The geo group, inc. (GEO)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10
Cash Flow from Operating Activities:
Net income

25,121

38,042

45,885

41,836

40,649

33,353

39,229

37,325

34,920

36,263

38,453

30,942

40,366

49,342

43,674

23,156

32,326

44,020

38,285

28,254

28,756

37,981

38,965

38,898

27,996

27,631

29,909

34,219

23,438

81,636

14,727

22,476

15,059

18,627

21,293

21,163

16,380

23,047

5,010

17,025

17,708

Net loss attributable to noncontrolling interests

-60

-10

-47

-78

-56

-39

-60

-96

-67

-94

-36

-50

-37

-94

-46

-53

-24

-44

-21

-37

-21

-70

-26

0

6

20

12

12

18

29

-890

-25

34

-112

-225

-415

-410

-451

-271

8

36

Net income attributable to The GEO Group, Inc.

25,181

38,052

45,932

41,914

40,705

33,392

39,289

37,421

34,987

36,357

38,489

30,992

40,403

49,436

43,720

23,209

32,350

44,064

38,306

28,291

28,777

38,051

38,991

38,898

27,990

27,611

29,897

34,207

23,420

81,607

15,617

22,501

15,025

18,739

21,518

21,578

16,790

23,498

5,281

17,017

17,672

Adjustments to reconcile net income attributable to The GEO Group, Inc. to net cash provided by operating activities:
Depreciation and amortization expense

33,327

33,585

32,419

32,352

32,469

31,898

31,297

31,313

31,926

31,833

31,649

31,866

28,949

29,030

28,783

28,652

28,451

28,128

27,127

26,561

24,940

24,202

24,079

23,748

24,142

24,184

23,888

23,657

22,935

23,540

22,944

22,962

22,239

20,052

21,850

20,844

18,802

12,269

13,384

9,474

9,238

Stock-based compensation

9,768

5,425

4,739

5,453

6,727

5,698

5,564

4,960

5,827

4,992

4,859

5,030

4,963

3,098

3,186

3,248

3,241

3,107

3,024

2,957

2,621

2,646

1,730

2,067

2,466

2,121

2,423

1,660

1,685

1,531

3,579

-39

1,472

3,912

388

490

1,323

3,635

306

322

376

Gain on extinguishment of debt

1,563

352

594

-5,741

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred tax provision (benefit)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-67

-

-

-

-296

-

-

-

-

-

-

-

-

Amortization of debt issuance costs, discount and/or premium and other non-cash interest

1,670

1,748

1,838

2,460

2,563

2,996

1,868

1,854

2,138

4,618

4,246

3,870

3,806

3,791

3,303

2,661

2,366

1,977

1,770

1,521

1,695

1,411

1,522

1,175

1,224

1,307

1,594

1,478

1,537

1,523

972

679

690

597

508

414

226

187

480

1,270

1,272

Restricted stock expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

857

1,047

738

-

861

852

816

Provision for doubtful accounts

25

64

-133

128

131

17

281

330

195

859

370

849

378

899

613

1,170

0

441

0

0

323

985

-666

131

535

815

163

158

0

282

-39

114

403

550

236

592

407

675

49

91

0

Equity in earnings of affiliates, net of tax

2,260

2,887

2,228

1,821

2,596

2,556

2,735

2,341

1,995

7,790

1,342

1,426

1,487

1,982

1,693

2,131

1,119

1,584

1,339

1,125

1,485

1,621

1,544

1,174

1,484

2,493

1,526

1,029

1,217

1,926

474

430

748

-789

272

1,418

662

1,350

1,150

1,128

590

Dividends received from unconsolidated joint venture

633

4,618

2,606

0

3,088

3,136

4,753

3,221

736

1,080

2,693

0

2,359

0

1,611

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,509

0

0

5,402

-3,909

0

0

3,909

Income tax deficiency (benefit) related to equity compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-782

-53

27

-818

157

601

82

569

537

147

793

558

314

575

181

1,127

380

511

72

-342

-71

144

220

172

3,140

771

-97

112

Loss on sale/disposal of property and equipment, net

-304

-1,840

-1,764

-1,275

-697

-584

-4,653

651

350

674

-285

-1,799

-110

370

-592

-498

326

-469

190

200

545

-37

-30

-188

-235

-291

-65

-478

-125

-5,260

-144

-592

-323

-353

-153

80

-132

-

-

0

0

Loss on assets held for sale

0

0

0

0

-1,083

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in assets and liabilities, net of effects of acquisitions:
Changes in accounts receivable, prepaid expenses and other assets

-53,210

54,505

-7,248

-11,339

-27,527

52,146

33,793

-12,313

-7,525

-15,334

38,732

7,373

-51,709

16,993

48,000

-36,610

22,563

26,243

17,023

-983

-12,972

-1,574

-22,256

-7,206

7,227

10,981

25,799

-16,144

6,603

17,185

-38,549

3,012

-26,385

46,024

-9,720

12,966

-29,142

14,475

23,881

-5,127

-21,465

Changes in contract receivable

-1,206

10,693

-3,187

-1,705

-1,446

-1,937

-933

11,217

-6,298

-203,598

41,077

52,908

69,098

75,427

80,862

77,317

46,956

39,603

27,883

21,832

24,768

18,558

54,731

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in accounts payable, accrued expenses and other liabilities

6,758

-1,122

9,113

17,510

-14,829

28,640

-12,140

32,790

-17,601

20,692

5,751

-9,867

-14,210

-2,571

-1,335

23,340

-13,789

14,974

8,175

-18,021

16,784

-2,859

-1,015

-2,933

15,829

-17,446

22,660

-19,933

4,749

-2,660

24,625

4,997

448

-20,894

15,262

-8,073

-3,051

-10,706

15,774

-12,518

10,688

Cash provided by operating activities - continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

26,448

111,807

50,649

66,283

-

-

-

-

-

-

-

-

Cash (used in) provided by operating activities - discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

10,229

-11,210

7,837

2,197

-

-

-

-

-

-

-

-

Net cash provided by operating activities

128,259

15,185

105,891

118,056

99,011

54,252

39,970

110,567

69,686

323,137

7,191

2,832

47,882

-16,270

-50,010

55,779

-17,527

30,993

31,366

19,053

60,745

37,916

32,481

68,992

63,152

34,369

56,506

55,877

45,437

36,677

100,597

58,486

68,480

24,988

68,862

26,185

69,077

26,286

18,266

20,604

64,734

Cash Flow from Investing Activities:
Acquisition of CEC, cash consideration, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

0

0

307,403

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Insurance proceeds - damaged property

0

1,921

6,628

8,258

2,503

-4,560

1,962

-468

4,504

2,668

86

0

0

-

-

-

-

0

369

201

700

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of CEC, cash consideration, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

25

0

13,000

0

0

0

0

-

-

-

-

0

0

0

409,607

-

-

-

-

Just Care purchase price adjustment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

41

Proceeds from sale of property and equipment

264

12

98

30

274

16

344

1,717

0

2,604

208

-41

689

1,962

25

25

18

-7

-74

103

20

184

1

349

165

1

153

47

4

-543

377

73

158

688

176

369

250

146

0

234

100

Proceeds from sale of assets held for sale

1,300

0

823

0

0

0

0

0

3,797

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

1

0

366

1,602

0

5,344

0

297

0

481

6,640

0

-

-

-

-

Change in restricted cash and investments

-3,363

1,991

633

754

4,062

-2,284

923

985

505

697

847

905

2,058

-94,824

31,863

24,816

41,037

-6,331

5,719

-2,691

8,108

-11,432

-2,884

5,663

3,273

-3,436

-19,886

8,240

-2,330

-10,114

-40,522

407

-960

5,377

-7,352

14,677

-3,199

9,114

-3,148

2,961

2,257

Capital expenditures

30,652

26,457

35,377

27,326

28,084

34,176

54,426

54,917

52,147

44,276

36,622

33,087

34,421

13,550

22,001

17,585

28,429

16,737

29,150

37,496

34,198

36,511

36,591

23,591

17,531

16,116

11,529

78,519

11,402

17,071

20,942

21,620

47,916

44,377

90,294

48,666

38,696

26,407

11,921

40,626

15,737

Cash used in investing activities - continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

25,753

-9,853

-21,954

-46,501

-

-

-

-

-

-

-

-17,935

Cash used in investing activities - discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-586

362

-1,452

-1,085

-

-

-

-

-

-

-

-

Net cash used in investing activities

-25,725

-26,515

-28,461

-19,792

-29,369

-36,436

-53,043

-54,653

-44,351

-39,702

-36,264

-388,499

-35,790

83,236

-49,654

-41,828

-69,448

-10,414

-34,574

-58,903

-348,989

-24,895

-33,731

-28,905

-33,639

-12,678

8,510

-87,342

-7,466

25,167

-9,491

-23,406

-47,586

-52,068

-82,285

-56,334

-444,854

-

-

-

-

Cash Flow from Financing Activities:
Proceeds from long-term debt

96,000

247,000

104,370

40,000

130,000

130,998

127,000

143,000

102,000

64,219

166,291

75,426

1,083,148

199,868

172,077

524,000

117,000

82,798

124,000

147,000

371,000

194,616

450,384

-94,000

103,000

396,000

57,000

375,000

410,000

95,000

118,000

92,000

53,000

218,148

134,987

21,260

461,000

53,000

576,000

82,000

15,000

Payments on long-term debt

125,505

202,603

96,690

117,000

96,926

96,325

52,033

91,000

43,000

47,700

120,588

54,000

918,500

158,750

147,750

538,750

88,756

89,310

87,931

95,994

38,750

168,967

491,953

-91,811

108,990

392,341

44,455

339,310

358,438

104,354

182,849

105,207

64,075

162,288

80,712

25,166

21,666

54,985

301,376

28,285

12,799

Payments on non-recourse debt

1,362

2,399

5,775

324,853

2,089

8,908

2,146

1,890

5,600

238,527

1,002

714

67,171

8,186

-1,166

1,431

1,613

5,542

1,853

2,868

1,645

14,116

4,511

-1,403

1,403

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from non-recourse debt

-

-

-

-

-

-

-

-

-

57,873

32,709

55,056

36,020

-6,252

114,019

87,826

71,242

53,443

20,386

16,712

33,019

13,705

74,191

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Taxes paid related to net share settlements of equity awards

2,632

2

0

5

4,172

-632

61

35

4,356

20

30

658

3,434

0

79

540

1,717

38

964

661

1,123

0

428

1,416

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess Tax Benefit from Share-based Compensation, Financing Activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-782

-53

27

-818

157

601

82

569

537

147

793

558

314

575

181

1,127

380

511

72

-342

-71

144

220

172

3,140

771

-97

112

Proceeds from issuance of common stock in connection with ESPP

150

132

148

128

124

130

140

124

140

115

140

120

122

98

114

-2,133

2,357

120

103

120

98

110

92

101

84

91

73

89

66

87

373

0

0

-

-

-

-

-

-

-

-

Payments for retirement of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

1,035

-

0

0

0

-

-

-

-

Distribution to noncontrolling interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

5,758

0

0

0

4,012

-

-

0

0

Debt issuance costs

-

-

-

-

-

-

-

-

-

72

1,883

216

7,371

625

993

17,992

1,505

1,852

2,779

1,193

1,245

2,912

23,508

0

0

-5,896

2,300

11,367

5,650

13,944

873

0

44

-11,192

421

1,494

9,277

2,650

5,750

0

0

Payment for repurchases of common stock

9,009

0

0

0

0

24,729

0

30,264

40,182

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

2,722

23,433

53,845

Proceeds from the exercise of stock options

0

-1

182

744

333

106

409

1,112

260

176

636

2,268

3,882

980

310

1,078

979

261

476

822

1,215

897

853

2,256

3,275

484

859

1,033

3,049

7,430

1,450

165

231

0

237

1,226

983

948

876

3,733

1,138

Issuance of common stock in connection with public offering

-

-

-

-

-

-

-

-

-

0

0

-169

276,036

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash dividends paid

57,703

58,214

58,210

58,177

57,945

57,242

57,239

56,779

58,238

58,311

58,293

58,355

52,504

48,757

48,744

48,738

48,509

48,530

46,200

46,277

45,977

46,150

41,428

41,517

41,139

39,630

35,999

35,816

35,711

90,131

12,304

0

0

-

-

-

-

-

-

-

-

Net cash used in financing activities

-100,061

-17,862

-59,144

-142,973

-30,675

-55,338

16,070

-36,722

-48,976

-222,247

17,980

18,758

350,228

-22,406

90,067

3,347

48,660

-8,493

5,839

17,743

317,161

-22,279

18,563

-40,569

-44,615

-21,893

-51,400

-10,190

14,443

-100,688

-90,601

-12,970

-18,023

26,524

4,248

-3,954

427,200

-547

260,721

33,918

-50,394

Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash and Cash Equivalents

-7,364

1,711

-2,887

458

366

-4,707

-3,511

-1,226

-655

-3,181

-1,044

-772

2,679

20

855

-1,658

1,902

421

-2,544

170

-1,273

-2,085

-1,993

-221

1,040

-834

1,034

-3,558

-445

1,720

58

-1,038

995

1,554

-4,322

5,662

-5,193

1,808

3,656

-1,310

15

Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash and Cash Equivalents

-4,891

-27,481

15,399

-44,251

39,333

-42,229

-514

17,966

-24,296

58,007

-12,137

-367,681

364,999

44,580

-8,742

15,640

-36,413

12,507

87

-21,937

27,644

-11,343

15,320

-703

-14,062

-1,036

14,650

-45,213

51,969

-37,124

563

21,072

3,866

998

-13,497

-28,441

46,230

-10,414

13,631

9,859

-3,580

Non-cash Investing and Financing activities:
Right-of-use assets obtained from operating lease liabilities upon adoption of new lease standard

0

0

0

0

147,000

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Conversion of pension liability to shares of common stock

8,925

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Capital expenditures in accounts payable and accrued expenses

3,304

5,818

-1,211

1,361

5,081

11,101

-1,256

3,594

1,814

5,513

-1,014

7,228

1,312

-1,516

206

-136

2,340

-1,327

4,730

1,190

1,346

-97

3,333

6,790

1,772

1,619

-2,210

-105

2,844

-859

-3,983

-1,438

8,239

4,436

-8,984

52,704

-21,834

2,672

5,686

-5,533

8,412