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Condensed Consolidated Statements of Income - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Parking services revenue        
Lease contracts $ 140.9 $ 136.1 $ 422.6 $ 410.3
Management contracts 86.7 84.1 262.8 262.0
Total parking services revenue 227.6 220.2 685.4 672.3
Reimbursed management contract revenue 165.1 177.0 512.7 501.8
Total parking services revenue 392.7 397.2 1,198.1 1,174.1
Cost of parking services        
Lease contracts 131.0 125.8 387.0 380.4
Management contracts 50.7 50.5 154.5 162.6
Total cost of parking services, gross 181.7 176.3 541.5 543.0
Reimbursed management contract expense 165.1 177.0 512.7 501.8
Total cost of parking services 346.8 353.3 1,054.2 1,044.8
Gross profit        
Lease contracts 9.9 10.3 35.6 29.9
Management contracts 36.0 33.6 108.3 99.4
Total gross profit 45.9 43.9 143.9 129.3
General and administrative expenses 19.6 20.3 63.3 67.0
Depreciation and amortization 4.9 7.8 16.3 26.8
Operating income 21.4 15.8 64.3 35.5
Other expenses (income)        
Interest expense 2.2 2.7 7.1 8.1
Interest income (0.2) (0.1) (0.5) (0.4)
Gain on sale of business 0.0 0.0 (0.1) 0.0
Equity in losses from investment in unconsolidated entity 0.1 0.4 0.5 1.2
Total other expenses (income) 2.1 3.0 7.0 8.9
Earnings before income taxes 19.3 12.8 57.3 26.6
Income tax expense 7.3 5.1 21.3 10.9
Net income 12.0 7.7 36.0 15.7
Less: Net income attributable to noncontrolling interest 0.8 0.7 2.6 2.2
Net income attributable to SP Plus Corporation $ 11.2 $ 7.0 $ 33.4 $ 13.5
Net income per common share        
Basic (in dollars per share) $ 0.51 $ 0.31 $ 1.51 $ 0.60
Diluted (in dollars per share) $ 0.50 $ 0.31 $ 1.48 $ 0.60
Weighted average shares outstanding        
Basic (in shares) 22,203,023 22,208,139 22,186,556 22,293,776
Diluted (in shares) 22,523,036 22,497,111 22,501,378 22,571,933