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Condensed Consolidated Statements of Income - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Services revenue $ 203.4 $ 414.2 $ 613.1 $ 823.6
Cost of services 216.8 352.3 656.7 708.5
Lease impairment 16.7 0.0 94.2 0.0
Gross profit (13.4) 61.9 (43.6) 115.1
General and administrative expenses 22.8 27.7 43.5 54.8
Depreciation and amortization 7.9 7.3 15.4 14.5
Impairment of intangible assets 3.7 0.0 3.7 0.0
Operating (loss) income (47.8) 26.9 (106.2) 45.8
Other expense (income)        
Interest expense 5.3 4.9 9.7 9.9
Interest income (0.1) (0.1) (0.2) (0.2)
Other expenses 0.2 0.0 0.2 0.0
Gain on sale of other investments 0.0 0.0 (0.3) 0.0
Total other expenses 5.4 4.8 9.4 9.7
(Loss) earnings before income taxes (53.2) 22.1 (115.6) 36.1
Income tax (benefit) expense (13.4) 5.8 (30.2) 8.9
Net (loss) income (39.8) 16.3 (85.4) 27.2
Less: Net (loss) income attributable to noncontrolling interest (0.7) 1.1 (0.2) 1.4
Net (loss) income attributable to SP Plus Corporation $ (39.1) $ 15.2 $ (85.2) $ 25.8
Net (loss) income per common share        
Basic (in dollars per share) $ (1.86) $ 0.68 $ (4.05) $ 1.15
Diluted (in dollars per share) $ (1.86) $ 0.68 $ (4.05) $ 1.14
Weighted average shares outstanding        
Basic (in shares) 20,972,057 22,382,139 21,062,495 22,445,825
Diluted (in shares) 20,972,057 22,532,213 21,062,495 22,600,107
Lease Type Contracts        
Services revenue $ 30.2 $ 105.2 $ 111.9 $ 203.0
Cost of services 43.1 91.8 123.3 181.5
Gross profit (12.9) 13.4 (11.4) 21.5
Management Type Contracts        
Services revenue 62.8 129.9 199.9 262.8
Cost of services 46.6 81.4 137.9 169.2
Lease impairment 16.7 0.0 94.2 0.0
Gross profit 16.2 48.5 62.0 93.6
Lease and Management Type Contracts        
Services revenue 93.0 235.1 311.8 465.8
Cost of services 89.7 173.2 261.2 350.7
Reimbursed Management Type Contract Revenue        
Services revenue 110.4 179.1 301.3 357.8
Cost of services $ 110.4 $ 179.1 $ 301.3 $ 357.8