10-K Filing

AIR T INC CIK: 353184 FY 2021

Filing Information

Form Type	10-K
Accession Number	`0000353184-22-000046`
Period End Date	20220331
Filing Date	20220628
Fiscal Year	2021
Fiscal Period	FY
XBRL Instance	airt-20220331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 108 Income Statement 112 Cash Flow Statement 106 Stockholders Equity 18 Comprehensive Income 18

Balance Sheet 108 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.18M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.37M	USD	Point-in-time
Assets on lease, accumulated depreciation	`FinanceLeaseRightOfUseAssetAccumulatedAmortization`	$780.00K	USD	Point-in-time
Assets on lease, accumulated depreciation	`FinanceLeaseRightOfUseAssetAccumulatedAmortization`	$436.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.62M	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$4.51M	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$5.41M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$859.00K	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$1.41M	USD	Point-in-time
Accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$2.47M	USD	Point-in-time
Accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$2.95M	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 cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$4.93M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$2.75M	USD	Point-in-time
Restricted investments	`RestrictedInvestmentsCurrent`	$1.69M	USD	Point-in-time
Restricted investments	`RestrictedInvestmentsCurrent`	$1.51M	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 $1,368 and $1,177	`AccountsReceivableNetCurrent`	$6.50M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,368 and $1,177	`AccountsReceivableNetCurrent`	$19.68M	USD	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
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	4.00M	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$4.39M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$3.23M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	4.00M	shares	Point-in-time
Inventories, net	`InventoryNet`	$71.97M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	3.02M	shares	Point-in-time
Inventories, net	`InventoryNet`	$75.17M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	3.02M	shares	Point-in-time
Employee retention credit receivable	`EmployeeRetentionCreditReceivableCARESAct`	$9.10M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	2.87M	shares	Point-in-time
Employee retention credit receivable	`EmployeeRetentionCreditReceivableCARESAct`	-	USD	Point-in-time
Employee retention credit receivable	`EmployeeRetentionCreditReceivableCARESAct`	$9.14M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	2.88M	shares	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$10.11M	USD	Point-in-time
Treasury stock (in shares)	`TreasuryStockShares`	156,327.00	shares	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
Treasury stock, average price per share (in dollars per share)	`TreasuryStockAveragePricePerShare`	$18.58	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$105.77M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$128.24M	USD	Point-in-time
Treasury stock, average price per share (in dollars per share)	`TreasuryStockAveragePricePerShare`	$19.20	USD	Point-in-time
Assets on lease or held for lease, net of accumulated depreciation of $780 and $436	`FinanceLeaseRightOfUseAsset`	$14.51M	USD	Point-in-time
Assets on lease or held for lease, net of accumulated depreciation of $780 and $436	`FinanceLeaseRightOfUseAsset`	$2.13M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $5,405 and $4,510	`PropertyPlantAndEquipmentNet`	$21.21M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $5,405 and $4,510	`PropertyPlantAndEquipmentNet`	$8.52M	USD	Point-in-time
Intangible assets, net of accumulated amortization of $2,947 and $2,467	`IntangibleAssetsNetExcludingGoodwill`	$1.60M	USD	Point-in-time
Intangible assets, net of accumulated amortization of $2,947 and $2,467	`IntangibleAssetsNetExcludingGoodwill`	$13.26M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$7.76M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$7.35M	USD	Point-in-time
Equity method investments	`EquityMethodInvestments`	$4.47M	USD	Point-in-time
Equity method investments	`EquityMethodInvestments`	$9.86M	USD	Point-in-time
Goodwill	`Goodwill`	$10.13M	USD	Point-in-time
Goodwill	`Goodwill`	$4.23M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.03M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$6.27M	USD	Point-in-time
Total Assets	`Assets`	$140.75M	USD	Point-in-time
Total Assets	`Assets`	$207.60M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$9.40M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.34M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$194.00K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$39.00K	USD	Point-in-time
Accrued expenses and other (Note 12)	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$12.79M	USD	Point-in-time
Accrued expenses and other (Note 12)	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$13.39M	USD	Point-in-time
Current portion of long-term debt	`LinesOfCreditCurrent`	$6.48M	USD	Point-in-time
Current portion of long-term debt	`LinesOfCreditCurrent`	$5.64M	USD	Point-in-time
Short-term lease liability	`OperatingLeaseLiabilityCurrent`	$1.37M	USD	Point-in-time
Short-term lease liability	`OperatingLeaseLiabilityCurrent`	$1.44M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$30.91M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$28.18M	USD	Point-in-time
Long-term debt	`LongTermLineOfCredit`	$129.33M	USD	Point-in-time
Long-term debt	`LongTermLineOfCredit`	$81.86M	USD	Point-in-time
Deferred income tax liabilities, net	`DeferredIncomeTaxLiabilitiesNet`	$2.81M	USD	Point-in-time
Deferred income tax liabilities, net	`DeferredIncomeTaxLiabilitiesNet`	$595.00K	USD	Point-in-time
Long-term lease liability	`OperatingLeaseLiabilityNoncurrent`	$7.08M	USD	Point-in-time
Long-term lease liability	`OperatingLeaseLiabilityNoncurrent`	$6.73M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$1.73M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$1.34M	USD	Point-in-time
Total Liabilities	`Liabilities`	$171.12M	USD	Point-in-time
Total Liabilities	`Liabilities`	$119.44M	USD	Point-in-time
Redeemable non-controlling interest	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$6.60M	USD	Point-in-time
Redeemable non-controlling interest	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$10.76M	USD	Point-in-time
Commitments and contingencies (Note 24)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 24)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred Stock, Value, Issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred Stock, Value, Issued	`PreferredStockValue`	-	USD	Point-in-time
Common Stock, Value, Issued	`CommonStockValue`	$756.00K	USD	Point-in-time
Common Stock, Value, Issued	`CommonStockValue`	$756.00K	USD	Point-in-time
Treasury Stock, Value	`TreasuryStockValue`	$3.00M	USD	Point-in-time
Treasury Stock, Value	`TreasuryStockValue`	$2.62M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$393.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	-	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$26.73M	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`	$-263.00K	USD	Point-in-time
Total Air T, Inc. Stockholders' Equity	`StockholdersEquity`	$24.61M	USD	Point-in-time
Total Air T, Inc. Stockholders' Equity	`StockholdersEquity`	$13.72M	USD	Point-in-time
Non-controlling Interests	`MinorityInterest`	$1.10M	USD	Point-in-time
Non-controlling Interests	`MinorityInterest`	$989.00K	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.72M	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$14.71M	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.01M	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$207.60M	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$140.75M	USD	Point-in-time

Income Statement 112 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$175.12M	USD	Annual
Revenue	`Revenues`	$55.82M	USD	1 Quarter
Revenue	`Revenues`	$43.24M	USD	1 Quarter
Revenue	`Revenues`	$51.44M	USD	1 Quarter
Revenue	`Revenues`	$177.08M	USD	Annual
Revenue	`Revenues`	$46.73M	USD	1 Quarter
Revenue	`Revenues`	$45.43M	USD	1 Quarter
Revenue	`Revenues`	$36.97M	USD	1 Quarter
Revenue	`Revenues`	$36.97M	USD	1 Quarter
Revenue	`Revenues`	$35.60M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$34.26M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$29.82M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$3.11M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$1.86M	USD	Annual
Write-down of inventory	`OtherAssetImpairmentCharges`	$768.00K	USD	Annual
Write-down of inventory	`OtherAssetImpairmentCharges`	$6.41M	USD	Annual
Impairment of property and equipment	`ImpairmentOfLongLivedAssetsHeldForUse`	$187.00K	USD	Annual
Impairment of property and equipment	`ImpairmentOfLongLivedAssetsHeldForUse`	$37.00K	USD	Annual
Loss (gain) on sale of property and equipment	`GainLossOnDispositionOfAssets`	$-5.00K	USD	Annual
Loss (gain) on sale of property and equipment	`GainLossOnDispositionOfAssets`	$10.00K	USD	Annual
Operating Expenses	`OperatingExpenses`	$184.30M	USD	Annual
Operating Expenses	`OperatingExpenses`	$168.32M	USD	Annual
Operating Income (Loss) from continuing operations	`OperatingIncomeLoss`	$8.76M	USD	Annual
Operating Income (Loss) from continuing operations	`OperatingIncomeLoss`	$-9.18M	USD	Annual
Interest expense, net	`InterestExpense`	$4.62M	USD	Annual
Interest expense, net	`InterestExpense`	$4.95M	USD	Annual
Gain on forgiveness of PPP	`GainLossFromForgivenessOfPaycheckProtectionProgramPPPLoan`	$8.33M	USD	Annual
Gain on forgiveness of PPP	`GainLossFromForgivenessOfPaycheckProtectionProgramPPPLoan`	-	USD	Annual
Income (loss) from equity method investments	`IncomeLossFromEquityMethodInvestments`	$-723.00K	USD	Annual
Income (loss) from equity method investments	`IncomeLossFromEquityMethodInvestments`	$37.00K	USD	Annual
Other	`OtherNonoperatingIncomeExpense`	$2.74M	USD	Annual
Other	`OtherNonoperatingIncomeExpense`	$1.22M	USD	Annual
Non-operating income (expense)	`NonoperatingIncomeExpense`	$-2.61M	USD	Annual
Non-operating income (expense)	`NonoperatingIncomeExpense`	$4.64M	USD	Annual
Income (Loss) from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-11.78M	USD	Annual
Income (Loss) from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$13.40M	USD	Annual
Income Tax Expense (Benefit)	`IncomeTaxExpenseBenefit`	$-3.39M	USD	Annual
Income Tax Expense (Benefit)	`IncomeTaxExpenseBenefit`	$1.17M	USD	Annual
Net Income (Loss) from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$5.09M	USD	1 Quarter
Net Income (Loss) from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-956.00K	USD	1 Quarter
Net Income (Loss) from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$8.00M	USD	1 Quarter
Net Income (Loss) from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$12.23M	USD	Annual
Net Income (Loss) from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$327.00K	USD	1 Quarter
Net Income (Loss) from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-5.84M	USD	1 Quarter
Net Income (Loss) from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-1.19M	USD	1 Quarter
Net Income (Loss) from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-3.36M	USD	1 Quarter
Net Income (Loss) from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-8.39M	USD	Annual
Net Income (Loss) from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$1.76M	USD	1 Quarter
Gain on sale of discontinued operations, net of tax	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	-	USD	Annual
Gain on sale of discontinued operations, net of tax	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$4.00K	USD	Annual
Net Income (Loss)	`ProfitLoss`	$12.23M	USD	Annual
Net Income (Loss)	`ProfitLoss`	$-8.39M	USD	Annual
Net (Income) Loss Attributable to Non-controlling Interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$73.00K	USD	1 Quarter
Net (Income) Loss Attributable to Non-controlling Interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-115.00K	USD	1 Quarter
Net (Income) Loss Attributable to Non-controlling Interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-335.00K	USD	1 Quarter
Net (Income) Loss Attributable to Non-controlling Interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$740.00K	USD	1 Quarter
Net (Income) Loss Attributable to Non-controlling Interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$448.00K	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`	$38.00K	USD	1 Quarter
Net (Income) Loss Attributable to Non-controlling Interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-1.11M	USD	Annual
Net (Income) Loss Attributable to Non-controlling Interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-230.00K	USD	1 Quarter
Net (Income) Loss Attributable to Non-controlling Interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$1.30M	USD	Annual
Net Income (Loss) Attributable to Air T, Inc. Stockholders	`NetIncomeLoss`	$-7.28M	USD	Annual
Net Income (Loss) Attributable to Air T, Inc. Stockholders	`NetIncomeLoss`	$10.93M	USD	Annual
Basic (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.29	USD	1 Quarter
Basic (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$-1.96	USD	1 Quarter
Basic (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$1.51	USD	1 Quarter
Basic (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$-2.53	USD	Annual
Basic (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.73	USD	1 Quarter
Basic (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.10	USD	1 Quarter
Basic (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.44	USD	1 Quarter
Basic (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$3.79	USD	Annual
Basic (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$2.62	USD	1 Quarter
Basic (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$-1.01	USD	1 Quarter
Diluted (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$1.51	USD	1 Quarter
Diluted (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$-1.01	USD	1 Quarter
Diluted (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.10	USD	1 Quarter
Diluted (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$-1.96	USD	1 Quarter
Diluted (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$-0.29	USD	1 Quarter
Diluted (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$2.60	USD	1 Quarter
Diluted (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.73	USD	1 Quarter
Diluted (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$-2.53	USD	Annual
Diluted (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$3.78	USD	Annual
Diluted (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$-0.44	USD	1 Quarter
Basic (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	-	USD	Annual
Basic (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	-	USD	1 Quarter
Basic (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	-	USD	Annual
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	1 Quarter
Diluted (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	-	USD	1 Quarter
Diluted (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	-	USD	Annual
Diluted (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	-	USD	1 Quarter
Diluted (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	-	USD	1 Quarter
Diluted (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	-	USD	1 Quarter
Diluted (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	-	USD	Annual
Basic (in dollars per share)	`EarningsPerShareBasic`	$-1.96	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$3.79	USD	Annual
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.73	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-1.01	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-2.53	USD	Annual
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.29	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$3.78	USD	Annual
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-1.01	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-2.53	USD	Annual
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-1.96	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.73	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.29	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.88M	shares	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.88M	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.88M	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.89M	shares	Annual

Cash Flow Statement 106 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`ProfitLoss`	$12.23M	USD	Annual
Net income (loss)	`ProfitLoss`	$-8.39M	USD	Annual
Gain on sale of discontinued operations, net of income tax	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	-	USD	Annual
Gain on sale of discontinued operations, net of income tax	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$4.00K	USD	Annual
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$5.09M	USD	1 Quarter
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-956.00K	USD	1 Quarter
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$8.00M	USD	1 Quarter
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$12.23M	USD	Annual
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$327.00K	USD	1 Quarter
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-5.84M	USD	1 Quarter
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-1.19M	USD	1 Quarter
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-3.36M	USD	1 Quarter
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-8.39M	USD	Annual
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$1.76M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.86M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.11M	USD	Annual
Profit from sale of assets on lease and held for lease	`GainLossOnSaleOfPropertyPlantEquipment`	$1.47M	USD	Annual
Profit from sale of assets on lease and held for lease	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	Annual
Gain on forgiveness of PPP loan	`GainLossFromForgivenessOfPaycheckProtectionProgramLoan`	-	USD	Annual
Gain on forgiveness of PPP loan	`GainLossFromForgivenessOfPaycheckProtectionProgramLoan`	$8.33M	USD	Annual
Write-down of inventory	`InventoryWriteDown`	$768.00K	USD	Annual
Write-down of inventory	`InventoryWriteDown`	$6.41M	USD	Annual
Other	`OtherNoncashIncomeExpense`	$-1.02M	USD	Annual
Other	`OtherNoncashIncomeExpense`	$-876.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$12.65M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-6.07M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$17.60M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$129.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.05M	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.52M	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-485.00K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-341.00K	USD	Annual
Employee retention credit receivable	`IncreaseDecreaseEmployeeRetentionCreditReceivable`	-	USD	Annual
Employee retention credit receivable	`IncreaseDecreaseEmployeeRetentionCreditReceivable`	$9.14M	USD	Annual
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$5.57M	USD	Annual
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$1.66M	USD	Annual
Total adjustments	`IncreaseDecreaseInOperatingCapital`	$2.49M	USD	Annual
Total adjustments	`IncreaseDecreaseInOperatingCapital`	$40.48M	USD	Annual
Net cash used in operating activities - continuing operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.82M	USD	Annual
Net cash used in operating activities - continuing operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-33.08M	USD	Annual
Net cash provided by operating activities - discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	-	USD	Annual
Net cash provided by operating activities - discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$4.00K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.82M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-33.08M	USD	Annual
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	-	USD	Annual
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$659.00K	USD	Annual
Sale of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$2.45M	USD	Annual
Sale of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$815.00K	USD	Annual
Proceeds from sale of assets on lease and held for lease	`ProceedsFromSaleOfFlightEquipment`	$8.18M	USD	Annual
Proceeds from sale of assets on lease and held for lease	`ProceedsFromSaleOfFlightEquipment`	-	USD	Annual
Acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$12.80M	USD	Annual
Acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$536.00K	USD	Annual
Investment in unconsolidated entities	`PaymentsToAcquireHeldToMaturitySecurities`	-	USD	Annual
Investment in unconsolidated entities	`PaymentsToAcquireHeldToMaturitySecurities`	$6.80M	USD	Annual
Acquisition of assets	`PaymentsForAssetAcquisitions`	$13.41M	USD	Annual
Acquisition of assets	`PaymentsForAssetAcquisitions`	-	USD	Annual
Capital expenditures related to property & equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.90M	USD	Annual
Capital expenditures related to property & equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.53M	USD	Annual
Capital expenditures related to assets on lease or held for lease	`PaymentsRelatedToAssetsOnLease`	$2.11M	USD	Annual
Capital expenditures related to assets on lease or held for lease	`PaymentsRelatedToAssetsOnLease`	$28.00K	USD	Annual
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-364.00K	USD	Annual
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$919.00K	USD	Annual
Net cash (used) provided by investing activities - continuing operations	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-33.39M	USD	Annual
Net cash (used) provided by investing activities - continuing operations	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$2.52M	USD	Annual
Net cash (used) provided by investing activities - discontinued operations	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	-	USD	Annual
Net cash (used) provided by investing activities - discontinued operations	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	-	USD	Annual
Net cash (used) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-33.39M	USD	Annual
Net cash (used) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$2.52M	USD	Annual
Proceeds from lines of credit	`ProceedsFromLinesOfCredit`	$66.38M	USD	Annual
Proceeds from lines of credit	`ProceedsFromLinesOfCredit`	$99.36M	USD	Annual
Payments on lines of credit	`RepaymentsOfLinesOfCredit`	$84.55M	USD	Annual
Payments on lines of credit	`RepaymentsOfLinesOfCredit`	$105.55M	USD	Annual
Proceeds from term loan	`ProceedsFromIssuanceOfLongTermDebt`	$59.28M	USD	Annual
Proceeds from term loan	`ProceedsFromIssuanceOfLongTermDebt`	$34.23M	USD	Annual
Payments on term loan	`RepaymentsOfLongTermDebt`	$27.27M	USD	Annual
Payments on term loan	`RepaymentsOfLongTermDebt`	$3.81M	USD	Annual
Proceeds from PPP loan	`ProceedsFromNotesPayable`	$8.21M	USD	Annual
Proceeds from PPP loan	`ProceedsFromNotesPayable`	-	USD	Annual
Proceeds received from issuance of TruPs	`ProceedsFromWarrantExercises`	$1.34M	USD	Annual
Proceeds received from issuance of TruPs	`ProceedsFromWarrantExercises`	$11.28M	USD	Annual
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-2.32M	USD	Annual
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$2.75M	USD	Annual
Net cash provided by financing activities - continuing operations	`NetCashProvidedByUsedInFinancingActivities`	$59.25M	USD	Annual
Net cash provided by financing activities - continuing operations	`NetCashProvidedByUsedInFinancingActivities`	$71.00K	USD	Annual
Effect of foreign currency exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-341.00K	USD	Annual
Effect of foreign currency exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-412.00K	USD	Annual
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-7.56M	USD	Annual
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$356.00K	USD	Annual
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.37M	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 BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$15.93M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.37M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$15.57M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$15.93M	USD	Point-in-time
Non-cash capital expenditures related to property & equipment	`CapitalExpendituresIncurredButNotYetPaid`	$31.00K	USD	Annual
Non-cash capital expenditures related to property & equipment	`CapitalExpendituresIncurredButNotYetPaid`	$13.00K	USD	Annual
Equipment leased or held for lease transferred to Inventory	`EquipmentLeasedToCustomersTransferredToInventory`	$12.00K	USD	Annual
Equipment leased or held for lease transferred to Inventory	`EquipmentLeasedToCustomersTransferredToInventory`	$19.62M	USD	Annual
Equipment in Inventory transferred to Assets on Lease	`EquipmentInInventoryTransferredToAssetsOnLease`	$13.10M	USD	Annual
Equipment in Inventory transferred to Assets on Lease	`EquipmentInInventoryTransferredToAssetsOnLease`	-	USD	Annual
Operating cash payments for operating leases	`OperatingLeasePayments`	$1.82M	USD	Annual
Operating cash payments for operating leases	`OperatingLeasePayments`	$1.68M	USD	Annual
Cash paid during the year for interest	`InterestPaidNet`	$1.52M	USD	Annual
Cash paid during the year for interest	`InterestPaidNet`	$2.73M	USD	Annual
Cash paid during the year for income taxes	`IncomeTaxesPaid`	$477.00K	USD	Annual
Cash paid during the year for income taxes	`IncomeTaxesPaid`	$429.00K	USD	Annual

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.72M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$14.71M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.01M	USD	Point-in-time
Net loss	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-7.29M	USD	Annual
Net loss	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$11.04M	USD	Annual
Repurchase of common stock	`StockRepurchasedAndRetiredDuringPeriodValue`	$385.00K	USD	Annual
Stock compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$393.00K	USD	Annual
Foreign currency translation loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-409.00K	USD	Annual
Foreign currency translation loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-549.00K	USD	Annual
Adjustment to fair value of redeemable non-controlling interest	`NetIncomeLossAttributableToRedeemableNoncontrollingInterest`	$2.86M	USD	Annual
Adjustment to fair value of redeemable non-controlling interest	`NetIncomeLossAttributableToRedeemableNoncontrollingInterest`	$-531.00K	USD	Annual
Unrealized gain of interest rate swaps, net of tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$929.00K	USD	Annual
Unrealized gain of interest rate swaps, net of tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$262.00K	USD	Annual
Put option issued to co-investor in CAM	`PutOptionIssuedToCoInvestorInCAM`	$1.00M	USD	Annual
Reclassification of interest rate swaps into earnings	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax`	$-41.00K	USD	Annual
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.72M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$14.71M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.01M	USD	Point-in-time

Comprehensive Income 18 line items

Line Item	Tag	Value	Unit	Period
Unrealized gain (loss) on interest rate swaps, tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax`	$78.00K	USD	Annual
Net Income (Loss)	`ProfitLoss`	$12.23M	USD	Annual
Unrealized gain (loss) on interest rate swaps, tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax`	$294.00K	USD	Annual
Net Income (Loss)	`ProfitLoss`	$-8.39M	USD	Annual
Foreign currency translation loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-409.00K	USD	Annual
Foreign currency translation loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-549.00K	USD	Annual
Unrealized gain on interest rate swaps, net of tax of $294 and $78	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$929.00K	USD	Annual
Unrealized gain on interest rate swaps, net of tax of $294 and $78	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$262.00K	USD	Annual
Reclassification of interest rate swaps into earnings	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$41.00K	USD	Annual
Reclassification of interest rate swaps into earnings	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$-18.00K	USD	Annual
Total Other Comprehensive Loss	`OtherComprehensiveIncomeLossNetOfTax`	$-165.00K	USD	Annual
Total Other Comprehensive Loss	`OtherComprehensiveIncomeLossNetOfTax`	$421.00K	USD	Annual
Total Comprehensive Income (Loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-8.55M	USD	Annual
Total Comprehensive Income (Loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$12.65M	USD	Annual
Comprehensive (Income) Loss Attributable to Non-controlling Interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-1.11M	USD	Annual
Comprehensive (Income) Loss Attributable to Non-controlling Interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$1.30M	USD	Annual
Comprehensive Income (Loss) Attributable to Air T, Inc. Stockholders	`ComprehensiveIncomeNetOfTax`	$11.35M	USD	Annual
Comprehensive Income (Loss) Attributable to Air T, Inc. Stockholders	`ComprehensiveIncomeNetOfTax`	$-7.44M	USD	Annual

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