10-Q Filing

AIR T INC CIK: 353184 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0000353184-22-000057`
Period End Date	20220630
Filing Date	20220812
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	airt-20220630_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 108 Income Statement 38 Cash Flow Statement 54 Stockholders Equity 27 Comprehensive Income 16

Balance Sheet 108 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.33M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.37M	USD	Point-in-time
Assets on lease, accumulated depreciation	`FinanceLeaseRightOfUseAssetAccumulatedAmortization`	$1.03M	USD	Point-in-time
Assets on lease, accumulated depreciation	`FinanceLeaseRightOfUseAssetAccumulatedAmortization`	$780.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.21M	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$5.67M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.62M	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
Intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$3.24M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$877.00K	USD	Point-in-time
Intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$2.95M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$2.31M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$2.75M	USD	Point-in-time
Restricted investments	`RestrictedInvestmentsCurrent`	$1.67M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Restricted investments	`RestrictedInvestmentsCurrent`	$1.69M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,327 and $1,368	`AccountsReceivableNetCurrent`	$19.68M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,327 and $1,368	`AccountsReceivableNetCurrent`	$16.01M	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
Income tax receivable	`IncomeTaxesReceivable`	$3.15M	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
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	4.00M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	3.02M	shares	Point-in-time
Inventories, net	`InventoryNet`	$86.13M	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 outstanding (in shares)	`CommonStockSharesOutstanding`	2.87M	shares	Point-in-time
Employee retention credit receivable	`EmployeeRetentionCreditReceivableCARESAct`	$7.69M	USD	Point-in-time
Employee retention credit receivable	`EmployeeRetentionCreditReceivableCARESAct`	$9.14M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	2.87M	shares	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$12.09M	USD	Point-in-time
Treasury stock (in shares)	`TreasuryStockCommonShares`	156,327.00	shares	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$10.11M	USD	Point-in-time
Treasury stock (in shares)	`TreasuryStockCommonShares`	156,327.00	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$128.24M	USD	Point-in-time
Treasury stock average price (in dollars per share)	`TreasuryStockAveragePricePerShare`	$19.20	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$137.14M	USD	Point-in-time
Treasury stock average price (in dollars per share)	`TreasuryStockAveragePricePerShare`	$19.20	USD	Point-in-time
Assets on lease or held for lease, net of accumulated depreciation of $1,031 and $780	`FinanceLeaseRightOfUseAsset`	$14.51M	USD	Point-in-time
Assets on lease or held for lease, net of accumulated depreciation of $1,031 and $780	`FinanceLeaseRightOfUseAsset`	$11.14M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $5,675 and $5,405	`PropertyPlantAndEquipmentNet`	$21.26M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $5,675 and $5,405	`PropertyPlantAndEquipmentNet`	$21.21M	USD	Point-in-time
Intangible assets, net of accumulated amortization of $3,237 and $2,947	`IntangibleAssetsNetExcludingGoodwill`	$11.79M	USD	Point-in-time
Intangible assets, net of accumulated amortization of $3,237 and $2,947	`IntangibleAssetsNetExcludingGoodwill`	$13.26M	USD	Point-in-time
Right-of-use ("ROU") assets	`OperatingLeaseRightOfUseAsset`	$6.99M	USD	Point-in-time
Right-of-use ("ROU") assets	`OperatingLeaseRightOfUseAsset`	$7.35M	USD	Point-in-time
Equity method investments	`EquityMethodInvestments`	$11.09M	USD	Point-in-time
Equity method investments	`EquityMethodInvestments`	$9.86M	USD	Point-in-time
Goodwill	`Goodwill`	$10.32M	USD	Point-in-time
Goodwill	`Goodwill`	$10.13M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.03M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.48M	USD	Point-in-time
Total Assets	`Assets`	$207.60M	USD	Point-in-time
Total Assets	`Assets`	$213.21M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$9.40M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$11.04M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$172.00K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$194.00K	USD	Point-in-time
Accrued expenses and other (Note 4)	`AccruedLiabilitiesCurrent`	$14.22M	USD	Point-in-time
Accrued expenses and other (Note 4)	`AccruedLiabilitiesCurrent`	$13.39M	USD	Point-in-time
Current portion of long-term debt	`LinesOfCreditCurrent`	$2.61M	USD	Point-in-time
Current portion of long-term debt	`LinesOfCreditCurrent`	$6.48M	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`	$29.41M	USD	Point-in-time
Long-term debt	`LongTermLineOfCredit`	$137.57M	USD	Point-in-time
Long-term debt	`LongTermLineOfCredit`	$129.33M	USD	Point-in-time
Deferred income tax liabilities, net	`DeferredIncomeTaxLiabilitiesNet`	$2.81M	USD	Point-in-time
Deferred income tax liabilities, net	`DeferredIncomeTaxLiabilitiesNet`	$3.04M	USD	Point-in-time
Long-term lease liability	`OperatingLeaseLiabilityNoncurrent`	$6.73M	USD	Point-in-time
Long-term lease liability	`OperatingLeaseLiabilityNoncurrent`	$6.42M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$1.17M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$1.34M	USD	Point-in-time
Total Liabilities	`Liabilities`	$177.62M	USD	Point-in-time
Total Liabilities	`Liabilities`	$171.12M	USD	Point-in-time
Redeemable non-controlling interest	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$10.34M	USD	Point-in-time
Redeemable non-controlling interest	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$10.76M	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, 2,000,000 shares authorized	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $1.00 par value, 2,000,000 shares authorized	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $.25 par value; 4,000,000 shares authorized, 3,022,745 shares issued, 2,866,418 shares outstanding	`CommonStockValue`	$756.00K	USD	Point-in-time
Common stock, $.25 par value; 4,000,000 shares authorized, 3,022,745 shares issued, 2,866,418 shares outstanding	`CommonStockValue`	$756.00K	USD	Point-in-time
Treasury stock, 156,327 shares at $19.20	`TreasuryStockCommonValue`	$3.00M	USD	Point-in-time
Treasury stock, 156,327 shares at $19.20	`TreasuryStockCommonValue`	$3.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$393.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$472.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$26.22M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$26.73M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-300.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-263.00K	USD	Point-in-time
Total Air T, Inc. Stockholders' Equity	`StockholdersEquity`	$24.15M	USD	Point-in-time
Total Air T, Inc. Stockholders' Equity	`StockholdersEquity`	$24.61M	USD	Point-in-time
Non-controlling Interests	`MinorityInterest`	$1.10M	USD	Point-in-time
Non-controlling Interests	`MinorityInterest`	$1.10M	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.72M	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.25M	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$14.88M	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$14.71M	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$207.60M	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$213.21M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Total revenue	`Revenues`	$50.86M	USD	1 Quarter
Total revenue	`Revenues`	$36.97M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$8.22M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$11.78M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$861.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$380.00K	USD	1 Quarter
(Gain) Loss on sale of property and equipment	`GainLossOnDispositionOfAssets`	$2.00K	USD	1 Quarter
(Gain) Loss on sale of property and equipment	`GainLossOnDispositionOfAssets`	$-3.00K	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$50.03M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$36.97M	USD	1 Quarter
Operating Income (Loss)	`OperatingIncomeLoss`	$834.00K	USD	1 Quarter
Operating Income (Loss)	`OperatingIncomeLoss`	$-4.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.82M	USD	1 Quarter
Interest expense	`InterestExpense`	$939.00K	USD	1 Quarter
Income from equity method investments	`IncomeLossFromEquityMethodInvestments`	$83.00K	USD	1 Quarter
Income from equity method investments	`IncomeLossFromEquityMethodInvestments`	$532.00K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$-154.00K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$1.18M	USD	1 Quarter
Nonoperating income (expense)	`NonoperatingIncomeExpense`	$326.00K	USD	1 Quarter
Nonoperating income (expense)	`NonoperatingIncomeExpense`	$-1.44M	USD	1 Quarter
(Loss) Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-610.00K	USD	1 Quarter
(Loss) Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$322.00K	USD	1 Quarter
Income Taxes Expense (Benefit)	`IncomeTaxExpenseBenefit`	$192.00K	USD	1 Quarter
Income Taxes Expense (Benefit)	`IncomeTaxExpenseBenefit`	$-5.00K	USD	1 Quarter
Net (Loss) Income	`ProfitLoss`	$-802.00K	USD	1 Quarter
Net (Loss) Income	`ProfitLoss`	$327.00K	USD	1 Quarter
Net Income Attributable to Non-controlling Interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$38.00K	USD	1 Quarter
Net Income Attributable to Non-controlling Interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$631.00K	USD	1 Quarter
Net (Loss) Income Attributable to Air T, Inc. Stockholders	`NetIncomeLoss`	$289.00K	USD	1 Quarter
Net (Loss) Income Attributable to Air T, Inc. Stockholders	`NetIncomeLoss`	$-1.43M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.50	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.10	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.50	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.10	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.87M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.88M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.87M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.89M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net (Loss) Income	`ProfitLoss`	$-802.00K	USD	1 Quarter
Net (Loss) Income	`ProfitLoss`	$327.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$380.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$861.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$492.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$260.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-3.72M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$4.75M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$7.84M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$3.29M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.64M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.24M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$700.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-3.19M	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$544.00K	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-941.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-8.82M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.53M	USD	1 Quarter
Investment in unconsolidated entities	`PaymentsToAcquireHeldToMaturitySecurities`	$880.00K	USD	1 Quarter
Investment in unconsolidated entities	`PaymentsToAcquireHeldToMaturitySecurities`	$1.08M	USD	1 Quarter
Capital expenditures related to property & equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$136.00K	USD	1 Quarter
Capital expenditures related to property & equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$351.00K	USD	1 Quarter
Capital expenditures related to assets on lease or held for lease	`PaymentsRelatedToAssetsOnLease`	$20.00K	USD	1 Quarter
Capital expenditures related to assets on lease or held for lease	`PaymentsRelatedToAssetsOnLease`	-	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-191.00K	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$228.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.06M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.45M	USD	1 Quarter
Proceeds from lines of credit	`ProceedsFromLinesOfCredit`	$29.84M	USD	1 Quarter
Proceeds from lines of credit	`ProceedsFromLinesOfCredit`	$14.16M	USD	1 Quarter
Payments on lines of credit	`RepaymentsOfLinesOfCredit`	$30.58M	USD	1 Quarter
Payments on lines of credit	`RepaymentsOfLinesOfCredit`	$11.64M	USD	1 Quarter
Proceeds from term loan	`ProceedsFromIssuanceOfLongTermDebt`	$6.18M	USD	1 Quarter
Proceeds from term loan	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	1 Quarter
Payments on term loan	`RepaymentsOfLongTermDebt`	$1.04M	USD	1 Quarter
Payments on term loan	`RepaymentsOfLongTermDebt`	$836.00K	USD	1 Quarter
Proceeds received from issuance of Trust Preferred Securities ("TruPs")	`ProceedsFromWarrantExercises`	$4.29M	USD	1 Quarter
Proceeds received from issuance of Trust Preferred Securities ("TruPs")	`ProceedsFromWarrantExercises`	-	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-24.00K	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$50.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.82M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.57M	USD	1 Quarter
Effect of foreign currency exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-49.00K	USD	1 Quarter
Effect of foreign currency exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$173.00K	USD	1 Quarter
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-4.50M	USD	1 Quarter
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.16M	USD	1 Quarter
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.52M	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 BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.37M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.43M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.52M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$15.93M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.37M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.43M	USD	Point-in-time

Stockholders Equity 27 line items

Line Item	Tag	Value	Unit	Period
Balance at the beginning	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.72M	USD	Point-in-time
Balance at the beginning	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.25M	USD	Point-in-time
Balance at the beginning	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$14.88M	USD	Point-in-time
Balance at the beginning	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$14.71M	USD	Point-in-time
Balance at the beginning (in shares)	`CommonStockSharesOutstanding`	2.87M	shares	Point-in-time
Balance at the beginning (in shares)	`CommonStockSharesOutstanding`	2.87M	shares	Point-in-time
Balance at the beginning (in shares)	`TreasuryStockCommonShares`	156,327.00	shares	Point-in-time
Balance at the beginning (in shares)	`TreasuryStockCommonShares`	156,327.00	shares	Point-in-time
Net income (loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-1.44M	USD	1 Quarter
Net income (loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$442.00K	USD	1 Quarter
Stock compensation expense	`StockIssuedDuringPeriodValueShareBasedCompensation`	$79.00K	USD	1 Quarter
Foreign currency translation loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-49.00K	USD	1 Quarter
Foreign currency translation loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-529.00K	USD	1 Quarter
Adjustment to fair value of redeemable non-controlling interest	`NetIncomeLossAttributableToRedeemableNoncontrollingInterest`	$238.00K	USD	1 Quarter
Adjustment to fair value of redeemable non-controlling interest	`NetIncomeLossAttributableToRedeemableNoncontrollingInterest`	$-926.00K	USD	1 Quarter
Unrealized gain on interest rate swaps, net of tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$11.00K	USD	1 Quarter
Unrealized gain on interest rate swaps, net of tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$475.00K	USD	1 Quarter
Reclassification of interest rate swaps into earnings	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax`	$1.00K	USD	1 Quarter
Reclassification of interest rate swaps into earnings	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax`	$-17.00K	USD	1 Quarter
Balance at the end	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.72M	USD	Point-in-time
Balance at the end	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.25M	USD	Point-in-time
Balance at the end	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$14.88M	USD	Point-in-time
Balance at the end	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$14.71M	USD	Point-in-time
Balance at the end (in shares)	`CommonStockSharesOutstanding`	2.87M	shares	Point-in-time
Balance at the end (in shares)	`CommonStockSharesOutstanding`	2.87M	shares	Point-in-time
Balance at the end (in shares)	`TreasuryStockCommonShares`	156,327.00	shares	Point-in-time
Balance at the end (in shares)	`TreasuryStockCommonShares`	156,327.00	shares	Point-in-time

Comprehensive Income 16 line items

Line Item	Tag	Value	Unit	Period
Net (Loss) Income	`ProfitLoss`	$-802.00K	USD	1 Quarter
Net (Loss) Income	`ProfitLoss`	$327.00K	USD	1 Quarter
Foreign currency translation loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-49.00K	USD	1 Quarter
Foreign currency translation loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-529.00K	USD	1 Quarter
Unrealized gain on interest rate swaps	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$11.00K	USD	1 Quarter
Unrealized gain on interest rate swaps	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$475.00K	USD	1 Quarter
Reclassification of interest rate swaps into earnings	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$-1.00K	USD	1 Quarter
Reclassification of interest rate swaps into earnings	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$17.00K	USD	1 Quarter
Total Other Comprehensive Loss	`OtherComprehensiveIncomeLossNetOfTax`	$-37.00K	USD	1 Quarter
Total Other Comprehensive Loss	`OtherComprehensiveIncomeLossNetOfTax`	$-39.00K	USD	1 Quarter
Total Comprehensive (Loss) Income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$288.00K	USD	1 Quarter
Total Comprehensive (Loss) Income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-839.00K	USD	1 Quarter
Comprehensive Income Attributable to Non-controlling Interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$631.00K	USD	1 Quarter
Comprehensive Income Attributable to Non-controlling Interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$38.00K	USD	1 Quarter
Comprehensive (Loss) Income Attributable to Air T, Inc. Stockholders	`ComprehensiveIncomeNetOfTax`	$-1.47M	USD	1 Quarter
Comprehensive (Loss) Income Attributable to Air T, Inc. Stockholders	`ComprehensiveIncomeNetOfTax`	$250.00K	USD	1 Quarter

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