Other Intangible Assets

12 Months Ended

Jul. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Other Intangible Assets

Note 12—Other Intangible Assets

The table below presents information on the Company’s amortized intangible assets:

(in thousands)	Weighted Average Amortization Period		Gross Carrying Amount		Accumulated Amortization			Net Balance
July 31, 2022
Tradenames		11.4 years	$	2,480	$	(700	)	$	1,780
Non-compete agreements		5.5 years		1,316		(549	)		767
Customer relationships		7.8 years		11,590		(4,528	)		7,062
TOTAL		8.2 years	$	15,386	$	(5,777	)	$	9,609
July 31, 2021
Tradenames		13.0 years	$	2,080	$	(506	)	$	1,574
Non-compete agreements		4.9 years		680		(380	)		300
Customer relationships		11.5 years		9,462		(3,758	)		5,704
TOTAL		11.4 years	$	12,222	$	(4,644	)	$	7,578

IDT CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

Amortization expense of intangible assets was $1.3 million, $0.7 million, and $0.4 million in fiscal 2022, fiscal 2021, and fiscal 2020, respectively. The Company estimates that amortization expense of intangible assets with finite lives will be $1.5 million, $1.4 million, $1.2 million, $1.2 million, and $1.2 million in fiscal 2023, fiscal 2024, fiscal 2025, fiscal 2026, and fiscal 2027, respectively.