Income Taxes |
3 Months Ended |
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Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes During the three-month period ended June 30, 2026, the Company recorded $0.7 million in income tax expense at an effective tax rate ("ETR") of (4.4)%. The Company has computed the provision for income taxes using the discrete method. 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 June 30, 2026 is the effect of the pre-tax loss and the U.S. consolidated group being in an estimated taxable income position, principally due to limitations of interest expense, notwithstanding the full valuation allowance on the Company’s U.S. consolidated group, as well as the valuation allowance related to Delphax Technologies, Inc. (“DTI”), Delphax Solutions, Inc. ("DSI"), and Rex and its subsidiaries, and the foreign rate differentials for Air T’s operations located in Australia, the Netherlands, Ireland and Puerto Rico. During the three-month period ended June 30, 2025, the Company recorded an income tax benefit of $0.1 million at an ETR of 16.9%. The Company has computed the provision for income taxes based on the estimated annual ETR excluding loss jurisdictions with no tax benefit and the application of discrete items, if any, for interim reporting. The primary factors contributing to the difference between the federal statutory rate of 21.0% and the Company's ETR for the three-month period ended June 30, 2025 were the valuation allowance related to the Company's U.S. consolidated group, DTI, Landing Gear Support Services PTE LTD ("LGSS"), DSI, and BCCM Advisors (Kenya) Limited (“BCCM Kenya”), and the foreign rate differentials for Air T’s operations located in the Netherlands and Puerto Rico.
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