Earnings Per Share

3 Months Ended

Mar. 31, 2014

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.

CAI INTERNATIONAL, INC.

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

The following table sets forth the reconciliation of basic and diluted net income per share for the three months ended March 31, 2014 and 2013 (in thousands, except per share data):

	Three Months Ended March 31,
	2014		2013
Numerator
Net income attributable to CAI common stockholders used
in the calculation of basic and diluted earnings per share	$	14,271	$	16,067
Denominator
Weighted-average shares used in the calculation of basic earnings per share		22,213		22,085
Effect of dilutive securities:
Stock options and restricted stock		445		583
Weighted-average shares used in the calculation of diluted earnings per share		22,658		22,668
Net income per share attributable to CAI common stockholders:
Basic	$	0.64	$	0.73
Diluted	$	0.63	$	0.71

 The calculation of diluted earnings per share for the three months ended March 31, 2014 excluded from the denominator 364,333shares of common stock options because their effect would have been anti-dilutive. The calculation of diluted earnings per share for the three months ended March 31, 2013 excluded from the denominator 180,000 shares of common stock options, because their effect would have been anti-dilutive.