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Goodwill and Other Intangible Assets (Tables) | 9 Months Ended
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Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Changes in the Company's Goodwill Balances | Changes in the Company's goodwill balances from January 1, 2024 to September 30, 2024 are as follows (in thousands):
|  | January 1, 2024 |  |  | Additions [1] |  |  | Foreign Currency Translation |  |  | September 30, 2024 |
U.S. Secure Services |  | $ | 316,366 |  |  | $ | — |  |  | $ | — |  |  | $ | 316,366 |
Electronic Monitoring and Supervision Services |  |  | 289,570 |  |  |  | — |  |  |  | — |  |  |  | 289,570 |
Reentry Services |  |  | 148,873 |  |  |  | — |  |  |  | — |  |  |  | 148,873 |
International Services |  |  | 390 |  |  |  | 836 |  |  |  | 7 |  |  |  | 1,233 |
Total Goodwill |  | $ | 755,199 |  |  | $ | 836 |  |  | $ | 7 |  |  | $ | 756,042 |
[1] During the nine months ended September 30, 2024, the Company completed an acquisition of an entity that performed health care services located in Australia. The purchase price was approximately AUD 6.0 million, or approximately $3.9 million, based on exchange rates on the date of acquisition subject to certain adjustments. The net assets acquired and operations were not material to our results from operations during the nine months ended September 30, 2024.
Schedule of Intangible Assets | The Company's intangible assets include facility management contracts and trade names and technology, as follows (in thousands):
|  | September 30, 2024 |  |  | December 31, 2023 |
|  | Weighted Average Useful Life (years) |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Facility management contracts |  |  | 16.3 |  |  | $ | 223,790 |  |  | $ | (140,088 | ) |  | $ | 83,702 |  |  | $ | 223,781 |  |  | $ | (133,095 | ) |  | $ | 90,686 |
Trade names |  | Indefinite |  |  |  | 45,200 |  |  |  | — |  |  |  | 45,200 |  |  |  | 45,200 |  |  |  | — |  |  |  | 45,200 |
Total acquired intangible assets |  |  |  |  | $ | 268,990 |  |  | $ | (140,088 | ) |  | $ | 128,902 |  |  | $ | 268,981 |  |  | $ | (133,095 | ) |  | $ | 135,886 |
Estimated Amortization Expense for the Remainder | Estimated amortization expense related to the Company's finite-lived intangible assets for the remainder of 2024 through 2028 and thereafter is as follows (in thousands):
Fiscal Year |  | Total Amortization Expense |
Remainder of 2024 |  | $ | 1,605 |
2025 |  |  | 7,065 |
2026 |  |  | 7,166 |
2027 |  |  | 6,854 |
2028 |  |  | 6,854 |
Thereafter |  |  | 54,158 |
|  | $ | 83,702 |

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