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Net Income (Loss) Per Share | 12 Months Ended
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Dec. 31, 2016
Net Income (Loss) Per Share |
Net Income (Loss) Per Share | 8. Net Income (Loss) Per Share CRA calculates basic and diluted earnings per common share using the two-class method. Under the two-class method, net earnings are allocated to each class of common stock and participating security as if all of the net earnings for the period had been distributed. CRA's participating securities consist of unvested share-based payment awards that contain a nonforfeitable right to receive dividends and therefore are considered to participate in undistributed earnings with common shareholders. Basic earnings per common share excludes dilution and is calculated by dividing net earnings allocable to common shares by the weighted-average number of common shares outstanding for the period. Diluted earnings per common share is calculated by dividing net earnings allocable to common shares by the weighted-average number of common shares as of the balance sheet date, as adjusted for the potential dilutive effect of non-participating share-based awards. Net earnings allocable to these participating securities were not significant for fiscal 2016, fiscal 2015 or fiscal 2014. The following table presents a reconciliation from net income to the net income available to common shareholders (in thousands):
|  | Fiscal Year 2016 |  | Fiscal Year 2015 |  | Fiscal Year 2014 |
Net income, as reported |  | $ | 12,888 |  | $ | 7,657 |  | $ | 13,638 |
Less: net income attributable to participating shares |  |  | 95 |  |  | 59 |  |  | 20 |
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Net income available to common shareholders |  | $ | 12,793 |  | $ | 7,598 |  | $ | 13,618 |
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For fiscal 2016, fiscal 2015 and fiscal 2014, the following is a reconciliation of basic to diluted weighted average shares of common stock outstanding (in thousands):
|  | Fiscal Year 2016 |  | Fiscal Year 2015 |  | Fiscal Year 2014 |
Basic weighted average shares outstanding |  |  | 8,503 |  |  | 9,010 |  |  | 9,747 |
Common stock equivalents: |  |  |  |  |  |  |  |  |  |
Stock options, restricted stock shares and restricted stock units |  |  | 98 |  |  | 185 |  |  | 150 |
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Diluted weighted average shares outstanding |  |  | 8,601 |  |  | 9,195 |  |  | 9,897 |
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For fiscal 2016, fiscal 2015 and fiscal 2014, the following table presents net income per share attributable to CRA:
|  | Fiscal Year 2016 |  | Fiscal Year 2015 |  | Fiscal Year 2014 |
Basic |  | $ | 1.50 |  | $ | 0.84 |  | $ | 1.40 |
Diluted |  | $ | 1.49 |  | $ | 0.83 |  | $ | 1.38 |
For fiscal 2016, fiscal 2015 and fiscal 2014, the anti-dilutive share based awards that were excluded from the calculation of common stock equivalents for purposes of computing diluted weighted average shares outstanding amounted to 581,546, 522,593, and 764,748 shares, respectively. These share-based awards were anti-dilutive because their exercise price exceeded the average market price over the respective period.

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