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Net (Loss) Income per Common Share
6 Months Ended
Jun. 30, 2020
Earnings Per Share [Abstract]  
Net (Loss) Income per Common Share

12. Net (Loss) Income per Common Share

Basic net (loss) income per share is computed by dividing net (loss) income by the weighted daily average number of shares of common stock outstanding during the period. Diluted net (loss) income per share is based upon the weighted daily average number of shares of common stock outstanding for the period plus dilutive potential common shares, including restricted stock units, using the treasury-stock method.

Basic and diluted net (loss) income per common share and a reconciliation of the weighted average basic common shares outstanding to the weighted average diluted common shares outstanding is as follows:

 

 

 

Three Months Ended

 

Six Months Ended

 

(millions, except share and per share data) (unaudited)

 

June 30, 2020

 

 

June 30, 2019

 

June 30, 2020

 

 

June 30, 2019

 

Net (loss) income attributable to SP Plus Corporation

 

$

(39.1

)

 

$

15.2

 

$

(85.2

)

 

$

25.8

 

Basic weighted average common shares outstanding

 

 

20,972,057

 

 

 

22,382,139

 

 

21,062,495

 

 

 

22,445,825

 

Dilutive impact of share-based awards

 

 

 

 

 

150,074

 

 

 

 

 

154,282

 

Diluted weighted average common shares outstanding

 

 

20,972,057

 

 

 

22,532,213

 

 

21,062,495

 

 

 

22,600,107

 

Net (loss) income per common share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

(1.86

)

 

$

0.68

 

$

(4.05

)

 

$

1.15

 

Diluted

 

$

(1.86

)

 

$

0.68

 

$

(4.05

)

 

$

1.14

 

 

During the three and six months ended June 30, 2020, common stock equivalents arising from 153,442 restricted stock units were considered anti-dilutive. For the three and six months ended June 30, 2020 and 2019, unvested performance share units were excluded from the computation of weighted average diluted common share outstanding because the number of shares ultimately issuable is contingent on the Company's performance goals, which were not achieved as of the reporting dates.

There are no additional securities that could dilute basic earnings per share in the future that were not included in the computation of diluted earnings per share, other than those disclosed.