Company: AIRTP
Filing Date: 2025-06-27
Form Type: 10-K
Source: 0000353184-25-000044
Chunk: 127

Company: AIR T INC
Filing Date: 2025-06-27
Form: 10-K
Item: Item 1A
Chunk 127
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5,783 $284,032 Intersegment revenue126 2,150 — — 2,276 115,672 127,685 37,168 5,783 286,308 Reconciliation of revenueOther revenue13,957 Elimination of intersegment revenue2(3,431)Total consolidated revenue$286,834 Cost of sales:Cost of sales from external sources$97,690 $99,222 $31,834 $1,710 Intersegment cost of sales137 2,025 — 1 97,827 101,247 31,834 1,711 Less:3General and administrative$10,734 $21,792 $6,743 $3,929 Other segment items4366 756 144 804 Segment profit (loss)6,745 3,890 (1,553)(661)$8,421 Reconciliation of profit (loss)Other revenue13,957 Other cost of sales1(1,202)Other expenses1(4,214)Interest expense(6,916)Income from equity method investments1,689 Other non-operating expense8 Other corporate expenses5(6,162)Elimination of intersegment profits464 Loss before income taxes$(3,955)

1 Revenue, cost of sales, and expenses from segments below the quantitative thresholds or that do not constitute a business segment are attributable to an investment advisory business, a laser printer manufacturer, and a commercial property owned by the Company.

2 Elimination of intersegment revenue includes eliminations related to Other revenue in the tables above totaling $1,155 thousand for the fiscal year ended March 31, 2024. After eliminations, Other revenue from third parties is $2,802 thousand for the fiscal year ended March 31, 2024.

3 The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker. Intersegment expenses are included within the amounts shown.

4 Other segment items consist of depreciation and amortization and remeasurement of the earnout liability.

5 Other corporate expenses consist of unallocated expenses that are related to the activities of Corporate and other in support of the overall business. Unallocated expenses include, but are not limited to: shared services that are not allocated, costs associated with the corporate headquarters and, expenses related to identifying and pursuing new corporate business initiatives.

87

Year ended March