Air t, inc. (AIRT)
CashFlow / Yearly
Mar'19Mar'18Mar'17Mar'16Mar'15Mar'14Mar'13Mar'12Mar'11
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)

3,199

2,456

-4,944

3,757

2,483

-

-

-

-

Net income

-

-

-

-

-

1,466

1,669

1,350

2,137

Adjustments to reconcile net income to net cash provided by operating activities:
Change in accounts receivable reserves

47

177

-194

-

-

-

-

-

-

Depreciation and  amortization

7,686

2,428

-

-

-

-

-

-

-

Deferred Income Tax Expense (Benefit), Total

-1,158

-10

-659

90

-372

911

25

405

5

Gain on asset retirement obligation

-

562

0

-

-

-

-

-

-

Bargain purchase acquisition gain

1,983

501

0

-

-

-

-

-

-

Amortization of debt issuance costs

224

90

-

-

-

-

-

-

-

Gain (Loss) on sale of property and equipment

-

-

-

-

-

-

-4

22

103

(Gain) Loss on sale of marketable securities

81

93

576

49

8

10

-

-

-

(Gain) loss on sale of property and equipment

13

-30

-25

5

869

23

-

-

-

Profit from sale of assets on lease

946

-

-

-

-

-

-

-

-

Profit from sale of assets on lease

361

1,851

-2,188

-

-

-

-

-

-

Impairment on property and equipment

34

250

-

-

-

-

-

-

-

Change in accounts receivable and inventory reserves

-

-

-

-462

-370

-

-

-

-

Depreciation, amortization and impairment

-

-

3,181

1,257

856

-

-

-

-

Change in accounts receivable and inventory reserves

-

-

-

-

-

-49

25

-236

-135

Depreciation and amortization

-

-

-

-

-

752

532

364

365

Change in cash surrender value of life insurance

93

105

151

109

103

106

97

91

94

Unrealized gain on transition to equity method

-

721

0

-

-

-

-

-

-

Unrealized loss on marketable securities

-506

-

-

-

-

-

-

-

-

Change in warranty reserve

335

122

-15

-

-

-

-

-

-

Warranty reserve

-

-

-

140

169

357

184

489

188

Compensation expense related to stock options

-

-

-

29

8

23

13

1

4

Other-than-temporary impairment loss on investments

2,000

1,559

2,755

-

-

-

-

-

-

Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net

145

-66

0

-

-

-

-

-

-

Change in operating assets and liabilities:
Accounts receivable

1,960

-4,744

5,524

1,530

-640

-1,355

2,692

-2,670

6,041

Costs and estimated earnings in excess of billings on uncompleted projects

-2,012

2,012

-

-

-

-

-

-

-

Notes receivable and other non-trade receivables

4,367

-1,640

1,600

-119

-871

1,384

48

-110

-74

Inventories

-9,530

6,757

7,845

877

-3,760

4,023

-4,590

3,258

4,698

Prepaid expense and other assets

474

-331

129

422

-147

247

-139

365

58

Accounts payable

1,087

-1,689

-

-

-

-

-

-

-

Accounts payable

4,265

1,664

4,146

605

-1,710

684

-258

-100

3,476

Accrued expenses

2,037

-1,442

1,618

1,217

767

115

-30

-321

-447

Income taxes payable/ receivable

-

-

-

-

-

-

-

-

539

Other

-

-

-

-

-

2,021

-2,692

597

6,654

Income taxes payable/receivable

349

-261

-306

524

-566

474

-355

714

-

Non-current liabilities

-

-

-525

-21

0

-

-

-

-

Total adjustments

17,736

-2,734

-2,609

-543

4,355

-

-

-

-

Net cash (used in) provided by operating activities - continuing operations

-

-

-

3,214

6,839

-

-

-

-

Net cash (used in) provided by operating activities

20,936

-277

-7,554

-

-

-554

4,361

-752

-4,516

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of marketable securities

2,013

2,519

2,719

4,481

4,527

1,734

-

-

-

Sale of marketable securities

889

720

6,002

226

515

274

-

-

-

Acquisition of businesses, net of cash acquired

3,375

2,400

4,573

-78

0

-

-

-

-

Cash used for equity method investments

263

2,301

0

-

-

-

-

-

-

Proceeds from sale of investments

-

-

-

-

-

-

-

-51

-2,224

Investment in funds

100

324

0

-

-

-

-

-

20

Investment in reinsurance entity

2,000

-

-

-

-

-

-

-

-

Capital expenditures related to property & equipment

1,319

2,119

2,346

1,246

799

1,283

375

1,001

255

Capital expenditures related to assets on lease

19,149

18,096

-

-

-

-

-

-

-

Proceeds from sale of property and equipment

135

3

6

200

3,358

40

8

45

121

Proceeds from sale of assets on lease

4,193

-

-

-

-

-

-

-

-

Increase (Decrease) in restricted cash

-

-

69

44

526

-

-

-

-

Net cash used in investing activities - continuing operations

-

-

-

-5,266

-1,980

-

-

-

-

Net cash provided by (used in) investing activities

-23,003

-27,036

-3,700

-

-

-2,702

-367

-905

2,069

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from lines of credit

107,511

115,533

68,275

14,296

6,330

-

-

-

-

Payments on lines of credit

109,934

119,176

49,805

19,302

1,330

-

-

-

-

Proceeds from term loan

27,725

38,441

0

-

-

-

-

-

-

Payments on term loan

15,730

4,816

0

-

-

-

-

-

-

Debt issuance costs

227

404

0

-

-

-

-

-

-

Proceeds from loan against cash surrender value of life insurance policies

2,327

-

-

-

-

-

-

-

-

Earnout payments

1,533

1,100

0

-

-

-

-

-

-

Distribution to non-controlling member

75

-

-

-

-

-

-

-

-

Contribution from non-controlling member

210

252

0

-

-

-

-

-

-

Proceeds from lease funding

-

-

-

7

0

-

-

-

-

Payment of cash dividend

-

-

-

-

-

733

611

611

802

Payments for repurchase of stock

744

-

7,917

-

-

1,078

-

-

-

Net cash provided by (used in) financing activities

-

-

-

-5,993

5,020

-

-

-

-

Repurchase of stock options

-

-

-

0

130

394

-

-

-

Payment on capital leases

-

-

-

-

-

-

-

8

12

Proceeds from exercise of stock options

17

8

0

0

150

25

-

124

-

Tax effect from exercise and forfeiture of stock options

-

-

-

-

-

-

-

-52

-

Repurchase of common stock

-

-

-

-

-

-

-

-

0

Net cash provided by financing activities - continuing operations

9,546

28,736

8,688

-

-

-2,181

-611

-547

-815

Effect of foreign currency exchange rates on cash and cash equivalents

95

-3

-15

1

0

-

-

-

-

NET INCREASE/ (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH

7,574

1,419

-

-

-

-

-

-

-

Non-cash capital expenditures related to property & equipment

57

-

-

-

-

-

-

-

-

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

-

-

-2,582

-8,043

9,879

-5,438

3,383

-700

-3,262

Finished goods inventory transferred to equipment leased to customers

-

251

272

1,288

1,132

-

661

-

-

Non-controlling interests in acquired business

-

-

1,312

-

-

-

-

-

-

Change in fair value of marketable securities

-

-

-

-

-

-10

-

-

-

Non-controlling interest in acquired business

-

-

-

1,712

0

-

-

-

-

Acquired business earnout contracts and payable

-

-

3,016

-

-

-

-

-

-

Equipment leased to customers transferred to inventory

-

2,057

0

-

-

-

-

-

-

Interest

2,880

1,065

298

-

-

-

-

-

-

Interest

-

-

-

47

19

6

22

1

3

Income taxes

527

1,659

1,092

2,827

737

755

675

1,088

887