Earnings Per Share

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share

(13)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, 2013 and 2012 (in thousands, except per share data):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2013		2012		2013		2012
Numerator
Net income attributable to CAI common stockholders used
in the calculation of basic and diluted earnings per share	$	15,337	$	16,528	$	48,335	$	46,054
Denominator
Weighted-average shares used in the calculation of
basic earnings per share		22,186		19,295		22,139		19,295
Effect of dilutive securities:
Stock options and restricted stock		459		469		535		435
Weighted-average shares used in the calculation of
diluted earnings per share		22,645		19,764		22,674		19,730
Net income per share attributable to CAI common
stockholders:
Basic	$	0.69	$	0.86	$	2.18	$	2.39
Diluted	$	0.68	$	0.84	$	2.13	$	2.33

 The calculation of diluted earnings per share for the three and nine months ended September 30, 2013 excluded from the denominator 399,950 and 296,950 shares, respectively, of common stock options, because their effect would have been anti-dilutive. The calculation of diluted earnings per share for the three and nine months ended September 30, 2012 excluded from the denominator 220,000 shares of common stock options, because their effect would have been anti-dilutive.