XML 55 R33.htm IDEA: XBRL DOCUMENT
v3.19.3

Selected Quarterly Financial Data (Unaudited) | 12 Months Ended
--- | ---
Jul. 31, 2019
Quarterly Financial Information Disclosure [Abstract] |
Selected Quarterly Financial Data (Unaudited) | Note 25—Selected Quarterly Financial Data (Unaudited) The table below presents selected quarterly financial data of the Company for its fiscal quarters in fiscal 2019 and fiscal 2018:
Quarter Ended (in thousands, except per share data) |  | Revenues |  |  | Direct cost of revenues |  |  | Income (loss) from operations |  |  | Net (loss) income |  |  | Net (loss) income attributable to IDT Corporation |  |  | Net (loss) income per share –basic |  |  | Net (loss) income per share – diluted |
2019(a): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
October 31(b) |  | $ | 362,316 |  |  | $ | 304,693 |  |  | $ | 182 |  |  | $ | (1,998 | ) |  | $ | (2,299 | ) |  | $ | (0.10 | ) |  | $ | (0.10 | )
January 31 |  |  | 349,473 |  |  |  | 291,178 |  |  |  | (457 | ) |  |  | (1,011 | ) |  |  | (1,311 | ) |  |  | (0.05 | ) |  |  | (0.05 | )
April 30 |  |  | 341,255 |  |  |  | 282,791 |  |  |  | 449 |  |  |  | 2,457 |  |  |  | 2,170 |  |  |  | 0.08 |  |  |  | 0.08 |
July 31(c) |  |  | 356,128 |  |  |  | 295,353 |  |  |  | (1,179 | ) |  |  | 882 |  |  |  | 1,574 |  |  |  | 0.06 |  |  |  | 0.06 |
TOTAL |  | $ | 1,409,172 |  |  | $ | 1,174,015 |  |  | $ | (1,005 | ) |  | $ | 330 |  |  | $ | 134 |  |  | $ | 0.01 |  |  | $ | 0.01 |
2018: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
October 31 |  | $ | 393,555 |  |  | $ | 336,510 |  |  | $ | 83 |  |  | $ | (1,797 | ) |  | $ | (2,092 | ) |  | $ | (0.08 | ) |  | $ | (0.08 | )
January 31(d) |  |  | 395,883 |  |  |  | 337,229 |  |  |  | (480 | ) |  |  | 1,690 |  |  |  | 1,516 |  |  |  | 0.06 |  |  |  | 0.06 |
April 30 (e) |  |  | 365,410 |  |  |  | 307,165 |  |  |  | (1,693 | ) |  |  | (3,230 | ) |  |  | (3,458 | ) |  |  | (0.14 | ) |  |  | (0.14 | )
July 31(f) |  |  | 392,647 |  |  |  | 325,133 |  |  |  | 10,468 |  |  |  | 8,536 |  |  |  | 8,242 |  |  |  | 0.33 |  |  |  | 0.33 |
TOTAL |  | $ | 1,547,495 |  |  | $ | 1,306,037 |  |  | $ | 8,378 |  |  | $ | 5,199 |  |  | $ | 4,208 |  |  | $ | 0.17 |  |  | $ | 0.17 |
(a) | In fiscal 2019, the Company recorded an $8.0 million accrual for non-income related taxes related to one of its foreign subsidiaries. A portion of the accrual related to each of the fiscal quarters in fiscal 2019 (see Note 13). Accordingly, the Company corrected its consolidated financial statements for its fiscal quarters ended October 31, 2018, January 31, 2019, and April 30, 2019 to include the accrued expense and the related income tax benefit. The Company has determined that the adjustments were not material to its previously issued quarterly financial statements.
(b) | Included in net loss was foreign currency transaction losses of $1.2 million and provision for income taxes of $1.2 million.
| (c) | Included in net income was gain on investments of $1.1 million and included in net income attributable to IDT Corporation was net loss attributable to noncontrolling interests of $0.7 million.
| (d) | Included in net income was a benefit from income taxes of $3.3 million for an anticipated AMT credit refund.
| (e) | Included in loss from operations was severance expense of $3.7 million.
| (f) | Included in revenues was $9.5 million related to a change in estimate for recognizing certain breakage revenue. The Company recorded breakage revenue when the likelihood of the customer exercising its remaining rights became remote. In the fourth quarter of 2018, the Company changed when it generally deemed the likelihood remote from 24 or 36 months of no activity to 12 or 24 months of no activity. Included in income from operations was severance expense of $0.3 million and other operating losses, net of $0.4 million.

X
- References No definition available. + Details
Name: | us-gaap_QuarterlyFinancialInformationDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
Name: | us-gaap_QuarterlyFinancialInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration