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Shareholders' Equity (Tables) | 3 Months Ended
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Mar. 31, 2022
Equity [Abstract] |
Changes in Shareholders' Equity that are Attributable to the Company's Shareholders and to Noncontrolling Interests | The following tables present the changes in shareholders’ equity that are attributable to the Company’s shareholders and to noncontrolling interests for the three months ended March 31, 2022 and 2021 (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 |
For the Three Months Ended March 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance, January 1, 2022 |  |  | 122,472 |  |  | $ | 1,273 |  |  | $ | 1,276,213 |  |  | $ | (175,960 | ) |  | $ | (20,216 | ) |  |  | 4,852 |  |  | $ | (105,099 | ) |  | $ | (1,195 | ) |  | $ | 975,016 |
Stock-based compensation expense |  |  | — |  |  |  | — |  |  |  | 6,313 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 6,313 |
Restricted stock granted |  |  | 1,784 |  |  |  | 18 |  |  |  | (18 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Restricted stock canceled |  |  | (26 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Shares withheld for net settlements of share- based awards [1] |  |  | (226 | ) |  |  | (2 | ) |  |  | (1,283 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,285 | )
Issuance of common stock - ESPP |  |  | 7 |  |  |  | — |  |  |  | 43 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 43 |
Net income (loss) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 38,219 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (40 | ) |  |  | 38,179 |
Other comprehensive income (loss) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,584 |  |  |  | — |  |  |  | — |  |  |  | (15 | ) |  |  | 2,569 |
Balance, March 31, 2022 |  |  | 124,011 |  |  | $ | 1,289 |  |  | $ | 1,281,268 |  |  | $ | (137,741 | ) |  | $ | (17,632 | ) |  |  | 4,852 |  |  | $ | (105,099 | ) |  | $ | (1,250 | ) |  | $ | 1,020,835 |
|  | 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 |
For the Three Months Ended March 31 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance, January 1, 2021 |  |  | 121,318 |  |  | $ | 1,262 |  |  | $ | 1,262,267 |  |  | $ | (222,892 | ) |  | $ | (22,589 | ) |  |  | 4,835 |  |  | $ | (104,946 | ) |  | $ | (1,020 | ) |  | $ | 912,082 |
Stock-based compensation expense |  |  | — |  |  |  | — |  |  |  | 7,402 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 7,402 |
Restricted stock granted |  |  | 1,248 |  |  |  | 12 |  |  |  | (12 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | - |
Restricted stock canceled |  |  | (18 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | - |
Dividends paid |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (30,486 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (30,486 | )
Other adjustment to paid-in capital |  |  |  |  |  |  |  |  |  |  | 153 |  |  |  |  |  |  |  |  |  |  |  | — |  |  |  |  |  |  |  |  |  |  |  | 153 |
Purchase of treasury shares |  |  | (17 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 17 |  |  |  | (153 | ) |  |  |  |  |  |  | (153 | )
Shares withheld for net settlements of share- based awards [1] |  |  | (243 | ) |  |  | (2 | ) |  |  | (1,899 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,901 | )
Issuance of common stock - ESPP |  |  | 15 |  |  |  | — |  |  |  | 116 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 116 |
Net income (loss) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 50,544 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (61 | ) |  |  | 50,483 |
Other comprehensive income (loss) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,479 |  |  |  | — |  |  |  | — |  |  |  | (2 | ) |  |  | 2,477 |
Balance, March 31, 2021 |  |  | 122,303 |  |  | $ | 1,272 |  |  | $ | 1,268,027 |  |  | $ | (202,834 | ) |  | $ | (20,110 | ) |  |  | 4,852 |  |  | $ | (105,099 | ) |  | $ | (1,083 | ) |  | $ | 940,173 |
[1] | During the three months ended March 31, 2022 and 2021, the Company withheld shares through net share settlements to satisfy statutory tax withholding requirements upon vesting of shares of restricted stock held by employees.
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, 2022 |
|  | (In thousands) |
|  | Foreign currency translation adjustments, net of tax (1) |  |  | Change in fair value of derivatives, net of tax |  |  | Change in marketable securities, net of tax |  |  | Pension adjustments, net of tax |  |  | Total |
Balance, January 1, 2022 |  | $ | (12,461 | ) |  | $ | (2,524 | ) |  | 7 |  |  | $ | (5,238 | ) |  | $ | (20,216 | )
Current-period other comprehensive income (loss) |  |  | 440 |  |  |  | 2,464 |  |  |  | (405 | ) |  |  | 85 |  |  |  | 2,584 |
Balance, March 31, 2022 |  | $ | (12,021 | ) |  | $ | (60 | ) |  | $ | (398 | ) |  | $ | (5,153 | ) |  | $ | (17,632 | )
|  | Three Months Ended March 31, 2021 |
|  | (In thousands) |
|  | Foreign currency translation adjustments, net of tax (1) |  |  | Change in fair value of derivatives, net of tax |  |  | Pension adjustments, net of tax |  |  | Total |
Balance, January 1, 2021 |  | $ | (9,207 | ) |  | $ | (4,752 | ) |  | $ | (8,630 | ) |  | $ | (22,589 | )
Current-period other comprehensive income (loss) |  |  | (626 | ) |  |  | 2,949 |  |  |  | 156 |  |  |  | 2,479 |
Balance, March 31, 2021 |  | $ | (9,833 | ) |  | $ | (1,803 | ) |  | $ | (8,474 | ) |  | $ | (20,110 | )
| (1) | The foreign currency translation related to noncontrolling interests was not significant at March 31, 2022 or 2021.

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