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SEGMENT REPORTING | 3 Months Ended
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Mar. 31, 2025
SEGMENT REPORTING | 9. SEGMENT REPORTING The President and Chief Operating Officer of the Company is identified as the Chief Operating Decision Maker ("CODM") as defined by ASU 2023-07, "Improvements to Reportable Segment Disclosures (Topic 280)". The CODM routinely reviews segment net operating income compared to budget and prior periods to assess performance and allocate resources within reportable segments. As of March 31, 2025, CoreCivic operated 43 correctional and detention facilities, 39 of which the Company owned or controlled via a long-term lease. In addition, CoreCivic operated 21 residential reentry centers, which it owned or controlled via a long-term lease, and owned 6 properties held for lease to government agencies. Management views CoreCivic's operating results in three operating segments, CoreCivic Safety, CoreCivic Community, and CoreCivic Properties, each of which is a reportable segment. 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 held for lease 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 months ended March 31, 2025 and 2024 (in thousands):
|  | For the Three Months Ended March 31, |
|  | 2025 |  |  | 2024 |
Revenue: |  |  |  |  |  |
Safety |  | $ | 454,184 |  |  | $ | 457,746 |
Community |  |  | 29,708 |  |  |  | 29,900 |
Properties |  |  | 4,642 |  |  |  | 13,039 |
Total segment revenue |  |  | 488,534 |  |  |  | 500,685 |
Operating expenses:(1) |  |  |  |  |  |
Safety |  |  | 347,983 |  |  |  | 350,098 |
Community |  |  | 23,613 |  |  |  | 24,144 |
Properties |  |  | 3,123 |  |  |  | 3,835 |
Total segment operating expenses |  |  | 374,719 |  |  |  | 378,077 |
Facility net operating income: |  |  |  |  |  |
Safety |  |  | 106,201 |  |  |  | 107,648 |
Community |  |  | 6,095 |  |  |  | 5,756 |
Properties |  |  | 1,519 |  |  |  | 9,204 |
Total facility net operating income |  |  | 113,815 |  |  |  | 122,608 |
Other revenue (expense): |  |  |  |  |  |
Other revenue |  |  | 93 |  |  |  | 1 |
Other operating expense |  |  | (18 | ) |  |  | (26 | )
General and administrative |  |  | (36,016 | ) |  |  | (36,465 | )
Depreciation and amortization |  |  | (30,518 | ) |  |  | (31,730 | )
Interest expense, net |  |  | (15,231 | ) |  |  | (18,613 | )
Expenses associated with debt repayments and refinancing transactions |  |  | — |  |  |  | (27,242 | )
Gain on sale of real estate assets, net |  |  | — |  |  |  | 568 |
Other expense |  |  | (35 | ) |  |  | (58 | )
Income before income taxes |  | $ | 32,090 |  |  | $ | 9,043 |
(1) Salaries and benefits expense is the only significant reportable segment expense regularly reviewed by the CODM for both the Safety and Community segments and represents the majority of segment-level operating expenses given that substantial staff are required to operate the facilities and is the primary factor that drives operating expenses and profitability. Conversely, the Properties segment does not have a significant segment expense given the fact that those properties are operated by government agencies. The following table summarizes the significant segment expense, along with other segment operating expenses to reconcile to total segment operating expenses for both the Safety and Community segments, for the three months ended March 31, 2025 and 2024 (in thousands):
|  | For the Three Months Ended March 31, |
|  | 2025 |  |  | 2024 |
Safety: |  |  |  |  |  |
Salaries and benefits |  | $ | 220,651 |  |  | $ | 218,405 |
Other segment operating expenses (1) |  |  | 127,332 |  |  |  | 131,693 |
Safety operating expenses |  |  | 347,983 |  |  |  | 350,098 |
Community: |  |  |  |  |  |
Salaries and benefits |  |  | 13,204 |  |  |  | 13,640 |
Other segment operating expenses (1) |  |  | 10,409 |  |  |  | 10,504 |
Community operating expenses |  | $ | 23,613 |  |  | $ | 24,144 |
(1) Other segment operating expenses for each reportable segment include, but are not limited to, utilities, property taxes, repairs and maintenance, food, medical, vocational and educational programming, personal care and other resident supplies. The following table summarizes capital expenditures including accrued amounts for the three months ended March 31, 2025 and 2024 (in thousands):
|  | For the Three Months Ended March 31, |
|  | 2025 |  |  | 2024 |
Capital expenditures: |  |  |  |  |  |
Safety |  | $ | 20,030 |  |  | $ | 7,497 |
Community |  |  | 1,014 |  |  |  | 1,907 |
Properties |  |  | 311 |  |  |  | 305 |
Corporate and other |  |  | 3,174 |  |  |  | 908 |
Total capital expenditures |  | $ | 24,529 |  |  | $ | 10,617 |
The total assets are as follows (in thousands):
|  | March 31, 2025 |  |  | December 31, 2024 |
Assets: |  |  |  |  |  |
Safety |  | $ | 2,261,864 |  |  | $ | 2,147,369 |
Community |  |  | 202,078 |  |  |  | 204,782 |
Properties |  |  | 384,307 |  |  |  | 386,913 |
Corporate and other |  |  | 154,197 |  |  |  | 192,827 |
Total assets |  | $ | 3,002,446 |  |  | $ | 2,931,891 |

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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/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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