$GEO
GEO GROUP INC

2021 Q3 Form 10-Q Financial Statement

#000156459021054900 Filed on November 05, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3
Revenue $557.3M $579.1M
YoY Change -3.77% -8.3%
Cost Of Revenue $399.9M $434.4M
YoY Change -7.94% -8.06%
Gross Profit $157.4M $144.7M
YoY Change 8.76% -9.05%
Gross Profit Margin 28.24% 24.99%
Selling, General & Admin $50.48M $46.60M
YoY Change 8.32% -3.92%
% of Gross Profit 32.07% 32.2%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $32.88M $33.60M
YoY Change -2.13% 3.7%
% of Gross Profit 20.89% 23.22%
Operating Expenses $83.36M $80.30M
YoY Change 3.81% -0.74%
Operating Profit $74.02M $64.73M
YoY Change 14.35% -17.18%
Interest Expense -$26.54M -$24.40M
YoY Change 8.75% -166.58%
% of Operating Profit -35.85% -37.69%
Other Income/Expense, Net
YoY Change
Pretax Income $41.40M $41.55M
YoY Change -0.36% -14.86%
Income Tax $8.395M $4.600M
% Of Pretax Income 20.28% 11.07%
Net Earnings $34.71M $39.22M
YoY Change -11.5% -14.61%
Net Earnings / Revenue 6.23% 6.77%
Basic Earnings Per Share $0.33
Diluted Earnings Per Share $287.2K $0.33
COMMON SHARES
Basic Shares Outstanding 119.8M
Diluted Shares Outstanding 120.0M

Balance Sheet

Concept 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $537.1M $53.70M
YoY Change 900.13% -0.56%
Cash & Equivalents $537.1M $53.68M
Short-Term Investments
Other Short-Term Assets $61.88M $60.60M
YoY Change 2.12% -21.71%
Inventory
Prepaid Expenses
Receivables $327.7M $380.1M
Other Receivables $6.313M $5.700M
Total Short-Term Assets $933.0M $500.1M
YoY Change 86.56% -3.38%
LONG-TERM ASSETS
Property, Plant & Equipment $2.173B $2.248B
YoY Change -3.32% 4.3%
Goodwill $755.2M $776.4M
YoY Change -2.72% 0.0%
Intangibles $172.8M $193.3M
YoY Change -10.59% -10.36%
Long-Term Investments $10.70M $9.500M
YoY Change 12.63% -12.84%
Other Assets $177.5M $151.5M
YoY Change 17.13% 111.32%
Total Long-Term Assets $3.656B $3.748B
YoY Change -2.45% -0.47%
TOTAL ASSETS
Total Short-Term Assets $933.0M $500.1M
Total Long-Term Assets $3.656B $3.748B
Total Assets $4.589B $4.248B
YoY Change 8.03% -0.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $67.41M $92.00M
YoY Change -26.73% -4.43%
Accrued Expenses $326.2M $304.8M
YoY Change 7.02% 50.63%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $27.01M $25.10M
YoY Change 7.61% 7.26%
Total Short-Term Liabilities $420.6M $421.9M
YoY Change -0.31% 3.25%
LONG-TERM LIABILITIES
Long-Term Debt $2.629B $2.343B
YoY Change 12.19% -0.53%
Other Long-Term Liabilities $191.1M $218.2M
YoY Change -12.4% 147.51%
Total Long-Term Liabilities $2.629B $2.343B
YoY Change 12.19% -4.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $420.6M $421.9M
Total Long-Term Liabilities $2.629B $2.343B
Total Liabilities $3.570B $3.315B
YoY Change 7.7% 16.2%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.019B $933.3M
YoY Change
Total Liabilities & Shareholders Equity $4.589B $4.248B
YoY Change 8.03% -0.82%

Cashflow Statement

Concept 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $34.71M $39.22M
YoY Change -11.5% -14.61%
Depreciation, Depletion And Amortization $32.88M $33.60M
YoY Change -2.13% 3.7%
Cash From Operating Activities $83.92M $101.3M
YoY Change -17.16% -4.34%
INVESTING ACTIVITIES
Capital Expenditures -$13.03M -$30.30M
YoY Change -56.98% -14.41%
Acquisitions
YoY Change
Other Investing Activities $4.909M $2.300M
YoY Change 113.43% -67.14%
Cash From Investing Activities -$8.126M -$28.00M
YoY Change -70.98% -1.41%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.108M -91.60M
YoY Change -95.52% 54.73%
NET CHANGE
Cash From Operating Activities 83.92M 101.3M
Cash From Investing Activities -8.126M -28.00M
Cash From Financing Activities -4.108M -91.60M
Net Change In Cash 71.68M -18.30M
YoY Change -491.7% -200.0%
FREE CASH FLOW
Cash From Operating Activities $83.92M $101.3M
Capital Expenditures -$13.03M -$30.30M
Free Cash Flow $96.95M $131.6M
YoY Change -26.33% -6.86%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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FinanceLeaseLiabilityNoncurrent
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CY2020Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
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CY2021Q3 geo Noncurrent Portion Of Non Recourse Debt
NoncurrentPortionOfNonRecourseDebt
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CY2020Q4 geo Noncurrent Portion Of Non Recourse Debt
NoncurrentPortionOfNonRecourseDebt
324223000
CY2021Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2629010000
CY2020Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
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us-gaap Income Tax Examination Estimate Of Possible Loss
IncomeTaxExaminationEstimateOfPossibleLoss
19600000
CY2021Q3 geo Number Of Deferred Payment Related To Payroll Taxes
NumberOfDeferredPaymentRelatedToPayrollTaxes
2
CY2021Q3 geo Cares Act Of2020 Deferred Payment Related To Payroll Taxes Amount
CARESActOf2020DeferredPaymentRelatedToPayrollTaxesAmount
20000000.0
geo Estimated Construction Existing Active Capital Projects Cost
EstimatedConstructionExistingActiveCapitalProjectsCost
16300000
geo Cost Already Spent On Existing Active Capital Projects
CostAlreadySpentOnExistingActiveCapitalProjects
4800000
geo Remaining Capital Required For Existing Active Capital Projects
RemainingCapitalRequiredForExistingActiveCapitalProjects
11500000
CY2021Q3 geo Number Of Marketed Idle Facilities
NumberOfMarketedIdleFacilities
7
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4
CY2021Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
74019000
CY2020Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
64733000
us-gaap Operating Income Loss
OperatingIncomeLoss
212065000
us-gaap Operating Income Loss
OperatingIncomeLoss
185712000
CY2021Q3 geo Segment Reporting Information Operating Income
SegmentReportingInformationOperatingIncome
124494000
CY2020Q3 geo Segment Reporting Information Operating Income
SegmentReportingInformationOperatingIncome
111377000
geo Segment Reporting Information Operating Income
SegmentReportingInformationOperatingIncome
365707000
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
956000
CY2020 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
1306000
us-gaap Defined Benefit Plan Actuarial Gain Loss
DefinedBenefitPlanActuarialGainLoss
0
CY2020 us-gaap Defined Benefit Plan Actuarial Gain Loss
DefinedBenefitPlanActuarialGainLoss
3180000
us-gaap Defined Benefit Plan Other Changes
DefinedBenefitPlanOtherChanges
0
geo Segment Reporting Information Operating Income
SegmentReportingInformationOperatingIncome
331681000
CY2021Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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CY2020Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
153642000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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CY2021Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-26535000
CY2020Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-24389000
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-78245000
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-78493000
CY2020Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
1472000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
4693000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
3035000
CY2021Q3 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
-5031000
us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
-5031000
CY2021Q3 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
-1057000
CY2020Q3 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
-271000
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
9322000
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
-1151000
CY2021Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
41396000
CY2020Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
41545000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
142804000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
109103000
CY2020Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
33530000
CY2019Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
37551000
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
1053000
CY2020 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
1254000
CY2020 us-gaap Defined Benefit Plan Other Changes
DefinedBenefitPlanOtherChanges
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us-gaap Defined Benefit Plan Benefit Obligation Benefits Paid
DefinedBenefitPlanBenefitObligationBenefitsPaid
649000
CY2020 us-gaap Defined Benefit Plan Benefit Obligation Benefits Paid
DefinedBenefitPlanBenefitObligationBenefitsPaid
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CY2021Q3 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
34890000
CY2020Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
33530000
CY2020Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
0
CY2019Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
0
us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
649000
CY2020 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
836000
us-gaap Defined Benefit Plan Plan Assets Benefits Paid
DefinedBenefitPlanPlanAssetsBenefitsPaid
649000
CY2020 us-gaap Defined Benefit Plan Plan Assets Benefits Paid
DefinedBenefitPlanPlanAssetsBenefitsPaid
836000
CY2021Q3 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
0
CY2020Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
0
CY2021Q3 us-gaap Defined Benefit Plan Funded Status Of Plan
DefinedBenefitPlanFundedStatusOfPlan
-34890000
CY2020Q4 us-gaap Defined Benefit Plan Funded Status Of Plan
DefinedBenefitPlanFundedStatusOfPlan
-33530000
CY2021Q4 us-gaap Loss Contingency Damages Awarded Value
LossContingencyDamagesAwardedValue
23200000
CY2021Q3 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
351000
CY2020Q3 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
313000
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
1053000
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
940000
CY2021Q3 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
319000
CY2020Q3 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
326000
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
956000
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
979000
CY2021Q3 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-197000
CY2020Q3 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-135000
us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-591000
us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-405000
CY2021Q3 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
867000
CY2020Q3 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
774000
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
2600000
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
2324000
CY2021Q3 us-gaap Defined Benefit Pension Plan Liabilities Noncurrent
DefinedBenefitPensionPlanLiabilitiesNoncurrent
34600000
CY2020Q4 us-gaap Defined Benefit Pension Plan Liabilities Noncurrent
DefinedBenefitPensionPlanLiabilitiesNoncurrent
33200000

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