← WILLIS LEASE FINANCE CORP
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Net Income From Continuing Operations | — | — | — | — | — | — | $5.4m | $43.8m | $108.6m | $113.8m | |
| Net Income (Loss) Attributable to Parent | $14.1m | $62.2m | $43.2m | $66.9m | $9.7m | $3.4m | $5.4m | $43.8m | $108.6m | $113.8m | |
| Net Income (Loss) Available to Common Stockholders, Basic | $13.8m | $60.3m | $39.9m | $63.6m | $6.4m | $18k | $2.1m | $40.4m | $104.4m | $108.1m | |
| Depreciation, Depletion and Amortization | $66.3m | $66.0m | $76.8m | $86.2m | $94.5m | $90.5m | $88.3m | $90.9m | $92.5m | $111.6m | |
| Amortization of Deferred Charges | $4.3m | $5.2m | $6.4m | $6.4m | $5.1m | $5.0m | $5.3m | $6.2m | — | — | |
| Amortization of Debt Issuance Costs and Discounts | — | — | — | — | — | — | — | $4.8m | $7.6m | $7.8m | |
| Amortization of Intangible Assets | — | — | — | — | — | — | — | — | $2.7m | $1.5m | |
| Amortization Cash Flow | — | — | — | — | — | — | — | $0 | $2.7m | $1.5m | |
| Amortization Of Intangibles | — | — | — | — | — | — | — | $0 | $2.7m | $1.5m | |
| Depreciation Amortization Depletion | — | — | — | — | — | — | $88.3m | $90.9m | $95.2m | $113.0m | |
| Deferred Income Tax Expense (Benefit) | $9.1m | ($26.4m) | $12.1m | $21.1m | $7.0m | $4.2m | $2.1m | $19.7m | $38.6m | $45.9m | |
| Deferred Income Tax | — | — | — | — | — | — | $2.1m | $19.7m | $38.6m | $45.9m | |
| Deferred Tax | — | — | — | — | — | — | $2.1m | $19.7m | $38.6m | $45.9m | |
| Share-based Payment Arrangement, Noncash Expense | $3.7m | $4.3m | $5.4m | $7.8m | $11.4m | $16.6m | $13.6m | $14.8m | $29.2m | $44.6m | |
| Payment, Tax Withholding, Share-based Payment Arrangement | $1.4m | $1.1m | $1.3m | $1.5m | $1.2m | $5.0m | $3.7m | $5.8m | $8.2m | $19.3m | |
| Share-based Payment Arrangement, Expense | $3.7m | $4.3m | $5.4m | $7.8m | $11.4m | $16.6m | $13.6m | $14.8m | $29.2m | $44.6m | |
| Gain (Loss) on Sale of Assets and Asset Impairment Charges | — | — | — | — | — | $7.7m | $21.8m | $4.4m | $11.2m | $32.9m | |
| Operating Lease, Impairment Loss | — | — | — | — | — | — | $0 | $2.0m | $6.3m | $8.9m | |
| Asset Impairment Charge | — | — | — | — | — | — | $21.8m | $4.4m | $11.2m | $32.9m | |
| Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | — | — | $41k | ($42k) | $9k | ($44k) | $71k | ($9k) | $0 | ($3.1m) | |
| Gain (Loss) on Disposition of Business | — | — | — | — | — | — | — | — | — | $43.0m | |
| Gain (Loss) on Extinguishment of Debt | ($137k) | — | — | ($220k) | ($4.7m) | $0 | $2.6m | $0 | — | ($3.1m) | |
| Gain (Loss) on Disposition of Assets for Financial Service Operations | — | — | — | — | — | — | — | — | — | $378k | |
| Income (Loss) from Equity Method Investments | $1.8m | $7.2m | $3.8m | $8.6m | $2.6m | $800k | ($62k) | $2.9m | $8.2m | $13.4m | |
| Income Tax Expense (Benefit) | $9.9m | ($26.1m) | $13.0m | $22.0m | $7.6m | $5.8m | $4.4m | $23.3m | $44.0m | $46.8m | |
| Operating Lease, Lease Income | — | — | — | $190.7m | $142.9m | — | — | — | — | — | |
| Earnings (Loss)es From Equity Investments | — | — | — | — | — | — | $62k | ($2.9m) | ($8.2m) | ($13.4m) | |
| Income (Loss) from Equity Method Investments, Net of Dividends or Distributions | $1.8m | $7.2m | $3.8m | $8.6m | — | — | — | — | — | — | |
| Changes in operating assets and liabilities: | |||||||||||
| Additional Financial Items | |||||||||||
| Increase (Decrease) in Accounts Receivable | $2.3m | $2.5m | $5.9m | $517k | $4.2m | $11.2m | $3.2m | $17.4m | ($21.1m) | ($1.5m) | |
| Increase (Decrease) in Inventories | $5.1m | $1.9m | ($12.1m) | ($29.1m) | ($7.0m) | ($7.9m) | ($14.3m) | $1.7m | $31.2m | ($13.3m) | |
| Equipment Expense | $7.0m | $9.7m | $11.1m | $8.1m | $6.5m | $9.4m | $14.4m | $20.2m | $22.3m | $31.4m | |
| Foreign Currency Transaction Gain (Loss), before Tax | $868k | ($896k) | ($770k) | ($222k) | $1.0m | $398k | ($1.4m) | ($523k) | ($414k) | $863k | |
| Gain (Loss) on Sale of Financing Receivable | — | — | — | — | ($79k) | $10.9m | $3.1m | $0 | — | $378k | |
| Gain (Loss) Related to Litigation Settlement | — | $1.3m | — | — | — | — | — | — | — | — | |
| General and Administrative Expense | $47.8m | $55.7m | $72.0m | $86.5m | $67.9m | $75.3m | $92.5m | $144.8m | $146.8m | $194.7m | |
| Goodwill | — | — | — | — | — | — | — | — | $1.0m | $300k | |
| Provision for Loan, Lease, and Other Losses | ($571k) | $162k | $1.5m | ($272k) | $5k | ($164k) | $837k | $838k | ($716k) | ($544k) | |
| Revenue from Contract with Customer, Including Assessed Tax | — | — | $87.0m | $109.0m | — | — | — | — | — | — | |
| Unrealized Gain (Loss) on Derivatives | $69k | $896k | $533k | — | — | — | — | — | — | — | |
| Beginning Cash Position | — | — | — | — | — | — | $95.6m | $89.0m | $168.0m | $132.5m | |
| Cash Flow From Continuing Financing Activities | — | — | — | — | — | — | $43.3m | ($57.9m) | $445.0m | $387.6m | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | — | — | ($194.4m) | ($92.8m) | ($764.9m) | ($256.4m) | |
| Change In Inventory | — | — | — | — | — | — | $14.3m | ($1.7m) | ($31.2m) | $13.3m | |
| Change In Other Current Assets | — | — | — | — | — | — | ($5.6m) | $3.2m | $676k | ($27.6m) | |
| Change In Other Current Liabilities | — | — | — | — | — | — | $2.4m | $3.3m | ($366k) | $602k | |
| Change In Other Working Capital | — | — | — | — | — | — | $6.5m | $54.5m | $904k | $21.1m | |
| Change In Payables And Accrued Expense | — | — | — | — | — | — | $942k | $17.2m | $20.7m | $8.5m | |
| Change In Prepaid Assets | — | — | — | — | — | $3.8m | $2.4m | — | — | — | |
| Change In Receivables | — | — | — | — | — | — | ($3.2m) | ($17.4m) | $21.1m | $1.5m | |
| Change In Working Capital | — | — | — | — | — | — | $15.3m | $59.1m | $11.8m | $17.4m | |
| Changes In Cash | — | — | — | — | — | — | ($6.6m) | $79.0m | ($35.5m) | $414.4m | |
| End Cash Position | — | — | — | — | — | — | $89.0m | $168.0m | $132.5m | $546.9m | |
| Financing Cash Flow | — | — | — | — | — | — | $43.3m | ($57.9m) | $445.0m | $387.6m | |
| Free Cash Flow | — | — | — | — | — | — | ($148.6m) | $61.0m | ($561.7m) | ($272.4m) | |
| Gain Loss On Investment Securities | — | — | — | — | — | — | ($3.1m) | ($247k) | — | $2.6m | |
| Gain Loss On Sale Of Business | — | — | — | — | — | — | — | — | $0 | ($43.0m) | |
| Gain Loss On Sale Of PPE | — | — | — | — | — | — | ($3.2m) | ($10.6m) | ($45.1m) | ($54.0m) | |
| Investing Cash Flow | — | — | — | — | — | — | ($194.4m) | ($92.8m) | ($764.9m) | ($256.4m) | |
| Issuance Of Capital Stock | — | — | — | — | — | — | — | $0 | $13.1m | $0 | |
| Net Business Purchase And Sale | — | — | — | — | — | — | — | — | $0 | $12.7m | |
| Net PPE Purchase And Sale | — | — | — | — | — | — | ($223.8m) | ($83.7m) | ($675.0m) | ($286.0m) | |
| Net Preferred Stock Issuance | — | — | — | — | — | — | — | $0 | $13.1m | $0 | |
| Operating Gains Losses | — | — | — | — | — | — | ($8.8m) | ($13.7m) | ($53.3m) | ($104.6m) | |
| Other Non Cash Items | — | — | — | — | — | — | $5.9m | $10.0m | $40.7m | $17.0m | |
| Preferred Stock Issuance | — | — | — | — | — | — | — | $0 | $13.1m | $0 | |
| Proceeds From Stock Option Exercised | — | — | — | — | — | — | $335k | $274k | $262k | $250k | |
| Provisionand Write Offof Assets | — | — | — | — | — | — | $837k | $838k | ($716k) | ($544k) | |
| Purchase Of Business | — | — | — | — | — | — | — | — | $0 | ($9.2m) | |
| Purchase Of PPE | $1.0m | $10.8m | $3.5m | $6.3m | $3.0m | $2.2m | ($293.0m) | ($168.8m) | ($846.1m) | ($555.7m) | |
| Repurchase Of Capital Stock | — | — | — | — | — | — | ($8.9m) | ($5.8m) | ($8.2m) | ($23.1m) | |
| Sale Of Business | — | — | — | — | — | — | — | — | $0 | $21.9m | |
| Sale Of PPE | — | — | — | — | — | — | $69.2m | $85.1m | $171.2m | $269.7m | |
| Stock Based Compensation | — | — | — | — | — | — | $13.6m | $14.8m | $29.2m | $44.6m | |
| Net Cash Provided by (Used in) Operating Activities | $100.9m | $135.3m | $188.7m | $230.3m | $93.4m | $90.7m | $144.4m | $229.7m | $284.4m | $283.2m | |
| Cash flows from investing activities: | |||||||||||
| Payments to Acquire Property, Plant, and Equipment | $1.0m | $10.8m | $3.5m | $6.3m | $3.0m | $2.2m | $6.6m | $5.1m | $15.6m | $31.1m | |
| Net Other Investing Changes | — | — | — | — | — | — | $29.4m | ($9.1m) | ($90.0m) | $16.9m | |
| Net Cash Provided by (Used in) Investing Activities | — | ($323.7m) | ($380.5m) | ($147.4m) | ($506.7m) | ($148.0m) | ($194.4m) | ($92.8m) | ($764.9m) | ($256.4m) | |
| Cash flows from financing activities: | |||||||||||
| Proceeds from Issuance of Long-term Debt | $149.0m | $686.2m | $759.4m | $340.1m | $973.2m | $513.7m | $284.0m | $625.7m | $1.3b | $1.7b | |
| Issuance Of Debt | — | — | — | — | — | — | $284.0m | $625.7m | $1.3b | $1.7b | |
| Long Term Debt Issuance | — | — | — | — | — | — | $284.0m | $625.7m | $1.3b | $1.7b | |
| Net Issuance Payments Of Debt | — | — | — | — | — | — | $55.2m | ($39.8m) | $465.7m | $439.4m | |
| Net Long Term Debt Issuance | — | — | — | — | — | — | $55.2m | ($39.8m) | $465.7m | $439.4m | |
| Repayments of Long-term Debt | $114.0m | $496.2m | $504.8m | $428.1m | $530.8m | $417.0m | $228.8m | $665.5m | $840.0m | $1.2b | |
| Long Term Debt Payments | — | — | — | — | — | — | ($228.8m) | ($665.5m) | ($840.0m) | ($1.2b) | |
| Repayment Of Debt | — | — | — | — | — | — | ($228.8m) | ($665.5m) | ($840.0m) | ($1.2b) | |
| Net Common Stock Issuance | — | — | — | — | — | — | ($8.9m) | ($5.8m) | ($8.2m) | ($23.1m) | |
| Payments for Repurchase of Common Stock | $29.0m | $3.5m | $16.1m | $3.6m | $1.5m | $10.1m | $5.2m | $0 | $11.6m | $3.8m | |
| Payments of Ordinary Dividends, Common Stock | — | — | — | — | — | — | — | — | $10.7m | $8.7m | |
| Common Stock Payments | — | — | — | — | — | — | ($8.9m) | ($5.8m) | ($8.2m) | ($23.1m) | |
| Cash Dividends Paid | — | — | — | — | — | — | ($3.3m) | ($3.2m) | ($14.2m) | ($14.4m) | |
| Common Stock Dividend Paid | — | — | — | — | — | — | — | $0 | ($10.7m) | ($8.7m) | |
| Dividend Received CFO | — | — | — | — | — | $0 | — | $0 | $3.0m | $3.8m | |
| Preferred Stock Dividend Paid | — | — | — | — | — | — | ($3.3m) | ($3.2m) | ($3.5m) | ($5.7m) | |
| Net Other Financing Charges | — | — | — | — | — | ($4.6m) | — | ($9.4m) | ($11.6m) | ($14.6m) | |
| Net Cash Provided by (Used in) Financing Activities | — | $203.4m | $226.4m | ($101.2m) | $428.5m | $74.1m | $43.3m | ($57.9m) | $445.0m | $387.6m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | — | $34.6m | ($18.3m) | $15.3m | $16.7m | ($6.6m) | $79.0m | ($35.5m) | $414.4m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | $81.9m | $63.7m | $78.9m | $95.6m | $89.0m | $168.0m | $132.5m | $546.9m | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Change In Cash Supplemental As Reported | — | — | — | — | — | — | ($6.6m) | $79.0m | ($35.5m) | $414.4m | |
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $37.3m | $42.8m | $59.1m | $63.6m | $54.3m | $50.3m | $63.5m | $76.9m | $100.7m | $131.8m | |
| Income Taxes Paid, Net | $459k | $440k | $1.1m | $222k | $510k | $1.4m | $2.2m | $505k | $7.1m | $3.4m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.