Unaudited Quarterly Results (Tables)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Schedule of unaudited quarterly results

	2019											2018
(millions, except for share and per share data)	First Quarter			Second Quarter			Third Quarter			Fourth Quarter		First Quarter			Second Quarter			Third Quarter			Fourth Quarter (1)
	(Unaudited)											(Unaudited)
Services revenue
Lease type contracts	$	97.8		$	105.2		$	104.6		$	101.3	$	99.5		$	107.4		$	104.7		$	102.3
Management type contracts	132.9			129.9			132.6			130.6		94.4			87.7			82.6			96.8
Reimbursed management type contract revenue	178.7			179.1			181.4			189.6		172.9			167.1			174.8			178.2
Total revenue	409.4			414.2			418.6			421.5		366.8			362.2			362.1			377.3
Cost of services
Lease type contracts	89.7			91.8			93.0			92.4		94.6			94.5			94.2			94.3
Management type contracts	87.8			81.4			85.5			85.2		59.9			49.5			48.1			56.3
Reimbursed management type contract expense	178.7			179.1			181.4			189.6		172.9			167.1			174.8			178.2
Total cost of services	356.2			352.3			359.9			367.2		327.4			311.1			317.1			328.8
Gross profit
Lease type contracts	8.1			13.4			11.6			8.9		4.9			12.9			10.5			8.0
Management type contracts	45.1			48.5			47.1			45.4		34.5			38.2			34.5			40.5
Total gross profit	53.2			61.9			58.7			54.3		39.4			51.1			45.0			48.5
General and administrative expenses	27.1			27.7			26.0			28.2		22.3			22.3			18.7			27.7
Depreciation and amortization	7.2			7.3			7.3			7.6		4.0			4.5			4.2			5.2
Operating income	18.9			26.9			25.4			18.5		13.1			24.3			22.1			15.6
Other expense (income)
Interest expense	5.0			4.9			4.8			4.2		2.1			2.2			2.1			3.2
Interest income	(0.1		)	(0.1		)	(0.1		)	—		(0.1		)	(0.1		)	(0.1		)	(0.1		)
Equity in (income) losses from investment in unconsolidated entity	—			—			—			—		(10.1		)	—			—			—
Total other expenses (income)	4.9			4.8			4.7			4.2		(8.1		)	2.1			2.0			3.1
Earnings before income taxes	14.0			22.1			20.7			14.3		21.2			22.2			20.1			12.5
Income tax expense	3.1			5.8			5.7			4.8		5.3			6.0			5.6			2.7
Net income	10.9			16.3			15.0			9.5		15.9			16.2			14.5			9.8
Less: Net income attributable to noncontrolling interest	0.3			1.1			0.8			0.7		0.6			0.9			1.0			0.7
Net income attributable to SP Plus Corporation	$	10.6		$	15.2		$	14.2		$	8.8	$	15.3		$	15.3		$	13.5		$	9.1
Common stock data
Net income per common share (2)
Basic	$	0.47		$	0.68		$	0.64		$	0.41	$	0.69		$	0.68		$	0.60		$	0.40
Diluted	$	0.47		$	0.68		$	0.64		$	0.41	$	0.68		$	0.68		$	0.60		$	0.40
Weighted average shares outstanding
Basic	22,509,050			22,382,139			21,945,129			21,490,882		22,308,694			22,370,923			22,439,884			22,465,834
Diluted	22,667,539			22,532,213			22,038,905			21,600,568		22,557,326			22,644,884			22,626,746			22,607,102

(1) The Company began including Bags operations within its consolidated operating results on November 30, 2018. See also Note 3. Acquisition for additional information.

(2) Basic and diluted net income per share are computed independently for each of the quarters presented. As a result, the sum of quarterly basic and diluted net income per share information may not equal annual basic and diluted net income per share.