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Condensed Consolidated Statements of Income - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Services revenue $ 418.6 $ 362.1 $ 1,242.2 $ 1,091.2
Cost of services 359.9 317.1 1,068.4 955.6
Gross profit 58.7 45.0 173.8 135.6
General and administrative expenses 26.0 18.7 80.8 63.3
Depreciation and amortization 7.3 4.2 21.8 12.7
Operating income 25.4 22.1 71.2 59.6
Other expenses (income)        
Interest expense 4.8 2.1 14.7 6.5
Interest income (0.1) (0.1) (0.3) (0.3)
Equity in earnings from investment in unconsolidated entity 0.0 0.0 0.0 (10.1)
Total other expenses (income) 4.7 2.0 14.4 (3.9)
Earnings before income taxes 20.7 20.1 56.8 63.5
Income tax expense 5.7 5.6 14.6 16.9
Net income 15.0 14.5 42.2 46.6
Less: Net income attributable to noncontrolling interest 0.8 1.0 2.2 2.5
Net income attributable to SP Plus Corporation $ 14.2 $ 13.5 $ 40.0 $ 44.1
Net income per common share        
Basic (in dollars per share) $ 0.64 $ 0.60 $ 1.79 $ 1.97
Diluted (in dollars per share) $ 0.64 $ 0.60 $ 1.78 $ 1.95
Weighted average shares outstanding        
Basic (in shares) 21,945,129 22,439,884 22,277,852 22,370,789
Diluted (in shares) 22,038,905 22,626,746 22,411,965 22,607,274
Lease type contracts        
Services revenue $ 104.6 $ 104.7 $ 307.6 $ 311.6
Cost of services 93.0 94.2 274.5 283.2
Gross profit 11.6 10.5 33.1 28.4
Management type contracts        
Services revenue 132.6 82.6 395.4 264.8
Cost of services 85.5 48.1 254.7 157.6
Gross profit 47.1 34.5 140.7 107.2
Lease and management type contracts        
Services revenue 237.2 187.3 703.0 576.4
Cost of services 178.5 142.3 529.2 440.8
Reimbursed management type contract revenue        
Services revenue 181.4 174.8 539.2 514.8
Cost of services $ 181.4 $ 174.8 $ 539.2 $ 514.8