Earnings Per Share

6 Months Ended

Jun. 30, 2015

(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 six months ended June 30, 2015 and 2014 (in thousands, except per share data):



	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
Numerator
Net income attributable to CAI common stockholders used
in the calculation of basic and diluted earnings per share	$	12,889	$	13,446	$	26,431	$	27,717
Denominator
Weighted-average shares used in the calculation of basic earnings per share		21,095		21,910		21,000		22,061
Effect of dilutive securities:
Stock options and restricted stock		303		445		346		445
Weighted-average shares used in the calculation of diluted earnings per share		21,398		22,355		21,346		22,506

Net income per share attributable to CAI common stockholders:
Basic	$	0.61	$	0.61	$	1.26	$	1.26
Diluted	$	0.60	$	0.60	$	1.24	$	1.23

The calculation of diluted earnings per share for the three months ended June 30, 2015 and 2014 excluded from the denominator 572,050 and 438,300 shares, respectively, of common stock options because their effect would have been anti-dilutive. The calculation of diluted earnings per share for the six months ended June 30, 2015 and 2014 excluded from the denominator 572,050 and 441,300 shares, respectively, of common stock options because their effect would have been anti-dilutive.