XML 28 R15.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Debt Securities | 12 Months Ended
--- | ---
Jul. 31, 2022
Debt Securities, Trading and Available-for-Sale [Abstract] |
Debt Securities | Note 7—Debt Securities The following is a summary of available-for-sale debt securities: Schedule of Available-for-sale Securities
(in thousands) |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
July 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit* |  | $ | 2,000 |  |  | $ | — |  |  | $ | (14 | ) |  | $ | 1,986 |
U.S. Treasury bills and notes |  |  | 13,848 |  |  |  | — |  |  |  | (114 | ) |  |  | 13,734 |
Corporate bonds |  |  | 3,966 |  |  |  | 1 |  |  |  | (416 | ) |  |  | 3,551 |
Municipal bonds |  |  | 3,035 |  |  |  | — |  |  |  | (3 | ) |  |  | 3,032 |
TOTAL |  | $ | 22,849 |  |  | $ | 1 |  |  | $ | (547 | ) |  | $ | 22,303 |
July 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit* |  | $ | 1,200 |  |  | $ | 3 |  |  | $ | — |  |  | $ | 1,203 |
U.S. Treasury bills and notes |  |  | 1,669 |  |  |  | — |  |  |  | (17 | ) |  |  | 1,652 |
Corporate bonds |  |  | 6,327 |  |  |  | 38 |  |  |  | (33 | ) |  |  | 6,332 |
Municipal bonds |  |  | 4,825 |  |  |  | — |  |  |  | — |  |  |  | 4,825 |
TOTAL |  | $ | 14,021 |  |  | $ | 41 |  |  | $ | (50 | ) |  | $ | 14,012 |
* | Each of the certificates of deposit held by the Company has a CUSIP, was purchased in the secondary market through a broker and may be sold in the secondary market.
Proceeds from maturities and sales of debt securities and redemptions of equity investments were $21.2 million, $26.2 million, and $6.5 million in fiscal 2022, fiscal 2021, and fiscal 2020, respectively. There were no realized gains or realized losses from sales of debt securities in fiscal 2022, fiscal 2021, and fiscal 2020. The contractual maturities of the Company’s available-for-sale debt securities at July 31, 2022 were as follows: Schedule of Contractual Maturities of Available-for-sale Debt Securities
(in thousands) |  | Fair Value |
Within one year |  | $ | 15,374 |
After one year through five years |  |  | 3,729 |
After five years through ten years |  |  | 2,634 |
After ten years |  |  | 566 |
TOTAL |  | $ | 22,303 |
IDT CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued) The following available-for-sale debt securities were in an unrealized loss position for which other-than-temporary impairments were not recognized: Schedule of Available-for-sale Securities, Unrealized Loss Position
(in thousands) |  | Unrealized Losses |  |  | Fair Value |
July 31, 2022 |  |  |  |  |  |  |  |
Certificates of deposit |  | $ | 14 |  |  | $ | 1,986 |
U.S. Treasury bills and notes |  |  | 114 |  |  |  | 13,734 |
Corporate bonds |  |  | 416 |  |  |  | 3,514 |
Municipal bonds |  |  | 3 |  |  |  | 2,412 |
TOTAL |  | $ | 547 |  |  | $ | 21,646 |
July 31, 2021 |  |  |  |  |  |  |  |
U.S. Treasury bills and notes |  | $ | 17 |  |  | $ | 1,652 |
Corporate bonds |  |  | 33 |  |  |  | 3,293 |
TOTAL |  | $ | 50 |  |  | $ | 4,945 |
At July 31, 2021, there were no securities in a continuous unrealized loss position for 12 months or longer. At July 31, 2022, the following available-for-sale debt securities included in the table above were in a continuous unrealized loss position for 12 months or longer: Schedule of Continuous Unrealized Loss Position for 12 Months or Longer
(in thousands) |  | Unrealized Losses |  |  | Fair Value |
July 31, 2022 |  |  |  |  |  |  |  |
U.S. Treasury bills and notes |  | $ | 72 |  |  | $ | 892 |
Corporate bonds |  |  | 234 |  |  |  | 1,731 |
TOTAL |  | $ | 306 |  |  | $ | 2,623 |
At July 31, 2022, the Company did not intend to sell any of the debt securities included in the table above, and it is not more likely than not that the Company will be required to sell any of these securities before recovery of the unrealized losses, which may be at maturity.

X
- References No definition available. + Details
Name: | us-gaap_DebtSecuritiesTradingAndAvailableForSaleAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2209399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI https://asc.fasb.org/topic&trid=2196928 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2176304 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph (b) + Details
Name: | us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration