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Condensed Consolidated Statements of Income (Loss) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Services revenue $ 275.7 $ 203.4 $ 522.4 $ 613.1
Cost of services 229.2 216.8 437.6 656.7
Gross profit 46.5 (13.4) 84.8 (43.6)
General and administrative expenses 22.0 22.8 43.0 43.5
Depreciation and amortization 6.2 7.9 12.5 15.4
Impairment of intangible assets   3.7   3.7
Operating income (loss) 18.3 (47.8) 29.3 (106.2)
Other expense (income)        
Interest expense 5.1 5.3 10.9 9.7
Interest income (0.1) (0.1) (0.2) (0.2)
Other expenses (income)   0.2   (0.1)
Total other expenses 5.0 5.4 10.7 9.4
Earnings (loss) before income taxes 13.3 (53.2) 18.6 (115.6)
Income tax expense (benefit) 3.5 (13.4) 4.9 (30.2)
Net income (loss) 9.8 (39.8) 13.7 (85.4)
Less: Net income (loss) attributable to noncontrolling interest 0.8 (0.7) 2.4 (0.2)
Net income (loss) attributable to SP Plus Corporation $ 9.0 $ (39.1) $ 11.3 $ (85.2)
Net income (loss) per common share        
Basic (in dollars per share) $ 0.42 $ (1.86) $ 0.53 $ (4.05)
Diluted (in dollars per share) $ 0.42 $ (1.86) $ 0.53 $ (4.05)
Weighted average shares outstanding        
Basic (in shares) 21,177,142 20,972,057 21,145,494 21,062,495
Diluted (in shares) 21,390,609 20,972,057 21,347,514 21,062,495
Lease Type Contracts        
Services revenue $ 50.9 $ 30.2 $ 93.6 $ 111.9
Cost of services 39.5 43.1 74.8 123.3
Gross profit 11.4 (12.9) 18.8 (11.4)
Management Type Contracts        
Services revenue 90.3 62.8 176.3 199.9
Cost of services 55.2 46.6 110.2 137.9
Gross profit 35.1 16.2 66.1 62.0
Lease and Management Type Contracts        
Services revenue 141.2 93.0 269.9 311.8
Cost of services 94.7 89.7 185.0 261.2
Reimbursed Management Type Contract Revenue        
Services revenue 134.5 110.4 252.5 301.3
Cost of services $ 134.5 110.4 252.5 301.3
Lease Impairment        
Cost of services   16.7 0.1 94.2
Gross profit   $ (16.7) $ (0.1) $ (94.2)