Earnings Per Share

12 Months Ended

Mar. 29, 2014

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 2014, 2013 and 2012 (dollars in thousands, except per share amounts):

	Fiscal Year
	2014		2013		2012
Net income attributable to Cavco common stockholders	$	16,238	$	4,963	$	15,237
Weighted average shares outstanding:
Basic	8,262,688		6,956,706		6,877,437
Common stock equivalents—treasury stock method	116,336		70,498		71,640
Diluted	8,379,024		7,027,204		6,949,077
Net income per share attributable to Cavco common stockholders:
Basic	$	1.97	$	0.71	$	2.22
Diluted	$	1.94	$	0.71	$	2.19

There were no anti-dilutive common stock equivalents excluded from the computation of diluted earnings per share for the year ended March 29, 2014 and 5,951 and 2,568 for the years ended March 30, 2013 and March 31, 2012, respectively.