Company: AIRTP
Filing Date: 2025-06-27
Form Type: 10-K
Source: 0000353184-25-000044
Chunk: 124

Company: AIR T INC
Filing Date: 2025-06-27
Form: 10-K
Item: Item 1A
Chunk 124
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, 2024Thailand$— $252 Bulgaria14,435 — Other90 54 Total foreign tangible long-lived assets, net$14,525 $306 Total revenue, located in the United States, and outside the United States is summarized in the following table as of March 31, 2025 and March 31, 2024 (in thousands):

83

Twelve months ended March 31,20252024Operating Revenues:Overnight Air CargoUnited States$120,804 $114,809 Foreign3,227 737 Total Overnight Air Cargo124,031 115,546 Commercial Aircraft, Engines and PartsUnited States79,138 95,175 Foreign39,077 30,325 Total Commercial Aircraft, Engines and Parts118,215 125,500 Ground Support EquipmentUnited States36,175 32,677 Foreign2,765 4,491 Total Ground Support Equipment38,940 37,168 Digital SolutionsUnited States1,781 1,331 Foreign5,487 4,452 Total Digital Solutions7,268 5,783 Corporate and OtherUnited States3,324 2,634 Foreign72 203 Total Corporate and Other3,396 2,837 Total revenue$291,850 $286,834 

19.    SEGMENT INFORMATION

Air T's robust portfolio of businesses are managed on a highly decentralized basis. These businesses are aggregated into operating segments in a manner that reflects how Air T views the business activities. The Company's chief operating decision maker ("CODM") is the Chief Executive Officer. The Chief Executive Officer is ultimately responsible for significant capital allocation decisions and evaluating operating performance. In assessing performance for the Company's businesses, the chief operating decision maker reviews operating income and Adjusted EBITDA. Certain operating segments are aggregated into reportable segments.Effective as of the fourth quarter of fiscal year 2025, the Company renamed the ground equipment sales segment to ground support equipment and renamed the commercial jet engines and parts segment to commercial aircraft, engines and parts to better align the descriptions of the segments with their activities.Additionally, the Company has elected to separately disclose the digital solutions segment, as of the fourth quarter of fiscal year 2025, to align presentation in the financial statements with a key long-term growth area for the Company. Digital solutions was previously classified as part of insignificant business activities. As a result of this change, prior