Property, Plant, and Equipment

12 Months Ended

Jul. 31, 2022

Property, Plant and Equipment [Abstract]

Property, Plant, and Equipment

Note 10—Property, Plant, and Equipment

Property, plant, and equipment consist of the following:

July 31 (in thousands)	2022			2021
Equipment	$	40,811		$	50,039
Computer software		156,258			141,978
Leasehold improvements		1,874			1,727
Furniture and fixtures		681			588
		199,624			194,332
Less accumulated depreciation and amortization		(162,758	)		(163,503	)
Property, plant, and equipment, net	$	36,866		$	30,829

IDT CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

The Company reduced its gross property, plant, and equipment and accumulated depreciation and amortization by $17.4 million and $23.9 million in fiscal 2022 and fiscal 2021, respectively, for property, plant, and equipment that was fully depreciated and no longer in service.

Depreciation and amortization expense of property, plant, and equipment was $16.8 million, $17.1 million, and $20.0 million in fiscal 2022, fiscal 2021, and fiscal 2020, respectively.

Telephone equipment leased to customers included in “Equipment” in the table above was as follows:

July 31
(in thousands)	2022			2021
Equipment	$	9,844		$	7,438
Less accumulated depreciation		(3,129	)		(2,071	)
Net	$	6,715		$	5,367

Depreciation expense of telephone equipment leased to customers was $1.4 million, $1.1 million, and $0.6 million in fiscal 2022, fiscal 2021, and fiscal 2020, respectively.