Earnings Per Share

6 Months Ended

Jun. 30, 2017

Earnings Per Share [Abstract]

Earnings Per Share

(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 and six months ended June 30, 2017 and 2016 (in thousands, except per share data):

	Three Months Ended June 30,				Six Months Ended June 30,
	2017		2016		2017		2016
Numerator
Net income attributable to CAI common stockholders used in
the calculation of basic and diluted earnings per share	$	12,638	$	3,711	$	17,910	$	10,828
Denominator
Weighted-average shares used in the calculation of basic
earnings per share		19,131		19,372		19,071		19,577
Effect of dilutive securities:
Stock options and restricted stock		288		77		261		69
Weighted-average shares used in the calculation of diluted
earnings per share		19,419		19,449		19,332		19,646
Net income per share attributable to CAI common stockholders:
Basic	$	0.66	$	0.19	$	0.94	$	0.55
Diluted	$	0.65	$	0.19	$	0.93	$	0.55

The calculation of diluted earnings per share for the three months ended June 30, 2017 and 2016, excluded from the denominator 858,739and 1,069,311 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, 2017 and 2016, excluded from the denominator 936,486and 1,038,497 shares, respectively, of common stock options because their effect would have been anti-dilutive.