$GEO
GEO GROUP INC

2020 Q4 Form 10-Q Financial Statement

#000156459020051585 Filed on November 06, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q3
Revenue $578.1M $579.1M $631.6M
YoY Change -7.01% -8.3% 8.23%
Cost Of Revenue $437.3M $434.4M $472.5M
YoY Change -8.53% -8.06% 8.67%
Gross Profit $140.9M $144.7M $159.1M
YoY Change -1.88% -9.05% 6.99%
Gross Profit Margin 24.37% 24.99% 25.19%
Selling, General & Admin $47.40M $46.60M $48.50M
YoY Change 8.47% -3.92% 1.89%
% of Gross Profit 33.64% 32.2% 30.48%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $34.30M $33.60M $32.40M
YoY Change 2.08% 3.7% 3.51%
% of Gross Profit 24.34% 23.22% 20.36%
Operating Expenses $81.60M $80.30M $80.90M
YoY Change 5.43% -0.74% 2.41%
Operating Profit $38.01M $64.73M $78.16M
YoY Change -42.67% -17.18% 12.01%
Interest Expense -$25.30M -$24.40M $36.65M
YoY Change -13.95% -166.58% -3.54%
% of Operating Profit -66.56% -37.69% 46.89%
Other Income/Expense, Net
YoY Change
Pretax Income $15.00M $41.55M $48.79M
YoY Change -59.79% -14.86% 21.33%
Income Tax $5.100M $4.600M $5.137M
% Of Pretax Income 34.0% 11.07% 10.53%
Net Earnings $11.91M $39.22M $45.93M
YoY Change -68.7% -14.61% 16.91%
Net Earnings / Revenue 2.06% 6.77% 7.27%
Basic Earnings Per Share $0.09 $0.33 $0.39
Diluted Earnings Per Share $0.09 $0.33 $0.39
COMMON SHARES
Basic Shares Outstanding 119.8M 119.2M
Diluted Shares Outstanding 120.0M 119.3M

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $283.5M $53.70M $54.00M
YoY Change 772.31% -0.56% -18.18%
Cash & Equivalents $283.5M $53.68M $54.03M
Short-Term Investments
Other Short-Term Assets $58.80M $60.60M $77.40M
YoY Change -19.56% -21.71% -16.32%
Inventory
Prepaid Expenses
Receivables $362.7M $380.1M $378.0M
Other Receivables $6.300M $5.700M $8.200M
Total Short-Term Assets $711.3M $500.1M $517.6M
YoY Change 31.31% -3.38% -9.44%
LONG-TERM ASSETS
Property, Plant & Equipment $2.122B $2.248B $2.155B
YoY Change -1.05% 4.3% 0.35%
Goodwill $755.3M $776.4M $776.3M
YoY Change -2.72% 0.0% 0.0%
Intangibles $187.7M $193.3M $215.6M
YoY Change -10.63% -10.36% -9.39%
Long-Term Investments $11.10M $9.500M $10.90M
YoY Change -9.76% -12.84% -14.84%
Other Assets $79.19M $151.5M $71.69M
YoY Change -4.79% 111.32% 8.92%
Total Long-Term Assets $3.749B $3.748B $3.765B
YoY Change -0.72% -0.47% 2.57%
TOTAL ASSETS
Total Short-Term Assets $711.3M $500.1M $517.6M
Total Long-Term Assets $3.749B $3.748B $3.765B
Total Assets $4.460B $4.248B $4.283B
YoY Change 3.3% -0.82% 0.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $85.86M $92.00M $96.26M
YoY Change -13.47% -4.43% 16.99%
Accrued Expenses $202.4M $304.8M $202.4M
YoY Change 5.62% 50.63% 2.48%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $26.56M $25.10M $23.40M
YoY Change 8.21% 7.26% -93.12%
Total Short-Term Liabilities $411.3M $421.9M $408.6M
YoY Change 3.88% 3.25% -39.33%
LONG-TERM LIABILITIES
Long-Term Debt $2.562B $2.343B $2.356B
YoY Change 6.38% -0.53% -0.32%
Other Long-Term Liabilities $115.6M $218.2M $88.16M
YoY Change 30.53% 147.51% -1.18%
Total Long-Term Liabilities $2.677B $2.343B $2.444B
YoY Change 7.23% -4.11% -0.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $411.3M $421.9M $408.6M
Total Long-Term Liabilities $2.677B $2.343B $2.444B
Total Liabilities $3.089B $3.315B $2.852B
YoY Change 6.77% 16.2% -8.75%
SHAREHOLDERS EQUITY
Retained Earnings -$222.9M -$99.61M
YoY Change 86.09% 243.26%
Common Stock $1.262M $1.255M
YoY Change 0.64% 0.56%
Preferred Stock
YoY Change
Treasury Stock (at cost) $104.9M $95.18M
YoY Change 10.27% 35.1%
Treasury Stock Shares $4.835M 4.210M shares
Shareholders Equity $913.1M $933.3M $1.008B
YoY Change
Total Liabilities & Shareholders Equity $4.460B $4.248B $4.283B
YoY Change 3.3% -0.82% 0.96%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income $11.91M $39.22M $45.93M
YoY Change -68.7% -14.61% 16.91%
Depreciation, Depletion And Amortization $34.30M $33.60M $32.40M
YoY Change 2.08% 3.7% 3.51%
Cash From Operating Activities $83.60M $101.3M $105.9M
YoY Change 453.64% -4.34% 165.41%
INVESTING ACTIVITIES
Capital Expenditures -$25.00M -$30.30M -$35.40M
YoY Change -5.3% -14.41% -34.93%
Acquisitions
YoY Change
Other Investing Activities -$2.000M $2.300M $7.000M
YoY Change 1900.0% -67.14% 438.46%
Cash From Investing Activities -$27.00M -$28.00M -$28.40M
YoY Change 1.89% -1.41% -46.42%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 162.3M -91.60M -59.20M
YoY Change -1006.7% 54.73% -467.7%
NET CHANGE
Cash From Operating Activities 83.60M 101.3M 105.9M
Cash From Investing Activities -27.00M -28.00M -28.40M
Cash From Financing Activities 162.3M -91.60M -59.20M
Net Change In Cash 218.9M -18.30M 18.30M
YoY Change -847.1% -200.0% 510.0%
FREE CASH FLOW
Cash From Operating Activities $83.60M $101.3M $105.9M
Capital Expenditures -$25.00M -$30.30M -$35.40M
Free Cash Flow $108.6M $131.6M $141.3M
YoY Change 161.69% -6.86% 49.84%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
geo Minimum Ageto Be Eligibleto Receive Lump Sum Payment Upon Benefit
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geo Conversion Of Pension Liability To Shares Of Common Stock
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CY2020Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
4896000
CY2019Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
4570000
CY2020Q3 us-gaap Other Long Term Debt
OtherLongTermDebt
42662000
CY2019Q4 us-gaap Other Long Term Debt
OtherLongTermDebt
43410000
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.33
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.39
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.84
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.08
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
119826000
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
119209000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
119677000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
119052000
CY2020Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
206000
CY2019Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
73000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
287000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
262000
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
120032000
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
119282000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
119964000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
119314000
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.33
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.39
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.84
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.08
CY2020Q3 geo Long Term Debt Non Recourse Debt And Capital Lease Obligation Including Current Portion Net Of Discount
LongTermDebtNonRecourseDebtAndCapitalLeaseObligationIncludingCurrentPortionNetOfDiscount
2681293000
CY2019Q4 geo Long Term Debt Non Recourse Debt And Capital Lease Obligation Including Current Portion Net Of Discount
LongTermDebtNonRecourseDebtAndCapitalLeaseObligationIncludingCurrentPortionNetOfDiscount
2744695000
CY2020Q3 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
25073000
CY2019Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
24208000
CY2020Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
2979000
CY2019Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
2954000
CY2020Q3 geo Noncurrent Portion Of Non Recourse Debt
NoncurrentPortionOfNonRecourseDebt
309899000
CY2019Q4 geo Noncurrent Portion Of Non Recourse Debt
NoncurrentPortionOfNonRecourseDebt
309236000
CY2020Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2343342000
CY2019Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2408297000
us-gaap Income Tax Examination Estimate Of Possible Loss
IncomeTaxExaminationEstimateOfPossibleLoss
19400000
CY2020Q3 geo Number Of Deferred Payment Related To Payroll Taxes
NumberOfDeferredPaymentRelatedToPayrollTaxes
2
CY2020Q3 geo Cares Act Of2020 Deferred Payment Related To Payroll Taxes Amount
CARESActOf2020DeferredPaymentRelatedToPayrollTaxesAmount
27600000
geo Estimated Construction Existing Active Capital Projects Cost
EstimatedConstructionExistingActiveCapitalProjectsCost
62000000
geo Cost Already Spent On Existing Active Capital Projects
CostAlreadySpentOnExistingActiveCapitalProjects
42000000
CY2019Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
0
geo Remaining Capital Required For Existing Active Capital Projects
RemainingCapitalRequiredForExistingActiveCapitalProjects
20000000
CY2020Q3 geo Number Of Vacant Beds At Idle Facilities Marketed To Potential Customers
NumberOfVacantBedsAtIdleFacilitiesMarketedToPotentialCustomers
2100
CY2020Q3 geo Number Of Marketed Idle Facilities
NumberOfMarketedIdleFacilities
4
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4
CY2020Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
64462000
CY2019Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
78159000
us-gaap Operating Income Loss
OperatingIncomeLoss
184561000
us-gaap Operating Income Loss
OperatingIncomeLoss
234111000
CY2020Q3 geo Segment Reporting Information Operating Income
SegmentReportingInformationOperatingIncome
111106000
CY2019Q3 geo Segment Reporting Information Operating Income
SegmentReportingInformationOperatingIncome
126647000
geo Segment Reporting Information Operating Income
SegmentReportingInformationOperatingIncome
330530000
geo Segment Reporting Information Operating Income
SegmentReportingInformationOperatingIncome
376294000
CY2020Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
46644000
CY2019Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
48488000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
145969000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
142183000
CY2020Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-24389000
CY2019Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-29959000
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-78493000
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-92730000
CY2020Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
1472000
CY2019Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
594000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
3035000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-5147000
CY2020Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
41545000
CY2019Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
48794000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
109103000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
136234000
CY2019Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
37551000
CY2018Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
32474000
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
979000
CY2019 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
1393000
us-gaap Defined Benefit Plan Actuarial Gain Loss
DefinedBenefitPlanActuarialGainLoss
0
CY2019 us-gaap Defined Benefit Plan Actuarial Gain Loss
DefinedBenefitPlanActuarialGainLoss
3449000
us-gaap Defined Benefit Plan Other Changes
DefinedBenefitPlanOtherChanges
-8925000
CY2019 us-gaap Defined Benefit Plan Other Changes
DefinedBenefitPlanOtherChanges
0
us-gaap Defined Benefit Plan Benefit Obligation Benefits Paid
DefinedBenefitPlanBenefitObligationBenefitsPaid
563000
CY2019 us-gaap Defined Benefit Plan Benefit Obligation Benefits Paid
DefinedBenefitPlanBenefitObligationBenefitsPaid
763000
CY2020Q3 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
29982000
CY2019Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
37551000
CY2019Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
0
CY2018Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
0
us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
563000
CY2019 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
763000
us-gaap Defined Benefit Plan Plan Assets Benefits Paid
DefinedBenefitPlanPlanAssetsBenefitsPaid
563000
CY2019 us-gaap Defined Benefit Plan Plan Assets Benefits Paid
DefinedBenefitPlanPlanAssetsBenefitsPaid
763000
CY2020Q3 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
0
CY2020Q3 us-gaap Defined Benefit Plan Funded Status Of Plan
DefinedBenefitPlanFundedStatusOfPlan
29982000
CY2019Q4 us-gaap Defined Benefit Plan Funded Status Of Plan
DefinedBenefitPlanFundedStatusOfPlan
37551000
CY2020Q3 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
313000
CY2019Q3 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
300000
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
940000
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
749000
CY2020Q3 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
326000
CY2019Q3 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
348000
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
979000
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
1045000
CY2020Q3 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-135000
CY2019Q3 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-53000
us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-405000
us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-158000
CY2020Q3 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
774000
CY2019Q3 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
701000
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
2324000
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
1952000
CY2020Q3 us-gaap Defined Benefit Pension Plan Liabilities Noncurrent
DefinedBenefitPensionPlanLiabilitiesNoncurrent
29700000
CY2019Q4 us-gaap Defined Benefit Pension Plan Liabilities Noncurrent
DefinedBenefitPensionPlanLiabilitiesNoncurrent
33400000
CY2020Q4 us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2020-10-06
CY2020Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.34
CY2020Q4 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2020-10-23
CY2020Q4 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2020-10-16

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