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Business Segments and Geographic Information | 12 Months Ended
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Dec. 31, 2022
Segment Reporting [Abstract] |
Business Segments and Geographic Information | 15. 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 Electronic Monitoring and Supervision Services segment; the Reentry Services segment; and the International Services segment. The Company has identified these four reportable segments to reflect the current view that the Company operates four distinct business lines, each of which constitutes a material part of its overall business. The Company determined that its previously reportable business segment, Facility Construction and Design, no longer qualifies as a reportable segment as it no longer meets certain quantitative thresholds and has been aggregated with the Company’s International Services reportable business segment below. In addition, the Company appointed a new Chief Executive Officer, the chief operating decision maker, during fiscal 2021. Based on changes to the way the Company’s chief operating decision maker views the business and financial results used to allocate resources to its electronic monitoring and supervision services operations, along with the growth of the business, the Company will report the electronic monitoring and supervision services operation as a separate reportable segment. This new segment will be presented as Electronic Monitoring and Supervision Services. Previously, the electronic monitoring and supervision services operations were included in the GEO Care reportable segment. In addition, the GEO Care reportable segment was renamed Reentry Services and will include services provided to adults for residential and non-residential treatment, educational and community-based programs, pre-release and half-way house programs. Reentry Services also includes activities for our former youth division for half of 2021 and all historical periods. The youth division was divested on July 1, 2021. The U.S. Secure Services segment primarily encompasses U.S.-based secure services business. The Electronic Monitoring and Supervision Services segment, which conducts its services in the United States, represents services provided to adults for monitoring services and evidence-based supervision and treatment programs for community-based parolees, probationers, and pretrial defendants. The Reentry Services segment, which conducts its services in the United States represents services provided to adults for residential and non-residential treatment, educational and community-based programs, pre-release and half-way house programs. The International Services segment primarily consists of secure services operations in South Africa and Australia. 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. 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 |
|  | 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 |  |
Asset Reconciliation 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 |
Geographic Information During each of the years ended December 31, 2022, 2021 and 2020, the Company’s international operations were conducted through (i) the Company’s wholly owned Australian subsidiary, The GEO Group Australia Pty. Ltd., through which the Company has management contracts for four correctional facilities, (ii) the Company's wholly owned subsidiaries, GEO Ravenhall Finance Holdings Pty. Ltd. and GEO Ravenhall Holdings Pty. Ltd. which, together, had a design and construction contract for a facility in Ravenhall, Australia which was completed in November 2017, (iii) the Company’s wholly-owned subsidiary in South Africa, SACM, through which the Company manages one correctional facility, and (iv) the Company’s wholly-owned subsidiary in the United Kingdom, The GEO Group UK Ltd., through which the Company managed the Dungavel House Immigration Removal Centre (GEO transitioned the management contract for Dungavel to the government effective September 30, 2021).
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 |
Sources of Revenue The Company derives most of its revenue from the management of secure facilities through public-private partnerships. The Company also derives revenue from the provision of reentry services and electronic monitoring and evidence-based supervision and treatment programs in the United States, and expansion of new and existing secure facilities, processing centers and reentry centers.
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 Equity in Earnings of Affiliates Equity in earnings of affiliates for 2022, 2021 and 2020 includes the operating results of the Company’s joint ventures in SACS and GEOAmey. These joint ventures are accounted for under the equity method and the Company’s investments in SACS and GEOAmey are presented as a component of other non-current assets in the accompanying Consolidated Balance Sheets. The Company has recorded $2.5 million, $3.6 million and $3.7 million in earnings, net of tax impact, for SACS operations during the years ended December 31, 2022, 2021 and 2020, respectively, which are included in equity in earnings of affiliates, net of income tax provision in the accompanying Consolidated Statements of Operations. As of December 31, 2022 and 2021, the Company’s investment in SACS was $10.2 million and $10.3 million, respectively. The investment is included in other non-current assets in the accompanying Consolidated Balance Sheets. The Company received dividend distributions of $1.9 million and $3.1 million, in 2022 and 2021, respectively, from this unconsolidated joint venture. The Company has recorded $2.2 million, $3.6 million and $5.5 million in earnings, net of tax impact, for GEOAmey’s operations during the years ended December 31, 2022, 2021 and 2020, respectively, which are included in equity in earnings of affiliates, net of income tax provision, in the accompanying Consolidated Statements of Operations. As of December 31, 2022 and 2021, the Company’s investment in GEOAmey was $8.7 million and $10.1 million, respectively, and represents its share of cumulative reported earnings. The Company received dividend distributions of $2.6 million and $5.2 million in 2022 and 2021, respectively, from this unconsolidated joint venture. There were no dividend distributions in 2020. 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 | %
The concentrations above relate to the Company's U.S. Secure Services and its Electronic Monitoring and Supervision segments. Credit risk related to accounts receivable is reflective of the related revenues.

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- 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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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