Company: AIRTP
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0000353184-25-000126
Chunk: 32

Company: AIR T INC
Filing Date: 2025-11-12
Form: 10-Q
Item: Item 8
Chunk 32
---
287 708 453 Commercial aircraft, engines and parts3,093 2,106 5,335 4,306 Corporate and other9 3 25 18 Leasing RevenueGround support equipment— 15 — 30 Commercial aircraft, engines and parts204 475 1,958 514 Corporate and other414 405 869 869 Software ServicesDigital solutions2,209 1,836 4,305 3,515 OtherOvernight air cargo18 80 138 106 Ground support equipment168 130 481 176 Commercial aircraft, engines and parts205 180 408 572 Corporate and other754 377 1,271 524 Total$64,150 $81,242 $135,020 $147,654 See Note 16 for the Company's disaggregated revenues by geographic region and Note 17 for the Company’s disaggregated revenues by segment. These notes disaggregate revenue recognized from contracts with customers into categories that depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors.Contract Balances and CostsContract liabilities relate to deferred revenue, our unconditional right to receive consideration in advance of performance with respect to subscription revenue and advanced customer deposits with respect to product sales. The following table presents outstanding contract liabilities as of April 1, 2025 and September 30, 2025 and the amount of contract liabilities that were recognized as revenue during the six-month period ended September 30, 2025 (in thousands):Outstanding contract liabilitiesOutstanding contract liabilities as of April 1, 2025Recognized as RevenueAs of September 30, 2025$7,009 As of April 1, 2025$4,199 For the six months ended September 30, 2025$(2,878)

16

4.     Accrued Expenses and Other

(In thousands)September 30,2025March 31,2025Salaries, wages and related items$6,196 $6,235 Profit sharing and bonus1,961 2,980 Other deposits2,260 513 Deferred income4,749 3,686 Accrued insurance payable2,730 1,336 Accrued interest expense1,920 955 Other2,239 986 Total$22,055 $16,691 

5.