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EXCEL - IDEA: XBRL DOCUMENT - WILLIS LEASE FINANCE CORPFinancial_Report.xls
EX-21.1 - EX-21.1 - WILLIS LEASE FINANCE CORPwlfc-20140930ex211af2b33.htm
EX-31.1 - EX-31.1 - WILLIS LEASE FINANCE CORPwlfc-20140930ex311ca57e5.htm
EX-31.2 - EX-31.2 - WILLIS LEASE FINANCE CORPwlfc-20140930ex312ad58ab.htm
EX-32 - EX-32 - WILLIS LEASE FINANCE CORPwlfc-20140930xex32.htm
10-Q - 10-Q - WILLIS LEASE FINANCE CORPwlfc-20140930x10q.htm

Exhibit 11.1

 

WILLIS LEASE FINANCE CORPORATION

AND SUBSIDIARIES

Computation of Earnings Per Share

(In thousands, except per share data, unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

 

    

2014

    

2013

    

2014

    

2013

 

Basic

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to common shareholders

 

$

979 

 

$

(2,229)

 

$

7,525 

 

$

9,073 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares:

 

 

 

 

 

 

 

 

 

 

 

 

 

Average common shares outstanding

 

 

7,938 

 

 

8,126 

 

 

7,943 

 

 

8,091 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings (loss) per common share

 

$

0.12 

 

$

(0.27)

 

$

0.95 

 

$

1.12 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assuming full dilution

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to common shareholders

 

$

979 

 

$

(2,229)

 

$

7,525 

 

$

9,073 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares:

 

 

 

 

 

 

 

 

 

 

 

 

 

Average common shares outstanding

 

 

7,938 

 

 

8,126 

 

 

7,943 

 

 

8,091 

 

Potentially dilutive common shares outstanding

 

 

185 

 

 

203 

 

 

220 

 

 

241 

 

Diluted average common shares outstanding

 

 

8,123 

 

 

8,329 

 

 

8,163 

 

 

8,332 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings (loss) per common share

 

$

0.12 

 

$

(0.27)

 

$

0.92 

 

$

1.09 

 

 

Supplemental information:

 

The difference between average common shares outstanding to calculate basic and assuming full dilution is due to options outstanding under the 1996 Stock Options/Stock Issuance Plan and restricted stock issued under the 2007 Stock Incentive Plan.