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SEGMENT REPORTING | 6 Months Ended
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Jun. 30, 2021
SEGMENT REPORTING |
10. | SEGMENT REPORTING
As of June 30, 2021, CoreCivic operated 47 correctional and detention facilities, 42 of which the Company owned. In addition, CoreCivic owned and operated 26 residential reentry centers and owned 10 properties for lease to third parties. Management views CoreCivic's operating results in three operating segments, CoreCivic Safety, CoreCivic Community, and CoreCivic Properties. CoreCivic Safety includes the operating results of those correctional and detention facilities placed into service that were owned, or controlled via a long-term lease, and managed by CoreCivic, as well as those correctional and detention facilities owned by a third party and managed by CoreCivic. CoreCivic Safety also includes the operating results of TransCor America, LLC, a subsidiary of the Company that provides transportation services to governmental agencies. CoreCivic Community includes the operating results of those residential reentry centers placed into service that were owned, or controlled via a long-term lease, and managed by CoreCivic. CoreCivic Community also includes the operating results of the Company's electronic monitoring and case management services. CoreCivic Properties includes the operating results of those properties leased to third parties. The operating performance of the three segments can be measured based on their net operating income. CoreCivic defines facility net operating income as a facility's revenues less operating expenses. The revenue and facility net operating income for each of the three segments and a reconciliation to CoreCivic's income before income taxes is as follows for the three and six months ended June 30, 2021 and 2020 (in thousands):
|  | For the Three Months Ended June 30, |  |  | For the Six Months Ended June 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Revenue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Safety |  | $ | 419,880 |  |  | $ | 424,117 |  |  | $ | 829,649 |  |  | $ | 861,882 |
Community |  |  | 24,929 |  |  |  | 26,004 |  |  |  | 48,587 |  |  |  | 56,603 |
Properties |  |  | 19,732 |  |  |  | 22,483 |  |  |  | 40,987 |  |  |  | 45,162 |
Total segment revenue |  |  | 464,541 |  |  |  | 472,604 |  |  |  | 919,223 |  |  |  | 963,647 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Safety |  |  | 307,280 |  |  |  | 323,739 |  |  |  | 612,707 |  |  |  | 654,476 |
Community |  |  | 20,024 |  |  |  | 22,201 |  |  |  | 41,124 |  |  |  | 46,650 |
Properties |  |  | 5,668 |  |  |  | 6,906 |  |  |  | 11,942 |  |  |  | 13,860 |
Total segment operating expenses |  |  | 332,972 |  |  |  | 352,846 |  |  |  | 665,773 |  |  |  | 714,986 |
Facility net operating income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Safety |  |  | 112,600 |  |  |  | 100,378 |  |  |  | 216,942 |  |  |  | 207,406 |
Community |  |  | 4,905 |  |  |  | 3,803 |  |  |  | 7,463 |  |  |  | 9,953 |
Properties |  |  | 14,064 |  |  |  | 15,577 |  |  |  | 29,045 |  |  |  | 31,302 |
Total facility net operating income |  |  | 131,569 |  |  |  | 119,758 |  |  |  | 253,450 |  |  |  | 248,661 |
Other revenue (expense): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other revenue |  |  | 30 |  |  |  | 37 |  |  |  | 66 |  |  |  | 95 |
Other operating expense |  |  | (98 | ) |  |  | (81 | ) |  |  | (181 | ) |  |  | (256 | )
General and administrative |  |  | (33,228 | ) |  |  | (30,145 | ) |  |  | (62,758 | ) |  |  | (61,424 | )
Depreciation and amortization |  |  | (34,084 | ) |  |  | (38,619 | ) |  |  | (66,796 | ) |  |  | (76,571 | )
Shareholder litigation expense |  |  | (2,550 | ) |  |  | — |  |  |  | (54,295 | ) |  |  | — |
Asset impairments |  |  | (2,866 | ) |  |  | (11,717 | ) |  |  | (4,174 | ) |  |  | (12,253 | )
Interest expense, net |  |  | (23,222 | ) |  |  | (20,996 | ) |  |  | (41,650 | ) |  |  | (43,534 | )
Expenses associated with debt repayments and refinancing transactions |  |  | (52,167 | ) |  |  | — |  |  |  | (52,167 | ) |  |  | — |
Gain on sale of real estate assets |  |  | 38,766 |  |  |  | 2,818 |  |  |  | 38,766 |  |  |  | 2,818 |
Other income (expense) |  |  | (8 | ) |  |  | 169 |  |  |  | (156 | ) |  |  | 702 |
Income before income taxes |  | $ | 22,142 |  |  | $ | 21,224 |  |  | $ | 10,105 |  |  | $ | 58,238 |
The following table summarizes capital expenditures including accrued amounts for the three and six months ended June 30, 2021 and 2020 (in thousands):
|  | For the Three Months Ended June 30, |  |  | For the Six Months Ended June 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Capital expenditures: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Safety |  | $ | 13,398 |  |  | $ | 6,728 |  |  | $ | 18,921 |  |  | $ | 13,405 |
Community |  |  | 494 |  |  |  | 384 |  |  |  | 1,084 |  |  |  | 1,038 |
Properties |  |  | 2,290 |  |  |  | 3,320 |  |  |  | 3,305 |  |  |  | 99,269 |
Corporate and other |  |  | 1,032 |  |  |  | 1,562 |  |  |  | 9,550 |  |  |  | 3,620 |
Total capital expenditures |  | $ | 17,214 |  |  | $ | 11,994 |  |  | $ | 32,860 |  |  | $ | 117,332 |
The total assets are as follows (in thousands):
|  | June 30, 2021 |  |  | December 31, 2020 |
Assets: |  |  |  |  |  |  |  |
Safety |  | $ | 2,569,361 |  |  | $ | 2,589,622 |
Community |  |  | 228,974 |  |  |  | 234,475 |
Properties |  |  | 365,770 |  |  |  | 676,374 |
Corporate and other |  |  | 260,091 |  |  |  | 208,844 |
Total Assets |  | $ | 3,424,196 |  |  | $ | 3,709,315 |

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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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