Document and Entity Information (USD $)	9 Months Ended
Document and Entity Information (USD $)	Sep. 30, 2010	Nov. 02, 2010	Jun. 30, 2009
Document and Entity Information [Abstract]
Entity Registrant Name	CORRECTIONS CORP OF AMERICA
Entity Central Index Key	0001070985
Document Type	10-Q
Document Period End Date	Sep. 30, 2010
Amendment Flag	false
Document Fiscal Year Focus	2010
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 1,886,384,426
Entity Common Stock, Shares Outstanding		110,252,504

Consolidated Balance Sheets (Unaudited) (USD $) In Thousands, unless otherwise specified	9 Months Ended	12 Months Ended
	Sep. 30, 2010	Dec. 31, 2009
ASSETS
Cash and cash equivalents	$ 34,435	$ 45,815
Accounts receivable, net of allowance of $1,907 and $1,500, respectively	346,189	235,139
Deferred tax assets	11,275	11,842
Prepaid expenses and other current assets	28,152	26,056
Current assets of discontinued operations	2,006	6,403
Total current assets	422,057	325,255
Property and equipment, net	2,539,880	2,517,948
Restricted cash	6,754	6,747
Investment in direct financing lease	11,161	12,185
Goodwill	11,988	11,988
Other assets	26,368	27,324
Non-current assets of discontinued operations	56	4,296
Total assets	3,018,264	2,905,743
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable and accrued expenses	199,580	190,777
Income taxes payable	473	481
Current liabilities of discontinued operations	2,357	3,325
Total current liabilities	202,410	194,583
Long-term debt	1,236,234	1,149,099
Deferred tax liabilities	108,497	88,260
Other liabilities	31,957	31,255
Total liabilities	1,579,098	1,463,197
Commitments and contingencies
Common stock - $0.01 par value; 300,000 shares authorized; 110,121 and 115,962 shares issued and outstanding at September 30, 2010 and December 31, 2009, respectively	1,101	1,160
Additional paid-in capital	1,366,688	1,483,497
Retained earnings (deficit)	71,377	(42,111)
Total stockholders' equity	1,439,166	1,442,546
Total liabilities and stockholders' equity	$ 3,018,264	$ 2,905,743

Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $) In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2010	Dec. 31, 2009
ASSETS
Allowance for accounts receivable	$ 1,907	$ 1,500
LIABILITIES AND STOCKHOLDERS' EQUITY
Common stock par value	$ 0.01	$ 0.01
Common stock shares authorized	300,000	300,000
Common stock shares issued	110,121	115,962
Common stock shares outstanding	110,121	115,962

Consolidated Statements of Operations (Unaudited) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2010	Sep. 30, 2009
REVENUE:
Management and other	$ 426,628	$ 414,984	$ 1,240,824	$ 1,209,923
Rental	522	455	2,007	1,484
Total revenues	427,150	415,439	1,242,831	1,211,407
EXPENSES:
Operating	292,160	291,475	868,060	848,401
General and administrative	23,606	21,704	62,087	65,015
Depreciation and amortization	26,195	25,313	76,715	74,497
Total operating expenses	341,961	338,492	1,006,862	987,913
OPERATING INCOME	85,189	76,947	235,969	223,494
OTHER EXPENSES (INCOME):
Interest expense, net	17,925	18,339	52,499	54,935
Expenses associated with debt refinancing transactions				3,838
Other (income) expense	(131)	49	(75)	(230)
Total non-operating income (expense)	17,794	18,388	52,424	58,543
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	67,395	58,559	183,545	164,951
Income tax expense	(25,284)	(15,084)	(69,653)	(55,539)
INCOME FROM CONTINUING OPERATIONS	42,111	43,475	113,892	109,412
Income (loss) from discontinued operations, net of tax	(147)	1,777	(404)	3,051
NET INCOME	$ 41,964	$ 45,252	$ 113,488	$ 112,463
BASIC EARNINGS PER SHARE:
Income from continuing operations	$ 0.38	$ 0.38	$ 1.01	$ 0.94
Income (loss) from discontinued operations, net of taxes		$ 0.01		$ 0.03
Net income	$ 0.38	$ 0.39	$ 1.01	$ 0.97
DILUTED EARNINGS PER SHARE:
Income from continuing operations	$ 0.38	$ 0.38	$ 1	$ 0.93
Income (loss) from discontinued operations, net of taxes		$ 0.01		$ 0.03
Net income	$ 0.38	$ 0.39	$ 1	$ 0.96

Consolidated Statements of Cash Flows (Unaudited) (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Sep. 30, 2010	Sep. 30, 2009
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 113,488	$ 112,463
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	78,937	75,129
Goodwill impairment	1,684
Amortization of debt issuance costs and other non-cash interest	3,197	2,935
Expenses associated with debt refinancing transactions		3,838
Deferred income taxes	19,368	12,527
Income tax benefit of equity compensation	(2,602)	(2,269)
Non-cash equity compensation	7,326	7,224
Other non-cash items	510	412
Changes in assets and liabilities, net:
Accounts receivable, prepaid expenses and other assets	(108,675)	(16,905)
Accounts payable, accrued expenses and other liabilities	23,405	19,698
Income taxes payable	2,594	2,301
Net cash provided by operating activities	139,232	217,353
CASH FLOWS FROM INVESTING ACTIVITIES:
Expenditures for facility development and expansions	(88,012)	(52,194)
Expenditures for other capital improvements	(24,960)	(31,663)
Proceeds from sale of assets	64	241
Increase in other assets	(1,196)	(1,910)
Payments received on direct financing lease	907	805
Net cash used in investing activities	(113,197)	(84,721)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of debt	116,167	567,478
Principal repayments of debt	(30,000)	(561,334)
Payment of debt issuance and other refinancing costs		(11,464)
Income tax benefit of equity compensation	2,602	2,269
Purchase and retirement of common stock	(131,409)	(116,661)
Proceeds from exercise of stock options	5,136	6,629
Net cash used in financing activities	(37,504)	(113,083)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(11,469)	19,549
CASH AND CASH EQUIVALENTS, beginning of period	45,908	34,077
CASH AND CASH EQUIVALENTS, end of period	34,439	53,626
Cash paid during the period for:
Interest (net of amounts capitalized of $3,744 and $790 in 2010 and 2009, respectively)	50,338	56,556
Income taxes	$ 44,213	$ 49,691

Consolidated Statement of Stockholders' Equity (Unaudited) (USD $) In Thousands, unless otherwise specified	Total	Common Stock	Additional Paid-in Capital	Retained Earnings (Deficit)
Beginning balance at Dec. 31, 2008	$ 1,380,359	$ 1,247	$ 1,576,177	$ (197,065)
Beginning balance, shares at Dec. 31, 2008		124,673
Comprehensive income:
Net income	112,463			112,463
Total comprehensive income	112,463			112,463
Issuance of common stock	37		37
Issuance of common stock, shares		2
Retirement of common stock	(114,694)	(100)	(114,594)
Retirement of common stock, shares		(9,956)
Amortization of restricted stock compensation, net of forfeitures	4,086		4,086
Amortization of restricted stock compensation, net of forfeitures, shares		(30)
Income tax benefit of equity compensation	1,370		1,370
Stock option compensation expense	3,101		3,101
Restricted stock grant		1	(1)
Restricted stock grant, shares		135
Stock options exercised	6,629	7	6,622
Stock options exercised, shares		658
Ending balance at Sep. 30, 2009	1,393,351	1,155	1,476,798	(84,602)
Ending balance, shares at Sep. 30, 2009		115,482
Beginning balance at Dec. 31, 2009	1,442,546	1,160	1,483,497	(42,111)
Beginning balance, shares at Dec. 31, 2009		115,962
Comprehensive income:
Net income	113,488			113,488
Total comprehensive income	113,488			113,488
Issuance of common stock	35		35
Issuance of common stock, shares		2
Retirement of common stock	(131,409)	(67)	(131,342)
Retirement of common stock, shares		(6,576)
Amortization of restricted stock compensation, net of forfeitures	4,134		4,134
Amortization of restricted stock compensation, net of forfeitures, shares		(19)
Income tax benefit of equity compensation	2,079		2,079
Stock option compensation expense	3,157		3,157
Restricted stock grant		2	(2)
Restricted stock grant, shares		179
Stock options exercised	5,136	6	5,130
Stock options exercised, shares		573
Ending balance at Sep. 30, 2010	$ 1,439,166	$ 1,101	$ 1,366,688	$ 71,377
Ending balance, shares at Sep. 30, 2010		110,121

Organization and Operations

9 Months Ended

Sep. 30, 2010

Organization and Operations [Abstract]

ORGANIZATION AND OPERATIONS

ORGANIZATION AND OPERATIONS

As of September 30, 2010, Corrections Corporation of America, a Maryland corporation (together with its subsidiaries, the “Company” or “CCA”), owned 47 correctional and detention facilities, two of which are leased to other operators. As of September 30, 2010, CCA operated 66 facilities, located in 19 states and the District of Columbia. CCA is also constructing an additional correctional facility in Millen, Georgia, under a contract awarded by the Georgia Department of Corrections. The facility, which CCA will own, is expected to house approximately 1,150 inmates and be completed during the first quarter of 2012.

CCA specializes in owning, operating and managing prisons and other correctional facilities and providing inmate residential and prisoner transportation services for governmental agencies. In addition to providing the fundamental residential services relating to inmates, CCA’s facilities offer a variety of rehabilitation and educational programs, including basic education, religious services, life skills and employment training, and substance abuse treatment. These services are intended to reduce recidivism and to prepare inmates for their successful re-entry into society upon their release. CCA also provides health care (including medical, dental and psychiatric services), food services, and work and recreational programs.

Basis of Presentation and Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2010

Basis of Presentation and Summary of Significant Accounting Policies [Abstract]

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The accompanying unaudited interim consolidated financial statements have been prepared by the Company and, in the opinion of management, reflect all normal recurring adjustments necessary for a fair presentation of results for the unaudited interim periods presented. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted. The results of operations for the interim period are not necessarily indicative of the results to be obtained for the full fiscal year. Reference is made to the audited financial statements of CCA included in its Annual Report on Form 10-K as of and for the year ended December 31, 2009 (the “2009 Form 10-K”) with respect to certain significant accounting and financial reporting policies as well as other pertinent information of the Company.

Concentration of Credit Risks

At September 30, 2010, CCA had accounts receivable outstanding from the state of California totaling $95.9 million, including past due amounts caused by delays in the passage of the state budget. Now that the budget has passed, CCA expects to resume receiving payments from the state of California during the fourth quarter of 2010.

Fair Value of Financial Instruments

On April 9, 2009, the Financial Accounting Standards Board (“FASB”) modified Accounting Standard Codification (“ASC”) 825, Financial Instruments, and ASC 270, Interim Reporting, to extend the disclosure requirements related to fair value of financial instruments to interim financial statements of publicly traded companies. To meet the reporting requirements of ASC 825 regarding fair value of financial instruments, CCA calculates the estimated fair value of financial instruments using quoted market prices of similar instruments or discounted cash flow techniques. At September 30, 2010 and December 31, 2009, there were no material differences between the carrying amounts and the estimated fair values of CCA’s financial instruments, other than as follows (amounts in thousands):


	September 30, 2010						December 31, 2009
	Carrying						Carrying
	Amount			Fair Value			Amount			Fair Value

Investment in direct financing lease	$	12,506		$	15,092		$	13,414		$	16,329
Note receivable from APM	$	4,987		$	8,488		$	5,025		$	8,497
Debt	$	(1,236,234	)	$	(1,294,447	)	$	(1,149,099	)	$	(1,187,768	)

Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2010

Goodwill and Other Intangible Assets [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill was $12.0 million and $13.7 million (including $1.7 million classified as discontinued operations) as of September 30, 2010 and December 31, 2009, respectively, and was associated with facilities CCA manages but does not own.

During the second quarter of 2010, a goodwill impairment charge of $1.7 million was recorded as a result of the contract terminations at the 1,520-bed Gadsden Correctional Institution and the 876-bed Hernando County Jail as further described in Note 4. The operations of these two facilities were transferred to other operators during the third quarter of 2010 and are now reported as discontinued operations for all periods presented.

The components of CCA’s intangible assets and liabilities are as follows (amounts in thousands):


	September 30, 2010						December 31, 2009
	Gross Carrying			Accumulated			Gross Carrying			Accumulated
	Amount			Amortization			Amount			Amortization

Contract acquisition costs and other intangible assets	$	1,283		$	(863	)	$	873		$	(862	)
Contract values		(35,688	)		34,473			(35,688	)		32,571


Total	$	(34,405	)	$	33,610		$	(34,815	)	$	31,709

Contract acquisition costs and other intangible assets are included in other non-current assets, and contract values are included in other non-current liabilities in the accompanying consolidated balance sheets. Contract values are amortized using the interest method while other intangible assets are non-amortizing. Amortization income, net of amortization expense, for intangible assets and liabilities during both the three months ended September 30, 2010 and 2009 was $0.7 million while amortization income, net of amortization expense, for intangible assets and liabilities during the nine months ended September 30, 2010 and 2009 was $2.0 million and $2.4 million, respectively. Interest expense associated with the amortization of contract values for the three months ended September 30, 2010 and 2009 was $20,000 and $0.1 million, respectively, while interest expense associated with the amortization of contract values for the nine months ended September 30, 2010 and 2009 was $0.1 million and $0.3 million, respectively. Estimated amortization income, net of amortization expense, for the remainder of 2010 and the five succeeding fiscal years is as follows (in thousands):


2010 (remainder)	$	329
2011		134
2012		134
2013		134
2014		134
2015		134

- Definition

Discloses the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain or loss on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. This element may be used as a single block of text to include the entire intangible asset disclosure including data and tables.

+ References+ Details

Facility Activation And Developments

9 Months Ended

Sep. 30, 2010

Facility Activation And Developments [Abstract]

FACILITY ACTIVATION AND DEVELOPMENTS

FACILITY ACTIVATION AND DEVELOPMENTS

In February 2008, CCA announced its intention to construct a new correctional facility in Trousdale County, Tennessee. However, during the first quarter of 2009 CCA temporarily suspended the construction of this facility until there is greater clarity around the timing of future bed absorption by its customers. CCA will continue to monitor its customers’ needs, and could promptly resume construction of the facility. As of September 30, 2010, CCA has capitalized $27.5 million related to the Trousdale facility, a portion of which consists of pre-fabricated concrete cells that are generally transferable to other potential CCA development projects.

In May 2008, CCA was awarded a contract by the Office of Federal Detention Trustee to deliver services at a new correctional facility in Pahrump, Nevada, which was completed during the third quarter of 2010 for approximately $83.5 million. The new Nevada Southern Detention Center is expected to house approximately 1,000 federal prisoners. The contract provides for a guarantee of up to 750 detainees and includes an initial term of five years with three five-year renewal options. The facility began to receive prisoners during October 2010.

During December 2009, CCA announced its decision to idle its 1,600-bed Prairie Correctional Facility in Minnesota due to low inmate populations at the facility. During 2009, the Prairie facility housed offenders from the states of Minnesota and Washington. However, due to excess capacity in the states’ systems, both states reduced the populations held at Prairie throughout 2009. The state of Washington removed all of its offenders from the Prairie facility by the end of 2009, and during January 2010, the final transfer of offenders from the Prairie facility to the state of Minnesota was completed.

On January 15, 2010, the Arizona Governor and Legislature proposed budgets that would phase out the utilization of private out-of-state beds due to in-state capacity coming on-line and severe budget conditions. During January 2010, the Arizona Department of Corrections notified CCA that it elected not to renew the contract at CCA’s 752-bed Huerfano County Correctional Center in Colorado upon expiration of the contract in March 2010. As a result, the Arizona Department of Corrections removed all of the inmates from the Huerfano facility during March 2010. Further, during March 2010, the Arizona Department of Corrections notified CCA that it elected not to renew its contract at CCA’s 2,160-bed Diamondback Correctional Facility in Oklahoma, which was scheduled to expire on May 1, 2010. The Arizona Department of Corrections completed the transfer of offenders from the Diamondback facility during May 2010. As a result, CCA has idled the Huerfano and Diamondback facilities. The Diamondback facility previously housed inmates from the states of Wisconsin, Hawaii, and Oklahoma, while the Huerfano facility recently housed inmates from the state of Colorado. CCA continues to manage inmate populations from the states of Oklahoma, Hawaii, and Colorado at other facilities it owns and operates.

During January 2010, CCA announced that pursuant to the BOP Criminal Alien Requirement 10 Solicitation (“CAR 10”) its 2,304-bed California City Correctional Center in California was not selected for the continued management of the federal offenders from the BOP located at this facility. The contract with the BOP at the California City facility expired on September 30, 2010. All of the BOP inmates were transferred out of the facility by the end of the third quarter of 2010. In September 2010, CCA announced a new agreement with California City, California to manage federal populations at the California City Correctional Center under a 15-year Intergovernmental Service Agreement. The management contract, which is co-terminous with the Intergovernmental Service Agreement, allows the housing of prisoners and detainees from multiple federal agencies. CCA began ramping U.S. Marshals Service (“USMS”) populations at the facility in early October 2010 and CCA expects the USMS will utilize approximately 1,200 beds by the end of the third quarter of 2011.

During November 2010, the California Department of Corrections and Rehabilitation (“CDCR”) extended their existing agreement with CCA to manage up to 9,588 inmates at four of the five facilities CCA currently manages for them, and notified CCA of its Intent to Award an additional contract to manage up to 3,256 offenders at CCA’s Crowley County Correctional Facility and its currently idle Prairie Correctional Facility. Between the contract extension and the Intent to Award, CCA expects to have the opportunity to house a total of up to 12,844 inmates for the CDCR in six of CCA’s facilities. The extension, which is subject to appropriations by the state of California’s legislature, begins July 1, 2011 and expires June 30, 2013. As of September 30, 2010, CCA held approximately 9,700 inmates from the state of California. The Intent to Award is subject to final negotiations and is not currently expected to result in inmate populations until the second half of 2012. As a result of the Intent to Award, CCA is in discussions with Colorado to provide alternatives for housing approximately 1,600 Colorado inmates currently housed at its Crowley facility.

The Company is currently pursuing new management contracts to take advantage of the beds that have become available at the Huerfano and Diamondback facilities but can provide no assurance that it will be successful in doing so. The carrying values of these two facilities totaled $70.4 million and $71.5 million as of September 30, 2010 and December 31, 2009, respectively, excluding equipment and other assets that could generally be transferred and used at other facilities CCA owns without significant cost.

In April 2010, CCA announced that pursuant to a re-bid of the management contracts at four Florida facilities, two of which were managed by CCA at the time, the Florida Department of Management Services (“Florida DMS”) indicated its intent to award CCA the continued management of the 985-bed Bay Correctional Facility, in Panama City, Florida. Additionally, the Florida DMS indicated its intent to award CCA management of the 985-bed Moore Haven Correctional Facility in Moore Haven, Florida and the 1,884-bed Graceville Correctional Facility in Graceville, Florida, facilities which were not previously managed by CCA. However, CCA was not selected for the continued management of the 1,520-bed Gadsden Correctional Institution in Quincy, Florida. All of the facilities are owned by the state of Florida. The contracts contain an initial term of three years and two two-year renewal options. CCA assumed management of the Moore Haven and Graceville facilities and transitioned management of the Gadsden facility to another operator during the third quarter of 2010. In April 2010, CCA also provided notice to Hernando County, Florida of its intent to terminate the management contract at the 876-bed Hernando County Jail during the third quarter of 2010. CCA incurred non-cash charges totaling approximately $3.2 million during the nine months ended September 30, 2010 for the write-off of goodwill and other costs associated with the termination of the management contracts for the Gadsden and Hernando County facilities.

In September 2010, CCA announced it was awarded a contract by the Georgia Department of Corrections to manage up to 1,150 male inmates in the Jenkins Correctional Center, which will be constructed, owned and operated by CCA in Millen, Georgia. CCA commenced development of the new Jenkins Correctional Center during the third quarter of 2010, with an estimated total construction cost of approximately $57.0 million. Construction is expected to be completed during the first quarter of 2012. The contract has an initial one-year base term with 24 one-year renewal options. Additionally the contract provides for a population guarantee of 90% following a 120-day ramp-up period.

Discontinued Operations

9 Months Ended

Sep. 30, 2010

Discontinued Operations [Abstract]

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS

In May 2008, CCA notified the Bay County Commission of its intention to exercise the Company’s option to terminate the operational management contract for the 1,150-bed Bay County Jail and Annex in Panama City, Florida, effective October 9, 2008. The jail is owned by the County. During 2009, the Company reported expenses related to negative developments in outstanding legal matters at this facility which are presented as discontinued operations.

Pursuant to a re-bid of the management contracts, during September 2008, CCA was notified by the Texas Department of Criminal Justice (“TDCJ”) of its intent to transfer the management of the 500-bed B.M. Moore Correctional Center in Overton, Texas and the 518-bed Diboll Correctional Center in Diboll, Texas to another operator, upon the expiration of the management contracts on January 16, 2009. Both of these facilities are owned by the TDCJ. Accordingly, the results of operations, net of taxes, and the assets and liabilities of these two facilities have been reported as discontinued operations since the termination of operations in the first quarter of 2009, for all periods presented.

As previously described in Note 4, in April 2010, CCA announced that pursuant to a re-bid of the management contract at the 1,520-bed Gadsden Correctional Institution in Quincy, Florida, the Florida DMS indicated its intent to award the management of the Gadsden facility to another operator. CCA transitioned management of the Gadsden facility during the third quarter of 2010 to the new operator. Additionally, in April 2010, CCA also provided notice to Hernando County, Florida of its intent to terminate the management contract at the 876-bed Hernando County Jail during the third quarter of 2010. Accordingly, the results of operations, net of taxes, and the assets and liabilities of these two facilities have been reported as discontinued operations upon termination of operations in the third quarter of 2010 for all periods presented.

The following table summarizes the results of operations for these facilities for the three and nine months ended September 30, 2010 and 2009 (amounts in thousands):


	For the Three Months Ended						For the Nine Months Ended
	September 30,						September 30,
	2010			2009			2010			2009
REVENUE:
Managed-only	$	4,258		$	10,579		$	22,906		$	31,968

		4,258			10,579			22,906			31,968

EXPENSES:
Managed-only		4,174			7,966			19,716			26,902
Depreciation and amortization		379			219			2,222			631
Goodwill impairment		—			—			1,684			—

		4,553			8,185			23,622			27,533


OPERATING INCOME (LOSS)		(295	)		2,394			(716	)		4,435

Other income		59			—			59			18


INCOME (LOSS) FROM DISCONTINUED OPERATIONS BEFORE INCOME TAXES BEFORE INCOME TAX		(236	)		2,394			(657	)		4,453

Income tax (expense) benefit		89			(617	)		253			(1,402	)


INCOME (LOSS) FROM DISCONTINUED OPERATIONS, NET OF TAXES BEFORE INCOME TAX	$	(147	)	$	1,777		$	(404	)	$	3,051

The assets and liabilities of the discontinued operations presented in the accompanying consolidated balance sheets are as follows (amounts in thousands):


	September 30, 2010		December 31, 2009

ASSETS

Cash and cash equivalents	$	4	$	93
Accounts receivable		1,824		6,069
Other current assets		178		241

Total current assets		2,006		6,403

Property and equipment, net		—		2,555
Goodwill		—		1,684
Other assets		56		57

Total Assets	$	2,062	$	10,699


LIABILITIES

Accounts payable and accrued expenses	$	2,357	$	3,325

Total current liabilities	$	2,357	$	3,325

Debt

9 Months Ended

Sep. 30, 2010

Debt [Abstract]

DEBT

DEBT

Debt outstanding as of September 30, 2010 and December 31, 2009 consists of the following (amounts in thousands):


	September 30,		December 31,
	2010		2009

Revolving Credit Facility, principal due at maturity in December 2012; interest payable periodically at variable interest rates. The weighted average rate at September 30, 2010 was 1.0%.	$	257,966	$	171,799

6.25% Senior Notes, principal due at maturity in March 2013; interest payable semi-annually in March and September at 6.25%.		375,000		375,000

6.75% Senior Notes, principal due at maturity in January 2014; interest payable semi-annually in January and July at 6.75%.		150,000		150,000

7.75% Senior Notes, principal due at maturity in June 2017; interest payable semi-annually in June and December at 7.75%. These notes were issued with a $13.4 million discount, of which $11.7 million and $12.7 million was unamortized at September 30, 2010 and December 31, 2009, respectively.		453,268		452,300


	$	1,236,234	$	1,149,099

Revolving Credit Facility. During December 2007, CCA entered into a $450.0 million senior secured revolving credit facility (the “Revolving Credit Facility”) arranged by Banc of America Securities LLC and Wachovia Capital Markets, LLC. The Revolving Credit Facility is utilized to fund expansion and development projects and the stock repurchase program as further described in Note 7, as well as for working capital, capital expenditures, and general corporate purposes.

The Revolving Credit Facility has an aggregate principal capacity of $450.0 million and matures in December 2012. At CCA’s option, interest on outstanding borrowings will be based on either a base rate plus a margin ranging from 0.00% to 0.50% or a London Interbank Offered Rate (“LIBOR”) plus a margin ranging from 0.75% to 1.50%. The applicable margins are subject to adjustments based on CCA’s leverage ratio. Based on CCA’s current leverage ratio, loans under the Revolving Credit Facility currently bear interest at the base rate plus a margin of 0.00% or at LIBOR plus a margin of 0.75%. As of September 30, 2010, the Company had $258.0 million of outstanding borrowings under the Revolving Credit Facility as well as $30.3 million in letters of credit outstanding resulting in $149.5 million available under the Revolving Credit Facility.

Lehman Brothers Commercial Bank (“Lehman”), which holds a $15.0 million share in the Revolving Credit Facility, is a defaulting lender under the terms of the credit agreement. At September 30, 2010, Lehman had funded $1.7 million in borrowings and $1.1 million in letters of credit that remained outstanding on the facility. The loan balance will be repaid on a pro-rata basis to the extent that LIBOR-based loans are repaid on tranches Lehman previously funded. It is CCA’s expectation that going forward it will not have access to additional incremental funding from Lehman, and to the extent Lehman’s funding is reduced, it will not be replaced. CCA does not believe that this reduction of credit has a material effect on its liquidity and capital resources. None of the other banks providing commitments under the Revolving Credit Facility have failed to fund borrowings CCA has requested. However, no assurance can be provided that all of the banks in the lending group will continue to operate as a going concern in the future. If any of the banks in the lending group were to fail, it is possible that the capacity under the Revolving Credit Facility would be reduced further.

The Revolving Credit Facility has a $20.0 million sublimit for swing line loans which enables CCA to borrow from Banc of America Securities LLC without advance notice, at the base rate. The Revolving Credit Facility also has a $100.0 million sublimit for the issuance of standby letters of credit. CCA has an option to increase the availability under the Revolving Credit Facility by up to $300.0 million (consisting of revolving credit, term loans, or a combination of the two) subject to, among other things, the receipt of commitments for the increased amount.

The Revolving Credit Facility is secured by a pledge of all of the capital stock of CCA’s domestic subsidiaries, 65% of the capital stock of CCA’s foreign subsidiaries, all of CCA’s accounts receivable, and all of CCA’s deposit accounts.

The Revolving Credit Facility requires CCA to meet certain financial covenants, including, without limitation, a maximum total leverage ratio, a maximum secured leverage ratio, and a minimum interest coverage ratio. As of September 30, 2010, CCA was in compliance with all such covenants. In addition, the Revolving Credit Facility contains certain covenants which, among other things, limit both the incurrence of additional indebtedness, investments, payment of dividends, transactions with affiliates, asset sales, acquisitions, capital expenditures, mergers and consolidations, prepayments and modifications of other indebtedness, liens and encumbrances and other matters customarily restricted in such agreements. In addition, the Revolving Credit Facility is subject to certain cross-default provisions with terms of CCA’s other indebtedness.

$375 Million 6.25% Senior Notes. Interest on the $375.0 million aggregate principal amount of CCA’s 6.25% unsecured senior notes issued in March 2005 (the “6.25% Senior Notes”) accrues at the stated rate and is payable on March 15 and September 15 of each year. The 6.25% Senior Notes are scheduled to mature on March 15, 2013. CCA may redeem all or a portion of the notes at redemption prices set forth in the indenture governing the 6.25% Senior Notes.

$150 Million 6.75% Senior Notes. Interest on the $150.0 million aggregate principal amount of CCA’s 6.75% unsecured senior notes issued in January 2006 (the “6.75% Senior Notes”) accrues at the stated rate and is payable on January 31 and July 31 of each year. The 6.75% Senior Notes are scheduled to mature on January 31, 2014. CCA may redeem all or a portion of the notes at redemption prices set forth in the indenture governing the 6.75% Senior Notes.

$465 Million 7.75% Senior Notes. Interest on the $465.0 million aggregate principal amount of CCA’s 7.75% unsecured senior notes issued in June 2009 (the “7.75% Senior Notes”) accrues at the stated rate and is payable on June 1 and December 1 of each year. The 7.75% Senior Notes are scheduled to mature on June 1, 2017. The 7.75% Senior Notes were issued at a price of 97.116%, resulting in a yield to maturity of 8.25%. At any time on or before June 1, 2012, CCA may redeem up to 35% of the notes with the net proceeds of certain equity offerings, as long as 65% of the aggregate principal amount of the notes remains outstanding after the redemption. CCA may redeem all or a portion of the notes on or after June 1, 2013. Redemption prices are set forth in the indenture governing the 7.75% Senior Notes.

Stockholders' Equity

9 Months Ended

Sep. 30, 2010

Stockholders' Equity [Abstract]

STOCKHOLDERS' EQUITY

STOCKHOLDERS’ EQUITY

Stock Repurchase Program

In February 2010, the Company’s Board of Directors approved a stock repurchase program to purchase up to $250.0 million of CCA’s common stock through June 30, 2011. Through September 30, 2010, CCA completed the purchase of 6.4 million shares at a total cost of $128.4 million. CCA has utilized cash on hand, net cash provided by operations, and borrowings available under the Revolving Credit Facility to fund the repurchases.

Restricted Stock

During the first nine months of 2010, CCA issued 332,000 shares of restricted common stock and common stock units to certain of its employees, with an aggregate fair value of $6.9 million, including 285,000 restricted shares or units to employees whose compensation is charged to general and administrative expense and 47,000 restricted shares to employees whose compensation is charged to operating expense. During 2009, CCA issued 333,000 shares of restricted common stock and common stock units to certain of its employees, with an aggregate fair value of $3.7 million, including 242,000 restricted shares or units to employees whose compensation is charged to general and administrative expense and 91,000 restricted shares to employees whose compensation is charged to operating expense.

CCA established performance-based vesting conditions on the shares of restricted common stock and common stock units awarded to its officers and executive officers. Unless earlier vested under the terms of the agreements, shares or units issued to officers and executive officers are subject to vesting over a three-year period based upon the satisfaction of certain performance criteria. No more than one-third of such shares or units may vest in the first performance period; however, the performance criteria are cumulative for the three-year period. Unless earlier vested under the terms of the agreements, the shares of restricted stock issued to the other employees vest after three years of continuous service.

During the three months ended September 30, 2010, CCA expensed $1.3 million, net of forfeitures, relating to restricted common stock and common stock units ($0.2 million of which was recorded in operating expenses and $1.1 million of which was recorded in general and administrative expenses). During the three months ended September 30, 2009, CCA expensed $1.3 million, net of forfeitures, relating to restricted common stock and common stock units ($0.3 million of which was recorded in operating expenses and $1.0 million of which was recorded in general and administrative expenses).

During the nine months ended September 30, 2010, CCA expensed $4.1 million, net of forfeitures, relating to restricted common stock and common stock units ($0.8 million of which was recorded in operating expenses and $3.3 million of which was recorded in general and administrative expenses). During the nine months ended September 30, 2009, CCA expensed $4.1 million, net of forfeitures, relating to restricted common stock and common stock units ($0.8 million of which was recorded in operating expenses and $3.3 million of which was recorded in general and administrative expenses). As of September 30, 2010, approximately 712,500 shares of restricted common stock and common stock units remained outstanding and subject to vesting.

Stock Options

During the nine months ended September 30, 2010, CCA issued to its directors, officers, and executive officers options to purchase 712,000 shares of common stock with an aggregate fair value of $5.5 million, with a weighted average exercise price of $20.68 per share. During 2009, CCA issued to its officers, executive officers, and non-employee directors options to purchase 826,000 shares of common stock with an aggregate fair value of $3.4 million, with a weighted average exercise price of $11.93 per share. CCA estimates the fair value of stock options using the Black-Scholes option pricing model. Unless earlier vested under their terms, one third of the stock options issued to CCA’s executive officers vest on the anniversary of the grant date over a three-year period while one fourth of the stock options issued to CCA’s other officers vest on the anniversary of the grant date over a four-year period. Options granted to non-employee directors vest on the one-year anniversary of the grant date.

During the three months ended September 30, 2010 and 2009, CCA expensed $1.2 million and $1.0 million, respectively, net of forfeitures, relating to its outstanding stock options. During the nine months ended September 30, 2010 and 2009, CCA expensed $3.2 million and $3.1 million, respectively, net of forfeitures, relating to its outstanding stock options. As of September 30, 2010, options to purchase 3.7 million shares of common stock were outstanding with a weighted average exercise price of $16.26.

- Definition

Disclosures related to accounts comprising shareholders' equity, including other comprehensive income. Includes: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables; effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

+ References+ Details

Earnings Per Share

9 Months Ended

Sep. 30, 2010

Earnings Per Share [Abstract]

EARNINGS PER SHARE

EARNINGS PER SHARE

Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity. For CCA diluted earnings per share is computed by dividing net income by the weighted average number of common shares after considering the additional dilution related to restricted stock-based compensation and stock options.

A reconciliation of the numerator and denominator of the basic earnings per share computation to the numerator and denominator of the diluted earnings per share computation is as follows (in thousands, except per share data):


	For the Three Months					For the Nine Months
	Ended September 30,					Ended September 30,
	2010			2009		2010			2009
NUMERATOR
Basic:
Income from continuing operations	$	42,111		$	43,475	$	113,892		$	109,412
Income (loss) from discontinued operations, net of tax		(147	)		1,777		(404	)		3,051

Net income	$	41,964		$	45,252	$	113,488		$	112,463


Diluted:
Income from continuing operations	$	42,111		$	43,475	$	113,892		$	109,412
Income (loss) from discontinued operations, net of tax		(147	)		1,777		(404	)		3,051

Diluted net income	$	41,964		$	45,252	$	113,488		$	112,463


DENOMINATOR
Basic:
Weighted average common shares outstanding		110,160			114,771		112,814			116,391


Diluted:
Weighted average common shares outstanding		110,160			114,771		112,814			116,391
Effect of dilutive securities:
Stock options		711			1,154		773			870
Restricted stock-based compensation		192			244		157			191

Weighted average shares and assumed conversions		111,063			116,169		113,744			117,452


BASIC EARNINGS PER SHARE:
Income from continuing operations	$	038		$	0.38	$	1.01		$	0.94
Income (loss) from discontinued operations, net of tax		—			0.01		—			0.03

Net income	$	0.38		$	0.39	$	1.01		$	0.97


DILUTED EARNINGS PER SHARE:
Income from continuing operations	$	0.38		$	0.38	$	1.00		$	0.93
Income (loss) from discontinued operations, net of tax		—			0.01		—			0.03

Net income	$	0.38		$	0.39	$	1.00		$	0.96

Commitments and Contingencies

9 Months Ended

Sep. 30, 2010

Commitments and Contingencies [Abstract]

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES

Legal Proceedings

The nature of CCA’s business results in claims and litigation alleging that it is liable for damages arising from the conduct of its employees, inmates or others. The nature of such claims includes, but is not limited to, claims arising from employee or inmate misconduct, medical malpractice, employment matters, property loss, contractual claims, and personal injury or other damages resulting from contact with CCA’s facilities, personnel or inmates, including damages arising from an inmate’s escape or from a disturbance or riot at a facility. CCA maintains insurance to cover many of these claims, which may mitigate the risk that any single claim would have a material effect on CCA’s consolidated financial position, results of operations, or cash flows, provided the claim is one for which coverage is available. The combination of self-insured retentions and deductible amounts means that, in the aggregate, CCA is subject to substantial self-insurance risk.

CCA records litigation reserves related to certain matters for which it is probable that a loss has been incurred and the range of such loss can be estimated. Based upon management’s review of the potential claims and outstanding litigation and based upon management’s experience and history of estimating losses, and taking into consideration CCA’s self-insured retention amounts, management believes a loss in excess of amounts already recognized would not be material to CCA’s financial statements. In the opinion of management, there are no pending legal proceedings that would have a material effect on CCA’s consolidated financial position, results of operations, or cash flows. Any receivable for insurance recoveries is recorded separately from the corresponding litigation reserve, and only if recovery is determined to be probable. Adversarial proceedings and litigation are, however, subject to inherent uncertainties, and unfavorable decisions and rulings could occur which could have a material adverse impact on CCA’s consolidated financial position, results of operations, or cash flows for the period in which such decisions or rulings occur, or future periods. Expenses associated with legal proceedings may also fluctuate from quarter to quarter based on changes in CCA’s assumptions, new developments, or by the effectiveness of CCA’s litigation and settlement strategies.

Guarantees

Hardeman County Correctional Facilities Corporation (“HCCFC”) is a nonprofit, mutual benefit corporation organized under the Tennessee Nonprofit Corporation Act to purchase, construct, improve, equip, finance, own and manage a detention facility located in Hardeman County, Tennessee. HCCFC was created as an instrumentality of Hardeman County to implement the County’s incarceration agreement with the state of Tennessee to house certain inmates.

During 1997, HCCFC issued $72.7 million of revenue bonds, which were primarily used for the construction of a 2,016-bed medium security correctional facility. In addition, HCCFC entered into a construction and management agreement with CCA in order to assure the timely and coordinated acquisition, construction, development, marketing and operation of the correctional facility.

HCCFC leases the correctional facility to Hardeman County in exchange for all revenue from the operation of the facility. HCCFC has, in turn, entered into a management agreement with CCA for the correctional facility.

In connection with the issuance of the revenue bonds, CCA is obligated, under a debt service deficit agreement, to pay the trustee of the bond’s trust indenture (the “Trustee”) amounts necessary to pay any debt service deficits consisting of principal and interest requirements (outstanding principal balance of $37.7 million at September 30, 2010 plus future interest payments). In the event the state of Tennessee, which is currently utilizing the facility to house certain inmates, exercises its option to purchase the correctional facility, CCA is also obligated to pay the difference between principal and interest owed on the bonds on the date set for the redemption of the bonds and amounts paid by the state of Tennessee for the facility plus all other funds on deposit with the Trustee and available for redemption of the bonds. Ownership of the facility reverts to the state of Tennessee in 2017 at no cost. Therefore, CCA does not currently believe the state of Tennessee will exercise its option to purchase the facility. At September 30, 2010, the outstanding principal balance of the bonds exceeded the purchase price option by $10.0 million.

Income Taxes

9 Months Ended

Sep. 30, 2010

Income Taxes [Abstract]

INCOME TAXES

10.

INCOME TAXES

Income taxes are accounted for under the provisions of ASC 740 “Income Taxes”. ASC 740 generally requires CCA to record deferred income taxes for the tax effect of differences between book and tax bases of its assets and liabilities.

Deferred income taxes reflect the available net operating losses and the net tax effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Realization of the future tax benefits related to deferred tax assets is dependent on many factors, including CCA’s past earnings history, expected future earnings, the character and jurisdiction of such earnings, unsettled circumstances that, if unfavorably resolved, would adversely affect utilization of its deferred tax assets, carryback and carryforward periods, and tax strategies that could potentially enhance the likelihood of realization of a deferred tax asset.

CCA’s effective tax rate was 37.5% and 37.9% during the three and nine months ended September 30, 2010, respectively, compared with 25.8% and 33.7% during the same periods in the prior year. CCA’s overall effective tax rate is estimated based on its current projection of annual taxable income and could change in the future as a result of changes in these estimates, the implementation of tax strategies, changes in federal or state tax rates or laws affecting tax credits available to CCA, changes in other tax laws, changes in estimates related to uncertain tax positions, or changes in state apportionment factors, as well as changes in the valuation allowance applied to CCA’s deferred tax assets that are based primarily on the amount of state net operating losses and tax credits that could expire unused.

Income tax expense during the three and nine months ended September 30, 2009 includes an income tax benefit of $5.7 million for the reversal of a liability for uncertain tax positions. Income tax expense for the three and nine months ended September 30, 2009 also reflects the implementation of certain tax strategies, including the successful pursuit of additional federal and state tax credits pertaining to job creation totaling approximately $0.7 million, additional investment tax credits of $0.3 million resulting from capital expenditures in the state of Colorado, and $0.2 million of other federal and state tax credits.

Income Tax Contingencies

In July 2006, the FASB issued new guidance related to accounting for tax contingencies, which prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The guidance prescribed in ASC 740 establishes a recognition threshold of more likely than not that a tax position will be sustained upon examination. The measurement attribute requires that a tax position be measured at the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement.

CCA has a $0.2 million liability recorded for uncertain tax positions as of September 30, 2010, included in other non-current liabilities in the accompanying consolidated balance sheet. CCA recognizes interest and penalties related to unrecognized tax positions in income tax expense. The total amount of unrecognized tax positions that, if recognized, would affect the effective tax rate is $0.2 million. CCA does not currently anticipate that the total amount of unrecognized tax positions will significantly increase or decrease in the next twelve months.

Segment Reporting

9 Months Ended

Sep. 30, 2010

Segment Reporting [Abstract]

SEGMENT REPORTING

11.

SEGMENT REPORTING

As of September 30, 2010, CCA owned and managed 45 correctional and detention facilities, and managed 21 correctional and detention facilities it did not own. Management views CCA’s operating results in two reportable segments: (1) owned and managed correctional and detention facilities and (2) managed-only correctional and detention facilities. The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies in the notes to consolidated financial statements included in the 2009 Form 10-K. Owned and managed facilities include the operating results of those facilities placed into service that were owned and managed by CCA. Managed-only facilities include the operating results of those facilities owned by a third party and managed by CCA. CCA measures the operating performance of each facility within the above two reportable segments, without differentiation, based on facility contribution. CCA defines facility contribution as a facility’s operating income or loss from operations before interest, taxes, goodwill impairment, depreciation, and amortization. Since each of CCA’s facilities within the two reportable segments exhibit similar economic characteristics, provide similar services to governmental agencies, and operate under a similar set of operating procedures and regulatory guidelines, the facilities within the identified segments have been aggregated and reported as one reportable segment.

The revenue and facility contribution for the reportable segments and a reconciliation to CCA’s operating income is as follows for the three and nine months ended September 30, 2010 and 2009 (amounts in thousands):


	For the Three Months						For the Nine Months
	Ended September 30,						Ended September 30,
	2010			2009			2010			2009

Revenue:
Owned and managed	$	340,473		$	335,470		$	993,739		$	977,797
Managed-only		84,865			78,752			243,721			228,718

Total management revenue		425,338			414,222			1,237,460			1,206,515


Operating expenses:
Owned and managed		214,727			218,557			641,761			637,009
Managed-only		73,772			69,531			214,811			200,164

Total operating expenses		288,499			288,088			856,572			837,173


Facility contribution:
Owned and managed		125,746			116,913			351,978			340,788
Managed-only		11,093			9,221			28,910			28,554

Total facility contribution		136,839			126,134			380,888			369,342


Other revenue (expense):
Rental and other revenue		1,812			1,217			5,371			4,892
Other operating expense		(3,661	)		(3,387	)		(11,488	)		(11,228	)
General and administrative		(23,606	)		(21,704	)		(62,087	)		(65,015	)
Depreciation and amortization		(26,195	)		(25,313	)		(76,715	)		(74,497	)

Operating income	$	85,189		$	76,947		$	235,969		$	223,494

The following table summarizes capital expenditures for the reportable segments for the three and nine months ended September 30, 2010 and 2009 (amounts in thousands):


	For the Three Months				For the Nine Months
	Ended September 30,				Ended September 30,
	2010		2009		2010		2009
Capital expenditures:
Owned and managed	$	13,480	$	29,416	$	89,587	$	64,478
Managed-only		3,406		2,580		5,733		9,174
Discontinued operations		—		328		83		471
Corporate and other		1,849		3,733		5,333		11,296

Total capital expenditures	$	18,735	$	36,057	$	100,736	$	85,419

The assets for the reportable segments are as follows (amounts in thousands):


	September 30, 2010		December 31, 2009
Assets:
Owned and managed	$	2,732,165	$	2,605,023
Managed-only		113,336		105,827
Corporate and other		170,701		184,194
Discontinued operations		2,062		10,699

Total assets	$	3,018,264	$	2,905,743