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Condensed Consolidated Statements of Income - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Services revenue $ 229.1 $ 418.6 $ 842.2 $ 1,242.2
Cost of services 187.1 359.9 843.8 1,068.4
Lease impairment 0.3 0.0 94.5 0.0
Gross profit 42.0 58.7 (1.6) 173.8
General and administrative expenses 18.4 26.0 61.9 80.8
Depreciation and amortization 8.2 7.3 23.6 21.8
Impairment of goodwill and intangible assets 131.6 0.0 135.3 0.0
Operating (loss) income (116.2) 25.4 (222.4) 71.2
Other expense (income)        
Interest expense 5.7 4.8 15.4 14.7
Interest income (0.1) (0.1) (0.3) (0.3)
Other expenses 0.0 0.0 0.2 0.0
Gain on sale of other investments 0.0 0.0 (0.3) 0.0
Total other expenses 5.6 4.7 15.0 14.4
(Loss) earnings before income taxes (121.8) 20.7 (237.4) 56.8
Income tax (benefit) expense (33.5) 5.7 (63.7) 14.6
Net (loss) income (88.3) 15.0 (173.7) 42.2
Less: Net (loss) income attributable to noncontrolling interest (0.2) 0.8 (0.4) 2.2
Net (loss) income attributable to SP Plus Corporation $ (88.1) $ 14.2 $ (173.3) $ 40.0
Net (loss) income per common share        
Basic (in dollars per share) $ (4.19) $ 0.64 $ (8.23) $ 1.79
Diluted (in dollars per share) $ (4.19) $ 0.64 $ (8.23) $ 1.78
Weighted average shares outstanding        
Basic (in shares) 21,047,076 21,945,129 21,057,080 22,277,852
Diluted (in shares) 21,047,076 22,038,905 21,057,080 22,411,965
Lease Type Contracts        
Services revenue $ 38.5 $ 104.6 $ 150.4 $ 307.6
Cost of services 34.4 93.0 157.7 274.5
Gross profit 4.1 11.6 (7.3) 33.1
Management Type Contracts        
Services revenue 79.7 132.6 279.6 395.4
Cost of services 41.5 85.5 179.4 254.7
Lease impairment 0.3 0.0 94.5 0.0
Gross profit 38.2 47.1 100.2 140.7
Lease and Management Type Contracts        
Services revenue 118.2 237.2 430.0 703.0
Cost of services 75.9 178.5 337.1 529.2
Reimbursed Management Type Contract Revenue        
Services revenue 110.9 181.4 412.2 539.2
Cost of services $ 110.9 $ 181.4 $ 412.2 $ 539.2