v3.26.1
Commitments, Contingencies and Other Matters (Tables)
6 Months Ended
Jun. 30, 2026
Commitments and Contingencies Disclosure [Abstract]  
Summary of Idled Facilities and Respective Carrying Values The following table summarizes each of the idled facilities and their respective carrying values, excluding equipment and other assets that can be easily transferred for use at other facilities. There was no indication of impairment related to the Company's idle facilities as of June 30, 2026.

 

 

 

 

 

 

 

 

 

 

Secure
Services

 

 

Reentry
Services

 

 

Total

 

 

 

 

 

Secure
Services

 

 

Reentry
Services

 

 

Net Carrying
Value

 

 

Net Carrying
Value

 

 

Net Carrying
Value

 

Facility

 

Year Idled

 

Design
Capacity (beds)

 

 

Design
Capacity (beds)

 

 

June 30, 2026

 

 

June 30, 2026

 

 

June 30, 2026

 

Rivers Correctional Facility [1]

 

2021

 

 

1,320

 

 

 

 

 

 

35,273

 

 

 

 

 

 

35,273

 

Big Spring Correctional Facility

 

2021

 

 

924

 

 

 

 

 

 

30,445

 

 

 

 

 

 

30,445

 

Flightline Correctional Facility

 

2021

 

 

1,452

 

 

 

 

 

 

39,745

 

 

 

 

 

 

39,745

 

McFarland Facility

 

2020

 

 

300

 

 

 

 

 

 

10,131

 

 

 

 

 

 

10,131

 

Lea County Correctional Facility

 

2025

 

 

1,200

 

 

 

 

 

 

44,535

 

 

 

 

 

 

44,535

 

Cheyenne Mountain Recovery Center

 

2020

 

 

700

 

 

 

 

 

 

16,778

 

 

 

 

 

 

16,778

 

Philadelphia Residential

 

2024

 

 

 

 

 

400

 

 

 

 

 

 

5,819

 

 

 

5,819

 

Coleman Hall

 

2017

 

 

 

 

 

350

 

 

 

 

 

 

5,358

 

 

 

5,358

 

Total

 

 

 

 

5,896

 

 

 

750

 

 

$

176,907

 

 

$

11,177

 

 

$

188,084

 

 

[1] On July 29, 2026, the Company announced that it has entered into a five-year support services contract with ICE for the activation of a federal immigration processing center at the company-owned 1,320-bed Rivers Facility (the “Facility”) in Winton, North Carolina.

Summary of Future Minimum Rentals to be Received on Leases As of June 30, 2026, future minimum rentals to be received on these leases are as follows:

 

 

 

Annual Rental

 

Year

 

(in thousands)

 

Remainder of 2026

 

$

7,829

 

2027

 

 

15,934

 

2028

 

 

14,601

 

2029

 

 

7,124

 

2030

 

 

5,812

 

Thereafter

 

 

49,574

 

 Total

 

$

100,874