0000950170-25-104763
SEC filingCoreCivic's Safety segment drove strong NOI growth; $237.9M buyback remaining; debt $1.03B; cash $130.5M.
As of June 30, 2025, CoreCivic held $130.5M in cash and equivalents, up from $107.5M at year-end 2024. Restricted cash totaled $12.4M, primarily for the Lansing Correctional Facility and inmate trust funds. Total assets reached $3,072M, driven by increases in accounts receivable ($300.4M) and property and equipment ($2,061M). Total debt stood at $1,031.4M, net of $10.9M in unamortized issuance costs, resulting in a net debt position of approximately $900M. Shareholders' equity was $1,478M, with accumulated deficit improving to ($176M) from ($240M) due to net income.
The Notes do not disclose specific purchase commitments beyond debt maturities. Scheduled principal payments for the remainder of 2025 total $6.1M, with $15.7M in 2026, $257.8M in 2027, $138.0M in 2028, $508.0M in 2029, and $97.7M thereafter. The company has $18.6M in outstanding letters of credit under the revolving credit facility. No material contingent liabilities were accrued beyond normal legal reserves.
Share repurchases accelerated: the company bought 3.9M shares for $81.0M in H1 2025, leaving $237.9M available under the $500M program authorized in May 2025. No common dividends were paid; only $45k in dividends on restricted stock units. Debt increased by $34.0M net, including $50.0M drawn on the revolving credit facility and $10.0M in scheduled repayments. Capital expenditures totaled $59.4M, primarily in Safety ($50.2M) for facility improvements and activation costs, representing 5.8% of revenue.
CoreCivic reports three segments: Safety, Community, and Properties. For Q2 2025, Safety generated $503.3M revenue (93.6% of total) and $130.7M facility NOI (26.0% margin). Community contributed $30.1M revenue and $6.6M NOI (21.9% margin). Properties added $4.7M revenue and $2.5M NOI (54.3% margin). Overall segment NOI grew 22.3% YoY to $139.8M. Safety benefited from resumed operations at the Dilley Facility (2,400 beds) and activation efforts at two ICE facilities. Geographic detail is limited, but the company operates 44 Safety facilities across the U.S., with seven idle facilities totaling 9,826 beds actively marketed.
No cash flow statement figures are available in the provided excerpt. The document only includes a reconciliation of cash, cash equivalents, and restricted cash for balance sheet purposes, and discussions of real estate transactions. Therefore, analysis of operating cash flow, capex, free cash flow, or capital returns is not possible. The total cash balance increased by $20.841 million over the six-month period, but the sources and uses of cash are not detailed.