Company: AIRTP
Filing Date: 2025-06-27
Form Type: 10-K
Source: 0000353184-25-000044
Chunk: 325

Company: AIR T INC
Filing Date: 2025-06-27
Form: 10-K
Item: Item 8
Chunk 325
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 cash575 743 Restricted investments683 1,392 Accounts receivable, net of allowance for doubtful accounts of $1,338 and $1,42023,917 22,911 Income tax receivable681 561 Inventories, net38,516 60,720 Prepaid expenses3,103 2,351 Due from Crestone Asset Management, LLC for expense reimbursements180 3,093 Other current assets4,498 3,475 Total Current Assets78,507 102,877 Notes Receivable - Lendway3,350 — Notes Receivable - CAM2,500 — Assets on lease or held for lease, net of accumulated depreciation of $1,451 and $814,662 252 Property and equipment, net of accumulated depreciation of $9,240 and $7,70520,285 20,861 Intangible assets, net of accumulated amortization of $6,330 and $5,11910,020 10,978 Right-of-use ("ROU") assets13,274 11,376 Equity method investments19,003 16,653 Other assets (includes $0 and $1,909 measured at fair value)1,635 3,630 Goodwill10,542 10,540 Total Assets173,778 177,167 LIABILITIES AND STOCKHOLDERS' EQUITYCurrent Liabilities:Accounts payable$17,782 $15,072 Accrued expenses and other (Note 10)16,691 15,650 Current portion of long-term debt 9,099 14,358 Current portion of long-term debt - related party (Note 12)1,282 — Current portion of earnout liability430 — Short-term lease liability2,377 1,761 Total Current Liabilities47,661 46,841 Long-term debt 101,226 98,568 Long-term debt - related party (Note 12)3,288 — Deferred income tax liabilities, net2,249 2,447 Long-term lease liability 11,843 10,515 Long-term earnout liability1,109 — Other non-current liabilities (includes $44 and $0 measured at fair value)866 — Total Liabilities168,242 158,371 Redeemable non-controlling interest7,054