Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 31, 2020
Current Assets:
Cash and cash equivalents	$ 43,352	$ 5,952
Marketable securities	2,234	1,677
Restricted cash	5,473	9,619
Restricted investments	736	1,085
Accounts receivable, net of allowance for doubtful accounts of $1,093 and $680	19,448	13,077
Income tax receivable	3,451	1,174
Inventories, net	67,671	60,623
Other current assets	5,344	5,279
Total Current Assets	147,709	98,486
Assets on lease or held for lease, net of accumulated depreciation of $1,295 and $6,526	10,225	27,945
Property and equipment, net of accumulated depreciation of $4,785 and $4,319	7,588	5,272
Right-of-use assets	7,895	8,116
Equity method investments	4,443	5,208
Goodwill	4,227	4,227
Other assets	3,151	2,173
Total Assets	185,238	151,427
Current Liabilities:
Accounts payable	7,950	10,864
Accrued expenses and other (Note 4)	11,968	13,024
Current portion of long-term debt	42,388	42,684
Short-term lease liability	1,357	1,174
Total Current Liabilities	63,663	67,746
Long-term debt	85,019	43,136
Deferred income tax liabilities, net	609	579
Long-term lease liability	7,176	7,473
Other non-current liabilities	1,289	1,402
Total Liabilities	157,756	120,336
Redeemable non-controlling interest	5,554	6,080
Commitments and contingencies (Note 15)
Equity:
Preferred stock, $1.00 par value, 50,000 shares authorized	0	0
Common stock, $.25 par value; 4,000,000 shares authorized, 3,022,745 shares issued, 2,881,853 shares outstanding	756	756
Treasury stock, 140,892 shares at $18.58	(2,617)	(2,617)
Additional paid-in capital	1,287	2,636
Retained earnings	22,105	23,768
Accumulated other comprehensive loss	(594)	(537)
Total Air T, Inc. Stockholders' Equity	20,937	24,006
Non-controlling Interests	991	1,005
Total Equity	21,928	25,011
Total Liabilities and Equity	$ 185,238	$ 151,427