XML 58 R43.htm IDEA: XBRL DOCUMENT v3.8.0.1
Debt (Tables)
 12 Months Ended
Dec. 31, 2017
Debt Instrument [Line Items]  
Summary of debt
Debt consisted of the following (in thousands):
 
 
 
12/31/2017
 
12/31/2016
Senior Credit Facility:
 

 

    Term loan
 
$
794,000

 
$
289,500

    Discount on term loan
 
(3,499
)
 
—

    Unamortized debt issuance costs on term loan
 
(7,612
)
 
(375
)
    Revolver
 
270,559

 
515,000

Total Senior Credit Facility
 
$
1,053,448

 
$
804,125

6.00% Senior Notes:
 
 
 
 
    Notes Due in 2026
 
$
350,000

 
$
350,000

    Unamortized debt issuance costs
 
(5,325
)
 
(5,770
)
Total 6.00% Senior Notes Due in 2026
 
$
344,675

 
$
344,230

5.875% Senior Notes:
 
 
 
 
    Notes Due in 2024
 
$
250,000

 
$
250,000

    Unamortized debt issuance costs
 
(3,385
)
 
(3,773
)
Total 5.875% Senior Notes Due in 2024
 
$
246,615

 
$
246,227

5.125% Senior Notes:
 
 
 
 
    Notes Due in 2023
 
$
300,000

 
$
300,000

    Unamortized debt issuance costs
 
(4,184
)
 
(4,786
)
Total 5.125% Senior Notes Due in 2023
 
$
295,816

 
$
295,214

5.875% Senior Notes:
 
 
 
 
    Notes Due in 2022
 
$
250,000

 
$
250,000

    Unamortized debt issuance costs
 
(3,241
)
 
(3,923
)
Total 5.875% Senior Notes Due in 2022
 
$
246,759

 
$
246,077

Non-Recourse Debt:
 

 
 
    Non-Recourse Debt
 
$
394,008

 
$
490,902

    Unamortized debt issuance costs on non-recourse debt
 
(9,322
)
 
(18,295
)
    Discount on Non-Recourse Debt
 
(271
)
 
(400
)
Total Non-Recourse Debt
 
$
384,415

 
$
472,207

Capital Lease Obligations
 
7,431

 
8,693

Other debt
 
2,728

 
3,030

Total debt
 
$
2,581,887

 
$
2,419,803

Current portion of capital lease obligations, long-term debt and non-recourse debt [1]
 
(28,920
)
 
(238,065
)
Capital Lease Obligations, long-term portion
 
(6,059
)
 
(7,431
)
Non-Recourse Debt, long-term portion
 
(365,364
)
 
(238,842
)
Long-Term Debt
 
$
2,181,544

 
$
1,935,465


[1] Balance at December 31, 2016 included a lump sum payment of approximately $224.0 million which was made in November 2017. Refer to Note 7- Contract Receivable.
Debt repayment schedules under capital lease obligations, long-term debt and non-recourse debt
Debt repayment schedules under Capital Lease Obligations, Long-Term Debt, Non-Recourse Debt and the Senior Credit Facility are as follows:
 
Fiscal Year
Capital
Leases
 
Long-Term
Debt
 
Non-
Recourse
Debt
 
Revolver
 
Term
Loans
 
Total
Annual
Repayment
 
(In thousands)
2018
1,936

 
498

 
19,050

 
—

 
8,000

 
29,484

2019
1,934

 
499

 
13,189

 
—

 
8,000

 
23,622

2020
1,934

 
233

 
14,744

 
—

 
8,000

 
24,911

2021
1,936

 
142

 
15,855

 
270,559

 
8,000

 
296,492

2022
1,233

 
250,133

 
8,990

 
—

 
8,000

 
268,356

Thereafter
—

 
901,224

 
322,180

 
—

 
754,000

 
1,977,404

 
8,973

 
1,152,729

 
394,008

 
270,559

 
794,000

 
2,620,269

Interest imputed on Capital Leases
(1,542
)
 
—

 
—

 
—

 
—

 
(1,542
)
Original issuer’s discount
—

 
—

 
(271
)
 
—

 
(3,499
)
 
(3,770
)
Current portion
(1,372
)
 
(498
)
 
(19,050
)
 
—

 
(8,000
)
 
(28,920
)
Non-current portion
$
6,059

 
$
1,152,231

 
$
374,687

 
$
270,559

 
$
782,501

 
$
2,586,037
Senior Notes | 5.875% Senior Notes due 2024  
Debt Instrument [Line Items]  
Debt instrument redemption
, the Company may, at its option, redeem the 5.875% Senior Notes due 2024 in whole or in part on or after October 15, 2019 through 2024 and thereafter as indicated below:

 
 
 
 
Year
  
Percentage
2020
  
102.938%
2021
  
101.958%
2022
  
100.979%
2023 and thereafter
  
100.000%
Senior Notes | 6.00% Senior Notes  
Debt Instrument [Line Items]  
Debt instrument redemption
On or after April 15, 2021, GEO may, at its option, redeem all or part of the 6.00% Senior Notes upon not less than 30 nor more than 60 days’ notice, at the redemption prices (expressed as percentages of principal amount) set forth below, plus accrued and unpaid interest, if any, on the 6.00% Senior Notes redeemed, to the applicable redemption date, if redeemed during the 12-month period beginning on April 15 of the years indicated below:
 
 
 
Year
  
Percentage
2022
  
103.000%
2023
  
102.000%
2024
  
101.000%
2025 and thereafter
  
100.000%
Senior Notes | 5.875% Senior Notes  
Debt Instrument [Line Items]  
Debt instrument redemption
On or after January 15, 2017, GEO may, at its option, redeem all or part of the 5.875% Senior Notes 2022 upon not less than 30 days nor more than 60 days’ notice, at the redemption prices (expressed as percentages of principal amount) set forth below, plus accrued and unpaid interest and including Liquidated Damages, if any, on the 5.875% Senior Notes due 2022 redeemed, to the applicable redemption date, if redeemed during the 12-month period beginning on January 15 of the years indicated below:

Year
Percentage
2018
104.406
%
2019
102.938
%
2020
101.469
%
2021 and thereafter
100.000
%
Senior Notes | 5.125% Senior Notes  
Debt Instrument [Line Items]  
Debt instrument redemption
On or after April 1, 2018, the Company may, at its option, redeem all or a part of the 5.125% Senior Notes upon not less than 30 days nor more than 60 days notice at the redemption prices (expressed as percentages of principal amount) set forth below, plus accrued and unpaid interest and Liquidated Damages, if any, on the 5.125% Senior Notes redeemed, to the applicable redemption date, if redeemed during the period beginning on April 1 of the years indicated below:
Year
Percentage
2019
102.563
%
2020
101.708
%
2021
100.854
%
2022 and thereafter
100.000
%