XML 31 R15.htm IDEA: XBRL DOCUMENT
v3.24.3

Leases | 12 Months Ended
--- | ---
Jul. 31, 2024
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. 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 any of these options. The Company leases office and parking space in a building and parking garage located at 520 Broad St, Newark, New Jersey that was previously owned by Rafael Holdings, Inc. (“Rafael”), a related party. On August 22, 2022, Rafael sold the building and parking garage to an unrelated third party. The Company’s lease in that property continues with the new owner. The Company leases office space in Israel from Rafael. Howard S. Jonas, the Chairman of the Company and the Chairman of the Company’s Board of Directors is also the Chairman of the Board of Directors and Executive Chairman of Rafael. The Newark lease expires in April 2025 and the Israel lease expires in July 2025. In fiscal 2024, fiscal 2023, and fiscal 2022, the Company incurred lease costs in connection with the Rafael leases of $0.1 million, $0.3 million (which excludes Newark lease costs after August 22, 2022), and $2.0 million, respectively. Lease costs incurred in connection with the Rafael leases are 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) |  | 2024 |  |  | 2023 |  |  | 2022 |
Operating lease cost |  | $ | 2,557 |  |  | $ | 3,175 |  |  | $ | 2,901 |
Short-term lease cost |  |  | 924 |  |  |  | 1,095 |  |  |  | 1,348 |
TOTAL LEASE COST |  | $ | 3,481 |  |  | $ | 4,270 |  |  | $ | 4,249 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 2,588 |  |  | $ | 3,262 |  |  | $ | 2,857 |
Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases |  | $ | 2,588 |  |  | $ | 3,262 |  |  | $ | 2,857 |
Schedule of Supplemental Disclosures Related Weighted Average Operating Leases
July 31 |  | 2024 |  |  | 2023 |
Weighted-average remaining lease term-operating leases |  |  | 2.6 years |  |  |  | 2.3 years |
Weighted-average discount rate-operating leases |  |  | 5.6 | % |  |  | 3.7 | %
In fiscal 2024, fiscal 2023, and fiscal 2022, the Company obtained right-of-use assets of $0.9 million, $1.8 million, and $2.2 million, respectively, in exchange for new operating lease liabilities. In addition, in fiscal 2024, the Company modified its lease at 520 Broad St, Newark, New Jersey and reduced the related right-of-use asset by $0.8 million and the related operating lease liability by $0.9 million. The Company’s aggregate operating lease liability was as follows: Schedule of Aggregate Operating Lease Liability
July 31 (in thousands) |  | 2024 |  |  | 2023 |
Operating lease liabilities included in “Other current liabilities” |  | $ | 1,866 |  |  | $ | 2,861 |
Operating lease liabilities included in noncurrent liabilities |  |  | 1,533 |  |  |  | 2,881 |
TOTAL |  | $ | 3,399 |  |  | $ | 5,742 |
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: |  |  |  |
2025 |  | $ | 2,002 |
2026 |  |  | 699 |
2027 |  |  | 490 |
2028 |  |  | 233 |
2029 |  |  | 185 |
Thereafter |  |  | 62 |
Total lease payments |  |  | 3,671 |
Less imputed interest |  |  | (272 | )
Total operating lease liabilities |  | $ | 3,399 |

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

X
- 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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration