Company: AIRTP
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0000353184-25-000073
Chunk: 17

Company: AIR T INC
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 1
Chunk 17
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889 CAM13,385 12,428 Other equity method investments1,797 1,957 Total$19,900 $19,003 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, during the three months ended June 30, 2025 and 2024 is as follows (in thousands):

23

Three Months EndedInvestmentJune 30, 2025June 30, 2024Lendway$123 $(290)CCI(29)674 CAM(251)1,495 Other equity method investments138 44 Total$(19)$1,923 The Company's equity method investees may, from time to time, make distributions and dividends to the Company in accordance with accumulated earnings at the investee. For the three months ended June 30, 2025 and 2024, the Company received distributions and dividends from equity method investees as follows (in thousands):Three Months EndedInvestmentJune 30, 2025June 30, 2024Lendway$— $— CCI— — CAM829 1,626 Other equity method investments298 933 Total$1,127 $2,559 

10.    Inventories

Inventories consisted of the following (in thousands):June 30,2025March 31,2025Inventories:Raw Materials$7,275 $6,928 Work in process3,078 2,342 Finished Goods4,084 5,358 Aircraft parts30,440 28,794 Total inventories44,877 43,422 Reserves(4,991)(4,906)Total inventories, net of reserves$39,886 $38,516 

11.     Lessor Arrangements

Equipment LeasesThe Company leases equipment to third-parties, primarily through Contrail. Leases for aircraft and engines to aviation customers typically have terms ranging from 1 and 4 years under operating lease agreements. On August 26, 2024, Contrail executed the operating agreement for CASP Leasing 1, LLC ("CASP"), a newly-created and 95% owned subsidiary of Contrail. On August 29, 2024, CAS