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CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF CORECIVIC AND SUBSIDIARIES (Tables) | 12 Months Ended
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Dec. 31, 2016
CONDENSED CONSOLIDATING BALANCE SHEET | CONDENSED CONSOLIDATING BALANCE SHEET As of December 31, 2016 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 11,378 |  |  | $ | 26,333 |  |  | $ | — |  |  | $ | 37,711 |
Accounts receivable, net of allowance |  |  | 237,495 |  |  |  | 270,952 |  |  |  | (278,562 | ) |  |  | 229,885 |
Prepaid expenses and other current assets |  |  | 7,582 |  |  |  | 30,123 |  |  |  | (6,477 | ) |  |  | 31,228 |
Total current assets |  |  | 256,455 |  |  |  | 327,408 |  |  |  | (285,039 | ) |  |  | 298,824 |
Property and equipment, net |  |  | 2,493,025 |  |  |  | 344,632 |  |  |  | — |  |  |  | 2,837,657 |
Restricted cash |  |  | 218 |  |  |  | — |  |  |  | — |  |  |  | 218 |
Goodwill |  |  | 23,231 |  |  |  | 15,155 |  |  |  | — |  |  |  | 38,386 |
Non-current deferred tax assets |  |  | — |  |  |  | 14,056 |  |  |  | (321 | ) |  |  | 13,735 |
Other assets |  |  | 339,173 |  |  |  | 57,873 |  |  |  | (314,262 | ) |  |  | 82,784 |
Total assets |  | $ | 3,112,102 |  |  | $ | 759,124 |  |  | $ | (599,622 | ) |  | $ | 3,271,604 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued expenses |  | $ | 203,074 |  |  | $ | 342,072 |  |  | $ | (285,039 | ) |  | $ | 260,107 |
Income taxes payable |  |  | 1,850 |  |  |  | 236 |  |  |  | — |  |  |  | 2,086 |
Current portion of long-term debt |  |  | 10,000 |  |  |  | — |  |  |  | — |  |  |  | 10,000 |
Total current liabilities |  |  | 214,924 |  |  |  | 342,308 |  |  |  | (285,039 | ) |  |  | 272,193 |
Long-term debt, net |  |  | 1,436,186 |  |  |  | 113,983 |  |  |  | (115,000 | ) |  |  | 1,435,169 |
Non-current deferred tax liabilities |  |  | 321 |  |  |  | — |  |  |  | (321 | ) |  |  | — |
Deferred revenue |  |  | — |  |  |  | 53,437 |  |  |  | — |  |  |  | 53,437 |
Other liabilities |  |  | 1,708 |  |  |  | 50,134 |  |  |  | — |  |  |  | 51,842 |
Total liabilities |  |  | 1,653,139 |  |  |  | 559,862 |  |  |  | (400,360 | ) |  |  | 1,812,641 |
Total stockholders’ equity |  |  | 1,458,963 |  |  |  | 199,262 |  |  |  | (199,262 | ) |  |  | 1,458,963 |
Total liabilities and stockholders’ equity |  | $ | 3,112,102 |  |  | $ | 759,124 |  |  | $ | (599,622 | ) |  | $ | 3,271,604 |
CONDENSED CONSOLIDATING BALANCE SHEET As of December 31, 2015 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 15,666 |  |  | $ | 49,625 |  |  | $ | — |  |  | $ | 65,291 |
Restricted cash |  |  | 637 |  |  |  | 240 |  |  |  | — |  |  |  | 877 |
Accounts receivable, net of allowance |  |  | 300,632 |  |  |  | 159,286 |  |  |  | (225,462 | ) |  |  | 234,456 |
Prepaid expenses and other current assets |  |  | 3,760 |  |  |  | 43,706 |  |  |  | (6,032 | ) |  |  | 41,434 |
Total current assets |  |  | 320,695 |  |  |  | 252,857 |  |  |  | (231,494 | ) |  |  | 342,058 |
Property and equipment, net |  |  | 2,526,278 |  |  |  | 356,782 |  |  |  | — |  |  |  | 2,883,060 |
Restricted cash |  |  | 131 |  |  |  | — |  |  |  | — |  |  |  | 131 |
Investment in direct financing lease |  |  | 684 |  |  |  | — |  |  |  | — |  |  |  | 684 |
Goodwill |  |  | 20,402 |  |  |  | 15,155 |  |  |  | — |  |  |  | 35,557 |
Non-current deferred tax assets |  |  | — |  |  |  | 10,217 |  |  |  | (393 | ) |  |  | 9,824 |
Other assets |  |  | 241,510 |  |  |  | 57,120 |  |  |  | (213,926 | ) |  |  | 84,704 |
Total assets |  | $ | 3,109,700 |  |  | $ | 692,131 |  |  | $ | (445,813 | ) |  | $ | 3,356,018 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued expenses |  | $ | 191,600 |  |  | $ | 357,569 |  |  | $ | (231,494 | ) |  | $ | 317,675 |
Income taxes payable |  |  | — |  |  |  | 1,920 |  |  |  | — |  |  |  | 1,920 |
Current portion of long-term debt |  |  | 5,000 |  |  |  | — |  |  |  | — |  |  |  | 5,000 |
Total current liabilities |  |  | 196,600 |  |  |  | 359,489 |  |  |  | (231,494 | ) |  |  | 324,595 |
Long-term debt, net |  |  | 1,448,316 |  |  |  | 113,761 |  |  |  | (115,000 | ) |  |  | 1,447,077 |
Non-current deferred tax liabilities |  |  | 393 |  |  |  | — |  |  |  | (393 | ) |  |  | — |
Deferred revenue |  |  | — |  |  |  | 63,289 |  |  |  | — |  |  |  | 63,289 |
Other liabilities |  |  | 1,643 |  |  |  | 56,666 |  |  |  | — |  |  |  | 58,309 |
Total liabilities |  |  | 1,646,952 |  |  |  | 593,205 |  |  |  | (346,887 | ) |  |  | 1,893,270 |
Total stockholders’ equity |  |  | 1,462,748 |  |  |  | 98,926 |  |  |  | (98,926 | ) |  |  | 1,462,748 |
Total liabilities and stockholders’ equity |  | $ | 3,109,700 |  |  | $ | 692,131 |  |  | $ | (445,813 | ) |  | $ | 3,356,018 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS | CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the year ended December 31, 2016 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
REVENUES |  | $ | 1,182,765 |  |  | $ | 1,542,231 |  |  | $ | (875,211 | ) |  | $ | 1,849,785 |
EXPENSES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating |  |  | 904,750 |  |  |  | 1,246,047 |  |  |  | (875,211 | ) |  |  | 1,275,586 |
General and administrative |  |  | 35,440 |  |  |  | 71,587 |  |  |  | — |  |  |  | 107,027 |
Depreciation and amortization |  |  | 84,842 |  |  |  | 81,904 |  |  |  | — |  |  |  | 166,746 |
Restructuring charges |  |  | 197 |  |  |  | 3,813 |  |  |  | — |  |  |  | 4,010 |
|  |  | 1,025,229 |  |  |  | 1,403,351 |  |  |  | (875,211 | ) |  |  | 1,553,369 |
OPERATING INCOME |  |  | 157,536 |  |  |  | 138,880 |  |  |  | — |  |  |  | 296,416 |
OTHER (INCOME) EXPENSE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  | 51,928 |  |  |  | 15,827 |  |  |  | — |  |  |  | 67,755 |
Other (income) expense |  |  | 995 |  |  |  | (548 | ) |  |  | 42 |  |  |  | 489 |
|  |  | 52,923 |  |  |  | 15,279 |  |  |  | 42 |  |  |  | 68,244 |
INCOME BEFORE INCOME TAXES |  |  | 104,613 |  |  |  | 123,601 |  |  |  | (42 | ) |  |  | 228,172 |
Income tax expense |  |  | (1,896 | ) |  |  | (6,357 | ) |  |  | — |  |  |  | (8,253 | )
INCOME BEFORE EQUITY IN SUBSIDIARIES |  |  | 102,717 |  |  |  | 117,244 |  |  |  | (42 | ) |  |  | 219,919 |
Income from equity in subsidiaries |  |  | 117,202 |  |  |  | — |  |  |  | (117,202 | ) |  |  | — |
NET INCOME |  | $ | 219,919 |  |  | $ | 117,244 |  |  | $ | (117,244 | ) |  | $ | 219,919 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the year ended December 31, 2015 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
REVENUES |  | $ | 1,184,878 |  |  | $ | 1,469,105 |  |  | $ | (860,896 | ) |  | $ | 1,793,087 |
EXPENSES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating |  |  | 889,203 |  |  |  | 1,227,821 |  |  |  | (860,896 | ) |  |  | 1,256,128 |
General and administrative |  |  | 33,248 |  |  |  | 70,688 |  |  |  | — |  |  |  | 103,936 |
Depreciation and amortization |  |  | 82,745 |  |  |  | 68,769 |  |  |  | — |  |  |  | 151,514 |
Asset impairments |  |  | — |  |  |  | 955 |  |  |  | — |  |  |  | 955 |
|  |  | 1,005,196 |  |  |  | 1,368,233 |  |  |  | (860,896 | ) |  |  | 1,512,533 |
OPERATING INCOME |  |  | 179,682 |  |  |  | 100,872 |  |  |  | — |  |  |  | 280,554 |
OTHER (INCOME) EXPENSE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  | 35,919 |  |  |  | 13,777 |  |  |  | — |  |  |  | 49,696 |
Expenses associated with debt refinancing transactions |  |  | 701 |  |  |  | — |  |  |  | — |  |  |  | 701 |
Other (income) expense |  |  | 232 |  |  |  | (414 | ) |  |  | 124 |  |  |  | (58 | )
|  |  | 36,852 |  |  |  | 13,363 |  |  |  | 124 |  |  |  | 50,339 |
INCOME BEFORE INCOME TAXES |  |  | 142,830 |  |  |  | 87,509 |  |  |  | (124 | ) |  |  | 230,215 |
Income tax expense |  |  | (1,541 | ) |  |  | (6,820 | ) |  |  | — |  |  |  | (8,361 | )
INCOME BEFORE EQUITY IN SUBSIDIARIES |  |  | 141,289 |  |  |  | 80,689 |  |  |  | (124 | ) |  |  | 221,854 |
Income from equity in subsidiaries |  |  | 80,565 |  |  |  | — |  |  |  | (80,565 | ) |  |  | — |
NET INCOME |  | $ | 221,854 |  |  | $ | 80,689 |  |  | $ | (80,689 | ) |  | $ | 221,854 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the year ended December 31, 2014 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments and Other |  |  | Total Consolidated Amounts |
REVENUES |  | $ | 1,250,199 |  |  | $ | 1,268,654 |  |  | $ | (871,986 | ) |  | $ | 1,646,867 |
EXPENSES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating |  |  | 896,470 |  |  |  | 1,131,651 |  |  |  | (871,986 | ) |  |  | 1,156,135 |
General and administrative |  |  | 33,508 |  |  |  | 72,921 |  |  |  | — |  |  |  | 106,429 |
Depreciation and amortization |  |  | 80,820 |  |  |  | 33,105 |  |  |  | — |  |  |  | 113,925 |
Asset impairments |  |  | 29,915 |  |  |  | 167 |  |  |  | — |  |  |  | 30,082 |
|  |  | 1,040,713 |  |  |  | 1,237,844 |  |  |  | (871,986 | ) |  |  | 1,406,571 |
OPERATING INCOME |  |  | 209,486 |  |  |  | 30,810 |  |  |  | — |  |  |  | 240,296 |
OTHER (INCOME) EXPENSE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  | 35,138 |  |  |  | 4,397 |  |  |  | — |  |  |  | 39,535 |
Other (income) expense |  |  | 302 |  |  |  | (786 | ) |  |  | (720 | ) |  |  | (1,204 | )
|  |  | 35,440 |  |  |  | 3,611 |  |  |  | (720 | ) |  |  | 38,331 |
INCOME BEFORE INCOME TAXES |  |  | 174,046 |  |  |  | 27,199 |  |  |  | 720 |  |  |  | 201,965 |
Income tax expense |  |  | (552 | ) |  |  | (6,391 | ) |  |  | — |  |  |  | (6,943 | )
INCOME BEFORE EQUITY IN SUBSIDIARIES |  |  | 173,494 |  |  |  | 20,808 |  |  |  | 720 |  |  |  | 195,022 |
Income from equity in subsidiaries |  |  | 21,528 |  |  |  | — |  |  |  | (21,528 | ) |  |  | — |
NET INCOME |  | $ | 195,022 |  |  | $ | 20,808 |  |  | $ | (20,808 | ) |  | $ | 195,022 |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the year ended December 31, 2016 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments And Other |  |  | Total Consolidated Amounts |
Net cash provided by operating activities |  | $ | 295,366 |  |  | $ | 80,007 |  |  | $ | — |  |  | $ | 375,373 |
Net cash used in investing activities |  |  | (19,317 | ) |  |  | (69,571 | ) |  |  | (33,300 | ) |  |  | (122,188 | )
Net cash provided by (used in) financing activities |  |  | (280,337 | ) |  |  | (33,728 | ) |  |  | 33,300 |  |  |  | (280,765 | )
Net decrease in cash and cash equivalents |  |  | (4,288 | ) |  |  | (23,292 | ) |  |  | — |  |  |  | (27,580 | )
CASH AND CASH EQUIVALENTS, beginning of year |  |  | 15,666 |  |  |  | 49,625 |  |  |  | — |  |  |  | 65,291 |
CASH AND CASH EQUIVALENTS, end of year |  | $ | 11,378 |  |  | $ | 26,333 |  |  | $ | — |  |  | $ | 37,711 |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the year ended December 31, 2015 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments And Other |  |  | Total Consolidated Amounts |
Net cash provided by operating activities |  | $ | 102,371 |  |  | $ | 297,427 |  |  | $ | — |  |  | $ | 399,798 |
Net cash used in investing activities |  |  | (93,891 | ) |  |  | (212,215 | ) |  |  | (103,175 | ) |  |  | (409,281 | )
Net cash provided by (used in) financing activities |  |  | (5,151 | ) |  |  | (97,643 | ) |  |  | 103,175 |  |  |  | 381 |
Net (decrease) increase in cash and cash equivalents |  |  | 3,329 |  |  |  | (12,431 | ) |  |  | — |  |  |  | (9,102 | )
CASH AND CASH EQUIVALENTS, beginning of year |  |  | 12,337 |  |  |  | 62,056 |  |  |  | — |  |  |  | 74,393 |
CASH AND CASH EQUIVALENTS, end of year |  | $ | 15,666 |  |  | $ | 49,625 |  |  | $ | — |  |  | $ | 65,291 |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the year ended December 31, 2014 (in thousands)
|  | Parent |  |  | Combined Subsidiary Guarantors |  |  | Consolidating Adjustments And Other |  |  | Total Consolidated Amounts |
Net cash provided by operating activities |  | $ | 296,087 |  |  | $ | 127,494 |  |  | $ | — |  |  | $ | 423,581 |
Net cash used in investing activities |  |  | (73,404 | ) |  |  | (102,337 | ) |  |  | (21,146 | ) |  |  | (196,887 | )
Net cash provided by (used in) financing activities |  |  | (241,993 | ) |  |  | (9,373 | ) |  |  | 21,146 |  |  |  | (230,220 | )
Net (decrease) increase in cash and cash equivalents |  |  | (19,310 | ) |  |  | 15,784 |  |  |  | — |  |  |  | (3,526 | )
CASH AND CASH EQUIVALENTS, beginning of year |  |  | 31,647 |  |  |  | 46,272 |  |  |  | — |  |  |  | 77,919 |
CASH AND CASH EQUIVALENTS, end of year |  | $ | 12,337 |  |  | $ | 62,056 |  |  | $ | — |  |  | $ | 74,393 |

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