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Business Segment Information
 12 Months Ended
Jul. 31, 2020
Segment Reporting [Abstract]  
Business Segment Information

Note 23—Business Segment Information

 

The Company has two reportable business segments, Telecom & Payment Services and net2phone. The Company’s reportable segments are distinguished by types of service, customers and methods used to provide their services. The operating results of these business segments are regularly reviewed by the Company’s chief operating decision maker. The accounting policies of the segments are the same as the accounting policies of the Company as a whole. The Company evaluates the performance of its business segments based primarily on income (loss) from operations.

 

The Telecom & Payment Services segment provides retail telecommunications and payment offerings as well as wholesale international long-distance traffic termination. The net2phone segment provides cloud communications and telephony services to business customers. Depreciation and amortization are allocated to Telecom & Payment Services and net2phone because the related assets are not tracked separately by segment. There are no other significant asymmetrical allocations to segments.

 

Corporate costs include compensation, consulting fees, treasury and accounts payable, tax and accounting services, human resources and payroll, corporate purchasing, corporate governance including Board of Directors’ fees, internal and external audit, investor relations, corporate insurance, corporate legal, business development, charitable contributions, travel, and other corporate-related general and administrative expenses. Corporate does not generate any revenues, nor does it incur any direct cost of revenues.

 

Operating results for the business segments of the Company were as follows:

 

(in thousands)  Telecom
& Payment
Services		   net2phone   Corporate   Total 
Year ended July 31, 2020                
Revenues  $1,294,947   $50,822   $
—
   $1,345,769 
Income (loss) from operations   42,296    (14,691)   (9,663)   17,942 
Depreciation and amortization   12,367    7,993    46    20,406 
Severance   3,466    
—
    37    3,503 
Other operating (expense), net   (3,225)   (1,307)   (531)   (5,063)
Year ended July 31, 2019                    
Revenues  $1,361,908   $47,264   $
—
   $1,409,172 
Income (loss) from operations   14,330    (6,479)   (8,856)   (1,005)
Depreciation and amortization   16,084    6,544    4    22,632 
Severance   1,438    
—
    
—
    1,438 
Other operating (expense) gains, net   (7,785)   (267)   326    (7,726)

 

Total assets for the reportable segments are not provided because a significant portion of the Company’s assets are servicing both segments and the Company does not track such assets separately by segment.

 

Geographic Information

 

Net long-lived assets and total assets held outside of the United States, which are located primarily in Western Europe, were as follows:.

 

(in thousands)  United
States		   Foreign
Countries		   Total 
July 31, 2020            
Long-lived assets, net  $18,834   $11,227   $30,061 
Total assets   102,176    302,574    404,750 
July 31, 2019               
Long-lived assets, net  $25,797   $8,558   $34,355 
Total assets   103,113    340,590    443,703