XML 42 R31.htm IDEA: XBRL DOCUMENT v3.24.3
Basis of Presentation (Policies)
 3 Months Ended
Oct. 31, 2024
Accounting Policies [Abstract]  
Reclassifications

Reclassifications

 

From and after August 1, 2024, the Company reclassified certain customer funds for pending money transfers in its consolidated financial statements. In the consolidated balance sheet at July 31, 2024, $8.9 million previously included in “Settlement liabilities” was reclassified to “Customer funds deposits,” and in the consolidated statements of cash flows in the three months ended October 31, 2023, cash used for “Trade accounts payable, accrued expenses, settlement liabilities, other current liabilities, and other liabilities” of $0.7 million was reclassified to cash used for “Customer funds deposits”. These amounts were reclassified to conform to the current year’s presentation.

 

From and after February 1, 2024, the Company reclassified most of its technology and development expenses from “Selling, general and administrative” expense to a new “Technology and development” expense caption in the consolidated statements of income and reclassified an amount that was immaterial in all periods to “Direct cost of revenues.” The following table shows the amounts that were reclassified in the three months ended October 31, 2023 to conform to the current period’s presentation:

 

      
(in thousands)     
Selling, general and administrative expense reclassified to:     
      
Direct cost of revenues  $434 
Technology and development expenses  $12,410