Acquisitions, Dispositions And Discontinued Operations (Tables)

12 Months Ended

Jun. 30, 2020

Net1 Korea [Member]

Impact Of Deconsolidation And Calculation Of Net Gain Recognized On Deconsolidation

Net1 Korea
						March 2020
Proceeds from disposal of Net1 Korea, net of cash disposed					$	192 619
Add: Cash and cash equivalents disposed						23 473
Add: Cash withheld by purchaser to settle South Korean taxes(1)						21 128
Fair value of consideration received						237 220
Less: carrying value of Net1 Korea, comprising						200 843
	Cash and cash equivalents					23 473
	Accounts receivable, net					30 467
	Finance loans receivable, net					13 695
	Inventory					2 377
	Property, plant and equipment, net					7 601
	Operating lease right of use asset					181
	Goodwill (Note 11)					107 964
	Intangible assets, net					4 655
	Deferred income taxes assets					1 719
	Other long-term assets					10 984
	Accounts payable					(5 484)
	Other payables					(5 523)
	Operating lease lease liability - current					(69)
	Income taxes payable					(3 481)
	Deferred income taxes liabilities					(1 497)
	Operating lease liability - long-term					(112)
	Other long-term liabilities					(335)
	Released from accumulated other comprehensive income – foreign currency translation reserve (Note 16)					14 228
	Settlement assets					44 111
	Settlement liabilities					(44 111)
		Gain recognized on disposal, before transaction costs and tax				36 377
		Transaction costs(2)				8 644
			Gain recognized on disposal, before tax			27 733
			Taxes related to gain recognized on disposal(1)			15 279
				Gain recognized on disposal, after tax	$	12 454

(1) Represents taxes to be paid related to the disposal of Net1 Korea. The Company also agreed that the purchaser withholdcapital gains taxes of $19.9 million (approximately KRW 23.8 billion) and non-refundable securities transaction taxes of$1.2 million (approximately KRW 1.4 billion), for a total withholding of $21.1 million, from the purchase price and pay such amounts, on behalf of Net1 BV, to the South Korean tax authorities. Net1 BV has commenced the process to approach the South Korean tax authorities in order to claim a refund, in full, of the capital gains taxes withheld. The Company has included the expected amount to be refunded in the caption Accounts receivable, net and other receivables in its consolidated balance sheet as of June 30,2020, refer also to Note 5.

(2) Transaction costs include expenses incurred by the Company of $7.5 million directly related to the disposal of Net1 Korea and paid in cash and a non-refundable securities transfer tax of approximately $1.2 million which was also withheld from the purchase price and paid to the South Korean tax authorities directly by the purchaser.

Schedule Of Balances Included On Condensed Consolidated Balance Sheet

Net1 Korea
		June 30,
		2019
Current assets of discontinued operation		$	117 842
	Cash and cash equivalents		26 051
	Accounts receivable, net		41 359
	Finance loans receivable, net		9 650
	Inventory		1 826
	Settlement assets		38 956
Long-term assets of discontinued operation			149 390
	Property, plant and equipment, net		10 327
	Goodwill (Note 11)		112 071
	Intangible assets, net		9 661
	Deferred income taxes assets		1 917
	Other long-term assets		15 414
Current liabilities of discontinued operation			57 815
	Accounts payable		7 139
	Other payables		6 827
	Income taxes payable		4 893
	Settlement liabilities		38 956
Long-term liabilities of discontinued operation			3 264
	Deferred income taxes liabilities		2 756
	Other long-term liabilities	$	508

FIHRST [Member]

Impact Of Deconsolidation And Calculation Of Net Gain Recognized On Deconsolidation

FIHRST
					December 31,
					2019
Proceeds from disposal of FIHRST, net of cash disposed					$	10 895
Add: Cash and cash equivalents disposed						854
Fair value of consideration received						11 749
Less: carrying value of FIHRST, comprising						1 870
	Cash and cash equivalents					854
	Accounts receivable, net					367
	Property, plant and equipment, net					64
	Goodwill (Note 11)					599
	Intangible assets, net					30
	Deferred income taxes assets					42
	Accounts payable					(7)
	Other payables					(1 437)
	Income taxes payable					(220)
	Released from accumulated other comprehensive income – foreign currency translation reserve (Note 16)					1 578
	Settlement assets					17 406
	Settlement liabilities					(17 406)
		Gain recognized on disposal, before tax				9 879
		Taxes related to gain recognized on disposal, comprising:				-
			Capital gains tax			2 654
			Release of valuation allowance related to capital losses previously unutilized(1)			(2 654)
		Transaction costs				136
				Gain recognized on disposal, after tax	$	9 743

(1) Net1 SA recorded a valuation allowance related to capital losses previously generated but not utilized. A portion of these unutilized capital losses was utilized as a result of the disposal of FIHRST and, therefore,the equivalent portion of the valuation allowance created was released.

DNI [Member]

Schedule Of Cash Paid Net Of Cash Received Related To Acquisition Of DNI

			2018
DNI(1)		$	6 202
	Total cash paid, net of cash received	$	6 202

(1) – represents the cash paid, net of cash acquired, to acquire a further 6% voting and economic interest, which resulted in the Company obtaining a controlling stake in DNI. As described below, the acquisition of DNI occurred in stages and DNI was accounted for using the equity method until June 30, 2018, being the point at which the Company obtained control over DNI. The total cash paid, net of cash acquired, to obtain a 55% voting and economic interest in DNI was $85.7 million.

Summary Of Fair Value Of DNI Intangible Assets Acquired And Weighted-Average Amortization Period

				Fair value as of acquisition date	Weighted-average amortization period (in years)
Finite-lived intangible asset:
	Acquired during the year ended June 30, 2018:
		DNI – customer relationships acquired	$	97 255	5 – 15
		DNI – software and unpatented technology		2 609	5
		DNI – trademarks	$	4 139	5

Impact Of Deconsolidation And Calculation Of Net Gain Recognized On Deconsolidation

DNI (as restated, refer to Note 1)
									Equity method investment as of June 30, 2019
					Total		17% sold		8% retained interest sold in May 2019		30% retained interest		Attributed to non-controlling interest
Fair value of consideration received					$	27 626	$	27 626	$	-	$	-	$	-
Fair value of retained interest in DNI(1)						74 195		-		14 849		59 346		-
Carrying value of non-controlling interest						88 934		-		-		-		88 934
Subtotal						190 755		27 626		14 849		59 346		88 934
Less: carrying value of DNI, comprising						199 930		38 346		14 540		58 110		88 934
	Cash and cash equivalents					2 114		354		158		633		969
	Accounts receivable, net					24 577		4 116		1 841		7 358		11 262
	Finance loans receivable, net					1 030		173		77		308		472
	Inventory					893		149		66		268		410
	Property, plant and equipment, net					1 265		212		95		379		579
	Equity-accounted investments					242		41		19		72		110
	Goodwill					113 003		18 924		8 466		33 834		51 779
	Intangible assets, net					80 769		13 526		6 051		24 183		37 009
	Deferred income taxes					28		5		2		8		13
	Other long-term assets					26 553		4 447		1 989		7 950		12 167
	Accounts payable					(5 186)		(868)		(389)		(1 553)		(2 376)
	Other payables(2)					(16 484)		(2 760)		(1 235)		(4 936)		(7 553)
	Income taxes payable					(2 482)		(416)		(186)		(743)		(1 137)
	Deferred income taxes					(22 083)		(3 698)		(1 654)		(6 612)		(10 119)
	Long-term debt					(10 150)		(1 700)		(760)		(3 039)		(4 651)
	Released from accumulated other comprehensive income – foreign currency translation reserve (as restated) (Note 1 and Note 16)					5 841		5 841		-		-		-
		Loss recognized on disposal, before tax, comprising				(9 175)		(10 720)		309		1 236		-
			Related to sale of 17% of DNI			(10 720)		(10 720)		-		-
			Related to fair value adjustment of retained interest in 38% of DNI			1 545		-		309		1 236
			Taxes related to gain recognized on disposal(3)			-		505		(3 836)		3 331
				Loss recognized on disposal of discontinued operation, after tax (as restated)	$	(9 175)	$	(11 225)	$	4 145	$	(2 095)

(1) The fair value of the retained interest in 38% of DNI of $74.2 million ($14.9 million plus $59.3 million) has been calculated using the impliedfair value of DNI pursuant to the RMB Disposal and has been calculated as ZAR 215.0 million divided by 7.605235% multiplied by 38%,translated to dollars at the March 31, 2019, rate of exchange.

(2) Other payables include a short-term loan of ZAR 60.5 million ($4.3 million, translated at exchange rates applicable as of June 30, 2019) due to the Company. The short-term loan is included in accounts receivable, net and other receivables on the Company’s consolidated balance sheet as of June 30, 2019. The loan was repaid in full on July 31, 2019. Interest on the loan was charged at the South African prime rate.

(3) Amounts presented are net of a valuation allowance provided. The disposal of DNI resulted in a capital loss for tax purposes of approximately $1.5 million and the Company provided a valuation allowance of $1.5 million against this capital loss because it did not have any capital gains to offset against this amount at the time. On an individual basis, the transaction to dispose of 17% of DNI resulted in a capital gain of $0.5 million and the re-measurement of the retained 38% interest has resulted in a capital loss of $2.0 million ($5.3 million (8% transaction) less $3.3 million (30% transaction)). The valuation allowance of $1.5 million was provided against the $5.3 million, for a net amount presented in the table above of $3.8 million ($5.3 million less $1.5 million).

Schedule Of Balances Included On Condensed Consolidated Balance Sheet

					DNI - discontinued operations
					as of June 30, 2018
					Initial				Amended
					DNI PPA		Amendment		DNI PPA
Current assets:				$	22 482	$	-	$	22 482
	Cash and cash equivalents				2 979		-		2 979
	Accounts receivable				16 235		-		16 235
	Finance loans receivable				742		-		742
	Inventory				2 526		-		2 526
Long-term assets:					242 704		(1 951)		240 753
	Property, plant and equipment				1 317		-		1 317
	Equity-accounted investment				339		-		339
	Goodwill				114 161		5 017		119 178
	Intangible assets				104 003		(6 968)		97 035
	Deferred tax assets				1 536		-		1 536
	Other long-term assets				21 348		-		21 348
Current liabilities:					(20 914)		-		(57 350)
	Accounts payables				(13 949)		-		(13 949)
	Other payables				(6 349)		-		(6 349)
	Current portion of long-term borrowings				(616)		-		(616)
Long-term liabilities:					(38 387)		1 951		(36 436)
	Other long-term liabilities(1)				(8 291)		-		(8 291)
	Deferred tax liabilities				(30 096)		1 951		(28 145)
		Fair value of assets and liabilities on acquisition		$	205 885	$	-		205 885
		Less: fair value attributable to controlling interests on acquisition date							(94 123)
		Less: fair value of equity-accounted investment, comprising:							(100 947)
			Add: loss on re-measurement of previously held interest						4 614
			Less: Contingent payment recognized related to 49% interest acquired						(25 589)
			Less: carrying value at the acquisition date						(79 972)
		Less: Contingent payment recognized related to 6% interest acquired							(1 633)
			Total purchase price					$	9 182

(1) – DNI concluded an acquisition in November 2017 and other long-term liabilities includes a contingent purchase consideration of ZAR 113.8 million ($8.3 million) due to the sellers and other long-term assets includes an amount due from the DNI shareholders, excluding the Company. DNI is obligated under the terms of this obligation to pay 50% of the purchase consideration plus or (less) a contingent amount (refund) calculated on a multiple of excess (deficit) earnings over (less) an agreed earnings amount. The other DNI shareholders have agreed to reimburse DNI the 50% consideration plus (less) the contingent amount (refund) payable in full. Therefore, other long-term asset includes the amounts due from the DNI shareholder, excluding the Company, and other long-term liabilities includes the contingent consideration due under the November 2017 acquisition. The Company expectedDNI to pay, and to be reimbursed, the additional amount during the first quarter of the year ended June 30, 2020, which expected amount represented the present value of the ZAR 129.0 million ($9.4 million) to be paid (amounts translated at exchange rates applicable as of June 30, 2018). The present value of ZAR 113.8 million ($8.3 million) was calculated using the following assumptions (a) the maximum additional amount of ZAR 129.0 million will be paid on August 1, 2019 and (b) an interest rate of 10.0 % (the rate used to calculate interest earned by DNI on its surplus South African funds) has been used to discount the ZAR 129.0 million to its present value as of June 30, 2018. Utilization of different inputs, or changes to these inputs, may have resulted in significantly higher or lower fair value measurement.

Schedule Of Revenues And Expenses After DNI Disposal Transaction

DNI
		Years ended June 30,
	2020		2019
Revenue generated from transactions with DNI	$	-	$	-
Expenses incurred related to transactions with DNI	$	2 902	$	63

DNI [Member] | Customer Relationships [Member]

Impact Of Reversal On Condensed Consolidated Statement Of Operation

		Year ended June 30, 2019
Reversal of intangible asset amortization - decrease depreciation and amortization	$	506
Deferred tax impact related to reversal of intangible asset amortization - decrease income tax benefit		142
Increase in non-controlling interest	$	164

DNI And Net1 Korea [Member]

Schedule Of Major Captions That Have Not Been Separately Presented On Related To Discontinued Operation

				2020	2019						2018
				Total (Net1 Korea)	Total		Net1 Korea		DNI		Total		Net1 Korea		DNI
Consolidated statement of operations
	Discontinued:
		Revenue	$	85 375	$	194 763	$	138 426	$	56 337	$	153 314	$	153 314	$	-
		Cost of goods sold, IT processing, servicing and support		37 377		85 652		57 984		27 668		60 982		60 982		-
		Selling, general and administration		30 562		57 136		53 479		3 657		57 567		57 567		-
		Depreciation and amortization		8 652		25 246		17 220		8 026		25 011		25 011		-
		Impairment loss		-		5 305		-		5 305		-		-		-
		Operating income		8 784		21 424		9 743		11 681		9 754		9 754		-
		Interest income		678		1 805		1 098		707		1 040		1 040		-
		Interest expense		106		864		52		812		372		372		-
		Net income before tax		9 356		22 365		10 789		11 576		10 422		10 422		-
		Income tax expense		2 954		8 750		4 989		3 761		2 868		2 868		-
		Net income before earnings from equity-accounted investments		6 402		13 615		5 800		7 815		7 554		7 554		-
		Earnings from equity-accounted investments(1)		-		15		-		15		7 005		-		7 005
		Net income from discontinued operations	$	6 402	$	13 630	$	5 800	$	7 830	$	14 559	$	7 554	$	7 005
Consolidated statement of cash flows
	Discontinued:
		Total net cash provided by operating activities(2)(3)	$	3 758	$	11 976	$	5 341	$	6 635	$	25 939	$	24 174	$	1 765
		Total net cash provided by (used) in investing activities(3)	$	1 524	$	(6 816)	$	(6 300)	$	(516)	$	(8 270)	$	(8 270)	$	-

(1) Earnings from equity-accounted investments for the year ended June 30, 2018, represents DNI earnings (net of amortization of acquired intangibles and related deferred tax) attributed to the Company as a result of the Company using the equity method to account for its investment in DNI during the period (refer to Note 10).

(2) Total net cash (used in) provided by operating activities for the year ended June 30, 2019, includes dividends received of $0.9 million (refer to Note 10) from DNI while it was accounted for using the equity method during the three months ended June 30, 2019.

(3) Total net cash (used in) provided by operating activities for the year ended June 30, 2018, represents dividends received from DNI during the period.

CPS [Member]

Impact Of Deconsolidation And Calculation Of Net Gain Recognized On Deconsolidation

CPS
					May
					2020
Fair value of consideration received					$	-
Less: carrying value of CPS, comprising						(68)
	Cash and cash equivalents					328
	Accounts receivable, net					303
	Inventory					12
	Property, plant and equipment, net					236
	Goodwill (Note 11)					-
	Deferred income taxes assets (Note 19)					-
	Accounts payable					(238)
	Other payables					(33 160)
	Released from accumulated other comprehensive income – foreign currency translation reserve (Note 16)					32 451
		Loss recognized on deconsolidation, before tax				68
		Intercompany accounts written off/ provided for(1)				7 216
		Taxes related to loss recognized on deconsolidation, comprising:				-
			Capital loss generated upon deconsolidation(2)			5 399
			Valuation allowance related to capital losses generated upon deconsolidation(2)			(5 399)
				Loss recognized on deconsolidation, after tax	$	7 148

(1) Certain of the Company’s subsidiaries had funds due from CPS as of May 31, 2020. The Company has written these amounts off as it does not believe that they are recoverable.

(2) The Company recorded a deferred tax asset related to the capital loss generated on deconsolidation of CPS. The Company is only able to claim the capital loss for South African capital gains tax purposes once it deregisters or disposes of its interest in CPS. The Company has recorded a valuation allowance related to the full CPS capital loss deferred tax asset recognized because it does not believe that this capital loss will be utilized in the foreseeable future.