Net Income (Loss) per Common Share

9 Months Ended

Sep. 30, 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 and nine months ended September 30, 2021 and 2020 (unaudited) was as follows:

	Three Months Ended					Nine Months Ended
(millions, except share and per share data)	September 30, 2021		September 30, 2020			September 30, 2021		September 30, 2020
Net income (loss) attributable to SP Plus Corporation	$	11.5	$	(88.1	)	$	22.8	$	(173.3	)
Basic weighted average common shares outstanding		21,184,583		21,047,076			21,158,667		21,057,080
Dilutive impact of share-based awards		215,803		—			206,615		—
Diluted weighted average common shares outstanding		21,400,386		21,047,076			21,365,282		21,057,080
Net income (loss) per common share
Basic	$	0.54	$	(4.19	)	$	1.08	$	(8.23	)
Diluted	$	0.54	$	(4.19	)	$	1.07	$	(8.23	)

Due to the net loss during the three and nine months ended September 30, 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.