Business Unit Segment Information (Tables)

9 Months Ended

Sep. 30, 2018

Segment Reporting [Abstract]

Summary of Revenues and Gross Profit by Regions

The following is a summary of revenues (excluding reimbursed management type contract revenue) and gross profit by regions for the three and nine months ended September 30, 2018 and 2017:

	Three Months Ended										Nine Months Ended
(millions) (unaudited)	September 30, 2018			Gross Margin %		September 30, 2017			Gross Margin %		September 30, 2018			Gross Margin %		September 30, 2017			Gross Margin %
Parking Services Revenue
Region One
Lease type contracts (1)	$	97.6				$	108.9				$	290.8				$	326.0
Management type contracts	59.4					62.5					191.1					190.1
Total Region One	157.0					171.4					481.9					516.1
Region Two
Lease type contracts (1)	6.9					32.0					20.3					96.6
Management type contracts	21.1					22.2					66.2					66.4
Total Region Two	28.0					54.2					86.5					163.0
Other
Lease type contracts	0.2					—					0.5					—
Management type contracts	2.1					2.0					7.5					6.3
Total Other	2.3					2.0					8.0					6.3
Reimbursed management type contract revenue	174.8					165.1					514.8					512.7
Total Parking Services Revenue	$	362.1				$	392.7				$	1,091.2				$	1,198.1
Gross Profit
Region One
Lease type contracts	$	7.7		8	%	$	7.8		7	%	$	19.5		7	%	$	28.9		9	%
Management type contracts	24.1			41	%	25.3			40	%	71.8			38	%	74.7			39	%
Total Region One	31.8					33.1					91.3					103.6
Region Two
Lease type contracts	2.0			29	%	1.6			5	%	5.6			28	%	4.9			5	%
Management type contracts	6.7			32	%	6.2			28	%	20.3			31	%	19.5			29	%
Total Region Two	8.7					7.8					25.9					24.4
Other
Lease type contracts	0.8			400	%	0.5			—	%	3.3			660	%	1.8			—	%
Management type contracts	3.7			176	%	4.5			225	%	15.1			201	%	14.1			224	%
Total Other	4.5					5.0					18.4					15.9
Total gross profit	$	45.0				$	45.9				$	135.6				$	143.9
General and administrative expenses	18.7					19.6					63.3					63.3
General and administrative expense percentage of gross profit	42		%			43		%			47		%			44		%
Depreciation and amortization	4.2					4.9					12.7					16.3
Operating income	22.1					21.4					59.6					64.3
Other expenses (income)
Interest expense	2.1					2.2					6.5					7.1
Interest income	(0.1		)			(0.2		)			(0.3		)			(0.5		)
Gain on sale of a business	—					—					—					(0.1		)
Equity losses (earnings) from investment in unconsolidated entity	—					0.1					(10.1		)			0.5
Total other expenses (income)	2.0					2.1					(3.9		)			7.0
Earnings before income taxes	20.1					19.3					63.5					57.3
Income tax expense	5.6					7.3					16.9					21.3
Net income	14.5					12.0					46.6					36.0
Less: Net income attributable to noncontrolling interest	1.0					0.8					2.5					2.6
Net income attributable to SP Plus Corporation	$	13.5				$	11.2				$	44.1				$	33.4

(1) Includes reduction of Parking services revenue - lease type contracts due to the adoption of Topic 853, which requires rental expense for the periods after January 1, 2018 be presented as a reduction of Parking services revenue - lease type contracts for those locations (and corresponding contracts) that meet the criteria and definition of a service concession arrangement. Refer to Note 2. Revenue, for further discussion regarding the adoption of Topic 853.