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Consolidated Balance Sheets - USD ($)
Mar. 31, 2018
Mar. 31, 2017
Current Assets:    
Cash and cash equivalents $ 4,803,238 $ 2,763,365
Marketable securities 290,449 2,130,544
Restricted cash 269,659 890,369
Restricted investments 1,235,405
Accounts receivable [1] 15,157,855 18,923,787
Costs and estimated earnings in excess of billings on uncompleted projects 2,012,121
Notes and other receivables-current 658,630 2,297,007
Income tax receivable 1,557,180 402,688
Inventories, net 34,231,005 19,778,843
Prepaid expenses and other 1,455,566 1,672,475
Total Current Assets 61,671,108 48,859,078
Investments in available-for-sale securities 1,026,920 2,463,123
Property and equipment, net 20,273,171 5,324,488
Cash surrender value of life insurance policies 2,356,507 2,251,450
Notes and other tax receivables-long-term 311,000 66,771
Deferred income taxes 204,000
Investments in funds 324,854
Equity method investments 5,032,268
Other assets 420,981 371,975
Intangible assets, net 1,312,472 1,376,699
Goodwill 4,417,605 4,417,605
Total Assets 97,146,886 65,335,189
Current Liabilities:    
Accounts payable 10,181,143 11,571,156
Income tax payable 23,000
Accrued expenses 11,743,973 8,672,815
Short-term debt 9,229,690 25,000
Total Current Liabilities 31,177,806 20,268,971
Long-term debt 38,855,260 18,412,521
Deferred income taxes 92,000 8,000
Other non-current liabilities 785,797 3,039,402
Total Liabilities 70,910,863 41,728,894
Redeemable non-controlling interest 1,992,939 1,443,901
Commitments and contingencies (Notes 8, 11, and 22)
Equity:    
Preferred stock, $1.00 par value, 50,000 shares authorized
Common stock, $.25 par value; 4,000,000 shares authorized, 2,043,607 shares issued and outstanding at March 31, 2018, 2,042,789 shares issued and outstanding at March 31, 2017 510,901 510,696
Additional paid-in capital 4,171,869 4,205,536
Retained earnings 20,695,981 18,461,347
Accumulated other comprehensive loss (260,900) (212,047)
Total Air T, Inc. Stockholders' Equity 25,117,851 22,965,532
Non-controlling Interests (874,767) (803,138)
Total Equity 24,243,084 22,162,394
Total Liabilities and Equity $ 97,146,886 $ 65,335,189
[1] Amounts related to Delphax as of March 31, 2018 and 2017, respectively.