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Leases | 12 Months Ended
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Jul. 31, 2022
Leases |
Leases | Note 4—Leases The Company’s leases primarily consist of operating leases for office space. These leases have remaining terms from less than one year to six years. net2phone also has operating leases for office equipment. Certain of these leases include renewal options that may be exercised and/or options to terminate the lease. The Company has concluded that it is not reasonably certain that it would exercise the options to extend or terminate the leases. net2phone is the lessee in equipment leases that are classified as finance leases. The assets and liabilities related to these finance leases are not material to the Company’s consolidated balance sheets. IDT CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued) The Company leases office and parking space in a building and parking garage located at 520 Broad St, Newark, New Jersey that was owned by the Company’s former subsidiary, Rafael Holdings, Inc. (“Rafael”). On August 22, 2022, Rafael sold the building and parking garage to an unrelated third party. The Company’s lease in that building continues with the new owner. The Company also leases office space in Israel from Rafael. Howard S. Jonas, the Chairman of the Company’s Board of Directors, is also the Chairman of the Board of Directors of Rafael. The Newark lease expires in April 2025 and the Israel lease expires in July 2025. In fiscal 2022, fiscal 2021, and fiscal 2020, the Company incurred lease costs of $2.0 million, $1.9 million, and $1.9 million, respectively, in connection with the Rafael leases, which is included in operating lease cost in the table below. Supplemental disclosures related to the Company’s operating leases were as follows: Schedule of Supplemental Disclosures Related to the Company's Operating Leases
Year ended July 31 (in thousands) |  | 2022 |  |  | 2021 |  |  | 2020 |
Operating lease cost |  | $ | 2,901 |  |  | $ | 2,824 |  |  | $ | 2,832 |
Short-term lease cost |  |  | 1,348 |  |  |  | 620 |  |  |  | 246 |
TOTAL LEASE COST |  | $ | 4,249 |  |  | $ | 3,444 |  |  | $ | 3,078 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 2,857 |  |  | $ | 2,779 |  |  | $ | 2,745 |
Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases |  | $ | 2,857 |  |  | $ | 2,779 |  |  | $ | 2,745 |
Schedule of Supplemental Disclosures Related Weighted Average Operating Leases
July 31 |  | 2022 |  |  | 2021 |
Weighted-average remaining lease term-operating leases |  |  | 2.8 years |  |  |  | 3.4 years |
Weighted-average discount rate-operating leases |  |  | 3.0 | % |  |  | 2.9 | %
In fiscal 2022 and fiscal 2021, the Company entered into new office leases with an aggregate operating lease liability of $2.2 million and $0.6 million, respectively. The Company’s aggregate operating lease liability was as follows: Schedule of Aggregate Operating Lease Liability
July 31 (in thousands) |  | 2022 |  |  | 2021 |
Operating lease liabilities included in “Other current liabilities” |  | $ | 2,899 |  |  | $ | 2,456 |
Operating lease liabilities included in noncurrent liabilities |  |  | 4,606 |  |  |  | 5,473 |
TOTAL |  | $ | 7,505 |  |  | $ | 7,929 |
Future minimum maturities of operating lease liabilities were as follows: Schedule of Future Minimum Maturities of Operating Lease Liabilities
(in thousands) |  |  |
Year ending July 31: |  |  |  |
2023 |  | $ | 3,088 |
2024 |  |  | 2,502 |
2025 |  |  | 1,872 |
2026 |  |  | 194 |
2027 |  |  | 141 |
Thereafter |  |  | 48 |
Total lease payments |  |  | 7,845 |
Less imputed interest |  |  | (340 | )
Total operating lease liabilities |  | $ | 7,505 |
IDT CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=77888251 + Details
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