10-Q Filing

AIR T INC CIK: 353184 Q2 2023

Filing Information

Form Type	10-Q
Accession Number	`0000353184-22-000086`
Period End Date	20220930
Filing Date	20221110
Fiscal Year	2023
Fiscal Period	Q2
XBRL Instance	airt-20220930_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 110 Income Statement 88 Cash Flow Statement 68 Stockholders Equity 51 Comprehensive Income 36

Balance Sheet 110 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`	$780.00K	USD	Point-in-time
Assets on lease, accumulated depreciation	`FinanceLeaseRightOfUseAssetAccumulatedAmortization`	$1.04M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.07M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.62M	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$6.01M	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$5.41M	USD	Point-in-time
Intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$2.95M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$788.00K	USD	Point-in-time
Intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$3.51M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$859.00K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$2.39M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$2.75M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Restricted investments	`RestrictedInvestmentsCurrent`	$1.69M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Restricted investments	`RestrictedInvestmentsCurrent`	$1.59M	USD	Point-in-time
Common stock par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.25	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,328 and $1,368	`AccountsReceivableNetCurrent`	$22.57M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,328 and $1,368	`AccountsReceivableNetCurrent`	$19.68M	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`	$3.89M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	4.00M	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$3.23M	USD	Point-in-time
Inventories, net	`InventoryNet`	$87.60M	USD	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
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	3.03M	shares	Point-in-time
Employee retention credit receivable	`EmployeeRetentionCreditReceivableCARESAct`	$9.14M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	2.85M	shares	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
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$12.93M	USD	Point-in-time
Treasury stock (in shares)	`TreasuryStockCommonShares`	156,327.00	shares	Point-in-time
Treasury stock (in shares)	`TreasuryStockCommonShares`	175,747.00	shares	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$10.11M	USD	Point-in-time
Treasury stock average price (in dollars per share)	`TreasuryStockAveragePricePerShare`	$19.07	USD	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`	$146.53M	USD	Point-in-time
Assets on lease or held for lease, net of accumulated depreciation of $1,041 and $780	`FinanceLeaseRightOfUseAsset`	$14.57M	USD	Point-in-time
Assets on lease or held for lease, net of accumulated depreciation of $1,041 and $780	`FinanceLeaseRightOfUseAsset`	$14.51M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $6,015 and $5,405	`PropertyPlantAndEquipmentNet`	$21.34M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $6,015 and $5,405	`PropertyPlantAndEquipmentNet`	$21.21M	USD	Point-in-time
Intangible assets, net of accumulated amortization of $3,512 and $2,947	`IntangibleAssetsNetExcludingGoodwill`	$10.72M	USD	Point-in-time
Intangible assets, net of accumulated amortization of $3,512 and $2,947	`IntangibleAssetsNetExcludingGoodwill`	$13.26M	USD	Point-in-time
Right-of-use ("ROU") assets	`OperatingLeaseRightOfUseAsset`	$7.35M	USD	Point-in-time
Right-of-use ("ROU") assets	`OperatingLeaseRightOfUseAsset`	$6.75M	USD	Point-in-time
Equity method investments	`EquityMethodInvestments`	$9.86M	USD	Point-in-time
Equity method investments	`EquityMethodInvestments`	$11.56M	USD	Point-in-time
Goodwill	`Goodwill`	$10.09M	USD	Point-in-time
Goodwill	`Goodwill`	$10.13M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.03M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$4.36M	USD	Point-in-time
Total Assets	`Assets`	$207.60M	USD	Point-in-time
Total Assets	`Assets`	$225.93M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$9.40M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.25M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$194.00K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$252.00K	USD	Point-in-time
Accrued expenses and other (Note 4)	`AccruedLiabilitiesCurrent`	$13.63M	USD	Point-in-time
Accrued expenses and other (Note 4)	`AccruedLiabilitiesCurrent`	$13.39M	USD	Point-in-time
Current portion of long-term debt	`LinesOfCreditCurrent`	$44.70M	USD	Point-in-time
Current portion of long-term debt	`LinesOfCreditCurrent`	$6.48M	USD	Point-in-time
Short-term lease liability	`OperatingLeaseLiabilityCurrent`	$1.34M	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`	$73.17M	USD	Point-in-time
Long-term debt	`LongTermLineOfCredit`	$129.33M	USD	Point-in-time
Long-term debt	`LongTermLineOfCredit`	$107.98M	USD	Point-in-time
Deferred income tax liabilities, net	`DeferredIncomeTaxLiabilitiesNet`	$3.17M	USD	Point-in-time
Deferred income tax liabilities, net	`DeferredIncomeTaxLiabilitiesNet`	$2.81M	USD	Point-in-time
Long-term lease liability	`OperatingLeaseLiabilityNoncurrent`	$6.21M	USD	Point-in-time
Long-term lease liability	`OperatingLeaseLiabilityNoncurrent`	$6.73M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$1.21M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$1.34M	USD	Point-in-time
Total Liabilities	`Liabilities`	$191.74M	USD	Point-in-time
Total Liabilities	`Liabilities`	$171.12M	USD	Point-in-time
Redeemable non-controlling interest	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$10.25M	USD	Point-in-time
Redeemable non-controlling interest	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$10.76M	USD	Point-in-time
Commitments and contingencies (Note 16)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 16)	`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, 3,026,495 and 3,022,745 shares issued, 2,850,748 and 2,866,418 shares outstanding	`CommonStockValue`	$756.00K	USD	Point-in-time
Common stock, $.25 par value; 4,000,000 shares authorized, 3,026,495 and 3,022,745 shares issued, 2,850,748 and 2,866,418 shares outstanding	`CommonStockValue`	$757.00K	USD	Point-in-time
Treasury stock, 175,747 shares at $19.07 and 156,327 shares at $19.20	`TreasuryStockCommonValue`	$3.35M	USD	Point-in-time
Treasury stock, 175,747 shares at $19.07 and 156,327 shares at $19.20	`TreasuryStockCommonValue`	$3.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$571.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$393.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$26.73M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$24.80M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-263.00K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$68.00K	USD	Point-in-time
Total Air T, Inc. Stockholders' Equity	`StockholdersEquity`	$22.84M	USD	Point-in-time
Total Air T, Inc. Stockholders' Equity	`StockholdersEquity`	$24.61M	USD	Point-in-time
Non-controlling Interests	`MinorityInterest`	$1.09M	USD	Point-in-time
Non-controlling Interests	`MinorityInterest`	$1.10M	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$14.71M	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.72M	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$23.94M	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$22.99M	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$14.88M	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.25M	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$225.93M	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$207.60M	USD	Point-in-time

Income Statement 88 line items

Line Item	Tag	Value	Unit	Period
Total revenue	`Revenues`	$80.21M	USD	2 Qtrs
Total revenue	`Revenues`	$111.55M	USD	2 Qtrs
Total revenue	`Revenues`	$60.69M	USD	1 Quarter
Total revenue	`Revenues`	$43.24M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$16.84M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$10.66M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$8.62M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$22.40M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$1.89M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$323.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$1.03M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$703.00K	USD	2 Qtrs
Inventory write-down	`InventoryWriteDown`	-	USD	1 Quarter
Inventory write-down	`InventoryWriteDown`	$1.02M	USD	2 Qtrs
Inventory write-down	`InventoryWriteDown`	$1.00M	USD	1 Quarter
Inventory write-down	`InventoryWriteDown`	-	USD	2 Qtrs
Asset impairment	`AssetImpairmentCharges`	-	USD	1 Quarter
Asset impairment	`AssetImpairmentCharges`	$485.00K	USD	1 Quarter
Asset impairment	`AssetImpairmentCharges`	$516.00K	USD	2 Qtrs
Asset impairment	`AssetImpairmentCharges`	-	USD	2 Qtrs
(Gain) Loss on sale of property and equipment	`GainLossOnDispositionOfAssets`	$-3.00K	USD	2 Qtrs
(Gain) Loss on sale of property and equipment	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
(Gain) Loss on sale of property and equipment	`GainLossOnDispositionOfAssets`	$2.00K	USD	2 Qtrs
(Gain) Loss on sale of property and equipment	`GainLossOnDispositionOfAssets`	$1.00K	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$110.54M	USD	2 Qtrs
Operating expenses	`OperatingExpenses`	$42.53M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$60.51M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$79.51M	USD	2 Qtrs
Operating Income	`OperatingIncomeLoss`	$704.00K	USD	1 Quarter
Operating Income	`OperatingIncomeLoss`	$1.01M	USD	2 Qtrs
Operating Income	`OperatingIncomeLoss`	$699.00K	USD	2 Qtrs
Operating Income	`OperatingIncomeLoss`	$179.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$2.10M	USD	2 Qtrs
Interest expense	`InterestExpense`	$3.82M	USD	2 Qtrs
Interest expense	`InterestExpense`	$2.00M	USD	1 Quarter
Interest expense	`InterestExpense`	$1.17M	USD	1 Quarter
Income from equity method investments	`IncomeLossFromEquityMethodInvestments`	$97.00K	USD	2 Qtrs
Income from equity method investments	`IncomeLossFromEquityMethodInvestments`	$798.00K	USD	2 Qtrs
Income from equity method investments	`IncomeLossFromEquityMethodInvestments`	$14.00K	USD	1 Quarter
Income from equity method investments	`IncomeLossFromEquityMethodInvestments`	$266.00K	USD	1 Quarter
Gain on forgiveness of Paycheck Protection Program (PPP) loan	`GainsLossesOnExtinguishmentOfDebt`	$8.33M	USD	2 Qtrs
Gain on forgiveness of Paycheck Protection Program (PPP) loan	`GainsLossesOnExtinguishmentOfDebt`	$8.33M	USD	1 Quarter
Gain on forgiveness of Paycheck Protection Program (PPP) loan	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on forgiveness of Paycheck Protection Program (PPP) loan	`GainsLossesOnExtinguishmentOfDebt`	-	USD	2 Qtrs
Other	`OtherNonoperatingIncomeExpense`	$-509.00K	USD	2 Qtrs
Other	`OtherNonoperatingIncomeExpense`	$159.00K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$-357.00K	USD	1 Quarter
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`	$-2.09M	USD	1 Quarter
Nonoperating income (expense)	`NonoperatingIncomeExpense`	$-3.53M	USD	2 Qtrs
(Loss) Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.52M	USD	2 Qtrs
(Loss) Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$8.04M	USD	1 Quarter
(Loss) Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.91M	USD	1 Quarter
(Loss) Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$8.36M	USD	2 Qtrs
Income Taxes (Benefit) Expense	`IncomeTaxExpenseBenefit`	$-380.00K	USD	2 Qtrs
Income Taxes (Benefit) Expense	`IncomeTaxExpenseBenefit`	$-572.00K	USD	1 Quarter
Income Taxes (Benefit) Expense	`IncomeTaxExpenseBenefit`	$38.00K	USD	1 Quarter
Income Taxes (Benefit) Expense	`IncomeTaxExpenseBenefit`	$33.00K	USD	2 Qtrs
Net (Loss) Income	`ProfitLoss`	$-1.34M	USD	1 Quarter
Net (Loss) Income	`ProfitLoss`	$8.33M	USD	2 Qtrs
Net (Loss) Income	`ProfitLoss`	$-2.14M	USD	2 Qtrs
Net (Loss) Income	`ProfitLoss`	$8.00M	USD	1 Quarter
Net Loss (Income) Attributable to Non-controlling Interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$486.00K	USD	2 Qtrs
Net Loss (Income) Attributable to Non-controlling Interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$448.00K	USD	1 Quarter
Net Loss (Income) Attributable to Non-controlling Interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$528.00K	USD	2 Qtrs
Net Loss (Income) Attributable to Non-controlling Interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-104.00K	USD	1 Quarter
Net (Loss) Income Attributable to Air T, Inc. Stockholders	`NetIncomeLoss`	$-1.23M	USD	1 Quarter
Net (Loss) Income Attributable to Air T, Inc. Stockholders	`NetIncomeLoss`	$7.84M	USD	2 Qtrs
Net (Loss) Income Attributable to Air T, Inc. Stockholders	`NetIncomeLoss`	$-2.67M	USD	2 Qtrs
Net (Loss) Income Attributable to Air T, Inc. Stockholders	`NetIncomeLoss`	$7.55M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.93	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$2.62	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.43	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$2.72	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.93	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.43	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$2.71	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$2.60	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.87M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.88M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.87M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.88M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.87M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.87M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.90M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.89M	shares	2 Qtrs

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net (Loss) Income	`ProfitLoss`	$-1.34M	USD	1 Quarter
Net (Loss) Income	`ProfitLoss`	$8.33M	USD	2 Qtrs
Net (Loss) Income	`ProfitLoss`	$-2.14M	USD	2 Qtrs
Net (Loss) Income	`ProfitLoss`	$8.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.89M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$703.00K	USD	2 Qtrs
Gain on forgiveness of PPP loan	`GainsLossesOnExtinguishmentOfDebt`	$8.33M	USD	2 Qtrs
Gain on forgiveness of PPP loan	`GainsLossesOnExtinguishmentOfDebt`	$8.33M	USD	1 Quarter
Gain on forgiveness of PPP loan	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on forgiveness of PPP loan	`GainsLossesOnExtinguishmentOfDebt`	-	USD	2 Qtrs
Inventory write-down	`InventoryWriteDown`	-	USD	1 Quarter
Inventory write-down	`InventoryWriteDown`	$1.02M	USD	2 Qtrs
Inventory write-down	`InventoryWriteDown`	$1.00M	USD	1 Quarter
Inventory write-down	`InventoryWriteDown`	-	USD	2 Qtrs
Asset impairment	`AssetImpairmentCharges`	-	USD	1 Quarter
Asset impairment	`AssetImpairmentCharges`	$485.00K	USD	1 Quarter
Asset impairment	`AssetImpairmentCharges`	$516.00K	USD	2 Qtrs
Asset impairment	`AssetImpairmentCharges`	-	USD	2 Qtrs
Other	`OtherNoncashIncomeExpense`	$190.00K	USD	2 Qtrs
Other	`OtherNoncashIncomeExpense`	$1.17M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.85M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$10.64M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$10.12M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$14.25M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$3.85M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.72M	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-3.78M	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$84.00K	USD	2 Qtrs
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$467.00K	USD	2 Qtrs
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$1.89M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-13.95M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-22.75M	USD	2 Qtrs
Investment in unconsolidated entities	`PaymentsToAcquireInterestInSubsidiariesAndAffiliates`	$1.19M	USD	2 Qtrs
Investment in unconsolidated entities	`PaymentsToAcquireInterestInSubsidiariesAndAffiliates`	$1.08M	USD	2 Qtrs
Capital expenditures related to property & equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$763.00K	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`	-	USD	2 Qtrs
Capital expenditures related to assets on lease or held for lease	`PaymentsRelatedToAssetsOnLease`	$28.00K	USD	2 Qtrs
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-202.00K	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`	$-1.78M	USD	2 Qtrs
Proceeds from lines of credit	`ProceedsFromLinesOfCredit`	$68.53M	USD	2 Qtrs
Proceeds from lines of credit	`ProceedsFromLinesOfCredit`	$36.74M	USD	2 Qtrs
Payments on lines of credit	`RepaymentsOfLinesOfCredit`	$31.89M	USD	2 Qtrs
Payments on lines of credit	`RepaymentsOfLinesOfCredit`	$55.32M	USD	2 Qtrs
Proceeds from term loan	`ProceedsFromIssuanceOfLongTermDebt`	$4.67M	USD	2 Qtrs
Proceeds from term loan	`ProceedsFromIssuanceOfLongTermDebt`	$8.18M	USD	2 Qtrs
Payments on term loan	`RepaymentsOfLongTermDebt`	$2.01M	USD	2 Qtrs
Payments on term loan	`RepaymentsOfLongTermDebt`	$4.11M	USD	2 Qtrs
Proceeds received from issuance of Trust Preferred Securities ("TruPs")	`ProceedsFromIssuanceOfTrustPreferredSecurities`	-	USD	2 Qtrs
Proceeds received from issuance of Trust Preferred Securities ("TruPs")	`ProceedsFromIssuanceOfTrustPreferredSecurities`	$7.81M	USD	2 Qtrs
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$110.00K	USD	2 Qtrs
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-518.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$16.76M	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`	$62.00K	USD	2 Qtrs
Effect of foreign currency exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$51.00K	USD	2 Qtrs
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.10M	USD	2 Qtrs
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-9.65M	USD	2 Qtrs
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`	$15.93M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.46M	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 END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.27M	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`	$9.46M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.37M	USD	Point-in-time

Stockholders Equity 51 line items

Line Item	Tag	Value	Unit	Period
Balance at the beginning	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$14.71M	USD	Point-in-time
Balance at the beginning	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.72M	USD	Point-in-time
Balance at the beginning	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$23.94M	USD	Point-in-time
Balance at the beginning	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$22.99M	USD	Point-in-time
Balance at the beginning	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$14.88M	USD	Point-in-time
Balance at the beginning	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.25M	USD	Point-in-time
Balance at the beginning (in shares)	`CommonStockSharesOutstanding`	2.85M	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`	175,747.00	shares	Point-in-time
Net income (loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$442.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$7.54M	USD	1 Quarter
Net income (loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-1.24M	USD	1 Quarter
Net income (loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-1.44M	USD	1 Quarter
Repurchase of common stock	`StockRepurchasedAndRetiredDuringPeriodValue`	$351.00K	USD	1 Quarter
Repurchase of common stock (in shares)	`StockRepurchasedAndRetiredDuringPeriodShares`	19,000.00	shares	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$21.00K	USD	1 Quarter
Exercises of stock options (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	3,000.00	shares	1 Quarter
Stock compensation expense	`StockIssuedDuringPeriodValueShareBasedCompensation`	$236.00K	USD	1 Quarter
Stock compensation expense	`StockIssuedDuringPeriodValueShareBasedCompensation`	$79.00K	USD	1 Quarter
Stock compensation expense	`StockIssuedDuringPeriodValueShareBasedCompensation`	$79.00K	USD	1 Quarter
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$103.00K	USD	1 Quarter
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-1.14M	USD	2 Qtrs
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-529.00K	USD	1 Quarter
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-49.00K	USD	1 Quarter
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$54.00K	USD	2 Qtrs
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-606.00K	USD	1 Quarter
Adjustment to fair value of redeemable non-controlling interest	`NetIncomeLossAttributableToRedeemableNoncontrollingInterest`	$-926.00K	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`	$-183.00K	USD	1 Quarter
Adjustment to fair value of redeemable non-controlling interest	`NetIncomeLossAttributableToRedeemableNoncontrollingInterest`	$188.00K	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
Unrealized gain on interest rate swaps, net of tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$57.00K	USD	2 Qtrs
Unrealized gain on interest rate swaps, net of tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$46.00K	USD	1 Quarter
Unrealized gain on interest rate swaps, net of tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$1.43M	USD	2 Qtrs
Unrealized gain on interest rate swaps, net of tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$957.00K	USD	1 Quarter
Reclassification of interest rate swaps into earnings	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax`	$-17.00K	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
Reclassification of interest rate swaps into earnings	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax`	$-17.00K	USD	1 Quarter
Balance at the end	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$14.71M	USD	Point-in-time
Balance at the end	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.72M	USD	Point-in-time
Balance at the end	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$23.94M	USD	Point-in-time
Balance at the end	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$22.99M	USD	Point-in-time
Balance at the end	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$14.88M	USD	Point-in-time
Balance at the end	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.25M	USD	Point-in-time
Balance at the end (in shares)	`CommonStockSharesOutstanding`	2.85M	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`	175,747.00	shares	Point-in-time

Comprehensive Income 36 line items

Line Item	Tag	Value	Unit	Period
Net (Loss) Income	`ProfitLoss`	$-1.34M	USD	1 Quarter
Net (Loss) Income	`ProfitLoss`	$8.33M	USD	2 Qtrs
Net (Loss) Income	`ProfitLoss`	$-2.14M	USD	2 Qtrs
Net (Loss) Income	`ProfitLoss`	$8.00M	USD	1 Quarter
Foreign currency translation (loss) income	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$103.00K	USD	1 Quarter
Foreign currency translation (loss) income	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-1.14M	USD	2 Qtrs
Foreign currency translation (loss) income	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-529.00K	USD	1 Quarter
Foreign currency translation (loss) income	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-49.00K	USD	1 Quarter
Foreign currency translation (loss) income	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$54.00K	USD	2 Qtrs
Foreign currency translation (loss) income	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-606.00K	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
Unrealized gain on interest rate swaps	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$57.00K	USD	2 Qtrs
Unrealized gain on interest rate swaps	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$46.00K	USD	1 Quarter
Unrealized gain on interest rate swaps	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$1.43M	USD	2 Qtrs
Unrealized gain on interest rate swaps	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$957.00K	USD	1 Quarter
Reclassification of interest rate swaps into earnings	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$-3.00K	USD	2 Qtrs
Reclassification of interest rate swaps into earnings	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$17.00K	USD	1 Quarter
Reclassification of interest rate swaps into earnings	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$34.00K	USD	2 Qtrs
Reclassification of interest rate swaps into earnings	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$-2.00K	USD	1 Quarter
Total Other Comprehensive Income	`OtherComprehensiveIncomeLossNetOfTax`	$108.00K	USD	2 Qtrs
Total Other Comprehensive Income	`OtherComprehensiveIncomeLossNetOfTax`	$331.00K	USD	2 Qtrs
Total Other Comprehensive Income	`OtherComprehensiveIncomeLossNetOfTax`	$368.00K	USD	1 Quarter
Total Other Comprehensive Income	`OtherComprehensiveIncomeLossNetOfTax`	$147.00K	USD	1 Quarter
Total Comprehensive (Loss) Income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-1.81M	USD	2 Qtrs
Total Comprehensive (Loss) Income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$8.44M	USD	2 Qtrs
Total Comprehensive (Loss) Income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-968.00K	USD	1 Quarter
Total Comprehensive (Loss) Income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$8.15M	USD	1 Quarter
Comprehensive Loss (Income) Attributable to Non-controlling Interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-104.00K	USD	1 Quarter
Comprehensive Loss (Income) Attributable to Non-controlling Interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$528.00K	USD	2 Qtrs
Comprehensive Loss (Income) Attributable to Non-controlling Interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$448.00K	USD	1 Quarter
Comprehensive Loss (Income) Attributable to Non-controlling Interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$486.00K	USD	2 Qtrs
Comprehensive (Loss) Income Attributable to Air T, Inc. Stockholders	`ComprehensiveIncomeNetOfTax`	$-864.00K	USD	1 Quarter
Comprehensive (Loss) Income Attributable to Air T, Inc. Stockholders	`ComprehensiveIncomeNetOfTax`	$-2.33M	USD	2 Qtrs
Comprehensive (Loss) Income Attributable to Air T, Inc. Stockholders	`ComprehensiveIncomeNetOfTax`	$7.70M	USD	1 Quarter
Comprehensive (Loss) Income Attributable to Air T, Inc. Stockholders	`ComprehensiveIncomeNetOfTax`	$7.95M	USD	2 Qtrs

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