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Variable Interest Entity

9 Months Ended

Apr. 30, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Variable Interest Entity

Note 9—Variable Interest Entity

The Company is the primary beneficiary of the Disbursement Payments VIE. The Company determined that, effective May 31, 2021, it had the power to direct the activities of the Disbursement Payments VIE that most significantly impact its economic performance, and the Company has the obligation to absorb losses of and the right to receive benefits from the Disbursement Payments VIE that could potentially be significant to it. As a result, the Company consolidates the Disbursement Payments VIE. The Company does not currently own any interest in the Disbursement Payments VIE and thus the net income incurred by the Disbursement Payments VIE was attributed to noncontrolling interests in the accompanying consolidated statements of income.

The Disbursement Payments VIE’s net income and aggregate funding provided by (repaid to) the Company were as follows:

Schedule of Net Income and Aggregate Funding Repaid to the Company by VIE

		2025				2024				2025				2024
		Three Months Ended April 30,								Nine Months Ended April 30,
		2025				2024				2025				2024
		(in thousands)
Net income of the Disbursement Payments VIE		$	187			$	301			$	537			$	275
Aggregate funding provided by (repaid to) the Company, net		$	109			$	(110	)		$	368			$	127

The Disbursement Payments VIE’s summarized consolidated balance sheet amounts are as follows:

VIE’s Summarized Consolidated Balance Sheet

		April 30, 2025				July 31, 2024
		(in thousands)
Assets:
Cash and equivalents		$	2,913			$	2,626
Restricted cash			12,597				7,426
Trade accounts receivable, net			176				74
Disbursement prefunding			1,425				2,587
Prepaid expenses			233				258
Other current assets			238				294
Property, plant, and equipment, net			195				179
Other intangibles, net			470				584
Total assets		$	18,247			$	14,028
Liabilities and noncontrolling interests:
Trade accounts payable		$	—			$	4
Accrued expenses			209				124
Customer funds deposits			12,421				9,195
Due to the Company			609				241
Accumulated other comprehensive income			34				27
Noncontrolling interests			4,974				4,437
Total liabilities and noncontrolling interests		$	18,247			$	14,028

The Disbursement Payments VIE’s assets may only be used to settle the Disbursement Payments VIE’s obligations and may not be used for other consolidated entities. The Disbursement Payments VIE’s liabilities are non-recourse to the general credit of the Company’s other consolidated entities.

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- References

No definition available.

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- Definition

The entire disclosure for a variable interest entity (VIE), including but not limited to, judgments and assumptions in determining whether to consolidate and in identifying the primary beneficiary, gain (loss) recognized on the initial consolidation of the VIE, terms of arrangements, amounts and classification of the VIE's assets and liabilities, and the entity's maximum exposure to loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 810
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/810/tableOfContent

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