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v3.8.0.1

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017
--- | --- | ---
ASSETS |  |  |
Cash and cash equivalents |  | $ 12,662 | $ 7,052
Restricted cash |  | 44,511 | 40,272
Equipment held for operating lease, less accumulated depreciation of $380,108 and $368,683 at March 31, 2018 and December 31, 2017, respectively |  | 1,466,144 | 1,342,571
Maintenance rights |  | 14,763 | 14,763
Equipment held for sale |  | 23,671 | 34,172
Operating lease related receivables, net of allowances of $1,046 and $949 at March 31, 2018 and December 31, 2017, respectively |  | 24,630 | 18,848
Spare parts inventory |  | 24,070 | 16,379
Investments |  | 51,250 | 50,641
Property, equipment & furnishings, less accumulated depreciation of $7,812 and $7,374 at March 31, 2018 and December 31, 2017, respectively |  | 25,927 | 26,074
Intangible assets, net |  | 1,626 | 1,727
Other assets |  | 35,251 | 50,932
Total assets | [1] | 1,724,505 | 1,603,431
Liabilities: |  |  |
Accounts payable and accrued expenses |  | 36,800 | 22,072
Deferred income taxes |  | 81,053 | 78,280
Debt obligations |  | 1,179,657 | 1,085,405
Maintenance reserves |  | 85,278 | 75,889
Security deposits |  | 26,340 | 25,302
Unearned revenue |  | 9,268 | 8,102
Total liabilities | [2] | 1,418,396 | 1,295,050
Redeemable preferred stock ($0.01 par value, 2,500 shares authorized; 2,500 shares issued and outstanding at March 31, 2018 and December 31, 2017) |  | 49,491 | 49,471
Shareholders' equity: |  |  |
Common stock ($0.01 par value, 20,000 shares authorized; 6,116 and 6,419 shares issued at March 31, 2018 and December 31, 2017, respectively) |  | 61 | 64
Paid-in capital in excess of par |  |  | 2,319
Retained earnings |  | 255,020 | 256,301
Accumulated other comprehensive income, net of income tax expense of $441 and $83 at March 31, 2018 and December 31, 2017, respectively. |  | 1,537 | 226
Total shareholders' equity |  | 256,618 | 258,910
Total liabilities, redeemable preferred stock and shareholders' equity |  | $ 1,724,505 | $ 1,603,431
[1] | Total assets at March 31, 2018 and December 31, 2017, respectively, include the following assets of variable interest entities (VIEs) that can only be used to settle the liabilities of the VIEs: Cash, $595 and $130; Restricted Cash $44,511 and $40,272; Equipment, $653,809 and $657,333; and Other, $1,230 and $20,090, respectively.
[2] | Total liabilities at March 31, 2018 and December 31, 2017, respectively, include the following liabilities of VIEs for which the VIEs' creditors do not have recourse to Willis Lease Finance Corporation: Debt obligations, $568,618 and $577,056, respectively.

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- Definition Sum of the carrying values as of the balance sheet date of obligations incurred through that date, including liabilities incurred and payable to vendors for goods and services received, taxes, interest, rent and utilities, compensation costs, payroll taxes and fringe benefits (other than pension and postretirement obligations), contractual rights and obligations, and statutory obligations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.15(1),(5)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.15) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 + Details
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- Definition The amount of property, by major property class, net of accumulated depreciation, subject to or available for lease as of the balance sheet date. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6454179&loc=d3e41551-112718 + Details
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- Definition The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. This element is for unclassified presentations; for classified presentations there is a separate and distinct element. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.1) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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- References No definition available. + Details
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Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

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- Definition Carrying amount, attributable to parent, of an entity's issued and outstanding stock which is not included within permanent equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. Includes stock with a put option held by an ESOP and stock redeemable by a holder only in the event of a change in control of the issuer. + References No definition available. + Details
Name: | us-gaap_TemporaryEquityCarryingAmountAttributableToParent
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

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- Definition Equipment held for sale. + References No definition available. + Details
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Namespace Prefix: | wlfc_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

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- Definition A liability for future maintenance events that have a refundable aspect contingent on return conditions. + References No definition available. + Details
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Namespace Prefix: | wlfc_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

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- Definition Represents the carrying amount of maintenance rights as of balance sheet date. + References No definition available. + Details
Name: | wlfc_MaintenanceRights
Namespace Prefix: | wlfc_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant