Business Unit Segment Information (Tables)

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Summary of revenues and gross profit by regions

The following is a summary of revenues and gross profit by operating segment for the three and nine months ended September 30, 2019 and 2018:

	Three Months Ended										Nine Months Ended
(millions) (unaudited)	September 30, 2019			Gross Margin %		September 30, 2018			Gross Margin %		September 30, 2019			Gross Margin %		September 30, 2018			Gross Margin %
Services Revenue
Segment One
Lease type contracts	$	96.2				$	97.6				$	283.6				$	290.8
Management type contracts	62.3					59.4					191.1					191.1
Total Segment One	158.5					157.0					474.7					481.9
Segment Two
Lease type contracts	8.1					6.9					23.4					20.3
Management type contracts	68.1					21.1					198.0					66.2
Total Segment Two	76.2					28.0					221.4					86.5
Other
Lease type contracts	0.3					0.2					0.6					0.5
Management type contracts	2.2					2.1					6.3					7.5
Total Other	2.5					2.3					6.9					8.0
Reimbursed management type contract revenue	181.4					174.8					539.2					514.8
Total Services Revenue	$	418.6				$	362.1				$	1,242.2				$	1,091.2
Gross Profit
Segment One
Lease type contracts	$	7.7		8	%	$	7.7		8	%	$	22.1		8	%	$	19.5		7	%
Management type contracts	25.8			41	%	24.1			41	%	73.0			38	%	71.8			38	%
Total Segment One	33.5					31.8					95.1					91.3
Segment Two
Lease type contracts	2.4			30	%	2.0			29	%	6.4			27	%	5.6			28	%
Management type contracts	17.5			26	%	6.7			32	%	52.9			27	%	20.3			31	%
Total Segment Two	19.9					8.7					59.3					25.9
Other
Lease type contracts	1.5			N/M		0.8			N/M		4.6			N/M		3.3			N/M
Management type contracts	3.8			N/M		3.7			N/M		14.8			N/M		15.1			N/M
Total Other	5.3					4.5					19.4					18.4
Total gross profit	$	58.7				$	45.0				$	173.8				$	135.6
General and administrative expenses	26.0					18.7					80.8					63.3
General and administrative expense percentage of gross profit	44		%			42		%			46		%			47		%
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 earnings from investment in unconsolidated entity	—					—					—					(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

N/M - Not Meaningful