Other Operating Gain (Expense), Net

3 Months Ended

Oct. 31, 2022

Other Income and Expenses [Abstract]

Other Operating Gain (Expense), Net

Note 10—Other Operating Gain (Expense), Net

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

	Three Months Ended October 31,
	2022			2021
	(in thousands)
Corporate—Straight Path Communications Inc. class action legal fees	$	(2,512	)	$	(978	)
Corporate—Straight Path Communications Inc. class action insurance claims		1,725			915
Fintech—write-off of contingent consideration liability		1,565			—
Fintech—other		33			—
Traditional Communications—cable telephony customer indemnification claim		(11	)		(25	)
Total other operating gain (expense), net	$	800		$	(88	)

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 months ended October 31, 2022 and 2021.

Write-off of Contingent Consideration Liability

In September 2022, the Company determined that the requirements for a portion of the contingent consideration payments related to the Leaf acquisition would not be met. The Company recognized a gain on the write-off of this contingent consideration payment obligation.

Indemnification Claim

Beginning in June 2019, as part of a commercial resolution, the Company indemnified a cable telephony customer related to patent infringement claims brought against the customer.