Company: AIRTP
Filing Date: 2025-06-27
Form Type: 10-K
Source: 0000353184-25-000044
Chunk: 128

Company: AIR T INC
Filing Date: 2025-06-27
Form: 10-K
Item: Item 1A
Chunk 128
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31, 2025Overnight Air CargoCommercial Aircraft, Engines and PartsGround Support EquipmentDigital SolutionsTotal Reportable SegmentsCorporate and otherTotal ConsolidatedDepreciation and amortization$489 $2,148 $268 $792 $3,697 $659 $4,356 Capital Expenditures418 14,911 217 36 15,582 97 15,679 Year ended March 31, 2024Overnight Air CargoCommercial Aircraft, Engines and PartsGround Support EquipmentDigital SolutionsTotal Reportable SegmentsCorporate and otherTotal ConsolidatedDepreciation and amortization$366 $756 $144 $804 $2,070 $728 $2,798 Capital Expenditures535 131 238 — 904 172 1,076 

20.    EARNINGS PER COMMON SHARE

Basic earnings per share has been calculated by dividing net income (loss) attributable to Air T, Inc. stockholders by the weighted average number of common shares outstanding during each period. For purposes of calculating diluted earnings per share, shares issuable under stock options were considered potential common shares and were included in the weighted average common shares unless they were anti-dilutive.The computation of earnings per common share is as follows (in thousands, except per share data):Year Ended March 31,20252024Net Loss$(5,411)$(4,684)Net income attributable to non-controlling interests(729)(2,135)Net loss attributable to Air T, Inc. Stockholders$(6,140)(6,819)Loss per share:Basic$(2.23)$(2.42)Diluted$(2.23)$(2.42)Antidilutive shares excluded from computation of loss per share — — Weighted Average Shares Outstanding:Basic2,7502,816Diluted2,7502,816

21.     COMMITMENTS AND CONTINGENCIES

Put/Call Options and EarnoutContrail entered into an Operating Agreement (the “Contrail Operating Agreement”) in connection with the acquisition of Contrail providing for the governance of and the terms of membership interests in Contrail and including put and call options with the Seller to require Contrail to purchase all of the Seller’s equity membership interests in Contrail, such options commencing on the fifth anniversary of the acquisition, which occurred on July 18, 2021. On May 30