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SEGMENT REPORTING | 12 Months Ended
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Dec. 31, 2013
SEGMENT REPORTING |
16. | SEGMENT REPORTING
As of December 31, 2013, CCA owned and managed 49 correctional and detention facilities, and managed 16 correctional and detention facilities it did not own. In addition, CCA owned four facilities that it leased to third-party operators, one of which is currently vacant. Management views CCA’s operating results in two reportable segments: (1) owned and managed correctional and detention facilities and (2) managed-only correctional and detention facilities. The accounting policies of the reportable segments are the same as those described in Note 2. Owned and managed facilities include the operating results of those facilities placed into service that were owned or controlled via a long-term lease and managed by CCA. Following the Company’s reorganization to begin operating as a REIT effective January 1, 2013, the Company chose to reclassify the financial information provided for segment reporting purposes at two facilities where the property is effectively controlled by the Company under operating lease arrangements. Previously, the Company classified these two facilities controlled under operating leases within the managed-only segment. The Company now reports the financial information associated with these facilities as owned and managed and has reclassified its segment reporting for all periods presented. Managed-only facilities include the operating results of those facilities owned by a third party and managed by CCA. CCA measures the operating performance of each facility within the above two reportable segments, without differentiation, based on facility net operating income. CCA defines facility net operating income as a facility’s operating income or loss from operations before interest, taxes, asset impairments, depreciation, and amortization. Since each of CCA’s facilities within the two reportable segments exhibit similar economic characteristics, provide similar services to governmental agencies, and operate under a similar set of operating procedures and regulatory guidelines, the facilities within the identified segments have been aggregated and reported as one reportable segment. The revenue and facility contribution for the reportable segments and a reconciliation to CCA’s operating income is as follows for the three years ended December 31, 2013, 2012, and 2011 (in thousands):
|  | For the Years Ended December 31, |
|  | 2013 |  |  | 2012 |  |  | 2011 |
Revenue: |  |  |  |  |  |  |  |  |  |  |  |
Owned and managed |  | $ | 1,386,355 |  |  | $ | 1,418,783 |  |  | $ | 1,386,470 |
Managed-only |  |  | 301,454 |  |  |  | 299,599 |  |  |  | 295,916 |
Total management revenue |  |  | 1,687,809 |  |  |  | 1,718,382 |  |  |  | 1,682,386 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |
Owned and managed |  |  | 941,638 |  |  |  | 935,680 |  |  |  | 884,987 |
Managed-only |  |  | 261,903 |  |  |  | 263,678 |  |  |  | 257,362 |
Total operating expenses |  |  | 1,203,541 |  |  |  | 1,199,358 |  |  |  | 1,142,349 |
Facility net operating income |  |  |  |  |  |  |  |  |  |  |  |
Owned and managed |  |  | 444,717 |  |  |  | 483,103 |  |  |  | 501,483 |
Managed-only |  |  | 39,551 |  |  |  | 35,921 |  |  |  | 38,554 |
Total facility net operating income |  |  | 484,268 |  |  |  | 519,024 |  |  |  | 540,037 |
Other revenue (expense): |  |  |  |  |  |  |  |  |  |  |  |
Rental and other revenue |  |  | 6,488 |  |  |  | 5,275 |  |  |  | 6,419 |
Other operating expense |  |  | (16,810 | ) |  |  | (17,693 | ) |  |  | (15,920 | )
General and administrative expense |  |  | (103,590 | ) |  |  | (88,935 | ) |  |  | (91,227 | )
Depreciation and amortization |  |  | (112,692 | ) |  |  | (113,063 | ) |  |  | (107,568 | )
Asset impairments |  |  | (6,513 | ) |  |  | — |  |  |  | — |
Operating income |  | $ | 251,151 |  |  | $ | 304,608 |  |  | $ | 331,741 |
The following table summarizes capital expenditures for the reportable segments for the years ended December 31, 2013, 2012, and 2011 (in thousands):
|  | For the Years Ended December 31, |
|  | 2013 |  |  | 2012 |  |  | 2011 |
Capital expenditures: |  |  |  |  |  |  |  |  |  |  |  |
Owned and managed |  | $ | 96,975 |  |  | $ | 55,222 |  |  | $ | 152,272 |
Managed-only |  |  | 3,719 |  |  |  | 3,507 |  |  |  | 6,642 |
Corporate and other |  |  | 10,852 |  |  |  | 17,685 |  |  |  | 10,905 |
Discontinued operations |  |  | 72 |  |  |  | 532 |  |  |  | 1,563 |
Total capital expenditures |  | $ | 111,618 |  |  | $ | 76,946 |  |  | $ | 171,382 |
The assets for the reportable segments are as follows (in thousands):
|  | December 31, |
|  | 2013 |  |  | 2012 |
Assets: |  |  |  |  |  |  |  |
Owned and managed |  | $ | 2,694,293 |  |  | $ | 2,654,791 |
Managed-only |  |  | 81,551 |  |  |  | 109,572 |
Corporate and other |  |  | 231,566 |  |  |  | 200,760 |
Discontinued operations |  |  | 15 |  |  |  | 9,619 |
Total assets |  | $ | 3,007,425 |  |  | $ | 2,974,742 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
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