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SEGMENT REPORTING | 9 Months Ended
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Sep. 30, 2021
SEGMENT REPORTING |
10. | SEGMENT REPORTING
As of September 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 9 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 nine months ended September 30, 2021 and 2020 (in thousands):
|  | For the Three Months Ended September 30, |  |  | For the Nine Months Ended September 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Revenue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Safety |  | $ | 431,534 |  |  | $ | 420,032 |  |  | $ | 1,261,183 |  |  | $ | 1,281,914 |
Community |  |  | 25,535 |  |  |  | 24,067 |  |  |  | 74,122 |  |  |  | 80,670 |
Properties |  |  | 13,940 |  |  |  | 24,134 |  |  |  | 54,927 |  |  |  | 69,296 |
Total segment revenue |  |  | 471,009 |  |  |  | 468,233 |  |  |  | 1,390,232 |  |  |  | 1,431,880 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Safety |  |  | 314,283 |  |  |  | 319,335 |  |  |  | 926,990 |  |  |  | 973,811 |
Community |  |  | 20,427 |  |  |  | 21,095 |  |  |  | 61,551 |  |  |  | 67,745 |
Properties |  |  | 3,381 |  |  |  | 7,411 |  |  |  | 15,323 |  |  |  | 21,271 |
Total segment operating expenses |  |  | 338,091 |  |  |  | 347,841 |  |  |  | 1,003,864 |  |  |  | 1,062,827 |
Facility net operating income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Safety |  |  | 117,251 |  |  |  | 100,697 |  |  |  | 334,193 |  |  |  | 308,103 |
Community |  |  | 5,108 |  |  |  | 2,972 |  |  |  | 12,571 |  |  |  | 12,925 |
Properties |  |  | 10,559 |  |  |  | 16,723 |  |  |  | 39,604 |  |  |  | 48,025 |
Total facility net operating income |  |  | 132,918 |  |  |  | 120,392 |  |  |  | 386,368 |  |  |  | 369,053 |
Other revenue (expense): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other revenue |  |  | 185 |  |  |  | 33 |  |  |  | 251 |  |  |  | 128 |
Other operating expense |  |  | (101 | ) |  |  | (86 | ) |  |  | (282 | ) |  |  | (342 | )
General and administrative |  |  | (34,600 | ) |  |  | (35,883 | ) |  |  | (97,358 | ) |  |  | (97,307 | )
Depreciation and amortization |  |  | (33,991 | ) |  |  | (37,865 | ) |  |  | (100,787 | ) |  |  | (114,436 | )
Contingent consideration for acquisition for businesses |  |  | — |  |  |  | (620 | ) |  |  | — |  |  |  | (620 | )
Shareholder litigation expense |  |  | — |  |  |  | — |  |  |  | (54,295 | ) |  |  | — |
Asset impairments |  |  | (5,177 | ) |  |  | (805 | ) |  |  | (9,351 | ) |  |  | (13,058 | )
Interest expense, net |  |  | (20,653 | ) |  |  | (20,193 | ) |  |  | (62,303 | ) |  |  | (63,727 | )
Expenses associated with debt repayments and refinancing transactions |  |  | — |  |  |  | — |  |  |  | (52,167 | ) |  |  | — |
Gain on sale of real estate assets, net |  |  | — |  |  |  | 2,102 |  |  |  | 38,766 |  |  |  | 4,920 |
Other income (expense) |  |  | 49 |  |  |  | 11 |  |  |  | (107 | ) |  |  | 713 |
Income before income taxes |  | $ | 38,630 |  |  | $ | 27,086 |  |  | $ | 48,735 |  |  | $ | 85,324 |
The following table summarizes capital expenditures including accrued amounts for the three and nine months ended September 30, 2021 and 2020 (in thousands):
|  | For the Three Months Ended September 30, |  |  | For the Nine Months Ended September 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Capital expenditures: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Safety |  | $ | 14,598 |  |  | $ | 11,856 |  |  | $ | 33,519 |  |  | $ | 25,261 |
Community |  |  | 525 |  |  |  | 515 |  |  |  | 1,609 |  |  |  | 1,553 |
Properties |  |  | 3,729 |  |  |  | 3,177 |  |  |  | 7,034 |  |  |  | 102,446 |
Corporate and other |  |  | 1,012 |  |  |  | 1,239 |  |  |  | 10,562 |  |  |  | 4,859 |
Total capital expenditures |  | $ | 19,864 |  |  | $ | 16,787 |  |  | $ | 52,724 |  |  | $ | 134,119 |
The total assets are as follows (in thousands):
|  | September 30, 2021 |  |  | December 31, 2020 |
Assets: |  |  |  |  |  |  |  |
Safety |  | $ | 2,494,179 |  |  | $ | 2,589,622 |
Community |  |  | 228,529 |  |  |  | 234,475 |
Properties |  |  | 355,886 |  |  |  | 676,374 |
Corporate and other |  |  | 543,383 |  |  |  | 208,844 |
Total Assets |  | $ | 3,621,977 |  |  | $ | 3,709,315 |

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