XML 19 R8.htm IDEA: XBRL DOCUMENT v3.20.4
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jan. 31, 2021
Jan. 31, 2020
Operating activities    
Net income (loss) $ 21,620 $ (518)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 8,956 10,479
Deferred income taxes 5,881 1,587
Provision for doubtful accounts receivable 1,069 1,466
Stock-based compensation 940 2,531
Other (17) (412)
Change in assets and liabilities:    
Trade accounts receivable (7,330) 6,253
Prepaid expenses, other current assets and other assets 4,965 (9,315)
Trade accounts payable, accrued expenses, other current liabilities, and other liabilities 1,631 (11,488)
Customer deposits at IDT Financial Services Limited (Gibraltar-based bank) (11,136) (20,613)
Deferred revenue (968) (3,260)
Net cash provided by (used in) operating activities 25,611 (23,290)
Investing activities    
Capital expenditures (8,825) (7,656)
Payments for acquisitions, net of cash acquired (2,388) (450)
Purchase of Rafael Holdings, Inc. Class B common stock and warrant (5,000)  
Purchases of debt securities and equity investments (34,436) (8,994)
Proceeds from maturities and sales of debt securities and redemptions of equity investments 11,575 2,672
Net cash used in investing activities (39,074) (14,428)
Financing activities    
Distributions to noncontrolling interests (418) (470)
Repayment of other liabilities. (56) (79)
Repayments of borrowings under revolving credit facility   (273)
Proceeds from borrowings under revolving credit facility   273
Proceeds from exercise of stock options 686 276
Repurchases of Class B common stock (4,192) (266)
Net cash used in financing activities (3,980) (539)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash and cash equivalents 5,560 14,152
Net decrease in cash, cash equivalents, and restricted cash and cash equivalents (11,883) (24,105)
Cash, cash equivalents, and restricted cash and cash equivalents at beginning of period 201,222 257,199
Cash, cash equivalents, and restricted cash and cash equivalents at end of period 189,339 233,094
Supplemental schedule of non-cash investing and financing activities    
Liabilities incurred for acquisition $ 393 $ 375