Business Segment Information

12 Months Ended

Jul. 31, 2019

Segment Reporting [Abstract]

Business Segment Information

Note 24—Business Segment Information

The Company has two reportable business segments, Telecom & Payment Services and net2phone. The Company's reportable segments are distinguished by types of service, customers and methods used to provide their services. The operating results of these business segments are regularly reviewed by the Company's chief operating decision maker. The accounting policies of the segments are the same as the accounting policies of the Company as a whole. The Company evaluates the performance of its business segments based primarily on income (loss) from operations.

Effective at the beginning of fiscal 2019, the Company modified the way it reports its business verticals within its Telecom & Payment Services and net2phone segments to align more closely with its business strategy and operational structure. The modification to the business verticals did not change the reportable business segments.

The Telecom & Payment Services segment provides retail telecommunications and payment offerings as well as wholesale international long-distance traffic termination. The net2phone segment provides unified cloud communications and telephony services to business customers. Depreciation and amortization are allocated to Telecom & Payment Services and net2phone because the related assets are not tracked separately by segment. There are no other significant asymmetrical allocations to segments.

Operating segments that are not reportable individually are included in All Other, which included the Company's real estate holdings and other investments that were included in the Rafael Spin-Off.

Corporate costs include compensation, consulting fees, treasury and accounts payable, tax and accounting services, human resources and payroll, corporate purchasing, corporate governance including Board of Directors' fees, internal and external audit, investor relations, corporate insurance, corporate legal, business development, charitable contributions, travel and other corporate-related general and administrative expenses. Corporate does not generate any revenues, nor does it incur any direct cost of revenues.

Operating results for the business segments of the Company were as follows:

(in thousands)	Telecom & Payment Services			net2phone			All Other			Corporate			Total
Year ended July 31, 2019
Revenues	$	1,361,908		$	47,264		$	—		$	—		$	1,409,172
Income (loss) from operations		14,330			(6,479	)		—			(8,856	)		(1,005	)
Depreciation and amortization		16,084			6,544			—			4			22,632
Severance		1,438			—			—			—			1,438
Other operating (expense) gains, net		(7,785	)		(267	)		—			326			(7,726	)
Year ended July 31, 2018
Revenues	$	1,511,473		$	34,857		$	1,165		$	—		$	1,547,495
Income (loss) from operations		25,821			(2,677	)		(2,600	)		(12,166	)		8,378
Depreciation and amortization		16,312			5,271			1,214			4			22,801
Severance		4,534			—			—			96			4,630
Other operating expense		—			(115	)		—			(2,283	)		(2,398	)
Year ended July 31, 2017
Revenues	$	1,469,987		$	29,450		$	2,292		$	—		$	1,501,729
Income (loss) from operations		25,513			(1,865	)		142			(18,241	)		5,549
Depreciation and amortization		16,134			3,875			1,683			12			21,704
Other operating expense, net		(63	)		—			—			(10,412	)		(10,475	)

Total assets for the reportable segments are not provided because a significant portion of the Company's assets are servicing multiple segments and the Company does not track such assets separately by segment.

Geographic Information

Net long-lived assets and total assets held outside of the United States, which are located primarily in Western Europe, were as follows:

(in thousands)	United States		Foreign Countries		Total
July 31, 2019
Long-lived assets, net	$	25,797	$	8,558	$	34,355
Total assets		103,113		340,590		443,703
July 31, 2018
Long-lived assets, net	$	31,400	$	4,680	$	36,080
Total assets		82,400		317,197		399,597
July 31, 2017
Long-lived assets, net	$	82,706	$	6,312	$	89,018
Total assets		203,548		315,415		518,963