Debt Securities

12 Months Ended

Jul. 31, 2021

Investments, Debt and Equity Securities [Abstract]

Debt Securities

Note 7—Debt Securities

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

(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
July 31, 2021
Certificates of deposit*	$	1,200	$	3	$	—		$	1,203
U.S. Treasury bills and notes		1,669		—		(17	)		1,652
Corporate bonds		6,327		38		(33	)		6,332
Municipal bonds		4,825		—		—			4,825
TOTAL	$	14,021	$	41	$	(50	)	$	14,012
July 31, 2020
Certificates of deposit*	$	13,844	$	58	$	—		$	13,902
U.S. Treasury bills		2,498		—		—			2,498
Municipal bonds		1,979		—		(16	)		1,963
TOTAL	$	18,321	$	58	$	(16	)	$	18,363

* 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 redemptions of equity investments were $26.2 million and $6.5 million in fiscal 2021 and fiscal 2020, respectively. There were no realized gains or realized losses from sales of debt securities in fiscal 2021 and fiscal 2020.

The contractual maturities of the Company’s available-for-sale debt securities at July 31, 2021 were as follows:

(in thousands)	Fair Value
Within one year	$	2,489
After one year through five years		7,463
After five years through ten years		3,771
After ten years		289
TOTAL	$	14,012

The following available-for-sale debt securities were in an unrealized loss position for which other-than-temporary impairments were not recognized:

(in thousands)	Unrealized Losses		Fair Value
July 31, 2021
U.S. Treasury bills and notes	$	17	$	1,652
Corporate bonds		33		3,293
TOTAL	$	50	$	4,945
July 31, 2020
Municipal bonds	$	16	$	1,963

At July 31, 2021 and 2020, there were no securities in a continuous unrealized loss position for 12 months or longer.

IDT CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)