EX-11.1 2 wlfc-20151231ex111b4a483.htm 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, |
|  | 201 5 |  | 201 4 |  | 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.