Central Parking Finance Trust PFD TR CV SECS (CRLKP) 10-Q 6 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 03, 2015
Document and Entity Information
Entity Registrant Name	SP Plus Corp
Entity Central Index Key	1,059,262
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
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		22,214,430
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Assets
Cash and cash equivalents	$ 23,786	$ 18,196
Notes and accounts receivable, net	115,168	109,287
Prepaid expenses and other	10,759	17,776
Deferred taxes	10,984	10,992
Total current assets	160,697	156,251
Leasehold improvements, equipment, land and construction in progress, net	39,874	42,784
Other assets:
Advances and deposits	5,206	6,693
Intangible assets, net	83,454	91,028
Favorable acquired lease contracts, net	43,389	48,268
Equity investments in unconsolidated entities	19,784	20,660
Other assets, net	18,533	16,697
Cost of contracts, net	11,371	10,481
Goodwill	432,591	432,888
Total other assets	614,328	626,715
Total assets	814,899	825,750
Liabilities and stockholders' equity
Accounts payable	97,944	106,519
Accrued and other current liabilities	91,130	103,844
Current portion of obligations under senior credit facility and other long-term borrowings	15,959	15,567
Total current liabilities	205,033	225,930
Deferred taxes		5,814
Long-term obligations under senior credit facility and other long-term borrowings	242,725	237,833
Unfavorable acquired lease contracts, net	55,756	61,350
Other long-term liabilities	69,212	65,011
Total noncurrent liabilities	$ 367,693	$ 370,008
Stockholders' equity:
Preferred Stock, par value $0.01 per share; 5,000,000 shares authorized as of June 30, 2015 and December 31, 2014; no shares issued
Common stock, par value $0.001 per share; 50,000,000 shares authorized as of June 30,2015 and December 31, 2014; 22,127,725 shares issued and outstanding as of June 30,2015 and December 31, 2014	$ 22	$ 22
Additional paid-in capital	245,934	243,867
Accumulated other comprehensive income (loss)	(797)	(205)
Accumulated deficit	(3,480)	(14,581)
Total SP Plus Corporation stockholders' equity	241,679	229,103
Noncontrolling interest	494	709
Total shareholders' equity	242,173	229,812
Total liabilities and stockholders' equity	$ 814,899	$ 825,750

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2015	Dec. 31, 2014
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)	$ 0.001	$ 0.001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	22,127,725	22,127,725
Common Stock Shares Outstanding	22,127,725	22,127,725

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Parking services revenue:
Lease contracts	$ 146,454	$ 124,958	$ 282,269	$ 241,593
Management contracts	88,305	84,931	182,363	174,886
Reimbursed management contract revenue	170,856	164,539	345,137	333,717
Total revenue	405,615	374,428	809,769	750,196
Cost of parking services:
Lease contracts	134,474	111,979	263,167	224,063
Management contracts	53,850	50,016	113,840	109,230
Reimbursed management contract expense	170,856	164,539	345,137	333,717
Total cost of parking services	359,180	326,534	722,144	667,010
Gross profit:
Lease contracts	11,980	12,979	19,102	17,530
Management contracts	34,455	34,915	68,523	65,656
Total gross profit	46,435	47,894	87,625	83,186
General and administrative expenses	24,739	24,996	50,412	51,062
Depreciation and amortization	8,165	7,730	16,099	14,893
Operating income	13,531	15,168	21,114	17,231
Other expenses (income)
Interest expense	3,062	4,811	7,105	9,620
Interest income	(40)	(94)	(100)	(192)
Equity in losses from investment in unconsolidated entity	353		824
Total other expenses (income)	3,375	4,717	7,829	9,428
Income before income taxes	10,156	10,451	13,285	7,803
Income tax provision (benefit)	(385)	4,254	950	(3,184)
Net income	10,541	6,197	12,335	10,987
Less: Net income attributable to noncontrolling interest	784	890	1,236	1,377
Net income attributable to SP Plus Corporation	$ 9,757	$ 5,307	$ 11,099	$ 9,610
Net income per share:
Basic (in dollars per share)	$ 0.44	$ 0.24	$ 0.50	$ 0.44
Diluted (in dollars per share)	$ 0.43	$ 0.24	$ 0.49	$ 0.43
Weighted average shares outstanding:
Basic (in shares)	22,145,190	21,991,965	22,136,458	21,984,912
Diluted (in shares)	22,521,832	22,398,886	22,505,403	22,375,377

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Condensed Consolidated Statements of Comprehensive Income
Net income	$ 10,541	$ 6,197	$ 12,335	$ 10,987
Other comprehensive loss	(110)	(209)	(592)	(193)
Comprehensive income	10,431	5,988	11,743	10,794
Less: comprehensive income attributable to noncontrolling interest	784	890	1,236	1,377
Comprehensive income attributable to SP Plus Corporation	$ 9,647	$ 5,098	$ 10,507	$ 9,417

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Operating activities
Net income	$ 12,335	$ 10,987
Adjustments to reconcile net income to net cash provided by operations
Depreciation and amortization	16,284	14,885
Net accretion of acquired lease contracts	(715)	(801)
Net loss on sale and abandonment of assets	118	244
Amortization of debt issuance costs	488	674
Amortization of original discount on borrowings	349	590
Write-off of debt issuance costs and original discount on borrowings	634	115
Non-cash stock-based compensation	2,133	1,941
Provisions for losses on accounts receivable	191	469
Excess tax benefit related to vesting of restricted stock units		87
Deferred income taxes	(6,288)	(6,804)
Net change in operating assets and liabilities	(15,355)	667
Net cash provided by operating activities	10,174	23,054
Investing activities
Purchase of leasehold improvements and equipment	(4,197)	(8,149)
Cost of contracts purchased	(2,686)	(662)
Proceeds from sale of assets	216	146
Capitalized interest		(17)
Contingent payments for a business acquired		(260)
Net cash used in investing activities	(6,667)	(8,942)
Financing activities
Tax benefit from vesting of restricted stock units		(87)
Contingent payments for businesses acquired	(57)	(141)
Proceeds from Senior Credit Facility and Restated Credit Facility revolver, net	2,300	6,800
Proceeds (payments) from Senior Credit Facility and Restated Credit Facility term loan, net	2,455	(19,190)
Payments of debt issuance costs for Restated Credit Facility	(888)
Distribution to noncontrolling interest	(1,209)	(1,372)
Redemption of convertible debentures	(68)
Borrowings (payments) on other long-term debt obligations	(155)	214
Net cash provided by (used in) financing activities	2,378	(13,776)
Effect of exchange rate changes on cash and cash equivalents	(295)	57
Increase in cash and cash equivalents	5,590	393
Cash and cash equivalents at beginning of period	18,196	23,158
Cash and cash equivalents at end of period	23,786	23,551
Cash paid (received) during the period for
Interest	5,788	7,168
Income taxes, net	$ 9,212	$ (3,139)

Significant Accounting Policies

Significant Accounting Policies and Practices	6 Months Ended
	Jun. 30, 2015
Significant Accounting Policies and Practices
Significant Accounting Policies and Practices	1. Significant Accounting Policies and Practices The Company SP Plus Corporation (the “Company”) provides parking management, ground transportation and other ancillary services to commercial, institutional and municipal clients in urban markets and airports across the United States, Puerto Rico and Canada. These services include a comprehensive set of on-site parking management and ground transportation services, which include facility maintenance, security services, training, scheduling and supervising all service personnel as well as providing customer service, marketing, and accounting and revenue control functions necessary to facilitate the operation of clients’ 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 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 Consolidated Balance Sheets, Statements of Income, Comprehensive Income 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- and six-month periods ended June 30, 2015 are not necessarily indicative of the results that might be expected for any other interim period or the fiscal year ended December 31, 2015. 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 6, 2015. 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 was $748 and $465 as of June 30, 2015 and December 31, 2014, respectively, and are included within Cash and cash equivalents within the Consolidated Balance Sheets. Financial Instruments The carrying values of Cash and cash equivalents, Accounts receivable and Accounts payable approximate their fair value due to the short-term nature of these financial instruments. Book overdrafts of $26,920 and $30,782 are included within Accounts payable within the Consolidated Balance Sheets as of June 30, 2015 and December 31, 2014, respectively. Long-term debt has a carrying value that approximates fair value because these instruments bear interest at variable market rates. Equity Investments in Unconsolidated Entities The Company has ownership interests in forty-five partnerships, joint ventures or similar arrangements that operate parking facilities, of which twenty-nine are VIEs and seventeen are voting interest model entities 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 its underlying share of each investee’s equity is included in Equity investments in unconsolidated entities within the 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 are included in Parking services revenue—Lease contracts within the Consolidated Financial Statements of Income. The equity earnings in these related investments was $526 and $531 for the three months ended June 30, 2015 and 2014, respectively, and $930 and $981 for the six months ended June 30, 2015 and 2014, respectively. In October 2014, the Company entered into an agreement to establish a joint venture with Parkmobile USA, Inc. (“Parkmobile USA”) and contributed all of the assets and liabilities of its proprietary Click and Park parking prepayment business in exchange for a 30 percent interest in the newly formed legal entity called Parkmobile, LLC (“Parkmobile”). The joint venture of Parkmobile will provide on-demand and prepaid transaction processing for on- and off-street parking and transportation services. The contribution of the Click and Park business in the joint venture resulted in a loss of control of the business, and therefore it was deconsolidated from the Company’s financial statements. The Company accounts for its investment in the joint venture with Parkmobile using the equity method of accounting, and its underlying share of equity in Parkmobile is included in Equity investments in unconsolidated entities within the Consolidated Balance Sheets. The equity earnings in the Parkmobile joint venture is included in Equity in losses from investment in unconsolidated entity within the Consolidated Statements of Income. Non-Controlling Interests Noncontrolling interests represent the noncontrolling holders’ percentage share of income or losses from the subsidiaries in which the Company holds a majority, but less than 100 percent, ownership interest and the results of which are consolidated and included within in our consolidated financial statements. Recently Issued Accounting Pronouncements In April 2015, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs . ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability instead of being presented as an asset. ASU 2015-03 requires retrospective application and represents a change in accounting principle. ASU 2015-03 is effective for fiscal years beginning after December 15, 2015. Early adoption is permitted for financial statements that have not been previously issued. The Company does not expect ASU 2015-03 to have a material effect on the Company’s results of operations, however, it will impact future balance sheet presentation and financial statement disclosures related to the Company’s debt issuance costs. In April 2015, the FASB issued ASU No. 2015-05, Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement . This ASU provides guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The new guidance does not change the accounting for a customer’s accounting for service contracts. ASU No. 2015-05 is effective for interim and annual reporting periods beginning after December 15, 2015. The Company is currently assessing the impact of adopting this standard on the Company’s financial position, results of operations, cash flows and financial statement disclosures. In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis . ASU 2015- 02 amends certain aspects of the consolidation guidance in U.S. GAAP. In particular, it will modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities (“VIEs”) or voting interest entities and also eliminates the presumption that a general partner should consolidate a limited partnership. The new guidance will also affect the consolidation analysis of the Company’s interests in VIEs, particularly those that have fee arrangements and related party relationships. ASU 2015-02 is effective on January 1, 2016 and retrospectively adoption is required either through a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the year of adoption or retrospectively for all comparative periods. Early adoption is permitted. The Company is currently assessing the impact of adopting this standard on the Company’s financial position, results of operations, cash flows and financial statement disclosures. In January 2015, the FASB issued ASU No. 2015-01, Income Statement—Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items . This Update eliminates from GAAP the concept of extraordinary items. The amendments in this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. A reporting entity may apply the amendments prospectively. A reporting entity also may apply the amendments retrospectively to all prior periods presented in the financial statements. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The Company does not expect the adoption of ASU 2015-01 to have material impact of adopting this standard on the Company’s financial statements. In June 2014, the FASB issued Accounting Standards Update (ASU) No. 2014-12 Compensation—Stock Compensation (Topic 718), Accounting for Share Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period . A performance target in a share-based payment that affects vesting and that could be achieved after the requisite service period should be accounted for as a performance condition under Accounting Standards Codification (ASC) 718, Compensation—Stock Compensation. As a result, the target is not reflected in the estimation of the award’s grant date fair value. Compensation cost would be recognized over the required service period, if it is probable that the performance condition will be achieved. The guidance is effective for annual periods beginning after December 15, 2015 and interim periods within those annual periods. Early adoption is permitted. The Company is currently assessing the impact of adopting this standard on the Company’s financial position, results of operations, cash flows and financial statement disclosures. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers . The amendments in ASU No. 2014-09 create Topic 606, Revenue from Contracts with Customers , and supersede the revenue recognition requirements in Topic 605, Revenue Recognition , including most industry specific revenue recognition guidance. In addition, the amendments supersede the cost guidance in Subtopic 605-35, Revenue Recognition—Construction-Type and Production-Type Contract , and create a new Subtopic 340-40, Other Assets and Deferred Costs—Contracts with Customers . The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. The amendments are effective for fiscal years and interim periods within those fiscal years beginning on or after December 15, 2017. Early adoption is not permitted. The Company is currently assessing the impact of adopting this standard on the Company’s financial position, results of operations, cash flows and financial statement disclosures.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2015
Commitments and contingencies.
Commitments and Contingencies	2. Commitments and Contingencies The Company is subject to claims and 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 potential liabilities associated with legal claims against the Company. Management obtains input 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 include provisions allocating to the Company responsibility for the cost of certain structural and other repairs required to be made to the leased property, including improvement and repair costs arising as a result of ordinary wear and tear. The Company recorded $1,983 and $841 during the three months ended June 30, 2015 and 2014, respectively, and $2,078 and $942 during the six months ended June 30, 2015 and 2014, respectively, of costs (net of expected recovery of the total cost through the applicable indemnity discussed further below and in Note 3. Acquisitions ) in Cost of parking services—Lease contracts within the Consolidated Statements of Income for structural and other repair costs related to certain lease contracts acquired in the Central Merger, whereby the Company has expensed repair costs for certain leases and engaged third-party general contractors to complete certain structural and other repair projects. The Company expects to incur substantial additional costs for certain structural and other repair costs pursuant to the contractual requirements of certain lease contracts acquired in the Central Merger (“Structural and Repair Costs”). Based on information available at this time, the Company currently expects the additional Structural and Repair Costs to be between $5,000 and $20,000; however, the Company continues to determine the extent of the required repairs and costs associated with the lease contracts acquired in the Central Merger. The Company currently expects to recover 80% of the Structural and Repair Costs incurred prior to October 2, 2015 through the applicable indemnity discussed further in Note 3. Acquisitions . While the Company is unable to estimate with certainty when such costs will be incurred, it is expected that all or a substantial majority of these costs will be incurred prior to October 2, 2015.

Acquisition

Acquisition	6 Months Ended
	Jun. 30, 2015
Acquisition
Acquisition	3. 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 (collectively, “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 (the “Cash Consideration”) in an amount equal to the sum of $27,000 plus, if and to the extent the Net Debt Working Capital (as defined below) was less than $275,000 (the “Lower Threshold”) as of September 30, 2012, the amount by which the Net Debt Working Capital was below such amount (such sum, the “Cash Consideration Amount”) 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 28, 2012 (the “Merger Agreement”). 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 negative working capital (as determined in accordance with the Merger Agreement) (the “Net Debt Working Capital”) exceeded $285,000 (the “Upper Threshold”) as of September 30, 2012 and (ii) for certain defined adverse consequences as set forth in the Merger Agreement (including with respect to Structural and Repair Costs). Pursuant to the Merger Agreement, Central’s former stockholders are required to satisfy certain indemnity obligations, which are capped at the Cash Consideration Amount (the “Capped Items”) only through a reduction of the Cash Consideration. For certain other indemnity obligations set forth in the Merger Agreement which are not capped at the Cash Consideration Amount (the “Uncapped Items”), including the Net Debt Working Capital indemnity obligations described above, Central’s former stockholders may satisfy any amount payable pursuant to such indemnity obligations as follows (provided that the Company reserves the right to reject the cash and stock alternatives and choose to reduce the Cash Consideration): · Central’s former stockholders can elect to pay such amount with cash; · Central’s former stockholders can elect to pay such amount with the Company’s common stock (valued at $23.64 per share, the market value as of the closing date of the Merger Agreement); or · Central’s former stockholders can elect to reduce the $27,000 cash consideration by such amount, subject to the condition that the cash consideration remains at least $17,000 to cover Capped Items. The Company has determined and concluded that the Net Debt Working Capital was $297,332 as of September 30, 2012 and that, accordingly, the Net Debt Working Capital exceeded the threshold by $12,332. In addition, the Company has determined that it currently has indemnity claims of $18,756 for certain defined adverse consequences (including indemnity claims with respect to Structural and Repair Costs incurred through June 30, 2015) and the Company expects to have additional indemnity claims in the future as new matters arise. 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 using cash or stock as the payment of any Uncapped Items. Furthermore, following the Company’s notices of indemnification matters, the representative of Central’s former stockholders has indicated that they may make additional inquiries and raise issues with respect to the Company’s indemnification claims (including, specifically, as to Structural and Repair Costs) and that they may assert various claims of their own relating to the Merger Agreement. On April 30, 2015, with respect to the Company’s Net Debt Working Capital calculation, the representative of Central’s former stockholders submitted specific objections to such calculation, asserting that the Net Debt Working Capital as of September 30, 2012 was $270,757 ($4,242 below the Lower Threshold). The Company continues to review and evaluate the Selling Stockholders specific objections to the Company’s calculation of Net Debt Working Capital, but currently believes that these indemnification claims should sustain challenge from the former Central stockholders and that recoverability of these indemnification claims by the Company is reasonably assured. Under the Merger Agreement, all post-closing claims and disputes, including as to indemnification matters, are ultimately subject to resolution through binding arbitration or, in the case of a dispute as to the calculation of Net Debt Working Capital, resolution by an independent public accounting firm. The Company and the representative of Central’s former stockholders are currently engaged in the dispute resolution process for Net Debt Working Capital, as discussed above, although the Company’s pursuit of this process and the process available for other post-closing claims and disputes, including as to indemnification matters, may be delayed by actions taken by representatives of Central’s former stockholders. Should the dispute resolution process result in determinations unfavorable to the Company (either as to the Net Debt Working Capital calculation and/or other indemnification matters), the resulting resolution may have a material impact on the Company’s consolidated financial statements. In determining the indemnity claims for certain defined adverse consequences of $18,756, the Company has evaluated the nature of the costs and related indemnity claims and has concluded that it is probable that such indemnified claims will sustain any challenge from Central’s former stockholders and recoverability of these indemnified claims is reasonably assured. As previously discussed in Note 2. Commitment and Contingencies, certain lease contracts acquired in the Central Merger include provisions allocating to the Company responsibility for all or a defined portion of the costs of certain structural and other repair costs required on the property, including improvement and repair costs arising as a result of ordinary wear and tear. As the Company incurs additional Structural and Repair Costs, that meet the requirements of the indemnification provisions established in the Merger Agreement (including as to being incurred prior to October 2, 2015), the Company will seek indemnification for a significant portion (generally 80%) of these costs pursuant to the Merger Agreement. The Company has reduced the cash consideration payable in three years from the acquisition date by $12,332, representing the amount Net Debt Working Capital exceeded the Upper Threshold, and $18,756, representing the amount of indemnified claims for certain adverse consequences (including, but not limited to Structural and Repair Costs), but only to the extent these indemnified claims do not exceed the $27,000 cash consideration payable three years from the acquisition date. While the Company believes the indemnification claims in excess of the $27,000 cash consideration date payable in three years from the acquisition date should sustain any challenge from Selling Stockholders, the Company has not recognized the recovery of $4,088 as a receivable and corresponding gain or reduction of costs incurred by the Company, as these additional indemnified claims are contingent in nature. The following sets forth the adjustments to the cash consideration payable by the Company to the former stockholders of Central, based upon the foregoing determinations: Cash consideration payable in three years from the acquisition date, pursuant to the Merger Agreement and prior to Central Net Debt Working Capital and indemnification of certain defined adverse consequences, net $ Net Debt Working Capital at September 30, 2012 as defined in the Merger Agreement $ ) Threshold of Net Debt Working Capital, pursuant to the Merger Agreement $ Excess over the threshold of Net Debt Working Capital ) Indemnification of certain defined adverse consequences, net ) Indemnification claims for Net Debt Working Capital and certain adverse consequences in excess of the $27,000 cash consideration payable in three years from the acquisition date ) Indemnification claims for Net Debt Working Capital and certain adverse consequences not recognized due to the contingent nature of these claims Cash consideration payable three years from the acquisition date (October 2, 2015) $ — The Central Merger 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 of 2013. The Company incurred certain acquisition and integration costs associated with the transaction that were expensed as incurred and are reflected in the Consolidated Statements of Income. The Company recognized $374 and $537 of these costs in its Consolidated Statements of Income for the three months ended June 30, 2015 and 2014, respectively, in General and administrative expenses. The Company recognized $1,872 and $2,042 of these costs in its Consolidated Statements of Income for the six months ended June 30, 2015 and 2014, respectively, in General and administrative expenses.

Intangible Assets, net

Intangible Assets, net	6 Months Ended
	Jun. 30, 2015
Intangible Assets, net
Intangible Assets, net	4. Intangible Assets, net The following presents a summary of intangible assets, net: June 30, 2015 (unaudited) December 31, 2014 Weighted Average Life (in Years) Acquired Intangible Assets, Gross (1) Accumulated Amortization Acquired Intangible Assets, Net Acquired Intangible Assets, Gross (1) Accumulated Amortization Acquired Intangible Assets, Net Covenant not to compete 3.5 $ $ $ $ $ $ Trade names and trademarks 4.4 Proprietary know how 9.9 Management contract rights 16.0 Acquired intangible assets, net (2) 13.8 $ $ $ $ $ $ (1) Excludes the original cost and accumulated amortization of fully amortized intangible assets. (2) Intangible assets have estimated useful lives between one and nineteen years. Three Months Ended Six Months Ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Amortization expense related to intangible assets included in depreciation and amortization $ $ $ $

Goodwill

Goodwill	6 Months Ended
	Jun. 30, 2015
Goodwill
Goodwill	5. Goodwill The amounts for goodwill and changes to carrying value by operating segment are as follows (unaudited): Region One Region Two Region Three Region Four Region Five Total Balance as of December 31, 2014 (1) $ $ $ $ $ $ Foreign currency translation — — — — Balance as of June 30, 2015 $ $ $ $ $ $ (1) Due to the new segment reporting effective as of January 1, 2015, goodwill allocated to previous reporting units of Region One, Region Two, Region Three and Region Five have been reallocated to new reporting units on a retrospective basis for all periods presented. The Company tests goodwill at least annually for impairment (the Company has elected to annually test for potential impairment of goodwill on the first day of the fourth quarter) and tests more frequently if indicators are present or changes in circumstances suggest that impairment may exist. The indicators include, among others, declines in sales, earning or cash flows or the development of a material adverse change in business climate. The Company assesses goodwill for impairment at the reporting unit level, which is defined as an operating segment or one level below an operating segment, referred to as a reporting unit. Due to a change in the Company’s segment reporting effective January 1, 2015, the goodwill allocated to previous reporting units have been reallocated to new reporting units based on the relative fair value of the new reporting units. See also Note 13. Business Unit Segment Information for further disclosure on the Company’s change in reporting segments effective January 1, 2015. During the first quarter 2015 and as a result of the change in internal reporting segment information, the Company completed a quantitative test (Step One) of goodwill impairment as of January 1, 2015 and concluded that the estimated fair values of each of the Company’s reporting units exceeded its carrying amount of net assets assigned to that reporting unit and therefore no further testing was required (Step Two). In conducting the January 1, 2015 goodwill impairment quantitative test (Step One), the Company analyzed actual and projected growth trends of the reporting units, gross margin, operating expenses and Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”) (which also includes forecasted five-year income statement and working capital projection, a market – based weighted average cost of capital and terminal values after five years). 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. As part of the January 1, 2015 goodwill assessment, the Company engaged a third-party to evaluate its reporting unit’s fair values. The reporting units are internally reported as Region One (North), Region Two (South), Region Three (New York Metropolitan tri-state area of New York, New Jersey and Connecticut), Region Four (Airport transportation operations nationwide), Region Five (other reporting units of USA Parking and event planning and transportation services). For purposes of reportable segments, the goodwill in Region Five is attributable to USA Parking and event planning and transportation services reporting units.

Fair Value Measurement

Fair Value Measurement	6 Months Ended
	Jun. 30, 2015
Fair Value Measurement
Fair Value Measurement	6. 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 sets forth the Company’s financial assets and liabilities measured at fair value on a recurring basis and the basis of measurement at June 30, 2015 and December 31, 2014: Fair Value Measurement June 30, 2015 (unaudited) December 31, 2014 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets Prepaid expenses and other Interest rate swap — $ — — $ — Total — $ — — $ — Liabilities Accrued expenses Contingent acquisition consideration — — $ — — $ Other long term liabilities Contingent acquisition consideration — — — — Total — — $ — — $ Interest Rate Swap 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 Statements of Income 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 Statements of Income 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 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 six months ended June 30, 2015 and 2014. Contingent Acquisition Consideration 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 12% to 50%, with a weighted average discount rate of 12%. The following 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, 2014 $ ) Payments Change in fair value ) Balance at June 30, 2015 $ ) For the three months ended June 30, 2015 and 2014, the Company recognized a reduction of expense of $28 and expense of $491, respectively, in General and administrative expenses within the Consolidated Statements of Income due to the change in fair value measurements using a Level 3 valuation technique. For the six months ended June 30, 2015 and 2014, the Company recognized an expense of $6 and $657, respectively, and recognized the related expense and benefit 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 this business. 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 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 six months ended June 30, 2015 and 2014. Financial instruments not measured at fair value The following presents the carrying amounts and estimated fair values of financial instruments not measured at fair value in the Consolidated Balance Sheets at June 30, 2015 and December 31, 2014: June 30, 2015 (unaudited) December 31, 2014 Carrying Amount Fair Value Carrying Amount Fair Value Financial Assets Cash and cash equivalents $ $ $ $ Financial Liabilities Long-term obligations under senior credit facility and other long-term borrowings $ ) $ ) $ ) $ ) 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.

Borrowing Arrangements

Borrowing Arrangements	6 Months Ended
	Jun. 30, 2015
Borrowing Arrangements
Borrowing Arrangements	7. Borrowing Arrangements Long-term borrowings, in order of preference, consist of: Amount Outstanding Maturity Date June 30, 2015 (unaudited) December 31, 2014 Obligations under Credit Agreement and Restated Credit Agreement, net of original discount on borrowings (1) / (2) $ $ Other debt obligations Various Total debt obligations Less: Current portion under Senior Credit Facility and other debt obligations Total long-term borrowings $ $ (1) Credit Agreement was due to mature on October 2, 2017. (2) Restated Credit Agreement matures on February 20, 2020. Senior Credit Facility On October 2, 2012, the Company entered into a credit agreement (the “Credit Agreement”) with Bank of America, as administrative agent, Wells Fargo Bank, N.A. 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. Pursuant to the terms, and subject to the conditions, of the Credit Agreement, the Lenders made available to the Company a secured Senior Credit Facility (the “Senior Credit Facility”) that permitted aggregate borrowings of $450,000 consisting of (i) a revolving credit facility of up to $200,000 at any time outstanding, which included a letter of credit facility that was limited to $100,000 at any time outstanding, and (ii) a term loan facility of $250,000. The Senior Credit Facility was due to mature on October 2, 2017. The Credit Agreement required the Company 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 March 2014, the Company made a mandatory principal repayment of $7,940, as provided under the Credit Agreement. Amended and Restated Credit Facility On February 20, 2015 (“Amended and Restatement Date”), the Company entered into an Amended and Restated Credit Agreement (the “Restated Credit Agreement”) with Bank of America, N.A. (“Bank of America”), as administrative agent, an issuing lender and swing-line lender; Wells Fargo Bank, N.A., as an issuing lender and syndication agent; U.S. Bank National Association, First Hawaiian Bank and BMO Harris Bank N.A., as co-documentation agents; Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wells Fargo Securities, LLC, as joint lead arrangers and joint book managers; and the lenders party thereto (the “Lenders”). The Restated Credit Facility reflects modifications to, and an extension of, the existing Credit Agreement. Pursuant to the terms, and subject to the conditions, of the Restated Credit Agreement, the Lenders have made available to the Company a senior secured credit facility (the “Restated Senior Credit Facility”) that permits aggregate borrowings of $400,000 consisting of (i) a revolving credit facility of up to $200,000 at any time outstanding, which includes a $100,000 sublimit for letters of credit and a $20,000 sublimit for swing-line loans, and (ii) a term loan facility of $200,000 (reduced from $250,000). The Company may request increases of the revolving credit facility in an aggregate additional principal amount of $100,000. The Restated Senior Credit Facility matures on February 20, 2020. The entire amount of the term loan portion of the Restated Senior Credit Facility had been drawn by the Company as of the Amended and Restatement Date (including approximately $10,400 drawn on such date) and is subject to scheduled quarterly amortization of principal as follows: (i) $15,000 in the first year, (ii) $15,000 in the second year, (iii) $20,000 in the third year, (iv) $20,000 in the fourth year, (v) $20,000 in the fifth year and (vi) $110,000 in the sixth year. The Company also had outstanding borrowings of $147,299 (including $53,449 in letters of credit) under the revolving credit facility as of the Amended and Restatement Date. Borrowings under the Restated Senior Credit Facility bear interest, at the Company’s option, (i) at a rate per annum based on the Company’s consolidated total debt to EBITDA ratio for the 12-month period ending as of the last day of the immediately preceding fiscal quarter, determined in accordance with the pricing levels set forth in the Restated Credit Agreement (the “ Applicable Margin”), plus LIBOR or (ii) the Applicable Margin plus the highest of (x) the federal funds rate plus 0.5%, (y) the Bank of America prime rate and (z) a daily rate equal to LIBOR plus 1.0% (the highest of (x), (y) and (z), the “Base Rate”), except that all swing-line loans will bear interest at the Base Rate plus the Applicable Margin. Under the terms of the Restated Credit Agreement, the Company is required to maintain a maximum consolidated total debt to EBITDA ratio of not greater than 4.0 to 1.0 as of the end of any fiscal quarter ending during the period from the Amended and Restatement Date through September 30, 2015, (ii) 3.75 to 1.0 as of the end of any fiscal quarter ending during the period from October 1, 2015 through September 30, 2016, and (iii) 3.5 to 1.0 as of the end of any fiscal quarter ending thereafter. In addition, the Company is required to maintain a minimum consolidated fixed charge coverage ratio of not less than 1:25:1.0. Events of default under the Restated 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 the 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 Restated Credit Agreement have the right, among others, to (i) terminate the commitments under the Restated Credit Agreement, (ii) accelerate and require the Company to repay all the outstanding amounts owed under the Restated Credit Agreement and (iii) require the Company to cash collateralize any outstanding letters of credit. Each wholly-owned domestic subsidiary of the Company (subject to certain exceptions set forth in the Restated Credit Agreement) has guaranteed all existing and future indebtedness and liabilities of the other guarantors and the Company arising under the Restated Credit Agreement. The Company’s obligations under the Restated Credit Agreement and such domestic subsidiaries’ guaranty obligations are secured by substantially all of their respective assets. The Company was in compliance with all covenants as of June 30, 2015. As of June 30, 2015, the Company had $80,501 of borrowing availability under the Restated Credit Agreement, of which the Company could have borrowed $80,501 on June 30, 2015 and remained in compliance with the above described covenants as of such date. The additional borrowing availability under the Restated Credit Agreement is limited only as of the Company’s fiscal quarter-end by the covenant restrictions described above. At June 30, 2015, the Company had $53,449 million of letters of credit outstanding under the Restated Senior Credit Facility, with aggregate borrowings against the Restated Senior Credit Facility of $258,550 (excluding original discount on borrowings of $2,033). In connection with and effective upon the execution and delivery of the Restated Credit Agreement on February 20, 2015, the Company recorded losses on extinguishment of debt, relating to debt discount and debt issuance costs, of $634. Interest Rate Swap Transactions In October 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 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 the Company assesses 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 June 30, 2015, no ineffectiveness of the hedge has been recognized in interest expense. See Note 5. Fair Value Measurement for the fair value of the interest rate swap as of June 30, 2015 and December 31, 2014. The Company does not enter into derivative instruments for any purpose other than for cash flow hedging purposes.

Bradley Agreement

Bradley Agreement	6 Months Ended
	Jun. 30, 2015
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, 2015 and 2014 is $11,042 and was $10,815, 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 to the State of Connecticut, net of reimbursements, as of June 30, 2015 (unaudited) are as follows: 2015 Balance at December 31, 2014 $ Deficiency payments made Deficiency repayment received ) Balance at June 30, 2015 $ During the three months ended June 30, 2015 and 2014, the Company received deficiency repayments (net of payments made) of $795 and $957, received and recorded interest of $213 and $nil and premium of $71 and $104, respectively, with the net of these amounts recorded as a reduction in Cost of parking services—Management contracts within the Consolidated Statements of Income. During the six months ended June 30, 2015 and 2014, the Company received deficiency repayments (net of payments made) of $799 and $1,050 and received and recorded interest of $256 and $nil and premium of $79 and $117, respectively, with the net of these amounts recorded as reduction in Cost of parking services—Management contracts within the Consolidated Statements 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 June 30, 2015 and December 31, 2014, as the Company concluded that the potential for future deficiency payments did not meet the criteria of both probable and estimable. 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 unaffiliated entity and the annual management fee will be paid to the extent funds are available for the trustee to make a 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 $15,233 and $14,733 have not been recognized as of June 30, 2015 and December 31, 2014, respectively, and no management fees were recognized as revenue for the six months ended June 30, 2015 and 2014.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2015
Stock-Based Compensation
Stock-Based Compensation	9. Stock-Based Compensation Stock Options and Grants There were no stock options granted during the six months ended June 30, 2015 and 2014. The Company recognized no stock-based compensation expense related to stock options for the three months ended June 30, 2015 and 2014, as all stock options previously granted were fully vested. As of June 30, 2015, there were no unrecognized compensation costs related to unvested stock options. On April 21, 2015, the Company authorized vested stock grants to certain directors totaling 32,357 common shares. The total value of the grant, based on the fair value of common stock on the grant date, was $722 and is included in General and administrative expenses within the Consolidated Statement of Income. On April 22, 2014, the Company authorized vested stock grants to certain directors totaling 19,336 common shares. The total value of the grant, based on the fair value of common stock on the grant date, was $491 and is included in General and administrative expenses within the Consolidated Statement of Income. Restricted Stock Units During the six months ended June 30, 2015, the Company authorized certain one-time grants of 3,963 restricted stock units to an executive that vest five years from date of issuance. During the six months ended June 30, 2015 and 2014, 1,416 restricted stock units vested. No restricted stock units were forfeited in the six months ended June 30, 2015. During the six months ended June 30, 2014, 4,124 restricted stock units were forfeited under the amended and restated Long-Term Incentive Plan and became available for reissuance. The Company recognized $403 and $721 of stock-based compensation expense related to the restricted stock units for the three months ended June 30, 2015 and 2014, respectively, which is included in General and administrative expenses within the Consolidated Statements of Income. The Company recognized $805 and $1,450 of stock-based compensation expenses related to restricted stock units for the six months ended June 30, 2015 and 2014, respectively, which is included in General and administrative expenses within the Consolidated Statements of Income. As of June 30, 2015, there was $3,720 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 4.1 years. Performance Share Units In September 2014, the Board of Directors authorized a performance-based incentive program under the Company’s Long-Term Incentive Plan (“Performance-Based Incentive Program”), whereby, the Company will issue performance share units to certain executive management individuals that represent shares potentially issuable in the future. The objective of the Performance-Based Incentive Program is to link compensation to business performance, encourage ownership of Company stock, retain executive talent, and reward executive performance. The Performance-Based Incentive Program provides participating executive management individuals with the opportunity to earn vested common stock if certain performance targets for pre-tax free cash flow are achieved over a three year performance period and recipients satisfy service-based vesting requirements. The stock-based compensation expense associated with unvested performance share units are recognized on a straight-line basis over the shorter of the vesting period or minimum service period and dependent upon the probable outcome of the number of shares that will ultimately be issued based on the achievement of pre-tax free cash flow over the cumulative three year period. In April 2015 and September 2014 the Company granted 103,600 and 91,054 performance share units, respectively, to certain individuals within executive management. No performance share units were forfeited during 2015 and no performance share units were vested as of June 30, 2015. The Company recognized $445 and $606 of stock-based compensation expense related to the Performance-Based Incentive Program for the three and six months ended June 30, 2015, respectively, and is included in General and administrative expenses within the Consolidated Statements of Income. During the six months ended June 30, 2015, no performance-based shares were forfeited. There was no such program in place during the six months ended June 30, 2014. Future compensation expense for currently outstanding awards under the Performance Based Incentive Program could reach a maximum of $7,806. Stock-based compensation for the Performance-Based Incentive Program is expected to be recognized over a weighted average period of 2.1 years.

Net Income Per Common Share

Net Income Per Common Share	6 Months Ended
	Jun. 30, 2015
Net Income Per Common Share
Net Income Per Common Share	10. Net Income 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 Six Months Ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Weighted average common basic shares outstanding Effect of dilutive stock options and restricted stock units Weighted average common diluted shares outstanding Net income (loss) per share Basic $ $ $ $ Diluted $ $ $ $ For the three and six months ended June 30, 2015, performance share units were excluded in the computation of weighted average diluted common share outstanding because the number of shares ultimately issuable is contingent upon the Company’s attainment of certain performance targets. There was no Performance-Based Incentive Program in place during the six months ended June 30, 2014. There are no additional securities that could dilute basic earnings per share in the future that were not included in the computation of diluted earnings per share, other than those disclosed.

Comprehensive Income

Comprehensive Income	6 Months Ended
	Jun. 30, 2015
Comprehensive Income
Comprehensive Income	11. Comprehensive Income Comprehensive income consists of the following components, net of tax (unaudited): Three Months Ended Six Months Ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Net income $ $ $ $ Effective portion of unrealized gain (loss) on cash flow hedge ) ) ) Foreign currency translation ) ) Comprehensive income Less: Comprehensive income attributable to noncontrolling interest Comprehensive income attributable to SP Plus Corporation $ $ $ $ Accumulated other comprehensive income 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 tax, for the six months ended June 30, 2015 were as follows (unaudited): Foreign Currency Translation Adjustments Effective Portion of Unrealized Gain (Loss) on Cash Flow Hedge Total Accumulated Other Comprehensive Income (Loss) Balance at December 31, 2014 $ ) $ $ Change in other comprehensive income (loss) ) ) Balance at June 30, 2015 $ ) $ $

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2015
Income Taxes
Income Taxes	12. Income Taxes For the three months ended June 30, 2015, the Company recognized an income tax benefit of $385 on pre-tax earnings of $10,156 compared to $4,254 income tax expense on pre-tax earnings of $10,451 for the three months ended June 30, 2014. For the six months ended June 30, 2015, the Company recognized income tax expense of $950 on pre-tax earnings of $13,285 compared to $3,184 income tax benefit on pre-tax earnings of $7,803 for the six months ended June 30, 2014. The effective tax rate for the six months ended June 30, 2015 was 7.2% for the six months ended June 30, 2015 compared to a benefit of 40.8% for the six months ended June 30, 2014. The effective tax rate for the six months ended June 30, 2015 increased primarily as a result a reduction in the reversal of valuation allowances for deferred tax assets established for historical net operating losses in the six months ended June 30, 2015, compared to the six months ended June 30, 2014. During the six months ended June 30, 2015 the Company recognized a $4,604 discrete benefit primarily for the reversal of a valuation allowance for a deferred tax asset established for historical net operating losses attributable to the City of New York, New York (“New York City”). The valuation allowance was reversed in the second quarter of 2015 due to the New York City law changes enacted April 1, 2015, which resulted in the Company determining that the future benefit of net operating loss carryforwards was more likely than not to be recognized. During the six months ended June 30, 2014 the Company recognized 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. As of June 30, 2015, 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 June 30, 2015 are shown below: 2011 – 2014 United States — federal income tax 2007 – 2014 United States — state and local income tax 2011 – 2014 Canada

Business Unit Segment Informati

Business Unit Segment Information	6 Months Ended
	Jun. 30, 2015
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 discrete 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 six operating segments. The CODM assesses the performance of each operating segment using information about its revenue and gross profit as its primary measure of performance, 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. Effective January 1, 2015, the Company began certain organizational and executive leadership changes to align with how the CODM reviews performance and makes decisions in managing the Company and therefore, changed internal operating segment information reported to the CODM. The operating segments are internally reported as Region One (North), Region Two (South), Region Three (New York Metropolitan tri-state area of New York, New Jersey and Connecticut), Region Four (Airport transportation operations nationwide, Region Five (other operating segments of USA Parking and event planning and transportation services). All prior periods presented have been restated to reflect the new internal reporting to the CODM. Region One encompasses operations in Delaware, District of Columbia, Illinois, Indiana, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Northern California, Ohio, Oregon, Pennsylvania, Rhode Island, Virginia, Washington, West Virginia, Wisconsin and four Canadian provinces of Alberta, Manitoba, Ontario and Quebec. Region Two encompasses operations in Alabama, Arizona, Colorado, Florida, Georgia, Hawaii, Kansas, Louisiana, Mississippi, Missouri, Nebraska, New Mexico, North Carolina, Oklahoma, South Carolina, Southern California, Tennessee, Texas Utah and Puerto Rico. Region Three encompasses operations in the New York metropolitan tri-state area of New York, New Jersey and Connecticut. Region Four encompasses all major airport and transportation operations nationwide. Region Five encompasses other operating segments including USA Parking and event planning and transportation services. Other consists of ancillary revenue that is not specifically identifiable to a region and insurance reserve adjustments related to prior years. The business is managed based on regions administered by executive vice presidents. The following is a summary of revenues (excluding reimbursed management contract revenue) and gross profit by regions for the three and six months ended June 30, 2015 and 2014 (unaudited): Three Months Ended Six Months Ended June 30, 2015 Gross Margin % June 30, 2014 Gross Margin % June 30, 2015 Gross Margin % June 30, 2014 Gross Margin % Revenues Region One Lease contracts $ $ $ $ Management contracts Total Region One Region Two Lease contracts Management contracts Total Region Two Region Three Lease contracts Management contracts Total Region Three Region Four Lease contracts Management contracts Total Region Four Region Five Lease contracts Management contracts Total Region Five Other Lease contracts Management contracts Total Other Reimbursed management contract revenue Total Revenues $ $ $ Gross Profit Region One Lease contracts $ % $ % $ % $ % Management contracts % % % % Total Region One Region Two Lease contracts % % % % Management contracts % % % % Total Region Two Region Three Lease contracts % % % % Management contracts % % % % Total Region Three Region Four Lease contracts % % % % Management contracts % % % % Total Region Four Three Months Ended Six Months Ended June 30, 2015 Gross Margin % June 30, 2014 Gross Margin % June 30, 2015 Gross Margin % June 30, 2014 Gross Margin % Region Five Lease contracts ) -2 % % % % Management contracts % % % % Total Region Five Other Lease contracts ) -18356 % % ) -6289 % % Management contracts % % % % Total Other Total gross profit $ $ $ General and administrative expenses General and administrative expense percentage of gross profit % % % Depreciation and amortization Operating income Other expenses (income) Interest expense Interest income ) ) ) ) Equity in losses from investment in unconsolidated entity — — Income (loss) before income taxes Income tax (benefit) ) ) Net income Less: Net income attributable to noncontrolling interest Net income attributable to SP Plus Corporation $ $ $ $

Significant Accounting Polici20

Significant Accounting Policies and Practices (Policies)	6 Months Ended
	Jun. 30, 2015
Significant Accounting Policies and Practices.
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 Consolidated Balance Sheets, Statements of Income, Comprehensive Income 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- and six-month periods ended June 30, 2015 are not necessarily indicative of the results that might be expected for any other interim period or the fiscal year ended December 31, 2015. 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 6, 2015.
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 was $748 and $465 as of June 30, 2015 and December 31, 2014, respectively, and are included within Cash and cash equivalents within the Consolidated Balance Sheets.
Financial Instruments	Financial Instruments The carrying values of Cash and cash equivalents, Accounts receivable and Accounts payable approximate their fair value due to the short-term nature of these financial instruments. Book overdrafts of $26,920 and $30,782 are included within Accounts payable within the Consolidated Balance Sheets as of June 30, 2015 and December 31, 2014, respectively. Long-term debt has a carrying value that approximates fair value because these instruments bear interest at variable market rates.
Equity Investments in Unconsolidated Entities	Equity Investments in Unconsolidated Entities The Company has ownership interests in forty-five partnerships, joint ventures or similar arrangements that operate parking facilities, of which twenty-nine are VIEs and seventeen are voting interest model entities 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 its underlying share of each investee’s equity is included in Equity investments in unconsolidated entities within the 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 are included in Parking services revenue—Lease contracts within the Consolidated Financial Statements of Income. The equity earnings in these related investments was $526 and $531 for the three months ended June 30, 2015 and 2014, respectively, and $930 and $981 for the six months ended June 30, 2015 and 2014, respectively. In October 2014, the Company entered into an agreement to establish a joint venture with Parkmobile USA, Inc. (“Parkmobile USA”) and contributed all of the assets and liabilities of its proprietary Click and Park parking prepayment business in exchange for a 30 percent interest in the newly formed legal entity called Parkmobile, LLC (“Parkmobile”). The joint venture of Parkmobile will provide on-demand and prepaid transaction processing for on- and off-street parking and transportation services. The contribution of the Click and Park business in the joint venture resulted in a loss of control of the business, and therefore it was deconsolidated from the Company’s financial statements. The Company accounts for its investment in the joint venture with Parkmobile using the equity method of accounting, and its underlying share of equity in Parkmobile is included in Equity investments in unconsolidated entities within the Consolidated Balance Sheets. The equity earnings in the Parkmobile joint venture is included in Equity in losses from investment in unconsolidated entity within the Consolidated Statements of Income.
Non-controlling Interests	Non-Controlling Interests Noncontrolling interests represent the noncontrolling holders’ percentage share of income or losses from the subsidiaries in which the Company holds a majority, but less than 100 percent, ownership interest and the results of which are consolidated and included within in our consolidated financial statements.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In April 2015, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs . ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability instead of being presented as an asset. ASU 2015-03 requires retrospective application and represents a change in accounting principle. ASU 2015-03 is effective for fiscal years beginning after December 15, 2015. Early adoption is permitted for financial statements that have not been previously issued. The Company does not expect ASU 2015-03 to have a material effect on the Company’s results of operations, however, it will impact future balance sheet presentation and financial statement disclosures related to the Company’s debt issuance costs. In April 2015, the FASB issued ASU No. 2015-05, Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement . This ASU provides guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The new guidance does not change the accounting for a customer’s accounting for service contracts. ASU No. 2015-05 is effective for interim and annual reporting periods beginning after December 15, 2015. The Company is currently assessing the impact of adopting this standard on the Company’s financial position, results of operations, cash flows and financial statement disclosures. In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis . ASU 2015- 02 amends certain aspects of the consolidation guidance in U.S. GAAP. In particular, it will modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities (“VIEs”) or voting interest entities and also eliminates the presumption that a general partner should consolidate a limited partnership. The new guidance will also affect the consolidation analysis of the Company’s interests in VIEs, particularly those that have fee arrangements and related party relationships. ASU 2015-02 is effective on January 1, 2016 and retrospectively adoption is required either through a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the year of adoption or retrospectively for all comparative periods. Early adoption is permitted. The Company is currently assessing the impact of adopting this standard on the Company’s financial position, results of operations, cash flows and financial statement disclosures. In January 2015, the FASB issued ASU No. 2015-01, Income Statement—Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items . This Update eliminates from GAAP the concept of extraordinary items. The amendments in this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. A reporting entity may apply the amendments prospectively. A reporting entity also may apply the amendments retrospectively to all prior periods presented in the financial statements. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The Company does not expect the adoption of ASU 2015-01 to have material impact of adopting this standard on the Company’s financial statements. In June 2014, the FASB issued Accounting Standards Update (ASU) No. 2014-12 Compensation—Stock Compensation (Topic 718), Accounting for Share Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period . A performance target in a share-based payment that affects vesting and that could be achieved after the requisite service period should be accounted for as a performance condition under Accounting Standards Codification (ASC) 718, Compensation—Stock Compensation. As a result, the target is not reflected in the estimation of the award’s grant date fair value. Compensation cost would be recognized over the required service period, if it is probable that the performance condition will be achieved. The guidance is effective for annual periods beginning after December 15, 2015 and interim periods within those annual periods. Early adoption is permitted. The Company is currently assessing the impact of adopting this standard on the Company’s financial position, results of operations, cash flows and financial statement disclosures. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers . The amendments in ASU No. 2014-09 create Topic 606, Revenue from Contracts with Customers , and supersede the revenue recognition requirements in Topic 605, Revenue Recognition , including most industry specific revenue recognition guidance. In addition, the amendments supersede the cost guidance in Subtopic 605-35, Revenue Recognition—Construction-Type and Production-Type Contract , and create a new Subtopic 340-40, Other Assets and Deferred Costs—Contracts with Customers . The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. The amendments are effective for fiscal years and interim periods within those fiscal years beginning on or after December 15, 2017. Early adoption is not permitted. The Company is currently assessing the impact of adopting this standard on the Company’s financial position, results of operations, cash flows and financial statement disclosures.

Acquisition (Tables)

Acquisition (Tables)	6 Months Ended
	Jun. 30, 2015
Acquisition
Schedule of present value of cash consideration	Cash consideration payable in three years from the acquisition date, pursuant to the Merger Agreement and prior to Central Net Debt Working Capital and indemnification of certain defined adverse consequences, net $ Net Debt Working Capital at September 30, 2012 as defined in the Merger Agreement $ ) Threshold of Net Debt Working Capital, pursuant to the Merger Agreement $ Excess over the threshold of Net Debt Working Capital ) Indemnification of certain defined adverse consequences, net ) Indemnification claims for Net Debt Working Capital and certain adverse consequences in excess of the $27,000 cash consideration payable in three years from the acquisition date ) Indemnification claims for Net Debt Working Capital and certain adverse consequences not recognized due to the contingent nature of these claims Cash consideration payable three years from the acquisition date (October 2, 2015) $ —

Intangible Assets, net (Tables)

Intangible Assets, net (Tables)	6 Months Ended
	Jun. 30, 2015
Intangible Assets, net
Summary of intangible assets, net	June 30, 2015 (unaudited) December 31, 2014 Weighted Average Life (in Years) Acquired Intangible Assets, Gross (1) Accumulated Amortization Acquired Intangible Assets, Net Acquired Intangible Assets, Gross (1) Accumulated Amortization Acquired Intangible Assets, Net Covenant not to compete 3.5 $ $ $ $ $ $ Trade names and trademarks 4.4 Proprietary know how 9.9 Management contract rights 16.0 Acquired intangible assets, net (2) 13.8 $ $ $ $ $ $ (1) Excludes the original cost and accumulated amortization of fully amortized intangible assets. (2) Intangible assets have estimated useful lives between one and nineteen years.
Summary of amortization of intangible assets	Three Months Ended Six Months Ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Amortization expense related to intangible assets included in depreciation and amortization $ $ $ $

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
	Jun. 30, 2015
Goodwill
Schedule of amounts for goodwill and changes to carrying value by operating segment	Region One Region Two Region Three Region Four Region Five Total Balance as of December 31, 2014 (1) $ $ $ $ $ $ Foreign currency translation — — — — Balance as of June 30, 2015 $ $ $ $ $ $ (1) Due to the new segment reporting effective as of January 1, 2015, goodwill allocated to previous reporting units of Region One, Region Two, Region Three and Region Five have been reallocated to new reporting units on a retrospective basis for all periods presented.

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Measurement
Schedule of financial assets and liabilities measured at fair value on a recurring basis and basis of measurement	Fair Value Measurement June 30, 2015 (unaudited) December 31, 2014 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets Prepaid expenses and other Interest rate swap — $ — — $ — Total — $ — — $ — Liabilities Accrued expenses Contingent acquisition consideration — — $ — — $ Other long term liabilities Contingent acquisition consideration — — — — Total — — $ — — $
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, 2014 $ ) Payments Change in fair value ) Balance at June 30, 2015 $ )
Schedule of carrying amount and estimated fair values of the Company's financial instruments	June 30, 2015 (unaudited) December 31, 2014 Carrying Amount Fair Value Carrying Amount Fair Value Financial Assets Cash and cash equivalents $ $ $ $ Financial Liabilities Long-term obligations under senior credit facility and other long-term borrowings $ ) $ ) $ ) $ )

Borrowing Arrangements (Tables)

Borrowing Arrangements (Tables)	6 Months Ended
	Jun. 30, 2015
Borrowing Arrangements
Schedule of long-term borrowings	Amount Outstanding Maturity Date June 30, 2015 (unaudited) December 31, 2014 Obligations under Credit Agreement and Restated Credit Agreement, net of original discount on borrowings (1) / (2) $ $ Other debt obligations Various Total debt obligations Less: Current portion under Senior Credit Facility and other debt obligations Total long-term borrowings $ $ (1) Credit Agreement was due to mature on October 2, 2017. (2) Restated Credit Agreement matures on February 20, 2020.

Bradley Agreement (Tables)

Bradley Agreement (Tables)	6 Months Ended
	Jun. 30, 2015
Bradley Agreement
Schedule of deficiency payments made, net of reimbursements	2015 Balance at December 31, 2014 $ Deficiency payments made Deficiency repayment received ) Balance at June 30, 2015 $

Net Income Per Common Share (Ta

Net Income Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2015
Net Income Per Common Share
Schedule of reconciliation of the weighted average basic common shares outstanding to weighted average diluted common shares outstanding	Three Months Ended Six Months Ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Weighted average common basic shares outstanding Effect of dilutive stock options and restricted stock units Weighted average common diluted shares outstanding Net income (loss) per share Basic $ $ $ $ Diluted $ $ $ $

Comprehensive Income (Tables)

Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2015
Comprehensive Income
Schedule of components of comprehensive income, net of tax	Three Months Ended Six Months Ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Net income $ $ $ $ Effective portion of unrealized gain (loss) on cash flow hedge ) ) ) Foreign currency translation ) ) Comprehensive income Less: Comprehensive income attributable to noncontrolling interest Comprehensive income attributable to SP Plus Corporation $ $ $ $
Components of accumulated comprehensive income (loss), net of tax	Foreign Currency Translation Adjustments Effective Portion of Unrealized Gain (Loss) on Cash Flow Hedge Total Accumulated Other Comprehensive Income (Loss) Balance at December 31, 2014 $ ) $ $ Change in other comprehensive income (loss) ) ) Balance at June 30, 2015 $ ) $ $

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2015
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 June 30, 2015 are shown below: 2011 – 2014 United States — federal income tax 2007 – 2014 United States — state and local income tax 2011 – 2014 Canada

Business Unit Segment Informa30

Business Unit Segment Information (Tables)	6 Months Ended
	Jun. 30, 2015
Business Unit Segment Information
Summary of revenues (excluding reimbursed management contract revenue) and gross profit by regions	Three Months Ended Six Months Ended June 30, 2015 Gross Margin % June 30, 2014 Gross Margin % June 30, 2015 Gross Margin % June 30, 2014 Gross Margin % Revenues Region One Lease contracts $ $ $ $ Management contracts Total Region One Region Two Lease contracts Management contracts Total Region Two Region Three Lease contracts Management contracts Total Region Three Region Four Lease contracts Management contracts Total Region Four Region Five Lease contracts Management contracts Total Region Five Other Lease contracts Management contracts Total Other Reimbursed management contract revenue Total Revenues $ $ $ Gross Profit Region One Lease contracts $ % $ % $ % $ % Management contracts % % % % Total Region One Region Two Lease contracts % % % % Management contracts % % % % Total Region Two Region Three Lease contracts % % % % Management contracts % % % % Total Region Three Region Four Lease contracts % % % % Management contracts % % % % Total Region Four Three Months Ended Six Months Ended June 30, 2015 Gross Margin % June 30, 2014 Gross Margin % June 30, 2015 Gross Margin % June 30, 2014 Gross Margin % Region Five Lease contracts ) -2 % % % % Management contracts % % % % Total Region Five Other Lease contracts ) -18356 % % ) -6289 % % Management contracts % % % % Total Other Total gross profit $ $ $ General and administrative expenses General and administrative expense percentage of gross profit % % % Depreciation and amortization Operating income Other expenses (income) Interest expense Interest income ) ) ) ) Equity in losses from investment in unconsolidated entity — — Income (loss) before income taxes Income tax (benefit) ) ) Net income Less: Net income attributable to noncontrolling interest Net income attributable to SP Plus Corporation $ $ $ $

Significant Accounting Polici31

Significant Accounting Policies and Practices (Details) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Oct. 31, 2014	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)item	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)
Significant Accounting Policies and Practices
Ownership percentage	30.00%
Restricted Cash and Cash Equivalents | $		$ 748		$ 748		$ 465
Financial Instruments
Book overdrafts | $		26,920		$ 26,920		$ 30,782
Equity investment in unconsolidated subsidiaries.
Number of ownership interest entities				45
Equity earnings in related investments | $		$ 526	$ 531	$ 930	$ 981
Minimum
Equity investment in unconsolidated subsidiaries.
Voting interest ownership percentage		30.00%		30.00%
Maximum
Equity investment in unconsolidated subsidiaries.
Voting interest ownership percentage		50.00%		50.00%
VIEs
Equity investment in unconsolidated subsidiaries.
Number of ownership interest entities				29
Voting interest model entities
Equity investment in unconsolidated subsidiaries.
Number of ownership interest entities				17

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Commitments and contingencies
Structural or other improvement and repair costs incurred	$ 1,983	$ 841	$ 2,078	$ 942
Expected recovery through applicable indemnity of cost incurred expressed as percentage of total cost	80.00%		80.00%
Minimum
Commitments and contingencies
Estimated total structural and other improvement and repair costs related to lease contracts acquired in the Central Merger			$ 5,000
Maximum
Commitments and contingencies
Estimated total structural and other improvement and repair costs related to lease contracts acquired in the Central Merger			$ 20,000

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ / shares in Units, $ in Thousands	Oct. 02, 2012	Sep. 30, 2012	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Apr. 30, 2015
Settlement reducing cash consideration
Indemnification claims for Net Debt Working Capital and certain adverse consequences not recognized due to the contingent nature of these claims			$ 4,088		$ 4,088
Central
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
Maximum Net Debt Working Capital threshold amount	$ 275,000
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
Cash consideration payable in three years from the acquisition date, pursuant to the Merger Agreement and prior to Central Net Debt Working Capital and indemnification of certain defined adverse consequences, net	27,000		27,000		$ 27,000
Net Debt Working Capital at September 30, 2012 as defined in the Merger Agreement		$ 297,332	(297,332)		(297,332)
Threshold of Net Debt Working Capital, pursuant to the Merger Agreement	$ 285,000		285,000		285,000
Excess over the threshold of Net Debt Working Capital		$ 12,332			(12,332)
Indemnification of certain defined adverse consequences, net					(18,756)
Indemnification claims for Net Debt Working Capital and certain adverse consequences in excess of the $27,000 cash consideration payable in three years from the acquisition date			(4,088)		(4,088)
Reduction of cash consideration payable			12,332		$ 12,332
Net Debt Working Capital at September 30, 2012 asserted by representative of former stockholders							$ 270,757
Net Debt Capital difference as of September 30, 2012 below the lower threshold							$ 4,242
Indemnification of cost pursuant to merger agreement					80.00%
Acquisition and integration related costs included in general and administrative expenses			$ 374	$ 537	$ 1,872	$ 2,042

Intangible Assets, Net (Details

Intangible Assets, Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Intangible assets, net
Weighted Average Life			13 years 9 months 18 days
Acquired Intangible Assets, Gross	$ 126,353		$ 126,353		$ 126,353
Accumulated Amortization	(42,899)		(42,899)		(35,325)
Acquired Intangible Assets, Net	83,454		83,454		91,028
Amortization expense related to intangible assets included in depreciation and amortization	3,792	$ 3,796	$ 7,575	$ 7,597
Covenant not to compete
Intangible assets, net
Weighted Average Life			3 years 6 months
Acquired Intangible Assets, Gross	933		$ 933		933
Accumulated Amortization	(886)		(886)		(879)
Acquired Intangible Assets, Net	47		$ 47		54
Trade names and trademarks
Intangible assets, net
Weighted Average Life			4 years 4 months 24 days
Acquired Intangible Assets, Gross	9,770		$ 9,770		9,770
Accumulated Amortization	(6,658)		(6,658)		(5,487)
Acquired Intangible Assets, Net	3,112		$ 3,112		4,283
Proprietary know how
Intangible assets, net
Weighted Average Life			9 years 10 months 24 days
Acquired Intangible Assets, Gross	34,650		$ 34,650		34,650
Accumulated Amortization	(21,168)		(21,168)		(17,358)
Acquired Intangible Assets, Net	13,482		$ 13,482		17,292
Management contract rights
Intangible assets, net
Weighted Average Life			16 years
Acquired Intangible Assets, Gross	81,000		$ 81,000		81,000
Accumulated Amortization	(14,187)		(14,187)		(11,601)
Acquired Intangible Assets, Net	$ 66,813		$ 66,813		$ 69,399
Minimum
Intangible assets, net
Weighted Average Life			1 year
Maximum
Intangible assets, net
Weighted Average Life			19 years

Goodwill (Details)

Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2015USD ($)
Changes in carrying amounts of goodwill
Balance at the beginning of the period	$ 432,888
Foreign currency translation	(297)
Balance at the end of the period	432,591
Region One
Changes in carrying amounts of goodwill
Balance at the beginning of the period	161,222
Foreign currency translation	(297)
Balance at the end of the period	160,925
Region Two
Changes in carrying amounts of goodwill
Balance at the beginning of the period	141,512
Balance at the end of the period	141,512
Region Three
Changes in carrying amounts of goodwill
Balance at the beginning of the period	36,389
Balance at the end of the period	36,389
Region Four
Changes in carrying amounts of goodwill
Balance at the beginning of the period	62,664
Balance at the end of the period	62,664
Region Five
Changes in carrying amounts of goodwill
Balance at the beginning of the period	31,101
Balance at the end of the period	$ 31,101

Fair Value Measurement (Details

Fair Value Measurement (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Cash flow hedge | Interest rate swap
Fair Value Inputs
Ineffective portion of cash flow hedges recognized	$ 0	$ 0
Level 3 | Contingent acquisition consideration
Fair Value Inputs
Weighted average discount rate (as a percent)	12.00%
Level 3 | Contingent acquisition consideration | Minimum
Fair Value Inputs
Probability of contingent consideration (as a percent)	12.00%
Level 3 | Contingent acquisition consideration | Maximum
Fair Value Inputs
Probability of contingent consideration (as a percent)	50.00%
Recurring basis | Level 2
Assets
Assets, fair value	$ 47		$ 551
Recurring basis | Level 2 | Prepaid expenses and other | Interest rate swap
Assets
Assets, fair value	47		551
Recurring basis | Level 3
Liabilities
Liabilities, fair value	221		272
Recurring basis | Level 3 | Contingent acquisition consideration | Accrued expenses
Liabilities
Liabilities, fair value	176		64
Recurring basis | Level 3 | Contingent acquisition consideration | Other long term liabilities
Liabilities
Liabilities, fair value	$ 45		$ 208

Fair Value Measurement (Detai37

Fair Value Measurement (Details 2) - Contingent acquisition consideration - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
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			$ (272)
Payments			57
Change in fair value	$ (28)	$ (491)	(6)	$ 657
Balance at the end of the period	$ (221)		$ (221)

Fair Value Measurement (Detai38

Fair Value Measurement (Details 3) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Fair Value Measurement
Long-term debt	$ (258,684,000)		$ (253,400,000)
Nonrecurring
Fair Value Measurement
Impairment charges	0	$ 0
Carrying Amount
Fair Value Measurement
Cash and cash equivalents	23,786,000		18,196,000
Fair Value
Fair Value Measurement
Cash and cash equivalents	23,786,000		18,196,000
Senior credit facility, net of discount
Fair Value Measurement
Long-term debt	(256,517,000)		(251,010,000)
Senior credit facility, net of discount | Carrying Amount
Fair Value Measurement
Long-term debt	(258,684,000)		(253,400,000)
Senior credit facility, net of discount | Fair Value
Fair Value Measurement
Long-term debt	(258,684,000)		(253,400,000)
Other obligations
Fair Value Measurement
Long-term debt	$ (2,167,000)		$ (2,390,000)

Borrowing Arrangements (Details

Borrowing Arrangements (Details) $ in Thousands	Feb. 20, 2015USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)	Mar. 31, 2014USD ($)
Borrowing arrangements
Total debt		$ 258,684		$ 258,684		$ 253,400
Less: Current portion under Senior Credit Facility and other debt obligations		15,959		15,959		15,567
Total long-term borrowings		242,725		242,725		237,833
Senior Credit Facility
Interest Expense		3,062	$ 4,811	7,105	$ 9,620
Amortization of debt discount and issuance costs				634	$ 115
Senior credit facility, net of discount
Borrowing arrangements
Total debt		256,517		256,517		251,010
Senior Credit Facility
Maximum borrowing capacity		450,000		450,000
Current borrowing capacity		80,501		80,501
Letters of credit outstanding		53,449,000		53,449,000
Borrowings excluding debt discount		258,550		258,550
Less: Discount on debt		2,033		2,033
Available borrowing capacity		80,501		$ 80,501
Credit facility outstanding	$ 147,299
Period after end of each fiscal year mandatory repayment of principal required to be made				90 days
Repayment of mandatory principal							$ 7,940
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
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 | Base rate loans | Base Rate
Senior Credit Facility
Interest rate margin on variable rate basis (as a percent)				0.50%
Senior credit facility, net of discount | Base rate loans | LIBOR
Senior Credit Facility
Interest rate margin on variable rate basis (as a percent)				1.00%
Revolving credit facility
Senior Credit Facility
Maximum borrowing capacity	200,000	200,000		$ 200,000
Aggregate additional principal amount	100,000
Letter of credit facility
Senior Credit Facility
Maximum borrowing capacity	100,000	100,000		100,000
Credit facility outstanding	53,449
Swing-Line Loan Facility
Senior Credit Facility
Maximum borrowing capacity	20,000
Term loan facility
Senior Credit Facility
Maximum borrowing capacity	200,000	250,000		250,000
Restated Secured Credit Facility
Senior Credit Facility
Maximum borrowing capacity	400,000
Amount borrowed	10,400
Amortization of principal in the first year	15,000
Amortization of principal in the second year	15,000
Amortization of principal in the third year	20,000
Amortization of principal in the fourth year	20,000
Amortization of principal in the fifth year	20,000
Amortization of principal in the sixth year	$ 110,000
Other obligations
Borrowing arrangements
Total debt		$ 2,167		$ 2,167		$ 2,390

Borrowing Arrangements (Detai40

Borrowing Arrangements (Details 2) - Cash flow hedge - Interest rate swap - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Oct. 31, 2012
Interest rate swaps
Aggregate starting notional amount			$ 150,000
Fixed rate (as a percent)	0.7525%
Variable rate basis	LIBOR
Ineffective portion of cash flow hedges recognized	$ 0	$ 0

Bradley Agreement (Details)

Bradley Agreement (Details) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)item	Jun. 30, 2014USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Deficiency payments
Interest income on deficiency payment received from trustee			$ 256
Deficiency payments
Deficiency payments
Balance at the beginning of the year			13,327		$ 13,327
Deficiency payments made			38
Deficiency repayment received			(837)
Balance at the end of the year	$ 12,528		$ 12,528			$ 13,327
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 | item			3,500
Annual minimum guaranteed payment to the State by the trustee						10,815
Deficiency payments
Maximum premium percentage on initial deficiency payment			10.00%
Net deficiency repayment received (paid)	795	$ 957	$ 799	$ 1,050
Interest income on deficiency payment received from trustee	213
Premium income on deficiency payment received from trustee	71	$ 104	79	(117,000)
Estimated accrued deficiency payments	0		$ 0			0
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	15,233		$ 15,233			$ 14,733
Management Fees			0	$ 0
Bradley International Airport parking facilities operating agreement | Forecast
Agreement
Annual minimum guaranteed payment to the State by the trustee					$ 11,042
Bradley International Airport parking facilities operating agreement | Minimum
Agreement
Annual minimum guaranteed payment to the State by the trustee			8,300
Bradley International Airport parking facilities operating agreement | Maximum
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 | Minimum
Agreement
Annual principal and interest on revenue bonds	3,600		3,600
Bradley International Airport parking facilities operating agreement | State of Connecticut special facility revenue bonds | Maximum
Agreement
Annual principal and interest on revenue bonds	$ 4,500		$ 4,500

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($)	Apr. 21, 2015	Apr. 22, 2014	Apr. 30, 2015	Sep. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Stock Options
Stock-Based Compensation
Granted (in shares)							0	0
Recognized stock-based compensation expense					$ 0	$ 0
Unrecognized compensation costs related to unvested options					0		$ 0
Stock Options | Directors
Stock-Based Compensation
Vested stock grants to directors (in shares)	32,357	19,336
Value of vested stock grants to directors	$ 722,000	$ 491,000
Restricted Stock Units
Stock-Based Compensation
Granted (in shares)							3,963
Recognized stock-based compensation expense					403,000	$ 721,000	$ 805,000	$ 1,450,000
Term of plan							5 years
Vested (in shares)							1,416	1,416
Unrecognized stock-based compensation costs					3,720,000		$ 3,720,000
Weighted average remaining recognition period of unrecognized stock-based compensation costs							4 years 1 month 6 days
Restricted Stock Units | Long-term incentive plan
Stock-Based Compensation
Forfeited (in shares)								4,124
Performance share units
Stock-Based Compensation
Recognized stock-based compensation expense					445,000		$ 606,000
Unrecognized compensation costs related to unvested options					$ 7,806,000		$ 7,806,000
Vested (in shares)							0
Forfeited (in shares)							0
Weighted average remaining recognition period of unrecognized stock-based compensation costs							2 years 1 month 6 days
Performance share units | Executive Management
Stock-Based Compensation
Granted (in shares)			103,600	91,054

Net Income Per Common Share (De

Net Income Per Common Share (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2015$ / sharesshares	Jun. 30, 2014$ / sharesshares	Jun. 30, 2015$ / sharesshares	Jun. 30, 2014item$ / sharesshares
Net Income Per Common Share
Weighted average common basic shares outstanding	22,145,190	21,991,965	22,136,458	21,984,912
Effect of dilutive stock options and restricted stock units	376,642	406,921	368,945	390,465
Weighted average common diluted shares outstanding	22,521,832	22,398,886	22,505,403	22,375,377
Net income (loss) per share
Basic (in dollars per share) | $ / shares	$ 0.44	$ 0.24	$ 0.50	$ 0.44
Diluted (in dollars per share) | $ / shares	$ 0.43	$ 0.24	$ 0.49	$ 0.43
Performance-based incentive programs | item				0
Potential shares of common stock attributable to stock options excluded from net income per common share calculation			0

Comprehensive Income (Details)

Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Comprehensive Income
Net income	$ 10,541	$ 6,197	$ 12,335	$ 10,987
Effective portion of unrealized gain (loss) on cash flow hedge	14	(264)	(297)	(276)
Foreign currency translation	(124)	55	(295)	83
Comprehensive income	10,431	5,988	11,743	10,794
Less: Comprehensive income attributable to noncontrolling interest	784	890	1,236	1,377
Comprehensive income attributable to SP Plus Corporation	9,647	$ 5,098	10,507	$ 9,417
Accumulated Other Comprehensive Income
Balance at the beginning of the period			(205)
Change in other comprehensive income (loss)			(592)
Balance at the end of the period	(797)		(797)
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income
Balance at the beginning of the period			(530)
Change in other comprehensive income (loss)			(295)
Balance at the end of the period	(825)		(825)
Effective Portion of Unrealized Gain (Loss) on Cash Flow Hedge
Accumulated Other Comprehensive Income
Balance at the beginning of the period			325
Change in other comprehensive income (loss)			(297)
Balance at the end of the period	$ 28		$ 28

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Taxes
Income tax provision (benefit)	$ (385)	$ 4,254	$ 950	$ (3,184)
Pre-tax earnings (loss)	$ 10,156	$ 10,451	$ 13,285	$ 7,803
Effective tax rate (as a percent)			7.20%	40.80%
Discrete benefits for reversal of valuation allowance for deferred tax asset			$ 4,604	$ 6,359

Business Unit Segment Informa46

Business Unit Segment Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)item	Jun. 30, 2014USD ($)
Business Unit Segment Information
Number of operating segments | item			6
Revenues
Lease contracts	$ 146,454	$ 124,958	$ 282,269	$ 241,593
Management contracts	88,305	84,931	182,363	174,886
Reimbursed management contract revenue	170,856	164,539	345,137	333,717
Total revenue	405,615	374,428	809,769	750,196
Gross profit
Lease contracts	11,980	12,979	19,102	17,530
Management contracts	34,455	34,915	68,523	65,656
Total gross profit	46,435	47,894	87,625	83,186
Gross Margin
General and administrative expenses	$ 24,739	$ 24,996	$ 50,412	$ 51,062
General and administrative expense percentage of gross profit	53.00%	52.00%	58.00%	61.00%
Depreciation and amortization	$ 8,165	$ 7,730	$ 16,099	$ 14,893
Operating income	13,531	15,168	21,114	17,231
Other expenses (income)
Interest expense	3,062	4,811	7,105	9,620
Interest income	(40)	(94)	(100)	(192)
Equity in losses from investment in unconsolidated entity	353		824
Total other expenses (income)	3,375	4,717	7,829	9,428
Income before income taxes	10,156	10,451	13,285	7,803
Income tax (benefit)	(385)	4,254	950	(3,184)
Net income	10,541	6,197	12,335	10,987
Less: Net income attributable to noncontrolling interest	784	890	1,236	1,377
Net income attributable to SP Plus Corporation	9,757	5,307	11,099	9,610
Other
Revenues
Reimbursed management contract revenue	170,856	164,539	345,137	333,717
Total revenue	405,615	374,428	809,769	750,196
Operating segment | Region One
Revenues
Lease contracts	51,489	52,315	98,713	99,650
Management contracts	19,883	21,070	40,004	42,784
Total parking services revenue	71,372	73,385	138,717	142,434
Gross profit
Lease contracts	4,090	4,192	5,632	4,769
Management contracts	8,864	8,849	18,255	17,958
Total gross profit	$ 12,954	$ 13,041	$ 23,887	$ 22,727
Gross Margin
Lease contracts (as a percent)	8.00%	8.00%	6.00%	5.00%
Management contracts (as a percent)	45.00%	42.00%	46.00%	42.00%
Operating segment | Region Two
Revenues
Lease contracts	$ 33,775	$ 30,499	$ 65,003	$ 59,259
Management contracts	21,078	22,300	41,526	41,245
Total parking services revenue	54,853	52,799	106,529	100,504
Gross profit
Lease contracts	6,842	5,941	11,367	9,661
Management contracts	8,808	9,959	16,810	17,683
Total gross profit	$ 15,650	$ 15,900	$ 28,177	$ 27,344
Gross Margin
Lease contracts (as a percent)	20.00%	19.00%	17.00%	16.00%
Management contracts (as a percent)	42.00%	45.00%	40.00%	43.00%
Operating segment | Region Three
Revenues
Lease contracts	$ 27,652	$ 29,521	$ 54,057	$ 57,532
Management contracts	6,788	5,536	13,506	12,650
Total parking services revenue	34,440	35,057	67,563	70,182
Gross profit
Lease contracts	1,031	1,052	565	887
Management contracts	3,359	2,825	6,764	7,021
Total gross profit	$ 4,390	$ 3,877	$ 7,329	$ 7,908
Gross Margin
Lease contracts (as a percent)	4.00%	4.00%	1.00%	2.00%
Management contracts (as a percent)	49.00%	51.00%	50.00%	56.00%
Operating segment | Region Four
Revenues
Lease contracts	$ 32,370	$ 11,233	$ 62,077	$ 22,583
Management contracts	26,114	25,859	51,585	52,573
Total parking services revenue	58,484	37,092	113,662	75,156
Gross profit
Lease contracts	1,691	962	2,554	1,561
Management contracts	7,187	7,229	12,700	13,623
Total gross profit	$ 8,878	$ 8,191	$ 15,254	$ 15,184
Gross Margin
Lease contracts (as a percent)	5.00%	9.00%	4.00%	7.00%
Management contracts (as a percent)	28.00%	28.00%	25.00%	26.00%
Operating segment | Region Five
Revenues
Lease contracts	$ 1,159	$ 1,286	$ 2,400	$ 2,483
Management contracts	10,858	8,120	28,415	21,046
Total parking services revenue	12,017	9,406	30,815	23,529
Gross profit
Lease contracts	(22)	14	179	131
Management contracts	2,742	2,680	6,450	6,272
Total gross profit	$ 2,720	$ 2,694	$ 6,629	$ 6,403
Gross Margin
Lease contracts (as a percent)	(2.00%)	1.00%	7.00%	5.00%
Management contracts (as a percent)	25.00%	33.00%	23.00%	30.00%
Operating segment | Other
Revenues
Lease contracts	$ 9	$ 104	$ 19	$ 86
Management contracts	3,584	2,046	7,327	4,588
Total parking services revenue	3,593	2,150	7,346	4,674
Gross profit
Lease contracts	(1,652)	818	(1,195)	521
Management contracts	3,495	3,373	7,544	3,099
Total gross profit	$ 1,843	$ 4,191	$ 6,349	$ 3,620
Gross Margin
Lease contracts (as a percent)	(18356.00%)	787.00%	(6289.00%)	606.00%
Management contracts (as a percent)	98.00%	165.00%	103.00%	68.00%