EARNINGS PER COMMON SHARE

12 Months Ended

Mar. 31, 2022

Basic earnings per share has been calculated by dividing net income (loss) attributable to Air T, Inc. stockholders by the weighted average number of common shares outstanding during each period. For purposes of calculating diluted earnings per share, shares issuable under stock options were considered potential common shares and were included in the weighted average common shares unless they were anti-dilutive.

The computation of earnings per common share is as follows (in thousands, except per share data):


	Year Ended March 31,
	2022		2021
Net income (loss) from continuing operations	$	12,227	$	(8,394)
Net (income) loss from continuing operations attributable to non-controlling interests	(1,299)		1,113
Net income (loss) from continuing operations attributable to Air T, Inc. Stockholders	10,928		(7,281)

Income (loss) from continuing operations per share:
Basic	$	3.79	$	(2.53)
Diluted	$	3.78	$	(2.53)
Antidilutive shares excluded from computation of income (loss) per share from continuing operations	—		6

Gain on sale of discontinued operations, net of tax	—		4
Gain from discontinued operations attributable to Air T, Inc. stockholders	—		4

Income from discontinued operations per share:
Basic	$	—	$	—
Diluted	$	—	$	—
Antidilutive shares excluded from computation of income per share from discontinued operations	—		—

Income (loss) per share:
Basic	$	3.79	$	(2.53)
Diluted	$	3.78	$	(2.53)
Antidilutive shares excluded from computation of income (loss) per share	—		6

Weighted Average Shares Outstanding:
Basic	2,880		2,882
Diluted	2,888		2,882