XML 57 R41.htm IDEA: XBRL DOCUMENT
v3.22.4

Business Segments and Geographic Information (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Segment Reporting [Abstract] |
Schedule of Operating and Reporting Segments | Segment disclosures below (in thousands) reflect the results of continuing operations. All transactions between segments are eliminated.
Fiscal Year |  | 2022 |  |  | 2021 |  |  | 2020 |
Revenues: |  |  |  |  |  |  |  |  |
U.S. Secure Services |  | $ | 1,437,831 |  |  | $ | 1,488,936 |  |  | $ | 1,571,216 |
Electronic Monitoring and Supervision Services |  |  | 496,268 |  |  |  | 278,934 |  |  |  | 241,944 |
Reentry Services |  |  | 255,428 |  |  |  | 274,893 |  |  |  | 309,398 |
International Services |  |  | 187,200 |  |  |  | 213,849 |  |  |  | 227,540 |
Total revenues |  | $ | 2,376,727 |  |  | $ | 2,256,612 |  |  | $ | 2,350,098 |
Capital Expenditures: |  |  |  |  |  |  |  |  |
U.S. Secure Services |  | $ | 52,613 |  |  | $ | 23,780 |  |  | $ | 58,410 |
Electronic Monitoring and Supervision Services |  |  | 31,354 |  |  |  | 29,504 |  |  |  | 32,972 |
Reentry Services |  |  | 3,181 |  |  |  | 14,675 |  |  |  | 16,276 |
International Services |  |  | 2,878 |  |  |  | 1,435 |  |  |  | 1,142 |
Total capital expenditures |  | $ | 90,026 |  |  | $ | 69,394 |  |  | $ | 108,800 |
Depreciation and amortization: |  |  |  |  |  |  |  |  |
U.S. Secure Services |  | $ | 80,600 |  |  | $ | 83,721 |  |  | $ | 80,702 |
Electronic Monitoring and Supervision Services |  |  | 31,838 |  |  |  | 30,422 |  |  |  | 31,678 |
Reentry Services |  |  | 18,416 |  |  |  | 18,773 |  |  |  | 20,154 |
International Services |  |  | 2,071 |  |  |  | 2,261 |  |  |  | 2,146 |
Total depreciation and amortization |  | $ | 132,925 |  |  | $ | 135,177 |  |  | $ | 134,680 |
Operating Income: |  |  |  |  |  |  |  |  |
U.S. Secure Services |  | $ | 279,975 |  |  | $ | 292,925 |  |  | $ | 298,952 |
Electronic Monitoring and Supervision Services |  |  | 238,194 |  |  |  | 127,070 |  |  |  | 97,421 |
Reentry Services [1] |  |  | 42,923 |  |  |  | 50,128 |  |  |  | 6,740 |
International Services |  |  | 18,982 |  |  |  | 22,266 |  |  |  | 19,664 |
Operating income from segments |  | $ | 580,074 |  |  | $ | 492,389 |  |  | $ | 422,777 |
General and Administrative Expenses |  |  | (196,972 | ) |  |  | (204,306 | ) |  |  | (193,372 | )
Total operating income |  | $ | 383,102 |  |  | $ | 288,083 |  |  | $ | 229,405 |
[1] Operating income for Reentry Services for the year ended December 31, 2020 includes a goodwill impairment charge of $21.1 million.
Schedule of 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 each case, during the years ended December 31, 2022, 2021 and 2020, respectively.
Fiscal Year Ended |  | 2022 |  |  | 2021 |  |  | 2020 |
|  | (In thousands) |
Operating income from segments |  | $ | 580,074 |  |  | $ | 492,389 |  |  | $ | 422,777 |
Unallocated amounts: |  |  |  |  |  |  |  |  |
General and administrative expense |  |  | (196,972 | ) |  |  | (204,306 | ) |  |  | (193,372 | )
Net interest expense |  |  | (147,719 | ) |  |  | (105,453 | ) |  |  | (103,765 | )
Gain (loss) on extinguishment of debt |  |  | (37,895 | ) |  |  | 4,693 |  |  |  | 5,319 |
Net gain (loss) on disposition of assets |  |  | 32,332 |  |  |  | 5,499 |  |  |  | (6,831 | )
Income before income taxes and equity in earnings of affiliates |  | $ | 229,820 |  |  | $ | 192,822 |  |  | $ | 124,128 |
Geographical Information |
|  | 2022 |  |  | 2021 |  |
|  | (In thousands) |  |
Segment assets: |  |  |  |  |  |  |
U.S. Secure Services |  | $ | 2,371,146 |  |  | $ | 2,433,023 |  |
Reentry Services |  |  | 572,154 |  |  |  | 566,916 |  |
Electronic Monitoring and Supervision Services |  |  | 536,291 |  |  |  | 483,112 |  |
International Services |  |  | 66,023 |  |  |  | 451,547 |  |
Total segment assets |  | $ | 3,545,614 |  |  | $ | 3,934,598 |  |
Fiscal Year |  | 2022 |  |  | 2021 |  |  | 2020 |
|  | (In thousands) |
Revenues: |  |  |  |  |  |  |  |  |
U.S. operations |  | $ | 2,189,527 |  |  | $ | 2,043,157 |  |  | $ | 2,123,045 |
Australia operations |  |  | 168,225 |  |  |  | 186,980 |  |  |  | 201,932 |
South African operations |  |  | 18,975 |  |  |  | 19,527 |  |  |  | 17,044 |
United Kingdom operations |  |  | — |  |  |  | 6,948 |  |  |  | 8,077 |
Total revenues |  | $ | 2,376,727 |  |  | $ | 2,256,612 |  |  | $ | 2,350,098 |
Property and Equipment, net: |  |  |  |  |  |  |  |  |
U.S. operations |  | $ | 1,991,968 |  |  | $ | 2,026,252 |  |  | $ | 2,109,070 |
Australia operations |  |  | 9,961 |  |  |  | 11,491 |  |  |  | 12,908 |
South African operations |  |  | 92 |  |  |  | 102 |  |  |  | 127 |
United Kingdom operations |  |  | - |  |  |  | - |  |  |  | 90 |
Total Property and Equipment, net |  | $ | 2,002,021 |  |  | $ | 2,037,845 |  |  | $ | 2,122,195 |
Asset Reconciliation of Segments | The following is a reconciliation of the Company’s reportable segment assets to the Company’s total assets as of December 31, 2022 and 2021, respectively.
|  | 2022 |  |  | 2021 |
|  | (In thousands) |
Reportable segment assets |  | $ | 3,545,614 |  |  | $ | 3,934,598 |
Cash |  |  | 95,073 |  |  |  | 506,491 |
Deferred income tax assets |  |  | 8,005 |  |  |  | — |
Restricted cash and investments, current and non-current |  |  | 111,691 |  |  |  | 96,319 |
Total assets |  | $ | 3,760,383 |  |  | $ | 4,537,408 |
Sources of Revenue |
Fiscal Year |  | 2022 |  |  | 2021 |  |
|  | (In thousands)
Revenues: |  |  |  |  |  |  |
Secure Services [1] |  | $ | 1,625,031 |  |  | $ | 1,702,785 |  |
Electronic Monitoring and Supervision Services |  |  | 496,268 |  |  |  | 278,934 |  |
Reentry Services |  |  | 255,428 |  |  |  | 274,893 |  |
Total revenues |  | $ | 2,376,727 |  |  | $ | 2,256,612 |  |
[1] Includes international secured services
Business Concentration | Except for the major customer noted in the following table, no other single customer made up greater than 10% of the Company’s consolidated revenues for the following fiscal years:
Customer |  | 2022 |  |  | 2021 |  |  | 2020 |
Various agencies of the U.S Federal Government: |  |  | 64 | % |  |  | 58 | % |  |  | 56 | %

X
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 + Details
Name: | us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
Name: | us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 + Details
Name: | us-gaap_ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the extent of the entity's reliance on its major customers, if revenues from transactions with a single external customer amount to 10 percent or more of entity revenues, including the disclosure of that fact, the total amount of revenues from each such customer, and the identity of the reportable segment or segments reporting the revenues. The entity need not disclose the identity of a major customer or the amount of revenues that each segment reports from that customer. For these purposes, a group of companies known to the entity to be under common control is considered a single customer, and the federal government, a state government, a local government such as a county or municipality, or a foreign government is each considered a single customer. + References No definition available. + Details
Name: | us-gaap_ScheduleOfRevenueByMajorCustomersByReportingSegmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227 + Details
Name: | us-gaap_ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsByGeographicalAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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