EX-11.1 2 wlfc-20161231ex1119cebfb.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, |
|  | 2016 |  | 2015 |  | 2014 |
Basic |  |  |  |  |  |  |
Earnings: |  |  |  |  |  |  |
Net income attributable to common shareholders |  | $ 13,780 |  | $ 6,460 |  | $ 7,180 |
Shares: |  |  |  |  |  |  |
Average common shares outstanding |  | 6,570 |  | 7,817 |  | 7,917 |
Basic earnings per common share |  | $ 2.10 |  | $ 0.83 |  | $ 0.91 |
Assuming full dilution |  |  |  |  |  |  |
Earnings: |  |  |  |  |  |  |
Net income attributable to common shareholders |  | $ 13,780 |  | $ 6,460 |  | $ 7,180 |
Shares: |  |  |  |  |  |  |
Average common shares outstanding |  | 6,570 |  | 7,817 |  | 7,917 |
Potentially dilutive common shares outstanding |  | 144 |  | 170 |  | 224 |
Diluted average common shares outstanding |  | 6,714 |  | 7,987 |  | 8,141 |
Diluted earnings per common share |  | $ 2.05 |  | $ 0.81 |  | $ 0.88 |

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.