XML 114 R98.htm IDEA: XBRL DOCUMENT v3.8.0.1
Domestic and Foreign Operations (Details)
$ in Millions
3 Months Ended 12 Months Ended
Dec. 31, 2017
USD ($)
Sep. 30, 2017
USD ($)
Jun. 30, 2017
USD ($)
Mar. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Sep. 30, 2016
USD ($)
Jun. 30, 2016
USD ($)
Mar. 31, 2016
USD ($)
Dec. 31, 2017
USD ($)
segment
Dec. 31, 2016
USD ($)
Dec. 31, 2015
USD ($)
Business Unit Segment Information                      
Number of operating segments | segment                 2    
Revenues:                      
Lease contracts $ 140.5 $ 140.9 $ 150.9 $ 130.8 $ 134.7 $ 136.1 $ 135.7 $ 138.5 $ 563.1 $ 545.0 $ 570.9
Management contracts 85.4 86.7 84.0 92.1 84.8 84.1 86.7 91.2 348.2 346.8 350.3
Total parking services revenue                 911.3 891.8 921.2
Reimbursed management contract revenue 166.5 165.1 168.6 179.0 174.8 177.0 168.1 156.7 679.2 676.6 650.6
Total parking services revenue 392.4 392.7 403.5 401.9 394.3 397.2 390.5 386.4 1,590.5 1,568.4 1,571.8
Gross Profit                      
Lease contracts 9.1 9.9 20.7 5.0 9.5 10.3 11.7 7.9 44.7 39.4 38.1
Management contracts 32.3 36.0 36.8 35.5 37.6 33.6 35.3 30.5 140.6 137.0 132.0
Total gross profit 41.4 45.9 57.5 40.5 47.1 43.9 47.0 38.4 185.3 176.4 170.1
Gross Margin                      
General and administrative expenses 19.6 19.6 22.5 21.2 23.0 20.3 22.1 24.6 $ 82.9 $ 90.0 $ 97.3
General and administrative expense percentage of gross profit                 45.00% 51.00% 57.00%
Depreciation and amortization 4.7 4.9 4.8 6.6 6.9 7.8 9.8 9.2 $ 21.0 $ 33.7 $ 34.0
Operating income 17.1 21.4 30.2 12.7 17.2 15.8 15.1 4.6 81.4 52.7 38.8
Other expense (income)                      
Interest expense 2.1 2.2 2.3 2.6 2.4 2.7 2.6 2.8 9.2 10.5 12.7
Interest income (0.1) (0.2) (0.2) (0.1) (0.1) (0.1) (0.1) (0.2) (0.6) (0.5) (0.2)
Net gain on sale of a business 0.0 0.0 (0.1) 0.0 0.0 0.0 0.0 0.0 (0.1) 0.0 (0.5)
Equity in losses from investment in unconsolidated entity 0.2 0.1 0.2 0.2 (0.3) 0.4 0.3 0.5 0.7 0.9 1.7
Total other expenses (income) 2.2 2.1 2.2 2.7 2.0 3.0 2.8 3.1 9.2 10.9 13.7
Earnings before income taxes 14.9 19.3 28.0 10.0 15.2 12.8 12.3 1.5 72.2 41.8 25.1
Income tax expense (benefit) 6.4 7.3 10.7 3.3 4.9 5.1 4.9 0.9 27.7 15.8 4.8
Net income 8.5 12.0 17.3 6.7 10.3 7.7 7.4 0.6 44.5 26.0 20.3
Less: Net income attributable to noncontrolling interest 0.7 0.8 1.1 0.7 0.7 0.7 0.9 0.6 3.3 2.9 2.9
Net income attributable to SP Plus Corporation $ 7.8 $ 11.2 $ 16.2 $ 6.0 $ 9.6 $ 7.0 $ 6.5 $ 0.0 41.2 23.1 17.4
Operating Segments | Region One                      
Revenues:                      
Lease contracts                 433.8 420.3 447.1
Management contracts                 250.0 248.3 238.7
Total parking services revenue                 683.8 668.6 685.8
Gross Profit                      
Lease contracts                 35.8 32.6 35.8
Management contracts                 96.9 95.7 93.7
Total gross profit                 $ 132.7 $ 128.3 $ 129.5
Gross Margin                      
Lease contracts (as a percent)                 8.30% 7.80% 8.00%
Management contracts (as a percent)                 38.80% 38.50% 39.30%
Operating Segments | Region Two                      
Revenues:                      
Lease contracts                 $ 129.3 $ 124.7 $ 123.8
Management contracts                 89.1 88.0 100.5
Total parking services revenue                 218.4 212.7 224.3
Gross Profit                      
Lease contracts                 6.7 5.7 5.4
Management contracts                 26.2 24.6 24.9
Total gross profit                 $ 32.9 $ 30.3 $ 30.3
Gross Margin                      
Lease contracts (as a percent)                 5.20% 4.50% 4.40%
Management contracts (as a percent)                 29.20% 28.00% 20.00%
Corporate, Non-Segment                      
Revenues:                      
Lease contracts                 $ 0.0 $ 0.0 $ 0.0
Management contracts                 9.1 10.5 11.1
Total parking services revenue                 9.1 10.5 11.1
Gross Profit                      
Lease contracts                 2.2 1.1 (3.1)
Management contracts                 17.5 16.7 13.4
Total gross profit                 $ 19.7 $ 17.8 $ 10.3
Gross Margin                      
Lease contracts (as a percent)                 0.00% 0.00% 11.80%
Management contracts (as a percent)                 192.30% 159.00% 120.50%