LEASES (Tables)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Schedule of Future Minimum Lease Payments

The expense incurred for all operating leases, inclusive of short-term and variable leases, but exclusive of the non-lease food services component of the STFRC lease, was $20.9 million, $34.2 million, and $34.2 million for the years ended December 31, 2024, 2023, and 2022, respectively. The cash payments for operating leases are reflected as cash flows from operating activities on the accompanying consolidated statements of cash flows and cash payments for financing leases are reflected as cash flows from financing activities. Future minimum lease payments as of December 31, 2024 for the Company's operating lease liabilities are as follows (in thousands):

2025	$	4,573
2026		4,259
2027		3,622
2028		3,190
2029		2,804
Thereafter		6,149
Total future minimum lease payments		24,597
Less amount representing interest		(3,613	)
Total present value of minimum lease payments	$	20,984

Schedule of Future Minimum Lease Payments to be Received from Third-Party Lessees for Company's Operating Leases and Finance Leases

Future minimum lease payments to be received from third-party lessees as of December 31, 2024 for the Company's operating leases are as follows (in thousands):

2025	$	15,962
2026		16,174
2027		15,615
2028		11,950
2029		8,308
Thereafter		2,279

Financing Leasing Transactions

On January 24, 2018, CoreCivic entered into a 20-year lease agreement with the Kansas Department of Corrections ("KDOC") for a 2,432-bed correctional facility to be constructed by the Company in Lansing, Kansas. The new facility, reported in the Company's CoreCivic Properties segment, replaced the Lansing Correctional Facility, Kansas' largest correctional complex for adult male inmates, originally constructed in 1863. CoreCivic will be responsible for facility maintenance throughout the 20-year term of the lease, at which time ownership will revert to the state of Kansas. Construction of the facility commenced in the first quarter of 2018, and construction was completed in January 2020, at which time the lease commenced. CoreCivic accounts for the lease with the KDOC partially as a financing receivable under ASC 842, with the remaining portion of the lease payments attributable to maintenance services and capital expenditures as revenue streams under ASC 606. As of December 31, 2024 and 2023, the financing receivable was $135.3 million and $139.0 million, respectively, included in Other Assets on the consolidated balance sheets. For the years ended December 31, 2024, 2023 and 2022, the Lansing Correctional Facility generated $2.7 million, $2.6 million, and $2.5 million, respectively, of revenue associated with the non-lease services components of the arrangement, and $8.3 million, $8.5 million, and $8.7 million of interest income, respectively. Future minimum lease payments to be received from the third-party lessee as of December 31, 2024 for the Company's finance lease is as follows (in thousands):

2025	$	16,484
2026		16,804
2027		17,130
2028		17,462
2029		17,801
Thereafter		199,956
Total future minimum lease payments to be received		285,637
Less amount representing interest		(75,890	)
Less amount representing maintenance services   and capital expenditures		(74,420	)
Total present value of minimum lease payments to be received	$	135,327