Net Income per Common Share

9 Months Ended

Sep. 30, 2022

11. Net Income per Common Share

Basic net income per share is computed by dividing net income by the weighted daily average number of shares of common stock outstanding during the period. Diluted net income per share is based upon the weighted daily average number of shares of common stock outstanding for the period plus all potentially dilutive stock-based awards, including restricted stock and performance share units, using the treasury-stock method. Unvested performance share units are excluded from the computation of weighted average diluted common shares outstanding if the performance targets upon which the issuance of the shares is contingent have not been achieved and the respective performance period has not been completed as of the end of the period. In periods where the Company has a net loss, stock-based awards are excluded from the calculation of net income per diluted common share, as their inclusion would be anti-dilutive.

Basic and diluted net income per common share and a reconciliation of the weighted average basic common shares outstanding to the weighted average diluted common shares outstanding during the three and nine months ended September 30, 2022 and 2021 (unaudited) was as follows:


	Three Months Ended				Nine Months Ended
(millions, except share and per share data)	September 30, 2022		September 30, 2021		September 30, 2022		September 30, 2021
Net income attributable to SP Plus Corporation	$	14.3	$	11.5	$	40.4	$	22.8
Basic weighted average common shares outstanding		20,744,813		21,184,583		21,054,095		21,158,667
Dilutive impact of share-based awards		232,854		215,803		169,887		206,615
Diluted weighted average common shares outstanding		20,977,667		21,400,386		21,223,982		21,365,282
Net income per common share
Basic	$	0.69	$	0.54	$	1.92	$	1.08
Diluted	$	0.68	$	0.54	$	1.90	$	1.07

There were no additional securities that could dilute basic earnings per share in the future that were not included in the computation of diluted earnings per share, other than those disclosed.