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Unaudited Quarterly Results (Tables)
12 Months Ended
Dec. 31, 2013
Unaudited Quarterly Results  
Schedule of unaudited quarterly results
 
  2013 Quarters Ended   2012 Quarters Ended  
 
  March 31   June 30   September 30   December 31   March 31   June 30   September 30   December 31(1)  
 
  (Unaudited)
  (Unaudited)
 

Parking services revenue:

                                                 

Lease contracts

  $ 121,085   $ 123,232   $ 122,771   $ 122,487   $ 37,544   $ 42,414   $ 42,969   $ 127,428  

Management contracts

    90,095     88,659     77,681     90,911     47,964     44,372     49,226     88,939  

Reimbursed management contract revenue

    159,477     158,402     154,858     157,141     103,937     104,160     100,958     164,027  
                                   

Total revenue

    370,657     370,293     355,310     370,539     189,445     190,946     193,153     380,394  

Cost of parking services:

                                                 

Lease contracts

    112.118     112,014     115,696     116,262     35,387     38,000     40,108     118,286  

Management contracts

    58,737     53,833     44,680     51,480     29,271     24,071     30,713     57,894  

Reimbursed management contract revenue

    159,477     158,402     154,858     157,141     103,937     104,160     100,958     164,027  
                                   

Total cost of parking services

    330,332     324,249     315,234     324,883     168,595     166,231     171,779     340,207  

Gross profit:

                                                 

Lease contracts

    8,967     11,218     7,075     6,225     2,157     4,414     2,861     9,142  

Management contracts

    31,358     34,826     33,001     39,431     18,693     20,301     18,513     31,045  
                                   

Total gross profit

    40,325     46,044     40,076     45,656     20,850     24,715     21,374     40,187  

General and administrative expenses

    27,948     26,868     20,494     23,621     15,045     14,868     13,846     42,781  

Depreciation and amortization

    7,493     8.252     7,959     7,489     1,728     1,807     1,723     8,255  
                                   

Operating income

    4,884     10,924     11,623     14,546     4,077     8,040     5,805     (10,849 )

Other expense (income):

                                                 

Interest expense

    4,840     4,763     4,818     4,613     1,130     1,132     1,093     5,261  

Interest income

    (111 )   (128 )   (108 )   (296 )   (70 )   (50 )   (61 )   (116 )

Total other expenses (income)

    4,729     4,635     4,710     4,317     1,060     1,082     1,032     5,145  

Income before income taxes

    155     6,289     6,913     10,229     3,017     6,958     4,773     (15,994 )

Income tax expense (reversal)

    (154 )   2,065     2,448     4,462     1,215     2,801     2,504     (10,140 )
                                   

Net income (loss)

    309     4,224     4,465     5,767     1,802     4,157     2,269     (5,854 )

Less: Net income (loss) attributable to noncontrolling interest

    569     780     721     606     72     85     75     802  
                                   

Net income attributable to SP Plus Corporation

  $ (260 ) $ 3,444   $ 3,744   $ 5,161   $ 1,730   $ 4,072   $ 2,194   $ (6,656 )
                                   
                                   

Common stock data:

                                                 

Common stock data:

                                                 

Net income per common share:

                                                 

Basic

  $ (0.01 ) $ 0.16   $ 0.17   $ 0.24   $ 0.11   $ 0.26   $ 0.14   $ (0.30 )

Diluted

  $ (0.01 ) $ 0.15   $ 0.17   $ 0.23   $ 0.11   $ 0.26   $ 0.14   $ (0.30 )

Weighted average shares outstanding:

                                                 

Basic(2)

    21,870.771     21,889.777     21,911.574     21,938,377     15,563,914     15,665,263     15,668,129     21,836,583  

Diluted(2)

    21,870.771     22,221.102     22,285.723     22,319,723     15,820,118     15,900,659     15,928,685     21,836,583  

(1)
The Company began including Central operations within its consolidated operating results on October 2, 2012, the date of the Central Merger.

(2)
On October 2, 2012, and in conjunction with the Central Merger the Company issued 6,161,332 shares of common stock.