Goodwill and Other Intangible Assets, Net (Tables)

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in the Company's Goodwill Balances

Changes in the Company’s goodwill balances recognized during the years ended December 31, 2024 and 2023 were as follows (in thousands):

	January 1, 2024		Additions [1]		Foreign currency translation			December 31, 2024
U.S. Secure Services	$	316,366	$	—	$	—		$	316,366
Electronic Monitoring and Supervision Services		289,570				—			289,570
Reentry Services		148,873		—		—			148,873
International Services		390		836		(34	)		1,192
Total Goodwill	$	755,199	$	836	$	(34	)	$	756,001

	January 1, 2023		Foreign currency translation		December 31, 2023
U.S. Secure Services	$	316,366	$	—	$	316,366
Electronic Monitoring and Supervision Services		289,570		—		289,570
Reentry Services		148,873		—		148,873
International Services		390		-		390
Total Goodwill	$	755,199	$	—	$	755,199

[1] On May 1, 2024, the Company completed an acquisition of all of the ownership shares of Correct Care Australasia Pty Ltd, an entity that performed health care services located in Australia. The purchase price was approximately AUD6.0 million, or approximately $3.9 million, based on exchange rates on the date of acquisition subject to certain adjustments. The purpose of the acquisition was to expand GEO's health care services in Australia. The net assets acquired and operations were not material to our results from operations during the year ended December 31, 2024.

Schedule of Intangible Assets

Intangible assets consisted of the following as of December 31, 2024 and 2023 (in thousands):

	Weighted		December 31, 2024							December 31, 2023
	Average Useful Life (years)		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Facility management contracts		16.3	$	223,790	$	(142,414	)	$	81,376	$	223,781	$	(133,095	)	$	90,686
Trade names	Indefinite			45,200		—			45,200		45,200		—			45,200
Total acquired intangible assets			$	268,990	$	(142,414	)	$	126,576	$	268,981	$	(133,095	)	$	135,886

Estimated Amortization Expense for the Remainder

Estimated amortization expense related to the Company’s finite-lived intangible assets for 2025 through 2029 and thereafter is as follows (in thousands):

Fiscal Year	Total Amortization Expense
2025	$	9,167
2026		7,162
2027		6,912
2028		6,854
2029		6,854
Thereafter		44,427
	$	81,376