v3.26.1
SEGMENT REPORTING
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
SEGMENT REPORTING
10.
SEGMENT REPORTING

The President and Chief Executive Officer of the Company is identified as the Chief Operating Decision Maker ("CODM"). As a result of the acquisition of CSP effective April 1, 2026 and to better reflect the Company's operational strategy, CoreCivic redefined its operating and reportable segments to align its financial reporting with the manner in which CoreCivic manages its businesses. CoreCivic's disclosed measure of segment operating results has been updated consistent with the revised manner in which the Company's CODM assesses the Company's financial performance and allocates resources. All prior-period segment data have been retrospectively adjusted. The CODM routinely reviews segment net operating income compared to budget and prior periods to assess performance and allocate resources within reportable segments.

As of June 30, 2026, CoreCivic operated 64 correctional, detention, and reentry facilities, 60 of which the Company owned or controlled via a long-term lease. CoreCivic also offered complementary services to the corrections industry that included pharmaceutical, transportation, and case management services, and owned five properties held for lease to government agencies. All revenues are attributed to CoreCivic's operations and long-lived assets located in the U.S. Management views CoreCivic's operating results in three operating segments, CoreCivic Residential, CoreCivic Services, and CoreCivic Properties, each of which is a reportable segment. CoreCivic Residential includes the operating results of those correctional, detention, and reentry facilities placed into service that were owned or controlled via a long-term lease and managed by CoreCivic, as well as those correctional, detention, and reentry facilities owned by a third party and managed by CoreCivic. CoreCivic Services includes the operating results of CSP, a subsidiary of the Company that provides mail order pharmacy services to over 600 correctional facilities, including correctional facilities owned or operated by CoreCivic, across 32 states. CoreCivic Services also includes the operating results of TransCor America, LLC, a subsidiary of the Company that provides transportation services to governmental agencies and CoreCivic, as well as the operating results of Recovery Monitoring Solutions, a subsidiary of the Company that provides electronic monitoring and case management services. CoreCivic Properties includes the operating results of those properties held for lease to government agencies. The operating performance of the three segments can be measured based on their net operating income. CoreCivic defines net operating income as a reportable segment's revenue less operating expenses.

The revenue and net operating income for each of the three segments and a reconciliation to CoreCivic's income before income taxes is as follows for the three and six months ended June 30, 2026 and 2025, and for the three months ended March 31, 2026 and 2025 (in thousands):

 

For the Three Months Ended June 30, 2026

 

Residential

 

 

Services

 

 

Properties

 

 

Eliminations

 

 

Consolidated

 

Revenue

 

$

614,869

 

 

$

88,739

 

 

$

4,688

 

 

$

(23,380

)

 

$

684,916

 

Operating expenses (1)

 

 

477,264

 

 

 

79,704

 

 

 

2,375

 

 

 

(23,380

)

 

 

535,963

 

Net operating income

 

$

137,605

 

 

$

9,035

 

 

$

2,313

 

 

$

—

 

 

$

148,953

 

Other revenue (expense):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1

 

Other operating expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(20

)

General and administrative

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(44,126

)

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(35,814

)

Interest expense, net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(22,279

)

Other income (expense)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

797

 

 Income before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

$

47,512

 

 

 

For the Three Months Ended June 30, 2025

 

Residential

 

 

Services

 

 

Properties

 

 

Eliminations

 

 

Consolidated

 

Revenue

 

$

523,319

 

 

$

19,173

 

 

$

4,692

 

 

$

(9,019

)

 

$

538,165

 

Operating expenses (1)

 

 

386,716

 

 

 

18,484

 

 

 

2,143

 

 

 

(9,019

)

 

 

398,324

 

Net operating income

 

$

136,603

 

 

$

689

 

 

$

2,549

 

 

$

—

 

 

$

139,841

 

Other revenue (expense):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

—

 

Other operating expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(18

)

General and administrative

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(43,882

)

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(31,108

)

Interest expense, net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(12,539

)

Other income (expense)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(35

)

 Income before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

$

52,259

 

 

 

For the Six Months Ended June 30, 2026

 

Residential

 

 

Services

 

 

Properties

 

 

Eliminations

 

 

Consolidated

 

Revenue

 

$

1,215,193

 

 

$

113,361

 

 

$

9,390

 

 

$

(38,299

)

 

$

1,299,645

 

Operating expenses (1)

 

 

934,783

 

 

 

102,483

 

 

 

4,694

 

 

 

(38,299

)

 

 

1,003,661

 

Net operating income

 

$

280,410

 

 

$

10,878

 

 

$

4,696

 

 

$

—

 

 

$

295,984

 

Other revenue (expense):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1

 

Other operating expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(41

)

General and administrative

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(87,802

)

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(69,149

)

Interest expense, net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(39,960

)

Other income (expense)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

789

 

 Income before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

$

99,822

 

 

 

 

For the Six Months Ended June 30, 2025

 

Residential

 

 

Services

 

 

Properties

 

 

Eliminations

 

 

Consolidated

 

Revenue

 

$

998,732

 

 

$

36,999

 

 

$

9,334

 

 

$

(18,366

)

 

$

1,026,699

 

Operating expenses (1)

 

 

750,742

 

 

 

35,401

 

 

 

5,266

 

 

 

(18,366

)

 

 

773,043

 

Net operating income

 

$

247,990

 

 

$

1,598

 

 

$

4,068

 

 

$

—

 

 

$

253,656

 

Other revenue (expense):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

93

 

Other operating expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(36

)

General and administrative

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(79,898

)

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(61,626

)

Interest expense, net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(27,770

)

Other income (expense)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(70

)

 Income before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

$

84,349

 

 

 

For the Three Months Ended March 31, 2026

 

Residential

 

 

Services

 

 

Properties

 

 

Eliminations

 

 

Consolidated

 

Revenue

 

$

600,324

 

 

$

24,622

 

 

$

4,702

 

 

$

(14,919

)

 

$

614,729

 

Operating expenses (1)

 

 

457,519

 

 

 

22,779

 

 

 

2,319

 

 

 

(14,919

)

 

 

467,698

 

Net operating income

 

$

142,805

 

 

$

1,843

 

 

$

2,383

 

 

$

—

 

 

$

147,031

 

Other revenue (expense):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

—

 

Other operating expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(21

)

General and administrative

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(43,676

)

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(33,335

)

Interest expense, net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(17,681

)

Other income (expense)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(8

)

 Income before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

$

52,310

 

 

 

For the Three Months Ended March 31, 2025

 

Residential

 

 

Services

 

 

Properties

 

 

Eliminations

 

 

Consolidated

 

Revenue

 

$

475,413

 

 

$

17,826

 

 

$

4,642

 

 

$

(9,347

)

 

$

488,534

 

Operating expenses (1)

 

 

364,026

 

 

 

16,917

 

 

 

3,123

 

 

 

(9,347

)

 

 

374,719

 

Net operating income

 

$

111,387

 

 

$

909

 

 

$

1,519

 

 

$

—

 

 

$

113,815

 

Other revenue (expense):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

93

 

Other operating expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(18

)

General and administrative

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(36,016

)

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(30,518

)

Interest expense, net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(15,231

)

Other income (expense)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(35

)

 Income before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

$

32,090

 

 

(1) Salaries and benefits expense is the only significant reportable segment expense regularly reviewed by the CODM for the Residential segment and represents the majority of segment-level operating expenses given that substantial staff are required to operate the facilities and is the primary factor that drives operating expenses and profitability. Salaries and benefits expense and cost of goods sold are significant reportable segment expenses regularly reviewed by the CODM for the Services segment and are the primary factors driving operating expenses and profitability. Conversely, the Properties segment does not have a significant segment expense given the fact that those properties are operated by government agencies. The following table summarizes the significant segment expense, along with other segment operating expenses to reconcile to total segment operating expenses for both the Residential and Services segments, for the three and six months ended June 30, 2026 and 2025, and for the three months ended March 31, 2026 and 2025 (in thousands):

 

 

 

For the Three Months
 Ended
June 30,

 

 

For the Six Months
Ended
June 30,

 

 

For the Three Months
Ended
March 31,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Residential:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Salaries and benefits

 

$

294,623

 

 

$

229,233

 

 

$

575,627

 

 

$

453,762

 

 

$

281,004

 

 

$

224,529

 

Other segment operating expenses (1)

 

 

182,641

 

 

 

157,483

 

 

 

359,156

 

 

 

296,980

 

 

 

176,515

 

 

 

139,497

 

Residential operating expenses

 

 

477,264

 

 

 

386,716

 

 

 

934,783

 

 

 

750,742

 

 

 

457,519

 

 

 

364,026

 

Services:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Salaries and benefits

 

 

19,243

 

 

 

10,127

 

 

 

32,385

 

 

 

19,453

 

 

 

13,142

 

 

 

9,326

 

Cost of goods sold

 

 

45,687

 

 

 

—

 

 

 

45,687

 

 

 

—

 

 

 

—

 

 

 

—

 

Other segment operating expenses (2)

 

 

14,774

 

 

 

8,357

 

 

 

24,411

 

 

 

15,948

 

 

 

9,637

 

 

 

7,591

 

Services operating expenses

 

$

79,704

 

 

$

18,484

 

 

$

102,483

 

 

$

35,401

 

 

$

22,779

 

 

$

16,917

 

(1) Other segment operating expenses for the reportable segment include, but are not limited to, utilities, property taxes, repairs and maintenance, food, medical, vocational and educational programming, personal care and other resident supplies.

(2) Other segment operating expenses for the reportable segment include, but are not limited to, transportation expenses, including fuel and repairs and maintenance, and other pharmaceutical expenses.

The following table summarizes capital expenditures including accrued amounts for the three and six months ended June 30, 2026 and 2025, and for the three months ended March 31, 2026 and 2025 (in thousands):

 

 

 

For the Three Months
 Ended
June 30,

 

 

For the Six Months
Ended
June 30,

 

 

For the Three Months
Ended
March 31,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Capital expenditures:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential

 

$

32,995

 

 

$

28,495

 

 

$

49,297

 

 

$

44,422

 

 

$

16,302

 

 

$

15,927

 

Services

 

 

2,359

 

 

 

3,468

 

 

 

4,669

 

 

 

8,585

 

 

 

2,310

 

 

 

5,117

 

Properties

 

 

392

 

 

 

387

 

 

 

527

 

 

 

698

 

 

 

135

 

 

 

311

 

Corporate and other

 

 

2,337

 

 

 

2,512

 

 

 

4,280

 

 

 

5,686

 

 

 

1,943

 

 

 

3,174

 

Total capital expenditures

 

$

38,083

 

 

$

34,862

 

 

$

58,773

 

 

$

59,391

 

 

$

20,690

 

 

$

24,529

 

The total assets are as follows (in thousands):

 

 

June 30, 2026

 

 

December 31, 2025

 

Assets:

 

 

 

 

 

 

     Residential

 

$

2,694,591

 

 

$

2,713,142

 

     Services

 

 

280,824

 

 

 

55,159

 

     Properties

 

 

295,556

 

 

 

301,888

 

     Corporate and other

 

 

184,668

 

 

 

186,554

 

Total assets

 

$

3,455,639

 

 

$

3,256,743