XML 39 R31.htm IDEA: XBRL DOCUMENT

Shareholders' Equity (Tables)

6 Months Ended

Jun. 30, 2025

Equity [Abstract]

Changes in Shareholders' Equity that are Attributable to the Company's Shareholders and to Noncontrolling Interests

The following tables present the changes in shareholders’ equity that are attributable to the Company’s shareholders and to noncontrolling interests for the three and six months ended June 30, 2025 and 2024 (in thousands):


		Common shares								Additional Paid-In								Accumulated Other Comprehensive				Treasury shares								Noncontrolling				Total Shareholders'
		Shares				Amount				Capital				Retained Earnings				Loss				Shares				Amount				Interests				Equity
For the Three Months Ended June 30, 2025
Balance, April 1, 2025			141,205			$	1,412			$	1,302,902			$	59,438			$	(20,654	)			—			$	—			$	(1,550	)		$	1,341,548
Proceeds from exercise of stock options			65				1				862				—				—				—				—				—				863
Stock-based compensation expense			—				—				5,506				—				—				—				—				—				5,506
Restricted stock canceled			(27	)			—				—				—				—				—				—				—				—
Issuance of common stock - ESPP			2				—				47								—				—				—				—				47
Net income			—				—				—				29,108				—				—				—				(34	)			29,074
Other comprehensive income (loss)			—				—				—				—				4,400				—				—				(18	)			4,382
Balance, June 30, 2025			141,245			$	1,413			$	1,309,317			$	88,546			$	(16,254	)			—			$	—			$	(1,602	)		$	1,381,420


		Common shares								Additional Paid-In								Accumulated Other Comprehensive				Treasury shares								Noncontrolling				Total Shareholders'
		Shares				Amount				Capital				Retained Earnings (Accumulated Deficit)				Loss				Shares				Amount				Interests				Equity
For the Three Months Ended June 30, 2024
Balance, April 1, 2024			126,457			$	1,307			$	1,297,998			$	125,757			$	(19,815	)			4,210			$	(95,175	)		$	(1,451	)		$	1,308,621
Proceeds from exercise of stock options			74				1				137				—				—				—				—				—				138
Stock-based compensation expense			—				—				3,132				—				—				—				—				—				3,132
Restricted stock granted			625				6				(6	)			—				—				—				—				—				-
Restricted stock canceled			(20	)			—								—				—				—				—				—				-
Issuance of common shares [2]			8,205				82				(1,695	)			—				—				—				—				—				(1,613	)
Reissuance of treasury shares [2]			4,210				—				—				(95,175	)			—				(4,210	)			95,175								-
Shares withheld for net settlements of share- based awards [1]			(3	)			—				(51	)			—				—				—				—				—				(51	)
Issuance of common stock - ESPP			3				—				43				—				—				—				—				—				43
Net loss			—				—				—				(32,513	)			—				—				—				(50	)			(32,563	)
Other comprehensive income (loss)			—				—				—				—				2,845				—				—				(15	)			2,830
Balance, June 30, 2024			139,551			$	1,396			$	1,299,558			$	(1,931	)		$	(16,970	)			—			$	—			$	(1,516	)		$	1,280,537


		Common shares								Additional Paid-In								Accumulated Other Comprehensive				Treasury shares								Noncontrolling				Total Shareholders'
		Shares				Amount				Capital				Retained Earnings				Loss				Shares				Amount				Interests				Equity
For the Six Months Ended June 30, 2025
Balance January 1, 2025			140,181			$	1,402			$	1,315,256			$	39,880			$	(21,602	)			—			$	—			$	(1,522	)		$	1,333,414
Proceeds from exercise of stock options			274				3				4,166				—				—				—				—				—				4,169
Stock-based compensation expense			—				—				11,994				—				—				—				—				—				11,994
Restricted stock granted			1,827				18				(18	)			—				—				—				—				—				—
Restricted stock canceled			(134	)			(1	)			1				—				—				—				—				—				—
Shares withheld for net settlements of share- based awards [1]			(906	)			(9	)			(22,168	)			—				—				—				—				—				(22,177	)
Issuance of common stock - ESPP			3				—				86				—				—				—				—				—				86
Net income			—				—				—				48,666				—				—				—				(50	)			48,616
Other comprehensive income (loss)			—				—				—				—				5,348				—				—				(30	)			5,318
Balance, June 30, 2025			141,245			$	1,413			$	1,309,317			$	88,546			$	(16,254	)			—			$	-			$	(1,602	)		$	1,381,420


		Common shares								Additional Paid-In								Accumulated Other Comprehensive				Treasury shares								Noncontrolling				Total Shareholders'
		Shares				Amount				Capital				Retained Earnings (Accumulated Deficit)				Loss				Shares				Amount				Interests				Equity
For the Six Months Ended June 30, 2024
Balance, January 1, 2024			126,087			$	1,303			$	1,299,193			$	103,089			$	(16,642	)			4,210			$	(95,175	)		$	(1,454	)		$	1,290,314
Proceeds from exercise of stock options			147				1				666				—				—				—				—				—				667
Stock-based compensation expense			—				—				8,788				—				—				—				—				—				8,788
Restricted stock granted			1,554				16				(16	)			—				—				—				—				—				-
Restricted stock canceled			(40	)			—				—				—				—				—				—				—				-
Shares withheld for net settlements of share- based awards [1]			(618	)			(6	)			(7,457	)			—				—				—				—				—				(7,463	)
Issuance of common stock - ESPP			6				—				79				—				—				—				—				—				79
Reissuance of treasury shares [2]			4,210				—				—				(95,175	)			—				(4,210	)			95,175				—				-
Issuance of common shares [2]			8,205				82				(1,695	)			—				—				—				—				—				(1,613	)
Net loss			—				—				—				(9,845	)			—				—				—				(59	)			(9,904	)
Other comprehensive income (loss)			—				—				—				—				(328	)			—				—				(3	)			(331	)
Balance, June 30, 2024			139,551			$	1,396			$	1,299,558			$	(1,931	)		$	(16,970	)			—			$	-			$	(1,516	)		$	1,280,537

[1] The Company withheld shares through net settlements to satisfy statutory tax withholding requirements upon the vesting of shares

of restricted stock held by employees.

[2] During the second quarter of 2024, the Company retired $229.4 million in aggregate principal amount of its outstanding 6.50%

Exchangeable Senior Notes in private exchange transactions for an exchange value of approximately $410 million. The consideration

consisted of cash of $229.4 million and 12,414,455 shares of GEO common stock. Of the total amount of shares issued, the Company

issued 4,209,847 shares that were previously held in treasury. Refer to Note 10 - Debt for further information.

Schedule of Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss attributable to GEO within shareholders' equity are as follows:


		Six Months Ended June 30, 2025
		(In thousands)
		Foreign currency translation adjustments, net of tax (1)				Change in fair value of derivatives, net of tax				Change in marketable securities, net of tax				Pension adjustments, net of tax				Total
Balance, January 1, 2025		$	(26,939	)		$	3,833			$	(15	)		$	1,519			$	(21,602	)
Current-period other comprehensive income (loss)			6,051				(1,015	)			410				(98	)			5,348
Balance, June 30, 2025		$	(20,888	)		$	2,818			$	395			$	1,421			$	(16,254	)


		Six Months Ended June 30, 2024
		(In thousands)
		Foreign currency translation adjustments, net of tax (1)				Change in fair value of derivatives, net of tax				Pension adjustments, net of tax				Total
Balance, January 1, 2024		$	(19,755	)		$	3,041			$	72			$	(16,642	)
Current-period other comprehensive income (loss)			(1,167	)			815				24				(328	)
Balance, June 30, 2024		$	(20,922	)		$	3,856			$	96			$	(16,970	)

(1)

The foreign currency translation related to noncontrolling interests was not significant at June 30, 2025 or 2024.