Earnings Per Share

12 Months Ended

Mar. 28, 2015

Earnings Per Share [Abstract]

Earnings Per Share

16. Earnings Per Share

Basic earnings per common share is computed based on the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per common share is computed based on the combination of dilutive common share equivalents, comprised of shares issuable under the Company’s stock-based compensation plans and the weighted-average number of common shares outstanding during the reporting period. Dilutive common share equivalents include the dilutive effect of in-the-money options to purchase shares, which is calculated based on the average share price for each period using the treasury stock method. The following table sets forth the computation of basic and diluted earnings per share for fiscal years 2015, 2014 and 2013 (dollars in thousands, except per share amounts):

	Fiscal Year
	2015		2014		2013
Net income attributable to Cavco common stockholders	$	23,817	$	16,238	$	4,963
Weighted average shares outstanding:
Basic	8,854,359		8,262,688		6,956,706
Common stock equivalents—treasury stock method	161,420		116,336		70,498
Diluted	9,015,779		8,379,024		7,027,204
Net income per share attributable to Cavco common stockholders:
Basic	$	2.69	$	1.97	$	0.71
Diluted	$	2.64	$	1.94	$	0.71

There were 2,669 anti-dilutive common stock equivalents excluded from the computation of diluted earnings per share for the year ended March 28, 2015, none for the year ended March 29, 2014 and 5,951 for the year ended March 30, 2013.