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SEGMENT REPORTING | 6 Months Ended
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Jun. 30, 2023
Segment Reporting [Abstract] |
SEGMENT REPORTING | 10. SEGMENT REPORTING As of June 30, 2023, CoreCivic operated 44 correctional and detention facilities, 40 of which the Company owned. In addition, CoreCivic owned and operated 23 residential reentry centers and owned 6 properties leased to government agencies. 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 government agencies. 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, 2023 and 2022 (in thousands):
|  | For the Three Months Ended June 30, |  |  | For the Six Months Ended June 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Revenue: |  |  |  |  |  |  |  |  |  |  |  |
Safety |  | $ | 421,743 |  |  | $ | 416,354 |  |  | $ | 839,393 |  |  | $ | 830,602 |
Community |  |  | 28,364 |  |  |  | 25,775 |  |  |  | 54,778 |  |  |  | 49,890 |
Properties |  |  | 13,574 |  |  |  | 14,526 |  |  |  | 27,411 |  |  |  | 29,117 |
Total segment revenue |  |  | 463,681 |  |  |  | 456,655 |  |  |  | 921,582 |  |  |  | 909,609 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |
Safety |  |  | 335,726 |  |  |  | 324,261 |  |  |  | 664,124 |  |  |  | 645,282 |
Community |  |  | 22,905 |  |  |  | 21,282 |  |  |  | 45,620 |  |  |  | 41,509 |
Properties |  |  | 3,324 |  |  |  | 3,377 |  |  |  | 6,685 |  |  |  | 6,659 |
Total segment operating expenses |  |  | 361,955 |  |  |  | 348,920 |  |  |  | 716,429 |  |  |  | 693,450 |
Facility net operating income: |  |  |  |  |  |  |  |  |  |  |  |
Safety |  |  | 86,017 |  |  |  | 92,093 |  |  |  | 175,269 |  |  |  | 185,320 |
Community |  |  | 5,459 |  |  |  | 4,493 |  |  |  | 9,158 |  |  |  | 8,381 |
Properties |  |  | 10,250 |  |  |  | 11,149 |  |  |  | 20,726 |  |  |  | 22,458 |
Total facility net operating income |  |  | 101,726 |  |  |  | 107,735 |  |  |  | 205,153 |  |  |  | 216,159 |
Other revenue (expense): |  |  |  |  |  |  |  |  |  |  |  |
Other revenue |  |  | 1 |  |  |  | 42 |  |  |  | 102 |  |  |  | 76 |
Other operating expense |  |  | (53 | ) |  |  | (80 | ) |  |  | (116 | ) |  |  | (179 | )
General and administrative |  |  | (32,612 | ) |  |  | (31,513 | ) |  |  | (65,291 | ) |  |  | (62,614 | )
Depreciation and amortization |  |  | (31,615 | ) |  |  | (32,259 | ) |  |  | (62,657 | ) |  |  | (64,287 | )
Shareholder litigation expense |  |  | — |  |  |  | (1,900 | ) |  |  | — |  |  |  | (1,900 | )
Interest expense, net |  |  | (18,268 | ) |  |  | (21,668 | ) |  |  | (37,419 | ) |  |  | (44,588 | )
Expenses associated with debt repayments and refinancing transactions |  |  | (226 | ) |  |  | (6,805 | ) |  |  | (226 | ) |  |  | (6,805 | )
Gain (loss) on sale of real estate assets, net |  |  | (25 | ) |  |  | 1,060 |  |  |  | (25 | ) |  |  | 3,321 |
Other income (expense) |  |  | 78 |  |  |  | (37 | ) |  |  | 31 |  |  |  | 1,005 |
Income before income taxes |  | $ | 19,006 |  |  | $ | 14,575 |  |  | $ | 39,552 |  |  | $ | 40,188 |
The following table summarizes capital expenditures including accrued amounts for the three and six months ended June 30, 2023 and 2022 (in thousands):
|  | For the Three Months Ended June 30, |  |  | For the Six Months Ended June 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Capital expenditures: |  |  |  |  |  |  |  |  |  |  |  |
Safety |  | $ | 13,993 |  |  | $ | 15,419 |  |  | $ | 17,562 |  |  | $ | 29,746 |
Community |  |  | 226 |  |  |  | 408 |  |  |  | 640 |  |  |  | 680 |
Properties |  |  | 495 |  |  |  | 1,194 |  |  |  | 543 |  |  |  | 1,194 |
Corporate and other |  |  | 1,741 |  |  |  | 1,457 |  |  |  | 3,933 |  |  |  | 2,473 |
Total capital expenditures |  | $ | 16,455 |  |  | $ | 18,478 |  |  | $ | 22,678 |  |  | $ | 34,093 |
The total assets are as follows (in thousands):
|  | June 30, 2023 |  |  | December 31, 2022 |
Assets: |  |  |  |  |  |
Safety |  | $ | 2,331,489 |  |  | $ | 2,433,126 |
Community |  |  | 217,891 |  |  |  | 216,303 |
Properties |  |  | 349,769 |  |  |  | 362,908 |
Corporate and other |  |  | 128,632 |  |  |  | 232,432 |
Total assets |  | $ | 3,027,781 |  |  | $ | 3,244,769 |

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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 -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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