Business Segments and Geographic Information (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Schedule of Operating and Reporting Segments

Segment disclosures below (in thousands) reflect the results of continuing operations. All transactions between segments are eliminated.

Fiscal Year	2022			2021			2020
Revenues:
U.S. Secure Services	$	1,437,831		$	1,488,936		$	1,571,216
Electronic Monitoring and Supervision Services		496,268			278,934			241,944
Reentry Services		255,428			274,893			309,398
International Services		187,200			213,849			227,540
Total revenues	$	2,376,727		$	2,256,612		$	2,350,098
Capital Expenditures:
U.S. Secure Services	$	52,613		$	23,780		$	58,410
Electronic Monitoring and Supervision Services		31,354			29,504			32,972
Reentry Services		3,181			14,675			16,276
International Services		2,878			1,435			1,142
Total capital expenditures	$	90,026		$	69,394		$	108,800
Depreciation and amortization:
U.S. Secure Services	$	80,600		$	83,721		$	80,702
Electronic Monitoring and Supervision Services		31,838			30,422			31,678
Reentry Services		18,416			18,773			20,154
International Services		2,071			2,261			2,146
Total depreciation and amortization	$	132,925		$	135,177		$	134,680
Operating Income:
U.S. Secure Services	$	279,975		$	292,925		$	298,952
Electronic Monitoring and Supervision Services		238,194			127,070			97,421
Reentry Services [1]		42,923			50,128			6,740
International Services		18,982			22,266			19,664
Operating income from segments	$	580,074		$	492,389		$	422,777
General and Administrative Expenses		(196,972	)		(204,306	)		(193,372	)
Total operating income	$	383,102		$	288,083		$	229,405

[1] Operating income for Reentry Services for the year ended December 31, 2020 includes a goodwill impairment charge of $21.1 million.

Schedule of Pre-Tax Income Reconciliation of Segments

The following is a reconciliation of the Company’s total operating income from its reportable segments to the Company’s income before income taxes and equity in earnings of affiliates, in each case, during the years ended December 31, 2022, 2021 and 2020, respectively.

Fiscal Year Ended	2022			2021			2020
	(In thousands)
Operating income from segments	$	580,074		$	492,389		$	422,777
Unallocated amounts:
General and administrative expense		(196,972	)		(204,306	)		(193,372	)
Net interest expense		(147,719	)		(105,453	)		(103,765	)
Gain (loss) on extinguishment of debt		(37,895	)		4,693			5,319
Net gain (loss) on disposition of assets		32,332			5,499			(6,831	)
Income before income taxes and equity in earnings of affiliates	$	229,820		$	192,822		$	124,128

Geographical Information

	2022		2021
	(In thousands)
Segment assets:
U.S. Secure Services	$	2,371,146	$	2,433,023
Reentry Services		572,154		566,916
Electronic Monitoring and Supervision Services		536,291		483,112
International Services		66,023		451,547
Total segment assets	$	3,545,614	$	3,934,598

Fiscal Year	2022		2021		2020
	(In thousands)
Revenues:
U.S. operations	$	2,189,527	$	2,043,157	$	2,123,045
Australia operations		168,225		186,980		201,932
South African operations		18,975		19,527		17,044
United Kingdom operations		—		6,948		8,077
Total revenues	$	2,376,727	$	2,256,612	$	2,350,098
Property and Equipment, net:
U.S. operations	$	1,991,968	$	2,026,252	$	2,109,070
Australia operations		9,961		11,491		12,908
South African operations		92		102		127
United Kingdom operations		-		-		90
Total Property and Equipment, net	$	2,002,021	$	2,037,845	$	2,122,195

Asset Reconciliation of Segments

The following is a reconciliation of the Company’s reportable segment assets to the Company’s total assets as of December 31, 2022 and 2021, respectively.

	2022		2021
	(In thousands)
Reportable segment assets	$	3,545,614	$	3,934,598
Cash		95,073		506,491
Deferred income tax assets		8,005		—
Restricted cash and investments, current and non-current		111,691		96,319
Total assets	$	3,760,383	$	4,537,408

Sources of Revenue

Fiscal Year	2022		2021
	(In thousands)
Revenues:
Secure Services [1]	$	1,625,031	$	1,702,785
Electronic Monitoring and Supervision Services		496,268		278,934
Reentry Services		255,428		274,893
Total revenues	$	2,376,727	$	2,256,612

[1] Includes international secured services

Business Concentration

Except for the major customer noted in the following table, no other single customer made up greater than 10% of the Company’s consolidated revenues for the following fiscal years:

Customer	2022			2021			2020
Various agencies of the U.S Federal Government:		64	%		58	%		56	%