10-Q Filing

AIR T INC CIK: 353184 Q2 2022

Filing Information

Form Type	10-Q
Accession Number	`0000353184-21-000102`
Period End Date	20210930
Filing Date	20211112
Fiscal Year	2022
Fiscal Period	Q2
XBRL Instance	airt-20210930_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 104 Income Statement 104 Cash Flow Statement 76 Stockholders Equity 35 Comprehensive Income 36

Balance Sheet 104 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.50M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.18M	USD	Point-in-time
Assets on lease, accumulated depreciation	`FinanceLeaseRightOfUseAssetAccumulatedAmortization`	$436.00K	USD	Point-in-time
Assets on lease, accumulated depreciation	`FinanceLeaseRightOfUseAssetAccumulatedAmortization`	$597.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.47M	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$4.51M	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$4.87M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.00M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$1.41M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$2.70M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$4.93M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50,000.00	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$3.80M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50,000.00	shares	Point-in-time
Common stock par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.25	USD	Point-in-time
Common stock par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.25	USD	Point-in-time
Restricted investments	`RestrictedInvestmentsCurrent`	$849.00K	USD	Point-in-time
Restricted investments	`RestrictedInvestmentsCurrent`	$1.51M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	4.00M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,500 and $1,177	`AccountsReceivableNetCurrent`	$6.50M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	4.00M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,500 and $1,177	`AccountsReceivableNetCurrent`	$16.82M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$4.44M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	3.02M	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$4.39M	USD	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
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	2.88M	shares	Point-in-time
Inventories, net	`InventoryNet`	$82.59M	USD	Point-in-time
Inventories, net	`InventoryNet`	$71.97M	USD	Point-in-time
Treasury stock (in shares)	`TreasuryStockShares`	140,892.00	shares	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.07M	USD	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.34M	USD	Point-in-time
Treasury stock (in shares)	`TreasuryStockShares`	140,892.00	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$119.02M	USD	Point-in-time
Treasury stock average price (in dollars per share)	`TreasuryStockAveragePricePerShare`	$18.58	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$105.77M	USD	Point-in-time
Treasury stock average price (in dollars per share)	`TreasuryStockAveragePricePerShare`	$18.58	USD	Point-in-time
Assets on lease or held for lease, net of accumulated depreciation of $597 and $436	`FinanceLeaseRightOfUseAsset`	$1.68M	USD	Point-in-time
Assets on lease or held for lease, net of accumulated depreciation of $597 and $436	`FinanceLeaseRightOfUseAsset`	$2.13M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $4,866 and $4,510	`PropertyPlantAndEquipmentNet`	$8.91M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $4,866 and $4,510	`PropertyPlantAndEquipmentNet`	$8.52M	USD	Point-in-time
Right-of-use ("ROU") assets	`OperatingLeaseRightOfUseAsset`	$7.74M	USD	Point-in-time
Right-of-use ("ROU") assets	`OperatingLeaseRightOfUseAsset`	$7.76M	USD	Point-in-time
Equity method investments	`EquityMethodInvestments`	$5.66M	USD	Point-in-time
Equity method investments	`EquityMethodInvestments`	$4.47M	USD	Point-in-time
Goodwill	`Goodwill`	$4.23M	USD	Point-in-time
Goodwill	`Goodwill`	$4.23M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$7.87M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$8.40M	USD	Point-in-time
Total Assets	`Assets`	$155.63M	USD	Point-in-time
Total Assets	`Assets`	$140.75M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$11.05M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.34M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$39.00K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Accrued expenses and other (Note 3)	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$8.42M	USD	Point-in-time
Accrued expenses and other (Note 3)	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$12.79M	USD	Point-in-time
Current portion of long-term debt	`LinesOfCreditCurrent`	$5.64M	USD	Point-in-time
Current portion of long-term debt	`LinesOfCreditCurrent`	$1.32M	USD	Point-in-time
Short-term lease liability	`OperatingLeaseLiabilityCurrent`	$1.37M	USD	Point-in-time
Short-term lease liability	`OperatingLeaseLiabilityCurrent`	$1.43M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$28.18M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$22.22M	USD	Point-in-time
Long-term debt	`LongTermLineOfCredit`	$81.86M	USD	Point-in-time
Long-term debt	`LongTermLineOfCredit`	$93.36M	USD	Point-in-time
Deferred income tax liabilities, net	`DeferredIncomeTaxLiabilitiesNet`	$606.00K	USD	Point-in-time
Deferred income tax liabilities, net	`DeferredIncomeTaxLiabilitiesNet`	$595.00K	USD	Point-in-time
Long-term lease liability	`OperatingLeaseLiabilityNoncurrent`	$7.05M	USD	Point-in-time
Long-term lease liability	`OperatingLeaseLiabilityNoncurrent`	$7.08M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$1.73M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$2.12M	USD	Point-in-time
Total Liabilities	`Liabilities`	$119.44M	USD	Point-in-time
Total Liabilities	`Liabilities`	$125.37M	USD	Point-in-time
Redeemable non-controlling interest	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$7.28M	USD	Point-in-time
Redeemable non-controlling interest	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$6.60M	USD	Point-in-time
Commitments and contingencies (Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 13)	`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`	$236.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	-	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$24.06M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$16.27M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-684.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-576.00K	USD	Point-in-time
Total Air T, Inc. Stockholders' Equity	`StockholdersEquity`	$21.86M	USD	Point-in-time
Total Air T, Inc. Stockholders' Equity	`StockholdersEquity`	$13.72M	USD	Point-in-time
Non-controlling Interests	`MinorityInterest`	$1.13M	USD	Point-in-time
Non-controlling Interests	`MinorityInterest`	$989.00K	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$22.99M	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$20.67M	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.01M	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$14.71M	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$14.88M	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$24.50M	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$140.75M	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$155.63M	USD	Point-in-time

Income Statement 104 line items

Line Item	Tag	Value	Unit	Period
Total revenue	`Revenues`	$80.21M	USD	2 Qtrs
Total revenue	`Revenues`	$72.58M	USD	2 Qtrs
Total revenue	`Revenues`	$43.24M	USD	1 Quarter
Total revenue	`Revenues`	$35.60M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$16.64M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$8.62M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$16.84M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$9.09M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$703.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$1.76M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$323.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$1.15M	USD	1 Quarter
Loss (Gain) on sale of property and equipment	`GainLossOnDispositionOfAssets`	$4.00K	USD	2 Qtrs
Loss (Gain) on sale of property and equipment	`GainLossOnDispositionOfAssets`	$3.00K	USD	1 Quarter
Loss (Gain) on sale of property and equipment	`GainLossOnDispositionOfAssets`	$-3.00K	USD	2 Qtrs
Loss (Gain) on sale of property and equipment	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
Operating Expenses	`OperatingExpenses`	$39.29M	USD	1 Quarter
Operating Expenses	`OperatingExpenses`	$42.53M	USD	1 Quarter
Operating Expenses	`OperatingExpenses`	$79.51M	USD	2 Qtrs
Operating Expenses	`OperatingExpenses`	$76.53M	USD	2 Qtrs
Operating Income (Loss) from continuing operations	`OperatingIncomeLoss`	$-3.95M	USD	2 Qtrs
Operating Income (Loss) from continuing operations	`OperatingIncomeLoss`	$704.00K	USD	1 Quarter
Operating Income (Loss) from continuing operations	`OperatingIncomeLoss`	$-3.68M	USD	1 Quarter
Operating Income (Loss) from continuing operations	`OperatingIncomeLoss`	$699.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$1.17M	USD	1 Quarter
Interest expense	`InterestExpense`	$2.24M	USD	2 Qtrs
Interest expense	`InterestExpense`	$2.10M	USD	2 Qtrs
Interest expense	`InterestExpense`	$1.08M	USD	1 Quarter
Gain (Loss) from equity method investments	`IncomeLossFromEquityMethodInvestments`	$-498.00K	USD	1 Quarter
Gain (Loss) from equity method investments	`IncomeLossFromEquityMethodInvestments`	$14.00K	USD	1 Quarter
Gain (Loss) from equity method investments	`IncomeLossFromEquityMethodInvestments`	$-1.06M	USD	2 Qtrs
Gain (Loss) from equity method investments	`IncomeLossFromEquityMethodInvestments`	$97.00K	USD	2 Qtrs
Gain on forgiveness of Paycheck Protection Program (PPP) loan	`GainLossFromForgivenessOfPaycheckProtectionProgramPPPLoan`	$8.33M	USD	1 Quarter
Gain on forgiveness of Paycheck Protection Program (PPP) loan	`GainLossFromForgivenessOfPaycheckProtectionProgramPPPLoan`	-	USD	1 Quarter
Gain on forgiveness of Paycheck Protection Program (PPP) loan	`GainLossFromForgivenessOfPaycheckProtectionProgramPPPLoan`	$8.33M	USD	2 Qtrs
Gain on forgiveness of Paycheck Protection Program (PPP) loan	`GainLossFromForgivenessOfPaycheckProtectionProgramPPPLoan`	-	USD	2 Qtrs
Other	`OtherNonoperatingIncomeExpense`	$359.00K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$159.00K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$1.09M	USD	2 Qtrs
Other	`OtherNonoperatingIncomeExpense`	$1.34M	USD	2 Qtrs
Nonoperating income (expense)	`NonoperatingIncomeExpense`	$7.34M	USD	1 Quarter
Nonoperating income (expense)	`NonoperatingIncomeExpense`	$7.66M	USD	2 Qtrs
Nonoperating income (expense)	`NonoperatingIncomeExpense`	$-2.21M	USD	2 Qtrs
Nonoperating income (expense)	`NonoperatingIncomeExpense`	$-1.22M	USD	1 Quarter
Income (Loss) from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$8.36M	USD	2 Qtrs
Income (Loss) from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.90M	USD	1 Quarter
Income (Loss) from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-6.16M	USD	2 Qtrs
Income (Loss) from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$8.04M	USD	1 Quarter
Income Taxes Expense (Benefit)	`IncomeTaxExpenseBenefit`	$38.00K	USD	1 Quarter
Income Taxes Expense (Benefit)	`IncomeTaxExpenseBenefit`	$-1.55M	USD	1 Quarter
Income Taxes Expense (Benefit)	`IncomeTaxExpenseBenefit`	$-1.85M	USD	2 Qtrs
Income Taxes Expense (Benefit)	`IncomeTaxExpenseBenefit`	$33.00K	USD	2 Qtrs
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$8.00M	USD	1 Quarter
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$8.33M	USD	2 Qtrs
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-4.31M	USD	2 Qtrs
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-3.36M	USD	1 Quarter
Gain on sale of discontinued operations, net of tax	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	-	USD	2 Qtrs
Gain on sale of discontinued operations, net of tax	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$4.00K	USD	1 Quarter
Gain on sale of discontinued operations, net of tax	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$4.00K	USD	2 Qtrs
Gain on sale of discontinued operations, net of tax	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	-	USD	1 Quarter
Net Income (Loss)	`ProfitLoss`	$8.33M	USD	2 Qtrs
Net Income (Loss)	`ProfitLoss`	$-4.31M	USD	2 Qtrs
Net Income (Loss)	`ProfitLoss`	$-3.35M	USD	1 Quarter
Net Income (Loss)	`ProfitLoss`	$8.00M	USD	1 Quarter
Net (Income) Loss Attributable to Non-controlling Interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-433.00K	USD	1 Quarter
Net (Income) Loss Attributable to Non-controlling Interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$486.00K	USD	2 Qtrs
Net (Income) Loss Attributable to Non-controlling Interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$448.00K	USD	1 Quarter
Net (Income) Loss Attributable to Non-controlling Interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-549.00K	USD	2 Qtrs
Net Income (Loss) Attributable to Air T, Inc. Stockholders	`NetIncomeLoss`	$7.84M	USD	2 Qtrs
Net Income (Loss) Attributable to Air T, Inc. Stockholders	`NetIncomeLoss`	$-2.92M	USD	1 Quarter
Net Income (Loss) Attributable to Air T, Inc. Stockholders	`NetIncomeLoss`	$-3.76M	USD	2 Qtrs
Net Income (Loss) Attributable to Air T, Inc. Stockholders	`NetIncomeLoss`	$7.55M	USD	1 Quarter
Basic (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$-1.31	USD	2 Qtrs
Basic (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$2.62	USD	1 Quarter
Basic (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$2.72	USD	2 Qtrs
Basic (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$-1.01	USD	1 Quarter
Diluted (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$-1.01	USD	1 Quarter
Diluted (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$2.71	USD	2 Qtrs
Diluted (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$2.60	USD	1 Quarter
Diluted (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$-1.31	USD	2 Qtrs
Basic (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	-	USD	2 Qtrs
Basic (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	-	USD	1 Quarter
Basic (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	-	USD	1 Quarter
Basic (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	-	USD	2 Qtrs
Diluted (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	-	USD	2 Qtrs
Diluted (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	-	USD	1 Quarter
Diluted (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	-	USD	2 Qtrs
Diluted (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	-	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-1.01	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-1.31	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$2.62	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$2.72	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-1.01	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$2.71	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-1.31	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$2.60	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.88M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.88M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.88M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.88M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.89M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.88M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.90M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.88M	shares	1 Quarter

Cash Flow Statement 76 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss)	`ProfitLoss`	$8.33M	USD	2 Qtrs
Net Income (Loss)	`ProfitLoss`	$-4.31M	USD	2 Qtrs
Net Income (Loss)	`ProfitLoss`	$-3.35M	USD	1 Quarter
Net Income (Loss)	`ProfitLoss`	$8.00M	USD	1 Quarter
Gain on sale of discontinued operations, net of income tax	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	-	USD	2 Qtrs
Gain on sale of discontinued operations, net of income tax	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$4.00K	USD	1 Quarter
Gain on sale of discontinued operations, net of income tax	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$4.00K	USD	2 Qtrs
Gain on sale of discontinued operations, net of income tax	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	-	USD	1 Quarter
Net Income (Loss) from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$8.00M	USD	1 Quarter
Net Income (Loss) from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$8.33M	USD	2 Qtrs
Net Income (Loss) from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-4.31M	USD	2 Qtrs
Net Income (Loss) from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-3.36M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$703.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.76M	USD	2 Qtrs
Gain on forgiveness of PPP loan	`GainLossFromForgivenessOfPaycheckProtectionProgramPPPLoan`	$8.33M	USD	1 Quarter
Gain on forgiveness of PPP loan	`GainLossFromForgivenessOfPaycheckProtectionProgramPPPLoan`	-	USD	1 Quarter
Gain on forgiveness of PPP loan	`GainLossFromForgivenessOfPaycheckProtectionProgramPPPLoan`	$8.33M	USD	2 Qtrs
Gain on forgiveness of PPP loan	`GainLossFromForgivenessOfPaycheckProtectionProgramPPPLoan`	-	USD	2 Qtrs
Other	`OtherNoncashIncomeExpense`	$-1.74M	USD	2 Qtrs
Other	`OtherNoncashIncomeExpense`	$1.17M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.20M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$10.64M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$1.94M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$10.12M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.73M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.72M	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-3.78M	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-730.00K	USD	2 Qtrs
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$467.00K	USD	2 Qtrs
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$2.61M	USD	2 Qtrs
Net cash used in operating activities - continued operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-22.75M	USD	2 Qtrs
Net cash used in operating activities - continued operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-5.63M	USD	2 Qtrs
Net cash provided by operating activities - discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	-	USD	2 Qtrs
Net cash provided by operating activities - discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$4.00K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-22.75M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.62M	USD	2 Qtrs
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$659.00K	USD	2 Qtrs
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	-	USD	2 Qtrs
Investment in unconsolidated entities	`PaymentsToAcquireHeldToMaturitySecurities`	$1.08M	USD	2 Qtrs
Investment in unconsolidated entities	`PaymentsToAcquireHeldToMaturitySecurities`	-	USD	2 Qtrs
Capital expenditures related to property & equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.71M	USD	2 Qtrs
Capital expenditures related to property & equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$842.00K	USD	2 Qtrs
Capital expenditures related to assets on lease or held for lease	`PaymentsRelatedToAssetsOnLease`	$85.00K	USD	2 Qtrs
Capital expenditures related to assets on lease or held for lease	`PaymentsRelatedToAssetsOnLease`	-	USD	2 Qtrs
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-1.84M	USD	2 Qtrs
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$449.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.38M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-615.00K	USD	2 Qtrs
Proceeds from lines of credit	`ProceedsFromLinesOfCredit`	$14.13M	USD	2 Qtrs
Proceeds from lines of credit	`ProceedsFromLinesOfCredit`	$36.74M	USD	2 Qtrs
Payments on lines of credit	`RepaymentsOfLinesOfCredit`	$22.26M	USD	2 Qtrs
Payments on lines of credit	`RepaymentsOfLinesOfCredit`	$31.89M	USD	2 Qtrs
Proceeds from term loan	`ProceedsFromIssuanceOfLongTermDebt`	$4.67M	USD	2 Qtrs
Proceeds from term loan	`ProceedsFromIssuanceOfLongTermDebt`	$9.48M	USD	2 Qtrs
Payments on term loan	`RepaymentsOfLongTermDebt`	$4.88M	USD	2 Qtrs
Payments on term loan	`RepaymentsOfLongTermDebt`	$2.01M	USD	2 Qtrs
Proceeds from PPP loan	`ProceedsFromNotesPayable`	$8.21M	USD	2 Qtrs
Proceeds from PPP loan	`ProceedsFromNotesPayable`	-	USD	2 Qtrs
Proceeds received from issuance of Trust Preferred Securities ("TruPs")	`ProceedsFromWarrantExercises`	-	USD	2 Qtrs
Proceeds received from issuance of Trust Preferred Securities ("TruPs")	`ProceedsFromWarrantExercises`	$7.81M	USD	2 Qtrs
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$110.00K	USD	2 Qtrs
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-1.03M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.66M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$15.43M	USD	2 Qtrs
Effect of foreign currency exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$51.00K	USD	2 Qtrs
Effect of foreign currency exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-127.00K	USD	2 Qtrs
NET DECREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-9.65M	USD	2 Qtrs
NET DECREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.70M	USD	2 Qtrs
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$12.87M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.27M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$15.57M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$15.93M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$12.87M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.27M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$15.57M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$15.93M	USD	Point-in-time

Stockholders Equity 35 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$22.99M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$20.67M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.01M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$14.71M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$14.88M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$24.50M	USD	Point-in-time
Net income (loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-846.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$7.54M	USD	1 Quarter
Net income (loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-2.93M	USD	1 Quarter
Net income (loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$442.00K	USD	1 Quarter
Stock compensation expense	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$236.00K	USD	1 Quarter
Unrealized gain (loss) on interest rate swaps, net of tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$55.00K	USD	1 Quarter
Unrealized gain (loss) on interest rate swaps, net of tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$57.00K	USD	2 Qtrs
Unrealized gain (loss) on interest rate swaps, net of tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$29.00K	USD	2 Qtrs
Unrealized gain (loss) on interest rate swaps, net of tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$11.00K	USD	1 Quarter
Unrealized gain (loss) on interest rate swaps, net of tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$46.00K	USD	1 Quarter
Unrealized gain (loss) on interest rate swaps, net of tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$-26.00K	USD	1 Quarter
Foreign currency translation loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-49.00K	USD	1 Quarter
Foreign currency translation loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-68.00K	USD	1 Quarter
Foreign currency translation loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$54.00K	USD	2 Qtrs
Foreign currency translation loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$103.00K	USD	1 Quarter
Foreign currency translation loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-67.00K	USD	1 Quarter
Foreign currency translation loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-135.00K	USD	2 Qtrs
Adjustment to fair value of redeemable non-controlling interests	`NetIncomeLossAttributableToRedeemableNoncontrollingInterest`	$238.00K	USD	1 Quarter
Adjustment to fair value of redeemable non-controlling interests	`NetIncomeLossAttributableToRedeemableNoncontrollingInterest`	$890.00K	USD	1 Quarter
Adjustment to fair value of redeemable non-controlling interests	`NetIncomeLossAttributableToRedeemableNoncontrollingInterest`	$-429.00K	USD	1 Quarter
Adjustment to fair value of redeemable non-controlling interests	`NetIncomeLossAttributableToRedeemableNoncontrollingInterest`	$-183.00K	USD	1 Quarter
Reclassification of interest rate swaps into earnings	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax`	$2.00K	USD	1 Quarter
Reclassification of interest rate swaps into earnings	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax`	$1.00K	USD	1 Quarter
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$22.99M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$20.67M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.01M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$14.71M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$14.88M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$24.50M	USD	Point-in-time

Comprehensive Income 36 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss)	`ProfitLoss`	$8.33M	USD	2 Qtrs
Net Income (Loss)	`ProfitLoss`	$-4.31M	USD	2 Qtrs
Net Income (Loss)	`ProfitLoss`	$-3.35M	USD	1 Quarter
Net Income (Loss)	`ProfitLoss`	$8.00M	USD	1 Quarter
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-49.00K	USD	1 Quarter
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-68.00K	USD	1 Quarter
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$54.00K	USD	2 Qtrs
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$103.00K	USD	1 Quarter
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-67.00K	USD	1 Quarter
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-135.00K	USD	2 Qtrs
Unrealized gain on interest rate swaps	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$55.00K	USD	1 Quarter
Unrealized gain on interest rate swaps	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$57.00K	USD	2 Qtrs
Unrealized gain on interest rate swaps	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$29.00K	USD	2 Qtrs
Unrealized gain on interest rate swaps	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$11.00K	USD	1 Quarter
Unrealized gain on interest rate swaps	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$46.00K	USD	1 Quarter
Unrealized gain on interest rate swaps	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$-26.00K	USD	1 Quarter
Reclassification of interest rate swaps into earnings	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$-16.00K	USD	2 Qtrs
Reclassification of interest rate swaps into earnings	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$-16.00K	USD	1 Quarter
Reclassification of interest rate swaps into earnings	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$-2.00K	USD	1 Quarter
Reclassification of interest rate swaps into earnings	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$-3.00K	USD	2 Qtrs
Total Other Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$108.00K	USD	2 Qtrs
Total Other Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-122.00K	USD	2 Qtrs
Total Other Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-29.00K	USD	1 Quarter
Total Other Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$147.00K	USD	1 Quarter
Total Comprehensive Income (Loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-3.38M	USD	1 Quarter
Total Comprehensive Income (Loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-4.43M	USD	2 Qtrs
Total Comprehensive Income (Loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$8.44M	USD	2 Qtrs
Total Comprehensive Income (Loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$8.15M	USD	1 Quarter
Comprehensive (Income) Loss Attributable to Non-controlling Interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-433.00K	USD	1 Quarter
Comprehensive (Income) Loss Attributable to Non-controlling Interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$448.00K	USD	1 Quarter
Comprehensive (Income) Loss Attributable to Non-controlling Interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-549.00K	USD	2 Qtrs
Comprehensive (Income) Loss Attributable to Non-controlling Interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$486.00K	USD	2 Qtrs
Comprehensive Income (Loss) Attributable to Air T, Inc. Stockholders	`ComprehensiveIncomeNetOfTax`	$7.70M	USD	1 Quarter
Comprehensive Income (Loss) Attributable to Air T, Inc. Stockholders	`ComprehensiveIncomeNetOfTax`	$7.95M	USD	2 Qtrs
Comprehensive Income (Loss) Attributable to Air T, Inc. Stockholders	`ComprehensiveIncomeNetOfTax`	$-2.95M	USD	1 Quarter
Comprehensive Income (Loss) Attributable to Air T, Inc. Stockholders	`ComprehensiveIncomeNetOfTax`	$-3.88M	USD	2 Qtrs

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