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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jan. 31, 2022
Jan. 31, 2021
Operating activities    
Net income $ 5,911 $ 21,620
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 8,825 8,956
Deferred income taxes 1,683 5,881
Provision for doubtful accounts receivable 1,289 1,069
Net unrealized loss (gain) from marketable securities 16,242 (286)
Stock-based compensation 595 940
Other 2,850 269
Change in assets and liabilities:    
Trade accounts receivable (8,045) (7,330)
Disbursement prefunding, prepaid expenses, other current assets, and other assets (8,551) 4,965
Trade accounts payable, accrued expenses, other current liabilities, and other liabilities (6,313) 1,631
Customer deposits at IDT Financial Services Limited (Gibraltar-based bank) (1,862) (11,136)
Deferred revenue (960) (968)
Net cash provided by operating activities 11,664 25,611
Investing activities    
Capital expenditures (8,991) (8,825)
Purchase of convertible preferred stock in equity method investment (1,051)
Payments for acquisitions, net of cash acquired (100) (2,388)
Purchase of Rafael Holdings, Inc. Class B common stock and warrant (5,000)
Purchases of debt securities and equity investments (10,825) (34,436)
Proceeds from maturities and sales of debt securities and redemptions of equity investments 6,068 11,575
Net cash used in investing activities (14,899) (39,074)
Financing activities    
Distributions to noncontrolling interests (198) (418)
Proceeds from other liabilities 2,301
Repayment of other liabilities. (1,291) (56)
Proceeds from borrowings under revolving credit facility 2,488
Repayment of borrowings under revolving credit facility (2,488)
Proceeds from sale of redeemable equity in subsidiary 10,000
Proceeds from exercise of stock options 686
Repurchases of Class B common stock (8,974) (4,192)
Net cash provided by (used in) financing activities 1,838 (3,980)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash and cash equivalents (4,967) 5,560
Net decrease in cash, cash equivalents, and restricted cash and cash equivalents (6,364) (11,883)
Cash, cash equivalents, and restricted cash and cash equivalents at beginning of period 226,916 201,222
Cash, cash equivalents, and restricted cash and cash equivalents at end of period 220,552 189,339
Supplemental schedule of non-cash investing and financing activities    
Liabilities incurred for acquisition $ 393