Net Income Per Common Share

12 Months Ended

Dec. 31, 2014

Net Income Per Common Share

Net Income Per Common Share

3. Net Income Per Common Share

        Basic net income per common share is computed by dividing net income attributable to SP Plus Corporation by the weighted average number of shares of common stock outstanding during the period. Diluted net income per common share is based upon the weighted average number of shares of common stock outstanding at period end, consisting of incremental shares assumed to be issued upon exercise of stock options and the incremental shares assumed to be issued under performance share and restricted stock unit arrangements, using the treasury-stock method.

        A reconciliation of the basic weighted average common shares outstanding to diluted weighted average common shares outstanding is as follows:

	Year Ended December 31,
	2014		2013		2012
	(In thousands except for share and per share data)
Net income attributable to SP Plus Corporation	$	23,098	$	12,089	$	1,340
Basic weighted average common shares outstanding		22,009,800		21,902,870		17,179,606
Dilutive impact of share-based awards		397,543		346,714		310,598
Diluted weighted average common shares outstanding		22,407,343		22,249,584		17,490,204
Net income per common share:
Basic	$	1.05	$	0.55	$	0.08
Diluted	$	1.03	$	0.54	$	0.08

        For the year ended December 31, 2014 performance-based stock units were excluded in the computation of weighted average diluted common share outstanding because the number of shares ultimately issuable is contingent on the Company's performance goals, which were not achieved as of the reporting date. There was no performance-based incentive program in place during 2013 and 2012.

        There are 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.