Net Income per Common Share

9 Months Ended

Sep. 30, 2023

11. Net Income per Common Share

Basic net income per common 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 common share is based upon the weighted daily average number of shares of common stock outstanding during 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.

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, 2023 and 2022 (unaudited) was as follows:


	Three Months Ended				Nine Months Ended
(millions, except share and per share data)	September 30, 2023		September 30, 2022		September 30, 2023		September 30, 2022
Net income attributable to SP Plus Corporation	$	9.2	$	14.3	$	29.9	$	40.4
Basic weighted average common shares outstanding		19,649,611		20,744,813		19,660,930		21,054,095
Dilutive impact of share-based awards		260,697		232,854		213,235		169,887
Diluted weighted average common shares outstanding		19,910,308		20,977,667		19,874,165		21,223,982
Net income per common share
Basic	$	0.47	$	0.69	$	1.52	$	1.92
Diluted	$	0.46	$	0.68	$	1.50	$	1.90

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 common share, other than those disclosed.