XML 75 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Parking services revenue:      
Lease contracts $ 250,355 $ 147,510 $ 138,664
Management contracts 230,501 173,725 171,331
Reimbursed management contract revenue 473,082 408,427 411,148
Total revenue 953,938 729,662 721,143
Cost of parking services:      
Lease contracts 230,262 136,494 128,613
Management contracts 140,843 96,159 94,481
Reimbursed management contract expense 473,082 408,427 411,148
Total cost of parking services 844,187 641,080 634,242
Gross profit:      
Lease contracts 20,093 11,016 10,051
Management contracts 89,658 77,566 76,850
Total gross profit 109,751 88,582 86,901
General and administrative expenses 86,663 [1] 48,297 [1] 47,878 [1]
Depreciation and amortization 13,241 6,618 6,074
Total costs and expenses 944,091 695,995 688,194
Operating income 9,847 33,667 32,949
Other expenses (income):      
Interest expense 8,449 4,691 5,335
Interest income (382) (537) (249)
Total other expenses (income) 8,067 4,154 5,086
Income before income taxes 1,780 29,513 27,863
Income tax (benefit) expense (2,374) 11,235 10,755
Net income 4,154 18,278 17,108
Less: Net income attributable to noncontrolling interest 1,034 378 268
Net income attributable to Standard Parking Corporation $ 3,120 $ 17,900 $ 16,840
Net income per share:      
Basic (in dollars per share) $ 0.18 $ 1.14 $ 1.08
Diluted (in dollars per share) $ 0.18 $ 1.12 $ 1.06
Weighted average shares outstanding:      
Basic (in shares) 17,179,606 15,703,595 15,579,352
Diluted (in shares) 17,490,204 16,047,879 15,944,662
[1] Non-cash stock based compensation expense of $2,103, $2,451 and $2,310 for the years ended December 31, 2012, 2011 and 2010, respectively, is included in general and administrative expenses.