CoreCivic : 3rd Quarter 2020 Supplemental Disclosure Information

Supplemental Financial Information

For the Quarter Ended September 30, 2020

The Company's supplemental financial information and other data presented herein speaks only as of the date or period indicated (or as of the date posted, as the case may be), and the Company does not undertake any obligation, and disclaims any duty, to update any of this information. The Company's future financial performance is subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect the Company's future financial results are discussed more fully in our reports filed with the SEC. Readers are advised to refer to these reports for additional information concerning the Company. Readers are also advised that the Company's historical performance may not be indicative of future results. In addition, the information contained herein does not constitute an offer to sell or a solicitation to buy any of the Company's securities.

CoreCivic, Inc.

Supplemental Financial Information

For the Quarter Ended September 30, 2020

TABLE OF CONTENTS
Financial Highlights & 2020 Guidance Summary	1
Consolidated Balance Sheets	2
Consolidated Statements of Operations	3
Reconciliation of Basic to Diluted Earnings Per Share	4
Calculation of Adjusted Diluted Earnings Per Share	5
Funds From Operations	6
Selected Financial Information	7
Segment Data	9
Analysis of Outstanding Debt	10
Selected Operating Ratios	11
Partner Information	12
Facility Portfolio	13

Damon T. Hininger, President and Chief Executive Officer

David M. Garfinkle, Chief Financial Officer

5501 Virginia Way

Brentwood, TN 37027

Tel.: [phone] Fax: [phone]

FINANCIAL HIGHLIGHTS

1 of 23

(Unaudited and amounts in thousands, except per share amounts)

	For the Three Months Ended	For the Nine Months Ended
		September 30,		September 30,
		2020		2019		2020		2019
Adjusted Diluted EPS	$	0.28	$	0.47	$	0.92	$	1.36
Normalized FFO Per Share	$	0.52	$	0.70	$	1.62	$	2.03
AFFO Per Share	$	0.49	$	0.70	$	1.65	$	2.00
Debt Leverage		4.2x		3.4x		3.9x		3.5x
Fixed Charge Coverage Ratio		3.7x		5.1x		3.8x		5.2x

FINANCIAL GUIDANCE

On April 1, 2020, we withdrew our financial guidance because of uncertainties associated with COVID-19, and do not expect to provide financial guidance until we have further clarity around the uncertainties which continue to exist. Please see our Form 10-Q for the quarter ended September 30, 2020 for risks and uncertainties associated with COVID-19. Our business is very durable, and continues to generate cash flow even during these unprecedented disruptions to the economy and criminal justice system. This resiliency is due to the essential nature of our facilities and services in our Safety and Community segments, further enhanced by the diversification and stability of our Properties segment, all supported by payments from highly rated federal, state, and local government agencies.

	CONSOLIDATED BALANCE SHEETS								2 of 23
	(Unaudited and amounts in thousands, except per share amounts)
			September 30,			June 30,		March 31,		December 31,		September 30,
				2020			2020			2020			2019			2019
ASSETS
Cash and cash equivalents		$	282,462	$	363,772		$	335,491	$	92,120	$	47,537
Restricted cash				11,227			18,968			16,850			26,973			25,541
Accounts receivable, net of allowance				264,745			246,114			272,598			280,785			271,594
Prepaid expenses and other current assets				35,553			39,552			34,962			35,507			35,973
Total current assets				593,987			668,406			659,901			435,385			380,645
Real estate and related assets:
Property and equipment, net				2,703,475			2,725,179			2,758,682			2,700,107			2,836,841
Other real estate assets				230,067			232,750			235,691			238,637			239,149
Goodwill				48,569			48,569			50,537			50,537			48,169
Non-current deferred tax assets				11,583			14,475			13,663			16,058			18,951
Other assets				453,522			350,363			360,325			350,907			225,090
Total assets	$	4,041,203	$	4,039,742		$	4,078,799	$	3,791,631	$	3,748,845
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable and accrued expenses		$	278,732	$	256,708		$	318,365	$	337,462	$	372,411
Current portion of long-term debt, net				38,644			37,239			34,891			31,349			342,391
Total current liabilities				317,376			293,947			353,256			368,811			714,802
Long-term debt, net				2,043,692			2,227,319			2,236,427			1,928,023			1,521,785
Deferred revenue				13,741			5,653			9,061			12,469			15,877
Other liabilities				230,402			107,642			101,379			105,579			113,180
Total liabilities				2,605,211			2,634,561			2,700,123			2,414,882			2,365,644
Commitments and contingencies
Common stock - $0.01 par value				1,196			1,196			1,196			1,191			1,191
Additional paid-in capital				1,831,241			1,827,174			1,822,855			1,821,810			1,817,258
Accumulated deficit				(419,716)			(446,460)			(468,646)			(446,252)			(435,248)
Total stockholders' equity				1,412,721			1,381,910			1,355,405			1,376,749			1,383,201
Non-controlling interest - operating partnership				23,271			23,271			23,271			-			-
Total equity				1,435,992			1,405,181			1,378,676			1,376,749			1,383,201
Total liabilities and equity			$	4,041,203		$	4,039,742		$	4,078,799		$	3,791,631		$	3,748,845