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Property, Plant, and Equipment
 12 Months Ended
Jul. 31, 2021
Property, Plant and Equipment [Abstract]  
Property, Plant, and Equipment

Note 10—Property, Plant, and Equipment

 

Property, plant, and equipment consist of the following:

 

July 31
(in thousands)		  2021   2020 
Equipment  $50,039   $67,530 
Computer software   141,978    130,565 
Leasehold improvements   1,727    1,723 
Furniture and fixtures   588    450 
Property, plant and equipment, gross    194,332    200,268 
Less accumulated depreciation and amortization   (163,503)   (170,207)
Property, plant, and equipment, net  $30,829   $30,061 

 

The Company reduced gross property, plant, and equipment and accumulated depreciation and amortization by $23.9 million and $16.9 million in fiscal 2021 and fiscal 2020, respectively, for property, plant, and equipment that was fully depreciated and no longer in service.

 

Depreciation and amortization expense of property, plant, and equipment was $17.1 million and $20.0 million in fiscal 2021 and fiscal 2020, respectively.

 

Telephone equipment leased to customers included in “Equipment” in the table above was as follows:

 

July 31        
(in thousands)  2021   2020 
Equipment  $7,438   $4,563 
Less accumulated depreciation   (2,071)   (1,021)
Net  $5,367   $3,542 

 

Depreciation expense of telephone equipment leased to customers was $1.1 million and $0.6 million in fiscal 2021 and fiscal 2020, respectively.

 

 

IDT CORPORATION

 

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)