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Shareholders' Equity | 6 Months Ended
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Jun. 30, 2017
Equity [Abstract] |
Shareholders' Equity | SHAREHOLDERS’ EQUITY The following table presents the changes in shareholders’ equity that are attributable to the Company’s shareholders and to noncontrolling interests (in thousands):
| Common shares |  | Additional Paid-In |  | Earnings in Excess of |  | Accumulated Other Comprehensive |  | Noncontrolling |  | Total Shareholders'
| Shares |  | Amount |  | Capital |  | Distributions |  | Loss |  | Interests |  | Equity
Balance, December 31, 2016 | 112,548 |  |  | $ | 1,125 |  |  | $ | 891,993 |  |  | $ | 112,763 |  |  | $ | (30,825 | ) |  | $ | (99 | ) |  | $ | 974,957 |
Proceeds from exercise of stock options | 307 |  |  | 3 |  |  | 6,147 |  |  | — |  |  | — |  |  | — |  |  | 6,150 |
Stock-based compensation expense | — |  |  | — |  |  | 9,993 |  |  | — |  |  | — |  |  | — |  |  | 9,993 |
Restricted stock granted | 924 |  |  | 9 |  |  | (9 | ) |  | — |  |  | — |  |  | — |  |  | — |
Restricted stock canceled | (27 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Dividends paid | — |  |  | — |  |  | — |  |  | (110,859 | ) |  | — |  |  | — |  |  | (110,859 | )
Issuance of common stock - prospectus supplement | 10,350 |  |  | 104 |  |  | 275,763 |  |  | — |  |  | — |  |  | — |  |  | 275,867 |
Shares withheld for net settlements of share-based awards | (134 | ) |  | (1 | ) |  | (4,091 | ) |  | — |  |  | — |  |  | — |  |  | (4,092 | )
Issuance of common stock - ESPP | 8 |  |  | — |  |  | 242 |  |  | — |  |  | — |  |  | — |  |  | 242 |
Net income (loss) | — |  |  | — |  |  | — |  |  | 71,395 |  |  | — |  |  | (87 | ) |  | 71,308 |
Other comprehensive income | — |  |  | — |  |  | — |  |  | — |  |  | 3,131 |  |  | 2 |  |  | 3,133 |
Balance, June 30, 2017 | 123,976 |  |  | $ | 1,240 |  |  | $ | 1,180,038 |  |  | $ | 73,299 |  |  | $ | (27,694 | ) |  | $ | (184 | ) |  | $ | 1,226,699 |
During the six months ended June 30, 2017, the Company withheld shares through net share settlements to satisfy statutory tax withholding requirements upon vesting of shares of restricted stock held by employees. Outstanding share and per-share amounts disclosed for all periods presented have been retroactively adjusted to reflect the effects of the stock split. Refer to Note 1 - Basis of Presentation. REIT Distributions As a REIT, GEO is required to distribute annually at least 90% of its REIT taxable income (determined without regard to the dividends paid deduction and by excluding net capital gain) and began paying regular quarterly REIT dividends in 2013. The amount, timing and frequency of future dividends, however, will be at the sole discretion of GEO's Board of Directors (the "Board”) and will be declared based upon various factors, many of which are beyond GEO's control, including, GEO's financial condition and operating cash flows, the amount required to maintain REIT status, limitations on distributions in GEO's existing and future debt instruments, limitations on GEO's ability to fund distributions using cash generated through GEO's taxable REIT subsidiaries ("TRSs") and other factors that GEO's Board may deem relevant. During the six months ended June 30, 2017 and the year ended December 31, 2016, respectively, GEO declared and paid the following regular cash distributions to its shareholders as follows:
Declaration Date |  | Record Date | Payment Date |  | Distribution Per Share |  | Aggregate Payment Amount (in millions)
February 3, 2016 |  | February 16, 2016 | February 26, 2016 |  | $0.43 |  | $48.5
April 20, 2016 |  | May 2, 2016 | May 12, 2016 |  | $0.43 |  | $48.7
July 20, 2016 |  | August 1, 2016 | August 12, 2016 |  | $0.43 |  | $48.7
October 18, 2016 |  | October 31, 2016 | November 10, 2016 |  | $0.43 |  | $48.8
February 6, 2017 |  | February 17, 2017 | February 27, 2017 |  | $0.47 |  | $52.5
April 25, 2017 |  | May 9, 2017 | May 19, 2017 |  | $0.47 |  | $58.4
Distributions per share above have been adjusted to reflect the effects of the stock split. Common Stock Offering On March 7, 2017, the Company entered into an underwriting agreement related to the issuance and sale of 9,000,000 shares of common stock, par value $.01 per share, of the Company. The offering price to the public was $27.80 per share and the underwriters agreed to purchase the shares from the Company pursuant to the underwriting agreement at a price of $26.70 per share. In addition, under the terms of the underwriting agreement, the Company granted the underwriters an option, exercisable for 30 days, to purchase up to an additional 1,350,000 shares of common stock. On March 8, 2017, the underwriters exercised in full their option to purchase the additional 1,350,000 shares of common stock. On March 13, 2017, the Company announced that it had completed the sale of 10,350,000 shares of common stock with its previously announced underwritten public offering. GEO received gross proceeds (before underwriting discounts and estimated offering expenses) of approximately $288.1 million from the offering, including approximately $37.6 million in connection with the sale of the additional shares. Fees paid in connection with the offering were not significant and have been netted against additional paid-in capital. The 10,350,000 shares of common stock were issued under GEO's currently effective shelf registration filed with the Securities and Exchange Commission. The net proceeds of this offering were used to repay amounts outstanding under the revolver portion of the Company's senior credit facility and for general corporate purposes. The number of shares and per-share amounts herein have been adjusted to reflect the effects of the stock split. Refer to Note 1 - Basis of Presentation Prospectus Supplement In September 2014, the Company filed with the Securities and Exchange Commission an automatic shelf registration statement on Form S-3. On November 10, 2014, in connection with the shelf registration, the Company filed with the Securities and Exchange Commission a prospectus supplement related to the offer and sale from time to time of the Company's common stock at an aggregate offering price of up to $150.0 million through sales agents. Sales of shares of the Company's common stock under the prospectus supplement and the equity distribution agreements entered into with the sales agents, if any, may be made in negotiated transactions or transactions that are deemed to be "at the market" offerings as defined in Rule 415 under the Securities Act of 1933. There were no shares of common stock sold under this prospectus supplement during the six months ended June 30, 2017 or during the year ended December 31, 2016. Comprehensive Income (Loss) Comprehensive income (loss) represents the change in shareholders' equity from transactions and other events and circumstances arising from non-shareholder sources. The Company's total comprehensive income (loss) is comprised of net income attributable to GEO, net income attributable to noncontrolling interests, foreign currency translation adjustments that arise from consolidating foreign operations that do not impact cash flows, net unrealized gains and/or losses on derivative instruments, and pension liability adjustments within shareholders' equity and comprehensive income (loss). The components of accumulated other comprehensive income (loss) attributable to GEO within shareholders' equity are as follows:
|  | Six Months Ended June 30, 2017
|  | (In thousands)
|  | Foreign currency translation adjustments, net of tax attributable to The GEO Group, Inc. (1) |  | Unrealized (loss)/gain on derivatives, net of tax |  | Pension adjustments, net of tax |  | Total
Balance, December 31, 2016 |  | $ | (11,284 | ) |  | $ | (15,877 | ) |  | $ | (3,664 | ) |  | $ | (30,825 | )
Current-period other comprehensive (loss) income |  | 2,204 |  |  | 816 |  |  | 111 |  |  | 3,131 |
Balance, June 30, 2017 |  | $ | (9,080 | ) |  | $ | (15,061 | ) |  | $ | (3,553 | ) |  | $ | (27,694 | )
(1) The foreign currency translation related to noncontrolling interests was not significant at June 30, 2017 or December 31, 2016.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB Topic 4.E) -URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74567-122707 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(31)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB Topic 4.C) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(30)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(d)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Preferred Stock -URI http://asc.fasb.org/extlink&oid=6521494 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644 Reference 16: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644 + Details
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