Net Income (Loss) per Common Share

3 Months Ended

Mar. 31, 2021

12. Net Income (Loss) per Common Share

Basic net income (loss) per share is computed by dividing net income (loss) by the weighted daily average number of shares of common stock outstanding during the period. Diluted net income (loss) 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. Unvested performance share units are excluded from the computation of weighted average diluted common shares outstanding if the performance targets upon which the issuance of the shares is contingent have not been achieved and the respective performance period has not been completed as of the end of the period. In periods where the Company has a net loss, restricted stock units are excluded from the calculation of net income (loss) per common share, as their inclusion would be anti-dilutive.

Basic and diluted net income (loss) per common share and a reconciliation of the weighted average basic common shares outstanding to the weighted average diluted common shares outstanding for the three months ended March 31, 2021 and 2020 (unaudited) was as follows:

	Three Months Ended
(millions, except share and per share data)	March 31, 2021		March 31, 2020
Net income (loss) attributable to SP Plus Corporation	$	2.3	$	(46.1	)
Basic weighted average common shares outstanding		21,113,494		21,154,047
Dilutive impact of share-based awards		190,574		—
Diluted weighted average common shares outstanding		21,304,068		21,154,047
Net income (loss) per common share
Basic	$	0.11	$	(2.18	)
Diluted	$	0.11	$	(2.18	)

Due to the net loss during the three months ended March 31, 2020, common stock equivalents arising from 153,442 restricted stock units were excluded from the computation.

There were 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.