CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2023	Mar. 31, 2023
Current Assets:
Cash and cash equivalents	$ 4,999	$ 5,806
Restricted cash	924	1,284
Restricted investments	1,253	2,161
Accounts receivable, net of allowance for doubtful accounts of $1,156 and $1,160	26,585	27,218
Income tax receivable	285	536
Inventories, net	54,456	71,125
Employee retention credit receivable	0	940
Other current assets	9,769	7,487
Total Current Assets	98,271	116,557
Property and equipment, net of accumulated depreciation of $7,150 and $6,624	21,151	21,439
Intangible assets, net of accumulated amortization of $4,776 and $4,191	11,360	12,103
Right-of-use ("ROU") assets	12,071	11,666
Equity method investments	14,179	13,230
Goodwill	10,464	10,563
Other assets	4,277	4,004
Total Assets	171,773	189,562
Current Liabilities:
Accounts payable	12,443	10,449
Income tax payable	214	304
Accrued expenses and other (Note 4)	12,303	13,133
Current portion of long-term debt	23,904	38,736
Short-term lease liability	1,893	1,664
Total Current Liabilities	50,757	64,286
Long-term debt	84,154	86,349
Deferred income tax liabilities, net	2,581	2,417
Long-term lease liability	11,024	10,771
Other non-current liabilities	0	47
Total Liabilities	148,516	163,870
Redeemable non-controlling interest	12,303	12,710
Commitments and contingencies (Note 15)
Equity:
Preferred stock, $1.00 par value, 2,000,000 shares authorized	0	0
Common stock, $0.25 par value; 4,000,000 shares authorized, 3,030,245 and 3,026,495 shares issued, 2,821,504 and 2,818,374 shares outstanding	758	757
Treasury stock, 208,741 shares at $19.63 and 208,121 shares at $19.62	(4,098)	(4,083)
Additional paid-in capital	911	728
Retained earnings	12,092	13,686
Accumulated other comprehensive income	241	816
Total Air T, Inc. Stockholders' Equity	9,904	11,904
Non-controlling Interests	1,050	1,078
Total Equity	10,954	12,982
Total Liabilities and Equity	$ 171,773	$ 189,562