |
LIABILITIES AND SHAREHOLDERS’ EQUITY
Accounts payable | $ | 29,866 |  |  | $ | 13,895 |  |  | $ | 3,525 |  |  | $ | — |  |  | $ | 47,286 |
Accrued payroll and related taxes | 207 |  |  | 23,470 |  |  | 15,049 |  |  | — |  |  | 38,726 |
Accrued expenses and other | 26,963 |  |  | 74,645 |  |  | 14,496 |  |  | (1,154 | ) |  | 114,950 |
Current portion of capital lease obligations, long-term debt and non-recourse debt | 3,000 |  |  | 1,185 |  |  | 17,978 |  |  | — |  |  | 22,163 |
Total current liabilities | 60,036 |  |  | 113,195 |  |  | 51,048 |  |  | (1,154 | ) |  | 223,125 |
Non-Current Deferred Income Tax Liabilities | (120 | ) |  | 14,792 |  |  | 17 |  |  | — |  |  | 14,689 |
Intercompany Payable | 114,208 |  |  | 942,666 |  |  | 14,279 |  |  | (1,071,153 | ) |  | — |
Other Non-Current Liabilities | 5,270 |  |  | 138,743 |  |  | 639 |  |  | (79,691 | ) |  | 64,961 |
Capital Lease Obligations | — |  |  | 10,924 |  |  | — |  |  | — |  |  | 10,924 |
Long-Term Debt | 1,485,536 |  |  | — |  |  | — |  |  | — |  |  | 1,485,536 |
Non-Recourse Debt | — |  |  | — |  |  | 66,153 |  |  | — |  |  | 66,153 |
Commitments & Contingencies and Other |  |  |  |  |  |  |  |  |
Shareholders' Equity: |  |  |  |  |  |  |  |  |  |  |  |  |  |
The GEO Group, Inc. Shareholders' Equity | 1,023,522 |  |  | 1,238,411 |  |  | 81,140 |  |  | (1,319,551 | ) |  | 1,023,522 |
Noncontrolling Interests | — |  |  | — |  |  | 454 |  |  | — |  |  | 454 |
Total Shareholders’ Equity | 1,023,522 |  |  | 1,238,411 |  |  | 81,594 |  |  | (1,319,551 | ) |  | 1,023,976 |
Total Liabilities and Shareholders' Equity | $ | 2,688,452 |  |  | $ | 2,458,731 |  |  | $ | 213,730 |  |  | $ | (2,471,549 | ) |  | $ | 2,889,364 |
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS |
| For the Nine Months Ended September 30, 2014
| The GEO Group, Inc. |  | Combined Subsidiary Guarantors |  | Combined Non-Guarantor Subsidiaries |  | Consolidated
Cash Flow from Operating Activities: |  |  |  |  |  |  |
Net cash provided by operating activities | $ | 149,460 |  |  | $ | 53,506 |  |  | $ | (38,341 | ) |  | $ | 164,625 |
Cash Flow from Investing Activities: |  |  |  |  |  |  |
Acquisition of Protocol, cash consideration | — |  |  | (13,025 | ) |  | — |  |  | (13,025 | )
Proceeds from sale of property and equipment | — |  |  | 515 |  |  | — |  |  | 515 |
Change in restricted cash and investments | (212 | ) |  | (2,073 | ) |  | (3,767 | ) |  | (6,052 | )
Capital expenditures | (41,020 | ) |  | (34,432 | ) |  | (2,261 | ) |  | (77,713 | )
Net cash used in investing activities | (41,232 | ) |  | (49,015 | ) |  | (6,028 | ) |  | (96,275 | )
Cash Flow from Financing Activities: |  |  |  |  |  |  |
Proceeds from long-term debt | 459,384 |  |  | — |  |  | — |  |  | 459,384 |
Payments on long-term debt | (508,400 | ) |  | (732 | ) |  | — |  |  | (509,132 | )
Payments on non-recourse debt | — |  |  | — |  |  | (4,511 | ) |  | (4,511 | )
Proceeds from non-recourse debt | — |  |  | — |  |  | 74,191 |  |  | 74,191 |
Taxes paid related to net share settlements of equity awards | (1,844 | ) |  | — |  |  | — |  |  | (1,844 | )
Proceeds from reissuance of treasury stock in connection with ESPP | 277 |  |  | — |  |  | — |  |  | 277 |
Issuance of common stock under prospectus supplement | 54,724 |  |  | — |  |  | — |  |  | 54,724 |
Debt issuance costs | (7,802 | ) |  | — |  |  | (15,706 | ) |  | (23,508 | )
Tax benefit related to equity compensation | 1,498 |  |  | — |  |  | — |  |  | 1,498 |
Proceeds from stock options exercised | 6,384 |  |  | — |  |  | — |  |  | 6,384 |
Cash dividends paid | (124,084 | ) |  | — |  |  | — |  |  | (124,084 | )
Net cash used in financing activities | (119,863 | ) |  | (732 | ) |  | 53,974 |  |  | (66,621 | )
Effect of Exchange Rate Changes on Cash and Cash Equivalents | — |  |  | — |  |  | (1,174 | ) |  | (1,174 | )
Net Increase (Decrease) in Cash and Cash Equivalents | (11,635 | ) |  | 3,759 |  |  | 8,431 |  |  | 555 |
Cash and Cash Equivalents, beginning of period | 30,730 |  |  | 985 |  |  | 20,410 |  |  | 52,125 |
Cash and Cash Equivalents, end of period | $ | 19,095 |  |  | $ | 4,744 |  |  | $ | 28,841 |  |  | $ | 52,680 |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS (dollars in thousands) (unaudited)
| For the Nine Months Ended September 30, 2013
| The GEO Group, Inc. |  | Combined Subsidiary Guarantors |  | Combined Non-Guarantor Subsidiaries |  | Consolidated
Cash Flow from Operating Activities: |  |  |  |  |  |  |
Cash provided by operating activities - continuing operations | $ | 110,143 |  |  | $ | 30,302 |  |  | $ | 15,110 |  |  | $ | 155,555 |
Cash provided by operating activities - discontinued operations | 2,265 |  |  | — |  |  | — |  |  | 2,265 |
Net cash provided by operating activities | 112,408 |  |  | 30,302 |  |  | 15,110 |  |  | 157,820 |
Cash Flow from Investing Activities: |  |  |  |  |  |  |
Proceeds from sale of property and equipment | — |  |  | 204 |  |  | — |  |  | 204 |
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 | (149 | ) |  | (2,055 | ) |  | 16,180 |  |  | 13,976 |
Capital expenditures | (71,848 | ) |  | (27,967 | ) |  | (1,635 | ) |  | (101,450 | )
Net cash used in investing activities | (72,993 | ) |  | (27,850 | ) |  | 14,545 |  |  | (86,298 | )
Cash Flow from Financing Activities: |  |  |  |  |  |  |
Proceeds from long-term debt | 842,000 |  |  | — |  |  | — |  |  | 842,000 |
Payments on long-term debt | (741,313 | ) |  | (890 | ) |  | — |  |  | (742,203 | )
Payments on non-recourse debt | — |  |  | — |  |  | (27,153 | ) |  | (27,153 | )
Proceeds from non-recourse debt | — |  |  | — |  |  | — |  |  | — |
Proceeds from reissuance of treasury stock in connection with ESPP | 228 |  |  | — |  |  | — |  |  | 228 |
Debt issuance costs | (19,317 | ) |  | — |  |  | — |  |  | (19,317 | )
Tax benefit related to equity compensation | 1,883 |  |  | — |  |  | — |  |  | 1,883 |
Proceeds from stock options exercised | 4,941 |  |  | — |  |  | — |  |  | 4,941 |
Cash dividends paid | (107,526 | ) |  | — |  |  | — |  |  | (107,526 | )
Net cash provided by (used in) financing activities | (19,104 | ) |  | (890 | ) |  | (27,153 | ) |  | (47,147 | )
Effect of Exchange Rate Changes on Cash and Cash Equivalents | — |  |  | — |  |  | (2,969 | ) |  | (2,969 | )
Net Increase in Cash and Cash Equivalents | 20,311 |  |  | 1,562 |  |  | (467 | ) |  | 21,406 |
Cash and Cash Equivalents, beginning of period | 4,764 |  |  | 1,917 |  |  | 25,074 |  |  | 31,755 |
Cash and Cash Equivalents, end of period | $ | 25,075 |  |  | $ | 3,479 |  |  | $ | 24,607 |  |  | $ | 53,161 |

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