EX-11.1 2 wlfc-20170331ex11141b25c.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 March 31,

 

 

    

 

 

 

    

2017

    

2016

 

Basic

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to common shareholders

 

 

 

 

 

 

 

$

7,839 

 

$

4,011 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares:

 

 

 

 

 

 

 

 

 

 

 

 

 

Average common shares outstanding

 

 

 

 

 

 

 

 
6,114

 

 
7,149

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per common share

 

 

 

 

 

 

 

$

1.28 

 

$

0.56 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assuming full dilution

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to common shareholders

 

 

 

 

 

 

 

$

7,839 

 

$

4,011 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares:

 

 

 

 

 

 

 

 

 

 

 

 

 

Average common shares outstanding

 

 

 

 

 

 

 

 

6,114 

 

 

7,149 

 

Potentially dilutive common shares outstanding

 

 

 

 

 

 

 

 

126 

 

 

123 

 

Diluted average common shares outstanding

 

 

 

 

 

 

 

 

6,240 

 

 

7,272 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per common share

 

 

 

 

 

 

 

$

1.26 

 

$

0.55 

 

 

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.