Company: AIRTP
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0000353184-25-000073
Chunk: 88

Company: AIR T INC
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 8
Chunk 88
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Three Months Ended June 30, 2025Overnight Air CargoCommercial Aircraft, Engines and PartsGround Support EquipmentDigital SolutionsTotal Reportable segmentsCorporate and OtherTotalDepreciation and amortization$138 $757 $36 $207 $1,138 $146 $1,284 Capital Expenditures65 166 — — 231 — 231 Three Months Ended June 30, 2024Overnight Air CargoCommercial Aircraft, Engines and PartsGround Support EquipmentDigital SolutionsTotal Reportable segmentsCorporate and OtherTotalDepreciation and amortization$97 $190 $95 $198 $580 $180 $760 Capital Expenditures191 62 54 — 307 32 339 Reconciliation of operating income (loss) and elimination of intersegment loss was as follows:Three Months Ended June 30, 2025(in thousands)Overnight Air CargoCommercial Aircraft, Engines and PartsGround Support EquipmentDigital SolutionsReportable Segment TotalCorporate and OtherEliminationsTotalOperating income (loss) from external sources$1,466 $551 $1,338 $(250)$3,105 $(2,659)$— $446 Intersegment operating (loss) income— (95)— — (95)(50)145 — Operating income (loss)1,466 456 1,338 (250)3,010 (2,709)145 446 Three Months Ended June 30, 2024Overnight Air CargoCommercial Aircraft, Engines and PartsGround Support EquipmentDigital SolutionsReportable Segment TotalCorporate and OtherEliminationsTotalOperating income (loss) from external sources$1,839 $1,095 $(775)$(464)$1,695 $(2,272)$— $(577)Intersegment operating (loss) income(8)(13)— — (21)(74)95 — Operating income (loss)1,831 1,082 (775)(464)1,674 (2,346)95 (577)

17.    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