Shareholders' Equity (Tables)

3 Months Ended

Mar. 31, 2022

Changes in Shareholders' Equity that are Attributable to the Company's Shareholders and to Noncontrolling Interests

The following tables present the changes in shareholders’ equity that are attributable to the Company’s shareholders and to noncontrolling interests for the three months ended March 31, 2022 and 2021 (in thousands):

	Common shares						Additional Paid-In			Distributions in Excess of			Accumulated Other Comprehensive			Treasury shares					Noncontrolling			Total Shareholders'
	Shares			Amount			Capital			Earnings			Loss			Shares		Amount			Interests			Equity
For the Three Months Ended March 31, 2022
Balance, January 1, 2022		122,472		$	1,273		$	1,276,213		$	(175,960	)	$	(20,216	)		4,852	$	(105,099	)	$	(1,195	)	$	975,016
Stock-based compensation expense		—			—			6,313			—			—			—		—			—			6,313
Restricted stock granted		1,784			18			(18	)		—			—			—		—			—			—
Restricted stock canceled		(26	)		—			—			—			—			—		—			—			—
Shares withheld for net settlements of share- based awards [1]		(226	)		(2	)		(1,283	)		—			—			—		—			—			(1,285	)
Issuance of common stock - ESPP		7			—			43			—			—			—		—			—			43
Net income (loss)		—			—			—			38,219			—			—		—			(40	)		38,179
Other comprehensive income (loss)		—			—			—			—			2,584			—		—			(15	)		2,569
Balance, March 31, 2022		124,011		$	1,289		$	1,281,268		$	(137,741	)	$	(17,632	)		4,852	$	(105,099	)	$	(1,250	)	$	1,020,835

	Common shares						Additional Paid-In			Distributions in Excess of			Accumulated Other Comprehensive			Treasury shares					Noncontrolling			Total Shareholders'
	Shares			Amount			Capital			Earnings			Loss			Shares		Amount			Interests			Equity
For the Three Months Ended March 31 2021
Balance, January 1, 2021		121,318		$	1,262		$	1,262,267		$	(222,892	)	$	(22,589	)		4,835	$	(104,946	)	$	(1,020	)	$	912,082
Stock-based compensation expense		—			—			7,402			—			—			—		—			—			7,402
Restricted stock granted		1,248			12			(12	)		—			—			—		—			—			-
Restricted stock canceled		(18	)		—			—			—			—			—		—			—			-
Dividends paid		—			—			—			(30,486	)		—			—		—			—			(30,486	)
Other adjustment to paid-in capital								153									—								153
Purchase of treasury shares		(17	)		—			—			—			—			17		(153	)					(153	)
Shares withheld for net settlements of share- based awards [1]		(243	)		(2	)		(1,899	)		—			—			—		—			—			(1,901	)
Issuance of common stock - ESPP		15			—			116			—			—			—		—			—			116
Net income (loss)		—			—			—			50,544			—			—		—			(61	)		50,483
Other comprehensive income (loss)		—			—			—			—			2,479			—		—			(2	)		2,477
Balance, March 31, 2021		122,303		$	1,272		$	1,268,027		$	(202,834	)	$	(20,110	)		4,852	$	(105,099	)	$	(1,083	)	$	940,173

[1]	During the three months ended March 31, 2022 and 2021, the Company withheld shares through net share settlements to satisfy statutory tax withholding requirements upon vesting of shares of restricted stock held by employees.

Schedule of Accumulated Other Comprehensive Income (Loss)

The components of accumulated other comprehensive income (loss) attributable to GEO within shareholders' equity are as follows:

	Three Months Ended March 31, 2022
	(In thousands)
	Foreign currency translation adjustments, net of tax (1)			Change in fair value of derivatives, net of tax			Change in marketable securities, net of tax			Pension adjustments, net of tax			Total
Balance, January 1, 2022	$	(12,461	)	$	(2,524	)	7			$	(5,238	)	$	(20,216	)
Current-period other comprehensive income (loss)		440			2,464			(405	)		85			2,584
Balance, March 31, 2022	$	(12,021	)	$	(60	)	$	(398	)	$	(5,153	)	$	(17,632	)

	Three Months Ended March 31, 2021
	(In thousands)
	Foreign currency translation adjustments, net of tax (1)			Change in fair value of derivatives, net of tax			Pension adjustments, net of tax			Total
Balance, January 1, 2021	$	(9,207	)	$	(4,752	)	$	(8,630	)	$	(22,589	)
Current-period other comprehensive income (loss)		(626	)		2,949			156			2,479
Balance, March 31, 2021	$	(9,833	)	$	(1,803	)	$	(8,474	)	$	(20,110	)

(1)

The foreign currency translation related to noncontrolling interests was not significant at March 31, 2022 or 2021.