Willis lease finance corp (WLFC)
Income statement / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
Revenues [Abstract]
Lease rent revenue

0

-

188,384

186,278

0

-

165,034

151,524

139,780

130,369

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Revenue from Contract with Customer, Including Assessed Tax

104,176

108,998

121,152

101,349

96,919

87,009

0

0

0

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Lease rent revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

-

117,739

114,524

111,225

108,046

103,599

100,709

99,628

101,431

103,587

104,201

104,150

101,737

98,690

95,933

94,993

94,591

96,161

99,597

101,442

104,663

104,509

103,331

0

0

0

Maintenance reserve revenue

-

-

-

-

-

-

-

-

-

-

-

69,600

73,233

-

58,214

60,104

55,067

53,396

52,410

49,357

53,440

53,322

58,442

54,267

51,495

46,694

42,627

44,389

42,038

41,387

40,510

38,819

39,513

39,161

37,058

35,314

0

0

0

Spare parts and equipment sales

66,254

74,651

91,470

78,590

75,657

71,141

46,318

44,083

51,813

51,423

48,591

43,457

27,747

17,783

21,047

26,020

26,063

25,582

17,228

12,723

10,650

8,917

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale of leased equipment

12,541

20,044

24,561

21,037

15,969

6,944

1,907

1,016

4,491

4,929

4,736

4,742

1,473

3,482

4,152

7,776

10,650

8,320

9,767

7,854

6,313

5,882

5,832

5,963

5,220

5,675

4,498

3,037

3,577

5,499

4,436

7,512

8,658

11,110

16,455

12,907

0

0

0

Other Income

15,313

14,777

12,555

11,460

8,740

7,644

7,255

7,794

7,639

7,930

11,847

10,920

10,196

9,023

4,354

3,351

2,962

2,718

2,684

2,834

3,501

4,506

5,377

5,868

5,165

4,306

5,086

7,096

7,047

6,613

4,960

2,113

1,967

1,719

1,153

921

0

0

0

Total revenue

387,000

409,160

438,122

398,714

381,619

348,347

293,346

278,249

267,391

274,840

267,127

252,727

234,501

207,274

205,506

211,775

205,967

198,062

185,688

173,477

173,532

174,058

179,927

172,360

166,448

158,412

150,901

150,455

147,655

148,090

146,067

148,041

151,580

156,653

159,175

152,473

0

0

0

Operating Expenses [Abstract]
Depreciation, Depletion and Amortization, Nonproduction

89,368

86,236

84,251

81,376

79,717

76,814

72,838

69,119

66,750

66,023

65,830

66,316

66,489

66,280

66,226

66,700

68,138

69,424

69,588

69,200

67,309

65,314

63,323

62,371

60,827

58,727

0

0

0

-

-

-

-

-

-

-

-

-

-

Cost of spare parts and equipment sales

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cost of spare parts and equipment sales

-

-

77,692

66,329

-

61,025

39,251

37,567

41,918

40,848

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cost of spare parts and equipment sales

-

-

-

-

-

-

-

-

-

-

-

-

-

-

15,415

18,268

18,301

17,849

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cost of spare parts sales

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

51,737

50,595

0

0

0

Production Related Impairments or Charges

19,244

18,220

17,179

11,440

11,756

10,651

10,055

15,066

12,839

24,930

23,258

19,027

19,569

9,514

6,525

10,028

11,193

9,181

11,254

6,206

5,331

5,602

7,211

8,746

0

-

0

0

-

5,874

5,062

0

0

-

0

-

-

0

-

General and Administrative Expense

84,650

86,523

87,590

82,457

77,850

72,021

65,680

61,864

58,147

55,737

53,660

51,609

49,229

47,780

46,612

46,097

44,524

42,744

38,632

35,997

36,146

35,859

37,656

35,341

35,284

33,868

33,477

33,983

34,083

34,551

34,932

36,318

36,227

35,701

33,390

30,456

0

0

0

Equipment Expense

7,461

8,122

6,877

7,428

9,253

11,142

11,583

11,898

11,114

9,729

9,425

8,234

7,589

6,993

6,480

8,636

9,267

9,403

12,427

12,712

12,648

12,336

10,185

10,863

12,709

12,863

12,714

10,142

7,361

7,006

7,372

6,681

7,406

8,394

7,778

9,220

0

0

0

Net finance costs:
Net finance costs:
Interest expense

64,706

66,889

68,834

70,147

68,504

64,220

58,941

55,276

51,450

48,720

46,627

42,804

0

-

0

0

-

39,012

38,358

37,734

37,270

37,062

0

0

0

-

-

-

-

31,749

30,888

32,235

33,904

35,201

37,270

38,803

0

0

0

Loss on debt extinguishment

-4,908

-220

-220

-220

0

-

0

0

-

-

-

-

-

-

-

0

-

1,151

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest and Debt Expense

0

-

0

0

0

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

80

121

142

154

167

193

219

0

0

0

Loss on debt extinguishment and derivatives termination

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

Finance Costs Net

-

-

-

-

-

-

-

-

-

-

-

-

-

41,281

40,552

40,127

39,453

37,861

37,207

36,583

36,119

37,062

37,671

38,395

38,851

38,719

38,189

51,204

48,441

47,131

46,522

32,436

34,093

35,377

37,077

38,584

0

0

0

Total expenses

325,260

328,857

342,643

319,397

311,129

295,873

258,348

250,790

242,218

245,987

236,709

221,650

206,693

185,141

181,810

189,856

190,876

186,462

180,629

170,518

166,167

163,647

158,128

155,878

154,767

150,638

151,039

158,302

149,172

147,153

144,032

129,044

131,916

134,063

134,947

131,514

0

0

0

Operating Income (Loss)

61,740

80,303

95,479

79,317

70,490

52,474

34,998

27,459

25,173

28,853

30,418

31,077

27,808

22,133

23,696

21,919

15,091

11,600

5,059

2,959

7,365

10,411

21,799

16,482

11,681

7,774

-138

-7,847

-1,517

937

2,035

18,997

19,664

22,590

24,228

20,959

0

0

0

Earnings from joint ventures

7,839

8,578

7,018

5,359

3,999

3,800

2,672

5,206

6,051

7,158

6,994

4,585

3,480

1,813

922

849

1,008

1,175

1,637

1,348

1,378

1,329

1,159

601

3,738

3,526

3,997

4,638

1,455

1,759

1,385

1,265

1,386

1,295

1,141

1,182

0

0

0

Income before income taxes

69,579

88,881

102,497

84,676

74,489

56,274

37,670

32,665

31,224

36,011

37,412

35,662

31,288

23,946

24,618

22,768

16,099

12,775

6,696

4,307

8,743

11,740

22,958

17,083

15,419

11,300

3,859

-3,209

-62

2,696

3,420

20,262

21,050

23,885

25,369

22,141

0

0

0

Income tax expense

19,159

21,959

22,507

19,107

17,507

13,043

-30,177

-30,817

-29,849

-26,147

15,256

14,813

13,063

9,877

11,159

10,743

7,926

6,315

2,677

1,860

3,596

4,560

8,881

6,214

-2,928

-4,326

-7,425

-9,528

82

1,161

449

7,781

8,316

9,377

11,425

8,606

0

0

0

Net income

50,330

66,922

80,042

65,643

57,027

43,231

67,824

63,442

61,073

62,158

22,156

20,849

18,225

14,069

13,459

12,025

8,173

6,460

4,019

2,447

5,147

7,180

14,077

10,869

18,347

15,626

11,284

6,319

-144

1,535

2,971

12,481

12,734

14,508

13,944

13,535

0

0

0

Preferred stock dividends

3,259

3,250

3,251

3,250

3,250

3,250

3,254

2,779

2,293

1,813

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accretion of preferred stock issuance costs

84

84

84

84

84

83

83

71

59

46

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Preferred stock dividends

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,493

3,128

3,128

3,128

3,128

3,128

3,128

0

0

0

Net Income (Loss) Available to Common Stockholders, Basic

46,987

63,588

76,707

62,309

53,693

39,898

64,487

60,592

58,721

60,299

20,853

19,899

17,608

13,780

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-3,793

-157

9,353

9,606

11,380

10,816

10,407

0

0

0

Basic weighted average earnings per common share (in dollars per share)

0.59

0.71

3.97

2.75

3.47

2.94

1.50

1.28

1.03

6.89

0.82

0.94

1.28

0.41

0.63

0.50

0.56

0.27

0.33

-0.06

0.29

-0.04

0.12

0.28

0.55

0.82

-0.27

1.20

0.20

-0.12

-0.92

0.29

0.30

0.35

0.18

0.32

0.50

0.27

0.13

Diluted weighted average earnings per common share (in dollars per share)

0.56

0.68

3.81

2.66

3.35

2.87

1.47

1.26

1.00

6.72

0.80

0.92

1.25

0.39

0.62

0.49

0.55

0.26

0.32

-0.06

0.29

-0.04

0.12

0.27

0.53

0.80

-0.27

1.17

0.19

-0.10

-0.90

0.28

0.29

0.33

0.17

0.31

0.47

0.25

0.12

Basic weighted average common shares outstanding (in shares)

5,860

5,852

5,847

5,866

5,779

5,778

5,900

5,878

6,104

6,091

6,055

6,036

6,114

6,139

6,307

6,685

7,149

7,740

7,839

7,841

7,848

7,840

7,938

7,976

7,914

7,851

8,126

8,106

8,033

25,276

8,667

8

8

8,421

8,397

8,322

8,552

8

8

Weighted Average Number of Shares Outstanding, Diluted

6,124

6,099

6,094

6,061

5,978

5,933

6,004

5,991

6,256

6,275

6,184

6,158

6,263

6,317

6,448

6,819

7,272

8,100

7,963

7,841

8,044

8,133

8,123

8,179

8,129

8,251

8,329

8,303

8,273

26,257

8,889

8

8

8,849

8,811

8,796

9,048

9

9