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Debt (Credit Agreement) (Details) - USD ($) |  | 6 Months Ended |
--- | --- | --- | ---
Apr. 18, 2024 | Jun. 30, 2024 | Dec. 31, 2023
Senior Notes |  |  |
Line of Credit Facility [Line Items] |  |  |
Debt instrument, face amount | $ 1,275,000,000 |  |
Letter of Credit |  |  |
Line of Credit Facility [Line Items] |  |  |
Long-term debt |  | $ 74,200,000 |
Credit Agreement |  |  |
Line of Credit Facility [Line Items] |  |  |
Debt instrument, face amount | $ 450,000,000 |  |
Revolver |  | 40,000,000 |
Long-term debt |  | $ 472,931,000 |
Credit Agreement | Term Loan Facility |  |  |
Line of Credit Facility [Line Items] |  |  |
Debt instrument, amortization rate | 1.25% |  |
Percentage of debt principal amount required to be prepaid before first anniversary | 2.00% |  |
Percentage of debt principal amount required to be prepaid before second anniversary | 1.00% |  |
Credit Agreement | Revolving Credit Facility |  |  |
Line of Credit Facility [Line Items] |  |  |
Debt instrument, face amount | $ 310,000,000 |  |
Debt instrument, interest rate terms |  | (i) Alternate Base Rate (as defined below) plus an applicable margin or (ii) Term SOFR (as defined below) (subject to a 0.75% floor) plus an applicable margin, which applicable margin shall, in either case, vary depending on GEO’s total leverage ratio as of the most recent determination date, and the Credit Facility Borrowers will pay a fee in respect of the unused revolving commitments under the Revolving Credit Facility at a per annum rate ranging from 0.25% to 0.50%, in each case depending on GEO’s total leverage ratio as of the most recent determination date, where “Alternate Base Rate” means, for any day, a rate per annum equal to the greatest of (a) the Prime Rate in effect on such day, (b) the Federal Funds Rate for such day plus 1/2 of 1% and (c) Term SOFR (as defined below) for a one-month tenor in effect on such day, plus 1%, and “Term SOFR” means the Term Secured Overnight Financing Rate. The loans under the Term Loan Facility (the “Term Loans”) bear interest at a per annum rate equal to either (i) Alternate Base Rate plus an applicable margin for Alternate Base Rate Loans and (ii) Term SOFR (subject to a 0.75% floor) plus an applicable margin for Term SOFR Loans. |
Debt instrument basis spread on variable rate | 0.50% |  |
Debt instrument, maturity date | Apr. 15, 2029 |  |
Number of days prior to stated maturity days for springing maturity date | 91 days |  |
Maximum value of principal amount outstanding on maturity date | $ 100,000,000 |  |
Credit Agreement | Revolving Credit Facility | Senior Notes |  |  |
Line of Credit Facility [Line Items] |  |  |
Number of days prior to stated maturity days for springing maturity date | 91 days |  |
Maximum value of principal amount outstanding on maturity date | $ 100,000,000 |  |
Credit Agreement | Revolving Credit Facility | Minimum |  |  |
Line of Credit Facility [Line Items] |  |  |
Unused revolving commitments fee, percentage | 0.25% |  |
Credit Agreement | Revolving Credit Facility | Maximum |  |  |
Line of Credit Facility [Line Items] |  |  |
Unused revolving commitments fee, percentage | 0.50% |  |
Credit Agreement | Revolving Credit Facility | SOFR |  |  |
Line of Credit Facility [Line Items] |  |  |
Variable rate, floor | 0.75% |  |
Debt instrument basis spread on variable rate | 1.00% |  |
Credit Agreement | Letter of Credit |  |  |
Line of Credit Facility [Line Items] |  |  |
Debt instrument, face amount | $ 175,000,000 |  |
Revolver |  |  |
Line of Credit Facility [Line Items] |  |  |
Revolver |  | $ 40,000,000 |
Additional Revolver |  |  |
Line of Credit Facility [Line Items] |  |  |
Borrowing capacity remaining |  | $ 195,800,000 |
Exchange Credit Agreement |  |  |
Line of Credit Facility [Line Items] |  |  |
Revolver |  |  | $ 0
Long-term debt |  |  | $ 903,569,000
Exchange Credit Agreement | Revolving Credit Facility |  |  |
Line of Credit Facility [Line Items] |  |  |
Weighted average interest rates on outstanding borrowings |  | 9.46% |
6.50% Exchangeable Senior Notes due 2026 |  |  |
Line of Credit Facility [Line Items] |  |  |
Stated interest rate |  | 6.50% | 6.50%
6.50% Exchangeable Senior Notes due 2026 | Senior Notes |  |  |
Line of Credit Facility [Line Items] |  |  |
Stated interest rate |  | 6.50% |
Long-term debt |  | $ 600,000 | $ 225,405,000

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- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(16)(a)(2)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1 + Details
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