XML 89 R31.htm IDEA: XBRL DOCUMENT
v3.23.2

SEGMENT INFORMATION | 12 Months Ended
--- | ---
Mar. 31, 2023
Segment Reporting [Abstract] |
SEGMENT INFORMATION | SEGMENT INFORMATION The Company has four reportable segments: overnight air cargo, ground equipment sales, commercial jet engine and parts and corporate and other. Segment data is summarized as follows (in thousands):
(In Thousands) | Year Ended March 31,
| 2023 |  | 2022
Operating Revenues: |  |  |
Overnight Air Cargo: |  |  |
Domestic | $ | 90,370 |  |  | $ | 65,441 |
International | 173 |  |  | 8,968 |
Total Overnight Air Cargo | 90,543 |  |  | 74,409 |
Ground Equipment Sales: |  |  |
Domestic | 38,652 |  |  | 35,089 |
International | 9,833 |  |  | 7,150 |
Total Ground Equipment Sales | 48,485 |  |  | 42,239 |
Commercial Jet Engines and Parts: |  |  |
Domestic | 67,599 |  |  | 40,798 |
International | 34,138 |  |  | 16,891 |
Total Commercial Jet Engines and Parts | 101,737 |  |  | 57,689 |
Corporate and Other: |  |  |
Domestic | 2,952 |  |  | 1,571 |
International | 3,606 |  |  | 1,169 |
Total Corporate and Other | 6,558 |  |  | 2,740 |
Total | 247,323 |  |  | 177,077 |
Operating (Loss) Income: |  |  |
Overnight Air Cargo | 4,047 |  |  | 2,794 |
Ground Equipment Sales | 3,141 |  |  | 3,220 |
Commercial Jet Engines and Parts | (957) |  |  | 3,619 |
Corporate and Other | (10,638) |  |  | (878) |
Total | (4,407) |  |  | 8,755 |
Capital Expenditures: |  |  |
Overnight Air Cargo | 307 |  |  | 148 |
Ground Equipment Sales | 35 |  |  | 156 |
Commercial Jet Engines and Parts | 572 |  |  | 1,204 |
Corporate and Other | 293 |  |  | 50 |
Total | 1,207 |  |  | 1,558 |
Depreciation and Amortization: |  |  |
Overnight Air Cargo | 115 |  |  | 58 |
Ground Equipment Sales | 164 |  |  | 234 |
Commercial Jet Engines and Parts | 2,382 |  |  | 965 |
Corporate and Other | 1,501 |  |  | 603 |
Total | $ | 4,162 |  |  | $ | 1,860 |
The table below provides a reconciliation of operating income (loss) to Adjusted EBITDA by reportable segment for the fiscal year ended March 31, 2023 and 2022 (in thousands):
| Fiscal year 2023 |  |
| Overnight Air Cargo |  | Ground Equipment Sales |  | Commercial Jet Engines and Parts |  | Corporate and Other |  | Total
Operating income (loss) from continuing operations | $ | 4,047 |  |  | $ | 3,141 |  |  | $ | (957) |  |  | $ | (10,638) |  |  | $ | (4,407) |
Depreciation and amortization (excluding leased engines depreciation) | 115 |  |  | 164 |  |  | 745 |  |  | 1,501 |  |  | 2,525 |
Asset impairment, restructuring or impairment charges | 342 |  |  | — |  |  | 7,319 | 7 |  | 179 |  |  | 7,840 |
Loss (Gain) on sale of property and equipment | 1 |  |  | 9 |  |  | (2) |  |  | — |  |  | 8 |
Securities expenses | — |  |  | — |  |  | — |  |  | 63 |  | 63 |
Adjusted EBITDA | $ | 4,505 |  |  | $ | 3,314 |  |  | $ | 7,105 |  |  | $ | (8,895) |  |  | $ | 6,029 |
| Fiscal year 2022 |  |
| Overnight Air Cargo |  | Ground Equipment Sales |  | Commercial Jet Engines and Parts |  | Corporate and Other |  | Total
Operating income (loss) from continuing operations | $ | 2,794 |  |  | $ | 3,220 |  |  | $ | 3,619 |  |  | $ | (878) |  |  | $ | 8,755 |
Depreciation and amortization (excluding leased engines depreciation) | 58 |  |  | 234 |  |  | 694 |  |  | 603 |  |  | 1,589 |
Asset impairment, restructuring or impairment charges | — |  |  | — |  |  | 885 |  |  | (80) |  |  | 805 |
Loss on sale of property and equipment | 2 |  |  | 1 |  |  | 2 |  |  | — |  |  | 5 |
Securities expenses | — |  |  | — |  |  | — |  |  | 252 |  | 252 |
Adjusted EBITDA | $ | 2,854 |  |  | $ | 3,455 |  |  | $ | 5,200 |  |  | $ | (103) |  |  | $ | 11,406 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration