Net Income (Loss) per Common Share

12 Months Ended

Dec. 31, 2021

5. Net Income (Loss) per Common Share

Basic net income (loss) per common 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 common share is based upon the weighted daily average number of shares of common stock outstanding for the period plus all potentially dilutive stock-based awards, including restricted stock and performance share 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, stock-based awards are excluded from the calculation of net income (loss) per diluted 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 years ending December 31, 2021, 2020 and 2019 was as follows:

	Year Ended December 31,
(millions, except share and per share data)	2021		2020			2019
Net income (loss) attributable to SP Plus Corporation	$	31.7	$	(172.8	)	$	48.8
Basic weighted average common shares outstanding		21,166,323		21,056,061			22,080,025
Dilutive impact of share-based awards		213,660		—			128,007
Diluted weighted average common shares outstanding		21,379,983		21,056,061			22,208,032
Net income (loss) per common share
Basic	$	1.50	$	(8.21	)	$	2.21
Diluted	$	1.48	$	(8.21	)	$	2.20

Due to the net loss during the year ended December 31, 2020, common stock equivalents arising from 51,276 restricted stock units were excluded from the computation.

There were no additional securities that could dilute basic earnings per common share in the future that were not included in the computation of diluted earnings per common share, other than those disclosed.