The estimated depreciable lives of the principal property and equipment classifications are as follows:
Principal Property and Equipment Classification
Estimated Useful Life
Furniture, fixtures, and equipment
3 - 10 years
Leasehold improvements
Lease term or 10 years
Buildings
30 years
Aircraft, engines, and related rotable parts
4 - 5 years
Property and equipment consisted of the following (in thousands):
Year Ended March 31,
20262025
Furniture, fixtures and equipment$10,983 $7,282 
Leasehold improvements9,011 8,393 
Land and buildings27,348 13,850 
Aircraft, engines, and related rotable parts133,253 — 
180,595 29,525 
Accumulated depreciation(18,571)(9,240)
Property and equipment, net$162,024 $20,285 
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Historical Timeline

Fiscal YearFiled
2026Jun 29, 2026Showing above
2025Jun 27, 2025
2024Jun 26, 2024
2023Jun 27, 2023
2022Jun 28, 2022
2021Jun 25, 2021
2020Jun 26, 2020
2019Jun 28, 2019
2018Jun 29, 2018
2017Oct 13, 2017
2016Jun 29, 2016

About PP&E Disclosures

The PP&E disclosure details a company's physical asset base — land, buildings, machinery, and equipment — along with the depreciation methods and useful life assumptions that determine how these costs flow through the income statement. Capitalization policy thresholds reveal management's judgment on the boundary between expense and asset, directly affecting both reported earnings and asset values.

Key signals: changes in estimated useful lives or depreciation methods can materially shift reported earnings without any operational change. Compare capital expenditures against depreciation expense — when capex consistently trails depreciation, the asset base may be aging and underinvested. Watch for large asset impairments or write-downs that signal overvalued carrying amounts. Asset retirement obligations reveal future environmental or decommissioning costs that are often underappreciated. Compare PP&E intensity (PP&E-to-revenue) against industry peers to assess capital efficiency and competitive positioning.