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EXCEL - IDEA: XBRL DOCUMENT - WILLIS LEASE FINANCE CORPFinancial_Report.xls
EX-32 - EX-32 - WILLIS LEASE FINANCE CORPwlfc-20150331xex32.htm
EX-31.1 - EX-31.1 - WILLIS LEASE FINANCE CORPwlfc-20150331ex311abe617.htm
EX-31.2 - EX-31.2 - WILLIS LEASE FINANCE CORPwlfc-20150331ex312565dd0.htm
EX-21.1 - EX-21.1 - WILLIS LEASE FINANCE CORPwlfc-20150331ex211981efb.htm
10-Q - 10-Q - WILLIS LEASE FINANCE CORPwlfc-20150331x10q.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 March 31,

 

 

    

2015

    

2014

 

Basic

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

Net income attributable to common shareholders

 

$

2,298 

 

$

4,331 

 

 

 

 

 

 

 

 

 

Shares:

 

 

 

 

 

 

 

Average common shares outstanding

 

 

7,848 

 

 

7,914 

 

 

 

 

 

 

 

 

 

Basic earnings per common share

 

$

0.29 

 

$

0.55 

 

 

 

 

 

 

 

 

 

Assuming full dilution

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

Net income attributable to common shareholders

 

$

2,298 

 

$

4,331 

 

 

 

 

 

 

 

 

 

Shares:

 

 

 

 

 

 

 

Average common shares outstanding

 

 

7,848 

 

 

7,914 

 

Potentially dilutive common shares outstanding

 

 

196 

 

 

215 

 

Diluted average common shares outstanding

 

 

8,044 

 

 

8,129 

 

 

 

 

 

 

 

 

 

Diluted earnings per common share

 

$

0.29 

 

$

0.53 

 

 

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.