Basis of Presentation	6 Months Ended
Jan. 31, 2016
Basis of Presentation [Abstract]
Basis of Presentation	Note 1—Basis of Presentation The accompanying unaudited consolidated financial statements of IDT Corporation and its subsidiaries (the “Company” or “IDT”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and six months ended January 31, 2016 are not necessarily indicative of the results that may be expected for the fiscal year ending July 31, 2016. The balance sheet at July 31, 2015 has been derived from the Company’s audited financial statements at that date but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. For further information, please refer to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended July 31, 2015, as filed with the U.S. Securities and Exchange Commission (“SEC”). The Company’s fiscal year ends on July 31 of each calendar year. Each reference below to a fiscal year refers to the fiscal year ending in the calendar year indicated (e.g., fiscal 2016 refers to the fiscal year ending July 31, 2016). In August 2015, the Company’s Board of Directors approved a plan to reorganize the Company into three separate entities by spinning off two business units to its stockholders. The three separate companies are expected to consist of (1) IDT Telecom, (2) Zedge, Inc. (formerly known as Zedge Holdings, Inc.) (“Zedge”) and (3) other holdings. The reorganization and the specific components are subject to change and both internal and third party contingencies, and must receive final approval from the Company’s Board of Directors and certain third parties. The Company is targeting completion of the Zedge spin-off before the end of fiscal 2016 and the remainder of the reorganization in the second half of calendar year 2016. On March 8, 2016, Zedge filed a Form 10 Registration Statement with the SEC related to the planned spin-off of the Company’s majority interest in Zedge to the Company’s stockholders. The Zedge spin-off is intended to be tax-free to the Company’s stockholders, and the Company expects to receive a legal opinion as to the spin-off’s tax-free status. In connection with the spin-off, it is expected that each of the Company’s stockholder will receive one share of Zedge Class A common stock for every three shares of the Company’s Class A common stock and one share of Zedge Class B common stock for every three shares of the Company’s Class B common stock. Upon completion of the spin-off, the Company’s expects that its stockholders as of the record date will hold approximately 83% of Zedge.

Note 1—Basis of Presentation

The accompanying unaudited consolidated financial statements of IDT Corporation and its subsidiaries (the “Company” or “IDT”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and six months ended January 31, 2016 are not necessarily indicative of the results that may be expected for the fiscal year ending July 31, 2016. The balance sheet at July 31, 2015 has been derived from the Company’s audited financial statements at that date but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. For further information, please refer to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended July 31, 2015, as filed with the U.S. Securities and Exchange Commission (“SEC”).

The Company’s fiscal year ends on July 31 of each calendar year. Each reference below to a fiscal year refers to the fiscal year ending in the calendar year indicated (e.g., fiscal 2016 refers to the fiscal year ending July 31, 2016).

In August 2015, the Company’s Board of Directors approved a plan to reorganize the Company into three separate entities by spinning off two business units to its stockholders. The three separate companies are expected to consist of (1) IDT Telecom, (2) Zedge, Inc. (formerly known as Zedge Holdings, Inc.) (“Zedge”) and (3) other holdings. The reorganization and the specific components are subject to change and both internal and third party contingencies, and must receive final approval from the Company’s Board of Directors and certain third parties. The Company is targeting completion of the Zedge spin-off before the end of fiscal 2016 and the remainder of the reorganization in the second half of calendar year 2016.

On March 8, 2016, Zedge filed a Form 10 Registration Statement with the SEC related to the planned spin-off of the Company’s majority interest in Zedge to the Company’s stockholders. The Zedge spin-off is intended to be tax-free to the Company’s stockholders, and the Company expects to receive a legal opinion as to the spin-off’s tax-free status. In connection with the spin-off, it is expected that each of the Company’s stockholder will receive one share of Zedge Class A common stock for every three shares of the Company’s Class A common stock and one share of Zedge Class B common stock for every three shares of the Company’s Class B common stock. Upon completion of the spin-off, the Company’s expects that its stockholders as of the record date will hold approximately 83% of Zedge.