EX-11.1 2 wlfc-20161231ex1119cebfb.htm EX-11.1 wlfc_Ex_11_1

Exhibit 11.1

 

WILLIS LEASE FINANCE CORPORATION
AND SUBSIDIARIES

Computation of Earnings Per Share
(In thousands, except per share amounts)

 

 

 

 

 

 

 

 

 

 

 

Years Ended December 31,

 

 

    

2016

    

2015

    

2014

 

Basic

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

Net income attributable to common shareholders

 
$
13,780 

 
$
6,460 

 
$
7,180 

 

 

 

 

 

 

 

 

 

Shares:

 

 

 

 

 

 

 

Average common shares outstanding

 
6,570 

 
7,817 

 
7,917 

 

 

 

 

 

 

 

 

 

Basic earnings per common share

 
$
2.10 

 
$
0.83 

 
$
0.91 

 

 

 

 

 

 

 

 

 

Assuming full dilution

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

Net income attributable to common shareholders

 
$
13,780 

 
$
6,460 

 
$
7,180 

 

 

 

 

 

 

 

 

 

Shares:

 

 

 

 

 

 

 

Average common shares outstanding

 
6,570 

 
7,817 

 
7,917 

 

Potentially dilutive common shares outstanding

 
144 

 
170 

 
224 

 

Diluted average common shares outstanding

 
6,714 

 
7,987 

 
8,141 

 

 

 

 

 

 

 

 

 

Diluted earnings per common share

 
$
2.05 

 
$
0.81 

 
$
0.88 

 

 

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 Option/Stock Issuance Plan and restricted stock issued under the 2007 Stock Incentive Plan.