EX-11.1 2 wlfc-20151231ex111b4a483.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,

 

 

    

2015

    

2014

    

2013

 

Basic

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

Net income

 
$
7,356 

 
$
7,247 

 
$
15,626 

 

 

 

 

 

 

 

 

 

Shares:

 

 

 

 

 

 

 

Average common shares outstanding

 
7,811 

 
7,917 

 
8,029 

 

 

 

 

 

 

 

 

 

Basic earnings per common share

 
$
0.94 

 
$
0.92 

 
$
1.95 

 

 

 

 

 

 

 

 

 

Assuming full dilution

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

Net income

 
$
7,356 

 
$
7,247 

 
$
15,626 

 

 

 

 

 

 

 

 

 

Shares:

 

 

 

 

 

 

 

Average common shares outstanding

 
7,811 

 
7,917 

 
8,029 

 

Potentially dilutive common shares outstanding

 
171 

 
224 

 
260 

 

Diluted average common shares outstanding

 
7,982 

 
8,141 

 
8,289 

 

 

 

 

 

 

 

 

 

Diluted earnings per common share

 
$
0.92 

 
$
0.89 

 
$
1.89 

 

 

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.