Company: AIRTP
Filing Date: 2025-06-27
Form Type: 10-K
Source: 0000353184-25-000044
Chunk: 102

Company: AIR T INC
Filing Date: 2025-06-27
Form: 10-K
Item: Item 1A
Chunk 102
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2023 are as follows (in thousands):December 31,20242023Current assets$48,327 $49,101 Noncurrent assets119,881 40,971 Total assets168,208 90,072 Current liabilities34,594 28,656 Noncurrent liabilities101,151 19,262 Total liabilities135,745 47,918 Noncontrolling interests2,841 689 The summarized income statement financial information for the Company's equity method investees accounted for without a reporting lag for the fiscal years ended March 31, 2025 and 2024 are as follows (in thousands):

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Year Ended March 31,20252024Revenue$31,516 $27,306 Gross Profit11,949 8,356 Operating (loss) income(228)1,311 Net income (loss)6,374 (1,552)Net income (loss) attributable to Air T, Inc. stockholders$3,054 $(80)Summarized balance sheet financial information for the Company's equity method investees accounted for on a three month lag as of March 31, 2025 and 2024 are as follows (in thousands):March 31,20252024Current assets$41,947 $37,275 Noncurrent assets26,856 28,460 Total assets68,803 65,735 Current liabilities6,194 5,959 Noncurrent liabilities1,090 1,399 Total liabilities7,284 7,358 Noncontrolling interests— — Net income (loss) attributable to Air T, Inc. stockholders for the Company's equity method investees, included in non-operating (expense) income on the condensed consolidated statements of income (loss), including basis difference adjustments and other comprehensive income adjustments, during the fiscal years ended March 31, 2025 and 2024 is as follows (in thousands):Year Ended March 31, Investment20252024Lendway$(1,609)$659 CCI165 1,041 CAM2,919 (184)Other equity method investments225 173 Total$1,700 $1,689 The Company's equity method investees may, from time to time, make distributions and dividends to the Company in accordance with accumulated earnings at the investee. For the fiscal years ended March 31, 2025 and 2024,