XML 77 R65.htm IDEA: XBRL DOCUMENT v3.7.0.1
Business Unit Segment Information - Schedule of Revenues and Gross Profit by Regions (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Parking Services Revenue        
Lease contracts $ 150.9 $ 135.7 $ 281.7 $ 274.2
Management contracts 84.0 86.7 176.1 177.9
Total parking services revenue 234.9 222.4 457.8 452.1
Reimbursed management contract revenue 180.5 180.2 372.1 348.1
Total parking services revenue 415.4 402.6 829.9 800.2
Gross Profit        
Lease contracts 20.7 11.7 25.7 19.6
Management contracts 36.8 35.3 72.3 65.8
Total gross profit 57.5 47.0 98.0 85.4
Gross Margin        
General and administrative expenses $ 22.5 $ 22.1 $ 43.7 $ 46.7
General and administrative expense percentage of gross profit 39.00% 47.00% 45.00% 55.00%
Depreciation and amortization $ 4.8 $ 9.8 $ 11.4 $ 19.0
Operating income 30.2 15.1 42.9 19.7
Other expenses (income)        
Interest expense 2.3 2.6 4.9 5.4
Interest income (0.2) (0.1) (0.3) (0.3)
Equity in losses from investment in unconsolidated entity 0.2 0.3 0.4 0.8
Total other expenses (income) 2.2 2.8 4.9 5.9
Earnings before income taxes 28.0 12.3 38.0 13.8
Income tax expense 10.7 4.9 14.0 5.8
Net income 17.3 7.4 24.0 8.0
Less: Net income attributable to noncontrolling interest 1.1 0.9 1.8 1.5
Net income attributable to SP Plus Corporation 16.2 6.5 22.2 6.5
Operating segment | Region One        
Parking Services Revenue        
Lease contracts 117.4 103.9 217.1 211.8
Management contracts 59.3 60.0 127.6 124.5
Total parking services revenue 176.7 163.9 344.7 336.3
Gross Profit        
Lease contracts 17.9 9.9 21.1 16.5
Management contracts 24.6 24.1 49.5 46.4
Total gross profit $ 42.5 $ 34.0 $ 70.6 $ 62.9
Gross Margin        
Lease contracts (as a percent) 15.00% 10.00% 10.00% 8.00%
Management contracts (as a percent) 41.00% 40.00% 39.00% 37.00%
Operating segment | Region Two        
Parking Services Revenue        
Lease contracts $ 33.5 $ 31.9 $ 64.6 $ 62.4
Management contracts 22.6 24.3 44.2 48.4
Total parking services revenue 56.1 56.2 108.8 110.8
Gross Profit        
Lease contracts 2.0 1.8 3.3 2.5
Management contracts 7.2 7.4 13.3 11.7
Total gross profit $ 9.2 $ 9.2 $ 16.6 $ 14.2
Gross Margin        
Lease contracts (as a percent) 6.00% 6.00% 5.00% 4.00%
Management contracts (as a percent) 32.00% 30.00% 30.00% 24.00%
Corporate, Non-Segment        
Parking Services Revenue        
Lease contracts $ 0.0 $ (0.1) $ 0.0 $ 0.0
Management contracts 2.1 2.4 4.3 5.0
Total parking services revenue 2.1 2.3 4.3 5.0
Gross Profit        
Lease contracts 0.8 0.0 1.3 0.6
Management contracts 5.0 3.8 9.5 7.7
Total gross profit $ 5.8 $ 3.8 $ 10.8 $ 8.3
Gross Margin        
Lease contracts (as a percent) 0.00% 0.00% 0.00% 0.00%
Management contracts (as a percent) 238.00% 158.00% 221.00% 154.00%