Other Operating (Expense) Gain, Net

6 Months Ended

Jan. 31, 2022

Other Income and Expenses [Abstract]

Other Operating (Expense) Gain, Net

Note 10—Other Operating (Expense) Gain, Net

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

	Three Months Ended January 31,						Six Months Ended January 31,
	2022			2021			2022			2021
	(in thousands)
Corporate—Straight Path Communications Inc. class action legal fees	$	(2,694	)	$	(1,397	)	$	(3,671	)	$	(1,718	)
Corporate—Straight Path Communications Inc. class action insurance claims		1,972			1,091			2,887			1,714
net2phone-UCaaS—write-off of contingent consideration liability		303			—			303			—
net2phone-UCaaS—other		(10	)		(100	)		(10	)		(100	)
Traditional Communications—gain from sale of rights under class action lawsuit		—			2,000			—			2,000
Traditional Communications—net2phone indemnification claim		(12	)		(387	)		(36	)		(387	)
Traditional Communications— Carrier Services settlement		—			—			—			(554	)
Traditional Communications—other		(1	)		—			(3	)		—
Total other operating (expense) gain, net	$	(442	)	$	1,207		$	(530	)	$	955

Straight Path Communications Inc. Class Action

As discussed in Note 16, the Company (as well as other defendants) has been named in a pending putative class action on behalf of the stockholders of the Company’s former subsidiary, Straight Path Communications Inc. (“Straight Path”), and a derivative complaint. The Company incurred legal fees and recorded offsetting gains from insurance claims related to this action in the three and six months ended January 31, 2022 and 2021.

Write-off of Contingent Consideration

In the three months ended January 31, 2022, the Company determined that the requirements for a contingent consideration payment related to an acquisition in December 2019 would not be met before the expiration date. The Company recognized a gain on the write-off of the contingent consideration.

Gain from Sale of Rights under Class Action Lawsuit

  On December 21, 2020, the Company received $2.0 million from the sale to a third party of all its rights under the Payment Card Interchange Fee and Merchant Discount Antitrust Litigation. The lawsuit is about claims that merchants paid excessive fees to accept Visa and Mastercard cards between January 1, 2004 and January 25, 2019 because Visa and Mastercard, individually, and together with their respective member banks, violated the antitrust laws.

Indemnification Claim

Beginning 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.