Earnings Per Share

3 Months Ended

Mar. 31, 2017

(16) 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 months ended March 31, 2017 and 2016 (in thousands, except per share data):



	Three Months Ended
	March 31,
	2017		2016
Numerator
Net income attributable to CAI common stockholders used in the calculation
of basic and diluted earnings per share	$	5,272	$	7,117
Denominator
Weighted-average shares used in the calculation of basic earnings per share		19,010		19,774
Effect of dilutive securities:
Stock options and restricted stock		221		59
Weighted-average shares used in the calculation of diluted earnings per share		19,231		19,833

Net income per share attributable to CAI common stockholders:
Basic	$	0.28	$	0.36
Diluted	$	0.27	$	0.36

The calculation of diluted earnings per share for the three months ended March 31, 2017 and 2016, excluded from the denominator 1,066,787 and 1,007,682 shares, respectively, of common stock options because their effect would have been anti-dilutive.