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Investments - Schedule of Financial Information (Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Dec. 31, 2022
Consolidated Statements of Income        
Revenue $ 119,083 $ 89,535    
Expenses 91,865 81,537    
Net income 20,869 4,394    
Consolidated Balance Sheets        
Total assets [1] 2,674,462   $ 2,652,344  
Total liabilities [2] 2,162,689   2,163,417  
Total WMES net equity 461,797 405,989 438,963 $ 404,688
WMES        
Consolidated Statements of Income        
Revenue 18,926 10,878    
Expenses 13,762 11,165    
Net income 5,164 $ (287)    
Consolidated Balance Sheets        
Total assets 241,784   236,732  
Total liabilities 150,491   150,604  
Total WMES net equity $ 91,293   $ 86,128  
[1] Total assets at March 31, 2024 and December 31, 2023, include the following assets of variable interest entities (“VIEs”) that can only be used to settle the liabilities of the VIEs: Restricted cash $86,620 and $160,958; Equipment $1,500,893 and $1,518,050; Maintenance Rights $7,806 and $7,806; Notes receivable $90,756 and $91,960; Investments in sales-type leases $28,143 and $3,564; and Other assets $14,444 and $13,339 (each respectively).
[2] Total liabilities at March 31, 2024 and December 31, 2023, include the following liabilities of VIEs for which the VIEs’ creditors do not have recourse to Willis Lease Finance Corporation: Debt obligations $1,386,738 and $1,411,680, respectively.