Note 3 - Business Combinations (Tables)

6 Months Ended

Sep. 30, 2018

Worthington Aviation Parts, Inc [Member]

Notes Tables

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

	May 4, 2018
ASSETS
Accounts receivable	$	1,929,120
Inventories		4,564,437
Other current assets		149,792
Property and equipment		391,892
Investment in JVs		189,607
Intangible assets - tradename		138,000
Total assets		7,362,848
LIABILITIES
Accounts payable		1,289,150
Accrued expenses		175,222
Deferred tax liability		589,000
Total liabilities		2,053,372
Net assets acquired	$	5,309,476
Consideration paid	$	3,350,000
Less: Cash acquired		(24,301	)
Bargain purchase gain	$	1,983,777

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

Earnest money	$	50,000
Cash consideration		3,300,000
Cash acquired		(24,300	)
Total consideration	$	3,325,700

Business Combination, Revenue and Expense Transactions [Table Text Block]

Revenue	$	7,104,386
Cost of Sales		4,842,616
Operating Expenses		1,646,577
Operating Income		615,193
Non-operating Income		1,927,898
Net Income	$	2,543,091

Business Acquisition, Pro Forma Information [Table Text Block]

	Pro-Forma Three			Pro-Forma Three
	Months Ended			Months Ended
	September 30, 2018			September 30, 2017
Revenue	$	49,340,777		$	53,543,645
Operating income (loss)		(1,620,001	)		112,480
Net income (loss) Attributable to Air T, Inc. Stockholders		(1,321,185	)		155,027
Basic income (loss) per share		(0.65	)		0.08
Dilutive income (loss) per share	$	(0.65	)	$	0.08

	Pro-Forma Six			Pro-Forma Six
	Months Ended			Months Ended
	September 30, 2018			September 30, 2017
Revenue	$	111,652,117		$	104,756,018
Operating income		779,434			2,098,294
Net income (loss) attributable to Air T, Inc. stockholders		(620,366	)		2,904,365
Basic income (loss) per share		(0.30	)		1.42
Dilutive income (loss) per share	$	(0.30	)	$	1.42

Acquired Inventory and Principal Business Assets, and Assumed Specified Liabilities, of Aircraft Instrument and Radio Company, Incorporated, and Aircraft Instrument and Radio Services, Inc. [Member]

Notes Tables

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

	May 2, 2017
Assets acquired and liabilities assumed at fair value:
Accounts receivables	$	748,936
Inventories		3,100,000
Property and equipment		26,748
Accounts payable		(313,117	)
Accrued expenses		(382,687	)
Net assets acquired	$	3,179,880
Net assets acquired		3,179,880
Consideration paid		2,400,000
Bargain purchase gain	$	779,880