| Schedule of Reconciliation of Total Operating Income from its Reportable Segments to Income Before Income Taxes and Equity in Earnings |
Summarized financial information for the Company's segments is shown in the following tables including a reconciliation of the Company’s total operating income from its reportable segments to the Company’s income before income taxes and equity in earnings of affiliates, in each case, during the three and six months ended June 30, 2026 and 2025, respectively.
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Three Months Ended June 30, 2026 |
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U.S. Secure Services |
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Electronic Monitoring and Supervision Services |
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Reentry Services |
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International Services |
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Total |
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Revenues |
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$ |
520,472 |
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$ |
76,160 |
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$ |
72,433 |
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$ |
63,007 |
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$ |
732,072 |
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Less: |
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Labor and Related Taxes [1] |
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285,947 |
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22,683 |
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32,244 |
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34,229 |
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375,103 |
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Medical Services and Supplies [1] |
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16,860 |
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— |
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— |
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— |
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16,860 |
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Other Segment Items [2] |
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104,252 |
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22,380 |
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24,197 |
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22,107 |
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172,936 |
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Operating Income from Segments |
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$ |
113,413 |
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$ |
31,097 |
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$ |
15,992 |
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$ |
6,671 |
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$ |
167,173 |
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Unallocated amounts: |
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General and administrative expense |
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(65,470 |
) |
Net interest expense |
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(35,328 |
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Loss on asset divestitures |
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(673 |
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Income before income taxes and equity in earnings of affiliates |
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$ |
65,702 |
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Capital Expenditures |
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$ |
9,673 |
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$ |
7,873 |
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$ |
2,511 |
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$ |
539 |
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$ |
20,596 |
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Depreciation and amortization |
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$ |
24,430 |
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$ |
6,029 |
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$ |
3,042 |
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$ |
695 |
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$ |
34,196 |
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Three Months Ended June 30, 2025 |
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U.S. Secure Services |
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Electronic Monitoring and Supervision Services |
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Reentry Services |
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International Services |
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Total |
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Revenues |
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$ |
441,665 |
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$ |
78,925 |
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$ |
71,310 |
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$ |
44,269 |
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$ |
636,169 |
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Less: |
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Labor and Related Taxes [1] |
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248,869 |
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23,360 |
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31,620 |
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24,926 |
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|
328,775 |
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Medical Services and Supplies [1] |
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15,740 |
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— |
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— |
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— |
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|
15,740 |
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Other Segment Items [2] |
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100,140 |
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23,046 |
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24,049 |
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16,200 |
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|
163,435 |
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Operating Income from Segments |
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$ |
76,916 |
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$ |
32,519 |
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$ |
15,641 |
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$ |
3,143 |
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$ |
128,219 |
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Unallocated amounts: |
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General and administrative expense |
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(56,246 |
) |
Net interest expense |
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(39,441 |
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Loss on extinguishment of debt |
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(595 |
) |
Other income |
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5,514 |
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Income before income taxes and equity in earnings of affiliates |
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$ |
37,451 |
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Capital Expenditures |
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$ |
24,578 |
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$ |
9,202 |
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$ |
2,418 |
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$ |
613 |
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$ |
36,811 |
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Depreciation and amortization |
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$ |
22,444 |
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$ |
6,283 |
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$ |
3,427 |
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$ |
578 |
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$ |
32,732 |
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Six Months Ended June 30, 2026 |
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U.S. Secure Services |
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Electronic Monitoring and Supervision Services |
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Reentry Services |
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International Services |
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Total |
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Revenues |
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$ |
1,023,130 |
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$ |
150,404 |
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$ |
143,671 |
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$ |
120,080 |
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$ |
1,437,285 |
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Less: |
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Labor and Related Taxes [1] |
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|
567,003 |
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45,819 |
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|
64,680 |
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|
64,007 |
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|
741,509 |
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Medical Services and Supplies [1] |
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|
33,567 |
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— |
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— |
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— |
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|
33,567 |
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Other Segment Items [2] |
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207,936 |
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|
47,051 |
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48,931 |
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41,244 |
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|
345,162 |
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Operating Income from Segments |
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$ |
214,624 |
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$ |
57,534 |
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$ |
30,060 |
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$ |
14,829 |
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$ |
317,047 |
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Unallocated amounts: |
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General and administrative expense |
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(126,045 |
) |
Net interest expense |
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|
(71,957 |
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Loss on asset divestitures |
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|
(673 |
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Income before income taxes and equity in earnings of affiliates |
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$ |
118,372 |
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Capital Expenditures |
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$ |
23,811 |
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$ |
11,096 |
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$ |
6,342 |
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$ |
1,076 |
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$ |
42,325 |
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Depreciation and amortization |
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$ |
47,992 |
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$ |
12,585 |
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$ |
6,098 |
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$ |
1,351 |
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$ |
68,026 |
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Six Months Ended June 30, 2025 |
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U.S. Secure Services |
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Electronic Monitoring and Supervision Services |
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Reentry Services |
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International Services |
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Total |
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Revenues |
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$ |
847,381 |
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$ |
156,638 |
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$ |
141,686 |
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$ |
95,808 |
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$ |
1,241,513 |
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Less: |
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Labor and Related Taxes [1] |
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|
479,266 |
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46,748 |
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|
63,374 |
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|
53,616 |
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|
643,004 |
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Medical Services and Supplies [1] |
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|
30,146 |
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— |
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— |
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— |
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|
30,146 |
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Other Segment Items [2] |
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191,822 |
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47,382 |
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47,569 |
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34,638 |
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|
321,411 |
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Operating Income from Segments |
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$ |
146,147 |
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$ |
62,508 |
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$ |
30,743 |
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$ |
7,554 |
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$ |
246,952 |
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Unallocated amounts: |
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General and administrative expense |
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(113,995 |
) |
Net interest expense |
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|
(79,885 |
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Loss on extinguishment of debt |
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|
(595 |
) |
Other income |
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|
5,514 |
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Income before income taxes and equity in earnings of affiliates |
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|
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$ |
57,991 |
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Capital Expenditures |
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$ |
43,891 |
|
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$ |
19,178 |
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$ |
3,395 |
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|
$ |
1,118 |
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$ |
67,582 |
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Depreciation and amortization |
|
$ |
44,719 |
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$ |
12,145 |
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$ |
6,869 |
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$ |
1,135 |
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$ |
64,868 |
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[1] The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. Intersegment expenses are included in the amounts shown. [2] Other segment items include: U.S. Secure Services - depreciation and amortization, food services and supplies, utilities, repairs and maintenance, rent and lease expense and certain other overhead expenses. Electronic Monitoring and Supervision Services - depreciation and amortization, cost of goods sold, rent and lease expense and certain other overhead expenses. Reentry Services - depreciation and amortization, medical services and supplies, food services and supplies, rent and lease expense, utilities and certain other overhead expenses. International Services - medical services and supplies, food services and supplies, utilities, repairs and maintenance and certain other overhead expenses.
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| Geographical Information |
Segment Assets
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June 30, 2026 |
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December 31, 2025 |
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(In thousands) |
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Segment assets: |
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U.S. Secure Services |
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$ |
2,451,248 |
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$ |
2,547,537 |
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Electronic Monitoring and Supervision Services |
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|
520,023 |
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|
519,274 |
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Reentry Services |
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|
428,921 |
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|
439,656 |
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International Services |
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|
82,442 |
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|
76,400 |
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Total segment assets |
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$ |
3,482,634 |
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$ |
3,582,867 |
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Three Months Ended |
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Six Months Ended |
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|
June 30, 2026 |
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|
June 30, 2025 |
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|
June 30, 2026 |
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|
June 30, 2025 |
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(In thousands) |
(In thousands) |
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Revenues: |
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U.S. operations |
|
$ |
669,064 |
|
|
$ |
591,901 |
|
|
$ |
1,317,204 |
|
|
$ |
1,145,705 |
|
Australia operations |
|
|
57,444 |
|
|
|
39,418 |
|
|
|
108,997 |
|
|
|
86,235 |
|
South African operations |
|
|
5,564 |
|
|
|
4,850 |
|
|
|
11,084 |
|
|
|
9,573 |
|
Total revenues |
|
$ |
732,072 |
|
|
$ |
636,169 |
|
|
$ |
1,437,285 |
|
|
$ |
1,241,513 |
|
|
|
|
|
|
|
|
|
|
|
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|
June 30, 2026 |
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|
December 31, 2025 |
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(In thousands) |
Property and Equipment, net: |
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|
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|
U.S. operations |
|
$ |
1,847,301 |
|
|
$ |
1,874,746 |
|
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Australia operations |
|
|
9,441 |
|
|
|
9,372 |
|
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South African operations |
|
|
43 |
|
|
|
80 |
|
|
Total Property and Equipment, net |
|
$ |
1,856,785 |
|
|
$ |
1,884,198 |
|
|
|