Earnings Per Share

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Earnings Per Share

(14) Earnings Per Share

Basic net (loss) income per share is computed based on the weighted average number of shares of common stock outstanding during each 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, 2020 and 2019 (in thousands, except per share data):

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Numerator
Net income from continuing operations	$	13,749	$	4,508	$	10,876	$	22,407
Net loss from discontinued operations		(16,582)		(1,221)		(17,246)		(2,753)
Net (loss) income attributable to CAI common stockholders	$	(2,833)	$	3,287	$	(6,370)	$	19,654
Denominator
Weighted-average shares used in per share computation - basic		17,470		17,648		17,451		18,098
Effect of dilutive securities:
Stock options and restricted stock		131		278		190		303
Weighted-average shares used in per share computation - diluted		17,601		17,926		17,641		18,401
Net (loss) income per share attributable to CAI
common stockholders:
Basic
Continuing operations	$	0.79	$	0.26	$	0.62	$	1.24
Discontinued operations		(0.95)		(0.07)		(0.99)		(0.15)
Total basic	$	(0.16)	$	0.19	$	(0.37)	$	1.09
Diluted
Continuing operations	$	0.78	$	0.25	$	0.62	$	1.22
Discontinued operations		(0.94)		(0.07)		(0.98)		(0.15)
Total diluted	$	(0.16)	$	0.18	$	(0.36)	$	1.07

Certain options, restricted stock awards and time- and performance-based restricted stock units issued under employee benefit plans are excluded from the computation of diluted earnings per share because they were anti-dilutive. For the three and six months ended June 30, 2020, 654,384 shares and 379,662 shares, respectively, of stock options, restricted stock awards and time- and performance-based restricted stock units were excluded. For the three and six months ended June 30, 2019, 146,116 shares and 126,184 shares, respectively, of stock options, restricted stock awards and time- and performance-based restricted stock units were excluded.