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Condensed Consolidated Statements of Income - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Parking services revenue $ 362.2 $ 403.5 $ 729.0 $ 805.4
Cost of parking services 311.1 346.0 638.4 707.4
Gross profit 51.1 57.5 90.6 98.0
General and administrative expenses 22.3 22.5 44.6 43.7
Depreciation and amortization 4.5 4.8 8.5 11.4
Operating income 24.3 30.2 37.5 42.9
Other expenses (income)        
Interest expense 2.2 2.3 4.3 4.9
Interest income (0.1) (0.2) (0.2) (0.3)
Gain on sale of a business 0.0 (0.1) 0.0 (0.1)
Equity in (earnings) losses from investment in unconsolidated entity 0.0 0.2 (10.0) 0.4
Total other expenses (income) 2.1 2.2 (5.9) 4.9
Earnings before income taxes 22.2 28.0 43.4 38.0
Income tax expense 6.0 10.7 11.3 14.0
Net income 16.2 17.3 32.1 24.0
Less: Net income attributable to noncontrolling interest 0.9 1.1 1.5 1.8
Net income attributable to SP Plus Corporation $ 15.3 $ 16.2 $ 30.6 $ 22.2
Net income per common share        
Basic (in dollars per share) $ 0.68 $ 0.73 $ 1.37 $ 1.00
Diluted (in dollars per share) $ 0.68 $ 0.72 $ 1.36 $ 0.98
Weighted average shares outstanding        
Basic (in shares) 22,370,923 22,190,421 22,335,835 22,178,143
Diluted (in shares) 22,644,884 22,515,234 22,597,131 22,490,369
Lease type contracts        
Parking services revenue $ 107.4 $ 150.9 $ 206.9 $ 281.7
Cost of parking services 94.5 130.2 189.0 256.0
Gross profit 12.9 20.7 17.9 25.7
Management type contracts        
Parking services revenue 87.7 84.0 182.2 176.1
Cost of parking services 49.5 47.2 109.5 103.8
Gross profit 38.2 36.8 72.7 72.3
Cost of parking services        
Parking services revenue 195.1 234.9 389.1 457.8
Cost of parking services 144.0 177.4 298.5 359.8
Reimbursed management type contract        
Parking services revenue 167.1 168.6 339.9 347.6
Cost of parking services $ 167.1 $ 168.6 $ 339.9 $ 347.6