The GEO Group, Inc. GEO Cash Flow

The geo group, inc. (GEO)

CashFlow / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09	Dec'08
Cash Flow from Operating Activities:
Net income
166,412	144,827	146,024	148,498	139,315	143,840	115,197	133,898	77,463	62,790	66,123	59,278
Net loss attributable to noncontrolling interests
-191	-262	-217	-217	-123	-90	62	-852	-1,162	-678	169	376
Net income attributable to The GEO Group, Inc.
166,603	145,089	146,241	148,715	139,438	143,930	115,135	134,750	78,625	63,468	65,954	58,902
Adjustments to reconcile net income attributable to The GEO Group, Inc. to net cash provided by operating activities:
Depreciation and amortization expense
130,825	126,434	124,297	114,916	106,756	96,171	94,664	91,685	81,548	44,365	39,306	37,406
Stock-based compensation
22,344	22,049	19,844	12,773	11,709	8,909	7,889	6,543	6,113	4,639	1,813	1,530
Gain on extinguishment of debt
-4,795	0	0	-15,885	0	0	-20,657	-8,462	0	-7,933	-6,839	-
Deferred tax provision (benefit)
-588	1,230	12,238	-5,963	-2,374	-10,355	-5,948	-87,710	44,368	18,359	10,010	2,656
Amortization of debt issuance costs, discount and/or premium and other non-cash interest
8,609	8,856	16,540	12,121	6,963	5,332	5,916	3,864	1,745	3,209	3,412	3,042
Termination of interest rate swap agreements
-	-	-	-	-	-	3,974	0	-	-	-1,719	-
Loss on derivative instrument
-	-	-	-	-	-1,121	0	0	0	-	-	-
Restricted stock expense
-	-	-	-	-	-	-	-	-	-	3,509	3,015
Provision for doubtful accounts
190	823	2,456	2,682	764	985	1,136	760	1,785	815	139	602
Exit charges related to non-core operating leases
-	-	-	-	4,550	0	0	-	-	-	-	-
Loss on divestiture of RTS-non-cash
-	-	-	-	-	-	-	-22,566	0	0	-	-
Equity in earnings of affiliates, net of tax
9,532	9,627	12,045	6,925	5,533	5,823	6,265	3,578	1,563	4,218	3,517	4,623
Dividends received from unconsolidated joint venture
10,312	11,846	6,132	1,611	3,244	4,274	3,153	0	9,911	0	2,193	-
Income tax deficiency (benefit) related to equity compensation
-	-	-	-1,626	1,409	2,035	2,197	621	465	3,926	601	786
Release of reserve for uncertain tax positions
-	-	-	-	-	-	-5,701	0	0	-	-	-
Loss on sale/disposal of property and equipment, net
-5,576	-4,236	-1,520	-394	466	-490	-959	-6,319	-558	646	-119	-157
Loss on assets held for sale
-1,083	0	0	-	-	-	-	-	-	-	-	-
Changes in assets and liabilities, net of effects of acquisitions:
Changes in accounts receivable, prepaid expenses and other assets
8,391	66,101	-20,938	50,946	29,311	-23,809	27,239	-44,737	20,128	11,764	-864	29,897
Changes in contract receivable
4,355	2,049	-40,515	280,562	114,086	73,289	0	-	-	-	-	-
Changes in accounts payable, accrued expenses and other liabilities
10,672	31,689	2,366	5,645	21,912	9,022	-9,970	27,410	-16,756	3,238	-4,753	2,478
Cash provided by operating activities - continuing operations
-	-	-	-	-	-	-	255,187	185,741	125,472	125,287	74,482
Cash (used in) provided by operating activities - discontinued operations
-	-	-	-	-	-	-	9,053	3,371	4,418	5,818	-3,013
Net cash provided by operating activities
338,143	274,475	381,042	-28,028	142,157	202,541	192,189	264,240	189,112	129,890	131,105	71,469
Cash Flow from Investing Activities:
Acquisition of CEC, cash consideration, net of cash acquired
0	0	353,556	0	307,404	0	0	-	-	-	38,386	-
Net working capital adjustment from RTS divestiture
-	-	-	-	-	-	996	0	0	-	-	-
Insurance proceeds - damaged property
19,310	1,438	2,754	4,733	1,270	0	0	-	-	-	-	-
Acquisition of CEC, cash consideration, net of cash acquired
-	-	-	-	0	13,025	0	0	409,607	260,255	-	-
Acquisition of SoberLink, cash consideration
-	-	-	-	24,402	0	0	-	-	-	-	-
Acquisition of ownership interests in MCF
-	-	-	-	-	-	-	35,154	0	0	-	-
Proceeds from RTS divestiture
-	-	-	-	-	-	-	33,253	0	0	-	-
Proceeds from sale of property and equipment
414	2,077	3,460	2,030	42	699	205	65	1,483	480	179	1,136
Proceeds from sale of assets held for sale
823	3,797	0	0	-	-	1,969	5,641	7,121	0	-	-
Change in restricted cash and investments
7,440	129	4,507	2,892	4,805	-5,380	-17,412	-51,189	9,503	11,184	-2,713	-452
Purchase of shares in consolidated affiliate
-	-	-	-	-	-	-	-	-	-	-	2,189
Capital expenditures
117,244	195,666	148,406	81,565	117,581	114,224	117,566	107,549	222,033	94,691	149,779	130,990
Cash used in investing activities - continuing operations
-	-	-	-	-	-	-	-52,555	-632,539	-365,650	-	-131,591
Cash used in investing activities - discontinued operations
-	-	-	-	-	-	-	-2,761	-3,002	-2,611	-	-
Net cash used in investing activities
-104,137	-188,483	-500,255	-77,694	-452,880	-121,170	-98,976	-55,316	-635,541	-368,261	-185,273	-
Cash Flow from Financing Activities:
Proceeds from long-term debt
521,370	502,998	1,389,084	1,012,945	724,798	654,000	1,238,000	358,000	835,395	726,000	333,000	156,000
Payments on long-term debt
513,219	282,358	1,140,788	934,006	311,985	678,099	1,134,544	456,485	289,832	397,445	267,474	100,156
Payments on non-recourse debt
335,116	18,544	307,414	10,064	11,908	18,627	0	0	-	-	-	-
Proceeds from non-recourse debt
321,102	0	181,658	266,835	123,560	87,896	0	-	-	-	-	-
Taxes paid related to net share settlements of equity awards
4,179	3,820	4,142	2,336	2,786	1,844	0	0	-	-	-	-
Excess Tax Benefit from Share-based Compensation, Financing Activities
-	-	-	-1,626	1,409	2,035	2,197	621	465	3,926	601	786
Proceeds from issuance of common stock in connection with ESPP
532	534	497	436	441	387	319	460	0	0	-	-
Payments for retirement of common stock
-	-	-	-	-	-	-	-	-	7,078	-	-
Payment of make-whole provision and other fees for early extinguishment of debt
-	-	-	-	-	-	-	-	-	0	-	-
Distribution to noncontrolling interests
-	-	-	-	-	-	-	5,758	4,012	0	176	125
Debt issuance costs - deferred
-	-	-	-	-	-	23,834	1,398	15,462	-	-	-
Debt issuance costs
9,856	990	9,542	21,115	7,069	26,420	13,421	14,861	0	8,400	17,253	3,685
Payment for repurchases of common stock
0	95,175	0	0	-	-	-	8,666	74,982	80,000	-	-
Proceeds from the exercise of stock options
1,258	1,887	6,962	3,347	2,774	7,281	5,425	9,276	2,446	6,695	1,457	753
Issuance of common stock in connection with public offering
0	0	275,867	0	0	54,725	0	-	-	-	-	-
Payment for retirement of common stock
-	-	-	-	-	-	-	1,036	0	-	-	-
Cash dividends paid
232,546	229,498	227,463	194,748	186,984	170,234	147,156	102,435	0	0	-	-
Net cash used in financing activities
-250,654	-124,966	164,719	119,668	332,250	-88,900	-69,040	-222,282	454,018	243,698	51,874	53,573
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash and Cash Equivalents
-352	-10,099	-2,318	1,119	-3,226	-3,259	-3,803	1,735	-2,299	4,169	4,495	-6,199
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash and Cash Equivalents
-17,000	-49,073	43,188	15,065	18,301	-10,788	20,370	-11,623	5,290	9,496	2,201	-12,748
Supplemental Disclosures:
Income taxes
11,160	8,035	13,809	23,063	11,522	7,976	16,697	2,997	10,494	34,475	34,185	29,895
Interest
135,579	133,566	115,354	109,356	97,652	71,669	69,304	73,901	60,948	36,310	32,075	34,486
Non-cash Investing and Financing activities:
Right-of-use assets obtained from operating lease liabilities upon adoption of new lease standard
147,000	-	-	-	-	-	-	-	-	-	-	-
Right-of-use assets obtained from operating lease liabilities (subsequent to initial adoption)
12,223	-	-	-	-	-	-	-	-	-	-	-
Deferred tax assets recorded in equity in connection with MCF Transaction
-	-	-	-	-	-	-	10,015	0	0	-	-
Stock portion of Special Dividend
-	-	-	-	-	-	-	274,402	0	0	-	-
Capital expenditures in accounts payable and accrued expenses
11,049	15,253	13,039	894	5,939	11,798	2,148	1,959	26,322	11,237	10,418	20,376