XML 22 R11.htm IDEA: XBRL DOCUMENT
v3.5.0.2

Financial Instruments | 6 Months Ended
--- | ---
Jun. 30, 2016
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 June 30, 2016 and December 31, 2015 (in thousands):
|  |  | Fair Value Measurements at June 30, 2016
| Carrying Value at June 30, 2016 |  | Quoted Prices in Active Markets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Assets: |  |  |  |  |  |  |
Restricted investment: |  |  |  |  |  |  |
Rabbi Trust | $ | 14,973 |  |  | $ | — |  |  | $ | 14,973 |  |  | $ | — |
Fixed income securities | 1,833 |  |  | — |  |  | 1,833 |  |  | — |
Interest rate cap derivatives | 13 |  |  | — |  |  | $ | 13 |  |  | — |
Liabilities: |  |  |  |  |  |  |
Interest rate swap derivatives | $ | 26,288 |  |  | $ | — |  |  | $ | 26,288 |  |  | $ | — |
|  |  | Fair Value Measurements at December 31, 2015
| Carrying Value at December 31, 2015 |  | Quoted Prices in Active Markets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Assets: |  |  |  |  |  |  |
Restricted investments: |  |  |  |  |  |  |
Rabbi Trust | $ | 13,071 |  |  | $ | — |  |  | $ | 13,071 |  |  | $ | — |
Fixed income securities | 1,717 |  |  | — |  |  | 1,717 |  |  | — |
Interest rate cap derivatives | 93 |  |  | — |  |  | 93 |  |  | — |
Liabilities: |  |  |  |  |  |  |
Interest rate swap derivatives | $ | 20,835 |  |  | $ | — |  |  | $ | 20,835 |  |  | $ | — |
The Company’s Level 2 financial instruments included in the tables above as of June 30, 2016 and December 31, 2015 consist of interest rate swap derivative liabilities and interest rate cap derivative assets held by the Company's Australian subsidiary, the Company's rabbi trust established for GEO employee and employer contributions to The GEO Group, Inc. Non-qualified Deferred Compensation Plan and an investment in Canadian dollar denominated fixed income securities. The Australian subsidiary’s interest rate swap derivative liabilities and interest rate cap derivative assets are valued using a discounted cash flow model based on projected Australian borrowing rates. The Company's restricted investment in the rabbi trust is invested in Company owned life insurance policies which are recorded at their cash surrender values. These investments are valued based on the underlying investments held in the policies' separate account. The underlying assets are equity and fixed income pooled funds that are comprised of Level 1 and Level 2 securities. The Canadian dollar denominated securities, not actively traded, are valued using quoted rates for these and similar securities.

X
- 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
Name: | us-gaap_FinancialInstrumentsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration