We remain optimistic about operating trends going forward and view recent CXW initiatives as positives. For example, CXW authorized an increase to its existing share repurchase plan from up to $500m to up to $700m. To enhance financial flexibility & increase liquidity, CXW also amended its credit agreement to increase the size of the revolving credit facility to $575m. As of January 2026, CXW had additional borrowing capacity of $391.4m following the amendment, including outstanding letters of credit. The company's 2.5x, CXW's TTM Debt leverage ratio at the end of 3Q25 is at the low end of its target range and CXW generates strong cash flow.
