form_type
stringclasses 2
values | accession_number
stringlengths 20
20
| filing_date
stringlengths 14
14
| quarter_ending
stringclasses 451
values | company_name
stringlengths 2
58
| text
stringlengths 101
9.36k
| entities
listlengths 1
50
|
|---|---|---|---|---|---|---|
10-Q | 0001617242-23-000009 | 20230207084543 | 20221231 | Kearny Financial Corp. | Individually analyzed loans include loans which do not share similar risk characteristics with other loans. TDRs will generally be evaluated for individual impairment, however, after a period of sustained repayment performance which permits the credit to be returned to accrual status, a TDR would generally be removed from individual impairment analysis and returned to its corresponding pool. As of December 31, 2022, the carrying value of individually analyzed loans, including loans acquired with deteriorated credit quality that were individually analyzed, totaled $40.5 million, of which $36.9 million were considered collateral dependent. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 575,
"End date for period": "2022-12-31",
"Label": "us-gaap:FinancingReceivableIndividuallyEvaluatedForImpairment",
"Start character": 571,
"Start date for period": "2022-12-31",
"Value": 40500000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 599,
"End date for period": "2022-12-31",
"Label": "us-gaap:FinancingReceivableIndividuallyEvaluatedForImpairment",
"Start character": 595,
"Start date for period": "2022-12-31",
"Value": 36900000
}
] |
10-Q | 0001617242-23-000009 | 20230207084543 | 20221231 | Kearny Financial Corp. | The Company may obtain physical possession of one- to four-family real estate collateralizing a residential mortgage loan or nonresidential real estate collateralizing a nonresidential mortgage loan via foreclosure or through an in-substance repossession. As of December 31, 2022, the Company held two single-family properties with an aggregate carrying value of $454,000 and one nonresidential property with a carrying value of $13.0 million in other real estate owned that were acquired through foreclosure on residential mortgage loans and a nonresidential mortgage loan, respectively. As of that same date, the Company held five residential mortgage loans with aggregate carrying values totaling $951,000 and six commercial mortgage loans with aggregate carrying values totaling $9.3 million which were in the process of foreclosure. As of June 30, 2022, the Company held one single-family property in other real estate owned with an aggregate carrying value of $178,000 that was acquired through a foreclosure on a residential mortgage loan. As of that same date, the Company held seven residential mortgage loans with aggregate carrying values totaling $1.5 million which were in the process of foreclosure. | [
{
"Currency / Unit": "krny:Property",
"End character": 301,
"End date for period": "2022-12-31",
"Label": "krny:RealEstateAcquiredThroughForeclosureNumberOfProperties",
"Start character": 298,
"Start date for period": "2022-12-31",
"Value": 2
},
{
"Currency / Unit": "iso4217:USD",
"End character": 371,
"End date for period": "2022-12-31",
"Label": "us-gaap:RealEstateAcquiredThroughForeclosure",
"Start character": 364,
"Start date for period": "2022-12-31",
"Value": 454000
},
{
"Currency / Unit": "krny:Property",
"End character": 379,
"End date for period": "2022-12-31",
"Label": "krny:RealEstateAcquiredThroughForeclosureNumberOfProperties",
"Start character": 376,
"Start date for period": "2022-12-31",
"Value": 1
},
{
"Currency / Unit": "iso4217:USD",
"End character": 434,
"End date for period": "2022-12-31",
"Label": "us-gaap:RealEstateAcquiredThroughForeclosure",
"Start character": 430,
"Start date for period": "2022-12-31",
"Value": 13000000
},
{
"Currency / Unit": "krny:Loan",
"End character": 632,
"End date for period": "2022-12-31",
"Label": "krny:MortgageLoansInProcessOfForeclosureNumberOfLoans",
"Start character": 628,
"Start date for period": "2022-12-31",
"Value": 5
},
{
"Currency / Unit": "iso4217:USD",
"End character": 708,
"End date for period": "2022-12-31",
"Label": "us-gaap:MortgageLoansInProcessOfForeclosureAmount",
"Start character": 701,
"Start date for period": "2022-12-31",
"Value": 951000
},
{
"Currency / Unit": "krny:Loan",
"End character": 716,
"End date for period": "2022-12-31",
"Label": "krny:MortgageLoansInProcessOfForeclosureNumberOfLoans",
"Start character": 713,
"Start date for period": "2022-12-31",
"Value": 6
},
{
"Currency / Unit": "iso4217:USD",
"End character": 787,
"End date for period": "2022-12-31",
"Label": "us-gaap:MortgageLoansInProcessOfForeclosureAmount",
"Start character": 784,
"Start date for period": "2022-12-31",
"Value": 9300000
},
{
"Currency / Unit": "krny:Property",
"End character": 879,
"End date for period": "2022-12-31",
"Label": "krny:RealEstateAcquiredThroughForeclosureNumberOfProperties",
"Start character": 876,
"Start date for period": "2022-12-31",
"Value": 1
},
{
"Currency / Unit": "iso4217:USD",
"End character": 974,
"End date for period": "2022-06-30",
"Label": "us-gaap:RealEstateAcquiredThroughForeclosure",
"Start character": 967,
"Start date for period": "2022-06-30",
"Value": 178000
},
{
"Currency / Unit": "krny:Loan",
"End character": 1091,
"End date for period": "2022-06-30",
"Label": "krny:MortgageLoansInProcessOfForeclosureNumberOfLoans",
"Start character": 1086,
"Start date for period": "2022-06-30",
"Value": 7
},
{
"Currency / Unit": "iso4217:USD",
"End character": 1163,
"End date for period": "2022-06-30",
"Label": "us-gaap:MortgageLoansInProcessOfForeclosureAmount",
"Start character": 1160,
"Start date for period": "2022-06-30",
"Value": 1500000
}
] |
10-Q | 0001617242-23-000009 | 20230207084543 | 20221231 | Kearny Financial Corp. | At December 31, 2022, FHLB advances and overnight line of credit borrowings were collateralized by the FHLB capital stock owned by the Bank and mortgage loans with carrying values totaling approximately $4.38 billion. At June 30, 2022, FHLB advances and overnight line of credit borrowings were collateralized by the FHLB capital stock owned by the Bank and mortgage loans and securities with carrying values totaling approximately $3.58 billion and $178.0 million, respectively. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 208,
"End date for period": "2022-12-31",
"Label": "us-gaap:FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresCollateralPledged1",
"Start character": 204,
"Start date for period": "2022-12-31",
"Value": 4380000000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 437,
"End date for period": "2022-06-30",
"Label": "us-gaap:FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresCollateralPledged1",
"Start character": 433,
"Start date for period": "2022-06-30",
"Value": 3580000000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 456,
"End date for period": "2022-06-30",
"Label": "us-gaap:FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresCollateralPledged1",
"Start character": 451,
"Start date for period": "2022-06-30",
"Value": 178000000
}
] |
10-Q | 0001617242-23-000009 | 20230207084543 | 20221231 | Kearny Financial Corp. | The Company’s uses derivatives to add stability to interest expense and interest income and to manage its exposure to interest rate movements. The Company has entered into interest rate swaps, interest rate caps and an interest rate floor as part of its interest rate risk management strategy. These interest rate products are designated as cash flow hedges. As of December 31, 2022, the Company had a total of 12 interest rate swaps and caps with a total notional amount of $1.33 billion hedging specific wholesale funding and one interest rate floor with a notional amount of $100.0 million hedging floating-rate available for sale securities. | [
{
"Currency / Unit": "krny:Instrument",
"End character": 413,
"End date for period": "2022-12-31",
"Label": "us-gaap:NumberOfInterestRateDerivativesHeld",
"Start character": 411,
"Start date for period": "2022-12-31",
"Value": 12
},
{
"Currency / Unit": "iso4217:USD",
"End character": 480,
"End date for period": "2022-12-31",
"Label": "us-gaap:DerivativeNotionalAmount",
"Start character": 476,
"Start date for period": "2022-12-31",
"Value": 1330000000
},
{
"Currency / Unit": "krny:Instrument",
"End character": 531,
"End date for period": "2022-12-31",
"Label": "us-gaap:NumberOfInterestRateDerivativesHeld",
"Start character": 528,
"Start date for period": "2022-12-31",
"Value": 1
},
{
"Currency / Unit": "iso4217:USD",
"End character": 584,
"End date for period": "2022-12-31",
"Label": "us-gaap:DerivativeNotionalAmount",
"Start character": 579,
"Start date for period": "2022-12-31",
"Value": 100000000
}
] |
10-Q | 0001617242-23-000009 | 20230207084543 | 20221231 | Kearny Financial Corp. | For cash flow hedges on the Company’s wholesale funding positions, amounts reported in accumulated other comprehensive income (loss) related to derivatives will be reclassified to interest expense as interest payments are made on the Company’s hedged variable rate wholesale funding positions. During the three months and six months ended December 31, 2022, the Company reclassified $4.1 million and $5.7 million, respectively, as a reduction in interest expense. During the next twelve months, the Company estimates that $28.2 million will be reclassified as a reduction in interest expense. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 387,
"End date for period": "2022-12-31",
"Label": "us-gaap:DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet",
"Start character": 384,
"Start date for period": "2022-10-01",
"Value": 4099999.9999999995
},
{
"Currency / Unit": "iso4217:USD",
"End character": 404,
"End date for period": "2022-12-31",
"Label": "us-gaap:DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet",
"Start character": 401,
"Start date for period": "2022-07-01",
"Value": 5700000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 527,
"End date for period": "2022-12-31",
"Label": "us-gaap:CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths",
"Start character": 523,
"Start date for period": "2022-07-01",
"Value": 28200000
}
] |
10-Q | 0001617242-23-000009 | 20230207084543 | 20221231 | Kearny Financial Corp. | For cash flow hedges on the Company’s assets, amounts reported in accumulated other comprehensive income (loss) related to derivatives will be reclassified to interest income as interest payments are received on the Company’s hedged variable rate assets. During the three months and six months ended December 31, 2022, the Company did not reclassify any amount to interest income. During the next twelve months, the Company estimates that $81,000 will be reclassified as additional interest income. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 446,
"End date for period": "2022-12-31",
"Label": "us-gaap:CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths",
"Start character": 440,
"Start date for period": "2022-07-01",
"Value": 81000
}
] |
10-Q | 0001617242-23-000009 | 20230207084543 | 20221231 | Kearny Financial Corp. | The Company is exposed to changes in the fair value of certain of its fixed-rate assets due to changes in benchmark interest rates. The Company uses interest rate swaps to manage its exposure to changes in fair value on these instruments attributable to changes in the designated benchmark interest rate. Interest rate swaps designated as fair value hedges involve the payment of fixed-rate amounts to a counterparty in exchange for the Company receiving variable-rate payments over the life of the agreements without the exchange of the underlying notional amount. Such derivatives are used to hedge the changes in fair value of certain of its pools of fixed rate assets. As of December 31, 2022, the Company had three interest rate swaps with a notional amount of $500.0 million hedging fixed-rate residential mortgage loans. | [
{
"Currency / Unit": "krny:Instrument",
"End character": 719,
"End date for period": "2022-12-31",
"Label": "us-gaap:NumberOfInterestRateDerivativesHeld",
"Start character": 714,
"Start date for period": "2022-12-31",
"Value": 3
},
{
"Currency / Unit": "iso4217:USD",
"End character": 772,
"End date for period": "2022-12-31",
"Label": "us-gaap:DerivativeNotionalAmount",
"Start character": 767,
"Start date for period": "2022-12-31",
"Value": 500000000
}
] |
10-Q | 0001617242-23-000009 | 20230207084543 | 20221231 | Kearny Financial Corp. | The Company has agreements with each of its derivative counterparties that contain a provision where if the Company defaults on any of its indebtedness, then the Company could also be declared in default on its derivative obligations and could be required to terminate its derivative positions with the counterparty. The Company also has agreements with its derivative counterparties that contain a provision where if the Company fails to maintain its status as a well-capitalized institution, then the Company could be required to terminate its derivative positions with the counterparty. At December 31, 2022, the termination value of derivatives in a net liability position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to those agreements was $2.9 million. As required under the enforceable master netting arrangement with its derivatives counterparties, at December 31, 2022, the Company posted financial collateral of $2.5 million that was not included as an offsetting amount. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 799,
"End date for period": "2022-12-31",
"Label": "us-gaap:DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral",
"Start character": 796,
"Start date for period": "2022-12-31",
"Value": 2900000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 976,
"End date for period": "2022-12-31",
"Label": "us-gaap:DerivativeLiabilities",
"Start character": 973,
"Start date for period": "2022-12-31",
"Value": 2500000
}
] |
10-Q | 0001617242-23-000009 | 20230207084543 | 20221231 | Kearny Financial Corp. | In addition to the derivative instruments noted above, the Company’s pipeline of loans held for sale at December 31, 2022 and June 30, 2022, included $10.2 million and $20.3 million, respectively, of in process loans whose terms included interest rate locks to borrowers, which are considered free-standing derivative instruments whose fair values are not material to the Company’s financial condition or results of operations. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 155,
"End date for period": "2022-12-31",
"Label": "us-gaap:PrincipalAmountOutstandingOnLoansHeldForSaleOrSecuritization",
"Start character": 151,
"Start date for period": "2022-12-31",
"Value": 10200000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 173,
"End date for period": "2022-06-30",
"Label": "us-gaap:PrincipalAmountOutstandingOnLoansHeldForSaleOrSecuritization",
"Start character": 169,
"Start date for period": "2022-06-30",
"Value": 20300000
}
] |
10-Q | 0001617242-23-000009 | 20230207084543 | 20221231 | Kearny Financial Corp. | During the six months ended December 31, 2022, the Company granted 323,218 restricted stock units (“RSUs”) comprised of 238,121 service-based RSUs and 85,097 performance-based RSUs. The service-based RSUs will vest in three tranches over a period of three years and the performance-based RSUs will cliff vest upon the achievement of performance measures over the three-year period ending June 30, 2025. The number of performance-based RSUs that will vest, if any, will depend on whether, and to what extent, the performance measures are achieved. Common stock will be issued from authorized shares upon the vesting of the RSUs. | [
{
"Currency / Unit": "xbrli:shares",
"End character": 74,
"End date for period": "2022-12-31",
"Label": "us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross",
"Start character": 67,
"Start date for period": "2022-07-01",
"Value": 323218
},
{
"Currency / Unit": "xbrli:shares",
"End character": 127,
"End date for period": "2022-12-31",
"Label": "us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross",
"Start character": 120,
"Start date for period": "2022-07-01",
"Value": 238121
},
{
"Currency / Unit": "xbrli:shares",
"End character": 157,
"End date for period": "2022-12-31",
"Label": "us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross",
"Start character": 151,
"Start date for period": "2022-07-01",
"Value": 85097
}
] |
10-Q | 0001617242-23-000009 | 20230207084543 | 20221231 | Kearny Financial Corp. | At December 31, 2022, collateral dependent loans valued using Level 3 inputs comprised loans with principal balance totaling $23.3 million and valuation allowance of $2.8 million reflecting an aggregate fair value of $20.5 million. By comparison, at June 30, 2022, collateral dependent loans valued using Level 3 inputs comprised loans with principal balance totaling $24.6 million and valuation allowance of $3.6 million reflecting an aggregate fair value of $21.0 million. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 130,
"End date for period": "2022-12-31",
"Label": "us-gaap:NotesReceivableGross",
"Start character": 126,
"Start date for period": "2022-12-31",
"Value": 23300000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 170,
"End date for period": "2022-12-31",
"Label": "us-gaap:FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1",
"Start character": 167,
"Start date for period": "2022-12-31",
"Value": 2800000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 222,
"End date for period": "2022-12-31",
"Label": "us-gaap:AssetsFairValueDisclosure",
"Start character": 218,
"Start date for period": "2022-12-31",
"Value": 20500000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 373,
"End date for period": "2022-06-30",
"Label": "us-gaap:NotesReceivableGross",
"Start character": 369,
"Start date for period": "2022-06-30",
"Value": 24600000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 413,
"End date for period": "2022-06-30",
"Label": "us-gaap:FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1",
"Start character": 410,
"Start date for period": "2022-06-30",
"Value": 3600000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 465,
"End date for period": "2022-06-30",
"Label": "us-gaap:AssetsFairValueDisclosure",
"Start character": 461,
"Start date for period": "2022-06-30",
"Value": 21000000
}
] |
10-Q | 0001617242-23-000009 | 20230207084543 | 20221231 | Kearny Financial Corp. | Once a loan is foreclosed, the fair value of the other real estate owned continues to be evaluated based upon the fair value of the repossessed real estate originally securing the loan. At December 31, 2022 and June 30, 2022, the Company held other real estate owned totaling $13.4 million and $178,000, respectively, whose carrying value was written down utilizing Level 3 inputs. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 281,
"End date for period": "2022-12-31",
"Label": "us-gaap:OtherRealEstate",
"Start character": 277,
"Start date for period": "2022-12-31",
"Value": 13400000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 302,
"End date for period": "2022-06-30",
"Label": "us-gaap:OtherRealEstate",
"Start character": 295,
"Start date for period": "2022-06-30",
"Value": 178000
}
] |
10-Q | 0001617242-23-000009 | 20230207084543 | 20221231 | Kearny Financial Corp. | Stock options for 3,096,138 and 3,115,000 shares of common stock were not considered in computing diluted earnings per share for the three months ended December 31, 2022 and 2021, respectively, and stock options for 2,965,000 and 3,115,000 shares of common stock were not considered in computing diluted earnings per share for the six months ended December 31, 2022 and 2021, respectively, because they were considered anti-dilutive. In addition, 427,347 RSUs were not considered in computing diluted earnings per share for the three months and six months ended December 31, 2022, respectively, because they were considered anti-dilutive. | [
{
"Currency / Unit": "xbrli:shares",
"End character": 27,
"End date for period": "2022-12-31",
"Label": "us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount",
"Start character": 18,
"Start date for period": "2022-10-01",
"Value": 3096138
},
{
"Currency / Unit": "xbrli:shares",
"End character": 41,
"End date for period": "2021-12-31",
"Label": "us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount",
"Start character": 32,
"Start date for period": "2021-10-01",
"Value": 3115000
},
{
"Currency / Unit": "xbrli:shares",
"End character": 225,
"End date for period": "2022-12-31",
"Label": "us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount",
"Start character": 216,
"Start date for period": "2022-07-01",
"Value": 2965000
},
{
"Currency / Unit": "xbrli:shares",
"End character": 239,
"End date for period": "2021-12-31",
"Label": "us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount",
"Start character": 230,
"Start date for period": "2021-10-01",
"Value": 3115000
}
] |
10-Q | 0001493152-23-008041 | 20230317132208 | 20230131 | Goliath Film & Media Holdings | On
October 31, 2011 (the “Closing Date”), China Advanced acquired Goliath Film and Media International, a California corporation,
by issuing 47,000,000 shares of its Common Stock, constituting 70.1% of the outstanding shares after giving effect to their issuance
and the cancellation of 15,619,816 shares held by China Advanced Technology’s prior control person. Immediately following the Closing,
67,100,000 shares were issued and outstanding. On the Closing Date, the name of China Advanced Technology was changed to Goliath Film
and Media Holdings (“Goliath” or “the Company”). All share numbers herein have been adjusted for an eight-for-1
forward stock split affected as of the Closing Date. The forward stock split was reflected in the trading market on February 13, 2012.
The transaction was accounted for as a reverse acquisition in which Goliath Film and Media International is deemed to be the accounting
acquirer, and the prior operations of Goliath (formerly China Advanced Technology) are consolidated for accounting purposes. | [
{
"Currency / Unit": "xbrli:pure",
"End character": 197,
"End date for period": "2011-10-31",
"Label": "GFMH:PercentageOfCommonStockOutstandingShares",
"Start character": 193,
"Start date for period": "2011-10-31",
"Value": 0.7010000000000001
}
] |
10-Q | 0001493152-23-008041 | 20230317132208 | 20230131 | Goliath Film & Media Holdings | During
the three and nine months ended January 31, 2023 and 2022, Kevin Frawley, an affiliate, paid expenses totaling $2,595 and $4,823, and
$2,575 and $2,575, respectively, in operating expenses, including audit fees, on behalf of the Company. The Company has a balance owed
to Mr. Frawley of $26,063 at January 31, 2023. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 124,
"End date for period": "2023-01-31",
"Label": "us-gaap:OperatingExpenses",
"Start character": 119,
"Start date for period": "2022-11-01",
"Value": 2595
}
] |
10-Q | 0001493152-23-008041 | 20230317132208 | 20230131 | Goliath Film & Media Holdings | The
Company is obligated to pay motion picture residual payments of 3.6% of gross licensing revenues collected by Mar Vista for residual
earnings to the pension and health benefit plans on behalf of the actors that performed in the motion pictures. During the three and
nine months ended January 31, 2023, the Company made no payments and has a balance owed of $52,222 as of January 31, 2023 which is included
in accounts payable and accrued expenses. | [
{
"Currency / Unit": "xbrli:pure",
"End character": 71,
"End date for period": "2023-01-31",
"Label": "GFMH:PercentageOfResidualPayments",
"Start character": 68,
"Start date for period": "2022-05-01",
"Value": 0.036000000000000004
},
{
"Currency / Unit": "iso4217:USD",
"End character": 368,
"End date for period": "2023-01-31",
"Label": "GFMH:BalanceAmountOfResidualPayments",
"Start character": 362,
"Start date for period": "2022-05-01",
"Value": 52222
}
] |
10-Q | 0000022444-23-000058 | 20230323121227 | 20230228 | COMMERCIAL METALS Co | As of March 22, 2023, 117,117,307 shares of the registrant's common stock, par value $0.01 per share, were outstanding. | [
{
"Currency / Unit": "xbrli:shares",
"End character": 33,
"End date for period": "2023-03-22",
"Label": "dei:EntityCommonStockSharesOutstanding",
"Start character": 22,
"Start date for period": "2023-03-22",
"Value": 117117307
}
] |
10-Q | 0000022444-23-000058 | 20230323121227 | 20230228 | COMMERCIAL METALS Co | On April 25, 2022 (the "Tensar Acquisition Date"), the Company completed the acquisition of TAC Acquisition Corp. ("Tensar"). The total cash purchase price, net of $19.6 million cash acquired, was approximately $550 million, subject to customary purchase price adjustments, and was funded through domestic cash on-hand. The acquired operations in North America are presented within the Company's North America reportable segment, and the remaining acquired operations are presented within the Company's Europe reportable segment. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 169,
"End date for period": "2022-04-25",
"Label": "us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents",
"Start character": 165,
"Start date for period": "2022-04-25",
"Value": 19600000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 215,
"End date for period": "2022-04-25",
"Label": "us-gaap:BusinessCombinationConsiderationTransferred1",
"Start character": 212,
"Start date for period": "2022-04-25",
"Value": 550000000
}
] |
10-Q | 0000022444-23-000058 | 20230323121227 | 20230228 | COMMERCIAL METALS Co | The pro forma results presented above include, but are not limited to, adjustments to remove the impact of $3.2 million of acquisition and integration expenses from the six months ended February 28, 2022, with no such impact on the three months ended February 28, 2022. Results also reflect increased amortization expense from revalued intangible assets of $3.1 million and $6.2 million in the three and six months ended February 28, 2022, respectively. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 111,
"End date for period": "2022-02-28",
"Label": "us-gaap:BusinessCombinationAcquisitionRelatedCosts",
"Start character": 108,
"Start date for period": "2021-09-01",
"Value": 3200000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 361,
"End date for period": "2022-02-28",
"Label": "us-gaap:AdjustmentForAmortization",
"Start character": 358,
"Start date for period": "2021-12-01",
"Value": 3100000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 378,
"End date for period": "2022-02-28",
"Label": "us-gaap:AdjustmentForAmortization",
"Start character": 375,
"Start date for period": "2021-09-01",
"Value": 6200000
}
] |
10-Q | 0000022444-23-000058 | 20230323121227 | 20230228 | COMMERCIAL METALS Co | On September 29, 2021, the Company entered into a definitive agreement to sell the assets associated with its Rancho Cucamonga melting operations and adjacent rebar fabrication facility ("the Rancho Cucamonga facilities"), which were part of the North America segment. On December 28, 2021, the sale of the Rancho Cucamonga facilities was completed for gross proceeds of $313.0 million. A portion of the gross proceeds amounting to $39.0 million was set aside in a restricted cash account to facilitate the purchase of like-kind assets. In January 2022, the Company used $7.5 million of the restricted cash on a purchase of a like-kind asset. The remaining balance of $31.5 million was included in restricted cash as of February 28, 2022. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 377,
"End date for period": "2021-09-29",
"Label": "us-gaap:ProceedsFromSaleOfMachineryAndEquipment",
"Start character": 372,
"Start date for period": "2021-09-29",
"Value": 313000000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 437,
"End date for period": "2021-09-29",
"Label": "us-gaap:RestrictedCash",
"Start character": 433,
"Start date for period": "2021-09-29",
"Value": 39000000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 575,
"End date for period": "2022-01-31",
"Label": "us-gaap:PaymentsToAcquireMachineryAndEquipment",
"Start character": 572,
"Start date for period": "2022-01-01",
"Value": 7500000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 673,
"End date for period": "2022-02-28",
"Label": "us-gaap:RestrictedCash",
"Start character": 669,
"Start date for period": "2022-02-28",
"Value": 31500000
}
] |
10-Q | 0000022444-23-000058 | 20230323121227 | 20230228 | COMMERCIAL METALS Co | Each downstream product contract sold by the North America segment represents a single performance obligation. Revenue from contracts where the Company provides fabricated product and installation services is recognized over time using an input measure; these contracts represented 7% of net sales in the North America segment in both the three and six months ended February 28, 2023, and 8% and 9% of net sales in the North America segment in the three and six months ended February 28, 2022, respectively. Revenue from contracts where the Company does not provide installation services is recognized over time using an output measure; these contracts represented 11% and 12% of net sales in the North America segment in the three and six months ended February 28, 2023, respectively, and 8% and 9% of net sales in the North America segment in the three and six months ended February 28, 2022, respectively. | [
{
"Currency / Unit": "xbrli:pure",
"End character": 377,
"End date for period": "2022-02-28",
"Label": "cmc:ContractwithCustomerContractasPercentofTotalRevenue",
"Start character": 376,
"Start date for period": "2021-12-01",
"Value": 0.08
},
{
"Currency / Unit": "xbrli:pure",
"End character": 397,
"End date for period": "2022-02-28",
"Label": "cmc:ContractwithCustomerContractasPercentofTotalRevenue",
"Start character": 396,
"Start date for period": "2021-09-01",
"Value": 0.09
},
{
"Currency / Unit": "xbrli:pure",
"End character": 667,
"End date for period": "2023-02-28",
"Label": "cmc:ContractwithCustomerContractasPercentofTotalRevenue",
"Start character": 665,
"Start date for period": "2022-12-01",
"Value": 0.11
},
{
"Currency / Unit": "xbrli:pure",
"End character": 675,
"End date for period": "2023-02-28",
"Label": "cmc:ContractwithCustomerContractasPercentofTotalRevenue",
"Start character": 673,
"Start date for period": "2022-09-01",
"Value": 0.12
},
{
"Currency / Unit": "xbrli:pure",
"End character": 764,
"End date for period": "2022-02-28",
"Label": "cmc:ContractwithCustomerContractasPercentofTotalRevenue",
"Start character": 763,
"Start date for period": "2021-12-01",
"Value": 0.08
},
{
"Currency / Unit": "xbrli:pure",
"End character": 798,
"End date for period": "2022-02-28",
"Label": "cmc:ContractwithCustomerContractasPercentofTotalRevenue",
"Start character": 797,
"Start date for period": "2021-09-01",
"Value": 0.09
}
] |
10-Q | 0000022444-23-000058 | 20230323121227 | 20230228 | COMMERCIAL METALS Co | The amount of revenue reclassified from August 31, 2022 contract liabilities during the six months ended February 28, 2023 was approximately $20.7 million. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 146,
"End date for period": "2023-02-28",
"Label": "us-gaap:ContractWithCustomerLiabilityRevenueRecognized",
"Start character": 142,
"Start date for period": "2022-09-01",
"Value": 20700000
}
] |
10-Q | 0000022444-23-000058 | 20230323121227 | 20230228 | COMMERCIAL METALS Co | As of February 28, 2023, revenue totaling $1.0 billion has been allocated to remaining performance obligations in the North America segment related to contracts where revenue is recognized using an input or output measure. Of this amount, the Company estimates that approximately 79% of the remaining performance obligations will be recognized in the twelve months after February 28, 2023, and the remainder will be recognized during the subsequent twelve months. The duration of all other contracts in the North America and Europe segments are typically less than one year. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 46,
"End date for period": "2023-02-28",
"Label": "us-gaap:RevenueRemainingPerformanceObligation",
"Start character": 43,
"Start date for period": "2023-02-28",
"Value": 1000000000
},
{
"Currency / Unit": "xbrli:pure",
"End character": 282,
"End date for period": "2023-02-28",
"Label": "us-gaap:RevenueRemainingPerformanceObligationPercentage",
"Start character": 280,
"Start date for period": "2023-02-28",
"Value": 0.79
}
] |
10-Q | 0000022444-23-000058 | 20230323121227 | 20230228 | COMMERCIAL METALS Co | Inventory write-downs were $1.0 million and $5.5 million during the three and six months ended February 28, 2023, respectively, and were primarily recorded in the Europe segment. Inventory write-downs were immaterial in the corresponding periods. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 31,
"End date for period": "2023-02-28",
"Label": "us-gaap:InventoryWriteDown",
"Start character": 28,
"Start date for period": "2022-12-01",
"Value": 1000000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 48,
"End date for period": "2023-02-28",
"Label": "us-gaap:InventoryWriteDown",
"Start character": 45,
"Start date for period": "2022-09-01",
"Value": 5500000
}
] |
10-Q | 0000022444-23-000058 | 20230323121227 | 20230228 | COMMERCIAL METALS Co | Amortization expense for intangible assets was $6.2 million and $12.3 million in the three and six months ended February 28, 2023, respectively, of which $4.7 million and $9.3 million, respectively, was recorded in cost of goods sold and $1.5 million and $3.0 million, respectively, was recorded in selling, general and administrative expenses in the condensed consolidated statements of earnings. The Company recorded immaterial amortization expense for intangible assets in the three and six months ended February 28, 2022. Estimated amounts of amortization expense for intangible assets for the next five years are as follows: | [
{
"Currency / Unit": "iso4217:USD",
"End character": 51,
"End date for period": "2023-02-28",
"Label": "us-gaap:AdjustmentForAmortization",
"Start character": 48,
"Start date for period": "2022-12-01",
"Value": 6200000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 69,
"End date for period": "2023-02-28",
"Label": "us-gaap:AdjustmentForAmortization",
"Start character": 65,
"Start date for period": "2022-09-01",
"Value": 12300000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 158,
"End date for period": "2023-02-28",
"Label": "us-gaap:CostOfGoodsAndServicesSoldAmortization",
"Start character": 155,
"Start date for period": "2022-12-01",
"Value": 4700000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 175,
"End date for period": "2023-02-28",
"Label": "us-gaap:CostOfGoodsAndServicesSoldAmortization",
"Start character": 172,
"Start date for period": "2022-09-01",
"Value": 9300000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 242,
"End date for period": "2023-02-28",
"Label": "us-gaap:AmortizationOfIntangibleAssets",
"Start character": 239,
"Start date for period": "2022-12-01",
"Value": 1500000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 259,
"End date for period": "2023-02-28",
"Label": "us-gaap:AmortizationOfIntangibleAssets",
"Start character": 256,
"Start date for period": "2022-09-01",
"Value": 3000000
}
] |
10-Q | 0000022444-23-000058 | 20230323121227 | 20230228 | COMMERCIAL METALS Co | Capitalized interest, resulting primarily from the construction of the Company's third micro mill, was $5.4 million and $10.0 million during the three and six months ended February 28, 2023, respectively, compared to $2.6 million and $4.2 million, respectively, during the corresponding periods. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 107,
"End date for period": "2023-02-28",
"Label": "us-gaap:InterestExpenseDebt",
"Start character": 104,
"Start date for period": "2022-12-01",
"Value": 5400000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 125,
"End date for period": "2023-02-28",
"Label": "us-gaap:InterestExpenseDebt",
"Start character": 121,
"Start date for period": "2022-09-01",
"Value": 10000000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 221,
"End date for period": "2022-02-28",
"Label": "us-gaap:InterestExpenseDebt",
"Start character": 218,
"Start date for period": "2021-12-01",
"Value": 2600000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 238,
"End date for period": "2022-02-28",
"Label": "us-gaap:InterestExpenseDebt",
"Start character": 235,
"Start date for period": "2021-09-01",
"Value": 4200000
}
] |
10-Q | 0000022444-23-000058 | 20230323121227 | 20230228 | COMMERCIAL METALS Co | In May 2013, the Company issued $330.0 million of 4.875% Senior Notes due May 2023 (the "2023 Notes"). As of August 31, 2022, the 2023 Notes were included in current maturities of long-term debt and short-term borrowings in the consolidated balance sheet. In November 2022, the Company repurchased $115.9 million in aggregate principal amount of the 2023 Notes through a cash tender offer and recognized an immaterial loss on debt extinguishment. The remaining balance of $214.1 million was included in current maturities of long-term debt and short-term borrowings in the condensed consolidated balance sheet as of February 28, 2023. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 38,
"End date for period": "2013-05-31",
"Label": "us-gaap:DebtInstrumentFaceAmount",
"Start character": 33,
"Start date for period": "2013-05-31",
"Value": 330000000
},
{
"Currency / Unit": "xbrli:pure",
"End character": 55,
"End date for period": "2013-05-31",
"Label": "us-gaap:LongtermDebtWeightedAverageInterestRate",
"Start character": 50,
"Start date for period": "2013-05-31",
"Value": 0.04875
},
{
"Currency / Unit": "iso4217:USD",
"End character": 304,
"End date for period": "2022-11-10",
"Label": "us-gaap:RepaymentsOfLongTermDebt",
"Start character": 299,
"Start date for period": "2022-11-10",
"Value": 115900000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 478,
"End date for period": "2023-02-28",
"Label": "us-gaap:DebtAndCapitalLeaseObligations",
"Start character": 473,
"Start date for period": "2023-02-28",
"Value": 214100000
}
] |
10-Q | 0000022444-23-000058 | 20230323121227 | 20230228 | COMMERCIAL METALS Co | In October 2022, the Company entered into a Sixth Amended and Restated Credit Agreement (as amended, the "Credit Agreement") with a revolving credit facility (the "Revolver") of $600.0 million and a maturity date in October 2027, replacing the Fifth Amended and Restated Credit Agreement with a revolving credit facility of $400.0 million and a maturity date in March 2026. The maximum availability under the Revolver can be increased to $850.0 million with bank approval. The Credit Agreement also provides for a delayed draw senior secured term loan facility with a maximum principal amount of $200.0 million (the “Term Loan”). The Term Loan is coterminous with the Revolver. As of February 28, 2023, the Company had no amounts drawn under the Term Loan. The Company's obligations under the Credit Agreement are secured by its North America inventory. The Credit Agreement's capacity includes a $50.0 million sub-limit for the issuance of stand-by letters of credit. The Company had no amounts drawn under the Revolver or the previous revolving credit facility at February 28, 2023 or August 31, 2022. The availability under the Revolver and the previous revolving credit facility, as applicable, was reduced by outstanding stand-by letters of credit of $0.9 million and $1.4 million at February 28, 2023 and August 31, 2022, respectively. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 184,
"End date for period": "2022-10-31",
"Label": "us-gaap:LineOfCreditFacilityCurrentBorrowingCapacity",
"Start character": 179,
"Start date for period": "2022-10-31",
"Value": 600000000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 330,
"End date for period": "2022-10-31",
"Label": "us-gaap:LineOfCreditFacilityCurrentBorrowingCapacity",
"Start character": 325,
"Start date for period": "2022-10-31",
"Value": 400000000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 444,
"End date for period": "2022-10-31",
"Label": "us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity",
"Start character": 439,
"Start date for period": "2022-10-31",
"Value": 850000000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 602,
"End date for period": "2022-10-31",
"Label": "us-gaap:DebtInstrumentFaceAmount",
"Start character": 597,
"Start date for period": "2022-10-31",
"Value": 200000000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 656,
"End date for period": "2023-02-28",
"Label": "us-gaap:LineOfCreditFacilityFairValueOfAmountOutstanding",
"Start character": 654,
"Start date for period": "2023-02-28",
"Value": 0
},
{
"Currency / Unit": "iso4217:USD",
"End character": 902,
"End date for period": "2022-10-31",
"Label": "us-gaap:LineOfCreditFacilityCurrentBorrowingCapacity",
"Start character": 898,
"Start date for period": "2022-10-31",
"Value": 50000000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 987,
"End date for period": "2023-02-28",
"Label": "us-gaap:LineOfCreditFacilityFairValueOfAmountOutstanding",
"Start character": 985,
"Start date for period": "2023-02-28",
"Value": 0
},
{
"Currency / Unit": "iso4217:USD",
"End character": 1260,
"End date for period": "2023-02-28",
"Label": "us-gaap:LettersOfCreditOutstandingAmount",
"Start character": 1257,
"Start date for period": "2023-02-28",
"Value": 900000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 1277,
"End date for period": "2022-08-31",
"Label": "us-gaap:LettersOfCreditOutstandingAmount",
"Start character": 1274,
"Start date for period": "2022-08-31",
"Value": 1400000
}
] |
10-Q | 0000022444-23-000058 | 20230323121227 | 20230228 | COMMERCIAL METALS Co | In November 2022, the Company repaid the outstanding principal on its term loan facility (the "Poland Term Loan") through its subsidiary, CMC Poland Sp. z.o.o. ("CMCP"). At February 28, 2023, there was no amount outstanding or available, compared to PLN 152.4 million, or $32.4 million, outstanding and available under the facility as of August 31, 2022. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 204,
"End date for period": "2023-02-28",
"Label": "us-gaap:DebtAndCapitalLeaseObligations",
"Start character": 202,
"Start date for period": "2023-02-28",
"Value": 0
},
{
"Currency / Unit": "iso4217:PLN",
"End character": 259,
"End date for period": "2022-08-31",
"Label": "us-gaap:DebtAndCapitalLeaseObligations",
"Start character": 254,
"Start date for period": "2022-08-31",
"Value": 152400000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 277,
"End date for period": "2022-08-31",
"Label": "us-gaap:DebtAndCapitalLeaseObligations",
"Start character": 273,
"Start date for period": "2022-08-31",
"Value": 32400000
}
] |
10-Q | 0000022444-23-000058 | 20230323121227 | 20230228 | COMMERCIAL METALS Co | The Company also has credit facilities in Poland through CMCP. At February 28, 2023 and August 31, 2022, CMCP's credit facilities totaled PLN 300.0 million, or $67.4 million and $63.9 million, respectively. There were no amounts outstanding under these facilities as of February 28, 2023 or August 31, 2022. The available balance of these credit facilities was reduced by outstanding stand-by letters of credit, guarantees and/or other financial assurance instruments, which totaled $14.6 million and $1.0 million at February 28, 2023 and August 31, 2022, respectively. | [
{
"Currency / Unit": "iso4217:PLN",
"End character": 147,
"End date for period": "2023-02-28",
"Label": "us-gaap:LineOfCreditFacilityCurrentBorrowingCapacity",
"Start character": 142,
"Start date for period": "2023-02-28",
"Value": 300000000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 165,
"End date for period": "2023-02-28",
"Label": "us-gaap:LineOfCreditFacilityCurrentBorrowingCapacity",
"Start character": 161,
"Start date for period": "2023-02-28",
"Value": 67400000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 183,
"End date for period": "2022-08-31",
"Label": "us-gaap:LineOfCreditFacilityCurrentBorrowingCapacity",
"Start character": 179,
"Start date for period": "2022-08-31",
"Value": 63900000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 488,
"End date for period": "2023-02-28",
"Label": "us-gaap:LettersOfCreditOutstandingAmount",
"Start character": 484,
"Start date for period": "2023-02-28",
"Value": 14600000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 505,
"End date for period": "2022-08-31",
"Label": "us-gaap:LettersOfCreditOutstandingAmount",
"Start character": 502,
"Start date for period": "2022-08-31",
"Value": 1000000
}
] |
10-Q | 0000022444-23-000058 | 20230323121227 | 20230228 | COMMERCIAL METALS Co | In November 2022, the Company terminated its $150.0 million U.S. trade accounts receivable facility. The Company had no advance payments outstanding under this facility at August 31, 2022. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 51,
"End date for period": "2022-11-09",
"Label": "cmc:TransferOfAccountsReceivableProgramTermination",
"Start character": 46,
"Start date for period": "2022-11-09",
"Value": 150000000
}
] |
10-Q | 0000022444-23-000058 | 20230323121227 | 20230228 | COMMERCIAL METALS Co | During 2016 and 2017, the Company entered into three New Markets Tax Credit (“NMTC”) transactions with U.S. Bancorp Community Development Corporation, a Minnesota corporation ("USBCDC"). The NMTC transactions related to the construction and equipping of the micro mill in Durant, Oklahoma, as well as a rebar spooler and automated T-post shop located on the same site. As of August 31, 2022, $17.7 million of USBCDC’s contributions were classified as accrued expenses and other payables in the consolidated balance sheet and $9.5 million of USBCDC’s contributions were classified as other noncurrent liabilities in the consolidated balance sheet, in each case representing deferred revenue to the Company. During December 2022, the seven-year recapture period on the first NMTC transaction, the USBCDC Investment Fund 156, ended, and therefore, the corresponding $17.7 million USBCDC capital contribution was recognized in net sales during the three and six months ended February 28, 2023. See Note 10, New Markets Tax Credit Transactions, to the consolidated financial statements in the 2022 Form 10-K for discussion related to the Company's NMTC transactions. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 397,
"End date for period": "2022-08-31",
"Label": "us-gaap:DeferredRevenue",
"Start character": 393,
"Start date for period": "2022-08-31",
"Value": 17700000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 529,
"End date for period": "2022-08-31",
"Label": "us-gaap:DeferredRevenue",
"Start character": 526,
"Start date for period": "2022-08-31",
"Value": 9500000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 868,
"End date for period": "2022-08-31",
"Label": "us-gaap:DeferredRevenue",
"Start character": 864,
"Start date for period": "2022-08-31",
"Value": 17700000
}
] |
10-Q | 0000022444-23-000058 | 20230323121227 | 20230228 | COMMERCIAL METALS Co | The Company considers the total notional value of its futures and forward contracts as the best measure of the volume of derivative transactions. At February 28, 2023, the notional values of the Company's foreign currency and commodity contract commitments were $371.5 million and $453.6 million, respectively. At August 31, 2022, the notional values of the Company's foreign currency and commodity contract commitments were $253.5 million and $205.1 million, respectively. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 268,
"End date for period": "2023-02-28",
"Label": "us-gaap:DerivativeNotionalAmount",
"Start character": 263,
"Start date for period": "2023-02-28",
"Value": 371500000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 287,
"End date for period": "2023-02-28",
"Label": "us-gaap:DerivativeNotionalAmount",
"Start character": 282,
"Start date for period": "2023-02-28",
"Value": 453600000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 431,
"End date for period": "2022-08-31",
"Label": "us-gaap:DerivativeNotionalAmount",
"Start character": 426,
"Start date for period": "2022-08-31",
"Value": 253500000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 450,
"End date for period": "2022-08-31",
"Label": "us-gaap:DerivativeNotionalAmount",
"Start character": 445,
"Start date for period": "2022-08-31",
"Value": 205100000
}
] |
10-Q | 0000022444-23-000058 | 20230323121227 | 20230228 | COMMERCIAL METALS Co | December 2034. Included in the AOCI balance as of February 28, 2023 was an estimated net gain of $7.5 million | [
{
"Currency / Unit": "iso4217:USD",
"End character": 101,
"End date for period": "2023-02-28",
"Label": "us-gaap:GainFromComponentsExcludedFromAssessmentOfCashFlowHedgeEffectiveness",
"Start character": 98,
"Start date for period": "2022-09-01",
"Value": 7500000
}
] |
10-Q | 0000022444-23-000058 | 20230323121227 | 20230228 | COMMERCIAL METALS Co | The Company recorded immaterial mark-to-market adjustments on liability awards for the three and six months ended February 28, 2023 and 2022. At February 28, 2023, the Company had outstanding 514,417 equivalent shares accounted for under the liability method. The Company expects 488,696 equivalent shares to vest. | [
{
"Currency / Unit": "xbrli:shares",
"End character": 199,
"End date for period": "2023-02-28",
"Label": "us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber",
"Start character": 192,
"Start date for period": "2023-02-28",
"Value": 514417
},
{
"Currency / Unit": "xbrli:shares",
"End character": 287,
"End date for period": "2023-02-28",
"Label": "cmc:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquivalentSharesExpectedToVest",
"Start character": 280,
"Start date for period": "2023-02-28",
"Value": 488696
}
] |
10-Q | 0000022444-23-000058 | 20230323121227 | 20230228 | COMMERCIAL METALS Co | In October 2022, the Company terminated its U.S. Pension Plan (as defined in Note 15, Employees' Retirement Plans, to the consolidated financial statements in the 2022 Form 10-K). As part of the termination, the Company made a contribution of $4.1 million. Plan assets were liquidated to purchase annuity contracts with an insurance company for all participants. The Company recognized a $4.2 million settlement charge as a result of the termination, including an immaterial non-cash charge for unrecognized losses within accumulated other comprehensive income as of the termination date. The $4.2 million settlement charge was recognized within selling, general and administrative expenses in the condensed consolidated statement of earnings during the six months ended February 28, 2023. No benefit obligation or plan assets related to the U.S. Pension Plan remain. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 247,
"End date for period": "2023-02-28",
"Label": "us-gaap:DefinedBenefitPlanContributionsByEmployer",
"Start character": 244,
"Start date for period": "2022-12-01",
"Value": 4099999.9999999995
},
{
"Currency / Unit": "iso4217:USD",
"End character": 393,
"End date for period": "2023-02-28",
"Label": "us-gaap:DefinedBenefitPlanSettlementsPlanAssets",
"Start character": 390,
"Start date for period": "2022-12-01",
"Value": 4200000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 598,
"End date for period": "2023-02-28",
"Label": "us-gaap:DefinedBenefitPlanSettlementsPlanAssets",
"Start character": 595,
"Start date for period": "2022-12-01",
"Value": 4200000
}
] |
10-Q | 0000022444-23-000058 | 20230323121227 | 20230228 | COMMERCIAL METALS Co | The Company structures its business into two reportable segments: North America and Europe. See Note 1, Nature of Operations and Summary of Significant Accounting Policies, to the consolidated financial statements in the 2022 Form 10-K and Note 2, Changes in Business, for more information about the reportable segments, including the types of products and services from which each reportable segment derives its net sales. Corporate and Other contains earnings or losses on assets and liabilities related to the Company's BRP assets and short-term investments, expenses of the Company's corporate headquarters, interest expense related to long-term debt, other revenue resulting from the Company's NMTC transactions and intercompany eliminations. | [
{
"Currency / Unit": "cmc:segments",
"End character": 44,
"End date for period": "2023-02-28",
"Label": "us-gaap:NumberOfReportableSegments",
"Start character": 41,
"Start date for period": "2022-09-01",
"Value": 2
}
] |
10-Q | 0000022444-23-000058 | 20230323121227 | 20230228 | COMMERCIAL METALS Co | In November 2022, we repurchased $115.9 million in aggregate principal amount of the 4.875% Senior Notes due 2023 (the “2023 Notes”) through a cash tender offer. The remaining $214.1 million of outstanding principal on the 2023 Notes is due on | [
{
"Currency / Unit": "iso4217:USD",
"End character": 182,
"End date for period": "2023-02-28",
"Label": "us-gaap:DebtAndCapitalLeaseObligations",
"Start character": 177,
"Start date for period": "2023-02-28",
"Value": 214100000
}
] |
10-Q | 0000785786-23-000012 | 20230203081733 | 20221231 | PLEXUS CORP | During the three months ended December 31, 2022, the highest daily borrowing under the Company's 5-year senior unsecured revolving credit facility (referred to as the "Credit Facility") was $394.0 million; the average daily borrowings were $320.9 million. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 196,
"End date for period": "2022-12-31",
"Label": "us-gaap:LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod",
"Start character": 191,
"Start date for period": "2022-10-02",
"Value": 394000000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 246,
"End date for period": "2022-12-31",
"Label": "us-gaap:LineOfCreditFacilityAverageOutstandingAmount",
"Start character": 241,
"Start date for period": "2022-10-02",
"Value": 320900000
}
] |
10-Q | 0000785786-23-000012 | 20230203081733 | 20221231 | PLEXUS CORP | hat $2.4 million of unrealized gains, net of tax, related to cash flow hedges will be reclassified from other comprehensive income (loss) into earnings. Changes in the fair value of the non-designated derivatives related to recognized foreign currency denominated assets and liabilities are recorded in "Miscellaneous, net" in the accompanying Condensed Consolidated Statements of Comprehensive Income. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 8,
"End date for period": "2022-12-31",
"Label": "us-gaap:CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths",
"Start character": 5,
"Start date for period": "2022-10-02",
"Value": 2400000
}
] |
10-Q | 0000785786-23-000012 | 20230203081733 | 20221231 | PLEXUS CORP | The Company enters into forward currency exchange contracts for its operations in certain jurisdictions in the AMER and APAC segments on a rolling basis. The Company had cash flow hedges outstanding with a notional value of $148.7 million as of December 31, 2022, and a notional value of $143.2 million as of October 1, 2022. These forward currency contracts fix the exchange rates for the settlement of future foreign currency obligations that have yet to be realized. The total fair value of the forward currency exchange contracts was a $2.4 million asset as of December 31, 2022, and a $6.0 million liability as of October 1, 2022. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 230,
"End date for period": "2022-12-31",
"Label": "us-gaap:DerivativeAssetNotionalAmount",
"Start character": 225,
"Start date for period": "2022-12-31",
"Value": 148700000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 294,
"End date for period": "2022-10-01",
"Label": "us-gaap:DerivativeAssetNotionalAmount",
"Start character": 289,
"Start date for period": "2022-10-01",
"Value": 143200000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 544,
"End date for period": "2022-12-31",
"Label": "us-gaap:DerivativeFairValueOfDerivativeAsset",
"Start character": 541,
"Start date for period": "2022-12-31",
"Value": 2400000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 594,
"End date for period": "2022-10-01",
"Label": "us-gaap:DerivativeFairValueOfDerivativeLiability",
"Start character": 591,
"Start date for period": "2022-10-01",
"Value": 6000000
}
] |
10-Q | 0000785786-23-000012 | 20230203081733 | 20221231 | PLEXUS CORP | The Company had additional forward currency exchange contracts outstanding as of December 31, 2022, with a notional value of $113.5 million; there were $60.1 million such contracts outstanding as of October 1, 2022. The Company did not designate these derivative instruments as hedging instruments. The net settlement amount (fair value) related to these contracts is recorded on the Condensed Consolidated Balance Sheets as either a current or long-term asset or liability, depending on the term, and as an element of "Miscellaneous, net" in the Condensed Consolidated Statements of Comprehensive Income. The total fair value of these derivatives was a $1.0 million asset as of December 31, 2022, and a $0.3 million asset as of October 1, 2022. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 131,
"End date for period": "2022-12-31",
"Label": "us-gaap:DerivativeAssetNotionalAmount",
"Start character": 126,
"Start date for period": "2022-12-31",
"Value": 113500000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 157,
"End date for period": "2022-10-01",
"Label": "us-gaap:DerivativeAssetNotionalAmount",
"Start character": 153,
"Start date for period": "2022-10-01",
"Value": 60100000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 658,
"End date for period": "2022-12-31",
"Label": "us-gaap:DerivativeFairValueOfDerivativeAsset",
"Start character": 655,
"Start date for period": "2022-12-31",
"Value": 1000000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 708,
"End date for period": "2022-10-01",
"Label": "us-gaap:DerivativeFairValueOfDerivativeAsset",
"Start character": 705,
"Start date for period": "2022-10-01",
"Value": 300000
}
] |
10-Q | 0000785786-23-000012 | 20230203081733 | 20221231 | PLEXUS CORP | Income tax expense for the three months ended December 31, 2022 was $7.2 million compared to $3.4 million for the three months ended January 1, 2022. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 72,
"End date for period": "2022-12-31",
"Label": "us-gaap:IncomeTaxExpenseBenefit",
"Start character": 69,
"Start date for period": "2022-10-02",
"Value": 7200000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 97,
"End date for period": "2022-01-01",
"Label": "us-gaap:IncomeTaxExpenseBenefit",
"Start character": 94,
"Start date for period": "2021-10-03",
"Value": 3400000
}
] |
10-Q | 0000785786-23-000012 | 20230203081733 | 20221231 | PLEXUS CORP | The effective tax rates for the three months ended December 31, 2022 and January 1, 2022 were 14.7% and 12.5%, respectively. The effective tax rate for the three months ended December 31, 2022 increased from the effective tax rate for the three months ended January 1, 2022 primarily due to a change in the geographic distribution of pre-tax book income. | [
{
"Currency / Unit": "xbrli:pure",
"End character": 98,
"End date for period": "2022-12-31",
"Label": "us-gaap:EffectiveIncomeTaxRateContinuingOperations",
"Start character": 94,
"Start date for period": "2022-10-02",
"Value": 0.147
},
{
"Currency / Unit": "xbrli:pure",
"End character": 108,
"End date for period": "2022-01-01",
"Label": "us-gaap:EffectiveIncomeTaxRateContinuingOperations",
"Start character": 104,
"Start date for period": "2021-10-03",
"Value": 0.125
}
] |
10-Q | 0000785786-23-000012 | 20230203081733 | 20221231 | PLEXUS CORP | The amount of unrecognized tax benefits recorded for uncertain tax positions increased by $0.9 million for the three months ended December 31, 2022. The Company recognizes accrued interest and penalties on uncertain tax positions as a component of income tax expense. The amount of interest and penalties recorded for the three months ended December 31, 2022 was not material. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 94,
"End date for period": "2022-12-31",
"Label": "us-gaap:UnrecognizedTaxBenefitsPeriodIncreaseDecrease",
"Start character": 91,
"Start date for period": "2022-10-02",
"Value": 900000
}
] |
10-Q | 0000785786-23-000012 | 20230203081733 | 20221231 | PLEXUS CORP | Information about the Company’s three reportable segments for three months ended December 31, 2022 and January 1, 2022 is as follows (in thousands): | [
{
"Currency / Unit": "plxs:segment",
"End character": 37,
"End date for period": "2022-12-31",
"Label": "us-gaap:NumberOfReportableSegments",
"Start character": 32,
"Start date for period": "2022-10-02",
"Value": 3
}
] |
10-Q | 0000785786-23-000012 | 20230203081733 | 20221231 | PLEXUS CORP | On August 11, 2021, the Board of Directors approved a share repurchase program under which the Company was authorized to repurchase up to $50.0 million of its common stock (the "2022 Program"). The 2022 Program commenced upon completion of the 2021 Program and was completed in fiscal 2022. During the three months ended | [
{
"Currency / Unit": "iso4217:USD",
"End character": 143,
"End date for period": "2021-08-11",
"Label": "us-gaap:StockRepurchaseProgramAuthorizedAmount1",
"Start character": 139,
"Start date for period": "2021-08-11",
"Value": 50000000
}
] |
10-Q | 0000785786-23-000012 | 20230203081733 | 20221231 | PLEXUS CORP | , the Company repurchased 110,440 shares under this program for $10.2 million at an average price of $91.74 per share. | [
{
"Currency / Unit": "xbrli:shares",
"End character": 33,
"End date for period": "2022-01-01",
"Label": "us-gaap:TreasuryStockSharesAcquired",
"Start character": 26,
"Start date for period": "2021-10-03",
"Value": 110440
},
{
"Currency / Unit": "iso4217:USD",
"End character": 69,
"End date for period": "2022-01-01",
"Label": "us-gaap:TreasuryStockValueAcquiredCostMethod",
"Start character": 65,
"Start date for period": "2021-10-03",
"Value": 10200000
},
{
"Currency / Unit": null,
"End character": 107,
"End date for period": "2022-01-01",
"Label": "us-gaap:TreasuryStockAcquiredAverageCostPerShare",
"Start character": 102,
"Start date for period": "2021-10-03",
"Value": 91.74
}
] |
10-Q | 0000785786-23-000012 | 20230203081733 | 20221231 | PLEXUS CORP | On August 18, 2022, the Board of Directors approved a share repurchase program under which the Company is authorized to repurchase up to $50.0 million of its common stock (the "2023 Program"). The 2023 Program became effective immediately and has no expiration. During the three months ended December 31, 2022, the Company repurchased 115,723 shares under this program for $11.5 million at an average price of $99.12 per share. As of December 31, 2022, $35.0 million of authority remained under the 2023 Program. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 142,
"End date for period": "2022-08-18",
"Label": "us-gaap:StockRepurchaseProgramAuthorizedAmount1",
"Start character": 138,
"Start date for period": "2022-08-18",
"Value": 50000000
},
{
"Currency / Unit": "xbrli:shares",
"End character": 342,
"End date for period": "2022-12-31",
"Label": "us-gaap:TreasuryStockSharesAcquired",
"Start character": 335,
"Start date for period": "2022-10-02",
"Value": 115723
},
{
"Currency / Unit": "iso4217:USD",
"End character": 378,
"End date for period": "2022-12-31",
"Label": "us-gaap:TreasuryStockValueAcquiredCostMethod",
"Start character": 374,
"Start date for period": "2022-10-02",
"Value": 11500000
},
{
"Currency / Unit": null,
"End character": 416,
"End date for period": "2022-12-31",
"Label": "us-gaap:TreasuryStockAcquiredAverageCostPerShare",
"Start character": 411,
"Start date for period": "2022-10-02",
"Value": 99.12
},
{
"Currency / Unit": "iso4217:USD",
"End character": 458,
"End date for period": "2022-12-31",
"Label": "us-gaap:StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1",
"Start character": 454,
"Start date for period": "2022-12-31",
"Value": 35000000
}
] |
10-Q | 0000785786-23-000012 | 20230203081733 | 20221231 | PLEXUS CORP | For each of the three months ended December 31, 2022 and January 1, 2022, approximately 81% and 87% of the Company's revenue, respectively, was recognized as products and services were transferred over time. | [
{
"Currency / Unit": "xbrli:pure",
"End character": 90,
"End date for period": "2022-12-31",
"Label": "plxs:PercentageofRevenue",
"Start character": 88,
"Start date for period": "2022-10-02",
"Value": 0.81
},
{
"Currency / Unit": "xbrli:pure",
"End character": 98,
"End date for period": "2022-01-01",
"Label": "plxs:PercentageofRevenue",
"Start character": 96,
"Start date for period": "2021-10-03",
"Value": 0.87
}
] |
10-Q | 0000785786-23-000012 | 20230203081733 | 20221231 | PLEXUS CORP | During the first quarter of fiscal 2023, the Company did not incur any restructuring and impairment charges. During the first quarter of fiscal 2022, the Company recorded $2.0 million of restructuring and impairment charges primarily due to employee severance costs associated with a facility transition in the Company's APAC segment. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 175,
"End date for period": "2022-01-01",
"Label": "us-gaap:RestructuringCharges",
"Start character": 172,
"Start date for period": "2021-10-03",
"Value": 2000000
}
] |
10-Q | 0000785786-23-000012 | 20230203081733 | 20221231 | PLEXUS CORP | The Company recognized a tax benefit of $0.2 million related to restructuring and impairment charges for the three months ended January 1, 2022. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 44,
"End date for period": "2022-01-01",
"Label": "us-gaap:OtherTaxExpenseBenefit",
"Start character": 41,
"Start date for period": "2021-10-03",
"Value": -200000
}
] |
10-Q | 0000353184-23-000014 | 20230210163054 | 20221231 | AIR T INC | The Contrail Credit Agreement contains affirmative and negative covenants, including covenants that restrict the ability of Contrail and its subsidiaries to, among other things, incur or guarantee indebtedness, incur liens, dispose of assets, engage in mergers and consolidations, make acquisitions or other investments, make changes in the nature of its business, and engage in transactions with affiliates. The Contrail Credit Agreement also contains quarterly financial covenants applicable to Contrail and its subsidiaries, including a minimum debt service coverage ratio of 1.25 to 1.0 and a minimum tangible net worth of $12.0 million. The Company is in compliance with such financial covenants as of December 31, 2022. However, management is forecasting that the Company will be in violation of the debt service coverage ratio during the twelve-month period subsequent to the date of this filing, primarily because the first principal payment of its Main Street loan ("Term Note G - ONB") becomes due in November 2023. Non-compliance with a debt covenant that is not subsequently cured gives Old National Bank ("ONB") the right to accelerate the maturity of the Contrail Credit Agreement and declare the entire amount of Contrail’s outstanding debt at the time of non-compliance immediately due and payable and exercise its remedies with respect to the collateral that secures the debt. Should ONB accelerate the maturity of the Contrail Credit Agreement, the Company would not have sufficient cash on hand or available liquidity to repay the outstanding debt in the event of default. | [
{
"Currency / Unit": "xbrli:pure",
"End character": 583,
"End date for period": "2022-12-31",
"Label": "airt:MinimumDebtServiceCoverageRatio",
"Start character": 579,
"Start date for period": "2022-04-01",
"Value": 1.25
}
] |
10-Q | 0000353184-23-000014 | 20230210163054 | 20221231 | AIR T INC | The obligations of Contrail under the Contrail Credit Agreement are also guaranteed by the Company, up to a maximum of $1.6 million, plus costs of collection. The Company is not liable for any other assets or liabilities of Contrail and there are no cross-default provisions with respect to Contrail’s debt in any of the Company’s debt agreements with other lenders. If Contrail were to cease operations, management believes the Company, along with the rest of its businesses, will continue to operate, given the maximum guarantee of Contrail’s obligations of $1.6 million, plus costs of collection. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 123,
"End date for period": "2022-12-31",
"Label": "us-gaap:GuaranteeObligationsCurrentCarryingValue",
"Start character": 120,
"Start date for period": "2022-12-31",
"Value": 1600000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 564,
"End date for period": "2022-12-31",
"Label": "us-gaap:GuaranteeObligationsCurrentCarryingValue",
"Start character": 561,
"Start date for period": "2022-12-31",
"Value": 1600000
}
] |
10-Q | 0000353184-23-000014 | 20230210163054 | 20221231 | AIR T INC | On December 2, 2021, the Company, through its wholly-owned subsidiary Wolfe Lake HQ, LLC, completed the purchase of the real estate located at 5000 36th Street West, St. Louis Park, Minnesota pursuant to a real estate purchase agreement with WLPC East, LLC, a Minnesota limited liability company (an unaffiliated third-party) dated October 11, 2021. The real estate purchased consists of a 2-story office building, asphalt-paved driveways and parking areas, and landscaping. The building was constructed in 2004 with an estimated 54,742 total square feet of space. The real estate purchased is where Air T's Minnesota executive office is currently located. With this purchase, the Company assumed 11 leases from existing tenants occupying the building. | [
{
"Currency / Unit": "utr:sqft",
"End character": 536,
"End date for period": "2021-12-02",
"Label": "us-gaap:AreaOfLand",
"Start character": 530,
"Start date for period": "2021-12-02",
"Value": 54742
},
{
"Currency / Unit": "airt:lease",
"End character": 699,
"End date for period": "2021-12-02",
"Label": "airt:AssetAcquisitionNumberOfLeasesAcquired",
"Start character": 697,
"Start date for period": "2021-12-02",
"Value": 11
}
] |
10-Q | 0000353184-23-000014 | 20230210163054 | 20221231 | AIR T INC | The total amount recorded for the real estate was $13.4 million, which included the purchase price of $13.2 million and total direct capitalized acquisition costs of $0.2 million. The consideration paid for the real estate consisted of approximately $3.3 million in cash and a new secured loan from Bridgewater Bank ("Bridgewater") with an aggregate principal amount of $9.9 million and a fixed interest rate of 3.65% which matures on December 2, 2031. See | [
{
"Currency / Unit": "iso4217:USD",
"End character": 55,
"End date for period": "2021-12-02",
"Label": "us-gaap:BusinessCombinationConsiderationTransferred1",
"Start character": 51,
"Start date for period": "2021-12-02",
"Value": 13400000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 107,
"End date for period": "2021-12-02",
"Label": "us-gaap:PaymentsToAcquireBusinessesGross",
"Start character": 103,
"Start date for period": "2021-12-02",
"Value": 13200000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 170,
"End date for period": "2021-12-02",
"Label": "us-gaap:AcquisitionCosts",
"Start character": 167,
"Start date for period": "2021-12-02",
"Value": 200000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 254,
"End date for period": "2021-12-02",
"Label": "us-gaap:PaymentsToAcquireRealEstate",
"Start character": 251,
"Start date for period": "2021-12-02",
"Value": 3300000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 374,
"End date for period": "2021-12-02",
"Label": "us-gaap:DebtInstrumentFaceAmount",
"Start character": 371,
"Start date for period": "2021-12-02",
"Value": 9900000
},
{
"Currency / Unit": "xbrli:pure",
"End character": 416,
"End date for period": "2021-12-02",
"Label": "us-gaap:DebtInstrumentInterestRateStatedPercentage",
"Start character": 412,
"Start date for period": "2021-12-02",
"Value": 0.036500000000000005
}
] |
10-Q | 0000353184-23-000014 | 20230210163054 | 20221231 | AIR T INC | . As part of the transaction, the executive management of the underlying business purchased 30.0% of Shanwick. Air T Acquisition 22.1 and its consolidated subsidiaries are included within the Corporate and other segment. | [
{
"Currency / Unit": "xbrli:pure",
"End character": 96,
"End date for period": "2022-02-10",
"Label": "us-gaap:BusinessAcquisitionPercentageOfVotingInterestsAcquired",
"Start character": 92,
"Start date for period": "2022-02-10",
"Value": 0.30000000000000004
}
] |
10-Q | 0000353184-23-000014 | 20230210163054 | 20221231 | AIR T INC | Subsequent to the acquisition date, the Company made certain measurement period adjustments to the preliminary purchase price allocation, which resulted in an increase to goodwill of $0.3 million. The increase is attributable to a measurement period adjustment of $0.3 million related to certain intangible assets acquired and related deferred tax liabilities assumed due to clarification of information utilized to determine fair value during the measurement period. As of June 30, 2022, the measurement period was completed and all adjustments are reflected in the tables below. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 187,
"End date for period": "2022-06-30",
"Label": "us-gaap:GoodwillPurchaseAccountingAdjustments",
"Start character": 184,
"Start date for period": "2022-02-11",
"Value": 300000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 268,
"End date for period": "2022-06-30",
"Label": "us-gaap:GoodwillPurchaseAccountingAdjustments",
"Start character": 265,
"Start date for period": "2022-02-11",
"Value": 300000
}
] |
10-Q | 0000353184-23-000014 | 20230210163054 | 20221231 | AIR T INC | During the three-month period ended December 31, 2022, the Company recorded global income tax benefit of $0.2 million at an effective tax rate of 325.0%. The Company records income taxes using an estimated annual effective tax rate for interim reporting. The primary factors contributing to the difference between the federal statutory rate of 21.0% and the Company's effective tax rate for the three-month period ended December 31, 2022 were the change in valuation allowance related to the Company's subsidiaries in the corporate and other segment, Delphax Solutions, Inc. and Delphax Technologies, Inc. (collectively known as "Delphax") and other capital losses, the estimated benefit for the exclusion of income for the Company's captive insurance company subsidiary ("SAIC") under Section 831(b), the foreign rate differentials between the federal and foreign tax rates for Air T’s ownership of foreign operations in Puerto Rico, the Netherlands, and Singapore, and the exclusion from the tax provision of the minority owned portion of the pretax income of Contrail. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 109,
"End date for period": "2022-12-31",
"Label": "us-gaap:IncomeTaxExpenseBenefit",
"Start character": 106,
"Start date for period": "2022-10-01",
"Value": -200000
},
{
"Currency / Unit": "xbrli:pure",
"End character": 151,
"End date for period": "2022-12-31",
"Label": "us-gaap:EffectiveIncomeTaxRateContinuingOperations",
"Start character": 146,
"Start date for period": "2022-10-01",
"Value": 3.25
}
] |
10-Q | 0000353184-23-000014 | 20230210163054 | 20221231 | AIR T INC | During the three-month period ended December 31, 2021, the Company recorded $0.3 million in income tax expense at an ETR of 19.2%. The primary factors contributing to the difference between the federal statutory rate of 21.0% and the Company's effective tax rate for the three-month period ended December 31, 2021 were the change in valuation allowance related to Delphax, the estimated benefit for the exclusion of income for SAIC under Section 831(b), the exclusion from the tax provision of the minority owned portion of the pretax income of Contrail. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 80,
"End date for period": "2021-12-31",
"Label": "us-gaap:IncomeTaxExpenseBenefit",
"Start character": 77,
"Start date for period": "2021-10-01",
"Value": -300000
},
{
"Currency / Unit": "xbrli:pure",
"End character": 128,
"End date for period": "2021-12-31",
"Label": "us-gaap:EffectiveIncomeTaxRateContinuingOperations",
"Start character": 124,
"Start date for period": "2021-10-01",
"Value": 0.192
}
] |
10-Q | 0000353184-23-000014 | 20230210163054 | 20221231 | AIR T INC | During the nine-month period ended December 31, 2022, the Company recorded global income tax benefit of $0.5 million at an effective tax rate of 20.9%. The Company records income taxes using an estimated annual effective tax rate for interim reporting. The primary factors contributing to the difference between the federal statutory rate of 21.0% and the Company's effective tax rate for the nine-month period ended December 31, 2022 were the change in valuation allowance related to Delphax and other capital losses, the estimated benefit for the exclusion of income for SAIC under Section 831(b), the foreign rate differentials between the federal and foreign tax rates for Air T’s ownership of foreign operations in Puerto Rico, the Netherlands, and Singapore, and the exclusion from the tax provision of the minority owned portion of the pretax income of Contrail. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 108,
"End date for period": "2022-12-31",
"Label": "us-gaap:IncomeTaxExpenseBenefit",
"Start character": 105,
"Start date for period": "2022-04-01",
"Value": -500000
},
{
"Currency / Unit": "xbrli:pure",
"End character": 149,
"End date for period": "2022-12-31",
"Label": "us-gaap:EffectiveIncomeTaxRateContinuingOperations",
"Start character": 145,
"Start date for period": "2022-04-01",
"Value": 0.209
}
] |
10-Q | 0000353184-23-000014 | 20230210163054 | 20221231 | AIR T INC | During the nine-month period ended December 31, 2021, the Company recorded $0.2 million in income tax expense at an effective rate of (3.6)%. The primary factors contributing to the difference between the federal statutory rate of 21.0% and the Company's effective tax rate for the nine-month period ended December 31, 2021 were the change in valuation allowance related to Delphax, the estimated benefit for the exclusion of income for SAIC under Section 831(b), the exclusion from the tax provision of the minority owned portion of the pretax income of Contrail, the exclusion from taxable income of the PPP loan forgiveness income, as directed by the CARES Act enacted in 2020, and any accrued interest forgiven as a part of that Act. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 79,
"End date for period": "2021-12-31",
"Label": "us-gaap:IncomeTaxExpenseBenefit",
"Start character": 76,
"Start date for period": "2021-04-01",
"Value": -200000
},
{
"Currency / Unit": "xbrli:pure",
"End character": 138,
"End date for period": "2021-12-31",
"Label": "us-gaap:EffectiveIncomeTaxRateContinuingOperations",
"Start character": 135,
"Start date for period": "2021-04-01",
"Value": 0.036000000000000004
}
] |
10-Q | 0000353184-23-000014 | 20230210163054 | 20221231 | AIR T INC | During the three months ended September 30, 2022, 3,750 options were exercised under the Air T's 2012 Stock Option Plan at $5.75 per share, which was disclosed within our condensed consolidated statement of equity. 7,500 unexpired options remain outstanding under this plan as of December 31, 2022. | [
{
"Currency / Unit": "xbrli:shares",
"End character": 55,
"End date for period": "2022-09-30",
"Label": "us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised",
"Start character": 50,
"Start date for period": "2022-07-01",
"Value": 3750
},
{
"Currency / Unit": null,
"End character": 128,
"End date for period": "2022-09-30",
"Label": "us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice",
"Start character": 124,
"Start date for period": "2022-07-01",
"Value": 5.75
},
{
"Currency / Unit": "xbrli:shares",
"End character": 220,
"End date for period": "2022-12-31",
"Label": "us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber",
"Start character": 215,
"Start date for period": "2022-12-31",
"Value": 7500
}
] |
10-Q | 0000353184-23-000014 | 20230210163054 | 20221231 | AIR T INC | During the quarter ended September 30, 2022, the Company impaired $0.3 million of previously capitalized costs related to a software project that was deemed no longer probable to be completed and placed in service. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 70,
"End date for period": "2022-09-30",
"Label": "us-gaap:CapitalizedComputerSoftwareImpairments1",
"Start character": 67,
"Start date for period": "2022-07-01",
"Value": 300000
}
] |
10-Q | 0000353184-23-000014 | 20230210163054 | 20221231 | AIR T INC | The carrying amount of goodwill as of December 31, 2022 and March 31, 2022 was $10.4 million and $10.1 million, respectively. The change from March 31, 2022 to December 31, 2022 was due to foreign exchange translation. There was no impairment on goodwill during the nine months ended December 31, 2022. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 84,
"End date for period": "2022-12-31",
"Label": "us-gaap:Goodwill",
"Start character": 80,
"Start date for period": "2022-12-31",
"Value": 10400000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 102,
"End date for period": "2022-03-31",
"Label": "us-gaap:Goodwill",
"Start character": 98,
"Start date for period": "2022-03-31",
"Value": 10100000
}
] |
10-Q | 0000353184-23-000014 | 20230210163054 | 20221231 | AIR T INC | As part of the Company’s interest rate risk management strategy, the Company, from time to time, uses derivative instruments to minimize significant unanticipated earnings fluctuations that may arise from rising variable interest rate costs associated with existing borrowings (Air T Term Note A and Term Note D). To meet these objectives, the Company entered into interest rate swaps with notional amounts consistent with the outstanding debt to provide a fixed rate of 4.56% and 5.09%, respectively, on Term Notes A and D. The swaps mature in January 2028. | [
{
"Currency / Unit": "xbrli:pure",
"End character": 475,
"End date for period": "2022-12-31",
"Label": "us-gaap:DebtInstrumentInterestRateStatedPercentage",
"Start character": 471,
"Start date for period": "2022-12-31",
"Value": 0.0456
},
{
"Currency / Unit": "xbrli:pure",
"End character": 485,
"End date for period": "2022-12-31",
"Label": "us-gaap:DebtInstrumentInterestRateStatedPercentage",
"Start character": 481,
"Start date for period": "2022-12-31",
"Value": 0.0509
}
] |
10-Q | 0000353184-23-000014 | 20230210163054 | 20221231 | AIR T INC | On August 31, 2021, Air T and Minnesota Bank & Trust ("MBT") refinanced Term Note A and fixed its interest rate at 3.42%. As a result of this refinancing, the Company determined that the interest rate swap on Term Note A was no longer an effective hedge. The Company will amortize the fair value of the interest-rate swap contract included in accumulated other comprehensive income (loss) associated with Term Note A at the time of de-designation into earnings over the remainder of its term. In addition, any changes in the fair value of Term Note A's swap after August 31, 2021 are recognized directly into earnings. The remaining swap contract associated with Term Note D is designated as an effective cash flow hedging instrument in accordance with ASC 815. | [
{
"Currency / Unit": "xbrli:pure",
"End character": 119,
"End date for period": "2021-08-31",
"Label": "us-gaap:DebtInstrumentInterestRateStatedPercentage",
"Start character": 115,
"Start date for period": "2021-08-31",
"Value": 0.0342
}
] |
10-Q | 0000353184-23-000014 | 20230210163054 | 20221231 | AIR T INC | On January 7, 2022, Contrail completed an interest rate swap transaction with Old National Bank ("ONB") with respect to the $43.6 million loan made to Contrail in November 2020 pursuant to the Main Street Priority Loan Facility as established by the U.S. Federal Reserve ("Contrail - Term Note G"). The purpose of the floating-to-fixed interest rate swap transaction was to effectively fix the loan interest rate at 4.68%. As of February 24, 2022, this swap contract has been designated as a cash flow hedging instrument and qualified as an effective hedge in accordance with ASC 815. During the period between January 7, 2022 and February 24, 2022, the Company recorded a loss of approximately $0.1 million in the consolidated statement of income (loss) due to the changes in the fair value of the instrument prior to the designation and qualification of this instrument as an effective hedge. After it was deemed an effective hedge, the Company recorded changes in the fair value of the instrument in the consolidated statement of comprehensive income (loss). | [
{
"Currency / Unit": "iso4217:USD",
"End character": 129,
"End date for period": "2022-01-07",
"Label": "us-gaap:DebtInstrumentCarryingAmount",
"Start character": 125,
"Start date for period": "2022-01-07",
"Value": 43600000
},
{
"Currency / Unit": "xbrli:pure",
"End character": 420,
"End date for period": "2022-01-07",
"Label": "us-gaap:DebtInstrumentInterestRateStatedPercentage",
"Start character": 416,
"Start date for period": "2022-01-07",
"Value": 0.0468
},
{
"Currency / Unit": "iso4217:USD",
"End character": 699,
"End date for period": "2022-02-24",
"Label": "us-gaap:DerivativeLossOnDerivative",
"Start character": 696,
"Start date for period": "2022-01-07",
"Value": 100000
}
] |
10-Q | 0000353184-23-000014 | 20230210163054 | 20221231 | AIR T INC | For the swaps related to Air T Term Note D and Contrail - Term Note G, the effective portion of changes in the fair value on these instruments is recorded in other comprehensive income (loss) and is reclassified into the consolidated statement of income (loss) as interest expense in the same period in which the underlying hedged transactions affect earnings. The interest rate swaps are considered Level 2 fair value measurements. As of December 31, 2022 and March 31, 2022, the fair value of these interest-rate swap contracts was an asset of $2.9 million and $0.9 million, respectively, which is included within other assets in the condensed consolidated balance sheets. During the three and nine months ended December 31, 2022, the Company recorded a loss of approximately $0.1 million and gain of $1.4 million, net of tax, respectively. During the three and nine months ended December 31, 2021, the Company recorded a loss of approximately $20.0 thousand and a gain of $37.0 thousand, net of tax, respectively. These gains and losses are included in the condensed consolidated statement of comprehensive income (loss) for changes in the fair value of these instruments. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 550,
"End date for period": "2022-12-31",
"Label": "us-gaap:DerivativeAssets",
"Start character": 547,
"Start date for period": "2022-12-31",
"Value": 2900000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 567,
"End date for period": "2022-03-31",
"Label": "us-gaap:DerivativeAssets",
"Start character": 564,
"Start date for period": "2022-03-31",
"Value": 900000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 782,
"End date for period": "2022-12-31",
"Label": "us-gaap:OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax",
"Start character": 779,
"Start date for period": "2022-10-01",
"Value": -100000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 807,
"End date for period": "2022-12-31",
"Label": "us-gaap:OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax",
"Start character": 804,
"Start date for period": "2022-04-01",
"Value": 1400000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 951,
"End date for period": "2021-12-31",
"Label": "us-gaap:OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax",
"Start character": 947,
"Start date for period": "2021-10-01",
"Value": -20000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 980,
"End date for period": "2021-12-31",
"Label": "us-gaap:OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax",
"Start character": 976,
"Start date for period": "2021-04-01",
"Value": 37000
}
] |
10-Q | 0000353184-23-000014 | 20230210163054 | 20221231 | AIR T INC | The Company may, from time to time, employ trading strategies designed to profit from market anomalies and opportunities it identifies. Management uses derivative financial instruments to execute those strategies, which may include options, and futures contracts. These derivative instruments are priced using publicly quoted market prices and are considered Level 1 fair value measurements. During the three months ended December 31, 2022, related to these derivative instruments, the Company had no gross gain and a gross loss aggregating to $0.1 million. During the nine months ended December 31, 2022, the Company had a gross gain aggregating to $46.0 thousand and a gross loss aggregating to $0.1 million. During the three and nine months ended December 31, 2021, the Company did not record any gain or loss related to derivative instruments. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 96,
"End date for period": "2022-12-31",
"Label": "us-gaap:GainOnDerivativeInstrumentsPretax",
"Start character": 94,
"Start date for period": "2022-10-01",
"Value": 0
},
{
"Currency / Unit": "iso4217:USD",
"End character": 548,
"End date for period": "2022-12-31",
"Label": "us-gaap:LossOnDerivativeInstrumentsPretax",
"Start character": 545,
"Start date for period": "2022-10-01",
"Value": 100000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 655,
"End date for period": "2022-12-31",
"Label": "us-gaap:GainOnDerivativeInstrumentsPretax",
"Start character": 651,
"Start date for period": "2022-04-01",
"Value": 46000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 701,
"End date for period": "2022-12-31",
"Label": "us-gaap:LossOnDerivativeInstrumentsPretax",
"Start character": 698,
"Start date for period": "2022-10-01",
"Value": 100000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 787,
"End date for period": "2022-12-31",
"Label": "us-gaap:GainOnDerivativeInstrumentsPretax",
"Start character": 785,
"Start date for period": "2022-10-01",
"Value": 0
}
] |
10-Q | 0000353184-23-000014 | 20230210163054 | 20221231 | AIR T INC | The Company also invests in exchange-traded marketable securities and accounts for that activity in accordance with ASC 321, Investments- Equity Securities. Marketable equity securities are carried at fair value, with changes in fair market value included in the determination of net income. The fair market value of marketable equity securities is determined based on quoted market prices in active markets and are therefore, considered Level 1 fair value measurements. During the three months ended December 31, 2022, the Company had a gross unrealized gain aggregating to $0.3 million and a gross unrealized loss aggregating to $0.5 million. During the nine months ended December 31, 2022, the Company had a gross unrealized gain aggregating to $0.3 million and a gross unrealized loss aggregating to $0.8 million. During the three months ended December 31, 2021, the Company had a gross unrealized gain aggregating to $1.7 million and a gross unrealized loss aggregating to $1.9 million. During the nine months ended December 31, 2021, the Company had a gross unrealized gain aggregating to $2.5 million and a gross unrealized loss aggregating to $2.1 million. These unrealized gains and losses are included in other income (loss) on the condensed consolidated statement of income (loss). | [
{
"Currency / Unit": "iso4217:USD",
"End character": 579,
"End date for period": "2022-12-31",
"Label": "us-gaap:EquitySecuritiesFvNiUnrealizedGain",
"Start character": 576,
"Start date for period": "2022-10-01",
"Value": 300000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 635,
"End date for period": "2022-12-31",
"Label": "us-gaap:EquitySecuritiesFvNiUnrealizedLoss",
"Start character": 632,
"Start date for period": "2022-10-01",
"Value": 500000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 752,
"End date for period": "2022-12-31",
"Label": "us-gaap:EquitySecuritiesFvNiUnrealizedGain",
"Start character": 749,
"Start date for period": "2022-10-01",
"Value": 300000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 808,
"End date for period": "2022-12-31",
"Label": "us-gaap:EquitySecuritiesFvNiUnrealizedLoss",
"Start character": 805,
"Start date for period": "2022-04-01",
"Value": 800000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 926,
"End date for period": "2021-12-31",
"Label": "us-gaap:EquitySecuritiesFvNiUnrealizedGain",
"Start character": 923,
"Start date for period": "2021-10-01",
"Value": 1700000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 982,
"End date for period": "2021-12-31",
"Label": "us-gaap:EquitySecuritiesFvNiUnrealizedLoss",
"Start character": 979,
"Start date for period": "2021-10-01",
"Value": 1900000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 1099,
"End date for period": "2021-12-31",
"Label": "us-gaap:EquitySecuritiesFvNiUnrealizedGain",
"Start character": 1096,
"Start date for period": "2021-04-01",
"Value": 2500000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 1155,
"End date for period": "2021-12-31",
"Label": "us-gaap:EquitySecuritiesFvNiUnrealizedLoss",
"Start character": 1152,
"Start date for period": "2021-04-01",
"Value": 2100000
}
] |
10-Q | 0000353184-23-000014 | 20230210163054 | 20221231 | AIR T INC | The Company’s investment in Insignia Systems, Inc. - NASDAQ: ISIG (“Insignia”) is accounted for under the equity method of accounting. The Company has elected a three-month lag upon adoption of the equity method. As of December 31, 2022, the number of Insignia's shares owned by the Company was 0.5 million, representing approximately 27.3% of the outstanding shares. During the fiscal year ended March 31, 2021, due to loss attributions and impairments taken in prior fiscal years, the Company's net investment basis in Insignia was reduced to $0. On August 23, 2021, Insignia restated its 10-K for the fiscal year ended December 31, 2020 and its 10-Q for the quarter ended March 31, 2021. The Company evaluated these restatements and determined that they would not result in any additional impact on the Company's condensed consolidated financial statements. During the three months ended September 30, 2022, Insignia recorded net income of $11.8 million, which was primarily driven by a gain on litigation settlement of $12.0 million. As a result, during the three months ended December 31, 2022, the Company's share of Insignia's net income for three months ended September 30, 2022 was $3.2 million. The Company applied $1.4 million to offset the cumulative value of unrecorded share of losses, resulting in net income recognition of $1.8 million. | [
{
"Currency / Unit": "xbrli:shares",
"End character": 298,
"End date for period": "2022-12-31",
"Label": "us-gaap:InvestmentOwnedBalanceShares",
"Start character": 295,
"Start date for period": "2022-12-31",
"Value": 500000
},
{
"Currency / Unit": "xbrli:pure",
"End character": 339,
"End date for period": "2022-12-31",
"Label": "us-gaap:EquityMethodInvestmentOwnershipPercentage",
"Start character": 335,
"Start date for period": "2022-12-31",
"Value": 0.273
},
{
"Currency / Unit": "iso4217:USD",
"End character": 409,
"End date for period": "2021-03-31",
"Label": "us-gaap:EquityMethodInvestments",
"Start character": 408,
"Start date for period": "2021-03-31",
"Value": 0
},
{
"Currency / Unit": "iso4217:USD",
"End character": 948,
"End date for period": "2022-09-30",
"Label": "us-gaap:ProfitLoss",
"Start character": 944,
"Start date for period": "2022-07-01",
"Value": 11800000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 1028,
"End date for period": "2022-09-30",
"Label": "us-gaap:GainLossRelatedToLitigationSettlement",
"Start character": 1024,
"Start date for period": "2022-07-01",
"Value": 12000000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 1195,
"End date for period": "2022-09-30",
"Label": "us-gaap:IncomeLossFromEquityMethodInvestments",
"Start character": 1192,
"Start date for period": "2022-07-01",
"Value": 3200000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 1229,
"End date for period": "2022-12-31",
"Label": "airt:IncomeFromEquityMethodInvestmentsAllocatedToCumulativeUnrecordedShareOfLosses",
"Start character": 1226,
"Start date for period": "2022-12-31",
"Value": 1400000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 1343,
"End date for period": "2022-12-31",
"Label": "us-gaap:IncomeLossFromEquityMethodInvestments",
"Start character": 1340,
"Start date for period": "2022-10-01",
"Value": 1800000
}
] |
10-Q | 0000353184-23-000014 | 20230210163054 | 20221231 | AIR T INC | The Company's 20.1% investment in Cadillac Casting, Inc. ("CCI") is accounted for under the equity method of accounting. Due to the differing fiscal year-ends, the Company has elected a three-month lag to record the CCI investment at cost, with a basis difference of $0.3 million. The Company recorded income of $0.3 million and $1.0 million as its share of CCI's net income for the three and nine months ended December 31, 2022, along with a basis difference adjustment of $12.0 thousand and $37.0 thousand, respectively. The Company's net investment basis in CCI is $3.4 million as of December 31, 2022. During the quarter ended December 31, 2022, the Company also paid off the $2.0 million promissory note payable to CCI. See | [
{
"Currency / Unit": "xbrli:pure",
"End character": 18,
"End date for period": "2022-12-31",
"Label": "us-gaap:EquityMethodInvestmentOwnershipPercentage",
"Start character": 14,
"Start date for period": "2022-12-31",
"Value": 0.201
},
{
"Currency / Unit": "iso4217:USD",
"End character": 271,
"End date for period": "2022-12-31",
"Label": "us-gaap:EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity",
"Start character": 268,
"Start date for period": "2022-12-31",
"Value": 300000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 316,
"End date for period": "2022-12-31",
"Label": "us-gaap:EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity",
"Start character": 313,
"Start date for period": "2022-12-31",
"Value": 300000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 333,
"End date for period": "2022-12-31",
"Label": "us-gaap:IncomeLossFromEquityMethodInvestments",
"Start character": 330,
"Start date for period": "2022-04-01",
"Value": 1000000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 479,
"End date for period": "2022-12-31",
"Label": "us-gaap:EquityMethodInvestmentRealizedGainLossOnDisposal",
"Start character": 475,
"Start date for period": "2022-10-01",
"Value": -12000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 498,
"End date for period": "2022-12-31",
"Label": "us-gaap:EquityMethodInvestmentRealizedGainLossOnDisposal",
"Start character": 494,
"Start date for period": "2022-04-01",
"Value": -37000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 572,
"End date for period": "2022-12-31",
"Label": "us-gaap:EquityMethodInvestments",
"Start character": 569,
"Start date for period": "2022-12-31",
"Value": 3400000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 684,
"End date for period": "2022-12-31",
"Label": "us-gaap:DebtInstrumentFaceAmount",
"Start character": 681,
"Start date for period": "2022-12-31",
"Value": 2000000
}
] |
10-Q | 0000353184-23-000014 | 20230210163054 | 20221231 | AIR T INC | On June 9, 2022, the Company, Jet Yard and MBT entered into Amendment No. 1 to Third Amended and Restated Credit Agreement (“Amendment”) and a related Overline Note (“Overline Note”) in the original principal amount of $5.0 million. The Amendment and Note memorialize an increase to the amount that may be drawn by the Company on the MBT revolving credit agreement from $17.0 million to $22.0 million. As of December 31, 2022, the unused commitment on the Overline Note and the MBT revolver was $5.0 million and $8.2 million, respectively. The total amount of borrowings under the facility as revised is now the Company’s calculated borrowing base or $22.0 million. The borrowing base calculation methodology remains unchanged. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 223,
"End date for period": "2022-06-09",
"Label": "us-gaap:DebtInstrumentFaceAmount",
"Start character": 220,
"Start date for period": "2022-06-09",
"Value": 5000000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 375,
"End date for period": "2022-06-08",
"Label": "us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity",
"Start character": 371,
"Start date for period": "2022-06-08",
"Value": 17000000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 392,
"End date for period": "2022-06-09",
"Label": "us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity",
"Start character": 388,
"Start date for period": "2022-06-09",
"Value": 22000000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 499,
"End date for period": "2022-06-09",
"Label": "us-gaap:DebtInstrumentFaceAmount",
"Start character": 496,
"Start date for period": "2022-06-09",
"Value": 5000000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 516,
"End date for period": "2022-12-31",
"Label": "us-gaap:DebtInstrumentUnusedBorrowingCapacityAmount",
"Start character": 513,
"Start date for period": "2022-12-31",
"Value": 8199999.999999999
},
{
"Currency / Unit": "iso4217:USD",
"End character": 656,
"End date for period": "2022-06-09",
"Label": "us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity",
"Start character": 652,
"Start date for period": "2022-06-09",
"Value": 22000000
}
] |
10-Q | 0000353184-23-000014 | 20230210163054 | 20221231 | AIR T INC | The interest rate on borrowings under the facility that are less than $17.0 million remains at the greater of 2.50% or Prime minus 1.00%. The interest rate applicable to borrowings under the facility that exceed $17.0 million is the greater of 2.50% or Prime plus 0.50%. The commitment fee on unused borrowings below $17.0 million remains at 0.11%. The commitment fee on unused borrowings above $17.0 million is 0.20%. The Amendment also includes an additional covenant to the credit agreement, namely the requirement that the Company provide inventory appraisals for AirCo, AirCo Services and Worthington to MBT twice a year. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 75,
"End date for period": "2022-06-09",
"Label": "airt:DebtInstrumentOutstandingBorrowingAmountTriggerForBorrowingRate",
"Start character": 71,
"Start date for period": "2022-06-09",
"Value": 17000000
},
{
"Currency / Unit": "xbrli:pure",
"End character": 114,
"End date for period": "2022-06-09",
"Label": "us-gaap:DebtInstrumentInterestRateStatedPercentage",
"Start character": 110,
"Start date for period": "2022-06-09",
"Value": 0.025
},
{
"Currency / Unit": "xbrli:pure",
"End character": 135,
"End date for period": "2022-06-09",
"Label": "us-gaap:DebtInstrumentBasisSpreadOnVariableRate1",
"Start character": 131,
"Start date for period": "2022-06-09",
"Value": 0.01
},
{
"Currency / Unit": "iso4217:USD",
"End character": 217,
"End date for period": "2022-06-09",
"Label": "airt:DebtInstrumentOutstandingBorrowingAmountTriggerForBorrowingRate",
"Start character": 213,
"Start date for period": "2022-06-09",
"Value": 17000000
},
{
"Currency / Unit": "xbrli:pure",
"End character": 248,
"End date for period": "2022-06-09",
"Label": "us-gaap:DebtInstrumentInterestRateStatedPercentage",
"Start character": 244,
"Start date for period": "2022-06-09",
"Value": 0.025
},
{
"Currency / Unit": "xbrli:pure",
"End character": 268,
"End date for period": "2022-06-09",
"Label": "us-gaap:DebtInstrumentBasisSpreadOnVariableRate1",
"Start character": 264,
"Start date for period": "2022-06-09",
"Value": 0.005
},
{
"Currency / Unit": "iso4217:USD",
"End character": 322,
"End date for period": "2022-06-09",
"Label": "airt:DebtInstrumentOutstandingBorrowingAmountTriggerForBorrowingRate",
"Start character": 318,
"Start date for period": "2022-06-09",
"Value": 17000000
},
{
"Currency / Unit": "xbrli:pure",
"End character": 346,
"End date for period": "2022-06-09",
"Label": "us-gaap:LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage",
"Start character": 342,
"Start date for period": "2022-06-09",
"Value": 0.0011
},
{
"Currency / Unit": "iso4217:USD",
"End character": 400,
"End date for period": "2022-06-09",
"Label": "airt:DebtInstrumentOutstandingBorrowingAmountTriggerForBorrowingRate",
"Start character": 396,
"Start date for period": "2022-06-09",
"Value": 17000000
},
{
"Currency / Unit": "xbrli:pure",
"End character": 416,
"End date for period": "2022-06-09",
"Label": "us-gaap:LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage",
"Start character": 412,
"Start date for period": "2022-06-09",
"Value": 0.002
}
] |
10-Q | 0000353184-23-000014 | 20230210163054 | 20221231 | AIR T INC | The Overline loan and commitment mature on the earlier of March 31, 2023 or the date on which the Company receives all funds from the Company’s Employee Retention Credit ("ERC") application (estimated at approximately $9.1 million) filed on or about January 24, 2022 plus the full receipt of the Company’s carryback tax refund for the year (estimated at approximately $2.6 million) filed on or about August 19, 2021. Both were applied for under different components of the CARES Act. As of December 31, 2022, the Company has received $2.5 million of the ERC and $1.2 million of the carryback tax refunds. It is not possible to estimate when, or if, the remainder of these funds may be received. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 222,
"End date for period": "2022-06-09",
"Label": "airt:EmployeeRetentionTaxCredit",
"Start character": 219,
"Start date for period": "2022-06-09",
"Value": 9100000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 372,
"End date for period": "2022-06-09",
"Label": "us-gaap:IncomeTaxReceivable",
"Start character": 369,
"Start date for period": "2022-06-09",
"Value": 2600000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 538,
"End date for period": "2022-12-31",
"Label": "airt:CumulativeProceedsFromEmployeeRetentionCredit",
"Start character": 535,
"Start date for period": "2022-12-31",
"Value": 2500000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 566,
"End date for period": "2022-12-31",
"Label": "us-gaap:ProceedsFromIncomeTaxRefunds",
"Start character": 563,
"Start date for period": "2022-04-01",
"Value": 1200000
}
] |
10-Q | 0000353184-23-000014 | 20230210163054 | 20221231 | AIR T INC | On September 30, 2022, the Company executed a promissory note payable to CCI ("Promissory Note - CCI") for $2.0 million that bears interest at 10.00% per annum and matured on December 30, 2022. As of December 31, 2022, this note has been repaid without penalty. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 111,
"End date for period": "2022-09-30",
"Label": "us-gaap:DebtInstrumentFaceAmount",
"Start character": 108,
"Start date for period": "2022-09-30",
"Value": 2000000
},
{
"Currency / Unit": "xbrli:pure",
"End character": 148,
"End date for period": "2022-09-30",
"Label": "us-gaap:DebtInstrumentInterestRateStatedPercentage",
"Start character": 143,
"Start date for period": "2022-09-30",
"Value": 0.1
}
] |
10-Q | 0000353184-23-000014 | 20230210163054 | 20221231 | AIR T INC | On November 8, 2022, Contrail entered into the Second Amendment to Master Loan Agreement (the “Amendment”) with ONB. The Amendment amends the Master Loan Agreement dated as of June 24, 2019, as amended. The principal revisions made in the Amendment are: (i) the tangible net worth covenant was revised to require that Contrail maintain a tangible net worth of at least $12.0 million at all times prior to March 31, 2024 and $15.0 million at all times on or following March 31, 2024; and, (ii) that all proceeds from certain asset sales during the period beginning on October 1, 2022 and ending on March 31, 2023 be applied as prepayments on Term Loan G. Contrail executed a Collateral Assignment of two Aircraft engines in connection with the Amendment. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 374,
"End date for period": "2022-11-08",
"Label": "airt:DebtCovenantTangibleAssetNetWorth",
"Start character": 370,
"Start date for period": "2022-11-08",
"Value": 12000000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 429,
"End date for period": "2022-11-08",
"Label": "airt:DebtCovenantTangibleAssetNetWorth",
"Start character": 425,
"Start date for period": "2022-11-08",
"Value": 15000000
}
] |
10-Q | 0000353184-23-000014 | 20230210163054 | 20221231 | AIR T INC | Earlier of 3/31/23 or the date on which Air T has received the payment from the federal income tax refunds in the amount of approximately $2.6 million and Employee Retention Tax Credits in an amount not less than $9.1 million. As of December 31, 2022, the Company has received $2.5 million of the ERC and $1.2 million of the federal income tax refunds. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 143,
"End date for period": "2022-12-31",
"Label": "us-gaap:ProceedsFromIncomeTaxRefunds",
"Start character": 140,
"Start date for period": "2022-10-01",
"Value": 2600000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 218,
"End date for period": "2022-12-31",
"Label": "airt:EmployeeRetentionTaxCredit",
"Start character": 215,
"Start date for period": "2022-12-31",
"Value": 9100000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 282,
"End date for period": "2022-12-31",
"Label": "airt:CumulativeProceedsFromEmployeeRetentionCredit",
"Start character": 279,
"Start date for period": "2022-12-31",
"Value": 2500000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 310,
"End date for period": "2022-12-31",
"Label": "us-gaap:ProceedsFromIncomeTaxRefunds",
"Start character": 307,
"Start date for period": "2022-04-01",
"Value": 1200000
}
] |
10-Q | 0000353184-23-000014 | 20230210163054 | 20221231 | AIR T INC | On September 30, 2022, the Company executed a promissory note payable to CCI for $2.0 million. As of December 31, 2022, this note has been repaid. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 86,
"End date for period": "2022-09-30",
"Label": "us-gaap:DebtInstrumentFaceAmount",
"Start character": 83,
"Start date for period": "2022-09-30",
"Value": 2000000
}
] |
10-Q | 0000353184-23-000014 | 20230210163054 | 20221231 | AIR T INC | The Company has four business segments: overnight air cargo, ground equipment sales, commercial jet engine and parts segment and corporate and other. Segment data is summarized as follows (in thousands): | [
{
"Currency / Unit": "airt:segment",
"End character": 20,
"End date for period": "2022-12-31",
"Label": "us-gaap:NumberOfOperatingSegments",
"Start character": 16,
"Start date for period": "2022-04-01",
"Value": 4
}
] |
10-Q | 0000353184-23-000014 | 20230210163054 | 20221231 | AIR T INC | Contrail entered into an Operating Agreement (the “Contrail Operating Agreement”) in connection with the acquisition of Contrail providing for the governance of and the terms of membership interests in Contrail and including put and call options with the Seller of Contrail (“Contrail Put/Call Option”). The Contrail Put/Call Option permits the Seller or the Company to require Contrail to purchase all of the Seller’s equity membership interests in Contrail commencing on the fifth anniversary of the acquisition, which occurred on July 18, 2021. The Company has presented this redeemable non-controlling interest in Contrail ("Contrail RNCI") between the liabilities and equity sections of the accompanying condensed consolidated balance sheets. In addition, the Company has elected to recognize changes in the redemption value immediately as they occur and adjust the carrying amount of the instrument to equal the redemption value at the end of each reporting period. The Contrail RNCI is a Level 3 fair value measurement that is valued at $7.7 million as of December 31, 2022. The change in the redemption value compared to March 31, 2022 is an increase of $0.5 million, which was driven by the increase in fair value of $0.3 million and net income attributable to non-controlling interest of $0.3 million, partially offset by distributions to non-controlling interest of $0.1 million. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 1048,
"End date for period": "2022-12-31",
"Label": "us-gaap:RedeemableNoncontrollingInterestEquityFairValue",
"Start character": 1045,
"Start date for period": "2022-12-31",
"Value": 7700000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 1166,
"End date for period": "2022-03-31",
"Label": "us-gaap:MinorityInterestChangeInRedemptionValue",
"Start character": 1163,
"Start date for period": "2021-04-01",
"Value": 500000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 1230,
"End date for period": "2022-12-31",
"Label": "airt:RedeemableNoncontrollingInterestEquityNetChangeInFairValue",
"Start character": 1227,
"Start date for period": "2022-04-01",
"Value": 300000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 1302,
"End date for period": "2022-12-31",
"Label": "airt:RedeemableNoncontrollingInterestEquityNetChangeInFairValue",
"Start character": 1299,
"Start date for period": "2022-04-01",
"Value": 300000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 1381,
"End date for period": "2022-12-31",
"Label": "us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders",
"Start character": 1378,
"Start date for period": "2022-04-01",
"Value": 100000
}
] |
10-Q | 0000353184-23-000014 | 20230210163054 | 20221231 | AIR T INC | On May 5, 2021, the Company formed an aircraft asset management business called Contrail Asset Management, LLC ("CAM"), and an aircraft capital joint venture called Contrail JV II LLC ("CJVII"). The venture focuses on acquiring commercial aircraft and jet engines for leasing, trading and disassembly. CJVII targets investments in current generation narrow-body aircraft and engines, building on Contrail’s origination and asset management expertise. The Company and Mill Road Capital (“MRC”) agreed to become common members in CAM. CAM serves two separate and distinct functions: 1) to direct the sourcing, acquisition and management of aircraft assets owned by CJVII, and 2) to directly invest into CJVII alongside other institutional investment partners. CAM has an initial commitment to CJVII of approximately $53.0 million, which is comprised of an $8.0 million initial commitment from the Company and an approximately $45.0 million initial commitment from MRC. As of December 31, 2022, CAM's remaining capital commitments are approximately $0.7 million from the Company and $16.0 million from MRC. In connection with the formation of CAM, MRC has a fixed price put option of $1.0 million to sell its common equity in CAM to the Company at each of the first 3 anniversary dates. At the later of (a) five years after execution of the agreement and (b) distributions to MRC per the waterfall equal to their capital contributions, the Company has a call option and MRC has a put option on the MRC common interests in CAM. If either party exercises the option, the exercise price will be fair market value if the Company pays in cash at closing or 112.5% of fair market value if the Company opts to pay in three equal annual installments after exercise. The Company recorded MRC's $1.0 million put option within "Other non-current liabilities" on our consolidated balance sheets. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 819,
"End date for period": "2021-05-05",
"Label": "us-gaap:OtherCommitment",
"Start character": 815,
"Start date for period": "2021-05-05",
"Value": 53000000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 858,
"End date for period": "2021-05-05",
"Label": "us-gaap:OtherCommitment",
"Start character": 855,
"Start date for period": "2021-05-05",
"Value": 8000000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 929,
"End date for period": "2021-05-05",
"Label": "us-gaap:OtherCommitment",
"Start character": 925,
"Start date for period": "2021-05-05",
"Value": 45000000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 1050,
"End date for period": "2022-12-31",
"Label": "us-gaap:OtherCommitment",
"Start character": 1047,
"Start date for period": "2022-12-31",
"Value": 700000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 1085,
"End date for period": "2022-12-31",
"Label": "us-gaap:OtherCommitment",
"Start character": 1081,
"Start date for period": "2022-12-31",
"Value": 16000000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 1185,
"End date for period": "2022-12-31",
"Label": "airt:FixedPricePutOptionAmount",
"Start character": 1182,
"Start date for period": "2022-04-01",
"Value": 1000000
},
{
"Currency / Unit": "xbrli:pure",
"End character": 1654,
"End date for period": "2022-12-31",
"Label": "airt:OtherCommitmentPremiumRateAboveFairMarketValue",
"Start character": 1649,
"Start date for period": "2022-04-01",
"Value": 1.125
},
{
"Currency / Unit": "iso4217:USD",
"End character": 1786,
"End date for period": "2022-12-31",
"Label": "airt:FixedPricePutOptionAmount",
"Start character": 1783,
"Start date for period": "2022-04-01",
"Value": 1000000
}
] |
10-Q | 0000353184-23-000014 | 20230210163054 | 20221231 | AIR T INC | In February 2022, in connection with the Company's acquisition of GdW, a consolidated subsidiary of Shanwick, the Company entered into a shareholder agreement with the 30.0% non-controlling interest owners of Shanwick, providing for the governance of and the terms of membership interests in Shanwick. The shareholder agreement includes the Shanwick Put/Call Option with regard to the 30.0% non-controlling interest. The non-controlling interest holders are the executive management of the underlying business. The Shanwick Put/Call Option grants the Company an option to purchase the 30.0% interest at the call option price that equals to the average EBIT over the 3 Financial Years prior to the exercise of the Call Option multiplied by 8. In addition, the Shanwick Put/Call Option also grants the non-controlling interest owners an option to require the Company to purchase from them their respective ownership interests at the Put Option price, that is equal to the average EBIT over the 3 Financial Years prior to the exercise of the Put Option multiplied by 7.5. The Call Option and the Put Option may be exercised at any time from the fifth anniversary of the shareholder agreement and then only at the end of each fiscal year of Air T ("Shanwick RNCI"). | [
{
"Currency / Unit": "xbrli:pure",
"End character": 172,
"End date for period": "2022-02-28",
"Label": "us-gaap:MinorityInterestOwnershipPercentageByNoncontrollingOwners",
"Start character": 168,
"Start date for period": "2022-02-28",
"Value": 0.30000000000000004
},
{
"Currency / Unit": "xbrli:pure",
"End character": 389,
"End date for period": "2022-02-28",
"Label": "us-gaap:MinorityInterestOwnershipPercentageByNoncontrollingOwners",
"Start character": 385,
"Start date for period": "2022-02-28",
"Value": 0.30000000000000004
},
{
"Currency / Unit": "xbrli:pure",
"End character": 589,
"End date for period": "2022-02-28",
"Label": "us-gaap:MinorityInterestOwnershipPercentageByNoncontrollingOwners",
"Start character": 585,
"Start date for period": "2022-02-28",
"Value": 0.30000000000000004
}
] |
10-Q | 0000353184-23-000014 | 20230210163054 | 20221231 | AIR T INC | On January 31, 2023, Air T entered into a new secured loan with MBT ("Term Note F"). The loan is in the principal amount of $1.0 million and bears a fluctuating annual rate of interest equal to the greater of (a) 6.00% or (b) the sum of (i) the Prime Rate plus (ii) 1.00%. The note obligates the Company to make monthly payments of principal in the amount of $17.0 thousand plus accrued interest commencing March 1, 2023. The loan matures on January 31, 2028. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 128,
"End date for period": "2023-01-31",
"Label": "us-gaap:DebtInstrumentFaceAmount",
"Start character": 125,
"Start date for period": "2023-01-31",
"Value": 1000000
},
{
"Currency / Unit": "xbrli:pure",
"End character": 217,
"End date for period": "2023-01-31",
"Label": "us-gaap:DebtInstrumentInterestRateStatedPercentage",
"Start character": 213,
"Start date for period": "2023-01-31",
"Value": 0.06
},
{
"Currency / Unit": "xbrli:pure",
"End character": 270,
"End date for period": "2023-01-31",
"Label": "us-gaap:DebtInstrumentBasisSpreadOnVariableRate1",
"Start character": 266,
"Start date for period": "2023-01-31",
"Value": 0.01
},
{
"Currency / Unit": "iso4217:USD",
"End character": 362,
"End date for period": "2023-01-31",
"Label": "us-gaap:DebtInstrumentPeriodicPayment",
"Start character": 360,
"Start date for period": "2023-01-31",
"Value": 17000
}
] |
10-Q | 0000353184-23-000014 | 20230210163054 | 20221231 | AIR T INC | In addition, the Company also entered into a promissory note agreement ("Seller's Note") with Worldwide Aviation LLC ("WASI") in the principal amount of $1.5 million. The note bears a fixed annual interest rate of 6.00% and matures on January 1, 2026. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 157,
"End date for period": "2023-01-31",
"Label": "us-gaap:DebtInstrumentFaceAmount",
"Start character": 154,
"Start date for period": "2023-01-31",
"Value": 1500000
},
{
"Currency / Unit": "xbrli:pure",
"End character": 218,
"End date for period": "2023-01-31",
"Label": "us-gaap:DebtInstrumentInterestRateStatedPercentage",
"Start character": 214,
"Start date for period": "2023-01-31",
"Value": 0.06
}
] |
10-Q | 0000353184-23-000014 | 20230210163054 | 20221231 | AIR T INC | The proceeds from Term Note F and Seller's Note, as well as additional cash of $0.6 million were used to acquire 100.0% interest in WASI, a Missouri-based company involved in the aircraft servicing business, on January 31, 2023. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 83,
"End date for period": "2023-01-31",
"Label": "us-gaap:PaymentsToAcquireBusinessesGross",
"Start character": 80,
"Start date for period": "2023-01-31",
"Value": 600000
},
{
"Currency / Unit": "xbrli:pure",
"End character": 118,
"End date for period": "2023-01-31",
"Label": "us-gaap:BusinessCombinationStepAcquisitionEquityInterestInAcquireePercentage",
"Start character": 113,
"Start date for period": "2023-01-31",
"Value": 1
}
] |
10-Q | 0001511737-23-000012 | 20230203070301 | 20221231 | Ubiquiti Inc. | As of February 2, 2023, 60,441,502 shares of Common Stock, par value $0.001, were issued and outstanding. | [
{
"Currency / Unit": "xbrli:shares",
"End character": 34,
"End date for period": "2023-02-02",
"Label": "dei:EntityCommonStockSharesOutstanding",
"Start character": 24,
"Start date for period": "2023-02-02",
"Value": 60441502
}
] |
10-Q | 0001511737-23-000012 | 20230203070301 | 20221231 | Ubiquiti Inc. | As of December 31, 2022 and June 30, 2022, the Company’s customer deposits were $0.9 million and $1.1 million, respectively. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 84,
"End date for period": "2022-12-31",
"Label": "ubnt:ContractWithCustomerLiabilityCustomerDepositsCurrent",
"Start character": 81,
"Start date for period": "2022-12-31",
"Value": 900000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 101,
"End date for period": "2022-06-30",
"Label": "ubnt:ContractWithCustomerLiabilityCustomerDepositsCurrent",
"Start character": 98,
"Start date for period": "2022-06-30",
"Value": 1100000
}
] |
10-Q | 0001511737-23-000012 | 20230203070301 | 20221231 | Ubiquiti Inc. | As of December 31, 2022, the Company’s deferred revenue, included in other current liabilities and other long-term liabilities, was $19.1 million and $6.2 million, respectively. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 137,
"End date for period": "2022-12-31",
"Label": "ubnt:ContractWithCustomerLiabilityDeferredRevenueCurrent",
"Start character": 133,
"Start date for period": "2022-12-31",
"Value": 19100000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 154,
"End date for period": "2022-12-31",
"Label": "ubnt:ContractWithCustomerLiabilityDeferredRevenueNoncurrent",
"Start character": 151,
"Start date for period": "2022-12-31",
"Value": 6200000
}
] |
10-Q | 0001511737-23-000012 | 20230203070301 | 20221231 | Ubiquiti Inc. | As of June 30, 2022, the Company’s deferred revenue, included in other current liabilities and other long-term liabilities, was $20.8 million and $5.8 million, respectively. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 133,
"End date for period": "2022-06-30",
"Label": "ubnt:ContractWithCustomerLiabilityDeferredRevenueCurrent",
"Start character": 129,
"Start date for period": "2022-06-30",
"Value": 20800000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 150,
"End date for period": "2022-06-30",
"Label": "ubnt:ContractWithCustomerLiabilityDeferredRevenueNoncurrent",
"Start character": 147,
"Start date for period": "2022-06-30",
"Value": 5800000
}
] |
10-Q | 0001511737-23-000012 | 20230203070301 | 20221231 | Ubiquiti Inc. | (2) Accumulated amortization was $5.1 million and $4.3 million as of December 31, 2022, and June 30, 2022, respectively. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 37,
"End date for period": "2022-12-31",
"Label": "us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization",
"Start character": 34,
"Start date for period": "2022-12-31",
"Value": 5100000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 54,
"End date for period": "2022-06-30",
"Label": "us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization",
"Start character": 51,
"Start date for period": "2022-06-30",
"Value": 4300000
}
] |
10-Q | 0001511737-23-000012 | 20230203070301 | 20221231 | Ubiquiti Inc. | On March 30, 2021, the Company, as borrower and certain domestic subsidiaries entered into an amended and restated credit agreement (the “Third Amended and Restated Credit Agreement”) with Wells Fargo Bank, National Association (“Wells Fargo”), the other financial institutions named as lenders therein, and Wells Fargo as administrative agent and collateral agent for the lenders, that extended the $700 million senior secured revolving credit facility (the “Revolving Facility”) and provided a new $500 million senior secured term loan facility (the “Term Facility”, together with the Revolving Facility, the “Facilities”), and extended the maturity of the Facilities to March 30, 2026. In addition, the Facilities include an option to request increases in the amounts of such credit facilities by up to an additional $500 million in the aggregate. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 404,
"End date for period": "2021-03-30",
"Label": "us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity",
"Start character": 401,
"Start date for period": "2021-03-30",
"Value": 700000000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 504,
"End date for period": "2021-03-30",
"Label": "us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity",
"Start character": 501,
"Start date for period": "2021-03-30",
"Value": 500000000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 824,
"End date for period": "2021-03-30",
"Label": "us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity",
"Start character": 821,
"Start date for period": "2021-03-30",
"Value": 500000000
}
] |
10-Q | 0001511737-23-000012 | 20230203070301 | 20221231 | Ubiquiti Inc. | The Company has $1.9 million of debt issuance costs which are capitalized and are being amortized as interest expense over the remaining life of the facilities. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 20,
"End date for period": "2021-03-30",
"Label": "us-gaap:DeferredFinanceCostsGross",
"Start character": 17,
"Start date for period": "2021-03-30",
"Value": 1900000
}
] |
10-Q | 0001511737-23-000012 | 20230203070301 | 20221231 | Ubiquiti Inc. | The Revolving Facility includes a sub-limit of $25.0 million for letters of credit and a sub-limit of $25.0 million for swingline loans. The Facilities are available for working capital and general corporate purposes that comply with the terms of the Third Amended and Restated Credit Agreement, including to finance the repurchase of the Company’s common stock or to make dividends to the holders of the Company’s common stock. Under the Third Amended and Restated Credit Agreement, revolving loans and swingline loans may be borrowed, repaid and reborrowed until March 30, 2026, at which time all amounts borrowed must be repaid. The Term Facility is payable in quarterly installments of 1.25% of the original principal amount of the Term Facility, commencing with the quarter ending June 30, 2021. The Facilities may be prepaid at any time without penalty. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 52,
"End date for period": "2021-03-30",
"Label": "us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity",
"Start character": 48,
"Start date for period": "2021-03-30",
"Value": 25000000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 107,
"End date for period": "2021-03-30",
"Label": "us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity",
"Start character": 103,
"Start date for period": "2021-03-30",
"Value": 25000000
},
{
"Currency / Unit": "xbrli:pure",
"End character": 694,
"End date for period": "2021-03-30",
"Label": "ubnt:LineofCreditFacilityPeriodicPaymentPrincipalPercentage",
"Start character": 690,
"Start date for period": "2021-03-30",
"Value": 0.0125
}
] |
10-Q | 0001511737-23-000012 | 20230203070301 | 20221231 | Ubiquiti Inc. | Revolving and Term facilities bear interest, at the Company’s option, at either (i) a floating rate per annum equal to the base rate plus a margin of between 0.50% and 1.25%, depending on the Company’s consolidated total leverage ratio as of the most recently ended fiscal quarter or (ii) a floating per annum rate equal to the applicable LIBOR rate (or replacement rate) for a specified period, plus a margin of between 1.50% and 2.25%, depending on the Company’s consolidated total leverage ratio as of the most recently ended | [
{
"Currency / Unit": "xbrli:pure",
"End character": 162,
"End date for period": "2021-03-30",
"Label": "us-gaap:DebtInstrumentBasisSpreadOnVariableRate1",
"Start character": 158,
"Start date for period": "2021-03-30",
"Value": 0.005
},
{
"Currency / Unit": "xbrli:pure",
"End character": 172,
"End date for period": "2021-03-30",
"Label": "us-gaap:DebtInstrumentBasisSpreadOnVariableRate1",
"Start character": 168,
"Start date for period": "2021-03-30",
"Value": 0.0125
},
{
"Currency / Unit": "xbrli:pure",
"End character": 425,
"End date for period": "2021-03-30",
"Label": "us-gaap:DebtInstrumentBasisSpreadOnVariableRate1",
"Start character": 421,
"Start date for period": "2021-03-30",
"Value": 0.015
},
{
"Currency / Unit": "xbrli:pure",
"End character": 435,
"End date for period": "2021-03-30",
"Label": "us-gaap:DebtInstrumentBasisSpreadOnVariableRate1",
"Start character": 431,
"Start date for period": "2021-03-30",
"Value": 0.022500000000000003
}
] |
10-Q | 0001511737-23-000012 | 20230203070301 | 20221231 | Ubiquiti Inc. | fiscal quarter. Swingline loans bear interest at a floating rate per annum equal to the base rate plus a margin of between 0.50% and 1.25%, depending on the Company’s consolidated total leverage ratio as of the most recently ended fiscal quarter. Base rate is defined as the greatest of (A) Wells Fargo’s prime rate, (B) the federal funds rate plus 0.50% or (C) the applicable LIBOR rate (or replacement rate) for a period of one month plus 1.00%. A default interest rate shall apply on all obligations during certain events of default under the Third Amended and Restated Credit Agreement at a rate per annum equal to 2.00% above the applicable interest rate. The Company will pay to each lender a facility fee on a quarterly basis based on the unused amount of each lender’s commitment to make revolving loans, of between 0.20% and 0.35%, depending on the Company’s consolidated total leverage ratio as of the most recently ended fiscal quarter. The Company will also pay to the applicable lenders on a quarterly basis certain fees based on the daily amount available to be drawn under each outstanding letter of credit, including aggregate letter of credit commissions of between 1.50% and 2.25%, depending on the Company’s consolidated total leverage ratio as of the most recently ended fiscal quarter, and issuance fees of 0.125% per annum. The Company is also obligated to pay Wells Fargo, as agent, fees customary for a credit facility of this size and type. | [
{
"Currency / Unit": "xbrli:pure",
"End character": 127,
"End date for period": "2021-03-30",
"Label": "us-gaap:DebtInstrumentBasisSpreadOnVariableRate1",
"Start character": 123,
"Start date for period": "2021-03-30",
"Value": 0.005
},
{
"Currency / Unit": "xbrli:pure",
"End character": 137,
"End date for period": "2021-03-30",
"Label": "us-gaap:DebtInstrumentBasisSpreadOnVariableRate1",
"Start character": 133,
"Start date for period": "2021-03-30",
"Value": 0.0125
},
{
"Currency / Unit": "xbrli:pure",
"End character": 353,
"End date for period": "2021-03-30",
"Label": "us-gaap:DebtInstrumentBasisSpreadOnVariableRate1",
"Start character": 349,
"Start date for period": "2021-03-30",
"Value": 0.005
},
{
"Currency / Unit": "xbrli:pure",
"End character": 445,
"End date for period": "2021-03-30",
"Label": "us-gaap:DebtInstrumentBasisSpreadOnVariableRate1",
"Start character": 441,
"Start date for period": "2021-03-30",
"Value": 0.01
},
{
"Currency / Unit": "xbrli:pure",
"End character": 623,
"End date for period": "2021-03-30",
"Label": "ubnt:DebtInstrumentDebtDefaultBasisSpreadOverApplicableInterestRate",
"Start character": 619,
"Start date for period": "2021-03-30",
"Value": 0.02
},
{
"Currency / Unit": "xbrli:pure",
"End character": 828,
"End date for period": "2021-03-30",
"Label": "us-gaap:LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage",
"Start character": 824,
"Start date for period": "2021-03-30",
"Value": 0.002
},
{
"Currency / Unit": "xbrli:pure",
"End character": 838,
"End date for period": "2021-03-30",
"Label": "us-gaap:LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage",
"Start character": 834,
"Start date for period": "2021-03-30",
"Value": 0.0035
},
{
"Currency / Unit": "xbrli:pure",
"End character": 1187,
"End date for period": "2021-03-30",
"Label": "us-gaap:LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage",
"Start character": 1183,
"Start date for period": "2021-03-30",
"Value": 0.015
},
{
"Currency / Unit": "xbrli:pure",
"End character": 1197,
"End date for period": "2021-03-30",
"Label": "us-gaap:LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage",
"Start character": 1193,
"Start date for period": "2021-03-30",
"Value": 0.022500000000000003
},
{
"Currency / Unit": "xbrli:pure",
"End character": 1333,
"End date for period": "2021-03-30",
"Label": "ubnt:LineofCreditFacilityDebtIssuanceCostsPercentageAnnually",
"Start character": 1328,
"Start date for period": "2021-03-30",
"Value": 0.00125
}
] |
10-Q | 0001511737-23-000012 | 20230203070301 | 20221231 | Ubiquiti Inc. | The Third Amended and Restated Credit Agreement requires the Company to maintain during the term of the Facilities a maximum consolidated total leverage ratio of 3.50 to 1.00 and a minimum consolidated interest coverage ratio of 3.50 to 1.00. In addition, the Third Amended and Restated Credit Agreement contains customary affirmative and negative covenants, including covenants that limit or restrict the ability of the Company and its subsidiaries to, among other things, grant liens or enter into agreements restricting their ability to grant liens on property, enter into mergers, dispose of assets, change their accounting or reporting policies, change their business and incur indebtedness, in each case subject to customary exceptions for a credit facility of this size and type. The Third Amended and Restated Credit Agreement includes customary events of default that include, among other things, non-payment of principal, interest or fees, inaccuracy of representations and warranties, violation of covenants, cross default to certain other indebtedness, bankruptcy and insolvency events, material judgments, change of control and certain ERISA events. The occurrence of an event of default could result in the acceleration of the obligations under the Third Amended and Restated Credit Agreement. | [
{
"Currency / Unit": "xbrli:pure",
"End character": 166,
"End date for period": "2021-03-30",
"Label": "us-gaap:RatioOfIndebtednessToNetCapital1",
"Start character": 162,
"Start date for period": "2021-03-30",
"Value": 3.5
},
{
"Currency / Unit": "xbrli:pure",
"End character": 233,
"End date for period": "2021-03-30",
"Label": "us-gaap:RatioOfIndebtednessToNetCapital1",
"Start character": 229,
"Start date for period": "2021-03-30",
"Value": 3.5
}
] |
10-Q | 0001511737-23-000012 | 20230203070301 | 20221231 | Ubiquiti Inc. | As of December 31, 2022, $456.3 million was outstanding on the Term Facility and $440 million outstanding on the Revolving Facility, leaving $260 million available on the Revolving Facility. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 31,
"End date for period": "2022-12-31",
"Label": "us-gaap:LineOfCredit",
"Start character": 26,
"Start date for period": "2022-12-31",
"Value": 456300000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 85,
"End date for period": "2022-12-31",
"Label": "us-gaap:LongTermDebtNoncurrent",
"Start character": 82,
"Start date for period": "2022-12-31",
"Value": 440000000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 145,
"End date for period": "2022-12-31",
"Label": "us-gaap:LineOfCreditFacilityRemainingBorrowingCapacity",
"Start character": 142,
"Start date for period": "2022-12-31",
"Value": 260000000
}
] |
10-Q | 0001511737-23-000012 | 20230203070301 | 20221231 | Ubiquiti Inc. | During the six months ended December 31, 2022, the Company made aggregate payments of $23.3 million under the Term Facility, of which $12.5 million was repayment of principal and $10.8 million was payment of interest. | [
{
"Currency / Unit": "iso4217:USD",
"End character": 91,
"End date for period": "2022-12-31",
"Label": "us-gaap:RepaymentsOfLongTermLinesOfCredit",
"Start character": 87,
"Start date for period": "2022-07-01",
"Value": 23300000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 139,
"End date for period": "2022-12-31",
"Label": "ubnt:RepaymentofLongTermLinesofCreditPrincipal",
"Start character": 135,
"Start date for period": "2022-07-01",
"Value": 12500000
},
{
"Currency / Unit": "iso4217:USD",
"End character": 184,
"End date for period": "2022-12-31",
"Label": "ubnt:RepaymentofLongTermLinesofCreditInterest",
"Start character": 180,
"Start date for period": "2022-07-01",
"Value": 10800000
}
] |
Subsets and Splits