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v3.21.1

Investments - Summarized Financial Information (Details) - USD ($) $ in Thousands | 3 Months Ended |  |
--- | --- | --- | ---
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019
Income Statement [Abstract] |  |  |  |  |
Revenue |  | $ 61,125 | $ 81,609 |  |
Expenses |  | 62,297 | 73,285 |  |
Net (loss) income |  | (1,332) | 4,286 |  |
Statement of Financial Position [Abstract] |  |  |  |  |
Total assets | [1] | 2,409,674 |  | $ 2,364,948 |
Total liabilities | [2] | 1,987,519 |  | 1,951,211 |
Total WMES net equity |  | 372,412 | 353,007 | 364,015 | $ 350,338
WMES |  |  |  |  |
Income Statement [Abstract] |  |  |  |  |
Revenue |  | 4,761 | 8,111 |  |
Expenses |  | 6,169 | 7,754 |  |
Net (loss) income |  | (1,408) | $ 357 |  |
Statement of Financial Position [Abstract] |  |  |  |  |
Total assets |  | 299,545 |  | 303,886 |
Total liabilities |  | 216,903 |  | 219,836 |
Total WMES net equity |  | $ 82,642 |  | $ 84,050 |
[1] | Total assets at March 31, 2021 and December 31, 2020, respectively, include the following assets of variable interest entities (“VIEs”) that can only be used to settle the liabilities of the VIEs: Restricted cash $33,763 and $35,262; Equipment $1,025,492 and $1,037,684; Maintenance Rights $767 and $767; Inventory $5,437 and $5,437; Notes receivable $26,220 and $26,392; and Other assets $604 and $558, respectively.
[2] | Total liabilities at March 31, 2021 and December 31, 2020, respectively, include the following liabilities of VIEs for which the VIEs’ creditors do not have recourse to Willis Lease Finance Corporation: Debt obligations $898,398 and $907,550, respectively.

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