EX-11.1 8 wlfc-20170930ex111ba8e2d.htm EX-11.1 EX11_1

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,

 

 

 

 

2017

 

2016

 

2017

 

2016

Basic

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

 

 

$

4,558

 

$

3,985

 

$

18,053

 

$

11,362

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average common shares outstanding

 

 

 

 

6,055

 

 

6,307

 

 

6,068

 

 

6,711

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings (loss) per common sharae

 

 

 

$

0.75

 

$

0.63

 

$

2.98

 

$

1.69

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assuming full dilution

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

 

 

$

4,558

 

$

3,985

 

$

18,053

 

$

11,362

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average common shares outstanding

 

 

 

 

6,055

 

 

6,307

 

 

6,068

 

 

6,711

Potentially dilutive common shares outstanding

 

 

 

 

118

 

 

141

 

 

130

 

 

138

Diluted average common shares outstanding

 

 

 

 

6,173

 

 

6,448

 

 

6,198

 

 

6,849

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings (loss) per common share

 

 

 

$

0.74

 

$

0.62

 

$

2.91

 

$

1.66

 

 

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.