Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of Idled Facilities and Their Carrying Values, Excluding Equipment and Other Assets

The following table summarizes the Company’s idled facilities as of December 31, 2023 and their respective carrying values, excluding equipment and other assets that can be easily transferred to other facilities.


						Secure Services		Reentry Services		Total
		Secure Services		Reentry Services		Net Carrying Value		Net Carrying Value		Net Carrying Value
Facility	Year Idled	Design Capacity		Design Capacity		December 31, 2023		December 31, 2023		December 31, 2023
D. Ray James Correctional Facility	2021		1,900		-		49,743		-		49,743
Northlake Correctional Facility	2022		1,800		-		73,937		-		73,937
Rivers Correctional Facility	2021		1,450		-		36,234		-		36,234
Big Spring Correctional Facility	2021		1,732		-		30,186		-		30,186
Flightline Correctional Facility	2021		1,800		-		33,203		-		33,203
McFarland Female Community Reentry Facility	2020		300		-		10,360		-		10,360
Cheyenne Mountain Recovery Center [1]	2020		750		-		17,566		-		17,566
Hector Garza Center	2020		-		139		-		4,469		4,469
Delaney Hall	2023		-		1,200		-		25,368		25,368
Coleman Hall	2017		-		350		-		7,368		7,368
Total			9,732		1,689	$	251,229	$	37,205	$	288,434

[1] This facility is under a contract that is yet to be activated.

Disaggregation of Revenue

The following table disaggregates GEO's revenue by major source and also provides a reconciliation with revenue information disclosed for reportable segments in Note 14 - Business Segments and Geographic Information:


	Year Ended December 31, 2023 (in thousands)
	U.S. Secure Services		Electronic Monitoring and Supervision Services		Reentry Services		International		Total
Owned and Leased: Secure Services	$	1,140,548	$	—	$	—	$	—	$	1,140,548
Owned and Leased: Community-based		—		—		166,987		—		166,987
Managed Only		377,744		—		5,093		193,894		576,731
Electronic Monitoring Services and Other Reentry		—		425,879		103,022		—		528,901
Total Revenues	$	1,518,292	$	425,879	$	275,102	$	193,894	$	2,413,167


	Year Ended December 31, 2022 (in thousands)
	U.S. Secure Services		Electronic Monitoring and Supervision Services		Reentry Services		International		Total
Owned and Leased - Secure Services	$	1,109,923	$	—	$	—	$	—	$	1,109,923
Owned and Leased - Community-based		—		—		155,932		—		155,932
Owned and Leased - Youth Services		—		—		—		—		—
Managed Only		327,908		—		6,913		187,200		522,021
Electronic Monitoring Services and Other Reentry		—		496,268		92,583		—		588,851
Total Revenues	$	1,437,831	$	496,268	$	255,428	$	187,200	$	2,376,727


	Year Ended December 31, 2021 (in thousands)
	U.S Secure Services		Electronic Monitoring and Supervision Services		Reentry Services		International		Total
Owned and Leased - Secure Services	$	1,127,688	$	—	$	—	$	—	$	1,127,688
Owned and Leased - Community-based		—		—		150,888		—		150,888
Owned and Leased - Youth Services		—		—		33,920		—		33,920
Managed Only		361,248		—		3,977		213,849		579,074
Electronic Monitoring Services and Other Reentry		—		278,934		86,108		—		365,042
Total Revenues	$	1,488,936	$	278,934	$	274,893	$	213,849	$	2,256,612

Fair value of stock-based awards

The fair value of stock-based option awards was estimated using the Black-Scholes option-pricing model with the following weighted average assumptions for options awarded during years 2023, 2022 and 2021:


	2023			2022			2021
Risk free interest rates		4.27	%		1.56	%		0.24	%
Expected term	4-5 years			4-5 years			4-5 years
Expected volatility		52	%		48	%		43	%
Expected dividend rate [1]		—			—			13.30	%

[1] As previously discussed, the Board elected to terminate the Company’s REIT election and discontinue its quarterly dividend. The assumptions above were used to determine the fair value of stock-based option awards granted prior to the Board’s suspension and discontinuation of quarterly dividends.