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v3.22.2.2

Property, Plant, and Equipment | 12 Months Ended
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Jul. 31, 2022
Property, Plant and Equipment [Abstract] |
Property, Plant, and Equipment | Note 10—Property, Plant, and Equipment Property, plant, and equipment consist of the following: Schedule of Property, Plant and Equipment
July 31 (in thousands) |  | 2022 |  |  | 2021 |
Equipment |  | $ | 40,811 |  |  | $ | 50,039 |
Computer software |  |  | 156,258 |  |  |  | 141,978 |
Leasehold improvements |  |  | 1,874 |  |  |  | 1,727 |
Furniture and fixtures |  |  | 681 |  |  |  | 588 |
Property, plant and equipment, gross |  |  | 199,624 |  |  |  | 194,332 |
Less accumulated depreciation and amortization |  |  | (162,758 | ) |  |  | (163,503 | )
Property, plant, and equipment, net |  | $ | 36,866 |  |  | $ | 30,829 |
IDT CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued) The Company reduced its gross property, plant, and equipment and accumulated depreciation and amortization by $17.4 million and $23.9 million in fiscal 2022 and fiscal 2021, 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 $16.8 million, $17.1 million, and $20.0 million in fiscal 2022, fiscal 2021, and fiscal 2020, respectively. Telephone equipment leased to customers included in “Equipment” in the table above was as follows: Schedule of Property, Plant and Equipment
July 31 |  |  |  |  |  |
(in thousands) |  | 2022 |  |  | 2021 |
Equipment |  | $ | 9,844 |  |  | $ | 7,438 |
Less accumulated depreciation |  |  | (3,129 | ) |  |  | (2,071 | )
Net |  | $ | 6,715 |  |  | $ | 5,367 |
Depreciation expense of telephone equipment leased to customers was $1.4 million, $1.1 million, and $0.6 million in fiscal 2022, fiscal 2021, and fiscal 2020, respectively.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI https://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=126982197&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99779-112916 + Details
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