XML 45 R34.htm IDEA: XBRL DOCUMENT v3.25.0.1
Equity Method Investments (Tables)
 9 Months Ended
Dec. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Equity Method Investments
CCI and Lendway's combined summarized unaudited financial information for the three and nine months ended September 30, 2024 and 2023 is as follows (in thousands):
Three Months EndedNine Months Ended
September 30, 2024September 30, 2023September 30, 2024September 30, 2023
Revenue$37,580 $34,365 $135,999 $133,427 
Gross Profit2,051 2,746 15,489 18,076 
Operating (loss) income(2,115)(124)928 9,100 
Net (loss) income(2,383)2,050 (311)10,439 
CAM's HLBV net assets, including common interests and investor interests, was $35.4 million and $21.8 million as of December 31, 2024 and 2023, respectively. Additionally, contributions from and distributions to both Air T and MRC for the three and nine months ended December 31, 2024 and 2023 is as follows (in thousands):
Three Months EndedNine Months Ended
December 31, 2024December 31, 2023December 31, 2024December 31, 2023
Contributions$2,293 $91 $2,293 $548 
Distributions$5,564 $2,112 $7,841 $3,460 
Investment balances for the Company's equity method investees as of December 31, 2024 and March 31, 2024 is as follows (in thousands):
InvestmentDecember 31, 2024March 31, 2024
Lendway$1,534 $2,339 
CCI4,208 3,723 
CAM10,864 7,397 
Other equity method investments2,137 3,194 
Total$18,743 $16,653 
Net income (loss) attributable to Air T, Inc. stockholders for the Company's equity method investees, included in non-operating (expense) income on the condensed consolidated statements of income (loss), including basis difference adjustments, during the three and nine months ended December 31, 2024 and 2023 is as follows (in thousands):
Three Months EndedNine Months Ended
InvestmentDecember 31, 2024December 31, 2023December 31, 2024December 31, 2023
Lendway$(320)$313 $(816)$750 
CCI(267)169 484 1,508 
CAM1,246 563 5,085 1 
Other equity method investments2 (7)177 218 
Total$661 $1,038 $4,930 $2,477 
The Company's equity method investees may, from time to time, make distributions and dividends to the Company in accordance with accumulated earnings at the investee. For the three and nine months ended December 31, 2024 and 2023, the Company received distributions and dividends from equity method investees as follows (in thousands):
Three Months EndedNine Months Ended
InvestmentDecember 31, 2024December 31, 2023December 31, 2024December 31, 2023
Lendway$— $— $— $— 
CCI— — — 452 
CAM1,624 225 3,901 1,421 
Other equity method investments180 45 1,231 214 
Total$1,804 $270 $5,132 $2,087