What is the average accounts payable. THE GEO GROUP, INC. CONSOLIDATED BALANCE S
ID: 2527104 • Letter: W
Question
What is the average accounts payable.
THE GEO GROUP, INC.
CONSOLIDATED BALANCE SHEETS
December 31, 2017 and December 31, 2016
2017
2016
(In thousands, except
share data)
ASSETS
Current Assets
Cash and cash equivalents
$
81,377
$
68,038
Restricted cash and investments
44,932
17,133
Accounts receivable, less allowance for doubtful accounts of $4,574 and $3,664, respectively
389,916
356,255
Contract receivable, current portion
18,142
224,033
Prepaid expenses and other current assets
45,342
32,210
Total current assets
579,709
697,669
Restricted Cash and Investments
27,999
20,848
Property and Equipment, Net
2,078,123
1,897,241
Non-Current Contract Receivable
404,309
219,783
Assets Held for Sale
3,915
—
Deferred Income Tax Assets
26,277
30,039
Goodwill
778,951
615,433
Intangible Assets, Net
255,339
203,884
Other Non-Current Assets
72,286
64,512
Total Assets
$
4,226,908
$
3,749,409
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities
Accounts payable
$
92,587
$
79,637
Accrued payroll and related taxes
71,732
55,260
Accrued expenses and other current liabilities
176,324
131,096
Current portion of capital lease obligations, long-term debt and non-recourse debt
28,920
238,065
Total current liabilities
369,563
504,058
Non-Current Deferred Income Tax Liabilities
8,757
—
Other Non-Current Liabilities
96,702
88,656
Capital Lease Obligations
6,059
7,431
Long-Term Debt
2,181,544
1,935,465
Non-Recourse Debt
365,364
238,842
Commitments and Contingencies (Note 17)
Shareholders’ Equity
Preferred stock, $0.01 par value, 30,000,000 shares authorized, none issued or outstanding
—
—
Common stock, $0.01 par value, 187,500,000 shares authorized, 124,008,303 and 112,547,544 issued and outstanding, respectively
1,240
1,125
Additional paid-in capital
1,190,906
891,993
Earnings in excess of distributions
31,541
112,763
Accumulated other comprehensive loss
(24,446
)
(30,825
)
Total shareholders’ equity attributable to The GEO Group, Inc.
1,199,241
975,056
Noncontrolling interests
(322
)
(99
)
Total shareholders’ equity
1,198,919
974,957
Total Liabilities and Shareholders’ Equity
$
4,226,908
$
3,749,409
THE GEO GROUP, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
Years Ended December 31, 2017, 2016 and 2015
2017
2016
2015
(In thousands, except per share data)
Revenues
$
2,263,420
$
2,179,490
$
1,843,307
Operating Expenses (excluding depreciation and amortization)
1,700,495
1,650,281
1,363,782
Depreciation and Amortization
124,297
114,916
106,756
General and Administrative Expenses
190,343
148,709
137,040
Operating Income
248,285
265,584
235,729
Interest Income
51,676
28,496
11,578
Interest Expense
(148,024
)
(128,718
)
(106,136
)
Loss on Extinguishment of Debt
—
(15,885
)
—
Income Before Income Taxes and Equity in Earnings of Affiliates
151,937
149,477
141,171
Provision for Income Taxes
17,958
7,904
7,389
Equity in Earnings of Affiliates, net of income tax (benefit) provision of $(3,699), $2,341 and $2,038
12,045
6,925
5,533
Net Income
146,024
148,498
139,315
Loss Attributable to Noncontrolling Interests
217
217
123
Net Income Attributable to The GEO Group, Inc.
$
146,241
$
148,715
$
139,438
Weighted Average Common Shares Outstanding:
Basic
120,095
111,065
110,544
Diluted
120,814
111,485
110,993
Income per Common Share Attributable to The GEO Group, Inc.:
Basic:
Net income per share — basic
$
1.22
$
1.34
$
1.26
Diluted:
Net income per share — diluted
$
1.21
$
1.33
$
1.25
Dividends declared per share
$
1.88
$
1.73
$
1.67
2017
2016
(In thousands, except
share data)
ASSETS
Current Assets
Cash and cash equivalents
$
81,377
$
68,038
Restricted cash and investments
44,932
17,133
Accounts receivable, less allowance for doubtful accounts of $4,574 and $3,664, respectively
389,916
356,255
Contract receivable, current portion
18,142
224,033
Prepaid expenses and other current assets
45,342
32,210
Total current assets
579,709
697,669
Restricted Cash and Investments
27,999
20,848
Property and Equipment, Net
2,078,123
1,897,241
Non-Current Contract Receivable
404,309
219,783
Assets Held for Sale
3,915
—
Deferred Income Tax Assets
26,277
30,039
Goodwill
778,951
615,433
Intangible Assets, Net
255,339
203,884
Other Non-Current Assets
72,286
64,512
Total Assets
$
4,226,908
$
3,749,409
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities
Accounts payable
$
92,587
$
79,637
Accrued payroll and related taxes
71,732
55,260
Accrued expenses and other current liabilities
176,324
131,096
Current portion of capital lease obligations, long-term debt and non-recourse debt
28,920
238,065
Total current liabilities
369,563
504,058
Non-Current Deferred Income Tax Liabilities
8,757
—
Other Non-Current Liabilities
96,702
88,656
Capital Lease Obligations
6,059
7,431
Long-Term Debt
2,181,544
1,935,465
Non-Recourse Debt
365,364
238,842
Commitments and Contingencies (Note 17)
Shareholders’ Equity
Preferred stock, $0.01 par value, 30,000,000 shares authorized, none issued or outstanding
—
—
Common stock, $0.01 par value, 187,500,000 shares authorized, 124,008,303 and 112,547,544 issued and outstanding, respectively
1,240
1,125
Additional paid-in capital
1,190,906
891,993
Earnings in excess of distributions
31,541
112,763
Accumulated other comprehensive loss
(24,446
)
(30,825
)
Total shareholders’ equity attributable to The GEO Group, Inc.
1,199,241
975,056
Noncontrolling interests
(322
)
(99
)
Total shareholders’ equity
1,198,919
974,957
Total Liabilities and Shareholders’ Equity
$
4,226,908
$
3,749,409
Explanation / Answer
Average accounts payable = (Accounts payable bal. at Dec. 31, 2017 +Accounts payable bal. at Dec. 31, 2017) / 2
= (92,587 thousand +$79,637 thousand )/2
= $86,112 thousand
Hence, the average accounts payable is $86,112,000.
Hint: Accounts payable is reported in the liabilities section of consolidated balance sheet.
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