Earnings Per Share

9 Months Ended

Sep. 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 nine months ended September 30, 2017 and 2016 (in thousands, except per share data):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2017		2016		2017		2016
Numerator
Net income (loss) attributable to CAI common stockholders used
in the calculation of basic and diluted earnings per share	$	17,587	$	(5,451)	$	35,497	$	5,377
Denominator
Weighted-average shares used in the calculation of basic
earnings per share		19,180		19,130		19,108		19,427
Effect of dilutive securities:
Stock options and restricted stock		453		-		314		71
Weighted-average shares used in the calculation of diluted
earnings per share		19,633		19,130		19,422		19,498
Net income (loss) per share attributable to CAI common
stockholders:
Basic	$	0.92	$	(0.28)	$	1.86	$	0.28
Diluted	$	0.90	$	(0.28)	$	1.83	$	0.28

The calculation of diluted earnings per share for the three months ended September 30, 2017 and 2016, excluded from the denominator 41,989and 1,231,455 shares, respectively, of common stock options because their effect would have been anti-dilutive.  The calculation of diluted earnings per share for the nine months ended September 30, 2017 and 2016, excluded from the denominator 822,226and1,103,495 shares, respectively, of common stock options because their effect would have been anti-dilutive.