XML 45 R36.htm IDEA: XBRL DOCUMENT
v3.23.2

Financing Arrangements (Tables) | 3 Months Ended
--- | ---
Jun. 30, 2023
Debt Disclosure [Abstract] |
Schedule of Debt | The following table provides certain information about the current financing arrangements of the Company and its subsidiaries as of June 30, 2023:
(In Thousands) | June 30, 2023 |  | March 31, 2023 |  | Maturity Date |  | Interest Rate |  | Unused commitments at June 30, 2023
Air T Debt |  |  |  |  |  |  |  |  |
Revolver - MBT | $ | 13,366 |  |  | $ | 8,742 |  |  | 8/31/2024 |  | SOFR + range of 2.25% - 3.25% |  | $ | 5,634 |
Term Note A - MBT | 7,563 |  |  | 7,762 |  |  | 8/31/2031 |  | 3.42% |  |
Term Note B - MBT | 2,670 |  |  | 2,740 |  |  | 8/31/2031 |  | 3.42% |  |
Term Note D - MBT | 1,321 |  |  | 1,338 |  |  | 1/1/2028 |  | 1-month LIBOR + 2.00% |  |
Term Note E - MBT | 235 |  |  | 800 |  |  | 6/25/2025 |  | Greater of LIBOR + 1.50% or 2.50% |  |
Term Note F - MBT | 933 |  |  | 983 |  |  | 1/31/2028 |  | Greater of 6.00% or Prime + 1.00% |  |
Debt - Trust Preferred Securities | 25,602 |  |  | 25,598 |  |  | 6/7/2049 |  | 8.00% |  |
Total | 51,690 |  |  | 47,963 |  |  |  |  |  |  |
AirCo 1 Debt |  |  |  |  |  |  |  |  |
Term Loan - PSB | 6,393 |  |  | 6,393 |  |  | 12/11/2025 |  | 3-month SOFR + 3.26% |  |
Total | 6,393 |  |  | 6,393 |  |  |  |  |  |  |
Jet Yard Debt |  |  |  |  |  |  |  |  |
Term Loan - MBT | 1,819 |  |  | 1,844 |  |  | 8/31/2031 |  | 4.14% |  |
Total | 1,819 |  |  | 1,844 |  |  |  |  |  |  |
Contrail Debt |  |  |  |  |  |  |  |  |
Revolver - ONB | 5,183 |  |  | 12,441 |  |  | 9/5/2023 |  | 1-month SOFR + 3.56% |  | $ | 19,817 |
Term Loan G - ONB | 38,180 |  |  | 38,180 |  |  | 11/24/2025 |  | 1-month SOFR + 3.11% |  |
Total | 43,363 |  |  | 50,621 |  |  |  |  |  |  |
Delphax Solutions Debt |  |  |  |  |  |  |  |  |
Canadian Emergency Business Account Loan | 30 |  |  | 30 |  |  | 12/31/2025 |  | 5.00% |  |
Total | 30 |  |  | 30 |  |  |  |  |  |  |
Wolfe Lake Debt |  |  |  |  |  |  |  |  |
Term Loan - Bridgewater | 9,523 |  |  | 9,586 |  |  | 12/2/2031 |  | 3.65% |  |
Total | 9,523 |  |  | 9,586 |  |  |  |  |  |  |
Air T Acquisition 22.1 |  |  |  |  |  |  |  |  |
Term Loan - Bridgewater | 4,500 |  |  | 4,500 |  |  | 2/8/2027 |  | 4.00% |  |
Term Loan A - ING | 2,445 |  |  | 2,610 |  |  | 2/1/2027 |  | 3.50% |  |
Term Loan B - ING | 1,087 |  |  | 1,088 |  |  | 5/1/2027 |  | 4.00% |  |
Total | 8,032 |  |  | 8,198 |  |  |  |  |  |  |
WASI Debt |  |  |  |  |  |  |  |  |
Promissory Note - Seller's Note | 1,171 |  |  | 1,279 |  |  | 1/1/2026 |  | 6.00% |  |
Total | 1,171 |  |  | 1,279 |  |  |  |  |  |  |
Total Debt | 122,021 |  |  | 125,914 |  |  |  |  |  |  |
Unamortized Debt Issuance Costs | (763) |  |  | (829) |  |  |  |  |  |  |
Total Debt, net | $ | 121,258 |  |  | $ | 125,085 |  |  |  |  |  |  |
Schedule of Maturities of Long-term Debt | At June 30, 2023, our contractual financing obligations, including payments due by period, are as follows (in thousands):
Due by | Amount
June 30, 2024 | $ | 22,721 |
June 30, 2025 | 24,499 |
June 30, 2026 | 26,160 |
June 30, 2027 | 6,476 |
June 30, 2028 | 2,877 |
Thereafter | 39,288 |
| 122,021 |
Unamortized Debt Issuance Costs | (763) |
| $ | 121,258 |

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

X
- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturity and sinking fund requirement for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 470 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481544/470-10-50-1 + Details
Name: | us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration