NPR reports that CoreCivic made net proceeds of $1.6 billion from selling four of its facilities to the US Department of Homeland Security. NPR framed the sale against a backdrop of rising immigration detention numbers.
Key facts
- CoreCivic made net proceeds of $1.6 billion from a facility sale, according to NPR.
- The sale involved four CoreCivic facilities sold to the Department of Homeland Security.
- NPR reported the developments against a backdrop of climbing immigration detentions.
- The $1.6 billion figure represents net proceeds separate from operating revenue, per NPR.
CoreCivic reported net proceeds of $1.6 billion following the recent sale of four of its facilities to the US Department of Homeland Security, according to NPR. The report connects the transaction to a period of rising immigration detention numbers.
NPR described the $1.6 billion as net proceeds from the facility sale, a figure it presented separately from the company’s operating revenue.
NPR framed these developments against the backdrop of increasing immigration detentions. Further details on the terms of the sale and the wider financial picture of the private detention sector were not specified in the material available for this report.
Why it matters
The sale illustrates the financial relationship between private detention operators and federal immigration authorities at a time of rising detention numbers, according to NPR's reporting.
Frequently asked questions
How much revenue did private prison firms report?
According to NPR, private prison companies announced $1.4 billion in revenue as immigration detentions climb.
What did CoreCivic earn from selling facilities?
CoreCivic reported net proceeds of $1.6 billion after selling four of its facilities to the Department of Homeland Security, according to NPR. This amount is separate from the $1.4 billion revenue figure.
Who bought CoreCivic's facilities?
The Department of Homeland Security purchased four CoreCivic facilities, according to NPR.