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v3.22.2

Financing Arrangements (Tables) | 3 Months Ended
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Jun. 30, 2022
Debt Disclosure [Abstract] |
Schedule of Debt | The following table provides certain information about the current financing arrangements of the Company's and its subsidiaries as of June 30, 2022:
(In Thousands) | June 30, 2022 |  | March 31, 2022 |  | Maturity Date |  | Interest Rate |  | Unused commitments at June 30, 2022
Air T Debt |  |  |  |  |  |  |  |  |
Revolver - MBT | $ | 14,068 |  |  | $ | 10,969 |  |  | 8/31/2023 |  | Greater of 2.50% or Prime - 1.00% |  | $ | 2,932 |
Overline Note - MBT | — |  |  | — |  |  | 3/31/20231 |  | Greater of 2.50% or Prime + 0.50% |  | $ | 5,000 |
Term Note A - MBT | 8,350 |  |  | 8,542 |  |  | 8/31/2031 |  | 3.42% |  |
Term Note B - MBT | 2,946 |  |  | 3,014 |  |  | 8/31/2031 |  | 3.42% |  |
Term Note D - MBT | 1,388 |  |  | 1,405 |  |  | 1/1/2028 |  | 1-month LIBOR + 2.00% |  |
Term Note E - MBT | 1,997 |  |  | 2,316 |  |  | 6/25/2025 |  | Greater of LIBOR + 1.50% or 2.50% |  |
Debt - Trust Preferred Securities | 25,586 |  |  | 25,567 |  |  | 6/7/2049 |  | 8.00% |  |
Total | 54,335 |  |  | 51,813 |  |  |  |  |  |  |
AirCo 1 Debt |  |  |  |  |  |  |  |  |
Term Loan - Park State Bank | 6,393 |  |  | 6,393 |  |  | 12/11/2025 |  | 3-month LIBOR + 3.00% |  |
Total | 6,393 |  |  | 6,393 |  |  |  |  |  |  |
Jet Yard Debt |  |  |  |  |  |  |  |  |
Term Loan - MBT | 1,919 |  |  | 1,943 |  |  | 8/31/2031 |  | 4.14% |  |
Total | 1,919 |  |  | 1,943 |  |  |  |  |  |  |
Contrail Debt |  |  |  |  |  |  |  |  |
Revolver - Old National Bank ("ONB") | — |  |  | 3,843 |  |  | 9/5/2023 |  | 1-month LIBOR + 3.45% |  | $ | 25,000 |
Term Loan G - ONB | 44,918 |  |  | 44,918 |  |  | 11/24/2025 |  | 1-month LIBOR + 3.00% |  |
Term Loan H - ONB | 14,875 |  |  | 8,698 |  |  | 8/18/2023 |  | Wall Street Journal (WSJ) Prime Rate + 0.75% |  |
Total | 59,793 |  |  | 57,459 |  |  |  |  |  |  |
Delphax Solutions Debt |  |  |  |  |  |  |  |  |
Canadian Emergency Business Account Loan | 31 |  |  | 32 |  |  | 12/31/2025 |  | 5.00% |  |
Total | 31 |  |  | 32 |  |  |  |  |  |  |
Wolfe Lake Debt |  |  |  |  |  |  |  |  |
Term Loan - Bridgewater | 9,776 |  |  | 9,837 |  |  | 12/2/2031 |  | 3.65% |  |
Total | 9,776 |  |  | 9,837 |  |  |  |  |  |  |
Air T Acquisition 22.1 |  |  |  |  |  |  |  |  |
Term Loan - Bridgewater | 5,000 |  |  | 5,000 |  |  | 2/8/2027 |  | 4.00% |  |
Term Loan A - ING | 2,960 |  |  | 3,341 |  |  | 2/1/2027 |  | 3.50% |  |
Term Loan B - ING | 1,039 |  |  | 1,114 |  |  | 5/1/2027 |  | 4.00% |  |
Total | 8,999 |  |  | 9,455 |  |  |  |  |  |  |
Total Debt | 141,246 |  |  | 136,932 |  |  |  |  |  |  |
Less: Unamortized Debt Issuance Costs | (1,065) |  |  | (1,124) |  |  |  |  |  |  |
Total Debt, net | $ | 140,181 |  |  | $ | 135,808 |  |  |  |  |  |  |
Schedule of Maturities of Long-term Debt | At June 30, 2022, our contractual financing obligations, including payments due by period, are as follows (in thousands):
Due by | Amount
June 30, 2023 | $ | 2,607 |
June 30, 2024 | 39,098 |
June 30, 2025 | 12,207 |
June 30, 2026 | 39,111 |
June 30, 2027 | 5,168 |
Thereafter | 43,055 |
| 141,246 |
Less: Unamortized Debt Issuance Costs | (1,065) |
| $ | 140,181 |

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