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Shareholders' Equity (Tables) | 3 Months Ended
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Mar. 31, 2019
Equity [Abstract] |
Changes in shareholders' equity that are attributable to the Company's shareholders and to noncontrolling interests | The following table presents the changes in shareholders’ equity that are attributable to the Company’s shareholders and to noncontrolling interests for the three months ended March 31, 2019 and 2018 (in thousands):
| Common shares |  | Additional Paid-In |  | Distributions in Excess of |  | Accumulated Other Comprehensive |  | Treasury shares |  | Noncontrolling |  | Total Shareholders'
| Shares |  | Amount |  | Capital |  | Earnings |  | Loss |  | Shares |  | Amount |  | Interests |  | Equity
Balance, January 1, 2019 | 120,585 |  |  | $ | 1,248 |  |  | $ | 1,210,916 |  |  | $ | (52,868 | ) |  | $ | (23,618 | ) |  | 4,210 |  |  | $ | (95,175 | ) |  | $ | (599 | ) |  | $ | 1,039,904 |
Proceeds from exercise of stock options | 22 |  |  | — |  |  | 333 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 333 |
Stock-based compensation expense | — |  |  | — |  |  | 6,727 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 6,727 |
Restricted stock granted | 778 |  |  | 8 |  |  | (8 | ) |  | — |  |  | — |  |  |  |  | — |  |  | — |  |  | — |
Restricted stock canceled | (6 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Dividends paid | — |  |  | — |  |  | — |  |  | (57,945 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (57,945 | )
Shares withheld for net settlements of share-based awards [1] | (198 | ) |  | (2 | ) |  | (4,170 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (4,172 | )
Issuance of common stock - ESPP | 6 |  |  | — |  |  | 124 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 124 |
Transition adjustment for accounting standard adoption [2] | — |  |  | — |  |  | — |  |  | (968 | ) |  | 968 |  |  | — |  |  | — |  |  | — |  |  | — |
Net income (loss) | — |  |  | — |  |  | — |  |  | 40,705 |  |  | — |  |  | — |  |  | — |  |  | (56 | ) |  | 40,649 |
Other comprehensive income | — |  |  | — |  |  | — |  |  | — |  |  | 1,284 |  |  | — |  |  | — |  |  | — |  |  | 1,284 |
Balance, March 31, 2019 | 121,187 |  |  | $ | 1,254 |  |  | $ | 1,213,922 |  |  | $ | (71,076 | ) |  | $ | (21,366 | ) |  | 4,210 |  |  | $ | (95,175 | ) |  | $ | (655 | ) |  | $ | 1,026,904 |
| Common shares |  | Additional Paid-In |  | Earnings in Excess of |  | Accumulated Other Comprehensive |  | Treasury shares |  | Noncontrolling |  | Total Shareholders'
| Shares |  | Amount |  | Capital |  | Distributions |  | Loss |  | Shares |  | Amount |  | Interests |  | Equity
Balance, January 1, 2018 | 124,008 |  |  | $ | 1,240 |  |  | $ | 1,190,906 |  |  | $ | 31,541 |  |  | $ | (24,446 | ) |  | — |  |  | — |  |  | $ | (322 | ) |  | $ | 1,198,919 |
Proceeds from exercise of stock options | 15 |  |  | 1 |  |  | 260 |  | — |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 261 |
Stock-based compensation expense | — |  |  | — |  |  | 5,827 |  | — |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 5,827 |
Restricted stock canceled | (9 | ) |  | — |  |  | — |  | — |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Dividends paid | — |  |  | — |  |  | — |  |  | (58,319 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (58,319 | )
Shares withheld for net settlements of share-based awards [1] | (169 | ) |  | (2 | ) |  | (4,355 | ) | — |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (4,357 | )
Issuance of common stock - ESPP | 8 |  |  | — |  |  | 141 |  | — |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 141 |
Repurchases of common stock | (1,848 | ) |  | — |  |  | — |  | — |  | — |  |  | — |  |  | 1,848 |  |  | (40,182 | ) |  | — |  |  | (40,182 | )
Net income (loss) | — |  |  | — |  |  | — |  |  | 34,987 |  |  | — |  |  | — |  |  | — |  |  | (67 | ) |  | 34,920 |
Other comprehensive income | — |  |  | — |  |  | — |  |  | — |  |  | 1,354 |  |  | — |  |  | — |  |  | 8 |  |  | 1,362 |
Balance, March 31, 2018 | 122,005 |  |  | $ | 1,239 |  |  | $ | 1,192,779 |  |  | $ | 8,209 |  |  | $ | (23,092 | ) |  | 1,848 |  |  | $ | (40,182 | ) |  | $ | (381 | ) |  | $ | 1,138,572 |
[1] During the three months ended March 31, 2019 and 2018, the Company withheld shares through net share settlements to satisfy statutory tax withholding requirements upon vesting of shares of restricted stock held by employees. [2] On January 1, 2019, the Company adopted Accounting Standard Update ("ASU") No. 2018-02 "Income Statement-Reporting Comprehensive Income-Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income". Refer to Note 15 - Recent Accounting Pronouncements for further information.
Dividends declared | During the three months ended March 31, 2019 and the year ended December 31, 2018 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 5, 2018 |  | February 16, 2018 | February 27, 2018 |  | $0.47 |  | $58.3
April 11, 2018 |  | April 23, 2018 | May 3, 2018 |  | $0.47 |  | $57.4
July 10, 2018 |  | July 20, 2018 | July 27, 2018 |  | $0.47 |  | $57.2
October 15, 2018 |  | October 26, 2018 | November 2, 2018 |  | $0.47 |  | $57.2
February 4, 2019 |  | February 15, 2019 | February 22, 2019 |  | $0.48 |  | $57.9
Schedule of accumulated other comprehensive income (loss) | The components of accumulated other comprehensive income (loss) attributable to GEO within shareholders' equity are as follows:
|  | Three Months Ended March 31, 2019
|  | (In thousands)
|  | Foreign currency translation adjustments, net of tax attributable to The GEO Group, Inc. (1) |  | Change in fair value of derivatives, net of tax |  | Pension adjustments, net of tax |  | Total
Balance, January 1, 2019 |  | $ | (14,573 | ) |  | $ | (5,746 | ) |  | $ | (3,299 | ) |  | $ | (23,618 | )
Current-period other comprehensive (loss) income |  | 1,736 |  |  | 1,164 |  |  | (648 | ) |  | 2,252 |
Balance, March 31, 2019 |  | $ | (12,837 | ) |  | $ | (4,582 | ) |  | $ | (3,947 | ) |  | $ | (21,366 | )
(1) The foreign currency translation related to noncontrolling interests was not significant at March 31, 2019 or December 31, 2018.
|  | Three Months Ended March 31, 2018
|  | (In thousands)
|  | Foreign currency translation adjustments, net of tax attributable to The GEO Group, Inc. (1) |  | Change in fair value of derivatives, net of tax |  | Pension adjustments, net of tax |  | Total
Balance, January 1, 2018 |  | (7,470 | ) |  | (11,892 | ) |  | (5,084 | ) |  | (24,446 | )
Current-period other comprehensive (loss) income |  | 513 |  |  | 736 |  |  | 105 |  |  | 1,354 |
Balance, March 31, 2018 |  | (6,957 | ) |  | (11,156 | ) |  | (4,979 | ) |  | (23,092 | )
1) The foreign currency translation related to noncontrolling interests was not significant at March 31, 2018 or December 31, 2017.

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