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Condensed Consolidated Statements of Income - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Parking services revenue $ 362.1 $ 392.7 $ 1,091.2 $ 1,198.1
Cost of parking services 317.1 346.8 955.6 1,054.2
Gross profit 45.0 45.9 135.6 143.9
General and administrative expenses 18.7 19.6 63.3 63.3
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 0.0 0.0 0.0 (0.1)
Equity in losses (earnings) from investment in unconsolidated entity 0.0 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
Net income per common share        
Basic (in dollars per share) $ 0.60 $ 0.51 $ 1.97 $ 1.51
Diluted (in dollars per share) $ 0.60 $ 0.50 $ 1.95 $ 1.48
Weighted average shares outstanding        
Basic (in shares) 22,439,884 22,203,023 22,370,789 22,186,556
Diluted (in shares) 22,626,746 22,523,036 22,607,274 22,501,378
Lease type contracts        
Parking services revenue $ 104.7 $ 140.9 $ 311.6 $ 422.6
Cost of parking services 94.2 131.0 283.2 387.0
Gross profit 10.5 9.9 28.4 35.6
Management type contracts        
Parking services revenue 82.6 86.7 264.8 262.8
Cost of parking services 48.1 50.7 157.6 154.5
Gross profit 34.5 36.0 107.2 108.3
Lease and Management type contracts        
Parking services revenue 187.3 227.6 576.4 685.4
Cost of parking services 142.3 181.7 440.8 541.5
Reimbursed management type contract        
Parking services revenue 174.8 165.1 514.8 512.7
Cost of parking services $ 174.8 $ 165.1 $ 514.8 $ 512.7