Shareholders' Equity (Tables)

9 Months Ended

Sep. 30, 2026

Equity [Abstract]

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 nine months ended September 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 September 30, 2026
Balance, July 1, 2026			132,285			$	1,424			$	1,328,660			$	380,089			$	(15,983	)			10,098			$	(177,755	)		$	(1,755	)		$	1,514,680
Proceeds from exercise of stock options			123				1				2,017				—				—				—				—				—				2,018
Stock-based compensation expense			—				—				5,002				—				—				—				—				—				5,002
Restricted stock canceled			(31	)			—				—				—				—				—				—				—				—
Shares withheld for net settlements of share- based awards [1]			(9	)			—				(271	)			—				—				—				—				—				(271	)
Issuance of common stock - ESPP			1				—				38				—				—				—				—				—				38
Net income			—				—				—				49,214				—				—				—				(11	)			49,203
Other comprehensive income (loss)			—				—				—				—				13				—				—				(1	)			12
Balance, September 30, 2026			132,369			$	1,425			$	1,335,446			$	429,303			$	(15,970	)			10,098			$	(177,755	)		$	(1,767	)		$	1,570,682


		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 September 30, 2025
Balance, July 1, 2025			141,245			$	1,413			$	1,309,317			$	88,546			$	(16,254	)			—			$	—			$	(1,602	)		$	1,381,420
Proceeds from exercise of stock options			19				—				222				—				—				—				—				—				222
Stock-based compensation expense			—				—				7,627				—				—				—				—				—				7,627
Restricted stock canceled			(12	)			—				—				—				—				—				—				—				-
Shares withheld for net settlements of share- based awards [1]			(91	)			(1	)			(2,253	)			—				—				—				—				—				(2,254	)
Purchase of treasury shares [2]			(1,967	)			—				—				—				—				1,967				(41,630	)			—				(41,630	)
Issuance of common stock - ESPP			2				—				40				—				—				—				—				—				40
Net income			—				—				—				173,940				—				—				—				(18	)			173,922
Other comprehensive income (loss)			—				—				—				—				649				—				—				(16	)			633
Balance, September 30, 2025			139,196			$	1,412			$	1,314,953			$	262,486			$	(15,605	)			1,967			$	(41,630	)		$	(1,636	)		$	1,519,980


		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 Nine Months Ended September 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			376				4				5,029				—				—				—				—				—				5,033
Stock-based compensation expense			—				—				17,691				—				—				—				—				—				17,691
Restricted stock granted			1,527				15				(15	)			—				—				—				—				—				—
Restricted stock canceled			(198	)			(2	)			2				—				—				—				—				—				—
Shares withheld for net settlements of share- based awards [1]			(426	)			(4	)			(6,515	)			—				—				—				—				—				(6,519	)
Issuance of common stock - ESPP			6				—				119				—				—				—				—				—				119
Purchase of treasury shares [2]			(5,159	)			—				—				—				—				5,159				(86,734	)			—				(86,734	)
Net income			—				—				—				135,051				—				—				—				(82	)			134,969
Other comprehensive income (loss)			—				—				—				—				2,002				—				—				(13	)			1,989
Balance, September 30, 2026			132,369			$	1,425			$	1,335,446			$	429,303			$	(15,970	)			10,098			$	(177,755	)		$	(1,767	)		$	1,570,682


		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 Nine Months Ended September 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			293				3				4,387				—				—				—				—				—				4,390
Stock-based compensation expense			—				—				19,621				—				—				—				—				—				19,621
Restricted stock granted			1,827				18				(18	)			—				—				—				—				—				-
Restricted stock canceled			(146	)			(1	)			1				—				—				—				—				—				-
Shares withheld for net settlements of share- based awards [1]			(997	)			(10	)			(24,421	)			—				—				—				—				—				(24,431	)
Purchase of treasury shares [2]			(1,967	)			—				—				—				—				1,967				(41,630	)			—				(41,630	)
Issuance of common stock - ESPP			5				—				127				—				—				—				—				—				127
Net income			—				—				—				222,606				—				—				—				(68	)			222,538
Other comprehensive income (loss)			—				—				—				—				5,997				—				—				(46	)			5,951
Balance, September 30, 2025			139,196			$	1,412			$	1,314,953			$	262,486			$	(15,605	)			1,967			$	(41,630	)		$	(1,636	)		$	1,519,980

[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 nine months ended September 30, 2026 and 2025, the Company repurchased 5,158,349 and 1,966,779 shares of its

common stock in the open market, respectively

Schedule of Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss attributable to GEO within shareholders' equity are as follows:


		Nine Months Ended September 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)			2,690				1,455				(2,162	)			19				2,002
Balance, September 30, 2026		$	(18,750	)		$	4,199			$	(1,686	)		$	267			$	(15,970	)


		Nine Months Ended September 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)			6,833				(1,184	)			496				(148	)			5,997
Balance, September 30, 2025		$	(20,106	)		$	2,649			$	481			$	1,371			$	(15,605	)

(1)

The foreign currency translation related to noncontrolling interests was not significant at September 30, 2026 or 2025.