Wesco Aircraft (WAIR) 10-Q 8 May 15 2015 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Mar. 31, 2015	8-May-15
Document and Entity Information
Entity Registrant Name	Wesco Aircraft Holdings, Inc
Entity Central Index Key	1378718
Document Type	10-Q
Document Period End Date	31-Mar-15
Amendment Flag	FALSE
Current Fiscal Year End Date	-21
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		97,513,988
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q2

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Mar. 31, 2015	Sep. 30, 2014
In Thousands, unless otherwise specified
Current assets
Cash and cash equivalents	$102,245	$104,775
Accounts receivable, net of allowance for doubtful accounts of 7,228 and $5,332 at March 31, 2015 and September 30, 2014 respectively	280,836	301,668
Inventories	797,668	754,400
Prepaid expenses and other current assets	12,408	11,701
Income taxes receivable	4,807	16,314
Deferred income taxes	49,145	49,188
Total current assets	1,247,109	1,238,046
Property and equipment, net	46,813	49,264
Deferred financing costs, net	13,444	15,602
Goodwill	852,928	861,575
Intangible assets, net	222,637	234,945
Deferred income taxes	272	272
Other assets	12,234	12,570
Total assets	2,395,437	2,412,274
Current liabilities
Accounts payable	163,117	159,608
Accrued expenses and other current liabilities	29,166	31,596
Income taxes payable	7,815	5,884
Capital lease obligations-current portion	1,589	1,578
Long-term debt-current portion	43,187	23,437
Total current liabilities	244,874	222,103
Capital lease obligations	1,857	2,606
Long-term debt	1,014,469	1,079,219
Deferred income taxes	112,337	113,218
Other Liabilities	4,286	2,838
Total liabilities	1,377,823	1,419,984
Commitments and contingencies
Stockholders' equity
Preferred stock, $0.001 par value per share: 50,000,000 shares authorized; no shares issued and outstanding
Common stock, class A, $0.001 par value per share, authorized - 950,000,000 at March 31, 2015 and September 30, 2014; issued and outstanding - 97,467,137 and 96,840,912 as of March 31, 2015 and 97,010,286 and 96,384,061 as of September 30, 2014 respectively	97	97
Additional paid-in capital	418,239	413,019
Accumulated other comprehensive loss	-33,494	-10,822
Treasury stock, at cost, 626,225 shares as of March 31, 2015 and September 30, 2014	-8,452	-8,452
Retained earnings	641,224	598,448
Total stockholders' equity	1,017,614	992,290
Total liabilities and stockholders' equity	$2,395,437	$2,412,274

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2015	Sep. 30, 2014
In Thousands, except Share data, unless otherwise specified
Consolidated Balance Sheets
Accounts receivable, allowance for doubtful accounts (in dollars)	$7,228	$5,332
Preferred stock, par value (in dollars per share)	$0.00	$0.00
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	950,000,000	950,000,000
Common stock, shares issued	97,467,137	97,010,286
Common stock, shares outstanding	96,840,912	96,384,061
Treasury stock, shares	626,225	626,225

Consolidated_Statements_of_Ear

Consolidated Statements of Earnings and Comprehensive Income (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Consolidated Statements of Earnings and Comprehensive Income
Net sales	$385,559	$327,360	$759,255	$552,082
Cost of sales	270,623	228,271	532,450	374,935
Gross profit	114,936	99,089	226,805	177,147
Selling, general and administrative expenses	70,619	56,567	143,197	94,012
Income from operations	44,317	42,522	83,608	83,135
Interest expense, net	-9,346	-5,833	-18,719	-10,055
Other income (expense), net	791	20	1,039	774
Income before provision for income taxes	35,762	36,709	65,928	73,854
Provision for income taxes	-12,716	-12,397	-23,152	-25,172
Net income	23,046	24,312	42,776	48,682
Other comprehensive (loss) income, net	-11,023	1,285	-22,672	705
Comprehensive income	$12,023	$25,597	$20,104	$49,387
Net income per share:
Basic (in dollars per share)	$0.24	$0.25	$0.44	$0.51
Diluted (in dollars per share)	$0.24	$0.25	$0.44	$0.50
Weighted average shares outstanding:
Basic (in shares)	96,907	95,584	96,885	95,223
Diluted (in shares)	97,726	97,639	97,739	97,298

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities
Net income	$42,776	$48,682
Adjustments to reconcile net income to net cash provided by (used in) operating activities
Amortization of intangible assets	8,000	4,088
Depreciation	5,262	3,191
Amortization of deferred financing costs	2,158	1,170
Bad debt and sales return reserve	2,011	596
Non-cash foreign currency exchange	-1,029	-2,268
Non-cash stock-based compensation	4,650	3,055
(Income) loss from equity investment	-248	7
Excess tax benefit related to stock options exercised	-151	-6,691
Deferred income tax provision	11	4,395
Gain on fixed asset disposal	13
Changes in assets and liabilities
Accounts receivable	12,449	-58,909
Inventories	-45,051	-39,542
Prepaid expenses and other assets	-923	-1,306
Income taxes receivable	11,654	11,993
Accounts payable	6,380	3,471
Accrued expenses and other liabilities	-717	-5,128
Income taxes payable	2,253	-495
Net cash provided by (used in) operating activities	49,472	-33,691
Cash flows from investing activities
Purchases of property and equipment	-2,912	-3,173
Acquisition of business, net of cash acquired	-250	-560,200
Net cash used in investing activities	-3,162	-563,373
Cash flows from financing activities
Proceeds from issuance of long-term debt		565,000
Repayment of long-term debt	-45,000
Financing Fees		-10,161
Repayment of capital lease obligations	-789	-576
Excess tax benefit related to stock options exercised	151	6,691
Proceeds from exercise of stock options	418	6,355
Net cash (used in) provided by financing activities	-45,220	567,309
Effect of foreign currency exchange rates on cash and cash equivalents	-3,620	284
Net decrease in cash and cash equivalents	-2,530	-29,471
Cash and cash equivalents, beginning of period	104,775	78,716
Cash and cash equivalents, end of period	$102,245	$49,245

Basis_of_Presentation_and_Sign

Basis of Presentation and Significant Accounting Policies	6 Months Ended
	Mar. 31, 2015
Organization and Business
Basis of Presentation and Significant Accounting Policies
	Note 1. Basis of Presentation and Significant Accounting Principles
	The accompanying consolidated financial statements include the accounts of Wesco Aircraft Holdings, Inc., its wholly owned subsidiaries and equity interests (referred to herein as “Wesco” or the “Company”)  prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and with the instructions to Form 10-Q and Article 10 of Regulation S-X. The financial statements presented herein have not been audited by an independent registered public accounting firm, but include all material adjustments (consisting of normal recurring adjustments) which are, in the opinion of management, necessary for fair statement of the financial position, results of operations and cash flows for the period. However, these results are not necessarily indicative of results for any other interim period or for the full fiscal year. The preparation of financial statements in conformity with GAAP requires us to make certain estimates and assumptions for the reporting periods covered by the financial statements. These estimates and assumptions affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent liabilities. Actual amounts could differ from these estimates.
	Certain information and footnote disclosures normally included in financial statements in accordance with GAAP have been omitted pursuant to the rules of the Securities and Exchange Commission (“SEC”). The accompanying consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended September 30, 2014 filed with the SEC on December 1, 2014.

Recent_Accounting_Pronouncemen

Recent Accounting Pronouncements	6 Months Ended
	Mar. 31, 2015
Recent Accounting Pronouncements
Recent Accounting Pronouncements
	Note 2. Recent Accounting Pronouncements
	Changes to GAAP are established by the Financial Accounting Standards Board (“FASB”) in the form of Accounting Standards Updates (“ASUs”) to the FASB’s Accounting Standards Codification (“ASC”).
	The Company considers the applicability and impact of all ASUs. ASUs not listed below were assessed and determined to be either not applicable or are expected to have minimal impact on our consolidated financial position and results of operations.
	In April 2014, the FASB issued ASU 2014-08, Presentation of Financial Statements and Property, Plant, and Equipment, which addresses revised guidance on reporting discontinued operations. This revised guidance defines a discontinued operation as a disposal of a component or a group of components of an entity that represents a strategic shift that has (or will have) a major effect on the entity’s operations and financial results. ASU 2014-08 also requires additional disclosures for discontinued operations and new disclosures for individually material disposal transactions that do not meet the definition of a discontinued operation. ASU 2014-08 is effective for fiscal years beginning on or after December 15, 2014 and interim periods within those years, with earlier adoption permitted. The Company does not anticipate the adoption of ASU 2014-08 will have a significant impact on the Company’s consolidated financial statements.
	In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). ASU 2014-09 provides comprehensive guidance on the recognition of revenue from customers arising from the transfer of goods and services. ASU 2014-09 also provides guidance on accounting for certain contract costs, and requires new disclosures. ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early adoption is not permitted. The FASB has issued a proposal to defer the effective date of ASU 2014-09 by one year. The Company is currently evaluating the effect of the adoption of ASU 2014-09 on its consolidated financial statements and the implementation approach to be used.
	In June 2014, the FASB issued ASU 2014-12, Compensation—Stock Compensation (Topic 718): Accounting for Share-Based Payments when the Terms of an Award Provide that a Performance Target Could Be Achieved After the Requisite Service Period. ASU 2014-12 requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. ASU 2014-12 is effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Earlier adoption is permitted. Entities may apply ASU 2014-12 either prospectively to all awards granted or modified after the effective date or retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. If retrospective transition is adopted, the cumulative effect of applying this ASU as of the beginning of the earliest annual period presented in the financial statements should be recognized as an adjustment to the opening retained earnings balance at that date. Additionally, if retrospective transition is adopted, an entity may use hindsight in measuring and recognizing the compensation cost. The Company currently is evaluating the impact of the adoption of ASU 2014-12 on its financial statements and disclosures.
	In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern, which amends ASC Subtopic 205-40 to provide guidance about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related disclosures. Specifically, ASU 2014-15  (1) provides a definition of the term “substantial doubt,” (2) requires an evaluation every reporting period, (3) provides principles for considering the mitigating effect of management’s plans, (4) requires certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans, (5) requires an express statement and other disclosures when substantial doubt is not alleviated, and (6) requires an assessment for a period of one year after the date that financial statements are issued. ASU 2014-15 is effective for fiscal years ending after December 15, 2016, and for annual periods and interim periods thereafter. The Company does not anticipate the adoption of ASU 2014-15 will have a significant impact on the Company’s consolidated financial statements.
	In November 2014, the FASB issued ASU 2014-17, Business Combinations (Topic 805): Pushdown Accounting. ASU 2014-17 provides an acquired entity  with the option to apply pushdown accounting in its separate financial statements upon occurrence of an event in which an acquirer obtains control of the acquired entity. The election to apply pushdown accounting can be made either in the period in which the change of control occurred, or in a subsequent period. ASU 2014-17 is effective as of November 18, 2014. The Company will evaluate the effect of this standard in the event of a future business combination.
	In April 2015, the FASB issued ASU 2015-03, Interest — Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs.  The amendments in ASU 2015-03 are intended to simplify the presentation of debt issuance costs. These amendments require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in ASU 2015-03.  ASU 2105-03 is effective for annual reporting periods beginning after December 15, 2015, and interim periods within those fiscal years.  Early adoption is permitted for financial statements that have not been previously issued.  The Company currently is evaluating the impact of the adoption of ASU 2015-03 on its financial statements and disclosures.

Acquisitions

Acquisitions	6 Months Ended
	Mar. 31, 2015
Acquisitions
Acquisitions
	Note 3. Acquisitions
	2014 Acquisition
	On February 28, 2014, through its wholly owned subsidiary, Flyer Acquisition Corp, the Company acquired 100% of the outstanding shares of Haas Group Inc. (“Haas”), for a purchase price of $560,450, including the payment of an additional $250 in the three months ended December 31, 2014 as a result of a working capital adjustment.
	The acquisition of Haas was financed through a combination of a new $525,000 term loan B facility, cash on hand and drawings under our revolving line of credit. As a result of the acquisition, Haas became a wholly-owned subsidiary of the Company. The Company incurred transaction related costs of $6,700, and such costs were expensed as incurred.
	Haas is a provider of chemical supply chain management services to the commercial aerospace, airline, military, energy, and other markets, helping its customers reduce costs and comply with increasingly complex regulatory requirements for chemical usage. The acquisition of Haas expands the Company’s existing customer base and active stock-keeping units, while also providing the Company with opportunities to increase sales by leveraging and cross-selling into Wesco’s and Haas’ respective customer bases. In addition, we believe the addition of Haas’ proprietary information technology system (tcmIS), which interfaces directly with customer and supplier enterprise resource planning systems, and its experienced senior management team, will benefit Wesco going forward.
	The goodwill related to the Haas acquisition represents the value paid for assembled workforce, its international geographic presence and synergies expected to arise after the acquisition. None of the goodwill resulting from the Haas acquisition is deductible for income tax purposes. The goodwill is allocated based on each reporting unit’s results to the North America and the Rest of World segments.
	The Company revised  the purchase price allocation during the three months ended December 31, 2014 to reflect a $250 payment to Haas’ former owners as a result of a working capital adjustment.  This adjustment resulted in an increase to goodwill of $250. The preliminary fair values of assets acquired and liabilities assumed on the acquisition date and the final allocations were as follows:
		Preliminary			Final			Adjustment
	Current assets	$	195,351		$	191,232		$	(4,119	)
	Property and equipment	20,121			19,306			(815		)
	Other assets	13,061			11,061			(2,000		)
	Trademarks	15,200			16,100			900
	Customer relationships	77,400			97,400			20,000
	Technology	32,400			34,400			2,000
	Goodwill	316,311			299,289			(17,022		)
	Total assets acquired	669,844			668,788			(1,056		)
	Total liabilities assumed	(109,644		)	(108,338		)	1,306
	Purchase price, net of liabilities assumed	$	560,200		$	560,450		$	250
	The excess purchase price over the fair value of the net identifiable assets acquired was recorded as goodwill. The fair value assigned to the identifiable intangible assets acquired was based on an income approach method using assumptions and estimates derived by Company management. It was determined that the Haas trademark has a 15-year estimated useful life, customer relationships have a 15-year estimated useful life and Haas’ technology has a 10-year estimated useful life. Factors considered in the determination of useful lives include customer attrition rates, technology life cycles, and patent and trademark laws.
	The results of Haas since the acquisition have been included in the consolidated financial statements and are included in the North America and Rest of World segments based on actual results of the reporting units. Haas’ consolidated net sales and net earnings included in the consolidated financial statements for the three months ended March 31, 2015 were $149,812 and $1,640, respectively. Haas’ consolidated net sales and net earnings included in the consolidated financial statements for the six months ended March 31, 2015 were $295,145 and $586, respectively.  Haas’ consolidated net sales and net earnings included in the consolidated financial statements for the three months ended March 31, 2014 were $53,126 and $276, respectively. Haas’ consolidated net sales and net earnings included in the consolidated financial statements for the six months ended March 31, 2014 were $53,126 and $276, respectively.
	Pro Forma Consolidated Results
	The following pro forma information presents the financial results as if the acquisition of Haas had occurred on October 1, 2013. The pro forma results do not include any anticipated cost synergies, costs or other effects of the planned integration of the acquisition. Accordingly, such pro forma amounts are not necessarily indicative of the results that actually would have occurred had the acquisitions been completed on the dates indicated, nor are they indicative of the future operating results of the Company. We did not have any material, nonrecurring pro forma adjustments directly attributable to the business combination in the reported pro-forma net sales and earnings.
		Three Months Ended						Six Months Ended
		March 31,						March 31,
		2015			2014			2015			2014
	Pro forma net sales	$	385,559		$	424,743		$	759,255		$	787,743
	Pro forma net income attributable to Wesco Aircraft Holdings, Inc.	23,046			25,646			42,776			49,233
	Pro forma net income per common share amounts:
	Basic net income attributable to Wesco Aircraft Holdings, Inc.	$	0.24		$	0.27		$	0.44		$	0.52
	Diluted net income attributable to Wesco Aircraft Holdings, Inc.	$	0.24		$	0.26		$	0.44		$	0.51
	The financial results for the three and six months ended March 31, 2015 are actual results of the Company, as the acquisition of Haas was consummated on February 28, 2014.

Excess_and_Obsolescence_Reserv

Excess and Obsolescence Reserve Policy	6 Months Ended
	Mar. 31, 2015
Excess and Obsolescence Reserve Policy
Excess and Obsolescence Reserve Policy
	Note 4. Excess and Obsolescence Reserve Policy
	The Company performs a monthly inventory analysis and records excess and obsolescence reserves after weighing a number of factors, including historical sell-through rates, current selling and buying patterns, forecasted future sales, program delays or cancellations, inventory quantities and aging, shelf-life expirations, damage to products, rights we have with certain manufacturers to exchange unsold products for new products and open customer orders. These factors are described in greater detail below. For the Company’s chemical products, no reserve is recorded for items where the customer is responsible for any excess and obsolete product.
	As of March 31, 2015 and September 30, 2014, the Company’s excess and obsolete reserve was $154,543 and $143,736, respectively. Of these amounts, $8,941 and $6,666 was recorded during the six months ended March 31, 2015 and 2014, respectively. The Company believes that these amounts appropriately reflect the risk of excess and obsolete inventory inherent in its business. The excess and obsolescence reserve includes both excess and slow-moving inventory which typically includes inventory held by the Company after strategic purchases are made to take advantage of favorable pricing terms, speculative purchases based on current market trends or purchases timed to take supplier lead times into account, as well as inventory that is impacted by macro and micro-economic conditions and variability within specific customer programs.
	Excess and Slow-Moving Inventory
	Although the Company’s customers are not typically required to purchase a specific quantity of inventory, the Company is able to forecast future sales with a fair degree of precision by monitoring and tracking customers’ production cycles, which forecasting is taken into account when conducting the reserve analysis. The Company further notes that it is required to make commitments to purchase inventory based on manufacturer lead times, which may be up to two years. In addition, the Company may be entitled to obtain price breaks or discounts based on the quantity of inventory committed to purchase.
	Given the length of manufacturers’ lead times, the Company’s desire to obtain advantageous inventory pricing, the impact of macro and micro economic conditions, strategic purchases to take advantage of favorable pricing terms and variability within specific customer programs, inventory quantities may increase at a rate higher than the Company originally anticipated, which can impact the amount of excess and slow-moving inventory the Company holds.
	A majority of the products the Company sells can be sold across multiple aircraft platforms and the lifespan of the products the Company sells along with the design of the aircrafts that utilize those products is typically not subject to a high degree of obsolescence. Accordingly, since 2006 the Company has only disposed of $17,462 of its inventory. However, the Company may choose to dispose of certain slow-moving inventory in the future if it determines that the market and economics make it prudent to do so.  In addition, the Company’s chemical inventory becomes obsolete when it has aged past its shelf-life, cannot be recertified and is no longer usable or able to be sold, or the inventory has been damaged on-site or in-transit. In certain cases, as determined by the applicable contract, the customer is responsible for excess or obsolete chemical product, and in such instances, no reserve is recorded for the applicable product. Furthermore, the Company does take program delays and cancellations into account when conducting the reserve analysis.
	Based on the Company’s current analysis of these factors, in particular historical sales data, cycle times of programs, the multiple platforms on which individual products can be sold and customer buying patterns, as of March 31, 2015 the Company maintains an unreserved slow-moving inventory of $24,837, which it believes based on historical and anticipated sell through rates, will be sold over the next three years, and accordingly, has not recorded a reserve for those amounts. However, in the future, the Company may determine that it is necessary to reserve for a portion of this $24,837 of inventory.

Goodwill

Goodwill	6 Months Ended
	Mar. 31, 2015
Goodwill and Intangible Assets, net
Goodwill and Intangible Assets, net
	Note 5. Goodwill
	During the six months ended March 31, 2015, the Company recorded a $8,647 decrease to goodwill. The decrease is primarily a result of the strengthening of the U.S. dollar as compared to the British pound partially offset by an increase of $250 related to a working capital adjustment during the three months ended December 31, 2014.
	Goodwill consists of the following:
		North America		Rest of World			Total
	Goodwill as of September 30, 2014	$	779,395	$	82,180		$	861,575
	Adjustment to goodwill from Haas acquisition	187		63			250
	Foreign currency translation	45		(8,942		)	(8,897		)
	Goodwill as of March 31, 2015	$	779,627	$	73,301		$	852,928

Fair_Value_of_Financial_Instru

Fair Value of Financial Instruments	6 Months Ended
	Mar. 31, 2015
Fair Value of Financial Instruments
Fair Value of Financial Instruments
	Note 6. Fair Value of Financial Instruments
	The Company’s financial instruments consist of cash and cash equivalents, accounts receivable and payable, accrued expenses and other current liabilities, and a line of credit. The carrying amounts of these instruments approximate fair value because of their short-term maturities.  As of March 31, 2015 the carrying amounts of the $1,057,656 aggregate outstanding term loan balance approximated its fair value.  The fair value of the long-term debt instruments are determined using current applicable rates for similar instruments as of the balance sheet date (Level 2).

LongTerm_Debt

Long-Term Debt	6 Months Ended
	Mar. 31, 2015
Long-Term Debt
Long-Term Debt
	Note 7. Long-Term Debt
	Long-term debt consists of the following:
		March 31,			September 30,
		2015			2014
	$ 625,000 term loan A facility	$	547,094		$	550,781
	$ 525,000 term loan B facility	510,562			511,875
	$ 200,000 revolving facility	—			40,000
	Less: current portion	(43,187		)	(23,437		)
	Long-term debt	$	1,014,469		$	1,079,219
	The Company’s debt includes a $200,000 revolving facility and a $625,000 term loan A facility.  The revolving facility and the term loan A facility, which together we refer to as the existing senior secured credit facilities, mature on December 7, 2017.
	The existing senior secured credit facilities bear variable rates of interest and are indexed to the Company’s Consolidated Total Leverage Ratio (as such ratio is defined in the senior secured credit facilities (as defined below)) and subject to adjustment each reporting period based on operating results.  The applicable interest rate for the term loan A facility was 2.68% at March 31, 2015.
	On February 27, 2014, the Company borrowed $40,000 under its revolving facility to partially fund the acquisition of Haas.
	On February 28, 2014, the Company entered into the first amendment to the existing senior secured credit facilities, which amendment modified the existing senior secured credit facilities to provide an additional senior secured term loan B facility in the aggregate principal amount of $525,000, which together with the existing senior secured credit facilities we refer to as the senior secured credit facilities, to finance, in part, the acquisition of Haas.  The term loan B facility matures on February 28, 2021. The term loan B facility bears a variable rate of interest, which was 3.25% at March 31, 2015.
	As of March 31, 2015, the Company has made voluntary prepayments totaling $3,688 on the $625,000 term loan A facility and $9,188 on the $525,000 term loan B facility that have been applied to future required quarterly payments. As of March 31, 2015, there were no outstanding borrowings under the $200,000 revolving facility.
	The Company’s subsidiary, Wesco Aircraft Europe, Ltd, has available a £7,000 ($10,389 based on the March 31, 2015 exchange rate) line of credit that automatically renews annually on October 1. The line of credit bears interest based on the base rate plus an applicable margin of 1.65%. There were no outstanding borrowings under this line of credit as of March 31, 2015.
	The Company was in compliance with all covenants as of March 31, 2015.

Comprehensive_Income

Comprehensive Income	6 Months Ended
	Mar. 31, 2015
Comprehensive Income
Comprehensive Income
	Note 8. Comprehensive Income
	Comprehensive income consists of the following:
		Three Months Ended					Six Months Ended
		March 31,					March 31,
		2015			2014		2015			2014
	Net income	$	23,046		$	24,312	$	42,776		$	48,682
	Foreign currency exchange translation adjustment	(11,023		)	1,285		(22,672		)	705
	Total comprehensive income	$	12,023		$	25,597	$	20,104		$	49,387
	The changes in comprehensive income are primarily a result of the strengthening of the U.S. dollar as compared to the British pound.

Net_Income_Per_Share

Net Income Per Share	6 Months Ended
	Mar. 31, 2015
Net Income Per Share
Net Income Per Share
	Note 9. Net Income Per Share
	Basic net income per share is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted net income per share includes the dilutive effect of both outstanding stock options and restricted shares, calculated using the treasury stock method. Assumed proceeds from in-the-money awards include windfall tax benefits, net of shortfalls, calculated under the “as-if” method as prescribed by ASC 718, Compensation—Stock Compensation.
		Three Months Ended				Six Months Ended
		March 31,				March 31,
		2015		2014		2015		2014
	Net income	$	23,046	$	24,312	$	42,776	$	48,682
	Basic weighted average shares outstanding	96,907		95,584		96,885		95,223
	Dilutive effect of stock options and restricted stock awards/units	819		2,055		854		2,075
	Dilutive weighted average shares outstanding	97,726		97,639		97,739		97,298
	Basic net income per share	$	0.24	$	0.25	$	0.44	$	0.51
	Diluted net income per share	$	0.24	$	0.25	$	0.44	$	0.50
	There were 1,857 and 0 shares of common stock equivalents for the three months ended March 31, 2015 and 2014, respectively, that were not included in the diluted calculation due to their anti-dilutive effect.
	There were 1,580 and 0 shares of common stock equivalents for the six months ended March 31, 2015 and 2014, respectively, that were not included in the diluted calculation due to their anti-dilutive effect.

Segment_Reporting

Segment Reporting	6 Months Ended
	Mar. 31, 2015
Segment Reporting
Segment Reporting
	Note 10. Segment Reporting
	The Company is organized based on geographical location. The Company’s reportable segments are comprised of North America and Rest of World.
	The Company primarily evaluates segment performance based on segment income from operations. Each segment reports its results of operations and makes requests for capital expenditures and acquisition funding to the Company’s chief operating decision-maker (“CODM”). The Company’s interim chief executive officer served as CODM for the six months ended March 31, 2015.
	The following table presents operating and financial information by business segment:
		Three Months Ended March 31, 2015
		North		Rest of
		America		World		Consolidated
	Net sales	$	307,373	$	78,186	$	385,559
	Income from operations	36,528		7,789		44,317
	Interest expense, net	8,149		1,197		9,346
	Provision for income taxes	9,948		2,768		12,716
	Total assets	2,036,342		359,095		2,395,437
	Goodwill	779,627		73,301		852,928
	Capital expenditures	1,418		212		1,630
	Depreciation and amortization	5,662		1,018		6,680
		Three Months Ended March 31, 2014
		North		Rest of
		America		World		Consolidated
	Net sales	$	225,628	$	101,732	$	327,360
	Income from operations	26,068		16,454		42,522
	Interest expense, net	5,501		332		5,833
	Provision for income taxes	8,805		3,592		12,397
	Capital expenditures	1,186		134		1,320
	Depreciation and amortization	3,884		345		4,229
		Six Months Ended March 31, 2015
		North		Rest of
		America		World		Consolidated
	Net sales	$	603,098	$	156,157	$	759,255
	Income from operations	70,032		13,576		83,608
	Interest expense, net	16,191		2,528		18,719
	Provision for income taxes	18,456		4,696		23,152
	Capital expenditures	2,503		409		2,912
	Depreciation and amortization	11,154		2,108		13,262
		Six Months Ended March 31, 2014
		North		Rest of
		America		World		Consolidated
	Net sales	$	402,334	$	149,748	$	552,082
	Income from operations	59,358		23,777		83,135
	Interest expense, net	9,482		573		10,055
	Provision for income taxes	19,803		5,369		25,172
	Capital expenditures	2,925		248		3,173
	Depreciation and amortization	6,658		621		7,279

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies
Commitments and Contingencies
	Note 11. Commitments and Contingencies
	The Company is involved in various legal matters that arise in the normal course of its business. Management, after consulting with outside legal counsel, believes that the ultimate outcome of such matters will not have a material adverse effect on the Company’s business, financial position, results of operations or cash flows. There can be no assurance, however, that such actions will not be material or adversely affect the Company’s business, financial position, results of operations or cash flows.

Acquisitions_Tables

Acquisitions (Tables)	6 Months Ended
	Mar. 31, 2015
Acquisitions
Schedule of estimated fair values of assets acquired and liabilities assumed	The preliminary fair values of assets acquired and liabilities assumed on the acquisition date and the final allocations were as follows:
		Preliminary			Final			Adjustment
	Current assets	$	195,351		$	191,232		$	(4,119	)
	Property and equipment	20,121			19,306			(815		)
	Other assets	13,061			11,061			(2,000		)
	Trademarks	15,200			16,100			900
	Customer relationships	77,400			97,400			20,000
	Technology	32,400			34,400			2,000
	Goodwill	316,311			299,289			(17,022		)
	Total assets acquired	669,844			668,788			(1,056		)
	Total liabilities assumed	(109,644		)	(108,338		)	1,306
	Purchase price, net of liabilities assumed	$	560,200		$	560,450		$	250
Schedule of pro forma financial results of acquisition
		Three Months Ended						Six Months Ended
		March 31,						March 31,
		2015			2014			2015			2014
	Pro forma net sales	$	385,559		$	424,743		$	759,255		$	787,743
	Pro forma net income attributable to Wesco Aircraft Holdings, Inc.	23,046			25,646			42,776			49,233
	Pro forma net income per common share amounts:
	Basic net income attributable to Wesco Aircraft Holdings, Inc.	$	0.24		$	0.27		$	0.44		$	0.52
	Diluted net income attributable to Wesco Aircraft Holdings, Inc.	$	0.24		$	0.26		$	0.44		$	0.51

Goodwill_Tables

Goodwill (Tables)	6 Months Ended
	Mar. 31, 2015
Goodwill and Intangible Assets, net
Schedule of goodwill
		North America		Rest of World			Total
	Goodwill as of September 30, 2014	$	779,395	$	82,180		$	861,575
	Adjustment to goodwill from Haas acquisition	187		63			250
	Foreign currency translation	45		(8,942		)	(8,897		)
	Goodwill as of March 31, 2015	$	779,627	$	73,301		$	852,928

LongTerm_Debt_Tables

Long-Term Debt (Tables)	6 Months Ended
	Mar. 31, 2015
Long-Term Debt
Schedule of debt
		March 31,			September 30,
		2015			2014
	$ 625,000 term loan A facility	$	547,094		$	550,781
	$ 525,000 term loan B facility	510,562			511,875
	$ 200,000 revolving facility	—			40,000
	Less: current portion	(43,187		)	(23,437		)
	Long-term debt	$	1,014,469		$	1,079,219

Comprehensive_Income_Tables

Comprehensive Income (Tables)	6 Months Ended
	Mar. 31, 2015
Comprehensive Income
Schedule of comprehensive income
		Three Months Ended					Six Months Ended
		March 31,					March 31,
		2015			2014		2015			2014
	Net income	$	23,046		$	24,312	$	42,776		$	48,682
	Foreign currency exchange translation adjustment	(11,023		)	1,285		(22,672		)	705
	Total comprehensive income	$	12,023		$	25,597	$	20,104		$	49,387

Net_Income_Per_Share_Tables

Net Income Per Share (Tables)	6 Months Ended
	Mar. 31, 2015
Net Income Per Share
Schedule of net income per share
		Three Months Ended				Six Months Ended
		March 31,				March 31,
		2015		2014		2015		2014
	Net income	$	23,046	$	24,312	$	42,776	$	48,682
	Basic weighted average shares outstanding	96,907		95,584		96,885		95,223
	Dilutive effect of stock options and restricted stock awards/units	819		2,055		854		2,075
	Dilutive weighted average shares outstanding	97,726		97,639		97,739		97,298
	Basic net income per share	$	0.24	$	0.25	$	0.44	$	0.51
	Diluted net income per share	$	0.24	$	0.25	$	0.44	$	0.50

Segment_Reporting_Tables

Segment Reporting (Tables)	6 Months Ended
	Mar. 31, 2015
Segment Reporting
Schedule of net sales and other financial information by business segment
		Three Months Ended March 31, 2015
		North		Rest of
		America		World		Consolidated
	Net sales	$	307,373	$	78,186	$	385,559
	Income from operations	36,528		7,789		44,317
	Interest expense, net	8,149		1,197		9,346
	Provision for income taxes	9,948		2,768		12,716
	Total assets	2,036,342		359,095		2,395,437
	Goodwill	779,627		73,301		852,928
	Capital expenditures	1,418		212		1,630
	Depreciation and amortization	5,662		1,018		6,680
		Three Months Ended March 31, 2014
		North		Rest of
		America		World		Consolidated
	Net sales	$	225,628	$	101,732	$	327,360
	Income from operations	26,068		16,454		42,522
	Interest expense, net	5,501		332		5,833
	Provision for income taxes	8,805		3,592		12,397
	Capital expenditures	1,186		134		1,320
	Depreciation and amortization	3,884		345		4,229
		Six Months Ended March 31, 2015
		North		Rest of
		America		World		Consolidated
	Net sales	$	603,098	$	156,157	$	759,255
	Income from operations	70,032		13,576		83,608
	Interest expense, net	16,191		2,528		18,719
	Provision for income taxes	18,456		4,696		23,152
	Capital expenditures	2,503		409		2,912
	Depreciation and amortization	11,154		2,108		13,262
		Six Months Ended March 31, 2014
		North		Rest of
		America		World		Consolidated
	Net sales	$	402,334	$	149,748	$	552,082
	Income from operations	59,358		23,777		83,135
	Interest expense, net	9,482		573		10,055
	Provision for income taxes	19,803		5,369		25,172
	Capital expenditures	2,925		248		3,173
	Depreciation and amortization	6,658		621		7,279

Acquisitions_Details

Acquisitions (Details) (USD $)	3 Months Ended		6 Months Ended		0 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014	Feb. 28, 2014	Feb. 28, 2014	Sep. 30, 2014
Allocation of the balance sheet upon acquisition
Goodwill.	$852,928,000		$852,928,000				$861,575,000
Consolidated revenues	385,559,000	327,360,000	759,255,000	552,082,000
Net earnings	23,046,000	24,312,000	42,776,000	48,682,000
Unaudited pro forma information
Basic net income per share (in dollars per share)	$0.24	$0.25	$0.44	$0.51
Diluted net income per share (in dollars per share)	$0.24	$0.25	$0.44	$0.50
Haas Group Inc [Member]
Acquisitions
Purchase price of acquired assets					560,450,000
Long-term debt, face amount					525,000,000	525,000,000
Transaction related costs					6,700,000	6,700,000
Allocation of the balance sheet upon acquisition
Consolidated revenues	149,812,000	53,126,000	295,145,000	53,126,000
Net earnings	1,640,000	276,000	586,000	276,000
Unaudited pro forma information
Consolidated revenues	385,559,000	424,743,000	759,255,000	787,743,000
Net income (loss)	23,046,000	25,646,000	42,776,000	49,233,000
Basic net income per share (in dollars per share)	$0.24	$0.27	$0.44	$0.52
Diluted net income per share (in dollars per share)	$0.24	$0.26	$0.44	$0.51
Haas Group Inc [Member] | Trademarks [Member]
Allocation of the balance sheet upon acquisition
Estimated useful life						15 years
Haas Group Inc [Member] | Customer Relationships [Member]
Allocation of the balance sheet upon acquisition
Estimated useful life						15 years
Haas Group Inc [Member] | Technology Based Intangible Assets [Member]
Allocation of the balance sheet upon acquisition
Estimated useful life						10 years
Preliminary [Member] | Haas Group Inc [Member]
Allocation of the balance sheet upon acquisition
Current assets	195,351,000		195,351,000
Property and equipment	20,121,000		20,121,000
Other Assets	13,061,000		13,061,000
Goodwill.	316,311,000		316,311,000
Total assets acquired	669,844,000		669,844,000
Total liabilities assumed	-109,644,000		-109,644,000
Purchase price, net of liabilities assumed	560,200,000		560,200,000
Preliminary [Member] | Haas Group Inc [Member] | Trademarks [Member]
Allocation of the balance sheet upon acquisition
Identifiable Intangible assets	15,200,000		15,200,000
Preliminary [Member] | Haas Group Inc [Member] | Customer Relationships [Member]
Allocation of the balance sheet upon acquisition
Identifiable Intangible assets	77,400,000		77,400,000
Preliminary [Member] | Haas Group Inc [Member] | Technology Based Intangible Assets [Member]
Allocation of the balance sheet upon acquisition
Identifiable Intangible assets	32,400,000		32,400,000
Final [Member] | Haas Group Inc [Member]
Allocation of the balance sheet upon acquisition
Current assets	191,232,000		191,232,000
Property and equipment	19,306,000		19,306,000
Other Assets	11,061,000		11,061,000
Goodwill.	299,289,000		299,289,000
Total assets acquired	668,788,000		668,788,000
Total liabilities assumed	-108,338,000		-108,338,000
Purchase price, net of liabilities assumed	560,450,000		560,450,000
Final [Member] | Haas Group Inc [Member] | Trademarks [Member]
Allocation of the balance sheet upon acquisition
Identifiable Intangible assets	16,100,000		16,100,000
Final [Member] | Haas Group Inc [Member] | Customer Relationships [Member]
Allocation of the balance sheet upon acquisition
Identifiable Intangible assets	97,400,000		97,400,000
Final [Member] | Haas Group Inc [Member] | Technology Based Intangible Assets [Member]
Allocation of the balance sheet upon acquisition
Identifiable Intangible assets	34,400,000		34,400,000
Adjustment [Member] | Haas Group Inc [Member]
Acquisitions
Purchase price of acquired assets			250,000
Allocation of the balance sheet upon acquisition
Current assets	-4,119,000		-4,119,000
Property and equipment	-815,000		-815,000
Other Assets	-2,000,000		-2,000,000
Goodwill.	-17,022,000		-17,022,000
Total assets acquired	-1,056,000		-1,056,000
Total liabilities assumed	1,306,000		1,306,000
Purchase price, net of liabilities assumed	250,000		250,000
Adjustment [Member] | Haas Group Inc [Member] | Trademarks [Member]
Allocation of the balance sheet upon acquisition
Identifiable Intangible assets	900,000		900,000
Adjustment [Member] | Haas Group Inc [Member] | Customer Relationships [Member]
Allocation of the balance sheet upon acquisition
Identifiable Intangible assets	20,000,000		20,000,000
Adjustment [Member] | Haas Group Inc [Member] | Technology Based Intangible Assets [Member]
Allocation of the balance sheet upon acquisition
Identifiable Intangible assets	$2,000,000		$2,000,000

Excess_and_Obsolescence_Reserv1

Excess and Obsolescence Reserve Policy (Details) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Sep. 30, 2014
Excess and Obsolescence Reserve Policy
Excess and obsolete reserve	$154,543		$143,736
Excess or obsolete chemical inventory reserve	0
Amount of excess and obsolete reserve recorded	8,941	6,666
Maximum manufacturer lead time for commitment to purchase inventory	2 years
Disposed of inventory since 2006	17,462
Slow-moving inventory left unreserved	$24,837
Period over which unreserved slow-moving inventory will be sold	3 years

Goodwill_Details

Goodwill (Details) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015
Change in goodwill
Beginning balance	$861,575
Foreign currency translation	-8,897
Adjustment to goodwill from Haas acquisition	250
Ending balance	852,928
Decrease in goodwill during the period	8,647
North America [Member]
Change in goodwill
Beginning balance	779,395
Foreign currency translation	45
Adjustment to goodwill from Haas acquisition	187
Ending balance	779,627
Rest Of World Segment [Member]
Change in goodwill
Beginning balance	82,180
Foreign currency translation	-8,942
Adjustment to goodwill from Haas acquisition	63
Ending balance	$73,301

Fair_Value_of_Financial_Instru1

Fair Value of Financial Instruments (Details) (USD $)	Mar. 31, 2015	Sep. 30, 2014
In Thousands, unless otherwise specified
Fair value of financial instruments
Long-term debt	$1,014,469	$1,079,219
Carrying Reported Amount Fair Value Disclosure [Member] | Term Loans Due Dec2017and Feb2021 [Member]
Fair value of financial instruments
Long-term debt	$1,057,656

LongTerm_Debt_Details

Long-Term Debt (Details)	Mar. 31, 2015	Sep. 30, 2014	Mar. 31, 2015	Sep. 30, 2014	Mar. 31, 2015	Mar. 31, 2015	Sep. 30, 2014	Mar. 31, 2015	Sep. 30, 2014	Mar. 31, 2015	Mar. 31, 2015
	USD ($)	USD ($)	Revolving Credit Facility [Member]	Revolving Credit Facility [Member]	Revolving Credit Facility [Member]	Term Loan Due December2017 [Member]	Term Loan Due December2017 [Member]	Term Loan Due February2021 [Member]	Term Loan Due February2021 [Member]	Foreign Line Of Credit [Member]	Foreign Line Of Credit [Member]
			USD ($)	USD ($)	Amendment And Restatement Of Credit Agreement [Member]	USD ($)	USD ($)	USD ($)	USD ($)	Wesco Aircraft Europe Limited [Member]	Wesco Aircraft Europe Limited [Member]
					USD ($)					USD ($)	GBP (£)
Long-Term Debt
Principal amount						$625,000,000		$525,000,000
Applicable margin rate (as a percent)										1.65%	1.65%
Interest rate at end of period (as a percent)						2.68%		3.25%
Long-term debt, current and noncurrent						547,094,000	550,781,000	510,562,000	511,875,000
Less: Current portion	43,187,000	23,437,000
Long-term debt	1,014,469,000	1,079,219,000
Revolving line of credit					200,000,000					10,389,000	7,000,000
Voluntary prepayment of debt						3,688,000		9,188,000
Net outstanding borrowing amount under line of credit			$0	$40,000,000						$0

Comprehensive_Income_Details

Comprehensive Income (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Comprehensive Income
Net income	$23,046	$24,312	$42,776	$48,682
Foreign currency exchange translation adjustment	-11,023	1,285	-22,672	705
Comprehensive income	$12,023	$25,597	$20,104	$49,387

Net_Income_Per_Share_Details

Net Income Per Share (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Net Income Per Share
Net income	$23,046	$24,312	$42,776	$48,682
Basic weighted average shares outstanding	96,907,000	95,584,000	96,885,000	95,223,000
Dilutive effect of stock options and restricted stock awards/units (in shares)	819,000	2,055,000	854,000	2,075,000
Dilutive weighted average shares outstanding	97,726,000	97,639,000	97,739,000	97,298,000
Basic net income per share (in dollars per share)	$0.24	$0.25	$0.44	$0.51
Diluted net income per share (in dollars per share)	$0.24	$0.25	$0.44	$0.50
Common stock equivalents not included in diluted calculation due to anti-dilutive effect (in shares)	1,857	0	1,580	0

Segment_Reporting_Details

Segment Reporting (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014	Sep. 30, 2014
Segment Reporting
Net sales	$385,559	$327,360	$759,255	$552,082
Income from operations	44,317	42,522	83,608	83,135
Interest expense, net	9,346	5,833	18,719	10,055
Provision for income taxes	12,716	12,397	23,152	25,172
Total assets	2,395,437		2,395,437		2,412,274
Goodwill	852,928		852,928		861,575
Capital expenditures	1,630	1,320	2,912	3,173
Depreciation and amortization	6,680	4,229	13,262	7,279
North America [Member]
Segment Reporting
Net sales	307,373	225,628	603,098	402,334
Income from operations	36,528	26,068	70,032	59,358
Interest expense, net	8,149	5,501	16,191	9,482
Provision for income taxes	9,948	8,805	18,456	19,803
Total assets	2,036,342		2,036,342
Goodwill	779,627		779,627
Capital expenditures	1,418	1,186	2,503	2,925
Depreciation and amortization	5,662	3,884	11,154	6,658
Rest Of World Segment [Member]
Segment Reporting
Net sales	78,186	101,732	156,157	149,748
Income from operations	7,789	16,454	13,576	23,777
Interest expense, net	1,197	332	2,528	573
Provision for income taxes	2,768	3,592	4,696	5,369
Total assets	359,095		359,095
Goodwill	73,301		73,301
Capital expenditures	212	134	409	248
Depreciation and amortization	$1,018	$345	$2,108	$621