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Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents

9 Months Ended

Apr. 30, 2019

Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents [Abstract]

Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents

Note 3—Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents

On August 1, 2018, the Company adopted ASU No. 2016-18, Statement of Cash Flows (Topic 230), related to the classification and presentation of changes in restricted cash in the statement of cash flows. The following table provides a reconciliation of cash, cash equivalents, and restricted cash and cash equivalents reported in the consolidated balance sheet that equals the total of the same amounts reported in the consolidated statement of cash flows:

		April 30, 2019				July 31, 2018
		(in thousands)
Cash and cash equivalents		$	79,326			$	73,981
Restricted cash and cash equivalents			162,848				129,216
Total cash, cash equivalents, and restricted cash and cash equivalents		$	242,174			$	203,197

At April 30, 2019 and July 31, 2018, restricted cash and cash equivalents included $162.5 million and $128.9 million, respectively, in cash and cash equivalents held by IDT Financial Services Limited, the Company’s Gibraltar-based bank.

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- Definition

The entire disclosure for cash and cash equivalent footnotes, which may include the types of deposits and money market instruments, applicable carrying amounts, restricted amounts and compensating balance arrangements. Cash and equivalents include: (1) currency on hand (2) demand deposits with banks or financial institutions (3) other kinds of accounts that have the general characteristics of demand deposits (4) short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments maturing within three months from the date of acquisition qualify.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 305
-URI http://asc.fasb.org/topic&trid=2122426

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- References

No definition available.

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