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Significant Accounting Policies and Practices (Tables)
 12 Months Ended
Dec. 31, 2018
Accounting Policies [Abstract]  
Schedule of Contract with Customer, Asset and Liability
The Company adopted the provisions of Topic 853 on January 1, 2018 and upon the adoption, the Company was required to reclassify certain assets used in service concession arrangements that were previously included in Leasehold improvements, equipment and construction in progress, net, to Other assets, net within the Consolidated Balance Sheet for December 31, 2018 (as discussed previously, the prior period presented has not been recasted).

In addition, the Company has the contractual right to invoice a customer prior to the performance obligation being satisfied in certain contractual arrangements, primarily related to monthly parking arrangements, and therefore effective January 1, 2018; the Company established a contract asset with a corresponding contract liability for the performance obligation expected to be satisfied at a future date.

The impact of this change on the Consolidated Balance Sheet as of December 31, 2018 is as follows:
 
 
Impact of Changes in Accounting Policies as of December 31, 2018
(millions, unaudited)
 
As Reported
 
Balances without Adoption of Topics 606 and 853
 
Impact of Adoption
Increase/(Decrease)
Assets
 
 
 
 
 
 
Notes and accounts receivable, net (1)
 
$
150.7

 
$
140.3

 
$
10.4

Leasehold improvements, equipment and construction in progress, net (2)
 
40.3

 
40.8

 
(0.5
)
Other assets, net (2)
 
17.3

 
16.8

 
0.5

Liabilities
 
 
 
 
 
 
Accrued expenses (1)
 
$
45.1

 
$
34.7

 
$
10.4


(1) Approximately $10.4 million and $10.4 million of contract assets and contract liabilities, respectively, were recognized as of December 31, 2018.

(2) Leasehold improvements used in service concession arrangements of approximately $0.5 million were reclassified from Leasehold improvements, equipment and construction in progress to Other assets, net, as of December 31, 2018.
The following table provides information about changes to contract asset balances for the year ended December 31, 2018:
(millions)
Contract Asset
Balance as of January 1, 2018
$
12.2

Additional contract assets
132.7

Reclassification to accounts receivable
(133.5
)
Balance as of December 31, 2018
$
11.4

The following table provides information about contract assets and contract liabilities with customers and clients as of December 31, 2018:
(millions)
December 31, 2018
Accounts receivable
$
139.3

Contract asset
11.4

Contract liability
$
(19.1
)
The following table provides information about changes to contract liability balances for the year ended December 31, 2018:
(millions)
Contract Liability
Balance as of January 1, 2018
$
(20.5
)
Additional contract liabilities
(170.4
)
Recognition of revenue from contract liabilities
171.8

Balance as of December 31, 2018
$
(19.1
)
Schedule of Amortization Expense Related to Cost of Contracts
The impact of this change to gross profit and depreciation and amortization for the year ended December 31, 2018 was as follows:
 
 
Impact of Changes in Accounting Policies for the Year Ended December 31, 2018
(millions, unaudited)
 
As Reported
 
Balances without Adoption of Topics 606 and 853
 
Impact of Adoption
Increase/(Decrease)
Services revenue
 
 
 
 
 
 
Lease type contracts (1)
 
$
413.9

 
$
547.5

 
$
(133.6
)
Management type contracts
 
361.5

 
361.7

 
(0.2
)
 
 
775.4

 
909.2

 
(133.8
)
Reimbursed management type contract revenue
 
693.0

 
693.0

 
—

Total services revenue
 
1,468.4

 
1,602.2

 
(133.8
)
Cost of services
 
 
 
 
 
 
Lease type contracts (1)
 
377.6

 
511.0

 
(133.4
)
Management type contracts
 
213.8

 
213.8

 
—

 
 
591.4

 
724.8

 
(133.4
)
Reimbursed management type contract expense
 
693.0

 
693.0

 
—

Total cost of services
 
1,284.4

 
1,417.8

 
(133.4
)
Gross profit
 
 
 
 
 
 
Lease type contracts
 
36.3

 
36.5

 
(0.2
)
Management type contracts
 
147.7

 
147.8

 
(0.1
)
Total gross profit
 
$
184.0

 
$
184.3

 
$
(0.3
)
 
 
 
 
 
 
 
Depreciation and amortization
 
$
17.9

 
$
18.2

 
$
(0.3
)

(1) Certain expenses, primarily rental expense for contractual arrangements that meet the definition of a service concession arrangement under Topic 853, of approximately $133.4 million that would have been previously classified as Cost of services - lease type contracts have been classified as a reduction of revenue and included in Services revenue - lease type contracts for the year ended December 31, 2018.
The table below shows amortization expense related to cost of contracts for the years ended December 31, 2018, 2017 and 2016, respectively. Amortization expense of cost of contracts related to service concession arrangements within the scope of Topic 853 is recorded as a reduction of revenue and was not significant for the years ended December 31, 2018, 2017 and 2016, respectively.
 
Year Ended December 31,
(millions)
2018
 
2017
 
2016
Amortization expense related to cost of contract
$
3.0

 
$
3.2

 
$
3.4