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Condensed Consolidated Statements of Income - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Services revenue $ 460.7 $ 404.4 $ 1,328.2 $ 1,135.2
Cost of services (exclusive of depreciation and amortization) 393.1 346.2 1,136.4 966.8
General and administrative expenses 37.6 27.2 100.0 78.4
Depreciation and amortization 9.0 7.2 26.2 20.5
Operating income 21.0 23.8 65.6 69.5
Other expense (income)        
Interest expense 7.4 3.9 21.5 12.2
Interest income   (0.1) (0.2) (0.4)
Total other expenses 7.4 3.8 21.3 11.8
Earnings before income taxes 13.6 20.0 44.3 57.7
Income tax expense 3.5 4.9 11.6 15.0
Net income 10.1 15.1 32.7 42.7
Less: Net income attributable to noncontrolling interests 0.9 0.8 2.8 2.3
Net income attributable to SP Plus Corporation $ 9.2 $ 14.3 $ 29.9 $ 40.4
Net income per common share        
Basic (in dollars per share) $ 0.47 $ 0.69 $ 1.52 $ 1.92
Diluted (in dollars per share) $ 0.46 $ 0.68 $ 1.5 $ 1.90
Weighted average shares outstanding        
Basic (in shares) 19,649,611 20,744,813 19,660,930 21,054,095
Diluted (in shares) 19,910,308 20,977,667 19,874,165 21,223,982
Lease and Management Type Contracts        
Services revenue $ 228.4 $ 207.1 $ 666.0 $ 588.0
Cost of services (exclusive of depreciation and amortization) 160.8 148.9 474.2 419.6
Management Type Contracts        
Services revenue 153.5 134.9 446.6 382.6
Cost of services (exclusive of depreciation and amortization) 99.9 89.9 295.8 252.7
Lease Type Contracts        
Services revenue 74.9 72.2 219.4 205.4
Cost of services (exclusive of depreciation and amortization) 60.9 59.0 178.4 166.9
Reimbursed Management Type Contract Revenue        
Services revenue 232.3 197.3 662.2 547.2
Cost of services (exclusive of depreciation and amortization) $ 232.3 $ 197.3 $ 662.2 $ 547.2