Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2022	Mar. 31, 2022
Current Assets:
Cash and cash equivalents	$ 7,071	$ 5,616
Marketable securities	788	859
Restricted cash	2,394	2,752
Restricted investments	1,589	1,691
Accounts receivable, net of allowance for doubtful accounts of $1,328 and $1,368	22,571	19,684
Income tax receivable	3,893	3,230
Inventories, net	87,604	75,167
Employee retention credit receivable	7,689	9,138
Other current assets	12,932	10,106
Total Current Assets	146,531	128,243
Assets on lease or held for lease, net of accumulated depreciation of $1,041 and $780	14,574	14,509
Property and equipment, net of accumulated depreciation of $6,015 and $5,405	21,338	21,212
Intangible assets, net of accumulated amortization of $3,512 and $2,947	10,722	13,260
Right-of-use ("ROU") assets	6,755	7,354
Equity method investments	11,559	9,864
Goodwill	10,093	10,126
Other assets	4,360	3,031
Total Assets	225,932	207,599
Current Liabilities:
Accounts payable	13,249	9,397
Income tax payable	252	194
Accrued expenses and other (Note 4)	13,626	13,391
Current portion of long-term debt	44,704	6,482
Short-term lease liability	1,341	1,443
Total Current Liabilities	73,172	30,907
Long-term debt	107,979	129,326
Deferred income tax liabilities, net	3,175	2,812
Long-term lease liability	6,206	6,734
Other non-current liabilities	1,208	1,342
Total Liabilities	191,740	171,121
Redeemable non-controlling interest	10,253	10,761
Commitments and contingencies (Note 16)
Equity:
Preferred stock, $1.00 par value, 2,000,000 shares authorized	0	0
Common stock, $.25 par value; 4,000,000 shares authorized, 3,026,495 and 3,022,745 shares issued, 2,850,748 and 2,866,418 shares outstanding	757	756
Treasury stock, 175,747 shares at $19.07 and 156,327 shares at $19.20	(3,353)	(3,002)
Additional paid-in capital	571	393
Retained earnings	24,802	26,729
Accumulated other comprehensive income (loss)	68	(263)
Total Air T, Inc. Stockholders' Equity	22,845	24,613
Non-controlling Interests	1,094	1,104
Total Equity	23,939	25,717
Total Liabilities and Equity	$ 225,932	$ 207,599