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Condensed Consolidated Statements of Income - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Parking services revenue        
Lease contracts $ 136.1 $ 146.6 $ 410.3 $ 428.9
Management contracts 84.1 85.8 262.0 268.2
Total parking services revenue 220.2 232.4 672.3 697.1
Reimbursed management contract revenue 188.9 168.3 537.0 513.4
Total revenue 409.1 400.7 1,209.3 1,210.5
Cost of parking services        
Lease contracts 125.8 136.0 380.4 399.1
Management contracts 50.5 53.6 162.6 167.5
Total cost of parking services, gross 176.3 189.6 543.0 566.6
Reimbursed management contract expense 188.9 168.3 537.0 513.4
Total cost of parking services 365.2 357.9 1,080.0 1,080.0
Gross profit        
Lease contracts 10.3 10.6 29.9 29.8
Management contracts 33.6 32.2 99.4 100.7
Total gross profit 43.9 42.8 129.3 130.5
General and administrative expenses 20.3 23.7 67.0 74.2
Depreciation and amortization 7.8 8.3 26.8 24.4
Operating income 15.8 10.8 35.5 31.9
Other expenses (income)        
Interest expense 2.7 2.9 8.1 10.0
Interest income (0.1) 0.0 (0.4) (0.1)
Gain on a sale of business 0.0 (0.5) 0.0 (0.5)
Equity in losses from investment in unconsolidated entity 0.4 0.4 1.2 1.2
Total other expenses 3.0 2.8 8.9 10.6
Earnings before income taxes 12.8 8.0 26.6 21.3
Income tax expense 5.1 3.5 10.9 4.5
Net income 7.7 4.5 15.7 16.8
Less: Net income attributable to noncontrolling interest 0.7 0.8 2.2 2.0
Net income attributable to SP Plus Corporation $ 7.0 $ 3.7 $ 13.5 $ 14.8
Net income per share        
Basic (in dollars per share) $ 0.31 $ 0.17 $ 0.60 $ 0.67
Diluted (in dollars per share) $ 0.31 $ 0.16 $ 0.60 $ 0.66
Weighted average shares outstanding        
Basic (in shares) 22,208,139 22,205,707 22,293,776 22,159,701
Diluted (in shares) 22,497,111 22,548,166 22,571,933 22,519,818