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Earnings Per Share
 9 Months Ended
Sep. 30, 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.

The following table sets forth the reconciliation of basic and diluted net income per share for the three and nine months ended September 30, 2014 and 2013 (in thousands, except per share data):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

2014

 

2013

 

2014

 

2013

Numerator

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to CAI common stockholders used

 

 

 

 

 

 

 

 

 

 

 

in the calculation of basic and diluted earnings per share

$
16,395 

 

$
15,337 

 

$
44,112 

 

$
48,335 

Denominator

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares used in the calculation of basic earnings per share

 
20,936 

 

 
22,186 

 

 
21,193 

 

 
22,139 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

Stock options and restricted stock

 
393 

 

 
459 

 

 
429 

 

 
535 

Weighted-average shares used in the calculation of diluted earnings per share

 
21,329 

 

 
22,645 

 

 
21,622 

 

 
22,674 

 

 

 

 

 

 

 

 

 

 

 

 

Net income per share attributable to CAI common stockholders:

 

 

 

 

 

 

 

 

 

 

 

Basic

$
0.78 

 

$
0.69 

 

$
2.08 

 

$
2.18 

Diluted

$
0.77 

 

$
0.68 

 

$
2.04 

 

$
2.13 

 

 The calculation of diluted earnings per share for the three and nine months ended September 30, 2014 excluded from the denominator  573,300 and 536,300, respectively,  shares of common stock options because their effect would have been anti-dilutive. The calculation of diluted earnings per share for the three and nine months ended September 30, 2013 excluded from the denominator 399,950 and 296,950 shares, respectively, of common stock options, because their effect would have been anti-dilutive.