Earnings per Share

9 Months Ended

Sep. 30, 2012

Earnings per Share [Abstract]

Earnings per Share

(13)   Earnings Per Share

Basic earnings per share is computed by dividing income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted into common stock; however, potential common equivalent shares are excluded if their effect is anti-dilutive.

The following table sets forth the reconciliation of basic and diluted net income per share for the three and nine months ended September 30, 2012 and 2011 (in thousands, except per share data):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2012		2011		2012		2011
Numerator
Net income attributable to CAI common stockholders used in calculation of basic and diluted earnings per share	$	16,528	$	13,622	$	46,054	$	37,298
Denominator
Weighted average shares used in the calculation of basic earnings per share		19,295		19,295		19,295		19,295
Effect of dilutive securities		469		286		435		432
Weighted average shares used in the calculation of diluted earnings per share		19,764		19,581		19,730		19,727
Net income per share attributable to CAI common stockholders:
Basic	$	0.86	$	0.71	$	2.39	$	1.93
Diluted	$	0.84	$	0.70	$	2.33	$	1.89

The calculation of diluted earnings per share for the three and nine months ended September 30, 2012 excluded from the denominator 220,000 shares of stock options granted to employees and directors because their effect would have been anti-dilutive. The calculation of diluted earnings per share for the three and nine months ended September 30, 2011 excluded from the denominator 255,000 and 220,000, respectively, shares of stock options granted to employees and directors because their effect would have been anti-dilutive.