CoreCivic Investor Presentation Q4 2020
.
Extensive History of Durable Earnings and Cash Flows
Long term stable cash flows from government partners due to essential, mission
critical infrastructure and valued services
ADJUSTED EBITDA ($MM)1
$441
$444
$427
-
40 year track record of providing government solutions with significant
pipeline for growth across the Safety, Properties and Community segments
$415
$423
$418
$398
$381
$386
$388
$396
$405
-
Strong fundamental demand from investment grade federal and state
partners; 99% of EBITDA comes from partners rated AA - or better
25%
25%
25%
24%
23%
23%
23%
22%
22%
22%
22%
21%
-
95% retention rate in long-dated contracts with average tenure of 25 years
for top ten customers
Largest private owner of real estate utilized by government agencies with nearly
18 million square feet of real estate
NET INCOME ($MM)²
$301
$222 $220
$195
$189
$178
$155 $157
$163
$157
$159
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
EBITDA Margin
Prior C-Corp Era ■REIT Era
STOCK BUYBACKS, DIVIDENDS AND LEVERAGE ($MM)
$237
$164
Since 2009, CXW has delivered
$2.2bn in buybacks and dividends
which represents >200% of the
$251
$256
current market cap³
$234
$200
$204
$210
$146
4.0x
3.7x
3.7x
3.6x
3.5x
3.4x
$108
3.2x
3.1x
2.8x
2.7x
2.8x
2.6x
$106
$54
$60
2009
2010
2011
2012
2013
2014
2015
Prior C-Corp Era
2016
■REIT Era
2017
2018
2019
2020
Source:
Note:
1.
2.
3.
Company Management
2009
2010
2011
2012
2013
2014
2015
Prior C-Corp Era Buybacks
Prior C-Corp Era Dividend
2016
REIT Era Dividend
2017
2018
2019
2020
-Total Leverage Ratio
Total leverage ratio calculated using total net debt excluding non-recourse debt; EBITDA adjusted for unrestricted subsidiaries
For reconciliation of the non-GAAP figures, Adjusted EBITDA to Net Income, the most directly comparable GAAP measure, see the Appendix to this presentation
2013 Net Income includes $138mm income tax benefit for reversal of deferred taxes due to REIT conversion. 2020 Net Income includes $74mm in non-cash impairment charges and losses on sale or real estate asset.
Market cap as of 2/17/2021
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