Central Parking Finance Trust PFD TR CV SECS (CRLKP) 10-Q 4 May 23 2023 Q1 Quarterly report Financial data

Cover page

Cover page - shares	3 Months Ended
	Mar. 31, 2023	May 03, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	000-50796
Entity Registrant Name	SP Plus Corporation
Entity Central Index Key	0001059262
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	16-1171179
Entity Address, Address Line One	200 E. Randolph Street, Suite 7700
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60601-7702
City Area Code	312
Local Phone Number	274-2000
Title of 12(b) Security	Common Stock, $0.001 par value per share
Trading Symbol	SP
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		19,630,951

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Assets
Cash and cash equivalents	$ 29.8	$ 12.4
Accounts receivable, net	159	167.7
Prepaid expenses and other current assets	17.2	16.7
Total current assets	206	196.8
Property and equipment, net	63.3	60.2
Right-of-use assets	160.5	166.9
Goodwill	543.3	543.2
Other intangible assets, net	66.1	68.9
Deferred taxes	43.9	44.4
Other noncurrent assets, net	42.4	41
Total noncurrent assets	919.5	924.6
Total assets	1,125.5	1,121.4
Liabilities
Accounts payable	140.4	133.4
Accrued and other current liabilities	108.7	137.6
Short-term lease liabilities	57.1	60.2
Current portion of long-term borrowings	12.3	12.4
Total current liabilities	318.5	343.6
Long-term borrowings, excluding current portion	364.5	331.8
Long-term lease liabilities	150.5	158.5
Other noncurrent liabilities	66.7	61.8
Total noncurrent liabilities	581.7	552.1
Total liabilities	900.2	895.7
Stockholders’ equity
Preferred stock, par value $0.01 per share; 5,000,000 shares authorized as of March 31, 2023 and December 31, 2022, respectively; no shares issued or outstanding	0	0
Common stock, par value $0.001 per share; 50,000,000 shares authorized as of March 31, 2023 and December 31, 2022; 23,425,135 and 19,630,393 shares issued and outstanding as of March 31, 2023, respectively, and 23,276,329 and 19,767,287 shares issued and outstanding as of December 31, 2022, respectively	0	0
Treasury stock, at cost; 3,794,742 and 3,509,042 shares as of March 31, 2023 and December 31, 2022, respectively	(130.5)	(120)
Additional paid-in capital	275.3	274.2
Accumulated other comprehensive loss	(1.6)	(1.8)
Retained earnings	82	73.6
Total SP Plus Corporation stockholders’ equity	225.2	226
Noncontrolling interest	0.1	(0.3)
Total stockholders’ equity	225.3	225.7
Total liabilities and stockholders’ equity	$ 1,125.5	$ 1,121.4

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Statement Of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	23,425,135	23,276,329
Common stock, shares outstanding (in shares)	19,630,393	19,767,287
Treasury stock, shares (in shares)	3,794,742	3,509,042

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Services revenue	$ 425.3	$ 349.8
Cost of services (exclusive of depreciation and amortization)	367	298.4
General and administrative expenses	30.6	24.5
Depreciation and amortization	8.4	6.8
Operating income	19.3	20.1
Other expense (income)
Interest expense	6.8	4.8
Interest income	(0.1)	(0.2)
Total other expenses	6.7	4.6
Earnings before income taxes	12.6	15.5
Income tax expense	3.3	4.2
Net income	9.3	11.3
Less: Net income attributable to noncontrolling interest	0.9	0.6
Net income attributable to SP Plus Corporation	$ 8.4	$ 10.7
Net income per common share
Basic (in dollars per share)	$ 0.43	$ 0.50
Diluted (in dollars per share)	$ 0.42	$ 0.50
Weighted average shares outstanding
Basic (in shares)	19,701,426	21,226,952
Diluted (in shares)	19,867,300	21,338,299
Lease and Management Type Contracts
Services revenue	$ 216.3	$ 184.4
Cost of services (exclusive of depreciation and amortization)	158	133
Lease Type Contracts
Services revenue	68.2	62.6
Cost of services (exclusive of depreciation and amortization)	55.2	52
Management Type Contracts
Services revenue	148.1	121.8
Cost of services (exclusive of depreciation and amortization)	102.8	81
Reimbursed Management Type Contract Revenue
Services revenue	209	165.4
Cost of services (exclusive of depreciation and amortization)	$ 209	$ 165.4

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 9.3	$ 11.3
Reclassification of de-designated interest rate collars		0.4
Foreign currency translation gain	0.2	0.1
Comprehensive income	9.5	11.8
Less: Comprehensive income attributable to noncontrolling interest	0.9	0.6
Comprehensive income attributable to SP Plus Corporation	$ 8.6	$ 11.2

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Millions	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Loss	Retained Earnings (Accumulated Deficit)	Treasury Stock	Noncontrolling Interest
Beginning balance (deficit) at Dec. 31, 2021	$ 222.1	$ 0	$ 267.5	$ (2.8)	$ (28.4)	$ (70.6)	$ (0.4)
Beginning balance (deficit) (in shares) at Dec. 31, 2021		23,224,459
Net income	11.3				10.7		0.6
Foreign currency translation	0.1			0.1
Reclassification of de-designated interest rate collars	0.4			0.4
Issuance of restricted stock units	0
Issuance of restricted stock units (in shares)		37,235
Non-cash stock-based compensation	1.8		1.8
Distributions to noncontrolling interest	(0.5)						(0.5)
Ending balance (deficit) at Mar. 31, 2022	235.2		269.3	(2.3)	39.1	(70.6)	(0.3)
Ending balance (deficit) (in shares) at Mar. 31, 2022		23,261,694
Beginning balance (deficit) at Dec. 31, 2022	$ 225.7		274.2	(1.8)	73.6	(120)	(0.3)
Beginning balance (deficit) (in shares) at Dec. 31, 2022	19,767,287	23,276,329
Net income	$ 9.3				8.4		0.9
Foreign currency translation	0.2			0.2
Issuance of restricted stock units	(0.4)		(0.4)
Issuance of restricted stock units (in shares)		148,806
Non-cash stock-based compensation	2.2		2.2
Noncontrolling interest buyout	(0.7)		(0.7)
Repurchases of common stock	(10.5)					(10.5)
Distributions to noncontrolling interest	(0.5)						(0.5)
Ending balance (deficit) at Mar. 31, 2023	$ 225.3		$ 275.3	$ (1.6)	$ 82	$ (130.5)	$ 0.1
Ending balance (deficit) (in shares) at Mar. 31, 2023	19,630,393	23,425,135

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating activities
Net income	$ 9.3	$ 11.3
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	8.4	6.8
Non-cash stock-based compensation	2.2	1.8
Provisions (reversals) for credit losses on accounts receivable	0.2	(0.3)
Deferred income taxes	0.8	1.2
Other	(1.6)	0.9
Changes in operating assets and liabilities
Accounts and notes receivable	8.6	3.9
Prepaid expenses and other current assets	(0.5)	18.9
Accounts payable	7	0
Accrued liabilities and other	(26.7)	(18.1)
Net cash provided by operating activities	7.7	26.4
Investing activities
Purchases of property and equipment	(6.7)	(2.3)
Proceeds from sale of equipment	0	0.1
Noncontrolling interest buyout	(2.1)	0
Net cash used in investing activities	(8.8)	(2.2)
Financing activities
Proceeds from credit facility revolver	169.7	108.7
Payments on credit facility revolver	(135.8)	(118.3)
Payments on credit facility term loan	(1.3)	(4.2)
Payments on other long-term borrowings	(1.9)	(2.3)
Payments of withholding taxes on share-based compensation	(0.4)	0
Distributions to noncontrolling interest	(0.5)	(0.5)
Repurchases of common stock	(11.1)	0
Net cash (used in) financing activities	18.7	(16.6)
Effect of exchange rate changes on cash and cash equivalents	(0.2)	0.1
Increase in cash and cash equivalents	17.4	7.7
Cash and cash equivalents at beginning of year	12.4	15.7
Cash and cash equivalents at end of period	29.8	23.4
Cash paid (received) during the period for
Interest	6.6	4.5
Income taxes, net	$ 0.1	$ (20.6)

Significant Accounting Policies

Significant Accounting Policies and Practices	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Significant Accounting Policies and Practices	1. Significant Accounting Policies and Practices The Company SP Plus Corporation (the "Company") blends industry-leading technology and best-in-class operations to deliver mobility solutions that enable the efficient movement of people, vehicles and personal belongings. The Company is committed to elevating the consumer experience while meeting the objectives of its diverse client base in North America and Europe. The Company is a leading provider of technology-driven mobility solutions for aviation, commercial, hospitality and institutional clients. The Company typically enters into contractual agreements with property owners or managers as opposed to owning facilities. Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, certain information and disclosures normally included in the financial statements have been condensed or omitted as permitted by such rules and regulations. All adjustments (consisting only of adjustments of a normal and recurring nature) considered necessary for a fair presentation have been included. Operating results during the three months ended March 31, 2023 are not necessarily indicative of the results to be expected for any other interim period or the fiscal year ending December 31, 2023. The financial statements presented in this report should be read in conjunction with the Company’s annual Consolidated Financial Statements and notes thereto included in the Annual Report on Form 10-K for the year ended December 31, 2022 filed on February 24, 2023 with the Securities and Exchange Commission. Principles of Consolidation The unaudited Condensed Consolidated Financial Statements include the accounts of the Company, its wholly owned subsidiaries, and Variable Interest Entities ("VIEs") in which the Company is the primary beneficiary. The Company is the primary beneficiary of a VIE when the Company has the power to direct activities that most significantly affect the economic performance of the VIE. If the Company is not the primary beneficiary in a VIE, the Company accounts for the investment in the VIE in accordance with applicable U.S. GAAP. As of March 31, 2023 and December 31, 2022 , assets related to consolidated VIEs were $ 54.4 million and $ 57.1 million, respectively, which were primarily related to right-of-use (“ROU”) assets and property and equipment, net. As of March 31, 2023 and December 31, 2022 , liabilities related to consolidated VIEs were $ 49.7 million and $ 50.9 million, respectively, which were primarily related to operating and finance lease liabilities. All intercompany profits, transactions and balances have been eliminated in consolidation. Cash and Cash Equivalents Cash equivalents represent funds temporarily invested in money market instruments with maturities of three months or less. Cash equivalents are stated at cost, which approximates fair value. Cash and cash equivalents that are restricted as to withdrawal or use under the terms of certain contractual agreements were $ 0.7 million and $ 0.6 million as of March 31, 2023 and December 31, 2022 , respectively, and were included in Cash and cash equivalents within the Condensed Consolidated Balance Sheets. Allowance for Doubtful Accounts Accounts receivable, net of the allowance for doubtful accounts, represents the Company’s estimate of the amount that ultimately will be realized in cash. The Company reviews the adequacy of its allowance for doubtful accounts on an ongoing basis, primarily using a review of specific accounts, as well as historical collection trends and aging of receivables, and records adjustments to the allowance as necessary. The Company’s allowance for doubtful accounts, which was included in Accounts receivable, net, within the Condensed Consolidated Balance Sheets, was $ 3.9 million and $ 4.0 million as of March 31, 2023 and December 31, 2022, respectively. Property and Equipment, Net Property and equipment includes the Company's equipment, internal-use software, vehicles, leasehold improvements and construction/development in process. Property and equipment are stated at cost, less accumulated depreciation and amortization, whenever applicable. Certain costs incurred in the planning and evaluation stage of internal-use software projects are recorded to expense as incurred. Costs associated with directly obtaining, developing or upgrading internal-use software are capitalized and included as Software in Property and equipment, net, within the Condensed Consolidated Balance Sheets. When the internal-use software is ready for its intended use, it is amortized on a straight-line basis over the estimated useful life of the internal-use software, which is typically 3 years . Equipment and vehicles are depreciated on a straight-line basis over the estimated useful lives ranging from 1 to 10 years . Expenditures for major renewals and improvements that extend the useful life of property and equipment are capitalized. Leasehold improvements are amortized on a straight-line basis over the terms of the respective leases or the useful lives of the improvements, whichever is shorter. Equity Investments in Unconsolidated Entities The Company has ownership interests in 34 active partnerships, joint ventures or similar arrangements that operate parking facilities, of which 28 are consolidated under the VIE or voting interest models and 6 are unconsolidated where the Company’s ownership interests range from 30 - 50 percent and for which there are no indicators of control. The Company accounts for such investments under the equity method of accounting, and the Company’s underlying share of each investee’s equity of $ 12.1 million and $ 11.9 million as of March 31, 2023 and December 31, 2022 , respectively, was included in Other noncurrent assets within the Condensed Consolidated Balance Sheets. As the operations of these entities are consistent with the Company’s underlying core business operations, the equity in earnings of these investments were included in Services revenue - lease type contracts within the Condensed Consolidated Statements of Income. The equity earnings in these related investments were $ 0.7 million and $ 0.9 million during the three months ended March 31, 2023 and 2022 , respectively. Other Noncurrent Assets Other noncurrent assets consisted of equity investments of unconsolidated entities, advances, deposits and cost of contracts, net, as of March 31, 2023 and December 31, 2022 . Accrued and Other Current Liabilities Accrued and other current liabilities consisted of insurance, accrued rent, compensation, payroll withholdings, property, payroll and other taxes and other accrued expenses as of March 31, 2023 and December 31, 2022 . Noncontrolling Interests Noncontrolling interests represent the noncontrolling holders’ percentage share of income (losses) from the subsidiaries in which the Company holds a controlling interest, but less than 100 percent, ownership interest. The results of these subsidiaries are consolidated and included within the Condensed Consolidated Financial Statements. During the three months ended March 31, 2023 , the Company recorded a $ 1.0 million liability related to its estimate of additional consideration (“contingent consideration") due to a former minority partner that formerly held a noncontrolling interest in a joint venture with the Company. The Company purchased the minority partner’s interest in the joint venture in 2020. The contingent consideration is contingent on the performance of the operations of the Bradley International Airport. The contingent consideration is not capped and, if any amount is due, would be payable to the former minority partner in April 2025. The $ 1.0 million was determined based on a probability weighting of potential payouts and recorded in Additional paid-in capital within the Condensed Consolidated Balance Sheets. In addition, the Company recorded a deferred tax asset of $ 0.3 million related to the contingent consideration during the three months ended March 31, 2023, which was recorded in Additional paid-in capital within the Condensed Consolidated Balance Sheets. The Company will continue to evaluate the criteria for making these payments in the future and adjust the liability when deemed necessary. Additionally, during the three months ended March 31, 2023 , the Company paid a former minority partner $ 2.1 million per the terms of an agreement between the Company and the former minority partner. The Company purchased the former minority partner’s entire noncontrolling interest in a joint venture with the Company as of December 31, 2022. Per the terms of the agreement, the Company will be required to make additional payments to the former minority partner over a ten-year period, amounting to a total of $ 4.5 million. The $ 2.1 million that was paid during the three months ended March 31, 2023 was included in Accrued and other current liabilities within the Condensed Consolidated Balance Sheets as of December 31, 2022. Goodwill Goodwill represents the excess of the purchase price paid over the fair value of net assets acquired. In accordance with the Financial Accounting Standards Board's ("FASB") authoritative accounting guidance on goodwill, the Company evaluates goodwill for impairment on an annual basis, or more often if events or circumstances change that could cause goodwill to become impaired. The Company has elected to assess the impairment of goodwill annually on October 1 or at an interim date if there is an event or change in circumstances indicating the carrying value may not be recoverable. The goodwill impairment test is performed at the reporting unit level; the Company's reporting units represent its operating segments, consisting of Commercial and Aviation. Factors that could trigger an impairment review include significant under-performance relative to expected historical or projected future operating results, significant changes in the use of acquired assets or the Company’s business strategy, and significant negative industry or economic trends. The Company may perform a qualitative, rather than quantitative, assessment to determine whether it is more likely than not the fair value of a reporting unit is less than its carrying amount. If the Company determines impairment is present, the Company would need to perform a quantitative assessment. The determination of fair value of a reporting unit utilizes cash flow projections that assume certain future revenue and cost levels, comparable marketplace data, comparable company market valuations, assumed discount rates based upon current market conditions and other valuation factors, all of which involve the use of significant judgment and estimates. The Company also assesses critical areas that may impact its business, including economic conditions, market related exposures, competition, changes in service offerings and changes in key personnel. Other Intangible Assets, net Other intangible assets represent assets with finite lives that are amortized on a straight-line basis over their estimated useful lives. The Company evaluates other intangible assets on a periodic basis to determine whether events or circumstances warrant a revision to their remaining useful lives. In addition, other intangible assets are reviewed for impairment when circumstances change that would indicate the carrying value may not be recoverable. Assumptions and estimates about future values and remaining useful lives of intangible assets are complex and subjective, and can be affected by a variety of factors, including external factors such as industry and economic trends, and internal factors, such as changes in the Company's business strategy and forecasts. Although the Company believes the historical assumptions and estimates are reasonable and appropriate, different assumptions and estimates could materially impact reported financial results. Long-Lived Assets The Company evaluates long-lived assets, including ROU assets, leasehold improvements, equipment and construction/development in progress, for impairment whenever events or circumstances indicate that the carrying value of an asset or asset group may not be recoverable. The Company groups assets at the lowest level for which cash flows are separately identified in order to measure an impairment. Events or circumstances that would result in an impairment review include a significant change in the use of an asset, the planned sale or disposal of an asset, or a projection that demonstrates continuing losses associated with the use of a long-lived asset or asset group. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the asset or asset group to future undiscounted cash flows expected to be generated by the asset or asset group. If the asset or asset group is determined to be impaired, the impairment recognized is measured by the amount by which the carrying value of the asset or asset group exceeds its fair value. Assumptions and estimates used to determine cash flows in the evaluation of impairment and the fair values used to determine the impairment are subject to a degree of judgment and complexity. Any future changes to the assumptions and estimates resulting from changes in actual results or market conditions from those anticipated may affect the carrying value of long-lived assets or asset groups and could result in impairment charges. Future events that may result in impairment charges include economic volatility or other factors that could decrease revenues and profitability of existing locations and changes in the cost structure of existing facilities, such as increasing labor and benefit costs. Foreign Operations The Company has foreign operations in Canada, Puerto Rico, the United Kingdom and India. Assets and liabilities of the Company’s foreign operations are translated into U.S. dollars at the rate in effect on the respective balance sheet date, while income and expenses are translated at the average rates during the respective periods. Translation adjustments resulting from the fluctuations in exchange rates are recorded as a separate component of accumulated other comprehensive loss in stockholders’ equity within the Condensed Consolidated Balance Sheets, while transaction gains and losses are recorded within the Condensed Consolidated Statements of Income. Deferred taxes are not recorded on cumulative foreign currency translation adjustments when the Company expects the foreign earnings to be permanently reinvested.

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2023
Business Combinations [Abstract]
Acquisitions	2. Acquisitions On October 11, 2022 , the Company acquired K M P Associates Limited ("KMP"), a United Kingdom based software and technology provider serving aviation and commercial parking clients, primarily through its Aeroparker technology, throughout the United States and Europe, for approximately $ 13.8 million, less cash acquired of $ 0.9 million, and assumed KMP's debt of $ 0.3 million. Immediately following the acquisition, the Company repaid all of the debt assumed. KMP's operations are included in the Aviation segment. On November 10, 2022 , the Company acquired certain assets of DiVRT, Inc. ("DIVRT"), a developer of innovative software and technology solutions that enables frictionless parking capabilities, for approximately $ 17.6 million. In addition, the Company may be required to pay the former owner of DIVRT a maximum amount of $ 7.0 million in contingent consideration if certain targets related to the number of the Company's locations using the DIVRT technology are met by October 31, 2025. Based on a probability weighting of potential payouts, the Company accrued $ 4.0 million in projected contingent consideration as of the acquisition date, which was determined to be Level 3 under the fair value hierarchy. The Company's estimate of the potential payout increased to $ 4.2 million from $ 4.1 million as of March 31, 2023 and December 31, 2022 , respectively. The increases were due to the changes in the present value of the estimated payout. The Company recorded $ 0.1 million of operating expense within the Condensed Consolidated Statements of Income during the three months ended March 31, 2023 related to the change in the present value. The Company will continue to evaluate the potential payouts in the future and adjust the contingent consideration for any changes in the estimated fair value each reporting period. DIVRT's operations are included in the Commercial segment. Both acquisitions enhance the Company's position as a global provider of frictionless technology solutions that are independent of the Company's legacy parking management and transportation related operations. The acquisitions of KMP and DIVRT have been accounted for as business combinations, and the assets acquired and liabilities assumed were recorded at their estimated fair values as of the acquisition dates. Goodwill was measured as the excess of the consideration over the assets acquired, including other intangible assets, less liabilities assumed, based on their estimated fair values at the acquisition dates. Tax deductible goodwill related to the acquisitions was $ 10.1 million. The results of each acquisition's operations are reflected in the Condensed Consolidated Financial Statements from the date of acquisition. The acquisitions contributed $ 1.6 million of services revenue and a loss before income taxes of $ 0.9 million, primarily due to the amortization related to the acquired other intangible assets, during the three months ended March 31, 2023. The Company believes the information gathered to date provides a reasonable basis for estimating the fair values of assets acquired and liabilities assumed, however, the provisional measurements of fair value for the other intangible assets and goodwill of KMP and DIVRT are subject to change. As a result, during the measurement period, which may be up to one year from the acquisition dates, adjustments to assets and liabilities assumed will be recorded with corresponding adjustments to goodwill. The Company expects to complete the purchase price allocation for the KMP and DIVRT acquisitions as soon as practicable but no later than one year from the acquisition date. The estimated fair values of the assets acquired and liabilities assumed based on the information that was available as of the acquisition dates were as follows: (millions) Cash and cash equivalents $ 0.9 Accounts receivable 0.7 Prepaid expenses and other current assets 0.1 Other intangible assets 21.7 Goodwill 16.3 ROU asset 0.1 Accounts payable ( 0.1 ) Accrued and other current liabilities ( 1.5 ) Deferred tax liability ( 2.5 ) Other long-term borrowings ( 0.3 ) Net assets acquired and liabilities assumed 35.4 Less: cash and cash equivalents acquired 0.9 Less: contingent consideration payable 4.0 Net cash paid $ 30.5 In addition to the acquisitions discussed above, on April 18, 2022, the Company acquired certain other intangible assets for a purchase price of $ 1.8 million. As discussed above, during the year ended December 31, 2022, the Company recorded additions to other intangible assets of $ 23.5 million. The other intangible assets acquired were recorded at their estimated fair value on the acquisition dates as follows: (millions) Estimated Life Estimated Fair Value Proprietary know how 7.4 Years $ 17.3 Customer relationships 5.8 Years 3.2 Trade names 13.2 Years 1.8 Covenant not to compete 4.2 Years 1.2 Estimated fair value of identified intangible assets $ 23.5 The fair values of other intangible assets acquired were determined to be Level 3 under the fair value hierarchy. The fair value estimate for all identifiable intangible assets is based on assumptions that market participants would use in pricing an asset, based on the most advantageous market for the asset. The estimated fair values of the Proprietary know how were determined using the multi-period excess earnings method under the income approach utilizing projected financial information for each technology that was acquired. The estimated fair value of the customer relationships was determined using the distributor method and excess earnings method under the income approach. The estimated fair values of the trade names were determined using the relief from royalty savings method under the income approach. The Company considered the return on assets and market comparable methods when estimating an appropriate royalty rate for the trade names.

Leases

Leases	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Leases	3. Leases The Company leases parking facilities, office space, warehouses, vehicles and equipment and determines if an arrangement is a lease at inception. The Company subleases certain real estate to third parties. The Company's sublease portfolio consists of operating leases for space within leased parking facilities. As discussed in Note 1. Significant Accounting Policies and Practices , the Company tests ROU assets when impairment indicators are present. The Company recorded rent concessions as a reduction in Cost of services - lease type contracts of $ 1.3 million and $ 2.2 million during the three months ended March 31, 2023 and 2022, respectively. The components of ROU assets and lease liabilities and the classification within the Condensed Consolidated Balance Sheets as of March 31, 2023 (unaudited) and December 31, 2022 were as follows: (millions) Classification March 31, 2023 December 31, 2022 Assets Operating Right-of-use assets $ 160.5 $ 166.9 Finance Property and equipment, net 24.5 24.4 Total leased assets $ 185.0 $ 191.3 Liabilities Current Operating Short-term lease liabilities $ 57.1 $ 60.2 Finance Current portion of long-term borrowings 7.1 7.2 Noncurrent Operating Long-term lease liabilities 150.5 158.5 Finance Long-term borrowings, excluding current portion 15.9 16.0 Total lease liabilities $ 230.6 $ 241.9 The components of lease cost and classification within the Condensed Consolidated Statements of Income during the three months ended March 31, 2023 and 2022 (unaudited) were as follows: Three Months Ended (millions) Classification March 31, 2023 March 31, 2022 Operating lease cost (a)(b) Cost of services - lease type contracts $ 13.8 $ 15.1 Short-term lease (a) Cost of services - lease type contracts 4.9 5.1 Variable lease Cost of services - lease type contracts 18.2 14.5 Operating lease cost 36.9 34.7 Finance lease cost Amortization of leased assets Depreciation and amortization 1.6 1.3 Interest on lease liabilities Interest expense 0.3 0.2 Net lease cost $ 38.8 $ 36.2 (a) Included expense related to leases for office space recorded in General and administrative expenses within the Condensed Consolidated Statements of Income of $ 1.0 million during the three months ended March 31, 2023 and 2022. (b) Included rent concessions amounting to $ 1.3 million and $ 2.2 million during the three months ended March 31, 2023 and 2022 , respectively. Sublease income was $ 0.5 and $ 0.3 million during the three months ended March 31, 2023 and 2022, respectively. The Company entered into new operating lease arrangements as of March 31, 2023 that commence in future periods. The total amount of ROU assets and lease liabilities related to these arrangements were immaterial. Maturities, lease term and discount rate information of lease liabilities as of March 31, 2023 (unaudited) were as follows: (millions) Operating Finance Total 2023 $ 53.3 $ 6.3 $ 59.6 2024 55.7 6.6 62.3 2025 42.9 4.5 47.4 2026 33.5 3.4 36.9 2027 20.9 1.8 22.7 After 2027 44.7 3.0 47.7 Total lease payments 251.0 25.6 276.6 Less: Imputed interest 43.4 2.6 46.0 Present value of lease liabilities $ 207.6 $ 23.0 $ 230.6 Weighted-average remaining lease term (years) 5.2 4.3 Weighted-average discount rate 5.3 % 4.9 % Future sublease income for the above periods shown was excluded, as the amounts are not material. Supplemental cash flow information related to leases during the three months ended March 31, 2023 and 2022 (unaudited) was as follows: Three Months Ended (millions) March 31, 2023 March 31, 2022 Cash paid for amounts included in the measurement of lease liabilities Operating cash outflows related to operating leases $ 20.8 $ 23.4 Operating cash outflows related to interest on finance leases 0.3 0.2 Financing cash outflows related to finance leases 1.9 1.7 Leased assets obtained in exchange for new operating liabilities 7.8 2.8 Leased assets obtained in exchange for new finance lease liabilities 1.7 3.7

Revenue

Revenue	3 Months Ended
	Mar. 31, 2023
Revenue From Contract With Customer [Abstract]
Revenue	4. Revenue The Company recognizes revenue when control of the promised goods or services is transferred to customers at an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. Contracts with customers and clients The Company accounts for a contract when it has the approval and commitment from both parties, the rights of the parties are identified, the payment terms are identified, the contract has commercial substance and collectability of consideration is probable. Once a contract is identified, the Company evaluates whether the contract should be accounted for as more than one performance obligation. Substantially all of the Company’s revenues come from the following two types of arrangements: Lease type and Management type contracts. Lease type contracts Lease type contract revenue includes gross receipts (net of local taxes), consulting fees, gains on sales of contracts and payments for exercising termination rights. Performance obligations related to lease type contracts include parking for transient and monthly parkers. Revenue is recognized over time as the Company provides services. Under lease type arrangements, the Company pays the property owner a fixed base rent, percentage rent that is tied to the facility’s financial performance, or a combination of both. The Company operates the parking facility and is responsible for most operating expenses, but typically is not responsible for major maintenance, capital expenditures or real estate taxes. Certain expenses, primarily rental expense for the contractual arrangements that meet the definition of service concession arrangements, are recorded as a reduction of revenue . Management type contracts Management type contract revenue consists of management fees, including both fixed and performance-based fees. In exchange for this consideration, the Company may have a bundle of integrated services that comprise one performance obligation and include services such as managing the facility, as well as ancillary services such as accounting, equipment leasing, consulting, insurance and other value-added services. Management type contract revenues do not include gross customer collections at the managed facilities as these revenues belong to the property owners rather than the Company. Management type contracts generally provide the Company with management fees regardless of the operating performance of the underlying facilities. Revenue is recognized over time as the Company provides services. Service concession arrangements Certain expenses (primarily rental expense), as well as depreciation and amortization, related to service concessions arrangements for lease type contracts, are recorded as a reduction of Service revenue - lease type contracts. The Company recorded $ 2.9 million and $ 3.2 million of cost concessions related to service concession arrangements (recognized as an increase to revenue) during the three months ended March 31, 2023 and 2022, respectively. Disaggregation of revenue The Company disaggregates its revenue from contracts with customers by type of arrangement for each of the reportable segments. The Company has concluded that such disaggregation of revenue best depicts the overall economic nature, timing and uncertainty of the Company's revenue and cash flows affected by the economic factors of the respective contractual arrangement. See Note 13. Segment Information for further information on disaggregation of the Company's revenue by segment. Performance obligations As of March 31, 2023 , the Company had $ 188.1 million related to performance obligations that were unsatisfied or partially unsatisfied for which the Company expects to recognize revenue. This amount excludes variable consideration primarily related to contracts where the Company and customer share the gross revenues or operating profit for the location and contracts where transaction prices include performance incentives that are constrained at contract inception. These performance incentives are based on measures that are ascertained exclusively by future performance and therefore cannot be estimated at contract inception by the Company. The Company applies the practical expedient that permits exclusion of information about the remaining performance obligations that have original expected durations of one year or less. The Company expects to recognize the remaining performance obligations as revenue in future periods as follows: (millions) (unaudited) Remaining 2023 $ 57.1 2024 51.5 2025 29.9 2026 21.7 2027 10.8 2028 and thereafter 17.1 Total $ 188.1 Contract balances Contract assets and liabilities are reported on a contract-by-contract basis and are included in Accounts and notes receivable, net, and Accrued and other current liabilities, respectively, within the Condensed Consolidated Balance Sheets. The following table provides information about accounts receivable, contract assets and contract liabilities with customers and clients as of March 31, 2023 (unaudited) and December 31, 2022: (millions) March 31, 2023 December 31, 2022 Accounts receivable $ 162.4 $ 169.9 Contract asset 0.5 1.8 Contract liabilities ( 9.9 ) ( 17.4 ) Changes in contract assets, which include the recognition of additional consideration due from the client, are offset by reclassifications of contract asset balances to accounts receivable when the Company obtains an unconditional right to consideration, thereby establishing an accounts receivable. The following table provides information about changes to contract assets during the three months ended March 31, 2023 and 2022 (unaudited): Three Months Ended (millions) March 31, 2023 March 31, 2022 Balance, beginning of period $ 1.8 $ 2.3 Additional contract assets 0.5 — Reclassification to accounts receivable ( 1.8 ) ( 2.3 ) Balance, end of period $ 0.5 $ — Changes in contract liabilities primarily include additional contract liabilities and reductions of contract liabilities when revenue is recognized. The following table provides information about changes to contract liabilities during the three months ended March 31, 2023 and 2022 (unaudited): Three Months Ended (millions) March 31, 2023 March 31, 2022 Balance, beginning of period $ ( 17.4 ) $ ( 15.7 ) Additional contract liabilities ( 9.6 ) ( 8.2 ) Recognition of revenue from contract liabilities 17.1 15.7 Balance, end of period $ ( 9.9 ) $ ( 8.2 ) Cost of contracts, net Cost of contracts expense related to service concession arrangements and certain management type contracts are recorded as a reduction of revenue. Cost of contracts expense during three months ended March 31, 2023 and 2022 (unaudited), which was included as a reduction to Services revenue within the Condensed Consolidated Statements of Income, was as follows: Three Months Ended (millions) March 31, 2023 March 31, 2022 Cost of contracts expense $ 0.2 $ 0.2 As of March 31, 2023 (unaudited) and December 31, 2022, cost of contracts, net of accumulated amortization, included in Other noncurrent assets within the Condensed Consolidated Balance Sheets was $ 2.9 million .

Legal and Other Commitments and

Legal and Other Commitments and Contingencies	3 Months Ended
	Mar. 31, 2023
Commitments And Contingencies Disclosure [Abstract]
Legal and Other Commitments and Contingencies	5. Legal and Other Commitments and Contingencies The Company is subject to claims and litigation in the normal course of its business, including those related to labor and employment, contracts, personal injury and other related matters, some of which allege substantial monetary damages and claims. Some of these actions may be brought as class actions on behalf of a class or purported class of employees. While the outcomes of claims and legal proceedings brought against the Company are subject to uncertainty, the Company believes the final outcome will not have a material adverse effect on its financial position, results of operations or cash flows. The Company accrues a charge when it determines that it is probable that an asset has been impaired or a liability has been incurred and the amount of loss can be reasonably estimated. When a loss is probable, the Company records an accrual based on the reasonably estimable loss or range of loss. When no point of loss is more likely than another, the Company records the lowest amount in the estimated range of loss, and if material, discloses the estimated range. The Company does no t record liabilities for reasonably possible loss contingencies, but does disclose a range of reasonably possible losses if they are material and the Company is able to estimate such a range. If the Company cannot provide a range of reasonably possible losses, it explains the factors that prevent it from determining such a range. The Company regularly evaluates current information available to determine whether an accrual should be established or adjusted. Estimating the probability that a loss will occur and the amount of a loss or a range of loss involves significant estimation and judgment.

Other Intangible Assets, net

Other Intangible Assets, net	3 Months Ended
	Mar. 31, 2023
Goodwill And Intangible Assets Disclosure [Abstract]
Other Intangible Assets, net	6. Other Intangible Assets, net The components of other intangible assets, net, as of March 31, 2023 (unaudited) and December 31, 2022, were as follows: March 31, 2023 December 31, 2022 (millions) Weighted Intangible Accumulated Intangible Intangible Accumulated Intangible Covenant not to compete 3.3 $ 2.9 $ ( 1.6 ) $ 1.3 $ 2.9 $ ( 1.4 ) $ 1.5 Trade names and trademarks 11.6 2.9 ( 0.8 ) 2.1 2.8 ( 0.7 ) 2.1 Proprietary know how 6.6 21.8 ( 3.5 ) 18.3 21.7 ( 2.7 ) 19.0 Management contract rights 6.1 81.0 ( 54.2 ) 26.8 81.0 ( 52.9 ) 28.1 Customer relationships 8.4 24.8 ( 7.2 ) 17.6 24.8 ( 6.6 ) 18.2 Other intangible assets, net 7.0 $ 133.4 $ ( 67.3 ) $ 66.1 $ 133.2 $ ( 64.3 ) $ 68.9 Amortization expense related to other intangible assets during the three months ended March 31, 2023 and 2022, (unaudited), respectively, which was included in Depreciation and amortization within the Condensed Consolidated Statements of Income, was as follows: Three Months Ended (millions) March 31, 2023 March 31, 2022 Amortization expense $ 3.0 $ 2.8

Goodwill

Goodwill	3 Months Ended
	Mar. 31, 2023
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill	7. Goodwill The changes in the carrying amount of goodwill during the three months ended March 31, 2023 (unaudited) were as follows: (millions) Commercial Aviation Total Net book value as of December 31, 2022 Goodwill $ 387.0 $ 215.7 $ 602.7 Accumulated impairment losses — ( 59.5 ) ( 59.5 ) Total $ 387.0 $ 156.2 $ 543.2 Foreign currency translation — 0.1 0.1 Net book value as of March 31, 2023 Goodwill $ 387.0 $ 215.8 $ 602.8 Accumulated impairment losses — ( 59.5 ) ( 59.5 ) Total $ 387.0 $ 156.3 $ 543.3

Borrowing Arrangements

Borrowing Arrangements	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Borrowing Arrangements	8. Borrowing Arrangements Long-term borrowings, as of March 31, 2023 (unaudited) and December 31, 2022, in order of preference, were as follows: Amount Outstanding (millions) March 31, December 31, Senior Credit Facility, net of original discount on borrowings (1) $ 355.0 $ 322.3 Other borrowings (2) 24.1 24.3 Deferred financing costs ( 2.3 ) ( 2.4 ) Total obligations 376.8 344.2 Less: Current portion of long-term borrowings 12.3 12.4 Total long-term borrowings, excluding current portion $ 364.5 $ 331.8 (1) Included discount on borrowings of $ 1.2 million and $ 1.3 million as of March 31, 2023 and December 31, 2022, respectively. (2) Included finance lease liabilities of $ 23.0 million and $ 23.2 million as of March 31, 2023 and December 31, 2022, respectively. See Note 3. Leases for further discussion. Senior Credit Facility On April 21, 2022 (the “Fifth Amendment Effective Date”), the Company entered into a fifth amendment (the “Fifth Amendment”) to the Company’s credit agreement (as amended prior to the Fifth Amendment Effective Date, the “Credit Agreement”; the Credit Agreement, as amended by the Fifth Amendment, the “Amended Credit Agreement”) with Bank of America, N.A. (“Bank of America”), as Administrative Agent, swing-line lender and a letter of credit issuer; certain subsidiaries of the Company, as guarantors; and the lenders party thereto (the “Lenders”), pursuant to which the Lenders have made available to the Company a senior secured credit facility (the “Senior Credit Facility”). The Senior Credit Facility permits aggregate borrowings of $ 600.0 million consisting of (i) a revolving credit facility of up to $ 400.0 million at any time outstanding, which includes a letter of credit facility that is limited to $ 100.0 million at any time outstanding, and (ii) a term loan facility of $ 200.0 million. The maturity date of the Senior Credit Facility is April 21, 2027 . As of March 31, 2023 , the Company was in compliance with its debt covenants under the Amended Credit Agreement. As of March 31, 2023 , the Company had $ 39.0 million of letters of credit outstanding under the Senior Credit Facility and borrowings against the Senior Credit Facility aggregated to $ 356.2 million. The weighted average interest rate on the Company's Senior Credit Facility was 6.3 % and 3.6 % during the three months ended March 31, 2023 and 2022, respectively. That rate included the letters of credit for both years and interest rate collars during the three months ended March 31, 2022 . The weighted average interest rate on all outstanding borrowings, not including letters of credit, was 6.7 % and 3.8 % during the three months ended March 31, 2023 and 2022, respectively. Subordinated Convertible Debentures The Company acquired Subordinated Convertible Debentures ("Convertible Debentures") as a result of the October 2, 2012 acquisition of Central Parking Corporation. As of October 2, 2012, the convertible debentures were no longer redeemable for shares. The Convertible Debentures mature April 1, 2028 at $ 25 per share. The subordinated debenture holders have the right to redeem the Convertible Debentures for $ 19.18 per share upon acceleration or earlier repayment of the Convertible Debentures. There have been no redemptions of the Convertible Debentures during the periods ended March 31, 2023 and December 31, 2022, respectively. The approximate redemption value of the Convertible Debentures outstanding as of March 31, 2023 and December 31, 2022 was $ 1.1 million.

Stock Repurchase Program

Stock Repurchase Program	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Stock Repurchase Program	9. Stock Repurchase Program On February 14, 2023, the Company's Board of Directors (the "Board") authorized the Company to repurchase, on the open market, shares of the Company's outstanding common stock in an amount not to exceed $ 60.0 million. No shares have been repurchased under this program. In May 2022, the Board authorized the Company to repurchase, on the open market, shares of the Company’s outstanding common stock in an amount not to exceed $ 60.0 million in aggregate. During the three months ended March 31, 2023 , 285,700 shares were repurchased at an average price of $ 36.53 per share under this program. As of March 31, 2023 , $ 0.2 million remained available for repurchase under this program. Stock repurchase activity under the May 2022 stock repurchase program during the three months ended March 31, 2023 (unaudited) was as follows: Three Months Ended (millions, except for share and per share data) March 31, 2023 March 31, 2022 Total number of shares repurchased 285,700 — Average price paid per share $ 36.53 $ — Total value of common stock repurchased $ 10.4 $ — The Company recorded $ 0.1 million in additional paid-in capital within the Condensed Consolidated Balance Sheets during the three months ended March 31, 2023, related to the excise tax on net repurchases of common stock that was a provision of the Inflation Reduction Act of 2022. The remaining authorized repurchase amount under the May 2022 and February 2023 stock repurchase programs as of March 31, 2023 (unaudited), was as follows: (millions) March 31, 2023 Total authorized repurchase amount $ 120.0 Total value of shares repurchased 59.8 Total remaining authorized repurchase amount $ 60.2

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2023
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	10. Stock-Based Compensation Restricted Stock Units During the three months ended March 31, 2023 , the Company granted 126,931 restricted stock units to certain executives that vest over three years . During the three months ended March 31, 2022 , the Company granted 1,057 and 132,730 restricted stock units to certain executives and employees that vest over one and three years , respectively. Nonvested restricted stock units as of March 31, 2023, and changes during the three months ended March 31, 2023 (unaudited) were as follows: Shares Weighted Average Grant-Date Fair Value Nonvested as of December 31, 2022 338,448 $ 33.28 Granted 126,931 34.57 Vested ( 8,426 ) 35.95 Nonvested as of March 31, 2023 456,953 $ 33.62 The Company's stock-based compensation expense related to the restricted stock units during the three months ended March 31, 2023 and 2022 (unaudited), which was included in General and administrative expenses within the Condensed Consolidated Statements of Income, was as follows: Three Months Ended (millions) March 31, 2023 March 31, 2022 Stock-based compensation expense $ 1.1 $ 1.3 As of March 31, 2023 , there was $ 9.6 million of unrecognized stock-based compensation expense related to restricted stock units that are expected to be recognized over a weighted average remaining period of approximately 2.2 years. Performance Share Units (“PSUs”) During the three months ended March 31, 2023 and 2022 , the Company granted 126,921 and 132,710 PSUs, respectively, to certain executives. The performance target is based on the achievement of a certain level of operating income, excluding depreciation and amortization, as well as certain other discretionary adjustments by the Board, over three-year performance periods. The ultimate number of shares issued could change depending on the Company’s results over the performance period. The maximum amount of shares that could be issued for the PSU's granted in 2023 ("2023 PSUs"), the PSU's granted in 2022 ("2022 PSUs") and the PSU's granted in 2021 ("2021 PSUs") are 253,842 , 258,114 and 97,096 , respectively. The Company is currently recognizing expense for the 2023 PSUs based on a payout of 130,729 shares, the 2022 PSUs based on a payout of 197,457 shares, and the maximum payout of 97,096 shares for the 2021 PSUs. Nonvested PSUs as of March 31, 2023, and changes during the three months ended March 31, 2023 (unaudited), were as follows: Shares Weighted Average Grant-Date Fair Value Nonvested as of December 31, 2022 177,605 $ 31.94 Granted 126,921 34.57 Nonvested as of March 31, 2023 304,526 $ 33.04 The Company's stock-based compensation expense related to PSUs during the three months ended March 31, 2023 and 2022 (unaudited), which was included in General and administrative expenses within the Condensed Consolidated Statements of Income, was as follows: Three Months Ended (millions) March 31, 2023 March 31, 2022 Stock-based compensation expense $ 1.1 $ 0.5 As of March 31, 2023 , there was $ 9.0 million of unrecognized stock-based compensation expenses related to PSUs that are expected to be recognized over a weighted average remaining period of approximately 2.1 years. In addition, the Company could recognize additional future stock-based compensation expense of $ 4.3 million and $ 1.9 million for the 2023 PSUs and the 2022 PSUs, respectively, if the maximum performance target is achieved for each award.

Net Income per Common Share

Net Income per Common Share	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Net Income per Common Share	11. Net Income per Common Share Basic net income per common share is computed by dividing net income by the weighted daily average number of shares of common stock outstanding during the period. Diluted net income per common share is based upon the weighted daily average number of shares of common stock outstanding during 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. Basic and diluted net income per common share and a reconciliation of the weighted average basic common shares outstanding to the weighted average diluted common shares outstanding during the three months ended March 31, 2023 and 2022 (unaudited) was as follows: Three Months Ended (millions, except share and per share data) March 31, 2023 March 31, 2022 Net income attributable to SP Plus Corporation $ 8.4 $ 10.7 Basic weighted average common shares outstanding 19,701,426 21,226,952 Dilutive impact of share-based awards 165,874 111,347 Diluted weighted average common shares outstanding 19,867,300 21,338,299 Net income per common share Basic $ 0.43 $ 0.50 Diluted $ 0.42 $ 0.50 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 common share, other than those disclosed.

Comprehensive Income

Comprehensive Income	3 Months Ended
	Mar. 31, 2023
Comprehensive Income Net Of Tax [Abstract]
Comprehensive Income	12. Comprehe nsive Income The components of other comprehensive income and the income tax benefit allocated to each component during the three months ended March 31, 2023 and 2022 (unaudited) were as follows: Three Months Ended (millions) Before Tax Amount Income Tax Net of Tax Amount Translation adjustments $ 0.2 $ — $ 0.2 Other comprehensive income $ 0.2 $ — $ 0.2 Three Months Ended (millions) Before Tax Amount Income Tax Net of Tax Amount Translation adjustments $ 0.1 $ — $ 0.1 De-designation of interest rate collars 0.6 0.2 0.4 Other comprehensive income $ 0.7 $ 0.2 $ 0.5 The changes to accumulated other comprehensive loss by component during the three months ended March 31, 2023 (unaudited), were as follows: (millions) Foreign Total Accumulated Balance as of December 31, 2022 $ ( 1.8 ) $ ( 1.8 ) Other comprehensive income before reclassification 0.2 0.2 Balance as of March 31, 2023 $ ( 1.6 ) $ ( 1.6 ) The changes to accumulated other comprehensive loss by component during the three months ended March 31, 2022 (unaudited), were as follows: (millions) Foreign Interest Rate Collars Total Accumulated Balance as of December 31, 2021 $ ( 2.3 ) $ ( 0.5 ) $ ( 2.8 ) Other comprehensive income before reclassification 0.1 — 0.1 Amounts reclassified from accumulated other comprehensive loss — 0.4 0.4 Balance as of March 31, 2022 $ ( 2.2 ) $ ( 0.1 ) $ ( 2.3 ) Reclassifications from accumulated other comprehensive loss during the three months ended March 31, 2023 and 2022 (unaudited) were as follows: (millions) Three Months Ended Classification in the Condensed Consolidated Statements of Income Interest Rate Collars: 2023 2022 Net realized loss $ — $ 0.6 Other expenses Reclassifications before tax — 0.6 Income tax benefit — 0.2 Reclassifications, net of tax $ — $ 0.4

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Segment Information	13. Segment Information Segment information is presented in accordance with a “management approach,” which designates the internal reporting used by the Company's Chief Operating Decision Maker (“CODM”) for making decisions and assessing performance as the source of the Company’s reportable segments. The Company’s segments are organized in a manner consistent with which discrete financial information is available and evaluated regularly by the CODM in deciding how to allocate resources and assess performance. An operating segment is defined as a component of an enterprise that engages in business activities from which it may earn revenue and incur expenses, and about which separate financial information is regularly evaluated by the CODM. The CODM is the Company’s chief executive officer. Each of the operating segments are directly responsible for revenue and expenses related to their operations, including direct segment general and administrative expenses. The CODM assesses the performance of each operating segment using information about operating income (loss) as its primary measure of performance, but does not evaluate segments using discrete asset information. Therefore, assets are not presented at the segment level. There are no inter-segment transactions during the three months ended March 31, 2023 and 2022, and the Company does not allocate other expense (income), interest expense (income) or income tax expense (benefit) to the operating segments. The accounting policies for segment reporting are the same as for the Company as a whole. The Company’s operating segments are Commercial and Aviation: • Commercial encompasses the Company's services in healthcare facilities, municipalities, including meter revenue collection and enforcement services, government facilities, hotels, commercial real estate, residential communities, retail, colleges and universities, as well as ancillary services such as providing technology-based mobility solutions, shuttle and ground transportation services, valet services, taxi and livery dispatch services and event planning, including shuttle and transportation services. • Aviation encompasses the Company's services in aviation (i.e., airports, airline and certain hospitality clients with baggage and parking services) as well as ancillary services, which include shuttle and ground transportation services, valet services, baggage handling, baggage repair and replacement, remote air check-in services, wheelchair assist services and other services, as well as providing technology-based mobility solutions. The Other segment includes costs related to the Company’s operational support teams and costs related to common and shared infrastructure, including finance, accounting, information technology, human resources, procurement and purchasing, legal and corporate development. Revenue, operating income (loss), general and administrative expenses and depreciation and amortization by operating segment during the three months ended March 31, 2023 and 2022 (unaudited) were as follows: Three Months Ended (millions) March 31, 2023 March 31, 2022 Services revenue Commercial Lease type contracts $ 64.6 $ 59.2 Management type contracts 79.8 72.0 Total Commercial 144.4 131.2 Aviation Lease type contracts 3.6 3.4 Management type contracts 68.3 49.8 Total Aviation 71.9 53.2 Reimbursed management type contract revenue 209.0 165.4 Total services revenue $ 425.3 $ 349.8 Operating income (loss) Commercial $ 31.2 $ 28.6 Aviation 8.6 8.1 Other ( 20.5 ) ( 16.6 ) Total operating income $ 19.3 $ 20.1 General and administrative expenses Commercial $ 8.2 $ 6.1 Aviation 3.9 2.7 Other 18.5 15.7 Total general and administrative expenses $ 30.6 $ 24.5 Depreciation and amortization Commercial (1) $ 3.6 $ 3.0 Aviation (2) 2.8 2.9 Other 2.0 0.9 Total depreciation and amortization $ 8.4 $ 6.8 (1) Included depreciation and amortization expenses related to cost of services activities of $ 1.9 million and $ 1.8 million during the three months ended March 31, 2023 and 2022, respectively. (2) Included depreciation and amortization expenses related to cost of service activities of $ 1.3 million and $ 1.1 million during the three months ended March 31, 2023 and 2022 , respectively.

Significant Accounting Polici_2

Significant Accounting Policies and Practices (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, certain information and disclosures normally included in the financial statements have been condensed or omitted as permitted by such rules and regulations. All adjustments (consisting only of adjustments of a normal and recurring nature) considered necessary for a fair presentation have been included. Operating results during the three months ended March 31, 2023 are not necessarily indicative of the results to be expected for any other interim period or the fiscal year ending December 31, 2023. The financial statements presented in this report should be read in conjunction with the Company’s annual Consolidated Financial Statements and notes thereto included in the Annual Report on Form 10-K for the year ended December 31, 2022 filed on February 24, 2023 with the Securities and Exchange Commission.
Principles of Consolidation	Principles of Consolidation The unaudited Condensed Consolidated Financial Statements include the accounts of the Company, its wholly owned subsidiaries, and Variable Interest Entities ("VIEs") in which the Company is the primary beneficiary. The Company is the primary beneficiary of a VIE when the Company has the power to direct activities that most significantly affect the economic performance of the VIE. If the Company is not the primary beneficiary in a VIE, the Company accounts for the investment in the VIE in accordance with applicable U.S. GAAP. As of March 31, 2023 and December 31, 2022 , assets related to consolidated VIEs were $ 54.4 million and $ 57.1 million, respectively, which were primarily related to right-of-use (“ROU”) assets and property and equipment, net. As of March 31, 2023 and December 31, 2022 , liabilities related to consolidated VIEs were $ 49.7 million and $ 50.9 million, respectively, which were primarily related to operating and finance lease liabilities. All intercompany profits, transactions and balances have been eliminated in consolidation.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash equivalents represent funds temporarily invested in money market instruments with maturities of three months or less. Cash equivalents are stated at cost, which approximates fair value. Cash and cash equivalents that are restricted as to withdrawal or use under the terms of certain contractual agreements were $ 0.7 million and $ 0.6 million as of March 31, 2023 and December 31, 2022 , respectively, and were included in Cash and cash equivalents within the Condensed Consolidated Balance Sheets.
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts Accounts receivable, net of the allowance for doubtful accounts, represents the Company’s estimate of the amount that ultimately will be realized in cash. The Company reviews the adequacy of its allowance for doubtful accounts on an ongoing basis, primarily using a review of specific accounts, as well as historical collection trends and aging of receivables, and records adjustments to the allowance as necessary. The Company’s allowance for doubtful accounts, which was included in Accounts receivable, net, within the Condensed Consolidated Balance Sheets, was $ 3.9 million and $ 4.0 million as of March 31, 2023 and December 31, 2022, respectively.
Property and Equipment, Net	Property and Equipment, Net Property and equipment includes the Company's equipment, internal-use software, vehicles, leasehold improvements and construction/development in process. Property and equipment are stated at cost, less accumulated depreciation and amortization, whenever applicable. Certain costs incurred in the planning and evaluation stage of internal-use software projects are recorded to expense as incurred. Costs associated with directly obtaining, developing or upgrading internal-use software are capitalized and included as Software in Property and equipment, net, within the Condensed Consolidated Balance Sheets. When the internal-use software is ready for its intended use, it is amortized on a straight-line basis over the estimated useful life of the internal-use software, which is typically 3 years . Equipment and vehicles are depreciated on a straight-line basis over the estimated useful lives ranging from 1 to 10 years . Expenditures for major renewals and improvements that extend the useful life of property and equipment are capitalized. Leasehold improvements are amortized on a straight-line basis over the terms of the respective leases or the useful lives of the improvements, whichever is shorter.
Equity Investments in Unconsolidated Entities	Equity Investments in Unconsolidated Entities The Company has ownership interests in 34 active partnerships, joint ventures or similar arrangements that operate parking facilities, of which 28 are consolidated under the VIE or voting interest models and 6 are unconsolidated where the Company’s ownership interests range from 30 - 50 percent and for which there are no indicators of control. The Company accounts for such investments under the equity method of accounting, and the Company’s underlying share of each investee’s equity of $ 12.1 million and $ 11.9 million as of March 31, 2023 and December 31, 2022 , respectively, was included in Other noncurrent assets within the Condensed Consolidated Balance Sheets. As the operations of these entities are consistent with the Company’s underlying core business operations, the equity in earnings of these investments were included in Services revenue - lease type contracts within the Condensed Consolidated Statements of Income. The equity earnings in these related investments were $ 0.7 million and $ 0.9 million during the three months ended March 31, 2023 and 2022 , respectively.
Other Noncurrent Assets	Other Noncurrent Assets Other noncurrent assets consisted of equity investments of unconsolidated entities, advances, deposits and cost of contracts, net, as of March 31, 2023 and December 31, 2022 .
Accrued and Other Current Liabilities	Accrued and Other Current Liabilities Accrued and other current liabilities consisted of insurance, accrued rent, compensation, payroll withholdings, property, payroll and other taxes and other accrued expenses as of March 31, 2023 and December 31, 2022 .
Noncontrolling Interests	Noncontrolling Interests Noncontrolling interests represent the noncontrolling holders’ percentage share of income (losses) from the subsidiaries in which the Company holds a controlling interest, but less than 100 percent, ownership interest. The results of these subsidiaries are consolidated and included within the Condensed Consolidated Financial Statements. During the three months ended March 31, 2023 , the Company recorded a $ 1.0 million liability related to its estimate of additional consideration (“contingent consideration") due to a former minority partner that formerly held a noncontrolling interest in a joint venture with the Company. The Company purchased the minority partner’s interest in the joint venture in 2020. The contingent consideration is contingent on the performance of the operations of the Bradley International Airport. The contingent consideration is not capped and, if any amount is due, would be payable to the former minority partner in April 2025. The $ 1.0 million was determined based on a probability weighting of potential payouts and recorded in Additional paid-in capital within the Condensed Consolidated Balance Sheets. In addition, the Company recorded a deferred tax asset of $ 0.3 million related to the contingent consideration during the three months ended March 31, 2023, which was recorded in Additional paid-in capital within the Condensed Consolidated Balance Sheets. The Company will continue to evaluate the criteria for making these payments in the future and adjust the liability when deemed necessary. Additionally, during the three months ended March 31, 2023 , the Company paid a former minority partner $ 2.1 million per the terms of an agreement between the Company and the former minority partner. The Company purchased the former minority partner’s entire noncontrolling interest in a joint venture with the Company as of December 31, 2022. Per the terms of the agreement, the Company will be required to make additional payments to the former minority partner over a ten-year period, amounting to a total of $ 4.5 million. The $ 2.1 million that was paid during the three months ended March 31, 2023 was included in Accrued and other current liabilities within the Condensed Consolidated Balance Sheets as of December 31, 2022.
Goodwill	Goodwill Goodwill represents the excess of the purchase price paid over the fair value of net assets acquired. In accordance with the Financial Accounting Standards Board's ("FASB") authoritative accounting guidance on goodwill, the Company evaluates goodwill for impairment on an annual basis, or more often if events or circumstances change that could cause goodwill to become impaired. The Company has elected to assess the impairment of goodwill annually on October 1 or at an interim date if there is an event or change in circumstances indicating the carrying value may not be recoverable. The goodwill impairment test is performed at the reporting unit level; the Company's reporting units represent its operating segments, consisting of Commercial and Aviation. Factors that could trigger an impairment review include significant under-performance relative to expected historical or projected future operating results, significant changes in the use of acquired assets or the Company’s business strategy, and significant negative industry or economic trends. The Company may perform a qualitative, rather than quantitative, assessment to determine whether it is more likely than not the fair value of a reporting unit is less than its carrying amount. If the Company determines impairment is present, the Company would need to perform a quantitative assessment. The determination of fair value of a reporting unit utilizes cash flow projections that assume certain future revenue and cost levels, comparable marketplace data, comparable company market valuations, assumed discount rates based upon current market conditions and other valuation factors, all of which involve the use of significant judgment and estimates. The Company also assesses critical areas that may impact its business, including economic conditions, market related exposures, competition, changes in service offerings and changes in key personnel.
Other Intangible Assets, Net	Other Intangible Assets, net Other intangible assets represent assets with finite lives that are amortized on a straight-line basis over their estimated useful lives. The Company evaluates other intangible assets on a periodic basis to determine whether events or circumstances warrant a revision to their remaining useful lives. In addition, other intangible assets are reviewed for impairment when circumstances change that would indicate the carrying value may not be recoverable. Assumptions and estimates about future values and remaining useful lives of intangible assets are complex and subjective, and can be affected by a variety of factors, including external factors such as industry and economic trends, and internal factors, such as changes in the Company's business strategy and forecasts. Although the Company believes the historical assumptions and estimates are reasonable and appropriate, different assumptions and estimates could materially impact reported financial results.
Long-Lived Assets	Long-Lived Assets The Company evaluates long-lived assets, including ROU assets, leasehold improvements, equipment and construction/development in progress, for impairment whenever events or circumstances indicate that the carrying value of an asset or asset group may not be recoverable. The Company groups assets at the lowest level for which cash flows are separately identified in order to measure an impairment. Events or circumstances that would result in an impairment review include a significant change in the use of an asset, the planned sale or disposal of an asset, or a projection that demonstrates continuing losses associated with the use of a long-lived asset or asset group. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the asset or asset group to future undiscounted cash flows expected to be generated by the asset or asset group. If the asset or asset group is determined to be impaired, the impairment recognized is measured by the amount by which the carrying value of the asset or asset group exceeds its fair value. Assumptions and estimates used to determine cash flows in the evaluation of impairment and the fair values used to determine the impairment are subject to a degree of judgment and complexity. Any future changes to the assumptions and estimates resulting from changes in actual results or market conditions from those anticipated may affect the carrying value of long-lived assets or asset groups and could result in impairment charges. Future events that may result in impairment charges include economic volatility or other factors that could decrease revenues and profitability of existing locations and changes in the cost structure of existing facilities, such as increasing labor and benefit costs.
Foreign Operations	Foreign Operations The Company has foreign operations in Canada, Puerto Rico, the United Kingdom and India. Assets and liabilities of the Company’s foreign operations are translated into U.S. dollars at the rate in effect on the respective balance sheet date, while income and expenses are translated at the average rates during the respective periods. Translation adjustments resulting from the fluctuations in exchange rates are recorded as a separate component of accumulated other comprehensive loss in stockholders’ equity within the Condensed Consolidated Balance Sheets, while transaction gains and losses are recorded within the Condensed Consolidated Statements of Income. Deferred taxes are not recorded on cumulative foreign currency translation adjustments when the Company expects the foreign earnings to be permanently reinvested.

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2023
Business Combinations [Abstract]
Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed	The estimated fair values of the assets acquired and liabilities assumed based on the information that was available as of the acquisition dates were as follows: (millions) Cash and cash equivalents $ 0.9 Accounts receivable 0.7 Prepaid expenses and other current assets 0.1 Other intangible assets 21.7 Goodwill 16.3 ROU asset 0.1 Accounts payable ( 0.1 ) Accrued and other current liabilities ( 1.5 ) Deferred tax liability ( 2.5 ) Other long-term borrowings ( 0.3 ) Net assets acquired and liabilities assumed 35.4 Less: cash and cash equivalents acquired 0.9 Less: contingent consideration payable 4.0 Net cash paid $ 30.5
Schedule of Other Assets Acquired were Recorded at their Estimated Fair Value	The other intangible assets acquired were recorded at their estimated fair value on the acquisition dates as follows: (millions) Estimated Life Estimated Fair Value Proprietary know how 7.4 Years $ 17.3 Customer relationships 5.8 Years 3.2 Trade names 13.2 Years 1.8 Covenant not to compete 4.2 Years 1.2 Estimated fair value of identified intangible assets $ 23.5

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Schedule of Components of ROU Assets and Lease Liabilities	The components of ROU assets and lease liabilities and the classification within the Condensed Consolidated Balance Sheets as of March 31, 2023 (unaudited) and December 31, 2022 were as follows: (millions) Classification March 31, 2023 December 31, 2022 Assets Operating Right-of-use assets $ 160.5 $ 166.9 Finance Property and equipment, net 24.5 24.4 Total leased assets $ 185.0 $ 191.3 Liabilities Current Operating Short-term lease liabilities $ 57.1 $ 60.2 Finance Current portion of long-term borrowings 7.1 7.2 Noncurrent Operating Long-term lease liabilities 150.5 158.5 Finance Long-term borrowings, excluding current portion 15.9 16.0 Total lease liabilities $ 230.6 $ 241.9
Schedule of Components of Lease Cost	The components of lease cost and classification within the Condensed Consolidated Statements of Income during the three months ended March 31, 2023 and 2022 (unaudited) were as follows: Three Months Ended (millions) Classification March 31, 2023 March 31, 2022 Operating lease cost (a)(b) Cost of services - lease type contracts $ 13.8 $ 15.1 Short-term lease (a) Cost of services - lease type contracts 4.9 5.1 Variable lease Cost of services - lease type contracts 18.2 14.5 Operating lease cost 36.9 34.7 Finance lease cost Amortization of leased assets Depreciation and amortization 1.6 1.3 Interest on lease liabilities Interest expense 0.3 0.2 Net lease cost $ 38.8 $ 36.2 (a) Included expense related to leases for office space recorded in General and administrative expenses within the Condensed Consolidated Statements of Income of $ 1.0 million during the three months ended March 31, 2023 and 2022. (b) Included rent concessions amounting to $ 1.3 million and $ 2.2 million during the three months ended March 31, 2023 and 2022 , respectively.
Schedule of Maturities of Lease Liabilities	Maturities, lease term and discount rate information of lease liabilities as of March 31, 2023 (unaudited) were as follows: (millions) Operating Finance Total 2023 $ 53.3 $ 6.3 $ 59.6 2024 55.7 6.6 62.3 2025 42.9 4.5 47.4 2026 33.5 3.4 36.9 2027 20.9 1.8 22.7 After 2027 44.7 3.0 47.7 Total lease payments 251.0 25.6 276.6 Less: Imputed interest 43.4 2.6 46.0 Present value of lease liabilities $ 207.6 $ 23.0 $ 230.6 Weighted-average remaining lease term (years) 5.2 4.3 Weighted-average discount rate 5.3 % 4.9 %
Schedule of Supplemental Cash Flow Information Related to Leases	Supplemental cash flow information related to leases during the three months ended March 31, 2023 and 2022 (unaudited) was as follows: Three Months Ended (millions) March 31, 2023 March 31, 2022 Cash paid for amounts included in the measurement of lease liabilities Operating cash outflows related to operating leases $ 20.8 $ 23.4 Operating cash outflows related to interest on finance leases 0.3 0.2 Financing cash outflows related to finance leases 1.9 1.7 Leased assets obtained in exchange for new operating liabilities 7.8 2.8 Leased assets obtained in exchange for new finance lease liabilities 1.7 3.7

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2023
Revenue From Contract With Customer [Abstract]
Schedule of Remaining Performance Obligations	The Company expects to recognize the remaining performance obligations as revenue in future periods as follows: (millions) (unaudited) Remaining 2023 $ 57.1 2024 51.5 2025 29.9 2026 21.7 2027 10.8 2028 and thereafter 17.1 Total $ 188.1
Schedule of Contract with Customer, Asset and Liabilities	The following table provides information about accounts receivable, contract assets and contract liabilities with customers and clients as of March 31, 2023 (unaudited) and December 31, 2022: (millions) March 31, 2023 December 31, 2022 Accounts receivable $ 162.4 $ 169.9 Contract asset 0.5 1.8 Contract liabilities ( 9.9 ) ( 17.4 ) Changes in contract assets, which include the recognition of additional consideration due from the client, are offset by reclassifications of contract asset balances to accounts receivable when the Company obtains an unconditional right to consideration, thereby establishing an accounts receivable. The following table provides information about changes to contract assets during the three months ended March 31, 2023 and 2022 (unaudited): Three Months Ended (millions) March 31, 2023 March 31, 2022 Balance, beginning of period $ 1.8 $ 2.3 Additional contract assets 0.5 — Reclassification to accounts receivable ( 1.8 ) ( 2.3 ) Balance, end of period $ 0.5 $ — Changes in contract liabilities primarily include additional contract liabilities and reductions of contract liabilities when revenue is recognized. The following table provides information about changes to contract liabilities during the three months ended March 31, 2023 and 2022 (unaudited): Three Months Ended (millions) March 31, 2023 March 31, 2022 Balance, beginning of period $ ( 17.4 ) $ ( 15.7 ) Additional contract liabilities ( 9.6 ) ( 8.2 ) Recognition of revenue from contract liabilities 17.1 15.7 Balance, end of period $ ( 9.9 ) $ ( 8.2 )
Schedule of Cost of Contracts Expense	Cost of contracts expense related to service concession arrangements and certain management type contracts are recorded as a reduction of revenue. Cost of contracts expense during three months ended March 31, 2023 and 2022 (unaudited), which was included as a reduction to Services revenue within the Condensed Consolidated Statements of Income, was as follows: Three Months Ended (millions) March 31, 2023 March 31, 2022 Cost of contracts expense $ 0.2 $ 0.2

Other Intangible Assets, net (T

Other Intangible Assets, net (Tables)	3 Months Ended
	Mar. 31, 2023
Goodwill And Intangible Assets Disclosure [Abstract]
Components of Intangible Assets, Net	The components of other intangible assets, net, as of March 31, 2023 (unaudited) and December 31, 2022, were as follows: March 31, 2023 December 31, 2022 (millions) Weighted Intangible Accumulated Intangible Intangible Accumulated Intangible Covenant not to compete 3.3 $ 2.9 $ ( 1.6 ) $ 1.3 $ 2.9 $ ( 1.4 ) $ 1.5 Trade names and trademarks 11.6 2.9 ( 0.8 ) 2.1 2.8 ( 0.7 ) 2.1 Proprietary know how 6.6 21.8 ( 3.5 ) 18.3 21.7 ( 2.7 ) 19.0 Management contract rights 6.1 81.0 ( 54.2 ) 26.8 81.0 ( 52.9 ) 28.1 Customer relationships 8.4 24.8 ( 7.2 ) 17.6 24.8 ( 6.6 ) 18.2 Other intangible assets, net 7.0 $ 133.4 $ ( 67.3 ) $ 66.1 $ 133.2 $ ( 64.3 ) $ 68.9
Summary of Amortization of Other Intangible Assets	Amortization expense related to other intangible assets during the three months ended March 31, 2023 and 2022, (unaudited), respectively, which was included in Depreciation and amortization within the Condensed Consolidated Statements of Income, was as follows: Three Months Ended (millions) March 31, 2023 March 31, 2022 Amortization expense $ 3.0 $ 2.8

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
	Mar. 31, 2023
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Amounts of Goodwill	The changes in the carrying amount of goodwill during the three months ended March 31, 2023 (unaudited) were as follows: (millions) Commercial Aviation Total Net book value as of December 31, 2022 Goodwill $ 387.0 $ 215.7 $ 602.7 Accumulated impairment losses — ( 59.5 ) ( 59.5 ) Total $ 387.0 $ 156.2 $ 543.2 Foreign currency translation — 0.1 0.1 Net book value as of March 31, 2023 Goodwill $ 387.0 $ 215.8 $ 602.8 Accumulated impairment losses — ( 59.5 ) ( 59.5 ) Total $ 387.0 $ 156.3 $ 543.3

Borrowing Arrangements (Tables)

Borrowing Arrangements (Tables)	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of Long-Term Borrowings	Long-term borrowings, as of March 31, 2023 (unaudited) and December 31, 2022, in order of preference, were as follows: Amount Outstanding (millions) March 31, December 31, Senior Credit Facility, net of original discount on borrowings (1) $ 355.0 $ 322.3 Other borrowings (2) 24.1 24.3 Deferred financing costs ( 2.3 ) ( 2.4 ) Total obligations 376.8 344.2 Less: Current portion of long-term borrowings 12.3 12.4 Total long-term borrowings, excluding current portion $ 364.5 $ 331.8 (1) Included discount on borrowings of $ 1.2 million and $ 1.3 million as of March 31, 2023 and December 31, 2022, respectively. (2) Included finance lease liabilities of $ 23.0 million and $ 23.2 million as of March 31, 2023 and December 31, 2022, respectively. See Note 3. Leases for further discussion.

Stock Repurchase Program (Table

Stock Repurchase Program (Tables)	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Summary of Share Repurchase Activity and Remaining Authorized Repurchase Amounts	Stock repurchase activity under the May 2022 stock repurchase program during the three months ended March 31, 2023 (unaudited) was as follows: Three Months Ended (millions, except for share and per share data) March 31, 2023 March 31, 2022 Total number of shares repurchased 285,700 — Average price paid per share $ 36.53 $ — Total value of common stock repurchased $ 10.4 $ — The remaining authorized repurchase amount under the May 2022 and February 2023 stock repurchase programs as of March 31, 2023 (unaudited), was as follows: (millions) March 31, 2023 Total authorized repurchase amount $ 120.0 Total value of shares repurchased 59.8 Total remaining authorized repurchase amount $ 60.2

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2023
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Nonvested Restricted Stock Units and Changes During the Period	Nonvested restricted stock units as of March 31, 2023, and changes during the three months ended March 31, 2023 (unaudited) were as follows: Shares Weighted Average Grant-Date Fair Value Nonvested as of December 31, 2022 338,448 $ 33.28 Granted 126,931 34.57 Vested ( 8,426 ) 35.95 Nonvested as of March 31, 2023 456,953 $ 33.62
Schedule of Stock-Based Compensation Expense	The Company's stock-based compensation expense related to the restricted stock units during the three months ended March 31, 2023 and 2022 (unaudited), which was included in General and administrative expenses within the Condensed Consolidated Statements of Income, was as follows: Three Months Ended (millions) March 31, 2023 March 31, 2022 Stock-based compensation expense $ 1.1 $ 1.3 The Company's stock-based compensation expense related to PSUs during the three months ended March 31, 2023 and 2022 (unaudited), which was included in General and administrative expenses within the Condensed Consolidated Statements of Income, was as follows: Three Months Ended (millions) March 31, 2023 March 31, 2022 Stock-based compensation expense $ 1.1 $ 0.5
Summary of Nonvested PSU's and Changes During the Period	Nonvested PSUs as of March 31, 2023, and changes during the three months ended March 31, 2023 (unaudited), were as follows: Shares Weighted Average Grant-Date Fair Value Nonvested as of December 31, 2022 177,605 $ 31.94 Granted 126,921 34.57 Nonvested as of March 31, 2023 304,526 $ 33.04

Net Income per Common Share (Ta

Net Income per Common Share (Tables)	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Net Income per Common Share and Reconciliation of Weighted Average Shares	Basic and diluted net income per common share and a reconciliation of the weighted average basic common shares outstanding to the weighted average diluted common shares outstanding during the three months ended March 31, 2023 and 2022 (unaudited) was as follows: Three Months Ended (millions, except share and per share data) March 31, 2023 March 31, 2022 Net income attributable to SP Plus Corporation $ 8.4 $ 10.7 Basic weighted average common shares outstanding 19,701,426 21,226,952 Dilutive impact of share-based awards 165,874 111,347 Diluted weighted average common shares outstanding 19,867,300 21,338,299 Net income per common share Basic $ 0.43 $ 0.50 Diluted $ 0.42 $ 0.50

Comprehensive Income (Tables)

Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2023
Comprehensive Income Net Of Tax [Abstract]
Components of Other Comprehensive Income and Income Tax Benefit Allocated	The components of other comprehensive income and the income tax benefit allocated to each component during the three months ended March 31, 2023 and 2022 (unaudited) were as follows: Three Months Ended (millions) Before Tax Amount Income Tax Net of Tax Amount Translation adjustments $ 0.2 $ — $ 0.2 Other comprehensive income $ 0.2 $ — $ 0.2 Three Months Ended (millions) Before Tax Amount Income Tax Net of Tax Amount Translation adjustments $ 0.1 $ — $ 0.1 De-designation of interest rate collars 0.6 0.2 0.4 Other comprehensive income $ 0.7 $ 0.2 $ 0.5
Components of Accumulated Other Comprehensive Loss	The changes to accumulated other comprehensive loss by component during the three months ended March 31, 2023 (unaudited), were as follows: (millions) Foreign Total Accumulated Balance as of December 31, 2022 $ ( 1.8 ) $ ( 1.8 ) Other comprehensive income before reclassification 0.2 0.2 Balance as of March 31, 2023 $ ( 1.6 ) $ ( 1.6 ) The changes to accumulated other comprehensive loss by component during the three months ended March 31, 2022 (unaudited), were as follows: (millions) Foreign Interest Rate Collars Total Accumulated Balance as of December 31, 2021 $ ( 2.3 ) $ ( 0.5 ) $ ( 2.8 ) Other comprehensive income before reclassification 0.1 — 0.1 Amounts reclassified from accumulated other comprehensive loss — 0.4 0.4 Balance as of March 31, 2022 $ ( 2.2 ) $ ( 0.1 ) $ ( 2.3 )
Reclassification from Accumulated Other Comprehensive Loss	Reclassifications from accumulated other comprehensive loss during the three months ended March 31, 2023 and 2022 (unaudited) were as follows: (millions) Three Months Ended Classification in the Condensed Consolidated Statements of Income Interest Rate Collars: 2023 2022 Net realized loss $ — $ 0.6 Other expenses Reclassifications before tax — 0.6 Income tax benefit — 0.2 Reclassifications, net of tax $ — $ 0.4

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Schedule of Segment Information by Regions	Revenue, operating income (loss), general and administrative expenses and depreciation and amortization by operating segment during the three months ended March 31, 2023 and 2022 (unaudited) were as follows: Three Months Ended (millions) March 31, 2023 March 31, 2022 Services revenue Commercial Lease type contracts $ 64.6 $ 59.2 Management type contracts 79.8 72.0 Total Commercial 144.4 131.2 Aviation Lease type contracts 3.6 3.4 Management type contracts 68.3 49.8 Total Aviation 71.9 53.2 Reimbursed management type contract revenue 209.0 165.4 Total services revenue $ 425.3 $ 349.8 Operating income (loss) Commercial $ 31.2 $ 28.6 Aviation 8.6 8.1 Other ( 20.5 ) ( 16.6 ) Total operating income $ 19.3 $ 20.1 General and administrative expenses Commercial $ 8.2 $ 6.1 Aviation 3.9 2.7 Other 18.5 15.7 Total general and administrative expenses $ 30.6 $ 24.5 Depreciation and amortization Commercial (1) $ 3.6 $ 3.0 Aviation (2) 2.8 2.9 Other 2.0 0.9 Total depreciation and amortization $ 8.4 $ 6.8 (1) Included depreciation and amortization expenses related to cost of services activities of $ 1.9 million and $ 1.8 million during the three months ended March 31, 2023 and 2022, respectively. (2) Included depreciation and amortization expenses related to cost of service activities of $ 1.3 million and $ 1.1 million during the three months ended March 31, 2023 and 2022 , respectively.

Significant Accounting Polici_3

Significant Accounting Policies and Practices - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($) Partnership Voting_interest_model_entity Variable_interest_entity	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)
Significant Accounting Policies and Practices
Assets related to consolidated VIEs	$ 1,125.5		$ 1,121.4
Liabilities related to consolidated VIEs	900.2		895.7
Restricted cash and cash equivalents	0.7		0.6
Allowance for doubtful accounts included in accounts receivable, net	$ 3.9		4
Number of ownership interest entities | Partnership	34
Investments under the equity method of accounting	$ 12.1		11.9
Equity earnings in related investments	0.7	$ 0.9
Contingent cosideration liability	1
Probability weighting of potential payouts	1
Deferred tax assets	0.3
Payment to former minority partner	$ 2.1
Former minority partner payments term	10 years
Additional payment to former minority partner	$ 4.5
Minority partner payment included in accrued and other current liabilities	$ 2.1
Internal-use Software
Significant Accounting Policies and Practices
Property, Plant and Equipment, Useful Life	3 years
Minimum | Equipment [Member]
Significant Accounting Policies and Practices
Property, Plant and Equipment, Useful Life	1 year
Minimum | Unconsolidated Entities
Significant Accounting Policies and Practices
Ownership interests percentage	30%
Maximum | Equipment [Member]
Significant Accounting Policies and Practices
Property, Plant and Equipment, Useful Life	10 years
Maximum | Unconsolidated Entities
Significant Accounting Policies and Practices
Ownership interests percentage	50%
Primary Beneficiary
Significant Accounting Policies and Practices
Assets related to consolidated VIEs	$ 54.4		57.1
Liabilities related to consolidated VIEs	$ 49.7		$ 50.9
Number of ownership interest entities | Variable_interest_entity	28
Not Primary Beneficiary
Significant Accounting Policies and Practices
Number of ownership interest entities | Voting_interest_model_entity	6

Acquisition (Additional Informa

Acquisition (Additional Information) (Details) - USD ($) $ in Millions				3 Months Ended		12 Months Ended
	Nov. 10, 2022	Oct. 11, 2022	Apr. 18, 2022	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Business Acquisition [Line Items]
Services revenue				$ 425.3	$ 349.8
Other Intangible Assets
Business Acquisition [Line Items]
Acquired intangible assets at purchasing price			$ 1.8
KMP Associates Limited (KMP)
Business Acquisition [Line Items]
Business Acquisition, Effective Date of Acquisition		Oct. 11, 2022
Business Combination, Consideration Transferred, Total		$ 13.8
Business Combination, Cash Aquired		0.9
Business Combination, Assumption Debt		$ 0.3
Divrt, Inc. (Divrt)
Business Acquisition [Line Items]
Business Acquisition, Effective Date of Acquisition	Nov. 10, 2022
Business Combination, Consideration Transferred, Total	$ 17.6
Maximum Amount Of Contingent Consideration To Former Owner	7
Accrued In Projected Contingent Consideration	$ 4
Estimated Potential Payout				4.2		$ 4.1
Operating expense				0.1
Kmp Associates Limited and Divrt Inc [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents				0.9
Business Acquisition, Goodwill, Expected Tax Deductible Amount				10.1
Acquired intangible assets at purchasing price				23.5		$ 23.5
Kmp Associates Limited and Divrt Inc [Member] | Other Intangible Assets
Business Acquisition [Line Items]
Services revenue				1.6
Loss before income taxes				$ 0.9

Acquisition - Schedule of Estim

Acquisition - Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Goodwill	$ 543.3	$ 543.2
KMP Associates Limited and Divrt, Inc.
Business Acquisition [Line Items]
Cash and cash equivalents	0.9
Accounts receivable	0.7
Prepaid expenses and other current assets	0.1
Other intangible assets	21.7
Goodwill	16.3
ROU asset	0.1
Accounts payable	(0.1)
Accrued and other current liabilities	(1.5)
Deferred tax liability	(2.5)
Other long-term borrowings	(0.3)
Net assets acquired and liabilities assumed	35.4
Less: cash and cash equivalents acquired	0.9
Less: contingent consideration payable	4
Net cash paid	$ 30.5

Acquisition - Schedule of Other

Acquisition - Schedule of Other Assets Acquired were Recorded at their Estimated Fair Value (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Estimated Life	7 years
Proprietary Know How
Business Acquisition [Line Items]
Estimated Life	6 years 7 months 6 days
Customer Relationships
Business Acquisition [Line Items]
Estimated Life	8 years 4 months 24 days
Covenant Not to Compete
Business Acquisition [Line Items]
Estimated Life	3 years 3 months 18 days
KMP Associates Limited and Divrt, Inc.
Business Acquisition [Line Items]
Estimated Fair Value	$ 23.5	$ 23.5
KMP Associates Limited and Divrt, Inc. | Proprietary Know How
Business Acquisition [Line Items]
Estimated Life	7 years 4 months 24 days
Estimated Fair Value	$ 17.3
KMP Associates Limited and Divrt, Inc. | Customer Relationships
Business Acquisition [Line Items]
Estimated Life	5 years 9 months 18 days
Estimated Fair Value	$ 3.2
KMP Associates Limited and Divrt, Inc. | Trade Names
Business Acquisition [Line Items]
Estimated Life	13 years 2 months 12 days
Estimated Fair Value	$ 1.8
KMP Associates Limited and Divrt, Inc. | Covenant Not to Compete
Business Acquisition [Line Items]
Estimated Life	4 years 2 months 12 days
Estimated Fair Value	$ 1.2

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Lessor Lease Description [Line Items]
Rent concessions cares act	$ 1.3	$ 2.2
Sublease income	$ 0.5	$ 0.3

Leases - Schedule of Components

Leases - Schedule of Components of ROU Assets and Lease Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Assets
Right-of-use assets	$ 160.5	$ 166.9
Leasehold improvements, equipment and construction in progress, net	$ 24.5	$ 24.4
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property and equipment, net	Property and equipment, net
Total leased assets	$ 185	$ 191.3
Current
Short-term lease liabilities	57.1	60.2
Current portion of long-term borrowings	$ 7.1	$ 7.2
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Current portion of long-term borrowings	Current portion of long-term borrowings
Noncurrent
Long-term lease liabilities	$ 150.5	$ 158.5
Long-term borrowings, excluding current portion	$ 15.9	$ 16
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Long-term borrowings, excluding current portion	Long-term borrowings, excluding current portion
Total lease liabilities	$ 230.6	$ 241.9

Leases - Schedule of Componen_2

Leases - Schedule of Components of Lease Cost (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Leases [Abstract]
Operating lease cost	$ 13.8	$ 15.1
Short-term lease	4.9	5.1
Variable lease	18.2	14.5
Operating lease cost	36.9	34.7
Amortization of leased assets	1.6	1.3
Interest on lease liabilities	0.3	0.2
Net lease cost	$ 38.8	$ 36.2

Leases - Schedule of Componen_3

Leases - Schedule of Components of Lease Cost (Parenthetical) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Lessor, Lease, Description [Line Items]
Operating lease cost	$ 13.8	$ 15.1
Rent concessions cares act	1.3	2.2
Office Space
Lessor, Lease, Description [Line Items]
Operating lease cost	$ 1	$ 1

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Lease Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Operating Leases Liabilities
2023	$ 53.3
2024	55.7
2025	42.9
2026	33.5
2027	20.9
After 2027	44.7
Total lease payments	251
Less: Imputed interest	43.4
Present value of lease liabilities	$ 207.6
Weighted-average remaining lease term (years)	5 years 2 months 12 days
Weighted-average discount rate	5.30%
Finance Leases Liabilities
2023	$ 6.3
2024	6.6
2025	4.5
2026	3.4
2027	1.8
After 2027	3
Total lease payments	25.6
Less: Imputed interest	2.6
Present value of lease liabilities	$ 23	$ 23.2
Weighted-average remaining lease term (years)	4 years 3 months 18 days
Weighted-average discount rate	4.90%
Total
2023	$ 59.6
2024	62.3
2025	47.4
2026	36.9
2027	22.7
After 2027	47.7
Total lease payments	276.6
Less: Imputed interest	46
Present value of lease liabilities	$ 230.6

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash paid for amounts included in the measurement of lease liabilities
Operating cash outflows related to operating leases	$ 20.8	$ 23.4
Operating cash outflows related to interest on finance leases	0.3	0.2
Financing cash outflows related to finance leases	1.9	1.7
Leased assets obtained in exchange for new operating liabilities	7.8	2.8
Leased assets obtained in exchange for new finance lease liabilities	$ 1.7	$ 3.7

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Revenue From Contract With Customer [Abstract]
Negotiable cost reductions cares act	$ 2.9	$ 3.2
Performance obligation unsatisfied or partially satisfied	188.1
Cost of contracts net of accumulated amortization	$ 2.9		$ 2.9

Revenue - Schedule of Performan

Revenue - Schedule of Performance Obligations (Details) $ in Millions	Mar. 31, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligations	$ 188.1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligations	$ 57.1
Revenue, remaining performance obligation, expected timing of satisfaction, period	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligations	$ 51.5
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligations	$ 29.9
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligations	$ 21.7
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligations	$ 10.8
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligations	$ 17.1
Revenue, remaining performance obligation, expected timing of satisfaction, period

Revenue - Schedule of Perform_2

Revenue - Schedule of Performance Obligations (Details 1) $ in Millions	Mar. 31, 2023 USD ($)
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining Performance Obligations	$ 188.1

Revenue - Schedule of Contract

Revenue - Schedule of Contract Asset and Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Revenue From Contract With Customer [Abstract]
Accounts receivable	$ 162.4	$ 169.9
Contract asset	0.5	1.8	$ 0	$ 2.3
Contract liabilities	$ (9.9)	$ (17.4)	$ (8.2)	$ (15.7)

Revenue - Schedule of Contrac_2

Revenue - Schedule of Contract Assets Balances (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Contract Asset Balances with Customer
Balance, beginning of period	$ 1.8	$ 2.3
Additional contract assets	0.5	0
Reclassification to accounts receivable	(1.8)	(2.3)
Balance, end of period	$ 0.5	$ 0

Revenue - Schedule of Contrac_3

Revenue - Schedule of Contract Liabilities Balances (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Contract Liability Balances with Customer
Balance, beginning of period	$ (17.4)	$ (15.7)
Additional contract liabilities	(9.6)	(8.2)
Recognition of revenue from contract liabilities	17.1	15.7
Balance, end of period	$ (9.9)	$ (8.2)

Revenue - Schedule of Cost of C

Revenue - Schedule of Cost of Contracts Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenue From Contract With Customer [Abstract]
Cost of contracts expense	$ 0.2	$ 0.2

Legal and Other Commitments a_2

Legal and Other Commitments and Contingencies - Narrative (Details) $ in Millions	Mar. 31, 2023 USD ($)
Commitments And Contingencies Disclosure [Abstract]
Liabilities for reasonably possible loss contingencies	$ 0

Other Intangible Assets, net -

Other Intangible Assets, net - Components of Intangible Assets, Net (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Finite Lived Intangible Assets [Line Items]
Weighted Average Life (Years)	7 years
Intangible Assets, Gross	$ 133.4	$ 133.2
Accumulated Amortization	(67.3)	(64.3)
Intangible Assets, Net	$ 66.1	68.9
Covenant Not to Compete
Finite Lived Intangible Assets [Line Items]
Weighted Average Life (Years)	3 years 3 months 18 days
Intangible Assets, Gross	$ 2.9	2.9
Accumulated Amortization	(1.6)	(1.4)
Intangible Assets, Net	$ 1.3	1.5
Trade Names and Trademarks
Finite Lived Intangible Assets [Line Items]
Weighted Average Life (Years)	11 years 7 months 6 days
Intangible Assets, Gross	$ 2.9	2.8
Accumulated Amortization	(0.8)	(0.7)
Intangible Assets, Net	$ 2.1	2.1
Proprietary Know How
Finite Lived Intangible Assets [Line Items]
Weighted Average Life (Years)	6 years 7 months 6 days
Intangible Assets, Gross	$ 21.8	21.7
Accumulated Amortization	(3.5)	(2.7)
Intangible Assets, Net	$ 18.3	19
Management Contract Rights
Finite Lived Intangible Assets [Line Items]
Weighted Average Life (Years)	6 years 1 month 6 days
Intangible Assets, Gross	$ 81	81
Accumulated Amortization	(54.2)	(52.9)
Intangible Assets, Net	$ 26.8	28.1
Customer Relationships
Finite Lived Intangible Assets [Line Items]
Weighted Average Life (Years)	8 years 4 months 24 days
Intangible Assets, Gross	$ 24.8	24.8
Accumulated Amortization	(7.2)	(6.6)
Intangible Assets, Net	$ 17.6	$ 18.2

Other Intangible Assets, net _2

Other Intangible Assets, net - Summary of Amortization of Other Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization expense	$ 3	$ 2.8

Goodwill - Schedule of Changes

Goodwill - Schedule of Changes in Carrying Amounts of Goodwill (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Goodwill [Line Items]
Goodwill	$ 602.8	$ 602.7
Accumulated impairment losses	(59.5)	(59.5)
Total	543.3	543.2
Foreign currency translation	0.1
Commercial
Goodwill [Line Items]
Goodwill	387	387
Total	387	387
Aviation
Goodwill [Line Items]
Goodwill	215.8	215.7
Accumulated impairment losses	(59.5)	(59.5)
Total	156.3	$ 156.2
Foreign currency translation	$ 0.1

Borrowing Arrangements - Schedu

Borrowing Arrangements - Schedule of Long-Term Borrowing (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Other borrowings	$ 24.1	$ 24.3
Deferred financing costs	(2.3)	(2.4)
Total obligations under Senior Credit Facility and other borrowings	376.8	344.2
Less: Current portion of long-term borrowings	12.3	12.4
Total long-term borrowings, excluding current portion	364.5	331.8
Senior Credit Facility, Net of Original Discount on Borrowings
Debt Instrument [Line Items]
Total obligations under Senior Credit Facility and other borrowings	$ 355	$ 322.3

Borrowing Arrangements - Sche_2

Borrowing Arrangements - Schedule of Long-Term Borrowing (Parenthetical) (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
Discount on borrowings	$ 1.2	$ 1.3
Finance lease, liability	$ 23	$ 23.2

Borrowing Arrangements - Narrat

Borrowing Arrangements - Narrative (Details) - USD ($)		3 Months Ended	12 Months Ended
	Apr. 21, 2022	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Feb. 16, 2021	Nov. 30, 2018
Debt Instrument [Line Items]
Debt instrument, covenant compliance		As of March 31, 2023, the Company was in compliance with its debt covenants under the Amended Credit Agreement.
Long-term borrowings		$ 376,800,000	$ 344,200,000
Redemptions of convertible debentures		0	0
Approximate redemption value of convertible debentures		$ 1,100,000	1,100,000
Letter of Credit Facility
Debt Instrument [Line Items]
Weighted average interest rate		6.30%
Senior Credit Facility, Net of Discount
Debt Instrument [Line Items]
Long-term borrowings		$ 355,000,000	$ 322,300,000
Weighted average interest rate				3.60%
Convertible Subordinated Debt
Debt Instrument [Line Items]
Redemption price upon stated maturity (in dollars per share)		$ 19.18
Convertible debentures maturity per share		$ 25
Amended Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity					$ 600,000,000
Line of credit facility, expiration date	Apr. 21, 2027
Amended Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity					400,000,000
Amended Credit Agreement | Letter of Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity					$ 100,000,000
Amended Credit Agreement | Term Loan Facility
Debt Instrument [Line Items]
Maximum borrowing capacity						$ 200,000,000
Amended Credit Agreement | Senior Credit Facility, Net of Discount
Debt Instrument [Line Items]
Letters of credit outstanding		$ 39,000,000
Long-term borrowings		$ 356,200,000
Senior Credit Facility | Senior Credit Facility, Net of Discount
Debt Instrument [Line Items]
Weighted average interest rate		6.70%		3.80%

Stock Repurchase Program - Narr

Stock Repurchase Program - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Feb. 14, 2023	May 31, 2022
Equity Class Of Treasury Stock [Line Items]
Amount authorized by the company's Board of Directors (not to exceed)	$ 120,000,000	$ 60,000,000	$ 60,000,000
Number of shares repurchased	285,700
Average price paid per share (in dollars per share)	$ 36.53
Remaining authorized repurchase amount	$ 60,200,000
Excise tax on net repurchases of common stock	100,000
May 2022 Stock Repurchase Program
Equity Class Of Treasury Stock [Line Items]
Remaining authorized repurchase amount	$ 200,000

Stock Repurchase Program - Summ

Stock Repurchase Program - Summary of Share Repurchase Activity (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($) $ / shares shares
Equity [Abstract]
Total number of shares repurchased | shares	285,700
Average price paid per share (in dollars per share) | $ / shares	$ 36.53
Total value of common stock repurchased | $	$ 10.4

Stock Repurchase Program - Su_2

Stock Repurchase Program - Summary of Remaining Authorized Repurchase Amounts (Details) - USD ($)	Mar. 31, 2023	Feb. 14, 2023	May 31, 2022
Equity [Abstract]
Total authorized repurchase amount	$ 120,000,000	$ 60,000,000	$ 60,000,000
Total value of shares repurchased	59,800,000
Total remaining authorized repurchase amount	$ 60,200,000

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grants in period (in shares)	126,931
Unrecognized compensation expense related to unvested options	$ 9.6
Weighted average remaining recognition period of unrecognized stock-based compensation costs	2 years 2 months 12 days
Restricted Stock Units | Executive Officer
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grants in period (in shares)	126,931	1,057
Vesting period		1 year
Restricted Stock Units | Employees
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grants in period (in shares)		132,730
Vesting period	3 years	3 years
Performance Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grants in period (in shares)	126,921
Weighted average remaining recognition period of unrecognized stock-based compensation costs	2 years 1 month 6 days
Maximum number of shares of common stock available for awards (in shares)	253,842	258,114	97,096
Maximum number of payout shares of common stock available for awards (in shares)	130,729	197,457	97,096
Unrecognized stock-based compensation expenses	$ 9
Performance Shares | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based payment arrangement, additional future stock-based compensation expense	$ 4.3	$ 1.9
Performance Shares | Executive Officer
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grants in period (in shares)	126,921	132,710
Share-based compensation arrangement by share based payment award performance period	3 years

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted and Performance Stock Units Rollforward (Details)	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Restricted Stock Units
Shares
Nonvested as of December 31, 2022 | shares	338,448
Granted (in shares) | shares	126,931
Vested (in shares) | shares	(8,426)
Nonvested as of March 31, 2023 | shares	456,953
Weighted Average Grant-Date Fair Value
Nonvested as of December 31, 2022 | $ / shares	$ 33.28
Granted (in dollars per share) | $ / shares	34.57
Vested (in dollars per share) | $ / shares	35.95
Nonvested as of March 31, 2023 | $ / shares	$ 33.62
Performance Shares
Shares
Nonvested as of December 31, 2022 | shares	177,605
Granted (in shares) | shares	126,921
Nonvested as of March 31, 2023 | shares	304,526
Weighted Average Grant-Date Fair Value
Nonvested as of December 31, 2022 | $ / shares	$ 31.94
Granted (in dollars per share) | $ / shares	34.57
Nonvested as of March 31, 2023 | $ / shares	$ 33.04

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	$ 1.1	$ 1.3
Performance Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	$ 1.1	$ 0.5

Net Income per Common Share - B

Net Income per Common Share - Basic and Diluted Net Income per Common Share and Weighted Average Common Shares Outstanding (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Earnings Per Share [Abstract]
Net income attributable to SP Plus Corporation	$ 8.4	$ 10.7
Basic weighted average common shares outstanding	19,701,426	21,226,952
Dilutive impact of share-based awards	165,874	111,347
Diluted weighted average common shares outstanding	19,867,300	21,338,299
Net income per common share
Basic	$ 0.43	$ 0.50
Diluted	$ 0.42	$ 0.50

Net Income per Common Share - N

Net Income per Common Share - Narrative (Details)	3 Months Ended
	Mar. 31, 2023 shares
Earnings Per Share [Abstract]
Potential shares of common stock attributable to stock options excluded from net income per common share calculation (in shares)	0

Comprehensive Income - Componen

Comprehensive Income - Components of Other Comprehensive Income and Income Tax Benefit Allocated (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Accumulated Other Comprehensive Income Loss [Line Items]
Other comprehensive income before tax amount	$ 0.2	$ 0.7
Other comprehensive income tax amount		0.2
Other comprehensive income net of tax amount	0.2	0.5
Translation Adjustments
Accumulated Other Comprehensive Income Loss [Line Items]
Other comprehensive income before tax amount	0.2	0.1
Other comprehensive income net of tax amount	$ 0.2	0.1
De-designation of interest rate collars
Accumulated Other Comprehensive Income Loss [Line Items]
Other comprehensive income before tax amount		0.6
Other comprehensive income tax amount		0.2
Other comprehensive income net of tax amount		$ 0.4

Comprehensive Income - Compon_2

Comprehensive Income - Components of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
AOCI Attributable to Parent, Net of Tax
Beginning Balance	$ 226
Ending Balance	225.2
Foreign Currency Translation Adjustments
AOCI Attributable to Parent, Net of Tax
Beginning Balance	(1.8)	$ (2.3)
Other comprehensive income before reclassification	0.2	0.1
Ending Balance	(1.6)	(2.2)
Interest Rate Collars
AOCI Attributable to Parent, Net of Tax
Beginning Balance		(0.5)
Amounts reclassified from accumulated other comprehensive loss		0.4
Ending Balance		(0.1)
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax
Beginning Balance	(1.8)	(2.8)
Other comprehensive income before reclassification	0.2	0.1
Amounts reclassified from accumulated other comprehensive loss		0.4
Ending Balance	$ (1.6)	$ (2.3)

Comprehensive Income - Reclassi

Comprehensive Income - Reclassifications from Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Accumulated Other Comprehensive Income Loss [Line Items]
Net realized loss	$ (6.7)	$ (4.6)
Reclassifications from Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income Loss [Line Items]
Reclassifications before tax		0.6
Income tax benefit		0.2
Reclassifications, net of tax		0.4
Reclassifications from Accumulated Other Comprehensive Loss | Interest Rate Collars: Net Realized Loss
Accumulated Other Comprehensive Income Loss [Line Items]
Net realized loss		$ 0.6

Segment Information - Schedule

Segment Information - Schedule of Segment Information by Regions (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Services revenue
Services revenue	$ 425.3	$ 349.8
Total operating income (loss)	19.3	20.1
General and administrative expenses
General and administrative expenses	30.6	24.5
Depreciation and amortization
Depreciation and amortization	8.4	6.8
Operating Segments | Commercial
Services revenue
Services revenue	144.4	131.2
Total operating income (loss)	8.2	6.1
General and administrative expenses
General and administrative expenses	31.2	28.6
Depreciation and amortization
Depreciation and amortization	3.6	3
Operating Segments | Aviation
Services revenue
Services revenue	71.9	53.2
Total operating income (loss)	3.9	2.7
General and administrative expenses
General and administrative expenses	8.6	8.1
Depreciation and amortization
Depreciation and amortization	2.8	2.9
Segment Reconciling Items
Services revenue
Total operating income (loss)	(20.5)	(16.6)
General and administrative expenses
General and administrative expenses	2	0.9
Depreciation and amortization
Depreciation and amortization	18.5	15.7
Lease Type Contracts
Services revenue
Services revenue	68.2	62.6
Lease Type Contracts | Operating Segments | Commercial
Services revenue
Services revenue	64.6	59.2
Lease Type Contracts | Operating Segments | Aviation
Services revenue
Services revenue	3.6	3.4
Management Type Contracts
Services revenue
Services revenue	148.1	121.8
Management Type Contracts | Operating Segments | Commercial
Services revenue
Services revenue	79.8	72
Management Type Contracts | Operating Segments | Aviation
Services revenue
Services revenue	68.3	49.8
Reimbursed Management Type Contract Revenue
Services revenue
Services revenue	$ 209	$ 165.4

Segment Information - Schedul_2

Segment Information - Schedule of Segment Information by Regions (Parenthetical) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Commercial
Segment Reporting Information [Line Items]
Depreciation and amortization expenses related to cost of services	$ 1.9	$ 1.8
Aviation
Segment Reporting Information [Line Items]
Depreciation and amortization expenses related to cost of services	$ 1.3	$ 1.1

Subsequent Events - Narrative (

Subsequent Events - Narrative (Details) $ in Millions	Oct. 11, 2022 USD ($)
KMP Associates Limited (KMP)
Subsequent Event [Line Items]
Cash payments	$ 0.9