Central Parking Finance Trust PFD TR CV SECS (CRLKP) 10-Q 8 May 14 2014 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2014	1-May-14
Document and Entity Information	'	'
Entity Registrant Name	'SP Plus Corp	'
Entity Central Index Key	'0001059262	'
Document Type	'10-Q	'
Document Period End Date	31-Mar-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--12-31	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	21,996,678
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$24,271	$23,158
Notes and accounts receivable, net	131,489	115,126
Prepaid expenses and other	14,000	20,645
Deferred taxes	10,317	10,317
Total current assets	180,077	169,246
Leasehold improvements, equipment, land and construction in progress, net	47,525	44,885
Other assets:	'	'
Advances and deposits	6,109	7,149
Intangible assets, net	102,420	106,222
Favorable acquired lease contracts, net	56,927	60,034
Other assets, net	24,587	24,574
Cost of contracts, net	10,240	10,762
Goodwill	439,322	439,503
Other assets	639,605	648,244
Total assets	867,207	862,375
Current liabilities:	'	'
Accounts payable	111,861	115,493
Accrued and other current liabilities	98,258	102,350
Current portion of long-term debt obligations	26,537	24,632
Total current liabilities	236,656	242,475
Deferred taxes	11,082	17,348
Long-term borrowings, excluding current portion:	'	'
Obligations under senior credit facility	277,200	263,457
Other long-term debt obligations	534	577
Long-term borrowings, excluding current portion	277,734	264,034
Unfavorable lease contracts, net	70,244	74,130
Other long-term liabilities	63,041	60,677
Stockholders' equity:	'	'
Preferred Stock, par value $0.01 per share; 5,000,000 shares authorized as of March 31, 2014 and December 31, 2013; no shares issued	'	'
Common stock, par value $.001 per share; 50,000,000 shares authorized as of March 31, 2014 and December 31, 2013; 21,979,907 and 21,977,311 shares issued and outstanding as of March 31, 2014 and December 31, 2013, respectively	22	22
Additional paid-in capital	241,372	240,665
Accumulated other comprehensive (loss) income	134	118
Accumulated deficit	-33,376	-37,679
Total SP Plus Corporation stockholders' equity	208,152	203,126
Noncontrolling interest	298	585
Total equity	208,450	203,711
Total liabilities and stockholders' equity	$867,207	$862,375

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Mar. 31, 2014	Dec. 31, 2013
CONDENSED CONSOLIDATED BALANCE SHEETS	'	'
Preferred stock, par value (in dollars per share)	$0.01	$0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	21,979,907	21,977,311
Common stock, shares outstanding	21,979,907	21,977,311

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Parking services revenue:	'	'
Lease contracts	$116,635	$121,085
Management contracts	89,955	90,095
Total parking services revenue	206,590	211,180
Reimbursed management contract revenue	169,178	159,477
Total revenue	375,768	370,657
Cost of parking services:	'	'
Lease contracts	112,084	112,118
Management contracts	59,214	58,737
Total cost of parking services, gross	171,298	170,855
Reimbursed management contract expense	169,178	159,477
Total cost of parking services	340,476	330,332
Gross profit:	'	'
Lease contracts	4,551	8,967
Management contracts	30,741	31,358
Total gross profit	35,292	40,325
General and administrative expenses	26,066	27,948
Depreciation and amortization	7,163	7,493
Operating income	2,063	4,884
Other expenses (income):	'	'
Interest expense	4,809	4,840
Interest income	-98	-111
Total other expenses (income)	4,711	4,729
(Loss) income before income taxes	-2,648	155
Income tax (benefit)	-7,438	-154
Net income	4,790	309
Less: Net income attributable to noncontrolling interest	487	569
Net income (loss) attributable to SP Plus Corporation	$4,303	($260)
Net income (loss) per share:	'	'
Basic (in dollars per share)	$0.20	($0.01)
Diluted (in dollars per share)	$0.19	($0.01)
Weighted average shares outstanding:	'	'
Basic (in shares)	21,977,836	21,870,771
Diluted (in shares)	22,351,845	21,870,771

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)	'	'
Net income	$4,790	$309
Other comprehensive income	16	18
Comprehensive income	4,806	327
Less: comprehensive income attributable to noncontrolling interest	487	569
Comprehensive income (loss) attributable to SP Plus Corporation	$4,319	($242)

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Operating activities:	'	'
Net income	$4,790	$309
Adjustments to reconcile net income to net cash provided by operations:	'	'
Depreciation and amortization	7,150	7,537
Net accretion of acquired lease contracts	-779	-1,873
Loss (gain) loss on sale and abandonment of assets	168	-54
Amortization of debt issuance costs	341	452
Amortization of original discount on borrowings	414	336
Non-cash stock-based compensation	796	1,042
Provisions for losses on accounts receivable	109	130
Excess tax benefit related to vesting of restricted stock units	89	'
Deferred income taxes	-6,199	-289
Net change in operating assets and liabilities	-16,581	-17,106
Net cash used in operating activities	-9,702	-9,516
Investing activities:	'	'
Purchase of leasehold improvements and equipment	-3,327	-3,059
Cost of contracts purchased	-102	-54
Proceeds from sale of assets	42	51
Capitalized interest	-17	'
Contingent payments for businesses acquired	'	-6
Net cash used in investing activities	-3,404	-3,068
Financing activities:	'	'
Tax benefit from vesting of restricted stock units	-89	'
Contingent payments for businesses acquired	-141	'
Proceeds from senior credit facility revolver, net	28,800	17,550
Payments on term loan	-13,565	-5,625
Distribution to noncontrolling interest	-774	-669
Payments on other long-term debt obligations	-40	-191
Net cash provided by financing activities	14,191	11,065
Effect of exchange rate changes on cash and cash equivalents	28	-135
Increase (decrease) in cash and cash equivalents	1,113	-1,654
Cash and cash equivalents at beginning of period	23,158	28,450
Cash and cash equivalents at end of period	24,271	26,796
Cash paid (received) during the period for:	'	'
Interest	3,856	4,101
Income taxes, net	($4,692)	$277

The_Company

The Company	3 Months Ended
	Mar. 31, 2014
The Company	'
The Company	'
	1. The Company
	The Company provides parking management, ground transportation and other ancillary services to commercial, institutional and municipal clients in the United States, Puerto Rico and Canada. Its services include a comprehensive set of on-site parking management and ground transportation services, which consist of training, scheduling and supervising all service personnel as well as providing customer service, marketing, maintenance, security and accounting and revenue control functions necessary to facilitate the operation of clients’ parking facilities. The Company also provides a range of ancillary services such as airport shuttle operations, valet services, taxi and livery dispatch services and municipal meter revenue collection and enforcement services.

Basis_of_Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2014
Basis of Presentation	'
Basis of Presentation	'
	2. Basis of Presentation
	The accompanying unaudited condensed consolidated financial statements of SP Plus Corporation (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 Consolidated Balance Sheet, Statements of Income, and Comprehensive Income (Loss) and Cash Flows prepared in conformity with U.S. GAAP have been condensed or omitted as permitted by such rules and regulations
	In the opinion of management, all adjustments (consisting only of adjustments of a normal and recurring nature) considered necessary for a fair presentation have been included. Operating results for the three month period ended March 31, 2014 are not necessarily indicative of the results that might be expected for any other interim period or the fiscal year ended December 31, 2014. 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 filed on March 13, 2014.
	Adopted Accounting Pronouncements
	In December 2011, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2011-11, Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities. This update requires additional disclosures about offsetting and related arrangements on assets and liabilities to enable users of financial statements to understand the effect of such arrangements on an entity’s financial position as reported. This amendment is effective for fiscal 2014 and retrospective application is required.  The adoption of this guidance on January 1, 2014 did not have an impact to the Company’s financial position, results of operations or cash flows or financial statement disclosures.
	In July 2013, the FASB issued ASU No. 2013-11, “Income Taxes (Topic 740), Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists” to eliminate diversity in practice. Under this ASU, an unrecognized tax benefit, or a portion of an unrecognized tax benefit that exists at the reporting date, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward if certain criteria are met. This amendment is effective for fiscal years and interim periods within those years beginning after December 15, 2013.  The adoption of this guidance on January 1, 2014 did not have an impact to the Company’s financial position, results of operations or cash flows or financial statement disclosures.

Legal_and_Other_Contingencies

Legal and Other Contingencies	3 Months Ended
	Mar. 31, 2014
Legal and Other Contingencies	'
Legal and Other Contingencies	'
	3. Legal and Other Contingencies
	The Company is subject to litigation in the normal course of its business. The Company applies the provisions as defined in the guidance related to accounting for contingencies in determining the recognition and measurement of expense recognition associated with legal claims against the Company. Management uses guidance from internal and external legal counsel on the potential outcome of litigation in determining the need to record liabilities for potential losses and the disclosure of pending legal claims.
	Certain lease contracts acquired in the Central Merger (defined in Note 5. Acquisition) include provisions allocating to the Company responsibility for all structural repairs required on the property, including repairs arising as a result of ordinary wear and tear. The Company may incur costs for certain structural repair obligations during 2014 and future years, the Company is unable to estimate an amount or range of estimated liability for these repairs in any particular year or in the aggregate. As a result, the Company has not recognized a liability for these costs in the accompanying consolidated financial statements. Additionally, the applicable indemnity pursuant to the Agreement and Plan of Merger dated February 12, 2012, and further discussed in Note 5. Acquisition, may not cover all such obligations, and there will be timing differences between the Company’s payments to satisfy these obligations and the receipt of indemnification thereof, and some indemnification obligations may be satisfied through the surrender of shares of the Company’s common stock.

Intangible_Assets_net

Intangible Assets, net	3 Months Ended
	Mar. 31, 2014
Intangible Assets, net	'
Intangible Assets, net	'
	4. Intangible Assets, net
	The following presents a summary of intangible assets, net, as of March 31, 2014 and December 31, 2013:
		March 31, 2014			December 31, 2013
		(Unaudited)
	Covenant not to compete	$	933		$	933
	Trade names and trademarks	9,820			9,820
	Proprietary know how	34,650			34,650
	Management contract rights	81,000			81,000
	Accumulated amortization	(23,983		)	(20,181		)
	Intangible assets, net	$	102,420		$	106,222
	Amortization expense related to intangible assets included in depreciation and amortization was $3,801 and $3,957 for the three months ended March 31, 2014 and 2013, respectively.

Acquisition

Acquisition	3 Months Ended
	Mar. 31, 2014
Acquisition	'
Acquisition	'
	5. Acquisition
	On October 2, 2012 (“Closing Date”), the Company completed its acquisition (the “Central Merger” or “Merger”) of 100% of the outstanding common shares of KCPC Holdings, Inc., which was the ultimate parent of Central Parking Corporation (“Central”) for 6,161,332 shares of Company common stock and the assumption of approximately $217,675 of Central’s debt net of cash acquired. Additionally, Central’s former stockholders will be entitled to receive cash consideration of $27,000 to be paid three years after closing, to the extent the $27,000 is not used to satisfy seller indemnity obligations pursuant to the Agreement and Plan of Merger dated February 12, 2012 (the “Merger Agreement).  The Company financed the acquisition through additional borrowings under the Senior Credit Facility (defined in Note 9. Borrowing Arrangements).
	Pursuant to the Merger Agreement, the Company is entitled to indemnification from Central’s former stockholders (i)  if and to the extent Central’s combined net debt and the absolute value of Central’s working capital (as determined in accordance with the Merger Agreement) (the “Net Debt Working Capital”) exceeded $285,000 as of September 30, 2012 and (ii) for certain defined adverse consequences as set forth in the Merger Agreement.  Pursuant to the Merger Agreement, Central’s former stockholders are required to satisfy certain indemnity obligations, which are capped at $27,000 cash consideration (the “Capped Items”) only through a reduction of the $27,000 cash consideration.  For certain other indemnity obligations set forth in the Merger Agreement which are not capped at the $27,000 cash consideration (the “Uncapped Items”), including the Net Debt Working Capital indemnity obligations described above, Central’s former stockholders may satisfy their indemnity obligations as follows (provided the Company reserves the right to reject the cash and stock alternatives and choose to reduce the $27,000 cash consideration):
	·                  Central’s former stockholders can elect to pay the applicable amount with cash;
	·                  Central’s former stockholders can elect to pay the applicable amount with the Company’s common stock (valued at $23.64 per share); or
	·                  Central’s former stockholders can elect to reduce the $27,000 cash consideration by the applicable amount, subject to the condition that the cash consideration remains at least $17,000 to cover Capped Items.
	The Company has determined that the Net Debt Working Capital was $298,729 as of September 30, 2012 and that, accordingly, the Net Debt Working Capital exceeded the threshold by $13,729. In addition, the Company has determined that it currently has indemnity claims for certain defined adverse consequences, which would reduce the cash consideration payable in three years by $6,580. The Company has periodically given Central’s former stockholders notice regarding indemnification matters since the closing date of the Merger and has made adjustments for known matters, although Central’s former stockholders have not agreed to such adjustments nor made any elections with respect to the payment of any Uncapped Items.  The Company expects that it will have additional indemnity claims against the former stockholders of Central.
	The following table sets forth the adjustments to the cash consideration payable by the Company to the former stockholders of Central, based upon the foregoing determinations:
	Central Net Debt Working Capital at September 30, 2012 as defined in the Merger Agreement	$	(298,729	)
	Threshold	285,000
	Excess over the threshold	(13,729		)
	Indemnification of certain defined adverse consequences, net	(6,237		)
	Cash consideration payable in three years	27,000
	Settled cash consideration	$	7,034
	Present value of cash consideration as of March 31, 2014	$	5,940
	Present value of cash consideration at the acquisition date	$	8,943
	Accordingly, the fair value of the final consideration transferred to acquire all of Central’s outstanding stock at the acquisition date is as follows:
	Stock consideration	$	140,726
	Present value of cash consideration to be issued as of March 31, 2014	5,940
	Total consideration transferred	$	146,666
	The acquisition has been accounted for using the acquisition method of accounting (in accordance with the provisions of Accounting Standards Codification (“ASC”) 805, Business Combinations) which requires, among other things, that most assets acquired and liabilities assumed be recognized at their fair values as of the acquisition date. The purchase price has been allocated based on the estimated fair value of net assets acquired and liabilities assumed at the date of the acquisition. The Company finalized the purchase price allocation during the third quarter 2013, which resulted in revision to the previously reported preliminary amounts and were applied retrospectively back to the date of the acquisition.
	The Company has incurred certain acquisition and integration costs associated with the transaction that have been expensed as incurred and reflected in the Consolidated Statements of Income. The Company recognized $1,505 and $4,213 of these costs in the Consolidated Statement of Income for the three months ended March 31, 2014 and 2013, respectively, in General and Administrative Expenses.

StockBased_Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2014
Stock-Based Compensation	'
Stock-Based Compensation	'
	6. Stock-Based Compensation
	Stock Options and Grants
	There were no options granted during the three months ended March 31, 2014 and 2013. The Company recognized no stock-based compensation expense related to stock options for the three months ended March 31, 2014 and 2013, as all options previously granted were fully vested. As of March 31, 2014, there were no unrecognized compensation costs related to unvested options.
	Restricted Stock Units
	In March 2014, the Company authorized a one-time grant of 7,518 restricted stock units to an executive that vest in March 2019.  During the three months ended March 31, 2014, no restricted stock units vested. During the three months ended March 31, 2013, 5,000 restricted stock units vested. No restricted stock units were forfeited in the three months ended March 31, 2014 and 2013.
	The Company recognized $796 and $1,042 of stock-based compensation expense related to restricted stock units for the three months ended March 31, 2014 and 2013, respectively, which is included in General and Administrative Expenses. As of March 31, 2014, there was $6,654 of unrecognized stock-based compensation costs, net of estimated forfeitures, related to the restricted stock units that are expected to be recognized over a weighted average remaining period of approximately 3.9 years.

Net_Income_Loss_Per_Common_Sha

Net Income (Loss) Per Common Share	3 Months Ended
	Mar. 31, 2014
Net Income (Loss) Per Common Share	'
Net Income (Loss) Per Common Share	'
	7. Net Income (Loss) Per Common Share
	Basic net income per 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 share is based upon the weighted daily average number of shares of common stock outstanding for the period plus dilutive potential common shares, including stock options and restricted stock units using the treasury-stock method.
	A reconciliation of the weighted average basic common shares outstanding to the weighted average diluted common shares outstanding is as follows (unaudited):
		Three Months Ended
		March 31,
		2014			2013
	Weighted average common basic shares outstanding	21,977,836			21,870,771
	Effect of dilutive stock options and restricted stock units	374,009			—
	Weighted average common diluted shares outstanding	22,351,845			21,870,771
	Net income (loss) per share:
	Basic	$	0.2		$	(0.01	)
	Diluted	$	0.19		$	(0.01	)
	Stock options and restricted stock units not included in the computation of diluted loss per share for those periods because their inclusion was anti-dilutive were as follows (unaudited):
		Three Months Ended
		March 31,
		2014		2013
	Stock options and restricted stock units	—		300,033

Bradley_Agreement

Bradley Agreement	3 Months Ended
	Mar. 31, 2014
Bradley Agreement	'
Bradley Agreement	'
	8. Bradley Agreement
	The Company entered into a 25-year agreement with the State of Connecticut (“State”) that expires on April 6, 2025, under which it operates the surface parking and 3,500 garage parking spaces at Bradley International Airport (“Bradley”) located in the Hartford, Connecticut metropolitan area.
	The parking garage was financed through the issuance of State of Connecticut special facility revenue bonds and provides that the Company deposits, with the trustee for the bondholders, all gross revenues collected from operations of the surface and garage parking. From these gross revenues, the trustee pays debt service on the special facility revenue bonds outstanding, operating and capital maintenance expense of the surface and garage parking facilities, and specific annual guaranteed minimum payments to the state. Principal and interest on the Bradley special facility revenue bonds increase from approximately $3,600 in contract year 2002 to approximately $4,500 in contract year 2025. Annual guaranteed minimum payments to the State increase from approximately $8,300 in contract year 2002 to approximately $13,200 in contract year 2024. The annual minimum guaranteed payment to the State by the trustee for the twelve months ended December 31, 2014 and 2013 is $10,815 and was $10,593, respectively. All of the cash flow from the parking facilities are pledged to the security of the special facility revenue bonds and are collected and deposited with the bond trustee. Each month the bond trustee makes certain required monthly distributions, which are characterized as “Guaranteed Payments.” To the extent the monthly gross receipts generated by the parking facilities are not sufficient for the trustee to make the required Guaranteed Payments, the Company is obligated to deliver the deficiency amount to the trustee, with such deficiency payments representing interest bearing advances to the trustee. The Company does not directly guarantee the payment of any principal or interest on any debt obligations of the State of Connecticut or the trustee.
	The following is the list of Guaranteed Payments:
	· Garage and surface operating expenses,
	· Principal and interest on the special facility revenue bonds,
	· Trustee expenses,
	· Major maintenance and capital improvement deposits; and
	· State minimum guarantee.
	To the extent sufficient funds are available, the trustee is then directed to reimburse the Company for deficiency payments up to the amount of the calculated surplus, with the Company having the right to be repaid the principal amount of any and all deficiency payments, together with actual interest and premium, not to exceed 10% of the initial deficiency payment. The Company calculates and records interest and premium income along with deficiency principal repayments as a reduction of cost of parking services in the period the associated deficiency repayment is received from the trustee. The Company believes these advances to be fully recoverable as the Bradley Agreement places no time restriction on the Company’s right to reimbursement. The reimbursement of principal, interest and premium will be recognized when received.
	The total deficiency payments, net of reimbursements, as of March 31, 2014 (unaudited) are as follows:
		2014
	Balance at January 1, 2014	$	14,649
	Deficiency payments made	25
	Deficiency repayment received	(117		)
	Balance at March 31, 2014	$	14,557
	During the three months ended March 31, 2014, the Company received deficiency repayments (net of payments made) of $92 and received and recorded premium of $14, with the net of these amounts recorded as reduction in Cost of Parking Services within the Consolidated Statement of Income. During the three months ended March 31, 2013, the Company made deficiency payments of $403 and did not receive or record any interest or premium payments, with the deficiency payments made being recorded as additional Cost of Parking Services within the Consolidated Statement of Income. The Company accrues for deficiency payments when the potential for future deficiency payments are both probable and estimable.  There were no amounts of estimated deficiency payments accrued as of March 31, 2014, as the Company concluded that the potential for future deficiency payments did not meet the criteria of both probable and estimable. The Company accrued $100 of estimated deficiency payments as of December 31, 2013.
	In addition to the recovery of certain general and administrative expenses incurred, the Bradley Agreement provides for an annual management fee payment, which is based on operating profit tiers. The annual management fee is further apportioned 60% to the Company and 40% to an un-affiliated entity and the annual management fee will be paid to the extent funds are available for the trustee to make distribution, and are paid after Guaranteed Payments (as defined in the Bradley Agreement) are paid, and after the repayment of all deficiency payments, including interest and premium. Cumulative management fees of approximately $13,983 and $13,733 have not been recognized as of March 31, 2014 and December 31, 2013, respectively, and no management fees were recognized as revenue for the three months ended March 31, 2014 and 2013.

Borrowing_Arrangements

Borrowing Arrangements	3 Months Ended
	Mar. 31, 2014
Borrowing Arrangements	'
Borrowing Arrangements	'
	9. Borrowing Arrangements
	Long-term borrowings, in order of preference, consist of:
			Amount Outstanding
		Maturity Date	March 31,		December 31,
			2014		2013
			(Unaudited)
	Senior Credit Facility, net of discount	October 2, 2017	$	302,320	$	286,672
	Other obligations	Various	1,951		1,994
	Total debt		304,271		288,666
	Less current portion		26,537		24,632
	Total long-term debt		$	277,734	$	264,034
	Senior Credit Facility
	On October 2, 2012, the Company entered into a Credit Agreement with Bank of America, as administrative agent, Wells Fargo Bank, N.A. (“Wells Fargo Bank”) and JPMorgan Chase Bank, as co-syndication agents, U.S. Bank National Association, First Hawaiian Bank and General Electric Capital Corporation, as co-documentation agents, Merrill Lynch, Pierce, Fenner & Smith Inc., Wells Fargo Securities, LLC and J.P. Morgan Securities LLC, as joint lead arrangers and joint book managers, and the lenders party thereto (the “Lenders”).
	Pursuant to the terms, and subject to the conditions, of the Credit Agreement, the Lenders have made available to the Company a new secured Senior Credit Facility (the “Senior Credit Facility”) that permits aggregate borrowings of $450,000 consisting of (i) a revolving credit facility of up to $200,000 at any time outstanding, which includes a letter of credit facility that is limited to $100,000 at any time outstanding, and (ii) a term loan facility of $250,000. The Senior Credit Facility matures on October 2, 2017.
	The Company may be required to make mandatory repayments of principal within 90 days of each fiscal year-end provided that certain excess cash is available, as defined within the Credit Agreement.  In the event the Company is required to make mandatory repayments of principal pursuant to the Credit Agreement, the aggregate borrowings available under the Senior Credit Facility are reduced by the amount of mandatory principal repayments made by the Company.  In March 2014, the Company made a mandatory principal repayment of $7,940, as provided under the Credit Agreement.  There were no mandatory repayments of principal required under the Credit Agreement in 2013.
	Events of default under the Credit Agreement include failure to pay principal or interest when due, failure to comply with the financial and operational covenants, the occurrence of any cross default event, non-compliance with other loan documents, the occurrence of a change of control event, and bankruptcy and other insolvency events. If an event of default occurs and is continuing, the Lenders holding a majority of the commitments and outstanding term loan under the Credit Agreement have the right, among others, to (i) terminate the commitments under the Credit Agreement, (ii) accelerate and require the Company to repay all the outstanding amounts owed under the Credit Agreement and (iii) require the Company to cash collateralize any outstanding letters of credit.
	Under the terms of the Credit Agreement, as of March 31, 2014 and June 30, 2014, we are required to maintain a maximum consolidated total debt to EBITDA ratio of not greater than 4.0:1.0.  There are certain future step downs as described in the Credit Agreement; decreasing to 3.75:1.0 as of the end of each fiscal-quarter ending after July 1, 2014 through and including the quarter ending June 30, 2015, 3.5:1.0 as of the end of each fiscal quarter ending after July 1, 2015 through and including June 30, 2016 and 3.25:1.0 as of the end of each fiscal quarter ending after July 1, 2016.   In addition, as of March 31, 2014 and June 30, 2014, we are required to maintain a minimum consolidated fixed charge coverage ratio of not less than 1.25:1.0., decreasing to 1.35:1.0 as of the end of each fiscal quarter ending after July 1, 2014.
	The Company was in compliance with all covenants as of March 31, 2014.
	At March 31, 2014, the Company had $46,683 of borrowing availability under the Credit Agreement, of which the Company could have borrowed $8,701 on March 31, 2014 and remained in compliance with the above described covenants as of such date.  The additional borrowing availability under the Credit Agreement is limited only as of the Company’s fiscal quarter-end by the covenant restrictions described above.   At March 31, 2014, the Company had $56,167 of letters of credit outstanding under the Senior Credit Facility, with aggregate borrowings against the Senior Credit Facility of $305,460 (excluding debt discount of $3,140.)
	Interest Rate Swap Transactions
	On October 25, 2012, the Company entered into Interest Rate Swap transactions (collectively, the “Interest Rate Swaps”) with each of JPMorgan Chase Bank, N.A., Bank of America, N.A. and PNC Bank, N.A. in an initial aggregate Notional Amount of $150.0 million (the “Notional Amount”). The Interest Rate Swaps have an effective date of October 31, 2012 and a termination date of September 30, 2017. The Interest Rate Swaps effectively fix the interest rate on an amount of variable interest rate borrowings under the Credit Agreement, originally equal to the Notional Amount at 0.7525% per annum plus the applicable margin rate for LIBOR loans under the Credit Agreement, determined based upon the Company’s consolidated total debt to EBITDA ratio. The Notional Amount is subject to scheduled quarterly amortization that coincides with quarterly prepayments of principal under the Credit Agreement. These Interest Rate Swaps are classified as cash flow hedges, and we calculate the effectiveness of the hedge on a monthly basis. The ineffective portion of the cash flow hedge is recognized in earnings as an increase of interest expense. As of March 31, 2014, no ineffectiveness of the hedge has been recognized. See Note 12. Fair Value Measurement for the fair value of the interest rate swap as of March 31, 2014 and December 31, 2013.
	The Company does not enter into derivative instruments for any purpose other than for cash flow hedging purposes.

Comprehensive_Income_Loss

Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2014
Comprehensive Income (Loss)	'
Comprehensive Income (Loss)	'
	10. Comprehensive Income (Loss)
	Comprehensive income (loss) consists of the following components, net of tax (unaudited):
		For the three months ended
		March 31, 2014			March 31, 2013
	Net income	$	4,790		$	309
	Effective portion of cash flow hedge	(12		)	153
	Effect of foreign currency translation	28			(135		)
	Comprehensive income	4,806			327
	Less: comprehensive income attributable to noncontrolling interest	487			569
	Comprehensive income (loss) attributable to SP Plus Corporation	$	4,319		$	(242	)
	Accumulated other comprehensive income (loss) is comprised of unrealized gains (losses) on cash flow hedges and foreign currency translation adjustments. The components of changes in accumulated comprehensive income (loss), net of taxes, for the three months ended March 31, 2014 were as follows (unaudited):
		Foreign Currency			Effective Portion of			Total
		Translation			Unrealized Gain (Loss)			Accumulated
		Adjustments			on Derivative			Other
								Comprehensive
								Income (Loss)
	Balance at December 31, 2013	$	(368	)	$	486		$	118
	Changes in other comprehensive income (loss)	28			(12		)	16
	Balance at March 31, 2014	$	(340	)	$	474		$	134

Income_Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2014
Income Taxes	'
Income Taxes	'
	11. Income Taxes
	For the three months ended March 31, 2014, the Company recognized an income tax benefit of $7,438 compared to a $154 income tax benefit for the three months ended March 31, 2013.  The effective tax rate is a benefit of 280.9% for the three months ended March 31, 2014 compared to a benefit of 99.4% for the three months ended March 31, 2013. The effective tax rate for the three months ended March 31, 2014 was a benefit of 280.9%, primarily as a result of recognizing a $6,359 discrete benefit for the reversal of a valuation allowance for a deferred tax asset established for historical net operating losses attributable to the State of New York.  The valuation allowance was reversed in the first quarter of 2014 due to State of New York tax law changes effective March 31, 2014, which resulted in the Company determining that the future benefit of the net operating loss carryforwards were more likely than not to be realized.
	As of March 31, 2014, the Company has not identified any uncertain tax positions that would have a material impact on the Company’s financial position. The Company recognizes potential interest and penalties related to uncertain tax positions, if any, in income tax expense.
	The tax years that remain subject to examination for the Company’s major tax jurisdictions at March 31, 2014 are shown below:
	2009 - 2013	United States—federal income tax
	2007 - 2013	United States—state and local income tax
	2010 - 2013	Canada

Fair_Value_Measurement

Fair Value Measurement	3 Months Ended
	Mar. 31, 2014
Fair Value Measurement	'
Fair Value Measurement	'
	12. Fair Value Measurement
	Fair value measurements-recurring basis
	In determining fair value, the Company uses various valuation approaches within the fair value measurement framework. Fair value measurements are determined based on the assumptions that market participants would use in pricing an asset or liability.
	Applicable accounting literature establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. The fair value hierarchy is based on observable or unobservable inputs to valuation techniques that are used to measure fair value.
	Observable inputs reflect assumptions market participants would use in pricing an asset or liability based on market data obtained from independent sources, while unobservable inputs reflect a reporting entity’s pricing based upon its own market assumptions. Applicable accounting literature defines levels within the hierarchy based on the reliability of inputs as follows:
	· Level 1: Inputs are quoted prices in active markets for identical assets or liabilities.
	· Level 2: Inputs are quoted prices for similar assets or liabilities in an active market, quoted prices for identical or similar assets or liabilities in markets that are not active, and inputs other than quoted prices that are observable and market-corroborated inputs, which are derived principally from or corroborated by observable market data.
	· Level 3: Inputs that are derived from valuation techniques in which one or more significant inputs or value drivers are unobservable.
	The following table sets forth the Company’s financial assets and liabilities measured at fair value on a recurring basis and the basis of measurement at March 31, 2014 and December 31, 2013:
		Fair Value Measurement at								Fair Value Measurement at
		March 31, 2014 (unaudited)								December 31, 2013
		Level 1		Level 2			Level 3			Level 1		Level 2		Level 3
	Assets:
	Prepaid expenses and other
	Interest rate swap	—		$	804		—			—		$	824	—
	Liabilities:
	Accrued expenses
	Contingent acquisition consideration	—		—			$	1,366		—		—		$	1,374
	Other long term liabilities
	Contingent acquisition consideration	—		—			$	195		—		—		$	163
	The Company seeks to minimize risks from interest rate fluctuations through the use of interest rate swap contracts and hedge only exposures in the ordinary course of business. Interest rate swaps are used to manage interest rate risk associated with our floating rate debt. The Company accounts for its derivative instruments at fair value, provided it meets certain documentary and analytical requirements to qualify for hedge accounting treatment. Hedge accounting creates the potential for a Consolidated Statement of Operations match between the changes in fair values of derivatives and the changes in cost of the associated underlying transactions, in this case interest expense. Derivatives held by the Company are designated as hedges of specific exposures at inception, with an expectation that changes in the fair value will essentially offset the change in the underlying exposure. Discontinuance of hedge accounting is required whenever it is subsequently determined that an underlying transaction is not going to occur, with any gains or losses recognized in the Consolidated Statement of Operations at such time, and with any subsequent changes in fair value recognized currently in earnings. Fair values of derivatives are determined based on quoted prices for similar contracts. The effective portion of the change in fair value of the interest rate swap is reported in accumulated other comprehensive income, a component of stockholders’ equity, and is being recognized as an adjustment to interest expense or other (expense) income, respectively, over the same period the related expenses are recognized in earnings. Ineffectiveness would occur when changes in the market value of the hedged transactions are not completely offset by changes in the market value of the derivative and the those related gains and losses on derivatives representing hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized currently in earnings when incurred. No ineffectiveness was recognized during the three months ended March 31, 2014 and 2013.
	The significant inputs used to derive the fair value of the contingent acquisition consideration include financial forecasts of future operating results, the probability of reaching the forecast and the associated discount rate. The weighted average probability of the contingent acquisition consideration ranges from 5% to 100%, with a weighted average discount rate of 11%.
	The following table provides a reconciliation of the beginning and ending balances for the contingent consideration liability measured at fair value using significant unobservable inputs (Level 3) (unaudited):
		Due to Seller
	Balance at December 31, 2013	$	(1,537	)
	Payment of contingent consideration	141
	Change in fair value	(166		)
	Balance at March 31, 2014	$	(1,562	)
	For the three months ended March 31, 2014, the Company recognized an expense of $166 in General and Administrative Expenses within the Consolidated Statement of Income due to the change in fair value measurements using a Level 3 valuation technique. For the three months ended March 31, 2013, the Company recognized a benefit of $308 in General and Administrative Expenses within the Consolidated Statement of Income due to the change in fair value measurements using a Level 3 valuation technique. These adjustments were the result of using revised forecasts of operating results, updates to the probability of achieving the revised forecasts and updated fair value measurements that revised the Company’s contingent consideration obligations related to the purchase of these businesses.
	Nonrecurring Fair Value Measurements
	Certain assets are measured at fair value on a nonrecurring basis; that is, the assets are measured at fair value on an ongoing basis but are subject to fair value adjustments only in certain circumstances (for example, when there is evidence of impairment). Non-financial assets such as goodwill, intangible assets, and leasehold improvements, equipment land and construction in progress are subsequently measured at fair value when there is an indicator of impairment and recorded at fair value only when an impairment is recognized. The Company assesses the impairment of intangible assets annually or whenever events or changes in circumstances indicate that the carrying amount of an intangible asset may not be recoverable. The fair value of its goodwill and intangible assets is not estimated if there is no change in events or circumstances that indicate the carrying amount of an intangible asset may not be recoverable. There were no impairment charges for the three months ended March 31, 2014 and 2013.
	Financial instruments not measured at fair value
	The following table presents the carrying amounts and estimated fair values of financial instruments not measured at fair value in the Consolidated Balance Sheet at March 31, 2014 (unaudited) and December 31, 2013:
		March 31, 2014						December 31, 2013
		Carrying			Fair Value			Carrying			Fair Value
		Amount						Amount
	Cash and cash equivalents	$	24,271		$	24,271		$	23,158		$	23,158
	Long-term debt—
	Senior credit facility, net of discount	(302,320		)	(302,320		)	(286,672		)	(286,672		)
	Other obligations	$	(1,951	)	$	(1,951	)	$	(1,994	)	$	(1,994	)
	The carrying value of cash and cash equivalents approximates their fair value due to the short-term nature of these financial instruments and has been classified as a Level 1 measurement. The fair value of the Senior Credit Facility and other obligations was estimated to not be materially different from the carrying amount, as these instruments bear interest at variable market rates and are generally measured using a discounted cash flow analysis based on current market interest rates for similar types of financial instruments and have been classified as a Level 2 measurement.
	Book overdrafts of $26,748 and $29,310 are included within Accounts Payable in the Consolidated Balance Sheet as of March 31, 2014 and December 31, 2013, respectively.

Business_Unit_Segment_Informat

Business Unit Segment Information	3 Months Ended
	Mar. 31, 2014
Business Unit Segment Information	'
Business Unit Segment Information	'
	13. Business Unit Segment Information
	Segment information is presented in accordance with a “management approach,” which designates the internal reporting used by the 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 separate financial information is available and evaluated regularly by the Company’s CODM in deciding how to allocate resources and in assessing 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 Company’s CODM. The CODM is the Company’s chief executive officer.
	Each of the operating segments is directly responsible for revenue and expenses related to their operations including direct regional administrative costs. Finance, information technology, human resources, and legal are shared functions that are not allocated back to the four operating segments. The CODM assesses the performance of each operating segment using information about its revenue and operating income (loss) before interest, taxes, and depreciation and amortization, but does not evaluate segments using discrete asset information. There are no inter-segment transactions and the Company does not allocate interest and other income, interest expense, depreciation and amortization or taxes to operating segments. The accounting policies for segment reporting are the same as for the Company as a whole.
	On November 1, 2013, the Company changed its internal reporting segment information reported to its CODM. The Company now reports Ontario, Manitoba and Quebec in Region One and Missouri, Nebraska, North Carolina and South Carolina in Region Five. All prior periods presented have been restated to reflect the new internal reporting to the CODM.
	The business is managed based on regions administered by executive vice presidents. The following is summary of revenues (excluding reimbursed management contract revenue) and gross profit by regions for the three months ended March 31, 2014 and 2013 (unaudited):
		Three Months			Gross		Three Months			Gross
		Ended March 31,			Margin %		Ended March 31,			Margin %
		2014					2013
	Revenues(a):
	Region One
	Lease contracts	70,014					72,083
	Management contracts (b)	24,988					28,447
	Total Region One	95,002					100,530
	Region Two
	Lease contracts	1,197					1,326
	Management contracts	12,720					10,215
	Total Region Two	13,917					11,541
	Region Three
	Lease contracts	11,879					11,413
	Management contracts	14,126					15,821
	Total Region Three	26,005					27,234
	Region Four
	Lease contracts	11,350					11,265
	Management contracts	26,528					24,728
	Total Region Four	37,878					35,993
	Region Five
	Lease contracts	22,387					25,050
	Management contracts	10,227					11,311
	Total Region Five	32,614					36,361
	Other
	Lease contracts	(192		)			(52		)
	Management contracts	1,366					(427		)
	Total Other	1,174					(479		)
	Reimbursed management contract revenue	169,178					159,477
	Total revenues	375,768					370,657
	Gross Profit
	Region One
	Lease contracts	(130		)	0	%	2,270			3	%
	Management contracts	11,672			47	%	13,469			47	%
	Total Region One	11,542					15,739
	Region Two
	Lease contracts	135			11	%	266			0	%
	Management contracts	3,047			24	%	2,277			22	%
	Total Region Two	3,182					2,543
	Region Three
	Lease contracts	599			5	%	778			7	%
	Management contracts	5,186			37	%	5,888			37	%
	Total Region Three	5,785					6,666
	Region Four
	Lease contracts	645			6	%	751			7	%
	Management contracts	8,178			31	%	5,500			22	%
	Total Region Four	8,823					6,251
	Region Five
	Lease contracts	3,447			15	%	4,885			20	%
	Management contracts	3,901			38	%	4,772			42	%
	Total Region Five	7,349					9,657
	Other
	Lease contracts	(145		)	76	%	17			100	%
	Management contracts	(1,243		)	(91	)%	(548		)	128	%
	Total Other	(1,388		)			(531		)
	Total gross profit	35,292					40,325
	General and administrative expenses	26,066					27,948
General and administrative expense percentage of gross profit	74		%			69		%
Depreciation and amortization	7,163					7,493
Operating income	2,063					4,884
Other expenses (income):
Interest expense	4,809					4,840
Interest income	(98		)			(111		)
	4,711					4,729
(Loss) income before income taxes	(2,648		)			155
Income tax (benefit)	(7,438		)			(154		)
Net income	4,790					309
Less: Net income attributable to noncontrolling interest	487					569
Net income (loss) attributable to SP Plus Corporation	$	4,303				$	(260	)
(a)                                 Excludes reimbursed management contract revenue.
(b)                                 The three months ended March 31, 2013 included a net gain of $2,700 related to the sale of rights associated with certain contracts.
Region One encompasses operations in Connecticut, Delaware, District of Columbia, Illinois, Indiana, Kansas, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Virginia, West Virginia, Wisconsin and the Canadian provinces of Manitoba, Ontario, and Quebec.
Region Two encompasses event planning and transportation, and the Company’s technology-based parking and traffic management systems.
Region Three encompasses operations in Arizona, California, Colorado, Hawaii, New Mexico, Oregon, Utah, Washington and the Canadian province of Alberta.
Region Four encompasses all major airport and transportation operations nationwide.
Region Five encompasses Alabama, Florida, Georgia, Louisiana, Mississippi, Missouri, Nebraska, North Carolina, Oklahoma, Puerto Rico, South Carolina, Tennessee, and Texas.
Other consists of ancillary revenue that is not specifically identifiable to a region and insurance reserve adjustments related to prior years.

Basis_of_Presentation_Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2014
Basis of Presentation	'
Adopted Accounting Pronouncements	'
	Adopted Accounting Pronouncements
	In December 2011, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2011-11, Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities. This update requires additional disclosures about offsetting and related arrangements on assets and liabilities to enable users of financial statements to understand the effect of such arrangements on an entity’s financial position as reported. This amendment is effective for fiscal 2014 and retrospective application is required.  The adoption of this guidance on January 1, 2014 did not have an impact to the Company’s financial position, results of operations or cash flows or financial statement disclosures.
	In July 2013, the FASB issued ASU No. 2013-11, “Income Taxes (Topic 740), Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists” to eliminate diversity in practice. Under this ASU, an unrecognized tax benefit, or a portion of an unrecognized tax benefit that exists at the reporting date, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward if certain criteria are met. This amendment is effective for fiscal years and interim periods within those years beginning after December 15, 2013.  The adoption of this guidance on January 1, 2014 did not have an impact to the Company’s financial position, results of operations or cash flows or financial statement disclosures.

Intangible_Assets_net_Tables

Intangible Assets, net (Tables)	3 Months Ended
	Mar. 31, 2014
Intangible Assets, net	'
Summary of intangible assets, net	'
		March 31, 2014			December 31, 2013
		(Unaudited)
	Covenant not to compete	$	933		$	933
	Trade names and trademarks	9,820			9,820
	Proprietary know how	34,650			34,650
	Management contract rights	81,000			81,000
	Accumulated amortization	(23,983		)	(20,181		)
	Intangible assets, net	$	102,420		$	106,222

Acquisition_Tables

Acquisition (Tables)	3 Months Ended
	Mar. 31, 2014
Acquisition	'
Schedule of present value of cash consideration	'
	Central Net Debt Working Capital at September 30, 2012 as defined in the Merger Agreement	$	(298,729	)
	Threshold	285,000
	Excess over the threshold	(13,729		)
	Indemnification of certain defined adverse consequences, net	(6,237		)
	Cash consideration payable in three years	27,000
	Settled cash consideration	$	7,034
	Present value of cash consideration as of March 31, 2014	$	5,940
	Present value of cash consideration at the acquisition date	$	8,943
Schedule of fair value of the final consideration for acquisition	'
	Stock consideration	$	140,726
	Present value of cash consideration to be issued as of March 31, 2014	5,940
	Total consideration transferred	$	146,666

Net_Income_Loss_Per_Common_Sha1

Net Income (Loss) Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2014
Net Income (Loss) Per Common Share	'
Schedule of reconciliation of the weighted average basic common shares outstanding to weighted average diluted common shares outstanding	'
		Three Months Ended
		March 31,
		2014			2013
	Weighted average common basic shares outstanding	21,977,836			21,870,771
	Effect of dilutive stock options and restricted stock units	374,009			—
	Weighted average common diluted shares outstanding	22,351,845			21,870,771
	Net income (loss) per share:
	Basic	$	0.2		$	(0.01	)
	Diluted	$	0.19		$	(0.01	)
Schedule of stock options and restricted stock units not included in the computation of diluted loss per share because their inclusion was antidilutive	'
		Three Months Ended
		March 31,
		2014		2013
	Stock options and restricted stock units	—		300,033

Bradley_Agreement_Tables

Bradley Agreement (Tables)	3 Months Ended
	Mar. 31, 2014
Bradley Agreement	'
Schedule of deficiency payments made, net of reimbursements	'
		2014
	Balance at January 1, 2014	$	14,649
	Deficiency payments made	25
	Deficiency repayment received	(117		)
	Balance at March 31, 2014	$	14,557

Borrowing_Arrangements_Tables

Borrowing Arrangements (Tables)	3 Months Ended
	Mar. 31, 2014
Borrowing Arrangements	'
Schedule of long-term borrowings	'
			Amount Outstanding
		Maturity Date	March 31,		December 31,
			2014		2013
			(Unaudited)
	Senior Credit Facility, net of discount	October 2, 2017	$	302,320	$	286,672
	Other obligations	Various	1,951		1,994
	Total debt		304,271		288,666
	Less current portion		26,537		24,632
	Total long-term debt		$	277,734	$	264,034

Comprehensive_Income_Loss_Tabl

Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2014
Comprehensive Income (Loss)	'
Schedule of components of comprehensive income (loss), net of tax	'
		For the three months ended
		March 31, 2014			March 31, 2013
	Net income	$	4,790		$	309
	Effective portion of cash flow hedge	(12		)	153
	Effect of foreign currency translation	28			(135		)
	Comprehensive income	4,806			327
	Less: comprehensive income attributable to noncontrolling interest	487			569
	Comprehensive income (loss) attributable to SP Plus Corporation	$	4,319		$	(242	)
Components of accumulated other comprehensive income (loss), net of tax	'
		Foreign Currency			Effective Portion of			Total
		Translation			Unrealized Gain (Loss)			Accumulated
		Adjustments			on Derivative			Other
								Comprehensive
								Income (Loss)
	Balance at December 31, 2013	$	(368	)	$	486		$	118
	Changes in other comprehensive income (loss)	28			(12		)	16
	Balance at March 31, 2014	$	(340	)	$	474		$	134

Income_Taxes_Tables

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2014
Income Taxes	'
Schedule of tax years that remain subject to examination for the Company's major tax jurisdictions	'
	The tax years that remain subject to examination for the Company’s major tax jurisdictions at March 31, 2014 are shown below:
	2009 - 2013	United States—federal income tax
	2007 - 2013	United States—state and local income tax
	2010 - 2013	Canada

Fair_Value_Measurement_Tables

Fair Value Measurement (Tables)	3 Months Ended
	Mar. 31, 2014
Fair Value Measurement	'
Schedule of financial assets and liabilities measured at fair value on a recurring basis and basis of measurement	'
		Fair Value Measurement at								Fair Value Measurement at
		March 31, 2014 (unaudited)								December 31, 2013
		Level 1		Level 2			Level 3			Level 1		Level 2		Level 3
	Assets:
	Prepaid expenses and other
	Interest rate swap	—		$	804		—			—		$	824	—
	Liabilities:
	Accrued expenses
	Contingent acquisition consideration	—		—			$	1,366		—		—		$	1,374
	Other long term liabilities
	Contingent acquisition consideration	—		—			$	195		—		—		$	163
Schedule of reconciliation of the beginning and ending balances for liabilities measured at fair value using significant unobservable inputs (level 3)	'
		Due to Seller
	Balance at December 31, 2013	$	(1,537	)
	Payment of contingent consideration	141
	Change in fair value	(166		)
	Balance at March 31, 2014	$	(1,562	)
Schedule of carrying and estimated fair values of the Company's financial instruments	'
		March 31, 2014						December 31, 2013
		Carrying			Fair Value			Carrying			Fair Value
		Amount						Amount
	Cash and cash equivalents	$	24,271		$	24,271		$	23,158		$	23,158
	Long-term debt—
	Senior credit facility, net of discount	(302,320		)	(302,320		)	(286,672		)	(286,672		)
	Other obligations	$	(1,951	)	$	(1,951	)	$	(1,994	)	$	(1,994	)

Business_Unit_Segment_Informat1

Business Unit Segment Information (Tables)	3 Months Ended
	Mar. 31, 2014
Business Unit Segment Information	'
Summary of revenues (excluding reimbursed management contract revenue) and gross profit by regions	'
		Three Months			Gross		Three Months			Gross
		Ended March 31,			Margin %		Ended March 31,			Margin %
		2014					2013
	Revenues(a):
	Region One
	Lease contracts	70,014					72,083
	Management contracts (b)	24,988					28,447
	Total Region One	95,002					100,530
	Region Two
	Lease contracts	1,197					1,326
	Management contracts	12,720					10,215
	Total Region Two	13,917					11,541
	Region Three
	Lease contracts	11,879					11,413
	Management contracts	14,126					15,821
	Total Region Three	26,005					27,234
	Region Four
	Lease contracts	11,350					11,265
	Management contracts	26,528					24,728
	Total Region Four	37,878					35,993
	Region Five
	Lease contracts	22,387					25,050
	Management contracts	10,227					11,311
	Total Region Five	32,614					36,361
	Other
	Lease contracts	(192		)			(52		)
	Management contracts	1,366					(427		)
	Total Other	1,174					(479		)
	Reimbursed management contract revenue	169,178					159,477
	Total revenues	375,768					370,657
	Gross Profit
	Region One
	Lease contracts	(130		)	0	%	2,270			3	%
	Management contracts	11,672			47	%	13,469			47	%
	Total Region One	11,542					15,739
	Region Two
	Lease contracts	135			11	%	266			0	%
	Management contracts	3,047			24	%	2,277			22	%
	Total Region Two	3,182					2,543
	Region Three
	Lease contracts	599			5	%	778			7	%
	Management contracts	5,186			37	%	5,888			37	%
	Total Region Three	5,785					6,666
	Region Four
	Lease contracts	645			6	%	751			7	%
	Management contracts	8,178			31	%	5,500			22	%
	Total Region Four	8,823					6,251
	Region Five
	Lease contracts	3,447			15	%	4,885			20	%
	Management contracts	3,901			38	%	4,772			42	%
	Total Region Five	7,349					9,657
	Other
	Lease contracts	(145		)	76	%	17			100	%
	Management contracts	(1,243		)	(91	)%	(548		)	128	%
	Total Other	(1,388		)			(531		)
	Total gross profit	35,292					40,325
	General and administrative expenses	26,066					27,948
	General and administrative expense percentage of gross profit	74		%			69		%
	Depreciation and amortization	7,163					7,493
	Operating income	2,063					4,884
	Other expenses (income):
	Interest expense	4,809					4,840
	Interest income	(98		)			(111		)
	4,711					4,729
(Loss) income before income taxes	(2,648		)			155
Income tax (benefit)	(7,438		)			(154		)
Net income	4,790					309
Less: Net income attributable to noncontrolling interest	487					569
Net income (loss) attributable to SP Plus Corporation	$	4,303				$	(260	)
(a)                                 Excludes reimbursed management contract revenue.
(b)                                 The three months ended March 31, 2013 included a net gain of $2,700 related to the sale of rights associated with certain contracts.

Intangible_Assets_net_Details

Intangible Assets, net (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Intangible assets, net	'	'	'
Accumulated amortization	($23,983)	'	($20,181)
Intangible assets, net	102,420	'	106,222
Amortization expense	3,801	3,957	'
Covenant not to compete	'	'	'
Intangible assets, net	'	'	'
Intangible assets	933	'	933
Trade names and trademarks	'	'	'
Intangible assets, net	'	'	'
Intangible assets	9,820	'	9,820
Proprietary know how	'	'	'
Intangible assets, net	'	'	'
Intangible assets	34,650	'	34,650
Management contract rights	'	'	'
Intangible assets, net	'	'	'
Intangible assets	$81,000	'	$81,000

Acquisition_Details

Acquisition (Details) (KCPC, USD $)	0 Months Ended	3 Months Ended
	Oct. 02, 2012	Mar. 31, 2014	Mar. 31, 2013	Sep. 30, 2012
Acquisitions	'	'	'	'
Interest acquired (as a percent)	100.00%	'	'	'
Common stock issued (in shares)	6,161,332	'	'	'
Assumption of debt, net of cash acquired	$217,675,000	'	'	'
Contingent cash consideration	27,000,000	'	'	27,000,000
Period after which contingent cash consideration to be paid	'3 years	'	'	'
Price of share at which former stockholders of acquiree can elect to pay applicable amount (in dollars per share)	$23.64	'	'	'
Minimum cash consideration to cover capped indemnities	17,000	'	'	'
Settlement reducing cash consideration	'	'	'	'
Period in which reduction in cash consideration payable for the seller's indemnification made	'	'	'	'3 years
Central Net Debt Working Capital as defined in the Merger Agreement	'	'	'	-298,729,000
Threshold	'	'	'	285,000,000
Excess over the threshold	'	'	'	-13,729,000
Indemnification of certain defined adverse consequences, net	'	'	'	-6,237,000
Cash consideration payable in three years	27,000,000	'	'	27,000,000
Settled cash consideration	'	'	'	7,034,000
Fair value of the final consideration transferred	'	'	'	'
Stock consideration	'	'	'	140,726,000
Total consideration transferred	'	'	'	146,666,000
Acquisition and integration related costs included in general and administrative expenses	'	1,505,000	4,213,000	'
Fair Value	'	'	'	'
Settlement reducing cash consideration	'	'	'	'
Present value of cash consideration to be issued	'	5,940,000	'	8,943,000
Fair value of the final consideration transferred	'	'	'	'
Present value of cash consideration to be issued	'	$5,940,000	'	$8,943,000

StockBased_Compensation_Detail

Stock-Based Compensation (Details) (USD $)	3 Months Ended				1 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014
	Stock Options	Stock Options	Restricted Stock Units	Restricted Stock Units	Restricted stock units granted in March 2014
Stock-Based Compensation	'	'	'	'	'
Granted (in shares)	0	0	'	'	'
Recognized stock-based compensation expense	$0	$0	$796	$1,042	'
Unrecognized compensation costs related to unvested options	0	'	'	'	'
Units granted (in shares)	'	'	'	'	7,518
Vested (in shares)	'	'	0	5,000	'
Forfeited (in shares)	'	'	0	0	'
Unrecognized stock-based compensation costs	'	'	$6,654	'	'
Weighted average remaining recognition period of unrecognized stock-based compensation costs	'	'	'3 years 10 months 24 days	'	'

Net_Income_Loss_Per_Common_Sha2

Net Income (Loss) Per Common Share (Tables) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Net Income (Loss) Per Common Share	'	'
Weighted average common basic shares outstanding	21,977,836	21,870,771
Effect of dilutive stock options and restricted stock units	374,009	'
Weighted average common diluted shares outstanding	22,351,845	21,870,771
Net income (loss) per share:	'	'
Basic (in dollars per share)	$0.20	($0.01)
Diluted (in dollars per share)	$0.19	($0.01)
Stock options and restricted stock units not included in the computation of diluted net income per share	'	300,033

Bradley_Agreement_Details

Bradley Agreement (Details) (USD $)	1 Months Ended	3 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Apr. 30, 2000	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
		item
Deficiency payments	'	'	'	'	'
Deficiency payments:	'	'	'	'	'
Balance at the beginning of the year	'	$14,649	'	$14,649	'
Deficiency payments made	'	25	'	'	'
Deficiency payments received	'	-117	'	'	'
Balance at the end of the year	'	14,557	'	'	'
Bradley International Airport parking facilities operating agreement	'	'	'	'	'
Agreement	'	'	'	'	'
Agreement period with the State of Connecticut for operation of parking spaces	'25 years	'	'	'	'
Number of garage parking spaces at Bradley International Airport operated	'	3,500	'	'	'
Annual minimum guaranteed payment to the State by the trustee	'	'	'	10,815	10,593
Deficiency payments:	'	'	'	'	'
Maximum premium percentage on initial deficiency payment	'	10.00%	'	'	'
Net deficiency payments received (paid)	'	92	403	'	'
Premium income on deficiency payment received from trustee	'	14	'	'	'
Estimated accrued deficiency payments	'	0	'	'	100
Compensation	'	'	'	'	'
Management fee apportioned to the entity (as a percent)	'	60.00%	'	'	'
Management fee apportioned to an un-affiliated entity (as a percent)	'	40.00%	'	'	'
Unrecognized cumulative management fees	'	13,983	'	'	13,733
Management fees	'	0	0	'	'
Bradley International Airport parking facilities operating agreement | Low end of the range	'	'	'	'	'
Agreement	'	'	'	'	'
Annual minimum guaranteed payment to the State by the trustee	'	8,300	'	'	'
Bradley International Airport parking facilities operating agreement | High end of the range	'	'	'	'	'
Agreement	'	'	'	'	'
Annual minimum guaranteed payment to the State by the trustee	'	13,200	'	'	'
Bradley International Airport parking facilities operating agreement | State of Connecticut special facility revenue bonds | Low end of the range	'	'	'	'	'
Agreement	'	'	'	'	'
Annual principal and interest on revenue bonds	'	3,600	'	'	'
Bradley International Airport parking facilities operating agreement | State of Connecticut special facility revenue bonds | High end of the range	'	'	'	'	'
Agreement	'	'	'	'	'
Annual principal and interest on revenue bonds	'	$4,500	'	'	'

Borrowing_Arrangements_Details

Borrowing Arrangements (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Borrowing arrangements	'	'
Total debt	$304,271	$288,666
Less current portion	26,537	24,632
Long-term borrowings, excluding current portion	277,734	264,034
Senior Credit Facility, net of discount	'	'
Borrowing arrangements	'	'
Total debt	302,320	286,672
Senior Credit Facility	'	'
Maximum borrowing capacity	450,000	'
Period after end of each fiscal year mandatory repayment of principal required to be made	'90 days	'
Repayment of mandatory principal	7,940	0
Available borrowing capacity	46,683	'
Amount that could be borrowed	8,701	'
Letters of credit outstanding	56,167	'
Borrowings excluding debt discount	305,460	'
Debt discount	3,140	'
Senior Credit Facility, net of discount | Maximum	'	'
Senior Credit Facility	'	'
Total debt to EBITDA ratio that is required to be maintained	4	'
Senior Credit Facility, net of discount | Maximum | Period End of Each Fiscal Quarter Ending after 1st July 2014 Through 30th June 2015 [Member]	'	'
Senior Credit Facility	'	'
Total debt to EBITDA ratio that is required to be maintained	3.75	'
Senior Credit Facility, net of discount | Maximum | End of each fiscal quarter ending after July 1, 2014 through and including June 30, 2016	'	'
Senior Credit Facility	'	'
Total debt to EBITDA ratio that is required to be maintained	3.5	'
Senior Credit Facility, net of discount | Maximum | End of each fiscal quarter ending after July 1, 2016	'	'
Senior Credit Facility	'	'
Total debt to EBITDA ratio that is required to be maintained	3.25	'
Senior Credit Facility, net of discount | Minimum	'	'
Senior Credit Facility	'	'
Fixed charge coverage ratio that is required to be maintained	1.25	'
Senior Credit Facility, net of discount | Minimum | End of each fiscal quarter ending after July 1, 2014	'	'
Senior Credit Facility	'	'
Fixed charge coverage ratio that is required to be maintained	1.35	'
Revolving credit facility	'	'
Senior Credit Facility	'	'
Maximum borrowing capacity	200,000	'
Letter of credit facility	'	'
Senior Credit Facility	'	'
Maximum borrowing capacity	100,000	'
Term loan facility	'	'
Senior Credit Facility	'	'
Maximum borrowing capacity	250,000	'
Other obligations	'	'
Borrowing arrangements	'	'
Total debt	$1,951	$1,994

Borrowing_Arrangements_Details1

Borrowing Arrangements (Details 2) (Cash flow hedge, Interest rate swaps, USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Oct. 25, 2012
Cash flow hedge | Interest rate swaps	'	'	'
Interest rate swaps	'	'	'
Aggregate starting notional amount	'	'	$150,000
Fixed rate (as a percent)	0.75%	'	'
Variable rate basis	'LIBOR	'	'
Ineffective portion of cash flow hedges recognized	$0	$0	'

Comprehensive_Income_Loss_Deta

Comprehensive Income (Loss) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Comprehensive Income (Loss)	'	'
Net income	$4,790	$309
Effective portion of cash flow hedge	-12	153
Effect of foreign currency translation	28	-135
Comprehensive income	4,806	327
Less: comprehensive income attributable to noncontrolling interest	487	569
Comprehensive income (loss) attributable to SP Plus Corporation	4,319	-242
Accumulated Other Comprehensive Income	'	'
Balance at the beginning of the period	118	'
Change in other comprehensive income (loss)	16	'
Balance at the end of the period	134	'
Foreign Currency Translation Adjustments	'	'
Accumulated Other Comprehensive Income	'	'
Balance at the beginning of the period	-368	'
Change in other comprehensive income (loss)	28	'
Balance at the end of the period	-340	'
Effective Portion of Unrealized Gain (Loss) on Derivative	'	'
Accumulated Other Comprehensive Income	'	'
Balance at the beginning of the period	486	'
Change in other comprehensive income (loss)	-12	'
Balance at the end of the period	$474	'

Income_Taxes_Details

Income Taxes (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Income Taxes	'	'
Income tax expense recognized on pre-tax earnings	$7,438	$154
Effective tax rate (as a percent)	280.90%	99.40%
Effective tax rate before discrete benefits and true-up adjustments (as a percent)	280.90%	'
Discrete benefits for retroactive extension of tax credit programs	$6,359	'

Fair_Value_Measurement_Details

Fair Value Measurement (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Dec. 31, 2013
	Cash flow hedge	Cash flow hedge	Level 3	Level 3	Level 3	Recurring basis	Recurring basis	Recurring basis	Recurring basis	Recurring basis	Recurring basis
	Interest rate swaps	Interest rate swaps	Contingent acquisition consideration	Contingent acquisition consideration	Contingent acquisition consideration	Level 2	Level 2	Level 3	Level 3	Level 3	Level 3
				Minimum	Maximum	Prepaid expenses and other	Prepaid expenses and other	Contingent acquisition consideration	Contingent acquisition consideration	Contingent acquisition consideration	Contingent acquisition consideration
								Accrued expenses	Accrued expenses	Other long term liabilities	Other long term liabilities
Assets:	'	'	'	'	'	'	'	'	'	'	'
Interest Rate Swaps	'	'	'	'	'	$804	$824	'	'	'	'
Liabilities:	'	'	'	'	'	'	'	'	'	'	'
Contingent acquisition consideration	'	'	'	'	'	'	'	1,366	1,374	195	163
Fair Value Inputs	'	'	'	'	'	'	'	'	'	'	'
Probability of contingent consideration (as a percent)	'	'	'	5.00%	100.00%	'	'	'	'	'	'
Weighted average discount rate (as a percent)	'	'	11.00%	'	'	'	'	'	'	'	'
Ineffective portion of cash flow hedges recognized	$0	$0	'	'	'	'	'	'	'	'	'

Fair_Value_Measurement_Details1

Fair Value Measurement (Details 2) (Contingent acquisition consideration, USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Contingent acquisition consideration	'	'
Reconciliation of the beginning and ending balances for the liabilities measured at fair value using significant unobservable inputs (Level 3)	'	'
Balance at the beginning of the period	($1,537)	'
Payment of contingent consideration	141	'
Change in fair value	-166	308
Balance at the end of the period	($1,562)	'

Fair_Value_Measurement_Details2

Fair Value Measurement (Details 3) (Nonrecurring, USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Nonrecurring	'	'
Fair Value Measurement	'	'
Impairment charges	$0	$0

Fair_Value_Measurement_Details3

Fair Value Measurement (Details 4) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Fair Value Measurement	'	'
Long-term debt	($304,271)	($288,666)
Book overdrafts	26,748	29,310
Senior credit facility, net of discount	'	'
Fair Value Measurement	'	'
Long-term debt	-302,320	-286,672
Other obligations	'	'
Fair Value Measurement	'	'
Long-term debt	-1,951	-1,994
Carrying Amount	'	'
Fair Value Measurement	'	'
Cash and cash equivalents	24,271	23,158
Carrying Amount | Senior credit facility, net of discount	'	'
Fair Value Measurement	'	'
Long-term debt	-302,320	-286,672
Carrying Amount | Other obligations	'	'
Fair Value Measurement	'	'
Long-term debt	-1,951	-1,994
Fair Value	'	'
Fair Value Measurement	'	'
Cash and cash equivalents	24,271	23,158
Fair Value | Senior credit facility, net of discount	'	'
Fair Value Measurement	'	'
Long-term debt	-302,320	-286,672
Fair Value | Other obligations	'	'
Fair Value Measurement	'	'
Long-term debt	($1,951)	($1,994)

Business_Unit_Segment_Informat2

Business Unit Segment Information (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
	item
Business Unit Segment Information	'	'
Number of operating segments	4	'
Revenues:	'	'
Lease contracts	$116,635	$121,085
Management contracts	89,955	90,095
Total parking services revenue	206,590	211,180
Reimbursed management contract revenue	169,178	159,477
Total revenue	375,768	370,657
Gross profit	'	'
Lease contracts	4,551	8,967
Management contracts	30,741	31,358
Total gross profit	35,292	40,325
Gross Margin	'	'
General and administrative expenses	26,066	27,948
General and administrative expense percentage of gross profit	74.00%	69.00%
Depreciation and amortization	7,163	7,493
Operating income	2,063	4,884
Other expenses (income):	'	'
Interest expense	4,809	4,840
Interest income	-98	-111
Total other expenses (income)	4,711	4,729
(Loss) income before income taxes	-2,648	155
Income tax (benefit)	-7,438	-154
Net income	4,790	309
Less: Net income attributable to noncontrolling interest	487	569
Net income (loss) attributable to SP Plus Corporation	4,303	-260
Region One	'	'
Business Unit Segment Information	'	'
Number of Canadian provinces included in region one	3	'
Other expenses (income):	'	'
Net gain related to sale of rights associated with certain contracts	'	2,700
Operating segment | Region One	'	'
Revenues:	'	'
Lease contracts	70,014	72,083
Management contracts	24,988	28,447
Total parking services revenue	95,002	100,530
Gross profit	'	'
Lease contracts	-130	2,270
Management contracts	11,672	13,469
Total gross profit	11,542	15,739
Gross Margin	'	'
Lease contracts (as a percent)	0.00%	3.00%
Management contracts (as a percent)	47.00%	47.00%
Operating segment | Region Two	'	'
Revenues:	'	'
Lease contracts	1,197	1,326
Management contracts	12,720	10,215
Total parking services revenue	13,917	11,541
Gross profit	'	'
Lease contracts	135	266
Management contracts	3,047	2,277
Total gross profit	3,182	2,543
Gross Margin	'	'
Lease contracts (as a percent)	11.00%	0.00%
Management contracts (as a percent)	24.00%	22.00%
Operating segment | Region Three	'	'
Revenues:	'	'
Lease contracts	11,879	11,413
Management contracts	14,126	15,821
Total parking services revenue	26,005	27,234
Gross profit	'	'
Lease contracts	599	778
Management contracts	5,186	5,888
Total gross profit	5,785	6,666
Gross Margin	'	'
Lease contracts (as a percent)	5.00%	7.00%
Management contracts (as a percent)	37.00%	37.00%
Operating segment | Region Four	'	'
Revenues:	'	'
Lease contracts	11,350	11,265
Management contracts	26,528	24,728
Total parking services revenue	37,878	35,993
Gross profit	'	'
Lease contracts	645	751
Management contracts	8,178	5,500
Total gross profit	8,823	6,251
Gross Margin	'	'
Lease contracts (as a percent)	6.00%	7.00%
Management contracts (as a percent)	31.00%	22.00%
Operating segment | Region Five	'	'
Revenues:	'	'
Lease contracts	22,387	25,050
Management contracts	10,227	11,311
Total parking services revenue	32,614	36,361
Gross profit	'	'
Lease contracts	3,447	4,885
Management contracts	3,901	4,772
Total gross profit	7,349	9,657
Gross Margin	'	'
Lease contracts (as a percent)	15.00%	20.00%
Management contracts (as a percent)	38.00%	42.00%
Operating segment | Other	'	'
Revenues:	'	'
Lease contracts	-192	-52
Management contracts	1,366	-427
Total parking services revenue	1,174	-479
Gross profit	'	'
Lease contracts	-145	17
Management contracts	-1,243	-548
Total gross profit	($1,388)	($531)
Gross Margin	'	'
Lease contracts (as a percent)	76.00%	100.00%
Management contracts (as a percent)	-91.00%	128.00%