XML 31 R20.htm IDEA: XBRL DOCUMENT
v3.21.2

Business Segments and Geographic Information | 9 Months Ended
--- | ---
Sep. 30, 2021
Segment Reporting [Abstract] |
Business Segments and Geographic Information | 12. BUSINESS SEGMENTS AND GEOGRAPHIC INFORMATION Operating and Reporting Segments The Company conducts its business through four reportable business segments: the U.S. Secure Services segment; the GEO Care segment; the International Services segment; and the Facility Construction & Design segment. The Company's segment revenues from external customers and a measure of segment profit are as follows (in thousands):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, 2021 |  |  | September 30, 2020 |  |  | September 30, 2021 |  |  | September 30, 2020 |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Secure Services |  | $ | 369,609 |  |  | $ | 392,384 |  |  | $ | 1,125,014 |  |  | $ | 1,180,211 |
GEO Care |  |  | 135,315 |  |  |  | 134,940 |  |  |  | 412,702 |  |  |  | 417,643 |
International Services |  |  | 52,350 |  |  |  | 48,489 |  |  |  | 160,755 |  |  |  | 158,593 |
Facility Construction & Design |  |  | 3 |  |  |  | 3,323 |  |  |  | 602 |  |  |  | 15,535 |
Total revenues |  | $ | 557,277 |  |  | $ | 579,136 |  |  | $ | 1,699,073 |  |  | $ | 1,771,982 |
Operating income from segments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Secure Services |  | $ | 72,054 |  |  | $ | 78,347 |  |  | $ | 219,471 |  |  | $ | 227,151 |
GEO Care |  |  | 48,317 |  |  |  | 28,617 |  |  |  | 129,124 |  |  |  | 89,166 |
International Services |  |  | 4,123 |  |  |  | 4,400 |  |  |  | 17,014 |  |  |  | 15,316 |
Facility Construction & Design |  |  | — |  |  |  | 13 |  |  |  | 98 |  |  |  | 48 |
Operating income from segments |  | $ | 124,494 |  |  | $ | 111,377 |  |  | $ | 365,707 |  |  | $ | 331,681 |
General and Administrative Expenses |  |  | (50,475 | ) |  |  | (46,644 | ) |  | $ | (153,642 | ) |  |  | (145,969 | )
Total Operating Income |  | $ | 74,019 |  |  | $ | 64,733 |  |  | $ | 212,065 |  |  | $ | 185,712 |
Pre-Tax Income Reconciliation of Segments The following is a reconciliation of the Company’s total operating income from its reportable segments to the Company’s income before income taxes and equity in earnings of affiliates (in thousands):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, 2021 |  |  | September 30, 2020 |  |  | September 30, 2021 |  |  | September 30, 2020 |
Operating income from segments |  | $ | 124,494 |  |  | $ | 111,377 |  |  | $ | 365,707 |  |  | $ | 331,681 |
Unallocated amounts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
General and administrative expenses |  |  | (50,475 | ) |  |  | (46,644 | ) |  |  | (153,642 | ) |  |  | (145,969 | )
Net interest expense |  |  | (26,535 | ) |  |  | (24,389 | ) |  |  | (78,245 | ) |  |  | (78,493 | )
Gain on extinguishment of debt |  |  | - |  |  |  | 1,472 |  |  |  | 4,693 |  |  |  | 3,035 |
Loss on asset divestiture |  |  | (5,031 | ) |  |  | - |  |  |  | (5,031 | ) |  |  | - |
(Loss) gain on disposition of real estate |  |  | (1,057 | ) |  |  | (271 | ) |  |  | 9,322 |  |  |  | (1,151 | )
Income before income taxes and equity in earnings of affiliates |  | $ | 41,396 |  |  | $ | 41,545 |  |  | $ | 142,804 |  |  | $ | 109,103 |
Equity in Earnings of Affiliates Equity in earnings of affiliates includes the Company’s 50% owned joint ventures in South African Custodial Services Pty. Limited (“SACS”), located in South Africa, and GEOAmey PECS Limited (“GEOAmey”), located in the United Kingdom. The Company's investments in these entities are accounted for under the equity method of accounting. The Company’s investments in these entities are presented as a component of Other Non-Current Assets in the accompanying consolidated balance sheets. The Company has recorded $2.7 million in earnings, net of tax, for SACS operations during the nine months ended September 30, 2021, and $2.8 million in earnings, net of tax, for SACS operations during the nine months ended September 30, 2020, which are included in equity in earnings of affiliates, net of income tax provision in the accompanying consolidated statements of operations. As of September 30, 2021, and December 31, 2020, the Company’s investment in SACS was $10.7 million and $11.1 million, respectively, and represents its share of cumulative reported earnings. The Company has recorded $2.9 million in earnings, net of tax, for GEOAmey's operations during the nine months ended September 30, 2021, and $4.4 million in earnings, net of tax, for GEOAmey's operations during the nine months ended September 30, 2020, which are included in equity in earnings of affiliates, net of income tax provision in the accompanying consolidated statements of operations. As of September 30, 2021, and December 31, 2020, the Company’s investment in GEOAmey was $9.4 million and $11.8 million, respectively, and represents its share of cumulative reported earnings.

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

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration