Basic earnings per share of common stock is computed by dividing the net income attributable to The GEO Group, Inc. by the weighted-average number of common shares outstanding for the period. The calculation of diluted earnings per share is similar to that of basic earnings per share except that the denominator includes dilutive common stock equivalents such as stock options and shares of restricted stock. Basic and diluted earnings per share were calculated for the three and six months ended June 30, 2026 and 2025 as follows (in thousands, except per share data):


	Three Months Ended				Six Months Ended
	June 30, 2026		June 30, 2025		June 30, 2026		June 30, 2025
Net income	$	47,460	$	29,074	$	85,766	$	48,616
Net loss attributable to noncontrolling interests		43		34		71		50
Net income attributable to The GEO Group, Inc.		47,503		29,108		85,837		48,666
Basic earnings per share attributable to The GEO Group, Inc.
Weighted average shares outstanding		130,603		138,539		131,602		137,844
Per share amount	$	0.36	$	0.21	$	0.65	$	0.35
Diluted earnings per share attributable to The GEO Group, Inc.
Weighted average shares outstanding		130,603		138,539		131,602		137,844
Dilutive effect of equity incentive plans		1,421		1,931		1,423		2,866
Weighted average shares assuming dilution		132,024		140,470		133,025		140,710
Per share amount	$	0.36	$	0.21	$	0.65	$	0.35

For the three months ended June 30, 2026, 591,094 weighted average shares of common stock underlying options were excluded from the computation of diluted earnings per share ("EPS") because the effect would be anti-dilutive. There were 330,951 common stock equivalents from restricted shares that were anti-dilutive for the period.

For the three months ended June 30, 2025, 557,387 weighted average shares of common stock underlying options were excluded from the computation of diluted EPS because the effect would be anti-dilutive. There were 68,750 common stock equivalents from restricted shares that were anti-dilutive for the period.

For the six months ended June 30, 2026, 920,894 weighted average shares of common stock underlying options were excluded from the computation of diluted earnings per share ("EPS") because the effect would be anti-dilutive. There were 390,951 common stock equivalents from restricted shares that were anti-dilutive for the period.

For the six months ended June 30, 2025, 438,418 weighted average shares of common stock underlying options were excluded from the computation of diluted EPS because the effect would be anti-dilutive. There were 45,580 common stock equivalents from restricted shares that were anti-dilutive for the period.