XML 76 R40.htm IDEA: XBRL DOCUMENT v3.24.3
Debt Obligations - Schedule of Notes Payable (Details) - USD ($)
9 Months Ended
Sep. 30, 2024
May 31, 2024
Dec. 31, 2023
Long Term Debt      
Gross amount of debt $ 2,014,734,000   $ 1,827,059,000
Less: unamortized debt issuance costs and note discounts (24,279,000)   (24,178,000)
Total debt obligations $ 1,990,455,000   1,802,881,000
Credit facility at a floating rate of interest of one-month term Secured Overnight Financing Rate (“SOFR”) plus 2.85%, secured by engines, airframes, and loan assets. The facility has a committed amount of $500.0 million at September 30, 2024, which revolves until the maturity date of June 2025.      
Long Term Debt      
Variable rate (as a percent) 2.85%    
Line of credit facility outstanding amount $ 403,018,000   353,000,000
WEST VII Series A 2023 term notes payable at a fixed rate of interest of 8.00%, maturing in October 2048, secured by engines, airframes, and loan assets      
Long Term Debt      
Fixed rate (as a percent) 8.00%    
Gross amount of debt $ 361,251,000   406,894,000
WEST VI Series A 2021 term notes payable at a fixed rate of interest of 3.10%, maturing in May 2046, secured by engines, airframes, and loan assets      
Long Term Debt      
Fixed rate (as a percent) 3.10%    
Gross amount of debt $ 243,325,000   252,986,000
WEST VI Series B 2021 term notes payable at a fixed rate of interest of 5.44%, maturing in May 2046, secured by engines, airframes, and loan assets      
Long Term Debt      
Fixed rate (as a percent) 5.44%    
Gross amount of debt $ 33,800,000   35,142,000
WEST VI Series C 2021 term notes payable at a fixed rate of interest of 7.39%, maturing in May 2046, secured by engines, airframes, and loan assets      
Long Term Debt      
Fixed rate (as a percent) 7.39%    
Gross amount of debt $ 10,497,000   12,361,000
WEST V Series A 2020 term notes payable at a fixed rate of interest of 3.23%, maturing in March 2045, secured by engines      
Long Term Debt      
Fixed rate (as a percent) 3.23%    
Gross amount of debt $ 229,807,000   240,371,000
WEST V Series B 2020 term notes payable at a fixed rate of interest of 4.21%, maturing in March 2045, secured by engines      
Long Term Debt      
Fixed rate (as a percent) 4.21%    
Gross amount of debt $ 32,013,000   33,485,000
WEST V Series C 2020 term notes payable at a fixed rate of interest of 6.66%, maturing in March 2045, secured by engines      
Long Term Debt      
Fixed rate (as a percent) 6.66%    
Gross amount of debt $ 8,770,000   10,695,000
WEST IV Series A 2018 term notes payable at a fixed rate of interest of 4.75%, maturing in September 2043, secured by engines      
Long Term Debt      
Fixed rate (as a percent) 4.75%    
Gross amount of debt $ 202,924,000   212,157,000
WEST IV Series B 2018 term notes payable at a fixed rate of interest of 5.44%, maturing in September 2043, secured by engines      
Long Term Debt      
Fixed rate (as a percent) 5.44%    
Gross amount of debt $ 27,759,000   29,024,000
WEST III Series A 2017 term notes payable at a fixed rate of interest of 4.69%, maturing in August 2042, secured by engines      
Long Term Debt      
Fixed rate (as a percent) 4.69%    
Gross amount of debt $ 164,792,000   175,705,000
WEST III Series B 2017 term notes payable at a fixed rate of interest of 6.36%, maturing in August 2042, secured by engines      
Long Term Debt      
Fixed rate (as a percent) 6.36%    
Gross amount of debt $ 22,126,000   23,592,000
Willis Warehouse Facility LLC (“WWFL”) credit facility at a floating rate of interest of one-month term SOFR, plus 2.25%, maturing in May 2029, secured by engines, airframes, and loan assets      
Long Term Debt      
Line of credit facility, maximum borrowing capacity   $ 500,000,000  
Fixed rate (as a percent) 2.25%    
Gross amount of debt $ 213,845,000   0
Note payable at a fixed rate of interest of 5.00%, maturing in February 2033, secured by an engine      
Long Term Debt      
Fixed rate (as a percent) 5.00%    
Gross amount of debt $ 20,848,000   0
Note payable at a fixed rate of interest of 4.59%, maturing in November 2032, secured by an engine      
Long Term Debt      
Fixed rate (as a percent) 4.59%    
Gross amount of debt $ 22,225,000   22,610,000
Note payable at a fixed rate of interest of 4.23%, maturing in June 2032, secured by an engine      
Long Term Debt      
Fixed rate (as a percent) 4.23%    
Gross amount of debt $ 17,734,000   17,802,000
Note payable at a fixed rate of interest of 3.18%, matured in July 2024, secured by an aircraft      
Long Term Debt      
Fixed rate (as a percent) 3.18%    
Gross amount of debt $ 0   $ 1,235,000
Revolving credit facility | Credit facility at a floating rate of interest of one-month term Secured Overnight Financing Rate (“SOFR”) plus 2.85%, secured by engines, airframes, and loan assets. The facility has a committed amount of $500.0 million at September 30, 2024, which revolves until the maturity date of June 2025.      
Long Term Debt      
Line of credit facility, maximum borrowing capacity $ 500,000,000