XML 45 R34.htm IDEA: XBRL DOCUMENT
v3.24.0.1

DEBT (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Schedule of Debt Outstanding | Debt outstanding consists of the following (in thousands):
|  | December 31, |
|  | 2023 |  |  | 2022 |
Revolving Credit Facility maturing October 2028. Interest payable periodically at variable interest rates. |  | $ | — |  |  | $ | — |
Term Loan maturing October 2028. Interest payable periodically at variable interest rates. The rate at December 31, 2023 and 2022 was 8.7% and 7.5%, respectively. Unamortized debt issuance costs amounted to $1.5 million and $1.4 million at December 31, 2023 and 2022, respectively. The Term Loan was increased and the maturity was extended in the fourth quarter of 2023 in connection with an amendment and restatement of the Bank Credit Facility, as further described below. |  |  | 125,000 |  |  |  | 96,250 |
4.625% Senior Notes. The 4.625% Senior Notes were redeemed on February 1, 2023, as further described below. |  |  | — |  |  |  | 153,754 |
4.75% Senior Notes maturing October 2027. Unamortized debt issuance costs amounted to $1.5 million and $1.9 million at December 31, 2023 and 2022, respectively. |  |  | 243,068 |  |  |  | 250,000 |
8.25% Senior Notes maturing April 2026. Unamortized debt issuance costs amounted to $5.8 million and $8.7 million at December 31, 2023 and 2022, respectively. |  |  | 593,113 |  |  |  | 614,113 |
4.43% Lansing Correctional Center Non-Recourse Mortgage Note maturing January 2040. Unamortized debt issuance costs amounted to $2.6 million and $2.8 million at December 31, 2023 and 2022, respectively. |  |  | 145,510 |  |  |  | 150,405 |
Total debt |  |  | 1,106,691 |  |  |  | 1,264,522 |
Unamortized debt issuance costs |  |  | (12,052 | ) |  |  | (14,763 | )
Net unamortized original issue premium |  |  | 434 |  |  |  | 624 |
Current portion of long-term debt |  |  | (11,597 | ) |  |  | (165,525 | )
Long-term debt, net |  | $ | 1,083,476 |  |  | $ | 1,084,858 |
Schedule of Principal Payments | Scheduled principal payments as of December 31, 2023 for the next five years and thereafter were as follows (in thousands):
2024 |  | $ | 11,597 |
2025 |  |  | 12,073 |
2026 |  |  | 608,814 |
2027 |  |  | 262,423 |
2028 |  |  | 97,995 |
Thereafter |  |  | 113,789 |
Total debt |  | $ | 1,106,691 |

X
- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturity and sinking fund requirement for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 470 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481544/470-10-50-1 + Details
Name: | us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration