Earnings per Share

12 Months Ended

Dec. 31, 2012

Earnings per Share [Abstract]

Earnings per Share

(17) Earnings per Share

Basic earnings per share is computed by dividing income attributable to CAI 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 years ended December 31, 2012, 2011 and 2010 (in thousands, except per share data):

	Year Ended December 31,
	2012		2011		2010
Numerator
Net income attributable to CAI common stockholders used in the calculation of basic and diluted earnings per share	$	63,465	$	50,189	$	28,383
Denominator
Weighted average shares used in the calculation of basic earnings per share		19,495		19,295		17,974
Effect of dilutive securities:
Restricted common stock		-		-		3
Stock options		450		398		226
Weighted average shares used in the calculation of diluted earnings per share		19,945		19,693		18,203
Net income per share attributable to CAI common stockholders:
Basic	$	3.26	$	2.60	$	1.58
Diluted	$	3.18	$	2.55	$	1.56

The denominator used in the calculation of diluted income per share for the years ended December 31, 2012, 2011 and 2010 excluded options for 363,000 shares, 232,500 shares and 493,000 shares, respectively, of common stock granted to employees and directors because their effect would have been antidilutive.