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Subsequent Events | 3 Months Ended
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Mar. 31, 2018
Subsequent Events [Abstract] |
Subsequent Events | SUBSEQUENT EVENTS Dividend On April 11, 2018, the Board of Directors declared a quarterly cash dividend of $0.47 per share of common stock which will be paid on May 3, 2018 to shareholders of record as of the close of business on April 23, 2018. Options and Restricted Stock Awards On February 12, 2018, the Compensation Committee of the Board of Directors resolved to grant approximately 562,000 options and 914,000 shares of restricted stock to certain employees of the Company, subject to shareholder approval, effective April 24, 2018. Of the total shares of restricted stock granted, 352,500 are performance-based awards which vest subject to the achievement of certain total shareholder return and return on capital employed metrics over a three year period. Credit Agreement On April 30, 2018, the Company executed an amendment to its third amended and restated credit agreement by and among The GEO Group, Inc. and GEO Corrections Holdings, Inc., BNP Paribas, as Administrative Agent, and the lenders who are, or may from time to time become a party thereto. As a result of the amendment, the refinancing lenders will make new terms loans for the purposes of refinancing all of the outstanding term loans under the Company’s existing Credit Agreement. The amendment refinances GEO’s prior Term Loan’s interest rate from LIBOR plus 2.25% to LIBOR plus 2.00%.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
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