1,156,135

1,220,351

1,217,051

106,429

103,590

88,935

113,925

112,692

113,063

Costs and Expenses, Total

27,800

30,082

6,513

1,406,571

1,443,146

1,419,049

41,845

^[1]

69,850

65,535

63,066

56,019

67,271

67,969

59,892

240,296

251,151

304,608

Expenses associated with debt refinancing transactions

39,535

45,126

58,363

36,528

2,099

Other income

(1,204)

(100)

(333)

INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES

38,331

81,554

60,129

201,965

169,597

244,479

Income tax (expense) benefit

(6,943)

134,995

(87,513)

195,022

304,592

156,966

(663)

(2,739)

(355)

(3,757)

(205)

$ 30,006

^[1]

$ 57,546

$ 55,732

$ 51,738

$ 47,471

$ 51,843

$ 20,429

^[2]

$ 181,092

^[3]

$ 195,022

$ 300,835

$ 156,761

BASIC EARNINGS PER SHARE:

$ 1.68

$ 2.77

$ 1.58

$ (0.03)

$ 0.26

^[1]

$ 0.50

$ 0.48

$ 0.45

$ 0.41

$ 0.45

$ 0.19

^[2]

$ 1.81

^[3]

$ 1.68

$ 2.74

$ 1.58

DILUTED EARNINGS PER SHARE:

$ 1.66

$ 2.73

$ 1.56

$ (0.03)

Dividend declared on common stock, per share

$ 0.25

^[1]

$ 0.49

$ 0.48

$ 0.44

$ 0.41

$ 0.44

$ 0.19

^[2]

$ 1.78

^[3]

$ 1.66

$ 2.70

$ 1.56

Regular Dividend

DILUTED EARNINGS PER SHARE:

$ 2.04

$ 1.97

$ 0.60

Special Dividend

DILUTED EARNINGS PER SHARE:

Dividend declared on common stock, per share

$ 6.66

[1]	The earnings amounts in the fourth quarter of 2014 were unfavorably impacted by $27.8 million of non-cash impairments recorded to write down the book values of two of CCA's non-core facilities to the estimated fair values, as discussed in Note 5.
[2]	The earnings amounts in the second quarter of 2013 were negatively impacted by $36.3 million of expenses associated with debt refinancing transactions.
[3]	The earnings amounts in the first quarter of 2013 were favorably impacted by the net tax benefit resulting from the revaluation of certain deferred tax assets and liabilities associated with the REIT conversion effective January 1, 2013.

Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 195,022	$ 300,835	$ 156,761
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	113,925	113,491	113,933
Asset impairments	30,082	9,150
Amortization of debt issuance costs and other non-cash interest	3,102	3,509	4,316
Expenses associated with debt refinancing transactions		36,528	2,099
Deferred income taxes	(3,211)	(151,037)	5,761
Other expenses and non-cash items	4,594	2,623	1,084
Non-cash revenue and other income	(3,880)	(294)
Income tax benefit of equity compensation	(665)	(351)	(2,708)
Non-cash equity compensation	13,975	12,965	12,325
Changes in assets and liabilities, net:
Accounts receivable, prepaid expenses and other assets	(12,549)	16,683	12,189
Accounts payable, accrued expenses and other liabilities	82,396	23,910	(24,219)
Income taxes payable	790	1,492	1,715
Net cash provided by operating activities	423,581	369,504	283,256
CASH FLOWS FROM INVESTING ACTIVITIES:
Expenditures for facility development and expansions	(85,791)	(27,955)	(30,424)
Acquisition of businesses, net of cash acquired		(36,252)
Expenditures for other capital improvements	(49,315)	(48,570)	(49,014)
Capitalized lease payments	(70,793)
Cash paid for leasehold incentive		(12,765)
Decrease in restricted cash	2,983	452
Proceeds from sale of assets	5,136	998	1,838
Increase in other assets	(1,101)	(3,260)	(4,027)
Payments received on direct financing lease and notes receivable	1,994	1,840	1,707
Net cash used in investing activities	(196,887)	(125,512)	(79,920)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of debt	250,000	1,283,000	888,500
Principal repayments of debt	(255,000)	(1,198,000)	(1,023,500)
Payment of debt issuance and other refinancing and related costs		(37,349)	(6,336)
Proceeds from exercise of stock options	12,450	30,171	4,933
Purchase and retirement of common stock	(4,036)	(6,693)	(2,808)
Income tax benefit of equity compensation	665	351	2,708
Increase in restricted cash for dividends	(251)	(1,016)
Dividends paid	(234,048)	(299,434)	(59,768)
Net cash used in financing activities	(230,220)	(228,970)	(196,271)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	(3,526)	15,022	7,065
CASH AND CASH EQUIVALENTS, beginning of year	77,919	62,897	55,832
CASH AND CASH EQUIVALENTS, end of year	74,393	77,919	62,897
Cash paid during the period for:
Interest (net of amounts capitalized of $2,525, $836, and $1,057 in 2014, 2013, and 2012, respectively)	39,928	40,776	66,943
Income taxes	$ 19,717	$ 7,422	$ 83,864

Consolidated Statements of Stockholders' Equity (USD $) In Thousands	Total	Regular Dividend	Special Dividend	Common Stock	Common Stock Special Dividend	Additional Paid-in Capital	Additional Paid-in Capital Special Dividend	(Accumulated Deficit) Retained Earnings	(Accumulated Deficit) Retained Earnings Regular Dividend	(Accumulated Deficit) Retained Earnings Special Dividend
Beginning Balance at Dec. 31, 2011	$ 1,408,022			$ 995		$ 1,129,435		$ 277,592
Beginning Balance (in shares) at Dec. 31, 2011				99,528
Net income	156,761							156,761
Issuance of common stock (in shares)				1
Issuance of common stock	29					29
Retirement of common stock (in shares)				(110)
Retirement of common stock	(2,808)			(1)		(2,807)
Dividend on common stock		(60,222)							(60,222)
Restricted stock compensation, net of forfeitures (in shares)				(13)
Restricted stock compensation, net of forfeitures	7,635					7,635
Stock option compensation expense, net of forfeitures	4,661					4,661
Income tax benefit of equity compensation	2,609					2,609
Restricted stock grant (in shares)				333
Restricted stock grant				3		(3)
Stock options exercised (in shares)				366
Stock options exercised	4,933			4		4,929
Ending Balance at Dec. 31, 2012	1,521,620			1,001		1,146,488		374,131
Ending Balance (in shares) at Dec. 31, 2012				100,105
Net income	300,835							300,835
Issuance of common stock (in shares)				20
Issuance of common stock	27					27
Retirement of common stock (in shares)				(180)
Retirement of common stock	(6,693)			(2)		(6,691)
Dividend on common stock (in shares)					13,878
Dividend on common stock		(221,196)	(135,546)		139		542,541		(221,196)	(678,226)
Restricted stock compensation, net of forfeitures (in shares)				(30)
Restricted stock compensation, net of forfeitures	9,822					9,381		441
Stock option compensation expense, net of forfeitures	3,116					3,116
Income tax benefit of equity compensation	351					351
Restricted stock grant (in shares)				300
Restricted stock grant				3		(3)
Stock options exercised (in shares)				1,830
Stock options exercised	30,171			18		30,153
Ending Balance at Dec. 31, 2013	1,502,507			1,159		1,725,363		(224,015)
Ending Balance (in shares) at Dec. 31, 2013				115,923
Net income	195,022							195,022
Retirement of common stock (in shares)				(118)
Retirement of common stock	(4,036)			(1)		(4,035)
Dividend on common stock		(239,086)							(239,086)
Restricted stock compensation, net of forfeitures (in shares)				(20)
Restricted stock compensation, net of forfeitures	12,093					11,985		108
Stock option compensation expense, net of forfeitures	1,882					1,882
Income tax benefit of equity compensation	665					665
Restricted stock grant (in shares)				267
Restricted stock grant	3			3
Stock options exercised (in shares)				712
Stock options exercised	12,450			7		12,443
Ending Balance at Dec. 31, 2014	$ 1,481,500			$ 1,168		$ 1,748,303		$ (267,971)
Ending Balance (in shares) at Dec. 31, 2014				116,764

ORGANIZATION AND OPERATIONS

12 Months Ended

Dec. 31, 2014

ORGANIZATION AND OPERATIONS

1.	ORGANIZATION AND OPERATIONS

Corrections Corporation of America (together with its subsidiaries, the “Company” or “CCA”) is the nation’s largest owner of privatized correctional and detention facilities and one of the largest prison operators in the United States. As of December 31, 2014, CCA owned or controlled 52 correctional and detention facilities, and managed an additional 12 facilities owned by its government partners, with a total design capacity of approximately 84,500 (unaudited) beds in 19 states and the District of Columbia.

CCA is a Real Estate Investment Trust (“REIT”) specializing in owning, operating and managing prisons and other correctional facilities and providing residential, community re-entry, and prisoner transportation services for governmental agencies. In addition to providing fundamental residential services, CCA’s facilities offer a variety of rehabilitation and educational programs, including basic education, faith-based services, life skills and employment training, and substance abuse treatment. These services are intended to help reduce recidivism and to prepare offenders for their successful re-entry into society upon their release. CCA also provides or makes available to offenders certain health care (including medical, dental and mental health services), food services, and work and recreational programs.

CCA began operating as a REIT for federal income tax purposes effective January 1, 2013. The Company provides correctional services and conducts other business activities through taxable REIT subsidiaries (“TRSs”). A TRS is a subsidiary of a REIT that is subject to applicable corporate income tax and certain qualification requirements. The Company’s use of TRSs enables CCA to comply with REIT qualification requirements while providing correctional services at facilities it owns and at facilities owned by its government partners and to engage in certain other business operations. A TRS is not subject to the distribution requirements applicable to REITs so it may retain income generated by its operations for reinvestment. Consequently, income taxes recorded in 2014 are not comparable to those recorded in 2013 and 2012. See Note 11.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2014

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

2.	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles and include the accounts of CCA on a consolidated basis with its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated.

Cash and Cash Equivalents

CCA considers all liquid debt instruments with a maturity of three months or less at the time of purchase to be cash equivalents.

Restricted Cash

Restricted cash at December 31, 2014 and 2013 of $2.9 million and $5.6 million, respectively, is restricted for a capital improvements, replacements, and repairs reserve fund required by one of CCA’s contracts, and for the payment of dividends on unvested restricted stock.

Accounts Receivable and Allowance for Doubtful Accounts

At December 31, 2014 and 2013, accounts receivable of $248.6 million and $245.0 million were net of allowances for doubtful accounts totaling $0.7 million and $1.3 million, respectively. Accounts receivable consist primarily of amounts due from federal, state, and local government agencies for the utilization of CCA’s correctional and detention facilities, as well as for operating and managing prisons and other correctional facilities and providing offender residential and prisoner transportation services to such government agencies.

Accounts receivable are stated at estimated net realizable value. CCA recognizes allowances for doubtful accounts to ensure receivables are not overstated due to uncollectibility. Bad debt reserves are maintained for customers in the aggregate based on a variety of factors, including the length of time receivables are past due, significant one-time events, and historical experience. If circumstances related to customers change, estimates of the recoverability of receivables would be further adjusted.

Property and Equipment

Property and equipment are carried at cost. Assets acquired by CCA in conjunction with acquisitions are recorded at estimated fair market value at the time of purchase. Betterments, renewals and significant repairs that extend the life of an asset are capitalized; other repair and maintenance costs are expensed. Interest is capitalized to the asset to which it relates in connection with the construction or expansion of facilities. Construction costs directly associated with the development of a correctional facility are capitalized as part of the cost of the development project. Such costs are written-off to general and administrative expense whenever a project is abandoned. The cost and accumulated depreciation applicable to assets retired are removed from the accounts and the gain or loss on disposition is recognized in income. Depreciation is computed over the estimated useful lives of depreciable assets using the straight-line method. Useful lives for property and equipment are as follows:


Land improvements			5 – 20 years
Buildings and improvements			5 – 50 years
Equipment and software			3 – 5 years
Office furniture and fixtures			5 years

Accounting for the Impairment of Long-Lived Assets Other Than Goodwill

Long-lived assets other than goodwill are reviewed for impairment when circumstances indicate the carrying value of an asset may not be recoverable. When circumstances indicate an asset may not be recoverable, impairment is recognized when the estimated undiscounted cash flows associated with the asset or group of assets is less than their carrying value. If impairment exists, an adjustment is made to write the asset down to its fair value, and a loss is recorded as the difference between the carrying value and fair value. Fair values are determined based on quoted market values, comparable sales data, discounted cash flows or internal and external appraisals, as applicable.

Goodwill

Goodwill represents the cost in excess of the net assets of businesses acquired. As further discussed in Note 3, goodwill is tested for impairment at least annually using a fair-value based approach.

Investment in Direct Financing Lease

Investment in direct financing lease represents the portion of CCA’s management contract with a governmental agency that represents lease payments on buildings and equipment. The lease is accounted for using the financing method and, accordingly, the minimum lease payments to be received over the term of the lease less unearned income are capitalized as CCA’s investment in the lease. Unearned income is recognized as income over the term of the lease using the interest method.

Investment in Affiliates

Investments in affiliates that are equal to or less than 50%-owned over which CCA can exercise significant influence are accounted for using the equity method of accounting. Investments under the equity method are recorded at cost and subsequently adjusted for contributions, distributions, and net income attributable to the Company’s ownership based on the governing agreement.

Debt Issuance Costs

Generally, debt issuance costs, which are included in other assets in the consolidated balance sheets, are capitalized and amortized into interest expense using the interest method, or on a straight-line basis over the term of the related debt, if not materially different than the interest method. However, certain debt issuance costs incurred in connection with debt refinancings are charged to expense in accordance with Accounting Standards Codification (“ASC”) 470-50, “Modifications and Extinguishments.”

Revenue Recognition

CCA maintains contracts with certain governmental entities to manage their facilities for fixed per diem rates. CCA also maintains contracts with various federal, state, and local governmental entities for the housing of offenders in company-owned facilities at fixed per diem rates or monthly fixed rates. These contracts usually contain expiration dates with renewal options ranging from annual to multi-year renewals. Most of these contracts have current terms that require renewal every two to five years. Additionally, most facility management contracts contain clauses that allow the government agency to terminate a contract without cause, and are generally subject to legislative appropriations. CCA generally expects to renew these contracts for periods consistent with the remaining renewal options allowed by the contracts or other reasonable extensions; however, no assurance can be given that such renewals will be obtained. Fixed monthly rate revenue is recorded in the month earned and fixed per diem revenue, including revenue under those contracts that include guaranteed minimum populations, is recorded based on the per diem rate multiplied by the number of offenders housed or guaranteed during the respective period.

CCA recognizes any additional management service revenues upon completion of services provided to the customer. Certain of the government agencies also have the authority to audit and investigate CCA’s contracts with them. If the agency determines that CCA has improperly allocated costs to a specific contract or otherwise was unable to perform certain contractual services, CCA may not be reimbursed for those costs and could be required to refund the amount of any such costs that have been reimbursed.

Rental revenue is recognized in accordance with ASC 840, “Leases”. In accordance with ASC 840, minimum rental revenue is recognized on a straight-line basis over the term of the related lease. Leasehold incentives are recognized as a reduction to rental revenue on a straight-line basis over the term of the related lease. Rental revenue associated with expense reimbursements from tenants are recognized in the period that the related expenses are incurred based upon the tenant lease provision.

In September 2014, CCA agreed under an expansion of an existing inter-governmental service agreement (“IGSA”) between the city of Eloy, Arizona and the U.S. Immigration and Customs Enforcement (“ICE”) to provide residential space and services at the newly activated South Texas Family Residential Center. The amended IGSA qualifies as a multiple-element arrangement under the guidance in ASC 605, “Revenue Recognition”. CCA evaluates each deliverable in an arrangement to determine whether it represents a separate unit of accounting. A deliverable constitutes a separate unit of accounting when it has standalone value to the customer. ASC 605 requires revenue to be allocated to each unit of accounting based on a selling price hierarchy. The selling price for a deliverable is based on its vendor specific objective evidence (“VSOE”) of selling price, if available, third party evidence (“TPE”) if VSOE of selling price is not available, or estimated selling price (“ESP”) if neither VSOE of selling price nor TPE is available. CCA establishes VSOE of selling price using the price charged for a deliverable when sold separately. CCA establishes TPE of selling price by evaluating similar products or services in standalone sales to similarly situated customers. CCA establishes ESP based on management judgment considering internal factors such as margin objectives, pricing practices and controls, and market conditions. In arrangements with multiple elements, CCA allocates the transaction price to the individual units of accounting at inception of the arrangement based on their relative selling price.

Other revenue consists primarily of ancillary revenues associated with operating correctional and detention facilities, such as commissary, phone, and vending sales, and are recorded in the period the goods and services are provided. Revenues generated from prisoner transportation services for governmental agencies are recorded in the period the inmates have been transported to their destination.

Self-Funded Insurance Reserves

CCA is significantly self-insured for employee health, workers’ compensation, automobile liability claims, and general liability claims. As such, CCA’s insurance expense is largely dependent on claims experience and CCA’s ability to control its claims experience. CCA has consistently accrued the estimated liability for employee health insurance based on its history of claims experience and time lag between the incident date and the date the cost is paid by CCA. CCA has accrued the estimated liability for workers’ compensation claims based on an actuarially determined liability, discounted to the net present value of the outstanding liabilities, using a combination of actuarial methods used to project ultimate losses, and the Company’s automobile insurance claims based on estimated development factors on claims incurred. The liability for employee health, workers’ compensation, and automobile insurance includes estimates for both claims incurred and for claims incurred but not reported. CCA records litigation reserves related to general liability matters for which it is probable that a loss has been incurred and the range of such loss can be estimated. These estimates could change in the future.

Income Taxes

CCA began operating as a REIT for federal income tax purposes effective January 1, 2013. As a REIT, the Company generally is not subject to corporate level federal income tax on taxable income it distributes to its shareholders as long as it meets the organizational and operational requirements under the REIT rules. However, certain subsidiaries have made an election with the Company to be treated as TRSs in conjunction with the Company’s REIT election. The TRS elections permit CCA to engage in certain business activities in which the REIT may not engage directly, so long as these activities are conducted in entities that elect to be treated as TRSs under the Internal Revenue Code. A TRS is subject to federal and state income taxes on the income from these activities and therefore, CCA includes a provision for taxes in its consolidated financial statements.

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 using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in the statement of operations in the period that includes the enactment date. 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.

Income tax contingencies are accounted for under the provisions of ASC 740. ASC 740 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.

Foreign Currency Transactions

CCA has extended a working capital loan to Agecroft Prison Management, Ltd. (“APM”), the operator of a correctional facility in Salford, England previously owned by a subsidiary of CCA. The working capital loan is denominated in British pounds; consequently, CCA adjusts these receivables to the current exchange rate at each balance sheet date and recognizes the unrealized currency gain or loss in current period earnings. See Note 6 for further discussion of CCA’s relationship with APM.

Fair Value of Financial Instruments

To meet the reporting requirements of ASC 825, “Financial Instruments”, regarding fair value of financial instruments, CCA calculates the estimated fair value of financial instruments using market interest rates, quoted market prices of similar instruments, or discounted cash flow techniques with observable Level 1 inputs for publicly traded debt and Level 2 inputs for all other financial instruments, as defined in ASC 820, “Fair Value Measurement”. At December 31, 2014 and 2013, there were no material differences between the carrying amounts and the estimated fair values of CCA’s financial instruments, other than as follows (in thousands):


	December 31,
	2014						2013
	Carrying Amount			Fair Value			Carrying Amount			Fair Value
Investment in direct financing lease	$	5,473		$	6,048		$	7,466		$	8,609
Note receivable from APM	$	3,677		$	6,539		$	4,831		$	9,006
Debt	$	(1,200,000	)	$	(1,179,625	)	$	(1,205,000	)	$	(1,179,375	)

Use of Estimates in Preparation of Financial Statements

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities, at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates and those differences could be material.

Concentration of Credit Risks

CCA’s credit risks relate primarily to cash and cash equivalents, restricted cash, accounts receivable, and an investment in a direct financing lease. Cash and cash equivalents and restricted cash are primarily held in bank accounts and overnight investments. CCA maintains deposits of cash in excess of federally insured limits with certain financial institutions. CCA’s accounts receivable and investment in direct financing lease represent amounts due primarily from governmental agencies. CCA’s financial instruments are subject to the possibility of loss in carrying value as a result of either the failure of other parties to perform according to their contractual obligations or changes in market prices that make the instruments less valuable.

CCA derives its revenues primarily from amounts earned under federal, state, and local government contracts. For each of the years ended December 31, 2014, 2013, and 2012, federal correctional and detention authorities represented 44% of CCA’s total revenue. Federal correctional and detention authorities consist primarily of the Federal Bureau of Prisons (“BOP”), the United States Marshals Service (“USMS”), and ICE. The BOP accounted for 13%, 13%, and 12% of total revenue for 2014, 2013, and 2012, respectively. The USMS accounted for 17%, 19%, and 20% of total revenue for 2014, 2013, and 2012, respectively. ICE accounted for 13%, 12%, and 12% of total revenue for 2014, 2013, and 2012, respectively. These federal customers have management contracts at facilities CCA owns and at facilities CCA manages but does not own. Additionally, CCA’s management contracts with state correctional authorities represented 48%, 49%, and 49% of total revenue during the years ended December 31, 2014, 2013, and 2012, respectively. The State of California Department of Corrections and Rehabilitation (the “CDCR”) accounted for 14%, 12%, and 12% of total revenue for the years ended December 31, 2014, 2013, and 2012, respectively, including revenue generated under an operating lease that commenced December 1, 2013, at a facility we own in California. No other customer generated more than 10% of total revenue during 2014, 2013, or 2012. Although the revenue generated from each of these agencies is derived from numerous management contracts, the loss of one or more of such contracts could have a material adverse impact on CCA’s financial condition and results of operations.

Accounting for Stock-Based Compensation

Restricted Stock

CCA accounts for restricted stock-based compensation under the recognition and measurement principles of ASC 718, “Compensation-Stock Compensation”. CCA amortizes the fair market value as of the grant date of restricted stock awards over the vesting period using the straight-line method. The fair market value of performance-based restricted stock is amortized over the vesting period as long as CCA expects to meet the performance criteria. If achievement of the performance criteria becomes improbable, an adjustment is made to reverse the expense previously recognized.

Stock Options

CCA’s stock option plans are described more fully in Note 13. CCA accounts for those plans under the recognition and measurement principles of ASC 718. All options granted under those plans had an exercise price equal to the market value of the underlying common stock on the date of grant.

Recent Accounting Pronouncements

In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, “Revenue from Contracts with Customers”, which establishes a single, comprehensive revenue recognition standard for all contracts with customers. For public reporting entities such as CCA, ASU 2014-09 is effective for interim and annual periods beginning after December 15, 2016 and early adoption of the ASU is not permitted. CCA is reviewing the ASU to determine the potential impact it might have on the Company’s results of operations, cash flows, or financial position and its related financial statement disclosures, along with evaluating which transition method will be utilized upon adoption.

The entire disclosure for all significant accounting policies of the reporting entity.

+ References+ Details

GOODWILL

12 Months Ended

Dec. 31, 2014

GOODWILL

3.	GOODWILL

ASC 350, “Intangibles-Goodwill and Other”, establishes accounting and reporting requirements for goodwill and other intangible assets. Goodwill was $16.1 million as of December 31, 2014 and 2013. This goodwill was established in connection with the acquisition of Correctional Alternatives Inc. (“CAI”) during the third quarter of 2013, as further described in Note 5, and the acquisitions of two service companies during 2000.

CCA applies the FASB’s ASU 2011-08, which gives companies the option to perform a qualitative assessment that may allow them to skip the annual two-step impairment test. Under the amendments in ASU 2011-08, a company has the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing the totality of events or circumstances, an entity determines it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then performing the two-step impairment test is unnecessary. If the two-step impairment test is required, CCA determines the fair value of a reporting unit using a collaboration of various common valuation techniques, including market multiples and discounted cash flows. These impairment tests are required to be performed at least annually. CCA performed its impairment tests during the fourth quarter, in connection with CCA’s annual budgeting process, and concluded no impairments had occurred. CCA will perform these impairment tests at least annually and whenever circumstances indicate the carrying value of goodwill may not be recoverable.

During the fourth quarter of 2013, CCA reported an asset impairment of $1.1 million for the write-off of goodwill associated with the Bay Correctional Facility in Florida. In the fourth quarter of 2013, the Florida Department of Management Services (“DMS”) awarded to another operator the contract to manage this facility owned by the state of Florida upon the expiration of CCA’s contract on January 31, 2014.

During the third quarter of 2013, CCA reported an asset impairment of $1.0 million for the write-off of goodwill associated with the Idaho Correctional Center. During the second quarter of 2013, the state of Idaho reported that they expected to solicit bids for the management of the Idaho Correctional Center upon the expiration of CCA’s contract in June 2014. During the third quarter of 2013, CCA decided not to submit a bid for the continued management of this facility. The state assumed management of the facility effective July 1, 2014.

During the second quarter of 2013, CCA received notification that it was not selected for the continued management of the Wilkinson County Correctional Facility at the end of the contract on June 30, 2013. As a result of this managed-only contract termination, during the second quarter of 2013, CCA recorded asset impairments of $2.6 million consisting of a goodwill impairment charge of $0.8 million and $1.8 million for other assets. These charges are reported as discontinued operations in the accompanying statement of operations for the year ended December 31, 2013.

PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2014

PROPERTY AND EQUIPMENT

4.	PROPERTY AND EQUIPMENT

At December 31, 2014, CCA owned 54 real estate properties, including 52 correctional and detention facilities, three of which CCA leased to other operators, and two corporate office buildings. At December 31, 2014, CCA also managed 12 correctional and detention facilities owned by governmental agencies.

Property and equipment, at cost, consists of the following (in thousands):


	December 31,
	2014			2013
Land and improvements	$	127,221		$	127,246
Buildings and improvements		3,048,836			3,058,748
Equipment and software		326,603			316,696
Office furniture and fixtures		30,884			30,969
Construction in progress		276,508			93,187

		3,810,052			3,626,846
Less: Accumulated depreciation		(1,151,424	)		(1,080,233	)

	$	2,658,628		$	2,546,613

Construction in progress primarily consists of correctional facilities under construction or expansion. Interest is capitalized on construction in progress and amounted to $2.5 million, $0.8 million, and $1.1 million in 2014, 2013, and 2012, respectively.

Depreciation expense was $114.0 million, $112.8 million, and $113.2 million for the years ended December 31, 2014, 2013, and 2012, respectively.

Eleven of the facilities owned by CCA are subject to options that allow various governmental agencies to purchase those facilities. Certain of these options to purchase are based on a depreciated book value while others are based on a fair market value calculation. In addition, two facilities, one of which is also subject to a purchase option, are constructed on land that CCA leases from governmental agencies under ground leases. Under the terms of those ground leases, the facilities become the property of the governmental agencies upon expiration of the ground leases in 2015 and 2017. CCA depreciates these properties over the shorter of the term of the applicable ground lease or the estimated useful life of the property.

CCA leases portions of the land and building of the San Diego Correctional Facility under an operating lease that expires December 2015 pursuant to amended lease terms executed between CCA and the County of San Diego in January 2010. CCA also leases land and building at the Elizabeth Detention Center under operating leases that expire in June 2015. During December 2013, CCA elected to terminate the lease of land and building at the North Georgia Detention Center effective during the first quarter of 2014.

CCA leases the South Texas Family Residential Center and the site upon which it is being constructed from a third-party lessor. CCA’s lease agreement with the lessor is over a base period co-terminus with an amended IGSA with ICE, as further described in Note 5, and includes two one-year renewal periods. However, under terms of the lease agreement, if ICE terminates the amended IGSA for convenience, CCA can terminate the agreement, without penalty, by providing the lessor with a 90-day notice. In the event ICE elects to terminate the amended IGSA due to a non-appropriation of funds, CCA must provide a 60-day notice period to the lessor. If ICE terminates the IGSA due to non-appropriation of funds without notice to CCA, CCA may not be able to provide a timely termination notice to the lessor and could, therefore, be subject to a penalty the equivalent of up to two months of payments due to the lessor, which would currently amount to approximately $13.4 million.

In January 2015, a class action lawsuit was filed in federal district court for the District of Columbia against the Secretary of the Department of Homeland Security (“DHS”) and certain ICE officials. The complaint sought to certify a class of plaintiffs, consisting of Central American mothers and children who (i) have been or will be detained in ICE family detention facilities since June 2014, (ii) have been or will be determined to have a credible fear of persecution in their home country under federal asylum laws and (iii) are eligible for release on bond pursuant to certain federal statutes but have been or will be denied such release after being subject to an ICE custody determination that took deterrence of mass migration into account. In February 2015, the court certified the class and granted the plaintiffs’ motion for a preliminary injunction, enjoining DHS from detaining class members for the purpose of deterring future immigration to the United States and from considering deterrence of such immigration as a factor in such custody determinations until a final determination has been reached on the merits of the action. CCA has not received any instruction from ICE on what action they intend to take in response to the court order, or how and whether it will affect CCA’s contract at the South Texas Family Residential Center. Any adverse decision with regard to this contract could materially affect CCA’s financial condition and results of operations.

CCA’s lease agreement with the third-party lessor required CCA to pay $70.0 million in September 2014, which resulted in CCA being deemed the owner of the constructed assets for accounting purposes, in accordance with ASC 840-40-55, formerly Emerging Issues Task Force No. 97-10, “The Effect of Lessee Involvement in Asset Construction”. Accordingly, CCA is recording an asset representing the estimated costs incurred attributable to the building assets being constructed by the third-party lessor and a related financing liability. CCA will depreciate the asset over the four-year term of the lease and will impute interest for the financing liability. Additionally, CCA determined that the lease with the third-party lessor also includes separate units of account for the land and pre-existing cottages as well as food services provided by the third-party lessor. The amount of consideration allocated to each of these separate deliverables was determined based on the relative selling price of the lessor-financing, the land lease, the lease of pre-existing cottages, and the food services. The operating lease term for the land is equivalent to the four-year term of the lease and is recognized on a straight-line basis over the lease term. The operating lease term for the pre-existing cottages is the four-month period in which CCA expects to use the cottages for housing residents. The food services provided by the third-party lessor are recognized proportionally based on the number of beds available to ICE during the construction period until such time as the facility reaches its capacity of 2,400 beds which is expected to be in the second quarter of 2015. In addition to the lease commitments described above, as of December 31, 2014, CCA has contractually committed $57.6 million for tenant improvements, furniture and equipment, and various other services related to the South Texas Family Residential Center even though many of these agreements provide CCA with the ability to terminate if ICE terminates the amended IGSA.

The rental expense incurred for the leases at these four facilities, inclusive of the expenses recognized for the South Texas lease, as described above, was $9.1 million, $5.9 million, and $4.7 million for the years ended December 31, 2014, 2013, and 2012, respectively. Future minimum lease payments as of December 31, 2014 under these operating leases, inclusive of $287.4 million of payments expected to be made under the cancelable lease at the South Texas facility, are as follows (in thousands):


2015	$	83,427
2016		79,538
2017		73,412
2018		53,733
2019		—
Thereafter		—

In December 2009, CCA entered into an Economic Development Agreement (“EDA”) with the Wheeler County Development Authority (“Wheeler County”) in Wheeler County, Georgia to implement a tax abatement plan related to CCA’s bed expansion project at its Wheeler Correctional Facility. The tax abatement plan provides for 50% abatement of real property taxes for six years. In December 2009, Wheeler County issued bonds in a maximum principal amount of $30.0 million. Also, in December 2009, CCA entered into an EDA with the Douglas-Coffee County Industrial Authority (“Coffee County”) in Coffee County, Georgia to implement a tax abatement plan related to CCA’s bed expansion project at its Coffee Correctional Facility. The tax abatement plan provides for 100% abatement of real property taxes for five years. In December 2009, Coffee County issued bonds in a maximum principal amount of $33.0 million. In June 2013, CCA also entered into an EDA with the Development Authority of Telfair County (“Telfair County”) in Telfair County, Georgia to implement a tax abatement plan related to CCA’s bed expansion project at its McRae Correctional Facility. The tax abatement plan provides for 90% abatement of real property taxes in the first year, decreasing by 10% over the subsequent nine years. In June 2013, Telfair County issued bonds in a maximum principal amount of $15.0 million.

According to each of the EDAs, legal title of CCA’s real property was transferred to the respective county. Pursuant to each EDA, the bonds were issued to CCA, so no cash exchanged hands. In each case, the applicable county authority then leased the real property back to CCA. The lease payments are equal to the amount of the payments on the bonds. At any time, CCA has the option to purchase the real property by paying off the bonds, plus $100. Due to the form of the transactions, CCA has not recorded the bonds or the capital leases associated with sale lease-back transactions. The original cost of CCA’s property and equipment is recorded on the balance sheet and is being depreciated over its estimated useful life.

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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REAL ESTATE TRANSACTIONS

12 Months Ended

Dec. 31, 2014

REAL ESTATE TRANSACTIONS

5.	REAL ESTATE TRANSACTIONS

Acquisitions

On July 31, 2013, CCA acquired in a business combination all of the stock of CAI, a privately held San Diego, California community corrections company that specializes in residential re-entry, home detention, and work furlough programs for San Diego County, the BOP and United States Pretrial and Probation. CCA acquired CAI as a strategic investment in a complementary business that broadens the scope of solutions it provides, from incarceration through release, and supporting its belief in helping offenders successfully transition to society. The consideration paid for CAI, consisted of approximately $36.5 million in cash, excluding transaction related expenses of $0.8 million. The purchase price was allocated based on fair value for the assets acquired and the liabilities assumed. In allocating the purchase price, CCA recorded $7.0 million of goodwill, $26.9 million of identifiable intangible assets, $7.9 million of intangible liabilities, $17.7 million of net tangible assets, and $7.2 million of deferred tax liabilities. Several factors gave rise to the goodwill recorded in the acquisition, such as the expected benefit from synergies of the combination and the long-term contracts within a complementary business that broadens the scope of solutions CCA provides. The results of operations for CAI have been included in the Company’s consolidated financial statements from the date of acquisition.

Real Estate Closures and Idle Facilities

CCA has five idled core facilities that are currently available and being actively marketed to other customers. CCA considers its core facilities to be those that were designed for adult secure correctional purposes. The following table summarizes each of the idled core facilities and their respective carrying values, excluding equipment and other assets that could generally be transferred and used at other facilities CCA owns without significant cost (dollars in thousands):


	Design Capacity		Date Idled		Net Carrying Values at December 31,
Facility	Design Capacity		Date Idled		2014		2013
Prairie Correctional Facility		1,600		2010	$	18,748	$	19,366
Huerfano County Correctional Center		752		2010		19,033		19,800
Diamondback Correctional Facility		2,160		2010		44,480		44,223
Otter Creek Correctional Center		656		2012		24,089		24,805
Marion Adjustment Center		826		2013		12,978		13,429

		5,994			$	119,328	$	121,623

CCA also has three idled non-core facilities with carrying values amounting to $1.3 million and $30.4 million as of December 31, 2014 and 2013, respectively. CCA considers the Shelby Training Center, Queensgate Correctional Facility, and Mineral Wells Pre-Parole Transfer Facility to be non-core facilities because they were designed for uses other than for adult secure correctional purposes. From the date each of the aforementioned eight facilities became idle, CCA incurred approximately $7.9 million, $6.4 million, and $6.0 million in operating expenses for the years ended December 31, 2014, 2013, and 2012, respectively. The operating expenses incurred in 2014 and 2013 exclude the incremental expenses incurred in connection with the activation of the Diamondback facility which began in the third quarter of 2013 and continued until near the end of the second quarter of 2014, when anticipated opportunities to activate the facility were deferred.

CCA considers the cancellation of a contract as an indicator of impairment and tested each of the aforementioned facilities for impairment when it was notified by the respective customers that they would no longer be utilizing such facility. Upon notification of cancellation by the respective customers, CCA concluded in each case that no impairment had occurred. CCA updates the impairment analyses on an annual basis for each of the idled facilities and evaluates on a quarterly basis market developments for the potential utilization of each of these facilities in order to identify events that may cause CCA to reconsider its most recent assumptions. As a result of CCA’s analyses, CCA determined each of the five core assets to have recoverable values in excess of the corresponding carrying values.

In the fourth quarter of 2014, CCA made the decision to actively pursue the sale of the Queensgate Correctional Facility, idle since 2009, and the Mineral Wells Pre-Parole Transfer Facility, idle since 2013. CCA reviewed comparable sales data and concluded that either the exit value in the principle market or comparable sales prices for similar properties in the respective geographical areas represented the fair value of these non-core assets. CCA determined the principle market for these non-core assets will be buyers who intend to use the assets for purposes other than as correctional facilities. The aggregate net book value of these facilities prior to the evaluation for impairment was $28.8 million and, as a result of the impairment indicator resulting from the potential sale of the facilities, CCA recorded non-cash impairments totaling $27.8 million during the fourth quarter of 2014 to write down the book values of the Queensgate and Mineral Wells facilities to the estimated fair values using Level 2 inputs for quoted prices of similar assets and assuming asset sales for uses other than correctional facilities.

Sales

In the third quarter of 2014, CCA entered into a purchase and sale agreement with a third party to sell its idled Houston Educational Facility in Houston, Texas for $4.5 million. The Houston Educational Facility was another non-core asset that was previously leased to a charter school operator. CCA closed on the sale during the fourth quarter of 2014. The net book value of this facility prior to the evaluation for impairment was $6.4 million and, as a result of the impairment indicator resulting from the potential sale of the facility, CCA recorded a non-cash impairment of $2.2 million during the second quarter of 2014 to write-down the book value of the facility to the estimated fair value using Level 2 inputs. The ultimate sale price was used as a proxy for the fair value of the facility.

Construction of New Facilities

In order to retain federal inmate populations CCA currently manages in the 1,154-bed San Diego Correctional Facility, CCA is constructing the 1,492-bed Otay Mesa Detention Center in San Diego. The existing San Diego Correctional Facility is subject to a ground lease with the County of San Diego. Under the provisions of the lease, the facility is divided into different premises whereby, pursuant to an amendment to the ground lease executed in January 2010, ownership of the entire facility reverts to the County upon expiration of the lease on December 31, 2015. As of December 31, 2014, CCA has invested approximately $121.5 million in the new facility. CCA has developed plans to build the Otay Mesa Detention Center within a construction timeline that coincides with the expiration of the ground lease with the County of San Diego. CCA plans to offer this new facility to house the existing federal inmate populations at the San Diego Correctional Facility.

In November 2013, CCA announced its decision to re-commence construction of a correctional facility in Trousdale County, Tennessee. CCA suspended construction of this facility in 2009 until it had greater clarity around the timing of a new contract. In October 2013, Trousdale County received notice from the Tennessee Department of Corrections of its intent to partner with the County to develop a new correctional facility to house state of Tennessee inmates. In April 2014, CCA entered into an agreement with Trousdale County whereby CCA agreed to finance, design, build and operate a 2,552-bed facility to meet the responsibilities of a separate IGSA between Trousdale County and the state of Tennessee regarding correctional services. In July 2014, CCA received notice that Trousdale County and the state of Tennessee finalized the IGSA. The IGSA with the state of Tennessee includes a minimum monthly payment plus a per diem payment for each inmate housed in the facility in excess of 90% of the design capacity, provided that during a twenty-six week ramp period the minimum payment is based on the greater of the number of inmates actually at the facility or 90% of the beds available pursuant to the ramp schedule. As of December 31, 2014, CCA has invested approximately $60.7 million in the Trousdale Turner Correctional Center and construction is expected to be completed in the fourth quarter of 2015.

Activations

In September 2012, CCA announced that it was awarded a new management contract from the Arizona Department of Corrections to house up to 1,000 medium-security inmates at its 1,596-bed Red Rock Correctional Center in Arizona. The new management contract, which commenced in January 2014, contains an initial term of ten years, with two five-year renewal options upon mutual agreement and provides an occupancy guarantee of 90% of the contracted beds, which is expected to be implemented in two phases. The government partner included the occupancy guarantee in its Request For Proposal (“RFP”) in order to guarantee its access to the beds. Additionally, the contract provides the state of Arizona an option to purchase the Red Rock facility at any time during the term of the contract, including extension options, based on an amortization schedule starting with the fair market value and decreasing evenly to zero over the twenty-year term. In order to prepare the Red Rock facility to house Arizona inmates under this contract, CCA capitalized $20.8 million of facility improvements during 2013 and 2014. The total net book value of the facility is being depreciated over the twenty-year term.

In September 2014, CCA announced that it had agreed under an expansion of an existing IGSA between the City of Eloy, Arizona and ICE to house up to 2,400 individuals at the South Texas Family Residential Center, a facility leased by CCA in Dilley, Texas. Certain new services provided under the amended IGSA commenced in the fourth quarter of 2014, have a term of up to four years, and can be extended by bi-lateral modifications. The agreement provides for a fixed monthly payment in accordance with a graduated schedule. Under terms of the amended IGSA, ICE can terminate the agreement for convenience, without penalty, by providing CCA with at least a 90-day notice. In addition, terms allow for ICE to terminate the agreement with CCA at any time, without penalty, due to a non-appropriation of funds. ICE began housing the first residents at the facility in December 2014, and the site is expected to be ready for full capacity during the second quarter of 2015.

Under the fixed monthly payment schedule of the amended IGSA, ICE agreed to pay CCA $70.0 million in two $35.0 million installments during the fourth quarter of 2014 and graduated fixed monthly payments over the remaining months of the contract. As described in Note 2, CCA used the multiple-element arrangement guidance prescribed in ASC 605, “Revenue Recognition” in determining the total revenue to be recognized over the term of the amended IGSA. CCA determined that there were five distinct elements related to the amended IGSA with ICE. The lease revenue element, representing the operating lease of the site and constructed assets, was valued based on the estimated selling price of the land and building improvements provided to ICE and is recognized proportionately based on the number of beds available. The correctional services revenue element, representing the correctional management services provided to ICE, was valued based on the estimated selling price of similar services CCA provides and is recognized based on labor efforts expended over the contract. The food services revenue element was valued based on the TPE of the contracted outsourced service and is recognized proportionately based on the number of beds available. The educational services revenue element, representing the grade-level appropriate juvenile educational program prescribed under the IGSA, was based on the TPE of the contracted outsourced service and is recognized on a straight-line basis over the period educational services are required to be performed. The construction management services revenue element, representing CCA’s site development and construction management services, was valued based on the estimated selling price of similar services CCA provides and is recognized on a straight-line basis during the first seven months of the IGSA representing the period over which the construction activity will be ongoing. During 2014, CCA recognized $21.0 million in revenue associated with the amended IGSA with the unrecognized balance of the fixed monthly payments reported in deferred revenue, which is reflected within other liabilities, in the accompanying consolidated balance sheet as of December 31, 2014.

Other Leasing Transactions

In October 2013, CCA entered into a lease for its California City Correctional Center with the CDCR. The lease agreement includes a three-year base term that commenced December 1, 2013, with unlimited two-year renewal options upon mutual agreement. Annual base rent during the three-year base term is fixed at $28.5 million. After the three-year base term, the rent will be increased annually by the lesser of CPI (Consumer Price Index) or 2%. CCA is responsible for repairs and maintenance, property taxes and property insurance, while all other aspects and costs of facility operations are the responsibility of the CDCR. CCA also provided $10.0 million of tenant allowances and improvements which is being amortized as a reduction to rental revenue over the expected lease term.

During December 2013, CCA elected to terminate the lease from the City of Gainesville, Georgia, of the land and building at the North Georgia Detention Center and make replacement beds available at the Stewart Detention Center in Lumpkin, Georgia for the ICE detainees housed at the North Georgia facility. CCA reported an asset impairment of $3.8 million in the fourth quarter of 2013 primarily for renovations CCA made to the North Georgia facility, as well as $1.0 million of expenses associated with the lease termination. All of the detainees were transferred out of the facility and control of the facility was returned to the City of Gainesville near the end of the first quarter of 2014.

INVESTMENT IN AFFILIATE

12 Months Ended

Dec. 31, 2014

INVESTMENT IN AFFILIATE

6.	INVESTMENT IN AFFILIATE

CCA has a 50% ownership interest in APM, an entity holding the management contract for a correctional facility, HM Prison Forest Bank, under a 25-year prison management contract with an agency of the United Kingdom government. CCA has determined that its joint venture investment in APM represents a variable interest entity (“VIE”) in accordance with ASC 810, “Consolidation” of which CCA is not the primary beneficiary. The Forest Bank facility, located in Salford, England, was previously constructed and owned by a wholly-owned subsidiary of CCA, which was sold in April 2001. All gains and losses under the joint venture are accounted for using the equity method of accounting. During 2000, CCA extended a working capital loan to APM, which has an outstanding balance of $3.7 million as of December 31, 2014.

For the years ended December 31, 2014, 2013, and 2012, equity in earnings of the joint venture was $720,000, $78,000 and $323,000, respectively, which is included in other (income) expense in the consolidated statements of operations. As of December 31, 2014, CCA’s investment in APM was $0.1 million and is reported in other assets in the accompanying consolidated balance sheets. The outstanding working capital loan of $3.7 million, combined with the $0.1 million investment in APM, represents CCA’s maximum exposure to loss in connection with APM.

INVESTMENT IN DIRECT FINANCING LEASE

The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.

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INVESTMENT IN DIRECT FINANCING LEASE

12 Months Ended

Dec. 31, 2014

7.	INVESTMENT IN DIRECT FINANCING LEASE

At December 31, 2014, CCA’s investment in a direct financing lease represents net receivables under a building and equipment lease between CCA and the District of Columbia for the D.C. Correctional Treatment Facility.

A schedule of minimum rentals to be received under the direct financing lease in future years is as follows (in thousands):


2015	$	2,793
2016		2,793
2017		694
2018		—
2019		—

Total minimum obligation		6,280
Less unearned interest income		(807	)
Less current portion of direct financing lease		(2,250	)

Investment in direct financing lease	$	3,223

During the years ended December 31, 2014, 2013, and 2012, CCA recorded interest income of $0.8 million, $1.0 million, and $1.2 million, respectively, under this direct financing lease.

OTHER ASSETS

12 Months Ended

Dec. 31, 2014

OTHER ASSETS

8.	OTHER ASSETS

Other assets consist of the following (in thousands):


	December 31,
	2014		2013
Debt issuance costs, less accumulated amortization of $5,413 and $2,311, respectively	$	14,305	$	17,336
Intangible lease value		24,289		25,567
Deferred leasing costs		8,338		9,305
Notes receivable, net		8,285		6,987
Cash equivalents and cash surrender value of life insurance held in Rabbi trust		17,918		15,811
Deposits		1,982		2,037
Straight-line rent receivable		1,729		133
Other		1,240		652

	$	78,086	$	77,828

ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LONG-TERM LIABILITIES

12 Months Ended

Dec. 31, 2014

ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LONG-TERM LIABILITIES

9.	ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LONG-TERM LIABILITIES

Accounts payable and accrued expenses consist of the following (in thousands):


	December 31,
	2014		2013
Trade accounts payable	$	49,825	$	49,826
Accrued salaries and wages		58,173		58,810
Accrued dividends		61,129		56,306
Accrued workers’ compensation and auto liability		7,727		8,409
Accrued litigation		4,323		6,170
Accrued employee medical insurance		8,530		9,658
Accrued property taxes		24,522		24,721
Accrued interest		6,435		6,331
Deferred revenue		5,725		375
Construction payable		64,995		8,374
Other		26,182		23,297

	$	317,566	$	252,277

The total liability for workers’ compensation and auto liability was $23.5 million and $24.1 million as of December 31, 2014 and 2013, respectively, with the long-term portion included in other long-term liabilities in the accompanying consolidated balance sheets. These liabilities were discounted to the net present value of the outstanding liabilities using a 3.0% rate in 2014 and 2013. These liabilities amounted to $26.4 million and $27.1 million on an undiscounted basis as of December 31, 2014 and 2013, respectively.

Other long-term liabilities consist of the following (in thousands):


	December 31,
	2014		2013
Deferred revenue	$	87,227	$	1,070
Intangible lease liability		7,352		7,739
Accrued workers’ compensation		15,732		15,707
Accrued deferred compensation		13,036		15,013
Other		3,356		5,983

	$	126,703	$	45,512

DEBT

12 Months Ended

Dec. 31, 2014

DEBT

10.

DEBT

Debt outstanding consists of the following (in thousands):


	December 31,
	2014		2013
Revolving Credit Facility, principal due at maturity in December 2017; interest payable periodically at variable interest rates. The weighted average rate at December 31, 2014 and 2013 was 1.9% and 1.7%, respectively.	$	525,000	$	530,000
4.625% Senior Notes, principal due at maturity in May 2023; interest payable semi-annually in May and November at 4.625%.		350,000		350,000
4.125% Senior Notes, principal due at maturity in April 2020; interest payable semi-annually in April and October at 4.125%.		325,000		325,000

	$	1,200,000	$	1,205,000

Revolving Credit Facility. During March 2013, CCA entered into an amended and restated $900.0 million senior secured revolving credit facility (the “$900.0 Million Revolving Credit Facility”). In addition to replacing the previous $785.0 million revolving credit facility, the amendment extended the maturity by one year to December 2017, and provided covenant flexibility to operate as a REIT. CCA capitalized $2.7 million of costs associated with the amendment.

The $900.0 Million Revolving Credit Facility has an aggregate principal capacity of $900.0 million and has an “accordion” feature that provides for uncommitted incremental extensions of credit in the form of increases in the revolving commitments or incremental term loans in an aggregate principal amount up to an additional $100.0 million as requested by CCA, subject to bank approval. At CCA’s option, interest on outstanding borrowings under the $900.0 Million Revolving Credit Facility is based on either a base rate plus a margin ranging from 0.25% to 1.0% or a London Interbank Offered Rate (“LIBOR”) plus a margin ranging from 1.25% to 2.0% based on CCA’s leverage ratio. The $900.0 Million Revolving Credit Facility includes a $30.0 million sublimit for swing line loans that enables CCA to borrow at the base rate from the Administrative Agent without advance notice.

Based on CCA’s current leverage ratio, loans under the $900.0 Million Revolving Credit Facility currently bear interest at the base rate plus a margin of 0.75% or at LIBOR plus a margin of 1.75%, and a commitment fee equal to 0.35% of the unfunded balance. The $900.0 Million Revolving Credit Facility also has a $50.0 million sublimit for the issuance of standby letters of credit. As of December 31, 2014, CCA had $525.0 million in borrowings under the $900.0 Million Revolving Credit Facility as well as $16.3 million in letters of credit outstanding resulting in $358.7 million available under the $900.0 Million Revolving Credit Facility.

The $900.0 Million 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 $900.0 Million 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 fixed charge coverage ratio. As of December 31, 2014, CCA was in compliance with all such covenants. In addition, the $900.0 Million Revolving Credit Facility contains certain covenants that, among other things, limit the incurrence of additional indebtedness, acquisitions and other investments, payment of dividends and other customary restricted payments, transactions with affiliates, asset sales, mergers and consolidations, liquidations, prepayments and modifications of other indebtedness, liens and other encumbrances and other matters customarily restricted in such agreements. In addition, the $900.0 Million Revolving Credit Facility is subject to certain cross-default provisions with terms of CCA’s other indebtedness, and is subject to acceleration upon the occurrence of a change of control.

Senior Notes. Interest on the $325.0 million aggregate principal amount of CCA’s 4.125% senior notes issued in April 2013 (the “4.125% Senior Notes”) accrues at the stated rate and is payable in April and October of each year. The 4.125% Senior Notes are scheduled to mature on April 1, 2020. Interest on the $350.0 million aggregate principal amount of CCA’s 4.625% senior notes issued in April 2013 (the “4.625% Senior Notes”) accrues at the stated rate and is payable in May and November of each year. The 4.625% Senior Notes are scheduled to mature on May 1, 2023. The 4.125% Senior Notes and the 4.625% Senior Notes, collectively referred to herein as the “Senior Notes”, are senior unsecured obligations of the Company and are guaranteed by all of the Company’s subsidiaries that guarantee the $900.0 Million Revolving Credit Facility. CCA may redeem all or part of the Senior Notes at any time prior to three months before their respective maturity date at a “make-whole” redemption price, plus accrued and unpaid interest thereon to, but not including, the redemption date. Thereafter, the Senior Notes are redeemable at CCA’s option, in whole or in part, at a redemption price equal to 100% of the aggregate principal amount of the notes to be redeemed plus accrued and unpaid interest thereon to, but not including, the redemption date.

Guarantees and Covenants. All of the domestic subsidiaries of CCA (as the parent corporation) have provided full and unconditional guarantees of the Senior Notes. Each of CCA’s subsidiaries guaranteeing the Senior Notes are 100% owned subsidiaries of CCA; the subsidiary guarantees are full and unconditional and are joint and several obligations of the guarantors; and all non-guarantor subsidiaries are minor (as defined in Rule 3-10(h)(6) of Regulation S-X).

As of December 31, 2014, neither CCA nor any of its subsidiary guarantors had any material or significant restrictions on CCA’s ability to obtain funds from its subsidiaries by dividend or loan or to transfer assets from such subsidiaries.

The indentures governing the Senior Notes contain certain customary covenants that, subject to certain exceptions and qualifications, restrict CCA’s ability to, among other things, make restricted payments; incur additional debt or issue certain types of preferred stock; create or permit to exist certain liens; consolidate, merge or transfer all or substantially all of CCA’s assets; and enter into transactions with affiliates. In addition, if CCA sells certain assets (and generally does not use the proceeds of such sales for certain specified purposes) or experiences specific kinds of changes in control, CCA must offer to repurchase all or a portion of the Senior Notes. The offer price for the Senior Notes in connection with an asset sale would be equal to 100% of the aggregate principal amount of the notes repurchased plus accrued and unpaid interest and liquidated damages, if any, on the notes repurchased to the date of purchase. The offer price for the Senior Notes in connection with a change in control would be 101% of the aggregate principal amount of the notes repurchased plus accrued and unpaid interest and liquidated damages, if any, on the notes repurchased to the date of purchase. The Senior Notes are also subject to certain cross-default provisions with the terms of CCA’s $900.0 Million Revolving Credit Facility, as more fully described hereafter.

Other Debt Transactions

Letters of Credit. At December 31, 2014 and 2013, CCA had $16.3 million and $25.0 million, respectively, in outstanding letters of credit. The letters of credit were issued to secure CCA’s workers’ compensation and general liability insurance policies, performance bonds, and utility deposits. The letters of credit outstanding at December 31, 2014 and 2013 were provided by a sub-facility under the $900.0 Million Revolving Credit Facility.

Debt Maturities

Scheduled principal payments as of December 31, 2014 for the next five years and thereafter were as follows (in thousands):


2015	$	—
2016		—
2017		525,000
2018		—
2019		—
Thereafter		675,000

Total debt	$	1,200,000

Cross-Default Provisions

The provisions of CCA’s debt agreements relating to the $900.0 Million Revolving Credit Facility and the Senior Notes contain certain cross-default provisions. Any events of default under the $900.0 Million Revolving Credit Facility that results in the lenders’ actual acceleration of amounts outstanding thereunder also result in an event of default under the Senior Notes. Additionally, any events of default under the Senior Notes that give rise to the ability of the holders of such indebtedness to exercise their acceleration rights also result in an event of default under the $900.0 Million Revolving Credit Facility.

If CCA were to be in default under the $900.0 Million Revolving Credit Facility, and if the lenders under the $900.0 Million Revolving Credit Facility elected to exercise their rights to accelerate CCA’s obligations under the $900.0 Million Revolving Credit Facility, such events could result in the acceleration of all or a portion of CCA’s Senior Notes, which would have a material adverse effect on CCA’s liquidity and financial position. CCA does not have sufficient working capital to satisfy its debt obligations in the event of an acceleration of all or a substantial portion of CCA’s outstanding indebtedness.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References+ Details

INCOME TAXES

12 Months Ended

Dec. 31, 2014

INCOME TAXES

11.

INCOME TAXES

As discussed in Note 1, the Company began operating in compliance with REIT requirements for federal income tax purposes effective January 1, 2013. As a REIT, the Company must distribute at least 90 percent of its taxable income (including dividends paid to it by its TRSs) and will not pay federal income taxes on the amount distributed to its shareholders. Therefore, the Company should not be subject to federal income taxes if it distributes 100 percent of its taxable income. In addition, the Company must meet a number of other organizational and operational requirements. It is management’s intention to adhere to these requirements and maintain the Company’s REIT status. Most states where CCA holds investments in real estate conform to the federal rules recognizing REITs. Certain subsidiaries have made an election with the Company to be treated as TRSs in conjunction with the Company’s REIT election; the TRS elections permit CCA to engage in certain business activities in which the REIT may not engage directly. A TRS is subject to federal and state income taxes on the income from these activities and therefore, CCA includes a provision for taxes in its consolidated financial statements.

Income tax expense (benefit) is comprised of the following components (in thousands):


	For the Years Ended December 31,
	2014			2013			2012
Current income tax expense (benefit)
Federal	$	9,326		$	13,674		$	75,867
State		828			2,368			5,885

		10,154			16,042			81,752

Deferred income tax expense (benefit)
Federal		(2,280	)		(144,771	)		8,576
State		(931	)		(6,266	)		(2,815	)

		(3,211	)		(151,037	)		5,761

Income tax expense (benefit)	$	6,943		$	(134,995	)	$	87,513

Significant components of CCA’s deferred tax assets and liabilities as of December 31, 2014 and 2013, are as follows (in thousands):


	December 31,
	2014			2013
Current deferred tax assets:
Asset reserves and liabilities not yet deductible for tax	$	15,969		$	11,284

Net current deferred tax assets		15,969			11,284

Current deferred tax liabilities:
Other		(2,740	)		(2,043	)

Net total current deferred tax assets	$	13,229		$	9,241

Noncurrent deferred tax assets:
Asset reserves and liabilities not yet deductible for tax	$	15,665		$	17,372
Tax over book basis of certain assets		924			897
Net operating loss and tax credit carryforwards		5,008			4,575
Intangible contract value		2,877			3,024
Other		579			705

Total noncurrent deferred tax assets		25,053			26,573
Less valuation allowance		(4,065	)		(4,497	)

Net noncurrent deferred tax assets		20,988			22,076

Noncurrent deferred tax liabilities:
Book over tax basis of certain assets		(9,028	)		(9,067	)
Intangible lease value		(9,431	)		(9,894	)
Other		(228	)		(37	)

Total noncurrent deferred tax liabilities		(18,687	)		(18,998	)

Net total noncurrent deferred tax assets	$	2,301		$	3,078

The tax benefits associated with equity-based compensation reduced income taxes payable by $0.7 million, $0.4 million, and $2.6 million during 2014, 2013, and 2012, respectively. Such benefits were recorded as increases to stockholders’ equity.

A reconciliation of the income tax provision at the statutory income tax rate and the effective tax rate as a percentage of income from continuing operations before income taxes for the years ended December 31, 2014, 2013, and 2012 is as follows:


	2014			2013			2012
Statutory federal rate		35.0	%		35.0	%		35.0	%
Dividends paid deduction		(31.1	)		(30.7	)		—
State taxes, net of federal tax benefit		0.8			1.1			1.0
Permanent differences		0.1			3.0			0.7
Impact of REIT election		—			(87.0	)		—
Other items, net		(1.4	)		(1.0	)		(0.9	)

		3.4	%		(79.6	)%		35.8	%

CCA’s effective tax rate was 3.4%, (79.6)%, and 35.8% during 2014, 2013, and 2012, respectively. CCA’s effective tax rate is significantly different in 2014 and 2013 as a result of its election to be taxed as a REIT effective January 1, 2013. As a result of CCA’s election to be taxed as a REIT effective January 1, 2013, CCA recorded during the first quarter of 2013 a net tax benefit of $137.7 million for the revaluation of certain deferred tax assets and liabilities and other income taxes associated with the REIT conversion based on the revised tax structure. As a REIT, CCA is entitled to a deduction for dividends paid, resulting in a substantial reduction in the amount of federal income tax expense it recognizes. Substantially all of CCA’s income tax expense is incurred based on the earnings generated by its TRSs. CCA’s overall effective tax rate is estimated based on its current projection of taxable income primarily generated in its TRSs. The Company’s consolidated effective tax rate could fluctuate in the future based on changes in estimates of taxable income, the relative amounts of taxable income generated by the TRSs and the REIT, the implementation of additional tax planning strategies, changes in federal or state tax rates or laws affecting tax credits available to the Company, 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 the Company’s deferred tax assets that are based primarily on the amount of state net operating losses and tax credits that could expire unused.

CCA had no liabilities for uncertain tax positions as of December 31, 2014 and 2013. CCA recognizes interest and penalties related to unrecognized tax positions in income tax expense. CCA does not currently anticipate that the total amount of unrecognized tax positions will significantly change in the next twelve months.

CCA’s U.S. federal income tax returns for tax years 2011 through 2013 remain subject to examination by the Internal Revenue Service (“IRS”). All states in which CCA files income tax returns follow the same statute of limitations as federal, with the exception of the following states whose open tax years include 2010 through 2013: Arizona, California, Colorado, Kentucky, Michigan, Minnesota, New Jersey, Texas, and Wisconsin.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References+ Details

DISCONTINUED OPERATIONS

12 Months Ended

Dec. 31, 2014

DISCONTINUED OPERATIONS

12.

DISCONTINUED OPERATIONS

In April 2014, the FASB issued ASU 2014-08, “Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity”, which changed the criteria for reporting a discontinued operation. Specifically, ASU 2014-08 changed the current definition of “discontinued operations” so that only disposals of components that represent a strategic shift that has (or will have) a major effect on an entity’s operations and financial results qualify for discontinued operations reporting. ASU 2014-08 also expanded the disclosure requirements for discontinued operations and requires new disclosures related to a disposal of an individually significant component of an entity that does not qualify for discontinued operations reporting. ASU 2014-08 is effective for interim and annual periods beginning after December 15, 2014, requires prospective application, and permits early adoption beginning in the first quarter of 2014.

CCA elected to early adopt ASU 2014-08 in the first quarter of 2014. Accordingly, under the guidelines of the new ASU 2014-08, the operations of the Bay Correctional Facility, Graceville Correctional Facility, and the Moore Haven Correctional Facility in Florida were not reported as discontinued operations upon expiration of the contracts effective January 31, 2014. In addition, the operation of the Idaho Correctional Center was not reported as a discontinued operation upon expiration of the contract effective July 1, 2014, as CCA concluded that the four facilities do not meet the new definition of a discontinued operation and that they were not individually significant components of an entity. However, operations of terminated contracts that previously qualified as discontinued operations before January 1, 2014 will continue to be reported as such in the respective prior periods.

In November 2011, CCA announced its joint decision with the state of Mississippi to cease operations at the state-owned 1,172-bed Delta Correctional Facility in Greenwood, Mississippi. In December 2011, CCA began the process of transferring the population of approximately 900 inmates from the facility, which was completed in January 2012.

During the second quarter of 2013, CCA announced that the Texas Department of Criminal Justice elected not to renew its contract for the 2,216-bed managed-only Dawson State Jail in Dallas, Texas due to a legislative budget reduction. As a result, upon expiration of the contract in August 2013, CCA ceased operations of the Dawson State Jail. During the second quarter of 2013, CCA also received notification that it was not selected for the continued management of the 1,000-bed managed-only Wilkinson County Correctional Facility in Woodville, Mississippi at the end of the contract on June 30, 2013.

There were no results of operations during 2014 at these three facilities. The following table summarizes the results of operations for these three facilities for the years ended December 31, 2013 and 2012 (in thousands):


	For the Years Ended December 31,
	2013			2012
REVENUE:
Managed-only	$	19,984		$	36,421

		19,984			36,421

EXPENSES:
Managed-only		22,529			35,994
Depreciation and amortization		799			870
Asset impairments		2,637			—

		25,965			36,864

OPERATING LOSS		(5,981	)		(443	)
Other (expense) income		(17	)		96

LOSS BEFORE INCOME TAXES		(5,998	)		(347	)
Income tax benefit		2,241			142

LOSS FROM DISCONTINUED OPERATIONS, NET OF TAXES	$	(3,757	)	$	(205	)

There were no assets and $0.1 million of accounts payable and accrued expenses associated with discontinued operations as of December 31, 2014. There were $15,000 of current assets and $0.9 million of accounts payable and accrued expenses associated with discontinued operations as of December 31, 2013.

The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations).

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+ Details

STOCKHOLDERS' EQUITY

12 Months Ended

Dec. 31, 2014

STOCKHOLDERS' EQUITY

13.

STOCKHOLDERS’ EQUITY

Dividends on Common Stock

The tax characterization of dividends per share on common shares as reported to shareholders was as follows for the years ended December 31, 2014, 2013, and 2012:


Declaration Date	Record Date	Payable Date	Ordinary Income			Return of Capital			Total Per Share
May 11, 2012	June 8, 2012	June 22, 2012		0.20	⁽¹⁾		—		$0.20
August 20, 2012	September 14, 2012	September 28, 2012		0.20	⁽¹⁾		—		$0.20
November 6, 2012	November 30, 2012	December 14, 2012		0.20	⁽¹⁾		—		$0.20
February 22, 2013	April 3, 2013	April 15, 2013		0.346119			0.183881		$0.53
May 16, 2013	July 3, 2013	July 15, 2013		0.313466			0.166534		$0.48
August 16, 2013	October 2, 2013	October 15, 2013		0.313466			0.166534		$0.48
December 12, 2013	January 2, 2014	January 15, 2014		0.48	⁽²⁾		—		$0.48
February 20, 2014	April 2, 2014	April 15, 2014		0.51	⁽³⁾		—		$0.51
May 15, 2014	July 2, 2014	July 15, 2014		0.51	⁽³⁾		—		$0.51
August 14, 2014	October 2, 2014	October 15, 2014		0.51	⁽³⁾		—		$0.51
December 11, 2014	January 2, 2015	January 15, 2015		—	⁽⁴⁾		—	⁽⁴⁾	$0.51

⁽¹⁾

The amount constitutes a “Qualified Dividend”, as defined by the IRS.

⁽²⁾

$0.072069 of this amount constitutes a “Qualified Dividend”, as defined by the IRS.

⁽³⁾

$0.076573 of this amount constitutes a “Qualified Dividend”, as defined by the IRS.

⁽⁴⁾

Taxable in 2015.

In addition, on April 8, 2013, CCA’s Board of Directors declared a special dividend to shareholders of $675.0 million, or approximately $6.66 per share of common stock, in connection with CCA’s previously announced plan to qualify and convert to a REIT for federal income tax purposes effective as of January 1, 2013. The special dividend was paid in satisfaction of requirements that CCA distribute its accumulated earnings and profits attributable to tax periods ending prior to January 1, 2013. CCA paid the special dividend on May 20, 2013 to shareholders of record as of April 19, 2013. The special dividend constituted a qualified dividend of which $6.647357 was taxable as ordinary income to shareholders in 2013, and $0.012643 constituted a return of capital.

Each CCA shareholder could elect to receive payment of the special dividend either in all cash, all shares of CCA common stock or a combination of cash and CCA common stock, with the total amount of cash payable to shareholders limited to a maximum of 20% of the total value of the special dividend, or $135.0 million. The total amount of cash elected by shareholders exceeded 20% of the total value of the special dividend. As a result, the cash payment was prorated among those shareholders who elected to receive cash, and the remaining portion of the special dividend was paid in shares of CCA common stock. The total number of shares of CCA common stock distributed pursuant to the special dividend was 13.9 million and was determined based on shareholder elections and the average closing price per share of CCA common stock on the New York Stock Exchange for the three trading days after May 9, 2013, or $38.90 per share.

Future dividends will depend on CCA’s distribution requirements as a REIT, future earnings, capital requirements, financial condition, opportunities for alternative uses of capital, and on such other factors as the Board of Directors of CCA may consider relevant.

Common Stock

Restricted shares. During 2014, CCA issued approximately 548,000 shares of restricted common stock units (“RSUs”) to certain of CCA’s employees and non-employee directors, with an aggregate value of $17.8 million, including 478,000 RSUs to employees and non-employee directors whose compensation is charged to general and administrative expense and 70,000 RSUs to employees whose compensation is charged to operating expense. During 2013, CCA issued approximately 423,000 shares of restricted common stock and RSUs to certain of its employees and non-employee directors, with an aggregate value of $15.6 million, including 378,000 restricted shares or RSUs to employees and non-employee directors whose compensation is charged to general and administrative expense and 45,000 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 RSUs awarded to its officers and executive officers in 2014 and in years prior to 2013. Unless earlier vested under the terms of the agreements, shares or RSUs issued to officers and executive officers in these years 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 RSUs may vest in the first performance period; however, the performance criteria are cumulative for the three-year period. With respect to the RSUs issued in 2013 to officers and executive officers, unless earlier vested under the terms of the RSU agreement, the RSUs issued vest evenly over a three-year period and are not subject to performance-based criteria. Unless earlier vested under the terms of the agreements, shares of restricted stock and RSUs issued to other employees “cliff” vest on the third anniversary of the award, while RSUs issued to non-employee directors vest approximately one year from the date of award.

Nonvested restricted common stock transactions as of December 31, 2014 and for the year then ended are summarized below (in thousands, except per share amounts).


	Shares of restricted common stock and RSUs			Weighted average grant date fair value
Nonvested at December 31, 2013		812		$	32.81
Granted		548		$	32.40
Cancelled		(31	)	$	32.31
Vested		(309	)	$	31.73

Nonvested at December 31, 2014		1,020		$	32.93

During 2014, 2013, and 2012, CCA expensed $12.1 million ($1.4 million of which was recorded in operating expenses and $10.7 million of which was recorded in general and administrative expenses), $9.8 million ($1.2 million of which was recorded in operating expenses and $8.6 million of which was recorded in general and administrative expenses), and $7.6 million ($1.2 million of which was recorded in operating expenses and $6.4 million of which was recorded in general and administrative expenses), net of forfeitures, relating to the restricted common stock and RSUs, respectively. As of December 31, 2014, CCA had $16.6 million of total unrecognized compensation cost related to restricted common stock and RSUs that is expected to be recognized over a remaining weighted-average period of 1.8 years. The total fair value of restricted common stock and RSUs that vested during 2014, 2013, and 2012 was $9.8 million, $10.5 million, and $5.4 million, respectively.

Preferred Stock

CCA has the authority to issue 50.0 million shares of $0.01 par value per share preferred stock (the “Preferred Stock”). The Preferred Stock may be issued from time to time upon authorization by the Board of Directors, in such series and with such preferences, conversion or other rights, voting powers, restrictions, limitations as to dividends, qualifications or other provisions as may be fixed by CCA’s Board of Directors.

Stock Option Plans

CCA has equity incentive plans under which, among other things, incentive and non-qualified stock options are granted to certain employees and non-employee directors of CCA by the compensation committee of CCA’s Board of Directors. The options are granted with exercise prices equal to the fair market value on the date of grant. Vesting periods for options granted to employees generally range from three to four years. Options granted to non-employee directors vest on a date approximately following the first anniversary of the grant date. The term of such options is ten years from the date of grant.

In 2014 and 2013, CCA elected not to issue stock options to its non-employee directors, officers, and executive officers as it had in the past and instead elected to issue all of its equity compensation in the form of restricted common stock and RSUs as previously described herein. During 2014, 2013, and 2012, CCA expensed $1.9 million, $3.1 million, and $4.7 million, respectively, net of estimated forfeitures relating to its outstanding stock options, all of which was charged to general and administrative expenses.

Stock option transactions relating to CCA’s non-qualified stock option plans are summarized below (in thousands, except exercise prices):

No. of
options

Weighted-
Average
Exercise Price
of options

Weighted-
Average
Remaining
Contractual
Term

Aggregate
Intrinsic
Value

Outstanding at December 31, 2013

2,602

19.31

Granted

—

Exercised

(712

)

17.47

Cancelled

)

22.34

Outstanding at December 31, 2014

1,884

20.00

5.0

30,792

Exercisable at December 31, 2014

1,602

19.58

4.6

26,841

The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the difference between CCA’s stock price as of December 31, 2014 and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options on December 31, 2014. This amount changes based on the fair market value of CCA’s stock. The total intrinsic value of options exercised during the years ended December 31, 2014, 2013, and 2012 was $12.3 million, $36.9 million, and $5.5 million, respectively.

The weighted average fair value of options granted during 2012 was $7.50 per option based on the estimated fair value using the Black-Scholes option-pricing model. The fair value of the 2012 option grant was estimated on the date of the grant using the Black-Scholes option-pricing model with the following weighted average assumptions:


	2012
Expected dividend yield		3.0	%
Expected stock price volatility		42.2	%
Risk-free interest rate		1.0	%
Expected life of options		5 years

CCA estimates expected stock price volatility based on actual historical changes in the market value of CCA’s stock. The risk-free interest rate is based on the U.S. Treasury yield with a term that is consistent with the expected life of the stock options. The expected life of stock options is based on CCA’s historical experience and is calculated separately for groups of employees that have similar historical exercise behavior.

Nonvested stock option transactions relating to CCA’s non-qualified stock option plans as of December 31, 2014 and changes during the year ended December 31, 2014 are summarized below (in thousands, except grant date fair values):


	Number of options			Weighted average grant date fair value
Nonvested at December 31, 2013		679		$	6.88
Granted		—		$	—
Cancelled		—		$	—
Vested		(397	)	$	7.04

Nonvested at December 31, 2014		282		$	6.66

As of December 31, 2014, CCA had $0.8 million of total unrecognized compensation cost related to stock options that is expected to be recognized over a remaining weighted-average period of 0.9 years.

At CCA’s 2011 annual meeting of stockholders held in May 2011, CCA’s stockholders approved an amendment to the 2008 Stock Incentive Plan that increased the authorized limit on issuance of new awards to an aggregate of up to 18.0 million shares. In addition, during the 2003 annual meeting the stockholders approved the adoption of CCA’s Non-Employee Directors’ Compensation Plan, authorizing CCA to issue up to 225,000 shares of common stock pursuant to the plan. As of December 31, 2014, CCA had 11.2 million shares available for issuance under the Amended and Restated 2008 Stock Incentive Plan and 0.2 million shares available for issuance under the Non-Employee Directors’ Compensation Plan.

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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-Number Topic 4

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+ Details

EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2014

EARNINGS PER SHARE

14.

EARNINGS PER SHARE

Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the year. 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 share grants 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 Years Ended December 31,
	2014		2013			2012
NUMERATOR
Basic:
Income from continuing operations	$	195,022	$	304,592		$	156,966
Loss from discontinued operations, net of taxes		—		(3,757	)		(205	)

Net income	$	195,022	$	300,835		$	156,761

Diluted:
Income from continuing operations	$	195,022	$	304,592		$	156,966
Loss from discontinued operations, net of taxes		—		(3,757	)		(205	)

Diluted net income	$	195,022	$	300,835		$	156,761

DENOMINATOR
Basic:
Weighted average common shares outstanding		116,109		109,617			99,545

Diluted:
Weighted average common shares outstanding		116,109		109,617			99,545
Effect of dilutive securities:
Stock options		895		1,279			864
Restricted stock-based compensation		308		354			214

Weighted average shares and assumed conversions		117,312		111,250			100,623

BASIC EARNINGS PER SHARE:
Income from continuing operations	$	1.68	$	2.77		$	1.58
Loss from discontinued operations, net of taxes		—		(0.03	)		—

Net income	$	1.68	$	2.74		$	1.58

DILUTED EARNINGS PER SHARE:
Income from continuing operations	$	1.66	$	2.73		$	1.56
Loss from discontinued operations, net of taxes		—		(0.03	)		—

Net income	$	1.66	$	2.70		$	1.56

As discussed in Note 13, on May 20, 2013, CCA paid a special dividend in connection with its conversion to a REIT. The shareholders were allowed to elect to receive their payment of the special dividend either in all cash, all shares of CCA common stock, or a combination of cash and CCA common stock, except that CCA placed a limit on the aggregate amount of cash payable to the shareholders. Under ASC 505, “Equity” and ASU 2010-01, “Accounting for Distributions to Shareholders with Components of Stock and Cash, a consensus of the FASB Emerging Issues Task Force”, a distribution that allows shareholders to elect to receive cash or stock with a potential limitation on the total amount of cash that all shareholders can elect to receive in the aggregate is considered a share issuance that is reflected in earnings per share prospectively. As such, the stock portion of the special dividend, totaling 13.9 million shares, is presented prospectively in basic and diluted earnings per share as presented above and was not presented retroactively for all periods presented.

Approximately 12,000, 15,000, and 0.7 million stock options were excluded from the computations of diluted earnings per share for the years ended December 31, 2014, 2013, and 2012, respectively, because they were anti-dilutive.

COMMITMENTS AND CONTINGENCIES

The entire disclosure for earnings per share.

+ References+ Details

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2014

15.

COMMITMENTS AND CONTINGENCIES

Legal Proceedings

General. 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, offenders or others. The nature of such claims includes, but is not limited to, claims arising from employee or offender misconduct, medical malpractice, employment matters, property loss, contractual claims, including claims regarding compliance with contract performance requirements, and personal injury or other damages resulting from contact with CCA’s facilities, personnel or offenders, including damages arising from an offender’s escape or from a disturbance at a facility. In February 2014, CCA reached an agreement to pay $1.0 million in compensation to the state of Idaho regarding contractual disputes related to staffing at the Idaho Correctional Center. In addition, CCA was notified that an investigation by the FBI was being undertaken and CCA received additional inquiries from other government partners concerning matters related to the Idaho Correctional Center. 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 resulting from legal proceedings or from the investigation or inquiries described above, 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.

Insurance Contingencies

Each of CCA’s management contracts and the statutes of certain states require the maintenance of insurance. CCA maintains various insurance policies including employee health, workers’ compensation, automobile liability, and general liability insurance. These policies are fixed premium policies with various deductible amounts that are self-funded by CCA. Reserves are provided for estimated incurred claims for which it is probable that a loss has been incurred and the range of such loss can be estimated.

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 $18.6 million at December 31, 2014 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 December 31, 2014, the outstanding principal balance of the bonds exceeded the purchase price option by $7.3 million.

Retirement Plan

All employees of CCA are eligible to participate in the Corrections Corporation of America 401(k) Savings and Retirement Plan (the “Plan”) upon reaching age 18 and completing one year of qualified service. Eligible employees may contribute up to 90% of their eligible compensation, subject to IRS limitations. For the years ended December 31, 2014, 2013, and 2012, CCA provided a discretionary matching contribution equal to 100% of the employee’s contributions up to 5% of the employee’s eligible compensation to employees with at least one thousand hours of employment in the plan year. Prior to January 1, 2012, employer contributions were made to those who were employed by CCA on the last day of the plan year, and investment earnings or losses thereon become vested 20% after two years of service, 40% after three years of service, 80% after four years of service, and 100% after five or more years of service. Effective January 1, 2012, the Plan adopted a safe harbor provision that provides, among other changes, future employer matching contributions to be paid into the Plan each pay period and vest immediately.

During the years ended December 31, 2014, 2013, and 2012, CCA’s discretionary contributions to the Plan, net of forfeitures, were $11.1 million, $11.8 million, and $11.1 million, respectively.

Deferred Compensation Plans

During 2002, the compensation committee of the board of directors approved CCA’s adoption of two non-qualified deferred compensation plans (the “Deferred Compensation Plans”) for non-employee directors and for certain senior executives. The Deferred Compensation Plans are unfunded plans maintained for the purpose of providing CCA’s directors and certain of its senior executives the opportunity to defer a portion of their compensation. Under the terms of the Deferred Compensation Plans, certain senior executives may elect to contribute on a pre-tax basis up to 50% of their base salary and up to 100% of their cash bonus, and non-employee directors may elect to contribute on a pre-tax basis up to 100% of their director retainer and meeting fees. During the years ended December 31, 2014, 2013, and 2012, CCA matched 100% of employee contributions up to 5% of total cash compensation. CCA also contributes a fixed rate of return on balances in the Deferred Compensation Plans, determined at the beginning of each plan year. Vesting provisions for matching contributions and investment earnings thereon conform to the vesting provisions of CCA’s 401(k) Plan. However, CCA did not change the vesting provisions to conform with the 401(k) Plan effective January 1, 2012. Distributions are generally payable no earlier than five years subsequent to the date an individual becomes a participant in the Plan, or upon termination of employment (or the date a director ceases to serve as a director of CCA), at the election of the participant. Distributions to senior executives must commence on or before the later of 60 days after the participant’s separation from service or the fifteenth day of the month following the month the individual attains age 65.

During 2014, 2013, and 2012, CCA provided a fixed return of 5.6%, 5.6%, and 5.9% to participants in the Deferred Compensation Plans, respectively. CCA has purchased life insurance policies on the lives of certain employees of CCA, which are intended to fund distributions from the Deferred Compensation Plans. CCA is the sole beneficiary of such policies. At the inception of the Deferred Compensation Plans, CCA established an irrevocable Rabbi Trust to secure the plans’ obligations. However, assets in the Deferred Compensation Plans are subject to creditor claims in the event of bankruptcy. During 2014, 2013, and 2012, CCA recorded $0.2 million, $0.2 million, and $0.5 million, respectively, of matching contributions as general and administrative expense associated with the Deferred Compensation Plans. Assets in the Rabbi Trust were $17.9 million and $15.8 million as of December 31, 2014 and 2013, respectively. As of December 31, 2014 and 2013, CCA’s liability related to the Deferred Compensation Plans was $15.7 million and $16.4 million, respectively, which was reflected in accounts payable and accrued expenses and other liabilities in the accompanying balance sheets.

Employment and Severance Agreements

CCA currently has employment agreements with several of its executive officers, which provide for the payment of certain severance amounts upon termination of employment under certain circumstances or a change of control, as defined in the agreements.

The entire disclosure for commitments and contingencies.

+ References+ Details

SEGMENT REPORTING

12 Months Ended

Dec. 31, 2014

SEGMENT REPORTING

16.

SEGMENT REPORTING

As of December 31, 2014, CCA owned and managed 49 correctional and detention facilities, and managed 12 correctional and detention facilities it did not own. In addition, CCA owned three facilities that it leased to third-party operators. Management views CCA’s operating results in one operating segment. However, the Company has chosen to report financial performance segregated for (1) owned and managed correctional and detention facilities and (2) managed-only correctional and detention facilities as the Company believes this information is useful to users of the financial statements. Owned and managed facilities include the operating results of those facilities placed into service that were owned or controlled via a long-term lease and managed by CCA. Managed-only facilities include the operating results of those facilities owned by a third party and managed by CCA. The operating performance of the owned and managed and the managed-only correctional and detention facilities can be measured based on their net operating income. CCA defines facility net operating income as a facility’s operating income or loss from operations before interest, taxes, asset impairments, depreciation, and amortization.

The revenue and net operating income for the owned and managed and the managed-only facilities and a reconciliation to CCA’s operating income is as follows for the three years ended December 31, 2014, 2013, and 2012 (in thousands):


	For the Years Ended December 31,
	2014			2013			2012
Revenue:
Owned and managed	$	1,379,986		$	1,386,355		$	1,418,783
Managed-only		232,685			301,454			299,599

Total management revenue		1,612,671			1,687,809			1,718,382

Operating expenses:
Owned and managed		928,857			941,638			935,680
Managed-only		207,355			261,903			263,678

Total operating expenses		1,136,212			1,203,541			1,199,358

Facility net operating income
Owned and managed		451,129			444,717			483,103
Managed-only		25,330			39,551			35,921

Total facility net operating income		476,459			484,268			519,024

Other revenue (expense):
Rental and other revenue		34,196			6,488			5,275
Other operating expense		(19,923	)		(16,810	)		(17,693	)
General and administrative expense		(106,429	)		(103,590	)		(88,935	)
Depreciation and amortization		(113,925	)		(112,692	)		(113,063	)
Asset impairments		(30,082	)		(6,513	)		—

Operating income	$	240,296		$	251,151		$	304,608

The following table summarizes capital expenditures for the years ended December 31, 2014, 2013, and 2012 (in thousands):


	For the Years Ended December 31,
	2014		2013		2012
Capital expenditures:
Owned and managed	$	246,333	$	96,975	$	55,222
Managed-only		3,171		3,719		3,507
Corporate and other		13,056		10,852		17,685
Discontinued operations		—		72		532

Total capital expenditures	$	262,560	$	111,618	$	76,946

The total assets are as follows (in thousands):


	December 31,
	2014		2013
Assets:
Owned and managed	$	2,745,905	$	2,715,719
Managed-only		68,146		81,551
Corporate and other		313,140		210,140
Discontinued operations		—		15

Total assets	$	3,127,191	$	3,007,425

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF CCA AND SUBSIDIARIES

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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-Name Accounting Standards Codification

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+ Details

SUBSEQUENT EVENTS

12 Months Ended

Dec. 31, 2014

SUBSEQUENT EVENTS

17.

SUBSEQUENT EVENTS

During February 2015, CCA issued approximately 0.4 million RSUs to certain of CCA’s employees and non-employee directors, with an aggregate value of $16.9 million. Unless earlier vested under the terms of the RSU agreement, approximately 0.3 million RSUs were issued to officers and executive officers and are subject to vesting over a three-year period based upon satisfaction of certain annual performance criteria for the fiscal years ending December 31, 2015, 2016, and 2017. Approximately 0.1 million RSUs issued to other employees “cliff” vest on the third anniversary of the award. Shares of RSUs issued to non-employee directors vest on the first anniversary of the award. Any RSUs that become vested will be settled in shares of CCA’s common stock.

On February 20, 2015, the Company’s Board of Directors declared a quarterly dividend of $0.54 per common share payable April 15, 2015 to shareholders of record on April 2, 2015.

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF CCA AND SUBSIDIARIES

12 Months Ended

Dec. 31, 2014

18.

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF CCA AND SUBSIDIARIES

The following condensed consolidating financial statements of CCA and subsidiaries have been prepared pursuant to Rule 3-10 of Regulation S-X. These condensed consolidating financial statements have been prepared from the Company’s financial information on the same basis of accounting as the consolidated financial statements.

CONDENSED CONSOLIDATING BALANCE SHEET

As of December 31, 2014

(in thousands)

ASSETS

Parent

Combined
Subsidiary
Guarantors

Consolidating
Adjustments
and Other

Total
Consolidated
Amounts

Cash and cash equivalents

12,337

62,056

—

74,393

Accounts receivable, net of allowance

167,626

178,911

(97,949

)

248,588

Current deferred tax assets

—

13,241

(12

)

13,229

Prepaid expenses and other current assets

17,060

34,705

(21,990

)

29,775

Total current assets

197,023

288,913

(119,951

)

365,985

Property and equipment, net

2,459,053

199,575

—

2,658,628

Restricted cash

1,267

1,591

—

2,858

Investment in direct financing lease

3,223

—

3,223

Goodwill

—

16,110

—

16,110

Non-current deferred tax assets

—

2,778

(477

)

2,301

Other assets

241,690

47,046

(210,650

)

78,086

Total assets

2,902,256

556,013

(331,078

)

3,127,191

LIABILITIES AND STOCKHOLDERS’ EQUITY

Accounts payable and accrued expenses

218,403

205,213

(106,050

)

317,566

Income taxes payable

195

1,173

—

1,368

Current deferred tax liabilities

—

(13

)

—

Note payable to an affiliate

—

13,854

(13,854

)

—

Current liabilities of discontinued operations

—

Total current liabilities

218,611

220,294

(119,917

)

318,988

Long-term debt

1,200,000

115,000

(115,000

)

1,200,000

Non-current deferred tax liabilities

477

—

(477

)

—

Other liabilities

1,668

125,035

—

126,703

Total liabilities

1,420,756

460,329

(235,394

)

1,645,691

Total stockholders’ equity

1,481,500

95,684

(95,684

)

1,481,500

Total liabilities and stockholders’ equity

2,902,256

556,013

(331,078

)

3,127,191

CONDENSED CONSOLIDATING BALANCE SHEET

As of December 31, 2013

(in thousands)


ASSETS	Parent		Combined Subsidiary Guarantors		Consolidating Adjustments and Other			Total Consolidated Amounts
Cash and cash equivalents	$	31,647	$	46,262	$	—		$	77,909
Accounts receivable, net of allowance		203,018		178,894		(136,955	)		244,957
Current deferred tax assets		2		9,239		—			9,241
Prepaid expenses and other current assets		7,580		22,856		(9,824	)		20,612
Current assets of discontinued operations		—		15		—			15

Total current assets		242,247		257,266		(146,779	)		352,734
Property and equipment, net		2,450,028		96,585		—			2,546,613

Restricted cash		1,016		4,573		—			5,589
Investment in direct financing lease		5,473		—		—			5,473
Goodwill		—		16,110		—			16,110
Non-current deferred tax assets		—		3,633		(555	)		3,078
Other assets		245,028		45,149		(212,349	)		77,828

Total assets	$	2,943,792	$	423,316	$	(359,683	)	$	3,007,425

LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable and accrued expenses	$	234,277	$	164,745	$	(146,745	)	$	252,277
Income taxes payable		—		1,243		—			1,243
Current liabilities of discontinued operations		—		886		—			886

Total current liabilities		234,277		166,874		(146,745	)		254,406

Long-term debt		1,205,000		115,000		(115,000	)		1,205,000
Non-current deferred tax liabilities		555		—		(555	)		—
Other liabilities		1,453		44,059		—			45,512

Total liabilities		1,441,285		325,933		(262,300	)		1,504,918

Total stockholders’ equity		1,502,507		97,383		(97,383	)		1,502,507

Total liabilities and stockholders’ equity	$	2,943,792	$	423,316	$	(359,683	)	$	3,007,425

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

For the year ended December 31, 2014

(in thousands)

Parent

Combined
Subsidiary
Guarantors

Consolidating
Adjustments
and Other

Total
Consolidated
Amounts

REVENUES

1,250,199

1,268,654

(871,986

)

1,646,867

EXPENSES:

Operating

896,470

1,131,651

(871,986

)

1,156,135

General and administrative

33,508

72,921

—

106,429

Depreciation and amortization

80,820

33,105

—

113,925

Asset impairments

29,915

167

—

30,082

1,040,713

1,237,844

(871,986

)

1,406,571

OPERATING INCOME

209,486

30,810

—

240,296

OTHER (INCOME) EXPENSE:

Interest expense, net

35,138

4,397

—

39,535

Other (income) expense

302

(786

)

(720

)

(1,204

)

35,440

3,611

(720

)

38,331

INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES

174,046

27,199

720

201,965

Income tax expense

(552

)

(6,391

)

—

(6,943

)

INCOME FROM CONTINUING OPERATIONS

173,494

20,808

720

195,022

Income from equity in subsidiaries

21,528

—

(21,528

)

—

NET INCOME

195,022

20,808

(20,808

)

195,022

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

For the year ended December 31, 2013

(in thousands)


	Parent			Combined Subsidiary Guarantors			Consolidating Adjustments and Other			Total Consolidated Amounts
REVENUES	$	1,268,763		$	1,351,695		$	(926,161	)	$	1,694,297

EXPENSES:
Operating		945,750			1,200,762			(926,161	)		1,220,351
General and administrative		31,290			72,300			—			103,590
Depreciation and amortization		76,112			36,580			—			112,692
Asset impairments		—			6,513			—			6,513

		1,053,152			1,316,155			(926,161	)		1,443,146

OPERATING INCOME		215,611			35,540			—			251,151

OTHER (INCOME) EXPENSE:
Interest expense, net		38,319			6,807			—			45,126
Expenses associated with debt refinancing transactions		28,563			7,965			—			36,528
Other (income) expense		(45	)		23			(78	)		(100	)

		66,837			14,795			(78	)		81,554

INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		148,774			20,745			78			169,597
Income tax benefit (expense)		143,590			(8,595	)		—			134,995

INCOME FROM CONTINUING OPERATIONS		292,364			12,150			78			304,592
Income from equity in subsidiaries		8,471			—			(8,471	)		—
Loss from discontinued operations, net of taxes		—			(3,757	)		—			(3,757	)

NET INCOME	$	300,835		$	8,393		$	(8,393	)	$	300,835

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

For the year ended December 31, 2012

(in thousands)


	Parent			Combined Subsidiary Guarantors			Consolidating Adjustments and Other			Total Consolidated Amounts
REVENUES	$	1,411,277		$	329,971		$	(17,591	)	$	1,723,657

EXPENSES:
Operating		943,803			290,839			(17,591	)		1,217,051
General and administrative		70,792			18,143			—			88,935
Depreciation and amortization		74,452			38,611			—			113,063

		1,089,047			347,593			(17,591	)		1,419,049

OPERATING INCOME (LOSS)		322,230			(17,622	)		—			304,608

OTHER (INCOME) EXPENSE:
Interest expense, net		57,174			1,189			—			58,363
Expenses associated with debt refinancing transactions		2,099			—			—			2,099
Other (income) expense		16			(26	)		(323	)		(333	)

		59,289			1,163			(323	)		60,129

INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		262,941			(18,785	)		323			244,479
Income tax benefit (expense)		(93,870	)		6,357			—			(87,513	)

INCOME (LOSS) FROM CONTINUING OPERATIONS		169,071			(12,428	)		323			156,966
Loss from equity in subsidiaries		(12,310	)		—			12,310			—
Loss from discontinued operations, net of taxes		—			(205	)		—			(205	)

NET INCOME (LOSS)	$	156,761		$	(12,633	)	$	12,633		$	156,761

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the year ended December 31, 2014

(in thousands)

Parent

Combined
Subsidiary
Guarantors

Consolidating
Adjustments
And Other

Total
Consolidated
Amounts

Net cash provided by operating activities

296,087

127,494

—

423,581

Net cash used in investing activities

(73,404

)

(102,337

)

(21,146

)

(196,887

)

Net cash used in financing activities

(241,993

)

(9,373

)

21,146

(230,220

)

Net (decrease) increase in cash and cash equivalents

(19,310

)

15,784

—

(3,526

)

CASH AND CASH EQUIVALENTS, beginning of year

31,647

46,272

—

77,919

CASH AND CASH EQUIVALENTS, end of year

12,337

62,056

—

74,393

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the year ended December 31, 2013

(in thousands)


	Parent			Combined Subsidiary Guarantors			Consolidating Adjustments And Other			Total Consolidated Amounts
Net cash provided by operating activities	$	211,247		$	158,257		$	—		$	369,504
Net cash used in investing activities		(83,895	)		(56,617	)		15,000			(125,512	)
Net cash used in financing activities		(95,705	)		(118,265	)		(15,000	)		(228,970	)

Net increase (decrease) in cash and cash equivalents		31,647			(16,625	)		—			15,022
CASH AND CASH EQUIVALENTS, beginning of year		—			62,897			—			62,897

CASH AND CASH EQUIVALENTS, end of year	$	31,647		$	46,272		$	—		$	77,919

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the year ended December 31, 2012

(in thousands)


	Parent			Combined Subsidiary Guarantors			Consolidating Adjustments And Other		Total Consolidated Amounts
Net cash provided by operating activities	$	260,602		$	22,654		$	—	$	283,256
Net cash used in investing activities		(42,378	)		(37,542	)		—		(79,920	)
Net cash used in financing activities		(218,224	)		21,953			—		(196,271	)

Net increase in cash and cash equivalents		—			7,065			—		7,065
CASH AND CASH EQUIVALENTS, beginning of year		—			55,832			—		55,832

CASH AND CASH EQUIVALENTS, end of year	$	—		$	62,897		$	—	$	62,897

SELECTED QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

12 Months Ended

Dec. 31, 2014

SELECTED QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

19.

SELECTED QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

Selected quarterly financial information for each of the quarters in the years ended December 31, 2014 and 2013 is as follows (in thousands, except per share data):


	March 31, 2014			June 30, 2014			September 30, 2014			December 31, 2014
Revenue	$	404,222		$	410,694		$	408,474		$	423,477
Operating income		63,066			65,535			69,850			41,845	⁽¹⁾
Net income		51,738			55,732			57,546			30,006	⁽¹⁾

Basic earnings per share:
Net income	$	0.45		$	0.48		$	0.50		$	0.26	⁽¹⁾

Diluted earnings per share:
Net income	$	0.44		$	0.48		$	0.49		$	0.25	⁽¹⁾

	March 31, 2013			June 30, 2013			September 30, 2013			December 31, 2013
Revenue	$	416,723		$	425,005		$	421,466		$	431,103
Operating income		59,892			67,969			67,271			56,019
Loss from discontinued operations, net of taxes		(355	)		(2,739	)		(663	)		—
Net income		181,092	⁽²⁾		20,429	⁽³⁾		51,843			47,471

Basic earnings per share:
Net income	$	1.81	⁽²⁾	$	0.19	⁽³⁾	$	0.45		$	0.41

Diluted earnings per share:
Net income	$	1.78	⁽²⁾	$	0.19	⁽³⁾	$	0.44		$	0.41

⁽¹⁾	The earnings amounts in the fourth quarter of 2014 were unfavorably impacted by $27.8 million of non-cash impairments recorded to write down the book values of two of CCA’s non-core facilities to the estimated fair values, as discussed in Note 5.

⁽²⁾	The earnings amounts in the first quarter of 2013 were favorably impacted by the net tax benefit resulting from the revaluation of certain deferred tax assets and liabilities associated with the REIT conversion effective January 1, 2013.

⁽³⁾	The earnings amounts in the second quarter of 2013 were negatively impacted by $36.3 million of expenses associated with debt refinancing transactions.

SCHEDULE III REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

+ References+ Details

SCHEDULE III REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION

12 Months Ended

Dec. 31, 2014

CORRECTIONS CORPORATION OF AMERICA AND SUBSIDIARIES

SCHEDULE III – REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION

DECEMBER 31, 2014

(in thousands)


Description	Location	Initial Cost to Company				Cost Capitalized Subsequent to Acquisition		Gross Amount at Which Carried at Close of Period							Accumulated Depreciation (A)			Date Constructed/ Acquired
Description	Location	Land		Buildings and Improvements		Cost Capitalized Subsequent to Acquisition		Land and Land Improvements		Buildings and Leasehold Improvements		Total			Accumulated Depreciation (A)			Date Constructed/ Acquired
Adams County Correctional Center	Adams County, Mississippi	$	874	$	119,565	$	2,783	$	1,075	$	122,147	$	123,222		$	(15,038	)		2008
Bent County Correctional Facility	Las Animas, Colorado		550		13,115		66,495		1,212		78,948		80,160			(18,267	)		1992
Bridgeport Pre-Parole Transfer Facility	Bridgeport, Texas		70		291		588		209		740		949			(473	)		1995
CAI – Boston Avenue	San Diego, California		800		11,440		25		830		11,435		12,265			(548	)		2013
California City Correctional Center	California City, California		1,785		125,337		4,357		2,484		128,995		131,479			(39,548	)		1999
Central Arizona Detention Center	Florence, Arizona		1,298		57,857		30,571		2,767		86,959		89,726			(28,569	)		1994
Cibola County Corrections Center	Milan, New Mexico		444		16,215		29,130		1,319		44,470		45,789			(14,953	)		1994
Cimarron Correctional Facility	Cushing, Oklahoma		250		71,303		42,349		570		113,332		113,902			(28,887	)		1997
Coffee Correctional Facility	Nicholls, Georgia		194		28,361		44,911		853		72,613		73,466			(17,302	)		1998
Crossroads Correctional Center	Shelby, Montana		413		33,196		6,700		867		39,442		40,309			(27,785	)		1999
Crowley County Correctional Facility	Olney Springs, Colorado		211		46,845		27,133		1,890		72,299		74,189			(17,856	)		2003
Davis Correctional Facility	Holdenville, Oklahoma		250		66,701		40,096		872		106,175		107,047			(27,380	)		1996
D.C. Correctional Treatment Facility	Washington, D.C.		—		—		5,998		71		5,927		5,998			(3,777	)		1997
Diamondback Correctional Facility	Watonga, Oklahoma		208		41,677		22,544		567		63,862		64,429			(19,949	)		1998
Eden Detention Facility	Eden, Texas		925		27,645		33,050		5,279		56,341		61,620			(17,707	)		1995
Eloy Detention Center	Eloy, Arizona		498		33,308		14,047		1,851		46,002		47,853			(14,703	)		1995
Florence County Detention Center	Florence, Arizona		—		75,674		9,022		719		83,977		84,696			(25,169	)		1999
Houston Processing Center	Houston, Texas		2,250		53,373		36,625		3,143		89,105		92,248			(26,921	)		1984
Huerfano County Correctional Center	Walsenburg, Colorado		124		26,358		4,095		984		29,593		30,577			(11,544	)		1997
Jenkins County Correctional Center	Millen, Georgia		208		48,158		37		237		48,166		48,403			(2,738	)		2012
Kit Carson Correctional Center	Burlington, Colorado		432		35,980		42,563		863		78,112		78,975			(17,602	)		1998
Lake Erie Correctional Institution	Conneaut, Ohio		2,871		69,779		2,166		3,669		71,147		74,816			(4,370	)		2011
La Palma Correctional Center	Eloy, Arizona		283		183,155		11,974		470		194,942		195,412			(26,757	)		2008
Laredo Processing Center	Laredo, Texas		788		26,737		1,968		929		28,564		29,493			(9,647	)		1985
Leavenworth U.S.M. Detention Center	Leavenworth, Kansas		130		44,970		42,167		464		86,803		87,267			(23,115	)		1992
Lee Adjustment Center	Beattyville, Kentucky		500		515		16,087		1,214		15,888		17,102			(5,736	)		1998
Leo Chesney Correctional Center	Live Oak, California		250		4,774		1,577		250		6,351		6,601			(2,418	)		1989
Marion Adjustment Center	St. Mary, Kentucky		250		9,994		8,277		915		17,606		18,521			(5,543	)		1998
McRae County Georgia Prison	McRae, Georgia		462		60,396		17,295		954		77,199		78,153			(15,956	)		2000
Mineral Wells Pre-Parole Transfer Facility	Mineral Wells, Texas		176		22,589		4,877		100		—		100	(B)		—			1995
Nevada Southern Detention Center	Pahrump, Nevada		7,548		64,362		9,238		8,330		72,818		81,148			(7,485	)		2010
New Mexico Women’s Correctional Facility	Grants, New Mexico		142		15,888		13,770		807		28,993		29,800			(10,638	)		1989
North Fork Correctional Facility	Sayre, Oklahoma		—		42,166		58,453		291		100,328		100,619			(24,076	)		1998
Northeast Ohio Correctional Center	Youngstown, Ohio		750		39,583		7,803		1,675		46,461		48,136			(15,613	)		1997
Otter Creek Adjustment Center	Wheelwright, Kentucky		500		24,487		11,319		1,447		34,859		36,306			(12,217	)		1998
Prairie Correctional Facility	Appleton, Minnesota		100		22,306		8,307		1,065		29,648		30,713			(11,966	)		1991
Queensgate Correctional Facility	Cincinnati, Ohio		750		15,221		1,586		340		498		838	(B)		—			1998
Red Rock Correctional Center	Eloy, Arizona		10		78,456		20,106		255		98,317		98,572			(16,447	)		2006
Saguaro Correctional Center	Eloy, Arizona		193		98,903		316		385		99,027		99,412			(15,174	)		2007
San Diego Correctional Facility	San Diego, California		28,845		92,458		10,325		37,148		94,480		131,628			(89,758	)		1999
Shelby Training Center	Memphis, Tennessee		150		6,393		3,076		275		9,344		9,619			(9,263	)		1986
Stewart Detention Center	Lumpkin, Georgia		143		70,560		9,192		716		79,179		79,895			(15,177	)		2004
Tallahatchie County Correctional Facility	Tutwiler, Mississippi		—		44,638		94,046		1,536		137,148		138,684			(34,949	)		2000
T. Don Hutto Correctional Center	Taylor, Texas		183		13,418		4,018		591		17,028		17,619			(6,118	)		1997
Torrance County Detention Facility	Estancia, New Mexico		511		52,599		7,392		1,704		58,798		60,502			(19,667	)		1990
Webb County Detention Center	Laredo, Texas		498		20,160		5,792		2,101		24,349		26,450			(8,570	)		1998
West Tennessee Detention Facility	Mason, Tennessee		538		31,931		5,605		2,008		36,066		38,074			(13,405	)		1990
Wheeler Correctional Facility	Alamo, Georgia		117		30,781		41,426		423		71,901		72,324			(17,155	)		1998
Whiteville Correctional Facility	Whiteville, Tennessee		303		51,694		3,991		1,571		54,417		55,988			(18,044	)		1998

Totals		$	58,775	$	2,171,312	$	885,268	$	100,295	$	2,970,799	$	3,071,094		$	(815,980	)

NOTES TO SCHEDULE III—REAL ESTATE AND ACCUMULATED DEPRECIATION

(A)	Depreciation is calculated using estimated useful lives of depreciable assets up to 50 years for prison facilities.

(B)	CCA recorded non-cash impairments during the fourth quarter of 2014 to write down the book values of the Queensgate and Mineral Wells facilities to the estimated fair values assuming asset sales for uses other than correctional facilities.

CORRECTIONS CORPORATION OF AMERICA AND SUBSIDIARIES

SCHEDULE III – REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION

FOR THE YEARS ENDED DECEMBER 31, 2014, 2013, AND 2012

(in thousands)


	For the Years Ended December 31,
	2014			2013			2012
Investment in Real Estate:
Balance at beginning of period	$	3,078,902		$	3,049,672		$	2,972,528
Additions through capital expenditures		45,929			30,376			77,233
Sale of real estate for cash		(4,368	)		(554	)		(81	)
Asset impairments		(49,247	)		—			—
Reclassifications and other		(122	)		(592	)		(8	)

Balance at end of period	$	3,071,094		$	3,078,902		$	3,049,672

Accumulated Depreciation:
Balance at beginning of period	$	(755,761	)	$	(680,965	)	$	(607,771	)
Depreciation		(79,745	)		(75,069	)		(73,260	)
Disposals		118			273			66
Asset impairments		19,408			—			—

Balance at end of period	$	(815,980	)	$	(755,761	)	$	(680,965	)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2014

Basis of Presentation

Basis of Presentation

Cash and Cash Equivalents

Cash and Cash Equivalents

CCA considers all liquid debt instruments with a maturity of three months or less at the time of purchase to be cash equivalents.

Restricted Cash

Restricted Cash

Accounts Receivable and Allowance for Doubtful Accounts

Accounts Receivable and Allowance for Doubtful Accounts

Property and Equipment

Property and Equipment


Land improvements			5 – 20 years
Buildings and improvements			5 – 50 years
Equipment and software			3 – 5 years
Office furniture and fixtures			5 years

Accounting for the Impairment of Long-Lived Assets Other Than Goodwill

Accounting for the Impairment of Long-Lived Assets Other Than Goodwill

Goodwill

Goodwill

Goodwill represents the cost in excess of the net assets of businesses acquired. As further discussed in Note 3, goodwill is tested for impairment at least annually using a fair-value based approach.

Investment in Direct Financing Lease

Investment in Direct Financing Lease

Investment in Affiliates

Investment in Affiliates

Debt Issuance Costs

Debt Issuance Costs

Revenue Recognition

Revenue Recognition

Self-Funded Insurance Reserves

Self-Funded Insurance Reserves

Income Taxes

Income Taxes

Foreign Currency Transactions

Foreign Currency Transactions

Fair Value of Financial Instruments

Fair Value of Financial Instruments


	December 31,
	2014						2013
	Carrying Amount			Fair Value			Carrying Amount			Fair Value
Investment in direct financing lease	$	5,473		$	6,048		$	7,466		$	8,609
Note receivable from APM	$	3,677		$	6,539		$	4,831		$	9,006
Debt	$	(1,200,000	)	$	(1,179,625	)	$	(1,205,000	)	$	(1,179,375	)

Use of Estimates in Preparation of Financial Statements

Use of Estimates in Preparation of Financial Statements

Concentration of Credit Risks

Concentration of Credit Risks

Accounting for Stock-Based Compensation

Accounting for Stock-Based Compensation

Restricted Stock

Stock Options

Recent Accounting Pronouncements

Recent Accounting Pronouncements

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of Useful Life of Property and Equipment

Useful lives for property and equipment are as follows:


Land improvements			5 – 20 years
Buildings and improvements			5 – 50 years
Equipment and software			3 – 5 years
Office furniture and fixtures			5 years

Schedule of Financial Instruments Having Difference Between Carrying Amount and Fair Value

At December 31, 2014 and 2013, there were no material differences between the carrying amounts and the estimated fair values of CCA’s financial instruments, other than as follows (in thousands):


	December 31,
	2014						2013
	Carrying Amount			Fair Value			Carrying Amount			Fair Value
Investment in direct financing lease	$	5,473		$	6,048		$	7,466		$	8,609
Note receivable from APM	$	3,677		$	6,539		$	4,831		$	9,006
Debt	$	(1,200,000	)	$	(1,179,625	)	$	(1,205,000	)	$	(1,179,375	)

PROPERTY AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2014

Property and Equipment

Property and equipment, at cost, consists of the following (in thousands):


	December 31,
	2014			2013
Land and improvements	$	127,221		$	127,246
Buildings and improvements		3,048,836			3,058,748
Equipment and software		326,603			316,696
Office furniture and fixtures		30,884			30,969
Construction in progress		276,508			93,187

		3,810,052			3,626,846
Less: Accumulated depreciation		(1,151,424	)		(1,080,233	)

	$	2,658,628		$	2,546,613

Schedule of Future Minimum Lease Payments

Future minimum lease payments as of December 31, 2014 under these operating leases, inclusive of $287.4 million of payments expected to be made under the cancelable lease at the South Texas facility, are as follows (in thousands):


2015	$	83,427
2016		79,538
2017		73,412
2018		53,733
2019		—
Thereafter		—

REAL ESTATE TRANSACTIONS (Tables)

12 Months Ended

Dec. 31, 2014

Summary of Idled Facilities and Respective Carrying Values

The following table summarizes each of the idled core facilities and their respective carrying values, excluding equipment and other assets that could generally be transferred and used at other facilities CCA owns without significant cost (dollars in thousands):


	Design Capacity		Date Idled		Net Carrying Values at December 31,
Facility	Design Capacity		Date Idled		2014		2013
Prairie Correctional Facility		1,600		2010	$	18,748	$	19,366
Huerfano County Correctional Center		752		2010		19,033		19,800
Diamondback Correctional Facility		2,160		2010		44,480		44,223
Otter Creek Correctional Center		656		2012		24,089		24,805
Marion Adjustment Center		826		2013		12,978		13,429

		5,994			$	119,328	$	121,623

OTHER ASSETS (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of Other Assets

Other assets consist of the following (in thousands):


	December 31,
	2014		2013
Debt issuance costs, less accumulated amortization of $5,413 and $2,311, respectively	$	14,305	$	17,336
Intangible lease value		24,289		25,567
Deferred leasing costs		8,338		9,305
Notes receivable, net		8,285		6,987
Cash equivalents and cash surrender value of life insurance held in Rabbi trust		17,918		15,811
Deposits		1,982		2,037
Straight-line rent receivable		1,729		133
Other		1,240		652

	$	78,086	$	77,828

ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LONG-TERM LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses consist of the following (in thousands):


	December 31,
	2014		2013
Trade accounts payable	$	49,825	$	49,826
Accrued salaries and wages		58,173		58,810
Accrued dividends		61,129		56,306
Accrued workers’ compensation and auto liability		7,727		8,409
Accrued litigation		4,323		6,170
Accrued employee medical insurance		8,530		9,658
Accrued property taxes		24,522		24,721
Accrued interest		6,435		6,331
Deferred revenue		5,725		375
Construction payable		64,995		8,374
Other		26,182		23,297

	$	317,566	$	252,277

Other Long Term Liabilitites

Other long-term liabilities consist of the following (in thousands):


	December 31,
	2014		2013
Deferred revenue	$	87,227	$	1,070
Intangible lease liability		7,352		7,739
Accrued workers’ compensation		15,732		15,707
Accrued deferred compensation		13,036		15,013
Other		3,356		5,983

	$	126,703	$	45,512

DEBT (Tables)

12 Months Ended

Dec. 31, 2014

Schedule Of Debt Outstanding

Debt outstanding consists of the following (in thousands):


	December 31,
	2014		2013
Revolving Credit Facility, principal due at maturity in December 2017; interest payable periodically at variable interest rates. The weighted average rate at December 31, 2014 and 2013 was 1.9% and 1.7%, respectively.	$	525,000	$	530,000
4.625% Senior Notes, principal due at maturity in May 2023; interest payable semi-annually in May and November at 4.625%.		350,000		350,000
4.125% Senior Notes, principal due at maturity in April 2020; interest payable semi-annually in April and October at 4.125%.		325,000		325,000

	$	1,200,000	$	1,205,000

Schedule of Principal Payments

Scheduled principal payments as of December 31, 2014 for the next five years and thereafter were as follows (in thousands):


2015	$	—
2016		—
2017		525,000
2018		—
2019		—
Thereafter		675,000

Total debt	$	1,200,000

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2014

Components Of Income Tax Expense

Income tax expense (benefit) is comprised of the following components (in thousands):


	For the Years Ended December 31,
	2014			2013			2012
Current income tax expense (benefit)
Federal	$	9,326		$	13,674		$	75,867
State		828			2,368			5,885

		10,154			16,042			81,752

Deferred income tax expense (benefit)
Federal		(2,280	)		(144,771	)		8,576
State		(931	)		(6,266	)		(2,815	)

		(3,211	)		(151,037	)		5,761

Income tax expense (benefit)	$	6,943		$	(134,995	)	$	87,513

Components of Deferred Tax Assets and Liabilities

Significant components of CCA’s deferred tax assets and liabilities as of December 31, 2014 and 2013, are as follows (in thousands):


	December 31,
	2014			2013
Current deferred tax assets:
Asset reserves and liabilities not yet deductible for tax	$	15,969		$	11,284

Net current deferred tax assets		15,969			11,284

Current deferred tax liabilities:
Other		(2,740	)		(2,043	)

Net total current deferred tax assets	$	13,229		$	9,241

Noncurrent deferred tax assets:
Asset reserves and liabilities not yet deductible for tax	$	15,665		$	17,372
Tax over book basis of certain assets		924			897
Net operating loss and tax credit carryforwards		5,008			4,575
Intangible contract value		2,877			3,024
Other		579			705

Total noncurrent deferred tax assets		25,053			26,573
Less valuation allowance		(4,065	)		(4,497	)

Net noncurrent deferred tax assets		20,988			22,076

Noncurrent deferred tax liabilities:
Book over tax basis of certain assets		(9,028	)		(9,067	)
Intangible lease value		(9,431	)		(9,894	)
Other		(228	)		(37	)

Total noncurrent deferred tax liabilities		(18,687	)		(18,998	)

Net total noncurrent deferred tax assets	$	2,301		$	3,078

Reconciliation of Income Tax Provision at Statutory Income Tax Rate and Effective Tax Rate


	2014			2013			2012
Statutory federal rate		35.0	%		35.0	%		35.0	%
Dividends paid deduction		(31.1	)		(30.7	)		—
State taxes, net of federal tax benefit		0.8			1.1			1.0
Permanent differences		0.1			3.0			0.7
Impact of REIT election		—			(87.0	)		—
Other items, net		(1.4	)		(1.0	)		(0.9	)

		3.4	%		(79.6	)%		35.8	%

DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Dec. 31, 2014

Summarized Results of Operations for Discontinued Facilities

The following table summarizes the results of operations for these three facilities for the years ended December 31, 2013 and 2012 (in thousands):


	For the Years Ended December 31,
	2013			2012
REVENUE:
Managed-only	$	19,984		$	36,421

		19,984			36,421

EXPENSES:
Managed-only		22,529			35,994
Depreciation and amortization		799			870
Asset impairments		2,637			—

		25,965			36,864

OPERATING LOSS		(5,981	)		(443	)
Other (expense) income		(17	)		96

LOSS BEFORE INCOME TAXES		(5,998	)		(347	)
Income tax benefit		2,241			142

LOSS FROM DISCONTINUED OPERATIONS, NET OF TAXES	$	(3,757	)	$	(205	)

STOCKHOLDERS' EQUITY (Tables)

12 Months Ended

Dec. 31, 2014

Tax Characterization of Dividends per Share on Common Shares

Dividends on Common Stock

The tax characterization of dividends per share on common shares as reported to shareholders was as follows for the years ended December 31, 2014, 2013, and 2012:


Declaration Date	Record Date	Payable Date	Ordinary Income			Return of Capital			Total Per Share
May 11, 2012	June 8, 2012	June 22, 2012		0.20	⁽¹⁾		—		$0.20
August 20, 2012	September 14, 2012	September 28, 2012		0.20	⁽¹⁾		—		$0.20
November 6, 2012	November 30, 2012	December 14, 2012		0.20	⁽¹⁾		—		$0.20
February 22, 2013	April 3, 2013	April 15, 2013		0.346119			0.183881		$0.53
May 16, 2013	July 3, 2013	July 15, 2013		0.313466			0.166534		$0.48
August 16, 2013	October 2, 2013	October 15, 2013		0.313466			0.166534		$0.48
December 12, 2013	January 2, 2014	January 15, 2014		0.48	⁽²⁾		—		$0.48
February 20, 2014	April 2, 2014	April 15, 2014		0.51	⁽³⁾		—		$0.51
May 15, 2014	July 2, 2014	July 15, 2014		0.51	⁽³⁾		—		$0.51
August 14, 2014	October 2, 2014	October 15, 2014		0.51	⁽³⁾		—		$0.51
December 11, 2014	January 2, 2015	January 15, 2015		—	⁽⁴⁾		—	⁽⁴⁾	$0.51

⁽¹⁾

The amount constitutes a “Qualified Dividend”, as defined by the IRS.

⁽²⁾

$0.072069 of this amount constitutes a “Qualified Dividend”, as defined by the IRS.

⁽³⁾

$0.076573 of this amount constitutes a “Qualified Dividend”, as defined by the IRS.

⁽⁴⁾

Taxable in 2015.

Summary of Nonvested Restricted Common Stock Transactions

Nonvested restricted common stock transactions as of December 31, 2014 and for the year then ended are summarized below (in thousands, except per share amounts).


	Shares of restricted common stock and RSUs			Weighted average grant date fair value
Nonvested at December 31, 2013		812		$	32.81
Granted		548		$	32.40
Cancelled		(31	)	$	32.31
Vested		(309	)	$	31.73

Nonvested at December 31, 2014		1,020		$	32.93

Summary of Stock Option Transactions Relating to Non-Qualified Stock Option Plans

Stock option transactions relating to CCA’s non-qualified stock option plans are summarized below (in thousands, except exercise prices):

No. of
options

Weighted-
Average
Exercise Price
of options

Weighted-
Average
Remaining
Contractual
Term

Aggregate
Intrinsic
Value

Outstanding at December 31, 2013

2,602

19.31

Granted

—

Exercised

(712

)

17.47

Cancelled

)

22.34

Outstanding at December 31, 2014

1,884

20.00

5.0

30,792

Exercisable at December 31, 2014

1,602

19.58

4.6

26,841

Schedule of Estimated Fair Value of Option Grant Using Black-Scholes Option Pricing Model

The fair value of the 2012 option grant was estimated on the date of the grant using the Black-Scholes option-pricing model with the following weighted average assumptions:


	2012
Expected dividend yield		3.0	%
Expected stock price volatility		42.2	%
Risk-free interest rate		1.0	%
Expected life of options		5 years

Summary of Nonvested Stock Option Transactions Relating to Non-Qualified Stock Option Plans


	Number of options			Weighted average grant date fair value
Nonvested at December 31, 2013		679		$	6.88
Granted		—		$	—
Cancelled		—		$	—
Vested		(397	)	$	7.04

Nonvested at December 31, 2014		282		$	6.66

EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of Calculation of Numerator and Denominator in Earnings Per Share


	For the Years Ended December 31,
	2014		2013			2012
NUMERATOR
Basic:
Income from continuing operations	$	195,022	$	304,592		$	156,966
Loss from discontinued operations, net of taxes		—		(3,757	)		(205	)

Net income	$	195,022	$	300,835		$	156,761

Diluted:
Income from continuing operations	$	195,022	$	304,592		$	156,966
Loss from discontinued operations, net of taxes		—		(3,757	)		(205	)

Diluted net income	$	195,022	$	300,835		$	156,761

DENOMINATOR
Basic:
Weighted average common shares outstanding		116,109		109,617			99,545

Diluted:
Weighted average common shares outstanding		116,109		109,617			99,545
Effect of dilutive securities:
Stock options		895		1,279			864
Restricted stock-based compensation		308		354			214

Weighted average shares and assumed conversions		117,312		111,250			100,623

BASIC EARNINGS PER SHARE:
Income from continuing operations	$	1.68	$	2.77		$	1.58
Loss from discontinued operations, net of taxes		—		(0.03	)		—

Net income	$	1.68	$	2.74		$	1.58

DILUTED EARNINGS PER SHARE:
Income from continuing operations	$	1.66	$	2.73		$	1.56
Loss from discontinued operations, net of taxes		—		(0.03	)		—

Net income	$	1.66	$	2.70		$	1.56

SEGMENT REPORTING (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of Revenue and Net Operating Income of Owned and Managed and the Managed-Only Facilities and Reconciliation to CCA's Operating Income


	For the Years Ended December 31,
	2014			2013			2012
Revenue:
Owned and managed	$	1,379,986		$	1,386,355		$	1,418,783
Managed-only		232,685			301,454			299,599

Total management revenue		1,612,671			1,687,809			1,718,382

Operating expenses:
Owned and managed		928,857			941,638			935,680
Managed-only		207,355			261,903			263,678

Total operating expenses		1,136,212			1,203,541			1,199,358

Facility net operating income
Owned and managed		451,129			444,717			483,103
Managed-only		25,330			39,551			35,921

Total facility net operating income		476,459			484,268			519,024

Other revenue (expense):
Rental and other revenue		34,196			6,488			5,275
Other operating expense		(19,923	)		(16,810	)		(17,693	)
General and administrative expense		(106,429	)		(103,590	)		(88,935	)
Depreciation and amortization		(113,925	)		(112,692	)		(113,063	)
Asset impairments		(30,082	)		(6,513	)		—

Operating income	$	240,296		$	251,151		$	304,608

Summary of Capital Expenditures

The following table summarizes capital expenditures for the years ended December 31, 2014, 2013, and 2012 (in thousands):


	For the Years Ended December 31,
	2014		2013		2012
Capital expenditures:
Owned and managed	$	246,333	$	96,975	$	55,222
Managed-only		3,171		3,719		3,507
Corporate and other		13,056		10,852		17,685
Discontinued operations		—		72		532

Total capital expenditures	$	262,560	$	111,618	$	76,946

Schedule of Total Assets

The total assets are as follows (in thousands):


	December 31,
	2014		2013
Assets:
Owned and managed	$	2,745,905	$	2,715,719
Managed-only		68,146		81,551
Corporate and other		313,140		210,140
Discontinued operations		—		15

Total assets	$	3,127,191	$	3,007,425

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF CCA AND SUBSIDIARIES (Tables)

12 Months Ended

Dec. 31, 2014

CONDENSED CONSOLIDATING BALANCE SHEET

CONDENSED CONSOLIDATING BALANCE SHEET

As of December 31, 2014

(in thousands)

ASSETS

Parent

Combined
Subsidiary
Guarantors

Consolidating
Adjustments
and Other

Total
Consolidated
Amounts

Cash and cash equivalents

12,337

62,056

—

74,393

Accounts receivable, net of allowance

167,626

178,911

(97,949

)

248,588

Current deferred tax assets

—

13,241

(12

)

13,229

Prepaid expenses and other current assets

17,060

34,705

(21,990

)

29,775

Total current assets

197,023

288,913

(119,951

)

365,985

Property and equipment, net

2,459,053

199,575

—

2,658,628

Restricted cash

1,267

1,591

—

2,858

Investment in direct financing lease

3,223

—

3,223

Goodwill

—

16,110

—

16,110

Non-current deferred tax assets

—

2,778

(477

)

2,301

Other assets

241,690

47,046

(210,650

)

78,086

Total assets

2,902,256

556,013

(331,078

)

3,127,191

LIABILITIES AND STOCKHOLDERS’ EQUITY

Accounts payable and accrued expenses

218,403

205,213

(106,050

)

317,566

Income taxes payable

195

1,173

—

1,368

Current deferred tax liabilities

—

(13

)

—

Note payable to an affiliate

—

13,854

(13,854

)

—

Current liabilities of discontinued operations

—

Total current liabilities

218,611

220,294

(119,917

)

318,988

Long-term debt

1,200,000

115,000

(115,000

)

1,200,000

Non-current deferred tax liabilities

477

—

(477

)

—

Other liabilities

1,668

125,035

—

126,703

Total liabilities

1,420,756

460,329

(235,394

)

1,645,691

Total stockholders’ equity

1,481,500

95,684

(95,684

)

1,481,500

Total liabilities and stockholders’ equity

2,902,256

556,013

(331,078

)

3,127,191

CONDENSED CONSOLIDATING BALANCE SHEET

As of December 31, 2013

(in thousands)


ASSETS	Parent		Combined Subsidiary Guarantors		Consolidating Adjustments and Other			Total Consolidated Amounts
Cash and cash equivalents	$	31,647	$	46,262	$	—		$	77,909
Accounts receivable, net of allowance		203,018		178,894		(136,955	)		244,957
Current deferred tax assets		2		9,239		—			9,241
Prepaid expenses and other current assets		7,580		22,856		(9,824	)		20,612
Current assets of discontinued operations		—		15		—			15

Total current assets		242,247		257,266		(146,779	)		352,734
Property and equipment, net		2,450,028		96,585		—			2,546,613

Restricted cash		1,016		4,573		—			5,589
Investment in direct financing lease		5,473		—		—			5,473
Goodwill		—		16,110		—			16,110
Non-current deferred tax assets		—		3,633		(555	)		3,078
Other assets		245,028		45,149		(212,349	)		77,828

Total assets	$	2,943,792	$	423,316	$	(359,683	)	$	3,007,425

LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable and accrued expenses	$	234,277	$	164,745	$	(146,745	)	$	252,277
Income taxes payable		—		1,243		—			1,243
Current liabilities of discontinued operations		—		886		—			886

Total current liabilities		234,277		166,874		(146,745	)		254,406

Long-term debt		1,205,000		115,000		(115,000	)		1,205,000
Non-current deferred tax liabilities		555		—		(555	)		—
Other liabilities		1,453		44,059		—			45,512

Total liabilities		1,441,285		325,933		(262,300	)		1,504,918

Total stockholders’ equity		1,502,507		97,383		(97,383	)		1,502,507

Total liabilities and stockholders’ equity	$	2,943,792	$	423,316	$	(359,683	)	$	3,007,425

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

For the year ended December 31, 2014

(in thousands)

Parent

Combined
Subsidiary
Guarantors

Consolidating
Adjustments
and Other

Total
Consolidated
Amounts

REVENUES

1,250,199

1,268,654

(871,986

)

1,646,867

EXPENSES:

Operating

896,470

1,131,651

(871,986

)

1,156,135

General and administrative

33,508

72,921

—

106,429

Depreciation and amortization

80,820

33,105

—

113,925

Asset impairments

29,915

167

—

30,082

1,040,713

1,237,844

(871,986

)

1,406,571

OPERATING INCOME

209,486

30,810

—

240,296

OTHER (INCOME) EXPENSE:

Interest expense, net

35,138

4,397

—

39,535

Other (income) expense

302

(786

)

(720

)

(1,204

)

35,440

3,611

(720

)

38,331

INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES

174,046

27,199

720

201,965

Income tax expense

(552

)

(6,391

)

—

(6,943

)

INCOME FROM CONTINUING OPERATIONS

173,494

20,808

720

195,022

Income from equity in subsidiaries

21,528

—

(21,528

)

—

NET INCOME

195,022

20,808

(20,808

)

195,022

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

For the year ended December 31, 2013

(in thousands)


	Parent			Combined Subsidiary Guarantors			Consolidating Adjustments and Other			Total Consolidated Amounts
REVENUES	$	1,268,763		$	1,351,695		$	(926,161	)	$	1,694,297

EXPENSES:
Operating		945,750			1,200,762			(926,161	)		1,220,351
General and administrative		31,290			72,300			—			103,590
Depreciation and amortization		76,112			36,580			—			112,692
Asset impairments		—			6,513			—			6,513

		1,053,152			1,316,155			(926,161	)		1,443,146

OPERATING INCOME		215,611			35,540			—			251,151

OTHER (INCOME) EXPENSE:
Interest expense, net		38,319			6,807			—			45,126
Expenses associated with debt refinancing transactions		28,563			7,965			—			36,528
Other (income) expense		(45	)		23			(78	)		(100	)

		66,837			14,795			(78	)		81,554

INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		148,774			20,745			78			169,597
Income tax benefit (expense)		143,590			(8,595	)		—			134,995

INCOME FROM CONTINUING OPERATIONS		292,364			12,150			78			304,592
Income from equity in subsidiaries		8,471			—			(8,471	)		—
Loss from discontinued operations, net of taxes		—			(3,757	)		—			(3,757	)

NET INCOME	$	300,835		$	8,393		$	(8,393	)	$	300,835

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

For the year ended December 31, 2012

(in thousands)


	Parent			Combined Subsidiary Guarantors			Consolidating Adjustments and Other			Total Consolidated Amounts
REVENUES	$	1,411,277		$	329,971		$	(17,591	)	$	1,723,657

EXPENSES:
Operating		943,803			290,839			(17,591	)		1,217,051
General and administrative		70,792			18,143			—			88,935
Depreciation and amortization		74,452			38,611			—			113,063

		1,089,047			347,593			(17,591	)		1,419,049

OPERATING INCOME (LOSS)		322,230			(17,622	)		—			304,608

OTHER (INCOME) EXPENSE:
Interest expense, net		57,174			1,189			—			58,363
Expenses associated with debt refinancing transactions		2,099			—			—			2,099
Other (income) expense		16			(26	)		(323	)		(333	)

		59,289			1,163			(323	)		60,129

INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		262,941			(18,785	)		323			244,479
Income tax benefit (expense)		(93,870	)		6,357			—			(87,513	)

INCOME (LOSS) FROM CONTINUING OPERATIONS		169,071			(12,428	)		323			156,966
Loss from equity in subsidiaries		(12,310	)		—			12,310			—
Loss from discontinued operations, net of taxes		—			(205	)		—			(205	)

NET INCOME (LOSS)	$	156,761		$	(12,633	)	$	12,633		$	156,761

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the year ended December 31, 2014

(in thousands)

Parent

Combined
Subsidiary
Guarantors

Consolidating
Adjustments
And Other

Total
Consolidated
Amounts

Net cash provided by operating activities

296,087

127,494

—

423,581

Net cash used in investing activities

(73,404

)

(102,337

)

(21,146

)

(196,887

)

Net cash used in financing activities

(241,993

)

(9,373

)

21,146

(230,220

)

Net (decrease) increase in cash and cash equivalents

(19,310

)

15,784

—

(3,526

)

CASH AND CASH EQUIVALENTS, beginning of year

31,647

46,272

—

77,919

CASH AND CASH EQUIVALENTS, end of year

12,337

62,056

—

74,393

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the year ended December 31, 2013

(in thousands)


	Parent			Combined Subsidiary Guarantors			Consolidating Adjustments And Other			Total Consolidated Amounts
Net cash provided by operating activities	$	211,247		$	158,257		$	—		$	369,504
Net cash used in investing activities		(83,895	)		(56,617	)		15,000			(125,512	)
Net cash used in financing activities		(95,705	)		(118,265	)		(15,000	)		(228,970	)

Net increase (decrease) in cash and cash equivalents		31,647			(16,625	)		—			15,022
CASH AND CASH EQUIVALENTS, beginning of year		—			62,897			—			62,897

CASH AND CASH EQUIVALENTS, end of year	$	31,647		$	46,272		$	—		$	77,919

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the year ended December 31, 2012

(in thousands)


	Parent			Combined Subsidiary Guarantors			Consolidating Adjustments And Other		Total Consolidated Amounts
Net cash provided by operating activities	$	260,602		$	22,654		$	—	$	283,256
Net cash used in investing activities		(42,378	)		(37,542	)		—		(79,920	)
Net cash used in financing activities		(218,224	)		21,953			—		(196,271	)

Net increase in cash and cash equivalents		—			7,065			—		7,065
CASH AND CASH EQUIVALENTS, beginning of year		—			55,832			—		55,832

CASH AND CASH EQUIVALENTS, end of year	$	—		$	62,897		$	—	$	62,897

SELECTED QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of Selected Quarterly Financial Information

Selected quarterly financial information for each of the quarters in the years ended December 31, 2014 and 2013 is as follows (in thousands, except per share data):


	March 31, 2014			June 30, 2014			September 30, 2014			December 31, 2014
Revenue	$	404,222		$	410,694		$	408,474		$	423,477
Operating income		63,066			65,535			69,850			41,845	⁽¹⁾
Net income		51,738			55,732			57,546			30,006	⁽¹⁾

Basic earnings per share:
Net income	$	0.45		$	0.48		$	0.50		$	0.26	⁽¹⁾

Diluted earnings per share:
Net income	$	0.44		$	0.48		$	0.49		$	0.25	⁽¹⁾

	March 31, 2013			June 30, 2013			September 30, 2013			December 31, 2013
Revenue	$	416,723		$	425,005		$	421,466		$	431,103
Operating income		59,892			67,969			67,271			56,019
Loss from discontinued operations, net of taxes		(355	)		(2,739	)		(663	)		—
Net income		181,092	⁽²⁾		20,429	⁽³⁾		51,843			47,471

Basic earnings per share:
Net income	$	1.81	⁽²⁾	$	0.19	⁽³⁾	$	0.45		$	0.41

Diluted earnings per share:
Net income	$	1.78	⁽²⁾	$	0.19	⁽³⁾	$	0.44		$	0.41

⁽¹⁾	The earnings amounts in the fourth quarter of 2014 were unfavorably impacted by $27.8 million of non-cash impairments recorded to write down the book values of two of CCA’s non-core facilities to the estimated fair values, as discussed in Note 5.

⁽²⁾	The earnings amounts in the first quarter of 2013 were favorably impacted by the net tax benefit resulting from the revaluation of certain deferred tax assets and liabilities associated with the REIT conversion effective January 1, 2013.

⁽³⁾	The earnings amounts in the second quarter of 2013 were negatively impacted by $36.3 million of expenses associated with debt refinancing transactions.

Organization and Operations - Additional Information (Detail)	Dec. 31, 2014 State Bed Facility
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of facilities owned by government partners, managed	12
Number of facilities owned or controlled by company	52
Number of beds at the facility	84,500
Number of states in which company facilities are located	19

Summary of Significant Accounting Policies - Additional Information (Detail) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Organization And Operations [Line Items]
Restricted cash	$ 2,900,000	$ 5,600,000
Accounts receivable, net of allowances for doubtful accounts	248,588,000	244,957,000
Accounts receivable, allowances for doubtful accounts	$ 748,000	$ 1,265,000
Percentage of ownership required for exercise significant influence in affiliates	50.00%
Percentage of tax position benefit maximum than being realized upon ultimate settlement	50.00%
Government Contracts Concentration Risk \| Sales Revenue, Net \| Federal Correctional And Detention Authorities
Organization And Operations [Line Items]
Percentage of revenues generated from government management contracts	44.00%	44.00%	44.00%
Government Contracts Concentration Risk \| Sales Revenue, Net \| Federal Bureau Of Prisons
Organization And Operations [Line Items]
Percentage of revenues generated from government management contracts	13.00%	13.00%	12.00%
Government Contracts Concentration Risk \| Sales Revenue, Net \| United States Marshals Service
Organization And Operations [Line Items]
Percentage of revenues generated from government management contracts	17.00%	19.00%	20.00%
Government Contracts Concentration Risk \| Sales Revenue, Net \| United States Immigration And Customs Enforcement
Organization And Operations [Line Items]
Percentage of revenues generated from government management contracts	13.00%	12.00%	12.00%
Government Contracts Concentration Risk \| Sales Revenue, Net \| State Correctional Authorities
Organization And Operations [Line Items]
Percentage of revenues generated from government management contracts	48.00%	49.00%	49.00%
Government Contracts Concentration Risk \| Sales Revenue, Net \| State of California Department of Corrections and Rehabilitation
Organization And Operations [Line Items]
Percentage of revenues generated from government management contracts	14.00%	12.00%	12.00%
Minimum
Organization And Operations [Line Items]
Renewal of contract terms	2 years
Maximum
Organization And Operations [Line Items]
Renewal of contract terms	5 years

The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. For a classified balance sheet represents the current portion only (the noncurrent portion has a separate concept); there is a separate and distinct element for unclassified presentations.

+ References+ Details

Schedule of Useful Life of Property and Equipment (Detail)	12 Months Ended
	Dec. 31, 2014
Land Improvements \| Minimum
Property, Plant and Equipment [Line Items]
Average number of useful life in years	5 years
Land Improvements \| Maximum
Property, Plant and Equipment [Line Items]
Average number of useful life in years	20 years
Building and Improvements \| Minimum
Property, Plant and Equipment [Line Items]
Average number of useful life in years	5 years
Building and Improvements \| Maximum
Property, Plant and Equipment [Line Items]
Average number of useful life in years	50 years
Equipment And Software \| Minimum
Property, Plant and Equipment [Line Items]
Average number of useful life in years	3 years
Equipment And Software \| Maximum
Property, Plant and Equipment [Line Items]
Average number of useful life in years	5 years
Office Furniture and Fixtures
Property, Plant and Equipment [Line Items]
Average number of useful life in years	5 years

Schedule of Financial Instruments Having Difference Between Carrying Amount and Fair Value (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Investment in direct financing lease, Carrying Amount	$ 5,473	$ 7,466
Note receivable from APM, Carrying Amount	3,677	4,831
Debt, Carrying Amount	(1,200,000)	(1,205,000)
Investment in direct financing lease, Fair Value	6,048	8,609
Note receivable from APM, Fair Value	6,539	9,006
Debt, Fair Value	$ (1,179,625)	$ (1,179,375)

For an unclassified balance sheet, amounts due from parties associated with the reporting entity as evidenced by a written promise to pay.

+ References+ Details

Goodwill - Additional Information (Detail) (USD $)	3 Months Ended	12 Months Ended		3 Months Ended
Goodwill - Additional Information (Detail) (USD $)	Dec. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Sep. 30, 2013 Idaho Correctional Center	Jun. 30, 2013 Wilkinson County Correctional Facility	Dec. 31, 2013 Bay Correctional Facility in Florida
Goodwill and Intangible Assets Disclosure [Line Items]
Establishment of goodwill		This goodwill was established in connection with the acquisition of Correctional Alternatives Inc. ("CAI") during the third quarter of 2013, as further described in Note 5, and the acquisitions of two service companies during 2000.
Goodwill	$ 16,110,000	$ 16,110,000	$ 16,110,000
Goodwill impairment charges				1,000,000	800,000	1,100,000
Asset impairment charges	27,800,000	30,082,000	6,513,000		2,600,000
Other assets impairment charges					$ 1,800,000

Property and Equipment - Additional Information (Detail) (USD $)	12 Months Ended						12 Months Ended			1 Months Ended			12 Months Ended							1 Months Ended
	Dec. 31, 2014 Facility Building Property Bed	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2009	Dec. 31, 2014 Third Party Lessor	Sep. 30, 2014 Third Party Lessor	Dec. 31, 2014 Third Party Lessor Preexisting Cottages	Dec. 31, 2014 Third Party Lessor Minimum	Dec. 31, 2014 South Texas Family Residential Center	Sep. 30, 2014 South Texas Family Residential Center Minimum	Dec. 31, 2014 South Texas Family Residential Center Maximum Facility	Sep. 30, 2014 South Texas Family Residential Center Maximum Facility	Dec. 31, 2014 Non-appropriation of fund Third Party Lessor	Dec. 31, 2014 Facility one	Dec. 31, 2014 Facility two	Dec. 31, 2014 Elizabeth Detention Center	Dec. 31, 2014 San Diego Correctional Facility	Dec. 31, 2009 Wheeler County Development Authority Y	Dec. 31, 2009 Douglas-Coffee County Industrial Authority Y	Jun. 30, 2013 Development Authority Of Telfair County Y
Number of real estate properties owned	54
Number of correctional and detention facilities	52
Number of real estate properties leased	3
Number of corporate office buildings	2
Number of correctional and detention facilities owned by government agencies	12
Interest capitalization cost on construction in progress	$ 2,500,000	$ 800,000	$ 1,100,000
Depreciation expense	114,000,000	112,800,000	113,200,000
Number of facilities subject to options	11
Number of facilities subject to options that are constructed on land which is leased from governmental agencies	2
Number of facilities also subject to purchase option	1
Ground Lease expiration year														2015	2017
Operating lease, expire date																June 2015	December 2015
Operating leases agreement renewal term								1 year
Agreement notice period for termination					90 days					90 days			60 days
Lease termination penalty													13,400,000
Payment amount						70,000,000
Average number of useful life in years					4 years
Operating lease term							4 months
Number of beds at the facility	84,500										2,400	2,400
Contractually committed for various other services									57,600,000
Rental expenses incurred on lease property	9,100,000	5,900,000	4,700,000
Payments expected to be made under the cancelable lease									287,400,000
Percentage of property tax abatement																		50.00%	100.00%	90.00%
Principal amount of bond issued																		30,000,000	33,000,000	15,000,000
Number of years of tax abatement																		6	5	9
Percentage of property tax abatement, decrease in percentage																				10.00%
Purchase price paid for real property in addition to bonds value				$ 100

Property and Equipment (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Property, Plant and Equipment [Line Items]
Land and improvements	$ 127,221	$ 127,246
Buildings and improvements	3,048,836	3,058,748
Equipment and software	326,603	316,696
Office furniture and fixtures	30,884	30,969
Construction in progress	276,508	93,187
Property and equipment, gross	3,810,052	3,626,846
Less: Accumulated depreciation	(1,151,424)	(1,080,233)
Property, and Equipment, total	$ 2,658,628	$ 2,546,613

Schedule of Future Minimum Lease Payments (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014
Leases Future Minimum Payments [Line Items]
2015	$ 83,427
2016	79,538
2017	73,412
2018	53,733
2019	0
Thereafter	$ 0

Real Estate Transactions - Additional Information (Detail) (USD $)	3 Months Ended	12 Months Ended			0 Months Ended		3 Months Ended		3 Months Ended			3 Months Ended	12 Months Ended		1 Months Ended	12 Months Ended		1 Months Ended	12 Months Ended							12 Months Ended	1 Months Ended		1 Months Ended
	Dec. 31, 2014 Bed	Dec. 31, 2014 Bed	Dec. 31, 2013	Dec. 31, 2012	Jul. 31, 2013 Correctional Alternatives, Inc.	Jul. 31, 2013 Correctional Alternatives, Inc.	Dec. 31, 2014 Queensgate Correctional And Mineral Wells Pre Parole Transfer Facility	Sep. 30, 2014 Queensgate Correctional And Mineral Wells Pre Parole Transfer Facility	Sep. 30, 2014 Houston Educational Facility	Jun. 30, 2014 Houston Educational Facility	Mar. 31, 2014 Houston Educational Facility	Dec. 31, 2013 North Georgia Facility	Dec. 31, 2014 San Diego Correctional Facility Facility	Dec. 31, 2014 Otay Mesa Detention Center Facility	Oct. 31, 2013 State of California Department of Corrections and Rehabilitation	Dec. 31, 2014	Nov. 30, 2013 Facility	Sep. 30, 2012 Red Rock Correctional Center Person RenewalOptions	Dec. 31, 2014 Red Rock Correctional Center Facility	Dec. 31, 2014 ICE Business-Combination	Dec. 31, 2014 Idle Facilities	Dec. 31, 2013 Idle Facilities	Dec. 31, 2012 Idle Facilities	Dec. 31, 2014 Idle Facilities Noncore Business	Dec. 31, 2013 Idle Facilities Noncore Business	Dec. 31, 2014 Installment Payment ICE Installment	Sep. 30, 2014 Maximum South Texas Family Residential Center Facility	Dec. 31, 2014 Maximum South Texas Family Residential Center Facility	Sep. 30, 2014 Minimum South Texas Family Residential Center
Facility Activations Developments And Closures [Line Items]
Consideration paid					$ 36,500,000
Business acquisition transaction related expenses						800,000
Purchase price, goodwill	16,110,000	16,110,000	16,110,000			7,000,000
Purchase price, identifiable intangible assets						26,900,000
Purchase price, intangible liabilities						7,900,000
Purchase price, net tangible assets						17,700,000
Purchase price, deferred tax liabilities						7,200,000
Operating Expense		1,156,135,000	1,220,351,000	1,217,051,000																	7,900,000	6,400,000	6,000,000
Carrying value of idle facilities								28,800,000			6,400,000													1,300,000	30,400,000
Asset impairments	27,800,000	30,082,000	6,513,000				27,800,000			2,200,000		3,800,000
Offer from third party									4,500,000
Sale, closing date									2014-12
Number of beds at the facility	84,500	84,500											1,154	1,492			2,552		1,596								2,400	2,400
Lease expiration date													Dec. 31, 2015
Amount invested to acquire property	276,508,000	276,508,000	93,187,000											121,500,000		60,700,000
Percentage of guaranteed occupancy under management contract																90.00%		90.00%
Expected additional number of offenders to be managed by the company																		1,000
Management contract, initial term																		10 years									4 years
Management contract, number of renewal options																		2
Management contract, renewal option term																		5 years
Management contract term facility will revert to the state of Arizona																		20 years
Capital improvements for certain physical plant modifications		45,929,000	30,376,000	77,233,000															20,800,000
Maximum number of useful life in years																			20 years
Agreement notice period for termination																													90 days
Payment amount	87,227,000	87,227,000	1,070,000																	70,000,000						35,000,000
Number of installments																										2
Installments due																										Dec. 31, 2014
Number of distinct multiple element arrangements																				5
Deferred revenue recognized																				21,000,000
Lease agreement commencing date															Dec. 01, 2013
Lease term															3 years
Renewal options term															2 years
Annual rent															28,500,000
Rent increase percentage															2.00%
Tenant improvements expenses															10,000,000
Lease termination expenses												$ 1,000,000

Idled Facilities and Respective Carrying Values Excluding Equipment and Other Assets (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014 Facility	Dec. 31, 2013
Facility Activations Developments And Closures [Line Items]
Design Capacity	84,500
Prairie Correctional Facility
Facility Activations Developments And Closures [Line Items]
Design Capacity	1,600
Date Idled	2010
Net Carrying Value	$ 18,748	$ 19,366
Huerfano County Correctional Center
Facility Activations Developments And Closures [Line Items]
Design Capacity	752
Date Idled	2010
Net Carrying Value	19,033	19,800
Diamondback Correctional Facility
Facility Activations Developments And Closures [Line Items]
Design Capacity	2,160
Date Idled	2010
Net Carrying Value	44,480	44,223
Otter Creek Correctional Center
Facility Activations Developments And Closures [Line Items]
Design Capacity	656
Date Idled	2012
Net Carrying Value	24,089	24,805
Marion Adjustment Center
Facility Activations Developments And Closures [Line Items]
Design Capacity	826
Date Idled	2013
Net Carrying Value	12,978	13,429
Total Idle Facilities
Facility Activations Developments And Closures [Line Items]
Design Capacity	5,994
Net Carrying Value	$ 119,328	$ 121,623

Investment in Affiliate - Additional Information (Detail) (USD $)	12 Months Ended
	Dec. 31, 2014 Y	Dec. 31, 2013	Dec. 31, 2012
Investments in and Advances to Affiliates [Line Items]
Ownership interest in APM	50.00%
Duration of prison management contract with an agency of the United Kingdom government	25
Working capital loan to APM	$ 3,700,000
Equity earnings (losses) of joint venture	720,000	78,000	323,000
Other Assets
Investments in and Advances to Affiliates [Line Items]
Equity in net earnings of Affiliate	$ 100,000

This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee.

+ References+ Details

Investment in Direct Financing Lease (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Schedule of Finance Lease Obligations [Line Items]
2015	$ 2,793
2016	2,793
2017	694
2018	0
2019	0
Total minimum obligation	6,280
Less unearned interest income	(807)
Less current portion of direct financing lease	(2,250)
Investment in direct financing lease	$ 3,223	$ 5,473

Schedule of Other Assets (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Schedule of Other Assets [Line Items]
Debt issuance costs, less accumulated amortization of $5,413 and $2,311, respectively	$ 14,305	$ 17,336
Intangible lease value	24,289	25,567
Deferred leasing costs	8,338	9,305
Notes receivable, net	8,285	6,987
Cash equivalents and cash surrender value of life insurance held in Rabbi trust	17,918	15,811
Deposits	1,982	2,037
Straight-line rent receivable	1,729	133
Other	1,240	652
Other assets, total	$ 78,086	$ 77,828

Schedule of Accounts Payable and Accrued Expenses (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Accounts Payable and Accrued Liabilities [Line Items]
Trade accounts payable	$ 49,825	$ 49,826
Accrued salaries and wages	58,173	58,810
Accrued dividends	61,129	56,306
Accrued workers' compensation and auto liability	7,727	8,409
Accrued litigation	4,323	6,170
Accrued employee medical insurance	8,530	9,658
Accrued property taxes	24,522	24,721
Accrued interest	6,435	6,331
Deferred revenue	5,725	375
Construction payable	64,995	8,374
Other	26,182	23,297
Accounts payable and accrued expenses, total	$ 317,566	$ 252,277

Accounts Payable, Accrued Expenses and Other Long-Term Liabilities - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Accounts Payable and Accrued Liabilities [Line Items]
Workers' compensation and auto liability	$ 23.5	$ 24.1
Workers' compensation discount rate	3.00%	3.00%
Workers compensation and auto liability, undiscounted basis	$ 26.4	$ 27.1

Other Long Term Liabilities (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Other Long Term Liabilities [Line Items]
Deferred revenue	$ 87,227	$ 1,070
Intangible lease liability	7,352	7,739
Accrued workers' compensation	15,732	15,707
Accrued deferred compensation	13,036	15,013
Other	3,356	5,983
Other liabilities	$ 126,703	$ 45,512

Schedule of Debt Outstanding (Parenthetical) (Detail)	12 Months Ended
Schedule of Debt Outstanding (Parenthetical) (Detail)	Dec. 31, 2014	Dec. 31, 2013
Senior Notes 4.625% Due 2023
Debt Instrument [Line Items]
Interest rate stated percentage of Senior Notes	4.625%
Note maturity date	May 01, 2023
Senior Notes interest payable dates	interest payable semi-annually in May and November at 4.625%.
Senior Notes 4.125% Due 2020
Debt Instrument [Line Items]
Interest rate stated percentage of Senior Notes	4.125%
Note maturity date	Apr. 01, 2020
Senior Notes interest payable dates	interest payable semi-annually in April and October at 4.125%.
Revolving Credit Facility
Debt Instrument [Line Items]
Revolving Credit Facility maturity date	Dec. 31, 2017
Weighted average rate	1.90%	1.70%
Senior Notes interest payable dates	interest payable periodically at variable interest rates.

Debt - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	12 Months Ended		3 Months Ended	12 Months Ended		12 Months Ended		1 Months Ended		12 Months Ended		12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Mar. 31, 2013 Amended Revolving Credit Facility	Dec. 31, 2014 Amended Revolving Credit Facility	Mar. 31, 2012 Amended Revolving Credit Facility	Dec. 31, 2014 Amended Revolving Credit Facility Minimum	Dec. 31, 2014 Amended Revolving Credit Facility Maximum	Apr. 30, 2013 Senior Notes Due 2020 Issuance Of Debt	Apr. 30, 2013 Senior Notes Due 2023 Issuance Of Debt	Dec. 31, 2014 Senior Notes 4.125% Due 2020	Apr. 30, 2013 Senior Notes 4.125% Due 2020 Issuance Of Debt	Dec. 31, 2014 Senior Notes 4.625% Due 2023	Apr. 30, 2013 Senior Notes 4.625% Due 2023 Issuance Of Debt
Debt Instrument [Line Items]
Line of credit facility maximum borrowing capacity			$ 900.0	$ 900.0	$ 785.0
Revolving Credit Facility maturity extension period			1 year
Revolving Credit Facility maturity date			2017-12
Debt issuance costs, capitalized			2.7
Line of credit interest on outstanding borrowings				At CCA’s option, interest on outstanding borrowings under the $900.0 Million Revolving Credit Facility is based on either a base rate plus a margin ranging from 0.25% to 1.0% or a London Interbank Offered Rate (“LIBOR”) plus a margin ranging from 1.25% to 2.0% based on CCA’s leverage ratio.
Base rate plus a margin				0.75%		0.25%	1.00%
LIBOR plus a margin				1.75%		1.25%	2.00%
Line of credit facility, aggregate principal amount of additional borrowing				100.0
Sublimit swing line loans				30.0
Percentage of commitment fee to unfunded balance				0.35%
Borrowings under credit facility				525.0
Revolving Credit Facility letters of credit outstanding	16.3	25.0
Line of credit facility				358.7
Sublimit for issuance of standby letters of credit				50.0
Percentage of capital stock of foreign subsidiary secured by pledge under Revolving Credit Facilities				65.00%
Aggregate principal amount								$ 325.0	$ 350.0
Debt instrument due date								Apr. 01, 2020	May 01, 2023	Apr. 01, 2020		May 01, 2023
Debt instrument interest rate								4.125%	4.625%	4.125%		4.625%
Debt instrument redemption percentage of par											100.00%		100.00%
Percentage of Senior Notes offer price in connection with an asset sale	100.00%
Percentage of Senior Notes offer price in connection with change in control	101.00%

Schedule of Principal Payments (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014
Debt Instrument [Line Items]
2015	$ 0
2016	0
2017	525,000
2018	0
2019	0
Thereafter	675,000
Total debt	$ 1,200,000

Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References+ Details

Income Taxes - Additional Information (Detail) (USD $)	3 Months Ended	12 Months Ended
Income Taxes - Additional Information (Detail) (USD $)	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Taxes [Line Items]
Minimum Distribution Percentage of Taxable Income to Qualify for Real Estate Investment Trust		90.00%
Minimum distribution Percentage of Taxable Income to avoid Federal Income Taxes		100.00%
Tax benefits associated with equity-based compensation		$ 665,000	$ 351,000	$ 2,609,000
Effective tax rate		3.40%	(79.60%)	35.80%
Expected net tax benefit	137,700,000
Liabilities for uncertain tax positions		$ 0	$ 0

Components of Income Tax Expense (Benefit) (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Tax Expenses [Line Items]
Current income tax expense (benefit), Federal	$ 9,326	$ 13,674	$ 75,867
Current income tax expense (benefit), State	828	2,368	5,885
Current income tax expense (benefit), Total	10,154	16,042	81,752
Deferred income tax expense (benefit), Federal	(2,280)	(144,771)	8,576
Deferred income tax expense (benefit), State	(931)	(6,266)	(2,815)
Deferred income tax expense (benefit), Total	(3,211)	(151,037)	5,761
Income tax expense (benefit)	$ 6,943	$ (134,995)	$ 87,513

Amount of current federal tax expense (benefit) pertaining to income (loss) from continuing operations.

+ References+ Details

Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations.

+ References+ Details

Amount of current state and local tax expense (benefit) pertaining to income (loss) from continuing operations.

+ References+ Details

Amount of deferred federal income tax expense (benefit) pertaining to income (loss) from continuing operations.

+ References+ Details

Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations.

+ References+ Details

Amount of deferred state and local tax expense (benefit) pertaining to income (loss) from continuing operations.

+ References+ Details

Components of Deferred Tax Assets and Liabilities (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Deferred Income Tax Assets And Liabilities [Line Items]
Asset reserves and liabilities not yet deductible for tax	$ 15,969	$ 11,284
Net current deferred tax assets	15,969	11,284
Current deferred tax liabilities, Other	(2,740)	(2,043)
Net total current deferred tax assets	13,229	9,241
Asset reserves and liabilities not yet deductible for tax	15,665	17,372
Tax over book basis of certain assets	924	897
Net operating loss and tax credit carryforwards	5,008	4,575
Intangible contract value	2,877	3,024
Noncurrent deferred tax assets, Other	579	705
Total noncurrent deferred tax assets	25,053	26,573
Less valuation allowance	(4,065)	(4,497)
Net noncurrent deferred tax assets	20,988	22,076
Book over tax basis of certain assets	(9,028)	(9,067)
Intangible lease value	(9,431)	(9,894)
Deferred tax liabilities, other	(228)	(37)
Total noncurrent deferred tax liabilities	(18,687)	(18,998)
Non-current deferred tax assets	$ 2,301	$ 3,078

Reconciliation of Income Tax Provision at Statutory Income Tax Rate and Effective Tax Rate (Detail)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Reconciliation of Provision of Income Taxes [Line Items]
Statutory federal rate	35.00%	35.00%	35.00%
Dividends paid deduction	(31.10%)	(30.70%)
State taxes, net of federal tax benefit	0.80%	1.10%	1.00%
Permanent differences	0.10%	3.00%	0.70%
Impact of REIT election		(87.00%)
Other items, net	(1.40%)	(1.00%)	(0.90%)
Effective income tax rate, Total	3.40%	(79.60%)	35.80%

Discontinued Operations - Additional Information (Detail) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Jan. 31, 2012 Delta Correctional Facility Facility	Nov. 30, 2011 Delta Correctional Facility Facility	Jun. 30, 2013 Dawson State Jail Facility	Jun. 30, 2013 Wilkinson County Correctional Facility Facility
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Housing capacity of terminated facility, in beds				1,172	2,216	1,000
Number of inmates being transferred from facility			900
Assets of discontinued operations	$ 0
Current assets of discontinued operations		15,000
Current liabilities of discontinued operations	$ 54,000	$ 886,000

Summarized Results of Operations for Discontinued Facilities (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended			12 Months Ended
	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2013	Dec. 31, 2012
Discontinued Operations [Line Items]
Managed-only, Revenue				$ 19,984	$ 36,421
Managed-only, Revenue				19,984	36,421
Managed-only, Expenses				22,529	35,994
Depreciation and amortization, Expenses				799	870
Asset impairments				2,637
Disposal Group, Including Discontinued Operation, Operating Expense, Total				25,965	36,864
OPERATING LOSS				(5,981)	(443)
Other (expense) income				(17)	96
LOSS BEFORE INCOME TAXES				(5,998)	(347)
Income tax benefit				2,241	142
LOSS FROM DISCONTINUED OPERATIONS, NET OF TAXES	$ (663)	$ (2,739)	$ (355)	$ (3,757)	$ (205)

Declared Common Stock Dividends (Detail) (USD $)

12 Months Ended

Dec. 31, 2014

Dividend Payment 1st

May 11, 2012

Jun. 08, 2012

Jun. 22, 2012

$ 0.200000

^[1]

$ 0.20

Dividend Payment 2nd

Aug. 20, 2012

Sep. 14, 2012

Sep. 28, 2012

$ 0.200000

^[1]

$ 0.20

Dividend Payment 3rd

Nov. 06, 2012

Nov. 30, 2012

Dec. 14, 2012

$ 0.200000

^[1]

$ 0.20

Dividend Payment 4th

Feb. 22, 2013

Apr. 03, 2013

Apr. 15, 2013

$ 0.346119

$ 0.183881

$ 0.53

Dividend Payment 5th

May 16, 2013

Jul. 03, 2013

Jul. 15, 2013

$ 0.313466

$ 0.166534

$ 0.48

Dividend Payment 6th

Aug. 16, 2013

Oct. 02, 2013

Oct. 15, 2013

$ 0.313466

$ 0.166534

$ 0.48

Dividend Payment 7th

Dec. 12, 2013

Jan. 02, 2014

Jan. 15, 2014

$ 0.480000

^[2]

$ 0.48

Dividend Payment 8th

Feb. 20, 2014

Apr. 02, 2014

Apr. 15, 2014

$ 0.510000

^[3]

$ 0.51

Dividend Payment 9th

May 15, 2014

Jul. 02, 2014

Jul. 15, 2014

$ 0.510000

^[3]

$ 0.51

Dividend Payment 10th

Aug. 14, 2014

Oct. 02, 2014

Oct. 15, 2014

$ 0.510000

^[3]

$ 0.51

Dividend Payment 11th

Dec. 11, 2014

Jan. 02, 2015

Jan. 15, 2015

$ 0.000000

^[4]

Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]

$ 0.51

[1]	The amount constitutes a "Qualified Dividend", as defined by the IRS.
[2]	$0.072069 of this amount constitutes a "Qualified Dividend", as defined by the IRS.
[3]	$0.076573 of this amount constitutes a "Qualified Dividend", as defined by the IRS.
[4]	Taxable in 2015.

Stockholders Equity - Additional Information (Detail) (USD $)	12 Months Ended				0 Months Ended						0 Months Ended	1 Months Ended	12 Months Ended	1 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	May 09, 2013	Apr. 08, 2013 Ordinary Income	Apr. 08, 2013 Return of Capital	Dec. 31, 2014 2008 Stock Incentive Plan	Dec. 31, 2011 2008 Stock Incentive Plan	Dec. 31, 2014 Non-Employee Directors' Compensation Plan	Dec. 31, 2003 Non-Employee Directors' Compensation Plan	Apr. 08, 2013 Dividend Declared	Apr. 30, 2013 Special Dividend	Dec. 31, 2014 Stock Option	Apr. 30, 2013 Maximum Special Dividend	Dec. 31, 2014 Restricted stock based compensation	Dec. 31, 2013 Restricted stock based compensation	Dec. 31, 2012 Restricted stock based compensation	Dec. 31, 2014 Restricted stock based compensation Officers And Executive Officers	Dec. 31, 2014 Restricted stock based compensation Other Employees	Dec. 31, 2014 Restricted stock based compensation General and Administrative Expense	Dec. 31, 2013 Restricted stock based compensation General and Administrative Expense	Dec. 31, 2012 Restricted stock based compensation General and Administrative Expense	Dec. 31, 2014 Restricted stock based compensation Operating Expense	Dec. 31, 2013 Restricted stock based compensation Operating Expense	Dec. 31, 2012 Restricted stock based compensation Operating Expense	Dec. 31, 2014 Stock options	Dec. 31, 2014 Stock options General and Administrative Expense	Dec. 31, 2013 Stock options General and Administrative Expense	Dec. 31, 2012 Stock options General and Administrative Expense	Dec. 31, 2014 Stock options Maximum	Dec. 31, 2014 Stock options Minimum
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Dividend declared											$ 675,000,000
Dividend declared per share					$ 6.647357	$ 0.012643					$ 6.66
Dividend declared payment date											May 20, 2013
Dividend declared record date											Apr. 19, 2013
Dividend declared, maximum percentage of cash dividend														20.00%
Dividend declared, cash														135,000,000
Number of shares of CCA common stock distributed pursuant to the special dividend												13,900,000
Closing price of common stock				$ 38.90
Restricted common stock and common stock units and stock options issued by CCA to certain of its employees															548,000	423,000				478,000	378,000		70,000	45,000
Fair value of restricted common stock and common stock units and stock options issued by CCA to certain of its employees															17,800,000	15,600,000
Vesting period																		3 years												4 years	3 years
Performance criteria, cumulative period																		3 years
Percent of awards eligible to vest																		33.33%
Vesting period, continuous service requirement																			3 years
Unrecognized compensation cost													800,000		16,600,000
Remaining period for recognizing the unrecognized compensation cost, in years													10 months 24 days		1 year 9 months 18 days
Allocated share-based compensation expense															12,100,000	9,800,000	7,600,000			10,700,000	8,600,000	6,400,000	1,400,000	1,200,000	1,200,000
Total fair value of restricted common stock and common stock units that vested															9,800,000	10,500,000	5,400,000
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares par value	$ 0.01	$ 0.01
Term of options																										10 years
Expense net of estimated forfeitures, relating to common stock options																											1,900,000	3,100,000	4,700,000
Total intrinsic value of options exercised	$ 12,300,000	$ 36,900,000	$ 5,500,000
Weighted average fair value of options granted per option	$ 0		$ 7.50
Number of shares authorized for issuance of awards								18,000,000		225,000
Number of shares available for issuance							11,200,000		200,000

Summary of Nonvested Restricted Common Stock Transactions (Detail) (Restricted stock based compensation, USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014
Restricted stock based compensation
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of restricted common stock and RSUs, Nonvested at December 31, 2013	812
Shares of restricted common stock and RSUs, Granted	548
Shares of restricted common stock and RSUs, Cancelled	(31)
Shares of restricted common stock and RSUs, Vested	(309)
Shares of restricted common stock and RSUs, Nonvested at December 31, 2014	1,020
Weighted average grant date fair value, Nonvested at December 31, 2013	$ 32.81
Weighted average grant date fair value, Granted	$ 32.40
Weighted average grant date fair value, Cancelled	$ 32.31
Weighted average grant date fair value, Vested	$ 31.73
Weighted average grant date fair value, Nonvested at December 31, 2014	$ 32.93

Summary of Stock Option Transactions Relating to Non-Qualified Stock Option Plans (Detail) (Stock options, USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014
Stock options
Number of Shares
Outstanding at December 31, 2013	2,602
No. of options, Granted	0
No. of options, Exercised	(712)
No. of options, Cancelled	(6)
No. of options, Outstanding at December 31, 2014	1,884
No. of options, Exercisable at December 31, 2014	1,602
Weighted-Average Exercise Price per Share
Weighted-Average Exercise Price of options, Outstanding at December 31, 2013	$ 19.31
Weighted-Average Exercise Price of options, Granted	$ 0
Weighted-Average Exercise Price of options, Exercised	$ 17.47
Weighted-Average Exercise Price of options, Cancelled	$ 22.34
Weighted-Average Exercise Price of options, Outstanding at December 31, 2014	$ 20.00
Weighted-Average Exercise Price of options, Exercisable at December 31, 2014	$ 19.58
Weighted Average Remaining Contractual Term (in years)
Outstanding at December 31, 2014	5 years
Exercisable at December 31, 2014	4 years 7 months 6 days
Aggregate Intrinsic Value
Outstanding at December 31, 2014	$ 30,792
Exercisable at December 31, 2014	$ 26,841

Schedule of Estimated Fair Value of Option Grant Using Black-Scholes Option Pricing Mode (Detail)	12 Months Ended
	Dec. 31, 2012
Schedule of Weighted Average Fair Values of Stock Options [Line Items]
Expected dividend yield	3.00%
Expected stock price volatility	42.20%
Risk-free interest rate	1.00%
Expected life of options	5 years

Summary of Nonvested Stock Option Transactions (Detail) (USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options, Nonvested at December 31, 2013	679
Number of options, Granted	0
Number of options, Cancelled	0
Number of options, Vested	(397)
Number of options, Nonvested at December 31, 2014	282
Weighted average grant date fair value, Nonvested at December 31, 2013	$ 6.88
Weighted average grant date fair value, Granted	$ 0	$ 7.50
Weighted average grant date fair value, Cancelled	$ 0
Weighted average grant date fair value, Vested	$ 7.04
Weighted average grant date fair value, Nonvested at December 31, 2014	$ 6.66

Schedule of Calculation of Numerator and Denominator in Earnings Per Share (Detail) (USD $)
In Thousands, except Per Share data, unless otherwise specified

3 Months Ended

12 Months Ended

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

$ 195,022

$ 304,592

$ 156,966

(663)

(2,739)

(355)

(3,757)

(205)

Weighted average shares and assumed conversions

30,006

^[1]

57,546

55,732

51,738

47,471

51,843

20,429

^[2]

181,092

^[3]

195,022

300,835

156,761

117,312

111,250

100,623

$ 1.68

$ 2.77

$ 1.58

$ (0.03)

$ 0.26

^[1]

$ 0.50

$ 0.48

$ 0.45

$ 0.41

$ 0.45

$ 0.19

^[2]

$ 1.81

^[3]

$ 1.68

$ 2.74

$ 1.58

$ 1.66

$ 2.73

$ 1.56

$ (0.03)

Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]

$ 0.25

^[1]

$ 0.49

$ 0.48

$ 0.44

$ 0.41

$ 0.44

$ 0.19

^[2]

$ 1.78

^[3]

$ 1.66

$ 2.70

$ 1.56

Basic Earnings Per Share

195,022

304,592

156,966

(3,757)

(205)

Weighted average common shares outstanding, basic

195,022

300,835

156,761

116,109

109,617

99,545

Diluted Earnings Per Share

Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]

195,022

304,592

156,966

(3,757)

(205)

Weighted average common shares outstanding, diluted

$ 195,022

$ 300,835

$ 156,761

116,109

109,617

99,545

Stock options

Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]

Effect of dilutive securities

895

1,279

864

Restricted stock based compensation

Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]

Effect of dilutive securities

308

354

214

[1]	The earnings amounts in the fourth quarter of 2014 were unfavorably impacted by $27.8 million of non-cash impairments recorded to write down the book values of two of CCA's non-core facilities to the estimated fair values, as discussed in Note 5.
[2]	The earnings amounts in the second quarter of 2013 were negatively impacted by $36.3 million of expenses associated with debt refinancing transactions.
[3]	The earnings amounts in the first quarter of 2013 were favorably impacted by the net tax benefit resulting from the revaluation of certain deferred tax assets and liabilities associated with the REIT conversion effective January 1, 2013.

Earnings Per Share - Additional Information (Detail)	12 Months Ended			1 Months Ended
Earnings Per Share - Additional Information (Detail)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Apr. 30, 2013 Special Dividend
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of shares of CCA common stock distributed pursuant to the special dividend				13,900,000
Stock options excluded from computation of earnings per share because they were anti-dilutive	12,000.0	15,000.0	700,000

Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.

+ References+ Details

Commitments and Contingencies - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	1 Months Ended	12 Months Ended
	Feb. 28, 2014	Dec. 31, 2014 Y LegalMatter D Bed	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2014 Executive Officer	Dec. 31, 2014 Non Employee Directors	Dec. 31, 2014 Prior to January One Twenty Twelve After Two Years Of Service	Dec. 31, 2014 Prior to January One Twenty Twelve After Three Years Of Service	Dec. 31, 2014 Prior to January One Twenty Twelve After Four Years Of Service	Dec. 31, 2014 Prior to January One Twenty Twelve After Five Or More Years Of Service	Dec. 31, 2014 Hardeman County Correctional Facilities Corporation	Dec. 31, 1997 Hardeman County Correctional Facilities Corporation Facility
Loss Contingencies [Line Items]
Compensation amount on contractual disputes	$ (1)
Number of pending legal proceedings that would have an effect on consolidated financial position, results of operations, or cash flows		0
Issuance of revenue bonds												72.7
Number of beds at the facility		84,500										2,016
Outstanding principal balance of revenue bonds											18.6
Outstanding principal balance of the bonds exceeded the purchase price option											7.3
Minimum age limit for participating in the Savings and Retirement Plan, years		18
Minimum qualified service required to participate in the Savings and Retirement Plan, years		1
Eligible employee contribution on eligible compensation		90.00%
Employer discretionary matching contribution equal to employee contribution		100.00%	100.00%	100.00%
Maximum percentage of employer discretionary matching contribution of employee eligible compensation		5.00%	5.00%	5.00%
Minimum number of hours of employment in the plan year for discretionary matching contribution		One thousand
Vested percentage of employer contributions and investment earnings or losses							20.00%	40.00%	80.00%	100.00%
Discretionary contribution plan forfeitures, net		11.1	11.8	11.1
Number of qualified deferred compensation plans		2
Contribution as percentage of salary					50.00%
Contribution as percentage of cash bonus					100.00%
Contribution as percentage of retainer and meeting fees						100.00%
Total cash compensation under Deferred Compensation Plans		5.00%	5.00%	5.00%
Time period when distributions are paid, minimum years subsequent to the date an individual becomes a participant in the Plan		5
Distributions to senior executives commencement period, days after participant's separation from service		60
Distributions to senior executives commencement period, time period		The fifteenth day of the month following the month the individual attains age 65.
Percentage of fixed return from Deferred Compensation Plans to participants		5.60%	5.60%	5.90%
Deferred Compensation Plans assets		17.9	15.8
Matching contributions as general and administrative expense associated with the Deferred Compensation Plans		0.2	0.2	0.5
Deferred Compensation Plans liability		$ 15.7	$ 16.4

Segment Reporting - Additional Information (Detail)	12 Months Ended
Segment Reporting - Additional Information (Detail)	Dec. 31, 2014 Segment Property Facility
Segment Reporting Information [Line Items]
Number of facilities owned and managed	49
Number of facilities owned by government partners, managed	12
Number of reportable segments	1
Number of facilities leased to third party operators	3

Schedule of Revenue and Net Operating Income of Owned and Managed and the Managed-Only Facilities and Reconciliation to CCA's Operating Income (Detail) (USD $)
In Thousands, unless otherwise specified

3 Months Ended

12 Months Ended

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

General and administrative expense

Total management revenue

$ 1,612,671

$ 1,687,809

$ 1,718,382

Total operating expenses

1,136,212

1,203,541

1,199,358

Rental and other revenue

34,196

6,488

5,275

Other operating expense

(19,923)

(16,810)

(17,693)

(106,429)

(103,590)

(88,935)

(113,925)

(112,692)

(113,063)

(27,800)

(30,082)

(6,513)

41,845

^[1]

69,850

65,535

63,066

56,019

67,271

67,969

59,892

240,296

251,151

304,608

Owned and managed

Total management revenue

1,379,986

1,386,355

1,418,783

Total operating expenses

928,857

941,638

935,680

451,129

444,717

483,103

Managed-only

Total management revenue

232,685

301,454

299,599

Total operating expenses

207,355

261,903

263,678

25,330

39,551

35,921

Facility

Condensed Financial Statements, Captions [Line Items]

$ 476,459

$ 484,268

$ 519,024

[1]	The earnings amounts in the fourth quarter of 2014 were unfavorably impacted by $27.8 million of non-cash impairments recorded to write down the book values of two of CCA's non-core facilities to the estimated fair values, as discussed in Note 5.

Schedule of Total Assets (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Total assets	$ 3,127,191	$ 3,007,425
Owned and managed
Segment Reporting Information [Line Items]
Total assets	2,745,905	2,715,719
Managed-only
Segment Reporting Information [Line Items]
Total assets	68,146	81,551
Corporate and Other
Segment Reporting Information [Line Items]
Total assets	313,140	210,140
Discontinued operations
Segment Reporting Information [Line Items]
Total assets		$ 15

Subsequent Events - Additional Information (Detail) (Subsequent Event, USD $) In Millions, except Share data, unless otherwise specified	0 Months Ended	1 Months Ended
	Feb. 20, 2015	Feb. 28, 2015 Restricted Stock Units (RSUs) CCA's employees and non-employee directors	Feb. 28, 2015 Restricted Stock Units (RSUs) Officers And Executive Officers	Feb. 28, 2015 Restricted Stock Units (RSUs) Other Employees
Subsequent Event [Line Items]
Number of shares issued		400,000	300,000	100,000
Aggregate value of shares issued		$ 16.9
Vesting period			3 years
Dividend declared per common share	$ 0.54
Dividend declared payment date	Apr. 15, 2015
Dividend declared record date	Apr. 02, 2015

Condensed Consolidating Balance Sheet (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
ASSETS
Cash and cash equivalents	$ 74,393	$ 77,909
Accounts receivable, net of allowance	248,588	244,957
Current deferred tax assets	13,229	9,241
Prepaid expenses and other current assets	29,775	20,612
Current assets of discontinued operations		15
Total current assets	365,985	352,734
Property and equipment, net	2,658,628	2,546,613
Restricted cash	2,858	5,589
Investment in direct financing lease	3,223	5,473
Goodwill	16,110	16,110
Non-current deferred tax assets	2,301	3,078
Other assets	78,086	77,828
Total assets	3,127,191	3,007,425
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable and accrued expenses	317,566	252,277
Income taxes payable	1,368	1,243
Current liabilities of discontinued operations	54	886
Total current liabilities	318,988	254,406
Long-term debt	1,200,000	1,205,000
Other liabilities	126,703	45,512
Total liabilities	1,645,691	1,504,918
Total stockholders' equity	1,481,500	1,502,507	1,521,620	1,408,022
Total liabilities and stockholders' equity	3,127,191	3,007,425
Parent
ASSETS
Cash and cash equivalents	12,337	31,647
Accounts receivable, net of allowance	167,626	203,018
Current deferred tax assets		2
Prepaid expenses and other current assets	17,060	7,580
Total current assets	197,023	242,247
Property and equipment, net	2,459,053	2,450,028
Restricted cash	1,267	1,016
Investment in direct financing lease	3,223	5,473
Other assets	241,690	245,028
Total assets	2,902,256	2,943,792
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable and accrued expenses	218,403	234,277
Income taxes payable	195
Current deferred tax liabilities	13
Total current liabilities	218,611	234,277
Long-term debt	1,200,000	1,205,000
Non-current deferred tax liabilities	477	555
Other liabilities	1,668	1,453
Total liabilities	1,420,756	1,441,285
Total stockholders' equity	1,481,500	1,502,507
Total liabilities and stockholders' equity	2,902,256	2,943,792
Combined Subsidiary Guarantors
ASSETS
Cash and cash equivalents	62,056	46,262
Accounts receivable, net of allowance	178,911	178,894
Current deferred tax assets	13,241	9,239
Prepaid expenses and other current assets	34,705	22,856
Current assets of discontinued operations		15
Total current assets	288,913	257,266
Property and equipment, net	199,575	96,585
Restricted cash	1,591	4,573
Goodwill	16,110	16,110
Non-current deferred tax assets	2,778	3,633
Other assets	47,046	45,149
Total assets	556,013	423,316
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable and accrued expenses	205,213	164,745
Income taxes payable	1,173	1,243
Note payable to an affiliate	13,854
Current liabilities of discontinued operations	54	886
Total current liabilities	220,294	166,874
Long-term debt	115,000	115,000
Other liabilities	125,035	44,059
Total liabilities	460,329	325,933
Total stockholders' equity	95,684	97,383
Total liabilities and stockholders' equity	556,013	423,316
Consolidating Adjustments and Other
ASSETS
Accounts receivable, net of allowance	(97,949)	(136,955)
Current deferred tax assets	(12)
Prepaid expenses and other current assets	(21,990)	(9,824)
Total current assets	(119,951)	(146,779)
Non-current deferred tax assets	(477)	(555)
Other assets	(210,650)	(212,349)
Total assets	(331,078)	(359,683)
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable and accrued expenses	(106,050)	(146,745)
Current deferred tax liabilities	(13)
Note payable to an affiliate	(13,854)
Total current liabilities	(119,917)	(146,745)
Long-term debt	(115,000)	(115,000)
Non-current deferred tax liabilities	(477)	(555)
Total liabilities	(235,394)	(262,300)
Total stockholders' equity	(95,684)	(97,383)
Total liabilities and stockholders' equity	$ (331,078)	$ (359,683)

Condensed Consolidating Statement of Operations (Detail) (USD $)
In Thousands, unless otherwise specified

3 Months Ended

12 Months Ended

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

$ 423,477

$ 408,474

$ 410,694

$ 404,222

$ 431,103

$ 421,466

$ 425,005

$ 416,723

$ 1,646,867

$ 1,694,297

$ 1,723,657

EXPENSES:

1,156,135

1,220,351

1,217,051

106,429

103,590

88,935

113,925

112,692

113,063

27,800

30,082

6,513

1,406,571

1,443,146

1,419,049

41,845

^[1]

69,850

65,535

63,066

56,019

67,271

67,969

59,892

240,296

251,151

304,608

Expenses associated with debt refinancing transactions

39,535

45,126

58,363

36,528

2,099

(1,204)

(100)

(333)

INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES

38,331

81,554

60,129

201,965

169,597

244,479

Income tax benefit (expense)

(6,943)

134,995

(87,513)

195,022

304,592

156,966

(663)

(2,739)

(355)

(3,757)

(205)

Condensed Financial Statements, Captions [Line Items]

30,006

^[1]

57,546

55,732

51,738

47,471

51,843

20,429

^[2]

181,092

^[3]

195,022

300,835

156,761

Parent

1,250,199

1,268,763

1,411,277

EXPENSES:

896,470

945,750

943,803

33,508

31,290

70,792

80,820

76,112

74,452

29,915

1,040,713

1,053,152

1,089,047

209,486

215,611

322,230

Expenses associated with debt refinancing transactions

35,138

38,319

57,174

28,563

2,099

302

(45)

INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES

35,440

66,837

59,289

174,046

148,774

262,941

Income tax benefit (expense)

(552)

143,590

(93,870)

Income from equity in subsidiaries

173,494

292,364

169,071

21,528

8,471

(12,310)

Condensed Financial Statements, Captions [Line Items]

195,022

300,835

156,761

Combined Subsidiary Guarantors

1,268,654

1,351,695

329,971

EXPENSES:

1,131,651

1,200,762

290,839

72,921

72,300

18,143

33,105

36,580

38,611

167

6,513

1,237,844

1,316,155

347,593

30,810

35,540

(17,622)

Expenses associated with debt refinancing transactions

4,397

6,807

1,189

7,965

(786)

(26)

INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES

3,611

14,795

1,163

27,199

20,745

(18,785)

Income tax benefit (expense)

(6,391)

(8,595)

6,357

20,808

12,150

(12,428)

(3,757)

(205)

Condensed Financial Statements, Captions [Line Items]

20,808

8,393

(12,633)

Consolidating Adjustments and Other

(871,986)

(926,161)

(17,591)

EXPENSES:

(871,986)

(926,161)

(17,591)

(871,986)

(926,161)

(17,591)

(720)

(78)

(323)

INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES

(720)

(78)

(323)

720

323

Income from equity in subsidiaries

720

323

(21,528)

(8,471)

12,310

$ (20,808)

$ (8,393)

$ 12,633

[1]	The earnings amounts in the fourth quarter of 2014 were unfavorably impacted by $27.8 million of non-cash impairments recorded to write down the book values of two of CCA's non-core facilities to the estimated fair values, as discussed in Note 5.
[2]	The earnings amounts in the second quarter of 2013 were negatively impacted by $36.3 million of expenses associated with debt refinancing transactions.
[3]	The earnings amounts in the first quarter of 2013 were favorably impacted by the net tax benefit resulting from the revaluation of certain deferred tax assets and liabilities associated with the REIT conversion effective January 1, 2013.

Condensed Consolidating Statement of Cash Flows (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	$ 423,581	$ 369,504	$ 283,256
Net cash used in investing activities	(196,887)	(125,512)	(79,920)
Net cash used in financing activities	(230,220)	(228,970)	(196,271)
Net (decrease) increase in cash and cash equivalents	(3,526)	15,022	7,065
CASH AND CASH EQUIVALENTS, beginning of year	77,919	62,897	55,832
CASH AND CASH EQUIVALENTS, end of year	74,393	77,919	62,897
Parent
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	296,087	211,247	260,602
Net cash used in investing activities	(73,404)	(83,895)	(42,378)
Net cash used in financing activities	(241,993)	(95,705)	(218,224)
Net (decrease) increase in cash and cash equivalents	(19,310)	31,647
CASH AND CASH EQUIVALENTS, beginning of year	31,647
CASH AND CASH EQUIVALENTS, end of year	12,337	31,647
Combined Subsidiary Guarantors
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	127,494	158,257	22,654
Net cash used in investing activities	(102,337)	(56,617)	(37,542)
Net cash used in financing activities	(9,373)	(118,265)	21,953
Net (decrease) increase in cash and cash equivalents	15,784	(16,625)	7,065
CASH AND CASH EQUIVALENTS, beginning of year	46,272	62,897	55,832
CASH AND CASH EQUIVALENTS, end of year	62,056	46,272	62,897
Consolidating Adjustments and Other
Condensed Financial Statements, Captions [Line Items]
Net cash used in investing activities	(21,146)	15,000
Net cash used in financing activities	$ 21,146	$ (15,000)

Quarterly Financial Information [Line Items]

For the entity and the disposal group, cash includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents.

+ References+ Details

Schedule of Selected Quarterly Financial Information (Detail) (USD $)
In Thousands, except Per Share data, unless otherwise specified

3 Months Ended

12 Months Ended

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Revenue

$ 423,477

$ 408,474

$ 410,694

$ 404,222

$ 431,103

$ 421,466

$ 425,005

$ 416,723

$ 1,646,867

$ 1,694,297

$ 1,723,657

41,845

^[1]

69,850

65,535

63,066

56,019

67,271

67,969

59,892

240,296

251,151

304,608

(663)

(2,739)

(355)

(3,757)

(205)

Basic earnings per share: Net income

$ 30,006

^[1]

$ 57,546

$ 55,732

$ 51,738

$ 47,471

$ 51,843

$ 20,429

^[2]

$ 181,092

^[3]

$ 195,022

$ 300,835

$ 156,761

$ 0.26

^[1]

$ 0.50

$ 0.48

$ 0.45

$ 0.41

$ 0.45

$ 0.19

^[2]

$ 1.81

^[3]

$ 1.68

$ 2.74

$ 1.58

Diluted earnings per share: Net income

$ 0.25

^[1]

$ 0.49

$ 0.48

$ 0.44

$ 0.41

$ 0.44

$ 0.19

^[2]

$ 1.78

^[3]

$ 1.66

$ 2.70

$ 1.56

[1]	The earnings amounts in the fourth quarter of 2014 were unfavorably impacted by $27.8 million of non-cash impairments recorded to write down the book values of two of CCA's non-core facilities to the estimated fair values, as discussed in Note 5.
[2]	The earnings amounts in the second quarter of 2013 were negatively impacted by $36.3 million of expenses associated with debt refinancing transactions.
[3]	The earnings amounts in the first quarter of 2013 were favorably impacted by the net tax benefit resulting from the revaluation of certain deferred tax assets and liabilities associated with the REIT conversion effective January 1, 2013.

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References+ Details

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References+ Details

SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References+ Details

Schedule of Selected Quarterly Financial Information (Parenthetical) (Detail) (USD $)	3 Months Ended		12 Months Ended
	Dec. 31, 2014	Jun. 30, 2013	Dec. 31, 2014	Dec. 31, 2013
Quarterly Financial Information [Line Items]
Asset impairments	$ 27,800,000		$ 30,082,000	$ 6,513,000
Costs associated with tender offer and redemption		$ 36,300,000

Schedule III - Real Estate and Accumulated Depreciation (Detail) (USD $)
In Thousands, unless otherwise specified

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2014

Adams County Correctional Center

Dec. 31, 2014

Bent County Correctional Facility

Dec. 31, 2014

Bridgeport Pre-Parole Transfer Facility

Dec. 31, 2014

CAI - Boston Avenue

Dec. 31, 2014

California City Correctional Center

Dec. 31, 2014

Central Arizona Detention Center

Dec. 31, 2014

Cibola County Corrections Center

Dec. 31, 2014

Cimarron Correctional Facility

Dec. 31, 2014

Coffee Correctional Facility

Dec. 31, 2014

Crossroads Correctional Center

Dec. 31, 2014

Crowley County Correctional Facility

Dec. 31, 2014

Davis Correctional Facility

Dec. 31, 2014

D.C. Correctional Treatment Facility

Dec. 31, 2014

Diamondback Correctional Facility

Dec. 31, 2014

Eden Detention Facility

Dec. 31, 2014

Eloy Detention Center

Dec. 31, 2014

Florence County Detention Center

Dec. 31, 2014

Houston Processing Center

Dec. 31, 2014

Huerfano County Correctional Center

Dec. 31, 2014

Jenkins County Correctional Center

Dec. 31, 2014

Kit Carson Correctional Center

Dec. 31, 2014

Lake Erie Correctional Institution

Dec. 31, 2014

La Palma Correctional Center

Dec. 31, 2014

Laredo Processing Center

Dec. 31, 2014

Leavenworth U.S.M. Detention Center

Dec. 31, 2014

Lee Adjustment Center

Dec. 31, 2014

Leo Chesney Correctional Center

Dec. 31, 2014

Marion Adjustment Center

Dec. 31, 2014

McRae County Georgia Prison

Dec. 31, 2014

Mineral Wells Pre-Parole Transfer Facility

Dec. 31, 2014

Nevada Southern Detention Center

Dec. 31, 2014

New Mexico Women's Correctional Facility

Dec. 31, 2014

North Fork Correctional Facility

Dec. 31, 2014

Northeast Ohio Correctional Center

Dec. 31, 2014

Otter Creek Adjustment Center

Dec. 31, 2014

Prairie Correctional Facility

Dec. 31, 2014

Queensgate Correctional Facility

Dec. 31, 2014

Red Rock Correctional Center

Dec. 31, 2014

Saguaro Correctional Center

Dec. 31, 2014

San Diego Correctional Facility

Dec. 31, 2014

Shelby Training Center

Dec. 31, 2014

Stewart Detention Center

Dec. 31, 2014

Tallahatchie County Correctional Facility

Dec. 31, 2014

T. Don Hutto Correctional Center

Dec. 31, 2014

Torrance County Detention Facility

Dec. 31, 2014

Webb County Detention Center

Dec. 31, 2014

West Tennessee Detention Facility

Dec. 31, 2014

Wheeler Correctional Facility

Dec. 31, 2014

Whiteville Correctional Facility

Location

Adams County, Mississippi

Las Animas, Colorado

Bridgeport, Texas

San Diego, California

California City, California

Florence, Arizona

Milan, New Mexico

Cushing, Oklahoma

Nicholls, Georgia

Shelby, Montana

Olney Springs, Colorado

Holdenville, Oklahoma

Washington, D.C.

Watonga, Oklahoma

Eden, Texas

Eloy, Arizona

Florence, Arizona

Houston, Texas

Walsenburg, Colorado

Millen, Georgia

Burlington, Colorado

Conneaut, Ohio

Eloy, Arizona

Laredo, Texas

Leavenworth, Kansas

Beattyville, Kentucky

Live Oak, California

St. Mary, Kentucky

McRae, Georgia

Mineral Wells, Texas

Pahrump, Nevada

Grants, New Mexico

Sayre, Oklahoma

Youngstown, Ohio

Wheelwright, Kentucky

Appleton, Minnesota

Cincinnati, Ohio

Eloy, Arizona

San Diego, California

Memphis, Tennessee

Lumpkin, Georgia

Tutwiler, Mississippi

Taylor, Texas

Estancia, New Mexico

Laredo, Texas

Mason, Tennessee

Alamo, Georgia

Whiteville, Tennessee

Land, Initial Cost to Company

$ 58,775

$ 874

$ 550

$ 70

$ 800

$ 1,785

$ 1,298

$ 444

$ 250

$ 194

$ 413

$ 211

$ 250

$ 208

$ 925

$ 498

$ 2,250

$ 124

$ 208

$ 432

$ 2,871

$ 283

$ 788

$ 130

$ 500

$ 250

$ 462

$ 176

$ 7,548

$ 142

$ 750

$ 500

$ 100

$ 750

$ 10

$ 193

$ 28,845

$ 150

$ 143

$ 183

$ 511

$ 498

$ 538

$ 117

$ 303

Buildings and Improvements, Initial Cost to Company

2,171,312

119,565

13,115

291

11,440

125,337

57,857

16,215

71,303

28,361

33,196

46,845

66,701

41,677

27,645

33,308

75,674

53,373

26,358

48,158

35,980

69,779

183,155

26,737

44,970

515

4,774

9,994

60,396

22,589

64,362

15,888

42,166

39,583

24,487

22,306

15,221

78,456

98,903

92,458

6,393

70,560

44,638

13,418

52,599

20,160

31,931

30,781

51,694

Cost Capitalized Subsequent to Acquisition

885,268

2,783

66,495

588

4,357

30,571

29,130

42,349

44,911

6,700

27,133

40,096

5,998

22,544

33,050

14,047

9,022

36,625

4,095

42,563

2,166

11,974

1,968

42,167

16,087

1,577

8,277

17,295

4,877

9,238

13,770

58,453

7,803

11,319

8,307

1,586

20,106

316

10,325

3,076

9,192

94,046

4,018

7,392

5,792

5,605

41,426

3,991

Land and Land Improvements, Gross Amount

100,295

1,075

1,212

209

830

2,484

2,767

1,319

570

853

867

1,890

872

567

5,279

1,851

719

3,143

984

237

863

3,669

470

929

464

1,214

250

915

954

100

8,330

807

291

1,675

1,447

1,065

340

255

385

37,148

275

716

1,536

591

1,704

2,101

2,008

423

1,571

Buildings and Leasehold Improvements, Gross Amount

2,970,799

122,147

78,948

740

11,435

128,995

86,959

44,470

113,332

72,613

39,442

72,299

106,175

5,927

63,862

56,341

46,002

83,977

89,105

29,593

48,166

78,112

71,147

194,942

28,564

86,803

15,888

6,351

17,606

77,199

72,818

28,993

100,328

46,461

34,859

29,648

498

98,317

99,027

94,480

9,344

79,179

137,148

17,028

58,798

24,349

36,066

71,901

54,417

Total Gross Amount

3,071,094

3,078,902

3,049,672

2,972,528

123,222

80,160

949

12,265

131,479

89,726

45,789

113,902

73,466

40,309

74,189

107,047

5,998

64,429

61,620

47,853

84,696

92,248

30,577

48,403

78,975

74,816

195,412

29,493

87,267

17,102

6,601

18,521

78,153

100

^[1]

81,148

29,800

100,619

48,136

36,306

30,713

838

^[1]

98,572

99,412

131,628

9,619

79,895

138,684

17,619

60,502

26,450

38,074

72,324

55,988

Accumulated Depreciation

$ (815,980)

^[2]

$ (755,761)

$ (680,965)

$ (607,771)

$ (15,038)

^[2]

$ (18,267)

^[2]

$ (473)

^[2]

$ (548)

^[2]

$ (39,548)

^[2]

$ (28,569)

^[2]

$ (14,953)

^[2]

$ (28,887)

^[2]

$ (17,302)

^[2]

$ (27,785)

^[2]

$ (17,856)

^[2]

$ (27,380)

^[2]

$ (3,777)

^[2]

$ (19,949)

^[2]

$ (17,707)

^[2]

$ (14,703)

^[2]

$ (25,169)

^[2]

$ (26,921)

^[2]

$ (11,544)

^[2]

$ (2,738)

^[2]

$ (17,602)

^[2]

$ (4,370)

^[2]

$ (26,757)

^[2]

$ (9,647)

^[2]

$ (23,115)

^[2]

$ (5,736)

^[2]

$ (2,418)

^[2]

$ (5,543)

^[2]

$ (15,956)

^[2]

$ (7,485)

^[2]

$ (10,638)

^[2]

$ (24,076)

^[2]

$ (15,613)

^[2]

$ (12,217)

^[2]

$ (11,966)

^[2]

$ (16,447)

^[2]

$ (15,174)

^[2]

$ (89,758)

^[2]

$ (9,263)

^[2]

$ (15,177)

^[2]

$ (34,949)

^[2]

$ (6,118)

^[2]

$ (19,667)

^[2]

$ (8,570)

^[2]

$ (13,405)

^[2]

$ (17,155)

^[2]

$ (18,044)

^[2]

Constructed/Acquired Date

2008

1992

1995

2013

1999

1994

1997

1998

1999

2003

1996

1997

1998

1995

1999

1984

1997

2012

1998

2011

2008

1985

1992

1998

1989

1998

2000

1995

2010

1989

1998

1997

1998

1991

1998

2006

2007

1999

1986

2004

2000

1997

1990

1998

1990

1998

[1]	CCA recorded non-cash impairments during the fourth quarter of 2014 to write down the book values of the Queensgate and Mineral Wells facilities to the estimated fair values assuming asset sales for uses other than correctional facilities.
[2]	Depreciation is calculated using estimated useful lives of depreciable assets up to 50 years for prison facilities.

Schedule III - Real Estate and Accumulated Depreciation (Parenthetical) (Detail) (Maximum)	12 Months Ended
	Dec. 31, 2014
Maximum
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Prison facilities, estimated useful lives of depreciable assets	50 years

Schedule III - Real Estate and Accumulated Depreciation Summary of Transactions (Detail) (USD $)
In Thousands, unless otherwise specified

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]

Investment in Real Estate, balance at beginning of period

$ 3,078,902

$ 3,049,672

$ 2,972,528

Additions through capital expenditures

45,929

30,376

77,233

Sale of real estate for cash

(4,368)

(554)

(81)

Reclassifications and other

(49,247)

(122)

(592)

(8)

Investment in Real Estate, balance at end of period

3,071,094

3,078,902

3,049,672

Accumulated Depreciation, balance at beginning of period

(755,761)

(680,965)

(607,771)

Depreciation

(79,745)

(75,069)

(73,260)

Disposals

118

273