XML 125 R108.htm IDEA: XBRL DOCUMENT v3.10.0.1
Unaudited Quarterly Results (Details) - USD ($)
$ / shares in Units, $ in Millions
3 Months Ended 12 Months Ended
Dec. 31, 2018
Sep. 30, 2018
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2017
Sep. 30, 2017
Jun. 30, 2017
Mar. 31, 2017
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Condensed Financial Statements, Captions [Line Items]                      
Total revenue $ 377.3 $ 362.1 $ 362.2 $ 366.8 $ 392.4 $ 392.7 $ 403.5 $ 401.9 $ 1,468.4 $ 1,590.5 $ 1,568.4
Cost of services 328.8 317.1 311.1 327.4 351.0 346.8 346.0 361.4 1,284.4 1,405.2 1,392.0
Gross profit 48.5 45.0 51.1 39.4 41.4 45.9 57.5 40.5 184.0 185.3 176.4
General and administrative expenses 27.7 18.7 22.3 22.3 19.6 19.6 22.5 21.2 91.0 82.9 90.0
Depreciation and amortization 5.2 4.2 4.5 4.0 4.7 4.9 4.8 6.6 17.9 21.0 33.7
Operating income 15.6 22.1 24.3 13.1 17.1 21.4 30.2 12.7 75.1 81.4 52.7
Other expense (income)                      
Interest expense 3.2 2.1 2.2 2.1 2.1 2.2 2.3 2.6 9.6 9.2 10.5
Interest income (0.1) (0.1) (0.1) (0.1) (0.1) (0.2) (0.2) (0.1) (0.4) (0.6) (0.5)
Net gain on sale of a business 0.0 0.0 0.0 0.0 0.0 0.0 (0.1) 0.0 0.0 (0.1) 0.0
Equity in (income) losses from investment in unconsolidated entity 0.0 0.0 0.0 (10.1) 0.2 0.1 0.2 0.2 (10.1) 0.7 0.9
Total other expenses (income) 3.1 2.0 2.1 (8.1) 2.2 2.1 2.2 2.7 (0.9) 9.2 10.9
Earnings before income taxes 12.5 20.1 22.2 21.2 14.9 19.3 28.0 10.0 76.0 72.2 41.8
Income tax expense 2.7 5.6 6.0 5.3 6.4 7.3 10.7 3.3 19.6 27.7 15.8
Net income 9.8 14.5 16.2 15.9 8.5 12.0 17.3 6.7 56.4 44.5 26.0
Less: Net income attributable to noncontrolling interest 0.7 1.0 0.9 0.6 0.7 0.8 1.1 0.7 3.2 3.3 2.9
Net income attributable to SP Plus Corporation $ 9.1 $ 13.5 $ 15.3 $ 15.3 $ 7.8 $ 11.2 $ 16.2 $ 6.0 $ 53.2 $ 41.2 $ 23.1
Net income per share                      
Basic (in dollars per share) $ 0.40 $ 0.60 $ 0.68 $ 0.69 $ 0.35 $ 0.51 $ 0.73 $ 0.27 $ 2.38 $ 1.86 $ 1.04
Diluted (in dollars per share) $ 0.40 $ 0.60 $ 0.68 $ 0.68 $ 0.35 $ 0.50 $ 0.72 $ 0.27 $ 2.35 $ 1.83 $ 1.03
Weighted average shares outstanding                      
Basic (in shares) 22,465,834 22,439,884 22,370,923 22,308,694 22,221,536 22,203,023 22,190,421 22,148,265 22,394,542 22,195,350 22,238,021
Diluted (in shares) 22,607,102 22,626,746 22,644,884 22,557,326 22,528,825 22,523,036 22,515,234 22,447,904 22,607,223 22,508,288 22,528,122
Equity method investee's sale of assets, gross profit             $ 8.5        
Lease type contracts                      
Condensed Financial Statements, Captions [Line Items]                      
Total revenue $ 102.3 $ 104.7 $ 107.4 $ 99.5 $ 140.5 $ 140.9 150.9 $ 130.8 $ 413.9 $ 563.1 $ 545.0
Cost of services 94.3 94.2 94.5 94.6 131.4 131.0 130.2 125.8 377.6 518.4 505.6
Gross profit 8.0 10.5 12.9 4.9 9.1 9.9 20.7 5.0 36.3 44.7 39.4
Management type contracts                      
Condensed Financial Statements, Captions [Line Items]                      
Total revenue 96.8 82.6 87.7 94.4 85.4 86.7 84.0 92.1 361.5 348.2 346.8
Cost of services 56.3 48.1 49.5 59.9 53.1 50.7 47.2 56.6 213.8 207.6 209.8
Gross profit 40.5 34.5 38.2 34.5 32.3 36.0 36.8 35.5 147.7 140.6 137.0
Reimbursed management type contract revenue                      
Condensed Financial Statements, Captions [Line Items]                      
Total revenue 178.2 174.8 167.1 172.9 166.5 165.1 168.6 179.0 693.0 679.2 676.6
Cost of services $ 178.2 $ 174.8 $ 167.1 $ 172.9 $ 166.5 $ 165.1 $ 168.6 $ 179.0 $ 693.0 $ 679.2 $ 676.6