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Goodwill and Other Intangible Assets (Tables)
 3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Changes in the Company's Goodwill Balances Changes in the Company's goodwill balances from January 1, 2025 to March 31, 2025 are as follows (in thousands):

 

 

 

January 1,
2025

 

 

Foreign Currency
Translation

 

 

March 31, 2025

 

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

 

 

1,192

 

 

 

3

 

 

 

1,195

 

Total Goodwill

 

$

756,001

 

 

$

3

 

 

$

756,004

 

 

 
Schedule of Intangible Assets The Company's intangible assets include facility management contracts and trade names and technology, as follows (in thousands):

 

 

 

March 31, 2025

 

 

December 31, 2024

 

 

 

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

 

 

$

223,767

 

 

$

(144,702

)

 

$

79,065

 

 

$

223,790

 

 

$

(142,414

)

 

$

81,376

 

Trade names

 

Indefinite

 

 

 

45,200

 

 

 

—

 

 

 

45,200

 

 

 

45,200

 

 

 

—

 

 

 

45,200

 

Total acquired intangible assets

 

 

 

 

$

268,967

 

 

$

(144,702

)

 

$

124,265

 

 

$

268,990

 

 

$

(142,414

)

 

$

126,576

 
Estimated Amortization Expense for the Remainder

Estimated amortization expense related to the Company's finite-lived intangible assets for the remainder of 2025 through 2029 and thereafter is as follows (in thousands):

 

Fiscal Year

 

Total
Amortization
Expense

 

Remainder of 2025

 

$

6,901

 

2026

 

 

7,162

 

2027

 

 

6,912

 

2028

 

 

6,854

 

2029

 

 

6,854

 

Thereafter

 

 

44,382

 

 

$

79,065