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Condensed Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Parking services revenue        
Lease contracts $ 146,618 $ 129,004 $ 428,887 $ 370,597
Management contracts 85,813 77,878 268,176 252,764
Reimbursed management contract revenue 168,332 173,405 513,469 507,122
Total revenue 400,763 380,287 1,210,532 1,130,483
Cost of parking services        
Lease contracts 135,966 116,520 399,133 340,583
Management contracts 53,629 46,741 167,469 155,971
Reimbursed management contract expense 168,332 173,405 513,469 507,122
Total cost of parking services 357,927 336,666 1,080,071 1,003,676
Gross profit        
Lease contracts 10,652 12,484 29,754 30,014
Management contracts 32,184 31,137 100,707 96,793
Total gross profit 42,836 43,621 130,461 126,807
General and administrative expenses 23,752 24,123 74,164 75,185
Depreciation and amortization 8,275 7,630 24,374 22,523
Operating income 10,809 11,868 31,923 29,099
Other expenses (income)        
Interest expense 2,954 4,162 10,059 13,782
Interest income (46) (144) (146) (336)
Gain on sale of a business (508)   (508)  
Equity in losses from investment in unconsolidated entity 408   1,232  
Total other expenses (income) 2,808 4,018 10,637 13,446
Income before income taxes 8,001 7,850 21,286 15,653
Income tax provision (benefit) 3,516 2,763 4,466 (421)
Net income 4,485 5,087 16,820 16,074
Less: Net income attributable to noncontrolling interest 778 785 2,014 2,162
Net income attributable to SP Plus Corporation $ 3,707 $ 4,302 $ 14,806 $ 13,912
Net income per share        
Basic (in dollars per share) $ 0.17 $ 0.20 $ 0.67 $ 0.63
Diluted (in dollars per share) $ 0.16 $ 0.19 $ 0.66 $ 0.62
Weighted average shares outstanding        
Basic (in shares) 22,205,707 21,997,394 22,159,701 21,989,131
Diluted (in shares) 22,548,166 22,426,787 22,519,818 22,392,572