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Debt Obligations (Tables) | 3 Months Ended
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Mar. 31, 2024
Debt Disclosure [Abstract] |
Schedule of Notes Payable | Debt obligations consisted of the following:
| March 31, 2024 |  | December 31, 2023
| (in thousands)
Credit facility at a floating rate of interest of one-month term Secured Overnight Financing Rate (“SOFR”) plus 3.00% and 1.38% on $218.8 million and $71.2 million, respectively, at March 31, 2024, secured by engines. The facility has a committed amount of $658.2 million at March 31, 2024, of which $158.2 million revolves until the maturity date of June 2024, and $500.0 million revolves until the maturity date of June 2025. | $ | 290,000 |  |  | $ | 353,000 |
WEST VII Series A 2023 term notes payable at a fixed rate of interest of 8.00%, maturing in October 2048, secured by engines | 396,931 |  |  | 406,894 |
WEST VI Series A 2021 term notes payable at a fixed rate of interest of 3.10%, maturing in May 2046, secured by engines | 250,544 |  |  | 252,986 |
WEST VI Series B 2021 term notes payable at a fixed rate of interest of 5.44%, maturing in May 2046, secured by engines | 34,831 |  |  | 35,142 |
WEST VI Series C 2021 term notes payable at a fixed rate of interest of 7.39%, maturing in May 2046, secured by engines | 11,781 |  |  | 12,361 |
WEST V Series A 2020 term notes payable at a fixed rate of interest of 3.23%, maturing in March 2045, secured by engines | 236,642 |  |  | 240,371 |
WEST V Series B 2020 term notes payable at a fixed rate of interest of 4.21%, maturing in March 2045, secured by engines | 32,966 |  |  | 33,485 |
WEST V Series C 2020 term notes payable at a fixed rate of interest of 6.66%, maturing in March 2045, secured by engines | 10,043 |  |  | 10,695 |
WEST IV Series A 2018 term notes payable at a fixed rate of interest of 4.75%, maturing in September 2043, secured by engines | 209,079 |  |  | 212,157 |
WEST IV Series B 2018 term notes payable at a fixed rate of interest of 5.44%, maturing in September 2043, secured by engines | 28,602 |  |  | 29,024 |
WEST III Series A 2017 term notes payable at a fixed rate of interest of 4.69%, maturing in August 2042, secured by engines | 171,760 |  |  | 175,705 |
WEST III Series B 2017 term notes payable at a fixed rate of interest of 6.36%, maturing in August 2042, secured by engines | 23,062 |  |  | 23,592 |
Note payable at a fixed rate of interest of 5.00%, maturing in February 2033, secured by an engine | 20,980 |  |  | — |
Note payable at a fixed rate of interest of 4.59%, maturing in November 2032, secured by an engine | 22,483 |  |  | 22,610 |
Note payable at a fixed rate of interest of 4.23%, maturing in June 2032, secured by an engine | 17,780 |  |  | 17,802 |
Note payable at a fixed rate of interest of 3.18%, maturing in July 2024, secured by an aircraft | 707 |  |  | 1,235 |
| 1,758,191 |  |  | 1,827,059 |
Less: unamortized debt issuance costs and note discounts | (22,621) |  |  | (24,178) |
Total debt obligations | $ | 1,735,570 |  |  | $ | 1,802,881 |
Schedule or Debt Maturities | Principal outstanding at March 31, 2024 is expected to be repayable as follows:
Year |  | (in thousands)
2024 |  | $ | 54,432 |
2025 |  | 361,641 |
2026 |  | 270,873 |
2027 |  | 193,282 |
2028 |  | 239,395 |
Thereafter |  | 638,568 |
Total |  | $ | 1,758,191 |

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