CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Dec. 31, 2022	Mar. 31, 2022
Current Assets:
Cash and cash equivalents	$ 4,753	$ 5,616
Marketable securities	622	859
Restricted cash	1,757	2,752
Restricted investments	1,496	1,691
Accounts receivable, net of allowance for doubtful accounts of $1,121 and $1,368	14,995	19,684
Income tax receivable	3,013	3,230
Inventories, net	86,218	75,167
Employee Retention Credit receivable	6,683	9,138
Other current assets	11,559	10,106
Total Current Assets	131,096	128,243
Assets on lease or held for lease, net of accumulated depreciation of $1,205 and $780	12,877	14,509
Property and equipment, net of accumulated depreciation of $6,345 and $5,405	21,252	21,212
Intangible assets, net of accumulated amortization of $3,862 and $2,947	11,178	13,260
Right-of-use ("ROU") assets	6,391	7,354
Equity method investments	14,746	9,864
Goodwill	10,414	10,126
Other assets	4,407	3,031
Total Assets	212,361	207,599
Current Liabilities:
Accounts payable	9,287	9,397
Income tax payable	207	194
Accrued expenses and other (Note 4)	14,940	13,391
Current portion of long-term debt	42,260	6,482
Short-term lease liability	1,251	1,443
Total Current Liabilities	67,945	30,907
Long-term debt	99,624	129,326
Deferred income tax liabilities, net	3,085	2,812
Long-term lease liability	5,925	6,734
Other non-current liabilities	1,267	1,342
Total Liabilities	177,846	171,121
Redeemable non-controlling interest	12,063	10,761
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, 2,821,996 and 2,866,418 shares outstanding	757	756
Treasury stock, 204,499 shares at $19.54 and 156,327 shares at $19.20	(3,995)	(3,002)
Additional paid-in capital	650	393
Retained earnings	23,153	26,729
Accumulated other comprehensive income (loss)	800	(263)
Total Air T, Inc. Stockholders' Equity	21,365	24,613
Non-controlling Interests	1,087	1,104
Total Equity	22,452	25,717
Total Liabilities and Equity	$ 212,361	$ 207,599