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Investments - Schedule of Financial Information (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Jun. 30, 2024
Dec. 31, 2023
Jun. 30, 2023
Dec. 31, 2022
Consolidated Statements of Income                
Revenue $ 146,223 $ 105,745 $ 416,426 $ 304,275        
Expenses 112,519 85,747 301,426 256,837        
Net income 24,096 14,618 87,551 32,828        
Consolidated Balance Sheets                
Total assets [1] 3,043,593   3,043,593     $ 2,652,344    
Total liabilities [2] 2,462,779   2,462,779     2,163,417    
Total WMES net equity 517,761 431,928 517,761 431,928 $ 492,418 438,963 $ 417,167 $ 404,688
WMES                
Consolidated Statements of Income                
Revenue 15,342 13,149 56,491 34,999        
Expenses 14,045 12,659 42,557 35,212        
Net income 1,297 $ 490 13,934 $ (213)        
Consolidated Balance Sheets                
Total assets 355,272   355,272     236,732    
Total liabilities 260,722   260,722     150,604    
Total WMES net equity $ 94,550   $ 94,550     $ 86,128    
[1] Total assets at September 30, 2024 and December 31, 2023, include the following assets of variable interest entities (“VIEs”) that can only be used to settle the liabilities of the VIEs: Restricted cash $99,333 and $160,958; Equipment $1,721,262 and $1,518,050; Maintenance Rights $13,080 and $7,806; Notes receivable $130,356 and $91,960; Investments in sales-type leases $19,004 and $3,564; and Other assets $15,335 and $13,339 (each respectively).
[2] Total liabilities at September 30, 2024 and December 31, 2023, include the following liabilities of VIEs for which the VIEs’ creditors do not have recourse to Willis Lease Finance Corporation: Debt obligations $1,528,696 and $1,411,680, respectively.