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Business Segments and Geographic Information (Tables)

12 Months Ended

Dec. 31, 2023

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. The accounting policies of the segments are the same as those described in the summary of significant accounting policies.

Fiscal Year		2023				2022				2021
Revenues:
U.S. Secure Services		$	1,518,292			$	1,437,831			$	1,488,936
Electronic Monitoring and Supervision Services			425,879				496,268				278,934
Reentry Services			275,102				255,428				274,893
International Services			193,894				187,200				213,849
Total revenues		$	2,413,167			$	2,376,727			$	2,256,612
Capital Expenditures:
U.S. Secure Services		$	48,270			$	52,613			$	23,780
Electronic Monitoring and Supervision Services			17,434				31,354				29,504
Reentry Services			4,403				3,181				14,675
International Services			2,895				2,878				1,435
Total capital expenditures		$	73,002			$	90,026			$	69,394
Depreciation and amortization:
U.S. Secure Services		$	78,917			$	80,600			$	83,721
Electronic Monitoring and Supervision Services			28,053				31,838				30,422
Reentry Services			16,588				18,416				18,773
International Services			2,226				2,071				2,261
Total depreciation and amortization		$	125,784			$	132,925			$	135,177
Operating Income:
U.S. Secure Services		$	269,989			$	280,818			$	292,925
Electronic Monitoring and Supervision Services			212,903				238,194				127,070
Reentry Services			48,735				42,923				50,128
International Services			11,528				18,982				22,266
Operating income from segments		$	543,155			$	580,917			$	492,389
General and Administrative Expenses			(190,766	)			(196,972	)			(204,306	)
Total operating income		$	352,389			$	383,945			$	288,083

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, 2023, 2022 and 2021, respectively.

Fiscal Year Ended		2023				2022				2021
		(In thousands)
Operating income from segments		$	543,155			$	580,917			$	492,389
Unallocated amounts:
General and administrative expense			(190,766	)			(196,972	)			(204,306	)
Net interest expense			(210,500	)			(148,562	)			(105,453	)
Gain (loss) on extinguishment of debt			(8,532	)			(37,895	)			4,693
Net gain on disposition of assets			4,691				32,332				5,499
Income before income taxes and equity in earnings of affiliates		$	138,048			$	229,820			$	192,822

Geographical Information

		2023				2022
		(In thousands)
Segment assets:
U.S. Secure Services		$	2,390,803			$	2,371,146
Electronic Monitoring and Supervision Services			511,984				536,291
Reentry Services			478,124				572,154
International Services			77,005				66,023
Total segment assets		$	3,457,916			$	3,545,614

Fiscal Year		2023				2022				2021
		(In thousands)
Revenues:
U.S. operations		$	2,219,400			$	2,189,527			$	2,043,157
Australia operations			177,653				168,225				186,980
South African operations			16,114				18,975				19,527
United Kingdom operations			—				—				6,948
Total revenues		$	2,413,167			$	2,376,727			$	2,256,612
Property and Equipment, net:
U.S. operations		$	1,933,460			$	1,991,968			$	2,026,252
Australia operations			10,700				9,961				11,491
South African operations			118				92				102
Total Property and Equipment, net		$	1,944,278			$	2,002,021			$	2,037,845

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, 2023 and 2022, respectively.

		2023				2022
		(In thousands)
Reportable segment assets		$	3,457,916			$	3,545,614
Cash			93,971				95,073
Deferred income tax assets			8,551				8,005
Restricted cash and investments, current and non-current			135,968				111,691
Total assets		$	3,696,406			$	3,760,383

Sources of Revenue

Fiscal Year		2023				2022
		(In thousands)
Revenues:
Secure Services [1]		$	1,712,186			$	1,625,031
Electronic Monitoring and Supervision Services			425,879				496,268
Reentry Services			275,102				255,428
Total revenues		$	2,413,167			$	2,376,727

[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		2023				2022				2021
Various agencies of the U.S Federal Government:			63	%			64	%			58	%

Concentration of credit risk related to the major customer above for accounts receivable is as follows:

Customer		2023				2022
Various agencies of the U.S Federal Government:			54	%			60	%

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