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Document and Entity Information
3 Months Ended
Mar. 31, 2013
May 03, 2013
Document and Entity Information    
Entity Registrant Name STANDARD PARKING CORP  
Entity Central Index Key 0001059262  
Document Type 10-Q  
Document Period End Date Mar. 31, 2013  
Amendment Flag true  
Amendment Description This Quarterly Report on Form 10-Q/A of Standard Parking Corporation (the "Company," "Standard," "we," or "us") for the quarterly period ended March 31, 2013 includes restated consolidated balance sheets as of December 31, 2012 and March 30, 2013 and consolidated statements of income, consolidated statements of comprehensive income and consolidated statements of cash flows for the three months ended March 31, 2013 and 2012. We will not file an amended Quarterly Report on Form 10-Q/A for the quarterly period ended March 31, 2012. This restatement is to reflect a correction in the manner in which the Company has accounted for deficiency payments under the Company's agreement with the State of Connecticut (the "State") under which the Company operates the surface parking and 3,500 garage parking spaces at Bradley International Airport located in the Hartford, Connecticut metropolitan area (the "Bradley Agreement"). Cumulative deficiency payments under the Bradley Agreement, net of reimbursements, had previously been recorded as a receivable by the Company. At the time of the Company's initial accounting for the Bradley Agreement in 2000, the Company's revenue projections, as well as the projections included in the Bradley Agreement and in the feasibility study prepared by the State's parking consultant showed that the State would be able to repay deficiency payments, if any, over the term of the Bradley Agreement. The Company continues to believe that there would be sufficient funds available and the State will be able to repay and expects that the State will ultimately repay the deficiency payments made by the Company under the Bradley Agreement. However, it has now been determined that the recovery of the deficiency payments represents a contingency and, accordingly, (i) the deficiency payments made by the Company under the Bradley Agreement should have been, and should continue to be, recorded as cost of parking services in the reporting periods in which such payments were made, and (ii) the payments to the Company of the principal, interest and premium related to deficiency payments should have been, and should continue to be, recognized as a reduction of cost of parking services in the reporting periods in which such repayments were received. This approach is different from the Company's historical practice of reporting such deficiency payments as accounts receivable and interest and premium received as interest income. The restatement of the Company's historical consolidated financial statements to reflect its correction in accounting for deficiency payments under the Bradley Agreement is referred to herein as the "Restatement." In addition, during September 2013, the Company finalized the purchase price allocation for its acquisition of KCPC Holdings, Inc. ("KCPC"), the ultimate parent company of Central Parking Corporation, on October 2, 2012. As required by generally accepted accounting principles, the Company has recast the previously issued consolidated financial statements for the three months ended March 31, 2013 included in this Quarterly Report on Form 10-Q/A to reflect the impact of the final purchase allocation as if it were completed at the date of acquisition (referred to herein as the "Purchase Allocation Recast"). For further information regarding the Restatement, see the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission (the "SEC") dated November 13, 2013 (the "Restatement 8-K"), and for detailed financial information with respect to the Restatement and the Purchase Allocation Recast, see Note 2 of the notes to consolidated financial statements included in this Quarterly Report on Form 10-Q/A. The following items of the Form 10-Q have been modified or revised in this Form 10-Q/A to reflect the Restatement and the Purchase Allocation Recast: Part I. Item 1. Financial Statements; Part I. Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations; and Part I. Item 4. Controls and Procedures. The Company's principal executive officer, principal financial officer and principal accounting officer have provided currently dated certifications pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act of 2002 in connection with this Amendment on Form 10-Q/A; the certifications are filed as Exhibits 31.1, 31.2, 31.3 and 32. This amended Quarterly Report on Form 10-Q/A sets forth the original Quarterly Report on Form 10-Q in its entirety, except as required to reflect the effects of the Restatement and the Purchase Allocation Recast. Except for disclosures affected by the Restatement and the Purchase Allocation Recast, this amended Quarterly Report on Form 10-Q/A speaks as of the original filing date of May 10, 2013 and does not modify or update disclosures in the Form 10-Q, including the nature and character of such disclosures, to reflect events occurring or items discovered after the original filing date of the Form 10-Q. This amended Quarterly Report on Form 10-Q/A should be read in conjunction with the Company's other filings, as amended, made with the Securities and Exchange Commission subsequent to December 31, 2012, including the Restatement 8-K and the Company's amended Annual Report on Form 10-K/A for the year ended December 31, 2012.  
Current Fiscal Year End Date --12-31  
Entity Current Reporting Status Yes  
Entity Filer Category Accelerated Filer  
Entity Common Stock, Shares Outstanding   21,888,750
Document Fiscal Year Focus 2013  
Document Fiscal Period Focus Q1