XML 19 R8.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Apr. 30, 2019
Apr. 30, 2018
Operating activities    
Net income (loss) $ 3,498 $ (3,336)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 16,881 17,207
Deferred income taxes 2,049 4,524
Provision for doubtful accounts receivable 1,218 1,120
Stock-based compensation 1,212 2,842
Other (700) 5
Change in assets and liabilities:    
Trade accounts receivable 14,045 2,943
Prepaid expenses, other current assets and other assets 213 (13,436)
Trade accounts payable, accrued expenses, other current liabilities and other liabilities (18,432) (21,075)
Customer deposits at IDT Financial Services Limited, our Gibraltar-based bank 33,086 18,468
Deferred revenue (5,716) (8,138)
Net cash provided by operating activities 47,354 1,124
Investing activities    
Capital expenditures (13,724) (15,969)
Payment for acquisition, net of cash acquired (5,526)
Proceeds from redemption of investments 1,000
Cash used for purchase of investments (1,000)
Proceeds from sale of interest in Straight Path IP Group Holding, Inc. 6,000
Purchase of IP Interest from Straight Path Communications Inc. (6,000)
Purchases of marketable securities (7) (22,208)
Proceeds from maturities and sales of marketable securities 5,312 36,655
Net cash used in investing activities (13,945) (1,522)
Financing activities    
Dividends paid (11,677)
Cash of Rafael deconsolidated as a result of spin-off (9,287)
Distributions to noncontrolling interests (1,187) (1,023)
Proceeds from sale of Class B common stock to Howard S. Jonas 13,272
Repayment of other liabilities acquired. (635)
Proceeds from borrowings under revolving credit facility 3,000 22,125
Repayments of borrowings under revolving credit facility (3,000) (22,125)
Repurchases of Class B common stock (3,882) (61)
Net cash provided by (used in) financing activities 7,568 (22,048)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash and cash equivalents (2,000) 5,472
Net increase (decrease) in cash, cash equivalents, and restricted cash and cash equivalents 38,977 (16,974)
Cash, cash equivalents, and restricted cash and cash equivalents at beginning of period 203,197 211,963
Cash, cash equivalents, and restricted cash and cash equivalents at end of period 242,174 194,989
Supplemental schedule of non-cash investing and financing activities    
Howard S. Jonas’ advance payment used for sale of Class B common stock 1,500
Net assets excluding cash and cash equivalents of Rafael deconsolidated as a result of spin-off $ (105,632)