| Changes in Shareholders' Equity that are Attributable to the Company's Shareholders and to Noncontrolling Interests |
The following tables present the changes in shareholders’ equity that are attributable to the Company’s shareholders and to noncontrolling interests for the three and six months ended June 30, 2026 and 2025 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common shares |
|
|
Additional
Paid-In |
|
|
|
|
|
Accumulated
Other
Comprehensive |
|
|
Treasury shares |
|
|
Noncontrolling |
|
|
Total
Shareholders' |
|
|
|
Shares |
|
|
Amount |
|
|
Capital |
|
|
Retained Earnings |
|
|
Loss |
|
|
Shares |
|
|
Amount |
|
|
Interests |
|
|
Equity |
|
For the Three Months Ended
June 30, 2026 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, April 1, 2026 |
|
|
133,675 |
|
|
$ |
1,422 |
|
|
$ |
1,321,056 |
|
|
$ |
332,586 |
|
|
$ |
(16,703 |
) |
|
|
8,499 |
|
|
$ |
(141,124 |
) |
|
$ |
(1,681 |
) |
|
$ |
1,495,556 |
|
Proceeds from exercise
of stock options |
|
|
211 |
|
|
|
2 |
|
|
|
2,638 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
2,640 |
|
Stock-based compensation
expense |
|
|
— |
|
|
|
— |
|
|
|
4,923 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
4,923 |
|
Restricted stock granted |
|
|
13 |
|
|
|
0 |
|
|
|
(0 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Restricted stock canceled |
|
|
(17 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Purchase of treasury shares [2] |
|
|
(1,599 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,599 |
|
|
|
(36,631 |
) |
|
|
— |
|
|
|
(36,631 |
) |
Issuance of common
stock - ESPP |
|
|
2 |
|
|
|
— |
|
|
|
43 |
|
|
|
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
43 |
|
Net income |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
47,503 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(43 |
) |
|
|
47,460 |
|
Other comprehensive income (loss) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
720 |
|
|
|
— |
|
|
|
— |
|
|
|
(31 |
) |
|
|
689 |
|
Balance, June 30, 2026 |
|
|
132,285 |
|
|
$ |
1,424 |
|
|
$ |
1,328,660 |
|
|
$ |
380,089 |
|
|
$ |
(15,983 |
) |
|
|
10,098 |
|
|
$ |
(177,755 |
) |
|
$ |
(1,755 |
) |
|
$ |
1,514,680 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common shares |
|
|
Additional
Paid-In |
|
|
|
|
|
Accumulated
Other
Comprehensive |
|
|
Treasury shares |
|
|
Noncontrolling |
|
|
Total
Shareholders' |
|
|
|
Shares |
|
|
Amount |
|
|
Capital |
|
|
Retained Earnings (Accumulated Deficit) |
|
|
Loss |
|
|
Shares |
|
|
Amount |
|
|
Interests |
|
|
Equity |
|
For the Three Months Ended
June 30, 2025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, April 1, 2025 |
|
|
141,205 |
|
|
$ |
1,412 |
|
|
$ |
1,302,902 |
|
|
$ |
59,438 |
|
|
$ |
(20,654 |
) |
|
|
— |
|
|
$ |
— |
|
|
$ |
(1,550 |
) |
|
$ |
1,341,548 |
|
Proceeds from exercise of
stock options |
|
|
65 |
|
|
|
1 |
|
|
|
862 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
863 |
|
Stock-based compensation
expense |
|
|
— |
|
|
|
— |
|
|
|
5,506 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
5,506 |
|
Restricted stock canceled |
|
|
(27 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
- |
|
Issuance of common
stock - ESPP |
|
|
2 |
|
|
|
— |
|
|
|
47 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
47 |
|
Net income |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
29,108 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(34 |
) |
|
|
29,074 |
|
Other comprehensive income (loss) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
4,400 |
|
|
|
— |
|
|
|
— |
|
|
|
(18 |
) |
|
|
4,382 |
|
Balance, June 30, 2025 |
|
|
141,245 |
|
|
$ |
1,413 |
|
|
$ |
1,309,317 |
|
|
$ |
88,546 |
|
|
$ |
(16,254 |
) |
|
|
— |
|
|
$ |
— |
|
|
$ |
(1,602 |
) |
|
$ |
1,381,420 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common shares |
|
|
Additional
Paid-In |
|
|
|
|
|
Accumulated
Other
Comprehensive |
|
|
Treasury shares |
|
|
Noncontrolling |
|
|
Total
Shareholders' |
|
|
|
Shares |
|
|
Amount |
|
|
Capital |
|
|
Retained Earnings |
|
|
Loss |
|
|
Shares |
|
|
Amount |
|
|
Interests |
|
|
Equity |
|
For the Six Months Ended
June 30, 2026 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance January 1, 2026 |
|
|
136,243 |
|
|
$ |
1,412 |
|
|
$ |
1,319,135 |
|
|
$ |
294,252 |
|
|
$ |
(17,972 |
) |
|
|
4,939 |
|
|
$ |
(91,021 |
) |
|
$ |
(1,672 |
) |
|
$ |
1,504,134 |
|
Proceeds from exercise of
stock options |
|
|
253 |
|
|
|
3 |
|
|
|
3,012 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
3,015 |
|
Stock-based compensation
expense |
|
|
— |
|
|
|
— |
|
|
|
12,689 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
12,689 |
|
Restricted stock granted |
|
|
1,527 |
|
|
|
15 |
|
|
|
(15 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Restricted stock canceled |
|
|
(162 |
) |
|
|
(2 |
) |
|
|
2 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Shares withheld for net
settlements of share-
based awards [1] |
|
|
(422 |
) |
|
|
(4 |
) |
|
|
(6,244 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(6,248 |
) |
Issuance of common
stock - ESPP |
|
|
5 |
|
|
|
— |
|
|
|
81 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
81 |
|
Purchase of treasury shares [2] |
|
|
(5,159 |
) |
|
|
— |
|
|
|
— |
|
|
|
|
|
|
— |
|
|
|
5,159 |
|
|
|
(86,734 |
) |
|
|
— |
|
|
|
(86,734 |
) |
Net income |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
85,837 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(71 |
) |
|
|
85,766 |
|
Other comprehensive income (loss) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,989 |
|
|
|
— |
|
|
|
— |
|
|
|
(12 |
) |
|
|
1,977 |
|
Balance, June 30, 2026 |
|
|
132,285 |
|
|
$ |
1,424 |
|
|
$ |
1,328,660 |
|
|
$ |
380,089 |
|
|
$ |
(15,983 |
) |
|
|
10,098 |
|
|
$ |
(177,755 |
) |
|
$ |
(1,755 |
) |
|
$ |
1,514,680 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common shares |
|
|
Additional
Paid-In |
|
|
|
|
|
Accumulated
Other
Comprehensive |
|
|
Treasury shares |
|
|
Noncontrolling |
|
|
Total
Shareholders' |
|
|
|
Shares |
|
|
Amount |
|
|
Capital |
|
|
Retained Earnings (Accumulated Deficit) |
|
|
Loss |
|
|
Shares |
|
|
Amount |
|
|
Interests |
|
|
Equity |
|
For the Six Months Ended
June 30, 2025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, January 1, 2025 |
|
|
140,181 |
|
|
$ |
1,402 |
|
|
$ |
1,315,256 |
|
|
$ |
39,880 |
|
|
$ |
(21,602 |
) |
|
|
— |
|
|
$ |
— |
|
|
$ |
(1,522 |
) |
|
$ |
1,333,414 |
|
Proceeds from exercise
of stock options |
|
|
274 |
|
|
|
3 |
|
|
|
4,166 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
4,169 |
|
Stock-based compensation
expense |
|
|
— |
|
|
|
— |
|
|
|
11,994 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
11,994 |
|
Restricted stock granted |
|
|
1,827 |
|
|
|
18 |
|
|
|
(18 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
- |
|
Restricted stock canceled |
|
|
(134 |
) |
|
|
(1 |
) |
|
|
1 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
- |
|
Shares withheld for net
settlements of share-
based awards [1] |
|
|
(906 |
) |
|
|
(9 |
) |
|
|
(22,168 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(22,177 |
) |
Issuance of common
stock - ESPP |
|
|
3 |
|
|
|
— |
|
|
|
86 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
86 |
|
Net income |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
48,666 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(50 |
) |
|
|
48,616 |
|
Other comprehensive
income (loss) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
5,348 |
|
|
|
— |
|
|
|
— |
|
|
|
(30 |
) |
|
|
5,318 |
|
Balance, June 30, 2025 |
|
|
141,245 |
|
|
$ |
1,413 |
|
|
$ |
1,309,317 |
|
|
$ |
88,546 |
|
|
$ |
(16,254 |
) |
|
|
— |
|
|
$ |
- |
|
|
$ |
(1,602 |
) |
|
$ |
1,381,420 |
|
[1] The Company withheld shares through net settlements to satisfy statutory tax withholding requirements upon the vesting of shares of restricted stock held by employees. [2] During the six months ended June 30, 2026, the Company repurchased 5,158,349 shares of its common stock in the open market.
|
| Schedule of Accumulated Other Comprehensive Loss |
The components of accumulated other comprehensive loss attributable to GEO within shareholders' equity are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended June 30, 2026 |
|
|
|
(In thousands) |
|
|
|
Foreign currency
translation
adjustments,
net of tax (1) |
|
|
Change
in fair
value of
derivatives,
net of tax |
|
|
Change in marketable securities, net of tax |
|
|
Pension
adjustments,
net of tax |
|
|
Total |
|
Balance, January 1, 2026 |
|
$ |
(21,440 |
) |
|
$ |
2,744 |
|
|
$ |
476 |
|
|
$ |
248 |
|
|
$ |
(17,972 |
) |
Current-period other comprehensive income (loss) |
|
|
2,255 |
|
|
|
281 |
|
|
|
(559 |
) |
|
|
12 |
|
|
|
1,989 |
|
Balance, June 30, 2026 |
|
$ |
(19,185 |
) |
|
$ |
3,025 |
|
|
$ |
(83 |
) |
|
$ |
260 |
|
|
$ |
(15,983 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended June 30, 2025 |
|
|
|
(In thousands) |
|
|
|
Foreign currency
translation
adjustments,
net of tax (1) |
|
|
Change
in fair
value of
derivatives,
net of tax |
|
|
Change in marketable securities, net of tax |
|
|
Pension
adjustments,
net of tax |
|
|
Total |
|
Balance, January 1, 2025 |
|
$ |
(26,939 |
) |
|
$ |
3,833 |
|
|
$ |
(15 |
) |
|
$ |
1,519 |
|
|
$ |
(21,602 |
) |
Current-period other comprehensive income (loss) |
|
|
6,051 |
|
|
|
(1,015 |
) |
|
|
410 |
|
|
|
(98 |
) |
|
|
5,348 |
|
Balance, June 30, 2025 |
|
$ |
(20,888 |
) |
|
$ |
2,818 |
|
|
$ |
395 |
|
|
$ |
1,421 |
|
|
$ |
(16,254 |
) |
(1)The foreign currency translation related to noncontrolling interests was not significant at June 30, 2026 or 2025. |