XML 61 R47.htm IDEA: XBRL DOCUMENT
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Notes Payable (Details) |  |  |  |  |  | 1 Months Ended | 12 Months Ended | 24 Months Ended |  |
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Mar. 25, 2015 USD ($) | Dec. 31, 2014 | Jul. 16, 2014 USD ($) | Jan. 10, 2014 engine | Sep. 17, 2012 USD ($) engine | Apr. 30, 2016 USD ($) | Dec. 31, 2016 USD ($) item | Dec. 31, 2015 USD ($) item | Dec. 31, 2014 USD ($) | Dec. 31, 2016 USD ($) | Jun. 30, 2016 USD ($) item | Sep. 18, 2013 USD ($)
Long Term Debt |  |  |  |  |  |  |  |  |  |  |  |
One-month LIBOR rate (as a percent) |  |  |  |  |  |  | 0.77% | 0.43% |  | 0.77% |  |
Principal outstanding repayable |  |  |  |  |  |  |  |  |  |  |  |
2017 |  |  |  |  |  |  | $ 23,624,000 |  |  | $ 23,624,000 |  |
2018 |  |  |  |  |  |  | 33,294,000 |  |  | 33,294,000 |  |
2019 |  |  |  |  |  |  | 23,430,000 |  |  | 23,430,000 |  |
2020 |  |  |  |  |  |  | 23,031,000 |  |  | 23,031,000 |  |
2021 |  |  |  |  |  |  | 631,268,000 |  |  | 631,268,000 |  |
Thereafter |  |  |  |  |  |  | 179,056,000 |  |  | 179,056,000 |  |
Notes payable |  |  |  |  |  |  | 913,703,000 | $ 878,684,000 |  | 913,703,000 |  |
Less: unamortized debt issuance costs |  |  |  |  |  |  | (13,448,000) | (12,595,000) |  | (13,448,000) |  |
Total notes payable |  |  |  |  |  |  | 900,255,000 | 866,089,000 |  | 900,255,000 |  |
Notes payable |  |  |  |  |  |  | 900,255,000 | 866,089,000 |  | $ 900,255,000 |  |
Net proceeds received from notes issued and sold |  |  |  |  |  |  | $ 149,000,000 | 192,700,000 | $ 154,395,000 |  |  |
WOLF |  |  |  |  |  |  |  |  |  |  |  |
Principal outstanding repayable |  |  |  |  |  |  |  |  |  |  |  |
Acquisition of remaining outstanding shares of previously held equity method investment (as a percent) |  |  |  |  |  |  | 100.00% |  |  | 100.00% |  | 50.00%
WEST II |  |  |  |  |  |  |  |  |  |  |  |
Principal outstanding repayable |  |  |  |  |  |  |  |  |  |  |  |
Fixed amortization of notes payable |  |  |  |  |  |  | $ 0 |  |  |  |  |
WEST II Series 2012-A term notes payable at a fixed rate of interest maturing in September 2037. Secured by engines | WEST II |  |  |  |  |  |  |  |  |  |  |  |
Long Term Debt |  |  |  |  |  |  |  |  |  |  |  |
Fixed rate (as a percent) |  |  |  |  |  |  | 5.50% |  |  | 5.50% |  |
Principal outstanding repayable |  |  |  |  |  |  |  |  |  |  |  |
Notes payable |  |  |  |  |  |  | $ 279,541,000 | 300,467,000 |  | $ 279,541,000 |  |
Maturity term |  |  |  |  |  |  | 10 years |  |  |  |  |
Face amount |  |  |  |  | $ 390,000,000 |  |  |  |  |  |  |
Net proceeds received from notes issued and sold |  |  |  |  | 384,900,000 |  |  |  |  |  |  |
Number of engines in portfolio offered as collateral | item |  |  |  |  |  |  | 58 |  |  |  |  |
Number of business days to pay interest |  |  |  |  |  |  | 5 days |  |  |  |  |
WEST II Series 2012-A term notes payable at a fixed rate of interest maturing in September 2037. Secured by engines | WEST II | Minimum |  |  |  |  |  |  |  |  |  |  |  |
Principal outstanding repayable |  |  |  |  |  |  |  |  |  |  |  |
Minimum amount of cash from maintenance reserve payments required to be held in restricted cash account |  |  |  |  |  |  | $ 9,000,000 |  |  | 9,000,000 |  |
Note payable at fixed interest rates ranging from 2.60% to 2.97%, maturing in July 2024. Secured by an aircraft |  |  |  |  |  |  |  |  |  |  |  |
Long Term Debt |  |  |  |  |  |  |  |  |  |  |  |
Initial term for interest payment |  |  |  |  |  |  | 5 years |  |  |  |  |
Principal outstanding repayable |  |  |  |  |  |  |  |  |  |  |  |
Notes payable |  |  |  |  |  |  | $ 14,453,000 | 16,135,000 |  | $ 14,453,000 |  |
Maturity term |  |  | 10 years |  |  |  |  |  |  |  |  |
Face amount |  |  | $ 13,400,000 |  |  |  |  |  |  |  | $ 4,700,000 |
Number of term notes held | item |  |  |  |  |  |  |  |  |  |  | 2 |
Note payable at fixed interest rates ranging from 2.60% to 2.97%, maturing in July 2024. Secured by an aircraft | Minimum |  |  |  |  |  |  |  |  |  |  |  |
Long Term Debt |  |  |  |  |  |  |  |  |  |  |  |
Fixed rate (as a percent) |  |  |  |  |  |  | 2.60% |  |  | 2.60% |  |
Note payable at fixed interest rates ranging from 2.60% to 2.97%, maturing in July 2024. Secured by an aircraft | Maximum |  |  |  |  |  |  |  |  |  |  |  |
Long Term Debt |  |  |  |  |  |  |  |  |  |  |  |
Fixed rate (as a percent) |  |  |  |  |  |  | 2.97% |  |  | 2.97% |  |
Note payable at a fixed interest rate of 2.25%, maturing in January 2018, secured by engines |  |  |  |  |  |  |  |  |  |  |  |
Long Term Debt |  |  |  |  |  |  |  |  |  |  |  |
Fixed rate (as a percent) |  |  |  |  |  |  | 2.25% |  |  | 2.25% |  |
Principal outstanding repayable |  |  |  |  |  |  |  |  |  |  |  |
Notes payable |  |  |  |  |  |  | $ 11,709,000 | 13,082,000 |  | $ 11,709,000 |  |
Maturity term |  |  |  | 4 years |  |  |  |  |  |  |  |
Number of engines pledged as collateral | engine |  |  |  | 3 |  |  |  |  |  |  |  |
Note payable at a fixed interest rate of 2.25%, maturing in January 2018, secured by engines | One-month LIBOR |  |  |  |  |  |  |  |  |  |  |  |
Long Term Debt |  |  |  |  |  |  |  |  |  |  |  |
Fixed rate (as a percent) |  |  |  | 2.25% |  |  |  |  |  |  |  |
Prior WEST notes |  |  |  |  |  |  |  |  |  |  |  |
Principal outstanding repayable |  |  |  |  |  |  |  |  |  |  |  |
Notes payable |  |  |  |  | $ 435,900,000 |  |  |  |  |  |  |
Notes payable Member |  |  |  |  |  |  |  |  |  |  |  |
Principal outstanding repayable |  |  |  |  |  |  |  |  |  |  |  |
Total notes payable |  |  |  |  |  |  | 900,300,000 |  |  | 900,300,000 |  |
Notes payable |  |  |  |  |  |  | $ 900,300,000 |  |  | $ 900,300,000 |  |
Notes payable Member | Minimum |  |  |  |  |  |  |  |  |  |  |  |
Long Term Debt |  |  |  |  |  |  |  |  |  |  |  |
Fixed rate (as a percent) |  |  |  |  |  |  | 2.60% |  |  | 2.60% |  |
Principal outstanding repayable |  |  |  |  |  |  |  |  |  |  |  |
Maturity term |  |  |  |  |  |  | 1 year |  |  |  |  |
Notes payable Member | Maximum |  |  |  |  |  |  |  |  |  |  |  |
Long Term Debt |  |  |  |  |  |  |  |  |  |  |  |
Fixed rate (as a percent) |  |  |  |  |  |  | 5.50% |  |  | 5.50% |  |
Principal outstanding repayable |  |  |  |  |  |  |  |  |  |  |  |
Maturity term |  |  |  |  |  |  | 7 years 6 months |  |  |  |  |
Revolving credit facility |  |  |  |  |  |  |  |  |  |  |  |
Long Term Debt |  |  |  |  |  |  |  |  |  |  |  |
Basis spread on variable rate (as a percent) |  |  |  |  |  | 2.75% |  |  |  |  |  |
Maximum borrowing capacity under credit facility |  |  |  |  |  | $ 890,000,000 |  |  |  |  |  |
Amount of debt available under accordion feature |  |  |  |  |  | 1,000,000,000 |  |  |  |  |  |
Principal outstanding repayable |  |  |  |  |  |  |  |  |  |  |  |
Leverage ratio |  | 3.15 |  |  |  |  |  |  | 3.15 |  |  |
Remaining borrowing capacity available |  |  |  |  |  |  | $ 282,000,000 | 151,000,000 |  | $ 282,000,000 |  |
Maximum borrowing capacity under credit facility before amendment |  |  |  |  |  | $ 700,000,000 |  |  |  |  |  |
Revolving credit facility | One-month LIBOR |  |  |  |  |  |  |  |  |  |  |  |
Long Term Debt |  |  |  |  |  |  |  |  |  |  |  |
Basis spread on variable rate (as a percent) |  | 2.75% |  |  |  |  |  |  |  |  |  |
Revolving credit facility | WEST |  |  |  |  |  |  |  |  |  |  |  |
Principal outstanding repayable |  |  |  |  |  |  |  |  |  |  |  |
Number of engines pledged as collateral | engine |  |  |  |  | 22 |  |  |  |  |  |  |
Revolving credit facility | Credit agreement | Minimum |  |  |  |  |  |  |  |  |  |  |  |
Principal outstanding repayable |  |  |  |  |  |  |  |  |  |  |  |
Interest coverage ratio |  |  |  |  |  |  | 2.25 |  |  | 2.25 |  |
Revolving credit facility | Credit agreement | Maximum |  |  |  |  |  |  |  |  |  |  |  |
Principal outstanding repayable |  |  |  |  |  |  |  |  |  |  |  |
Leverage ratio |  |  |  |  |  |  | 4.25 |  |  | 4.25 |  |
Credit facility at a floating rate of interest of LIBOR plus 2.75%, secured by engines |  |  |  |  |  |  |  |  |  |  |  |
Long Term Debt |  |  |  |  |  |  |  |  |  |  |  |
Maximum borrowing capacity under credit facility |  |  |  |  |  |  | $ 890,000,000 |  |  | $ 890,000,000 |  |
Principal outstanding repayable |  |  |  |  |  |  |  |  |  |  |  |
Notes payable |  |  |  |  |  |  | $ 608,000,000 | 549,000,000 |  | $ 608,000,000 |  |
Credit facility at a floating rate of interest of LIBOR plus 2.75%, secured by engines | LIBOR |  |  |  |  |  |  |  |  |  |  |  |
Long Term Debt |  |  |  |  |  |  |  |  |  |  |  |
Basis spread on variable rate (as a percent) |  |  |  |  |  |  |  |  |  | 2.75% |  |
Term notes | WOLF |  |  |  |  |  |  |  |  |  |  |  |
Principal outstanding repayable |  |  |  |  |  |  |  |  |  |  |  |
Notes payable |  |  |  |  |  |  |  | $ 24,000,000 |  |  |  |
Face amount |  |  |  |  |  |  |  |  |  |  |  | $ 36,000,000
Loan Paid off | $ 23,100,000 |  |  |  |  |  |  |  |  |  |  |
Discount (in percentage) | 5.00% |  |  |  |  |  |  |  |  |  |  |
Number of term notes held | item |  |  |  |  |  |  |  | 2 |  |  |  |

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