XML 43 R31.htm IDEA: XBRL DOCUMENT v3.10.0.1

Basis Of Presentation And Summary Of Significant Accounting Policies (Tables)

3 Months Ended

Sep. 30, 2018

Basis Of Presentation And Summary Of Significant Accounting Policies [Abstract]

Schedule Of Impact Of Restatement On Consolidated Financial Statements

Consolidated balance sheet
	As of June 30, 2018
		As						As
		Reported			Correction			Restated
		(in thousands)
Accumulated other comprehensive loss	$	(159,237	)	$	(25,199	)	$	(184,436	)
Retained earnings		812,426			25,199			837,625
Total equity	$	738,430		$	-		$	738,430

Consolidated statement of operations
	Year ended June 30, 2018
		As				As
		Reported		Correction		Restated
		(in thousands, except per share data)
Change in fair value of equity securities	$	-	$	32,473	$	32,473
Income before income taxes		67,893		32,473		100,366
Income tax expense		41,353		7,274		48,627
Net income before earnings from equity-accounted
investments		26,540		25,199		51,739
Net income		38,270		25,199		63,469
Net income attributable to Net1	$	39,150	$	25,199	$	64,349
Net income per share, in United States dollars: .
Basic earnings attributable to Net1 shareholders		0.69		0.44		1.13
Diluted earnings attributable to Net1 shareholders .		0.69		0.44		1.13

Consolidated statement of comprehensive income
		Year ended June 30, 2018
		As					As
		Reported		Correction			Restated
				(in thousands)
Net income	$	38,270	$	25,199		$	63,469
Net unrealized income on asset available for sale,
net of tax		25,199		(25,199	)		-
Total other comprehensive income (loss)		3,234		(25,199	)		(21,965	)
Comprehensive income	$	41,504	$	-		$	41,504

Consolidated statement of changes in equity
		Retained		Accumulated other
		earnings		comprehensive loss
				(in thousands)
As reported – June 30, 2018	$	812,426	$	(159,237	)
Correction of misstatement		25,199		(25,199	)
As restated – June 30, 2018	$	837,625	$	(184,436	)

Consolidated statement of cash flows
		Year ended June 30, 2018
		As						As
		Reported			Correction			Restated
					(in thousands)
Net income	$	38,270		$	25,199		$	63,469
Fair value adjustment		212			(32,473	)		(32,685	)
Increase (Decrease) in deferred taxes		(1,308	)		7,274			5,966
Net cash provided by operating activities	$	132,605		$	-		$	132,605

X

- References

No definition available.

+ Details

Name:	us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22663-107794

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22644-107794

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22658-107794

+ Details

Name:	us-gaap_ScheduleOfErrorCorrectionsAndPriorPeriodAdjustmentsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration