Earnings Per Share

12 Months Ended

Dec. 31, 2014

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, 2014, 2013 and 2012 (in thousands, except per share data):

	Year Ended December 31,
	2014		2013		2012
Numerator
Net income attributable to CAI common stockholders used in the calculation
of basic and diluted earnings per share	$	60,274	$	63,926	$	63,465
Denominator
Weighted-average shares used in the calculation of basic earnings per share		20,732		22,157		19,495
Effect of dilutive securities:
Stock options and restricted stock		423		515		450
Weighted-average shares used in the calculation of diluted earnings per share		21,155		22,672		19,945
Net income per share attributable to CAI common stockholders:
Basic	$	2.91	$	2.89	$	3.26
Diluted	$	2.85	$	2.82	$	3.18

The denominator used in the calculation of diluted income per share for the years ended December 31, 2014, 2013 and 2012 excluded options for  600,450 shares, 271,300 shares and 363,000 shares, respectively, of common stock granted to employees and directors because their effect would have been antidilutive.