XML 62 R34.htm IDEA: XBRL DOCUMENT
v3.19.3

Description Of Business And Basis Of Presentation (Tables) | 12 Months Ended
--- | ---
Jun. 30, 2019
Description Of Business And Basis Of Presentation [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) |  |  |  |
Equity-accounted investments |  | $ | 87,992 |  | $ | (1,976 | ) | $ | 86,016 |
Total assets |  |  | 1,219,290 |  |  | (1,976 | ) |  | 1,217,314 |
Deferred tax liabilities |  |  | 16,510 |  |  | (443 | ) |  | 16,067 |
Total liabilities |  |  | 373,188 |  |  | (443 | ) |  | 372,745 |
Accumulated other comprehensive loss |  |  | (184,436 | ) |  | (102 | ) |  | (184,538 | )
Retained earnings |  |  | 837,625 |  |  | (1,431 | ) |  | 836,194 |
Total equity |  | $ | 738,430 |  | $ | (1,533 | ) | $ | 736,897 |
Consolidated statement of operations
|  |  | Year ended June 30, 2018
|  |  |  | As |  |  |  |  | As
|  |  |  | reported |  | Correction |  |  | restated
|  |  |  | (in thousands, except per share data)
|  | Income tax expense | $ | 48,627 | $ | (30 | ) | $ | 48,597
|  | Net income before earnings from equity-accounted investments |  | 51,739 |  | 30 |  |  | 51,769
|  | Earnings from equity-accounted investments |  | 11,730 |  | (133 | ) |  | 11,597
|  | Net income |  | 63,469 |  | (103 | ) |  | 63,366
|  | Net income attributable to Net1 | $ | 64,349 | $ | (103 | ) | $ | 64,246
|  | Net income per share, in United States dollars: |  |  |  |  |  |  |
|  | Basic earnings attributable to Net1 shareholders | $ | 1.13 | $ | (0.00 | ) | $ | 1.13
|  | Diluted earnings attributable to Net1 shareholders | $ | 1.13 | $ | (0.00 | ) | $ | 1.13
|  |  | Year ended June 30, 2017
|  |  |  | As |  |  |  |  | As
|  |  |  | reported |  | Correction |  |  | restated
|  |  |  | (in thousands, except per share data)
|  | Income tax expense | $ | 42,472 | $ | 34 |  | $ | 42,506
|  | Net income before earnings from equity-accounted investments |  | 71,984 |  | (34 | ) |  | 71,950
|  | Earnings from equity-accounted investments |  | 2,664 |  | 150 |  |  | 2,814
|  | Net income |  | 74,648 |  | 116 |  |  | 74,764
|  | Net income attributable to Net1 | $ | 72,954 | $ | 116 |  | $ | 73,070
|  | Net income per share, in United States dollars: |  |  |  |  |  |  |
|  | Basic earnings attributable to Net1 shareholders | $ | 1.34 | $ | 0.00 |  | $ | 1.34
|  | Diluted earnings attributable to Net1 shareholders | $ | 1.33 | $ | 0.00 |  | $ | 1.33
Consolidated statement of comprehensive (loss) income
| Year ended June 30, 2018
|  | As |  |  |  |  |  | As |
|  | reported |  |  | Correction |  |  | restated |
|  |  |  |  | (in thousands) |  |  |  |
Net income | $ | 63,469 |  | $ | (103 | ) | $ | 63,366 |
Movement in foreign currency translation reserve |  | (19,539 | ) |  | 65 |  |  | (19,474 | )
Total other comprehensive (loss) income |  | (21,965 | ) |  | 65 |  |  | (21,900 | )
Comprehensive income |  | 41,504 |  |  | (38 | ) |  | 41,466 |
Comprehensive income attributed to Net1 | $ | 42,482 |  | $ | (38 | ) | $ | 42,444 |
| Year ended June 30, 2017
|  | As |  |  |  |  |  | As |
|  | reported |  |  | Correction |  |  | restated |
|  |  |  |  | (in thousands) |  |  |  |
Net income | $ | 74,648 |  | $ | 116 |  | $ | 74,764 |
Movement in foreign currency translation reserve |  | 30,466 |  |  | (175 | ) |  | 30,291 |
Total other comprehensive income (loss) |  | 27,769 |  |  | (175 | ) |  | 27,594 |
Comprehensive income |  | 102,417 |  |  | (59 | ) |  | 102,358 |
Comprehensive income attributed to Net1 | $ | 100,085 |  | $ | (59 | ) | $ | 100,026 |
Consolidated statement of changes in equity
|  |  |  |  | Accumulated |
|  |  |  |  | other |
|  | Retained |  |  | comprehensive |
|  | earnings |  |  | loss |
|  | (in thousands) |
As reported – July 1, 2016 | $ | 700,322 |  | $ | (189,700 | )
Correction of misstatement |  | (1,444 | ) |  | 8 |
As restated – July 1, 2016 | $ | 698,878 |  | $ | (189,692 | )
As reported – June 30, 2017 | $ | 773,276 |  | $ | (162,569 | )
Correction of misstatement |  | (1,328 | ) |  | (167 | )
As restated – June 30, 2017 | $ | 771,948 |  | $ | (162,736 | )
As reported – June 30, 2018 | $ | 837,625 |  | $ | (184,436 | )
Correction of misstatement |  | (1,431 | ) |  | (102 | )
As restated – June 30, 2018 | $ | 836,194 |  | $ | (184,538 | )
Consolidated statement of cash flows
| Year ended June 30, 2018
|  | As |  |  |  |  |  | As |
|  | reported |  |  | Correction |  |  | restated |
|  |  |  |  | (in thousands) |  |  |  |
Net income | $ | 63,469 |  | $ | (103 | ) | $ | 63,366 |
Earnings from equity-accounted investment |  | (11,730 | ) |  | 133 |  |  | (11,597 | )
Increase (Decrease) in deferred taxes |  | 5,966 |  |  | (30 | ) |  | 5,936 |
Net cash provided by operating activities | $ | 132,305 |  | $ | - |  | $ | 132,305 |
| Year ended June 30, 2017
|  | As |  |  |  |  |  | As |
|  | reported |  |  | Correction |  |  | restated |
|  |  |  |  | (in thousands) |  |  |  |
Net income | $ | 74,648 |  | $ | 116 |  | $ | 74,764 |
Earnings from equity-accounted investment |  | (2,664 | ) |  | (150 | ) |  | (2,814 | )
Increase (Decrease) in deferred taxes |  | (220 | ) |  | 34 |  |  | (186 | )
Net cash provided by operating activities | $ | 97,161 |  | $ | - |  | $ | 97,161 |

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