10-Q Filing

AIR T INC CIK: 353184 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0000353184-20-000047`
Period End Date	20200630
Filing Date	20200814
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	airt-20200630_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 106 Income Statement 56 Cash Flow Statement 78 Stockholders Equity 20 Comprehensive Income 16

Balance Sheet 106 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$680.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$913.00K	USD	Point-in-time
Assets on lease, accumulated depreciation	`FinanceLeaseRightOfUseAssetAccumulatedAmortization`	$6.53M	USD	Point-in-time
Assets on lease, accumulated depreciation	`FinanceLeaseRightOfUseAssetAccumulatedAmortization`	$6.10M	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$4.32M	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$4.45M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.09M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.95M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$2.85M	USD	Point-in-time
Intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$2.38M	USD	Point-in-time
Intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$2.25M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$1.68M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$9.56M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$9.62M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Restricted investments	`RestrictedInvestmentsCurrent`	$1.08M	USD	Point-in-time
Restricted investments	`RestrictedInvestmentsCurrent`	$1.04M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50,000.00	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50,000.00	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $913 and $680	`AccountsReceivableNetCurrent`	$10.27M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.25	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $913 and $680	`AccountsReceivableNetCurrent`	$13.08M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.25	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$1.17M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	4.00M	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$1.47M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	4.00M	shares	Point-in-time
Inventories, net	`InventoryNet`	$63.88M	USD	Point-in-time
Inventories, net	`InventoryNet`	$60.62M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	3.02M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	3.02M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	2.88M	shares	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.28M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	2.88M	shares	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$7.45M	USD	Point-in-time
Treasury stock (shares)	`TreasuryStockShares`	140,892.00	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$98.49M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$103.62M	USD	Point-in-time
Treasury stock (shares)	`TreasuryStockShares`	140,892.00	shares	Point-in-time
Treasury stock, average price per share (in dollars per share)	`TreasuryStockAveragePricePerShare`	$18.58	USD	Point-in-time
Asset on lease or held for lease, net of accumulated depreciation of $6,102 and $6,526	`FinanceLeaseRightOfUseAsset`	$27.95M	USD	Point-in-time
Treasury stock, average price per share (in dollars per share)	`TreasuryStockAveragePricePerShare`	$18.58	USD	Point-in-time
Asset on lease or held for lease, net of accumulated depreciation of $6,102 and $6,526	`FinanceLeaseRightOfUseAsset`	$25.32M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $4,454 and $4,319	`PropertyPlantAndEquipmentNet`	$5.27M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $4,454 and $4,319	`PropertyPlantAndEquipmentNet`	$5.19M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$8.12M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$7.85M	USD	Point-in-time
Investments in securities	`AvailableForSaleSecuritiesDebtSecurities`	$815.00K	USD	Point-in-time
Investments in securities	`AvailableForSaleSecuritiesDebtSecurities`	$783.00K	USD	Point-in-time
Equity method investments	`EquityMethodInvestments`	$4.65M	USD	Point-in-time
Equity method investments	`EquityMethodInvestments`	$5.21M	USD	Point-in-time
Intangible assets, net of accumulated amortization of $2,245 and $2,380	`IntangibleAssetsNetExcludingGoodwill`	$749.00K	USD	Point-in-time
Intangible assets, net of accumulated amortization of $2,245 and $2,380	`IntangibleAssetsNetExcludingGoodwill`	$878.00K	USD	Point-in-time
Goodwill	`Goodwill`	$4.23M	USD	Point-in-time
Goodwill	`Goodwill`	$4.23M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$626.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$609.00K	USD	Point-in-time
Total Assets	`Assets`	$151.43M	USD	Point-in-time
Total Assets	`Assets`	$153.15M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.72M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$10.86M	USD	Point-in-time
Accrued expenses and other (Note 4)	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$13.02M	USD	Point-in-time
Accrued expenses and other (Note 4)	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$13.99M	USD	Point-in-time
Current portion of long-term debt	`LinesOfCreditCurrent`	$42.68M	USD	Point-in-time
Current portion of long-term debt	`LinesOfCreditCurrent`	$37.25M	USD	Point-in-time
Short-term lease liability	`OperatingLeaseLiabilityCurrent`	$1.17M	USD	Point-in-time
Short-term lease liability	`OperatingLeaseLiabilityCurrent`	$1.19M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$67.75M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$60.16M	USD	Point-in-time
Long-term debt	`LongTermLineOfCredit`	$53.70M	USD	Point-in-time
Long-term debt	`LongTermLineOfCredit`	$43.14M	USD	Point-in-time
Deferred income tax liabilities, net	`DeferredIncomeTaxLiabilitiesNet`	$579.00K	USD	Point-in-time
Deferred income tax liabilities, net	`DeferredIncomeTaxLiabilitiesNet`	$572.00K	USD	Point-in-time
Long-term lease liability	`OperatingLeaseLiabilityNoncurrent`	$7.47M	USD	Point-in-time
Long-term lease liability	`OperatingLeaseLiabilityNoncurrent`	$7.24M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$1.44M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$1.40M	USD	Point-in-time
Total Liabilities	`Liabilities`	$123.11M	USD	Point-in-time
Total Liabilities	`Liabilities`	$120.34M	USD	Point-in-time
Redeemable non-controlling interest	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$6.08M	USD	Point-in-time
Redeemable non-controlling interest	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$5.54M	USD	Point-in-time
Commitments and contingencies (Note 15)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 15)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $1.00 par value, 50,000 shares authorized	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $1.00 par value, 50,000 shares authorized	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $.25 par value; 4,000,000 shares authorized, 3,022,745 shares issued, 2,881,853 shares outstanding	`CommonStockValue`	$756.00K	USD	Point-in-time
Common stock, $.25 par value; 4,000,000 shares authorized, 3,022,745 shares issued, 2,881,853 shares outstanding	`CommonStockValue`	$756.00K	USD	Point-in-time
Treasury stock, 140,892 shares at $18.58	`TreasuryStockValue`	$2.62M	USD	Point-in-time
Treasury stock, 140,892 shares at $18.58	`TreasuryStockValue`	$2.62M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.64M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$3.06M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$23.77M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$22.93M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-630.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-537.00K	USD	Point-in-time
Total Air T, Inc. Stockholders' Equity	`StockholdersEquity`	$23.50M	USD	Point-in-time
Total Air T, Inc. Stockholders' Equity	`StockholdersEquity`	$24.01M	USD	Point-in-time
Non-controlling Interests	`MinorityInterest`	$1.00M	USD	Point-in-time
Non-controlling Interests	`MinorityInterest`	$1.00M	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$23.36M	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$20.99M	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.01M	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$24.50M	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$151.43M	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$153.15M	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Total revenue	`Revenues`	$47.19M	USD	1 Quarter
Total revenue	`Revenues`	$36.97M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$7.53M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$9.67M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$1.94M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$609.00K	USD	1 Quarter
Impairment of property and equipment	`AssetImpairmentCharges`	$7.00K	USD	1 Quarter
Impairment of property and equipment	`AssetImpairmentCharges`	-	USD	1 Quarter
Gain on sale of property and equipment	`GainLossOnDispositionOfAssets`	$2.00K	USD	1 Quarter
Gain on sale of property and equipment	`GainLossOnDispositionOfAssets`	$4.00K	USD	1 Quarter
Operating Expenses	`OperatingExpenses`	$37.24M	USD	1 Quarter
Operating Expenses	`OperatingExpenses`	$46.19M	USD	1 Quarter
Operating (Loss) Income from Continuing Operations	`OperatingIncomeLoss`	$-266.00K	USD	1 Quarter
Operating (Loss) Income from Continuing Operations	`OperatingIncomeLoss`	$998.00K	USD	1 Quarter
Other-than-temporary impairment loss on investments	`ImpairmentOfInvestments`	-	USD	1 Quarter
Other-than-temporary impairment loss on investments	`ImpairmentOfInvestments`	$815.00K	USD	1 Quarter
Interest expense and other	`InterestExpense`	$1.16M	USD	1 Quarter
Interest expense and other	`InterestExpense`	$1.02M	USD	1 Quarter
Gain on settlement of bankruptcy	`GainOnSettlementOfBankruptcy`	-	USD	1 Quarter
Gain on settlement of bankruptcy	`GainOnSettlementOfBankruptcy`	$4.51M	USD	1 Quarter
Income (Loss) from Equity Method Investments	`IncomeLossFromEquityMethodInvestments`	$-321.00K	USD	1 Quarter
Income (Loss) from Equity Method Investments	`IncomeLossFromEquityMethodInvestments`	$-558.00K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$271.00K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$729.00K	USD	1 Quarter
Non-operating income (expense)	`NonoperatingIncomeExpense`	$2.62M	USD	1 Quarter
Non-operating income (expense)	`NonoperatingIncomeExpense`	$-990.00K	USD	1 Quarter
(Loss) Income from Continuing Operations Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.62M	USD	1 Quarter
(Loss) Income from Continuing Operations Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.26M	USD	1 Quarter
Income Taxes (Benefit)	`IncomeTaxExpenseBenefit`	$-300.00K	USD	1 Quarter
Income Taxes (Benefit)	`IncomeTaxExpenseBenefit`	$-377.00K	USD	1 Quarter
Net (Loss) Income from Continuing Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$4.00M	USD	1 Quarter
Net (Loss) Income from Continuing Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-956.00K	USD	1 Quarter
Income from Discontinued Operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTax`	-	USD	1 Quarter
Income from Discontinued Operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$161.00K	USD	1 Quarter
Net (Loss) Income	`ProfitLoss`	$-956.00K	USD	1 Quarter
Net (Loss) Income	`ProfitLoss`	$4.16M	USD	1 Quarter
Net loss (income) from continuing operations attributable to non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-115.00K	USD	1 Quarter
Net loss (income) from continuing operations attributable to non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$2.37M	USD	1 Quarter
Net (Loss) Income Attributable to Air T, Inc. Stockholders	`NetIncomeLoss`	$-841.00K	USD	1 Quarter
Net (Loss) Income Attributable to Air T, Inc. Stockholders	`NetIncomeLoss`	$1.78M	USD	1 Quarter
Basic (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.29	USD	1 Quarter
Basic (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.72	USD	1 Quarter
Diluted (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.72	USD	1 Quarter
Diluted (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$-0.29	USD	1 Quarter
Basic (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$0.07	USD	1 Quarter
Basic (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	-	USD	1 Quarter
Diluted (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	$0.07	USD	1 Quarter
Diluted (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	-	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.29	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.79	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.79	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.29	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.25M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.88M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.88M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.26M	shares	1 Quarter

Cash Flow Statement 78 line items

Line Item	Tag	Value	Unit	Period
Net (Loss) Income	`ProfitLoss`	$-956.00K	USD	1 Quarter
Net (Loss) Income	`ProfitLoss`	$4.16M	USD	1 Quarter
Less: Income from discontinued operations, net of income tax	`IncomeLossFromDiscontinuedOperationsNetOfTax`	-	USD	1 Quarter
Less: Income from discontinued operations, net of income tax	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$161.00K	USD	1 Quarter
Net (loss) income from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$4.00M	USD	1 Quarter
Net (loss) income from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-956.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.95M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$609.00K	USD	1 Quarter
Impairment of investment	`EquityMethodInvestmentOtherThanTemporaryImpairment`	$815.00K	USD	1 Quarter
Impairment of investment	`EquityMethodInvestmentOtherThanTemporaryImpairment`	-	USD	1 Quarter
Gain on settlement of bankruptcy	`GainOnSettlementOfBankruptcy`	-	USD	1 Quarter
Gain on settlement of bankruptcy	`GainOnSettlementOfBankruptcy`	$4.51M	USD	1 Quarter
Bargain purchase acquisition gain	`BusinessCombinationBargainPurchaseGainRecognizedAmountNet`	-	USD	1 Quarter
Bargain purchase acquisition gain	`BusinessCombinationBargainPurchaseGainRecognizedAmountNet`	$34.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-369.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-378.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.57M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$4.47M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-2.40M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$663.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.54M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-3.14M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$971.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$3.83M	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$2.04M	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$3.09M	USD	1 Quarter
Net cash (used in) provided by operating activities - continuing operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$4.84M	USD	1 Quarter
Net cash (used in) provided by operating activities - continuing operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-3.33M	USD	1 Quarter
Net cash provided by operating activities - discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$546.00K	USD	1 Quarter
Net cash provided by operating activities - discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	-	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.33M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.39M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$27.00K	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$482.00K	USD	1 Quarter
Sale of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$658.00K	USD	1 Quarter
Sale of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$309.00K	USD	1 Quarter
Acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$500.00K	USD	1 Quarter
Capital expenditures related to property & equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$250.00K	USD	1 Quarter
Capital expenditures related to property & equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$586.00K	USD	1 Quarter
Capital expenditures related to assets on lease or held for lease	`PaymentsRelatedToAssetsOnLease`	$60.00K	USD	1 Quarter
Capital expenditures related to assets on lease or held for lease	`PaymentsRelatedToAssetsOnLease`	$3.30M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-34.00K	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$78.00K	USD	1 Quarter
Net cash used in investing activities - continuing operations	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-3.73M	USD	1 Quarter
Net cash used in investing activities - continuing operations	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-548.00K	USD	1 Quarter
Net cash used in investing activities - discontinued operations	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	$-48.00K	USD	1 Quarter
Net cash used in investing activities - discontinued operations	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-548.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.78M	USD	1 Quarter
Proceeds from lines of credit	`ProceedsFromLinesOfCredit`	$24.45M	USD	1 Quarter
Proceeds from lines of credit	`ProceedsFromLinesOfCredit`	$8.01M	USD	1 Quarter
Payments on lines of credit	`RepaymentsOfLinesOfCredit`	$18.20M	USD	1 Quarter
Payments on lines of credit	`RepaymentsOfLinesOfCredit`	$17.14M	USD	1 Quarter
Proceeds from term loan	`ProceedsFromIssuanceOfLongTermDebt`	$9.48M	USD	1 Quarter
Proceeds from term loan	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	1 Quarter
Proceeds from Payroll Protection Program loan ("PPP loan")	`ProceedsFromNotesPayable`	$8.21M	USD	1 Quarter
Proceeds from Payroll Protection Program loan ("PPP loan")	`ProceedsFromNotesPayable`	-	USD	1 Quarter
Payments on term loan	`RepaymentsOfLongTermDebt`	$7.03M	USD	1 Quarter
Payments on term loan	`RepaymentsOfLongTermDebt`	$2.44M	USD	1 Quarter
Proceeds received from issuance of TruPs	`ProceedsFromWarrantExercises`	$2.02M	USD	1 Quarter
Proceeds received from issuance of TruPs	`ProceedsFromWarrantExercises`	-	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-17.00K	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-288.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.01M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.04M	USD	1 Quarter
Effect of foreign currency exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.00K	USD	1 Quarter
Effect of foreign currency exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-72.00K	USD	1 Quarter
NET INCREASE/ (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.08M	USD	1 Quarter
NET INCREASE/ (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$3.62M	USD	1 Quarter
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$16.66M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$12.65M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$16.27M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$15.57M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$16.66M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$12.65M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$16.27M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$15.57M	USD	Point-in-time

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$23.36M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$20.99M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.01M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$24.50M	USD	Point-in-time
Net income	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$3.82M	USD	1 Quarter
Net income	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-846.00K	USD	1 Quarter
Repurchase of Common Stock	`StockRepurchasedAndRetiredDuringPeriodValue`	$126.00K	USD	1 Quarter
Stock Split	`AdjustmentsToAdditionalPaidInCapitalStockSplit`	-	USD	1 Quarter
Issuance of Debt - Trust Preferred Securities	`StockholdersEquityIssuanceOfDebt`	$4.00M	USD	1 Quarter
Issuance of Warrants	`WarrantDownRoundFeatureIncreaseDecreaseInEquityAmount`	$840.00K	USD	1 Quarter
Unrealized loss on interest rate swaps, net of tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$-26.00K	USD	1 Quarter
Unrealized loss on interest rate swaps, net of tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$-176.00K	USD	1 Quarter
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-18.00K	USD	1 Quarter
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-67.00K	USD	1 Quarter
Adjustment to fair value of redeemable non-controlling interest	`NetIncomeLossAttributableToRedeemableNoncontrollingInterest`	$985.00K	USD	1 Quarter
Adjustment to fair value of redeemable non-controlling interest	`NetIncomeLossAttributableToRedeemableNoncontrollingInterest`	$-429.00K	USD	1 Quarter
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$23.36M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$20.99M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.01M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$24.50M	USD	Point-in-time

Comprehensive Income 16 line items

Line Item	Tag	Value	Unit	Period
Unrealized loss on interest rate swaps, tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax`	$-7.00K	USD	1 Quarter
Net (Loss) Income	`ProfitLoss`	$-956.00K	USD	1 Quarter
Net (Loss) Income	`ProfitLoss`	$4.16M	USD	1 Quarter
Unrealized loss on interest rate swaps, tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax`	$-52.00K	USD	1 Quarter
Foreign currency translation loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-18.00K	USD	1 Quarter
Foreign currency translation loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-67.00K	USD	1 Quarter
Unrealized loss on interest rate swaps, net of tax of $7 and $52 respectively	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$-26.00K	USD	1 Quarter
Unrealized loss on interest rate swaps, net of tax of $7 and $52 respectively	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$-176.00K	USD	1 Quarter
Total Other Comprehensive Loss	`OtherComprehensiveIncomeLossNetOfTax`	$-93.00K	USD	1 Quarter
Total Other Comprehensive Loss	`OtherComprehensiveIncomeLossNetOfTax`	$-194.00K	USD	1 Quarter
Total Comprehensive (Loss) Income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$3.96M	USD	1 Quarter
Total Comprehensive (Loss) Income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-1.05M	USD	1 Quarter
Comprehensive Loss (Income) Attributable to Non-controlling Interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-115.00K	USD	1 Quarter
Comprehensive Loss (Income) Attributable to Non-controlling Interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$2.39M	USD	1 Quarter
Comprehensive (Loss) Income Attributable to Air T, Inc. Stockholders	`ComprehensiveIncomeNetOfTax`	$1.58M	USD	1 Quarter
Comprehensive (Loss) Income Attributable to Air T, Inc. Stockholders	`ComprehensiveIncomeNetOfTax`	$-934.00K	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.