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Lesaka (LSAK)

Document And Entity Information

Document And Entity Information - shares3 Months Ended
Sep. 30, 2017Nov. 07, 2017
Document And Entity Information [Abstract]
Document Type10-Q
Amendment Flagfalse
Document Period End DateSep. 30,
2017
Document Fiscal Year Focus2,018
Document Fiscal Period FocusQ1
Entity Registrant NameNET 1 UEPS TECHNOLOGIES INC
Entity Central Index Key1,041,514
Current Fiscal Year End Date--06-30
Entity Filer CategoryAccelerated Filer
Trading Symbolueps
Entity Common Stock, Shares Outstanding56,927,696

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in ThousandsSep. 30, 2017Jun. 30, 2017[1]
CURRENT ASSETS
Cash and cash equivalents $ 138,359 $ 258,457
Pre-funded social welfare grants receivable (Note 2)3,457 2,322
Accounts receivable, net of allowances of - September: $1,158; June : $1,255115,652 111,429
Finance loans receivable, net of allowances of - September: $7,456; June: $7,469106,087 80,177
Inventory (Note 3)9,278 8,020
Deferred income taxes (Note 1) 5,330
Total current assets before settlement assets372,833 465,735
Settlement assets (Note 4)411,349 640,455
Total current assets784,182 1,106,190
PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation of - September: $122,138; June: $120,21234,060 39,411
EQUITY-ACCOUNTED INVESTMENTS (Note 6)97,802 27,862
GOODWILL (Note 7)186,539 188,833
INTANGIBLE ASSETS, net (Note 7)35,584 38,764
DEFERRED INCOME TAXES (Note 1)3,969
OTHER LONG-TERM ASSETS, including reinsurance assets (Note 6 and Note 8)201,166 49,696
TOTAL ASSETS1,343,302 1,450,756
CURRENT LIABILITIES
Short-term credit facilities (Note 9)45,737 16,579
Accounts payable14,004 15,136
Other payables38,028 34,799
Current portion of long-term borrowings (Note 10)59,371 8,738
Income taxes payable14,126 5,607
Total current liabilities before settlement obligations171,266 80,859
Settlement obligations (Note 4)411,349 640,455
Total current liabilities582,615 721,314
DEFERRED INCOME TAXES (Note 1)8,615 11,139
LONG-TERM BORROWINGS (Note 10)34,860 7,501
OTHER LONG-TERM LIABILITIES, including insurance policy liabilities (Note 8)2,965 2,795
TOTAL LIABILITIES629,055 742,749
COMMITMENTS AND CONTINGENCIES (Note 18)
EQUITY
COMMON STOCK (Note 11) Authorized: 200,000,000 with $0.001 par value; Issued and outstanding shares, net of treasury - September: 56,927,696; June: 56,369,73780 80
PREFERRED STOCK Authorized shares: 50,000,000 with $0.001 par value; Issued and outstanding shares, net of treasury: September: -; June: 2016: -
ADDITIONAL PAID-IN CAPITAL274,353 273,733
TREASURY SHARES, AT COST: September: 24,891,292; June: 24,891,292(286,951)(286,951)
ACCUMULATED OTHER COMPREHENSIVE LOSS (Note 12)(176,565)(162,569)
RETAINED EARNINGS792,759 773,276
TOTAL NET1 EQUITY603,676 597,569
REDEEMABLE COMMON STOCK107,672 107,672
NON-CONTROLLING INTEREST2,899 2,766
TOTAL EQUITY714,247 708,007
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 1,343,302 $ 1,450,756
[1]Derived from audited financial statements

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in ThousandsSep. 30, 2017Jun. 30, 2017
Condensed Consolidated Balance Sheets [Abstract]
Accounts receivable, allowances $ 1,158 $ 1,255
Finance loans receivable, allowances7,456 7,469
Property, plant and equipment, accumulated depreciation $ 122,138 $ 120,212
Common stock, shares authorized200,000,000 200,000,000
Common stock, par value $ 0.001 $ 0.001
Common stock, shares issued56,927,696 56,369,737
Common stock, shares outstanding56,927,696 56,369,737
Preferred stock, shares authorized50,000,000 50,000,000
Preferred stock, par value $ 0.001 $ 0.001
Preferred stock, shares issued
Preferred stock, shares outstanding
Treasury shares, shares outstanding24,891,292 24,891,292

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Operations - USD ($) $ in Thousands3 Months Ended
Sep. 30, 2017Sep. 30, 2016
Condensed Consolidated Statements Of Operations [Abstract]
REVENUE $ 152,558 $ 155,633
EXPENSE
Cost of goods sold, IT processing, servicing and support74,652 74,780
Selling, general and administration43,934 38,468
Depreciation and amortization8,966 10,204
OPERATING INCOME25,006 32,181
INTEREST INCOME5,044 4,304
INTEREST EXPENSE2,121 796
INCOME BEFORE INCOME TAX EXPENSE27,929 35,689
INCOME TAX EXPENSE (Note 17)10,277 11,103
NET INCOME BEFORE EARNINGS FROM EQUITY-ACCOUNTED INVESTMENTS17,652 24,586
EARNINGS FROM EQUITY-ACCOUNTED INVESTMENTS2,075 659
NET INCOME19,727 25,245
LESS: NET INCOME ATTRIBUTABLE TO NON-CONTROLLING INTEREST244 613
NET INCOME ATTRIBUTABLE TO NET1 $ 19,483 $ 24,632
Net income per share, in U.S. dollars (Note 14)
Basic earnings attributable to Net1 shareholders $ 0.34 $ 0.46
Diluted earnings attributable to Net1 shareholders $ 0.34 $ 0.46

Condensed Consolidated Stateme5

Condensed Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands3 Months Ended
Sep. 30, 2017Sep. 30, 2016
Condensed Consolidated Statements Of Comprehensive Income [Abstract]
Net income $ 19,727 $ 25,245
Other comprehensive (loss) income
Movement in foreign currency translation reserve(13,880)22,302
Movement in foreign currency translation reserve related to equity-accounted investments(227)
Total other comprehensive (loss) income, net of taxes(14,107)22,302
Comprehensive income5,620 47,547
Less comprehensive income attributable to non-controlling interest(133)(1,057)
Comprehensive income attributable to Net1 $ 5,487 $ 46,490

Condensed Consolidated Stateme6

Condensed Consolidated Statement Of Changes In Equity - 3 months ended Sep. 30, 2017 - USD ($)Common And Treasury Stock [Member]Treasury Stock [Member]Number Of Shares, Net Of Treasury [Member]Additional Paid-In Capital [Member]Retained Earnings [Member]Accumulated Other Comprehensive (Loss) Income [Member]Total Net1 Equity [Member]Redeemable Common Stock [Member]Non-Controlling Interest [Member]Total
Balance, Number of Shares at Jun. 30, 201781,261,029 (24,891,292)56,369,737
Balance at Jun. 30, 2017 $ 80,000 $ (286,951,000) $ 273,733,000 $ 773,276,000 $ (162,569,000) $ 597,569,000 $ 107,672,000 $ 2,766,000 $ 708,007,000 [1]
Restricted stock granted (Note 13), shares588,594 588,594
Stock-based compensation charge (Note 13)869,000 869,000 869,000
Reversal of stock compensation charge (Note 13) $ (30,635)(42,000)(42,000)(42,000)
Reversal of stock compensation charge (Note 13), shares(30,635)
Reversal of stock based-compensation charge related to equity-accounted investment(207,000)(207,000)(207,000)
Net income19,483,000 19,483,000 244,000 19,727,000
Other comprehensive income (Note 12)(13,996,000)(13,996,000)(111,000) $ (14,107,000)
Balance, Number of Shares at Sep. 30, 201781,818,988 (24,891,292)56,927,696 56,927,696
Balance at Sep. 30, 2017 $ 80,000 $ (286,951,000) $ 274,353,000 $ 792,759,000 $ (176,565,000) $ 603,676,000 $ 107,672,000 $ 2,899,000 $ 714,247,000
[1]Derived from audited financial statements

Condensed Consolidated Stateme7

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands3 Months Ended
Sep. 30, 2017Sep. 30, 2016
Cash flows from operating activities
Net income $ 19,727 $ 25,245
Depreciation and amortization8,966 10,204
Earnings from equity-accounted investments(2,075)(659)
Fair value adjustments91 (83)
Interest payable(88)32
Facility fee amortized133 36
Loss on disposal of property, plant and equipment105 66
Stock-based compensation charge (reversal), net (Note 13)827 (1,324)
Dividends received from equity accounted investments912 370
(Increase) Decrease in accounts receivable, pre-funded social welfare grants receivable and finance loans receivable(39,141)7,766
Increase in inventory(1,526)(104)
Increase in accounts payable and other payables3,429 3,040
Increase in taxes payable8,838 10,956
Decrease in deferred taxes(991)(1,632)
Net cash (used in) provided by operating activities(793)53,913
Cash flows from investing activities
Capital expenditures(1,473)(3,423)
Proceeds from disposal of property, plant and equipment316 69
Investment in Cell C (Note 6)(151,003)
Investment in equity of equity-accounted investments (Note 6)(72,846)
Investment in MobiKwik(15,347)
Net change in settlement assets212,649 (37,394)
Net cash used in investing activities(12,357)(56,095)
Cash flows from financing activities
Long-term borrowings utilized (Note 10)95,431 247
Repayment of long-term borrowings (Note 10)(14,260)(26,669)
Proceeds from bank overdraft (Note 9)31,880
Repayment of bank overdraft (Note 9)(2,952)
Payment of guarantee fee (Note 10)(552)
Acquisition of treasury stock (Note 11)(32,081)
Dividends paid to non-controlling interest(555)
Net change in settlement obligations(212,649)37,394
Net cash used in financing activities(103,102)(21,664)
Effect of exchange rate changes on cash(3,846)5,531
Net decrease in cash and cash equivalents(120,098)(18,315)
Cash and cash equivalents - beginning of period258,457 223,644
Cash and cash equivalents - end of period $ 138,359 $ 205,329

Basis Of Presentation And Summa

Basis Of Presentation And Summary Of Significant Accounting Policies3 Months Ended
Sep. 30, 2017
Description Of Business And Basis Of Presentation [Abstract]
Basis Of Presentation And Summary Of Significant Accounting Policies1. Basis of Presentation and Summary of Significant Accounting Policies
Unaudited Interim Financial Information
The accompanying unaudited condensed consolidated financial statements include all majority-owned subsidiaries over which the Company exercises control and have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") and the rules and regulations of the United States Securities and Exchange Commission for Quarterly Reports on Form 10-Q and include all of the information and disclosures required for interim financial reporting. The results of operations for the three months ended September 30, 2017 and 2016, are not necessarily indicative of the results for the full year. The Company believes that the disclosures are adequate to make the information presented not misleading.
These financial statements should be read in conjunction with the financial statements, accounting policies and financial notes thereto included in the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2016. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments (consisting only of normal recurring adjustments), which are necessary for a fair representation of financial results for the interim periods presented. References to the "Company" refer to Net1 and its consolidated subsidiaries, collectively, unless the context otherwise requires. References to "Net1" are references solely to Net 1 UEPS Technologies, Inc.
Recent accounting pronouncements adopted In August 2014, the FASB issued guidance regarding Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern . This guidance requires an entity to perform interim and annual assessments of its ability to continue as a going concern within one year of the date that its financial statements are issued. An entity must provide certain disclosures if conditions or events raise substantial doubt about the entity's ability to continue as a going concern. The guidance is effective for the Company beginning July 1, 2017. The adoption of this guidance did not have a material impact on the Company's financial statements disclosures. In July 2015, the FASB issued guidance regarding Simplifying the Measurement of Inventory . This guidance requires entities to measure most inventory "at the lower of cost and net realizable value," thereby simplifying the current guidance under which an entity must measure inventory at the lower of cost or market (market in this context is defined as one of three different measures). The guidance will not apply to inventories that are measured by using either the last-in, first-out ("LIFO") method or the retail inventory method ("RIM"). The guidance is effective for the Company beginning July 1, 2017. The adoption of this guidance did not have a material impact on the Company's financial statements. In November 2015, the FASB issued guidance regarding Balance Sheet Classification of Deferred Taxes . This guidance requires that deferred tax liabilities and assets are to be classified as non-current in a classified statement of financial position. The current requirement that deferred tax liabilities and assets of a tax-paying component of an entity be offset and presented as a single amount is not affected by the amendments in this update. This guidance is effective for the Company beginning July 1, 2017, and has been applied on a prospective basis. The adoption of this guidance has resulted in the reclassification of current deferred tax assets and liabilities as non-current deferred tax assets and liabilities in the unaudited condensed consolidated balance sheet as of September 30, 2017. Prior period current deferred tax assets have not been reclassified as non-current in the unaudited condensed consolidated balance sheet as of June 30, 2017. In March 2016, the FASB issued guidance regarding Improvements to Employee Share-Based Payment Accounting . The guidance simplifies several aspects of the accounting for employee share-based payment transactions for both public and nonpublic entities, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. This guidance is effective for the Company beginning July 1, 2017. The adoption of this guidance did not have a material impact on the Company's financial statements. The Company has elected to continue to estimate the number of forfeitures when an award is made.
Recent accounting pronouncements not yet adopted as of September 30, 2017 In May 2014, the FASB issued guidance regarding Revenue from Contracts with Customers . This guidance requires an entity to recognize revenue when a customer obtains control of promised goods or services in an amount that reflects the consideration to which the entity expects to receive in exchange for those goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The guidance was originally set to be effective for the Company beginning July 1, 2017, however in August 2015, the FASB issued guidance regarding Revenue from Contracts with Customers, Deferral of the Effective Date . This guidance defers the required implementation date specified in Revenue from Contracts with Customers to December 2017. Public companies may elect to adopt the standard along the original timeline. The guidance is effective for the Company beginning July 1, 2018. The Company expects that this guidance may have a material impact on its financial statements and is currently evaluating the impact of this guidance on its financial statements on adoption. In January 2016, the FASB issued guidance regarding Recognition and Measurement of Financial Assets and Financial Liabilities . The guidance primarily affects the accounting for equity investments, financial liabilities under the fair value option and the presentation and disclosure requirements for financial instruments. The guidance requires changes in the fair value of the Company's equity investments, with certain exceptions, to be recognized through net income rather than other comprehensive income. In addition, the guidance clarifies the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. This guidance is effective for the Company beginning July 1, 2018, and early adoption is not permitted, with certain exceptions. The amendments are required to be applied by means of a cumulative-effect adjustment on the balance sheet as of the beginning of the fiscal year of adoption. The Company is currently assessing the impact of this guidance on its financial statements disclosure. In February 2016, the FASB issued guidance regarding Leases . The guidance increases transparency and comparability among organizations by requiring the recognition of lease assets and lease liabilities on the balance sheet. The amendments to current lease guidance include the recognition of assets and liabilities by lessees for those leases currently classified as operating leases. The guidance also requires disclosures to meet the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. This guidance is effective for the Company beginning July 1, 2019. Early adoption is permitted. The Company expects that this guidance may have a material impact on its financial statements and is currently evaluating the impact of this guidance on its financial statements on adoption. In June 2016, the FASB issued guidance regarding Measurement of Credit Losses on Financial Instruments . The guidance replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. For trade and other receivables, loans, and other financial instruments, an entity is required to use a forward-looking expected loss model rather than the incurred loss model for recognizing credit losses, which reflects losses that are probable. Credit losses relating to available-for-sale debt securities will also be recorded through an allowance for credit losses rather than as a reduction in the amortized cost basis of the securities. This guidance is effective for the Company beginning July 1, 2020. Early adoption is permitted beginning July 1, 2019. The Company is currently assessing the impact of this guidance on its financial statements disclosure. In June 2016, the FASB issued guidance regarding Classification of Certain Cash Receipts and Cash Payments . The guidance is intended to reduce diversity in practice and explains how certain cash receipts and payments are presented and classified in the statement of cash flows, including beneficial interests in securitization, which would impact the presentation of the deferred purchase price from sales of receivables. This guidance is effective for the Company beginning July 1, 2018, and must be applied retrospectively. Early adoption is permitted. The Company is currently assessing the impact of this guidance on its financial statements disclosure. In January 2017, the FASB issued guidance regarding Clarifying the Definition of a Business. This guidance provides a more robust framework to use in determining when a set of assets and activities is a business. Because the current definition of a business is interpreted broadly and can be difficult to apply, stakeholders indicated that analyzing transactions is inefficient and costly and that the definition does not permit the use of reasonable judgment. The amendments provide more consistency in applying the guidance, reduce the costs of application, and make the definition of a business more operable. The guidance is effective for the Company beginning July 1, 2018. Early adoption is permitted. The Company is currently assessing the impact of this guidance on its financial statements disclosure. In January 2017, the FASB issued guidance regarding Simplifying the Test for Goodwill Impairment. This guidance removes the requirement for an entity to calculate the implied fair value of goodwill (as part of step 2 of the current goodwill impairment test) in measuring a goodwill impairment loss. The guidance is effective for the Company beginning July 1, 2020. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company is currently assessing the impact of this guidance. In May 2017, the FASB issued guidance regarding Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting. The guidance amends the scope of modification accounting for share-based payment arrangements and provides guidance on the types of changes to the terms or conditions of share-based payment awards to which an entity would be required to apply modification accounting under Accounting Standards Codification 718. Specifically, an entity would not apply modification accounting if the fair value, vesting conditions, and classification of the awards are the same immediately before and after the modification. The guidance is effective for the Company beginning July 1, 2018. Early adoption is permitted. The Company is currently assessing the impact of this guidance on its financial statements disclosure.

Pre-Funded Social Welfare Grant

Pre-Funded Social Welfare Grants Receivable3 Months Ended
Sep. 30, 2017
Pre-Funded Social Welfare Grants Receivable [Abstract]
Pre-Funded Social Welfare Grants Receivable 2. Pre-funded social welfare grants receivable Pre-funded social welfare grants receivable represents primarily amounts pre-funded by the Company to certain merchants participating in the merchant acquiring system. The October 2017 payment service commenced on October 1, 2017, but the Company pre-funded certain merchants participating in the merchant acquiring systems on the last day of September 2017. The July 2017 payment service commenced on July 1, 2017, but the Company pre-funded certain merchants participating in the merchant acquiring systems on the last day of June 2017.

Inventory

Inventory3 Months Ended
Sep. 30, 2017
Inventory [Abstract]
Inventory 3. Inventory The Company's inventory comprised the following category as of September 30, 2017 and June 30, 2017.
September 30, June 30, 2017 2017 Finished goods $ 9,278 $ 8,020 $ 9,278 $ 8,020

Settlement Assets And Settlemen

Settlement Assets And Settlement Obligations3 Months Ended
Sep. 30, 2017
Settlement Assets And Settlement Obligations [Abstract]
Settlement Assets And Settlement Obligations4 . Settlement assets and settlement obligations
Settlement assets comprise (1) cash received from the South African government that the Company holds pending disbursement to recipient cardholders of social welfare grants and (2) cash received from customers on whose behalf the Company processes payroll payments that the Company will disburse to customer employees, payroll-related payees and other payees designated by the customer. Settlement obligations comprise (1) amounts that the Company is obligated to disburse to recipient beneficiaries of social welfare grants, and (2) amounts that the Company is obligated to pay to customer employees, payroll-related payees and other payees designated by the customer.
The balances at each reporting date may vary widely depending on the timing of the receipts and payments of these assets and obligations.

Fair Value Of Financial Instrum

Fair Value Of Financial Instruments3 Months Ended
Sep. 30, 2017
Fair Value Of Financial Instruments [Abstract]
Fair Value Of Financial Instruments5. Fair value of financial instruments Fair value of financial instruments Initial recognition and measurement Financial instruments are recognized when the Company becomes a party to the transaction. Initial measurements are at cost, which includes transaction costs. Risk management The Company seeks to reduce its exposure to currencies other than the South African rand through a policy of matching, to the extent possible, assets and liabilities denominated in those currencies. In addition, the Company utilized financial instruments in order to economically hedge its exposure to exchange rate and interest rate fluctuations arising from its operations. The Company is also exposed to translation, interest rate, customer concentration, credit, and equity price and liquidity risks.
Currency exchange risk The Company is subject to currency exchange risk because it purchases inventories that it is required to settle in other currencies, primarily the euro and U.S. dollar. The Company has used forward contracts in order to limit its exposure in these transactions to fluctuations in exchange rates between the South African rand, on the one hand, and the U.S. dollar and the euro, on the other hand. Translation risk Translation risk relates to the risk that the Company's results of operations will vary significantly as the U.S. dollar is its reporting currency, but it earns most of its revenues and incurs most of its expenses in ZAR. The U.S. dollar to ZAR exchange rate has fluctuated significantly over the past three years. As exchange rates are outside the Company's control, there can be no assurance that future fluctuations will not adversely affect the Company's results of operations and financial condition.
Interest rate risk As a result of its normal borrowing and lending activities, the Company's operating results are exposed to fluctuations in interest rates, which it manages primarily through regular financing activities. The Company generally maintains limited investments in cash equivalents and has occasionally invested in marketable securities. Working capital finance customer concentration risk Working capital finance customer concentration risk relates to the risk of loss that the Company would incur as a result of its initial concentration of customers as it grows its working capital financing receivables base in Europe and the United States. During the year ended June 30, 2017, the Company commenced marketing activities to develop and expand its working capital financing receivables base. The Company manages the risk through on-going marketing efforts to further expand its customer base as well as through regular contact with its customer to assess their need for the Company's product. Credit risk Credit risk relates to the risk of loss that the Company would incur as a result of non-performance by counterparties. The Company maintains credit risk policies with regard to its counterparties to minimize overall credit risk. These policies include an evaluation of a potential counterparty's financial condition, credit rating, and other credit criteria and risk mitigation tools as the Company's management deems appropriate. With respect to credit risk on financial instruments, the Company maintains a policy of entering into such transactions only with South African and European financial institutions that have a credit rating of "BB+" (or its equivalent) or better, as determined by credit rating agencies such as Standard & Poor's, Moody's and Fitch Ratings. Microlending credit risk The Company is exposed to credit risk in its microlending activities, which provides unsecured short-term loans to qualifying customers. The Company manages this risk by performing an affordability test for each prospective customer and assigns a "creditworthiness score", which takes into account a variety of factors such as other debts and total expenditures on normal household and lifestyle expenses. Equity price and liquidity risk Equity price risk relates to the risk of loss that the Company would incur as a result of the volatility in the exchange-traded price of equity securities that it holds and the risk that it may not be able to liquidate these securities. The market price of these securities may fluctuate for a variety of reasons and, consequently, the amount that the Company may obtain in a subsequent sale of these securities may significantly differ from the reported market value. Liquidity risk relates to the risk of loss that the Company would incur as a result of the lack of liquidity on the exchange on which these securities are listed. The Company may not be able to sell some or all of these securities at one time, or over an extended period of time without influencing the exchange traded price, or at all.
Financial instruments The following section describes the valuation methodologies the Company uses to measure its significant financial assets and liabilities at fair value. In general, and where applicable, the Company uses quoted prices in active markets for identical assets or liabilities to determine fair value. This pricing methodology would apply to Level 1 investments. If quoted prices in active markets for identical assets or liabilities are not available to determine fair value, then the Company uses quoted prices for similar assets and liabilities or inputs other than the quoted prices that are observable either directly or indirectly. These investments would be included in Level 2 investments. In circumstances in which inputs are generally unobservable, values typically reflect management's estimates of assumptions that market participants would use in pricing the asset or liability. The fair values are therefore determined using model-based techniques that include option pricing models, discounted cash flow models, and similar techniques. Investments valued using such techniques are included in Level 3 investments. Derivative transactions - Foreign exchange contracts As part of the Company's risk management strategy, the Company enters into derivative transactions to mitigate exposures to foreign currencies using foreign exchange contracts. These foreign exchange contracts are over-the-counter derivative transactions. Substantially all of the Company's derivative exposures are with counterparties that have long-term credit ratings of "BBB+" (or equivalent) or better. The Company uses quoted prices in active markets for similar assets and liabilities to determine fair value (Level 2). The Company has no derivatives that require fair value measurement under Level 1 or 3 of the fair value hierarchy.
The Company had no The following table presents the Company's assets measured at fair value on a recurring basis as of September 30, 2017, according to the fair value hierarchy:
Quoted price in active Significant markets for other Significant identical observable unobservable assets inputs inputs (Level 1) (Level 2) (Level 3) Total Assets Related to insurance business: Cash and cash equivalents (included in other long-term assets) $ 599 $ - $- $ 599 Fixed maturity investments (included in cash and cash equivalents) 5,796 - - 5,796 Other - 37 - 37 Total assets at fair value $ 6,395 $ 37 $- $ 6,432 The following table presents the Company's assets measured at fair value on a recurring basis as of June 30, 2017, according to the fair value hierarchy:
Quoted Price in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs (Level 1) (Level 2) (Level 3) Total Assets Related to insurance business: Cash and cash equivalents (included in other long-term assets) $ 627 $ - $- $ 627 Fixed maturity investments (included in cash and cash equivalents) 5,160 - - 5,160 Other - 37 - 37 Total assets at fair value $ 5,787 $ 37 $- $ 5,824
There have been no 3 , 2017 and 2016, respectively. Assets and liabilities measured at fair value on a nonrecurring basis
The Company measures its assets at fair value on a nonrecurring basis when they are deemed to be other-than-temporarily impaired. The Company has no liabilities that are measured at fair value on a nonrecurring basis. The Company reviews the carrying values of its assets when events and circumstances warrant and considers all available evidence in evaluating when declines in fair value are other-than-temporary. The fair values of the Company's assets are determined using the best information available, and may include quoted market prices, market comparables, and discounted cash flow projections. An impairment charge is recorded when the cost of the assets exceeds its fair value and the excess is determined to be other-than-temporary. The Company has not recorded any impairment charges during the reporting periods presented herein.

Equity-Accounted Investments An

Equity-Accounted Investments And Other Long-Term Assets3 Months Ended
Sep. 30, 2017
Equity-Accounted Investments And Other Long-Term Assets [Abstract]
Equity-Accounted Investments And Other Long-Term Assets 6. Equity-accounted investments and other long-term assets Equity-accounted investments The Company's ownership percentage in its equity-accounted investments as of September 30, 2017 and June 30, 2017, was as follows:
September 30, June 30, 2017 2017 DNI-4PL (Pty) Ltd ("DNI") 45 % - Finbond Group Limited ("Finbond") 27 % 26 % KZ One Limited (formerly One Credit Limited) ("KZ One") 25 % 25 % SmartSwitch Namibia (Pty) Ltd ("SmartSwitch Namibia") 50 % 50 % Walletdoc Proprietary Limited ("Walletdoc") 20 % 20 %
On July 27, 2017, the Company subscribed for 44,999,999 45 945.0 72.0 360 26.5 no As of September 30, 2017, the Company owned 205,483,967 3.20 657.5 48.5 3.6 11.2 0.8 4,361,532 On October 7, 2016, the Company provided a loan of ZAR 139.2 10.0 12.00 1.3339 February 28, 2017 The Company has provided a credit facility of up to $ 10 2 Summarized below is the movement in equity-accounted investments during the three months ended September 30, 2017:
DNI Finbond KZ One Other (1 ) Total Investment in equity: Balance as of June 30, 2017 $ - $ 18,961 $ 5,945 $ 797 $ 25,703 Acquisition of shares 72,001 1,941 - - 73,942 Stock-based compensation - (207 ) - - (207 ) Comprehensive income (loss): 865 874 (54 ) 163 1,848 Other comprehensive loss - (227 ) - - (227 ) Equity accounted earnings (loss) 865 1,101 (54 ) 163 2,075 Share of net income (loss) 1,408 1,931 (54 ) 163 3,448 Amortization of acquired intangible assets (753 ) - - - (753 ) Deferred taxes on acquired intangible assets 210 - - - 210 Dilution resulting from corporate transactions - (830 ) - - (830 ) Dividends received (616 ) (1,096 ) - (296 ) (2,008 ) Foreign currency adjustment (2) (2,327 ) (767 ) (502 ) (33 ) (3,629 ) Balance as of September 30, 2017 $ 69,923 $ 19,706 $ 5,389 $ 631 $ 95,649 Investment in loans: Balance as of June 30, 2017 $ - $ - $ 2,000 $ 159 $ 2,159 Foreign currency adjustment (2) - - - (6 ) (6 ) Balance as of September 30, 2017 $ 0 $ 0 $ 2,000 $ 153 $ 2,153
Equity Loans Total Carrying amount as of: June 30, 2017 $ 25,703 $ 2,159 $ 27,862 September 30, 2017 $ 95,649 $ 2,153 $ 97,802 (1) Includes SmartSwitch Namibia and Walletdoc; (2) The foreign currency adjustment represents the effects of the fluctuations South African rand, Nigerian Naira and the Namibian dollar, and the U.S. dollar on the carrying value. Strategic investment Bank Frick On October 2, 2017, the Company acquired a 30 39.8 40.8 two 35 Bank Frick provides a complete suite of banking services, with one of its key strategic pillars being the provision of payment services and funding of financial technology opportunities. Bank Frick holds acquiring licenses from both Visa and MasterCard and operates a branch in London. The Company and Bank Frick have jointly identified several funding opportunities, including for the Company's working capital finance, card issuing and acquiring and transaction processing activities. The investment in Bank Frick has the potential to provide the Company with a stable, long term and strategic relationship with a fully licensed bank. The Company and Bank Frick have agreed that approximately $ 30 Other long-term assets Summarized below is the breakdown of other long-term assets as of September 30, 2017, and June 30, 2017:
September 30, June 30, 2017 2017 Investment in 15 $ 147,473 $ - Investment in 12 27,218 26,317 Total investments 174,691 26,317 Long-term portion of payments to agents in South Korea amortized over the contract period 20,413 17,290 Policy holder assets under investment contracts (Note 8) 599 627 Reinsurance assets under insurance contracts Note 8) 182 191 Other long-term assets 5,281 5,271 Total other long-term assets $ 201,166 $ 49,696 On August 2, 2017, the Company, through its subsidiary, Net1 Applied Technologies South Africa Proprietary Limited ("Net1 SA"), purchased 75,000,000 2.0 151.0 The Company has signed a subscription agreement with MobiKwik, which is India's largest independent mobile payments network, with over 55 1.5 40.0 24 15.0 10.6 13.5 90 12.0

Goodwill And Intangible Assets,

Goodwill And Intangible Assets, Net3 Months Ended
Sep. 30, 2017
Goodwill And Intangible Assets, Net [Abstract]
Goodwill And Intangible Assets, Net7. Goodwill and intangible assets, net Goodwill
Summarized below is the movement in the carrying value of goodwill for the three months ended September 30, 2017:
Accumulated Carrying Gross value impairment value Balance as of June 30, 2017 $ 188,833 $- $ 188,833 Foreign currency adjustment (1) (2,294 ) - (2,294 ) Balance as of September 30, 2017 $ 186,539 $- $ 186,539 (1) - Represents the effects of the fluctuations between the South African rand, euro and the Korean won, and the U.S. dollar on the carrying value.
Goodwill has been allocated to the Company's reportable segments as follows:
South Financial African International inclusion and transaction transaction applied Carrying processing processing technologies value Balance as of June 30, 2017 $ 23,131 $ 140,570 $ 25,132 $ 188,833 Foreign currency adjustment (1) (866 ) (703 ) (725 ) (2,294 ) Balance as of September 30, 2017 $ 22,265 $ 139,867 $ 24,407 $ 186,539 (1) - Represents the effects of the fluctuations between the South African rand, euro and the Korean won, and the U.S. dollar on the carrying value.
Carrying value and amortization of intangible assets Summarized below is the carrying value and accumulated amortization of the intangible assets as of September 30, 2017 and June 30, 2017 :
As of September 30, 2017 As of June 30, 2017 Gross Net Gross Net carrying Accumulated carrying carrying Accumulated carrying value amortization value value amortization value Finite-lived intangible assets: Customer relationships $ 98,124 ($ 67,181 ) $ 30,943 $ 99,209 $ (65,595 ) $ 33,614 Software and unpatented technology 32,834 (30,974 ) 1,860 33,273 (31,112 ) 2,161 FTS patent 2,825 (2,825 ) - 2,935 (2,935 ) - Exclusive licenses 4,506 (4,506 ) - 4,506 (4,506 ) - Trademarks 6,863 (4,884 ) 1,979 6,972 (4,759 ) 2,213 Total finite-lived intangible assets 145,152 (110,370 ) 34,782 146,895 (108,907 ) 37,988 Indefinite-lived intangible assets: Financial institution license 802 - 802 776 - 776 Total indefinite-lived intangible assets 802 - 802 776 - 776 Total intangible assets $ 145,954 $ (110,370 ) $ 35,584 $ 147,671 $ (108,907 ) $ 38,764
Aggregate amortization expense on the finite-lived intangible assets for the three months ended September 30, 2017 and 2016, was approximately $ 2.8 2.9 Future estimated annual amortization expense for the next five fiscal years and thereafter, assuming exchange rates that prevailed on September 30, 2017, is presented in the table below. Actual amortization expense in future periods could differ from this estimate as a result of acquisitions, changes in useful lives, exchange rate fluctuations and other relevant factors.
Fiscal 2018 $ 12,173 Fiscal 2019 10,728 Fiscal 2020 10,027 Fiscal 2021 4,350 Fiscal 2022 74 Thereafter 301 Total future estimated annual amortization expense $ 37,653

Reinsurance Assets And Policyho

Reinsurance Assets And Policyholder Liabilities Under Insurance And Investment Contracts3 Months Ended
Sep. 30, 2017
Reinsurance Assets And Policyholder Liabilities Under Insurance And Investment Contracts [Abstract]
Reinsurance Assets And Policyholder Liabilities Under Insurance And Investment Contracts8. Reinsurance assets and policyholder liabilities under insurance and investment contracts Reinsurance assets and policyholder liabilities under insurance contracts Summarized below is the movement in reinsurance assets and policyholder liabilities under insurance contracts during the three months ended September 30, 2017:
Reinsurance Insurance assets (1) contracts (2) Balance as of June 30, 2017 $ 191 $ (1,611 ) Increase in policyholder benefits under insurance contracts (556 ) (2,502 ) Claims and policyholders' benefits under insurance contracts. 555 2,421 Foreign currency adjustment (3) (8 ) 60 Balance as of September 30, 2017 $ 182 $ (1,632 )
(1) Included in other long-term assets.
(2) Included in other long-term liabilities. (3) Represents the effects of the fluctuations between the ZAR against the U.S. dollar.
The Company has agreements with reinsurance companies in order to limit its losses from large insurance contracts, however, if the reinsurer is unable to meet its obligations, the Company retains the liability. The Company determines its reserves for policy benefits under its life insurance products using a model which estimates claims incurred that have not been reported at the balance sheet date. This model includes best estimate assumptions of experience plus prescribed margins, as required in the markets in which these products are offered, namely South Africa. The best estimate assumptions include those assumptions related to mortality, morbidity and claim reporting delays, and the main assumptions used to calculate the reserve for policy benefits include (i) mortality and morbidity assumptions reflecting the company's most recent experience and (ii) claim reporting delays reflecting Company specific and industry experience. The values of matured guaranteed endowments were increased by late payment interest (net of the asset management fee and allowance for tax on investment income). Assets and policyholder liabilities under investment contracts
Summarized below is the movement in assets and policyholder liabilities under investment contracts during the three months ended September 30, 2017:
Investment Assets (1) contracts (2) Balance as of June 30, 2017 $ 627 $ (627 ) Decrease in policyholder benefits under investment contracts. (4 ) 4 Foreign currency adjustment (3) (24 ) 24 Balance as of September 30, 2017 $ 599 $ (599 )
(1) Included in other long-term assets. (2) Included in other long-term liabilities. (3) Represents the effects of the fluctuations between the ZAR against the U.S. dollar. The Company does not offer any investment products with guarantees related to capital or returns.

Short-Term Credit Facilities

Short-Term Credit Facilities3 Months Ended
Sep. 30, 2017
Short-Term Credit Facilities [Abstract]
Short-Term Credit Facilities9. Short-term credit facilities Summarized below are the Company's available short-term facilities and the amounts utilized as of September 30, 2017 and June 30, 2017, all amounts below were translated at the exchange rates applicable as of the date presented:
September 30, 2017 June 30, 2017 Available Utilized Available Utilized Europe: Bank Frick (1) $ 67,958 $ 45,737 $ 66,579 $ 16,579 South Africa: Nedbank Limited ("Nedbank" 29,400 9,519 30,600 10,000 Overdraft facility (1) 18,300 - 19,109 - Indirect and derivative facilities (Note 18) 11,100 9,519 11,491 10,000 (1) Utilized amount included in short-term facilities on the unaudited condensed consolidated balance sheets. The Company has obtained EUR 40.0 47.3 20 20.7 17.0 17.6 23.8 28.1 15.9 16.6 no As of September 30, 2017, the interest rate on these facilities was 5.00 The initial term of the EUR 40 million facility ends on December 31, 2019 12 six
South Africa The aggregate amount of the Company's short-term South African credit facility with Nedbank Limited ("Nedbank") was ZAR 400 29.4 200 14.7 200 14.7 50 3.6 150 11.1 As of September 30, 2017, the interest rate on the overdraft facility was 9.10 0.35 As of each of September 30, 2017 and June 30, 2017, respectively, the Company had not utilized any of its overdraft facility. As of September 30, 2017, the Company had utilized approximately ZAR 129.1 9.5 130.5 10.0

Long-Term Borrowings

Long-Term Borrowings3 Months Ended
Sep. 30, 2017
Long-Term Borrowings [Abstract]
Long-Term Borrowings 10. Long-term borrowings South Africa The Company's South African long-term facility agreement is described in Note 14 to the Company's audited consolidated financial statements included in its Annual Report on Form 10-K for the year ended June 30, 2017. As of September 30, 2017, $ 77.9 6.99 On July 26, 2017, the Company utilized ZAR 1.25 92.2 15 eight 13.8 The Company paid a non-refundable deal origination fee of approximately ZAR 6.3 0.6 1.7 0.1 South Korea The South Korean senior secured loan facility is described in Note 14 to the Company's audited consolidated financial statements included in its Annual Report on Form 10-K for the year ended June 30, 2017. As of September 30, 2017, $ 16.3 4.51 On July 29, 2017, the Company utilized approximately KRW 0.3 0.3 8.7 April 29, 2018 Interest expense incurred during the three months ended September 30, 2017 and 2016 was $ 0.2 0.5 0.03 0.04 0.1

Capital Structure

Capital Structure3 Months Ended
Sep. 30, 2017
Capital Structure [Abstract]
Capital Structure11. Capital structure
The following table presents reconciliation between the number of shares, net of treasury, presented in the unaudited condensed consolidated statement of changes in equity during the three months ended September 30, 2017 and 2016, respectively, and the number of shares, net of treasury, excluding non-vested equity shares that have not vested during the three months ended September 30, 2017 and 2016, respectively:
September 30, September 30, 2017 2016 Number of shares, net of treasury: Statement of changes in equity 56,927,696 52,521,345 Less: Non-vested equity shares that have not vested (Note 13) (1,007,182 ) (904,356 ) Number of shares, net of treasury excluding non-vested equity shares that have not vested 55,920,514 51,616,989
Common stock repurchases Executed under share repurchase authorizations The Company did no In February 2016, the Company's board of directors approved the replenishment of its share repurchase authorization to repurchase up to an aggregate of $ 100 50 1,328,699 12.7 .

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss3 Months Ended
Sep. 30, 2017
Accumulated Other Comprehensive Loss [Abstract]
Accumulated Other Comprehensive Loss12. Accumulated other comprehensive loss
The table below presents the change in accumulated other comprehensive (loss) income per component during the three months ended September 30, 2017:
Three months ended September 30, 2017 Accumulated net unrealized Accumulated income on foreign asset currency available for translation sale, net of reserve tax Total Balance as of June 30, 2017 $ (162,569 ) $ 0 $ (162,569 ) Movement in foreign currency translation reserve related to equity accounted investment (227 ) - (227 ) Movement in foreign currency translation reserve (13,769 ) - (13,769 ) Balance as of September 30, 2017 $ (176,565 ) $ 0 $ (176,565 )
There were no

Stock-Based Compensation

Stock-Based Compensation3 Months Ended
Sep. 30, 2017
Stock-Based Compensation [Abstract]
Stock-Based Compensation13. Stock-based compensation Stock option and restricted stock activity Options
The following table summarizes stock option activity for the three months ended September 30, 2017 and 2016:
Weighted Weighted average Weighted average remaining Aggregate average exercise contractual intrinsic grant date Number of price term value fair value shares ($) (in years) ($' ) ($) Outstanding – June 30, 2017 846,607 13.87 3.80 486 Forfeitures (37,333 ) 11.23 Outstanding – September 30, 2017 809,274 13.99 3.40 468 Outstanding – June 30, 2016 2,077,524 15.92 3.65 926 Expired unexercised (474,443 ) 22.51 Outstanding – September 30, 2016 1,603,081 13.98 4.50 452
No 37,333 no 474,443
The following table presents stock options vested and expecting to vest as of September 30, 2017:
Weighted Weighted average average remaining Aggregate exercise contractual intrinsic Number of price term value shares ($) (in years) ($' ) Vested and expecting to vest – September 30, 2017 809,274 13.99 3.40 468
These options have an exercise price range of $ 7.35 24.46
The following table presents stock options that are exercisable as of September 30, 2017:
Weighted Weighted average average remaining Aggregate exercise contractual intrinsic Number of price term value shares ($) (in years) ($' ) Exercisable – September 30, 2017 809,274 13.99 3.40 468
During the three months ended September 30, 2017 and 2016, respectively, 105,982 154,803 No
Restricted stock
The following table summarizes restricted stock activity for the three months ended September 30, 2017 and 2016:
Number of Weighted shares of average grant restricted date fair value stock ($' ) Non-vested – June 30, 2017 505,473 11,173 Granted – August 2017 588,594 4,288 Vested – August 2017 (56,250 ) 527 Forfeitures (30,635 ) 358 Non-vested – September 30, 2017 1,007,182 9,689 Non-vested – June 30, 2016 589,447 7,622 Granted – August 2016 387,000 4,145 Vested – August 2016 (72,091 ) 735 Non-vested – September 30, 2016 904,356 11,142
The August 2017 grants comprises (i) 326,000 210,000 52,594 350,000 37,000 The 326,000 shares of restricted stock will only vest if the recipient is employed by the Company on a full-time basis on August 23, 2020 August 23, 2018 Market Conditions - Restricted Stock Granted in August 2017 The 210,000 shares of restricted stock awarded to executive officers in August 2017 are subject to time-based and performance-based ( a market condition) vesting conditions and vest in full only on the date, if any, the following conditions are satisfied: (1 the price of the Company's common stock must equal or exceed certain agreed VWAP levels (as described below) during a measurement period commencing on the date that it files its Annual Report on Form 10-K for the fiscal year ended 2020 and ending on December 31, 2020 and (2) the recipient is employed by the Company on a full-time basis when the condition in (1) is met. If either of these conditions is not satisfied, then none of the shares of restricted stock will vest and they will be forfeited. The $ 23.00 35 9.38
Below $ 15.00 0 At or above $ 15.00 19.00 33 At or above $ 19.00 23.00 66 At or above $ 23.00 100 These 210,000 shares of restricted stock are effectively forward starting knock-in barrier options with multi-strike prices of zero In scenarios where the shares do not vest, the final vested value at maturity is zero. In scenarios where vesting occurs, the final vested value on maturity is the share price on vesting date. The value of the grant is the average of the discounted vested values. The Company used an expected volatility of 44.0 three 1.275 1.657 no 30 Performance Conditions - Restricted Stock Granted in August 2016 In August 2016 the Company awarded 350,000 200,000 150,000
One-third of the shares will vest if the Company achieves 2019 Fundamental EPS of $ 2.60 Two-thirds of the shares will vest if the Company achieves 2019 Fundamental EPS of $ 2.80 All of the shares will vest if the Company achieves 2019 Fundamental EPS of $ 3.00 At levels of 2019 Fundamental EPS greater than $ 2.60 3.00 2.80 Performance Conditions - Restricted Stock Granted in August 2015 In August 2015 the Company awarded 301,537
One-third of the shares will vest if the Company achieves 2018 Fundamental EPS of $ 2.88 Two-thirds of the shares will vest if the Company achieves 2018 Fundamental EPS of $ 3.30 All of the shares will vest if the Company achieves 2018 Fundamental EPS of $ 3.76 At levels of 2018 Fundamental EPS greater than $ 2.88 3.76 3.30 10 Vesting of all non-employee director shares issued prior to June 30, 2017 Grants of restricted stock to non-employee directors made during fiscal 2017, as well as those grants made in prior years, originally vested over a three one 61,995 The fair value of restricted stock vesting during the three months ended September 30, 2017 and 2016, respectively, was $ 0.5 0.7
Stock-based compensation charge and unrecognized compensation cost The Company recorded a stock-based compensation charge (reversal) during the three months ended September 30, 2017 and 2016 of $0.8 million and ($1.3 million), respectively, which comprised:
Allocated to cost of goods sold, IT Allocated to processing, selling, general Total servicing and and charge support administration Three months ended September 30, 2017 Stock-based compensation charge $ 869 - $ 869 Reversal of stock compensation charge related to stock options forfeited (42 ) - (42 ) Total – three months ended September 30, 2017. $ 827 $- $ 827 Three months ended September 30, 2016 Stock-based compensation charge $ 503 $- $ 503 Reversal of stock compensation charge related to restricted stock (1,827 ) - (1,827 ) Total – three months ended September 30, 2016. $ (1,324 ) $- $ (1,324 ) The stock-based compensation charges have been allocated to selling, general and administration based on the allocation of the cash compensation paid to the employees.
As of September 30, 2017, there was no 5.1 two 3.9 2.9 1.8 As of September 30, 2017 and June 30, 2017, the Company recorded a deferred tax asset of approximately $ 0.6 0.9

Earnings Per Share

Earnings Per Share3 Months Ended
Sep. 30, 2017
Earnings Per Share [Abstract]
Earnings Per Share14. Earnings per share
The Company has issued redeemable common stock which is redeemable at an amount other than fair value. Redemption of a class of common stock at other than fair value increases or decreases the carrying amount of the redeemable common stock and is reflected in basic earnings per share using the two-class method. There were no Basic earnings per share include shares of restricted stock that meet the definition of a participating security because these shares are eligible to receive non-forfeitable dividend equivalents at the same rate as common stock. Basic earnings per share have been calculated using the two-class method and basic earnings per share for the three months ended September 30, 2017 and 2016, reflects only undistributed earnings. The computation below of basic earnings per share excludes the net income attributable to shares of unvested restricted stock (participating non-vested restricted stock) from the numerator and excludes the dilutive impact of these unvested shares of restricted stock from the denominator. Diluted earnings per share have been calculated to give effect to the number of shares of additional common stock that would have been outstanding if the potential dilutive instruments had been issued in each period. Stock options are included in the calculation of diluted earnings per share utilizing the treasury stock method and are not considered to be participating securities, as the stock options do not contain non-forfeitable dividend rights. The calculation of diluted earnings per share includes the dilutive effect of a portion of the restricted stock granted to employees in August 2014, November 2014, August 2015, August 2016 and August 2017, as these shares of restricted stock are considered contingently returnable shares for the purposes of the diluted earnings per share calculation and the vesting conditions in respect of a portion of the restricted stock had been satisfied. The vesting conditions for awards made in August 2017, August 2016 and August 2015 are discussed in Note 13 and the vesting conditions for all other awards are discussed in Note 18 to the Company's audited consolidated financial statements included in its Annual Report on Form 10-K for the year ended June 30, 2017.
The following table presents net income attributable to Net1 (income from continuing operations) and the share data used in the basic and diluted earnings per share computations using the two-class method:
Three months ended September, 2017 2016 (in thousands except percent and per share data) Numerator: Net income attributable to Net1 $ 19,483 $ 24,632 Undistributed earnings 19,483 24,632 Percent allocated to common shareholders (Calculation 1) 99 % 99 % Numerator for earnings per share: basic and diluted $ 19,267 $ 24,276 Denominator: Denominator for basic earnings per share: weighted-average common shares outstanding 56,562 53,053 Effect of dilutive securities: Stock options 47 91 Denominator for diluted earnings per share: adjusted weighted average common shares outstanding and assumed conversion 56,609 53,144 Earnings per share: Basic $ 0.34 $ 0.46 Diluted $ 0.34 $ 0.46 (Calculation 1) Basic weighted-average common shares outstanding (A) 56,562 53,053 Basic weighted-average common shares outstanding and unvested restricted shares expected to vest (B) 57,196 53,832 Percent allocated to common shareholders (A) / (B) 99 % 99 %
Options to purchase 409,148 10.59 24.46

Supplemental Cash Flow Informat

Supplemental Cash Flow Information3 Months Ended
Sep. 30, 2017
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information15. Supplemental cash flow information The following table presents supplemental cash flow disclosures for the three months ended September 30, 2017 and 2016:
Three months ended September 30, 2017 2016 Cash received from interest $ 5,286 $ 4,285 Cash paid for interest $ 2,088 $ 1,076 Cash paid for income taxes $ 2,036 $ 1,503
Treasury shares, at cost included in the Company's condensed consolidated balance sheet as of June 30, 2016, includes 47,056 0.5

Operating Segments

Operating Segments3 Months Ended
Sep. 30, 2017
Operating Segments [Abstract]
Operating Segments16. Operating segments The Company discloses segment information as reflected in the management information systems reports that its chief operating decision maker uses in making decisions and to report certain entity-wide disclosures about products and services, major customers, and the countries in which the entity holds material assets or reports material revenues. A description of the Company's operating segments is contained in Note 23 to the Company's audited consolidated financial statements included in its Annual Report on Form 10-K for the year ended June 30, 2017.
The reconciliation of the reportable segments revenue to revenue from external customers for the three months ended September 30, 2017 and 2016, is as follows:
Revenue From Reportable Inter external Segment segment customers South African transaction processing $ 66,437 $ 6,145 $ 60,292 International transaction processing 46,022 - 46,022 Financial inclusion and applied technologies 54,313 8,069 46,244 Total for the three months ended September 30, 2017 166,772 14,214 152,558 South African transaction processing $ 57,568 $ 5,401 $ 52,167 International transaction processing 46,190 - 46,190 Financial inclusion and applied technologies 63,542 6,266 57,276 Total for the three months ended September 30, 2016 $ 167,300 $ 11,667 $ 155,633
The Company does not allocate interest income, interest expense or income tax expense to its reportable segments. The Company evaluates segment performance based on segment operating income before acquisition-related intangible asset amortization which represents operating income before acquisition-related intangible asset amortization and allocation of expenses allocated to Corporate/Eliminations, all under GAAP. The reconciliation of the reportable segments measure of profit or loss to income before income taxes for the three months ended September 30, 2017 and 2016, is as follows:
Three months ended September 30, 2017 2016 Reportable segments measure of profit or loss $ 31,568 $ 34,548 Operating income: Corporate/Eliminations (6,562 ) (2,367 ) Interest income 5,044 4,304 Interest expense (2,121 ) (796 ) Income before income taxes $ 27,929 $ 35,689
The following tables summarize segment information that is prepared in accordance with GAAP for the three months ended September 30, 2017 and 2016:
Three months ended September, 2017 2016 Revenues South African transaction processing $ 66,437 $ 57,568 International transaction processing 46,022 46,190 Financial inclusion and applied technologies 54,313 63,542 Total $ 166,772 $ 167,300 Operating income (loss) South African transaction processing 12,332 13,548 International transaction processing 5,316 5,817 Financial inclusion and applied technologies 13,920 15,183 Subtotal: Operating segments 31,568 34,548 Corporate/Eliminations (6,562 ) (2,367 ) Total 25,006 32,181 Depreciation and amortization South African transaction processing 1,153 1,157 International transaction processing 4,632 5,836 Financial inclusion and applied technologies 355 337 Subtotal: Operating segments 6,140 7,330 Corporate/Eliminations 2,826 2,874 Total 8,966 10,204 Expenditures for long-lived assets South African transaction processing 477 407 International transaction processing 906 2,799 Financial inclusion and applied technologies 90 217 Subtotal: Operating segments 1,473 3,423 Corporate/Eliminations - - Total $ 1,473 $ 3,423
The segment information as reviewed by the chief operating decision maker does not include a measure of segment assets per segment as all of the significant assets are used in the operations of all, rather than any one, of the segments. The Company does not have dedicated assets assigned to a particular operating segment. Accordingly, it is not meaningful to attempt an arbitrary allocation and segment asset allocation is therefore not presented. It is impractical to disclose revenues from external customers for each product and service or each group of similar products and services.

Income Taxes

Income Taxes3 Months Ended
Sep. 30, 2017
Income Taxes [Abstract]
Income Taxes17. Income tax Income tax in interim periods
For the purposes of interim financial reporting, the Company determines the appropriate income tax provision by first applying the effective tax rate expected to be applicable for the full fiscal year to ordinary income. This amount is then adjusted for the tax effect of significant unusual or extraordinary items, for instance, changes in tax law, valuation allowances and non-deductible transaction-related expenses that are reported separately, and have an impact on the tax charge. The cumulative effect of any change in the enacted tax rate, if and when applicable, on the opening balance of deferred tax assets and liabilities is also included in the tax charge as a discrete event in the interim period in which the enactment date occurs.
For the three months ended September 30, 2017, the tax charge was calculated using the expected effective tax rate for the year. The Company's effective tax rate for the three months ended September 30, 2017, was 36.8 For the three months ended September 30, 2016, the tax charge was calculated using the expected effective tax rate for the year. The Company's effective tax rate for the three months ended September 30, 2016, was 31.1 Uncertain tax positions
There were no 0.1 The Company does not expect changes related to its unrecognized tax benefits will have a significant impact on its results of operations or financial position in the next 12 months. As of September 30, 2017 and June 30, 2017, the Company had unrecognized tax benefits of $ 0.5 0.5

Commitments And Contingencies

Commitments And Contingencies3 Months Ended
Sep. 30, 2017
Commitments And Contingencies [Abstract]
Commitments And Contingencies18. Commitments and contingencies Guarantees
The South African Revenue Service and certain of the Company's customers, suppliers and other business partners have asked the Company to provide them with guarantees, including standby letters of credit, issued by a South African bank. The Company is required to procure these guarantees for these third parties to operate its business. Nedbank has issued guarantees to these third parties amounting to ZAR 129.1 9.5 129.1 9.5 0.4 2.0 The Company has not recognized any obligation related to these counter-guarantees in its consolidated balance sheet as of September 30, 2017. The maximum potential amount that the Company could pay under these guarantees is ZAR 129.1 9.5 As described in Note 9, Net1 has specifically provided guarantees to Bank Frick related to the EUR 40.0 million ($47.3 million) and CHF 20 million ($20.7 million) revolving overdraft facilities provided to Masterpayment. As of September 30, 2017, Masterpayment had utilized approximately $28.1 million of the EUR 40.0 million facility and $17.6 million of the CHF 20 million facility and these obligations are recorded as short-term facilities in the Company's consolidated balance sheet. The maximum potential amount that the Company could pay under the guarantees to Bank Frick was $ 45.7 Contingencies The Company is subject to a variety of insignificant claims and suits that arise from time to time in the ordinary course of business. Management currently believes that the resolution of these matters, individually or in the aggregate, will not have a material adverse impact on the Company's financial position, results of operations or cash flows.

Basis Of Presentation And Sum26

Basis Of Presentation And Summary Of Significant Accounting Policies (Policy)3 Months Ended
Sep. 30, 2017
Description Of Business And Basis Of Presentation [Abstract]
Unaudited Interim Financial InformationUnaudited Interim Financial Information
The accompanying unaudited condensed consolidated financial statements include all majority-owned subsidiaries over which the Company exercises control and have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") and the rules and regulations of the United States Securities and Exchange Commission for Quarterly Reports on Form 10-Q and include all of the information and disclosures required for interim financial reporting. The results of operations for the three months ended September 30, 2017 and 2016, are not necessarily indicative of the results for the full year. The Company believes that the disclosures are adequate to make the information presented not misleading.
These financial statements should be read in conjunction with the financial statements, accounting policies and financial notes thereto included in the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2016. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments (consisting only of normal recurring adjustments), which are necessary for a fair representation of financial results for the interim periods presented. References to the "Company" refer to Net1 and its consolidated subsidiaries, collectively, unless the context otherwise requires. References to "Net1" are references solely to Net 1 UEPS Technologies, Inc.
Recent Accounting Pronouncements AdoptedRecent accounting pronouncements adopted In August 2014, the FASB issued guidance regarding Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern . This guidance requires an entity to perform interim and annual assessments of its ability to continue as a going concern within one year of the date that its financial statements are issued. An entity must provide certain disclosures if conditions or events raise substantial doubt about the entity's ability to continue as a going concern. The guidance is effective for the Company beginning July 1, 2017. The adoption of this guidance did not have a material impact on the Company's financial statements disclosures. In July 2015, the FASB issued guidance regarding Simplifying the Measurement of Inventory . This guidance requires entities to measure most inventory "at the lower of cost and net realizable value," thereby simplifying the current guidance under which an entity must measure inventory at the lower of cost or market (market in this context is defined as one of three different measures). The guidance will not apply to inventories that are measured by using either the last-in, first-out ("LIFO") method or the retail inventory method ("RIM"). The guidance is effective for the Company beginning July 1, 2017. The adoption of this guidance did not have a material impact on the Company's financial statements. In November 2015, the FASB issued guidance regarding Balance Sheet Classification of Deferred Taxes . This guidance requires that deferred tax liabilities and assets are to be classified as non-current in a classified statement of financial position. The current requirement that deferred tax liabilities and assets of a tax-paying component of an entity be offset and presented as a single amount is not affected by the amendments in this update. This guidance is effective for the Company beginning July 1, 2017, and has been applied on a prospective basis. The adoption of this guidance has resulted in the reclassification of current deferred tax assets and liabilities as non-current deferred tax assets and liabilities in the unaudited condensed consolidated balance sheet as of September 30, 2017. Prior period current deferred tax assets have not been reclassified as non-current in the unaudited condensed consolidated balance sheet as of June 30, 2017. In March 2016, the FASB issued guidance regarding Improvements to Employee Share-Based Payment Accounting . The guidance simplifies several aspects of the accounting for employee share-based payment transactions for both public and nonpublic entities, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. This guidance is effective for the Company beginning July 1, 2017. The adoption of this guidance did not have a material impact on the Company's financial statements. The Company has elected to continue to estimate the number of forfeitures when an award is made.
Recent Accounting Pronouncements Not Yet Adopted As Of September 30, 2017Recent accounting pronouncements not yet adopted as of September 30, 2017 In May 2014, the FASB issued guidance regarding Revenue from Contracts with Customers . This guidance requires an entity to recognize revenue when a customer obtains control of promised goods or services in an amount that reflects the consideration to which the entity expects to receive in exchange for those goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The guidance was originally set to be effective for the Company beginning July 1, 2017, however in August 2015, the FASB issued guidance regarding Revenue from Contracts with Customers, Deferral of the Effective Date . This guidance defers the required implementation date specified in Revenue from Contracts with Customers to December 2017. Public companies may elect to adopt the standard along the original timeline. The guidance is effective for the Company beginning July 1, 2018. The Company expects that this guidance may have a material impact on its financial statements and is currently evaluating the impact of this guidance on its financial statements on adoption. In January 2016, the FASB issued guidance regarding Recognition and Measurement of Financial Assets and Financial Liabilities . The guidance primarily affects the accounting for equity investments, financial liabilities under the fair value option and the presentation and disclosure requirements for financial instruments. The guidance requires changes in the fair value of the Company's equity investments, with certain exceptions, to be recognized through net income rather than other comprehensive income. In addition, the guidance clarifies the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. This guidance is effective for the Company beginning July 1, 2018, and early adoption is not permitted, with certain exceptions. The amendments are required to be applied by means of a cumulative-effect adjustment on the balance sheet as of the beginning of the fiscal year of adoption. The Company is currently assessing the impact of this guidance on its financial statements disclosure. In February 2016, the FASB issued guidance regarding Leases . The guidance increases transparency and comparability among organizations by requiring the recognition of lease assets and lease liabilities on the balance sheet. The amendments to current lease guidance include the recognition of assets and liabilities by lessees for those leases currently classified as operating leases. The guidance also requires disclosures to meet the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. This guidance is effective for the Company beginning July 1, 2019. Early adoption is permitted. The Company expects that this guidance may have a material impact on its financial statements and is currently evaluating the impact of this guidance on its financial statements on adoption. In June 2016, the FASB issued guidance regarding Measurement of Credit Losses on Financial Instruments . The guidance replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. For trade and other receivables, loans, and other financial instruments, an entity is required to use a forward-looking expected loss model rather than the incurred loss model for recognizing credit losses, which reflects losses that are probable. Credit losses relating to available-for-sale debt securities will also be recorded through an allowance for credit losses rather than as a reduction in the amortized cost basis of the securities. This guidance is effective for the Company beginning July 1, 2020. Early adoption is permitted beginning July 1, 2019. The Company is currently assessing the impact of this guidance on its financial statements disclosure. In June 2016, the FASB issued guidance regarding Classification of Certain Cash Receipts and Cash Payments . The guidance is intended to reduce diversity in practice and explains how certain cash receipts and payments are presented and classified in the statement of cash flows, including beneficial interests in securitization, which would impact the presentation of the deferred purchase price from sales of receivables. This guidance is effective for the Company beginning July 1, 2018, and must be applied retrospectively. Early adoption is permitted. The Company is currently assessing the impact of this guidance on its financial statements disclosure. In January 2017, the FASB issued guidance regarding Clarifying the Definition of a Business. This guidance provides a more robust framework to use in determining when a set of assets and activities is a business. Because the current definition of a business is interpreted broadly and can be difficult to apply, stakeholders indicated that analyzing transactions is inefficient and costly and that the definition does not permit the use of reasonable judgment. The amendments provide more consistency in applying the guidance, reduce the costs of application, and make the definition of a business more operable. The guidance is effective for the Company beginning July 1, 2018. Early adoption is permitted. The Company is currently assessing the impact of this guidance on its financial statements disclosure. In January 2017, the FASB issued guidance regarding Simplifying the Test for Goodwill Impairment. This guidance removes the requirement for an entity to calculate the implied fair value of goodwill (as part of step 2 of the current goodwill impairment test) in measuring a goodwill impairment loss. The guidance is effective for the Company beginning July 1, 2020. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company is currently assessing the impact of this guidance. In May 2017, the FASB issued guidance regarding Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting. The guidance amends the scope of modification accounting for share-based payment arrangements and provides guidance on the types of changes to the terms or conditions of share-based payment awards to which an entity would be required to apply modification accounting under Accounting Standards Codification 718. Specifically, an entity would not apply modification accounting if the fair value, vesting conditions, and classification of the awards are the same immediately before and after the modification. The guidance is effective for the Company beginning July 1, 2018. Early adoption is permitted. The Company is currently assessing the impact of this guidance on its financial statements disclosure.

Inventory (Tables)

Inventory (Tables)3 Months Ended
Sep. 30, 2017
Inventory [Abstract]
Schedule Of InventorySeptember 30, June 30, 2017 2017 Finished goods $ 9,278 $ 8,020 $ 9,278 $ 8,020

Fair Value Of Financial Instr28

Fair Value Of Financial Instruments (Tables)3 Months Ended
Sep. 30, 2017
Fair Value Of Financial Instruments [Abstract]
Fair Value Of Assets And Liabilities Measured On Recurring Basis The following table presents the Company's assets measured at fair value on a recurring basis as of September 30, 2017, according to the fair value hierarchy:
Quoted price in active Significant markets for other Significant identical observable unobservable assets inputs inputs (Level 1) (Level 2) (Level 3) Total Assets Related to insurance business: Cash and cash equivalents (included in other long-term assets) $ 599 $ - $- $ 599 Fixed maturity investments (included in cash and cash equivalents) 5,796 - - 5,796 Other - 37 - 37 Total assets at fair value $ 6,395 $ 37 $- $ 6,432 The following table presents the Company's assets measured at fair value on a recurring basis as of June 30, 2017, according to the fair value hierarchy:
Quoted Price in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs (Level 1) (Level 2) (Level 3) Total Assets Related to insurance business: Cash and cash equivalents (included in other long-term assets) $ 627 $ - $- $ 627 Fixed maturity investments (included in cash and cash equivalents) 5,160 - - 5,160 Other - 37 - 37 Total assets at fair value $ 5,787 $ 37 $- $ 5,824

Equity-Accounted Investments 29

Equity-Accounted Investments And Other Long-Term Assets (Tables)3 Months Ended
Sep. 30, 2017
Equity-Accounted Investments And Other Long-Term Assets [Abstract]
Ownership Percentage Of Equity-Accounted InvestmentsSeptember 30, June 30, 2017 2017 DNI-4PL (Pty) Ltd ("DNI") 45 % - Finbond Group Limited ("Finbond") 27 % 26 % KZ One Limited (formerly One Credit Limited) ("KZ One") 25 % 25 % SmartSwitch Namibia (Pty) Ltd ("SmartSwitch Namibia") 50 % 50 % Walletdoc Proprietary Limited ("Walletdoc") 20 % 20 %
Summary Of Movement In Equity-Accounted InvestmentsDNI Finbond KZ One Other (1 ) Total Investment in equity: Balance as of June 30, 2017 $ - $ 18,961 $ 5,945 $ 797 $ 25,703 Acquisition of shares 72,001 1,941 - - 73,942 Stock-based compensation - (207 ) - - (207 ) Comprehensive income (loss): 865 874 (54 ) 163 1,848 Other comprehensive loss - (227 ) - - (227 ) Equity accounted earnings (loss) 865 1,101 (54 ) 163 2,075 Share of net income (loss) 1,408 1,931 (54 ) 163 3,448 Amortization of acquired intangible assets (753 ) - - - (753 ) Deferred taxes on acquired intangible assets 210 - - - 210 Dilution resulting from corporate transactions - (830 ) - - (830 ) Dividends received (616 ) (1,096 ) - (296 ) (2,008 ) Foreign currency adjustment (2) (2,327 ) (767 ) (502 ) (33 ) (3,629 ) Balance as of September 30, 2017 $ 69,923 $ 19,706 $ 5,389 $ 631 $ 95,649 Investment in loans: Balance as of June 30, 2017 $ - $ - $ 2,000 $ 159 $ 2,159 Foreign currency adjustment (2) - - - (6 ) (6 ) Balance as of September 30, 2017 $ 0 $ 0 $ 2,000 $ 153 $ 2,153
(1) Includes SmartSwitch Namibia and Walletdoc; (2) The foreign currency adjustment represents the effects of the fluctuations South African rand, Nigerian Naira and the Namibian dollar, and the U.S. dollar on the carrying value.
Carrying Amount Of Equity-Accounted InvestmentsEquity Loans Total Carrying amount as of: June 30, 2017 $ 25,703 $ 2,159 $ 27,862 September 30, 2017 $ 95,649 $ 2,153 $ 97,802
Summary Of Other Long-Term AssetSeptember 30, June 30, 2017 2017 Investment in 15 $ 147,473 $ - Investment in 12 27,218 26,317 Total investments 174,691 26,317 Long-term portion of payments to agents in South Korea amortized over the contract period 20,413 17,290 Policy holder assets under investment contracts (Note 8) 599 627 Reinsurance assets under insurance contracts Note 8) 182 191 Other long-term assets 5,281 5,271 Total other long-term assets $ 201,166 $ 49,696

Goodwill And Intangible Asset30

Goodwill And Intangible Assets, Net (Tables)3 Months Ended
Sep. 30, 2017
Goodwill And Intangible Assets, Net [Abstract]
Carrying Value Of GoodwillAccumulated Carrying Gross value impairment value Balance as of June 30, 2017 $ 188,833 $- $ 188,833 Foreign currency adjustment (1) (2,294 ) - (2,294 ) Balance as of September 30, 2017 $ 186,539 $- $ 186,539 (1) – Represents the effects of the fluctuations between the South African rand, euro and the Korean won, and the U.S. dollar on the carrying value.
Goodwill Allocated To Reportable SegmentsSouth Financial African International inclusion and transaction transaction applied Carrying processing processing technologies value Balance as of June 30, 2017 $ 23,131 $ 140,570 $ 25,132 $ 188,833 Foreign currency adjustment (1) (866 ) (703 ) (725 ) (2,294 ) Balance as of September 30, 2017 $ 22,265 $ 139,867 $ 24,407 $ 186,539 (1) - Represents the effects of the fluctuations between the South African rand, euro and the Korean won, and the U.S. dollar on the carrying value.
Carrying Value And Accumulated Amortization Of Intangible AssetsAs of September 30, 2017 As of June 30, 2017 Gross Net Gross Net carrying Accumulated carrying carrying Accumulated carrying value amortization value value amortization value Finite-lived intangible assets: Customer relationships $ 98,124 ($ 67,181 ) $ 30,943 $ 99,209 $ (65,595 ) $ 33,614 Software and unpatented technology 32,834 (30,974 ) 1,860 33,273 (31,112 ) 2,161 FTS patent 2,825 (2,825 ) - 2,935 (2,935 ) - Exclusive licenses 4,506 (4,506 ) - 4,506 (4,506 ) - Trademarks 6,863 (4,884 ) 1,979 6,972 (4,759 ) 2,213 Total finite-lived intangible assets 145,152 (110,370 ) 34,782 146,895 (108,907 ) 37,988 Indefinite-lived intangible assets: Financial institution license 802 - 802 776 - 776 Total indefinite-lived intangible assets 802 - 802 776 - 776 Total intangible assets $ 145,954 $ (110,370 ) $ 35,584 $ 147,671 $ (108,907 ) $ 38,764
Future Estimated Annual Amortization ExpenseFiscal 2018 $ 12,173 Fiscal 2019 10,728 Fiscal 2020 10,027 Fiscal 2021 4,350 Fiscal 2022 74 Thereafter 301 Total future estimated annual amortization expense $ 37,653

Reinsurance Assets And Policy31

Reinsurance Assets And Policyholder Liabilities Under Insurance And Investment Contracts (Tables)3 Months Ended
Sep. 30, 2017
Reinsurance Assets And Policyholder Liabilities Under Insurance And Investment Contracts [Abstract]
Summary Of The Movement In Reinsurance Assets And Policyholder Liabilities Under Insurance ContractsReinsurance Insurance assets (1) contracts (2) Balance as of June 30, 2017 $ 191 $ (1,611 ) Increase in policyholder benefits under insurance contracts (556 ) (2,502 ) Claims and policyholders' benefits under insurance contracts. 555 2,421 Foreign currency adjustment (3) (8 ) 60 Balance as of September 30, 2017 $ 182 $ (1,632 ) (1) Included in other long-term assets. (2) Included in other long-term liabilities. (3) Represents the effects of the fluctuations between the ZAR against the U.S. dollar
Summary Of Movement In Assets And Policyholder Liabilities Under Investment ContractsInvestment Assets (1) contracts (2) Balance as of June 30, 2017 $ 627 $ (627 ) Decrease in policyholder benefits under investment contracts. (4 ) 4 Foreign currency adjustment (3) (24 ) 24 Balance as of September 30, 2017 $ 599 $ (599 ) (1) Included in other long-term assets. (2) Included in other long-term liabilities. (3) Represents the effects of the fluctuations between the ZAR against the U.S. dollar.

Short-Term Credit Facilities (T

Short-Term Credit Facilities (Tables)3 Months Ended
Sep. 30, 2017
Short-Term Credit Facilities [Abstract]
Summary Of Short-Term Credit FacilitiesSeptember 30, 2017 June 30, 2017 Available Utilized Available Utilized Europe: Bank Frick (1) $ 67,958 $ 45,737 $ 66,579 $ 16,579 South Africa: Nedbank Limited ("Nedbank" 29,400 9,519 30,600 10,000 Overdraft facility (1) 18,300 - 19,109 - Indirect and derivative facilities (Note 18) 11,100 9,519 11,491 10,000 (1) Utilized amount included in short-term facilities on the unaudited condensed consolidated balance sheets.

Capital Structure (Tables)

Capital Structure (Tables)3 Months Ended
Sep. 30, 2017
Capital Structure [Abstract]
Number Of Shares, Net Of TreasurySeptember 30, September 30, 2017 2016 Number of shares, net of treasury: Statement of changes in equity 56,927,696 52,521,345 Less: Non-vested equity shares that have not vested (Note 13) (1,007,182 ) (904,356 ) Number of shares, net of treasury excluding non-vested equity shares that have not vested 55,920,514 51,616,989

Accumulated Other Comprehensi34

Accumulated Other Comprehensive Loss (Tables)3 Months Ended
Sep. 30, 2017
Accumulated Other Comprehensive Loss [Abstract]
Change In Accumulated Other Comprehensive (Loss) Income Per ComponentThree months ended September 30, 2017 Accumulated net unrealized Accumulated income on foreign asset currency available for translation sale, net of reserve tax Total Balance as of June 30, 2017 $ (162,569 ) $ 0 $ (162,569 ) Movement in foreign currency translation reserve related to equity accounted investment (227 ) - (227 ) Movement in foreign currency translation reserve (13,769 ) - (13,769 ) Balance as of September 30, 2017 $ (176,565 ) $ 0 $ (176,565 )

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)3 Months Ended
Sep. 30, 2017
Stock-Based Compensation [Abstract]
Summarized Stock Option ActivityWeighted Weighted average Weighted average remaining Aggregate average exercise contractual intrinsic grant date Number of price term value fair value shares ($) (in years) ($' ) ($) Outstanding – June 30, 2017 846,607 13.87 3.80 486 Forfeitures (37,333 ) 11.23 Outstanding – September 30, 2017 809,274 13.99 3.40 468 Outstanding – June 30, 2016 2,077,524 15.92 3.65 926 Expired unexercised (474,443 ) 22.51 Outstanding – September 30, 2016 1,603,081 13.98 4.50 452
Weighted Weighted average average remaining Aggregate exercise contractual intrinsic Number of price term value shares ($) (in years) ($' ) Vested and expecting to vest – September 30, 2017 809,274 13.99 3.40 468
Weighted Weighted average average remaining Aggregate exercise contractual intrinsic Number of price term value shares ($) (in years) ($' ) Exercisable – September 30, 2017 809,274 13.99 3.40 468
Restricted Stock ActivityNumber of Weighted shares of average grant restricted date fair value stock ($' ) Non-vested – June 30, 2017 505,473 11,173 Granted – August 2017 588,594 4,288 Vested – August 2017 (56,250 ) 527 Forfeitures (30,635 ) 358 Non-vested – September 30, 2017 1,007,182 9,689 Non-vested – June 30, 2016 589,447 7,622 Granted – August 2016 387,000 4,145 Vested – August 2016 (72,091 ) 735 Non-vested – September 30, 2016 904,356 11,142
Recorded Net Stock Compensation (Reversal) ChargeAllocated to cost of goods sold, IT Allocated to processing, selling, general Total servicing and and charge support administration Three months ended September 30, 2017 Stock-based compensation charge $ 869 - $ 869 Reversal of stock compensation charge related to stock options forfeited (42 ) - (42 ) Total – three months ended September 30, 2017. $ 827 $- $ 827 Three months ended September 30, 2016 Stock-based compensation charge $ 503 $- $ 503 Reversal of stock compensation charge related to restricted stock (1,827 ) - (1,827 ) Total – three months ended September 30, 2016. $ (1,324 ) $- $ (1,324 )

Earnings Per Share (Tables)

Earnings Per Share (Tables)3 Months Ended
Sep. 30, 2017
Earnings Per Share [Abstract]
Income From Continuing Operations And Share Data Used In Basic And Diluted Earnings Per Share ComputationsThree months ended September, 2017 2016 (in thousands except percent and per share data) Numerator: Net income attributable to Net1 $ 19,483 $ 24,632 Undistributed earnings 19,483 24,632 Percent allocated to common shareholders (Calculation 1) 99 % 99 % Numerator for earnings per share: basic and diluted $ 19,267 $ 24,276 Denominator: Denominator for basic earnings per share: weighted-average common shares outstanding 56,562 53,053 Effect of dilutive securities: Stock options 47 91 Denominator for diluted earnings per share: adjusted weighted average common shares outstanding and assumed conversion 56,609 53,144 Earnings per share: Basic $ 0.34 $ 0.46 Diluted $ 0.34 $ 0.46 (Calculation 1) Basic weighted-average common shares outstanding (A) 56,562 53,053 Basic weighted-average common shares outstanding and unvested restricted shares expected to vest (B) 57,196 53,832 Percent allocated to common shareholders (A) / (B) 99 % 99 %

Supplemental Cash Flow Inform37

Supplemental Cash Flow Information (Tables)3 Months Ended
Sep. 30, 2017
Supplemental Cash Flow Information [Abstract]
Schedule Of Supplemental Cash Flow DisclosuresThree months ended September 30, 2017 2016 Cash received from interest $ 5,286 $ 4,285 Cash paid for interest $ 2,088 $ 1,076 Cash paid for income taxes $ 2,036 $ 1,503

Operating Segments (Tables)

Operating Segments (Tables)3 Months Ended
Sep. 30, 2017
Operating Segments [Abstract]
Reconciliation Of Reportable Segments RevenueRevenue From Reportable Inter external Segment segment customers South African transaction processing $ 66,437 $ 6,145 $ 60,292 International transaction processing 46,022 - 46,022 Financial inclusion and applied technologies 54,313 8,069 46,244 Total for the three months ended September 30, 2017 166,772 14,214 152,558 South African transaction processing $ 57,568 $ 5,401 $ 52,167 International transaction processing 46,190 - 46,190 Financial inclusion and applied technologies 63,542 6,266 57,276 Total for the three months ended September 30, 2016 $ 167,300 $ 11,667 $ 155,633
Reconciliation Of Reportable Segments Measure Of Profit Or Loss To IncomeThree months ended September 30, 2017 2016 Reportable segments measure of profit or loss $ 31,568 $ 34,548 Operating income: Corporate/Eliminations (6,562 ) (2,367 ) Interest income 5,044 4,304 Interest expense (2,121 ) (796 ) Income before income taxes $ 27,929 $ 35,689
Summary Of Segment InformationThree months ended September, 2017 2016 Revenues South African transaction processing $ 66,437 $ 57,568 International transaction processing 46,022 46,190 Financial inclusion and applied technologies 54,313 63,542 Total $ 166,772 $ 167,300 Operating income (loss) South African transaction processing 12,332 13,548 International transaction processing 5,316 5,817 Financial inclusion and applied technologies 13,920 15,183 Subtotal: Operating segments 31,568 34,548 Corporate/Eliminations (6,562 ) (2,367 ) Total 25,006 32,181 Depreciation and amortization South African transaction processing 1,153 1,157 International transaction processing 4,632 5,836 Financial inclusion and applied technologies 355 337 Subtotal: Operating segments 6,140 7,330 Corporate/Eliminations 2,826 2,874 Total 8,966 10,204 Expenditures for long-lived assets South African transaction processing 477 407 International transaction processing 906 2,799 Financial inclusion and applied technologies 90 217 Subtotal: Operating segments 1,473 3,423 Corporate/Eliminations - - Total $ 1,473 $ 3,423

Inventory (Schedule Of Inventor

Inventory (Schedule Of Inventory) (Details) - USD ($) $ in ThousandsSep. 30, 2017Jun. 30, 2017
Inventory [Abstract]
Finished goods $ 9,278 $ 8,020
Inventory $ 9,278 $ 8,020 [1]
[1]Derived from audited financial statements

Fair Value Of Financial Instr40

Fair Value Of Financial Instruments (Narrative) (Details) $ in Thousands3 Months Ended
Sep. 30, 2017USD ($)contractSep. 30, 2016USD ($)Jun. 30, 2017contract
Derivatives, Fair Value [Line Items]
Years of significant fluctuation of US Dollar to ZAR exchange rate3 years
Transfers in or out of Level 3 $ 0 $ 0
Impairment charges $ 0
Foreign Exchange Contracts [Member]
Derivatives, Fair Value [Line Items]
Outstanding foreign exchange contracts | contract0 0

Fair Value Of Financial Instr41

Fair Value Of Financial Instruments (Fair Value Of Assets And Liabilities Measured On Recurring Basis) (Details) - USD ($) $ in ThousandsSep. 30, 2017Jun. 30, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents (included in other long-term assets) $ 599 $ 627
Fixed maturity investment (included in cash and cash equivalents)5,796 5,160
Other37 37
Total assets at fair value6,432 5,824
Quoted Price In Active Markets For Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents (included in other long-term assets)599 627
Fixed maturity investment (included in cash and cash equivalents)5,796 5,160
Total assets at fair value6,395 5,787
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other37 37
Total assets at fair value $ 37 $ 37

Equity-Accounted Investments 42

Equity-Accounted Investments And Other Long-Term Assets (Narrative) (Details) ZAR / shares in Units, $ in Thousands, item in Millions, customer in Millions, ZAR in Millions, SFr in MillionsOct. 02, 2017CHF (SFr)Oct. 02, 2017USD ($)Jul. 27, 2017ZARsharesJul. 17, 2017sharesJul. 13, 2017ZARsharesJul. 13, 2017USD ($)sharesAug. 31, 2017Jun. 30, 2017USD ($)Aug. 31, 2016USD ($)Sep. 30, 2017USD ($)customeritemOct. 07, 2017ZAROct. 07, 2017USD ($)Sep. 30, 2017ZARZAR / sharessharesSep. 30, 2017USD ($)sharesAug. 02, 2017ZARsharesAug. 02, 2017USD ($)sharesJul. 27, 2017USD ($)shares
Aggregate value of holding $ 27,862 [1] $ 97,802
Acquisition of shares value $ 73,942
KZ One [Member]
Acquisition of shares value
KZ One [Member] | Convertible Debt [Member]
Maximum borrowing capacity10,000
Outstanding amount $ 2,000 $ 2,000
Finbond [Member]
Maximum borrowing capacity ZAR 139.2 $ 10,000
Investment shares owned | shares205,483,967 205,483,967
Share Price | ZAR / shares ZAR 3.20
Aggregate value of holding ZAR 657.5 $ 48,500
Number of additional shares acquired | shares3,600,000 3,600,000
Acquisition of shares value $ 1,941
Shares received as a capitalization share issue in lieu of a dividend | shares4,361,532
Finbond [Member] | LIBOR [Member]
Debt Instrument, Basis Spread on Variable Rate1.3339%
Finbond [Member] | LIBOR Plus Margin [Member]
Debt Instrument, Basis Spread on Variable Rate12.00%
Finbond [Member] | Additional [Member]
Acquisition of shares value ZAR 11.2 $ 800
Bank Frick [Member]
Equity acquisition amount under purchase agreement $ 40,800
Bank Frick [Member] | Subsequent Event [Member]
Percentage of ownership interest under purchase agreement30.00%30.00%
Equity acquisition amount under purchase agreement | SFr SFr 39.8
Bank Frick [Member] | Two-Year Option to Acquire an Additional Interest [Member] | Subsequent Event [Member]
Percentage of ownership interest under purchase agreement35.00%35.00%
Period for option to acquire additional interest2 years2 years
Bank Frick [Member] | Agreement on Bank Frick Free Equity [Member] | Subsequent Event [Member]
Free equity to be utilized as seed capital for fund dedicated to a future activities $ 30,000
DNI [Member]
Ordinary A shares subscribed in strategic investments | shares44,999,999 44,999,999
Percentage of voting and economic interest under share subscription45.00%
Subscription of shares, value ZAR 945 0 $ 72,000
DNI [Member] | Additional Payment in Cash Subject to Achievement Of Certain Performance Targets [Member]
Subscription of shares, value ZAR 360 $ 26,500
MobiKwik [Member]
Percentage of ownership interest under purchase agreement13.50%
Premium percentage from issuance of additional shares to new shareholder90.00%
Percentage of ownership diluted12.00%
MobiKwik [Member] | Minimum [Member]
Number of users | customer55
Number of merchants | item1.5
Equity investment acquisition period24 months
MobiKwik [Member] | Maximum [Member]
Equity acquisition amount under purchase agreement $ 40,000
Subscription Agreement [Member] | MobiKwik [Member]
Equity acquisition amount under purchase agreement $ 10,600 $ 15,000
Subscription Agreement [Member] | Net1 SA [Member] | Cell C [Member]
Subscription of shares, value ZAR 2,000 $ 151,000,000
Subscription Agreement [Member] | Net1 SA [Member] | Cell C [Member] | Class A [Member]
Investment shares owned | shares75,000,000 75,000,000
[1]Derived from audited financial statements

Equity-Accounted Investments 43

Equity-Accounted Investments And Other Long-Term Assets (Ownership Percentage Of Equity-Accounted Investments) (Details)Sep. 30, 2017Jun. 30, 2017
DNI [Member]
Schedule of Equity Method Investments [Line Items]
Equity-accounted investments, ownership percentage45.00%
Finbond [Member]
Schedule of Equity Method Investments [Line Items]
Equity-accounted investments, ownership percentage27.00%26.00%
KZ One [Member]
Schedule of Equity Method Investments [Line Items]
Equity-accounted investments, ownership percentage25.00%25.00%
SmartSwitch Namibia [Member]
Schedule of Equity Method Investments [Line Items]
Equity-accounted investments, ownership percentage50.00%50.00%
Walletdoc [Member]
Schedule of Equity Method Investments [Line Items]
Equity-accounted investments, ownership percentage20.00%20.00%

Equity-Accounted Investments 44

Equity-Accounted Investments And Other Long-Term Assets (Summary Of Movement In Equity-Accounted Investments) (Details) $ in Thousands3 Months Ended
Sep. 30, 2017USD ($)
Investment in equity:
Balance as of, beginning $ 25,703
Acquisition of shares value73,942
Stock based-compensation(207)
Comprehensive income (loss):1,848
Other comprehensive loss(227)
Equity accounted earnings (loss)2,075
Share of net income (loss)3,448
Amortization of acquired intangible assets(753)
Deferred taxes on acquired intangible assets210
Dilution resulting from corporate transactions(830)
Dividends received(2,008)
Foreign currency adjustment(3,629)[1]
Balance as of, ending95,649
Investment in loans:
Balance as of, beginning2,159
Foreign currency adjustment(6)[1]
Balance as of, ending2,153
DNI [Member]
Investment in equity:
Balance as of, beginning
Acquisition of shares value72,001
Stock based-compensation
Comprehensive income (loss):865
Other comprehensive loss
Equity accounted earnings (loss)865
Share of net income (loss)1,408
Amortization of acquired intangible assets(753)
Deferred taxes on acquired intangible assets210
Dilution resulting from corporate transactions
Dividends received(616)
Foreign currency adjustment(2,327)[1]
Balance as of, ending69,923
Investment in loans:
Balance as of, beginning
Foreign currency adjustment [1]
Balance as of, ending
Finbond [Member]
Investment in equity:
Balance as of, beginning18,961
Acquisition of shares value1,941
Stock based-compensation(207)
Comprehensive income (loss):874
Other comprehensive loss(227)
Equity accounted earnings (loss)1,101
Share of net income (loss)1,931
Amortization of acquired intangible assets
Deferred taxes on acquired intangible assets
Dilution resulting from corporate transactions(830)
Dividends received(1,096)
Foreign currency adjustment(767)[1]
Balance as of, ending19,706
Investment in loans:
Balance as of, beginning
Foreign currency adjustment [1]
Balance as of, ending
KZ One [Member]
Investment in equity:
Balance as of, beginning5,945
Acquisition of shares value
Stock based-compensation
Comprehensive income (loss):(54)
Other comprehensive loss
Equity accounted earnings (loss)(54)
Share of net income (loss)(54)
Amortization of acquired intangible assets
Deferred taxes on acquired intangible assets
Dilution resulting from corporate transactions
Dividends received
Foreign currency adjustment(502)[1]
Balance as of, ending5,389
Investment in loans:
Balance as of, beginning2,000
Foreign currency adjustment [1]
Balance as of, ending2,000
Other [Member]
Investment in equity:
Balance as of, beginning797 [2]
Acquisition of shares value [2]
Stock based-compensation [2]
Comprehensive income (loss):163 [2]
Other comprehensive loss [2]
Equity accounted earnings (loss)163 [2]
Share of net income (loss)163 [2]
Amortization of acquired intangible assets [2]
Deferred taxes on acquired intangible assets [2]
Dilution resulting from corporate transactions [2]
Dividends received(296)[2]
Foreign currency adjustment(33)[1],[2]
Balance as of, ending631 [2]
Investment in loans:
Balance as of, beginning159 [2]
Foreign currency adjustment(6)[1],[2]
Balance as of, ending $ 153 [2]
[1]The foreign currency adjustment represents the effects of the fluctuations South African rand, Nigerian Naira and the Namibian dollar, and the U.S. dollar on the carrying value.
[2]Includes SmartSwitch Namibia and Walletdoc;

Equity-Accounted Investments 45

Equity-Accounted Investments And Other Long-Term Assets (Carrying Amount Of Equity-Accounted Investments) (Details) - USD ($) $ in ThousandsSep. 30, 2017Jun. 30, 2017
Equity-Accounted Investments And Other Long-Term Assets [Abstract]
Equity $ 95,649 $ 25,703
Loans2,153 2,159
Total $ 97,802 $ 27,862

Equity-Accounted Investments 46

Equity-Accounted Investments And Other Long-Term Assets (Summary Of Other Long-Term Asset) (Details) - USD ($) $ in ThousandsSep. 30, 2017Jun. 30, 2017
Total investments $ 174,691 $ 26,317
Long-term portion of payments to agents in South Korea amortized over the contract period20,413 17,290
Policy holder assets under investment contracts (Note 8)599 627
Reinsurance assets under insurance contracts (Note 8)182 191
Other long-term assets5,281 5,271
Total other long-term assets201,166 $ 49,696 [1]
Cell C [Member]
Total investments $ 147,473
Equity-accounted investments, ownership percentage15.00%15.00%
MobiKwik [Member]
Total investments $ 27,218 $ 26,317
Equity-accounted investments, ownership percentage12.00%12.00%
[1]Derived from audited financial statements

Goodwill And Intangible Asset47

Goodwill And Intangible Assets, Net (Narrative) (Details) - USD ($) $ in Millions3 Months Ended
Sep. 30, 2017Sep. 30, 2016
Goodwill And Intangible Assets, Net [Abstract]
Amortization expense $ 2.8 $ 2.9

Goodwill And Intangible Asset48

Goodwill And Intangible Assets, Net (Carrying Value Of Goodwill) (Details) $ in Thousands3 Months Ended
Sep. 30, 2017USD ($)
Goodwill And Intangible Assets, Net [Abstract]
Gross value, Beginning Balance $ 188,833
Gross value, Foreign currency adjustment(2,294)[1]
Gross value, Ending Balance186,539
Accumulated impairment, Beginning Balance
Accumulated impairment, Foreign currency adjustment [1]
Accumulated impairment, Ending Balance
Carrying value, Beginning Balance188,833 [2]
Carrying value, Foreign currency adjustment(2,294)[1]
Carrying value, Ending Balance $ 186,539
[1]Represents the effects of the fluctuations between the South African rand, euro and the Korean won, and the U.S. dollar on the carrying value.
[2]Derived from audited financial statements

Goodwill And Intangible Asset49

Goodwill And Intangible Assets, Net (Goodwill Allocated To Reportable Segments) (Details) $ in Thousands3 Months Ended
Sep. 30, 2017USD ($)
Goodwill [Line Items]
Carrying value, Beginning Balance $ 188,833 [1]
Carrying value, Foreign currency adjustment(2,294)[2]
Carrying value, Ending Balance186,539
South African Transaction Processing [Member]
Goodwill [Line Items]
Carrying value, Beginning Balance23,131
Carrying value, Foreign currency adjustment(866)[2]
Carrying value, Ending Balance22,265
International Transaction Processing [Member]
Goodwill [Line Items]
Carrying value, Beginning Balance140,570
Carrying value, Foreign currency adjustment(703)[2]
Carrying value, Ending Balance139,867
Financial Inclusion And Applied Technologies [Member]
Goodwill [Line Items]
Carrying value, Beginning Balance25,132
Carrying value, Foreign currency adjustment(725)[2]
Carrying value, Ending Balance $ 24,407
[1]Derived from audited financial statements
[2]Represents the effects of the fluctuations between the South African rand, euro and the Korean won, and the U.S. dollar on the carrying value.

Goodwill And Intangible Asset50

Goodwill And Intangible Assets, Net (Carrying Value And Accumulated Amortization Of Intangible Assets) (Details) - USD ($) $ in ThousandsSep. 30, 2017Jun. 30, 2017
Finite-Lived And Infinite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Gross carrying value $ 145,152 $ 146,895
Accumulated amortization(110,370)(108,907)
Finite-lived intangible assets, Net carrying value34,782 37,988
Infinite-lived intangible assets802 776
Total intangible assets, Gross carrying value145,954 147,671
Total intangible assets, Net carrying value35,584 38,764 [1]
Financial Institution License [Member]
Finite-Lived And Infinite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Net carrying value776
Infinite-lived intangible assets802 776
Customer Relationships [Member]
Finite-Lived And Infinite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Gross carrying value98,124 99,209
Accumulated amortization(67,181)(65,595)
Finite-lived intangible assets, Net carrying value30,943 33,614
Software And Unpatented Technology [Member]
Finite-Lived And Infinite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Gross carrying value32,834 33,273
Accumulated amortization(30,974)(31,112)
Finite-lived intangible assets, Net carrying value1,860 2,161
FTS Patent [Member]
Finite-Lived And Infinite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Gross carrying value2,825 2,935
Accumulated amortization(2,825)(2,935)
Exclusive Licenses [Member]
Finite-Lived And Infinite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Gross carrying value4,506 4,506
Accumulated amortization(4,506)(4,506)
Trademarks [Member]
Finite-Lived And Infinite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Gross carrying value6,863 6,972
Accumulated amortization(4,884)(4,759)
Finite-lived intangible assets, Net carrying value $ 1,979 $ 2,213
[1]Derived from audited financial statements

Goodwill And Intangible Asset51

Goodwill And Intangible Assets, Net (Future Estimated Annual Amortization Expense) (Details) $ in ThousandsSep. 30, 2017USD ($)
Goodwill And Intangible Assets, Net [Abstract]
Fiscal 2,018 $ 12,173
Fiscal 2,019 10,728
Fiscal 2,020 10,027
Fiscal 2,021 4,350
Fiscal 2,022 74
Thereafter301
Total future estimated annual amortization expense $ 37,653

Reinsurance Assets And Policy52

Reinsurance Assets And Policyholder Liabilities Under Insurance And Investment Contracts (Summary Of The Movement In Reinsurance Assets And Policy Holder Liabilities Under Insurance Contracts) (Details) $ in Thousands3 Months Ended
Sep. 30, 2017USD ($)
Reinsurance Assets And Policyholder Liabilities Under Insurance And Investment Contracts [Abstract]
Reinsurance assets, Beginning Balance $ 191 [1]
Reinsurance assets, Increase in policyholder benefits under insurance contracts(556)[1]
Reinsurance assets, Claims and policyholders' benefits under insurance contracts555 [1]
Reinsurance assets, Foreign currency adjustment(8)[1],[2]
Reinsurance assets, Ending Balance182 [1]
Insurance contracts, Beginning Balance(1,611)[3]
Insurance contracts, Increase in policyholder benefits under insurance contracts(2,502)[3]
Policyholder Benefits and Claims Incurred, Net2,421 [3]
Insurance contracts, Foreign currency adjustment60 [2],[3]
Insurance contracts, Ending Balance $ (1,632)[3]
[1]Included in other long-term assets.
[2]Represents the effects of the fluctuations between the ZAR against the U.S. dollar.
[3]Included in other long-term liabilities.

Reinsurance Assets And Policy53

Reinsurance Assets And Policyholder Liabilities Under Insurance And Investment Contracts (Summary Of Movement In Assets And Policy Holder Liabilities Under Investment Contracts) (Details) $ in Thousands3 Months Ended
Sep. 30, 2017USD ($)
Reinsurance Assets And Policyholder Liabilities Under Insurance And Investment Contracts [Abstract]
Assets, Beginning Balance $ 627 [1]
Assets, Decrease in policyholder benefits under investment contracts(4)[1]
Assets, Foreign currency adjustment(24)[1],[2]
Assets, Ending Balance599 [1]
Investment contracts, Beginning Balance(627)[3]
Investment contracts, Decrease in policy holder benefits under investment contracts4 [3]
Investment contracts, Foreign currency adjustment24 [2],[3]
Investment contracts, Ending Balance $ (599)[3]
[1]Included in other long-term assets.
[2]Represents the effects of the fluctuations between the ZAR against the U.S. dollar.
[3]Included in other long-term liabilities.

Short-Term Credit Facilities (N

Short-Term Credit Facilities (Narrative) (Details) $ in Thousands, € in Millions, ZAR in Millions, SFr in Millions3 Months Ended
Sep. 30, 2017EUR (€)Sep. 30, 2017CHF (SFr)Sep. 30, 2017ZARSep. 30, 2017USD ($)Jun. 30, 2017CHF (SFr)Jun. 30, 2017ZARJun. 30, 2017USD ($)
Short-term Debt [Line Items]
Amount utilized $ 45,737 $ 16,579 [1]
Bank Frick [Member] | Europe [Member]
Short-term Debt [Line Items]
Maximum borrowing capacity[2]67,958 66,579
Amount utilized[2]45,737 16,579
Nedbank Limited [Member] | South Africa [Member]
Short-term Debt [Line Items]
Maximum borrowing capacity29,400 30,600
Amount utilized9,519 10,000
South African Credit Facility [Member]
Short-term Debt [Line Items]
Maximum borrowing capacity ZAR 150 11,100
Amount utilized129.1 9,500 ZAR 130.5 10,000
South African Credit Facility [Member] | Nedbank Limited [Member]
Short-term Debt [Line Items]
Aggregate amount400 29,400
Primary amount, available immediately200 14,700
Secondary amount, not available immediately200 14,700
Overdraft Facility [Member]
Short-term Debt [Line Items]
Maximum borrowing capacity ZAR 50 $ 3,600
Interest rate9.10%9.10%9.10%9.10%
Commitment fee percentage0.35%
Overdraft Facility [Member] | South Africa [Member]
Short-term Debt [Line Items]
Maximum borrowing capacity[2] $ 18,300 19,109
Revolving Overdraft Facility [Member] | Bank Frick [Member] | Europe [Member]
Short-term Debt [Line Items]
Interest rate5.00%5.00%5.00%5.00%
Revolving Overdraft Facility One [Member] | Bank Frick [Member] | Europe [Member]
Short-term Debt [Line Items]
Maximum borrowing capacity € 40 $ 47,300
Amount utilized SFr 23.8 28,100 0
Expiration dateDec. 31,
2019
Termination written notice12 months
Revolving Overdraft Facility Two [Member] | Bank Frick [Member] | Europe [Member]
Short-term Debt [Line Items]
Maximum borrowing capacity20 20,700
Amount utilized SFr 17 17,600 SFr 15.9 16,600
Termination written notice6 months
Indirect And Derivative Facilities [Member] | South Africa [Member]
Short-term Debt [Line Items]
Maximum borrowing capacity11,100 11,491
Amount utilized $ 9,519 $ 10,000
[1]Derived from audited financial statements
[2]Utilized amount included in short-term facilities on the unaudited condensed consolidated balance sheets.

Short-Term Credit Facilities (S

Short-Term Credit Facilities (Summary Of Short-Term Credit Facilities) (Details) $ in Thousands, ZAR in MillionsSep. 30, 2017ZARSep. 30, 2017USD ($)Jun. 30, 2017USD ($)
Short-term facility utilized $ 45,737 $ 16,579 [1]
Overdraft Facility [Member]
Short-term facility available ZAR 50 3,600
South Africa [Member] | Overdraft Facility [Member]
Short-term facility available[2]18,300 19,109
South Africa [Member] | Indirect And Derivative Facilities [Member]
Short-term facility available11,100 11,491
Short-term facility utilized9,519 10,000
Bank Frick [Member] | Europe [Member]
Short-term facility available[2]67,958 66,579
Short-term facility utilized[2]45,737 16,579
Nedbank Limited [Member] | South Africa [Member]
Short-term facility available29,400 30,600
Short-term facility utilized $ 9,519 $ 10,000
[1]Derived from audited financial statements
[2]Utilized amount included in short-term facilities on the unaudited condensed consolidated balance sheets.

Long-Term Borrowings (Narrative

Long-Term Borrowings (Narrative) (Details) $ in Thousands, ZAR in Millions, ₩ in BillionsApr. 29, 2018USD ($)Dec. 29, 2017USD ($)Sep. 30, 2017USD ($)Sep. 29, 2017itemJul. 29, 2017KRW (₩)Jul. 29, 2017USD ($)Jul. 26, 2017ZARAug. 31, 2017ZARAug. 31, 2017USD ($)Sep. 30, 2017USD ($)Sep. 30, 2016USD ($)
South Africa [Member] | Facilities Agreement [Member]
Debt Instrument [Line Items]
Outstanding amount $ 77,900 $ 77,900
Facilities fees paid ZAR 6.3 $ 600
Interest expense1,700
Amortization of fees, prepaid facility100
South Africa [Member] | Cell C [Member]
Debt Instrument [Line Items]
Percentage acquired in acquisition15.00%
South Africa [Member] | Cell C [Member] | Facilities Agreement [Member]
Debt Instrument [Line Items]
Amount utilized from revolving credit facility92,200 ZAR 1,250
Number of quarter installments | item8
South Africa [Member] | Cell C [Member] | Facilities Agreement [Member] | Forecast [Member]
Debt Instrument [Line Items]
Scheduled principal payment $ 13,800
South Africa [Member] | JIBAR [Member] | Facilities Agreement [Member] | Forecast [Member]
Debt Instrument [Line Items]
Interest rate6.99%
South Korea [Member]
Debt Instrument [Line Items]
Interest expense200 $ 500
Amortization of fees, prepaid facility30 $ 40
Unamortizated prepaid facility fees100 100
South Korea [Member] | Facility C [Member]
Debt Instrument [Line Items]
Amount utilized from revolving credit facility ₩ 0.3 $ 300
South Korea [Member] | Facility C [Member] | Forecast [Member]
Debt Instrument [Line Items]
Repayment of facilities $ 8,700
South Korea [Member] | Korean Senior Secured Loan Facility [Member]
Debt Instrument [Line Items]
Long-term borrowings $ 16,300 $ 16,300
Interest rate on credit facility4.51%4.51%

Capital Structure (Narrative) (

Capital Structure (Narrative) (Details) - USD ($) $ in MillionsJun. 29, 2016Feb. 29, 2016Sep. 30, 2017Sep. 30, 2016
Common stock repurchased, shares0 1,328,699
Purchase price of common stock $ 12.7
Maximum [Member]
Stock repurchased, value $ 100
10b5 Plan [Member]
Stock repurchased, value $ 50

Capital Structure (Schedule Of

Capital Structure (Schedule Of Number Of Shares, Net Of Treasury) (Details) - sharesSep. 30, 2017Sep. 30, 2016
Capital Structure [Abstract]
Number of shares, net of treasury: Statement of changes in equity56,927,696 52,521,345
Less: Non-vested equity shares that have not vested (Note 13)(1,007,182)(904,356)
Number of shares, net of treasury excluding non-vested equity shares that have not vested55,920,514 51,616,989

Accumulated Other Comprehensi59

Accumulated Other Comprehensive Loss (Narrative) (Details) - USD ($) $ in Thousands3 Months Ended
Sep. 30, 2017Sep. 30, 2016
Accumulated Other Comprehensive Loss [Abstract]
Reclassification from accumulated other comprehensive (loss) income $ 0 $ 0

Accumulated Other Comprehensi60

Accumulated Other Comprehensive Loss (Change In Accumulated Other Comprehensive (Loss) Income Per Component) (Details) $ in Thousands3 Months Ended
Sep. 30, 2017USD ($)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance $ (162,569)[1]
Movement in foreign currency translation reserve related to equity accounted investment(227)
Movement in foreign currency translation reserve(13,769)
Ending Balance(176,565)
Accumulated Foreign Currency Translation Reserve [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance(162,569)
Movement in foreign currency translation reserve related to equity accounted investment(227)
Movement in foreign currency translation reserve(13,769)
Ending Balance(176,565)
Accumulated Net Unrealized Income (Loss) On Asset Available For Sale, Net Of Tax [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance
Movement in foreign currency translation reserve related to equity accounted investment
Movement in foreign currency translation reserve
Ending Balance
[1]Derived from audited financial statements

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in ThousandsAug. 23, 2017Jun. 30, 2017Aug. 31, 2017May 31, 2017Aug. 31, 2016May 31, 2016Aug. 31, 2015Sep. 30, 2017Sep. 30, 2016Jun. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expired unexercised, number of shares474,443
Exercisable stock options105,982 154,803
Stock-based compensation charge (reversal), net $ 827 $ (1,324)
Number of shares, forfeitures37,333
Number of shares, exercised0 0
Deferred tax asset $ 900 $ 600 $ 900
Common stock, shares issued56,369,737 56,927,696 56,369,737
Options exercise price range, lower limit $ 7.35
Options exercise price range, upper limit24.46
August 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance target, per share $ 23
Percentage of increase target price35.00%
Closing price, per share $ 9.38
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expired unexercised, number of shares474,443
Granted, Number of shares0 0
Unrecognized compensation cost $ 0
Stock Options [Member] | Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, forfeitures37,333 0
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, Number of shares588,594 387,000
Fair value of restricted stock vested $ 500 $ 700
Unrecognized compensation cost5,100
Cumulative unrecorded stock-based compensation charge2,900
Cumulative unrecorded stock-based compensation charge, reversal $ 1,800
Unrecognized compensation cost, expected recognition period, years2 years
Vested number of shares of restricted stock56,250 72,091
Restricted Stock [Member] | August 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility44.00%
Expected life (in years)3 years
Future dividends $ 0
Expected volatility calculation term30 days
Strike price $ 0
Restricted Stock [Member] | August 2017 [Member] | Below $15 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance target, per share $ 15
Vesting percentage0.00%
Restricted Stock [Member] | August 2017 [Member] | At or above $15 and below $19 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage33.00%
Restricted Stock [Member] | August 2017 [Member] | At or above $19 and below $23 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage66.00%
Restricted Stock [Member] | August 2017 [Member] | At or above $23 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance target, per share $ 23
Vesting percentage100.00%
Restricted Stock [Member] | August 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, Number of shares150,000
Restricted Stock [Member] | Executive Officer [Member] | August 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, Number of shares210,000
Restricted Stock [Member] | Executive Officer [Member] | August 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, Number of shares350,000
Restricted Stock [Member] | Non-Employee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period3 years
Vested number of shares of restricted stock61,995
Restricted Stock [Member] | Non-Employee Directors [Member] | August 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, Number of shares52,594
Restricted Stock [Member] | Non-Employee Directors [Member] | August 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, Number of shares37,000
Restricted Stock [Member] | Executive Officers And Employees [Member] | August 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, Number of shares326,000
Restricted Stock [Member] | Employees [Member] | August 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, Number of shares301,537
Restricted Stock [Member] | Former Chief Executive Officer [Member] | August 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, Number of shares200,000
Restricted Stock [Member] | One-Third Shares Vest 2019 Fundamental EPS [Member] | August 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fundamental EPS, to be achieved $ 2.60
Restricted Stock [Member] | Two-Thirds Shares Vest 2019 Fundamental EPS [Member] | August 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fundamental EPS, to be achieved2.80
Restricted Stock [Member] | All Shares Vest 2019 Fundamental EPS [Member] | August 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fundamental EPS, to be achieved3
Restricted Stock [Member] | One-Third Shares Vest 2018 Fundamental EPS [Member] | August 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fundamental EPS, to be achieved2.88
Restricted Stock [Member] | Two-Thirds Shares Vest 2018 Fundamental EPS [Member] | August 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fundamental EPS, to be achieved3.30
Restricted Stock [Member] | All Shares Vest 2018 Fundamental EPS [Member] | August 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fundamental EPS, to be achieved $ 3.76
Restricted Stock [Member] | Full Time Basis [Member] | Executive Officers And Employees [Member] | August 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting dateAug. 23,
2020
Restricted Stock [Member] | Recipient Is A Director [Member] | Non-Employee Directors [Member] | August 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting dateAug. 23,
2018
Restricted Stock [Member] | Amended [Member] | Non-Employee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period1 year
2019 Fundamental EPS [Member] | August 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fundamental EPS, linear interpolation $ 2.80
2018 Fundamental EPS [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common stock shares that will impact fundamental EPS calculation10,000,000
Unrecognized compensation cost $ 3,900
2018 Fundamental EPS [Member] | August 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fundamental EPS, linear interpolation $ 3.30
Minimum [Member] | Restricted Stock [Member] | August 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free rate1.275%
Minimum [Member] | Restricted Stock [Member] | August 2017 [Member] | At or above $15 and below $19 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance target, per share $ 15
Minimum [Member] | Restricted Stock [Member] | August 2017 [Member] | At or above $19 and below $23 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance target, per share19
Minimum [Member] | 2019 Fundamental EPS [Member] | August 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fundamental EPS2.60
Minimum [Member] | 2018 Fundamental EPS [Member] | August 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fundamental EPS $ 2.88
Maximum [Member] | Restricted Stock [Member] | August 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free rate1.657%
Maximum [Member] | Restricted Stock [Member] | August 2017 [Member] | At or above $15 and below $19 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance target, per share $ 19
Maximum [Member] | Restricted Stock [Member] | August 2017 [Member] | At or above $19 and below $23 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance target, per share23
Maximum [Member] | 2019 Fundamental EPS [Member] | August 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fundamental EPS3
Maximum [Member] | 2018 Fundamental EPS [Member] | August 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fundamental EPS $ 3.76

Stock-Based Compensation (Summa

Stock-Based Compensation (Summarized Stock Option Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands3 Months Ended12 Months Ended
Sep. 30, 2017Sep. 30, 2016Jun. 30, 2017Jun. 30, 2016
Stock-Based Compensation [Abstract]
Outstanding, Number of shares, Beginning Balance846,607 2,077,524 2,077,524
Expired unexercised, Number of shares(474,443)
Forfeitures, Number of shares(37,333)
Outstanding, Number of shares, Ending Balance809,274 1,603,081 846,607 2,077,524
Exercisable, Number of Shares809,274
Vested and expecting to vest, Number of shares809,274
Outstanding, Weighted average exercise price, Beginning Balance $ 13.87 $ 15.92 $ 15.92
Expired unexercised, Weighted average exercise price22.51
Forfeitures, Weighted average exercise price11.23
Outstanding, Weighted average exercise price, Ending Balance13.99 $ 13.98 $ 13.87 $ 15.92
Exercisable, Weighted average exercise price13.99
Vested and expecting to vest, Weighted average exercise price $ 13.99
Outstanding, Weighted average remaining contractual term (in years)3 years 4 months 24 days4 years 6 months3 years 9 months 18 days3 years 7 months 24 days
Exercisable, Weighted average remaining contractual term (in years)3 years 4 months 24 days
Vested and expecting to vest, Weighted average remaining contractual term (in years)3 years 4 months 24 days
Outstanding, Aggregate intrinsic value, Beginning Balance $ 486 $ 926 $ 926
Outstanding, Aggregate intrinsic value, Ending Balance468 $ 452 $ 486 $ 926
Vested and expecting to vest, Aggregate intrinsic value468
Exercisable, Aggregate intrinsic value $ 468

Stock-Based Compensation (Restr

Stock-Based Compensation (Restricted Stock Activity) (Details) - USD ($) $ in Thousands1 Months Ended3 Months Ended
Aug. 31, 2017Aug. 31, 2016Sep. 30, 2017Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested, Number of Shares of Restricted Stock, Ending Balance1,007,182 904,356
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested, Number of Shares of Restricted Stock, Beginning Balance505,473 589,447
Granted, Number of Shares of Restricted Stock588,594 387,000
Vested, Number of Shares of Restricted Stock(56,250)(72,091)
Forfeitures, Number of Shares of Restricted Stock(30,635)
Non-vested, Number of Shares of Restricted Stock, Ending Balance1,007,182 904,356
Non-vested, Weighted Average Grant Date Fair Value, Beginning Balance $ 11,173 $ 7,622
Granted, Weighted Average Grant Date Fair Value $ 4,288 $ 4,145
Vested, Weighted Average Grant Date Fair Value $ 527 $ 735
Forfeitures, Weighted Average Grant Date Fair Value358
Non-vested, Weighted Average Grant Date Fair Value, Ending Balance $ 9,689 $ 11,142

Stock-Based Compensation (Recor

Stock-Based Compensation (Recorded Net Stock Compensation Charge) (Details) - USD ($) $ in Thousands3 Months Ended
Sep. 30, 2017Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation charge $ 869 $ 503
Reversal of stock compensation charge related to options forfeited(42)
Reversal of stock compensation charge related to restricted stock forfeited(1,827)
Total827 (1,324)
Allocated To Cost Of Goods Sold, IT Processing, Servicing And Support [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation charge
Reversal of stock compensation charge related to options forfeited
Reversal of stock compensation charge related to restricted stock forfeited
Total
Allocated To Selling, General And Administration [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation charge869 503
Reversal of stock compensation charge related to options forfeited(42)
Reversal of stock compensation charge related to restricted stock forfeited(1,827)
Total $ 827 $ (1,324)

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands3 Months Ended
Sep. 30, 2017Sep. 30, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Redemptions or adjustments to the carrying value of redeemable common stock $ 0 $ 0
Options exercise price range, lower limit $ 7.35
Options exercise price range, upper limit $ 24.46
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Options outstanding not included in computation of diluted earnings per share409,148
Options exercise price range, lower limit $ 10.59
Options exercise price range, upper limit $ 24.46

Earnings Per Share (Income From

Earnings Per Share (Income From Continuing Operations And Share Data Used In Basic And Diluted Earnings Per Share Computations) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands3 Months Ended
Sep. 30, 2017Sep. 30, 2016
Earnings Per Share [Abstract]
Net income attributable to Net1 $ 19,483 $ 24,632
Undistributed earnings $ 19,483 $ 24,632
Percent allocated to common shareholders99.00%99.00%
Numerator for earnings per share: basic and diluted $ 19,267 $ 24,276
Denominator for basic earnings per share: weighted-average common shares outstanding56,562 53,053
Effect of dilutive securities: Stock options47 91
Denominator for diluted earnings per share: adjusted weighted average common shares outstanding and assumed conversion56,609 53,144
Earnings per share: Basic $ 0.34 $ 0.46
Earnings per share: Diluted $ 0.34 $ 0.46
Basic weighted-average common shares outstanding (A)56,562 53,053
Basic weighted-average common shares outstanding and unvested restricted shares expected to vest (B)57,196 53,832

Supplemental Cash Flow Inform67

Supplemental Cash Flow Information (Narrative) (Details) $ in MillionsJun. 30, 2016USD ($)shares
Supplemental Cash Flow Information [Abstract]
Treasury shares, acquired | shares47,056
Treasury shares, cost | $ $ 0.5

Supplemental Cash Flow Inform68

Supplemental Cash Flow Information (Schedule Of Supplemental Cash Flow Disclosures) (Details) - USD ($) $ in Thousands3 Months Ended
Sep. 30, 2017Sep. 30, 2016
Supplemental Cash Flow Information [Abstract]
Cash received from interest $ 5,286 $ 4,285
Cash paid for interest2,088 1,076
Cash paid for income taxes $ 2,036 $ 1,503

Operating Segments (Reconciliat

Operating Segments (Reconciliation Of Reportable Segments Revenue) (Details) - USD ($) $ in Thousands3 Months Ended
Sep. 30, 2017Sep. 30, 2016
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues $ 152,558 $ 155,633
South African Transaction Processing [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues60,292 52,167
International Transaction Processing [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues46,022 46,190
Financial Inclusion And Applied Technologies [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues46,244 57,276
Reportable Segment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues166,772 167,300
Reportable Segment [Member] | South African Transaction Processing [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues66,437 57,568
Reportable Segment [Member] | International Transaction Processing [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues46,022 46,190
Reportable Segment [Member] | Financial Inclusion And Applied Technologies [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues54,313 63,542
Inter-Segment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues(14,214)(11,667)
Inter-Segment [Member] | South African Transaction Processing [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues(6,145)(5,401)
Inter-Segment [Member] | Financial Inclusion And Applied Technologies [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues $ (8,069) $ (6,266)

Operating Segments (Reconcili70

Operating Segments (Reconciliation Of Reportable Segments Measure Of Profit Or Loss To Income) (Details) - USD ($) $ in Thousands3 Months Ended
Sep. 30, 2017Sep. 30, 2016
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income $ 25,006 $ 32,181
Interest income5,044 4,304
Interest expense(2,121)(796)
Income before income taxes27,929 35,689
Reportable Segment [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income31,568 34,548
Corporate/Eliminations [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income $ (6,562) $ (2,367)

Operating Segments (Summary Of

Operating Segments (Summary Of Segment Information) (Details) - USD ($) $ in Thousands3 Months Ended
Sep. 30, 2017Sep. 30, 2016
Segment Reporting Information [Line Items]
Revenues $ 152,558 $ 155,633
Operating income (loss)25,006 32,181
Depreciation and amortization8,966 10,204
Expenditures for long-lived assets1,473 3,423
Reportable Segment [Member]
Segment Reporting Information [Line Items]
Revenues166,772 167,300
Operating income (loss)31,568 34,548
Depreciation and amortization6,140 7,330
Expenditures for long-lived assets1,473 3,423
Corporate/Eliminations [Member]
Segment Reporting Information [Line Items]
Operating income (loss)(6,562)(2,367)
Depreciation and amortization2,826 2,874
South African Transaction Processing [Member] | Reportable Segment [Member]
Segment Reporting Information [Line Items]
Revenues66,437 57,568
Operating income (loss)12,332 13,548
Depreciation and amortization1,153 1,157
Expenditures for long-lived assets477 407
International Transaction Processing [Member] | Reportable Segment [Member]
Segment Reporting Information [Line Items]
Revenues46,022 46,190
Operating income (loss)5,316 5,817
Depreciation and amortization4,632 5,836
Expenditures for long-lived assets906 2,799
Financial Inclusion And Applied Technologies [Member] | Reportable Segment [Member]
Segment Reporting Information [Line Items]
Revenues54,313 63,542
Operating income (loss)13,920 15,183
Depreciation and amortization355 337
Expenditures for long-lived assets $ 90 $ 217

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions3 Months Ended
Sep. 30, 2017Sep. 30, 2016Jun. 30, 2017
Income Taxes [Abstract]
Effective tax rate36.80%31.10%
Unrecognized tax benefit $ 0.5 $ 0.5
Changes in unrecognized tax benefits0
Accrued interest related to uncertain tax positions $ 0.1

Commitments And Contingencies (

Commitments And Contingencies (Narrative) (Details) $ in Thousands, ZAR in Millions, SFr in MillionsSep. 30, 2017CHF (SFr)Sep. 30, 2017ZARSep. 30, 2017USD ($)Jun. 30, 2017CHF (SFr)Jun. 30, 2017USD ($)
Guarantor Obligations [Line Items]
Amount utilized $ 45,737 $ 16,579 [1]
Maximum payment amount under guarantee ZAR 129.1 9,500
Counter Guarantee [Member]
Guarantor Obligations [Line Items]
Guarantee amount ZAR 129.1 $ 9,500
Payment Guarantee [Member] | Minimum [Member]
Guarantor Obligations [Line Items]
Charge rate0.40%0.40%0.40%
Payment Guarantee [Member] | Maximum [Member]
Guarantor Obligations [Line Items]
Charge rate2.00%2.00%2.00%
Nedbank [Member] | Guarantee [Member]
Guarantor Obligations [Line Items]
Guarantee amount ZAR 129.1 $ 9,500
Bank Frick [Member] | Europe [Member]
Guarantor Obligations [Line Items]
Amount utilized[2]45,737 16,579
Bank Frick [Member] | Revolving Overdraft Facility [Member] | Guarantee [Member] | Europe [Member]
Guarantor Obligations [Line Items]
Maximum payment amount under guarantee45,700
Bank Frick [Member] | Revolving Overdraft Facility One [Member] | Europe [Member]
Guarantor Obligations [Line Items]
Amount utilized SFr 23.8 28,100 0
Bank Frick [Member] | Revolving Overdraft Facility Two [Member] | Europe [Member]
Guarantor Obligations [Line Items]
Amount utilized SFr 17 $ 17,600 SFr 15.9 $ 16,600
[1]Derived from audited financial statements
[2]Utilized amount included in short-term facilities on the unaudited condensed consolidated balance sheets.