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Earnings Per Share
 6 Months Ended
Jun. 30, 2019
Earnings Per Share [Abstract]  
Earnings Per Share

(18)  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, 2019 and 2018 (in thousands, except per share data):





 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 



 

Three Months Ended June 30,

 

Six Months Ended June 30,



 

2019

 

2018

 

2019

 

2018

Numerator

 

 

 

 

 

 

 

 

 

 

 

 

Net income from continuing operations

 

$

 12,328 

 

$

 19,503 

 

$

 24,566 

 

$

 37,361 

Net income (loss) from discontinued operations

 

 

 (5,200)

 

 

 (354)

 

 

 (1,071)

 

 

 (1,095)

Net income attributable to CAI common stockholders

 

$

 7,128 

 

$

 19,149 

 

$

 23,495 

 

$

 36,266 

Denominator

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares used in per share computation - basic

 

 

 17,648 

 

 

 19,613 

 

 

 18,098 

 

 

 20,013 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Stock options and restricted stock

 

 

 278 

 

 

 230 

 

 

 303 

 

 

 245 

Weighted-average shares used in per share computation - diluted

 

 

 17,926 

 

 

 19,843 

 

 

 18,401 

 

 

 20,258 



 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) per share attributable to CAI common

 

 

 

 

 

 

 

 

 

 

 

 

stockholders:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

 0.70 

 

$

 1.00 

 

$

 1.36 

 

$

 1.86 

Discontinued operations

 

$

 (0.30)

 

$

 (0.02)

 

$

 (0.06)

 

$

 (0.05)

Total basic

 

$

 0.40 

 

$

 0.98 

 

$

 1.30 

 

$

 1.81 

Diluted

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

 0.69 

 

$

 0.99 

 

$

 1.34 

 

$

 1.84 

Discontinued operations

 

$

 (0.29)

 

$

 (0.02)

 

$

 (0.06)

 

$

 (0.05)

Total diluted

 

$

 0.40 

 

$

 0.97 

 

$

 1.28 

 

$

 1.79 



The calculation of diluted earnings per share for the three months ended June 30, 2019 and 2018, excluded from the denominator 146,116 and 161,870 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, 2019 and 2018, excluded from the denominator 126,184 and 161,163 shares, respectively, of common stock options because their effect would have been anti-dilutive