10-Q Filing

AIR T INC CIK: 353184 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001628280-19-010749`
Period End Date	20190630
Filing Date	20190814
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	airt-20190630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 130 Income Statement 72 Cash Flow Statement 110 Stockholders Equity 20 Comprehensive Income 15

Balance Sheet 130 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents (Delphax $9,430 and $12,315)	`CashAndCashEquivalentsAtCarryingValue`	$12.52M	USD	Point-in-time
Cash and cash equivalents (Delphax $9,430 and $12,315)	`CashAndCashEquivalentsAtCarryingValue`	$16.20M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$1.75M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$1.76M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$123.41K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$68.98K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$574.09K	USD	Point-in-time
Restricted investments	`RestrictedInvestmentsCurrent`	$830.92K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$754.11K	USD	Point-in-time
Restricted investments	`RestrictedInvestmentsCurrent`	$796.96K	USD	Point-in-time
Assets on lease, accumulated depreciation	`PropertySubjectToOrAvailableForOperatingLeaseAccumulatedDepreciation`	$6.40M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $574,086 and $754,108 (Delphax $291,337 and $294,296)	`AccountsReceivableNetCurrent`	$19.08M	USD	Point-in-time
Assets on lease, accumulated depreciation	`PropertySubjectToOrAvailableForOperatingLeaseAccumulatedDepreciation`	$6.69M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $574,086 and $754,108 (Delphax $291,337 and $294,296)	`AccountsReceivableNetCurrent`	$23.72M	USD	Point-in-time
Notes and other receivables-current	`NotesAndLoansReceivableNetCurrent`	$5.03M	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$5.98M	USD	Point-in-time
Notes and other receivables-current	`NotesAndLoansReceivableNetCurrent`	$7.17M	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$5.67M	USD	Point-in-time
Intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$2.21M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$158.45K	USD	Point-in-time
Intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$2.16M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$883.13K	USD	Point-in-time
Inventories, net	`InventoryNet`	$29.97M	USD	Point-in-time
Inventories, net	`InventoryNet`	$36.53M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.52M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.20M	USD	Point-in-time
Prepaid expenses and other (Delphax $9,672 and $58,164)	`PrepaidExpenseAndOtherAssetsCurrent`	$1.88M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$1.88M	USD	Point-in-time
Prepaid expenses and other (Delphax $9,672 and $58,164)	`PrepaidExpenseAndOtherAssetsCurrent`	$1.80M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$1.80M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$88.92M	USD	Point-in-time
Other tax receivables - long term	`NotesAndLoansReceivableNetNoncurrent`	-	USD	Point-in-time
Other tax receivables - long term	`NotesAndLoansReceivableNetNoncurrent`	$311.00K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$71.35M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$12.55M	USD	Point-in-time
Assets on lease, net of accumulated depreciation of $6,397,157 and $6,688,630	`PropertySubjectToOrAvailableForOperatingLeaseNet`	$17.98M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.30M	USD	Point-in-time
Assets on lease, net of accumulated depreciation of $6,397,157 and $6,688,630	`PropertySubjectToOrAvailableForOperatingLeaseNet`	$25.16M	USD	Point-in-time
Accrued payroll and related items	`EmployeeRelatedLiabilitiesCurrent`	$2.73M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $5,977,699 and $5,665,498	`PropertyPlantAndEquipmentNet`	$4.82M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $5,977,699 and $5,665,498	`PropertyPlantAndEquipmentNet`	$4.75M	USD	Point-in-time
Accrued payroll and related items	`EmployeeRelatedLiabilitiesCurrent`	$8.91M	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$3.91M	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$2.95M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$10.07M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Cash surrender value of life insurance policies, net of policy loans	`CashSurrenderValueOfLifeInsurance`	$122.06K	USD	Point-in-time
Cash surrender value of life insurance policies, net of policy loans	`CashSurrenderValueOfLifeInsurance`	$101.26K	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Other tax receivables-long-term (Delphax $0 and $311,000)	`NotesAndLoansReceivableNetNoncurrent`	-	USD	Point-in-time
Other tax receivables-long-term (Delphax $0 and $311,000)	`NotesAndLoansReceivableNetNoncurrent`	$311.00K	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
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$547.99K	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$600.30K	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
Investments in funds	`InvestmentsInFundsNoncurrent`	$318.02K	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
Investments in funds	`InvestmentsInFundsNoncurrent`	$463.89K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	3.02M	shares	Point-in-time
Investments in securities	`AvailableForSaleSecuritiesNoncurrent`	$557.33K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	2.02M	shares	Point-in-time
Investments in securities	`AvailableForSaleSecuritiesNoncurrent`	$621.61K	USD	Point-in-time
Equity method investments	`EquityMethodInvestments`	$5.61M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	3.02M	shares	Point-in-time
Equity method investments	`EquityMethodInvestments`	$4.48M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	2.02M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$491.33K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$297.51K	USD	Point-in-time
Intangible assets, net of accumulated amortization of $2,207,571 and $2,156,192	`IntangibleAssetsNetExcludingGoodwill`	$1.16M	USD	Point-in-time
Intangible assets, net of accumulated amortization of $2,207,571 and $2,156,192	`IntangibleAssetsNetExcludingGoodwill`	$1.23M	USD	Point-in-time
Goodwill	`Goodwill`	$4.42M	USD	Point-in-time
Goodwill	`Goodwill`	$4.42M	USD	Point-in-time
Total Assets	`Assets`	$115.14M	USD	Point-in-time
Total Assets	`Assets`	$133.65M	USD	Point-in-time
Accounts payable (Delphax $96,109 and $2,134,053)	`AccountsPayableCurrent`	$12.55M	USD	Point-in-time
Accounts payable (Delphax $96,109 and $2,134,053)	`AccountsPayableCurrent`	$13.30M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$661.69K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$550.73K	USD	Point-in-time
Accrued payroll and related items (Delphax $401,275 and $3,146,395 )	`EmployeeRelatedLiabilitiesCurrent`	$2.73M	USD	Point-in-time
Accrued payroll and related items (Delphax $401,275 and $3,146,395 )	`EmployeeRelatedLiabilitiesCurrent`	$8.91M	USD	Point-in-time
Customer deposits	`ContractWithCustomerLiabilityCustomerDepositsCurrent`	$2.79M	USD	Point-in-time
Customer deposits	`ContractWithCustomerLiabilityCustomerDepositsCurrent`	$1.52M	USD	Point-in-time
Accrued insurance liability	`AccruedInsuranceCurrent`	$1.25M	USD	Point-in-time
Accrued insurance liability	`AccruedInsuranceCurrent`	$1.12M	USD	Point-in-time
Other accrued expenses (Delphax $0 and $11,312)	`OtherAccruedLiabilitiesCurrent`	$3.91M	USD	Point-in-time
Other accrued expenses (Delphax $0 and $11,312)	`OtherAccruedLiabilitiesCurrent`	$2.95M	USD	Point-in-time
Deferred income	`ContractWithCustomerLiabilityDeferredIncomeCurrent`	$341.10K	USD	Point-in-time
Deferred income	`ContractWithCustomerLiabilityDeferredIncomeCurrent`	$5.60M	USD	Point-in-time
Current portion of long-term debt	`LinesOfCreditCurrent`	$27.77M	USD	Point-in-time
Current portion of long-term debt	`LinesOfCreditCurrent`	$24.74M	USD	Point-in-time
Short-term lease liability	`OperatingLeaseLiabilityCurrent`	$2.49M	USD	Point-in-time
Short-term lease liability	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$52.79M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$60.39M	USD	Point-in-time
Long-term debt	`LongTermLineOfCredit`	$36.29M	USD	Point-in-time
Long-term debt	`LongTermLineOfCredit`	$32.92M	USD	Point-in-time
Long-term lease liability	`OperatingLeaseLiabilityNoncurrent`	$8.07M	USD	Point-in-time
Long-term lease liability	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$596.60K	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$1.23M	USD	Point-in-time
Total Liabilities	`Liabilities`	$105.98M	USD	Point-in-time
Total Liabilities	`Liabilities`	$86.31M	USD	Point-in-time
Redeemable non-controlling interest	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$5.48M	USD	Point-in-time
Redeemable non-controlling interest	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$6.68M	USD	Point-in-time
Commitments and contingencies (Note 17)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 17)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $1.00 par value, 50,000 shares authorized	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $1.00 par value, 50,000 shares authorized	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $.25 par value; 4,000,000 shares authorized, 3,015,087 and 2,022,637 shares issued and outstanding	`CommonStockValue`	$753.77K	USD	Point-in-time
Common stock, $.25 par value; 4,000,000 shares authorized, 3,015,087 and 2,022,637 shares issued and outstanding	`CommonStockValue`	$505.66K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.87M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.63M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$17.97M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$21.19M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-205.09K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-411.48K	USD	Point-in-time
Total Air T, Inc. Stockholders' Equity	`StockholdersEquity`	$19.94M	USD	Point-in-time
Total Air T, Inc. Stockholders' Equity	`StockholdersEquity`	$24.36M	USD	Point-in-time
Non-controlling Interests	`MinorityInterest`	$-1.00M	USD	Point-in-time
Non-controlling Interests	`MinorityInterest`	$1.05M	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$24.24M	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$27.07M	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$20.99M	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$23.36M	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$115.14M	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$133.65M	USD	Point-in-time

Income Statement 72 line items

Line Item	Tag	Value	Unit	Period
Total	`RevenueFromContractWithCustomerExcludingAssessedTax`	$60.87M	USD	1 Quarter
Total	`RevenueFromContractWithCustomerExcludingAssessedTax`	$55.70M	USD	1 Quarter
Overnight air cargo	`OvernightAirCargo`	$16.52M	USD	1 Quarter
Overnight air cargo	`OvernightAirCargo`	$15.17M	USD	1 Quarter
Ground equipment sales	`GroundEquipmentExpense`	$9.73M	USD	1 Quarter
Ground equipment sales	`GroundEquipmentExpense`	$4.94M	USD	1 Quarter
Ground support services	`GroundSupportExpenses`	$7.81M	USD	1 Quarter
Ground support services	`GroundSupportExpenses`	$6.96M	USD	1 Quarter
Printing equipment and maintenance	`PrintingEquipmentAndMaintenanceExpense`	$145.53K	USD	1 Quarter
Printing equipment and maintenance	`PrintingEquipmentAndMaintenanceExpense`	$39.05K	USD	1 Quarter
Commercial jet engines and parts	`CommercialJetEngineExpense`	$20.12M	USD	1 Quarter
Commercial jet engines and parts	`CommercialJetEngineExpense`	$8.29M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$10.92M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$8.58M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$1.49M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$2.03M	USD	1 Quarter
Impairment	`AssetImpairmentCharges`	$6.69K	USD	1 Quarter
Impairment	`AssetImpairmentCharges`	$10.35K	USD	1 Quarter
Loss on sale of property and equipment	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
Loss on sale of property and equipment	`GainLossOnDispositionOfAssets`	$-2.07K	USD	1 Quarter
Operating Expenses	`OperatingExpenses`	$58.26M	USD	1 Quarter
Operating Expenses	`OperatingExpenses`	$54.49M	USD	1 Quarter
Operating Income	`OperatingIncomeLoss`	$1.21M	USD	1 Quarter
Operating Income	`OperatingIncomeLoss`	$2.60M	USD	1 Quarter
Gain on sale of marketable securities	`MarketableSecuritiesGainLossExcludingOtherThanTemporaryImpairments`	-	USD	1 Quarter
Gain on sale of marketable securities	`MarketableSecuritiesGainLossExcludingOtherThanTemporaryImpairments`	$36.46K	USD	1 Quarter
Foreign currency gain (loss), net	`ForeignCurrencyTransactionGainLossBeforeTax`	$35.76K	USD	1 Quarter
Foreign currency gain (loss), net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-2.18K	USD	1 Quarter
Other-than-temporary impairment loss on investments	`ImpairmentOfInvestments`	$814.56K	USD	1 Quarter
Other-than-temporary impairment loss on investments	`ImpairmentOfInvestments`	-	USD	1 Quarter
Other investment income (loss), net	`InvestmentIncomeNet`	$162.96K	USD	1 Quarter
Other investment income (loss), net	`InvestmentIncomeNet`	$-315.51K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.02M	USD	1 Quarter
Interest expense	`InterestExpense`	$707.20K	USD	1 Quarter
Unrealized gain on interest rate swap	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	$97.34K	USD	1 Quarter
Unrealized gain on interest rate swap	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	-	USD	1 Quarter
Gain on settlement of bankruptcy	`GainOnSettlementOfBankruptcy`	-	USD	1 Quarter
Gain on settlement of bankruptcy	`GainOnSettlementOfBankruptcy`	$4.51M	USD	1 Quarter
Bargain purchase acquisition gain	`BusinessCombinationBargainPurchaseGainRecognizedAmountNet`	$1.98M	USD	1 Quarter
Bargain purchase acquisition gain	`BusinessCombinationBargainPurchaseGainRecognizedAmountNet`	$34.24K	USD	1 Quarter
Income (loss) from equity method investments	`IncomeLossFromEquityMethodInvestments`	$-320.58K	USD	1 Quarter
Income (loss) from equity method investments	`IncomeLossFromEquityMethodInvestments`	$9.18K	USD	1 Quarter
Nonoperating Income (Expense)	`NonoperatingIncomeExpense`	$2.62M	USD	1 Quarter
Nonoperating Income (Expense)	`NonoperatingIncomeExpense`	$1.07M	USD	1 Quarter
Income Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.83M	USD	1 Quarter
Income Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.67M	USD	1 Quarter
Income Tax Expense (Benefit)	`IncomeTaxExpenseBenefit`	$-324.00K	USD	1 Quarter
Income Tax Expense (Benefit)	`IncomeTaxExpenseBenefit`	$387.00K	USD	1 Quarter
Net Income	`ProfitLoss`	$4.16M	USD	1 Quarter
Net Income	`ProfitLoss`	$3.28M	USD	1 Quarter
Net (Income) Loss Attributable to Non-controlling Interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$453.42K	USD	1 Quarter
Net (Income) Loss Attributable to Non-controlling Interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$2.37M	USD	1 Quarter
Net Income Attributable to Air T, Inc. Stockholders	`NetIncomeLoss`	$1.78M	USD	1 Quarter
Net Income Attributable to Air T, Inc. Stockholders	`NetIncomeLoss`	$1.34M	USD	Annual
Net Income Attributable to Air T, Inc. Stockholders	`NetIncomeLoss`	$2.28M	USD	Annual
Net Income Attributable to Air T, Inc. Stockholders	`NetIncomeLoss`	$2.83M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.79	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.74	USD	Annual
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.92	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.44	USD	Annual
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.79	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.44	USD	Annual
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.92	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.74	USD	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	3.05M	shares	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	3.06M	shares	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.25M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	3.07M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.07M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.07M	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.06M	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.26M	shares	1 Quarter

Cash Flow Statement 110 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$4.16M	USD	1 Quarter
Net income	`ProfitLoss`	$3.28M	USD	1 Quarter
(Gain) Loss on sale of marketable securities	`MarketableSecuritiesRealizedGainLossExcludingOtherThanTemporaryImpairments`	$-10.83K	USD	1 Quarter
(Gain) Loss on sale of marketable securities	`MarketableSecuritiesRealizedGainLossExcludingOtherThanTemporaryImpairments`	$36.46K	USD	1 Quarter
Loss on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-2.07K	USD	1 Quarter
Loss on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-1.66K	USD	1 Quarter
Change in inventory reserves	`IncreaseDecreaseInInventoryReserve`	$-91.55K	USD	1 Quarter
Change in inventory reserves	`IncreaseDecreaseInInventoryReserve`	$4.09K	USD	1 Quarter
Change in accounts receivable reserves	`IncreaseDecreaseInAccountsReceivableReserves`	$45.63K	USD	1 Quarter
Change in accounts receivable reserves	`IncreaseDecreaseInAccountsReceivableReserves`	$180.02K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.03M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.50M	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	-	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$73.47K	USD	1 Quarter
Impairment of investment	`EquityMethodInvestmentOtherThanTemporaryImpairment`	-	USD	1 Quarter
Impairment of investment	`EquityMethodInvestmentOtherThanTemporaryImpairment`	$814.56K	USD	1 Quarter
Change in cash surrender value of life insurance	`IncreaseDecreaseInInsuranceAssets`	$-20.80K	USD	1 Quarter
Change in cash surrender value of life insurance	`IncreaseDecreaseInInsuranceAssets`	$15.78K	USD	1 Quarter
Gain on settlement of bankruptcy	`GainOnSettlementOfBankruptcy`	-	USD	1 Quarter
Gain on settlement of bankruptcy	`GainOnSettlementOfBankruptcy`	$4.51M	USD	1 Quarter
Gain on bargain purchase	`BusinessCombinationBargainPurchaseGainRecognizedAmountNet`	$1.98M	USD	1 Quarter
Gain on bargain purchase	`BusinessCombinationBargainPurchaseGainRecognizedAmountNet`	$34.24K	USD	1 Quarter
Change in warranty reserve	`ProductWarrantyExpense`	$-980.00	USD	1 Quarter
Change in warranty reserve	`ProductWarrantyExpense`	$335.63K	USD	1 Quarter
Unrealized loss on marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$-6.11K	USD	1 Quarter
Unrealized loss on marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$-322.48K	USD	1 Quarter
Unrealized gain on interest rate swap	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	$97.34K	USD	1 Quarter
Unrealized gain on interest rate swap	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-29.56K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$4.25M	USD	1 Quarter
Notes receivable and other non-trade receivables	`IncreaseDecreaseInReceivables`	$2.22M	USD	1 Quarter
Notes receivable and other non-trade receivables	`IncreaseDecreaseInReceivables`	$2.05M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-2.37M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-11.32M	USD	1 Quarter
Prepaid expense and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-288.29K	USD	1 Quarter
Prepaid expense and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-677.01K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.80M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$3.94M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-1.98M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$3.90M	USD	1 Quarter
Income taxes payable/receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-205.58K	USD	1 Quarter
Income taxes payable/receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$835.65K	USD	1 Quarter
Non-current liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$94.48K	USD	1 Quarter
Non-current liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$75.53K	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$1.23M	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$11.43M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.39M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$14.72M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$27.21K	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$784.44K	USD	1 Quarter
Proceeds from sale of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$309.01K	USD	1 Quarter
Proceeds from sale of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	-	USD	1 Quarter
Acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$3.33M	USD	1 Quarter
Acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$500.00K	USD	1 Quarter
Cash used for equity method investments	`PaymentsToAcquireEquityMethodInvestments`	-	USD	1 Quarter
Cash used for equity method investments	`PaymentsToAcquireEquityMethodInvestments`	$197.53K	USD	1 Quarter
Investment in reinsurance entity	`PaymentsToAcquireHeldToMaturitySecurities`	$2.00M	USD	1 Quarter
Investment in reinsurance entity	`PaymentsToAcquireHeldToMaturitySecurities`	-	USD	1 Quarter
Capital expenditures related to property & equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$459.57K	USD	1 Quarter
Capital expenditures related to property & equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$297.97K	USD	1 Quarter
Capital expenditures related to assets on lease	`PaymentsRelatedToAssetsOnLease`	$3.30M	USD	1 Quarter
Capital expenditures related to assets on lease	`PaymentsRelatedToAssetsOnLease`	-	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$33.99K	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$50.60K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.78M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.72M	USD	1 Quarter
Proceeds from lines of credit	`ProceedsFromLinesOfCredit`	$24.45M	USD	1 Quarter
Proceeds from lines of credit	`ProceedsFromLinesOfCredit`	$28.93M	USD	1 Quarter
Payments on lines of credit	`RepaymentsOfLinesOfCredit`	$17.14M	USD	1 Quarter
Payments on lines of credit	`RepaymentsOfLinesOfCredit`	$38.16M	USD	1 Quarter
Proceeds from term loan	`ProceedsFromIssuanceOfLongTermDebt`	$3.40M	USD	1 Quarter
Proceeds from term loan	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	1 Quarter
Payments on term loan	`RepaymentsOfLongTermDebt`	$1.40M	USD	1 Quarter
Payments on term loan	`RepaymentsOfLongTermDebt`	$7.03M	USD	1 Quarter
Debt issuance costs	`PaymentsOfFinancingCosts`	$46.32K	USD	1 Quarter
Debt issuance costs	`PaymentsOfFinancingCosts`	$35.70K	USD	1 Quarter
Distribution to non-controlling member	`PaymentsToMinorityShareholders`	$47.05K	USD	1 Quarter
Distribution to non-controlling member	`PaymentsToMinorityShareholders`	$115.00K	USD	1 Quarter
Payments for repurchase of stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Payments for repurchase of stock	`PaymentsForRepurchaseOfCommonStock`	$126.32K	USD	1 Quarter
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	-	USD	1 Quarter
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	$2.02M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-7.31M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.01M	USD	1 Quarter
Effect of foreign currency exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.64K	USD	1 Quarter
Effect of foreign currency exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.07K	USD	1 Quarter
NET INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$692.46K	USD	1 Quarter
NET INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$3.62M	USD	1 Quarter
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$5.77M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$12.65M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$5.07M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$16.27M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$5.77M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$12.65M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$5.07M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$16.27M	USD	Point-in-time
Non-cash capital expenditures related to property & equipment	`CapitalExpendituresIncurredButNotYetPaid`	$71.70K	USD	1 Quarter
Non-cash capital expenditures related to property & equipment	`CapitalExpendituresIncurredButNotYetPaid`	-	USD	1 Quarter
Equipment leased to customers transferred to inventory	`EquipmentLeasedToCustomersTransferredToInventory`	$8.82M	USD	1 Quarter
Equipment leased to customers transferred to inventory	`EquipmentLeasedToCustomersTransferredToInventory`	$234.15K	USD	1 Quarter
Issuance of Debt - Trust Preferred Securities	`NotesIssued1`	$4.00M	USD	1 Quarter
Issuance of Debt - Trust Preferred Securities	`NotesIssued1`	-	USD	1 Quarter
Issuance of warrant liability	`StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants`	$-840.00K	USD	1 Quarter
Issuance of warrant liability	`StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants`	-	USD	1 Quarter
Exercise of warrants	`ExerciseOfWarrantsNoncash`	$84.09K	USD	1 Quarter
Exercise of warrants	`ExerciseOfWarrantsNoncash`	-	USD	1 Quarter
Interest	`InterestPaidNet`	$678.61K	USD	1 Quarter
Interest	`InterestPaidNet`	$629.26K	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	$29.63K	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	$181.42K	USD	1 Quarter

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$24.24M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$27.07M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$20.99M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$23.36M	USD	Point-in-time
Net income	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$3.82M	USD	1 Quarter
Net income	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$2.78M	USD	1 Quarter
Reclassification of unrealized loss on marketable securities, net of tax	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForWritedownOfSecuritiesNetOfTax`	-	USD	1 Quarter
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$47.66K	USD	1 Quarter
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-18.13K	USD	1 Quarter
Repurchase of Common Stock	`StockRepurchasedAndRetiredDuringPeriodValue`	$126.32K	USD	1 Quarter
Issuance of Debt - Trust Preferred Securities	`StockholdersEquityIssuanceOfDebt`	$4.00M	USD	1 Quarter
Issuance of Warrants	`StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants`	$-840.00K	USD	1 Quarter
Issuance of Warrants	`StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants`	-	USD	1 Quarter
Unrealized loss on interest rate swaps, net of tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	-	USD	1 Quarter
Unrealized loss on interest rate swaps, net of tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$-176.04K	USD	1 Quarter
Adjustment to fair value of redeemable non-controlling interest	`NetIncomeLossAttributableToRedeemableNoncontrollingInterest`	$985.02K	USD	1 Quarter
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$24.24M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$27.07M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$20.99M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$23.36M	USD	Point-in-time

Comprehensive Income 15 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$4.16M	USD	1 Quarter
Net income	`ProfitLoss`	$3.28M	USD	1 Quarter
Unrealized loss on interest rate swaps, tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax`	$52.32K	USD	1 Quarter
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$47.66K	USD	1 Quarter
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-18.13K	USD	1 Quarter
Unrealized loss on interest rate swaps, net of tax of $52,316 and $0 respectively	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	-	USD	1 Quarter
Unrealized loss on interest rate swaps, net of tax of $52,316 and $0 respectively	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$-176.04K	USD	1 Quarter
Total Other Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-194.17K	USD	1 Quarter
Total Other Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$47.66K	USD	1 Quarter
Total Comprehensive Income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$3.33M	USD	1 Quarter
Total Comprehensive Income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$3.96M	USD	1 Quarter
Comprehensive Income Attributable to Non-controlling Interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$470.57K	USD	1 Quarter
Comprehensive Income Attributable to Non-controlling Interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$2.39M	USD	1 Quarter
Comprehensive Income Attributable to Air T, Inc. Stockholders	`ComprehensiveIncomeNetOfTax`	$2.86M	USD	1 Quarter
Comprehensive Income Attributable to Air T, Inc. Stockholders	`ComprehensiveIncomeNetOfTax`	$1.58M	USD	1 Quarter

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