0001213900-19-025764.txt : 20191210 0001213900-19-025764.hdr.sgml : 20191210 20191210165720 ACCESSION NUMBER: 0001213900-19-025764 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 86 CONFORMED PERIOD OF REPORT: 20191031 FILED AS OF DATE: 20191210 DATE AS OF CHANGE: 20191210 FILER: COMPANY DATA: COMPANY CONFORMED NAME: IDT CORP CENTRAL INDEX KEY: 0001005731 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813] IRS NUMBER: 223415036 STATE OF INCORPORATION: DE FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-16371 FILM NUMBER: 191278221 BUSINESS ADDRESS: STREET 1: 520 BROAD ST CITY: NEWARK STATE: NJ ZIP: 07102 BUSINESS PHONE: 973 438 1000 MAIL ADDRESS: STREET 1: 520 BROAD STREET CITY: NEWARK STATE: NJ ZIP: 07102 10-Q 1 f10q1019_idtcorporation.htm QUARTERLY REPORT

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE QUARTERLY PERIOD ENDED OCTOBER 31, 2019

☐

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission File Number: 1-16371

IDT CORPORATION

(Exact Name of Registrant as Specified in its Charter)

Delaware		22-3415036
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification Number)

520 Broad Street, Newark, New Jersey		07102
(Address of principal executive offices)		(Zip Code)

(973) 438-1000

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Name of each exchange on which registered
Class B common stock, par value $.01 per share		New York Stock Exchange

Trading symbol: IDT

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	☐	Accelerated filer	☒
Non-accelerated filer	☐	Smaller reporting company	☒
Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act.): Yes ☐ No ☒

As of December 6, 2019, the registrant had the following shares outstanding:

Class A common stock, $.01 par value:	1,574,326 shares outstanding (excluding 1,698,000 treasury shares)
Class B common stock, $.01 par value:	24,927,890 shares outstanding (excluding 907,659 treasury shares)

IDT CORPORATION

TABLE OF CONTENTS

PART I. FINANCIAL INFORMATION		1

Item 1.	Financial Statements (Unaudited)	1

	Consolidated Balance Sheets	1

	Consolidated Statements of Operations	2

	Consolidated Statements of Comprehensive Loss	3

	Consolidated Statements of Equity	4

	Consolidated Statements of Cash Flows	5

	Notes to Consolidated Financial Statements	6

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	19

Item 3.	Quantitative and Qualitative Disclosures About Market Risks	26

Item 4.	Controls and Procedures	27

PART II. OTHER INFORMATION		28

Item 1.	Legal Proceedings	28

Item 1A.	Risk Factors	28

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	28

Item 3.	Defaults Upon Senior Securities	28

Item 4.	Mine Safety Disclosures	28

Item 5.	Other Information	28

Item 6.	Exhibits	29

SIGNATURES		30

PART I. FINANCIAL INFORMATION

Item 1.

Financial Statements (Unaudited)

IDT CORPORATION

CONSOLIDATED BALANCE SHEETS

	October 31, 2019			July 31, 2019
	(Unaudited)			(Note 1)
	(in thousands)
Assets
Current assets:
Cash and cash equivalents	$	62,183		$	80,168
Restricted cash and cash equivalents		190,218			177,031
Debt securities		9,894			2,534
Equity investments		5,710			5,688
Trade accounts receivable, net of allowance for doubtful accounts of $5,675 at October 31, 2019 and $5,444 at July 31, 2019		50,963			58,060
Prepaid expenses		27,809			20,276
Other current assets		26,964			24,704
Total current assets		373,741			368,461
Property, plant and equipment, net		32,874			34,355
Goodwill		11,214			11,209
Other intangibles, net		4,110			4,196
Equity investments		9,337			9,319
Operating lease right-of-use assets		11,597			—
Deferred income tax assets, net		4,110			4,589
Other assets		12,054			11,574
Total assets	$	459,037		$	443,703

Liabilities and equity
Current liabilities:
Trade accounts payable	$	37,159		$	37,077
Accrued expenses		121,058			127,834
Deferred revenue		40,739			42,479
Customer deposits		188,258			175,028
Other current liabilities		9,180			6,652
Total current liabilities		396,394			389,070
Operating lease liabilities		9,335			—
Other liabilities		977			1,076
Total liabilities		406,706			390,146
Commitments and contingencies
Equity:
IDT Corporation stockholders’ equity:
Preferred stock, $.01 par value; authorized shares—10,000; no shares issued		—			—
Class A common stock, $.01 par value; authorized shares—35,000; 3,272 shares issued and 1,574 shares outstanding at October 31, 2019 and July 31, 2019		33			33
Class B common stock, $.01 par value; authorized shares—200,000; 25,836 and 25,803 shares issued and 24,928 and 24,895 shares outstanding at October 31, 2019 and July 31, 2019, respectively		258			258
Additional paid-in capital		274,953			273,313
Treasury stock, at cost, consisting of 1,698 shares of Class A common stock and 908 shares of Class B common stock at October 31, 2019 and July 31, 2019		(51,739	)		(51,739	)
Accumulated other comprehensive loss		(6,062	)		(4,858	)
Accumulated deficit		(162,276	)		(160,763	)
Total IDT Corporation stockholders’ equity		55,167			56,244
Noncontrolling interests		(2,836	)		(2,687	)
Total equity		52,331			53,557
Total liabilities and equity	$	459,037		$	443,703

See accompanying notes to consolidated financial statements.

IDT CORPORATION

CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)

	Three Months Ended October 31,
	2019			2018
	(in thousands, except per share data)
Revenues	$	340,245		$	362,316
Costs and expenses:
Direct cost of revenues (exclusive of depreciation and amortization)		279,461			304,693
Selling, general and administrative (i)		53,480			50,552
Depreciation and amortization		5,295			5,594
Severance		626			—
Total costs and expenses		338,862			360,839
Other operating expense, net (see Note 9)		(2,775	)		(1,295	)
(Loss) income from operations		(1,392	)		182
Interest income, net		272			108
Other income (expense), net		234			(1,349	)
Loss before income taxes		(886	)		(1,059	)
Provision for income taxes		(536	)		(939	)
Net loss		(1,422	)		(1,998	)
Net income attributable to noncontrolling interests		(91	)		(301	)
Net loss attributable to IDT Corporation	$	(1,513	)	$	(2,299	)

Basic and diluted loss per share attributable to IDT Corporation common stockholders	$	(0.06	)	$	(0.10	)

Weighted-average number of shares used in calculation of basic and diluted loss per share		26,279			23,831

(i) Stock-based compensation included in selling, general and administrative expenses	$	1,364		$	413

See accompanying notes to consolidated financial statements.

IDT CORPORATION

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

(Unaudited)

	Three Months Ended October 31,
	2019			2018
	(in thousands)
Net loss	$	(1,422	)	$	(1,998	)
Other comprehensive (loss) income:
Change in unrealized gain on available-for-sale securities		—			(2	)
Foreign currency translation adjustments		(1,204	)		524
Other comprehensive (loss) income		(1,204	)		522
Comprehensive loss		(2,626	)		(1,476	)
Comprehensive income attributable to noncontrolling interests		(91	)		(301	)
Comprehensive loss attributable to IDT Corporation	$	(2,717	)	$	(1,777	)

See accompanying notes to consolidated financial statements.

IDT CORPORATION

CONSOLIDATED STATEMENTS OF EQUITY

(Unaudited)

	Three Months Ended October 31, 2019 (in thousands)
	IDT Corporation Stockholders
	Class A Common Stock		Class B Common Stock		Additional Paid-In Capital		Treasury Stock			Accumulated Other Comprehensive Loss			Accumulated Deficit			Noncontrolling Interests			Total Equity
BALANCE AT JULY 31, 2019	$	33	$	258	$	273,313	$	(51,739	)	$	(4,858	)	$	(160,763	)	$	(2,687	)	$	53,557
Exercise of stock options		—		—		276		—			—			—			—			276
Stock-based compensation		—		—		1,364		—			—			—			—			1,364
Distributions to noncontrolling interests		—		—		—		—			—			—			(240	)		(240	)
Other comprehensive loss		—		—		—		—			(1,204	)		—			—			(1,204	)
Net loss		—		—		—		—			—			(1,513	)		91			(1,422	)
BALANCE AT OCTOBER 31, 2019	$	33	$	258	$	274,953	$	(51,739	)	$	(6,062	)	$	(162,276	)	$	(2,836	)	$	52,331

	Three Months Ended October 31, 2018 (in thousands)
	IDT Corporation Stockholders
	Class A Common Stock		Class B Common Stock		Additional Paid-In Capital		Treasury Stock			Accumulated Other Comprehensive Loss			Accumulated Deficit			Noncontrolling Interests			Total Equity
BALANCE AT JULY 31, 2018	$	33	$	256	$	294,047	$	(85,597	)	$	(4,972	)	$	(173,103	)	$	639		$	31,303
Adjustment from the adoption of change in revenue recognition		—		—		—		—			—			9,064			—			9,064
Adjustment from the adoption of change in accounting for equity investments		—		—		—		—			33			1,140			—			1,173
ADJUSTED BALANCE AT AUGUST 1, 2018		33		256		294,047		(85,597	)		(4,939	)		(162,899	)		639			41,540
Repurchases of Class B common stock through repurchase program		—		—		—		(3,854	)		—			—			—			(3,854	)
Stock-based compensation		—		—		413		—			—			—			—			413
Distributions to noncontrolling interests		—		—		—		—			—			—			(339	)		(339	)
Other comprehensive income		—		—		—		—			522			—			—			522
Net loss		—		—		—		—			—			(2,299	)		301			(1,998	)
BALANCE AT OCTOBER 31, 2018	$	33	$	256	$	294,460	$	(89,451	)	$	(4,417	)	$	(165,198	)	$	601		$	36,284

See accompanying notes to consolidated financial statements.

IDT CORPORATION

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

	Three Months Ended October 31,
	2019			2018
	(in thousands)
Operating activities
Net loss	$	(1,422	)	$	(1,998	)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization		5,295			5,594
Deferred income taxes		479			1,117
Provision for doubtful accounts receivable		549			447
Stock-based compensation		1,364			413
Other		(34	)		46
Change in assets and liabilities:
Trade accounts receivable		7,975			97
Prepaid expenses, other current assets and other assets		(9,166	)		(8,766	)
Trade accounts payable, accrued expenses, other current liabilities and other liabilities		(10,012	)		6,919
Customer deposits at IDT Financial Services Limited, our Gibraltar-based bank		1,793			5,567
Deferred revenue		(1,798	)		(1,206	)
Net cash (used in) provided by operating activities		(4,977	)		8,230
Investing activities
Capital expenditures		(3,851	)		(4,463	)
Payment for acquisition, net of cash acquired		—			(5,453	)
Purchases of debt securities and equity investments		(8,195	)		—
Proceeds from maturities and sales of debt securities and sales of equity investments		782			3,372
Net cash used in investing activities		(11,264	)		(6,544	)
Financing activities
Distributions to noncontrolling interests		(240	)		(339	)
Repayment of other liabilities		(19	)		(599	)
Proceeds from exercise of stock options		276			—
Repurchases of Class B common stock		—			(3,854	)
Net cash provided by (used in) financing activities		17			(4,792	)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash and cash equivalents		11,426			(4,590	)
Net decrease in cash, cash equivalents, and restricted cash and cash equivalents		(4,798	)		(7,696	)
Cash, cash equivalents, and restricted cash and cash equivalents at beginning of period		257,199			203,197
Cash, cash equivalents, and restricted cash and cash equivalents at end of period	$	252,401		$	195,501

See accompanying notes to consolidated financial statements.

IDT CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

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 notes 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 months ended October 31, 2019 are not necessarily indicative of the results that may be expected for the fiscal year ending July 31, 2020. The balance sheet at July 31, 2019 has been derived from the Company’s audited financial statements at that date but does not include all of the information and notes 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 fiscal year ended July 31, 2019, 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 2020 refers to the fiscal year ending July 31, 2020).

Note 2—Revenue Recognition

The Company earns revenue from contracts with customers, primarily through the provision of retail telecommunications and payment offerings as well as wholesale international long-distance traffic termination. The Company has two reportable business segments, Telecom & Payment Services and net2phone. The Telecom & Payment Services segment is comprised of Core and Growth verticals. Core includes BOSS Revolution Calling, an international long-distance calling service marketed primarily to immigrant communities in the United States, Carrier Services, which provides international long-distance termination and outsourced traffic management solutions to telecoms worldwide, and Mobile Top-Up, which enables customers to transfer airtime and bundles of airtime, messaging and data credits to mobile accounts internationally and domestically. Core also includes smaller communications and payment offerings, many in harvest mode. Growth includes National Retail Solutions, which operates a point-of-sale terminal-based network for retailers, BOSS Revolution Money Transfer, an international money remittance service for customers in the United States, and BOSS Revolution Mobile, a mobile virtual network operator in the United States. The net2phone segment is comprised of net2phone-Unified Communications as a Service (“UCaaS”), a unified cloud-based communications service for businesses in North and South America and certain other international markets, and net2phone-Platform Services, which provides telephony services to cable operators and other businesses by leveraging a common technology platform.

The Company’s core operations are mostly minute-based, paid-voice communications services, and revenue is primarily recognized at a point in time. The Company’s Telecom & Payment Services’ growth initiatives and net2phone-UCaaS are technology-driven, synergistic businesses that leverage the Company’s core assets, and revenue, in some cases, is recognized over time. The Company’s most significant revenue streams are from BOSS Revolution Calling, Mobile Top-Up, and Carrier Services. BOSS Revolution Calling and Mobile Top-Up are sold direct-to-consumers and through distributors and retailers.

Disaggregated Revenues

The following table shows the Company’s revenues disaggregated by business segment and service offered to customers:

	Three Months Ended October 31,
	2019		2018
	(in thousands)
Core Operations:
BOSS Revolution Calling	$	116,242	$	123,513
Carrier Services		113,517		142,222
Mobile Top-Up		76,815		65,346
Other		11,244		14,757
Growth		9,800		6,011
Total Telecom & Payment Services		327,618		351,849
net2phone-UCaaS		7,221		4,805
net2phone-Platform Services		5,406		5,662
Total net2phone		12,627		10,467
Total	$	340,245	$	362,316

The following table shows the Company’s revenues disaggregated by geographic region, which is determined based on selling location:

(in thousands)	Telecom & Payment Services		net2phone		Total
Three Months Ended October 31, 2019
United States	$	218,655	$	8,532	$	227,187
Outside the United States:
United Kingdom		35,793		4		35,797
Netherlands		54,942		—		54,942
Other		18,228		4,091		22,319
Total outside the United States		108,963		4,095		113,058
Total	$	327,618	$	12,627	$	340,245

(in thousands)	Telecom & Payment Services		net2phone		Total
Three Months Ended October 31, 2018
United States	$	231,624	$	7,930	$	239,554
Outside the United States:
United Kingdom		50,472		8		50,480
Netherlands		50,922		—		50,922
Other		18,831		2,529		21,360
Total outside the United States		120,225		2,537		122,762
Total	$	351,849	$	10,467	$	362,316

Remaining Performance Obligations

The Company’s revenue is generally recognized in the same period that its performance obligations are satisfied. The Company does not have any significant revenue from performance obligations satisfied or partially satisfied in previous reporting periods, or any significant portion of transaction price to be allocated to performance obligations that are unsatisfied (or partially unsatisfied) at the end of a reporting period.

Accounts Receivable and Contract Balances

The timing of revenue recognition may differ from the time of billing to the Company’s customers. Trade accounts receivable in the Company’s consolidated balance sheets represent unconditional rights to consideration. An entity records a contract asset when revenue is recognized in advance of the entity’s right to bill and receive consideration. The Company has not identified any contract assets.

Contract liabilities arise when the Company receives consideration or bills its customers prior to providing the goods or services promised in the contract. The primary component of the Company’s contract liability balance is the payments received for its prepaid BOSS Revolution Calling, traditional calling cards, and Mobile Top-Up services. Contract liabilities are recognized as revenue when services are provided to the customer. The contract liability balances are presented in the Company’s consolidated balance sheet as “Deferred revenue”.

The following table presents information about the Company’s contract liability balance:

	Three Months Ended October 31,
	2019		2018
	(in thousands)
Revenue recognized in the period from amounts included in the contract liability balance at the beginning of the period	$	29,112	$	28,506

Deferred Customer Contract Acquisition and Fulfillment Costs

The Company incurs incremental costs of obtaining a customer contract, it does not incur direct costs to fulfill contracts. The Company’s incremental costs of obtaining a customer contract are sales commissions paid to acquire customers. For Telecom & Payment Services, the Company applies the practical expedient whereby the Company primarily charges these costs to expense when incurred because the amortization period would be one year or less for the asset that would have been recognized from deferring these costs. For net2phone-UCaaS sales, employees and third parties receive commissions on sales to end users. The Company amortizes the deferred costs over the expected customer relationship period when it is expected to exceed one year.

The Company’s deferred customer contract acquisition costs were as follows:

	October 31, 2019		July 31, 2019
	(in thousands)
Deferred customer contract acquisition costs included in “Other current assets”	$	1,754	$	1,474
Deferred customer contract acquisition costs included in “Other assets”		1,916		1,716
Total	$	3,670	$	3,190

The Company’s amortization of deferred customer contract acquisition costs during the periods were as follows:

	Three Months Ended October 31,
	2019		2018
	(in thousands)
Amortization of deferred customer contract acquisition costs	$	551	$	—

Note 3—Leases

On August 1, 2019, the Company adopted Accounting Standards Update No. 2016-02, Leases (Topic 842), and the amendments thereto, related to the accounting for leases (collectively referred to as “ASC 842”). ASC 842 establishes a right-of-use (“ROU”) model that requires a lessee to record a ROU asset and a lease liability on its balance sheet for all leases with terms longer than 12 months. Leases are classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. Entities have the option to continue to apply historical accounting under Topic 840, the previously applicable standard, including its disclosure requirements, in comparative periods presented in the year of adoption. An entity that elects this option will recognize a cumulative effect adjustment to the opening balance of retained earnings in the period of adoption instead of the earliest period presented.

The Company elected to apply the optional ASC 842 transition provisions beginning on August 1, 2019. Accordingly, the Company will continue to apply Topic 840 prior to August 1, 2019, including Topic 840 disclosure requirements, in the comparative periods presented. The Company elected the package of practical expedients for all its leases that commenced before August 1, 2019. In addition, the Company elected not to apply the recognition requirements of ASC 842 for its short-term leases.

The Company’s leases primarily consist of operating leases for office space. These leases have remaining terms from one to six years. net2phone-UCaaS also has operating leases for office equipment. Certain of these leases include renewal options that may be exercised and/or options to terminate the lease. The Company has concluded that it is not reasonably certain that it would exercise the options to extend the lease or terminate the lease.

The adoption of ASC 842 resulted in the recognition of operating lease liabilities of $12.4 million and operating ROU assets of the same amount as of August 1, 2019 based on the present value of the remaining minimum rental payments associated with the Company’s leases. As the Company’s leases do not provide an implicit rate, nor is one readily available, the Company used its incremental borrowing rate based on information available at August 1, 2019 to determine the present value of its future minimum rental payments.

net2phone has equipment leases that were classified as capital leases under Topic 840 and are finance leases under ASC 842. net2phone is also the lessor in various equipment leases that were classified as sales-type capital leases under Topic 840, that are classified as sales-type finance leases under ASC 842. The assets and liabilities related to these finance leases are not material to the Company’s consolidated balance sheets.

Supplemental disclosures related to the Company’s operating leases were as follows:

	Three Months Ended October 31, 2019
	(in thousands)
Operating lease cost	$	711
Short-term lease cost		58
Total lease cost	$	769
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	684

	October 31, 2019

Weighted-average remaining lease term-operating leases		4.9 years
Weighted-average discount rate-operating leases		3.12	%

The Company’s aggregate operating lease liability was as follows:

	October 31, 2019
	(in thousands)
Operating lease liabilities included in “Other current liabilities”	$	2,417
Operating lease liabilities included in noncurrent liabilities		9,335
Total	$	11,752

Future minimum maturities of operating lease liabilities were as follows:

	Twelve-month period ending October 31,
	(in thousands)
2020	$	2,776
2021		2,637
2022		2,438
2023		1,996
2024		1,880
Thereafter		986
Total lease payments		12,713
Less imputed interest		(961	)
Total operating lease liabilities	$	11,752

Note 4—Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents

The following table provides a reconciliation of cash, cash equivalents, and restricted cash and cash equivalents reported in the consolidated balance sheet that equals the total of the same amounts reported in the consolidated statement of cash flows:

	October 31, 2019		July 31, 2019
	(in thousands)
Cash and cash equivalents	$	62,183	$	80,168
Restricted cash and cash equivalents		190,218		177,031
Total cash, cash equivalents, and restricted cash and cash equivalents	$	252,401	$	257,199

At October 31, 2019 and July 31, 2019, restricted cash and cash equivalents included $190.1 million and $176.8 million, respectively, in restricted cash and cash equivalents held by IDT Financial Services Limited, the Company’s Gibraltar-based bank.

Note 5—Debt Securities

The following is a summary of available-for-sale debt securities:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
	(in thousands)
October 31, 2019:
Certificates of deposit*	$	9,894	$	—	$	—	$	9,894

July 31, 2019:
Certificates of deposit*	$	2,234	$	—	$	—	$	2,234
Municipal bonds		300		—		—		300
Total	$	2,534	$	—	$	—	$	2,534

Each of the Company’s certificates of deposit has a CUSIP, was purchased in the secondary market through a broker, and may be sold in the secondary market.

Proceeds from maturities and sales of debt securities and sales of equity investments were $0.8 million and $3.4 million in the three months ended October 31, 2019 and 2018, respectively. There were no realized gains or realized losses from sales of debt securities in the three months ended October 31, 2019 and 2018. The Company uses the specific identification method in computing the realized gains and realized losses on the sales of debt securities.

The contractual maturities of the Company’s available-for-sale debt securities at October 31, 2019 were as follows:

	Fair Value
	(in thousands)
Within one year	$	8,694
After one year through five years		1,200
After five years through ten years		—
After ten years		—
Total	$	9,894

Note 6—Equity Investments

Equity investments consist of the following:

	October 31, 2019		July 31, 2019
	(in thousands)
Zedge, Inc. Class B common stock, 42,282 shares at October 31, 2019 and July 31, 2019	$	74	$	68
Rafael Holdings, Inc. Class B common stock, 27,419 shares at October 31, 2019 and July 31, 2019		476		567
Mutual funds		5,160		5,053
Current “Equity investments”	$	5,710	$	5,688

Visa Inc. Series C Convertible Participating Preferred Stock (“Visa Series C Preferred”)	$	3,637	$	3,619
Hedge funds		5,475		5,475
Other		225		225
Noncurrent “Equity investments”	$	9,337	$	9,319

On June 1, 2016, the Company completed a pro rata distribution of the common stock that the Company held in the Company’s subsidiary Zedge, Inc. to the Company’s stockholders of record as of the close of business on May 26, 2016. On March 26, 2018, the Company completed a pro rata distribution of the common stock that the Company held in the Company’s subsidiary Rafael Holdings, Inc. (“Rafael”) to the Company’s stockholders of record as of the close of business on March 13, 2018. The Company received the Zedge and Rafael shares in connection with the lapsing of restrictions on Zedge and Rafael restricted stock held by certain of the Company’s employees and the Company’s payment of taxes related thereto.

In June 2016, upon the acquisition of Visa Europe Limited by Visa, Inc., IDT Financial Services Limited received 1,830 shares of Visa Series C Preferred among other consideration. Each share of Visa Series C Preferred is convertible into 13.886 shares of Visa Class A common stock, subject to certain conditions, starting in June 2020 and will be convertible at the holder’s option beginning in June 2028.

The changes in the carrying value of the Company’s equity investments without readily determinable fair values for which the Company elected the measurement alternative was as follows:

	Three Months Ended October 31,
	2019		2018
	(in thousands)
Balance, beginning of period	$	3,919	$	1,883
Adoption of change in accounting for equity investments		—		1,213
Adjusted balance		3,919		3,096
Adjustment for observable transactions involving a similar investment from the same issuer		18		22
Impairments		—		—
Balance, end of the period	$	3,937	$	3,118

In the three months ended October 31, 2019 and 2018, the Company increased the carrying value of the 1,830 shares of Visa Series C Preferred it held by $18,000 and $22,000, respectively, based on the fair value of Visa Class A common stock and a discount for lack of current marketability.

Unrealized gains and losses for all equity investments included the following:

	Three Months Ended October 31,
	2019		2018
	(in thousands)
Net gains (losses) recognized during the period on equity investments	$	26	$	(46	)
Less: net gains and losses recognized during the period on equity investments sold during the period		—		—
Unrealized gains (losses) recognized during the period on equity investments still held at the reporting date	$	26	$	(46	)

Note 7—Fair Value Measurements

The following tables present the balance of assets measured at fair value on a recurring basis:

	Level 1 (1)		Level 2 (2)		Level 3 (3)		Total
	(in thousands)
October 31, 2019
Debt securities	$	—	$	9,894	$	—	$	9,894
Equity investments included in current assets		5,710		—		—		5,710
Equity investments included in noncurrent assets		—		—		3,637		3,637
Total	$	5,710	$	9,894	$	3,637	$	19,241
July 31, 2019
Debt securities	$	—	$	2,534	$	—	$	2,534
Equity investments included in current assets		5,688		—		—		5,688
Equity investments included in noncurrent assets		—		—		3,619		3,619
Total	$	5,688	$	2,534	$	3,619	$	11,841

(1) – quoted prices in active markets for identical assets or liabilities

(2) – observable inputs other than quoted prices in active markets for identical assets and liabilities

(3) – no observable pricing inputs in the market

At October 31, 2019 and July 31, 2019, the Company had $5.5 million in investments in hedge funds, which were included in noncurrent “Equity investments” in the accompanying consolidated balance sheets. The Company’s investments in hedge funds were accounted for using the equity method, therefore they were not measured at fair value.

At October 31, 2019 and July 31, 2019, the Company did not have any liabilities measured at fair value on a recurring basis.

The following table summarizes the change in the balance of the Company’s assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3). There were no liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) in the three months ended October 31, 2019 and 2018.

	Three Months Ended October 31,
	2019		2018
	(in thousands)
Balance, beginning of period	$	3,619	$	—
Transfer into Level 3 from adoption of change in accounting for equity investments		—		2,794
Total gains recognized in “Other income (expense), net”		18		22
Balance, end of period	$	3,637	$	2,816
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the period	$	18	$	22

Fair Value of Other Financial Instruments

The estimated fair value of the Company’s other financial instruments was determined using available market information or other appropriate valuation methodologies. However, considerable judgment is required in interpreting these data to develop estimates of fair value. Consequently, the estimates are not necessarily indicative of the amounts that could be realized or would be paid in a current market exchange.

Cash and cash equivalents, restricted cash and cash equivalents, other current assets, customer deposits, and other current liabilities. At October 31, 2019 and July 31, 2019, the carrying amount of these assets and liabilities approximated fair value because of the short period of time to maturity. The fair value estimates for cash, cash equivalents and restricted cash and cash equivalents were classified as Level 1 and other current assets, customer deposits, and other current liabilities were classified as Level 2 of the fair value hierarchy.

Other assets and other liabilities. At October 31, 2019 and July 31, 2019, the carrying amount of these assets and liabilities approximated fair value. The fair values were estimated based on the Company’s assumptions, which were classified as Level 3 of the fair value hierarchy.

Note 8—Acquisition of Versature Corp.

On September 14, 2018, the Company acquired 100% of the outstanding shares of Versature Corp., a UCaaS provider serving the Canadian market, for cash of $5.9 million. Versature’s operating results from the date of acquisition, which were not significant, are included in the Company’s consolidated financial statements.

The following table presents unaudited pro forma information of the Company as if the acquisition occurred on August 1, 2018:

	Three Months Ended October 31,
	2019			2018
	(in thousands)
Revenues	$	340,245		$	363,200
Net loss	$	(1,422	)	$	(2,206	)

Note 9—Other Operating Expense, Net

The following table summarizes the other operating expense, net by business segment:

	Three Months Ended October 31,
	2019		2018
	(in thousands)
Corporate—Straight Path Communications Inc. class action legal fees	$	260	$	195
net2phone—indemnification claim		365		—
Telecom & Payment Services—accrual for non-income related taxes related to a foreign subsidiary		2,150		1,100
Total other operating expense, net	$	2,775	$	1,295

Straight Path Communications Inc. Class Action

On July 31, 2013, the Company completed a pro rata distribution of the common stock of the Company’s subsidiary Straight Path Communications Inc. (“Straight Path”) to the Company’s stockholders of record as of the close of business on July 25, 2013. As discussed in Note 15, a putative class action on behalf of Straight Path’s stockholders and derivative complaint was filed naming the Company, among others. In the three months ended October 31, 2019 and 2018, the Company incurred legal fees of $0.7 million and $0.2 million, respectively, related to this action. Also, in the three months ended October 31, 2019, the Company recorded insurance proceeds for this matter of $0.4 million.

Indemnification Claim

In June 2019, as part of a commercial resolution, the Company indemnified a net2phone cable telephony customer related to patent infringement claims brought against the customer.

Accrual for Non-Income Related Taxes

In the fourth quarter of fiscal 2019, the Company recorded an $8.0 million accrual for non-income related taxes related to one of its foreign subsidiaries. A portion of the accrual related to each of the fiscal quarters in fiscal 2019. Accordingly, the Company corrected its consolidated financial statements for the three months ended October 31, 2018, January 31, 2019, and April 30, 2019 to include the accrued expense and the related income tax benefit. The Company has determined that the adjustments were not material to its previously issued quarterly financial statements. The impact of the correction on the Company’s previously issued consolidated financial statements for the three months ended October 31, 2018 was as follows:

	Three Months Ended October 31, 2018
	Previously Reported			Error Correction			As Adjusted
	(in thousands, except per share data)
Consolidated Statement of Operations:
Other operating expense	$	(195	)	$	(1,100	)	$	(1,295	)
Provision for income taxes	$	(1,189	)	$	250		$	(939	)
Net loss	$	(1,148	)	$	(850	)	$	(1,998	)
Net loss attributable to IDT Corporation	$	(1,449	)	$	(850	)	$	(2,299	)
Loss per share attributable to IDT Corporation common stockholders:
Basic	$	(0.06	)	$	(0.04	)	$	(0.10	)
Diluted	$	(0.06	)	$	(0.04	)	$	(0.10	)

Note 10—Equity

Stock Repurchases

The Company has an existing stock repurchase program authorized by its Board of Directors for the repurchase of up to an aggregate of 8.0 million shares of the Company’s Class B common stock. There were no repurchases under the program in the three months ended October 31, 2019. In the three months ended October 31, 2018, the Company repurchased 729,110 shares of Class B common stock for an aggregate purchase price of $3.9 million. At October 31, 2019, 6.9 million shares remained available for repurchase under the stock repurchase program.

2015 Stock Option and Incentive Plan

In the three months ended October 31, 2019, the Company received proceeds from the exercise of stock options of $0.3 million for which the Company issued 32,551 shares of its Class B common stock. There were no stock option exercises in the three months ended October 31, 2018.

On September 12, 2019, the Company’s Board of Directors amended the Company’s 2015 Stock Option and Incentive Plan to increase the number of shares of the Company’s Class B common stock available for the grant of awards thereunder by an additional 0.4 million shares. The amendment is subject to approval by the Company’s stockholders at its annual meeting of stockholders on December 12, 2019.

Note 11—Loss Per Share

Basic earnings per share is computed by dividing net income attributable to all classes of common stockholders of the Company by the weighted average number of shares of all classes of common stock outstanding during the applicable period. Diluted earnings per share is computed in the same manner as basic earnings per share, except that the number of shares is increased to include restricted stock still subject to risk of forfeiture and to assume exercise of potentially dilutive stock options using the treasury stock method, unless the effect of such increase is anti-dilutive.

The following shares were excluded from the diluted loss per share computations because their inclusion would have been anti-dilutive:

	Three Months Ended October 31,
	2019		2018
	(in thousands)
Stock options		1,190		1,243
Non-vested restricted Class B common stock		616		49
Shares excluded from the calculation of diluted earnings per share		1,806		1,292

The diluted loss per share equals basic loss per share in the three months ended October 31, 2019 and 2018 because the Company had a net loss and the impact of the assumed exercise of stock options and the vesting of restricted stock would have been anti-dilutive.

Note 12—Revolving Credit Loan Payable

As of October 31, 2019, the Company’s subsidiary, IDT Telecom, Inc., entered into a credit agreement with TD Bank, N.A. for a line of credit facility for up to a maximum principal amount of $25.0 million. IDT Telecom may use the proceeds to finance working capital requirements, acquisitions and other general corporate purposes. The line of credit facility is secured by primarily all of IDT Telecom’s assets. The principal outstanding bears interest per annum at the LIBOR rate adjusted by the Regulation D maximum reserve requirement plus 125 basis points. Interest is payable monthly, and all outstanding principal and any accrued and unpaid interest is due on the maturity date of July 15, 2020. IDT Telecom pays a quarterly unused commitment fee of 0.3% per annum on the average daily balance of the unused portion of the $25.0 million commitment. IDT Telecom is required to comply with various affirmative and negative covenants as well as maintain certain financial targets and ratios during the term of the facility, including IDT Telecom may not pay any dividend on its capital stock.

Note 13—Accumulated Other Comprehensive Loss

The accumulated balances for each classification of other comprehensive loss were as follows:

	Unrealized Gain (Loss) on Available-for-Sale Securities		Foreign Currency Translation			Accumulated Other Comprehensive Loss
	(in thousands)
Balance, July 31, 2019	$	—	$	(4,858	)	$	(4,858	)
Other comprehensive loss attributable to IDT Corporation		—		(1,204	)		(1,204	)
Balance, October 31, 2019	$	—	$	(6,062	)	$	(6,062	)

Note 14—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.

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.

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 are as follows:

(in thousands)	Telecom & Payment Services			net2phone			Corporate			Total
Three Months Ended October 31, 2019
Revenues	$	327,618		$	12,627		$	—		$	340,245
Income (loss) from operations		4,372			(3,263	)		(2,501	)		(1,392	)
Other operating expense, net		(2,150	)		(365	)		(260	)		(2,775	)

Three Months Ended October 31, 2018
Revenues	$	351,849		$	10,467		$	—		$	362,316
Income (loss) from operations		4,169			(1,500	)		(2,487	)		182
Other operating expense, net		(1,100	)		—			(195	)		(1,295	)

Note 15—Commitments and Contingencies

Legal Proceedings

On April 12, 2019, Scarleth Samara filed a putative class action against IDT Telecom in the U.S. District Court for the Eastern District of Louisiana alleging certain violations of the Telephone Consumer Protection Act of 1991. Plaintiff alleges that in October of 2017, IDT Telecom sent unauthorized marketing messages to her cellphone. IDT Telecom filed a motion to compel arbitration. On or about August 19, 2019, the plaintiff agreed to dismiss the pending court action and the parties intend to proceed with arbitration. At this stage, the Company is unable to estimate its potential liability, if any. The Company intends to vigorously defend the claim.

On January 22, 2019, Jose Rosales filed a putative class action against IDT America, IDT Domestic Telecom and IDT International in California state court alleging certain violations of employment law. Plaintiff alleges that these companies failed to compensate members of the putative class in accordance with California law. The Company is evaluating the claims, and at this stage, is unable to estimate its potential liability, if any. The Company intends to vigorously defend the claims. In August 2019, the Company filed a cross complaint against Rosales alleging trade secret and other violations.

On May 21, 2018, Erik Dennis filed a putative class action against IDT Telecom and the Company in the U.S. District Court for the Northern District of Georgia alleging violations of Do Not Call Regulations promulgated by the U.S. Federal Trade Commission. On October 31, 2019, the parties settled the matter and filed a stipulation of dismissal with prejudice.

On May 2, 2018, Jean Carlos Sanchez filed a putative class action against IDT Telecom in the U.S. District Court for the Northern District of Illinois alleging that the Company sent unauthorized marketing messages to cellphones in violation of the Telephone Consumer Protection Act of 1991. On July 26, 2018, the parties filed a stipulation of dismissal. The Company is evaluating the claim, and at this stage, is unable to estimate its potential liability, if any. The Company intends to vigorously defend this matter.

On April 24, 2018, Sprint Communications Company L.P. filed a patent infringement claim against the Company and certain of its affiliates in the U.S. District Court for the District of Delaware alleging infringement of U.S. Patent Nos. 6,298,064; 6,330,224; 6,343,084; 6,452,932; 6,463,052; 6,473,429; 6,563,918; 6,633,561; 6,697,340; 6,999,463; 7,286,561; 7,324,534; 7,327,728; 7,505,454; and 7,693,131. Plaintiff was seeking damages and injunctive relief. On June 28, 2018, Sprint dismissed the complaint without prejudice. The Company is evaluating the underlying claim, and at this stage, is unable to estimate its potential liability, if any. The Company intends to vigorously defend any claim of infringement of the listed patents.

On July 5, 2017, plaintiff JDS1, LLC, on behalf of itself and all other similarly situated stockholders of Straight Path, and derivatively on behalf of Straight Path as nominal defendant, filed a putative class action and derivative complaint in the Court of Chancery of the State of Delaware against the Company, The Patrick Henry Trust (a trust formed by Howard S. Jonas that held record and beneficial ownership of certain shares of Straight Path he formerly held), Howard S. Jonas, and each of Straight Path’s directors. The complaint alleges that the Company aided and abetted Straight Path Chairman of the Board and Chief Executive Officer Davidi Jonas, and Howard S. Jonas in his capacity as controlling stockholder of Straight Path, in breaching their fiduciary duties to Straight Path in connection with the settlement of claims between Straight Path and the Company related to potential indemnification claims concerning Straight Path’s obligations under the Consent Decree it entered into with the Federal Communications Commission (“FCC”), as well as the sale of Straight Path’s subsidiary Straight Path IP Group, Inc. to the Company in connection with that settlement. That action was consolidated with a similar action that was initiated by The Arbitrage Fund. The Plaintiffs are seeking, among other things, (i) a declaration that the action may be maintained as a class action or in the alternative, that demand on the Straight Path Board is excused; (ii) that the term sheet is invalid; (iii) awarding damages for the unfair price stockholders received in the merger between Straight Path and Verizon Communications Inc. for their shares of Straight Path’s Class B common stock; and (iv) ordering Howard S. Jonas, Davidi Jonas, and the Company to disgorge any profits for the benefit of the class Plaintiffs. On August 28, 2017, the Plaintiffs filed an amended complaint. On September 24, 2017, the Company filed a motion to dismiss the amended complaint. Following closing of the transaction, the Delaware Chancery Court denied the motion to dismiss. On February 22, 2019, the Delaware Supreme Court affirmed the denial of the motion to dismiss. The parties are engaged in discovery. The Company intends to vigorously defend this matter (see Note 9). At this stage, the Company is unable to estimate its potential liability, if any.

In addition to the foregoing, the Company is subject to other legal proceedings that have arisen in the ordinary course of business and have not been finally adjudicated. Although there can be no assurance in this regard, the Company believes that none of the other legal proceedings to which the Company is a party will have a material adverse effect on the Company’s results of operations, cash flows or financial condition.

Sales Tax Contingency

On June 21, 2018, the United States Supreme Court rendered a decision in South Dakota v. Wayfair, Inc., holding that a state may require a remote seller with no physical presence in the state to collect and remit sales tax on goods and services provided to purchasers in the state, overturning certain existing court precedent. The Company is evaluating its state tax filings with respect to the Wayfair decision and is in the process of reviewing its collection practices. It is possible that one or more jurisdictions may assert that the Company has liability for periods for which it has not collected sales, use or other similar taxes, and if such an assertion or assertions were successful it could materially and adversely affect the Company’s business, financial position and operating results. One or more jurisdictions may change their laws or policies to apply their sales, use or other similar taxes to the Company’s operations, and if such changes were made it could materially and adversely affect the Company’s business, financial position and operating results.

Regulatory Fee Audit

The Company’s 2017 FCC Form 499-A, which reports its calendar year 2016 revenue, related to payments due to the FCC, is currently under audit by the Internal Audit Division of the Universal Service Administrative Company. At October 31, 2019 and July 31, 2019, the Company’s accrued expenses included $42.1 million and $44.7 million, respectively, for these regulatory fees for the years covered by the audit, as well as prior and subsequent years.

Purchase Commitments

At October 31, 2019, the Company had purchase commitments of $30.7 million, including the aggregate commitment of $26.5 million under the telecom services commitments described below.

Telecom Services Commitments

In May 2019, the Company entered into a Memorandum of Understanding (“MOU”) with a telecom operator in Central America for among other things, termination of inbound and outbound international long-distance voice calls. The MOU is effective until December 31, 2019, unless superseded by the execution of a definitive agreement. The Company has committed to pay such telecom operator monthly committed amounts during the term of the MOU. The parties intend to draft and execute a definitive agreement as soon as practicable.

In August 2017, the Company entered into a Reciprocal Services Agreement with a telecom operator in Central America for a full range of services, including, but not limited to, termination of inbound and outbound international long-distance voice calls. The Company has committed to pay such telecom operator monthly committed amounts during the term of the agreement. In addition, under certain limited circumstances, either party has the right to terminate the agreement. Pursuant to the agreement, the Company deposited $9.2 million into an escrow account as security for the benefit of the telecom operator, which is included in “Other current assets” in the accompanying consolidated balance sheet based on the terms and conditions of the agreement.

Performance Bonds

The Company has performance bonds issued through third parties for the benefit of various states in order to comply with the states’ financial requirements for money remittance licenses and telecommunications resellers. At October 31, 2019, the Company had aggregate performance bonds of $17.5 million outstanding.

Company Restricted Cash and Cash Equivalents

The Company treats unrestricted cash and cash equivalents held by IDT Payment Services, which provides the Company’s international money transfer services in the United States, as substantially restricted and unavailable for other purposes. At October 31, 2019 and July 31, 2019, “Cash and cash equivalents” in the Company’s consolidated balance sheets included an aggregate of $9.8 million and $13.2 million, respectively, held by IDT Payment Services that was unavailable for other purposes.

FCC Investigation of Straight Path Spectrum LLC

On September 20, 2016, the Company received a letter of inquiry from the Enforcement Bureau of the FCC requesting certain information and materials related to an investigation of potential violations by Straight Path Spectrum LLC (formerly a subsidiary of the Company and Straight Path) in connection with licenses to operate on the 28 GHz and 39 GHz bands of the Fixed Microwave Services. The Company has cooperated with the FCC in this matter and has responded to the letter of inquiry. If the FCC were to pursue separate action against the Company, the FCC could seek to fine or impose regulatory penalties or civil liability on the Company related to activities during the period of ownership by the Company.

Note 16—Other Income (Expense), Net

Other income (expense), net consists of the following:

	Three Months Ended October 31,
	2019			2018
	(in thousands)
Foreign currency transaction gains (losses)	$	671		$	(1,205	)
Gain (loss) on investments		26			(46	)
Other		(463	)		(98	)
Total other income (expense), net	$	234		$	(1,349	)

Note 17—Recently Issued Accounting Standard Not Yet Adopted

In June 2016, the Financial Accounting Standards Board issued Accounting Standards Update No. 2016-13, Financial Instruments—Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments, that changes the impairment model for most financial assets and certain other instruments. For receivables, loans and other instruments, entities will be required to use a new forward-looking current expected credit loss model that generally will result in the earlier recognition of allowance for losses. For available-for-sale debt securities with unrealized losses, entities will measure credit losses in a manner similar to current practice, except the losses will be recognized as allowances instead of reductions in the amortized cost of the securities. In addition, an entity will have to disclose significantly more information about allowances, credit quality indicators and past due securities. The new provisions will be applied as a cumulative-effect adjustment to retained earnings. The Company will adopt the new standard on August 1, 2023. The Company is evaluating the impact that the new standard will have on its consolidated financial statements.

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following information should be read in conjunction with the accompanying consolidated financial statements and the associated notes thereto of this Quarterly Report, and the audited consolidated financial statements and the notes thereto and our Management’s Discussion and Analysis of Financial Condition and Results of Operations contained in our Annual Report on Form 10-K for the fiscal year ended July 31, 2019, as filed with the U.S. Securities and Exchange Commission (or SEC).

As used below, unless the context otherwise requires, the terms “the Company,” “IDT,” “we,” “us,” and “our” refer to IDT Corporation, a Delaware corporation, its predecessor, International Discount Telecommunications, Corp., a New York corporation, and their subsidiaries, collectively.

Forward-Looking Statements

This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements that contain the words “believes,” “anticipates,” “expects,” “plans,” “intends,” and similar words and phrases. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the results projected in any forward-looking statement. In addition to the factors specifically noted in the forward-looking statements, other important factors, risks and uncertainties that could result in those differences include, but are not limited to, those discussed under Item 1A to Part I “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended July 31, 2019. The forward-looking statements are made as of the date of this report and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Investors should consult all of the information set forth in this report and the other information set forth from time to time in our reports filed with the SEC pursuant to the Securities Act of 1933 and the Securities Exchange Act of 1934, including our Annual Report on Form 10-K for the fiscal year ended July 31, 2019.

Overview

We are a multinational company with operations primarily in the telecommunications and payment industries. We have two reportable business segments, Telecom & Payment Services and net2phone. Our Telecom & Payment Services segment provides retail telecommunications and payment offerings as well as wholesale international long-distance traffic termination. Our net2phone segment provides unified cloud communications and telephony services to business customers.

On March 26, 2018, we completed a pro rata distribution of the common stock of our former subsidiary, Rafael Holdings, Inc., or Rafael, to our stockholders of record as of the close of business on March 13, 2018, which we refer to as the Rafael Spin-Off. We lease office space and parking in Rafael’s building and parking garage located at 520 Broad St, Newark, New Jersey. We also lease office space in Israel from Rafael. The Newark lease expires in April 2025 and the Israel lease expires in July 2025. In the three months ended October 31, 2019 and 2018, we incurred rent expense of $0.5 million and $0.4 million, respectively, in connection with the Rafael leases.

Critical Accounting Policies

Our consolidated financial statements and accompanying notes are prepared in accordance with accounting principles generally accepted in the United States of America, or U.S. GAAP. Our significant accounting policies are described in Note 1 to the consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended July 31, 2019. The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses as well as the disclosure of contingent assets and liabilities. Critical accounting policies are those that require application of management’s most subjective or complex judgments, often as a result of matters that are inherently uncertain and may change in subsequent periods. Our critical accounting policies include those related to the allowance for doubtful accounts, goodwill, valuation of long-lived assets, income taxes and regulatory agency fees, and direct cost of revenues—disputed amounts. Management bases its estimates and judgments on historical experience and other factors that are believed to be reasonable under the circumstances. Actual results may differ from these estimates under different assumptions or conditions. For additional discussion of our critical accounting policies, see our Management’s Discussion and Analysis of Financial Condition and Results of Operations in our Annual Report on Form 10-K for the fiscal year ended July 31, 2019.

Recently Issued Accounting Standard Not Yet Adopted

In June 2016, the Financial Accounting Standards Board issued Accounting Standards Update No. 2016-13, Financial Instruments—Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments, that changes the impairment model for most financial assets and certain other instruments. For receivables, loans and other instruments, entities will be required to use a new forward-looking current expected credit loss model that generally will result in the earlier recognition of allowance for losses. For available-for-sale debt securities with unrealized losses, entities will measure credit losses in a manner similar to current practice, except the losses will be recognized as allowances instead of reductions in the amortized cost of the securities. In addition, an entity will have to disclose significantly more information about allowances, credit quality indicators and past due securities. The new provisions will be applied as a cumulative-effect adjustment to retained earnings. We will adopt the new standard on August 1, 2023. We are evaluating the impact that the new standard will have on our consolidated financial statements.

Results of Operations

Three Months Ended October 31, 2019 Compared to Three Months Ended October 31, 2018

We evaluate the performance of our operating business segments based primarily on income (loss) from operations. Accordingly, the income and expense line items below income (loss) from operations are only included in our discussion of the consolidated results of operations.

Telecom & Payment Services Segment

Telecom & Payment Services, which represented 96.3% and 97.1% of our total revenues in the three months ended October 31, 2019 and 2018, respectively, markets and distributes the following communications and payment services:

●

Core includes our three largest communications and payments offerings by revenue: BOSS Revolution Calling, an international long-distance calling service marketed primarily to immigrant communities in the United States, Carrier Services, which provides international long-distance termination and outsourced traffic management solutions to telecoms worldwide, and Mobile Top-Up, which enables customers to transfer airtime and bundles of airtime, messaging and data credits to mobile accounts internationally and domestically. Core also includes smaller communications and payments offerings, many in harvest mode.

●

Growth comprises National Retail Solutions, which operates a point-of-sale, or POS, terminal-based network for retailers, BOSS Revolution Money Transfer, an international money remittance service for customers in the United States, and BOSS Revolution Mobile, a mobile virtual network operator which provides mobile phone service over a third-party network for customers in the United States.

Our Telecom & Payment Services segment’s most significant revenue streams are from BOSS Revolution Calling, Mobile Top-Up, and Carrier Services. BOSS Revolution Calling and Mobile Top-Up are sold direct-to-consumers and through distributors and retailers. We receive payments for BOSS Revolution Calling, traditional calling cards, and Mobile Top-Up prior to providing the services. We recognize the revenue when services are provided to the customer. International prepaid calling revenues tend to be somewhat seasonal, with the second fiscal quarter (which contains Christmas and New Year’s Day) and the fourth fiscal quarter (which contains Mother’s Day and Father’s Day) typically showing higher minute volumes.

	Three months ended October 31,				Change
	2019		2018		$			%
	(in millions)
Revenues	$	327.6	$	351.8	$	(24.2	)		(6.9	)%
Direct cost of revenues		276.5		301.6		(25.1	)		(8.4	)
Selling, general and administrative		40.8		40.9		(0.1	)		(0.1	)
Depreciation and amortization		3.2		4.0		(0.8	)		(21.2	)
Severance		0.6		—		0.6			nm
Other operating expense, net		2.1		1.1		1.0			94.5
Income from operations	$	4.4	$	4.2	$	0.2			4.9	%

nm—not meaningful

Revenues. Telecom & Payment Services’ revenues and minutes of use for the three months ended October 31, 2019 and 2018 consisted of the following:

	Three months ended October 31,				Change
	2019		2018		$/#			%
	(in millions)
Core Operations:
BOSS Revolution Calling	$	116.3	$	123.5	$	(7.2	)		(5.9	)%
Carrier Services		113.5		142.2		(28.7	)		(20.2	)
Mobile Top-Up		76.8		65.3		11.5			17.6
Other		11.2		14.8		(3.6	)		(23.8	)
Growth		9.8		6.0		3.8			63.1
Total revenues	$	327.6	$	351.8	$	(24.2	)		(6.9	)%
Minutes of use
BOSS Revolution Calling		1,002		1,108		(106	)		(9.6	)%
Carrier Services		4,314		4,508		(194	)		(4.3	)

Revenues and minutes of use from BOSS Revolution Calling decreased in the three months ended October 31, 2019 compared to the similar period in fiscal 2019 in line with our expectations. BOSS Revolution Calling continues to be impacted by persistent, market-wide trends, including the proliferation of unlimited calling plans offered by wireless carriers and mobile virtual network operators, and the increasing penetration of free and paid over-the-top voice and messaging services.

Revenues and minutes of use from Carrier Services decreased in the three months ended October 31, 2019 compared to the similar period in fiscal 2019. Over the long-term, we expect that Carrier Services will continue to be adversely impacted as communications globally transition away from traditional international long-distance voice operators. However, Carrier Services’ minutes of use and revenues will likely continue to fluctuate significantly from quarter-to-quarter, as we seek to maximize economics rather than necessarily sustain minutes of use or revenues.

Revenues from Mobile Top-Up increased in the three months ended October 31, 2019 compared to the similar period in fiscal 2019 due to expanded bundled offerings of minutes, text and data, and growth from the addition of new mobile partners.

Revenues from our Growth initiatives increased in the three months ended October 31, 2019 compared to the similar period in fiscal 2019. BOSS Revolution Money Transfer revenues increased 56% to $7.4 million in the three months ended October 31, 2019 compared to the similar period in fiscal 2019 as revenues from both the direct-to-consumer and retail channels increased. Revenues from BOSS Revolution Money Transfer direct-to-consumer increased 69% to $4.6 million in the three months ended October 31, 2019 compared to the similar period in fiscal 2019 due to expansion of our international disbursement network, enhanced transaction fulfillment technology, and intensified marketing. National Retail Solutions’ revenues increased 93% in the three months ended October 31, 2019 compared to the similar period in fiscal 2019 driven by expansion of its POS network to additional retailers and increased revenue from advertising, data analytics and credit card processing that supplement the monthly recurring fees generated by the use of its terminals.

	Three months ended October 31,
	2019			2018			Change
Telecom & Payment Services
Direct cost of revenues as a percentage of revenues		84.4	%		85.7	%		(1.3	)%

Direct Cost of Revenues. Direct cost of revenues in Telecom & Payment Services decreased in the three months ended October 31, 2019 compared to the similar period in fiscal 2019 primarily due to decreases in Carrier Services’ and BOSS Revolution Calling’s direct cost of revenues in the three months ended October 31, 2019 compared to the similar period in fiscal 2019, partially offset by an increase in Mobile Top-Up’s direct cost of revenues in the three months ended October 31, 2019 compared to the similar period in fiscal 2019. Direct cost of revenues as a percentage of revenues in Telecom & Payment Services decreased 130 basis points in the three months ended October 31, 2019 compared to the similar period in fiscal 2019 primarily due to a shift to higher margin traffic in Carrier Services resulting from the implementation of an outsourcing agreement in a key calling corridor, and the continued migration of BOSS Revolution Calling customers to the direct-to-consumer channel.

Selling, General and Administrative. Selling, general and administrative expense in our Telecom & Payment Services segment decreased in the three months ended October 31, 2019 compared to the similar period in fiscal 2019 primarily due to a decrease in employee compensation, partially offset by increases in stock-based compensation and marketing expense. As a percentage of Telecom & Payment Services’ revenue, Telecom & Payment Services’ selling, general and administrative expense increased to 12.5% from 11.6% in the three months ended October 31, 2019 and 2018, respectively.

Depreciation and Amortization. Depreciation and amortization expense in our Telecom & Payment Services segment decreased in the three months ended October 31, 2019 compared to the similar period in fiscal 2019 as more of our property, plant and equipment became fully depreciated, partially offset by depreciation of equipment added to our telecommunications network and capitalized costs of consultants and employees developing internal use software.

Severance. In the three months ended October 31, 2019, Telecom & Payment Services incurred severance expense of $0.6 million.

Other Operating Expense, net. In the three months ended October 31, 2019 and 2018, Telecom & Payment Services recorded accruals for non-income related taxes related to one of its foreign subsidiaries of $2.1 million and $1.1 million, respectively.

net2phone Segment

Our net2phone segment, which represented 3.7% and 2.9% of our total revenues in the three months ended October 31, 2019 and 2018, respectively, is comprised of two verticals:

●

net2phone-Unified Communications as a Service, or UCaaS, a unified cloud communications service for businesses in North and South America and certain other international markets; and

●

net2phone-Platform Services, which provides telephony services to cable operators and other businesses by leveraging a common technology platform.

	Three months ended October 31,						Change
	2019			2018			$			%
	(in millions)
Revenues	$	12.6		$	10.5		$	2.1			20.6	%
Direct cost of revenues		3.0			3.0			—			(1.2	)
Selling, general and administrative		10.4			7.4			3.0			41.1
Depreciation and amortization		2.1			1.6			0.5			36.1
Other operating expense, net		0.4			—			0.4			nm
Loss from operations	$	(3.3	)	$	(1.5	)	$	(1.8	)		(117.5	)%

nm—not meaningful

Revenues. net2phone’s revenues in the three months ended October 31, 2019 and 2018 consisted of the following:

	Three months ended October 31,				Change
	2019		2018		$			%
	(in millions)
net2phone-UCaaS	$	7.2	$	4.8	$	2.4			50.3	%
net2phone-Platform Services		5.4		5.7		(0.3	)		(4.5	)
Total revenues	$	12.6	$	10.5	$	2.1			20.6	%

net2phone-UCaaS’s revenues increased in the three months ended October 31, 2019 compared to the similar period in fiscal 2019 driven by the expansion of its U.S. channel partner network and growth in South American markets. On September 14, 2018, net2phone-UCaaS entered the Canadian market through the acquisition of Versature Corp. Versature’s revenues increased $1.0 million in the three months ended October 31, 2019 compared to the similar period in fiscal 2019.

	Three months ended October 31,
	2019			2018			Change
net2phone
Direct cost of revenues as a percentage of revenues		23.7	%		29.0	%		(5.3	)%

Direct Cost of Revenues. Direct cost of revenues decreased in the three months ended October 31, 2019 compared to the similar period in fiscal 2019 primarily because of a decrease in the direct cost of revenues in net2phone-Platform Services, partially offset by an increase in the direct cost of revenues in net2phone-UCaaS. Direct cost of revenues as a percentage of revenues decreased 530 basis points in the three months ended October 31, 2019 compared to the similar period in fiscal 2019 because of decreases in direct cost of revenues as a percentage of revenues in both net2phone-UCaaS and net2phone-Platform Services.

Selling, General and Administrative. Selling, general and administrative expense increased in the three months ended October 31, 2019 compared to the similar period in fiscal 2019 due to increases in employee compensation, sales commissions, and marketing expense. As a percentage of net2phone’s revenues, net2phone’s selling, general and administrative expenses were 82.5% and 70.5% in the three months ended October 31, 2019 and 2018, respectively.

Depreciation and Amortization. The increase in depreciation and amortization expense in the three months ended October 31, 2019 compared to the similar period in fiscal 2019 was due to increases in depreciation of net2phone-UCaaS’ customer premises equipment, additional depreciation and amortization due to the acquisition of Versature, and capitalized costs of consultants and employees developing internal use software to support our new products.

Other Operating Expense, net. Other operating expense, net of $0.4 million in the three months ended October 31, 2019 was due to our indemnification of a net2phone cable telephony customer related to patent infringement claims brought against the customer.

Corporate

	Three months ended October 31,				Change
	2019		2018		$			%
	(in millions)
General and administrative expenses	$	2.2	$	2.3	$	(0.1	)		(2.2	)%
Other operating expense, net		0.3		0.2		0.1			33.6
Loss from operations	$	2.5	$	2.5	$	—			0.6	%

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, 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.

General and Administrative. Corporate general and administrative expense decreased in the three months ended October 31, 2019 compared to the similar period in fiscal 2019 primarily because of decreases in legal, professional, and consulting fees, partially offset by an increase in stock-based compensation. As a percentage of our total consolidated revenues, Corporate general and administrative expense was 0.7% and 0.6% in the three months ended October 31, 2019 and 2018, respectively.

Other Operating Expense, net. On July 31, 2013, we completed a pro rata distribution of the common stock of our former subsidiary Straight Path Communications Inc., or Straight Path, to our stockholders. As discussed in Note 15 to the Consolidated Financial Statements included in Item 1 to Part I of this Quarterly Report on Form 10-Q, a putative class action on behalf of Straight Path’s stockholders and derivative complaint was filed naming us, among others. In the three months ended October 31, 2019 and 2018, we incurred legal fees of $0.7 million and $0.2 million, respectively, related to this action. Also, in the three months ended October 31, 2019, we recorded insurance proceeds for this matter of $0.4 million.

Consolidated

The following is a discussion of our consolidated stock-based compensation expense, and our consolidated income and expense line items below income from operations.

Stock-Based Compensation Expense. Stock-based compensation expense included in consolidated selling, general and administrative expenses was $1.4 million and $0.4 million in the three months ended October 31, 2019 and 2018, respectively. At October 31, 2019, unrecognized compensation cost related to non-vested stock-based compensation was an aggregate of $3.9 million. The unrecognized compensation cost is expected to be recognized over the remaining vesting period that ends in 2022.

	Three months ended October 31,						Change
	2019			2018			$			%
	(in millions)
(Loss) income from operations	$	(1.4	)	$	0.2		$	(1.6	)		(864.8	)%
Interest income, net		0.3			0.1			0.2			151.9
Other income (expense), net		0.2			(1.3	)		1.5			117.3
Provision for income taxes		(0.5	)		(1.0	)		0.5			42.9
Net loss		(1.4	)		(2.0	)		0.6			28.8
Net income attributable to noncontrolling interests		(0.1	)		(0.3	)		0.2			69.8
Net loss attributable to IDT Corporation	$	(1.5	)	$	(2.3	)	$	0.8			34.2	%

Other Income (Expense), net. Other income (expense), net consists of the following:

	Three months ended October 31,
	2019			2018
	(in millions)
Foreign currency transaction gains (losses)	$	0.7		$	(1.2	)
Other		(0.5	)		(0.1	)
Total other income (expense), net	$	0.2		$	(1.3	)

Provision for Income Taxes. The decrease in income tax expense in the three months ended October 31, 2019 compared to the similar period in fiscal 2019 was primarily due to differences in the amount of income earned in the various taxing jurisdictions.

Net Income Attributable to Noncontrolling Interests. The change in the net income attributable to noncontrolling interests in the three months ended October 31, 2019 compared to the similar period in fiscal 2019 was due to the net loss attributable to noncontrolling interests of one of our subsidiaries of $0.1 million in the three months ended October 31, 2019. We did not record the net loss attributable to noncontrolling interests of this subsidiary in the similar period in fiscal 2019. In addition, the reduction in the net income attributable to noncontrolling interests of other subsidiaries in the three months ended October 31, 2019 compared to the similar period in fiscal 2019 was the result of a decrease in the net income of these subsidiaries.

Liquidity and Capital Resources

General

We currently expect our cash from operations in the next twelve months and the balance of cash, cash equivalents, debt securities, and current equity investments that we held on October 31, 2019 to be sufficient to meet our currently anticipated working capital and capital expenditure requirements during the twelve-month period ending October 31, 2020.

At October 31, 2019, we had cash, cash equivalents, debt securities, and current equity investments of $77.8 million and a working capital deficit (current liabilities in excess of current assets) of $22.7 million.

We treat unrestricted cash and cash equivalents held by IDT Payment Services as substantially restricted and unavailable for other purposes. At October 31, 2019, “Cash and cash equivalents” in our consolidated balance sheet included an aggregate of $9.8 million held by IDT Payment Services that was unavailable for other purposes.

	Three months ended October 31,
	2019			2018
	(in millions)
Cash flows (used in) provided by:
Operating activities	$	(5.0	)	$	8.2
Investing activities		(11.2	)		(6.5	)
Financing activities		—			(4.8	)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash and cash equivalents		11.4			(4.6	)
Decrease in cash, cash equivalents, and restricted cash and cash equivalents	$	(4.8	)	$	(7.7	)

Operating Activities

Our cash flow from operations varies significantly from quarter to quarter and from year to year, depending on our operating results and the timing of operating cash receipts and payments, specifically trade accounts receivable and trade accounts payable.

Gross trade accounts receivable decreased to $56.6 million at October 31, 2019 from $63.5 million at July 31, 2019 primarily due to collections in the three months ended October 31, 2019 in excess of amounts billed during the period, partially offset by the effect of changes in foreign currency exchange rates.

Deferred revenue arises from sales of prepaid products and varies from period to period depending on the mix and the timing of revenues. Deferred revenue decreased to $40.7 million at October 31, 2019 from $42.5 million at July 31, 2019 primarily due to decreases in the BOSS Revolution Calling and net2phone-Platform Services deferred revenue balances.

In the three months ended October 31, 2019, customer deposits at IDT Financial Services Limited, our Gibraltar-based bank, increased mainly due to the effect of exchange rate changes, which accounted for $11.4 million of the increase. Similarly, restricted cash and cash equivalents also increased by $11.4 million in the three months ended October 31, 2019 due to the effect of exchange rate changes.

On June 21, 2018, in South Dakota v Wayfair Inc., the United States Supreme Court held that states may charge sales tax on purchases made from out-of-state sellers, even if the seller does not have a physical presence in the taxing state. We are evaluating our state tax filings with respect to the Wayfair decision and are in the process of reviewing our collection practices. It is possible that one or more jurisdictions may assert that we have liability for periods for which we have not collected sales, use or other similar taxes, and if such an assertion or assertions were successful it could adversely affect our business, financial position and operating results. One or more jurisdictions may change their laws or policies to apply their sales, use or other similar taxes to our operations, and if such changes were made it could materially and adversely affect our business, financial position and operating results.

Investing Activities

Our capital expenditures were $3.9 million and $4.5 million in the three months ended October 31, 2019 and 2018, respectively. We currently anticipate that total capital expenditures for the twelve-month period ending October 31, 2020 will be $20 million to $22 million. We expect to fund our capital expenditures with our net cash provided by operating activities and cash, cash equivalents, debt securities, and current equity investments on hand.

On September 14, 2018, we acquired 100% of the outstanding shares of Versature, a UCaaS provider serving the Canadian market. In the three months ended October 31, 2018, the cash paid for the acquisition net of cash acquired was $5.5 million.

Purchases of debt securities and equity investments were $8.2 million and nil in the three months ended October 31, 2019 and 2018, respectively. Proceeds from maturities and sales of debt securities and sales of equity investments were $0.8 million and $3.4 million in the three months ended October 31, 2019 and 2018, respectively.

Financing Activities

We distributed cash of $0.2 million and $0.3 million in the three months ended October 31, 2019 and 2018, respectively, to the noncontrolling interests in certain of our subsidiaries.

In the three months ended October 31, 2019 and 2018, we repaid financing-related other liabilities of $19,000 and $0.6 million, respectively.

In the three months ended October 31, 2019, we received proceeds from the exercise of stock options of $0.3 million for which we issued 32,551 shares of our Class B common stock. There were no stock option exercises in the three months ended October 31, 2018.

We have an existing stock repurchase program authorized by our Board of Directors for the repurchase of up to an aggregate of 8.0 million shares of our Class B common stock. There were no repurchases under the program in the three months ended October 31, 2019. In the three months ended October 31, 2018, we repurchased 729,110 shares of Class B common stock for an aggregate purchase price of $3.9 million. At October 31, 2019, 6.9 million shares remained available for repurchase under the stock repurchase program.

As of October 31, 2019, our subsidiary, IDT Telecom, Inc., entered into a credit agreement with TD Bank, N.A. for a line of credit facility for up to a maximum principal amount of $25.0 million. IDT Telecom may use the proceeds to finance working capital requirements, acquisitions and other general corporate purposes. The line of credit facility is secured by primarily all of IDT Telecom’s assets. The principal outstanding bears interest per annum at the LIBOR rate adjusted by the Regulation D maximum reserve requirement plus 125 basis points. Interest is payable monthly, and all outstanding principal and any accrued and unpaid interest is due on the maturity date of July 15, 2020. IDT Telecom pays a quarterly unused commitment fee of 0.3% per annum on the average daily balance of the unused portion of the $25.0 million commitment. IDT Telecom is required to comply with various affirmative and negative covenants as well as maintain certain financial targets and ratios during the term of the facility, including IDT Telecom may not pay any dividend on its capital stock.

Other Sources and Uses of Resources

We intend to, where appropriate, make strategic investments and acquisitions to complement, expand, and/or enter into new businesses. In considering acquisitions and investments, we search for opportunities to profitably grow our existing businesses and/or to add qualitatively to the range and diversification of businesses in our portfolio. At this time, we cannot guarantee that we will be presented with acquisition opportunities that meet our return on investment criteria, or that our efforts to make acquisitions that meet our criteria will be successful.

Contractual Obligations and Other Commercial Commitments

Smaller reporting companies are not required to provide the information required by this item.

Off-Balance Sheet Arrangements

We do not have any “off-balance sheet arrangements,” as defined in relevant SEC regulations that are reasonably likely to have a current or future effect on our financial condition, results of operations, liquidity, capital expenditures or capital resources, other than the following.

In connection with the Rafael Spin-Off in March 2018, we and Rafael entered into various agreements prior to the spin-off including a Separation and Distribution Agreement to effect the separation and provide a framework for our relationship with Rafael after the spin-off, and a Tax Separation Agreement, which sets forth the responsibilities of us and Rafael with respect to, among other things, liabilities for federal, state, local and foreign taxes for periods before and including the spin-off, the preparation and filing of tax returns for such periods and disputes with taxing authorities regarding taxes for such periods. Pursuant to the Separation and Distribution Agreement, we indemnify Rafael and Rafael indemnifies us for losses related to the failure of the other to pay, perform or otherwise discharge, any of the liabilities and obligations set forth in the agreement. Pursuant to the Tax Separation Agreement, we indemnify Rafael from all liability for taxes of ours, other than Rafael and its subsidiaries, for any taxable period, and from all liability for taxes due to the spin-off.

In connection with our spin-off of Straight Path, in July 2013, we and Straight Path entered into various agreements prior to the spin-off including a Separation and Distribution Agreement to effect the separation and provide a framework for our relationship with Straight Path after the spin-off, and a Tax Separation Agreement, which sets forth the responsibilities of us and Straight Path with respect to, among other things, liabilities for federal, state, local and foreign taxes for periods before and including the spin-off, the preparation and filing of tax returns for such periods and disputes with taxing authorities regarding taxes for such periods. Pursuant to the Separation and Distribution Agreement, we indemnify Straight Path and Straight Path indemnifies us for losses related to the failure of the other to pay, perform or otherwise discharge, any of the liabilities and obligations set forth in the agreement. Pursuant to the Tax Separation Agreement, we indemnify Straight Path from all liability for taxes of Straight Path or any of its subsidiaries or relating to the Straight Path business with respect to taxable periods ending on or before the spin-off, from all liability for taxes of ours, other than Straight Path and its subsidiaries, for any taxable period, and from all liability for taxes due to the spin-off. (See Note 15 to the Consolidated Financial Statements included in Item 1 to Part I of this Quarterly Report on Form 10-Q).

We have performance bonds issued through third parties for the benefit of various states in order to comply with the states’ financial requirements for money remittance licenses and telecommunications resellers. At October 31, 2019, we had aggregate performance bonds of $17.5 million outstanding.

Item 3. Quantitative and Qualitative Disclosures About Market Risks

Smaller reporting companies are not required to provide the information required by this item.

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures. Our Chief Executive Officer and Chief Financial Officer have evaluated the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934, as amended), as of the end of the period covered by this Quarterly Report on Form 10-Q. Based on this evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that our disclosure controls and procedures were not effective as of October 31, 2019 because of a material weakness in our internal control over financial reporting relating to management review controls associated with non-income related taxes related to one of our foreign entities. This material weakness was initially identified as of July 31, 2019 (see Item 9A to Part II of our Annual Report on Form 10-K for fiscal year ended July 31, 2019).

Remediation. As set forth below, following our Audit Committee’s independent review, management plans to take the following steps to remediate the material weakness identified above and improve our internal control over financial reporting:

●

Explore engaging an independent third party to assist in our evaluation of all non-income related taxes, relating to material foreign subsidiaries;

●

Provide additional outside training to employees responsible for tax compliance; and

●

Enhance internal documentation support related to our tax position.

Management and our Audit Committee will monitor these remedial measures and the effectiveness of our internal controls and procedures.

Notwithstanding the material weakness described above, we have performed additional analyses and other procedures to enable management to conclude that our financial statements included in this Form 10-Q fairly present, in all material respects, our financial condition and results of operations as of and for the three months ended October 31, 2019.

Changes in Internal Control over Financial Reporting. There were no changes in our internal control over financial reporting during the quarter ended October 31, 2019 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II. OTHER INFORMATION

Item 1. Legal Proceedings

Legal proceedings in which we are involved are more fully described in Note 15 to the Consolidated Financial Statements included in Item 1 to Part I of this Quarterly Report on Form 10-Q.

Item 1A. Risk Factors

There are no material changes from the risk factors previously disclosed in Item 1A to Part I of our Annual Report on Form 10-K for the fiscal year ended July 31, 2019.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

The following table provides information with respect to purchases by us of our shares during the first quarter of fiscal 2020:

	Total Number of Shares Purchased		Average Price per Share		Total Number of Shares Purchased as part of Publicly Announced Plans or Programs		Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs (1)
August 1-31, 2019		—	$	—		—		6,903,406
September 1–30, 2019		—	$	—		—		6,903,406
October 1–31, 2019		—	$	—		—		6,903,406
Total		—	$	—		—

(1)

On January 22, 2016, our Board of Directors approved a stock repurchase program to purchase up to 8.0 million shares of our Class B common stock.

Item 3. Defaults Upon Senior Securities

None

Item 4. Mine Safety Disclosures

Not applicable

Item 5. Other Information

None

Item 6. Exhibits

Exhibit Number		Description

31.1*		Certification of Chief Executive Officer pursuant to 17 CFR 240.13a-14(a), as adopted pursuant to §302 of the Sarbanes-Oxley Act of 2002.

31.2*		Certification of Chief Financial Officer pursuant to 17 CFR 240.13a-14(a), as adopted pursuant to §302 of the Sarbanes-Oxley Act of 2002.

32.1*		Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to §906 of the Sarbanes-Oxley Act of 2002.

32.2*		Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to §906 of the Sarbanes-Oxley Act of 2002.

101.INS*		XBRL Instance Document

101.SCH*		XBRL Taxonomy Extension Schema Document

101.CAL*		XBRL Taxonomy Extension Calculation Linkbase Document

101.DEF*		XBRL Taxonomy Extension Definition Linkbase Document

101.LAB*		XBRL Taxonomy Extension Label Linkbase Document

101.PRE*		XBRL Taxonomy Extension Presentation Linkbase Document

Filed or furnished herewith.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	IDT Corporation

December 10, 2019	By:	/s/ Shmuel Jonas
		Shmuel Jonas Chief Executive Officer

December 10, 2019	By:	/s/ Marcelo fischer
		Marcelo Fischer Chief Financial Officer

EX-31.1 2 f10q1019ex31-1_idtcorp.htm CERTIFICATION

EXHIBIT 31.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER

PURSUANT TO EXCHANGE ACT RULE 13a-14(a)/15d-14(a)
AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Shmuel Jonas, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of IDT Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this Report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: December 10, 2019

/s/ Shmuel Jonas

Shmuel Jonas

Chief Executive Officer

EX-31.2 3 f10q1019ex31-2_idtcorp.htm CERTIFICATION

EXHIBIT 31.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER

PURSUANT TO EXCHANGE ACT RULE 13a-14(a)/15d-14(a)
AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Marcelo Fischer, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of IDT Corporation;

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: December 10, 2019

/s/ Marcelo fischer

Marcelo Fischer

Chief Financial Officer

EX-32.1 4 f10q1019ex32-1_idtcorp.htm CERTIFICATION

EXHIBIT 32.1

Certification Pursuant to
18 U.S.C. Section 1350
(as Adopted Pursuant to Section 906 of
the Sarbanes-Oxley Act Of 2002)

In connection with the Quarterly Report of IDT Corporation (the “Company”) on Form 10-Q for the quarter ended October 31, 2019 as filed with the Securities and Exchange Commission (the “Report”), I, Shmuel Jonas, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to my knowledge:

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: December 10, 2019

/s/ Shmuel Jonas

Shmuel Jonas

Chief Executive Officer

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to IDT Corporation and will be retained by IDT Corporation and furnished to the Securities and Exchange Commission or its staff upon request.

EX-32.2 5 f10q1019ex32-2_idtcorp.htm CERTIFICATION

EXHIBIT 32.2

Certification Pursuant to
18 U.S.C. Section 1350
(as Adopted Pursuant to Section 906 of
the Sarbanes-Oxley Act Of 2002)

In connection with the Quarterly Report of IDT Corporation (the “Company”) on Form 10-Q for the quarter ended October 31, 2019 as filed with the Securities and Exchange Commission (the “Report”), I, Marcelo Fischer, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to my knowledge:

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: December 10, 2019

/s/ Marcelo Fischer

Marcelo Fischer

Chief Financial Officer

EX-101.INS 6 idt-20191031.xml XBRL INSTANCE FILE 0001005731 2018-07-31 0001005731 us-gaap:CommonClassBMember 2019-10-31 0001005731 us-gaap:CommonClassAMember 2019-07-31 0001005731 us-gaap:NoncontrollingInterestMember 2018-07-31 0001005731 srt:ParentCompanyMember us-gaap:CommonClassAMember 2018-07-31 0001005731 srt:ParentCompanyMember us-gaap:CommonClassBMember 2018-07-31 0001005731 us-gaap:AccumulatedOtherComprehensiveIncomeMember srt:ParentCompanyMember 2018-07-31 0001005731 idt:TelecomOperatorMember 2017-08-31 0001005731 2019-07-31 0001005731 us-gaap:CertificatesOfDepositMember 2019-07-31 0001005731 us-gaap:MunicipalBondsMember 2019-07-31 0001005731 idt:ZedgeIncMember us-gaap:CommonClassBMember 2019-07-31 0001005731 idt:RafaelSpinOffMember us-gaap:CommonClassBMember 2019-07-31 0001005731 us-gaap:SeriesBPreferredStockMember 2019-07-31 0001005731 us-gaap:OtherInvestmentsMember 2019-07-31 0001005731 us-gaap:EquityMethodInvestmentsMember 2018-07-31 0001005731 us-gaap:EquityMethodInvestmentsMember 2019-07-31 0001005731 idt:VisaSeriesCConvertibleParticipatingPreferredStockMember 2016-06-30 0001005731 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2019-07-31 0001005731 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2019-07-31 0001005731 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2019-07-31 0001005731 us-gaap:FairValueInputsLevel3Member 2018-07-31 0001005731 us-gaap:FairValueInputsLevel3Member 2019-07-31 0001005731 2018-10-31 0001005731 us-gaap:CommonClassBMember 2019-07-31 0001005731 us-gaap:AccumulatedTranslationAdjustmentMember 2019-07-31 0001005731 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2019-07-31 0001005731 idt:AccumulatedOtherComprehensiveMember 2019-07-31 0001005731 us-gaap:CommonClassAMember 2019-10-31 0001005731 2018-08-01 2018-10-31 0001005731 us-gaap:AdditionalPaidInCapitalMember srt:ParentCompanyMember 2018-07-31 0001005731 us-gaap:TreasuryStockMember srt:ParentCompanyMember 2018-07-31 0001005731 us-gaap:RetainedEarningsMember srt:ParentCompanyMember 2018-07-31 0001005731 srt:ParentCompanyMember us-gaap:CommonClassAMember 2019-07-31 0001005731 srt:ParentCompanyMember us-gaap:CommonClassBMember 2019-07-31 0001005731 us-gaap:AdditionalPaidInCapitalMember srt:ParentCompanyMember 2019-07-31 0001005731 us-gaap:TreasuryStockMember srt:ParentCompanyMember 2019-07-31 0001005731 us-gaap:AccumulatedOtherComprehensiveIncomeMember srt:ParentCompanyMember 2019-07-31 0001005731 us-gaap:RetainedEarningsMember srt:ParentCompanyMember 2019-07-31 0001005731 us-gaap:NoncontrollingInterestMember 2019-07-31 0001005731 2018-09-01 2018-09-14 0001005731 2018-09-14 0001005731 us-gaap:CommonClassBMember idt:ZedgeIncMember 2018-08-01 2019-07-31 0001005731 us-gaap:CommonClassBMember idt:RafaelHoldingsIncMember 2018-08-01 2019-07-31 0001005731 us-gaap:HedgeFundsMember 2019-07-31 0001005731 us-gaap:MutualFundMember 2019-07-31 0001005731 srt:ScenarioPreviouslyReportedMember 2018-08-01 2018-10-31 0001005731 srt:RestatementAdjustmentMember 2018-08-01 2018-10-31 0001005731 idt:ErrorCorrectionMember 2018-08-01 2018-10-31 0001005731 2019-10-31 0001005731 2019-08-01 2019-10-31 0001005731 srt:ParentCompanyMember us-gaap:CommonClassAMember 2019-10-31 0001005731 srt:ParentCompanyMember us-gaap:CommonClassBMember 2019-08-01 2019-10-31 0001005731 srt:ParentCompanyMember us-gaap:CommonClassBMember 2019-10-31 0001005731 us-gaap:AdditionalPaidInCapitalMember srt:ParentCompanyMember 2019-08-01 2019-10-31 0001005731 us-gaap:AdditionalPaidInCapitalMember srt:ParentCompanyMember 2019-10-31 0001005731 us-gaap:TreasuryStockMember srt:ParentCompanyMember 2019-08-01 2019-10-31 0001005731 us-gaap:TreasuryStockMember srt:ParentCompanyMember 2019-10-31 0001005731 us-gaap:AccumulatedOtherComprehensiveIncomeMember srt:ParentCompanyMember 2019-08-01 2019-10-31 0001005731 us-gaap:AccumulatedOtherComprehensiveIncomeMember srt:ParentCompanyMember 2019-10-31 0001005731 us-gaap:RetainedEarningsMember srt:ParentCompanyMember 2019-08-01 2019-10-31 0001005731 us-gaap:RetainedEarningsMember srt:ParentCompanyMember 2019-10-31 0001005731 us-gaap:NoncontrollingInterestMember 2019-08-01 2019-10-31 0001005731 us-gaap:NoncontrollingInterestMember 2019-10-31 0001005731 srt:ParentCompanyMember us-gaap:CommonClassAMember 2018-08-01 2018-10-31 0001005731 srt:ParentCompanyMember us-gaap:CommonClassAMember 2018-10-31 0001005731 srt:ParentCompanyMember us-gaap:CommonClassBMember 2018-08-01 2018-10-31 0001005731 srt:ParentCompanyMember us-gaap:CommonClassBMember 2018-10-31 0001005731 us-gaap:AdditionalPaidInCapitalMember srt:ParentCompanyMember 2018-08-01 2018-10-31 0001005731 us-gaap:AdditionalPaidInCapitalMember srt:ParentCompanyMember 2018-10-31 0001005731 us-gaap:TreasuryStockMember srt:ParentCompanyMember 2018-08-01 2018-10-31 0001005731 us-gaap:TreasuryStockMember srt:ParentCompanyMember 2018-10-31 0001005731 us-gaap:AccumulatedOtherComprehensiveIncomeMember srt:ParentCompanyMember 2018-08-01 2018-10-31 0001005731 us-gaap:AccumulatedOtherComprehensiveIncomeMember srt:ParentCompanyMember 2018-10-31 0001005731 us-gaap:RetainedEarningsMember srt:ParentCompanyMember 2018-08-01 2018-10-31 0001005731 us-gaap:RetainedEarningsMember srt:ParentCompanyMember 2018-10-31 0001005731 us-gaap:NoncontrollingInterestMember 2018-08-01 2018-10-31 0001005731 us-gaap:NoncontrollingInterestMember 2018-10-31 0001005731 idt:BossRevolutionCallingMember idt:TelecomAndPaymentServiceMember 2019-08-01 2019-10-31 0001005731 idt:BossRevolutionCallingMember idt:TelecomAndPaymentServiceMember 2018-08-01 2018-10-31 0001005731 idt:WholesaleCarrierServicesMember idt:TelecomAndPaymentServiceMember 2018-08-01 2018-10-31 0001005731 idt:WholesaleCarrierServicesMember idt:TelecomAndPaymentServiceMember 2019-08-01 2019-10-31 0001005731 idt:MobileTopUpMember idt:TelecomAndPaymentServiceMember 2018-08-01 2018-10-31 0001005731 idt:MobileTopUpMember idt:TelecomAndPaymentServiceMember 2019-08-01 2019-10-31 0001005731 idt:TotalTelecomAndPaymentServicesOtherMember idt:TelecomAndPaymentServiceMember 2018-08-01 2018-10-31 0001005731 idt:TotalTelecomAndPaymentServicesOtherMember idt:TelecomAndPaymentServiceMember 2019-08-01 2019-10-31 0001005731 idt:TotalTelecomAndPaymentServicesGrowthMember idt:TelecomAndPaymentServiceMember 2018-08-01 2018-10-31 0001005731 idt:TotalTelecomAndPaymentServicesGrowthMember idt:TelecomAndPaymentServiceMember 2019-08-01 2019-10-31 0001005731 idt:NetTwoPhoneUnifiedCommunicationsAsServiceMember idt:NetTwoPhoneUnifiedCommunicationsAsServiceSegmentMember 2019-08-01 2019-10-31 0001005731 idt:Net2PhonePlatformServicesMember idt:NetTwoPhoneUnifiedCommunicationsAsServiceSegmentMember 2019-08-01 2019-10-31 0001005731 idt:NetTwoPhoneUnifiedCommunicationsAsServiceSegmentMember 2018-08-01 2018-10-31 0001005731 idt:NetTwoPhoneUnifiedCommunicationsAsServiceSegmentMember 2019-08-01 2019-10-31 0001005731 idt:NetTwoPhoneUnifiedCommunicationsAsServiceMember idt:NetTwoPhoneUnifiedCommunicationsAsServiceSegmentMember 2018-08-01 2018-10-31 0001005731 idt:TelecomAndPaymentServiceMember 2018-08-01 2018-10-31 0001005731 idt:TelecomAndPaymentServiceMember 2019-08-01 2019-10-31 0001005731 idt:Net2PhonePlatformServicesMember idt:NetTwoPhoneUnifiedCommunicationsAsServiceSegmentMember 2018-08-01 2018-10-31 0001005731 country:US 2018-08-01 2018-10-31 0001005731 country:US 2019-08-01 2019-10-31 0001005731 country:GB 2018-08-01 2018-10-31 0001005731 country:GB 2019-08-01 2019-10-31 0001005731 country:NL 2018-08-01 2018-10-31 0001005731 country:NL 2019-08-01 2019-10-31 0001005731 country:US idt:TelecomAndPaymentServiceMember 2018-08-01 2018-10-31 0001005731 country:US idt:TelecomAndPaymentServiceMember 2019-08-01 2019-10-31 0001005731 country:US idt:NetTwoPhoneUnifiedCommunicationsAsServiceSegmentMember 2018-08-01 2018-10-31 0001005731 country:US idt:NetTwoPhoneUnifiedCommunicationsAsServiceSegmentMember 2019-08-01 2019-10-31 0001005731 country:GB idt:TelecomAndPaymentServiceMember 2018-08-01 2018-10-31 0001005731 country:GB idt:TelecomAndPaymentServiceMember 2019-08-01 2019-10-31 0001005731 country:GB idt:NetTwoPhoneUnifiedCommunicationsAsServiceSegmentMember 2018-08-01 2018-10-31 0001005731 country:GB idt:NetTwoPhoneUnifiedCommunicationsAsServiceSegmentMember 2019-08-01 2019-10-31 0001005731 country:NL idt:TelecomAndPaymentServiceMember 2018-08-01 2018-10-31 0001005731 country:NL idt:TelecomAndPaymentServiceMember 2019-08-01 2019-10-31 0001005731 country:NL idt:NetTwoPhoneUnifiedCommunicationsAsServiceSegmentMember 2018-08-01 2018-10-31 0001005731 country:NL idt:NetTwoPhoneUnifiedCommunicationsAsServiceSegmentMember 2019-08-01 2019-10-31 0001005731 idt:OtherCountriesMember idt:TelecomAndPaymentServiceMember 2018-08-01 2018-10-31 0001005731 idt:OtherCountriesMember idt:TelecomAndPaymentServiceMember 2019-08-01 2019-10-31 0001005731 idt:OtherCountriesMember 2018-08-01 2018-10-31 0001005731 idt:OtherCountriesMember 2019-08-01 2019-10-31 0001005731 idt:OtherCountriesMember idt:NetTwoPhoneUnifiedCommunicationsAsServiceSegmentMember 2018-08-01 2018-10-31 0001005731 idt:OtherCountriesMember idt:NetTwoPhoneUnifiedCommunicationsAsServiceSegmentMember 2019-08-01 2019-10-31 0001005731 idt:ContractLiabilitiesMember 2018-08-01 2018-10-31 0001005731 idt:ContractLiabilitiesMember 2019-08-01 2019-10-31 0001005731 us-gaap:CertificatesOfDepositMember 2019-10-31 0001005731 idt:ZedgeIncMember us-gaap:CommonClassBMember 2019-10-31 0001005731 idt:RafaelSpinOffMember us-gaap:CommonClassBMember 2019-10-31 0001005731 us-gaap:MutualFundMember 2019-10-31 0001005731 us-gaap:SeriesBPreferredStockMember 2019-10-31 0001005731 us-gaap:HedgeFundsMember 2019-10-31 0001005731 us-gaap:OtherInvestmentsMember 2019-10-31 0001005731 us-gaap:EquityMethodInvestmentsMember 2019-08-01 2019-10-31 0001005731 us-gaap:EquityMethodInvestmentsMember 2018-08-01 2018-10-31 0001005731 us-gaap:EquityMethodInvestmentsMember 2019-10-31 0001005731 us-gaap:EquityMethodInvestmentsMember 2018-10-31 0001005731 us-gaap:CommonClassBMember idt:ZedgeIncMember 2019-08-01 2019-10-31 0001005731 us-gaap:CommonClassBMember idt:RafaelHoldingsIncMember 2019-08-01 2019-10-31 0001005731 idt:VisaSeriesCConvertibleParticipatingPreferredStockMember 2019-10-31 0001005731 idt:VisaSeriesCConvertibleParticipatingPreferredStockMember 2018-10-31 0001005731 idt:VisaSeriesCConvertibleParticipatingPreferredStockMember 2019-08-01 2019-10-31 0001005731 idt:VisaSeriesCConvertibleParticipatingPreferredStockMember 2018-08-01 2018-10-31 0001005731 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2019-10-31 0001005731 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2019-10-31 0001005731 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2019-10-31 0001005731 us-gaap:FairValueInputsLevel3Member 2019-08-01 2019-10-31 0001005731 us-gaap:FairValueInputsLevel3Member 2018-08-01 2018-10-31 0001005731 us-gaap:FairValueInputsLevel3Member 2019-10-31 0001005731 us-gaap:FairValueInputsLevel3Member 2018-10-31 0001005731 idt:StraightPathMember 2019-08-01 2019-10-31 0001005731 idt:StraightPathMember 2018-08-01 2018-10-31 0001005731 us-gaap:CommonClassBMember idt:TwoThousandFifteenStockOptionAndIncentivePlanMember 2017-08-01 2017-10-31 0001005731 us-gaap:EmployeeStockOptionMember 2019-08-01 2019-10-31 0001005731 us-gaap:EmployeeStockOptionMember 2018-08-01 2018-10-31 0001005731 idt:NonvestedRestrictedClassBCommonStockMember 2019-08-01 2019-10-31 0001005731 idt:NonvestedRestrictedClassBCommonStockMember 2018-08-01 2018-10-31 0001005731 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2019-08-01 2019-10-31 0001005731 us-gaap:AccumulatedTranslationAdjustmentMember 2019-08-01 2019-10-31 0001005731 idt:AccumulatedOtherComprehensiveMember 2019-08-01 2019-10-31 0001005731 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2019-10-31 0001005731 us-gaap:AccumulatedTranslationAdjustmentMember 2019-10-31 0001005731 idt:AccumulatedOtherComprehensiveMember 2019-10-31 0001005731 us-gaap:OperatingSegmentsMember idt:TelecomAndPaymentServicesMember 2018-08-01 2018-10-31 0001005731 us-gaap:OperatingSegmentsMember idt:TelecomAndPaymentServicesMember 2019-08-01 2019-10-31 0001005731 us-gaap:OperatingSegmentsMember idt:Net2phoneMember 2019-08-01 2019-10-31 0001005731 us-gaap:OperatingSegmentsMember idt:Net2phoneMember 2018-08-01 2018-10-31 0001005731 us-gaap:OperatingSegmentsMember us-gaap:CorporateMember 2019-08-01 2019-10-31 0001005731 us-gaap:OperatingSegmentsMember us-gaap:CorporateMember 2018-08-01 2018-10-31 0001005731 us-gaap:OperatingSegmentsMember 2018-08-01 2018-10-31 0001005731 us-gaap:OperatingSegmentsMember 2019-08-01 2019-10-31 0001005731 us-gaap:CommonClassBMember 2018-08-01 2018-10-31 0001005731 us-gaap:CommonClassBMember idt:TwoThousandFifteenStockOptionAndIncentivePlanMember 2019-09-01 2019-09-12 0001005731 us-gaap:AccountingStandardsUpdate201602Member 2019-08-01 2019-10-31 0001005731 srt:ParentCompanyMember us-gaap:CommonClassAMember 2019-08-01 2019-10-31 0001005731 idt:IDTFinancialServicesLimitedMember 2019-10-31 0001005731 idt:IDTFinancialServicesLimitedMember 2019-07-31 0001005731 us-gaap:CommonClassAMember 2019-12-06 0001005731 us-gaap:CommonClassBMember 2019-12-06 iso4217:USD xbrli:shares iso4217:USD xbrli:shares idt:Segment xbrli:pure

11209000

11214000

443703000

459037000

273313000

274953000

-4858000

-6062000

31303000

639000

33000

256000

-4972000

53557000

36284000

294047000

-85597000

-173103000

33000

258000

273313000

-51739000

-4858000

-160763000

-2687000

52331000

33000

258000

274953000

-51739000

-6062000

-162276000

-2836000

33000

256000

294460000

-89451000

-4417000

-165198000

601000

362316000

340245000

116242000

123513000

142222000

113517000

65346000

76815000

14757000

11244000

6011000

9800000

7221000

5406000

10467000

12627000

4805000

351849000

327618000

5662000

239554000

227187000

231624000

218655000

7930000

8532000

351849000

327618000

12627000

10467000

362316000

340245000

5594000

5295000

626000

182000

-1392000

4169000

4372000

-3263000

-1500000

-2501000

-2487000

182000

-1392000

-1059000

-886000

-1998000

-1148000

-1998000

-850000

-1422000

-1513000

91000

-2299000

301000

-2299000

-1449000

-2299000

-850000

-1513000

-0.06

-0.10

-0.04

-0.06

-0.10

-0.04

413000

1364000

522000

-1204000

522000

-1204000

1173000

33000

1140000

177031000

190218000

190100000

176800000

2534000

2234000

300000

9894000

2534000

2234000

300000

2534000

9894000

3400000

800000

1213000

12400000

18000

22000

18000

22000

1830

13.886

11841000

5688000

2534000

3619000

19241000

5710000

9894000

3637000

5500000 5500000

8000000

729110

3900000

6900000

9319000

3619000

225000

5475000

9337000

3637000

5475000

225000

4589000

4110000

127834000

121058000

258000

33000

258000

33000

-160763000

-162276000

5444000

5675000

0.01

200000

35000

200000

35000

25836

3272

25803

3272

24928

1574

24895

1574

908

1698

908

1698

44700000

42100000

9200000

30700000

26500000

17500000 42282 27419 42282 27419

5900000

1.00

301000

91000

700000

200000

122762000 113058000 2537000 4095000 120225000 108963000 50480000 35797000 50922000 54942000 50472000 35793000 8000 4000 50922000 54942000 18831000 18228000 21360000 22319000 2529000 4091000

939000

-1189000

-939000

250000

536000

5688000 5688000 5710000 5710000 3619000 3619000 3637000 3637000

28506000

29112000

551000

5688000

68000

567000

5053000

5710000

74000

476000

5160000

304693000

279461000

-1295000

-195000

-1295000

-1100000

-2775000

-1100000

-2150000

-365000

-260000

-195000

-1295000

-2775000

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 notes 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 months ended October 31, 2019 are not necessarily indicative of the results that may be expected for the fiscal year ending July 31, 2020. The balance sheet at July 31, 2019 has been derived from the Company's audited financial statements at that date but does not include all of the information and notes 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 fiscal year ended July 31, 2019, 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 2020 refers to the fiscal year ending July 31, 2020).

368461000

373741000

24704000

26964000

20276000

27809000

58060000

50963000

2534000

9894000

80168000

62183000

11574000

12054000

11597000

4196000

4110000

34355000

32874000

390146000

406706000

1076000

977000

9335000

389070000

396394000

6652000

9180000

175028000

188258000

42479000

40739000

37077000

37159000

443703000

459037000

-2687000

-2836000

56244000

55167000

51739000

IDT CORP 0001005731 false --07-31 10-Q 2019-10-31 2020 Q1 Yes Accelerated Filer true false false false 1-16371 Yes DE

-1349000

234000

108000

272000

360839000

338862000

50552000

53480000

23831

26279

-0.1

-0.06

-1777000

-2717000

301000

91000

-1476000

-2626000

524000

-1204000

-2000

447000

549000

1117000

479000

-46000

34000

8230000

-4977000

-1206000

-1798000

5567000

1793000

6919000

-10012000

8766000

9166000

-97000

-7975000

-6544000

-11264000

3372000

782000

8195000

5453000

4463000

3851000

203197000

257199000

195501000

252401000

-7696000

-4798000

-4590000

11426000

-4792000

17000

3854000

599000

19000

339000

240000

41540000

639000

33000

256000

-4939000

294047000

-85597000

-162899000

-3854000 -3854000 413000 1364000 1364000 413000 -339000 -240000 -240000 -339000

10000

1574326 24927890

711000

769000

58000

684000

0.0312

11752000

12713000

9894000

1883000

3919000

3937000

3118000

3919000 3096000

-46000 26000 -46000 26000

3619000

3637000

2816000

2794000

18000

22000

18000 22000

363200000

340245000

-2206000

-1422000

1292

1806

1190

1243

616

Note 17—Recently Issued Accounting Standard Not Yet Adopted   In June 2016, the Financial Accounting Standards Board issued Accounting Standards Update No. 2016-13, Financial Instruments—Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments, that changes the impairment model for most financial assets and certain other instruments. For receivables, loans and other instruments, entities will be required to use a new forward-looking current expected credit loss model that generally will result in the earlier recognition of allowance for losses. For available-for-sale debt securities with unrealized losses, entities will measure credit losses in a manner similar to current practice, except the losses will be recognized as allowances instead of reductions in the amortized cost of the securities. In addition, an entity will have to disclose significantly more information about allowances, credit quality indicators and past due securities. The new provisions will be applied as a cumulative-effect adjustment to retained earnings. The Company will adopt the new standard on August 1, 2023. The Company is evaluating the impact that the new standard will have on its consolidated financial statements.

-1205000

671000

-98000

-463000

400000

8000000

P4Y10M25D

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">Three Months Ended October 31, 2018</td><td style="padding: 0 0 1.5pt; font-weight: bold; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0 0 1.5pt; text-indent: 0"> </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">Previously Reported </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">Error Correction </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">As Adjusted </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="font-weight: bold; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td> <td colspan="10" style="font-weight: bold; text-align: center; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(in thousands, except per share data)</td><td style="font-weight: bold; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">Consolidated Statement of Operations:</td><td style="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td> <td colspan="10" style="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; padding: 0 0 4pt; text-indent: 0">Other operating expense		</td><td style="width: 1%; padding: 0 0 4pt; text-indent: 0"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(195</td><td style="width: 1%; padding: 0 0 4pt; text-align: left; text-indent: 0">)</td><td style="width: 1%; padding: 0 0 4pt; text-indent: 0"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(1,100</td><td style="width: 1%; padding: 0 0 4pt; text-align: left; text-indent: 0">)</td><td style="width: 1%; padding: 0 0 4pt; text-indent: 0"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(1,295</td><td style="width: 1%; padding: 0 0 4pt; text-align: left; text-indent: 0">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding: 0 0 4pt; text-indent: 0">Provision for income taxes		</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(1,189</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0">)</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">250</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0"> </td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(939</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding: 0 0 4pt; text-indent: 0">Net loss		</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(1,148</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0">)</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(850</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0">)</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(1,998</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding: 0 0 4pt; text-indent: 0">Net loss attributable to IDT Corporation	</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(1,449</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0">)</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(850</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0">)</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(2,299</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: normal; text-align: left; text-indent: 0; padding-left: 0; padding-top: 0; padding-right: 0">Loss per share attributable to IDT Corporation common stockholders:</td><td style="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td> <td style="text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td> <td style="text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td> <td style="text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0 0 4pt 0.125in; text-indent: 0">Basic		</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(0.06</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0">)</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(0.04</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0">)</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(0.10</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0 0 4pt 0.125in; text-indent: 0">Diluted		</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(0.06</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0">)</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(0.04</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0">)</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(0.10</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0">)</td></tr></table>

2417000

2776000

2637000

2438000

1996000

1880000

986000

8694000

1200000

13200000 9800000

-46000

26000

9064000 9064000

Note 2—Revenue Recognition   The Company earns revenue from contracts with customers, primarily through the provision of retail telecommunications and payment offerings as well as wholesale international long-distance traffic termination. The Company has two reportable business segments, Telecom & Payment Services and net2phone. The Telecom & Payment Services segment is comprised of Core and Growth verticals. Core includes BOSS Revolution Calling, an international long-distance calling service marketed primarily to immigrant communities in the United States, Carrier Services, which provides international long-distance termination and outsourced traffic management solutions to telecoms worldwide, and Mobile Top-Up, which enables customers to transfer airtime and bundles of airtime, messaging and data credits to mobile accounts internationally and domestically. Core also includes smaller communications and payment offerings, many in harvest mode. Growth includes National Retail Solutions, which operates a point-of-sale terminal-based network for retailers, BOSS Revolution Money Transfer, an international money remittance service for customers in the United States, and BOSS Revolution Mobile, a mobile virtual network operator in the United States. The net2phone segment is comprised of net2phone-Unified Communications as a Service ("UCaaS"), a unified cloud-based communications service for businesses in North and South America and certain other international markets, and net2phone-Platform Services, which provides telephony services to cable operators and other businesses by leveraging a common technology platform.   The Company's core operations are mostly minute-based, paid-voice communications services, and revenue is primarily recognized at a point in time. The Company's Telecom & Payment Services' growth initiatives and net2phone-UCaaS are technology-driven, synergistic businesses that leverage the Company's core assets, and revenue, in some cases, is recognized over time. The Company's most significant revenue streams are from BOSS Revolution Calling, Mobile Top-Up, and Carrier Services. BOSS Revolution Calling and Mobile Top-Up are sold direct-to-consumers and through distributors and retailers.   Disaggregated Revenues   The following table shows the Company's revenues disaggregated by business segment and service offered to customers:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Three Months Ended October 31, </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019 </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018 </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">(in thousands)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td>Core Operations:</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; padding-left: 0.125in">BOSS Revolution Calling</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">116,242</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">123,513</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 0.125in">Carrier Services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">113,517</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">142,222</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in">Mobile Top-Up</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">76,815</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">65,346</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in">Other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,244</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,757</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Growth</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">9,800</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">6,011</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in">Total Telecom & Payment Services</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">327,618</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">351,849</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>net2phone-UCaaS</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,221</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,805</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">net2phone-Platform Services</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,406</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,662</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; padding-left: 0in">Total net2phone</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">12,627</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">10,467</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 4pt; padding-left: 0.125in">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">340,245</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">362,316</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>   The following table shows the Company's revenues disaggregated by geographic region, which is determined based on selling location:   <table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Telecom & Payment Services</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">net2phone</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Three Months Ended October 31, 2019</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">United States</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">218,655</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">8,532</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">227,187</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Outside the United States:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in">United Kingdom</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,793</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,797</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in">Netherlands</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">54,942</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">54,942</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; padding-bottom: 1.5pt">Other</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; border-bottom: Black 1.5pt solid">18,228</td><td style="text-align: left; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; border-bottom: Black 1.5pt solid">4,091</td><td style="text-align: left; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; border-bottom: Black 1.5pt solid">22,319</td><td style="text-align: left; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 0.125in; padding-bottom: 1.5pt">Total outside the United States</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; border-bottom: Black 1.5pt solid">108,963</td><td style="text-align: left; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; border-bottom: Black 1.5pt solid">4,095</td><td style="text-align: left; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; border-bottom: Black 1.5pt solid">113,058</td><td style="text-align: left; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt"> </td> <td style="text-align: left; border-bottom: Black 4pt double">$</td><td style="text-align: right; border-bottom: Black 4pt double">327,618</td><td style="text-align: left; padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="text-align: left; border-bottom: Black 4pt double">$</td><td style="text-align: right; border-bottom: Black 4pt double">12,627</td><td style="text-align: left; padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="text-align: left; border-bottom: Black 4pt double">$</td><td style="text-align: right; border-bottom: Black 4pt double">340,245</td><td style="text-align: left; padding-bottom: 4pt"> </td></tr> </table>   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Telecom & Payment Services</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">net2phone</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Three Months Ended October 31, 2018</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">United States</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">231,624</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">7,930</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">239,554</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Outside the United States:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in">United Kingdom</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50,472</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50,480</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in">Netherlands</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50,922</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50,922</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; padding-left: 0.125in">Other</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; border-bottom: Black 1.5pt solid">18,831</td><td style="text-align: left; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; border-bottom: Black 1.5pt solid">2,529</td><td style="text-align: left; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; border-bottom: Black 1.5pt solid">21,360</td><td style="text-align: left; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in">Total outside the United States</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; border-bottom: Black 1.5pt solid">120,225</td><td style="text-align: left; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; border-bottom: Black 1.5pt solid">2,537</td><td style="text-align: left; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; border-bottom: Black 1.5pt solid">122,762</td><td style="text-align: left; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt"> </td> <td style="text-align: left; border-bottom: Black 4pt double">$</td><td style="text-align: right; border-bottom: Black 4pt double">351,849</td><td style="text-align: left; padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="text-align: left; border-bottom: Black 4pt double">$</td><td style="text-align: right; border-bottom: Black 4pt double">10,467</td><td style="text-align: left; padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="text-align: left; border-bottom: Black 4pt double">$</td><td style="text-align: right; border-bottom: Black 4pt double">362,316</td><td style="text-align: left; padding-bottom: 4pt"> </td></tr> </table>   Remaining Performance Obligations   The Company's revenue is generally recognized in the same period that its performance obligations are satisfied. The Company does not have any significant revenue from performance obligations satisfied or partially satisfied in previous reporting periods, or any significant portion of transaction price to be allocated to performance obligations that are unsatisfied (or partially unsatisfied) at the end of a reporting period.    Accounts Receivable and Contract Balances   The timing of revenue recognition may differ from the time of billing to the Company's customers. Trade accounts receivable in the Company's consolidated balance sheets represent unconditional rights to consideration. An entity records a contract asset when revenue is recognized in advance of the entity's right to bill and receive consideration. The Company has not identified any contract assets.   Contract liabilities arise when the Company receives consideration or bills its customers prior to providing the goods or services promised in the contract. The primary component of the Company's contract liability balance is the payments received for its prepaid BOSS Revolution Calling, traditional calling cards, and Mobile Top-Up services. Contract liabilities are recognized as revenue when services are provided to the customer. The contract liability balances are presented in the Company's consolidated balance sheet as "Deferred revenue".   The following table presents information about the Company's contract liability balance:   <table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Three Months Ended October 31, </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019 </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018 </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">(in thousands)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; padding-bottom: 4pt; text-indent: -0.25in; padding-left: 0.25in">Revenue recognized in the period from amounts included in the contract liability balance at the beginning of the period</td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">29,112</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">28,506</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td></tr> </table>   Deferred Customer Contract Acquisition and Fulfillment Costs   The Company incurs incremental costs of obtaining a customer contract, it does not incur direct costs to fulfill contracts. The Company's incremental costs of obtaining a customer contract are sales commissions paid to acquire customers. For Telecom & Payment Services, the Company applies the practical expedient whereby the Company primarily charges these costs to expense when incurred because the amortization period would be one year or less for the asset that would have been recognized from deferring these costs. For net2phone-UCaaS sales, employees and third parties receive commissions on sales to end users. The Company amortizes the deferred costs over the expected customer relationship period when it is expected to exceed one year.   The Company's deferred customer contract acquisition costs were as follows:   <table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding: 0 0 1.5pt; text-indent: 0"> </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td> <td colspan="2" style="font-weight: bold; text-align: center; padding-top: 0; padding-right: 0; border-bottom: Black 1.5pt solid; padding-left: 0; text-indent: 0">October 31, 2019 </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td> <td colspan="2" style="font-weight: bold; text-align: center; padding-top: 0; padding-right: 0; border-bottom: Black 1.5pt solid; padding-left: 0; text-indent: 0">July 31, 2019 </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0; text-indent: 0"> </td><td style="font-weight: bold; padding: 0; text-indent: 0"> </td> <td colspan="6" style="font-weight: bold; text-align: center; padding: 0; text-indent: 0">(in thousands)</td><td style="font-weight: bold; padding: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; text-indent: 0; padding: 0">Deferred customer contract acquisition costs included in "Other current assets"	</td><td style="width: 1%; padding: 0; text-indent: 0"> </td> <td style="width: 1%; text-align: left; padding: 0; text-indent: 0">$</td><td style="width: 9%; text-align: right; padding: 0; text-indent: 0">1,754</td><td style="width: 1%; text-align: left; padding: 0; text-indent: 0"> </td><td style="width: 1%; padding: 0; text-indent: 0"> </td> <td style="width: 1%; text-align: left; padding: 0; text-indent: 0">$</td><td style="width: 9%; text-align: right; padding: 0; text-indent: 0">1,474</td><td style="width: 1%; text-align: left; padding: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding: 0; text-indent: 0">Deferred customer contract acquisition costs included in "Other assets"	</td><td style="padding: 0; text-indent: 0"> </td> <td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: left; text-indent: 0"> </td><td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: right; text-indent: 0">1,916</td><td style="padding: 0; text-align: left; text-indent: 0"> </td><td style="padding: 0; text-indent: 0"> </td> <td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: left; text-indent: 0"> </td><td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: right; text-indent: 0">1,716</td><td style="padding: 0; text-align: left; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0 0 4pt 0.125in; text-indent: 0">Total	</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: left; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: right; text-indent: 0">3,670</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0"> </td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: left; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: right; text-indent: 0">3,190</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0"> </td></tr> </table>   The Company's amortization of deferred customer contract acquisition costs during the periods were as follows:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Three Months Ended October 31, </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019 </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018 </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">(in thousands)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; padding-bottom: 4pt; text-indent: -0.25in; padding-left: 0.25in">Amortization of deferred customer contract acquisition costs</td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">551</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">—</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td></tr></table>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Three Months Ended October 31, </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019 </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018 </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">(in thousands)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td>Core Operations:</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; padding-left: 0.125in">BOSS Revolution Calling</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">116,242</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">123,513</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 0.125in">Carrier Services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">113,517</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">142,222</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in">Mobile Top-Up</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">76,815</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">65,346</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in">Other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,244</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,757</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Growth</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">9,800</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">6,011</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in">Total Telecom & Payment Services</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">327,618</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">351,849</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>net2phone-UCaaS</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,221</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,805</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">net2phone-Platform Services</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,406</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,662</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; padding-left: 0in">Total net2phone</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">12,627</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">10,467</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 4pt; padding-left: 0.125in">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">340,245</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">362,316</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr></table>

<table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Telecom & Payment Services</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">net2phone</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Three Months Ended October 31, 2019</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">United States</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">218,655</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">8,532</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">227,187</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Outside the United States:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in">United Kingdom</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,793</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,797</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in">Netherlands</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">54,942</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">54,942</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; padding-bottom: 1.5pt">Other</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; border-bottom: Black 1.5pt solid">18,228</td><td style="text-align: left; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; border-bottom: Black 1.5pt solid">4,091</td><td style="text-align: left; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; border-bottom: Black 1.5pt solid">22,319</td><td style="text-align: left; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 0.125in; padding-bottom: 1.5pt">Total outside the United States</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; border-bottom: Black 1.5pt solid">108,963</td><td style="text-align: left; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; border-bottom: Black 1.5pt solid">4,095</td><td style="text-align: left; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; border-bottom: Black 1.5pt solid">113,058</td><td style="text-align: left; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt"> </td> <td style="text-align: left; border-bottom: Black 4pt double">$</td><td style="text-align: right; border-bottom: Black 4pt double">327,618</td><td style="text-align: left; padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="text-align: left; border-bottom: Black 4pt double">$</td><td style="text-align: right; border-bottom: Black 4pt double">12,627</td><td style="text-align: left; padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="text-align: left; border-bottom: Black 4pt double">$</td><td style="text-align: right; border-bottom: Black 4pt double">340,245</td><td style="text-align: left; padding-bottom: 4pt"> </td></tr> </table>   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Telecom & Payment Services</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">net2phone</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Three Months Ended October 31, 2018</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">United States</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">231,624</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">7,930</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">239,554</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Outside the United States:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in">United Kingdom</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50,472</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50,480</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in">Netherlands</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50,922</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50,922</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; padding-left: 0.125in">Other</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; border-bottom: Black 1.5pt solid">18,831</td><td style="text-align: left; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; border-bottom: Black 1.5pt solid">2,529</td><td style="text-align: left; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; border-bottom: Black 1.5pt solid">21,360</td><td style="text-align: left; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in">Total outside the United States</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; border-bottom: Black 1.5pt solid">120,225</td><td style="text-align: left; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; border-bottom: Black 1.5pt solid">2,537</td><td style="text-align: left; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; border-bottom: Black 1.5pt solid">122,762</td><td style="text-align: left; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt"> </td> <td style="text-align: left; border-bottom: Black 4pt double">$</td><td style="text-align: right; border-bottom: Black 4pt double">351,849</td><td style="text-align: left; padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="text-align: left; border-bottom: Black 4pt double">$</td><td style="text-align: right; border-bottom: Black 4pt double">10,467</td><td style="text-align: left; padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="text-align: left; border-bottom: Black 4pt double">$</td><td style="text-align: right; border-bottom: Black 4pt double">362,316</td><td style="text-align: left; padding-bottom: 4pt"> </td></tr></table>

<table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Three Months Ended October 31, </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019 </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018 </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">(in thousands)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; padding-bottom: 4pt; text-indent: -0.25in; padding-left: 0.25in">Revenue recognized in the period from amounts included in the contract liability balance at the beginning of the period</td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">29,112</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">28,506</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td></tr></table>

Note 4—Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents   The following table provides a reconciliation of cash, cash equivalents, and restricted cash and cash equivalents reported in the consolidated balance sheet that equals the total of the same amounts reported in the consolidated statement of cash flows:   <table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding: 0 0 1.5pt; text-indent: 0"> </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td> <td colspan="2" style="font-weight: bold; text-align: center; padding-top: 0; padding-right: 0; border-bottom: Black 1.5pt solid; padding-left: 0; text-indent: 0">October 31, 2019 </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td> <td colspan="2" style="font-weight: bold; text-align: center; padding-top: 0; padding-right: 0; border-bottom: Black 1.5pt solid; padding-left: 0; text-indent: 0">July 31, 2019 </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0; text-indent: 0"> </td><td style="font-weight: bold; padding: 0; text-indent: 0"> </td> <td colspan="6" style="font-weight: bold; text-align: center; padding: 0; text-indent: 0">(in thousands)</td><td style="font-weight: bold; padding: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; text-indent: 0; padding: 0">Cash and cash equivalents</td><td style="width: 1%; padding: 0; text-indent: 0"> </td> <td style="width: 1%; text-align: left; padding: 0; text-indent: 0">$</td><td style="width: 9%; text-align: right; padding: 0; text-indent: 0">62,183</td><td style="width: 1%; text-align: left; padding: 0; text-indent: 0"> </td><td style="width: 1%; padding: 0; text-indent: 0"> </td> <td style="width: 1%; text-align: left; padding: 0; text-indent: 0">$</td><td style="width: 9%; text-align: right; padding: 0; text-indent: 0">80,168</td><td style="width: 1%; text-align: left; padding: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding: 0; text-indent: 0">Restricted cash and cash equivalents</td><td style="padding: 0; text-indent: 0"> </td> <td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: left; text-indent: 0"> </td><td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: right; text-indent: 0">190,218</td><td style="padding: 0; text-align: left; text-indent: 0"> </td><td style="padding: 0; text-indent: 0"> </td> <td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: left; text-indent: 0"> </td><td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: right; text-indent: 0">177,031</td><td style="padding: 0; text-align: left; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding: 0 0 4pt 0.125in; text-indent: 0">Total cash, cash equivalents, and restricted cash and cash equivalents</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: left; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: right; text-indent: 0">252,401</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0"> </td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: left; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: right; text-indent: 0">257,199</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0"> </td></tr> </table>   At October 31, 2019 and July 31, 2019, restricted cash and cash equivalents included $190.1 million and $176.8 million, respectively, in restricted cash and cash equivalents held by IDT Financial Services Limited, the Company's Gibraltar-based bank.

Note 5—Debt Securities   The following is a summary of available-for-sale debt securities:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Amortized Cost </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Gross Unrealized Gains </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Gross Unrealized Losses </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Fair Value </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="14" style="font-weight: bold; text-align: center">(in thousands)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">October 31, 2019:</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; padding-bottom: 4pt; padding-left: 0.125in">Certificates of deposit*</td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; text-align: left; border-bottom: Black 4pt double">$</td><td style="width: 9%; text-align: right; border-bottom: Black 4pt double">9,894</td><td style="width: 1%; text-align: left; padding-bottom: 4pt"> </td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; text-align: left; border-bottom: Black 4pt double">$</td><td style="width: 9%; text-align: right; border-bottom: Black 4pt double">—</td><td style="width: 1%; text-align: left; padding-bottom: 4pt"> </td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; text-align: left; border-bottom: Black 4pt double">$</td><td style="width: 9%; text-align: right; border-bottom: Black 4pt double">—</td><td style="width: 1%; text-align: left; padding-bottom: 4pt"> </td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; text-align: left; border-bottom: Black 4pt double">$</td><td style="width: 9%; text-align: right; border-bottom: Black 4pt double">9,894</td><td style="width: 1%; text-align: left; padding-bottom: 4pt"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">July 31, 2019:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in">Certificates of deposit*</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,234</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,234</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in">Municipal bonds</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; border-bottom: Black 1.5pt solid">300</td><td style="text-align: left; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; border-bottom: Black 1.5pt solid">—</td><td style="text-align: left; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; border-bottom: Black 1.5pt solid">—</td><td style="text-align: left; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; border-bottom: Black 1.5pt solid">300</td><td style="text-align: left; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 4pt; padding-left: 0.25in">Total</td><td style="padding-bottom: 4pt"> </td> <td style="text-align: left; border-bottom: Black 4pt double">$</td><td style="text-align: right; border-bottom: Black 4pt double">2,534</td><td style="text-align: left; padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="text-align: left; border-bottom: Black 4pt double">$</td><td style="text-align: right; border-bottom: Black 4pt double">—</td><td style="text-align: left; padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="text-align: left; border-bottom: Black 4pt double">$</td><td style="text-align: right; border-bottom: Black 4pt double">—</td><td style="text-align: left; padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="text-align: left; border-bottom: Black 4pt double">$</td><td style="text-align: right; border-bottom: Black 4pt double">2,534</td><td style="text-align: left; padding-bottom: 4pt"> </td></tr> </table>   <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0"></td><td style="width: 0.25in; text-align: left">*</td><td style="text-align: left">Each of the Company's certificates of deposit has a CUSIP, was purchased in the secondary market through a broker, and may be sold in the secondary market.</td> </tr></table>   Proceeds from maturities and sales of debt securities and sales of equity investments were $0.8 million and $3.4 million in the three months ended October 31, 2019 and 2018, respectively. There were no realized gains or realized losses from sales of debt securities in the three months ended October 31, 2019 and 2018. The Company uses the specific identification method in computing the realized gains and realized losses on the sales of debt securities.    The contractual maturities of the Company's available-for-sale debt securities at October 31, 2019 were as follows:   <table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding: 0 0 1.5pt; text-indent: 0"> </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td> <td colspan="2" style="font-weight: bold; text-align: center; padding-top: 0; padding-right: 0; border-bottom: Black 1.5pt solid; padding-left: 0; text-indent: 0">Fair Value </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0; text-indent: 0"> </td><td style="padding: 0; text-indent: 0"> </td> <td colspan="2" style="text-align: center; padding: 0; text-indent: 0">(in thousands)</td><td style="padding: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: left; text-indent: 0; padding: 0">Within one year</td><td style="width: 1%; padding: 0; text-indent: 0"> </td> <td style="width: 1%; text-align: left; padding: 0; text-indent: 0">$</td><td style="width: 9%; text-align: right; padding: 0; text-indent: 0">8,694</td><td style="width: 1%; text-align: left; padding: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0; padding: 0">After one year through five years</td><td style="padding: 0; text-indent: 0"> </td> <td style="text-align: left; padding: 0; text-indent: 0"> </td><td style="text-align: right; padding: 0; text-indent: 0">1,200</td><td style="text-align: left; padding: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0; padding: 0">After five years through ten years</td><td style="padding: 0; text-indent: 0"> </td> <td style="text-align: left; padding: 0; text-indent: 0"> </td><td style="text-align: right; padding: 0; text-indent: 0">—</td><td style="text-align: left; padding: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding: 0; text-indent: 0">After ten years</td><td style="padding: 0; text-indent: 0"> </td> <td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: left; text-indent: 0"> </td><td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: right; text-indent: 0">—</td><td style="padding: 0; text-align: left; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0 0 4pt 0.125in; text-indent: 0; text-align: justify">Total</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: left; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: right; text-indent: 0">9,894</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0"> </td></tr></table>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Amortized Cost </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Gross Unrealized Gains </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Gross Unrealized Losses </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Fair Value </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="14" style="font-weight: bold; text-align: center">(in thousands)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">October 31, 2019:</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; padding-bottom: 4pt; padding-left: 0.125in">Certificates of deposit*</td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; text-align: left; border-bottom: Black 4pt double">$</td><td style="width: 9%; text-align: right; border-bottom: Black 4pt double">9,894</td><td style="width: 1%; text-align: left; padding-bottom: 4pt"> </td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; text-align: left; border-bottom: Black 4pt double">$</td><td style="width: 9%; text-align: right; border-bottom: Black 4pt double">—</td><td style="width: 1%; text-align: left; padding-bottom: 4pt"> </td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; text-align: left; border-bottom: Black 4pt double">$</td><td style="width: 9%; text-align: right; border-bottom: Black 4pt double">—</td><td style="width: 1%; text-align: left; padding-bottom: 4pt"> </td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; text-align: left; border-bottom: Black 4pt double">$</td><td style="width: 9%; text-align: right; border-bottom: Black 4pt double">9,894</td><td style="width: 1%; text-align: left; padding-bottom: 4pt"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">July 31, 2019:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in">Certificates of deposit*</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,234</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,234</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in">Municipal bonds</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; border-bottom: Black 1.5pt solid">300</td><td style="text-align: left; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; border-bottom: Black 1.5pt solid">—</td><td style="text-align: left; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; border-bottom: Black 1.5pt solid">—</td><td style="text-align: left; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left; border-bottom: Black 1.5pt solid"> </td><td style="text-align: right; border-bottom: Black 1.5pt solid">300</td><td style="text-align: left; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 4pt; padding-left: 0.25in">Total</td><td style="padding-bottom: 4pt"> </td> <td style="text-align: left; border-bottom: Black 4pt double">$</td><td style="text-align: right; border-bottom: Black 4pt double">2,534</td><td style="text-align: left; padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="text-align: left; border-bottom: Black 4pt double">$</td><td style="text-align: right; border-bottom: Black 4pt double">—</td><td style="text-align: left; padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="text-align: left; border-bottom: Black 4pt double">$</td><td style="text-align: right; border-bottom: Black 4pt double">—</td><td style="text-align: left; padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="text-align: left; border-bottom: Black 4pt double">$</td><td style="text-align: right; border-bottom: Black 4pt double">2,534</td><td style="text-align: left; padding-bottom: 4pt"> </td></tr> </table>   <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0"></td><td style="width: 0.25in; text-align: left">*</td><td style="text-align: left">Each of the Company's certificates of deposit has a CUSIP, was purchased in the secondary market through a broker, and may be sold in the secondary market.</td></tr></table>

Note 6—Equity Investments   Equity investments consist of the following:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">October 31, 2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">July 31, 2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">(in thousands)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Zedge, Inc. Class B common stock, 42,282 shares at October 31, 2019 and July 31, 2019	</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">74</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">68</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Rafael Holdings, Inc. Class B common stock, 27,419 shares at October 31, 2019 and July 31, 2019</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">476</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">567</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Mutual funds</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,160</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,053</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 4pt; padding-left: 0.125in">Current "Equity investments"</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">5,710</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">5,688</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Visa Inc. Series C Convertible Participating Preferred Stock ("Visa Series C Preferred")</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,637</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,619</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Hedge funds</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,475</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,475</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Other</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">225</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">225</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 4pt; padding-left: 0.125in">Noncurrent "Equity investments"</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">9,337</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">9,319</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>   On June 1, 2016, the Company completed a pro rata distribution of the common stock that the Company held in the Company's subsidiary Zedge, Inc. to the Company's stockholders of record as of the close of business on May 26, 2016. On March 26, 2018, the Company completed a pro rata distribution of the common stock that the Company held in the Company's subsidiary Rafael Holdings, Inc. ("Rafael") to the Company's stockholders of record as of the close of business on March 13, 2018. The Company received the Zedge and Rafael shares in connection with the lapsing of restrictions on Zedge and Rafael restricted stock held by certain of the Company's employees and the Company's payment of taxes related thereto.   In June 2016, upon the acquisition of Visa Europe Limited by Visa, Inc., IDT Financial Services Limited received 1,830 shares of Visa Series C Preferred among other consideration. Each share of Visa Series C Preferred is convertible into 13.886 shares of Visa Class A common stock, subject to certain conditions, starting in June 2020 and will be convertible at the holder's option beginning in June 2028.   The changes in the carrying value of the Company's equity investments without readily determinable fair values for which the Company elected the measurement alternative was as follows:   <table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">Three Months Ended October 31, </td><td style="padding: 0 0 1.5pt; font-weight: bold; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0 0 1.5pt; text-indent: 0"> </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td> <td colspan="2" style="font-weight: bold; text-align: center; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0; border-bottom: Black 1.5pt solid">2019 </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td> <td colspan="2" style="font-weight: bold; text-align: center; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0; border-bottom: Black 1.5pt solid">2018 </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="font-weight: bold; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td> <td colspan="6" style="font-weight: bold; text-align: center; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(in thousands)</td><td style="font-weight: bold; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-indent: 0; padding-left: 0; padding-top: 0; padding-right: 0">Balance, beginning of period	</td><td style="width: 1%; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td> <td style="width: 1%; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="width: 9%; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">3,919</td><td style="width: 1%; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="width: 1%; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td> <td style="width: 1%; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="width: 9%; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">1,883</td><td style="width: 1%; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding: 0 0 1.5pt; text-indent: 0">Adoption of change in accounting for equity investments	</td><td style="padding: 0 0 1.5pt; text-indent: 0"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">—</td><td style="padding: 0 0 1.5pt; text-align: left; text-indent: 0"> </td><td style="padding: 0 0 1.5pt; text-indent: 0"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">1,213</td><td style="padding: 0 0 1.5pt; text-align: left; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0; padding-left: 0; padding-top: 0; padding-right: 0">Adjusted balance	</td><td style="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td> <td style="text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">3,919</td><td style="text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td> <td style="text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">3,096</td><td style="text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0; padding-left: 0; padding-top: 0; padding-right: 0">Adjustment for observable transactions involving a similar investment from the same issuer	</td><td style="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td> <td style="text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">18</td><td style="text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td> <td style="text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">22</td><td style="text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0 0 1.5pt; text-indent: 0">Impairments	</td><td style="padding: 0 0 1.5pt; text-indent: 0"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">—</td><td style="padding: 0 0 1.5pt; text-align: left; text-indent: 0"> </td><td style="padding: 0 0 1.5pt; text-indent: 0"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">—</td><td style="padding: 0 0 1.5pt; text-align: left; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0 0 4pt; text-indent: 0">Balance, end of the period	</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">3,937</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0"> </td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">3,118</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0"> </td></tr> </table>   In the three months ended October 31, 2019 and 2018, the Company increased the carrying value of the 1,830 shares of Visa Series C Preferred it held by $18,000 and $22,000, respectively, based on the fair value of Visa Class A common stock and a discount for lack of current marketability.   Unrealized gains and losses for all equity investments included the following:   <table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding: 0 0 0 10pt; text-indent: -10pt"> </td><td style="font-weight: bold; padding: 0; text-indent: 0"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding: 0; text-indent: 0">Three Months Ended October 31, </td><td style="padding: 0; font-weight: bold; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0 0 0 10pt; text-indent: -10pt"> </td><td style="font-weight: bold; padding: 0; text-indent: 0"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding: 0; text-indent: 0">2019 </td><td style="font-weight: bold; padding: 0; text-indent: 0"> </td><td style="font-weight: bold; padding: 0; text-indent: 0"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding: 0; text-indent: 0">2018 </td><td style="font-weight: bold; padding: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0 0 0 10pt; text-indent: -10pt"> </td><td style="font-weight: bold; padding: 0; text-indent: 0"> </td> <td colspan="6" style="font-weight: bold; text-align: center; padding: 0; text-indent: 0">(in thousands)</td><td style="font-weight: bold; padding: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; text-indent: -10pt; padding: 0 0 0 10pt">Net gains (losses) recognized during the period on equity investments	</td><td style="width: 1%; padding: 0; text-indent: 0"> </td> <td style="width: 1%; text-align: left; padding: 0; text-indent: 0">$</td><td style="width: 9%; text-align: right; padding: 0; text-indent: 0">26</td><td style="width: 1%; text-align: left; padding: 0; text-indent: 0"> </td><td style="width: 1%; padding: 0; text-indent: 0"> </td> <td style="width: 1%; text-align: left; padding: 0; text-indent: 0">$</td><td style="width: 9%; text-align: right; padding: 0; text-indent: 0">(46</td><td style="width: 1%; text-align: left; padding: 0; text-indent: 0">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding: 0 0 0 10pt; text-indent: -10pt">Less: net gains and losses recognized during the period on equity investments sold during the period	</td><td style="padding: 0; text-indent: 0"> </td> <td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: left; text-indent: 0"> </td><td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: right; text-indent: 0">—</td><td style="padding: 0; text-align: left; text-indent: 0"> </td><td style="padding: 0; text-indent: 0"> </td> <td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: left; text-indent: 0"> </td><td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: right; text-indent: 0">—</td><td style="padding: 0; text-align: left; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding: 0 0 4pt 10pt; text-indent: -10pt">Unrealized gains (losses) recognized during the period on equity investments still held at the reporting date	</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: left; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: right; text-indent: 0">26</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0"> </td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: left; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: right; text-indent: 0">(46</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0">)</td></tr></table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">October 31, 2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">July 31, 2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">(in thousands)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Zedge, Inc. Class B common stock, 42,282 shares at October 31, 2019 and July 31, 2019	</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">74</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">68</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Rafael Holdings, Inc. Class B common stock, 27,419 shares at October 31, 2019 and July 31, 2019</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">476</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">567</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Mutual funds</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,160</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,053</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 4pt; padding-left: 0.125in">Current "Equity investments"</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">5,710</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">5,688</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Visa Inc. Series C Convertible Participating Preferred Stock ("Visa Series C Preferred")</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,637</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,619</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Hedge funds</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,475</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,475</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Other</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">225</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">225</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 4pt; padding-left: 0.125in">Noncurrent "Equity investments"</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">9,337</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">9,319</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr></table>

Note 7—Fair Value Measurements   The following tables present the balance of assets measured at fair value on a recurring basis:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 1 (1) </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 2 (2) </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 3 (3) </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="14" style="font-weight: bold; text-align: center">(in thousands)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">October 31, 2019</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Debt securities</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">9,894</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">9,894</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Equity investments included in current assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,710</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,710</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Equity investments included in noncurrent assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,637</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,637</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 4pt; padding-left: 0.125in">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">5,710</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">9,894</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">3,637</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">19,241</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">July 31, 2019</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Debt securities</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,534</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,534</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Equity investments included in current assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,688</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,688</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Equity investments included in noncurrent assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,619</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,619</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt; padding-left: 0.125in">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">5,688</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">2,534</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">3,619</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">11,841</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>   (1) – quoted prices in active markets for identical assets or liabilities (2) – observable inputs other than quoted prices in active markets for identical assets and liabilities (3) – no observable pricing inputs in the market   At October 31, 2019 and July 31, 2019, the Company had $5.5 million in investments in hedge funds, which were included in noncurrent "Equity investments" in the accompanying consolidated balance sheets. The Company's investments in hedge funds were accounted for using the equity method, therefore they were not measured at fair value.   At October 31, 2019 and July 31, 2019, the Company did not have any liabilities measured at fair value on a recurring basis.   The following table summarizes the change in the balance of the Company's assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3). There were no liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) in the three months ended October 31, 2019 and 2018.   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding: 0 0 0 10pt; text-indent: -10pt"> </td><td style="font-weight: bold; padding: 0; text-indent: 0"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding: 0; text-indent: 0">Three Months Ended October 31, </td><td style="padding: 0; font-weight: bold; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0 0 1.5pt 10pt; text-indent: -10pt"> </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td> <td colspan="2" style="font-weight: bold; text-align: center; padding-top: 0; padding-right: 0; border-bottom: Black 1.5pt solid; padding-left: 0; text-indent: 0">2019 </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td> <td colspan="2" style="font-weight: bold; text-align: center; padding-top: 0; padding-right: 0; border-bottom: Black 1.5pt solid; padding-left: 0; text-indent: 0">2018 </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0 0 0 10pt; text-indent: -10pt"> </td><td style="font-weight: bold; padding: 0; text-indent: 0"> </td> <td colspan="6" style="font-weight: bold; text-align: center; padding: 0; text-indent: 0">(in thousands)</td><td style="font-weight: bold; padding: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-indent: -10pt; padding: 0 0 0 10pt">Balance, beginning of period	</td><td style="width: 1%; padding: 0; text-indent: 0"> </td> <td style="width: 1%; text-align: left; padding: 0; text-indent: 0">$</td><td style="width: 9%; text-align: right; padding: 0; text-indent: 0">3,619</td><td style="width: 1%; text-align: left; padding: 0; text-indent: 0"> </td><td style="width: 1%; padding: 0; text-indent: 0"> </td> <td style="width: 1%; text-align: left; padding: 0; text-indent: 0">$</td><td style="width: 9%; text-align: right; padding: 0; text-indent: 0">—</td><td style="width: 1%; text-align: left; padding: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: -10pt; padding: 0 0 0 10pt">Transfer into Level 3 from adoption of change in accounting for equity investments	</td><td style="padding: 0; text-indent: 0"> </td> <td style="text-align: left; padding: 0; text-indent: 0"> </td><td style="text-align: right; padding: 0; text-indent: 0">—</td><td style="text-align: left; padding: 0; text-indent: 0"> </td><td style="padding: 0; text-indent: 0"> </td> <td style="text-align: left; padding: 0; text-indent: 0"> </td><td style="text-align: right; padding: 0; text-indent: 0">2,794</td><td style="text-align: left; padding: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding: 0 0 0 10pt; text-indent: -10pt">Total gains recognized in "Other income (expense), net"	</td><td style="padding: 0; text-indent: 0"> </td> <td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: left; text-indent: 0"> </td><td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: right; text-indent: 0">18</td><td style="padding: 0; text-align: left; text-indent: 0"> </td><td style="padding: 0; text-indent: 0"> </td> <td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: left; text-indent: 0"> </td><td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: right; text-indent: 0">22</td><td style="padding: 0; text-align: left; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0 0 4pt 10pt; text-indent: -10pt">Balance, end of period	</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: left; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: right; text-indent: 0">3,637</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0"> </td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: left; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: right; text-indent: 0">2,816</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding: 0 0 4pt 10pt; text-indent: -10pt">Change in unrealized gains or losses for the period included in earnings for assets held at the end of the period	</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: left; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: right; text-indent: 0">18</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0"> </td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: left; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: right; text-indent: 0">22</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0"> </td></tr> </table>   Fair Value of Other Financial Instruments   The estimated fair value of the Company's other financial instruments was determined using available market information or other appropriate valuation methodologies. However, considerable judgment is required in interpreting these data to develop estimates of fair value. Consequently, the estimates are not necessarily indicative of the amounts that could be realized or would be paid in a current market exchange.   Cash and cash equivalents, restricted cash and cash equivalents, other current assets, customer deposits, and other current liabilities. At October 31, 2019 and July 31, 2019, the carrying amount of these assets and liabilities approximated fair value because of the short period of time to maturity. The fair value estimates for cash, cash equivalents and restricted cash and cash equivalents were classified as Level 1 and other current assets, customer deposits, and other current liabilities were classified as Level 2 of the fair value hierarchy.   Other assets and other liabilities. At October 31, 2019 and July 31, 2019, the carrying amount of these assets and liabilities approximated fair value. The fair values were estimated based on the Company's assumptions, which were classified as Level 3 of the fair value hierarchy.

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 1 (1) </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 2 (2) </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 3 (3) </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="14" style="font-weight: bold; text-align: center">(in thousands)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">October 31, 2019</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Debt securities</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">9,894</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">9,894</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Equity investments included in current assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,710</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,710</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Equity investments included in noncurrent assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,637</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,637</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 4pt; padding-left: 0.125in">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">5,710</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">9,894</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">3,637</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">19,241</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">July 31, 2019</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Debt securities</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,534</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,534</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Equity investments included in current assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,688</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,688</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Equity investments included in noncurrent assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,619</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,619</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt; padding-left: 0.125in">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">5,688</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">2,534</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">3,619</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">11,841</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>   (1) – quoted prices in active markets for identical assets or liabilities (2) – observable inputs other than quoted prices in active markets for identical assets and liabilities (3) – no observable pricing inputs in the market

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding: 0 0 0 10pt; text-indent: -10pt"> </td><td style="font-weight: bold; padding: 0; text-indent: 0"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding: 0; text-indent: 0">Three Months Ended October 31, </td><td style="padding: 0; font-weight: bold; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0 0 1.5pt 10pt; text-indent: -10pt"> </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td> <td colspan="2" style="font-weight: bold; text-align: center; padding-top: 0; padding-right: 0; border-bottom: Black 1.5pt solid; padding-left: 0; text-indent: 0">2019 </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td> <td colspan="2" style="font-weight: bold; text-align: center; padding-top: 0; padding-right: 0; border-bottom: Black 1.5pt solid; padding-left: 0; text-indent: 0">2018 </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0 0 0 10pt; text-indent: -10pt"> </td><td style="font-weight: bold; padding: 0; text-indent: 0"> </td> <td colspan="6" style="font-weight: bold; text-align: center; padding: 0; text-indent: 0">(in thousands)</td><td style="font-weight: bold; padding: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-indent: -10pt; padding: 0 0 0 10pt">Balance, beginning of period	</td><td style="width: 1%; padding: 0; text-indent: 0"> </td> <td style="width: 1%; text-align: left; padding: 0; text-indent: 0">$</td><td style="width: 9%; text-align: right; padding: 0; text-indent: 0">3,619</td><td style="width: 1%; text-align: left; padding: 0; text-indent: 0"> </td><td style="width: 1%; padding: 0; text-indent: 0"> </td> <td style="width: 1%; text-align: left; padding: 0; text-indent: 0">$</td><td style="width: 9%; text-align: right; padding: 0; text-indent: 0">—</td><td style="width: 1%; text-align: left; padding: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: -10pt; padding: 0 0 0 10pt">Transfer into Level 3 from adoption of change in accounting for equity investments	</td><td style="padding: 0; text-indent: 0"> </td> <td style="text-align: left; padding: 0; text-indent: 0"> </td><td style="text-align: right; padding: 0; text-indent: 0">—</td><td style="text-align: left; padding: 0; text-indent: 0"> </td><td style="padding: 0; text-indent: 0"> </td> <td style="text-align: left; padding: 0; text-indent: 0"> </td><td style="text-align: right; padding: 0; text-indent: 0">2,794</td><td style="text-align: left; padding: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding: 0 0 0 10pt; text-indent: -10pt">Total gains recognized in "Other income (expense), net"	</td><td style="padding: 0; text-indent: 0"> </td> <td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: left; text-indent: 0"> </td><td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: right; text-indent: 0">18</td><td style="padding: 0; text-align: left; text-indent: 0"> </td><td style="padding: 0; text-indent: 0"> </td> <td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: left; text-indent: 0"> </td><td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: right; text-indent: 0">22</td><td style="padding: 0; text-align: left; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0 0 4pt 10pt; text-indent: -10pt">Balance, end of period	</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: left; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: right; text-indent: 0">3,637</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0"> </td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: left; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: right; text-indent: 0">2,816</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding: 0 0 4pt 10pt; text-indent: -10pt">Change in unrealized gains or losses for the period included in earnings for assets held at the end of the period	</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: left; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: right; text-indent: 0">18</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0"> </td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: left; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: right; text-indent: 0">22</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0"> </td></tr></table>

Note 8—Acquisition of Versature Corp.   On September 14, 2018, the Company acquired 100% of the outstanding shares of Versature Corp., a UCaaS provider serving the Canadian market, for cash of $5.9 million. Versature's operating results from the date of acquisition, which were not significant, are included in the Company's consolidated financial statements.   The following table presents unaudited pro forma information of the Company as if the acquisition occurred on August 1, 2018:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">Three Months Ended October 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">(in thousands)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; padding-bottom: 4pt; text-indent: -0.45pt; padding-left: 0.9pt">Revenues	</td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">340,245</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">363,200</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 4pt; text-indent: -0.45pt; padding-left: 0.9pt">Net loss	</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(1,422</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(2,206</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr></table>

Note 9—Other Operating Expense, Net   The following table summarizes the other operating expense, net by business segment:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding: 0 0 0 10pt; text-indent: -10pt"> </td><td style="font-weight: bold; padding: 0; text-indent: 0"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding: 0; text-indent: 0">Three Months Ended October 31, </td><td style="padding: 0; font-weight: bold; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0 0 0 10pt; text-indent: -10pt"> </td><td style="font-weight: bold; padding: 0; text-indent: 0"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding: 0; text-indent: 0">2019 </td><td style="font-weight: bold; padding: 0; text-indent: 0"> </td><td style="font-weight: bold; padding: 0; text-indent: 0"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding: 0; text-indent: 0">2018 </td><td style="font-weight: bold; padding: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0 0 0 10pt; text-indent: -10pt"> </td><td style="font-weight: bold; padding: 0; text-indent: 0"> </td> <td colspan="6" style="font-weight: bold; text-align: center; padding: 0; text-indent: 0">(in thousands)</td><td style="font-weight: bold; padding: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; text-indent: -10pt; padding: 0 0 0 10pt">Corporate—Straight Path Communications Inc. class action legal fees	</td><td style="width: 1%; padding: 0; text-indent: 0"> </td> <td style="width: 1%; text-align: left; padding: 0; text-indent: 0">$</td><td style="width: 9%; text-align: right; padding: 0; text-indent: 0">260</td><td style="width: 1%; text-align: left; padding: 0; text-indent: 0"> </td><td style="width: 1%; padding: 0; text-indent: 0"> </td> <td style="width: 1%; text-align: left; padding: 0; text-indent: 0">$</td><td style="width: 9%; text-align: right; padding: 0; text-indent: 0">195</td><td style="width: 1%; text-align: left; padding: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0 0 0 10pt; text-align: left; text-indent: -10pt">net2phone—indemnification claim</td><td style="padding: 0; text-indent: 0"> </td> <td style="padding: 0; text-align: left; text-indent: 0"> </td><td style="padding: 0; text-align: right; text-indent: 0">365</td><td style="padding: 0; text-align: left; text-indent: 0"> </td><td style="padding: 0; text-indent: 0"> </td> <td style="padding: 0; text-align: left; text-indent: 0"> </td><td style="padding: 0; text-align: right; text-indent: 0">—</td><td style="padding: 0; text-align: left; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding: 0 0 0 10pt; text-indent: -10pt">Telecom & Payment Services—accrual for non-income related taxes related to a foreign subsidiary	</td><td style="padding: 0; text-indent: 0"> </td> <td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: left; text-indent: 0"> </td><td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: right; text-indent: 0">2,150</td><td style="padding: 0; text-align: left; text-indent: 0"> </td><td style="padding: 0; text-indent: 0"> </td> <td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: left; text-indent: 0"> </td><td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: right; text-indent: 0">1,100</td><td style="padding: 0; text-align: left; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding: 0 0 4pt 0.25in; text-indent: -10pt">Total other operating expense, net</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: left; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: right; text-indent: 0">2,775</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0"> </td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: left; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: right; text-indent: 0">1,295</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0"> </td></tr> </table>   Straight Path Communications Inc. Class Action   On July 31, 2013, the Company completed a pro rata distribution of the common stock of the Company's subsidiary Straight Path Communications Inc. ("Straight Path") to the Company's stockholders of record as of the close of business on July 25, 2013. As discussed in Note 15, a putative class action on behalf of Straight Path's stockholders and derivative complaint was filed naming the Company, among others. In the three months ended October 31, 2019 and 2018, the Company incurred legal fees of $0.7 million and $0.2 million, respectively, related to this action. Also, in the three months ended October 31, 2019, the Company recorded insurance proceeds for this matter of $0.4 million.   Indemnification Claim   In June 2019, as part of a commercial resolution, the Company indemnified a net2phone cable telephony customer related to patent infringement claims brought against the customer.   Accrual for Non-Income Related Taxes   In the fourth quarter of fiscal 2019, the Company recorded an $8.0 million accrual for non-income related taxes related to one of its foreign subsidiaries. A portion of the accrual related to each of the fiscal quarters in fiscal 2019. Accordingly, the Company corrected its consolidated financial statements for the three months ended October 31, 2018, January 31, 2019, and April 30, 2019 to include the accrued expense and the related income tax benefit. The Company has determined that the adjustments were not material to its previously issued quarterly financial statements. The impact of the correction on the Company's previously issued consolidated financial statements for the three months ended October 31, 2018 was as follows:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">Three Months Ended October 31, 2018</td><td style="padding: 0 0 1.5pt; font-weight: bold; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0 0 1.5pt; text-indent: 0"> </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">Previously Reported </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">Error Correction </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">As Adjusted </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="font-weight: bold; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td> <td colspan="10" style="font-weight: bold; text-align: center; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(in thousands, except per share data)</td><td style="font-weight: bold; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">Consolidated Statement of Operations:</td><td style="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td> <td colspan="10" style="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; padding: 0 0 4pt; text-indent: 0">Other operating expense		</td><td style="width: 1%; padding: 0 0 4pt; text-indent: 0"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(195</td><td style="width: 1%; padding: 0 0 4pt; text-align: left; text-indent: 0">)</td><td style="width: 1%; padding: 0 0 4pt; text-indent: 0"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(1,100</td><td style="width: 1%; padding: 0 0 4pt; text-align: left; text-indent: 0">)</td><td style="width: 1%; padding: 0 0 4pt; text-indent: 0"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(1,295</td><td style="width: 1%; padding: 0 0 4pt; text-align: left; text-indent: 0">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding: 0 0 4pt; text-indent: 0">Provision for income taxes		</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(1,189</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0">)</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">250</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0"> </td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(939</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding: 0 0 4pt; text-indent: 0">Net loss		</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(1,148</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0">)</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(850</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0">)</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(1,998</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding: 0 0 4pt; text-indent: 0">Net loss attributable to IDT Corporation	</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(1,449</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0">)</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(850</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0">)</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(2,299</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: normal; text-align: left; text-indent: 0; padding-left: 0; padding-top: 0; padding-right: 0">Loss per share attributable to IDT Corporation common stockholders:</td><td style="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td> <td style="text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td> <td style="text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td> <td style="text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0 0 4pt 0.125in; text-indent: 0">Basic		</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(0.06</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0">)</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(0.04</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0">)</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(0.10</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0 0 4pt 0.125in; text-indent: 0">Diluted		</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(0.06</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0">)</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(0.04</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0">)</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(0.10</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0">)</td></tr></table>

365000

276000

300000

32551

Note 10—Equity   Stock Repurchases   The Company has an existing stock repurchase program authorized by its Board of Directors for the repurchase of up to an aggregate of 8.0 million shares of the Company's Class B common stock. There were no repurchases under the program in the three months ended October 31, 2019. In the three months ended October 31, 2018, the Company repurchased 729,110 shares of Class B common stock for an aggregate purchase price of $3.9 million. At October 31, 2019, 6.9 million shares remained available for repurchase under the stock repurchase program.   2015 Stock Option and Incentive Plan   In the three months ended October 31, 2019, the Company received proceeds from the exercise of stock options of $0.3 million for which the Company issued 32,551 shares of its Class B common stock. There were no stock option exercises in the three months ended October 31, 2018.   On September 12, 2019, the Company's Board of Directors amended the Company's 2015 Stock Option and Incentive Plan to increase the number of shares of the Company's Class B common stock available for the grant of awards thereunder by an additional 0.4 million shares. The amendment is subject to approval by the Company's stockholders at its annual meeting of stockholders on December 12, 2019.

Note 11—Loss Per Share   Basic earnings per share is computed by dividing net income attributable to all classes of common stockholders of the Company by the weighted average number of shares of all classes of common stock outstanding during the applicable period. Diluted earnings per share is computed in the same manner as basic earnings per share, except that the number of shares is increased to include restricted stock still subject to risk of forfeiture and to assume exercise of potentially dilutive stock options using the treasury stock method, unless the effect of such increase is anti-dilutive.   The following shares were excluded from the diluted loss per share computations because their inclusion would have been anti-dilutive:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">Three Months Ended October 31, </td><td style="padding: 0 0 1.5pt; font-weight: bold; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0 0 1.5pt; text-indent: 0"> </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">2019 </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">2018 </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="font-weight: bold; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td> <td colspan="6" style="font-weight: bold; text-align: center; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(in thousands)</td><td style="font-weight: bold; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">Stock options</td><td style="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td> <td style="text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td> <td style="text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">1,190</td><td style="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td> <td style="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td> <td style="text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">1,243</td><td style="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 76%; text-align: left; padding: 0 0 1.5pt; text-indent: 0">Non-vested restricted Class B common stock	</td><td style="width: 1%; padding: 0 0 1.5pt; text-indent: 0"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">616</td><td style="width: 1%; padding: 0 0 1.5pt; text-align: left; text-indent: 0"> </td><td style="width: 1%; padding: 0 0 1.5pt; text-indent: 0"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">49</td><td style="width: 1%; padding: 0 0 1.5pt; text-align: left; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding: 0 0 4pt; text-indent: 0">Shares excluded from the calculation of diluted earnings per share	</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="padding-top: 0; padding-right: 0; border-bottom: Black 4pt double; padding-left: 0; text-align: left; text-indent: 0"> </td><td style="border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">1,806</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0"> </td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="padding-top: 0; padding-right: 0; border-bottom: Black 4pt double; padding-left: 0; text-align: left; text-indent: 0"> </td><td style="padding-top: 0; padding-right: 0; border-bottom: Black 4pt double; padding-left: 0; text-align: right; text-indent: 0">1,292</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0"> </td></tr> </table>   The diluted loss per share equals basic loss per share in the three months ended October 31, 2019 and 2018 because the Company had a net loss and the impact of the assumed exercise of stock options and the vesting of restricted stock would have been anti-dilutive.

Note 12—Revolving Credit Loan Payable   As of October 31, 2019, the Company's subsidiary, IDT Telecom, Inc., entered into a credit agreement with TD Bank, N.A. for a line of credit facility for up to a maximum principal amount of $25.0 million. IDT Telecom may use the proceeds to finance working capital requirements, acquisitions and other general corporate purposes. The line of credit facility is secured by primarily all of IDT Telecom's assets. The principal outstanding bears interest per annum at the LIBOR rate adjusted by the Regulation D maximum reserve requirement plus 125 basis points. Interest is payable monthly, and all outstanding principal and any accrued and unpaid interest is due on the maturity date of July 15, 2020. IDT Telecom pays a quarterly unused commitment fee of 0.3% per annum on the average daily balance of the unused portion of the $25.0 million commitment. IDT Telecom is required to comply with various affirmative and negative covenants as well as maintain certain financial targets and ratios during the term of the facility, including IDT Telecom may not pay any dividend on its capital stock.

Note 13—Accumulated Other Comprehensive Loss   The accumulated balances for each classification of other comprehensive loss were as follows:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding: 0 0 1.5pt 10pt; text-indent: -10pt"> </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td> <td colspan="2" style="font-weight: bold; text-align: center; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0; border-bottom: Black 1.5pt solid">Unrealized Gain (Loss) on Available-for-Sale Securities </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td> <td colspan="2" style="font-weight: bold; text-align: center; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0; border-bottom: Black 1.5pt solid">Foreign Currency Translation </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td> <td colspan="2" style="font-weight: bold; text-align: center; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0; border-bottom: Black 1.5pt solid">Accumulated Other Comprehensive Loss </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-top: 0; padding-right: 0; padding-left: 10pt; text-indent: -10pt"> </td><td style="font-weight: bold; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td> <td colspan="10" style="font-weight: bold; text-align: center; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(in thousands)</td><td style="font-weight: bold; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; padding-left: 10pt; padding-top: 0; padding-right: 0; text-indent: -10pt">Balance, July 31, 2019		</td><td style="width: 1%; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td> <td style="width: 1%; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="width: 9%; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">  —</td><td style="width: 1%; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="width: 1%; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td> <td style="width: 1%; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="width: 9%; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(4,858</td><td style="width: 1%; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">)</td><td style="width: 1%; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td> <td style="width: 1%; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="width: 9%; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(4,858</td><td style="width: 1%; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding: 0 0 1.5pt 10pt; text-indent: -10pt">Other comprehensive loss attributable to IDT Corporation		</td><td style="padding: 0 0 1.5pt; text-indent: 0"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">—</td><td style="padding: 0 0 1.5pt; text-align: left; text-indent: 0"> </td><td style="padding: 0 0 1.5pt; text-indent: 0"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(1,204</td><td style="padding: 0 0 1.5pt; text-align: left; text-indent: 0">)</td><td style="padding: 0 0 1.5pt; text-indent: 0"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(1,204</td><td style="padding: 0 0 1.5pt; text-align: left; text-indent: 0">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0 0 4pt 10pt; text-indent: -10pt">Balance, October 31, 2019		</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">—</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0"> </td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(6,062</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0">)</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; text-align: left; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; text-align: right; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">(6,062</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0">)</td></tr></table>

Note 14—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.   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.   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 are as follows:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Telecom & Payment Services</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">net2phone</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Corporate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Three Months Ended October 31, 2019</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%">Revenues</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">327,618</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">12,627</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">340,245</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Income (loss) from operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,372</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,263</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,501</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,392</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other operating expense, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,150</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(365</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(260</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,775</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Three Months Ended October 31, 2018</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Revenues</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">351,849</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">10,467</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">362,316</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Income (loss) from operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,169</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,500</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,487</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">182</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other operating expense, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,100</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(195</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,295</td><td style="text-align: left">)</td></tr></table>

Note 15—Commitments and Contingencies   Legal Proceedings   On April 12, 2019, Scarleth Samara filed a putative class action against IDT Telecom in the U.S. District Court for the Eastern District of Louisiana alleging certain violations of the Telephone Consumer Protection Act of 1991. Plaintiff alleges that in October of 2017, IDT Telecom sent unauthorized marketing messages to her cellphone. IDT Telecom filed a motion to compel arbitration. On or about August 19, 2019, the plaintiff agreed to dismiss the pending court action and the parties intend to proceed with arbitration. At this stage, the Company is unable to estimate its potential liability, if any. The Company intends to vigorously defend the claim.   On January 22, 2019, Jose Rosales filed a putative class action against IDT America, IDT Domestic Telecom and IDT International in California state court alleging certain violations of employment law. Plaintiff alleges that these companies failed to compensate members of the putative class in accordance with California law. The Company is evaluating the claims, and at this stage, is unable to estimate its potential liability, if any. The Company intends to vigorously defend the claims. In August 2019, the Company filed a cross complaint against Rosales alleging trade secret and other violations.   On May 21, 2018, Erik Dennis filed a putative class action against IDT Telecom and the Company in the U.S. District Court for the Northern District of Georgia alleging violations of Do Not Call Regulations promulgated by the U.S. Federal Trade Commission. On October 31, 2019, the parties settled the matter and filed a stipulation of dismissal with prejudice.   On May 2, 2018, Jean Carlos Sanchez filed a putative class action against IDT Telecom in the U.S. District Court for the Northern District of Illinois alleging that the Company sent unauthorized marketing messages to cellphones in violation of the Telephone Consumer Protection Act of 1991. On July 26, 2018, the parties filed a stipulation of dismissal. The Company is evaluating the claim, and at this stage, is unable to estimate its potential liability, if any. The Company intends to vigorously defend this matter.   On April 24, 2018, Sprint Communications Company L.P. filed a patent infringement claim against the Company and certain of its affiliates in the U.S. District Court for the District of Delaware alleging infringement of U.S. Patent Nos. 6,298,064; 6,330,224; 6,343,084; 6,452,932; 6,463,052; 6,473,429; 6,563,918; 6,633,561; 6,697,340; 6,999,463; 7,286,561; 7,324,534; 7,327,728; 7,505,454; and 7,693,131. Plaintiff was seeking damages and injunctive relief. On June 28, 2018, Sprint dismissed the complaint without prejudice. The Company is evaluating the underlying claim, and at this stage, is unable to estimate its potential liability, if any. The Company intends to vigorously defend any claim of infringement of the listed patents.   On July 5, 2017, plaintiff JDS1, LLC, on behalf of itself and all other similarly situated stockholders of Straight Path, and derivatively on behalf of Straight Path as nominal defendant, filed a putative class action and derivative complaint in the Court of Chancery of the State of Delaware against the Company, The Patrick Henry Trust (a trust formed by Howard S. Jonas that held record and beneficial ownership of certain shares of Straight Path he formerly held), Howard S. Jonas, and each of Straight Path's directors. The complaint alleges that the Company aided and abetted Straight Path Chairman of the Board and Chief Executive Officer Davidi Jonas, and Howard S. Jonas in his capacity as controlling stockholder of Straight Path, in breaching their fiduciary duties to Straight Path in connection with the settlement of claims between Straight Path and the Company related to potential indemnification claims concerning Straight Path's obligations under the Consent Decree it entered into with the Federal Communications Commission ("FCC"), as well as the sale of Straight Path's subsidiary Straight Path IP Group, Inc. to the Company in connection with that settlement. That action was consolidated with a similar action that was initiated by The Arbitrage Fund. The Plaintiffs are seeking, among other things, (i) a declaration that the action may be maintained as a class action or in the alternative, that demand on the Straight Path Board is excused; (ii) that the term sheet is invalid; (iii) awarding damages for the unfair price stockholders received in the merger between Straight Path and Verizon Communications Inc. for their shares of Straight Path's Class B common stock; and (iv) ordering Howard S. Jonas, Davidi Jonas, and the Company to disgorge any profits for the benefit of the class Plaintiffs. On August 28, 2017, the Plaintiffs filed an amended complaint. On September 24, 2017, the Company filed a motion to dismiss the amended complaint. Following closing of the transaction, the Delaware Chancery Court denied the motion to dismiss. On February 22, 2019, the Delaware Supreme Court affirmed the denial of the motion to dismiss. The parties are engaged in discovery. The Company intends to vigorously defend this matter (see Note 9). At this stage, the Company is unable to estimate its potential liability, if any.   In addition to the foregoing, the Company is subject to other legal proceedings that have arisen in the ordinary course of business and have not been finally adjudicated. Although there can be no assurance in this regard, the Company believes that none of the other legal proceedings to which the Company is a party will have a material adverse effect on the Company's results of operations, cash flows or financial condition.   Sales Tax Contingency   On June 21, 2018, the United States Supreme Court rendered a decision in South Dakota v. Wayfair, Inc., holding that a state may require a remote seller with no physical presence in the state to collect and remit sales tax on goods and services provided to purchasers in the state, overturning certain existing court precedent. The Company is evaluating its state tax filings with respect to the Wayfair decision and is in the process of reviewing its collection practices. It is possible that one or more jurisdictions may assert that the Company has liability for periods for which it has not collected sales, use or other similar taxes, and if such an assertion or assertions were successful it could materially and adversely affect the Company's business, financial position and operating results. One or more jurisdictions may change their laws or policies to apply their sales, use or other similar taxes to the Company's operations, and if such changes were made it could materially and adversely affect the Company's business, financial position and operating results.   Regulatory Fee Audit   The Company's 2017 FCC Form 499-A, which reports its calendar year 2016 revenue, related to payments due to the FCC, is currently under audit by the Internal Audit Division of the Universal Service Administrative Company. At October 31, 2019 and July 31, 2019, the Company's accrued expenses included $42.1 million and $44.7 million, respectively, for these regulatory fees for the years covered by the audit, as well as prior and subsequent years.   Purchase Commitments   At October 31, 2019, the Company had purchase commitments of $30.7 million, including the aggregate commitment of $26.5 million under the telecom services commitments described below.   Telecom Services Commitments   In May 2019, the Company entered into a Memorandum of Understanding ("MOU") with a telecom operator in Central America for among other things, termination of inbound and outbound international long-distance voice calls. The MOU is effective until December 31, 2019, unless superseded by the execution of a definitive agreement. The Company has committed to pay such telecom operator monthly committed amounts during the term of the MOU. The parties intend to draft and execute a definitive agreement as soon as practicable.   In August 2017, the Company entered into a Reciprocal Services Agreement with a telecom operator in Central America for a full range of services, including, but not limited to, termination of inbound and outbound international long-distance voice calls. The Company has committed to pay such telecom operator monthly committed amounts during the term of the agreement. In addition, under certain limited circumstances, either party has the right to terminate the agreement. Pursuant to the agreement, the Company deposited $9.2 million into an escrow account as security for the benefit of the telecom operator, which is included in "Other current assets" in the accompanying consolidated balance sheet based on the terms and conditions of the agreement.   Performance Bonds   The Company has performance bonds issued through third parties for the benefit of various states in order to comply with the states' financial requirements for money remittance licenses and telecommunications resellers. At October 31, 2019, the Company had aggregate performance bonds of $17.5 million outstanding.   Company Restricted Cash and Cash Equivalents   The Company treats unrestricted cash and cash equivalents held by IDT Payment Services, which provides the Company's international money transfer services in the United States, as substantially restricted and unavailable for other purposes. At October 31, 2019 and July 31, 2019, "Cash and cash equivalents" in the Company's consolidated balance sheets included an aggregate of $9.8 million and $13.2 million, respectively, held by IDT Payment Services that was unavailable for other purposes.   FCC Investigation of Straight Path Spectrum LLC   On September 20, 2016, the Company received a letter of inquiry from the Enforcement Bureau of the FCC requesting certain information and materials related to an investigation of potential violations by Straight Path Spectrum LLC (formerly a subsidiary of the Company and Straight Path) in connection with licenses to operate on the 28 GHz and 39 GHz bands of the Fixed Microwave Services. The Company has cooperated with the FCC in this matter and has responded to the letter of inquiry. If the FCC were to pursue separate action against the Company, the FCC could seek to fine or impose regulatory penalties or civil liability on the Company related to activities during the period of ownership by the Company.

Note 16—Other Income (Expense), Net   Other income (expense), net consists of the following:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Three Months Ended October 31, </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019 </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018 </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">(in thousands)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Foreign currency transaction gains (losses)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">671</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(1,205</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Gain (loss) on investments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(46</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Other</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(463</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(98</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 4pt; padding-left: 0.125in">Total other income (expense), net</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">234</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(1,349</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr></table>

25000000

2020-07-15

0.003

The principal outstanding bears interest per annum at the LIBOR rate adjusted by the Regulation D maximum reserve requirement plus 125 basis points.

276000

400000

1474000

1754000

1716000

1916000

3190000

3670000

961000

Note 3—Leases   On August 1, 2019, the Company adopted Accounting Standards Update No. 2016-02, Leases (Topic 842), and the amendments thereto, related to the accounting for leases (collectively referred to as "ASC 842"). ASC 842 establishes a right-of-use ("ROU") model that requires a lessee to record a ROU asset and a lease liability on its balance sheet for all leases with terms longer than 12 months. Leases are classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. Entities have the option to continue to apply historical accounting under Topic 840, the previously applicable standard, including its disclosure requirements, in comparative periods presented in the year of adoption. An entity that elects this option will recognize a cumulative effect adjustment to the opening balance of retained earnings in the period of adoption instead of the earliest period presented.   The Company elected to apply the optional ASC 842 transition provisions beginning on August 1, 2019. Accordingly, the Company will continue to apply Topic 840 prior to August 1, 2019, including Topic 840 disclosure requirements, in the comparative periods presented. The Company elected the package of practical expedients for all its leases that commenced before August 1, 2019. In addition, the Company elected not to apply the recognition requirements of ASC 842 for its short-term leases.   The Company's leases primarily consist of operating leases for office space. These leases have remaining terms from one to six years. net2phone-UCaaS also has operating leases for office equipment. Certain of these leases include renewal options that may be exercised and/or options to terminate the lease. The Company has concluded that it is not reasonably certain that it would exercise the options to extend the lease or terminate the lease.   The adoption of ASC 842 resulted in the recognition of operating lease liabilities of $12.4 million and operating ROU assets of the same amount as of August 1, 2019 based on the present value of the remaining minimum rental payments associated with the Company's leases. As the Company's leases do not provide an implicit rate, nor is one readily available, the Company used its incremental borrowing rate based on information available at August 1, 2019 to determine the present value of its future minimum rental payments.   net2phone has equipment leases that were classified as capital leases under Topic 840 and are finance leases under ASC 842. net2phone is also the lessor in various equipment leases that were classified as sales-type capital leases under Topic 840, that are classified as sales-type finance leases under ASC 842. The assets and liabilities related to these finance leases are not material to the Company's consolidated balance sheets.    Supplemental disclosures related to the Company's operating leases were as follows:   <table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding: 0 0 1.5pt; text-indent: 0"> </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td> <td colspan="2" style="font-weight: bold; text-align: center; padding-top: 0; padding-right: 0; border-bottom: Black 1.5pt solid; padding-left: 0; text-indent: 0">Three Months Ended October 31, 2019 </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0; text-indent: 0"> </td><td style="font-weight: bold; padding: 0; text-indent: 0"> </td> <td colspan="2" style="font-weight: bold; text-align: center; padding: 0; text-indent: 0">(in thousands)</td><td style="font-weight: bold; padding: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: left; text-indent: 0; padding: 0">Operating lease cost</td><td style="width: 1%; padding: 0; text-indent: 0"> </td> <td style="width: 1%; text-align: left; padding: 0; text-indent: 0">$</td><td style="width: 9%; text-align: right; padding: 0; text-indent: 0">711</td><td style="width: 1%; text-align: left; padding: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding: 0; text-indent: 0">Short-term lease cost</td><td style="padding: 0; text-indent: 0"> </td> <td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: left; text-indent: 0"> </td><td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: right; text-indent: 0">58</td><td style="padding: 0; text-align: left; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding: 0 0 4pt 0.125in; text-indent: 0">Total lease cost</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: left; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: right; text-indent: 0">769</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0; padding: 0">Cash paid for amounts included in the measurement of lease liabilities:</td><td style="padding: 0; text-indent: 0"> </td> <td style="text-align: left; padding: 0; text-indent: 0"> </td><td style="text-align: right; padding: 0; text-indent: 0"> </td><td style="text-align: left; padding: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding: 0 0 4pt 0.125in; text-indent: 0">Operating cash flows from operating leases</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: left; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: right; text-indent: 0">684</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0"> </td></tr> </table>   <table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding: 0 0 1.5pt; text-indent: 0"> </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td> <td colspan="2" style="font-weight: bold; text-align: center; padding-top: 0; padding-right: 0; border-bottom: Black 1.5pt solid; padding-left: 0; text-indent: 0">October 31, 2019 </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0; text-indent: 0"> </td><td style="padding: 0; text-indent: 0"> </td> <td colspan="2" style="text-align: center; padding: 0; text-indent: 0"> </td><td style="padding: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: left; padding: 0 0 4pt; text-indent: 0">Weighted-average remaining lease term-operating leases</td><td style="width: 1%; padding: 0 0 4pt; text-indent: 0"> </td> <td style="width: 1%; padding-top: 0; padding-right: 0; border-bottom: Black 4pt double; padding-left: 0; text-align: left; text-indent: 0"> </td><td style="width: 9%; border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: right; text-indent: 0">4.9 years</td><td style="width: 1%; padding: 0 0 4pt; text-align: left; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding: 0 0 4pt; text-indent: 0">Weighted-average discount rate-operating leases</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="padding-top: 0; padding-right: 0; border-bottom: Black 4pt double; padding-left: 0; text-align: left; text-indent: 0"> </td><td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: right; text-indent: 0">3.12</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0">%</td></tr> </table>   The Company's aggregate operating lease liability was as follows:   <table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding: 0 0 1.5pt; text-indent: 0"> </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td> <td colspan="2" style="font-weight: bold; text-align: center; padding-top: 0; padding-right: 0; border-bottom: Black 1.5pt solid; padding-left: 0; text-indent: 0">October 31, 2019 </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0; text-indent: 0"> </td><td style="font-weight: bold; padding: 0; text-indent: 0"> </td> <td colspan="2" style="font-weight: bold; text-align: center; padding: 0; text-indent: 0">(in thousands)</td><td style="font-weight: bold; padding: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: left; text-indent: 0; padding: 0">Operating lease liabilities included in "Other current liabilities"</td><td style="width: 1%; padding: 0; text-indent: 0"> </td> <td style="width: 1%; text-align: left; padding: 0; text-indent: 0">$</td><td style="width: 9%; text-align: right; padding: 0; text-indent: 0">2,417</td><td style="width: 1%; text-align: left; padding: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding: 0; text-indent: 0">Operating lease liabilities included in noncurrent liabilities</td><td style="padding: 0; text-indent: 0"> </td> <td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: left; text-indent: 0"> </td><td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: right; text-indent: 0">9,335</td><td style="padding: 0; text-align: left; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0 0 4pt 0.125in; text-indent: 0">Total	</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: left; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: right; text-indent: 0">11,752</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0"> </td></tr> </table>   Future minimum maturities of operating lease liabilities were as follows:   <table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding: 0 0 1.5pt; text-indent: 0; text-align: left"> </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td> <td colspan="2" style="font-weight: bold; text-align: center; padding-top: 0; padding-right: 0; border-bottom: Black 1.5pt solid; padding-left: 0; text-indent: 0">Twelve-month period ending October 31, </td><td style="font-weight: bold; padding: 0 0 1.5pt; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0; text-indent: 0; text-align: left"> </td><td style="font-weight: bold; padding: 0; text-indent: 0"> </td> <td colspan="2" style="font-weight: bold; text-align: center; padding: 0; text-indent: 0">(in thousands)</td><td style="font-weight: bold; padding: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: left; text-indent: 0; padding: 0 0 0 0in">2020</td><td style="width: 1%; padding: 0; text-indent: 0"> </td> <td style="width: 1%; text-align: left; padding: 0; text-indent: 0">$</td><td style="width: 9%; text-align: right; padding: 0; text-indent: 0">2,776</td><td style="width: 1%; text-align: left; padding: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0; padding: 0 0 0 0in">2021</td><td style="padding: 0; text-indent: 0"> </td> <td style="text-align: left; padding: 0; text-indent: 0"> </td><td style="text-align: right; padding: 0; text-indent: 0">2,637</td><td style="text-align: left; padding: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0; padding: 0 0 0 0in">2022</td><td style="padding: 0; text-indent: 0"> </td> <td style="text-align: left; padding: 0; text-indent: 0"> </td><td style="text-align: right; padding: 0; text-indent: 0">2,438</td><td style="text-align: left; padding: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0; padding: 0 0 0 -0.125in">2023</td><td style="padding: 0; text-indent: 0"> </td> <td style="text-align: left; padding: 0; text-indent: 0"> </td><td style="text-align: right; padding: 0; text-indent: 0">1,996</td><td style="text-align: left; padding: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0; padding: 0">2024</td><td style="padding: 0; text-indent: 0"> </td> <td style="text-align: left; padding: 0; text-indent: 0"> </td><td style="text-align: right; padding: 0; text-indent: 0">1,880</td><td style="text-align: left; padding: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0; text-indent: 0; text-align: left">Thereafter</td><td style="padding: 0; text-indent: 0"> </td> <td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: left; text-indent: 0"> </td><td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: right; text-indent: 0">986</td><td style="padding: 0; text-align: left; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0; padding: 0">Total lease payments</td><td style="padding: 0; text-indent: 0"> </td> <td style="text-align: left; padding: 0; text-indent: 0"> </td><td style="text-align: right; padding: 0; text-indent: 0">12,713</td><td style="text-align: left; padding: 0; text-indent: 0"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding: 0; text-indent: 0">Less imputed interest</td><td style="padding: 0; text-indent: 0"> </td> <td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: left; text-indent: 0"> </td><td style="border-bottom: Black 1.5pt solid; padding: 0; text-align: right; text-indent: 0">(961</td><td style="padding: 0; text-align: left; text-indent: 0">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding: 0 0 4pt 0.125in; text-indent: 0">Total operating lease liabilities</td><td style="padding: 0 0 4pt; text-indent: 0"> </td> <td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: left; text-indent: 0">$</td><td style="border-bottom: Black 4pt double; padding-top: 0; padding-right: 0; padding-left: 0; text-align: right; text-indent: 0">11,752</td><td style="padding: 0 0 4pt; text-align: left; text-indent: 0"> </td></tr> </table>

observable inputs other than quoted prices in active markets for identical assets and liabilities quoted prices in active markets for identical assets or liabilities no observable pricing inputs in the market Each of the Company's certificates of deposit has a CUSIP, was purchased in the secondary market through a broker, and may be sold in the secondary market. Stock-based compensation included in selling, general and administrative expenses

EX-101.SCH 7 idt-20191031.xsd XBRL SCHEMA FILE 00000001 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink 00000002 - Statement - Consolidated Balance Sheets link:presentationLink link:calculationLink link:definitionLink 00000003 - Statement - Consolidated Balance Sheets (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 00000004 - Statement - Consolidated Statements of Operations (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000005 - Statement - Consolidated Statements of Comprehensive Loss (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000006 - Statement - Consolidated Statements of Equity (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000007 - Statement - Consolidated Statements of Cash Flows (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000008 - Disclosure - Basis of Presentation link:presentationLink link:calculationLink link:definitionLink 00000009 - Disclosure - Revenue Recognition link:presentationLink link:calculationLink link:definitionLink 00000010 - Disclosure - Leases link:presentationLink link:calculationLink link:definitionLink 00000011 - Disclosure - Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents link:presentationLink link:calculationLink link:definitionLink 00000012 - Disclosure - Debt Securities link:presentationLink link:calculationLink link:definitionLink 00000013 - Disclosure - Equity Investments link:presentationLink link:calculationLink link:definitionLink 00000014 - Disclosure - Fair Value Measurements link:presentationLink link:calculationLink link:definitionLink 00000015 - Disclosure - Acquisition of Versature Corp. link:presentationLink link:calculationLink link:definitionLink 00000016 - Disclosure - Other Operating Expense, Net link:presentationLink link:calculationLink link:definitionLink 00000017 - Disclosure - Equity link:presentationLink link:calculationLink link:definitionLink 00000018 - Disclosure - Loss Per Share link:presentationLink link:calculationLink link:definitionLink 00000019 - Disclosure - Revolving Credit Loan Payable link:presentationLink link:calculationLink link:definitionLink 00000020 - Disclosure - Accumulated Other Comprehensive Loss link:presentationLink link:calculationLink link:definitionLink 00000021 - Disclosure - Business Segment Information link:presentationLink link:calculationLink link:definitionLink 00000022 - Disclosure - Commitments and Contingencies link:presentationLink link:calculationLink link:definitionLink 00000023 - Disclosure - Other Income (Expense), Net link:presentationLink link:calculationLink link:definitionLink 00000024 - Disclosure - Recently Issued Accounting Standard Not Yet Adopted link:presentationLink link:calculationLink link:definitionLink 00000025 - Disclosure - Revenue Recognition (Tables) link:presentationLink link:calculationLink link:definitionLink 00000026 - Disclosure - Leases (Tables) link:presentationLink link:calculationLink link:definitionLink 00000027 - Disclosure - Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents (Tables) link:presentationLink link:calculationLink link:definitionLink 00000028 - Disclosure - Debt Securities (Tables) link:presentationLink link:calculationLink link:definitionLink 00000029 - Disclosure - Equity Investments (Tables) link:presentationLink link:calculationLink link:definitionLink 00000030 - Disclosure - Fair Value Measurements (Tables) link:presentationLink link:calculationLink link:definitionLink 00000031 - Disclosure - Acquisition of Versature Corp. (Tables) link:presentationLink link:calculationLink link:definitionLink 00000032 - Disclosure - Other Operating Expense, Net (Tables) link:presentationLink link:calculationLink link:definitionLink 00000033 - Disclosure - Loss Per Share (Tables) link:presentationLink link:calculationLink link:definitionLink 00000034 - Disclosure - Accumulated Other Comprehensive Loss (Tables) link:presentationLink link:calculationLink link:definitionLink 00000035 - Disclosure - Business Segment Information (Tables) link:presentationLink link:calculationLink link:definitionLink 00000036 - Disclosure - Other Income (Expense), Net (Tables) link:presentationLink link:calculationLink link:definitionLink 00000037 - Disclosure - Revenue Recognition (Details) link:presentationLink link:calculationLink link:definitionLink 00000038 - Disclosure - Revenue Recognition (Details 1) link:presentationLink link:calculationLink link:definitionLink 00000039 - Disclosure - Revenue Recognition (Details 2) link:presentationLink link:calculationLink link:definitionLink 00000040 - Disclosure - Revenue Recognition (Details 3) link:presentationLink link:calculationLink link:definitionLink 00000041 - Disclosure - Revenue Recognition (Details 4) link:presentationLink link:calculationLink link:definitionLink 00000042 - Disclosure - Leases (Details) link:presentationLink link:calculationLink link:definitionLink 00000043 - Disclosure - Leases (Details 1) link:presentationLink link:calculationLink link:definitionLink 00000044 - Disclosure - Leases (Details 2) link:presentationLink link:calculationLink link:definitionLink 00000045 - Disclosure - Leases (Details Textual) link:presentationLink link:calculationLink link:definitionLink 00000046 - Disclosure - Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents (Details) link:presentationLink link:calculationLink link:definitionLink 00000047 - Disclosure - Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents (Details Textual) link:presentationLink link:calculationLink link:definitionLink 00000048 - Disclosure - Debt Securities (Details) link:presentationLink link:calculationLink link:definitionLink 00000049 - Disclosure - Debt Securities (Details 1) link:presentationLink link:calculationLink link:definitionLink 00000050 - Disclosure - Debt Securities (Details Textual) link:presentationLink link:calculationLink link:definitionLink 00000051 - Disclosure - Equity Investments (Details) link:presentationLink link:calculationLink link:definitionLink 00000052 - Disclosure - Equity Investments (Details 1) link:presentationLink link:calculationLink link:definitionLink 00000053 - Disclosure - Equity Investments (Details 2) link:presentationLink link:calculationLink link:definitionLink 00000054 - Disclosure - Equity Investments (Details Textual) link:presentationLink link:calculationLink link:definitionLink 00000055 - Disclosure - Fair Value Measurements (Details) link:presentationLink link:calculationLink link:definitionLink 00000056 - Disclosure - Fair Value Measurements (Details 1) link:presentationLink link:calculationLink link:definitionLink 00000057 - Disclosure - Fair Value Measurements (Details Textual) link:presentationLink link:calculationLink link:definitionLink 00000058 - Disclosure - Acquisition of Versature Corp. (Details) link:presentationLink link:calculationLink link:definitionLink 00000059 - Disclosure - Acquisition of Versature Corp. (Details Textual) link:presentationLink link:calculationLink link:definitionLink 00000060 - Disclosure - Other Operating Expense, Net (Details) link:presentationLink link:calculationLink link:definitionLink 00000061 - Disclosure - Other Operating Expense, Net (Details 1) link:presentationLink link:calculationLink link:definitionLink 00000062 - Disclosure - Other Operating Expense, Net (Details Textual) link:presentationLink link:calculationLink link:definitionLink 00000063 - Disclosure - Equity (Details) link:presentationLink link:calculationLink link:definitionLink 00000064 - Disclosure - Loss Per Share (Details) link:presentationLink link:calculationLink link:definitionLink 00000065 - Disclosure - Revolving Credit Loan Payable (Details) link:presentationLink link:calculationLink link:definitionLink 00000066 - Disclosure - Accumulated Other Comprehensive Loss (Details) link:presentationLink link:calculationLink link:definitionLink 00000067 - Disclosure - Business Segment Information (Details) link:presentationLink link:calculationLink link:definitionLink 00000068 - Disclosure - Business Segment Information (Details Textual) link:presentationLink link:calculationLink link:definitionLink 00000069 - Disclosure - Commitments and Contingencies (Details) link:presentationLink link:calculationLink link:definitionLink 00000070 - Disclosure - Other Income (Expense), Net (Details) link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 8 idt-20191031_cal.xml XBRL CALCULATION FILE EX-101.DEF 9 idt-20191031_def.xml XBRL DEFINITION FILE EX-101.LAB 10 idt-20191031_lab.xml XBRL LABEL FILE Class of Stock [Axis] Common Class B Common Class A Equity Components [Axis] Noncontrolling Interest [Member] Consolidated Entities [Axis] Parent Company [Member] AOCI Attributable to Parent [Member] Legal Entity [Axis] Telecom Operator [Member] Major Type Of Debt And Equity Securities [Axis] Certificates Of Deposit [Member] Municipal Bonds [Member] Zedge Inc [Member] Rafael Spin Off [Member] Visa Series C Preferred [Member] Other Comprehensive Income Location [Axis] Other [Member] Asset Class [Axis] Equity Method Investments [Member] Visa Series C Convertible Participating Preferred Stock [Member] Fair Value By Measurement Frequency [Axis] Fair Value Measurements Recurring [Member] Fair Value By Fair Value Hierarchy Level [Axis] Fair Value Inputs Level 1 [Member] Fair Value Inputs Level 2 [Member] Fair Value Inputs Level 3 [Member] Accumulated Translation Adjustment [Member] Accumulated Net Unrealized Investment Gain (Loss) [Member] Accumulated Other Comprehensive [Member] Additional Paid-in Capital [Member] Treasury Stock [Member] Retained Earnings [Member] Rafael Holdings Inc [Member] Investment Type [Axis] Hedge Funds [Member] Mutual funds [Member] Restatement [Axis] Previously Reported [Member] Restated [Member] Adjustments for Error Corrections [Axis] Error Correction [Member] Product and Service [Axis] Boss Revolution Calling [Member] Segments [Axis] Telecom And Payment Service [Member] Wholesale Carrier Services [Member] Mobile Top Up [Member] Total Telecom And Payment Services Other [Member] Total Telecom And Payment Services Growth [Member] Net Two Phone Unified Communications As Service [Member] Net Two Phone Unified Communications As Service Segment [Member] Net2phone-Platform Services [Member] Geographical [Axis] UNITED STATES UNITED KINGDOM NETHERLANDS Other Countries [Member] Award Type [Axis] Contract Liabilities [Member] Rafael Spin-Off [Member] Related Party [Axis] Straight Path [Member] Share Repurchase Program [Axis] 2015 Stock Option and Incentive Plan [Member] Antidilutive Securities [Axis] Stock options [Member] Non-vested restricted Class B common stock [Member] Consolidation Items [Axis] Operating Segments [Member] Telecom And Payment Services [Member] net2phone [Member] Corporate Segment [Member] Adjustments for New Accounting Pronouncements [Axis] Accounting Standards Update 2016-02 [Member] IDT Financial Services Limited [Member] Statement [Table] Statement [Line Items] Class A common stock Class B common stock Entity Registrant Name Entity Central Index Key Amendment Flag Current Fiscal Year End Date Document Type Document Period End Date Document Fiscal Period Focus Document Fiscal Year Focus Entity Current Reporting Status Entity Filer Category Entity Small Business Entity Shell Company Entity Emerging Growth Company Entity Ex Transition Period Entity File Number Entity Interactive Data Current Entity Incorporation State Country Code Entity Common Stock Shares Outstanding ASSETS CURRENT ASSETS: Cash and cash equivalents Restricted cash and cash equivalents Debt securities Equity investments Trade accounts receivable, net of allowance for doubtful accounts of $5,675 at October 31, 2019 and $5,444 at July 31, 2019 Prepaid expenses Other current assets Total current assets Property, plant and equipment, net Goodwill Other intangibles, net Equity investments Operating lease right-of-use assets Deferred income tax assets, net Other assets Total assets Liabilities and equity Current liabilities: Trade accounts payable Accrued expenses Deferred revenue Customer deposits Other current liabilities Total current liabilities Operating lease liabilities Other liabilities Total liabilities Commitments and contingencies IDT Corporation stockholders' equity: Preferred stock, $.01 par value; authorized shares—10,000; no shares issued Common stock, value Additional paid-in capital Treasury stock, at cost, consisting of 1,698 shares of Class A common stock and 908 shares of Class B common stock at October 31, 2019 and July 31, 2019 Accumulated other comprehensive loss Accumulated deficit Total IDT Corporation stockholders' equity Noncontrolling interests Total equity Total liabilities and equity Allowance for doubtful accounts Preferred stock, par value Preferred stock, authorized shares Preferred stock, shares issued Common stock, par value Common stock, shares authorized Common stock, shares issued Common stock, shares outstanding Treasury stock, common stock shares Income Statement [Abstract] Revenues Costs and expenses: Direct cost of revenues (exclusive of depreciation and amortization) Selling, general and administrative Depreciation and amortization Severance Total costs and expenses Other operating expense, net (see Note 9) (Loss) income from operations Interest income, net Other income (expense), net Loss before income taxes Provision for income taxes Net loss Net income attributable to noncontrolling interests Net loss attributable to IDT Corporation Basic and diluted loss per share attributable to IDT Corporation common stockholders Weighted-average number of shares used in calculation of basic and diluted loss per share (i) Stock-based compensation included in selling, general and administrative expenses Statement of Comprehensive Income [Abstract] Net loss Other comprehensive (loss) income: Change in unrealized gain on available-for-sale securities Foreign currency translation adjustments Other comprehensive (loss) income Comprehensive loss Comprehensive income attributable to noncontrolling interests Comprehensive loss attributable to IDT Corporation IDT Corporation Stockholders Class A Common Stock Class B Common Stock Additional Paid-In Capital Treasury Stock Accumulated Other Comprehensive Loss Accumulated Deficit Noncontrolling Interests Beginning Balance Beginning Balance, Shares Exercise of stock options Adjustment from the adoption of change in revenue recognition Adjustment from the adoption of change in accounting for equity investments BALANCE AT AUGUST 1, 2018 BALANCE AT AUGUST 1, 2018, Shares Repurchases of Class B common stock through repurchase program Stock-based compensation Stock-based compensation, Shares Distributions to noncontrolling interests Other comprehensive loss/income Correction of noncontrolling interests (see Note 18) EX-101.PRE 11 idt-20191031_pre.xml XBRL PRESENTATION FILE XML 12 R51.htm IDEA: XBRL DOCUMENT

Equity Investments (Details) - USD ($) $ in Thousands	Oct. 31, 2019	Jul. 31, 2019
Equity Securities without Readily Determinable Fair Value [Line Items]
Current "Equity investments"	$ 5,710	$ 5,688
Noncurrent "Equity investments"	9,337	9,319
Other [Member]
Equity Securities without Readily Determinable Fair Value [Line Items]
Noncurrent "Equity investments"	225	225
Mutual funds [Member]
Equity Securities without Readily Determinable Fair Value [Line Items]
Current "Equity investments"	5,160	5,053
Hedge Funds [Member]
Equity Securities without Readily Determinable Fair Value [Line Items]
Noncurrent "Equity investments"	5,475	5,475
Visa Series C Preferred [Member]
Equity Securities without Readily Determinable Fair Value [Line Items]
Noncurrent "Equity investments"	3,637	3,619
Zedge, Inc. [Member] \| Common Class B
Equity Securities without Readily Determinable Fair Value [Line Items]
Current "Equity investments"	74	68
Rafael Holdings, Inc [Member] \| Common Class B
Equity Securities without Readily Determinable Fair Value [Line Items]
Current "Equity investments"	$ 476	$ 567

XML 13 R55.htm IDEA: XBRL DOCUMENT

Fair Value Measurements (Details) - USD ($)
$ in Thousands

Oct. 31, 2019

Jul. 31, 2019

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Debt securities

$ 9,894

$ 2,534

Equity investments included in current assets

5,710

5,688

Equity investments included in noncurrent assets

3,637

3,619

Total

19,241

11,841

Fair Value Measurements, Recurring basis [Member] | Level 1 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Debt securities

^[1]

Equity investments included in current assets

5,710

5,688

^[1]

Equity investments included in noncurrent assets

^[1]

Total

5,710

5,688

^[1]

Fair Value Measurements, Recurring basis [Member] | Level 2 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Debt securities

9,894

2,534

^[2]

Equity investments included in current assets

^[2]

Equity investments included in noncurrent assets

^[2]

Total

9,894

2,534

^[2]

Fair Value Measurements, Recurring basis [Member] | Level 3 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Debt securities

^[3]

Equity investments included in current assets

^[3]

Equity investments included in noncurrent assets

3,637

3,619

^[3]

Total

$ 3,637

$ 3,619

^[3]

[1]	quoted prices in active markets for identical assets or liabilities
[2]	observable inputs other than quoted prices in active markets for identical assets and liabilities
[3]	no observable pricing inputs in the market

XML 14 R59.htm IDEA: XBRL DOCUMENT

Acquisition of Versature Corp. (Details Textual) $ in Thousands	Sep. 14, 2018 USD ($)
Acquisition of Versature Corp (Textual)
Cash paid	$ 5,900
Acquired outstanding shares percentage	100.00%

XML 15 R13.htm IDEA: XBRL DOCUMENT

Equity Investments

3 Months Ended

Oct. 31, 2019

Equity Investments [Abstract]

Equity Investments

Note 6—Equity Investments

Equity investments consist of the following:

	October 31, 2019		July 31, 2019
	(in thousands)
Zedge, Inc. Class B common stock, 42,282 shares at October 31, 2019 and July 31, 2019	$	74	$	68
Rafael Holdings, Inc. Class B common stock, 27,419 shares at October 31, 2019 and July 31, 2019		476		567
Mutual funds		5,160		5,053
Current "Equity investments"	$	5,710	$	5,688

Visa Inc. Series C Convertible Participating Preferred Stock ("Visa Series C Preferred")	$	3,637	$	3,619
Hedge funds		5,475		5,475
Other		225		225
Noncurrent "Equity investments"	$	9,337	$	9,319

On June 1, 2016, the Company completed a pro rata distribution of the common stock that the Company held in the Company's subsidiary Zedge, Inc. to the Company's stockholders of record as of the close of business on May 26, 2016. On March 26, 2018, the Company completed a pro rata distribution of the common stock that the Company held in the Company's subsidiary Rafael Holdings, Inc. ("Rafael") to the Company's stockholders of record as of the close of business on March 13, 2018. The Company received the Zedge and Rafael shares in connection with the lapsing of restrictions on Zedge and Rafael restricted stock held by certain of the Company's employees and the Company's payment of taxes related thereto.

The changes in the carrying value of the Company's equity investments without readily determinable fair values for which the Company elected the measurement alternative was as follows:

	Three Months Ended October 31,
	2019		2018
	(in thousands)
Balance, beginning of period	$	3,919	$	1,883
Adoption of change in accounting for equity investments		—		1,213
Adjusted balance		3,919		3,096
Adjustment for observable transactions involving a similar investment from the same issuer		18		22
Impairments		—		—
Balance, end of the period	$	3,937	$	3,118

Unrealized gains and losses for all equity investments included the following:

	Three Months Ended October 31,
	2019		2018
	(in thousands)
Net gains (losses) recognized during the period on equity investments	$	26	$	(46	)
Less: net gains and losses recognized during the period on equity investments sold during the period		—		—
Unrealized gains (losses) recognized during the period on equity investments still held at the reporting date	$	26	$	(46	)

XML 16 R17.htm IDEA: XBRL DOCUMENT

Equity

3 Months Ended

Oct. 31, 2019

Equity [Abstract]

Equity

Note 10—Equity

Stock Repurchases

The Company has an existing stock repurchase program authorized by its Board of Directors for the repurchase of up to an aggregate of 8.0 million shares of the Company's Class B common stock. There were no repurchases under the program in the three months ended October 31, 2019. In the three months ended October 31, 2018, the Company repurchased 729,110 shares of Class B common stock for an aggregate purchase price of $3.9 million. At October 31, 2019, 6.9 million shares remained available for repurchase under the stock repurchase program.

2015 Stock Option and Incentive Plan

On September 12, 2019, the Company's Board of Directors amended the Company's 2015 Stock Option and Incentive Plan to increase the number of shares of the Company's Class B common stock available for the grant of awards thereunder by an additional 0.4 million shares. The amendment is subject to approval by the Company's stockholders at its annual meeting of stockholders on December 12, 2019.

XML 17 R38.htm IDEA: XBRL DOCUMENT

Revenue Recognition (Details 1) - USD ($) $ in Thousands	3 Months Ended
Revenue Recognition (Details 1) - USD ($) $ in Thousands	Oct. 31, 2019	Oct. 31, 2018
Outside the United States:
Total outside the United States	$ 113,058	$ 122,762
Revenues, Total	340,245	362,316
United States [Member]
Outside the United States:
Revenues, Total	227,187	239,554
United Kingdom [Member]
Outside the United States:
Total outside the United States	35,797	50,480
Netherlands [Member]
Outside the United States:
Total outside the United States	54,942	50,922
Other [Member]
Outside the United States:
Total outside the United States	22,319	21,360
Telecom & Payment Services [Member]
Outside the United States:
Total outside the United States	108,963	120,225
Revenues, Total	327,618	351,849
Telecom & Payment Services [Member] \| United States [Member]
Outside the United States:
Revenues, Total	218,655	231,624
Telecom & Payment Services [Member] \| United Kingdom [Member]
Outside the United States:
Total outside the United States	35,793	50,472
Telecom & Payment Services [Member] \| Netherlands [Member]
Outside the United States:
Total outside the United States	54,942	50,922
Telecom & Payment Services [Member] \| Other [Member]
Outside the United States:
Total outside the United States	18,228	18,831
net2phone [Member]
Outside the United States:
Total outside the United States	4,095	2,537
Revenues, Total	12,627	10,467
net2phone [Member] \| United States [Member]
Outside the United States:
Revenues, Total	8,532	7,930
net2phone [Member] \| United Kingdom [Member]
Outside the United States:
Total outside the United States	4	8
net2phone [Member] \| Netherlands [Member]
Outside the United States:
Total outside the United States
net2phone [Member] \| Other [Member]
Outside the United States:
Total outside the United States	$ 4,091	$ 2,529

XML 18 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 19 R34.htm IDEA: XBRL DOCUMENT

Accumulated Other Comprehensive Loss (Tables)

3 Months Ended

Oct. 31, 2019

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of accumulated balances for each classification of other comprehensive loss

	Unrealized Gain (Loss) on Available-for-Sale Securities		Foreign Currency Translation			Accumulated Other Comprehensive Loss
	(in thousands)
Balance, July 31, 2019	$	—	$	(4,858	)	$	(4,858	)
Other comprehensive loss attributable to IDT Corporation		—		(1,204	)		(1,204	)
Balance, October 31, 2019	$	—	$	(6,062	)	$	(6,062	)

XML 20 R30.htm IDEA: XBRL DOCUMENT

Fair Value Measurements (Tables)

3 Months Ended

Oct. 31, 2019

Fair Value Disclosures [Abstract]

Schedule of balance of assets measured at fair value on a recurring basis

	Level 1 (1)		Level 2 (2)		Level 3 (3)		Total
	(in thousands)
October 31, 2019
Debt securities	$	—	$	9,894	$	—	$	9,894
Equity investments included in current assets		5,710		—		—		5,710
Equity investments included in noncurrent assets		—		—		3,637		3,637
Total	$	5,710	$	9,894	$	3,637	$	19,241
July 31, 2019
Debt securities	$	—	$	2,534	$	—	$	2,534
Equity investments included in current assets		5,688		—		—		5,688
Equity investments included in noncurrent assets		—		—		3,619		3,619
Total	$	5,688	$	2,534	$	3,619	$	11,841

(1) – quoted prices in active markets for identical assets or liabilities

(2) – observable inputs other than quoted prices in active markets for identical assets and liabilities

(3) – no observable pricing inputs in the market

Schedule of assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3)

	Three Months Ended October 31,
	2019		2018
	(in thousands)
Balance, beginning of period	$	3,619	$	—
Transfer into Level 3 from adoption of change in accounting for equity investments		—		2,794
Total gains recognized in "Other income (expense), net"		18		22
Balance, end of period	$	3,637	$	2,816
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the period	$	18	$	22

XML 21 R21.htm IDEA: XBRL DOCUMENT

Business Segment Information

3 Months Ended

Oct. 31, 2019

Segment Reporting [Abstract]

Business Segment Information

Note 14—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.

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 are as follows:

(in thousands)	Telecom & Payment Services			net2phone			Corporate			Total
Three Months Ended October 31, 2019
Revenues	$	327,618		$	12,627		$	—		$	340,245
Income (loss) from operations		4,372			(3,263	)		(2,501	)		(1,392	)
Other operating expense, net		(2,150	)		(365	)		(260	)		(2,775	)

Three Months Ended October 31, 2018
Revenues	$	351,849		$	10,467		$	—		$	362,316
Income (loss) from operations		4,169			(1,500	)		(2,487	)		182
Other operating expense, net		(1,100	)		—			(195	)		(1,295	)

XML 22 R25.htm IDEA: XBRL DOCUMENT

Revenue Recognition (Tables)

3 Months Ended

Oct. 31, 2019

Revenue Recognition and Deferred Revenue [Abstract]

Schedule of revenues disaggregated by business segment and service offered to customers

	Three Months Ended October 31,
	2019		2018
	(in thousands)
Core Operations:
BOSS Revolution Calling	$	116,242	$	123,513
Carrier Services		113,517		142,222
Mobile Top-Up		76,815		65,346
Other		11,244		14,757
Growth		9,800		6,011
Total Telecom & Payment Services		327,618		351,849
net2phone-UCaaS		7,221		4,805
net2phone-Platform Services		5,406		5,662
Total net2phone		12,627		10,467
Total	$	340,245	$	362,316

Schedule of revenues disaggregated by geographic region

(in thousands)	Telecom & Payment Services		net2phone		Total
Three Months Ended October 31, 2019
United States	$	218,655	$	8,532	$	227,187
Outside the United States:
United Kingdom		35,793		4		35,797
Netherlands		54,942		—		54,942
Other		18,228		4,091		22,319
Total outside the United States		108,963		4,095		113,058
Total	$	327,618	$	12,627	$	340,245

(in thousands)	Telecom & Payment Services		net2phone		Total
Three Months Ended October 31, 2018
United States	$	231,624	$	7,930	$	239,554
Outside the United States:
United Kingdom		50,472		8		50,480
Netherlands		50,922		—		50,922
Other		18,831		2,529		21,360
Total outside the United States		120,225		2,537		122,762
Total	$	351,849	$	10,467	$	362,316

Schedule of information about contract liability balance

	Three Months Ended October 31,
	2019		2018
	(in thousands)
Revenue recognized in the period from amounts included in the contract liability balance at the beginning of the period	$	29,112	$	28,506

Schedule of deferred customer contract acquisition costs

	October 31, 2019		July 31, 2019
	(in thousands)
Deferred customer contract acquisition costs included in "Other current assets"	$	1,754	$	1,474
Deferred customer contract acquisition costs included in "Other assets"		1,916		1,716
Total	$	3,670	$	3,190

Schedule of amortization of deferred customer contract acquisition costs

	Three Months Ended October 31,
	2019		2018
	(in thousands)
Amortization of deferred customer contract acquisition costs	$	551	$	—

XML 23 R29.htm IDEA: XBRL DOCUMENT

Equity Investments (Tables)

3 Months Ended

Oct. 31, 2019

Equity Investments [Abstract]

Schedule of equity investments

	October 31, 2019		July 31, 2019
	(in thousands)
Zedge, Inc. Class B common stock, 42,282 shares at October 31, 2019 and July 31, 2019	$	74	$	68
Rafael Holdings, Inc. Class B common stock, 27,419 shares at October 31, 2019 and July 31, 2019		476		567
Mutual funds		5,160		5,053
Current "Equity investments"	$	5,710	$	5,688

Visa Inc. Series C Convertible Participating Preferred Stock ("Visa Series C Preferred")	$	3,637	$	3,619
Hedge funds		5,475		5,475
Other		225		225
Noncurrent "Equity investments"	$	9,337	$	9,319

Schedule of carrying value of equity investments

	Three Months Ended October 31,
	2019		2018
	(in thousands)
Balance, beginning of period	$	3,919	$	1,883
Adoption of change in accounting for equity investments		—		1,213
Adjusted balance		3,919		3,096
Adjustment for observable transactions involving a similar investment from the same issuer		18		22
Impairments		—		—
Balance, end of the period	$	3,937	$	3,118

Schedule of unrealized gains and losses for all equity investments

	Three Months Ended October 31,
	2019		2018
	(in thousands)
Net gains (losses) recognized during the period on equity investments	$	26	$	(46	)
Less: net gains and losses recognized during the period on equity investments sold during the period		—		—
Unrealized gains (losses) recognized during the period on equity investments still held at the reporting date	$	26	$	(46	)

XML 24 R48.htm IDEA: XBRL DOCUMENT

Debt Securities (Details) - USD ($)
$ in Thousands

Oct. 31, 2019

Jul. 31, 2019

Available-for-sale debt securities:

Amortized Cost

$ 2,534

Gross Unrealized Gains

Gross Unrealized Losses

Fair Value

$ 9,894

2,534

Certificates of deposit [Member]

Available-for-sale debt securities:

Amortized Cost

^[1]

9,894

2,234

Gross Unrealized Gains

^[1]

Gross Unrealized Losses

^[1]

Fair Value

^[1]

$ 9,894

2,234

Municipal bonds [Member]

Available-for-sale debt securities:

Amortized Cost

300

Gross Unrealized Gains

Gross Unrealized Losses

Fair Value

$ 300

[1]	Each of the Company's certificates of deposit has a CUSIP, was purchased in the secondary market through a broker, and may be sold in the secondary market.

XML 25 R44.htm IDEA: XBRL DOCUMENT

Leases (Details 2) $ in Thousands	Oct. 31, 2019 USD ($)
Lessee, Operating Lease, Liability, Payment, Due, Rolling Maturity [Abstract]
2020	$ 2,776
2021	2,637
2022	2,438
2023	1,996
2024	1,880
Thereafter	986
Total lease payments	12,713
Less imputed interest	(961)
Total operating lease liabilities	$ 11,752

XML 27 R40.htm IDEA: XBRL DOCUMENT

Revenue Recognition (Details 3) - USD ($) $ in Thousands	Oct. 31, 2019	Jul. 31, 2019
Revenue Recognition and Deferred Revenue [Abstract]
Deferred customer contract acquisition costs included in "Other current assets"	$ 1,754	$ 1,474
Deferred customer contract acquisition costs included in "Other assets"	1,916	1,716
Total	$ 3,670	$ 3,190

XML 28 R3.htm IDEA: XBRL DOCUMENT

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Oct. 31, 2019	Jul. 31, 2019
Allowance for doubtful accounts	$ 5,675	$ 5,444
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, authorized shares	10,000	10,000
Preferred stock, shares issued
Common Class A
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	35,000	35,000
Common stock, shares issued	3,272	3,272
Common stock, shares outstanding	1,574	1,574
Treasury stock, common stock shares	1,698	1,698
Common Class B
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	200,000	200,000
Common stock, shares issued	25,836	25,803
Common stock, shares outstanding	24,928	24,895
Treasury stock, common stock shares	908	908

XML 29 R7.htm IDEA: XBRL DOCUMENT

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2019	Oct. 31, 2018
Operating activities
Net loss	$ (1,422)	$ (1,998)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	5,295	5,594
Deferred income taxes	479	1,117
Provision for doubtful accounts receivable	549	447
Stock-based compensation	1,364	413
Other	(34)	46
Change in assets and liabilities:
Trade accounts receivable	7,975	97
Prepaid expenses, other current assets and other assets	(9,166)	(8,766)
Trade accounts payable, accrued expenses, other current liabilities and other liabilities	(10,012)	6,919
Customer deposits at IDT Financial Services Limited, our Gibraltar-based bank	1,793	5,567
Deferred revenue	(1,798)	(1,206)
Net cash (used in) provided by operating activities	(4,977)	8,230
Investing activities
Capital expenditures	(3,851)	(4,463)
Payment for acquisition, net of cash acquired		(5,453)
Purchases of debt securities and equity investments	(8,195)
Proceeds from maturities and sales of debt securities and sales of equity investments	782	3,372
Net cash used in investing activities	(11,264)	(6,544)
Financing activities
Distributions to noncontrolling interests	(240)	(339)
Repayment of other liabilities	(19)	(599)
Proceeds from exercise of stock options	276
Repurchases of Class B common stock		(3,854)
Net cash provided by (used in) financing activities	17	(4,792)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash and cash equivalents	11,426	(4,590)
Net decrease in cash, cash equivalents, and restricted cash and cash equivalents	(4,798)	(7,696)
Cash, cash equivalents, and restricted cash and cash equivalents at beginning of period	257,199	203,197
Cash, cash equivalents, and restricted cash and cash equivalents at end of period	$ 252,401	$ 195,501

XML 30 R63.htm IDEA: XBRL DOCUMENT

Equity (Details) - USD ($) $ in Thousands		3 Months Ended
Equity (Details) - USD ($) $ in Thousands	Sep. 12, 2019	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2017
Equity (Textual)
Proceeds from the exercise of stock options		$ 276
Common Class B
Equity (Textual)
Repurchase of aggregate shares		8,000,000
Class B common stock shares repurchased			729,110
Aggregate purchase price of shares repurchased			$ 3,900
Shares remained available for repurchase under the stock repurchase program		6,900,000
Common Class B \| 2015 Stock Option and Incentive Plan [Member]
Equity (Textual)
Number of common stock available for grant of awards	400,000
Proceeds from the exercise of stock options				$ 300
Proceeds from the exercise of stock options, shares				32,551

XML 31 R67.htm IDEA: XBRL DOCUMENT

Business Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2019	Oct. 31, 2018
Segment Reporting Information [Line Items]
Revenues	$ 340,245	$ 362,316
Income (loss) from operations	(1,392)	182
Other operating expense, net	(2,775)	(1,295)
Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	340,245	362,316
Income (loss) from operations	(1,392)	182
Other operating expense, net	(2,775)	(1,295)
Operating Segments [Member] \| Telecom & Payment Services [Member]
Segment Reporting Information [Line Items]
Revenues	327,618	351,849
Income (loss) from operations	4,372	4,169
Other operating expense, net	(2,150)	(1,100)
Operating Segments [Member] \| net2phone [Member]
Segment Reporting Information [Line Items]
Revenues	12,627	10,467
Income (loss) from operations	(3,263)	(1,500)
Other operating expense, net	(365)
Operating Segments [Member] \| Corporate [Member]
Segment Reporting Information [Line Items]
Revenues
Income (loss) from operations	(2,501)	(2,487)
Other operating expense, net	$ (260)	$ (195)

XML 32 R28.htm IDEA: XBRL DOCUMENT

Debt Securities (Tables)

3 Months Ended

Oct. 31, 2019

Investments, Debt and Equity Securities [Abstract]

Schedule of marketable debt securities

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
	(in thousands)
October 31, 2019:
Certificates of deposit*	$	9,894	$	—	$	—	$	9,894

July 31, 2019:
Certificates of deposit*	$	2,234	$	—	$	—	$	2,234
Municipal bonds		300		—		—		300
Total	$	2,534	$	—	$	—	$	2,534

Each of the Company's certificates of deposit has a CUSIP, was purchased in the secondary market through a broker, and may be sold in the secondary market.

Schedule of available-for-sale debt securities

	Fair Value
	(in thousands)
Within one year	$	8,694
After one year through five years		1,200
After five years through ten years		—
After ten years		—
Total	$	9,894

XML 33 R20.htm IDEA: XBRL DOCUMENT

Accumulated Other Comprehensive Loss

3 Months Ended

Oct. 31, 2019

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Loss

Note 13—Accumulated Other Comprehensive Loss

The accumulated balances for each classification of other comprehensive loss were as follows:

	Unrealized Gain (Loss) on Available-for-Sale Securities		Foreign Currency Translation			Accumulated Other Comprehensive Loss
	(in thousands)
Balance, July 31, 2019	$	—	$	(4,858	)	$	(4,858	)
Other comprehensive loss attributable to IDT Corporation		—		(1,204	)		(1,204	)
Balance, October 31, 2019	$	—	$	(6,062	)	$	(6,062	)

XML 34 R24.htm IDEA: XBRL DOCUMENT

Recently Issued Accounting Standard Not Yet Adopted

3 Months Ended

Oct. 31, 2019

New Accounting Pronouncements and Changes in Accounting Principles [Abstract]

Recently Issued Accounting Standard Not Yet Adopted

Note 17—Recently Issued Accounting Standard Not Yet Adopted

XML 35 R45.htm IDEA: XBRL DOCUMENT

Leases (Details Textual) $ in Thousands	3 Months Ended
Leases (Details Textual) $ in Thousands	Oct. 31, 2019 USD ($)
Accounting Standards Update 2016-02 [Member]
Leases (Textual)
ASU 2016-02 Adoption	$ 12,400

ZIP 36 0001213900-19-025764-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001213900-19-025764-xbrl.zip M4$L#!!0 ( "B'BD\HM:%E":D U+"@ 0 :61T+3(P,3DQ,#,Q+GAM M;.R]:7?;.+8H^OVN=?\#KT\/J;=D1Z3FU'"7X\0I]TEB']OION=\R8))R&(7 M1:HYV%'_^H>!E$B* TB"DX3N6E6R1 )[PL;&QAY^^;\_UH;T FU'M\Q?S^2+ MX9D$3=72=//YU[-O#^>7#UR?I;\#P\/?6/_O_?UG]"<=_YTTN9!5Z?R<8;"_ M0U.S[&_W-[O!5JZ[>??V[>OKZX5IO8!7R_[#N5 MMN$>+,]6X6XL77/_K'Q0 MAO)"'H[DBQ]+!/,'X*)?\'?H)UE!_QHN'I71.V7V3AG_#^,T+G ]9S?-\,=\ M.'P_' ZOZ>N__'BR#?T=_K>$Z&XZ[WXX^J]G(1Q>6_?Q6&0[EM__OR^<' M=077X%PW'1>8*CP+WC)T\X^D]^3%8O&6_!H\>O DGCR88_06__P$G/W(&,", MYP\@0;]J[NZ%\,.3M_3'R*-ZXJ-3^J@>/*K!V',.5"^>K9>WZ(>WF$/G0_E\ M) >/VW"9"O+T+?HU>%!WK+$BS[+PHT\$+WC.^3, F]T+2^ \D8?]'Q* 0;_8 ME@&=Q'?(+PDOF99I>NMDN#37?NMN-_ M>N@P@;^C(!+#TD>.CS MA0GI4WA)GP6+%0OX.X+.=^K $<[\W_%9/CUS-'7&P/) M^=M@)+IV51_/UOGO$=C3A_' Z_TW\>;Q._ M#\#;#0M-5W>WNV]WW^L:_F6I0ULB2, (NP-J7MW\Y]EO2,W(:-7-1O(O;^,O M[Z=[FSB?/]L&B8JE)4!!5KW[&\;A?#@[#TWA_Q(?/S)2\*5/NW2"7CJW2\)G M>8CF^.XOLN]7UGIMF5<&<)SW7^#Z"=JMT6\WL .?US"$^.XG#0'S8V/HJNY2 M6"5-1T_2_=7'Z!W>)R!^GR!UNWQP+?6/RQ^Z<_9;\,@ATK^\31P_#-O;9. J M<]WG2,U<)Y*5Q/7+4^3Z90>X7N-:+Z\\O^_H^/%?'L(,T6QCF>A/!]/R^U?+ MQ/.@K19I\^<;-(N-MIHCDZ DS/=2E$6"%N6IUKVC@CRA5QW+T#5$6^TC1DZ' M5)3N@(U7*Z(R,+>43M]3%_$1*2QD;[U+(\K9;_C7!,KD"]8QZ\K3D>V>FV"] MD^WVK;^NRG:V'7"IJM[:,S"/;]T5M/'/-EQA9KS &[1!KJ$O]D762%_%OJ % MP4P\/BNCID5Y)"OBTGO&DC^+KXC#[S_#9V 0XFV) #]" R)>W6ZH8[;?(JQ! M_5T,P;/?=,U]EXAEB](Q.Q_.&SHM]]>15.OA,LVE &V,AHI4#'K@ ]Q8CM[S MDR&6_R_@GY;]N-U C-.3>VEJ5+D_0-6S0WIT9URDD^%8O0TI O'%,Q&2&V"\ MMTS-.3U)2,+_1$1 ]1S76G__'Z@]8X/&-P6/S^6 !H/.^SL;+J%M0XW0J-\"5X#]&=B?F!R0(_X- MN9+'R/3<$ KXF^:X^&PARQ<]&96&9!H. ^D"(]X& M:FM^@>[*THY.FE+1WHM0)O['ZJU*42E"%KHI"TUL+]/SX?1\- PLW;_K#J![ M[152.R_8^?!DP#N _HO/GJYN/I^8!8(-X))4:5%T?+8VJD9V*^W&W'BN\QF^ M0$..G99VSWR!P/%L0G/G'GL\;$3$XQ"FD,8)87EMPW]YT%2W4=W#0A"^AZT0 M>+N/OR,R %M=;0G34B \9.N1ZT86 5>$@!^C@"M"P'U*C(2 'Z. CXY;P/F< MF3.HF[56CDC\>RQ?;9RDA5!T7"B:V%7G- &CO^$>\W8S2'I^C28NM=BY'@I= M?+2!Z1C4V:_]TZ,^N".3!.8XS@QBG*Z$?(7N-].&P-#_#4-^VD] -S];SI&X MJXO+"A-93D1J?"]V9D3T2<@)]EHS4.'HQ2(U.;GG65]]3;VJ-3GYVK;6]."' M_I%=J[>V."**[>(:)[_MT=FQ9/?;P6O0U/8O1>@<_-*Z;.(^WH=MC(>^'\IY )B'E_9'R M>^BB4PFB+K!-W7QVA*"G"7HRI82LUWV 1-@G9ML?WPFB=[GU73B\=%(0>^XO M[YT@GJBK/O-LEB*N?95)<0SKHX@F':).6S#%>:D;5UW^HM2MSJ$;SKN=7;12_V MD;91=V&82+5?,>=',B;7KSD:E<77:<(" K;BP; MG9O[+0+XG'^/F._O2?O#?Q["_=L;:@U0S!&?,(F/)-4D57(R?2U.X0^>P[0L2]S#@A27J_#?WA/VAJEVO< M7FYOQR:22PA=1J)"?YTN3<3U+R('USX2+"*,BW)'JL:$4<3"=3<$J0NQ<*TL M>!$7UUVA;"DN[FB5JI#?DY#?#BA5$>,I8CR/4]T*R1:2W4-%+"*9121S_Y6N MD&(AQ1U5L"(V7\3FGY8R%A(O)/X(%+?(3!&9*<>BDH4L"UGNM+(5&5>=RKCJ MIY830M0I(6J_&*<(+.GN'6A+@27]B-(3\BODM]WF&7R4J@@L.8G DJ-5JD)^ M3T)^.Z!41?B("!\Y3G4K)%M(=@\5L0@I$2$E_5>Z0HJ%%'=4P8HP$1$F?-S^!W&?8-D+NA=R?HH7SQ7K2#?AH M;;YMA*@?$$-(=[^UNI!N(=W'J[L?+1<8:31UR&6HD'IF(HG5T&]=+U:#6 UB M;V!;#9]LZ]5=B>7 3B6Q'HYY=Q#K0:R'(]P?,M;#5^@^OEIW*\N$WTPL81I. MK/1,706TW9(3H6_AUWP&'O-B*4C"QE=,.5Z)E51\)2F$R'<&<)>6O4Z^.A K M)R*96203*Z7'*R7C3'):2^"XY:^/9P A?\M_X3E(&QNHC)5B>:9K;[]_>^BS/.\$Z1.TGFVP M62'Q,*@0^0B^^_8@A()Y.Q9"(?;4-$WQZ?V1"\6G]T)3%-440BB$ICC0%%\_ M'[E0?/TL-$5132&$0FB*A-/'<;N .)JCI^-QZJ5Z$Y(L)/G8=/+I^4>[*>'" M%\I/\METN)!$?FGI/,_O1?6"Z.SYW2LEU[J<"')0I*/32<+:Z0;$MY#:Z3G M.EQ(OI#\4]+Y7S\+ZX7Q*N5TK)=>ZG AR4*2CTTG"VND&Q+>0VNDYSI<2+Z0 M_)/0^53<_49VF,WZZ=2@SA!Y+'M)1!'&35]5O!!T(>@GKM&%" OE6%0Y"ID1 M>J:LY2@.45W<:'MXI#H692H6AE@8)[]C7.%&IT!U/^O@23=(>^5^RW<@8A\0 MP5Z0J+S &]-Q;0\/=:\[?^PE+!5UH5T+:E;["DV1+XIV4_;C<0X_3D7IH:[3C] %7/#O6P#^0L@PQ- MRU&HX71,(/@VG(X)A*])_@=JSVBMJ;Z%MA,3M/5;YI4!'.=]OZ5#@_J[S_ 9 M&!$O'M%$L6\)G.+4/!V^>!:ZA\Q"3R@\&D)WCU8 F@\;'3S=KD\/>E+0%^( M8%,B&,C9%\_U@''MF5J_I2Q@Z(WY AT7#X"WPBBSX[B>&*O1V149 >_O;+B$ MM@TULAR.@^L,*ST#^Q.3@]_QKH]7P9$N- M#5?X-WQ25JTU_&Q1/UU4!))I<*R"D.$X"82"'@N_0'=E:4J-7/7O M2"5DJ4.RU'*\@1"*C@M%RX[G!]<&^O/*O0/NZCC$XAX:2-5JV$^W?;2!Z0"5 M9+>_WX9_V;OY#BD@S)B"_F,A1!T3HN[9++X0S4)"-&,.(WE\M1Y7EN< 4[O6 MERZ$)O&WWVY(.+RIW9@J)M8+O#. >1P"V&*(R0Z$%;#A/=QX:#\%#KRS<6&3 M=:B@77&NM+HH9F46Q:SEV*J/ZXUA;2$,D?8X!/P2C:OIAH<%9)_#__&':G@: MU#!E< J,YY*4E]OE1V";.+#I#MI$+M]ODP>(19NF44]L\87S((0@'IT@=M9, MR#BP?+5(U#C4[M&_;5U%G^@62+?#(PI/J%4P23TP9E(*=5GP1"2D]-2DM%>Z M--C4+U756WOD0/L5NM],&P)#_S<,9>9\ KKYV7*.)$%I=ZJB:4A8,BT3[HHD M[F2Z(%F$>JP@>,2]8M#,=NV?'J7OJ8I;!C&$D!6T%$-D/2RINQ ME,Y"/=^(<%G]*\MT+$/7B**X05(4TR@IE.%\$5:^N5,7#HB]]$P(D1#H<]:K?4&^4SF*O M=-!G61%I,"(-IBEMNBBA38F0MADOAILGXWW)180&MN9\VZ!-#*)GI\,C*96T MOPAWKBW[*WS=8XVDSD0?59AP1&"B3=LBU\T-/$GDD)7T_0XM>:1SK/4&F-N# M@_!.WUSV6^ZB]B#4/F*P=['7^-<$.M1T"F;2[Y="EIGC2FX^/%[K)C!5'1C! MS=QG?:TC/O=?:I$ZU#S5O;5]S/:[<2[:QQI&LI."X4Q(0;>E@'"H[A@SY7PX M/<(]JU<;1W3M8XZTQ77A@C@.KGNF3EG^[>'# 3/7M*;D;[ICC15Y]@X]$PP6 M_!2= H^6,KZ#3[U.ZA0^O= \'U'J'\G)^R#J33]!0G2(7GQZU^]-793 M6@EF9P$RQ,%,&C4TZ0=H6FNTJ^1,FT^:^+Q) P>_1ZC 0%/?;9LN&[A8#7VF M--\V7@*[HNCC1]C'#];N)\O27G7#D'S9OX?+N&%S)N$7R0]X"4@:5/4U,)Q? MS\Y'9[_)LC)<((7TR]OXD,6F(G9:[E3RF&DJT@K-*8W3>#R:#4>1F>B(1>9A M0&@\60S13 SS:)J.?5O N .Z=F->@8WN@O),4V:CD1Q#,'F*2I PD$"9C1>3 M/X$=I6IV/YY-Y%,!B,]<'>-&4EV/"DRTA+(;Q#T=_ M9^K&KV>N[<$SZ6V-(!?(->DA6QA6]OET.%6Z"7B_Y*E4=EMO6<-MW?#&D1Q\ M5I:A0=NA657H'I& M4+^BG[]?.M]OE]\1\G_SC._X/O1Q./Q._WF\3?P^&W>\MT?W5#[ =YHDWS-S MWKXGS\TB2=/1XN1HF79'D7A-D^HB2'*"90ONZ4DM?TJ_9Z&T,IF>'*FS%03# M]N!SH0C+\HR[Q4SI)Q^*'*$FH\EDUFLTYRP6[VBJS,?]1+.^595\F.>^DI3% M>#CNJ8S51OQ'F_@!MZ&";3R5UWPR60B21TE^#UUT8D2D]8ON\:>Z/!O)?;7N M8SZ2$G$_1VD^EB<+HZTW/PJZ[%P@F7M*"O4*.\3[3J4DY5^*-N<3I')Z>@3. M]R/GV/KE*';@L^T[P5*VM7+4D:?#V?2X%EMY[]*Y,IWWU(@JV" M&,O]/E;&"<9Y-Y_(BWX?,.+TJ1#@,FQB:=W#%VAZ,!HMG5[5(_>J=21'MY1@ M_"+S)B0CY\P['BKC21WS!H%O[RW'0:]:N#L3VF$!H6FL*$5*&5@67LO(CATK ME1'(Z,-5-P+*:!+SU'-&X!](]*$##'@%;%N'=K3(+A<=*Q>-M\V_,">3D;C6O1&K5#/IG.YNM;)H/6CA:S7U/+2Q$#A*?ZS M277)R>!!L]C(RGC<'F\^V=9KT "=RP(9RG)[O.&-#;'Q:L3F*W0?7ZT[7-WW MFXGS;S5\,D80J20LW[ET(L 6?LW/&V32$8I2*^-P&6,"\1TZM"PM>YV\I]2! MVF0\K*ZSLUJ'U@"S/!Q/:U5RM0"M3)5:]_0.K9?Q?%COEEI!;2'3:CY>U*J& MJT"GS*;RO&8Q:4W73*DHB= $K=M.("J#R?3FI2-P> UF)=+$8U&5*-@#^?C.I9U8'WK6+SI+9V M@T; Y[-=<.SCTY(-5 NTM9F9>=#NKP*C70H*IDCS)F(WP6K+FUT1+G9O]P>X ML=&[P*_ >[G&%P7_)G]R-C!5>&4Y MKB.7I%6>-#/,4ACKJ1*[TH_.$0=A)X#[3'LN@B'/HQM[PCPE02E,D7-YM*@+ MF+9LC[$\731'WV90<:%)E:=OWSD1(+H.^$I!7#@=QH=('W@5@K!KI!GOZ.?Z0.6J511E ML:AMX5;7*J,AJUI!1SW.CIQ#VD3FX $ %[-C/&X"RO+&1P-DY&B"5 .NA"$2 MW]8S 0C6_!VT2<7\]\#1U?J$+52:/P3WS==K!/CP C9SF"6VC!^TZ *_Q"%X+G>M=O&VJV/H.^FTPJLA!OR[X&'>!6MIK MU QS^?X:G=N7N775X(+9%04"/?MQN42&]JT97WO!FV4#HN(I>K.H&5P @/IA M;\!V:!?HDB9$#4 W:DG4"'^-!D6=5*_7KAAU>8W7<9L@DVZ(G4>9IY6"W4NV MKB()N@+.ZM(D_\$U2EZ 06JPN[C@P1;-\W=@>+!TQPIY-AN.XNFTA::N!7*6 MO6XQ5 ZR+3H">6"&Y+=(ST-1/DCK;A_%@EW@<^1O>IBY7@G%RQ>@&[A>S[5E M/Z W/L G]P&JGDU[$= 0=>R$ MA![X #>6HZ>H)-Q^]]JRW//A\'QXF"G9 V2_X-PY?0.,]Y:IL25^Q&2O&UA% MMY62+)0/2T0L&F7AW@CZ9*,STOY4C,_"-!JP6+O:W":4-<-3E2-*AU!@62HM M LME!8SJ0P$?^KLDPJSP5"7IN$,HM"G"#,!R$>%)<13VX$>1J<_.29NQ!DBK MTG-:V*YI SG^=DP;6%P#W286^HVY\5SG,WR!AAQSGNV>^4+\/"2&*DI)@>G=Q_2518L25$J/ZFUEZ;I >-RC:&I=17%<]LC M)*L#F[8H5M,JC862'1/%,L)X_JX[X '::/*K*PL1#)F]:+H[@/Z+S\=T <$E MM&VHA4($A/ =QOO70LH6I'*_;FY?3:B]!P8NQ42"ZQ/MT^GY<'H^&O(C@T.F M.LB(D.>C2#F$="BK8L1]C;2.$7=1Y8Y1&([(U/3Q&\?QH/9M8YGT02=NC#0M MC*.+^3R4%E4"_'2>.KO%^T%W5,/"I[SR\2?R?!P-/\F>B!M8C;HI#^YB)]/Y MO'-8\_9D'F!]X,GL M:\O98'6(^FLA@M_$%]Z/U'NX?UIAN);(" MX5,,%>IEC+?D*PME'.5(]+C_KHK.*#9[MG05Y&;*0@[G=V> DPDY$>K@21R- M13T(7%%(6FN+&&]8@&*3NGNX!CH.MFY9_*9Q%/F &R?"9\M\?D1GWY"R*JUW M%J.8-9$P>+7Y=Q2E1Y/WQ=T"!Q9/?3"2_(K"OK1)0]#MM3&%:ZHH\FPZR='M MXUE]\+%<>8]B>RSW^7E(6&,PQGG8-O.:%OT//F\>P8]+QX$NSH_!F2[(L(-F M8L->)CTVGLRC.B)['AY0,941B9T6BD%UJ:JV![7/.GC2#>("O:I()EF9S>/A M/VF35(2&Y="HR,/)O!PT='_>VPZ5]_3$4,4HS:;SST":0ME%HPY<9;/0, MCH7YP67%YHE3@G6>D-8K07KF_8"9*PSP<$.AV"[;+Q3ZPX5BFWA#*,3=+76Y M@Y28-R@#A,K0%A#W%&A'D_:![21I"\AP_:3-W2:JD74R'TTS *6S5P*2@Z J M,Z4E&(L0>Z^!P5W1,J$TLQPMEG@%I"(3JX%874'DR&[<. M;0'BSA>3IL"M+K3EB9MP7U:7P"Z&(7%-F+6EJ//S=XUD\1Y=I0IY@LCC E7C%H7)@?G14VWKU4Q,CT%S1S]\OG>^WR^^( MRY?>\W<$WNQQ./Q._WF\3?[^,WP&QD?3U=WMY0_=";ICTAYCELT4)Q,W1". M'IS[_1O=VR=#?SY,,2E"V-$PSO_#P=,*8ZYUFYE>M"!,CIR.%(%G<>6 MEKW&[BZ2?LZV1>15>0K'JV3,$ 8DN&R_A\2-B<-BMW3I4I\;+J^*A,FD!>QQ MK/F^;3\0*;WGJ.;T'&@0^J]I*R6 MQ3[""GV6QSFW"?$8H[Q9XU &/R/B/NDFV2@>7+@A+SNDNBO-NPD*3N+T0C(N M=JVI:";PG.CL.X1^XR4X\N2+,/ \@#G,!0UU)KIT$<>>/!??J#Q:-?9WC;< M*PQ%+6@4SM-><,:"V%C7D#F+/%C@#ZX-].>5>P?<%8LA%K>&=O,6 B@CX:TH M0''#\ @K(+NX0LT/4BRX*\M&^K/YA69#MI\2@G(^&97V9E*6?-5@:MX.QMY M%$1^U E7!C^19#^^6G>XZ_HW4U_JI(_.&E=*HOV%+QV__*C?N9HM$,(/(VN8 MUG7B-!XN)FWRR3^4H=.AO]'Y*+!ETP^#"+66.%()^N%\X<>--$Y['(M@;[]_ M>I]CC Q)+^DVZ,L(X6@R6]2_)K-H^/5S'@T72BL:FAW"\6)74;Q>P\:B>[;1=7<1G';6OL;C@T;I>V^/!1];2 L+J MHW_WX,ZP)7TW-<9!AT[4HU3)4IO/_:87+9F9]2&F**V>TI(0RSF#R:-I2R9I M:9"5( FO0U2N]YRLU(]OR>52TQFZF'H(G$;4]_8(?GS\@5O\PO?0A$N=C\-R M,8J7D4B,-;V&-T8SJTFI]5V:":1I>,#6J MWC-:&-6*!V_5W18>O-7WJ'499(ELF(9N-1N#J;4&#MT!G(=*;P7P8K77"HG5 M/O ?'=Z!ZN*PK.#X',04;_TC-@+9>C8/$KORSTO!X*$@9:8STWPRC!Y1BD') M'\<,'TA9'!>RK/#$D780IXTAZ4"X^I??+;)(\P+695)QYN+'UDDTI(IAWL3 M[8<5>H!7V:^#@K&I4_" )3F0M72]D6D+H-. TX>-;MXNEQ7AGTQG#2(00/G% M%-29HOQ5"X)&2;N[FGJA?6?_0KY MW$V"V>*[-9^R0. M-.]N(/]^DS&:@.GPT EF-(.I(D]Z@RD:4=G@"V\FS$;3W@AK#F)Y)\1FF+ W MS&RTL2 ES29?219/Q[A0#K,N;)DYF'5MRRPA=O5N24%:WP?HJ+9.&A B/?H> M.#HR]Y$IY>#,/?SM(\+DO<&>&GKVVU\,]^>-Y+A; _YZMD0OO9.>+$.3Y.'& ME1[U-3*0O\)7Z=Y: W- OQA(N##T\F=I#>QGW7PG#7^6\%SGNJE!/,!0-\_^ M\NS^C,?&0T:'SQ]Y]_(3_O#5_2S_!:PW/__'7)&5GPGNDK64PMCC M5]X^!2^_Q=/M_MB03W@8^J_.HDUP1 >P4CA4 5\97 M '.+:Q-X)O TW:5^5<&M#.H"5MO/CQ*@9[#GD-@:I*. M?G*\)T?7=( #S:0W:!%)9U=TDC/)LJ4S]-[93](*O% 0GB TI8T--P WE=#1 M. @F6\.U#:17W5V1OVFK3_28W^O3D9ZAB5:F86SQ[W#CTG?Q;-],@@,ID$< MO5PCO%4@O3G[=O%P(7VZO+Q# "P1+#I.X=37!(X]FKI)BBOLD")0X)%UTT'[ M)C'$'/Q6,\G/^_"^F28(60,+8# M/-A6TBS)M%PTJ&IXFL\.P\#OTKFB0*!'$38V])MO/&TEC,Q>%#%6!"?,4 .Z M,)%O%](-)9*UT4T\-)H-20AX)C\/) 0 !61W8D(LQ-*@.X0!Z'$3@V4@2/S+ M$4Q_VT-Z]"$LJ(YO.)&XSLKH"+\-\B."2(5+M*Y)U.YPN%HR)DMQ#8>$:,[M\\8[LG M.YU8&5Y(:$E)3[0#GN2L(-JVT-CXX3UP*^!0C!&-<+*]M$1:GP#D+Y"_.E*P M!'?<(W"$5AX:E8"-%Z?TY*$/%A*,D"1)]4A1#(X++/W2TK/Q+AF>9R"A%X&# MB;Q$OZ!E@@')UR@8O*5EN11$/"I$[P:RX2]N L2>6+3-I43]$Q+",5B1_[D3 MFA@'T4@1GB"11P*F&S"TS*,D"74%QR!^_*&2%L0!)&O=(;T*WYP]?+PZ^^FB MMUO"$>UJ>P&)<=_!,A)?P'BM0*"N)/0DQ#VLR>,7TD?\'1%BB-?T$S2L5RS. M(#(J>< )Q#ST"X'$UQG^SA29(%!+2/+>P(OGBT'P,E8GZ<-FJZ%4^3NL/\%N MJ!X4T"+7TU7KFH^F\[@_-C)PB5E9_-.ST6Q<8%9R"."#L#*>#1-N1KA,SU3" M:C$M.OT=-LOTP"U>F0##>,W]Q/$K ,%T#3 ?+HH#L2]2C_N75*[I/Q_&G!F) MXU< @N6.<;@XZ-' ,0'^.3N]\3*,A%O:)HX? 486-)"XIT?F6"X LX**4[\ M'QS*\X)UN^M:CR.0#(2;*K@?=&4@0WJ(0YE( M&9=+3=-SZ>46"P#!5(1F."D#1'#^^8PMZ'M=AJG S M6<3"/++F2>3 #3(^S&?<9GO7+*I\P5!YD7"1GS!#-4C*-,5BA>3.MA )W>T= M.E?B:D*74;CT602VP+3IZD.$HM9ILQCB[8(2*& OO)$60SE<51< M0L,6GI%%*(;3V9!Y1B(QH=]Y:,IA4J!+XAQ5H6'9A6<)(6)LP$2TS"X0LQ2% MBFE.YKG8FD9.,I1GPE090EGY<#9?T&J[B;*98A%Q;),W0J9IS"C+GS\N,56) M,)U.E$R1Y $'4X'"><+ND0^'7Y)Y)SF5.RG.)D-E'K.4$Z>H! F+I3&?QSOP M,4-"VU#Y4=I523)&A_KD)IS1":J P;25S$9EP A:L-V!+8]6=:/9,*;$DR>H M @:3CT>>+$J L:_FC6,!<:0Z4K[05(N9%2P=R@K-4BK4/Z0=T"RD=N_*,C1H M.S3OI+S$CQ&71VF:.7$N/K"Q+ /$]GA7XX*P?=%-RPY5WRU-IW-E.H^"$A^Z MW-1,T77S6-V O*DYRL=DJL3Z5>83G:,(3"9R+-4@?_I(:XMJ;IN)'%?$AX.7 MG9X%^Q+31SLS%D6_6-_'HMBEC:Y!_=U'TL7B'C[KCFNC,^)7L(X.G1520V(7 M;N_O?GF;-M3A5%<0IRX9-Z8&?_PGW#+/A?B!3O^3V4@.SQ8;+3S=)=H<-+Q! M7!O@F7F:)9("2&>(#! >V=_XKLEUTG]#8'\TM0_X'IEUDG,J!72:M-'",WZP M5 ]#\KC=L,^"0RKH%.'7DX:]@[9N:46QV'^.SA(9+6FZ/:K7Z!OFO 1\\S&, M3A4;*7TR"E.QZ?Y+3IHL-%*"<%->TIMT'#KG K? C/\-G8AP)XYV..NU;D#[ M"A'[V;+9%Q2RYJ"!S\90D\@(X:DC0Q[.^("4I1%<@3+/B-5/>)+(*(>3?%Q# M?-/]_,FV7MV5?QM=9B%G#)A50^2SAX%!#]YM*19U7WD'(E4H[79 MME>6QJ['/GR,SITQ9GQ?_FJ95F)H*Z=DIM$X:H>DSE<)L.))8+';1F:P]MTX M:LC]DH=17T;:9%6 *I$OIY0":N>VY)M7.!W.8Z;MP42E("E,E]%H/I\JQ2!Y M@*1CR"<:LXH.HI?:6C>)M8E51;6EMZ^N,CX?)B0UQYR8;+#PPX"!P&$,Y,,: M>..8^[,RUQ&(X116A>F MT7P4:N==#IKZ<,KF4AI.4V6VX(W31V";N,-5T-6\,D.^9799/Q]>A-B2,SD' M6'.70S:LPVEI8+&19<,56AMHD5 MCM3W[?(1_."TZ<]BWM^,&2L"5R;C5*X# MN-::;56$J0$4JS;B:@[#&Q)DCMZ]P\=5RVR,J>=RO-8$9RA;($*)I3E5&B5" MT+HU/L>N-#4^M*E;<@(&JA\@3?ZB"3V?@&Z2YG"V[J!I/G@X#8:>DKDJU(F2 M$$)6+]P=(55Q&9*5I-CJ;A#KFVE#6OW*[]X9C'UK[J-,ZQ:F\X10AAI@;9,F M#%*3?UUAO>@XGP>)R0?+>W*7GA%<'G-A VUB'@ES2YVP*G#%Z[:-XY'Q[, % M 0>[$N7DPA7]]PI]J7.BGBS'C+B\67E 69B,:2$AK$"2-8.W,N"L:O#-C1." M_I)FJP16<;=*@OIF@0HG*J!GB*AJ4'N__>9@2N]<,I?8&7L8J%F6>G-E%'5& ML,_/%_+B6^0X'F%9'G3$$7RO##] ^E_2-3J])":O EG#@VX(1:"H 8D2=LIL M$??UXB_?>G<5JTG&$.Q9;AMV1."$>:KR) M/UW(!PU52L!2'T8E5L-P*,=O&>K!R4_R"[9B?S-!@X7RWR"[#_@,1/%:HHP<4S M/(K=U!8&HQ8\"K-B-N>-!BUBZ#Q:ERHI>,*1!;F.A+)S%R;;/%X]CFGJ7'B# MZ":2"GZ[)(F]JE\VAHLI.8Y5VRX" 6_H>7B.XB"D)C!R\B--<\B7.C]?R(L? M].>Q[@#E(<=LC:6:XZJ_MH[K./FIZ-$O0D]&D+FBG[]?.M]OE]]'\O>_><9W MS(O'X? [_>?Q-O'[O)(7(SEF?E0"NCX*%"O:,),7BQYAQ>9<7$PF\4O63F/% M%L:%;Y&ZBA7UZ1]:N/X=7U!KZQZX\.-R"55.MZZS::PP0+-(=(^$)9R)<3]6 MNR2DW]XNPT_>FOQ67'EG.\E$#-&I!DA;(D9Q+YP\CEWT-T",E-/<-2U!R/\H MC!:&PG*<3 " +^@EG*2J$M#<[1[Q&X=]P+&].,JG M?&NTN,MDD2@YB3-6!J]XZ/UX6!Z\PWS7,C%3M&4*6O:THJW# M3*](]OTAJ)%+0FM_L8<<8TEKL=DE0(T^'.HY=,C4&'0E.U,X)IMYORF0J6%%( 5VJ MJK?&I>ZAEA;LYW.I"$MS8UF$\BK*)TTCZ;S N ,Z,N1]4X([;Y3%>#C.*\$A MF!-E3J1,!__E,I_$*W,*EN2QY!ZZ0#<1Z?TL*_YGW O8BGH L2 DT[Q$<&D86<1)P M\[N-Y=%.LI.G*0=(<;?D:#IN"A*^6JXA/)K?'1N#K<0.6 VV&OE?UX*J::=K M@,9-[D=\0*YOS^$#'Z]])7QID79RX70)&]SO,$_+!_^=4?K<)9B=B>0 M:7ZC:@O4$OL65U ;.ZS5 G5-NU8]%&YR$ZL%@_KVM%K K:#U2F\U^S2'<(5D M4LC)N?3R9^(!%V/=L%)PA:K+[H_/].%0<;$4N)3S MX91-_:>!/)F-1\HT4N0V XQ:@3[<"-+JLXT7RFR^&!:%>I>$'^E I@G#(.ZN4+T U\X71MV3@3;Y]& MAL/W_*0\]-<#&M2 09+>04GV2CTYR\/ CLTGVW*<>[\N$2Y(5%=V8%40.$2@ M,H* 2S+5EB19&08.=*"WK/N9KU^^ZKPNF*^!;I.6%^^W) >>FASXLIC.^@4B M(T>CB<5D[3&Y?.>QGJM)&!3&,FI:[JR."G".XN4J^,(9-> KP1EK&<03SOA! MHPJ,A!'DQ58,\ZW%6!?>@GBK'"GL8;7,O'\M \ M0-.-[0>(SH)KW22J+] 1-^A K-L8-%)VT#0]8%RNL353*[.*ZD?NF'!C79;7 M((EW]U"UGLU@G\6@\JKG'Y18*S0S-W"+IQLT!>VM&7_TP3+*EA/@PFYVB"J8 M&OD0[:MAAF"+O_([+$VKLN+)#%=#J-8GVH4Q#?3C3NM](?YE$D^(=>0WTWIR MH$W*\]R8&X^4Z[%,%9VUR"WVS G5B-O$Q4"=N M7)2FCC*7IXU0!ZLMCF.3ZM9+:#LWIFL1=!]7-H18MUYJU@:_=;OTBXNA%Z]( M2G91XY.#0NDJVEF6:GEAFBWV$5QM8UWCL@RV51K/CC/)@[M!N481B[M.ZEJV M&=AUAZ;UR*_2(DWQFJ$GR]LEE> ;,VK).;CG)M^94IL5EWZ7XTM=ME MH;Z)W 2R)C1:H%*=(E8SE0()#DK'D6)DM .F0;T2VT<="DD2P:]_4ARR1#0[XT"%4]^^XOA_KR1''=KP%_/ENBE=Y(\ MW+C2H[Z&CO05ODKWUAJ8 _K%0'I RVWYL[0&N)GM.VGXLX2G.==-#>)WE='% M;+)QS_[R[/Z,A\8C%AU]]_);_,;NCPWY]!_RR/\7^LZE%7NA86R AF,??CT; MGI&_G0U0@[_]Z9\L6X/VN6H9!M@X\)T4?/I9>D6$7F'0AG_^62H&Y@X4.YCG M!=JNK@+C'*FT9T2B)\MUK?7^:&P )J'R!Y$0B69CY\/$1TAA8T8ETDX_0/N$/Q$J7 MOJ!W5XZ$MBFHD9]LZ2W^5;I570MW0Q[) T+=MT\9(B^E,CI,M316L#":?+1/ M59P5(;72(U+ Y9]GO)/OYZ8TR' ^4T7R@3"8_93'8M_9FTS]'"63 92*G MPYCM1(),<&79&PN9XY#B-E=DY><'UP:8*M(=<%<2#M1%AP25N$<<"9GX%Y** M X@DVJX03?H,#&D)H4/'6*1+4F"E_IF/!!V.>DB,G'G^E ?K(C:JC2F3.ZPR M';(0H3"X#*OU9&@L+R;-TIC'*O_'2G=A.=V=L\;)H"9TEX!*E7?""A MO9R!5G2J>H0,XZ!9WI,!=\B=N]:&<"CXVZ;GI] WF!CL3$PW#NL&*4M=S&8L M1D.$]ER5AN J?Z[* R7CQ,";JX$.(A_Q)0_^RR^04^H^+'RCAF_8<$PF>@F: MZI9&)^R:E] ZC9_QL?P:DA[?9)Y/T$03&3Q[> RA[B@Z8;GZB^A=+V/ M/VB\!88(5W;P7$ #S(+P"\0LDFU>* V$(2M?6812@[G UAC"V6Q+0W@^G!X1 MPOM$G_7&L+80DKH$MR0ZD;DR@[P8]I4DF;E/%4BBC$=])4F2E*B>@XP67*4% MIX#!%$S@?;F&$.]([SGBSBEXXA3HMZ, M6F]'@UG:N,TO>Y#: 9D?$-#/2_]]L*Z$CUK2&[RH?Y(L4]H5@CA?6O8Y+@4A M[=5,77$")61$"&"O!?#:=^M?>;:-#Y(229(QR*XEI$Q(&1\I"UDS$C%GI(@] M(V&MURUIJR$&BEDLZC,#RDMFB>4C#QM?/WQBKFJA4@OWR;Z!.QW_.5G"\M%- MD4&_BZ#BX=>-2&7!<)Q*H)3,W@^B]S!UJ=QH+)$6.I U'^S5O)%5"*1V=YN>!_*=$F_? M3 ?#J<*;K8R;B^!F+[F9$H[)*08@'E+PU<.Q#;?+>XA.)&2Z!_ABC2BIE.5\M][^A2PJT,1?I3HQP MP#[>2F$.?.]$$%Z0+$IY%MHA[B%VAAM;Z<9Q/(3OGBK2 VY) VQ-0F]*B"22 M3Y/V3!A*3IRH::[A*X M_(X1;QZMC:Y*(V5*U1(9)C1BJ$:=9"TE.H#DOVR94N*,@_U0"&G@2BJI1>80 M"NB[TN?2VM(@S3E;6PX%:[D;#Y!:9!+"6U*158VC(6@^BKZ?Z$*Z1B_;:(WH MI&P>8H!A 9.^=?#T0(*XOY.. 'G5#4-ZP@EN__)TF^:T>0Y=?T R$5L15*^( MX.>&9?V!.:"2"W&7Y,"H1/-04A#?#T6$H/I,8ZK1BB5SV-#Q#%ETH&=:(1Y_88.80!$&@83S2OI]),QI/(J<\I+XBK^N.!%^ X=$$KF#]J2X5UH/1]B1%X^K4)B"G=G)5 MOUN8>QB]0"$ MP*HG[I@F"K0T$E"#$RR3IH]:?*2.V1Y=6M!L_W=F9;.8D<=6RRQ*[82R9LW' MP+#ROREYXEZ8JD%Y2B@D5CI02C"&+V/BI;P:80R/!5N6\_7K\DK!79V,S$HL MFD7>"$RU2 LU\5AN7Z5JV?2 _$--<@9 BIX1D-4"&4@KTYGK0KEV@T\VX$\#H=@ M^[=2%S*NTD/?D\:MSO?'K\?S$5) G/%']UX+<[_2H'A_E1G=$Z5E61H^( M9LC:&(T7',A6^MZRB+/NH!40-7R#=+3'O=D;]+X)6F#SZ8 D.3TOP<.U+ C'CU!+A\N M;1O?@V$+^?UV_XA?E_$2WS<%]^67_GT',,ASSJ6'3KEVAK L]NBAS[*R*Y)! MZQK0&@>TL$%0"N'QU7KTC\[7^M*%T P5TK@T<>$@?-/R N\,P%Q88QQKV%,C M)0[*2>SJ])"Z/(1CCRO@E^PAW]'5X"+D$"N#ZZWT)IK9,C(?QG M"<"!> "V@=HFL$? ,[^$:+=_@QT=HK^5D!/Q+C;OQ?\O#+\KD0TB4"XZ? M?@WST;8M^\I"6-!K/836G:U;-BT\=;F[YW+$94SCA23JC_1M*N^Z>.(H??V?!%1X:!L95HW!Y#4)FH M_2"$BTFXB,T@[8T&(5E"LOA(UJ4C49.S:^JJS>(A-5AWIU!"N5D^*5'A<;N8*94*/*@Q:0IQN97W'/A!-];YGMF"Q7!^6/F?%;[ M"OZ<[T*IF#39N@O204A>DW]33_IGB?3[;B3U(CTUS[T/YZ>V#LZS\TY_\U#\+*U ME;G(CP_NPJY1U\$CV"J2"E$F%J 4@MJ2H([SPW&%VND)-\46"N3D[ MM=\*UB;D!>=N&&W!8\%CP>.^\KB1TU%\&PZ2)!-!?0\<716^LVZ85\.+87KR MNK"5>\=,QD+K@ID]8*9<^RFV]9KY6?O$!]RX&6IBI^B*/(J=XIB8*7:*XV%F M-Z8_V']#8#^^6N41 MFHYFI1"*0\ '$Y(L7%ZF1G,.N& 8N&!S;7EV:63DQ:*!6($$Y]0_PR?T"7/^O M%'UR#73[[\#PRB,WGR[&T8H=G" JBVE4S:#5:7G/*TRZZKC*2KPZ"3>8.&#[ MH/_P1WZ$9AED?SCZ.U,W?CUS;0^>26\KPD3$EZ#,%QQ=<]]= 6>%;!/\GX__ M\O07! U:,P_>$RZ[[^JX6<0]=%Q;5^,=;8I4HY%' <,+S\D96"8M4Q76@,]! M,:M;\V9??I1/C:IQ5!,FSE0:G,(5J90"T&"JANQ?/.45:<&"]ASX DT/WH\8RCQUG?!^=VSW^QW !K;?#,.O?I50&.ORH+I5[J)N$]SW'0 W M .M2"\ISW0%=NS&OP$9W@>$#GX)4)R!_M$D_G"TI>M8#>!G:O_4 BWN_W[AU%.Y'Y1!(;)\# M2R131,BP"/I=QU1?"A$ &QNM35LWMI)+37O27VK7'XMV $.KWT" &1 '?Z%U MH-)"$'ZOK:U?(F*)<$'* 7?00L/ =I)<>1'+\])2(K!5*B M+!O-*5?\(R^F]HN.^YMAP$WH*IN594(ZS\&;TL%;_C2X/Y>*];CN0-(B[0KW M*\-#?K*M5T3>X'+,N: _Z:9J>!JD?'E_^_" EL6+97A$1UT!HFU(C[0L JGT M.00$@0:+S!\0F_,A#EJ2OE[KSS8@?E#"*M))SF_<]@W]"34"!2GM@>AU!6P; M-[<+Q/%O%K?E\=B)9![1D**YSY%&Q<2W: M%HU2'$F(91O:*YIN0(;Y8CWIB+N/UN;\VR8 ")JD5^!>=#&VI*$&$CL)'?Y< MM*#(ZT]HD> G<8\^^O5 0FO- <^8?/@)7 :&0$"[R)&AUG120%N!'*T&_=K M0/][NA0? E(&U*&%-[!@2QL+@7YN+6G309]%QOD3+M6*91X1^P^2YDR7-58" MB7+Y!:V,K?3H4SA!/-?D 1NN=9>*0R"9>/ ]FR*R)P5RATD2FY% 07D_P-T- M*4->$ L]-%L .<649&D?CALT^/,7=NJ"W3UQ_@VW'41?7D4X%J@N$*P+Z(2N@U_ V5 MR5C?S C)R9KWR;='X@[9E[A98OHJQDL-/[L- ",RKQ(M&E#4V8% IPZ!_;25 M#$A*S9(E%,0 NU!=F6@W>MY*&Q^$BSHVQ5##ID(;8VS?;@RJ^*[\5RQ^=D!I MJA)L:C/A'JJXXZ5N>BZDHH3V9'0H.W^QL/PDBY4O <$6C\1[OPF$>WJZ@3X@ MJP6A$=E2_TKE/'_C^ZOT'"@DM)^0MIBQ+?2]%SUSK' M/3P]HD#Q*X%MAK=>$IT?=#K=*?&&%UY#ZVMGN^LTX@=MXL\V?";5R?PC!FU; MI-=ED.>1(.%<$HO(@?+9XA# M:-N(F^A$:(/-D=A"M(_SSEYXET^?5@];R0=)2K>:SI,]+W'.&/DN^LV*?K.B MWVSM\B3ZS7:7,:+?+'==3B,@.]%O-HUPQ(^455VWS#K(X4CIG^N9L4NM>P^" M:D/]_%).=:D2UR+,TWBWWHCP4T[@[ MHOSZ3IF\=":M+X"8$3.FMUAF:QF;L3)0E/3EU+PL<2EQER!64;]5M[@PFP[F MRK0[G<;I M%6@J6A5/C%E)6:WVRUX,YAGUV%-<-&6!/%8B3@=#6:Z7B!WI/^[#GJY^:0?R M_"N^DY.1D3(;3/,[/8JEED/&B3R8%^A4WMIB8]F5\%>Q*^V.;?8S=-1(UVS] M,ES&:*OC9;$W:N0>KN&,4)R3TPB3P3B_$(10JWE$G$[370J]4JHY0,=,EXC9 MLEM6)\=_61E,E?1#G5A%;%0<#L;3FJG8RLXS9C#ZF=$>\^)U5H&5'.=]\>HH MU/H<#P?*.-V(2*0;KU729[I-E<%(9M^E2] MOB[V56&:B^1J($BQ8*!=T4@Q M/D%XS]!ZML%FI:OHH6?=,H/XL<-Q/5^B0Q]D=1(.A*,N+*GK5O)R'K(\B8DQ[/RO4D[W+38\M1*<)!Q M:'0D4I3T8"G&0+5F[R.[1\7Q8+A@C]X11$P<6L%75^D!9URHV*6,GBP$:)B$ ME7;>.SG9D(?SP6+*;B6+)9:JI]@C\P01DV51'@V&DYKWS+:#N,9A1<3,XC*1 M$XP,WL<^Y#@&6=D:&S O;#R?J]G('RO=<@+:!-E2Q"TGP(D#W7H4J-/S0D@B M'D/$8XAXC$Z0Z'3C,0Y-ES(\*>V0/)$913P&QQMZ)+E3)?W*Z%@C$V:#Q2@] M%?Q8L59&B\%D4@.W13R&"%\0"+6]41U-/,9D.!C/CN52FMV?U6T\,%/FZ7MF M!S>,7L9C# <+;@7/VD;F".,Q>+*G[0N&W (W)QN/,1^)4(*JH02#B5)S),$) M$%$>C*;L>VX?XS&8E9&(QXBI*64X4!012E!=3XVJW)T*(A)95 :SC*(ZG5%4 M(AZCR 5Y3OTY$5B0$H^171I'D"U%W'(*IQQ5/(91I?"&X?=LB^&Y[]/68#D1 M/DV@ XSNX1KHN TZ ?4.VKC>'VF >ON$..]W:NP[ME&V=;CE];[R#2YG\PQ- M:).&O:&.D'ZK6 >LH;1!LUL:Z3TIX=:_FQ#_K#W_"&:D+2/ZV\'=7J/=J#4+ MX69:KK0"+[CM\#;<6%**]-Y.F6$_LF392$T@\X# O?N:@(! WZ#1=,MS_,[7 MN# /10+1$KT9GYL\0QMWD_;(0"5_;FS<<<^UI"?+K-;*HUP!I M(AUWT:2J!B\^T@<=/?^DTR)>N$UZM*UNT&KS G?WUD(]S^V=6 2Z)]Z0UR3G M*5I7C,J*Y*P@).\B/>7@ #W/1,]INM^RFAA7M-LT>EO7_#97%]*EB?2$J[M4 M4]N:0_I*4T&D>@=W_D4Z'YIA!1]5ZT![H8IKZ2L>/"#>$?"L1-LA*OB-O %'I%'?,3]KE&_\4 .:W([[HK5QU8VGL%(ZA \0A)"NXH31NST[Y M'1*[@'%.E'-XY\.\=<@FON\VC[8Y] O>UDCK\\!*PP,^6VC+Q._M6J"C9]:D M);POZ0&7J5C0EMI;TCG>,K%D^U(661!1/+:[9:&3\GQD\@V-7 W6%YH/=X4G MQ@=:-4#7TGM-H]%W*TGU6TBKP-;\AMB1CCP[O"ZD)/KN]O)P@_"][43HOJ,, M?LYO'J\%&B0@\H7$1;.ETRZ8GJB3/7=8]!#&Z.P#1 H1]Q7V<3MK=[GFAK5W MHX5QQ8J4/KO0>C2).4GD&#Q9GLN\9MHJ,UDCM0JJV^.J/\GH'CJYQL_)4]=C M^S_1-/,PIO 583RZ]2L:^[X#9 MP38RD'1W?\](AI$T'6U-KC^ :TE+RO_=.T[$H_U7Q_?C%YU:HC>?!O&ZKM>Z MXY K0>*K1+,"+(4V#-\D7%MV>I=1 D60MS^(>'?!9F-@YR_9#/'4V&R0X(\- MU'0LU*\K:,.G;>0=ZIC5C:VDKA WZ=L.W%,%OVX&OF1"N&!%/4$5> X-S43; M.+)2_DT]5?[^_FIYAH:O2"T32EL(;.PO1F1PB,N6O$5N)Z;@?BV$4QAQ] 9"SXZ*08"I3V8MK&)\>4 &&[U 0913L5=U)Q(V-.B%\$K? M[*A$Z.IB'_?N!4)V%9(&,I1TXI*D.UKHK\Z.[4FK/;2K4(%X1:L.^]*IE]<1 M#8!ZZ8"-N;T0F='_PUWN=GMW=9=(N<&Y^4<"@]6U-D2:@K]M^N(PWX-R<"Q, M1J-O+I:8*W?GXJW-UR:D[ 2E[&^>L=W3OONR5L.E0BHO*\H[!SDO? V6,WOE MHF.%:=4M5V,4\C!69^$S/).E%78BGI%D5HF<5\P@UNB,$F51Q(5526P.1TUU MMJ;-4Z[^2^ZP\F!6KC),><$[22J/9PU3N=W\SC1PJZYCUO7+49R8S8\#(R%) ML[$NC?*S^A*9*(6+_ ;%7+$0;$A6N8VPH:7$26I XIN37;7]!*AI-B7[,J9# MUB-%X5N>_.-(\F$CCTL5^HU7!"E=$$>#Z2R]RD *[;EJ!<'5.K@J+YKC:@M7 MDL(GG>63CES!6,MB/FK-"^Y6@GPXX;;N9V'TRFX2$2C,QXTG H5%H' ?Y%0$ M"I\>PT6@L @4[DR@\&4%P[6 A_EX0U$GD_3JE2+4MSI]6ZH[7HV>4HX?8D#5T<8$S\EB8/1,1V,T@AW9=E0NMWXM7&J]!42'=>X MGC$/2X2GE/K)-])YAA95"!^B40'R=*",F9(U*Q_6.H6W,AI,Y/3^\OUJ3I8E MIE? MG5D J9V6RW*E;)RD": F!'L]8O+JY9&L!DK Z6W+5N*B%6D8%G'N#"; M#N8R>Z^";HO4=#(8C=GK5'= .Q5M\=.V D(;8'J4;+^$11X/9A->RK3M%@C[ M\\HGVWIU5ZEH\6ETD1]T6997Q4;>#H9Q^0\&% MB/UJ:I2:W)]N(AZ[C(R4V6":T%!=++5B9,QIX=*9Q<:R*^&O8H4=.K;9S]!1 M@[US8+<-ES':ZGA9[(T:N8=K>"\T=P9P\?WFZ2K6R6"<4:9*J%5&(DXSNIWU M2JGF !TS72)FRVY9G1S_964P5=(/=6(5L5$QNT]:9Y91X9UGS&#T,Z-=)GR* M=\Q4R4"IT7@X4,;I1@37"+1CHEM.)[SZ(\IJBPR+AZ!EC_0)6L\VV*QT]=*& MP'G$@/8@R*SYZ#+"]QY5S>(9_U&Y8DI'XUIX>X4*QXKUF'8E3=-3(E$Q*Z3] M:,/DJ5GB+\,QE_MZ6:<5PG,R04/3<5J R#=3Q\54'US@9JC.3L;&*/)\,)VD M&]+'&A,T'TQ&IQ<)I2BS@3Q//QCW*Q**AAEX+NXO2 H*1-9AA7#*6KS>!5_L MOAM?(-0U3VN1F"Y_K?PG^E6SUAWCQ&@RF"W2 S;[)5;'$F]$F-*E>*,*P6E? M(8Y.,_"YOF-4GHP'BXP8[7Z)#$L^:[\PXLJ>MF[B(NLARYN0',/)]_;H<--B MR\TJP4'&H=&12%'2 X08@[.:O8/K'A7'@^&"/6)%$#%Q: 5?UZ0'67&A8I>R M6+(0H*$!5MIY[^1D0Q[.!XLINY4LEEBJGF*/1A-$3)9%>3083FK>,]L.7!J' M%1$SB\M$"S R>'_?G^,89&5K;,"\4.E\KF8C?ZQTRPGB$F1+$;>$./)'>J ME&KDU.O(A-E@,4I/?SY6K)718C IUQRM@SX]$8\A$.HT0B(>H^RMYW PGAW+ MI32[/ZO;>&"FS-/WS YN&+V,QQ@.%MR*?+6-S!'&8_!D3]L7#+E%74XV'F,^ M$J$$54,)!A.EYDB"$R"B/!A-V??([L#B2I?=6EXT#WTM0^Z^!)-W1WVZDR($GJ\G5OUQFB/HAH1D7! M[U534-&MN*3MV92<=K.7DNA6+!@NNA6+IEQ=.8S6WZW8-WXE&ZK6LZG_&VH2 MH1R4-DAX+4U:(I-4 FN$@>N@GU3#T_;/[#H9&X%QBQ V@*E"";CDB2>(%IJ) MIL:MD/?#IC+DE!KQ*HN!+#/5AQ&]CLN2>#Z89-2+;K3-<8G#X<'Y$FQT%\&# MEFDPVI7EN)TZ48J#8W5S'1$7_3]<,7AGC50WYQ(F-^@$MHV^@\H_KVV/Y$ ]1_>;JCDT:\*K*Q MHH>?,Q(DA5Y#;Z,5"; 9YYQ1HBR*F-Z5Q.9PU-1#8MH\Y?(*5![-R&0?E M!>\DJ3R>-4SE=N.&TL"MNHY9UR]'<6(V/PZ,A"3-QKHTRL_J2V2B%"[RFSUP MQ4*P(5GE-L*&E@)RJ &)/3Z[*DX)4-,H'?9E3(>L1XK"WJG\XTCR82./2Q5Z MMU0$*5T01X/I++?);)SV7+6"X&H=7)47S7$USY7*X@<-G*?(#'IWN;:0;OHW MZ?YSNPS,A< +&XQQN;<5\'"B84__*L)4/L>+"!P^?B81@2,B>N.$-3[L8C$;IE3_$#:^X"VSH+E#&X5WIB2L-7P:R MG]SB9S[R@DB@$ <\<< [A@,>N7*4Z$VC=%"J7YSYQ)E/G/FHE8XO#\0A;B8S M71P<^Q'N8679[CE:96L6Z1 GLX1I,YH2]O=8EB5(K >U8A(ESFK\SVJS:7HI MO[H.:@WKMYS-[PHX*_2=KJ'CB)U:RF*-!!6=%4E#-&MYZ,TZ["Q2@T;DM]4D MC\FV+Q8D5"Q62\-Z=6B-%"MJ8['X-H6^XZ_OIO/TC+BZ]5UB MH\^N^HBB2 EOD? 6G9:W2+B&RDEZ37Z@$DZ?NH#MG'>'R6+X!Y$YJ)T#!")X MQB7=UD W]TX??,(_9[92$KU G R6A&C!@NHIR90H9KNP!WDRA4[69L]44G;C MBX6TA+F:@7&4432\KM MGU/$-6+4[Z^<4RZ.#^^7\45T]'YZ5^GO"W ]NVOEX,7=,K-%[@^1I?1P?%=*&)\>24ZMK;DT9-JT!<2W?NX)+NF:?_]Q><,E28VK(? M]W6T,IC-F$H5=\OYSO7")BX6Z1?T1W?KH@RF95K2=5Y#5&$_BYU_-.P?C]B; MAA_;DC\/]_Q$C!^=#N/EP6)1HOW94:W[@.TL5W='P_;YO$2/WVZN]\*V_N,* MVA LW?Q&XSPX?CR!9HOY,99X+*PJPK%E&[#%03N-Y))U1'6@DX*_ /O6YPKS&#W8:6;("Y>\*^6"XF,CT/5 M@S#B XF$XX;P'TC U*1[I,-M7<4JG3R OXL_F>(ASXRUZP8Y"@;;=?%>#UGL M!+ZE91C6*]:3]!)O8ULONH9>!J2'H*FB!;&K9:82CI-(61CGN+WGN!IP//XD M>FACV>XN2IM @"8A&Q_ WP?M!IT5A+CC('#Q^\!P2%"W2U4[[3SH@#7\]PUA(>U"(> M5'DQ'"AR$VG_@A'9C)C-!L,11V]V9W9?+F[MJAX8X?MNQ?>M3)3!>,@BU:*+ M6K_X.AO(B_8J[^[<+L+MWO[_F#A=A=N=^%V[[>W5[C=.\((X787;O]_[2$&S3N2;TQ7]"K)/OMQOP GUST[A=@_P')='@$=_L 59R:H$,' M#XPT)M#-1QM@="\=!QY[_L$DE'^ *23MZ5'F5J$;V!UE.H&.4P@<;XVFWN*X M>_ "= /+\?G2LL\=M!0D#3/0V3'P9.+Q.XD"OQN-OEQA['8N8CM7]Z\QC\?- MA9QW$N#B_PU=ID:FCSIM_1[N.-\K: [R%!6E,CY9P2*.+/ID6XXC?3-MB![" MG/J$; ='L*H/K/J,_H:"5UWDU370;>GOP/!@&^SAPZ562DYW"K]LYBQ[(PM72A.E#\?J@SB[8BY54*UV+#'0%\B MD%RD =&I3(,;R]'=_R]U4274]@]-Q?=^*\>A5.F2BV7LQ6"^2"]9QG+1Q4B; MDZ5PR'LCZ"SHW'LZ-ZDQ:KT3Y[6CIERZLAZDQL6M0#G.70^>*9NJIO@(% ,K7<0+.RGOI4@-D<\27T,^/0HV&)JNOE M[C^.E81E5($@I2!ESQ=VHZ9:IGM^I\Q)L#$SI\MXTWB[T$KZS93!I,"F7414XZ-=!.T$[3JV6IG*FC020AF%L&H(9%'@_$AYO$?X7P0D)-^%PB9W(2CI MNQ8:*WKO\$_/-:=!MVT#N\U=B^7#D2EOHK9(2]M:H^E*EGV_AN#1B&20'^,:BIN)8 B8 2+3O+0/'0-(#CQVI-TS#2Z"@-: MK*&[LLAJ42W!W8AC0)+T("I+EK[ 4!"[:DTJQJ*(9)3AWR0:JZP$C MO+0.E'1^?HD$$NI^$:E'JILFKIQ.#HHH3B7*!AU7V:#4.&Q1'JCJ"/G"FR&I M60)6G>MO=&H+Q.+#4[C/C2*<_(GU(AUH)2Y=.B\YB@I$WL1V$F% M"\U3$XI*CN.^Z(@<<*D\-,K\XRFMQ") _2VOQ%I,*=T5S73I*0KIU%)()SM_ MH:XR.A'O]+Z"3EWE;^)E=O9C[D?;/7P:IZ04 M%4CR."UJ&IQ8)0A114/0[BA7JZA (BJ0B HD%2J0A-909/GLP[LSPZ[C,=J7 M03;_M64_@!..U!9Y^B)/7^3IU\[V$J?HB3U_DZ8L\?9&G7^!(*/+T M19Y^4:$0>?HB3U_DZ;.=N$2>OLC3+^4,W7MS&!PT@4\'V6CO:/9^*,,_(4^_ MBD,''P';+[OYU7*I#VT:4B84=2F$.Y/CIY,(QD2FCV4&*#L(B.%JNTCV'-UQ M@[JBM!PH7E2M(LKW,J![_L#*3KZ.YOV&\BZ)!\26WA)_%M9B>6H\'GE5,*FT MQU3#L>%[.%J@7<]2F:>]S63FY&.;31,]D*X,X#C2>UPD M?&V9: AD:PRDL3)0YHKDK("=4AH:WXM%TA4H^HO+ $TI-_1FD7O.9EK0)D-QDC0"ZV! M.&&K>HM*>X3(B^/9E-G;DS=3NYA,IC-.F+3OMDPW,[YXI)#_TJL_4CS?1U26 M@<5&#K%X@(8M:L*4!?)XB3BL><,=.G3$Q@ MKANLX'9>:+RP(,QD]M64Z!9K,I*R,U2;SM.M(PY4:VKWZ?1F+M)4.ZECR;-_ MUQU C6+LQ$)V[Y5T99ED5NQ+NP-X>GT#2#NI.QLN(=*SFO2 36;IS1EY???F M[O>SP[,T%XX5348<#:8C7H9D>RAD>'JZJ8TRH?L=.R-2;-Z6#QV#\6S2+6GI M!"ZM9&;M+?1;=P738[^.U;)7E'3VB<-1-TC8MCXM?$KZ:IGJB1^4%H-1ADD@ M#DJI5"MPW\3AH)232:4J*][.@AG89$>LP9TT5$ 2!O; MDFS@ DG3'=?6GSS AJ/ND(I9ZV)-D/Z.9ABUN(&&)MH=\[.OK;!FSQCD9> C_0(S8T@$LQL:%K M)63N]611=D.OW/BJ@>H%;^,WD 8JLBD2:$\F(^&@=CYPR?X'B2 UA\2/,QJ M&LB$5@5IDWU!@0%(X,DH68/H) AJYP?13;3FY-'%?#Z-0T O$R]CEXEH.?\3 MK0F\5 ,)QLFCA#;.@*YX%SM7$*CZCIK*D CSJVX8TA.,0. K$KK(D8A;&T+F M)XB89<9&F5_4(0^A\OOEPK-JG!RK+74%S.=]NW45V/86$^8%9]?Y^H/ $M(A M"8WF=1P0XN(>Z9IN;"4-*7U[C<03,V&)L_7(>+A'MBV]KG1U%5'PT("JKVBD M-00XI)-H(F"@84R F\P3&'!Z3>PL&4A5)W:U( M(S[+H+GDWL>5#:'T!;V[S? M$\YNSQ'OAAKH-+X =C%2Y22[AKQV(4V]EJ9YMZ2I!CW9IAU1R]S&.@0#P>A0RDZ=6W00K8T]FCQ1J4Q/PZ: M%S@5*T)4G'TT6&3X[QM OTCPO)" &B1 'LSGZ9&B;4I Z]4#,O?^2\WWM"%5 M1CU,V,$$5!5-3[QWV ]TZ$?*U7<\;4Y5&'^__S@Q#)BRH&H7< MW>CC[LLW]U*RQR??=<84UQ)++,2B[\'!0GW5'-.;-GOE8-W.WQYDU6Y.XG0L M;HV*!)G@*W0E:LZ_H;;\3R0-_-G$QKZD>39Z:0?$WO>'3WPEPM=.IN6:DGZ! M7TN_M1,D\9MQ/32.*XPN!)KFZ/#/T''>2>9N*8=.Y@>+.7<12Z1Y\<'#!;S] M#=Q%'4S&P;'=_X98@AD=8D;[09[QVX)L);+W\>4:!+N:"!B*;%WBXJ(4Q)_L MEZ*PX<:B!2PTX#)'C#9XVU3V'B=/4+K8$RW#3#FF"\138FF66522IVD6D1&^ M,/SE+6N/NG!/NP=U!37/@+?+@S!]QYP71QT-($S]I$GT\ZK0C1!^/MHC4PIE>]/$HEBW6ZRX.HH_'J4N Z..1 ME1LE^GB( I[)[."=[B18+?IXB#X>HOXY@UG6(L:"O7S8*_IX\-50HH]';Q># MZ./1.K*U\5;T\1!]//IY8!!G0\'JSI\011^/(^_X(/IX'"-7N]''XY>WI<,2 MXW&-^P)AG] [GRW'N34[7Z]'Q#2*\L&E(Q93X>,CLPV'(NZI*JK[]TF^11EW M4=U?B$770@:%^A+5_45U_R2XC[_TO*CN7SN)175_4=W_P&2HXN[J?T%YP8P. M,:/]T*^X#U%4]V=Q^);U[N8)2A=+P8OJ_D?'TO:J^Y>Z!8A?(5P#W?X[[@^] M;PO IPP"/N!5NC?@ZWCX:KE4A@R)ZY=!-Q*/K MN8]]G1_]36_7HEHBPN](&R2C.'@0;V]^?#2^/P?DLDQ:4TZ2#3#<_MR4 -Y9 M/9OLJ$_ T9UV>UY'.71\72SB(7VL5:48G48=[=9056+0HXENV:@Z^PQ?H+%' M5]Y_?"/_%--?I7VJ@F/U<4P)<4P1'.L!QT8ACHT$Q[K(L4?+!48;G.E9AQQY MW-L6.5F&1O+4\>8=!Y"762,YS"K]LYBQ[(PM70E.E+26.1_@$]* N]B^U 73 MR59!+*[;8VV3M!C,%Z?7'$IPG#O6[17S/RSIBSZKAJ=!#5?+"$K_4H])>=6= M!4*9]#?R8G8#DZ)SM8L+RZ(2&!V/O'7F#C+A\)*C$\Q]1? 4M5#6G]>7*O$% MKJM%P7U!RH9(F=VY1A"Q*T1LI3=*3I>'O3^,!>T>=R403>_*]7+(.O8(JO'0 M)8)J=$!Y,5#&.$P>YDV_DGZ2= 2;_+/W+LW WE8VMJ]"A#:-<_07B-*-O=.O(0R4* :A!@NZN?$P:.X*VI*[ J:/'@$G"T7I M #U2N:0=_$91_$PKC"+& J=I^JB2U .:#4K1:0!0?G5+HPN@CZFXERX!+YY* M0<0G[;I9NSL+:V@]@RE)3( G0&9 MXW6EJROI%=HP[6A^=GB*/_,EA/2!(W-CX5$MDUC$(-1(27)6$ G^A?2XA_.O M#EW[J9!1
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end XML 37 R41.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Revenue Recognition (Details 4) - USD ($)
$ in Thousands
3 Months Ended

Oct. 31, 2019

Oct. 31, 2018

Revenue Recognition and Deferred Revenue [Abstract]

Amortization of deferred customer contract acquisition costs $ 551

X

- Definition
Amount of amortization expense for asset recognized from cost incurred to obtain or fulfill contract with customer.
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 340
-SubTopic 40
-Section 50
-Paragraph 3
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=68051541&loc=SL49131252-203054
+ Details

Name: us-gaap_CapitalizedContractCostAmortization

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- References
No definition available.
+ Details

Name: us-gaap_RevenueRecognitionAndDeferredRevenueAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 38 R49.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Debt Securities (Details 1)
$ in Thousands

Oct. 31, 2019

USD ($)

Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling Maturity, Fair Value [Abstract]

Within one year $ 8,694

After one year through five years 1,200

After five years through ten years

After ten years

Total $ 9,894

X

- Definition
Fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), with single maturity date and allocated without single maturity date, maturing in next rolling fiscal year following latest fiscal year. For interim and annual periods when interim period is reported on rolling approach, from latest statement of financial position date.
+ References
No definition available.
+ Details

Name: us-gaap_AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsFairValue

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), with single maturity date and allocated without single maturity date, maturing after rolling tenth fiscal year following latest fiscal year. For interim and annual periods when interim period is reported on rolling approach, from latest statement of financial position date.
+ References
No definition available.
+ Details

Name: us-gaap_AvailableForSaleSecuritiesDebtMaturitiesRollingAfterYearTenFairValue

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Fair value of investment in debt security, measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), with single maturity date and allocated without single maturity date, maturing in rolling sixth through tenth fiscal year following latest fiscal year. For interim and annual periods when interim period is reported on rolling approach, from latest statement of financial position date.
+ References
No definition available.
+ Details

Name: us-gaap_AvailableForSaleSecuritiesDebtMaturitiesRollingYearSixThroughTenFairValue

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Fair value of investment in debt security, measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), with single maturity date and allocated without single maturity date, maturing in next rolling fiscal year through fifth year following latest fiscal year. For interim and annual periods when interim period is reported on rolling approach, from latest statement of financial position date.
+ References
No definition available.
+ Details

Name: us-gaap_AvailableForSaleSecuritiesDebtMaturitiesRollingYearTwoThroughFiveFairValue

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), with single maturity date and allocated without single maturity date.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 320
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75019621&loc=d3e62586-112803

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27198-111563

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27161-111563
+ Details

Name: us-gaap_AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- References
No definition available.
+ Details

Name: us-gaap_AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDateRollingMaturityAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 39 R62.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Other Operating Expense, Net (Details Textual) - USD ($)
$ in Thousands
3 Months Ended

Oct. 31, 2019

Oct. 31, 2018

Jul. 31, 2019

Other Operating Expense, Net (Textual)

Accrual for non-income related taxes $ 8,000

Straight Path [Member]

Other Operating Expense, Net (Textual)

Recorded insurance proceeds $ 400

Legal fees $ 700 $ 200

X

- References
No definition available.
+ Details

Name: idt_OtherOperatingExpensesGainsNetTextualAbstract

Namespace Prefix: idt_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Carrying value as of the balance sheet date of obligations incurred and payable for real and property taxes.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 720
-SubTopic 30
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6419918&loc=d3e35281-107843

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.15(5))
-URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03.15(a))
-URI http://asc.fasb.org/extlink&oid=119400593&loc=d3e572229-122910
+ Details

Name: us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
The amount of expense provided in the period for legal costs incurred on or before the balance sheet date pertaining to resolved, pending or threatened litigation, including arbitration and mediation proceedings.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.3)
-URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227
+ Details

Name: us-gaap_LegalFees

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
Amount of insurance proceeds for an event or transaction that is unusual in nature or infrequent in occurrence, or both.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=114868883&loc=SL114871943-224233
+ Details

Name: us-gaap_UnusualOrInfrequentItemInsuranceProceeds

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Details

Name: us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=idt_StraightPathMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

XML 40 R66.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Thousands
3 Months Ended

Oct. 31, 2019

Oct. 31, 2018

Schedule of accumulated balances for each classification of other comprehensive loss

Beginning balance $ (4,858)

Other comprehensive loss attributable to IDT Corporation (1,204) $ 522

Ending balance (6,062)

Unrealized Gain (Loss) on Available-for-Sale Securities [Member]

Schedule of accumulated balances for each classification of other comprehensive loss

Beginning balance

Other comprehensive loss attributable to IDT Corporation

Ending balance

Foreign Currency Translation [Member]

Schedule of accumulated balances for each classification of other comprehensive loss

Beginning balance (4,858)

Other comprehensive loss attributable to IDT Corporation (1,204)

Ending balance (6,062)

Accumulated Other Comprehensive Loss [Member]

Schedule of accumulated balances for each classification of other comprehensive loss

Beginning balance (4,858)

Other comprehensive loss attributable to IDT Corporation (1,204)

Ending balance $ (6,062)

X

- References
No definition available.
+ Details

Name: idt_ScheduleOfAccumulatedBalancesForEachClassificationOfOtherComprehensiveIncomeLossAbstract

Namespace Prefix: idt_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=118930883&loc=d3e637-108580

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14A
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669686-108580

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=118930883&loc=d3e681-108580
+ Details

Name: us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Amount after tax and reclassification adjustments of other comprehensive income (loss).
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669619-108580

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21463-112644

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 55
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=118951672&loc=d3e1436-108581

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669625-108580
+ Details

Name: us-gaap_OtherComprehensiveIncomeLossNetOfTax

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Details

Name: us-gaap_StatementEquityComponentsAxis=us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: us-gaap_StatementEquityComponentsAxis=us-gaap_AccumulatedTranslationAdjustmentMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: us-gaap_StatementEquityComponentsAxis=idt_AccumulatedOtherComprehensiveMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

XML 41 R2.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Consolidated Balance Sheets - USD ($)
$ in Thousands

Oct. 31, 2019

Jul. 31, 2019

CURRENT ASSETS:

Cash and cash equivalents $ 62,183 $ 80,168

Restricted cash and cash equivalents 190,218 177,031

Debt securities 9,894 2,534

Equity investments 5,710 5,688

Trade accounts receivable, net of allowance for doubtful accounts of $5,675 at October 31, 2019 and $5,444 at July 31, 2019 50,963 58,060

Prepaid expenses 27,809 20,276

Other current assets 26,964 24,704

Total current assets 373,741 368,461

Property, plant and equipment, net 32,874 34,355

Goodwill 11,214 11,209

Other intangibles, net 4,110 4,196

Equity investments 9,337 9,319

Operating lease right-of-use assets 11,597

Deferred income tax assets, net 4,110 4,589

Other assets 12,054 11,574

Total assets 459,037 443,703

Current liabilities:

Trade accounts payable 37,159 37,077

Accrued expenses 121,058 127,834

Deferred revenue 40,739 42,479

Customer deposits 188,258 175,028

Other current liabilities 9,180 6,652

Total current liabilities 396,394 389,070

Operating lease liabilities 9,335

Other liabilities 977 1,076

Total liabilities 406,706 390,146

Commitments and contingencies

IDT Corporation stockholders' equity:

Preferred stock, $.01 par value; authorized shares—10,000; no shares issued

Additional paid-in capital 274,953 273,313

Treasury stock, at cost, consisting of 1,698 shares of Class A common stock and 908 shares of Class B common stock at October 31, 2019 and July 31, 2019 (51,739) (51,739)

Accumulated other comprehensive loss (6,062) (4,858)

Accumulated deficit (162,276) (160,763)

Total IDT Corporation stockholders' equity 55,167 56,244

Noncontrolling interests (2,836) (2,687)

Total equity 52,331 53,557

Total liabilities and equity 459,037 443,703

Class A common stock

IDT Corporation stockholders' equity:

Common stock, value 33 33

Class B common stock

IDT Corporation stockholders' equity:

Common stock, value $ 258 $ 258

X

- Definition
Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19(a))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details

Name: us-gaap_AccountsPayableCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.20)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details

Name: us-gaap_AccruedLiabilitiesCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=118930883&loc=d3e637-108580

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14A
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669686-108580

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=118930883&loc=d3e681-108580
+ Details

Name: us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30)(a)(1))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details

Name: us-gaap_AdditionalPaidInCapital

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(11))
-URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(12))
-URI http://asc.fasb.org/extlink&oid=119400593&loc=d3e572229-122910
+ Details

Name: us-gaap_Assets

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=118951113&loc=d3e6801-107765

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.9)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=118951113&loc=d3e6676-107765
+ Details

Name: us-gaap_AssetsCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- References
No definition available.
+ Details

Name: us-gaap_AssetsCurrentAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3044-108585

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section 45
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118951113&loc=d3e6676-107765

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.1)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details

Name: us-gaap_CashAndCashEquivalentsAtCarryingValue

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.25)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03.(a),19)
-URI http://asc.fasb.org/extlink&oid=119400593&loc=d3e572229-122910

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.17)
-URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=118942415&loc=d3e14326-108349
+ Details

Name: us-gaap_CommitmentsAndContingencies

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details

Name: us-gaap_CommonStockValue

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Amount of investment in debt security measured at amortized cost (held-to-maturity), investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale) and investment in debt security measured at fair value with change in fair value recognized in net income (trading); classified as current.
+ References
No definition available.
+ Details

Name: us-gaap_DebtSecuritiesCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Amount of deferred income and obligation to transfer product and service to customer for which consideration has been received or is receivable, classified as current.
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(5))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details

Name: us-gaap_DeferredRevenueCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards classified as noncurrent.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 45
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=116821951&loc=d3e31958-109318

Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 45
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=116821951&loc=d3e31917-109318

Reference 3: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 45
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=116821951&loc=d3e31931-109318

Reference 4: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 45
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=116821951&loc=d3e31928-109318

Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319
+ Details

Name: us-gaap_DeferredTaxAssetsNetNoncurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
The current portion, due within one year or one operating cycle, if longer, of deposits held other than customer deposits.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.20)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details

Name: us-gaap_DepositLiabilityCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 45
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=77989000&loc=SL49117168-202975

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=99380562&loc=d3e13770-109266
+ Details

Name: us-gaap_Goodwill

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19-26)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details

Name: us-gaap_Liabilities

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(23))
-URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(25))
-URI http://asc.fasb.org/extlink&oid=119400593&loc=d3e572229-122910

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(32))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details

Name: us-gaap_LiabilitiesAndStockholdersEquity

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.21)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details

Name: us-gaap_LiabilitiesCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- References
No definition available.
+ Details

Name: us-gaap_LiabilitiesCurrentAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
The total amount of investments that are intended to be held for an extended period of time (longer than one operating cycle).
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.12)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details

Name: us-gaap_LongTermInvestments

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest).
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(24))
-URI http://asc.fasb.org/extlink&oid=119400593&loc=d3e572229-122910

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.31)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(22))
-URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878
+ Details

Name: us-gaap_MinorityInterest

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Present value of lessee's discounted obligation for lease payments from operating lease, classified as noncurrent.
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 45
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=77888419&loc=SL77918627-209977
+ Details

Name: us-gaap_OperatingLeaseLiabilityNoncurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Amount of lessee's right to use underlying asset under operating lease.
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 45
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=77888419&loc=SL77918627-209977
+ Details

Name: us-gaap_OperatingLeaseRightOfUseAsset

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Amount of current assets classified as other.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.8)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details

Name: us-gaap_OtherAssetsCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Amount of noncurrent assets classified as other.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.17)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details

Name: us-gaap_OtherAssetsNoncurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Amount after accumulated amortization of finite-lived and indefinite-lived intangible assets classified as other.
+ References
No definition available.
+ Details

Name: us-gaap_OtherIntangibleAssetsNet

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Amount of liabilities classified as other, due within one year or the normal operating cycle, if longer.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section 45
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=118951113&loc=d3e6904-107765

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section 45
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=118951113&loc=d3e6911-107765

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.20)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details

Name: us-gaap_OtherLiabilitiesCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Amount of liabilities classified as other, due after one year or the normal operating cycle, if longer.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.24)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details

Name: us-gaap_OtherLiabilitiesNoncurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Amount of short-term investments classified as other.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03.1(g))
-URI http://asc.fasb.org/extlink&oid=119400593&loc=d3e572229-122910

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.8)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.5)
-URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878
+ Details

Name: us-gaap_OtherShortTermInvestments

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details

Name: us-gaap_PreferredStockValue

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Amount of asset related to consideration paid in advance for costs that provide economic benefits within a future period of one year or the normal operating cycle, if longer.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=118951113&loc=d3e6787-107765

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section 45
-Paragraph 1
-Subparagraph (g)
-URI http://asc.fasb.org/extlink&oid=118951113&loc=d3e6676-107765

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 340
-SubTopic 10
-Section 05
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=68074540&loc=d3e5879-108316
+ Details

Name: us-gaap_PrepaidExpenseCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(14))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(8))
-URI http://asc.fasb.org/extlink&oid=119400593&loc=d3e572229-122910

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(13))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details

Name: us-gaap_PropertyPlantAndEquipmentNet

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
The total amount due to the entity within one year of the balance sheet date (or one operating cycle, if longer) from outside sources, including trade accounts receivable, notes and loans receivable, as well as any other types of receivables, net of allowances established for the purpose of reducing such receivables to an amount that approximates their net realizable value.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(5))
-URI http://asc.fasb.org/extlink&oid=119400593&loc=d3e572229-122910

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(3))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 210
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-06(3))
-URI http://asc.fasb.org/extlink&oid=6488278&loc=d3e604059-122996

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(4))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details

Name: us-gaap_ReceivablesNetCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Amount of cash and cash equivalents restricted as to withdrawal or usage, classified as current. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section 45
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118951113&loc=d3e6676-107765

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3044-108585

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(1))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=98513485&loc=SL98516268-108586
+ Details

Name: us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
The cumulative amount of the reporting entity's undistributed earnings or deficit.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30)(a)(3))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(23)(a)(4))
-URI http://asc.fasb.org/extlink&oid=119400593&loc=d3e572229-122910

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770
+ Details

Name: us-gaap_RetainedEarningsAccumulatedDeficit

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 4.E)
-URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(31))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details

Name: us-gaap_StockholdersEquity

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- References
No definition available.
+ Details

Name: us-gaap_StockholdersEquityAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=108774443&loc=SL4568740-111683

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4I
-URI http://asc.fasb.org/extlink&oid=116874947&loc=SL4590271-111686

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=108774443&loc=SL4568447-111683
+ Details

Name: us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23315-112656

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29,30)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6405813&loc=d3e23239-112655
+ Details

Name: us-gaap_TreasuryStockValue

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Details

Name: us-gaap_StatementClassOfStockAxis=us-gaap_CommonClassAMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: us-gaap_StatementClassOfStockAxis=us-gaap_CommonClassBMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

XML 42 R6.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Consolidated Statements of Equity (Unaudited) - USD ($)
$ in Thousands

IDT Corporation Stockholders

Class A Common Stock

IDT Corporation Stockholders

Class B Common Stock

IDT Corporation Stockholders

Additional Paid-In Capital

IDT Corporation Stockholders

Treasury Stock

IDT Corporation Stockholders

Accumulated Other Comprehensive Loss

IDT Corporation Stockholders

Accumulated Deficit

Noncontrolling Interests

Total

Beginning Balance at Jul. 31, 2018 $ 33 $ 256 $ 294,047 $ (85,597) $ (4,972) $ (173,103) $ 639 $ 31,303

Adjustment from the adoption of change in revenue recognition 9,064 9,064

Adjustment from the adoption of change in accounting for equity investments 33 1,140 1,173

BALANCE AT AUGUST 1, 2018 at Jul. 31, 2018 33 256 294,047 (85,597) (4,939) (162,899) 639 41,540

Repurchases of Class B common stock through repurchase program (3,854) (3,854)

Stock-based compensation 413 413

Distributions to noncontrolling interests (339) (339)

Other comprehensive loss/income 522 522

Net loss (2,299) 301 (1,998)

Ending Balance at Oct. 31, 2018 33 256 294,460 (89,451) (4,417) (165,198) 601 36,284

Beginning Balance at Jul. 31, 2019 33 258 273,313 (51,739) (4,858) (160,763) (2,687) 53,557

Exercise of stock options 276 276

Stock-based compensation 1,364 1,364

Distributions to noncontrolling interests (240) (240)

Other comprehensive loss/income (1,204) (1,204)

Net loss (1,513) 91 (1,422)

Ending Balance at Oct. 31, 2019 $ 33 $ 258 $ 274,953 $ (51,739) $ (6,062) $ (162,276) $ (2,836) $ 52,331

X

- References
No definition available.
+ Details

Name: idt_AdjustmentsFromChangeInRevenueRecognition

Namespace Prefix: idt_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
The amount distribution to no controlling interests.
+ References
No definition available.
+ Details

Name: idt_DistributionToNoncontrollingInterests

Namespace Prefix: idt_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
Repurchase of common stock under stock repurchase program.
+ References
No definition available.
+ Details

Name: idt_RepurchaseOfCommonStockUnderStockRepurchaseProgram

Namespace Prefix: idt_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
Stock based compensation.
+ References
No definition available.
+ Details

Name: idt_StockBasedCompensation

Namespace Prefix: idt_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
Amount of the cumulative effect on retained earnings net of related income tax effect.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22663-107794
+ Details

Name: us-gaap_CumulativeEffectOnRetainedEarningsNetOfTax1

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
Amount after tax and reclassification adjustments of other comprehensive income (loss).
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669619-108580

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21463-112644

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 55
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=118951672&loc=d3e1436-108581

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669625-108580
+ Details

Name: us-gaap_OtherComprehensiveIncomeLossNetOfTax

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669619-108580

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (a)(1)
-URI http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669625-108580

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4J
-URI http://asc.fasb.org/extlink&oid=116874947&loc=SL4591551-111686

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3000-108585

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=108774443&loc=SL4569616-111683

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4K
-URI http://asc.fasb.org/extlink&oid=116874947&loc=SL4591552-111686
+ Details

Name: us-gaap_ProfitLoss

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
Value of stock issued as a result of the exercise of stock options.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21463-112644

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29-31)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details

Name: us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=108774443&loc=SL4568740-111683

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4I
-URI http://asc.fasb.org/extlink&oid=116874947&loc=SL4590271-111686

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=108774443&loc=SL4568447-111683
+ Details

Name: us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Amount of stockholders' equity including the portion attributable to noncontrolling interests, after the cumulative effect adjustment of a new accounting principle applied in the period of adoption.
+ References
No definition available.
+ Details

Name: us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

XML 43 R58.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Acquisition of Versature Corp. (Details) - USD ($)
$ in Thousands
3 Months Ended

Oct. 31, 2019

Oct. 31, 2018

Business Combinations [Abstract]

Revenues $ 340,245 $ 363,200

Net loss $ (1,422) $ (2,206)

X

- Definition
The pro forma net Income or Loss for the period as if the business combination or combinations had been completed at the beginning of a period.
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463
+ Details

Name: us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
The pro forma revenue for a period as if the business combination or combinations had been completed at the beginning of the period.
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463
+ Details

Name: us-gaap_BusinessAcquisitionsProFormaRevenue

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- References
No definition available.
+ Details

Name: us-gaap_BusinessCombinationsAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 44 R50.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Debt Securities (Details Textual) - USD ($)
$ in Thousands
3 Months Ended

Oct. 31, 2019

Oct. 31, 2018

Debt Securities (Textual)

Proceeds from maturities and sales of available-for-sale securities $ 800 $ 3,400

Realized losses from sales of available-for-sale debt securities

Realized gains from sales of available-for-sale debt securities

X

- Definition
Marketable Securities Textual.
+ References
No definition available.
+ Details

Name: idt_DebtSecuritiesTextualAbstract

Namespace Prefix: idt_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
This item represents the gross profit realized on the sale of debt or equity securities categorized neither as held-to-maturity nor trading securities.
+ References
No definition available.
+ Details

Name: us-gaap_AvailableForSaleSecuritiesGrossRealizedGains

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
This item represents the gross loss realized on the sale of debt or equity securities categorized neither as held-to-maturity nor trading securities.
+ References
No definition available.
+ Details

Name: us-gaap_AvailableForSaleSecuritiesGrossRealizedLosses

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
Amount of cash inflow from sale, maturity, prepayment and call of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3151-108585

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3179-108585

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=118954083&loc=d3e26853-111562
+ Details

Name: us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

XML 45 R54.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Equity Investments (Details Textual) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended

Oct. 31, 2019

Oct. 31, 2018

Jul. 31, 2019

Jun. 30, 2016

Common Class B | Zedge Inc [Member]

Equity Investments (Textual)

Shares of common stock 42,282 42,282

Common Class B | Rafael Holdings Inc [Member]

Equity Investments (Textual)

Shares of common stock 27,419 27,419

Visa Series C Preferred [Member]

Equity Investments (Textual)

Owned shares 1,830 1,830 1,830

Shares owned fair value $ 18 $ 22

Convertible shares 13.886

X

- References
No definition available.
+ Details

Name: idt_EquityInvestmentsTextualAbstract

Namespace Prefix: idt_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
The Number of related party shares received in connection with restricted stock.
+ References
No definition available.
+ Details

Name: idt_NumberOfRelatedPartySharesReceivedInConnectionWithRestrictedStock

Namespace Prefix: idt_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: duration

X

- Definition
Number of shares issued for each share of convertible preferred stock that is converted.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(27))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644
+ Details

Name: us-gaap_ConvertiblePreferredStockSharesIssuedUponConversion

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

X

- Definition
Amount of gain from upward price adjustment on investment in equity security without readily determinable fair value.
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 321
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=116654751&loc=SL75117539-209714
+ Details

Name: us-gaap_EquitySecuritiesWithoutReadilyDeterminableFairValueUpwardPriceAdjustmentAnnualAmount

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
Balance held at close of period in number of shares.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 210
-Section 50
-Paragraph 6
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=99383244&loc=d3e12121-115841

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 320
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14.Column B)
-URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611322-123010

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 320
-Section S99
-Paragraph 4
-Subparagraph (SX 210.12-12C.Column B)
-URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611225-123010

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 320
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-12.Column B)
-URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611133-123010
+ Details

Name: us-gaap_InvestmentOwnedBalanceShares

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

X

- Details

Name: us-gaap_StatementClassOfStockAxis=us-gaap_CommonClassBMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: dei_LegalEntityAxis=idt_ZedgeIncMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: dei_LegalEntityAxis=idt_RafaelHoldingsIncMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: us-gaap_StatementClassOfStockAxis=idt_VisaSeriesCConvertibleParticipatingPreferredStockMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

XML 46 R12.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Debt Securities
3 Months Ended

Oct. 31, 2019

Investments, Debt and Equity Securities [Abstract]

Debt Securities
Note 5—Debt Securities

The following is a summary of available-for-sale debt securities:

Amortized Cost

Gross Unrealized Gains

Gross Unrealized Losses

Fair Value

(in thousands)

October 31, 2019:

Certificates of deposit* $ 9,894 $ — $ — $ 9,894

July 31, 2019:

Certificates of deposit* $ 2,234 $ — $ — $ 2,234

Municipal bonds 300 — — 300

Total $ 2,534 $ — $ — $ 2,534

* Each of the Company's certificates of deposit has a CUSIP, was purchased in the secondary market through a broker, and may be sold in the secondary market.

Proceeds from maturities and sales of debt securities and sales of equity investments were $0.8 million and $3.4 million in the three months ended October 31, 2019 and 2018, respectively. There were no realized gains or realized losses from sales of debt securities in the three months ended October 31, 2019 and 2018. The Company uses the specific identification method in computing the realized gains and realized losses on the sales of debt securities.

The contractual maturities of the Company's available-for-sale debt securities at October 31, 2019 were as follows:

Fair Value

(in thousands)

Within one year $ 8,694

After one year through five years 1,200

After five years through ten years —

After ten years —

Total $ 9,894

X

- References
No definition available.
+ Details

Name: us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
The entire disclosure for investments in certain debt and equity securities.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 320
-URI http://asc.fasb.org/subtopic&trid=2209399

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 320
-URI http://asc.fasb.org/subtopic&trid=2324412

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-URI http://asc.fasb.org/topic&trid=2196928

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 320
-URI http://asc.fasb.org/subtopic&trid=2176304
+ Details

Name: us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 47 R16.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Other Operating Expense, Net
3 Months Ended

Oct. 31, 2019

Other Operating Expense [Abstract]

Other Operating Expense, Net
Note 9—Other Operating Expense, Net

The following table summarizes the other operating expense, net by business segment:

Three Months Ended
October 31,

2019

2018

(in thousands)

Corporate—Straight Path Communications Inc. class action legal fees $ 260 $ 195

net2phone—indemnification claim 365 —

Telecom & Payment Services—accrual for non-income related taxes related to a foreign subsidiary 2,150 1,100

Total other operating expense, net $ 2,775 $ 1,295

Straight Path Communications Inc. Class Action

On July 31, 2013, the Company completed a pro rata distribution of the common stock of the Company's subsidiary Straight Path Communications Inc. ("Straight Path") to the Company's stockholders of record as of the close of business on July 25, 2013. As discussed in Note 15, a putative class action on behalf of Straight Path's stockholders and derivative complaint was filed naming the Company, among others. In the three months ended October 31, 2019 and 2018, the Company incurred legal fees of $0.7 million and $0.2 million, respectively, related to this action. Also, in the three months ended October 31, 2019, the Company recorded insurance proceeds for this matter of $0.4 million.

Indemnification Claim

In June 2019, as part of a commercial resolution, the Company indemnified a net2phone cable telephony customer related to patent infringement claims brought against the customer.

Accrual for Non-Income Related Taxes

In the fourth quarter of fiscal 2019, the Company recorded an $8.0 million accrual for non-income related taxes related to one of its foreign subsidiaries. A portion of the accrual related to each of the fiscal quarters in fiscal 2019. Accordingly, the Company corrected its consolidated financial statements for the three months ended October 31, 2018, January 31, 2019, and April 30, 2019 to include the accrued expense and the related income tax benefit. The Company has determined that the adjustments were not material to its previously issued quarterly financial statements. The impact of the correction on the Company's previously issued consolidated financial statements for the three months ended October 31, 2018 was as follows:

Three Months Ended October 31, 2018

Previously Reported

Error Correction

As Adjusted

(in thousands, except per share data)

Consolidated Statement of Operations:

Other operating expense $ (195 ) $ (1,100 ) $ (1,295 )

Provision for income taxes $ (1,189 ) $ 250 $ (939 )

Net loss $ (1,148 ) $ (850 ) $ (1,998 )

Net loss attributable to IDT Corporation $ (1,449 ) $ (850 ) $ (2,299 )

Loss per share attributable to IDT Corporation common stockholders:

Basic $ (0.06 ) $ (0.04 ) $ (0.10 )

Diluted $ (0.06 ) $ (0.04 ) $ (0.10 )

X

- References
No definition available.
+ Details

Name: idt_OtherOperatingExpensesGainsNetAbstract

Namespace Prefix: idt_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
The entire disclosure for other operating income and other operating expense items.
+ References
No definition available.
+ Details

Name: us-gaap_OtherOperatingIncomeAndExpenseTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 48 R35.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Business Segment Information (Tables)
3 Months Ended

Oct. 31, 2019

Segment Reporting [Abstract]

Schedule of operating results of business segments

(in thousands) Telecom &
Payment
Services net2phone Corporate Total

Three Months Ended October 31, 2019

Revenues $ 327,618 $ 12,627 $ — $ 340,245

Income (loss) from operations 4,372 (3,263 ) (2,501 ) (1,392 )

Other operating expense, net (2,150 ) (365 ) (260 ) (2,775 )

Three Months Ended October 31, 2018

Revenues $ 351,849 $ 10,467 $ — $ 362,316

Income (loss) from operations 4,169 (1,500 ) (2,487 ) 182

Other operating expense, net (1,100 ) — (195 ) (1,295 )

X

- Definition
Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8813-108599

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13816-109267

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8721-108599

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599
+ Details

Name: us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- References
No definition available.
+ Details

Name: us-gaap_SegmentReportingAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 49 R31.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Acquisition of Versature Corp. (Tables)
3 Months Ended

Oct. 31, 2019

Business Combinations [Abstract]

Schedule of business acquisition pro forma information

Three Months Ended

October 31,

2019 2018

(in thousands)

Revenues $ 340,245 $ 363,200

Net loss $ (1,422 ) $ (2,206 )

X

- Definition
Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.
+ References
Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463
+ Details

Name: us-gaap_BusinessAcquisitionProFormaInformationTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- References
No definition available.
+ Details

Name: us-gaap_BusinessCombinationsAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 50 R39.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Revenue Recognition (Details 2) - USD ($)
$ in Thousands
3 Months Ended

Oct. 31, 2019

Oct. 31, 2018

Contract Liabilities [Member]

Revenue from External Customer [Line Items]

Revenue recognized in the period from amounts included in the contract liability balance at the beginning of the period $ 29,112 $ 28,506

X

- Definition
Amount of revenue recognized that was previously included in balance of obligation to transfer good or service to customer for which consideration from customer has been received or is due.
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 8
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=118956577&loc=SL49130549-203045
+ Details

Name: us-gaap_ContractWithCustomerLiabilityRevenueRecognized

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ References
No definition available.
+ Details

Name: us-gaap_EntityWideInformationRevenueFromExternalCustomerLineItems

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Details

Name: us-gaap_DerivativeInstrumentRiskAxis=idt_ContractLiabilitiesMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

XML 51 R22.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Commitments and Contingencies
3 Months Ended

Oct. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies
Note 15—Commitments and Contingencies

Legal Proceedings

On April 12, 2019, Scarleth Samara filed a putative class action against IDT Telecom in the U.S. District Court for the Eastern District of Louisiana alleging certain violations of the Telephone Consumer Protection Act of 1991. Plaintiff alleges that in October of 2017, IDT Telecom sent unauthorized marketing messages to her cellphone. IDT Telecom filed a motion to compel arbitration. On or about August 19, 2019, the plaintiff agreed to dismiss the pending court action and the parties intend to proceed with arbitration. At this stage, the Company is unable to estimate its potential liability, if any. The Company intends to vigorously defend the claim.

On January 22, 2019, Jose Rosales filed a putative class action against IDT America, IDT Domestic Telecom and IDT International in California state court alleging certain violations of employment law. Plaintiff alleges that these companies failed to compensate members of the putative class in accordance with California law. The Company is evaluating the claims, and at this stage, is unable to estimate its potential liability, if any. The Company intends to vigorously defend the claims. In August 2019, the Company filed a cross complaint against Rosales alleging trade secret and other violations.

On May 21, 2018, Erik Dennis filed a putative class action against IDT Telecom and the Company in the U.S. District Court for the Northern District of Georgia alleging violations of Do Not Call Regulations promulgated by the U.S. Federal Trade Commission. On October 31, 2019, the parties settled the matter and filed a stipulation of dismissal with prejudice.

On May 2, 2018, Jean Carlos Sanchez filed a putative class action against IDT Telecom in the U.S. District Court for the Northern District of Illinois alleging that the Company sent unauthorized marketing messages to cellphones in violation of the Telephone Consumer Protection Act of 1991. On July 26, 2018, the parties filed a stipulation of dismissal. The Company is evaluating the claim, and at this stage, is unable to estimate its potential liability, if any. The Company intends to vigorously defend this matter.

On April 24, 2018, Sprint Communications Company L.P. filed a patent infringement claim against the Company and certain of its affiliates in the U.S. District Court for the District of Delaware alleging infringement of U.S. Patent Nos. 6,298,064; 6,330,224; 6,343,084; 6,452,932; 6,463,052; 6,473,429; 6,563,918; 6,633,561; 6,697,340; 6,999,463; 7,286,561; 7,324,534; 7,327,728; 7,505,454; and 7,693,131. Plaintiff was seeking damages and injunctive relief. On June 28, 2018, Sprint dismissed the complaint without prejudice. The Company is evaluating the underlying claim, and at this stage, is unable to estimate its potential liability, if any. The Company intends to vigorously defend any claim of infringement of the listed patents.

On July 5, 2017, plaintiff JDS1, LLC, on behalf of itself and all other similarly situated stockholders of Straight Path, and derivatively on behalf of Straight Path as nominal defendant, filed a putative class action and derivative complaint in the Court of Chancery of the State of Delaware against the Company, The Patrick Henry Trust (a trust formed by Howard S. Jonas that held record and beneficial ownership of certain shares of Straight Path he formerly held), Howard S. Jonas, and each of Straight Path's directors. The complaint alleges that the Company aided and abetted Straight Path Chairman of the Board and Chief Executive Officer Davidi Jonas, and Howard S. Jonas in his capacity as controlling stockholder of Straight Path, in breaching their fiduciary duties to Straight Path in connection with the settlement of claims between Straight Path and the Company related to potential indemnification claims concerning Straight Path's obligations under the Consent Decree it entered into with the Federal Communications Commission ("FCC"), as well as the sale of Straight Path's subsidiary Straight Path IP Group, Inc. to the Company in connection with that settlement. That action was consolidated with a similar action that was initiated by The Arbitrage Fund. The Plaintiffs are seeking, among other things, (i) a declaration that the action may be maintained as a class action or in the alternative, that demand on the Straight Path Board is excused; (ii) that the term sheet is invalid; (iii) awarding damages for the unfair price stockholders received in the merger between Straight Path and Verizon Communications Inc. for their shares of Straight Path's Class B common stock; and (iv) ordering Howard S. Jonas, Davidi Jonas, and the Company to disgorge any profits for the benefit of the class Plaintiffs. On August 28, 2017, the Plaintiffs filed an amended complaint. On September 24, 2017, the Company filed a motion to dismiss the amended complaint. Following closing of the transaction, the Delaware Chancery Court denied the motion to dismiss. On February 22, 2019, the Delaware Supreme Court affirmed the denial of the motion to dismiss. The parties are engaged in discovery. The Company intends to vigorously defend this matter (see Note 9). At this stage, the Company is unable to estimate its potential liability, if any.

In addition to the foregoing, the Company is subject to other legal proceedings that have arisen in the ordinary course of business and have not been finally adjudicated. Although there can be no assurance in this regard, the Company believes that none of the other legal proceedings to which the Company is a party will have a material adverse effect on the Company's results of operations, cash flows or financial condition.

Sales Tax Contingency

On June 21, 2018, the United States Supreme Court rendered a decision in South Dakota v. Wayfair, Inc., holding that a state may require a remote seller with no physical presence in the state to collect and remit sales tax on goods and services provided to purchasers in the state, overturning certain existing court precedent. The Company is evaluating its state tax filings with respect to the Wayfair decision and is in the process of reviewing its collection practices. It is possible that one or more jurisdictions may assert that the Company has liability for periods for which it has not collected sales, use or other similar taxes, and if such an assertion or assertions were successful it could materially and adversely affect the Company's business, financial position and operating results. One or more jurisdictions may change their laws or policies to apply their sales, use or other similar taxes to the Company's operations, and if such changes were made it could materially and adversely affect the Company's business, financial position and operating results.

Regulatory Fee Audit

The Company's 2017 FCC Form 499-A, which reports its calendar year 2016 revenue, related to payments due to the FCC, is currently under audit by the Internal Audit Division of the Universal Service Administrative Company. At October 31, 2019 and July 31, 2019, the Company's accrued expenses included $42.1 million and $44.7 million, respectively, for these regulatory fees for the years covered by the audit, as well as prior and subsequent years.

Purchase Commitments

At October 31, 2019, the Company had purchase commitments of $30.7 million, including the aggregate commitment of $26.5 million under the telecom services commitments described below.

Telecom Services Commitments

In May 2019, the Company entered into a Memorandum of Understanding ("MOU") with a telecom operator in Central America for among other things, termination of inbound and outbound international long-distance voice calls. The MOU is effective until December 31, 2019, unless superseded by the execution of a definitive agreement. The Company has committed to pay such telecom operator monthly committed amounts during the term of the MOU. The parties intend to draft and execute a definitive agreement as soon as practicable.

In August 2017, the Company entered into a Reciprocal Services Agreement with a telecom operator in Central America for a full range of services, including, but not limited to, termination of inbound and outbound international long-distance voice calls. The Company has committed to pay such telecom operator monthly committed amounts during the term of the agreement. In addition, under certain limited circumstances, either party has the right to terminate the agreement. Pursuant to the agreement, the Company deposited $9.2 million into an escrow account as security for the benefit of the telecom operator, which is included in "Other current assets" in the accompanying consolidated balance sheet based on the terms and conditions of the agreement.

Performance Bonds

The Company has performance bonds issued through third parties for the benefit of various states in order to comply with the states' financial requirements for money remittance licenses and telecommunications resellers. At October 31, 2019, the Company had aggregate performance bonds of $17.5 million outstanding.

Company Restricted Cash and Cash Equivalents

The Company treats unrestricted cash and cash equivalents held by IDT Payment Services, which provides the Company's international money transfer services in the United States, as substantially restricted and unavailable for other purposes. At October 31, 2019 and July 31, 2019, "Cash and cash equivalents" in the Company's consolidated balance sheets included an aggregate of $9.8 million and $13.2 million, respectively, held by IDT Payment Services that was unavailable for other purposes.

FCC Investigation of Straight Path Spectrum LLC

On September 20, 2016, the Company received a letter of inquiry from the Enforcement Bureau of the FCC requesting certain information and materials related to an investigation of potential violations by Straight Path Spectrum LLC (formerly a subsidiary of the Company and Straight Path) in connection with licenses to operate on the 28 GHz and 39 GHz bands of the Fixed Microwave Services. The Company has cooperated with the FCC in this matter and has responded to the letter of inquiry. If the FCC were to pursue separate action against the Company, the FCC could seek to fine or impose regulatory penalties or civil liability on the Company related to activities during the period of ownership by the Company.

X

- References
No definition available.
+ Details

Name: us-gaap_CommitmentsAndContingenciesDisclosureAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
The entire disclosure for legal proceedings, legal contingencies, litigation, regulatory and environmental matters and other contingencies.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-URI http://asc.fasb.org/topic&trid=2127136
+ Details

Name: us-gaap_LegalMattersAndContingenciesTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 52 R26.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Leases (Tables)
3 Months Ended

Oct. 31, 2019

Leases [Abstract]

Schedule of supplemental disclosures related to the Company's operating leases cost

Three Months Ended October 31,
2019

(in thousands)

Operating lease cost $ 711

Short-term lease cost 58

Total lease cost $ 769

Cash paid for amounts included in the measurement of lease liabilities:

Operating cash flows from operating leases $ 684

October 31,
2019

Weighted-average remaining lease term-operating leases 4.9 years

Weighted-average discount rate-operating leases 3.12 %

Schedule of aggregate operating lease liability

October 31,
2019

(in thousands)

Operating lease liabilities included in "Other current liabilities" $ 2,417

Operating lease liabilities included in noncurrent liabilities 9,335

Total $ 11,752

Schedule of future minimum maturities of operating lease liabilities

Twelve-month period ending October 31,

(in thousands)

2020 $ 2,776

2021 2,637

2022 2,438

2023 1,996

2024 1,880

Thereafter 986

Total lease payments 12,713

Less imputed interest (961 )

Total operating lease liabilities $ 11,752

X

- Definition
Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.
+ References
Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980
+ Details

Name: us-gaap_LeaseCostTableTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- References
No definition available.
+ Details

Name: us-gaap_LeasesAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.
+ References
Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980
+ Details

Name: us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Definition
Tabular disclosure for lessee's operating leases. Includes, but is not limited to, description of lessee's operating lease, existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 10
-Section 55
-Paragraph 40
-Subparagraph (Note 1,3)
-URI http://asc.fasb.org/extlink&oid=82846649&loc=d3e38371-112697

Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=77902758&loc=d3e41499-112717

Reference 3: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=118943654&loc=d3e12069-110248

Reference 4: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 20
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=77902758&loc=d3e41502-112717

Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84164451&loc=d3e36991-112694
+ Details

Name: us-gaap_OperatingLeasesOfLesseeDisclosureTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 53 R60.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Other Operating Expense, Net (Details) - USD ($)
$ in Thousands
3 Months Ended

Oct. 31, 2019

Oct. 31, 2018

Other Operating Expense [Abstract]

Corporate—Straight Path Communications Inc. class action legal fees $ 260 $ 195

net2phone—indemnification claim 365

Telecom & Payment Services-accrual for non-income related taxes related to a foreign subsidiary 2,150 1,100

Total other operating expense, net $ (2,775) $ (1,295)

X

- References
No definition available.
+ Details

Name: idt_AccrualForNonIncomeRelatedTaxes

Namespace Prefix: idt_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
It represents about loss contingency loss in period including legal fees other general expense.
+ References
No definition available.
+ Details

Name: idt_LossContingencyLossInPeriodIncludingLegalFeesAndOtherGeneralExpense

Namespace Prefix: idt_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
The amount claim transaction fo phone indemnification.
+ References
No definition available.
+ Details

Name: idt_Net2phoneindemnificationClaim

Namespace Prefix: idt_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- References
No definition available.
+ Details

Name: idt_OtherOperatingExpensesGainsNetAbstract

Namespace Prefix: idt_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
The net amount of other operating income and expenses, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operations.
+ References
No definition available.
+ Details

Name: us-gaap_OtherOperatingIncomeExpenseNet

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

XML 54 R8.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Basis of Presentation
3 Months Ended

Oct. 31, 2019

Accounting Policies [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 notes 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 months ended October 31, 2019 are not necessarily indicative of the results that may be expected for the fiscal year ending July 31, 2020. The balance sheet at July 31, 2019 has been derived from the Company's audited financial statements at that date but does not include all of the information and notes 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 fiscal year ended July 31, 2019, 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 2020 refers to the fiscal year ending July 31, 2020).

X

- References
No definition available.
+ Details

Name: us-gaap_AccountingPoliciesAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
The entire disclosure for the business description and basis of presentation concepts. Business description describes the nature and type of organization including but not limited to organizational structure as may be applicable to holding companies, parent and subsidiary relationships, business divisions, business units, business segments, affiliates and information about significant ownership of the reporting entity. Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS).
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-URI http://asc.fasb.org/topic&trid=2122369

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-URI http://asc.fasb.org/topic&trid=2122149

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 275
-URI http://asc.fasb.org/topic&trid=2134479
+ Details

Name: us-gaap_BusinessDescriptionAndBasisOfPresentationTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 55 R64.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Loss Per Share (Details) - shares
3 Months Ended

Oct. 31, 2019

Oct. 31, 2018

Shares were excluded from the diluted earnings per share computations

Shares excluded from the calculation of diluted earnings per share 1,806 1,292

Stock options [Member]

Shares were excluded from the diluted earnings per share computations

Shares excluded from the calculation of diluted earnings per share 1,190 1,243

Non-vested restricted Class B common stock [Member]

Shares were excluded from the diluted earnings per share computations

Shares excluded from the calculation of diluted earnings per share 616 49

X

- Definition
Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257
+ Details

Name: us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: duration

X

- References
No definition available.
+ Details

Name: us-gaap_EarningsPerShareDilutedOtherDisclosuresAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Details

Name: us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis=us-gaap_EmployeeStockOptionMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis=idt_NonvestedRestrictedClassBCommonStockMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

XML 56 R68.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Business Segment Information (Details Textual)
3 Months Ended

Oct. 31, 2019

Segment

Business Segment Information (Textual)

Number of reportable segments 2

X

- References
No definition available.
+ Details

Name: idt_BusinessSegmentInformationTextualAbstract

Namespace Prefix: idt_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Number of segments reported by the entity. A reportable segment is a component of an entity for which there is an accounting requirement to report separate financial information on that component in the entity's financial statements.
+ References
No definition available.
+ Details

Name: us-gaap_NumberOfReportableSegments

Namespace Prefix: us-gaap_

Data Type: xbrli:integerItemType

Balance Type: na

Period Type: duration

XML 57 R4.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended

Oct. 31, 2019

Oct. 31, 2018

Income Statement [Abstract]

Revenues $ 340,245 $ 362,316

Costs and expenses:

Direct cost of revenues (exclusive of depreciation and amortization) 279,461 304,693

Selling, general and administrative ^[1] 53,480 50,552

Depreciation and amortization 5,295 5,594

Severance 626

Total costs and expenses 338,862 360,839

Other operating expense, net (see Note 9) (2,775) (1,295)

(Loss) income from operations (1,392) 182

Interest income, net 272 108

Other income (expense), net 234 (1,349)

Loss before income taxes (886) (1,059)

Provision for income taxes (536) (939)

Net loss (1,422) (1,998)

Net income attributable to noncontrolling interests (91) (301)

Net loss attributable to IDT Corporation $ (1,513) $ (2,299)

Basic and diluted loss per share attributable to IDT Corporation common stockholders $ (0.06) $ (0.1)

Weighted-average number of shares used in calculation of basic and diluted loss per share 26,279 23,831

(i) Stock-based compensation included in selling, general and administrative expenses $ 1,364 $ 413

[1] Stock-based compensation included in selling, general and administrative expenses

X

- Definition
The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585
+ Details

Name: us-gaap_DepreciationAndAmortization

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.
+ References
Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=117326831&loc=d3e1337-109256
+ Details

Name: us-gaap_EarningsPerShareBasicAndDiluted

Namespace Prefix: us-gaap_

Data Type: num:perShareItemType

Balance Type: na

Period Type: duration

X

- Definition
Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 20
-Section 25
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=68072869&loc=d3e41242-110953

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(8))
-URI http://asc.fasb.org/extlink&oid=116637232&loc=SL114874131-224263

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260
+ Details

Name: us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- References
No definition available.
+ Details

Name: us-gaap_IncomeStatementAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 20
-Section 45
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109238882&loc=d3e38679-109324
+ Details

Name: us-gaap_IncomeTaxExpenseBenefit

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
The net amount of operating interest income (expense).
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04.10)
-URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260
+ Details

Name: us-gaap_InterestIncomeExpenseNet

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669619-108580

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669625-108580

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-URI http://asc.fasb.org/extlink&oid=116637232&loc=SL114874131-224263

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257
+ Details

Name: us-gaap_NetIncomeLoss

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
Amount of Net Income (Loss) attributable to noncontrolling interest.
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669625-108580

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (a)(2)
-URI http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669619-108580

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4J
-URI http://asc.fasb.org/extlink&oid=116874947&loc=SL4591551-111686
+ Details

Name: us-gaap_NetIncomeLossAttributableToNoncontrollingInterest

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business).
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.7)
-URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227
+ Details

Name: us-gaap_NonoperatingIncomeExpense

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Excludes Selling, General and Administrative Expense.
+ References
No definition available.
+ Details

Name: us-gaap_OperatingCostsAndExpenses

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense.
+ References
No definition available.
+ Details

Name: us-gaap_OperatingExpenses

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- References
No definition available.
+ Details

Name: us-gaap_OperatingExpensesAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
The net result for the period of deducting operating expenses from operating revenues.
+ References
No definition available.
+ Details

Name: us-gaap_OperatingIncomeLoss

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
The net amount of other operating income and expenses, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operations.
+ References
No definition available.
+ Details

Name: us-gaap_OtherOperatingIncomeExpenseNet

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669619-108580

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (a)(1)
-URI http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669625-108580

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4J
-URI http://asc.fasb.org/extlink&oid=116874947&loc=SL4591551-111686

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3000-108585

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=108774443&loc=SL4569616-111683

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4K
-URI http://asc.fasb.org/extlink&oid=116874947&loc=SL4591552-111686
+ Details

Name: us-gaap_ProfitLoss

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8933-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(1))
-URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227
+ Details

Name: us-gaap_Revenues

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-SubTopic 10
-Section 30
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=68048583&loc=d3e3636-108311

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.4)
-URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227
+ Details

Name: us-gaap_SellingGeneralAndAdministrativeExpense

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
Amount of expenses for special or contractual termination benefits provided to current employees involuntarily terminated under a benefit arrangement associated exit or disposal activities pursuant to an authorized plan. Excludes expenses related to one-time termination benefits, a discontinued operation or an asset retirement obligation.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 5.P.3)
-URI http://asc.fasb.org/extlink&oid=115931487&loc=d3e140864-122747

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.P.4(b))
-URI http://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585
+ Details

Name: us-gaap_SeveranceCosts1

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
Amount of noncash expense for share-based payment arrangement.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585
+ Details

Name: us-gaap_ShareBasedCompensation

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS).
+ References
No definition available.
+ Details

Name: us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: duration

XML 58 R47.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents (Details Textual) - USD ($)
$ in Thousands

Oct. 31, 2019

Jul. 31, 2019

Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents (Textual)

Restricted cash and cash equivalents $ 190,218 $ 177,031

IDT Financial Services Limited [Member]

Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents (Textual)

Restricted cash and cash equivalents $ 190,100 $ 176,800

X

- References
No definition available.
+ Details

Name: idt_CashCashEquivalentsAndRestrictedCashAndCashEquivalentsTextualAbstract

Namespace Prefix: idt_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Amount of cash and cash equivalents restricted as to withdrawal or usage, classified as current. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section 45
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118951113&loc=d3e6676-107765

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3044-108585

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(1))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=98513485&loc=SL98516268-108586
+ Details

Name: us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Details

Name: srt_ProductOrServiceAxis=idt_IDTFinancialServicesLimitedMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

XML 59 R43.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Leases (Details 1) - USD ($)
$ in Thousands

Oct. 31, 2019

Jul. 31, 2019

Leases [Abstract]

Operating lease liabilities included in "Other current liabilities" $ 2,417

Operating lease liabilities included in noncurrent liabilities 9,335

Total $ 11,752

X

- References
No definition available.
+ Details

Name: us-gaap_LeasesAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Present value of lessee's discounted obligation for lease payments from operating lease.
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 45
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=77888419&loc=SL77918627-209977
+ Details

Name: us-gaap_OperatingLeaseLiability

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Present value of lessee's discounted obligation for lease payments from operating lease, classified as current.
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 45
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=77888419&loc=SL77918627-209977
+ Details

Name: us-gaap_OperatingLeaseLiabilityCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Present value of lessee's discounted obligation for lease payments from operating lease, classified as noncurrent.
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 45
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=77888419&loc=SL77918627-209977
+ Details

Name: us-gaap_OperatingLeaseLiabilityNoncurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

EXCEL 60 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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end XML 61 R52.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Equity Investments (Details 1) - Equity Method Investments [Member] - USD ($)
$ in Thousands
3 Months Ended

Oct. 31, 2019

Oct. 31, 2018

Equity Securities without Readily Determinable Fair Value [Line Items]

Balance, beginning of period $ 3,919 $ 1,883

Adoption of change in accounting for equity investments 1,213

Adjusted balance 3,919 3,096

Adjustment for observable transactions involving a similar investment from the same issuer 18 22

Impairments

Balance, end of the period $ 3,937 $ 3,118

X

- Definition
Amount of equity investments adjustment.
+ References
No definition available.
+ Details

Name: idt_EquitySecuritiesFvNiAdjusted

Namespace Prefix: idt_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
Amount of investment in equity security measured at fair value with change in fair value recognized in net income (FV-NI).
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=99377092&loc=SL75136599-209740
+ Details

Name: us-gaap_EquitySecuritiesFvNi

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Amount of impairment loss on investment in equity security without readily determinable fair value.
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 321
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=116654751&loc=SL75117539-209714
+ Details

Name: us-gaap_EquitySecuritiesWithoutReadilyDeterminableFairValueImpairmentLossAnnualAmount

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ References
No definition available.
+ Details

Name: us-gaap_EquitySecuritiesWithoutReadilyDeterminableFairValueLineItems

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Amount of gain from upward price adjustment on investment in equity security without readily determinable fair value.
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 321
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=116654751&loc=SL75117539-209714
+ Details

Name: us-gaap_EquitySecuritiesWithoutReadilyDeterminableFairValueUpwardPriceAdjustmentAnnualAmount

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
Represents the quantification of the effect of adopting the new accounting standard or change in accounting principle expected by the entity to have a significant effect on the entity's financial statements.
+ References
No definition available.
+ Details

Name: us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfAdoptionQuantification

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Details

Name: us-gaap_FairValueByAssetClassAxis=us-gaap_EquityMethodInvestmentsMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

XML 62 R56.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Fair Value Measurements (Details 1) - Level 3 [Member] - USD ($)
$ in Thousands
3 Months Ended

Oct. 31, 2019

Oct. 31, 2018

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Balance, beginning of period $ 3,619

Transfer into Level 3 from adoption of change in accounting for equity investments 2,794

Total gains recognized in “Other income (expense), net” 18 22

Balance, end of period 3,637 2,816

Change in unrealized gains or losses for the period included in earnings for assets held at the end of the period $ 18 $ 22

X

- Definition
Amount of change in unrealized gains or losses included in earnings for assets held at end of period.
+ References
No definition available.
+ Details

Name: idt_AmountOfChangeInUnrealizedGainsOrLossesIncludedInEarningsForAssetsHeldAtEndOfPeriod

Namespace Prefix: idt_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
Amount of fair value measurement with unobservable inputs reconciliation recurring basis asset transfers into level three from adoption of accounting change.
+ References
No definition available.
+ Details

Name: idt_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevelThreeFromAdoptionOfAccountingChange

Namespace Prefix: idt_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ References
No definition available.
+ Details

Name: us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Amount of gain (loss) recognized in income from asset measured at fair value on recurring basis using unobservable input (level 3).
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258
+ Details

Name: us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
Fair value of financial instrument classified as an asset measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258
+ Details

Name: us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Details

Name: us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

XML 63 R37.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Revenue Recognition (Details) - USD ($)
$ in Thousands
3 Months Ended

Oct. 31, 2019

Oct. 31, 2018

Revenue from External Customer [Line Items]

Revenues, Total $ 340,245 $ 362,316

Total Telecom & Payment Services [Member]

Revenue from External Customer [Line Items]

Revenues, Total 327,618 351,849

Total Telecom & Payment Services [Member] | BOSS Revolution Calling [Member]

Revenue from External Customer [Line Items]

Revenues, Total 116,242 123,513

Total Telecom & Payment Services [Member] | Carrier Services [Member]

Revenue from External Customer [Line Items]

Revenues, Total 113,517 142,222

Total Telecom & Payment Services [Member] | Mobile Top-Up [Member]

Revenue from External Customer [Line Items]

Revenues, Total 76,815 65,346

Total Telecom & Payment Services [Member] | Other [Member]

Revenue from External Customer [Line Items]

Revenues, Total 11,244 14,757

Total Telecom & Payment Services [Member] | Growth [Member]

Revenue from External Customer [Line Items]

Revenues, Total 9,800 6,011

Total net2phone [Member]

Revenue from External Customer [Line Items]

Revenues, Total 12,627 10,467

Total net2phone [Member] | net2phone-UCaaS [Member]

Revenue from External Customer [Line Items]

Revenues, Total 7,221 4,805

Total net2phone [Member] | Net2phone-Platform Services [Member]

Revenue from External Customer [Line Items]

Revenues, Total $ 5,406 $ 5,662

X

- Definition
Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ References
No definition available.
+ Details

Name: us-gaap_EntityWideInformationRevenueFromExternalCustomerLineItems

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8933-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(1))
-URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227
+ Details

Name: us-gaap_Revenues

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Details

Name: us-gaap_StatementBusinessSegmentsAxis=idt_TelecomAndPaymentServiceMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: srt_ProductOrServiceAxis=idt_BossRevolutionCallingMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: srt_ProductOrServiceAxis=idt_WholesaleCarrierServicesMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: srt_ProductOrServiceAxis=idt_MobileTopUpMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: srt_ProductOrServiceAxis=idt_TotalTelecomAndPaymentServicesOtherMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: srt_ProductOrServiceAxis=idt_TotalTelecomAndPaymentServicesGrowthMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: us-gaap_StatementBusinessSegmentsAxis=idt_NetTwoPhoneUnifiedCommunicationsAsServiceSegmentMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: srt_ProductOrServiceAxis=idt_NetTwoPhoneUnifiedCommunicationsAsServiceMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: srt_ProductOrServiceAxis=idt_Net2PhonePlatformServicesMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

XML 64 R33.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Loss Per Share (Tables)
3 Months Ended

Oct. 31, 2019

Earnings Per Share [Abstract]

Schedule of shares excluded from the diluted earnings per share

Three Months Ended
October 31,

2019

2018

(in thousands)

Stock options 1,190 1,243

Non-vested restricted Class B common stock 616 49

Shares excluded from the calculation of diluted earnings per share 1,806 1,292

X

- References
No definition available.
+ Details

Name: us-gaap_EarningsPerShareAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257
+ Details

Name: us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 65 R10.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Leases
3 Months Ended

Oct. 31, 2019

Leases [Abstract]

Leases
Note 3—Leases

On August 1, 2019, the Company adopted Accounting Standards Update No. 2016-02, Leases (Topic 842), and the amendments thereto, related to the accounting for leases (collectively referred to as "ASC 842"). ASC 842 establishes a right-of-use ("ROU") model that requires a lessee to record a ROU asset and a lease liability on its balance sheet for all leases with terms longer than 12 months. Leases are classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. Entities have the option to continue to apply historical accounting under Topic 840, the previously applicable standard, including its disclosure requirements, in comparative periods presented in the year of adoption. An entity that elects this option will recognize a cumulative effect adjustment to the opening balance of retained earnings in the period of adoption instead of the earliest period presented.

The Company elected to apply the optional ASC 842 transition provisions beginning on August 1, 2019. Accordingly, the Company will continue to apply Topic 840 prior to August 1, 2019, including Topic 840 disclosure requirements, in the comparative periods presented. The Company elected the package of practical expedients for all its leases that commenced before August 1, 2019. In addition, the Company elected not to apply the recognition requirements of ASC 842 for its short-term leases.

The Company's leases primarily consist of operating leases for office space. These leases have remaining terms from one to six years. net2phone-UCaaS also has operating leases for office equipment. Certain of these leases include renewal options that may be exercised and/or options to terminate the lease. The Company has concluded that it is not reasonably certain that it would exercise the options to extend the lease or terminate the lease.

The adoption of ASC 842 resulted in the recognition of operating lease liabilities of $12.4 million and operating ROU assets of the same amount as of August 1, 2019 based on the present value of the remaining minimum rental payments associated with the Company's leases. As the Company's leases do not provide an implicit rate, nor is one readily available, the Company used its incremental borrowing rate based on information available at August 1, 2019 to determine the present value of its future minimum rental payments.

net2phone has equipment leases that were classified as capital leases under Topic 840 and are finance leases under ASC 842. net2phone is also the lessor in various equipment leases that were classified as sales-type capital leases under Topic 840, that are classified as sales-type finance leases under ASC 842. The assets and liabilities related to these finance leases are not material to the Company's consolidated balance sheets.

Supplemental disclosures related to the Company's operating leases were as follows:

Three Months Ended October 31,
2019

(in thousands)

Operating lease cost $ 711

Short-term lease cost 58

Total lease cost $ 769

Cash paid for amounts included in the measurement of lease liabilities:

Operating cash flows from operating leases $ 684

October 31,
2019

Weighted-average remaining lease term-operating leases 4.9 years

Weighted-average discount rate-operating leases 3.12 %

The Company's aggregate operating lease liability was as follows:

October 31,
2019

(in thousands)

Operating lease liabilities included in "Other current liabilities" $ 2,417

Operating lease liabilities included in noncurrent liabilities 9,335

Total $ 11,752

Future minimum maturities of operating lease liabilities were as follows:

Twelve-month period ending October 31,

(in thousands)

2020 $ 2,776

2021 2,637

2022 2,438

2023 1,996

2024 1,880

Thereafter 986

Total lease payments 12,713

Less imputed interest (961 )

Total operating lease liabilities $ 11,752

X

- References
No definition available.
+ Details

Name: us-gaap_LeasesAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability.
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-URI http://asc.fasb.org/subtopic&trid=77888251
+ Details

Name: us-gaap_LesseeOperatingLeasesTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 66 R14.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Fair Value Measurements
3 Months Ended

Oct. 31, 2019

Fair Value Disclosures [Abstract]

Fair Value Measurements
Note 7—Fair Value Measurements

The following tables present the balance of assets measured at fair value on a recurring basis:

Level 1 (1)

Level 2 (2)

Level 3 (3)

Total

(in thousands)

October 31, 2019

Debt securities $ — $ 9,894 $ — $ 9,894

Equity investments included in current assets 5,710 — — 5,710

Equity investments included in noncurrent assets — — 3,637 3,637

Total $ 5,710 $ 9,894 $ 3,637 $ 19,241

July 31, 2019

Debt securities $ — $ 2,534 $ — $ 2,534

Equity investments included in current assets 5,688 — — 5,688

Equity investments included in noncurrent assets — — 3,619 3,619

Total $ 5,688 $ 2,534 $ 3,619 $ 11,841

(1) – quoted prices in active markets for identical assets or liabilities

(2) – observable inputs other than quoted prices in active markets for identical assets and liabilities

(3) – no observable pricing inputs in the market

At October 31, 2019 and July 31, 2019, the Company had $5.5 million in investments in hedge funds, which were included in noncurrent "Equity investments" in the accompanying consolidated balance sheets. The Company's investments in hedge funds were accounted for using the equity method, therefore they were not measured at fair value.

At October 31, 2019 and July 31, 2019, the Company did not have any liabilities measured at fair value on a recurring basis.

The following table summarizes the change in the balance of the Company's assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3). There were no liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) in the three months ended October 31, 2019 and 2018.

Three Months Ended
October 31,

2019

2018

(in thousands)

Balance, beginning of period $ 3,619 $ —

Transfer into Level 3 from adoption of change in accounting for equity investments — 2,794

Total gains recognized in "Other income (expense), net" 18 22

Balance, end of period $ 3,637 $ 2,816

Change in unrealized gains or losses for the period included in earnings for assets held at the end of the period $ 18 $ 22

Fair Value of Other Financial Instruments

The estimated fair value of the Company's other financial instruments was determined using available market information or other appropriate valuation methodologies. However, considerable judgment is required in interpreting these data to develop estimates of fair value. Consequently, the estimates are not necessarily indicative of the amounts that could be realized or would be paid in a current market exchange.

Cash and cash equivalents, restricted cash and cash equivalents, other current assets, customer deposits, and other current liabilities. At October 31, 2019 and July 31, 2019, the carrying amount of these assets and liabilities approximated fair value because of the short period of time to maturity. The fair value estimates for cash, cash equivalents and restricted cash and cash equivalents were classified as Level 1 and other current assets, customer deposits, and other current liabilities were classified as Level 2 of the fair value hierarchy.

Other assets and other liabilities. At October 31, 2019 and July 31, 2019, the carrying amount of these assets and liabilities approximated fair value. The fair values were estimated based on the Company's assumptions, which were classified as Level 3 of the fair value hierarchy.

X

- References
No definition available.
+ Details

Name: us-gaap_FairValueDisclosuresAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258
+ Details

Name: us-gaap_FairValueDisclosuresTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 67 R18.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Loss Per Share
3 Months Ended

Oct. 31, 2019

Earnings Per Share [Abstract]

Loss Per Share
Note 11—Loss Per Share

Basic earnings per share is computed by dividing net income attributable to all classes of common stockholders of the Company by the weighted average number of shares of all classes of common stock outstanding during the applicable period. Diluted earnings per share is computed in the same manner as basic earnings per share, except that the number of shares is increased to include restricted stock still subject to risk of forfeiture and to assume exercise of potentially dilutive stock options using the treasury stock method, unless the effect of such increase is anti-dilutive.

The following shares were excluded from the diluted loss per share computations because their inclusion would have been anti-dilutive:

Three Months Ended
October 31,

2019

2018

(in thousands)

Stock options 1,190 1,243

Non-vested restricted Class B common stock 616 49

Shares excluded from the calculation of diluted earnings per share 1,806 1,292

The diluted loss per share equals basic loss per share in the three months ended October 31, 2019 and 2018 because the Company had a net loss and the impact of the assumed exercise of stock options and the vesting of restricted stock would have been anti-dilutive.

X

- References
No definition available.
+ Details

Name: us-gaap_EarningsPerShareAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
The entire disclosure for earnings per share.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI http://asc.fasb.org/topic&trid=2144383
+ Details

Name: us-gaap_EarningsPerShareTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 68 R70.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Other Income (Expense), Net (Details) - USD ($)
$ in Thousands
3 Months Ended

Oct. 31, 2019

Oct. 31, 2018

Other Income and Expenses [Abstract]

Foreign currency transaction gains (losses) $ 671 $ (1,205)

Gain (loss) on investments 26 (46)

Other (463) (98)

Total other income (expense), net $ 234 $ (1,349)

X

- Definition
Amount before tax of foreign currency transaction realized gain (loss) recognized in the income statement.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 20
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=109240200&loc=d3e30690-110894

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6450222&loc=d3e30840-110895

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 20
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=109240200&loc=d3e30700-110894
+ Details

Name: us-gaap_ForeignCurrencyTransactionGainLossRealized

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
Amount of realized and unrealized gain (loss) on investment.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 10
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27405-111563

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.7(c),9(a))
-URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227

Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585
+ Details

Name: us-gaap_GainLossOnInvestments

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business).
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.7)
-URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227
+ Details

Name: us-gaap_NonoperatingIncomeExpense

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- References
No definition available.
+ Details

Name: us-gaap_OtherIncomeAndExpensesAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Amount of income (expense) related to nonoperating activities, classified as other.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.9)
-URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227
+ Details

Name: us-gaap_OtherNonoperatingIncomeExpense

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

XML 69 R53.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Equity Investments (Details 2) - USD ($)
$ in Thousands
3 Months Ended

Oct. 31, 2019

Oct. 31, 2018

Equity Securities, FV-NI, Gain (Loss) [Abstract]

Net (losses) gains recognized during the period on equity investments $ 26 $ (46)

Less: net gains and losses recognized during the period on equity investments sold during the period

Unrealized gains (losses) recognized during the period on equity investments still held at the reporting date $ 26 $ (46)

X

- Definition
Amount of recognized gain (loss) net on equity securities (FV-NI).
+ References
No definition available.
+ Details

Name: idt_EquitySecuritiesFvNiRecognizedGainLossNet

Namespace Prefix: idt_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
Amount of recognized gain (loss) net on equity securities which has been sold (FV-NI).
+ References
No definition available.
+ Details

Name: idt_EquitySecuritiesFvNiRecognizedGainLossNetOnEquitySecuritiesSold

Namespace Prefix: idt_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
Amount of recognized unrealized gain (loss) net on equity securities held (FV-NI).
+ References
No definition available.
+ Details

Name: idt_EquitySecuritiesFvNiRecognizedUnrealizedGainLossNetEquitySecuritiesHeld

Namespace Prefix: idt_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- References
No definition available.
+ Details

Name: us-gaap_EquitySecuritiesFvNiGainLossAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 70 R57.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Fair Value Measurements (Details Textual) - USD ($)
$ in Thousands

Oct. 31, 2019

Jul. 31, 2019

Fair Value Measurements (Textual)

Fair value of investments in hedge funds $ 5,500 $ 5,500

X

- References
No definition available.
+ Details

Name: idt_FairValueMeasurementTextualAbstract

Namespace Prefix: idt_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Investment in hedge funds.
+ References
No definition available.
+ Details

Name: idt_InvestmentInHedgeFunds

Namespace Prefix: idt_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

XML 71 R36.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Other Income (Expense), Net (Tables)
3 Months Ended

Oct. 31, 2019

Other Income and Expenses [Abstract]

Schedule of other expense, net

Three Months Ended
October 31,

2019

2018

(in thousands)

Foreign currency transaction gains (losses) $ 671 $ (1,205 )

Gain (loss) on investments 26 (46 )

Other (463 ) (98 )

Total other income (expense), net $ 234 $ (1,349 )

X

- References
No definition available.
+ Details

Name: us-gaap_OtherIncomeAndExpensesAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Tabular disclosure of the components of non-operating income or non-operating expense that may include amounts earned from dividends, interest on securities, gains (losses) on securities sold, equity earnings of unconsolidated affiliates, net gain (loss) on sales of business, interest expense and other miscellaneous income or expense items.
+ References
No definition available.
+ Details

Name: us-gaap_ScheduleOfOtherNonoperatingIncomeExpenseTableTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 72 R32.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Other Operating Expense, Net (Tables)
3 Months Ended

Oct. 31, 2019

Other Operating Expense [Abstract]

Schedule of other operating gains (expense)

Three Months Ended
October 31,

2019

2018

(in thousands)

Corporate—Straight Path Communications Inc. class action legal fees $ 260 $ 195

net2phone—indemnification claim 365 —

Telecom & Payment Services—accrual for non-income related taxes related to a foreign subsidiary 2,150 1,100

Total other operating expense, net $ 2,775 $ 1,295

Schedule of correction on the Company's previously issued consolidated financial statements

Three Months Ended October 31, 2018

Previously Reported

Error Correction

As Adjusted

(in thousands, except per share data)

Consolidated Statement of Operations:

Other operating expense $ (195 ) $ (1,100 ) $ (1,295 )

Provision for income taxes $ (1,189 ) $ 250 $ (939 )

Net loss $ (1,148 ) $ (850 ) $ (1,998 )

Net loss attributable to IDT Corporation $ (1,449 ) $ (850 ) $ (2,299 )

Loss per share attributable to IDT Corporation common stockholders:

Basic $ (0.06 ) $ (0.04 ) $ (0.10 )

Diluted $ (0.06 ) $ (0.04 ) $ (0.10 )

X

- References
No definition available.
+ Details

Name: idt_OtherOperatingExpensesGainsNetAbstract

Namespace Prefix: idt_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Tabular disclosure of other operating (expenses) gains, net.
+ References
No definition available.
+ Details

Name: idt_ScheduleOfOtherOperatingExpensesGainsNetTableTextBlock

Namespace Prefix: idt_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Definition
Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22663-107794

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22644-107794

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22658-107794
+ Details

Name: us-gaap_ScheduleOfErrorCorrectionsAndPriorPeriodAdjustmentsTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 73 R19.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Revolving Credit Loan Payable
3 Months Ended

Oct. 31, 2019

Revolving Credit Facility [Abstract]

Revolving Credit Loan Payable
Note 12—Revolving Credit Loan Payable

As of October 31, 2019, the Company's subsidiary, IDT Telecom, Inc., entered into a credit agreement with TD Bank, N.A. for a line of credit facility for up to a maximum principal amount of $25.0 million. IDT Telecom may use the proceeds to finance working capital requirements, acquisitions and other general corporate purposes. The line of credit facility is secured by primarily all of IDT Telecom's assets. The principal outstanding bears interest per annum at the LIBOR rate adjusted by the Regulation D maximum reserve requirement plus 125 basis points. Interest is payable monthly, and all outstanding principal and any accrued and unpaid interest is due on the maturity date of July 15, 2020. IDT Telecom pays a quarterly unused commitment fee of 0.3% per annum on the average daily balance of the unused portion of the $25.0 million commitment. IDT Telecom is required to comply with various affirmative and negative covenants as well as maintain certain financial targets and ratios during the term of the facility, including IDT Telecom may not pay any dividend on its capital stock.

X

- References
No definition available.
+ Details

Name: idt_RevolvingCreditLoanPayableAbstract

Namespace Prefix: idt_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
The entire disclosure for long-term debt.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI http://asc.fasb.org/topic&trid=2208564
+ Details

Name: us-gaap_LongTermDebtTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 74 R11.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents
3 Months Ended

Oct. 31, 2019

Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]

Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents
Note 4—Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents

The following table provides a reconciliation of cash, cash equivalents, and restricted cash and cash equivalents reported in the consolidated balance sheet that equals the total of the same amounts reported in the consolidated statement of cash flows:

October 31,
2019

July 31,
2019

(in thousands)

Cash and cash equivalents $ 62,183 $ 80,168

Restricted cash and cash equivalents 190,218 177,031

Total cash, cash equivalents, and restricted cash and cash equivalents $ 252,401 $ 257,199

At October 31, 2019 and July 31, 2019, restricted cash and cash equivalents included $190.1 million and $176.8 million, respectively, in restricted cash and cash equivalents held by IDT Financial Services Limited, the Company's Gibraltar-based bank.

X

- Definition
The entire disclosure for cash and cash equivalent footnotes, which may include the types of deposits and money market instruments, applicable carrying amounts, restricted amounts and compensating balance arrangements. Cash and equivalents include: (1) currency on hand (2) demand deposits with banks or financial institutions (3) other kinds of accounts that have the general characteristics of demand deposits (4) short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments maturing within three months from the date of acquisition qualify.
+ References
Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(1))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details

Name: us-gaap_CashAndCashEquivalentsDisclosureTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- References
No definition available.
+ Details

Name: us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 75 R15.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Acquisition of Versature Corp.
3 Months Ended

Oct. 31, 2019

Business Combinations [Abstract]

Acquisition of Versature Corp.
Note 8—Acquisition of Versature Corp.

On September 14, 2018, the Company acquired 100% of the outstanding shares of Versature Corp., a UCaaS provider serving the Canadian market, for cash of $5.9 million. Versature's operating results from the date of acquisition, which were not significant, are included in the Company's consolidated financial statements.

The following table presents unaudited pro forma information of the Company as if the acquisition occurred on August 1, 2018:

Three Months Ended

October 31,

2019 2018

(in thousands)

Revenues $ 340,245 $ 363,200

Net loss $ (1,422 ) $ (2,206 )

X

- Definition
The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-URI http://asc.fasb.org/topic&trid=2303972
+ Details

Name: us-gaap_BusinessCombinationDisclosureTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- References
No definition available.
+ Details

Name: us-gaap_BusinessCombinationsAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 76 R23.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Other Income (Expense), Net
3 Months Ended

Oct. 31, 2019

Other Income and Expenses [Abstract]

Other Income (Expense), Net
Note 16—Other Income (Expense), Net

Other income (expense), net consists of the following:

Three Months Ended
October 31,

2019

2018

(in thousands)

Foreign currency transaction gains (losses) $ 671 $ (1,205 )

Gain (loss) on investments 26 (46 )

Other (463 ) (98 )

Total other income (expense), net $ 234 $ (1,349 )

X

- References
No definition available.
+ Details

Name: us-gaap_OtherIncomeAndExpensesAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
The entire disclosure for other income or other expense items (both operating and nonoperating). Sources of nonoperating income or nonoperating expense that may be disclosed, include amounts earned from dividends, interest on securities, profits (losses) on securities, net and miscellaneous other income or income deductions.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 720
-URI http://asc.fasb.org/topic&trid=2122503

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 610
-URI http://asc.fasb.org/topic&trid=49130413
+ Details

Name: us-gaap_OtherIncomeAndOtherExpenseDisclosureTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 77 R27.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents (Tables)
3 Months Ended

Oct. 31, 2019

Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]

Schedule of cash, cash equivalents, and restricted cash and cash equivalents

October 31,
2019

July 31,
2019

(in thousands)

Cash and cash equivalents $ 62,183 $ 80,168

Restricted cash and cash equivalents 190,218 177,031

Total cash, cash equivalents, and restricted cash and cash equivalents $ 252,401 $ 257,199

X

- References
No definition available.
+ Details

Name: us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Tabular disclosure of cash and cash equivalents restricted as to withdrawal or usage.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(1)(a))
-URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=98513485&loc=SL98516268-108586

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(2))
-URI http://asc.fasb.org/extlink&oid=119400593&loc=d3e572229-122910

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(1))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details

Name: us-gaap_ScheduleOfRestrictedCashAndCashEquivalentsTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 78 FilingSummary.xml IDEA: XBRL DOCUMENT 3.19.3.a.u2 html 175 323 1 true 54 0 false 5 false false R1.htm 00000001 - Document - Document and Entity Information Sheet http://idt.net/role/DocumentAndEntityInformation Document and Entity Information Cover 1 false false R2.htm 00000002 - Statement - Consolidated Balance Sheets Sheet http://idt.net/role/BalanceSheets Consolidated Balance Sheets Statements 2 false false R3.htm 00000003 - Statement - Consolidated Balance Sheets (Parenthetical) Sheet http://idt.net/role/BalanceSheetsParenthetical Consolidated Balance Sheets (Parenthetical) Statements 3 false false R4.htm 00000004 - Statement - Consolidated Statements of Operations (Unaudited) Sheet http://idt.net/role/StatementsOfOperations Consolidated Statements of Operations (Unaudited) Statements 4 false false R5.htm 00000005 - Statement - Consolidated Statements of Comprehensive Loss (Unaudited) Sheet http://idt.net/role/StatementsOfComprehensiveLoss Consolidated Statements of Comprehensive Loss (Unaudited) Statements 5 false false R6.htm 00000006 - Statement - Consolidated Statements of Equity (Unaudited) Sheet http://idt.net/role/StatementsOfEquity Consolidated Statements of Equity (Unaudited) Statements 6 false false R7.htm 00000007 - Statement - Consolidated Statements of Cash Flows (Unaudited) Sheet http://idt.net/role/StatementsOfCashFlows Consolidated Statements of Cash Flows (Unaudited) Statements 7 false false R8.htm 00000008 - Disclosure - Basis of Presentation Sheet http://idt.net/role/BasisOfPresentation Basis of Presentation Notes 8 false false R9.htm 00000009 - Disclosure - Revenue Recognition Sheet http://idt.net/role/RevenueRecognition Revenue Recognition Notes 9 false false R10.htm 00000010 - Disclosure - Leases Sheet http://idt.net/role/Leases Leases Notes 10 false false R11.htm 00000011 - Disclosure - Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents Sheet http://idt.net/role/CashCashEquivalentsAndRestrictedCashAndCashEquivalents Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents Notes 11 false false R12.htm 00000012 - Disclosure - Debt Securities Sheet http://idt.net/role/DebtSecurities Debt Securities Notes 12 false false R13.htm 00000013 - Disclosure - Equity Investments Sheet http://idt.net/role/EquityInvestments Equity Investments Notes 13 false false R14.htm 00000014 - Disclosure - Fair Value Measurements Sheet http://idt.net/role/FairValueMeasurements Fair Value Measurements Notes 14 false false R15.htm 00000015 - Disclosure - Acquisition of Versature Corp. Sheet http://idt.net/role/AcquisitionOfVersatureCorp. Acquisition of Versature Corp. Notes 15 false false R16.htm 00000016 - Disclosure - Other Operating Expense, Net Sheet http://idt.net/role/OtherOperatingExpenseNet Other Operating Expense, Net Notes 16 false false R17.htm 00000017 - Disclosure - Equity Sheet http://idt.net/role/Equity Equity Notes 17 false false R18.htm 00000018 - Disclosure - Loss Per Share Sheet http://idt.net/role/EarningsLossPerShare Loss Per Share Notes 18 false false R19.htm 00000019 - Disclosure - Revolving Credit Loan Payable Sheet http://idt.net/role/RevolvingCreditFacility Revolving Credit Loan Payable Notes 19 false false R20.htm 00000020 - Disclosure - Accumulated Other Comprehensive Loss Sheet http://idt.net/role/AccumulatedOtherComprehensiveLoss Accumulated Other Comprehensive Loss Notes 20 false false R21.htm 00000021 - Disclosure - Business Segment Information Sheet http://idt.net/role/BusinessSegmentInformation Business Segment Information Notes 21 false false R22.htm 00000022 - Disclosure - Commitments and Contingencies Sheet http://idt.net/role/CommitmentsAndContingencies Commitments and Contingencies Notes 22 false false R23.htm 00000023 - Disclosure - Other Income (Expense), Net Sheet http://idt.net/role/OtherExpenseIncomeNet Other Income (Expense), Net Notes 23 false false R24.htm 00000024 - Disclosure - Recently Issued Accounting Standard Not Yet Adopted Sheet http://idt.net/role/RecentlyIssuedAccountingStandardNotYetAdopted Recently Issued Accounting Standard Not Yet Adopted Notes 24 false false R25.htm 00000025 - Disclosure - Revenue Recognition (Tables) Sheet http://idt.net/role/RevenueRecognitionTables Revenue Recognition (Tables) Tables http://idt.net/role/RevenueRecognition 25 false false R26.htm 00000026 - Disclosure - Leases (Tables) Sheet http://idt.net/role/LeasesTables Leases (Tables) Tables http://idt.net/role/Leases 26 false false R27.htm 00000027 - Disclosure - Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents (Tables) Sheet http://idt.net/role/CashCashEquivalentsAndRestrictedCashAndCashEquivalentsTables Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents (Tables) Tables http://idt.net/role/CashCashEquivalentsAndRestrictedCashAndCashEquivalents 27 false false R28.htm 00000028 - Disclosure - Debt Securities (Tables) Sheet http://idt.net/role/DebtSecuritiesTables Debt Securities (Tables) Tables http://idt.net/role/DebtSecurities 28 false false R29.htm 00000029 - Disclosure - Equity Investments (Tables) Sheet http://idt.net/role/EquityInvestmentsTables Equity Investments (Tables) Tables http://idt.net/role/EquityInvestments 29 false false R30.htm 00000030 - Disclosure - Fair Value Measurements (Tables) Sheet http://idt.net/role/FairValueMeasurementsTables Fair Value Measurements (Tables) Tables http://idt.net/role/FairValueMeasurements 30 false false R31.htm 00000031 - Disclosure - Acquisition of Versature Corp. (Tables) Sheet http://idt.net/role/AcquisitionOfVersatureCorp.Tables Acquisition of Versature Corp. (Tables) Tables http://idt.net/role/AcquisitionOfVersatureCorp. 31 false false R32.htm 00000032 - Disclosure - Other Operating Expense, Net (Tables) Sheet http://idt.net/role/OtherOperatingLossesGainsNetTables Other Operating Expense, Net (Tables) Tables http://idt.net/role/OtherOperatingExpenseNet 32 false false R33.htm 00000033 - Disclosure - Loss Per Share (Tables) Sheet http://idt.net/role/LossPerShareTables Loss Per Share (Tables) Tables http://idt.net/role/EarningsLossPerShare 33 false false R34.htm 00000034 - Disclosure - Accumulated Other Comprehensive Loss (Tables) Sheet http://idt.net/role/AccumulatedOtherComprehensiveLossTables Accumulated Other Comprehensive Loss (Tables) Tables http://idt.net/role/AccumulatedOtherComprehensiveLoss 34 false false R35.htm 00000035 - Disclosure - Business Segment Information (Tables) Sheet http://idt.net/role/BusinessSegmentInformationTables Business Segment Information (Tables) Tables http://idt.net/role/BusinessSegmentInformation 35 false false R36.htm 00000036 - Disclosure - Other Income (Expense), Net (Tables) Sheet http://idt.net/role/OtherExpenseIncomeNetTables Other Income (Expense), Net (Tables) Tables http://idt.net/role/OtherExpenseIncomeNet 36 false false R37.htm 00000037 - Disclosure - Revenue Recognition (Details) Sheet http://idt.net/role/RevenueRecognitionDetails Revenue Recognition (Details) Details http://idt.net/role/RevenueRecognitionTables 37 false false R38.htm 00000038 - Disclosure - Revenue Recognition (Details 1) Sheet http://idt.net/role/RevenueRecognitionDetails1 Revenue Recognition (Details 1) Details http://idt.net/role/RevenueRecognitionTables 38 false false R39.htm 00000039 - Disclosure - Revenue Recognition (Details 2) Sheet http://idt.net/role/RevenueRecognitionDetails2 Revenue Recognition (Details 2) Details http://idt.net/role/RevenueRecognitionTables 39 false false R40.htm 00000040 - Disclosure - Revenue Recognition (Details 3) Sheet http://idt.net/role/RevenueRecognitionDetails3 Revenue Recognition (Details 3) Details http://idt.net/role/RevenueRecognitionTables 40 false false R41.htm 00000041 - Disclosure - Revenue Recognition (Details 4) Sheet http://idt.net/role/RevenueRecognitionDetails4 Revenue Recognition (Details 4) Details http://idt.net/role/RevenueRecognitionTables 41 false false R42.htm 00000042 - Disclosure - Leases (Details) Sheet http://idt.net/role/LeasesDetails Leases (Details) Details http://idt.net/role/LeasesTables 42 false false R43.htm 00000043 - Disclosure - Leases (Details 1) Sheet http://idt.net/role/LeasesDetails1 Leases (Details 1) Details http://idt.net/role/LeasesTables 43 false false R44.htm 00000044 - Disclosure - Leases (Details 2) Sheet http://idt.net/role/LeasesDetails2 Leases (Details 2) Details http://idt.net/role/LeasesTables 44 false false R45.htm 00000045 - Disclosure - Leases (Details Textual) Sheet http://idt.net/role/LeasesDetailsTextual Leases (Details Textual) Details http://idt.net/role/LeasesTables 45 false false R46.htm 00000046 - Disclosure - Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents (Details) Sheet http://idt.net/role/CashCashEquivalentsAndRestrictedCashAndCashEquivalentsDetails Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents (Details) Details http://idt.net/role/CashCashEquivalentsAndRestrictedCashAndCashEquivalentsTables 46 false false R47.htm 00000047 - Disclosure - Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents (Details Textual) Sheet http://idt.net/role/CashCashEquivalentsAndRestrictedCashAndCashEquivalentsDetailsTextual Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents (Details Textual) Details http://idt.net/role/CashCashEquivalentsAndRestrictedCashAndCashEquivalentsTables 47 false false R48.htm 00000048 - Disclosure - Debt Securities (Details) Sheet http://idt.net/role/DebtSecuritiesDetails Debt Securities (Details) Details http://idt.net/role/DebtSecuritiesTables 48 false false R49.htm 00000049 - Disclosure - Debt Securities (Details 1) Sheet http://idt.net/role/DebtSecuritiesDetails1 Debt Securities (Details 1) Details http://idt.net/role/DebtSecuritiesTables 49 false false R50.htm 00000050 - Disclosure - Debt Securities (Details Textual) Sheet http://idt.net/role/DebtSecuritiesDetailsTextual Debt Securities (Details Textual) Details http://idt.net/role/DebtSecuritiesTables 50 false false R51.htm 00000051 - Disclosure - Equity Investments (Details) Sheet http://idt.net/role/EquityInvestmentsDetails Equity Investments (Details) Details http://idt.net/role/EquityInvestmentsTables 51 false false R52.htm 00000052 - Disclosure - Equity Investments (Details 1) Sheet http://idt.net/role/EquityInvestmentsDetails1 Equity Investments (Details 1) Details http://idt.net/role/EquityInvestmentsTables 52 false false R53.htm 00000053 - Disclosure - Equity Investments (Details 2) Sheet http://idt.net/role/EquityInvestmentsDetails2 Equity Investments (Details 2) Details http://idt.net/role/EquityInvestmentsTables 53 false false R54.htm 00000054 - Disclosure - Equity Investments (Details Textual) Sheet http://idt.net/role/EquityInvestmentsDetailsTextual Equity Investments (Details Textual) Details http://idt.net/role/EquityInvestmentsTables 54 false false R55.htm 00000055 - Disclosure - Fair Value Measurements (Details) Sheet http://idt.net/role/FairValueMeasurementsDetails Fair Value Measurements (Details) Details http://idt.net/role/FairValueMeasurementsTables 55 false false R56.htm 00000056 - Disclosure - Fair Value Measurements (Details 1) Sheet http://idt.net/role/FairValueMeasurementsDetails1 Fair Value Measurements (Details 1) Details http://idt.net/role/FairValueMeasurementsTables 56 false false R57.htm 00000057 - Disclosure - Fair Value Measurements (Details Textual) Sheet http://idt.net/role/FairValueMeasurementsDetailsTextual Fair Value Measurements (Details Textual) Details http://idt.net/role/FairValueMeasurementsTables 57 false false R58.htm 00000058 - Disclosure - Acquisition of Versature Corp. (Details) Sheet http://idt.net/role/AcquisitionOfVersatureCorp.Details Acquisition of Versature Corp. (Details) Details http://idt.net/role/AcquisitionOfVersatureCorp.Tables 58 false false R59.htm 00000059 - Disclosure - Acquisition of Versature Corp. (Details Textual) Sheet http://idt.net/role/AcquisitionOfVersatureCorp.DetailsTextual Acquisition of Versature Corp. (Details Textual) Details http://idt.net/role/AcquisitionOfVersatureCorp.Tables 59 false false R60.htm 00000060 - Disclosure - Other Operating Expense, Net (Details) Sheet http://idt.net/role/OtherOperatingExpenseNetDetails Other Operating Expense, Net (Details) Details http://idt.net/role/OtherOperatingLossesGainsNetTables 60 false false R61.htm 00000061 - Disclosure - Other Operating Expense, Net (Details 1) Sheet http://idt.net/role/OtherOperatingExpenseNetDetails1 Other Operating Expense, Net (Details 1) Details http://idt.net/role/OtherOperatingLossesGainsNetTables 61 false false R62.htm 00000062 - Disclosure - Other Operating Expense, Net (Details Textual) Sheet http://idt.net/role/OtherOperatingExpenseNetDetailsTextual Other Operating Expense, Net (Details Textual) Details http://idt.net/role/OtherOperatingLossesGainsNetTables 62 false false R63.htm 00000063 - Disclosure - Equity (Details) Sheet http://idt.net/role/EquityDetails Equity (Details) Details http://idt.net/role/EquityInvestmentsTables 63 false false R64.htm 00000064 - Disclosure - Loss Per Share (Details) Sheet http://idt.net/role/LossPerShareDetails Loss Per Share (Details) Details http://idt.net/role/LossPerShareTables 64 false false R65.htm 00000065 - Disclosure - Revolving Credit Loan Payable (Details) Sheet http://idt.net/role/RevolvingCreditLoanPayableDetails Revolving Credit Loan Payable (Details) Details http://idt.net/role/RevolvingCreditFacility 65 false false R66.htm 00000066 - Disclosure - Accumulated Other Comprehensive Loss (Details) Sheet http://idt.net/role/AccumulatedOtherComprehensiveLossDetails Accumulated Other Comprehensive Loss (Details) Details http://idt.net/role/AccumulatedOtherComprehensiveLossTables 66 false false R67.htm 00000067 - Disclosure - Business Segment Information (Details) Sheet http://idt.net/role/BusinessSegmentInformationDetails Business Segment Information (Details) Details http://idt.net/role/BusinessSegmentInformationTables 67 false false R68.htm 00000068 - Disclosure - Business Segment Information (Details Textual) Sheet http://idt.net/role/BusinessSegmentInformationDetailsTextual Business Segment Information (Details Textual) Details http://idt.net/role/BusinessSegmentInformationTables 68 false false R69.htm 00000069 - Disclosure - Commitments and Contingencies (Details) Sheet http://idt.net/role/CommitmentsAndContingenciesDetailsTextual Commitments and Contingencies (Details) Details http://idt.net/role/CommitmentsAndContingencies 69 false false R70.htm 00000070 - Disclosure - Other Income (Expense), Net (Details) Sheet http://idt.net/role/OtherExpenseIncomeNetDetails Other Income (Expense), Net (Details) Details http://idt.net/role/OtherExpenseIncomeNetTables 70 false false All Reports Book All Reports idt-20191031.xml idt-20191031.xsd idt-20191031_cal.xml idt-20191031_def.xml idt-20191031_lab.xml idt-20191031_pre.xml http://xbrl.sec.gov/country/2017-01-31 http://fasb.org/srt/2019-01-31 http://fasb.org/us-gaap/2019-01-31 http://xbrl.sec.gov/dei/2019-01-31 true true XML 79 R1.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Document and Entity Information - shares
3 Months Ended

Oct. 31, 2019

Dec. 06, 2019

Entity Registrant Name IDT CORP

Entity Central Index Key 0001005731

Amendment Flag false

Current Fiscal Year End Date --07-31

Document Type 10-Q

Document Period End Date Oct. 31, 2019

Document Fiscal Period Focus Q1

Document Fiscal Year Focus 2020

Entity Current Reporting Status Yes

Entity Filer Category Accelerated Filer

Entity Small Business true

Entity Shell Company false

Entity Emerging Growth Company false

Entity Ex Transition Period false

Entity File Number 1-16371

Entity Interactive Data Current Yes

Entity Incorporation State Country Code DE

Class A common stock

Entity Common Stock Shares Outstanding 1,574,326

Class B common stock

Entity Common Stock Shares Outstanding 24,927,890

X

- Definition
Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.
+ References
No definition available.
+ Details

Name: dei_AmendmentFlag

Namespace Prefix: dei_

Data Type: xbrli:booleanItemType

Balance Type: na

Period Type: duration

X

- Definition
End date of current fiscal year in the format --MM-DD.
+ References
No definition available.
+ Details

Name: dei_CurrentFiscalYearEndDate

Namespace Prefix: dei_

Data Type: xbrli:gMonthDayItemType

Balance Type: na

Period Type: duration

X

- Definition
Fiscal period values are FY, Q1, Q2, and Q3. 1st, 2nd and 3rd quarter 10-Q or 10-QT statements have value Q1, Q2, and Q3 respectively, with 10-K, 10-KT or other fiscal year statements having FY.
+ References
No definition available.
+ Details

Name: dei_DocumentFiscalPeriodFocus

Namespace Prefix: dei_

Data Type: dei:fiscalPeriodItemType

Balance Type: na

Period Type: duration

X

- Definition
This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.
+ References
No definition available.
+ Details

Name: dei_DocumentFiscalYearFocus

Namespace Prefix: dei_

Data Type: xbrli:gYearItemType

Balance Type: na

Period Type: duration

X

- Definition
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.
+ References
No definition available.
+ Details

Name: dei_DocumentPeriodEndDate

Namespace Prefix: dei_

Data Type: xbrli:dateItemType

Balance Type: na

Period Type: duration

X

- Definition
The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.
+ References
No definition available.
+ Details

Name: dei_DocumentType

Namespace Prefix: dei_

Data Type: dei:submissionTypeItemType

Balance Type: na

Period Type: duration

X

- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation 12B
-Number 240
-Section 12
-Subsection b-2
+ Details

Name: dei_EntityCentralIndexKey

Namespace Prefix: dei_

Data Type: dei:centralIndexKeyItemType

Balance Type: na

Period Type: duration

X

- Definition
Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.
+ References
No definition available.
+ Details

Name: dei_EntityCommonStockSharesOutstanding

Namespace Prefix: dei_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

X

- Definition
Indicate 'Yes' or 'No' whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.
+ References
No definition available.
+ Details

Name: dei_EntityCurrentReportingStatus

Namespace Prefix: dei_

Data Type: dei:yesNoItemType

Balance Type: na

Period Type: duration

X

- Definition
Indicate if registrant meets the emerging growth company criteria.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation 12B
-Number 240
-Section 12
-Subsection b-2
+ Details

Name: dei_EntityEmergingGrowthCompany

Namespace Prefix: dei_

Data Type: xbrli:booleanItemType

Balance Type: na

Period Type: duration

X

- Definition
Indicate if an emerging growth company has elected not to use the extended transition period for complying with any new or revised financial accounting standards.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Securities Act
-Number 7A
-Section B
-Subsection 2
+ Details

Name: dei_EntityExTransitionPeriod

Namespace Prefix: dei_

Data Type: xbrli:booleanItemType

Balance Type: na

Period Type: duration

X

- Definition
Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
+ References
No definition available.
+ Details

Name: dei_EntityFileNumber

Namespace Prefix: dei_

Data Type: dei:fileNumberItemType

Balance Type: na

Period Type: duration

X

- Definition
Indicate whether the registrant is one of the following: Large Accelerated Filer, Accelerated Filer, Non-accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation 12B
-Number 240
-Section 12
-Subsection b-2
+ Details

Name: dei_EntityFilerCategory

Namespace Prefix: dei_

Data Type: dei:filerCategoryItemType

Balance Type: na

Period Type: duration

X

- Definition
Two-character EDGAR code representing the state or country of incorporation.
+ References
No definition available.
+ Details

Name: dei_EntityIncorporationStateCountryCode

Namespace Prefix: dei_

Data Type: dei:edgarStateCountryItemType

Balance Type: na

Period Type: duration

X

- Definition
Boolean flag that is true when the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-T
-Number 232
-Section 405
+ Details

Name: dei_EntityInteractiveDataCurrent

Namespace Prefix: dei_

Data Type: dei:yesNoItemType

Balance Type: na

Period Type: duration

X

- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation 12B
-Number 240
-Section 12
-Subsection b-2
+ Details

Name: dei_EntityRegistrantName

Namespace Prefix: dei_

Data Type: xbrli:normalizedStringItemType

Balance Type: na

Period Type: duration

X

- Definition
Boolean flag that is true when the registrant is a shell company as defined in Rule 12b-2 of the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation 12B
-Number 240
-Section 12
-Subsection b-2
+ Details

Name: dei_EntityShellCompany

Namespace Prefix: dei_

Data Type: xbrli:booleanItemType

Balance Type: na

Period Type: duration

X

- Definition
Indicates that the company is a Smaller Reporting Company (SRC).
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation 12B
-Number 240
-Section 12
-Subsection b-2
+ Details

Name: dei_EntitySmallBusiness

Namespace Prefix: dei_

Data Type: xbrli:booleanItemType

Balance Type: na

Period Type: duration

X

- Details

Name: us-gaap_StatementClassOfStockAxis=us-gaap_CommonClassAMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: us-gaap_StatementClassOfStockAxis=us-gaap_CommonClassBMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

XML 80 R69.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Commitments and Contingencies (Details) - USD ($)
$ in Thousands

Oct. 31, 2019

Jul. 31, 2019

Aug. 31, 2017

Commitments and Contingencies (Textual)

Accrued expenses $ 42,100 $ 44,700

Purchase commitment 30,700

Aggregate commitment 26,500

Performance bonds outstanding 17,500

Restricted cash and cash equivalents $ 9,800 $ 13,200

Telecom Operator [Member]

Commitments and Contingencies (Textual)

Escrow deposit $ 9,200

X

- Definition
Amount of cash and cash equivalents substantially restricted.
+ References
No definition available.
+ Details

Name: idt_CashAndCashEquivalentsSubstantiallyRestricted

Namespace Prefix: idt_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Commitments and contingencies.
+ References
No definition available.
+ Details

Name: idt_CommitmentsAndContingenciesTextualAbstract

Namespace Prefix: idt_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
In certain circumstances, the company is required to provide performance bonds in connection with its contractual commitments. Company has indemnified the surety for any expenses paid out under these performance bonds.
+ References
No definition available.
+ Details

Name: idt_PerformanceBondsOutstanding

Namespace Prefix: idt_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.15(5))
-URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03.15(a))
-URI http://asc.fasb.org/extlink&oid=119400593&loc=d3e572229-122910
+ Details

Name: us-gaap_AccruedLiabilitiesCurrentAndNoncurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
The designation of funds furnished by a borrower to a lender to assure future payments of the borrower's real estate taxes and insurance obligations with respect to a mortgaged property. Escrow deposits may be made for a variety of other purposes such as earnest money and contingent payments. This element excludes replacement reserves which are an escrow separately provided for within the US GAAP taxonomy.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.10)
-URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878
+ Details

Name: us-gaap_EscrowDeposit

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Minimum amount of other commitment not otherwise specified in the taxonomy. Excludes commitments explicitly modeled in the taxonomy, including but not limited to, long-term and short-term purchase commitments, recorded and unrecorded purchase obligations, supply commitments, registration payment arrangements, leases, debt, product warranties, guarantees, environmental remediation obligations, and pensions.
+ References
No definition available.
+ Details

Name: us-gaap_OtherCommitment

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Minimum amount of purchase arrangement in which the entity has agreed to expend funds to procure goods or services from a supplier.
+ References
No definition available.
+ Details

Name: us-gaap_PurchaseObligation

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Details

Name: dei_LegalEntityAxis=idt_TelecomOperatorMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

XML 81 R5.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($)
$ in Thousands
3 Months Ended

Oct. 31, 2019

Oct. 31, 2018

Statement of Comprehensive Income [Abstract]

Net loss $ (1,422) $ (1,998)

Other comprehensive (loss) income:

Change in unrealized gain on available-for-sale securities (2)

Foreign currency translation adjustments (1,204) 524

Other comprehensive (loss) income (1,204) 522

Comprehensive loss (2,626) (1,476)

Comprehensive income attributable to noncontrolling interests (91) (301)

Comprehensive loss attributable to IDT Corporation $ (2,717) $ (1,777)

X

- Definition
Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=118930883&loc=d3e557-108580

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669625-108580

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669619-108580
+ Details

Name: us-gaap_ComprehensiveIncomeNetOfTax

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669625-108580

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4K
-URI http://asc.fasb.org/extlink&oid=116874947&loc=SL4591552-111686

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669619-108580

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=108774443&loc=SL4613674-111683

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 20
-URI http://asc.fasb.org/extlink&oid=108774443&loc=SL4569643-111683
+ Details

Name: us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4K
-URI http://asc.fasb.org/extlink&oid=116874947&loc=SL4591552-111686

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669619-108580

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=108774443&loc=SL4569616-111683

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669625-108580
+ Details

Name: us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
Amount after tax, before reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 18
-URI http://asc.fasb.org/extlink&oid=118261656&loc=d3e32157-110900

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 20
-URI http://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=118261656&loc=d3e32022-110900

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 10A
-Subparagraph (a-c)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669646-108580

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=118930883&loc=d3e637-108580
+ Details

Name: us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
Amount after tax and reclassification adjustments of other comprehensive income (loss).
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669619-108580

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21463-112644

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 55
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=118951672&loc=d3e1436-108581

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669625-108580
+ Details

Name: us-gaap_OtherComprehensiveIncomeLossNetOfTax

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- References
No definition available.
+ Details

Name: us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Amount after tax, before reclassification adjustments, of unrealized holding gain (loss) on available-for-sale securities.
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 10A
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669646-108580

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=118930883&loc=d3e637-108580
+ Details

Name: us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669619-108580

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (a)(1)
-URI http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669625-108580

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4J
-URI http://asc.fasb.org/extlink&oid=116874947&loc=SL4591551-111686

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3000-108585

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=108774443&loc=SL4569616-111683

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4K
-URI http://asc.fasb.org/extlink&oid=116874947&loc=SL4591552-111686
+ Details

Name: us-gaap_ProfitLoss

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- References
No definition available.
+ Details

Name: us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 82 R61.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Other Operating Expense, Net (Details 1) - USD ($)
$ / shares in Units, $ in Thousands
3 Months Ended

Oct. 31, 2019

Oct. 31, 2018

Error Corrections and Prior Period Adjustments Restatement [Line Items]

Other operating expense $ (2,775) $ (1,295)

Provision for income taxes 536 939

Net loss (1,422) (1,998)

Net loss attributable to IDT Corporation $ (1,513) (2,299)

Error Correction [Member]

Error Corrections and Prior Period Adjustments Restatement [Line Items]

Other operating expense (1,100)

Provision for income taxes 250

Net loss (850)

Net loss attributable to IDT Corporation $ (850)

Loss per share attributable to IDT Corporation common stockholders:

Basic $ (0.04)

Diluted $ (0.04)

Previously Reported [Member]

Error Corrections and Prior Period Adjustments Restatement [Line Items]

Other operating expense $ (195)

Provision for income taxes (1,189)

Net loss (1,148)

Net loss attributable to IDT Corporation $ (1,449)

Loss per share attributable to IDT Corporation common stockholders:

Basic $ (0.06)

Diluted $ (0.06)

As Adjusted [Member]

Error Corrections and Prior Period Adjustments Restatement [Line Items]

Other operating expense $ (1,295)

Provision for income taxes (939)

Net loss (1,998)

Net loss attributable to IDT Corporation $ (2,299)

Loss per share attributable to IDT Corporation common stockholders:

Basic $ (0.10)

Diluted $ (0.10)

X

- References
No definition available.
+ Details

Name: us-gaap_EarningsPerShareAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=116637232&loc=SL114874131-224263

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=117326831&loc=d3e1337-109256

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=117327953&loc=d3e4984-109258

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=117326831&loc=d3e1252-109256

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=117326831&loc=SL5780133-109256
+ Details

Name: us-gaap_EarningsPerShareBasic

Namespace Prefix: us-gaap_

Data Type: num:perShareItemType

Balance Type: na

Period Type: duration

X

- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.
+ References
Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=117327953&loc=d3e4984-109258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=117326831&loc=d3e1252-109256

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=117326831&loc=d3e1337-109256

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=117326831&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=116637232&loc=SL114874131-224263
+ Details

Name: us-gaap_EarningsPerShareDiluted

Namespace Prefix: us-gaap_

Data Type: num:perShareItemType

Balance Type: na

Period Type: duration

X

- Definition
Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ References
No definition available.
+ Details

Name: us-gaap_ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementLineItems

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 20
-Section 45
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109238882&loc=d3e38679-109324
+ Details

Name: us-gaap_IncomeTaxExpenseBenefit

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669619-108580

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669625-108580

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-URI http://asc.fasb.org/extlink&oid=116637232&loc=SL114874131-224263

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257
+ Details

Name: us-gaap_NetIncomeLoss

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
The net amount of other operating income and expenses, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operations.
+ References
No definition available.
+ Details

Name: us-gaap_OtherOperatingIncomeExpenseNet

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669619-108580

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (a)(1)
-URI http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669625-108580

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4J
-URI http://asc.fasb.org/extlink&oid=116874947&loc=SL4591551-111686

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3000-108585

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=108774443&loc=SL4569616-111683

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4K
-URI http://asc.fasb.org/extlink&oid=116874947&loc=SL4591552-111686
+ Details

Name: us-gaap_ProfitLoss

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Details

Name: us-gaap_ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis=idt_ErrorCorrectionMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: srt_RestatementAxis=srt_ScenarioPreviouslyReportedMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: srt_RestatementAxis=srt_RestatementAdjustmentMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

XML 83 R9.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Revenue Recognition
3 Months Ended

Oct. 31, 2019

Revenue Recognition and Deferred Revenue [Abstract]

Revenue Recognition
Note 2—Revenue Recognition

The Company earns revenue from contracts with customers, primarily through the provision of retail telecommunications and payment offerings as well as wholesale international long-distance traffic termination. The Company has two reportable business segments, Telecom & Payment Services and net2phone. The Telecom & Payment Services segment is comprised of Core and Growth verticals. Core includes BOSS Revolution Calling, an international long-distance calling service marketed primarily to immigrant communities in the United States, Carrier Services, which provides international long-distance termination and outsourced traffic management solutions to telecoms worldwide, and Mobile Top-Up, which enables customers to transfer airtime and bundles of airtime, messaging and data credits to mobile accounts internationally and domestically. Core also includes smaller communications and payment offerings, many in harvest mode. Growth includes National Retail Solutions, which operates a point-of-sale terminal-based network for retailers, BOSS Revolution Money Transfer, an international money remittance service for customers in the United States, and BOSS Revolution Mobile, a mobile virtual network operator in the United States. The net2phone segment is comprised of net2phone-Unified Communications as a Service ("UCaaS"), a unified cloud-based communications service for businesses in North and South America and certain other international markets, and net2phone-Platform Services, which provides telephony services to cable operators and other businesses by leveraging a common technology platform.

The Company's core operations are mostly minute-based, paid-voice communications services, and revenue is primarily recognized at a point in time. The Company's Telecom & Payment Services' growth initiatives and net2phone-UCaaS are technology-driven, synergistic businesses that leverage the Company's core assets, and revenue, in some cases, is recognized over time. The Company's most significant revenue streams are from BOSS Revolution Calling, Mobile Top-Up, and Carrier Services. BOSS Revolution Calling and Mobile Top-Up are sold direct-to-consumers and through distributors and retailers.

Disaggregated Revenues

The following table shows the Company's revenues disaggregated by business segment and service offered to customers:

Three Months Ended
October 31,

2019

2018

(in thousands)

Core Operations:

BOSS Revolution Calling $ 116,242 $ 123,513

Carrier Services 113,517 142,222

Mobile Top-Up 76,815 65,346

Other 11,244 14,757

Growth 9,800 6,011

Total Telecom & Payment Services 327,618 351,849

net2phone-UCaaS 7,221 4,805

net2phone-Platform Services 5,406 5,662

Total net2phone 12,627 10,467

Total $ 340,245 $ 362,316

The following table shows the Company's revenues disaggregated by geographic region, which is determined based on selling location:

(in thousands) Telecom & Payment Services net2phone Total

Three Months Ended October 31, 2019

United States $ 218,655 $ 8,532 $ 227,187

Outside the United States:

United Kingdom 35,793 4 35,797

Netherlands 54,942 — 54,942

Other 18,228 4,091 22,319

Total outside the United States 108,963 4,095 113,058

Total $ 327,618 $ 12,627 $ 340,245

(in thousands) Telecom & Payment Services net2phone Total

Three Months Ended October 31, 2018

United States $ 231,624 $ 7,930 $ 239,554

Outside the United States:

United Kingdom 50,472 8 50,480

Netherlands 50,922 — 50,922

Other 18,831 2,529 21,360

Total outside the United States 120,225 2,537 122,762

Total $ 351,849 $ 10,467 $ 362,316

Remaining Performance Obligations

The Company's revenue is generally recognized in the same period that its performance obligations are satisfied. The Company does not have any significant revenue from performance obligations satisfied or partially satisfied in previous reporting periods, or any significant portion of transaction price to be allocated to performance obligations that are unsatisfied (or partially unsatisfied) at the end of a reporting period.

Accounts Receivable and Contract Balances

The timing of revenue recognition may differ from the time of billing to the Company's customers. Trade accounts receivable in the Company's consolidated balance sheets represent unconditional rights to consideration. An entity records a contract asset when revenue is recognized in advance of the entity's right to bill and receive consideration. The Company has not identified any contract assets.

Contract liabilities arise when the Company receives consideration or bills its customers prior to providing the goods or services promised in the contract. The primary component of the Company's contract liability balance is the payments received for its prepaid BOSS Revolution Calling, traditional calling cards, and Mobile Top-Up services. Contract liabilities are recognized as revenue when services are provided to the customer. The contract liability balances are presented in the Company's consolidated balance sheet as "Deferred revenue".

The following table presents information about the Company's contract liability balance:

Three Months Ended
October 31,

2019

2018

(in thousands)

Revenue recognized in the period from amounts included in the contract liability balance at the beginning of the period $ 29,112 $ 28,506

Deferred Customer Contract Acquisition and Fulfillment Costs

The Company incurs incremental costs of obtaining a customer contract, it does not incur direct costs to fulfill contracts. The Company's incremental costs of obtaining a customer contract are sales commissions paid to acquire customers. For Telecom & Payment Services, the Company applies the practical expedient whereby the Company primarily charges these costs to expense when incurred because the amortization period would be one year or less for the asset that would have been recognized from deferring these costs. For net2phone-UCaaS sales, employees and third parties receive commissions on sales to end users. The Company amortizes the deferred costs over the expected customer relationship period when it is expected to exceed one year.

The Company's deferred customer contract acquisition costs were as follows:

October 31,
2019

July 31,
2019

(in thousands)

Deferred customer contract acquisition costs included in "Other current assets" $ 1,754 $ 1,474

Deferred customer contract acquisition costs included in "Other assets" 1,916 1,716

Total $ 3,670 $ 3,190

The Company's amortization of deferred customer contract acquisition costs during the periods were as follows:

Three Months Ended
October 31,

2019

2018

(in thousands)

Amortization of deferred customer contract acquisition costs $ 551 $ —

X

- Definition
The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388
+ Details

Name: us-gaap_RevenueFromContractWithCustomerTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- References
No definition available.
+ Details

Name: us-gaap_RevenueRecognitionAndDeferredRevenueAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 84 R65.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Revolving Credit Loan Payable (Details)
$ in Thousands
3 Months Ended

Oct. 31, 2019

USD ($)

Revolving Credit Loan Payable (Textual)

Maximum principal amount of credit agreement $ 25,000

Unused outstanding amount $ 25,000

Line of credit maturity date Jul. 15, 2020

Average percentage of commitment fee per annum 0.30%

Interest rate, description The principal outstanding bears interest per annum at the LIBOR rate adjusted by the Regulation D maximum reserve requirement plus 125 basis points.

X

- References
No definition available.
+ Details

Name: idt_RevolvingCreditLoanPayableTextualAbstract

Namespace Prefix: idt_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Date the credit facility terminates, in CCYY-MM-DD format.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19(b),22(b))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details

Name: us-gaap_LineOfCreditFacilityExpirationDate1

Namespace Prefix: us-gaap_

Data Type: xbrli:dateItemType

Balance Type: na

Period Type: duration

X

- Definition
Description of the interest rate for the amounts borrowed under the credit facility, including the terms and the method for determining the interest rate (for example, fixed or variable, LIBOR plus a percentage, increasing rate, timing of interest rate resets, remarketing provisions).
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19(b),22(b))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details

Name: us-gaap_LineOfCreditFacilityInterestRateDescription

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19(b),22(b))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details

Name: us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Amount of borrowing capacity currently available under the credit facility (current borrowing capacity less the amount of borrowings outstanding).
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19(b),22(b))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details

Name: us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
The fee, expressed as a percentage of the line of credit facility, for available but unused credit capacity under the credit facility.
+ References
No definition available.
+ Details

Name: us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage

Namespace Prefix: us-gaap_

Data Type: num:percentItemType

Balance Type: na

Period Type: duration

XML 85 R46.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents (Details) - USD ($)
$ in Thousands

Oct. 31, 2019

Jul. 31, 2019

Oct. 31, 2018

Jul. 31, 2018

Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]

Cash and cash equivalents $ 62,183 $ 80,168

Restricted cash and cash equivalents 190,218 177,031

Total cash, cash equivalents, and restricted cash and cash equivalents $ 252,401 $ 257,199 $ 195,501 $ 203,197

X

- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3044-108585

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section 45
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118951113&loc=d3e6676-107765

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.1)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details

Name: us-gaap_CashAndCashEquivalentsAtCarryingValue

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Amount of cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage. Excludes amount for disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 24
-URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3521-108585

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3044-108585

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=98513485&loc=SL98516268-108586
+ Details

Name: us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- References
No definition available.
+ Details

Name: us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Amount of cash and cash equivalents restricted as to withdrawal or usage, classified as current. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.
+ References
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section 45
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118951113&loc=d3e6676-107765

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3044-108585

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(1))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=98513485&loc=SL98516268-108586
+ Details

Name: us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

XML 86 Show.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}} XML 87 R42.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Leases (Details)
$ in Thousands
3 Months Ended

Oct. 31, 2019

USD ($)

Leases [Abstract]

Operating lease cost $ 711

Short-term lease cost 58

Total lease cost 769

Cash paid for amounts included in the measurement of lease liabilities:

Operating cash flows from operating leases $ 684

Weighted-average remaining lease term-operating leases 4 years 10 months 25 days

Weighted-average discount rate-operating leases 3.12%

X

- References
No definition available.
+ Details

Name: us-gaap_CashFlowOperatingActivitiesLesseeAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Amount of lease cost recognized by lessee for lease contract.
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 55
-Paragraph 53
-URI http://asc.fasb.org/extlink&oid=77888399&loc=SL77918982-209971
+ Details

Name: us-gaap_LeaseCost

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- References
No definition available.
+ Details

Name: us-gaap_LeasesAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Amount of single lease cost, calculated by allocation of remaining cost of lease over remaining lease term. Includes, but is not limited to, single lease cost, after impairment of right-of-use asset, calculated by amortization of remaining right-of-use asset and accretion of lease liability.
+ References
Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 55
-Paragraph 53
-URI http://asc.fasb.org/extlink&oid=77888399&loc=SL77918982-209971

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 4
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980
+ Details

Name: us-gaap_OperatingLeaseCost

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
Amount of cash outflow from operating lease, excluding payments to bring another asset to condition and location necessary for its intended use.
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 45
-Paragraph 5
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=77888419&loc=SL77918643-209977

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 4
-Subparagraph (g)(1)
-URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980
+ Details

Name: us-gaap_OperatingLeasePayments

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
Weighted average discount rate for operating lease calculated at point in time.
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 4
-Subparagraph (g)(4)
-URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 55
-Paragraph 53
-URI http://asc.fasb.org/extlink&oid=77888399&loc=SL77918982-209971
+ Details

Name: us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent

Namespace Prefix: us-gaap_

Data Type: num:percentItemType

Balance Type: na

Period Type: instant

X

- Definition
Weighted average remaining lease term for operating lease, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days.
+ References
Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 55
-Paragraph 53
-URI http://asc.fasb.org/extlink&oid=77888399&loc=SL77918982-209971

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 4
-Subparagraph (g)(3)
-URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980
+ Details

Name: us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1

Namespace Prefix: us-gaap_

Data Type: xbrli:durationItemType

Balance Type: na

Period Type: instant

X

- Definition
Amount of short-term lease cost, excluding expense for lease with term of one month or less.
+ References
Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 4
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 55
-Paragraph 53
-URI http://asc.fasb.org/extlink&oid=77888399&loc=SL77918982-209971
+ Details

Name: us-gaap_ShortTermLeaseCost

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

Revenue Recognition (Details 4) - USD ($) $ in Thousands	3 Months Ended
Revenue Recognition (Details 4) - USD ($) $ in Thousands	Oct. 31, 2019	Oct. 31, 2018
Revenue Recognition and Deferred Revenue [Abstract]
Amortization of deferred customer contract acquisition costs	$ 551

Debt Securities (Details 1) $ in Thousands	Oct. 31, 2019 USD ($)
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling Maturity, Fair Value [Abstract]
Within one year	$ 8,694
After one year through five years	1,200
After five years through ten years
After ten years
Total	$ 9,894

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2019	Oct. 31, 2018
Schedule of accumulated balances for each classification of other comprehensive loss
Beginning balance	$ (4,858)
Other comprehensive loss attributable to IDT Corporation	(1,204)	$ 522
Ending balance	(6,062)
Unrealized Gain (Loss) on Available-for-Sale Securities [Member]
Schedule of accumulated balances for each classification of other comprehensive loss
Beginning balance
Other comprehensive loss attributable to IDT Corporation
Ending balance
Foreign Currency Translation [Member]
Schedule of accumulated balances for each classification of other comprehensive loss
Beginning balance	(4,858)
Other comprehensive loss attributable to IDT Corporation	(1,204)
Ending balance	(6,062)
Accumulated Other Comprehensive Loss [Member]
Schedule of accumulated balances for each classification of other comprehensive loss
Beginning balance	(4,858)
Other comprehensive loss attributable to IDT Corporation	(1,204)
Ending balance	$ (6,062)

Consolidated Balance Sheets - USD ($) $ in Thousands	Oct. 31, 2019	Jul. 31, 2019
CURRENT ASSETS:
Cash and cash equivalents	$ 62,183	$ 80,168
Restricted cash and cash equivalents	190,218	177,031
Debt securities	9,894	2,534
Equity investments	5,710	5,688
Trade accounts receivable, net of allowance for doubtful accounts of $5,675 at October 31, 2019 and $5,444 at July 31, 2019	50,963	58,060
Prepaid expenses	27,809	20,276
Other current assets	26,964	24,704
Total current assets	373,741	368,461
Property, plant and equipment, net	32,874	34,355
Goodwill	11,214	11,209
Other intangibles, net	4,110	4,196
Equity investments	9,337	9,319
Operating lease right-of-use assets	11,597
Deferred income tax assets, net	4,110	4,589
Other assets	12,054	11,574
Total assets	459,037	443,703
Current liabilities:
Trade accounts payable	37,159	37,077
Accrued expenses	121,058	127,834
Deferred revenue	40,739	42,479
Customer deposits	188,258	175,028
Other current liabilities	9,180	6,652
Total current liabilities	396,394	389,070
Operating lease liabilities	9,335
Other liabilities	977	1,076
Total liabilities	406,706	390,146
Commitments and contingencies
IDT Corporation stockholders' equity:
Preferred stock, $.01 par value; authorized shares—10,000; no shares issued
Additional paid-in capital	274,953	273,313
Treasury stock, at cost, consisting of 1,698 shares of Class A common stock and 908 shares of Class B common stock at October 31, 2019 and July 31, 2019	(51,739)	(51,739)
Accumulated other comprehensive loss	(6,062)	(4,858)
Accumulated deficit	(162,276)	(160,763)
Total IDT Corporation stockholders' equity	55,167	56,244
Noncontrolling interests	(2,836)	(2,687)
Total equity	52,331	53,557
Total liabilities and equity	459,037	443,703
Class A common stock
IDT Corporation stockholders' equity:
Common stock, value	33	33
Class B common stock
IDT Corporation stockholders' equity:
Common stock, value	$ 258	$ 258

Consolidated Statements of Equity (Unaudited) - USD ($) $ in Thousands	IDT Corporation Stockholders Class A Common Stock	IDT Corporation Stockholders Class B Common Stock	IDT Corporation Stockholders Additional Paid-In Capital	IDT Corporation Stockholders Treasury Stock	IDT Corporation Stockholders Accumulated Other Comprehensive Loss	IDT Corporation Stockholders Accumulated Deficit	Noncontrolling Interests	Total
Beginning Balance at Jul. 31, 2018	$ 33	$ 256	$ 294,047	$ (85,597)	$ (4,972)	$ (173,103)	$ 639	$ 31,303
Adjustment from the adoption of change in revenue recognition						9,064		9,064
Adjustment from the adoption of change in accounting for equity investments					33	1,140		1,173
BALANCE AT AUGUST 1, 2018 at Jul. 31, 2018	33	256	294,047	(85,597)	(4,939)	(162,899)	639	41,540
Repurchases of Class B common stock through repurchase program				(3,854)				(3,854)
Stock-based compensation			413					413
Distributions to noncontrolling interests							(339)	(339)
Other comprehensive loss/income					522			522
Net loss						(2,299)	301	(1,998)
Ending Balance at Oct. 31, 2018	33	256	294,460	(89,451)	(4,417)	(165,198)	601	36,284
Beginning Balance at Jul. 31, 2019	33	258	273,313	(51,739)	(4,858)	(160,763)	(2,687)	53,557
Exercise of stock options			276					276
Stock-based compensation			1,364					1,364
Distributions to noncontrolling interests							(240)	(240)
Other comprehensive loss/income					(1,204)			(1,204)
Net loss						(1,513)	91	(1,422)
Ending Balance at Oct. 31, 2019	$ 33	$ 258	$ 274,953	$ (51,739)	$ (6,062)	$ (162,276)	$ (2,836)	$ 52,331

Acquisition of Versature Corp. (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2019	Oct. 31, 2018
Business Combinations [Abstract]
Revenues	$ 340,245	$ 363,200
Net loss	$ (1,422)	$ (2,206)

Debt Securities (Details Textual) - USD ($) $ in Thousands	3 Months Ended
Debt Securities (Details Textual) - USD ($) $ in Thousands	Oct. 31, 2019	Oct. 31, 2018
Debt Securities (Textual)
Proceeds from maturities and sales of available-for-sale securities	$ 800	$ 3,400
Realized losses from sales of available-for-sale debt securities
Realized gains from sales of available-for-sale debt securities

Revenue Recognition (Details 2) - USD ($) $ in Thousands	3 Months Ended
Revenue Recognition (Details 2) - USD ($) $ in Thousands	Oct. 31, 2019	Oct. 31, 2018
Contract Liabilities [Member]
Revenue from External Customer [Line Items]
Revenue recognized in the period from amounts included in the contract liability balance at the beginning of the period	$ 29,112	$ 28,506

Other Operating Expense, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2019	Oct. 31, 2018
Other Operating Expense [Abstract]
Corporate—Straight Path Communications Inc. class action legal fees	$ 260	$ 195
net2phone—indemnification claim	365
Telecom & Payment Services-accrual for non-income related taxes related to a foreign subsidiary	2,150	1,100
Total other operating expense, net	$ (2,775)	$ (1,295)

Loss Per Share (Details) - shares	3 Months Ended
Loss Per Share (Details) - shares	Oct. 31, 2019	Oct. 31, 2018
Shares were excluded from the diluted earnings per share computations
Shares excluded from the calculation of diluted earnings per share	1,806	1,292
Stock options [Member]
Shares were excluded from the diluted earnings per share computations
Shares excluded from the calculation of diluted earnings per share	1,190	1,243
Non-vested restricted Class B common stock [Member]
Shares were excluded from the diluted earnings per share computations
Shares excluded from the calculation of diluted earnings per share	616	49

Business Segment Information (Details Textual)	3 Months Ended
Business Segment Information (Details Textual)	Oct. 31, 2019 Segment
Business Segment Information (Textual)
Number of reportable segments	2

Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents (Details Textual) - USD ($) $ in Thousands	Oct. 31, 2019	Jul. 31, 2019
Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents (Textual)
Restricted cash and cash equivalents	$ 190,218	$ 177,031
IDT Financial Services Limited [Member]
Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents (Textual)
Restricted cash and cash equivalents	$ 190,100	$ 176,800

Leases (Details 1) - USD ($) $ in Thousands	Oct. 31, 2019	Jul. 31, 2019
Leases [Abstract]
Operating lease liabilities included in "Other current liabilities"	$ 2,417
Operating lease liabilities included in noncurrent liabilities	9,335
Total	$ 11,752

Fair Value Measurements (Details 1) - Level 3 [Member] - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2019	Oct. 31, 2018
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance, beginning of period	$ 3,619
Transfer into Level 3 from adoption of change in accounting for equity investments		2,794
Total gains recognized in “Other income (expense), net”	18	22
Balance, end of period	3,637	2,816
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the period	$ 18	$ 22

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended
Revenue Recognition (Details) - USD ($) $ in Thousands	Oct. 31, 2019	Oct. 31, 2018
Revenue from External Customer [Line Items]
Revenues, Total	$ 340,245	$ 362,316
Total Telecom & Payment Services [Member]
Revenue from External Customer [Line Items]
Revenues, Total	327,618	351,849
Total Telecom & Payment Services [Member] \| BOSS Revolution Calling [Member]
Revenue from External Customer [Line Items]
Revenues, Total	116,242	123,513
Total Telecom & Payment Services [Member] \| Carrier Services [Member]
Revenue from External Customer [Line Items]
Revenues, Total	113,517	142,222
Total Telecom & Payment Services [Member] \| Mobile Top-Up [Member]
Revenue from External Customer [Line Items]
Revenues, Total	76,815	65,346
Total Telecom & Payment Services [Member] \| Other [Member]
Revenue from External Customer [Line Items]
Revenues, Total	11,244	14,757
Total Telecom & Payment Services [Member] \| Growth [Member]
Revenue from External Customer [Line Items]
Revenues, Total	9,800	6,011
Total net2phone [Member]
Revenue from External Customer [Line Items]
Revenues, Total	12,627	10,467
Total net2phone [Member] \| net2phone-UCaaS [Member]
Revenue from External Customer [Line Items]
Revenues, Total	7,221	4,805
Total net2phone [Member] \| Net2phone-Platform Services [Member]
Revenue from External Customer [Line Items]
Revenues, Total	$ 5,406	$ 5,662

Other Income (Expense), Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2019	Oct. 31, 2018
Other Income and Expenses [Abstract]
Foreign currency transaction gains (losses)	$ 671	$ (1,205)
Gain (loss) on investments	26	(46)
Other	(463)	(98)
Total other income (expense), net	$ 234	$ (1,349)

Equity Investments (Details 2) - USD ($) $ in Thousands	3 Months Ended
Equity Investments (Details 2) - USD ($) $ in Thousands	Oct. 31, 2019	Oct. 31, 2018
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Net (losses) gains recognized during the period on equity investments	$ 26	$ (46)
Less: net gains and losses recognized during the period on equity investments sold during the period
Unrealized gains (losses) recognized during the period on equity investments still held at the reporting date	$ 26	$ (46)

Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	Oct. 31, 2019	Jul. 31, 2019
Fair Value Measurements (Textual)
Fair value of investments in hedge funds	$ 5,500	$ 5,500

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Oct. 31, 2019	Dec. 06, 2019
Entity Registrant Name	IDT CORP
Entity Central Index Key	0001005731
Amendment Flag	false
Current Fiscal Year End Date	--07-31
Document Type	10-Q
Document Period End Date	Oct. 31, 2019
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2020
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Ex Transition Period	false
Entity File Number	1-16371
Entity Interactive Data Current	Yes
Entity Incorporation State Country Code	DE
Class A common stock
Entity Common Stock Shares Outstanding		1,574,326
Class B common stock
Entity Common Stock Shares Outstanding		24,927,890

Commitments and Contingencies (Details) - USD ($) $ in Thousands	Oct. 31, 2019	Jul. 31, 2019	Aug. 31, 2017
Commitments and Contingencies (Textual)
Accrued expenses	$ 42,100	$ 44,700
Purchase commitment	30,700
Aggregate commitment	26,500
Performance bonds outstanding	17,500
Restricted cash and cash equivalents	$ 9,800	$ 13,200
Telecom Operator [Member]
Commitments and Contingencies (Textual)
Escrow deposit			$ 9,200

Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2019	Oct. 31, 2018
Statement of Comprehensive Income [Abstract]
Net loss	$ (1,422)	$ (1,998)
Other comprehensive (loss) income:
Change in unrealized gain on available-for-sale securities		(2)
Foreign currency translation adjustments	(1,204)	524
Other comprehensive (loss) income	(1,204)	522
Comprehensive loss	(2,626)	(1,476)
Comprehensive income attributable to noncontrolling interests	(91)	(301)
Comprehensive loss attributable to IDT Corporation	$ (2,717)	$ (1,777)

Other Operating Expense, Net (Details 1) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Oct. 31, 2019	Oct. 31, 2018
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Other operating expense	$ (2,775)	$ (1,295)
Provision for income taxes	536	939
Net loss	(1,422)	(1,998)
Net loss attributable to IDT Corporation	$ (1,513)	(2,299)
Error Correction [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Other operating expense		(1,100)
Provision for income taxes		250
Net loss		(850)
Net loss attributable to IDT Corporation		$ (850)
Loss per share attributable to IDT Corporation common stockholders:
Basic		$ (0.04)
Diluted		$ (0.04)
Previously Reported [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Other operating expense		$ (195)
Provision for income taxes		(1,189)
Net loss		(1,148)
Net loss attributable to IDT Corporation		$ (1,449)
Loss per share attributable to IDT Corporation common stockholders:
Basic		$ (0.06)
Diluted		$ (0.06)
As Adjusted [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Other operating expense		$ (1,295)
Provision for income taxes		(939)
Net loss		(1,998)
Net loss attributable to IDT Corporation		$ (2,299)
Loss per share attributable to IDT Corporation common stockholders:
Basic		$ (0.10)
Diluted		$ (0.10)

Revolving Credit Loan Payable (Details) $ in Thousands	3 Months Ended
Revolving Credit Loan Payable (Details) $ in Thousands	Oct. 31, 2019 USD ($)
Revolving Credit Loan Payable (Textual)
Maximum principal amount of credit agreement	$ 25,000
Unused outstanding amount	$ 25,000
Line of credit maturity date	Jul. 15, 2020
Average percentage of commitment fee per annum	0.30%
Interest rate, description	The principal outstanding bears interest per annum at the LIBOR rate adjusted by the Regulation D maximum reserve requirement plus 125 basis points.

Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Oct. 31, 2019	Jul. 31, 2019	Oct. 31, 2018	Jul. 31, 2018
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	$ 62,183	$ 80,168
Restricted cash and cash equivalents	190,218	177,031
Total cash, cash equivalents, and restricted cash and cash equivalents	$ 252,401	$ 257,199	$ 195,501	$ 203,197

Leases (Details) $ in Thousands	3 Months Ended
Leases (Details) $ in Thousands	Oct. 31, 2019 USD ($)
Leases [Abstract]
Operating lease cost	$ 711
Short-term lease cost	58
Total lease cost	769
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 684
Weighted-average remaining lease term-operating leases	4 years 10 months 25 days
Weighted-average discount rate-operating leases	3.12%