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Condensed Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Parking services revenue:        
Lease contracts $ 146,454 $ 124,958 $ 282,269 $ 241,593
Management contracts 88,305 84,931 182,363 174,886
Reimbursed management contract revenue 170,856 164,539 345,137 333,717
Total revenue 405,615 374,428 809,769 750,196
Cost of parking services:        
Lease contracts 134,474 111,979 263,167 224,063
Management contracts 53,850 50,016 113,840 109,230
Reimbursed management contract expense 170,856 164,539 345,137 333,717
Total cost of parking services 359,180 326,534 722,144 667,010
Gross profit:        
Lease contracts 11,980 12,979 19,102 17,530
Management contracts 34,455 34,915 68,523 65,656
Total gross profit 46,435 47,894 87,625 83,186
General and administrative expenses 24,739 24,996 50,412 51,062
Depreciation and amortization 8,165 7,730 16,099 14,893
Operating income 13,531 15,168 21,114 17,231
Other expenses (income)        
Interest expense 3,062 4,811 7,105 9,620
Interest income (40) (94) (100) (192)
Equity in losses from investment in unconsolidated entity 353   824  
Total other expenses (income) 3,375 4,717 7,829 9,428
Income before income taxes 10,156 10,451 13,285 7,803
Income tax provision (benefit) (385) 4,254 950 (3,184)
Net income 10,541 6,197 12,335 10,987
Less: Net income attributable to noncontrolling interest 784 890 1,236 1,377
Net income attributable to SP Plus Corporation $ 9,757 $ 5,307 $ 11,099 $ 9,610
Net income per share:        
Basic (in dollars per share) $ 0.44 $ 0.24 $ 0.50 $ 0.44
Diluted (in dollars per share) $ 0.43 $ 0.24 $ 0.49 $ 0.43
Weighted average shares outstanding:        
Basic (in shares) 22,145,190 21,991,965 22,136,458 21,984,912
Diluted (in shares) 22,521,832 22,398,886 22,505,403 22,375,377