We are optimistic about operating improvements going forward and expect occupancies at CXW facilities to continue to increase as ICE & multiple government entities seek capacity. CXW also continues to strengthen its balance sheet, with a 1Q24 debt offering concurrent with a tender offer for 2026 8.25% notes. As a result, the company pushed debt maturities out roughly three years & has no major debt maturities before 2029 other than some $262M 4.75% notes that mature in 2027. Reflecting debt reductions over the past several quarters, interest expense was $55.3M in 2023, down from $65.4M in 2022.
