(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 nine months ended September 30, 2019 and 2018 (in thousands, except per share data):



	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
Numerator
Net income from continuing operations	$	12,958	$	20,571	$	37,524	$	57,897
Net loss from discontinued operations		(19,912)		(565)		(20,983)		(1,625)
Net (loss) income attributable to CAI common stockholders	$	(6,954)	$	20,006	$	16,541	$	56,272
Denominator
Weighted-average shares used in per share computation - basic		17,330		19,214		17,850		19,741
Effect of dilutive securities:
Stock options and restricted stock		195		278		272		256
Weighted-average shares used in per share computation - diluted		17,525		19,492		18,122		19,997

Net income (loss) per share attributable to CAI common
stockholders:
Basic
Continuing operations	$	0.75	$	1.07	$	2.10	$	2.93
Discontinued operations	$	(1.15)	$	(0.03)	$	(1.17)	$	(0.08)
Total basic	$	(0.40)	$	1.04	$	0.93	$	2.85
Diluted
Continuing operations	$	0.74	$	1.06	$	2.07	$	2.90
Discontinued operations	$	(1.14)	$	(0.03)	$	(1.16)	$	(0.09)
Total diluted	$	(0.40)	$	1.03	$	0.91	$	2.81

The calculation of diluted earnings per share for the three months ended September 30, 2019 and 2018, excluded from the denominator 246,750 and 86,055 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, 2019 and 2018, excluded from the denominator 127,135 and 158,495 shares, respectively, of common stock options because their effect would have been anti-dilutive.