XML 20 R8.htm IDEA: XBRL DOCUMENT v3.19.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash Flow from Operating Activities:    
Net income $ 82,485 $ 72,245
Net loss attributable to noncontrolling interests 134 163
Net income attributable to The GEO Group, Inc. 82,619 72,408
Adjustments to reconcile net income attributable to The GEO Group, Inc. to net cash provided by operating activities:    
Depreciation and amortization expense 64,821 63,239
Stock-based compensation 12,180 10,787
Loss on extinguishment of debt 5,741 574
Amortization of debt issuance costs, discount and/or premium and other non-cash interest 5,023 3,992
Provision for doubtful accounts 259 525
Equity in earnings of affiliates, net of tax (4,417) (4,336)
Dividends received from unconsolidated joint venture 3,088 3,957
Loss (gain) on sale/disposal of property and equipment, net 1,972 (1,001)
Loss on assets held for sale 1,083 0
Changes in assets and liabilities, net of effects of acquisitions:    
Changes in accounts receivable, prepaid expenses and other assets 38,866 19,838
Changes in contract receivable 3,151 (4,919)
Changes in accounts payable, accrued expenses and other liabilities 2,681 15,189
Net cash provided by operating activities 217,067 180,253
Cash Flow from Investing Activities:    
Insurance proceeds - damaged property 10,761 4,036
Proceeds from sale of property and equipment 304 1,717
Proceeds from sale of assets held for sale 0 3,797
Change in restricted investments (4,816) (1,490)
Capital expenditures (55,410) (107,064)
Net cash used in investing activities (49,161) (99,004)
Cash Flow from Financing Activities:    
Proceeds from long-term debt 170,000 245,000
Payments on long-term debt (213,926) (134,000)
Payments on non-recourse debt (326,942) (7,490)
Proceeds from non-recourse debt 326,127 0
Taxes paid related to net share settlements of equity awards (4,177) (4,391)
Proceeds from issuance of common stock in connection with ESPP 252 264
Payment for repurchases of common stock 0 (70,446)
Debt issuance costs 9,937 990
Proceeds from the exercise of stock options 1,077 1,372
Cash dividends paid (116,122) (115,017)
Net cash used in financing activities (173,648) (85,698)
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash and Cash Equivalents 824 (1,881)
Net Decrease in Cash, Cash Equivalents and Restricted Cash and Cash Equivalents (4,918) (6,330)
Cash, Cash Equivalents and Restricted Cash and Cash Equivalents, beginning of period 84,472 133,545
Cash, Cash Equivalents and Restricted Cash and Cash Equivalents, end of period 79,554 127,215
Non-cash Investing and Financing activities:    
Right-of-use assets obtained from operating lease liabilities upon adoption of new lease standard (Refer to Note 2 - Leases) 147,000 0
Capital expenditures in accounts payable and accrued expenses $ 6,442 $ 5,408