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DEBT (Tables) | 9 Months Ended
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Sep. 30, 2024
Debt Disclosure [Abstract] |
Schedule of Debt Outstanding | Debt outstanding as of September 30, 2024 and December 31, 2023 consisted of the following (in thousands):
|  | September 30, |  |  | December 31, |
|  | 2024 |  |  | 2023 |
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 September 30, 2024 and December 31, 2023 was 7.8% and 8.7%, respectively. Unamortized debt issuance costs amounted to $1.3 million and $1.5 million at September 30, 2024 and December 31, 2023, respectively. |  |  | 120,312 |  |  |  | 125,000 |
4.75% Senior Notes maturing October 2027. Unamortized debt issuance costs amounted to $1.2 million and $1.5 million at September 30, 2024 and December 31, 2023, respectively. |  |  | 243,068 |  |  |  | 243,068 |
8.25% Senior Notes maturing April 2026. Unamortized debt issuance costs amounted to $5.8 million at December 31, 2023. The 8.25% Senior Notes were redeemed on April 15, 2024, as further described below. |  |  | — |  |  |  | 593,113 |
8.25% Senior Notes maturing April 2029. Unamortized debt issuance costs amounted to $8.2 million at September 30, 2024. |  |  | 500,000 |  |  |  | — |
4.43% Lansing Correctional Facility Non-Recourse Mortgage Note maturing January 2040. Unamortized debt issuance costs amounted to $2.5 million and $2.6 million at September 30, 2024 and December 31, 2023, respectively. |  |  | 141,536 |  |  |  | 145,510 |
Total debt |  |  | 1,004,916 |  |  |  | 1,106,691 |
Unamortized debt issuance costs |  |  | (13,153 | ) |  |  | (12,052 | )
Net unamortized original issue premium |  |  | — |  |  |  | 434 |
Current portion of long-term debt |  |  | (11,952 | ) |  |  | (11,597 | )
Long-term debt, net |  | $ | 979,811 |  |  | $ | 1,083,476 |
Schedule of Principal Payments | Scheduled principal payments as of September 30, 2024 for the remainder of 2024, the next five years, and thereafter were as follows (in thousands):
2024 (remainder) |  | $ | 2,936 |
2025 |  |  | 12,073 |
2026 |  |  | 15,701 |
2027 |  |  | 262,423 |
2028 |  |  | 97,995 |
2029 |  |  | 507,985 |
Thereafter |  |  | 105,803 |
Total debt |  | $ | 1,004,916 |

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- 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
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