Company: AIRTP
Filing Date: 2025-06-27
Form Type: 10-K
Source: 0000353184-25-000044
Chunk: 78

Company: AIR T INC
Filing Date: 2025-06-27
Form: 10-K
Item: Item 1A
Chunk 78
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,780 Repurchase of common stock(1,445)(876)Other758 (616)Net cash used in financing activities(4,801)(13,910)Effect of foreign currency exchange rates on cash and cash equivalents408 (16)NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH(1,086)753 CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD7,843 7,090 CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD16,757 7,843 SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES:Assumption of liabilities to acquire assets on lease720 — Non-cash contribution from non-controlling interest475 — Contingent earnout for Contrail Aviation Support, LLC ("Contrail") redeemed interest1,104 — Related-party note payable for Contrail redeemed interest4,570 — Due from CAM expense reimbursements converted into notes receivable - CAM2,500 — Equipment leased or held for lease transferred to inventory— 73 Equipment in inventory transferred to assets on lease112 260 SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:Operating cash payments for operating leases2,260 2,351 Cash paid during the year for interest8,437 3,891 Cash paid during the year for income taxes$983 $917 

1 The following table includes a reconciliation of "Cash and cash equivalents and restricted cash at end of period":

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Cash and cash equivalents$5,932 Restricted cash, current575 Restricted cash, long-term(a)250 Total cash and cash equivalents and restricted cash at end of period$6,757 

(a) Included in other assets on the consolidated balance sheets.

See notes to consolidated financial statements.

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AIR T, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF EQUITY

(In thousands)Common StockTreasury StockSharesAmountSharesAmountAdditionalPaid-InCapitalRetainedEarningsAccumulatedOtherComprehensiveIncome (Loss)Non-controllingInterests*TotalEquityBalance, March 31, 20233,027 $757 208 $(4,083)$728 $13,686 $816 $1,078 $12,982