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Lesaka (LSAK)

Document And Entity Information

Document And Entity Information - shares9 Months Ended
Mar. 31, 2018May 06, 2018
Document And Entity Information [Abstract]
Document Type10-Q
Amendment Flagfalse
Document Period End DateMar. 31,
2018
Document Fiscal Year Focus2018
Document Fiscal Period FocusQ3
Entity Registrant NameNET 1 UEPS TECHNOLOGIES INC
Entity Central Index Key1041514
Current Fiscal Year End Date--06-30
Entity Filer CategoryAccelerated Filer
Trading Symbolueps
Entity Common Stock, Shares Outstanding56,862,187

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in ThousandsMar. 31, 2018Jun. 30, 2017[1]
CURRENT ASSETS
Cash and cash equivalents $ 87,172 $ 258,457
Pre-funded social welfare grants receivable (Note 2)4,643 2,322
Accounts receivable, net of allowances of - March: $966; June : $1,255120,664 111,429
Finance loans receivable, net of allowances of - March: $17,622; June: $7,46976,916 80,177
Inventory (Note 3)11,808 8,020
Deferred income taxes (Note 1) 5,330
Total current assets before settlement assets301,203 465,735
Settlement assets (Note 4)394,138 640,455
Total current assets695,341 1,106,190
PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation of - March: $145,163; June: $120,21231,592 39,411
EQUITY-ACCOUNTED INVESTMENTS (Note 6)185,023 27,862
GOODWILL (Note 7)182,534 188,833
INTANGIBLE ASSETS, net (Note 7)31,428 38,764
DEFERRED INCOME TAXES (Note 1)3,363
OTHER LONG-TERM ASSETS, including reinsurance assets (Note 6 and Note 8)271,185 49,696
TOTAL ASSETS1,400,466 1,450,756
CURRENT LIABILITIES
Short-term credit facilities (Note 9)3,400 16,579
Accounts payable16,995 15,136
Other payables43,001 34,799
Current portion of long-term borrowings (Note 10)56,446 8,738
Income taxes payable14,502 5,607
Total current liabilities before settlement obligations134,344 80,859
Settlement obligations (Note 4)394,138 640,455
Total current liabilities528,482 721,314
DEFERRED INCOME TAXES (Note 1)17,789 11,139
LONG-TERM BORROWINGS (Note 10)19,008 7,501
OTHER LONG-TERM LIABILITIES, including insurance policy liabilities (Note 8)2,901 2,795
TOTAL LIABILITIES568,180 742,749
COMMITMENTS AND CONTINGENCIES (Note 18)
REDEEMABLE COMMON STOCK (Note 1)107,672 107,672
EQUITY
COMMON STOCK (Note 11) Authorized: 200,000,000 with $0.001 par value; Issued and outstanding shares, net of treasury - March: 56,855,187; June: 56,369,73780 80
PREFERRED STOCK Authorized shares: 50,000,000 with $0.001 par value; Issued and outstanding shares, net of treasury: March: -; June: -
ADDITIONAL PAID-IN CAPITAL275,536 273,733
TREASURY SHARES, AT COST: March: 24,891,292; June: 24,891,292(286,951)(286,951)
ACCUMULATED OTHER COMPREHENSIVE LOSS (Note 12)(73,481)(162,569)
RETAINED EARNINGS805,390 773,276
TOTAL NET1 EQUITY720,574 597,569
NON-CONTROLLING INTEREST4,040 2,766
TOTAL EQUITY (Note 1)724,614 600,335
TOTAL LIABILITIES, REDEEMABLE COMMON STOCK AND SHAREHOLDERS' EQUITY $ 1,400,466 $ 1,450,756
[1]Derived from audited financial statements

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in ThousandsMar. 31, 2018Jun. 30, 2017
Condensed Consolidated Balance Sheets [Abstract]
Accounts receivable, allowances $ 966 $ 1,255
Finance loans receivable, allowances17,622 7,469
Property, plant and equipment, accumulated depreciation $ 145,163 $ 120,212
Common stock, shares authorized200,000,000 200,000,000
Common stock, par value $ 0.001 $ 0.001
Common stock, shares issued56,855,187 56,369,737
Common stock, shares outstanding56,855,187 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 Ended9 Months Ended
Mar. 31, 2018Mar. 31, 2017Mar. 31, 2018Mar. 31, 2017
Condensed Consolidated Statements Of Operations [Abstract]
REVENUE $ 162,721 $ 147,944 $ 463,695 $ 455,010
EXPENSE
Cost of goods sold, IT processing, servicing and support77,860 70,912 226,506 219,210
Selling, general and administration48,091 42,195 141,417 122,366
Depreciation and amortization9,341 10,290 27,030 31,117
Impairment loss (note 7)19,865 19,865
OPERATING INCOME7,564 24,547 48,877 82,317
INTEREST INCOME5,154 5,124 14,903 14,489
INTEREST EXPENSE2,426 467 6,872 1,773
INCOME BEFORE INCOME TAX EXPENSE10,292 29,204 56,908 95,033
INCOME TAX EXPENSE (Note 17)10,941 10,233 31,280 32,320
NET (LOSS) INCOME BEFORE EARNINGS FROM EQUITY-ACCOUNTED INVESTMENTS(649)18,971 25,628 62,713
EARNINGS FROM EQUITY-ACCOUNTED INVESTMENTS3,960 45 7,389 778
NET INCOME3,311 19,016 33,017 63,491
LESS NET INCOME ATTRIBUTABLE TO NON-CONTROLLING INTEREST302 624 903 1,826
NET INCOME ATTRIBUTABLE TO NET1 $ 3,009 $ 18,392 $ 32,114 $ 61,665
Net income per share, in U.S. dollars (Note 14)
Basic earnings attributable to Net1 shareholders $ 0.05 $ 0.34 $ 0.57 $ 1.16
Diluted earnings attributable to Net1 shareholders $ 0.05 $ 0.34 $ 0.56 $ 1.16

Condensed Consolidated Stateme5

Condensed Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands3 Months Ended9 Months Ended
Mar. 31, 2018Mar. 31, 2017Mar. 31, 2018Mar. 31, 2017
Condensed Consolidated Statements Of Comprehensive Income [Abstract]
Net income $ 3,311 $ 19,016 $ 33,017 $ 63,491
Other comprehensive income (loss)
Movement in foreign currency translation reserve20,683 24,158 60,320 25,694
Net unrealized income on asset available for sale, net of tax29,366 29,366
Movement in foreign currency translation reserve related to equity-accounted investments(227)
Total other comprehensive income, net of taxes50,049 24,158 89,459 25,694
Comprehensive income53,360 43,174 122,476 89,185
Less comprehensive income attributable to non-controlling interest(473)(649)(1,274)(2,330)
Comprehensive income attributable to Net1 $ 52,887 $ 42,525 $ 121,202 $ 86,855

Condensed Consolidated Stateme6

Condensed Consolidated Statement Of Changes In Equity - 9 months ended Mar. 31, 2018 - USD ($) $ in ThousandsCommon 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]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 $ (286,951) $ 273,733 $ 773,276 $ (162,569) $ 597,569 $ 2,766 $ 600,335 [1]
Redeemable Common Stock (Note 1), Balance at Jun. 30, 2017[1]107,672
Restricted stock granted (Note 13), shares611,411 611,411
Stock-based compensation charge (Note 13)2,052 2,052 2,052
Reversal of stock compensation charge (Note 13)(42)(42)(42)
Reversal of stock compensation charge (Note 13), shares(125,961)(125,961)
Reversal of stock based-compensation charge related to equity-accounted investment(207)(207)(207)
Net income32,114 32,114 903 33,017
Other comprehensive income (Note 12)89,088 89,088 371 $ 89,459
Balance, Number of Shares at Mar. 31, 201881,746,479 (24,891,292)56,855,187 56,855,187
Balance at Mar. 31, 2018 $ 80 $ (286,951) $ 275,536 $ 805,390 $ (73,481) $ 720,574 $ 4,040 $ 724,614
Redeemable Common Stock (Note 1), Balance at Mar. 31, 2018 $ 107,672
[1]Derived from audited financial statements

Condensed Consolidated Stateme7

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands3 Months Ended9 Months Ended
Mar. 31, 2018Mar. 31, 2017Mar. 31, 2018Mar. 31, 2017
Cash flows from operating activities
Net income $ 3,311 $ 19,016 $ 33,017 $ 63,491
Depreciation and amortization9,341 10,290 27,030 31,117
Earnings from equity-accounted investments(3,960)(45)(7,389)(778)
Interest on Cedar Cellular note (Note 6)(587)(769)
Fair value adjustments(110)(50)(209)(61)
Interest payable(17)75 (264)84
Facility fee amortized120 27 467 94
(Profit) Loss on disposal of property, plant and equipment(50)(98)71 (571)
Profit on disposal of business(463)
Stock-based compensation charge (reversal), net (Note 13)575 621 2,010 (68)
Dividends received from equity accounted investments1,946 4,111 370
Impairment loss (note 7)19,865 19,865
Decrease (Increase) in accounts receivable, pre-funded social welfare grants receivable and finance loans receivable42,558 (16,612)9,422 (2,261)
Decrease (Increase) in inventory1,072 3,893 (2,776)308
Increase (Decrease) in accounts payable and other payables2,827 (1,486)5,775 (4,386)
Decrease in taxes payable9,007 6,678 8,091 5,819
Decrease in deferred taxes(653)(506)(225)(1,752)
Net cash provided by operating activities85,245 21,803 97,764 91,406
Cash flows from investing activities
Capital expenditures(4,225)(1,949)(7,801)(8,498)
Proceeds from disposal of property, plant and equipment160 330 575 1,344
Investment in Cell C (Note 6)(151,003)
Investment in equity of equity-accounted investments (Note 6)(18,597)(132,335)
Loans to equity-accounted investments (Note 6)(10,635)(2,000)(10,635)(12,044)
Acquisition of held to maturity investment (Note 6)(9,000)
Investment in MobiKwik(15,347)
Acquisitions, net of cash acquired(4,651)
Other investing activities(154)
Net change in settlement assets (Note 4)43,222 (165,945)280,390 54,827
Net cash provided by (used in) investing activities9,925 (169,564)(29,963)15,631
Cash flows from financing activities
Long-term borrowings utilized (Note 10)17,726 274 113,157 521
Repayment of long-term borrowings (Note 10)(15,826)(60,967)(28,493)
Repayment of bank overdraft (Note 9)(42,650)(56,993)
Proceeds from bank overdraft (Note 9)9,802 42,372
Guarantee fee paid (Note 10)(202)(754)(1,145)
Proceeds from issue of common stock45,629 45,629
Acquisition of treasury stock (Note 11)(32,081)
Dividends paid to non-controlling interest(613)
Net change in settlement obligations (Note 4)(43,222)165,955 (280,390)(54,817)
Net cash (used in) provided by financing activities(74,372)211,858 (243,575)(70,999)
Effect of exchange rate changes on cash1,478 4,719 4,489 8,025
Net increase (decrease) in cash, cash equivalents and restricted cash22,276 68,816 (171,285)44,063
Cash, cash equivalents and restricted cash - beginning of period64,896 198,891 258,457 223,644
Cash, cash equivalents and restricted cash - end of period[1] $ 87,172 267,707 $ 87,172 267,707
Restricted cash $ 44,700 $ 44,700
[1]Cash, cash equivalents and restricted cash as of March 31, 2017, includes restricted cash of approximately $44.7 million related to the guarantee issued by FirstRand Bank Limited (acting through its Rand Merchant Bank division). This cash was placed into an escrow account and was considered restricted as to use and therefore was classified as restricted cash. The restriction lapsed upon expiry of the guarantee.

Basis Of Presentation And Summa

Basis Of Presentation And Summary Of Significant Accounting Policies9 Months Ended
Mar. 31, 2018
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 and nine months ended March 31, 2018 and 2017, 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, 2017. 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. During the three months ended December 31, 2017, the Company reclassified redeemable common stock out of total equity because redeemable common stock is required to be presented outside of permanent equity. The Company has restated these amounts in its unaudited condensed consolidated balance sheet as at June 30, 2017 and unaudited condensed consolidated statement of changes in equity for the nine months ended March 31, 2018. The reclassification resulted in a decrease in total equity by approximately $107.7 million and an increase in redeemable common stock, presented outside of permanent equity, of approximately $107.7 million. This reclassification had no impact on the Company's previously reported consolidated income, comprehensive income or cash flows. 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 March 31, 2018. 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 March 31, 2018 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 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 Receivable9 Months Ended
Mar. 31, 2018
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 April 2018 payment service commenced on April 3, 2018, but the Company pre-funded certain merchants participating in the merchant acquiring systems on March 31, 2018. 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

Inventory9 Months Ended
Mar. 31, 2018
Inventory [Abstract]
Inventory3. Inventory The Company's inventory comprised the following category as of March 31, 2018 and June 30, 2017.
March 31, June 30, 2018 2017 Finished goods $ 11,808 $ 8,020 $ 11,808 $ 8,020

Settlement Assets And Settlemen

Settlement Assets And Settlement Obligations9 Months Ended
Mar. 31, 2018
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 Instruments9 Months Ended
Mar. 31, 2018
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 manages its exposure to currency exchange, translation, interest rate, customer concentration, credit and equity price and liquidity risks as discussed below.
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 held to maturity investments and has occasionally invested in marketable securities.
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 provide unsecured short-term loans to qualifying customers. The Company manages this risk by performing an affordability test for each prospective customer and assigning 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. Asset measured at fair value using significant unobservable inputs – investment in Cell C
The Company's Level 3 asset represents an investment of 75,000,000 3.7 309.0 7.20 8.2 691.6 10 The fair value of the Cell C shares as of March 31, 2018, represented approximately 15% of the Company's total assets, including these shares. The Company expects to hold these shares for an extended period of time and it is not concerned with short-term equity price volatility with respect to these shares provided that the underlying business, economic and management characteristics of the company remain sound. 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 "BB+" (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 and June 30, 2017, respectively. The following table presents the Company's assets measured at fair value on a recurring basis as of March 31, 2018, according to the fair value hierarchy:
Quoted price in Significant active markets other Significant for identical observable unobservable assets inputs inputs (Level 1) (Level 2) (Level 3) Total Assets Investment in Cell C $ - $ - $ 206,970 $ 206,970 Related to insurance business: Cash and cash equivalents (included in other long-term assets) 701 - - 701 Fixed maturity investments (included in cash and cash equivalents) 9,230 - - 9,230 Other - 40 - 40 Total assets at fair value $ 9,931 $ 40 $ 206,970 $ 216,941 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 Significant in Active Other Significant Markets for Observable Unobservable Identical 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 , 2018 and 2017, 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 asset 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 Assets9 Months Ended
Mar. 31, 2018
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 March 31, 2018 and June 30, 2017, was as follows:
March 31, June 30, 2018 2017 DNI-4PL (Pty) Ltd ("DNI") 49 % - Bank Frick & Co AG ("Bank Frick") 35 % - Finbond Group Limited ("Finbond") 26 % 26 % OneFi Limited (formerly KZ One) ("OneFi") 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 4,000,000 89.3 7.5 49 On March 9, 2018, the Company agreed to subscribe for an additional 6,000,000 126.0 10.7 55 Under the terms of the July 27, 2017, agreement, the Company agreed to pay to DNI an additional amount of up to ZAR 360.0 30.4 380.0 32.1
On October 2, 2017, the Company acquired a 30 39.8 40.9 5 10.4 11.1 3.8 4.1 October 2, 2019 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 card issuing and acquiring and transaction processing activities as well as new opportunities in blockchain and crypto-currencies. 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. As of March 31, 2018, the Company owned 205,483,967 4.00 821.9 69.5 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 2.31175 The loan was initially set to mature at the earlier of Finbond concluding a rights offer or February 28, 2017, but the agreement was subsequently amended to extend the repayment date to on or before February 28, 2018, or such later date as may be mutually agreed by the parties in writing. The Company had the right to elect for the loan to be repaid in either Finbond ordinary shares, including through a rights offering, (in accordance with an agreed mechanism) or in cash. The Company is required to make a repayment election within 180 days after the repayment date otherwise the repayment election will automatically default to repayment in ordinary shares. Finbond undertook to perform all necessary steps reasonably required to effect the issuance of shares to settle the repayment of the loan if that option is elected by the Company. In March 2018, the parties amended the agreement to extend the repayment date from February 28, 2018 to August 31, 2018, and to finalize certain matters related to the rights offering mechanism and determining the maximum number of shares that Finbond would issue to parties participating in a rights offering. On March 23, 2018, Finbond publicly announced that it had commenced a rights offering process and that the proceeds of the offering would be used to settle certain loans, including the loan due to the Company. The loan is included in equity accounted investments as of March 31, 2018, and accounts receivable, net, as of June 30, 2017, on the Company's unaudited condensed consolidated balance sheet. The rights offering closed on April 20, 2018. The Company agreed to underwrite the Finbond rights offer up to an amount of 55,585,514 261,069,481 27.6 The Company provided a credit facility of up to $ 10 2 1.0 Summarized below is the movement in equity-accounted investments during the nine months ended March 31, 2018:
Bank DNI Frick Finbond Other (1) Total Investment in equity: Balance as of June 30, 2017 $ - $ - $ 18,961 $ 6,742 $ 25,703 Acquisition of shares 79,541 51,949 1,941 - 133,431 Stock-based compensation - - (207 ) - (207 ) Comprehensive income (loss): 5,202 975 874 111 7,162 Other comprehensive loss - - (227 ) - (227 ) Equity accounted earnings (loss) 5,202 975 1,101 111 7,389 Share of net income (loss) 6,868 1,234 1,931 111 10,144 Amortization of acquired intangible assets (2,315 ) (342 ) - - (2,657 ) Deferred taxes on acquired intangible assets 649 83 - - 732 Dilution resulting from corporate transactions - - (830 ) - (830 ) Dividends received (1,765 ) (1,946 ) (1,096 ) (400 ) (5,207 ) Foreign currency adjustment (2) 7,917 639 2,127 (489 ) 10,194 Balance as of March 31, 2018 $ 90,895 $ 51,617 $ 22,600 $ 5,964 $ 171,076 Investment in loans: Balance as of June 30, 2017 $ - $ - $ - $ 2,159 $ 2,159 Transfer from accounts receivable, net - - 11,772 - 11,772 Foreign currency adjustment (2) - - - 16 16 Balance as of March 31, 2018 $ - $ - $ 11,772 $ 2,175 $ 13,947
Equity Loans Total Carrying amount as of: June 30, 2017 $ 25,703 $ 2,159 $ 27,862 March 31, 2018 $ 171,076 $ 13,947 $ 185,023 (1) Includes OneFi, SmartSwitch Namibia and Walletdoc; (2) The foreign currency adjustment represents the effects of the fluctuations of the South African rand, Nigerian naira and Namibian dollar, against the U.S. dollar on the carrying value. Other long-term assets Summarized below is the breakdown of other long-term assets as of March 31, 2018, and June 30, 2017:
March 31, June 30, 2018 2017 Investment in 15 $ 206,970 $ - Investment in 12 28,391 26,317 Total equity investments 235,361 26,317 Investment in 7.625 8.625 2022 9,769 - Total held to maturity investments 9,769 - Long-term portion of payments to agents in South Korea amortized over the contract period 19,447 17,290 Policy holder assets under investment contracts (Note 8) 701 627 Reinsurance assets under insurance contracts Note 8) 224 191 Other long-term assets 5,683 5,271 Total other long-term assets $ 271,185 $ 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 65 two 40.0 24 15.0 10.6 13.5 90 12.0
In December 2017, the Company purchased, for cash, $ 9.0 20.5 August 2, 2022 59,000,000 Summarized below are the components of the Company's available for sale and held to maturity investments as of March 31, 2018:
Unrealized Unrealized holding holding Carrying Cost basis gains losses value Available for sale: Investment in Cell C $ 169,127 $ 37,843 $ - $ 206,970 Held to maturity: Investment in Cedar Cellular notes 9,000 769 - 9,769 Total 178,127 $ 38,612 $ - $ 216,739 The Company had no Contractual maturities of held to maturity investments
Summarized below are the contractual maturities of the Company's held to maturity investment as of March 31, 2018:
Cost Estimated basis fair value Due in one year or less $ - $ - Due in one year through five years 9,000 9,769 Due in five years through ten years - - Due after ten years - - Total $ 9,000 $ 9,769

Goodwill And Intangible Assets,

Goodwill And Intangible Assets, Net9 Months Ended
Mar. 31, 2018
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 nine months ended March 31, 2018:
Accumulated Carrying Gross value impairment value Balance as of June 30, 2017 $ 188,833 $ - $ 188,833 Impairment of goodwill - (19,865 ) (19,865 ) Foreign currency adjustment (1) 13,566 - 13,566 Balance as of March 31, 2018 $ 202,399 $ (19,865 ) $ 182,534 (1) - Represents the effects of the fluctuations of the South African rand, euro and the Korean won, against 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 Impairment of goodwill - (19,865 ) - (19,865 ) Foreign currency adjustment (1) 2,404 9,155 2,007 13,566 Balance as of March 31, 2018 $ 25,535 $ 129,860 $ 27,139 $ 182,534 (1) - Represents the effects of the fluctuations of the South African rand, euro and the Korean won, against the U.S. dollar on the carrying value.
Impairment loss The Company assesses the carrying value of goodwill for impairment annually, or more frequently, whenever events occur and circumstances change indicating potential impairment. The Company performs its annual impairment test as at June 30 of each year. During the three and nine months ended March 31, 2018, the Company recognized an impairment loss of approximately $19.9 million related to goodwill allocated to the Masterpayment business within its international transaction processing operating segment as a result of changes to the operating model of Masterpayment. During the second quarter of fiscal 2018, the Company re-evaluated the operating performance and ongoing viability of Masterpayment's working capital financing and supply chain solutions offering and determined to exit this portion of its business. While the Company believed that it could scale this offering in the medium to long-term by focusing on customers and industries outside Masterpayment's initial target market, this standalone offering did not fit the Company's strategy of providing payment solutions and working capital to small and medium-sized merchants. In order to focus on the Company's stated international strategy, the Company decided to wind-down the traditional working capital finance book issued to non-payment solutions customers. During the third quarter of fiscal 2018, the Company evaluated Masterpayment's business strategy and following the wind-down referred to above, it has determined that Masterpayment is unlikely to deliver the financial results or cash flows previously anticipated. The Company and two of Masterpayment's senior managers have agreed, by mutual consent, that with effect from the end of March 2018, the managers terminated their employment with Masterpayment in order to dedicate themselves to new professional tasks. In order to determine the amount of goodwill impairment, the estimated fair value of the Company's Masterpayment business was allocated to the individual fair value of the assets and liabilities of Masterpayment as if it had been acquired in a business combination, which resulted in the implied fair value of the goodwill. The allocation of the fair value of Masterpayment required the Company to make a number of assumptions and estimates about the fair value of assets and liabilities where the fair values were not readily available or observable. A further deterioration in the international transaction processing operating segment, or in any other of the Company's businesses, may lead to additional impairments in future periods. Carrying value and amortization of intangible assets Summarized below is the carrying value and accumulated amortization of the intangible assets as of March 31, 2018 and June 30, 2017 :
As of March 31, 2018 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 $ 106,620 $ (78,746 ) $ 27,874 $ 99,209 $ (65,595 ) $ 33,614 Software and unpatented technology 35,265 (34,242 ) 1,023 33,273 (31,112 ) 2,161 FTS patent 3,240 (3,240 ) - 2,935 (2,935 ) - Exclusive licenses 4,506 (4,506 ) - 4,506 (4,506 ) - Trademarks 7,493 (5,799 ) 1,694 6,972 (4,759 ) 2,213 Total finite-lived intangible assets 157,124 (126,533 ) 30,591 146,895 (108,907 ) 37,988 Indefinite-lived intangible assets: Financial institution license 837 - 837 776 - 776 Total indefinite-lived intangible assets 837 - 837 776 - 776 Total intangible assets $ 157,961 $ (126,533 ) $ 31,428 $ 147,671 $ (108,907 ) $ 38,764
Aggregate amortization expense on the finite-lived intangible assets for the three months ended March 31, 2018 and 2017, was approximately $ 3.0 3.7 8.8 10.2 Future estimated annual amortization expense for the next five fiscal years and thereafter, assuming exchange rates that prevailed on March 31, 2018, 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 $ 12,915 Fiscal 2019 11,445 Fiscal 2020 10,727 Fiscal 2021 4,620 Fiscal 2022 85 Thereafter 345 Total future estimated annual amortization expense $ 40,137

Reinsurance Assets And Policyho

Reinsurance Assets And Policyholder Liabilities Under Insurance And Investment Contracts9 Months Ended
Mar. 31, 2018
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 nine months ended March 31, 2018:
Reinsurance Insurance assets (1) contracts (2) Balance as of June 30, 2017 $ 191 $ (1,611 ) Increase in policyholder benefits under insurance contracts 1,276 (7,881 ) Claims and policyholders' benefits under insurance contracts. (1,263 ) 7,691 Foreign currency adjustment (3) 20 (168 ) Balance as of March 31, 2018 $ 224 $ (1,969 )
(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 certain 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 nine months ended March 31, 2018:
Investment Assets (1) contracts (2) Balance as of June 30, 2017 $ 627 $ (627 ) Increase in policyholder benefits under investment contracts 9 (9 ) Foreign currency adjustment (3) 65 (65 ) Balance as of March 31, 2018 $ 701 $ (701 )
(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 Facilities9 Months Ended
Mar. 31, 2018
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 March 31, 2018 and June 30, 2017, all amounts below were translated at the exchange rates applicable as of the date presented:
March 31, 2018 June 30, 2017 Available Utilized Available Utilized United States: Bank Frick (1) $ 10,000 $ 3,400 $ - $ - Europe: Bank Frick (1) - - 66,579 16,579 South Africa: Nedbank Limited 33,800 9,136 30,600 10,000 Overdraft facility (1) 21,100 - 19,109 - Indirect and derivative facilities (Note 18) $ 12,700 $ 9,136 $ 11,491 $ 10,000 (1) Utilized amount included in short-term facilities on the unaudited condensed consolidated balance sheets. United States
On January 29, 2018, the Company obtained a $ 10.0 4.50 March 31, 2018 2.31175 six
Europe The Company had obtained EUR 40.0 20 15.9 16.6 no
South Africa The aggregate amount of the Company's short-term South African credit facility with Nedbank Limited was ZAR 400 33.8 200 16.9 200 16.9 50 4.2 150 12.7 As of March 31, 2018, the interest rate on the overdraft facility was 8.85 0.35 As of each of March 31, 2018 and June 30, 2017, respectively, the Company had not utilized any of its overdraft facility. As of March 31, 2018, the Company had utilized approximately ZAR 108.0 130.5 10.0

Long-Term Borrowings

Long-Term Borrowings9 Months Ended
Mar. 31, 2018
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 March 31, 2018, $ 75.5 210.0 17.8 March 31, 2020 2.75 6.867 On July 26, 2017, the Company utilized ZAR 1.25 92.2 15 84.0 7.1 4.0 126.0 10.6 Principal repayments of the facilities are due in twelve 562.5 44.4 324.0 27.4 213.8 18.1 The Company paid a non-refundable origination fee of approximately ZAR 6.3 0.6 2.4 0.2 1.9 5.5 0.1 0.3
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. On July 29, 2017, the Company utilized approximately KRW 0.3 0.3 16.6 Interest expense incurred during the three months ended March 31, 2017, was $ 0.3 0.4 0.9 0.03 0.1 0.09

Capital Structure

Capital Structure9 Months Ended
Mar. 31, 2018
Capital Structure [Abstract]
Capital Structure11. Capital structure
The following table presents a reconciliation between the number of shares, net of treasury, presented in the unaudited condensed consolidated statement of changes in equity during the nine months ended March 31, 2018 and 2017, respectively, and the number of shares, net of treasury, excluding non-vested equity shares that have not vested during the nine months ended March 31, 2018 and 2017, respectively:
March 31, March 31, 2018 2017 Number of shares, net of treasury: Statement of changes in equity 56,855,187 57,590,085 Less: Non-vested equity shares that have not vested (Note 13) (934,673 ) (904,356 ) Number of shares, net of treasury excluding non-vested equity shares that have not vested 55,920,514 56,685,729
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 3,137,609 31.6

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss9 Months Ended
Mar. 31, 2018
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 nine months ended March 31, 2018:
Nine months ended March 31, 2018 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 ) $ - $ (162,569 ) Movement in foreign currency translation reserve related to equity accounted investment (227 ) - (227 ) Unrealized income on asset available for sale, net of tax of $ 8,477 - 29,366 29,366 Movement in foreign currency translation reserve 59,949 - 59,949 Balance as of March 31, 2018 $ (102,847 ) $ 29,366 $ (73,481 )
There were no , 2018 or 2017.

Stock-Based Compensation

Stock-Based Compensation9 Months Ended
Mar. 31, 2018
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 nine months ended March 31, 2018 and 2017:
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 – March 31, 2018 809,274 13.99 2.92 427 Outstanding – June 30, 2016 2,077,524 15.92 3.65 926 Exercised (68,740 ) 9.15 882 Expired unexercised (474,443 ) 22.51 Outstanding – March 31, 2017 . 1,534,341 14.19 3.88 2,150
No 37,333 no 474,443
These options have an exercise price range of $ 7.35 24.46
The following table presents stock options that are exercisable as of March 31, 2018:
Weighted Weighted average average remaining Aggregate exercise contractual intrinsic Number of price term value shares ($) (in years) ($' 000 ) Exercisable – March 31, 2018 809,274 13.99 2.92 427
No 105,982 154,803
Restricted stock
The following table summarizes restricted stock activity for the nine months ended March 31, 2018 and 2017:
Number of Weighted shares of average grant restricted date fair value stock ($'000) Non-vested – June 30, 2017 505,473 11,173 Granted – August 2017 588,594 4,288 Granted – March 2018 22,817 234 Vested – August 2017 (56,250 ) 527 Forfeitures (30,635 ) 358 Forfeitures – August and November 2014 awards with market conditions (95,326 ) 1,133 Non-vested – March 31, 2018 934,673 9,608 Non-vested – June 30, 2016 589,447 7,622 Granted – August 2016 387,000 4,145 Vested – August 2016 (72,091 ) 735 Non-vested – March 31, 2017 904,356 11,142
The August 2017 grants comprise (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 11,409 11,408 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, that 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 During the three and nine months ended March 31, 2017, the Company reversed the stock-based compensation charge recognized to date related to the 301,537 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
Forfeiture of restricted stock awarded in August and November 2014 that did not achieved targeted market conditions During the three and nine months ended March 31, 2018, restricted stock with market conditions awarded in August and November 2014, were forfeited, because the target market conditions were not achieved. The stock-based compensation charge related to these awards was not reversed upon forfeiture because these awards contained market conditions. The fair value of restricted stock vesting during the nine months ended March 31, 2018 and 2017, respectively, was $ 0.5 0.7
Stock-based compensation charge and unrecognized compensation cost The Company recorded a stock-based compensation charge during each of the three months ended March 31, 2018 and 2017 of $0.6 million, which comprised:
Allocated to cost of goods sold, IT Allocated to processing, selling, general Total servicing and and charge support administration Three months ended March 31, 2018 Stock-based compensation charge $ 575 $- $ 575 Total – three months ended March 31, 2018 $ 575 $- $ 575 Three months ended March 31, 2017 Stock-based compensation charge $ 621 $- $ 621 Total – three months ended March 31, 2017 $ 621 $- $ 621 The Company recorded a stock-based compensation charge (reversal) during the nine months ended March 31, 2018 and 2017 of $2.0 million and ($0.07 million), respectively, which comprised:
Allocated to cost of goods sold, IT Allocated to processing, selling, general Total servicing and and charge support administration Nine months ended March 31, 2018 Stock-based compensation charge $ 2,052 $ - $ 2,052 Reversal of stock compensation charge related to stock options forfeited (42 ) - (42 ) Total – nine months ended March 31, 2018 $ 2,010 $ - $ 2,010 Nine months ended March 31, 2017 Stock-based compensation charge $ 1,759 $ - $ 1,759 Reversal of stock compensation charge related to restricted stock (1,827 ) - (1,827 ) Total – nine months ended March 31, 2017 $ (68 ) $ - $ (68 ) The stock-based compensation charges have been allocated to selling, general and administration based on the allocation of the cash compensation paid to the relevant employees.
As of March 31, 2018, there was no 4.0 two 3.9 3.2
As of March 31, 2018 and June 30, 2017, the Company recorded a deferred tax asset of approximately $ 0.7 0.9

Earnings Per Share

Earnings Per Share9 Months Ended
Mar. 31, 2018
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 and nine months ended March 31, 2018 and 2017, 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, August 2017, and March 2018 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 March 2018, 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 Nine months ended March 31, March 31, 2018 2017 2018 2017 (in thousands except (in thousands except percent and percent and per share data) per share data) Numerator: Net income attributable to Net1 $ 3,009 $ 18,392 $ 32,114 $ 61,665 Undistributed earnings 3,009 18,392 32,114 61,665 Percent allocated to common shareholders (Calculation 1) 98 % 98 % 98 % 98 % Numerator for earnings per share: basic and diluted $ 2,962 $ 18,064 $ 31,597 $ 60,609 Denominator: Denominator for basic earnings per share: weighted-average common shares outstanding 55,828 53,666 55,874 52,054 Effect of dilutive securities: Stock options 61 169 54 127 Denominator for diluted earnings per share: adjusted weighted average common shares outstanding and assumed conversion 55,889 53,835 55,928 52,181 Earnings per share: Basic $ 0.05 $ 0.34 $ 0.57 $ 1.16 Diluted $ 0.05 $ 0.34 $ 0.56 $ 1.16 (Calculation 1) Basic weighted-average common shares outstanding (A) 55,828 53,666 55,874 52,054 Basic weighted-average common shares outstanding and unvested restricted shares expected to vest (B) 56,716 54,639 56,788 52,961 Percent allocated to common shareholders (A) / (B) 98 % 98 % 98 % 98 %
Options to purchase 288,692 351,828 10.59 24.46

Supplemental Cash Flow Informat

Supplemental Cash Flow Information9 Months Ended
Mar. 31, 2018
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information15. Supplemental cash flow information The following table presents supplemental cash flow disclosures for the three and nine months ended March 31, 2018 and 2017:
Three months ended Nine months ended March 31, March 31, 2018 2017 2018 2017 Cash received from interest $ 4,561 $ 5,265 $ 14,409 $ 14,600 Cash paid for interest $ 2,298 $ 435 $ 6,716 $ 2,007 Cash paid for income taxes $ 2,276 $ 3,631 $ 22,925 $ 27,698
Treasury shares, at cost included in the Company's condensed consolidated balance sheet as of June 30, 2016, includes 47,056 0.5 31, 2016.

Operating Segments

Operating Segments9 Months Ended
Mar. 31, 2018
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 March 31, 2018 and 2017, is as follows:
Revenue From Reportable Inter- external Segment segment customers South African transaction processing $ 73,508 $ 7,429 $ 66,079 International transaction processing 46,240 - 46,240 Financial inclusion and applied technologies 59,574 9,172 50,402 Total for the three months ended March 31, 2018 $ 179,322 $ 16,601 $ 162,721 South African transaction processing $ 63,967 $ 7,331 $ 56,636 International transaction processing 41,514 - 41,514 Financial inclusion and applied technologies 56,881 7,087 49,794 Total for the three months ended March 31, 2017 $ 162,362 $ 14,418 $ 147,944
The reconciliation of the reportable segments revenue to revenue from external customers for the nine months ended March 31, 2018 and 2017, is as follows:
Revenue From Reportable Inter- external Segment segment customers South African transaction processing $ 204,093 $ 19,755 $ 184,338 International transaction processing 136,447 - 136,447 Financial inclusion and applied technologies 168,018 25,108 142,910 Total for the nine months ended March 31, 2018 $ 508,558 $ 44,863 $ 463,695 South African transaction processing $ 181,397 $ 18,127 $ 163,270 International transaction processing 131,704 - 131,704 Financial inclusion and applied technologies 179,681 19,645 160,036 Total for the nine months ended March 31, 2017 $ 492,782 $ 37,772 $ 455,010 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 and nine months ended March 31, 2018 and 2017, is as follows:
Three months ended Nine months ended March 31, March 31, 2018 2017 2018 2017 Reportable segments measure of profit or loss $ 12,795 $ 31,563 $ 65,579 $ 99,494 Operating income: Corporate/Eliminations (5,231 ) (7,016 ) (16,702 ) (17,177 ) Interest income 5,154 5,124 14,903 14,489 Interest expense (2,426 ) (467 ) (6,872 ) (1,773 ) Income before income taxes $ 10,292 $ 29,204 $ 56,908 $ 95,033
The following tables summarize segment information that is prepared in accordance with GAAP for the three and nine months ended March 31, 2018 and 2017:
Three months ended Nine months ended March 31, March 31, 2018 2017 2018 2017 Revenues South African transaction processing $ 73,508 $ 63,967 $ 204,093 $ 181,397 International transaction processing 46,240 41,514 136,447 131,704 Financial inclusion and applied technologies 59,574 56,881 168,018 179,681 Total 179,322 162,362 508,558 492,782 Operating income (loss) South African transaction processing 12,719 15,531 38,521 44,451 International transaction processing (14,892 ) 1,968 (14,567 ) 11,689 Financial inclusion and applied technologies 14,968 14,064 41,625 43,354 Subtotal: Operating segments 12,795 31,563 65,579 99,494 Corporate/Eliminations (5,231 ) (7,016 ) (16,702 ) (17,177 ) Total 7,564 24,547 48,877 82,317 Depreciation and amortization South African transaction processing 1,236 1,139 3,476 3,433 International transaction processing 4,668 5,083 13,681 16,440 Financial inclusion and applied technologies 398 365 1,062 1,056 Subtotal: Operating segments 6,302 6,587 18,219 20,929 Corporate/Eliminations 3,039 3,703 8,811 10,188 Total 9,341 10,290 27,030 31,117 Expenditures for long-lived assets South African transaction processing 1,794 448 3,171 1,490 International transaction processing 1,990 1,309 3,788 6,275 Financial inclusion and applied technologies 441 192 842 733 Subtotal: Operating segments 4,225 1,949 7,801 8,498 Corporate/Eliminations - - - - Total $ 4,225 $ 1,949 $ 7,801 $ 8,498 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 Tax

Income Tax9 Months Ended
Mar. 31, 2018
Income Tax [Abstract]
Income Tax17. 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 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 and nine months ended March 31, 2018, the tax charge was calculated using the expected effective tax rate for the year. The Company's effective tax rate for the three and nine months ended March 31, 2018, was 106.3 55.0 For the three and nine months ended March 31, 2017, the tax charge was calculated using the expected effective tax rate for the year. The Company's effective tax rate for the three and nine months ended March 31, 2017, was 35.0 34.0
New U.S. Tax Legislation On December 22, 2017, the Tax Cuts and Jobs Act (the " TCJA"), was enacted into law, significantly modifying U.S. federal tax laws. The TCJA reduces the federal statutory tax rate for corporations from 35 21 28 22 The Company is currently analyzing the impact of these changes; therefore, an estimate of the full impact on deferred tax assets and liabilities, income tax expense, net income and other affected accounts is not yet available. The Company has a June year end and therefore it will use a blended rate of 28.10 0.3 million. The Company has also provided an additional valuation allowance of approximately $ 0.6 The TCJA also requires a U.S. shareholder of a specified foreign corporation to include a deemed repatriation of foreign earnings as part of the transition to a territorial tax system; however, the Company does not currently believe that it has a deemed repatriation transition tax liability.
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 March 31, 2018 and June 30, 2017, the Company had unrecognized tax benefits of $ 0.5 0.5

Commitments And Contingencies

Commitments And Contingencies9 Months Ended
Mar. 31, 2018
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 108.0 9.1 108.0 9.1 0.4 1.9 The Company has not recognized any obligation related to these counter-guarantees in its consolidated balance sheet as of March 31, 2018. The maximum potential amount that the Company could pay under these guarantees is ZAR 108.0 9.1
Contingencies Challenge to Payment by SASSA of Additional Implementation Costs As the Company previously disclosed, in June 2014, the Company received approximately ZAR 277.0 11.0 In March 2015, Corruption Watch, a South African non-profit civil society organization, commenced a legal proceeding in the High Court of South Africa seeking an order by the Court to review and set aside the decision of SASSA's Chief Executive Officer to approve a payment to CPS of ZAR 317.0 277 On February 22, 2018, the matter was heard by the Gauteng Division, Pretoria of the High Court of South Africa ("High Court"). On March 23, 2018, the High Court ordered that the June 15, 2012 variation agreement between SASSA and CPS be reviewed and set aside. CPS was ordered to refund ZAR 317.0 The Company is subject to a variety of other insignificant claims and suits that arise from time to time in the ordinary course of business. Management currently believes that the resolution of these other 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)9 Months Ended
Mar. 31, 2018
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 and nine months ended March 31, 2018 and 2017, 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, 2017. 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. During the three months ended December 31, 2017, the Company reclassified redeemable common stock out of total equity because redeemable common stock is required to be presented outside of permanent equity. The Company has restated these amounts in its unaudited condensed consolidated balance sheet as at June 30, 2017 and unaudited condensed consolidated statement of changes in equity for the nine months ended March 31, 2018. The reclassification resulted in a decrease in total equity by approximately $107.7 million and an increase in redeemable common stock, presented outside of permanent equity, of approximately $107.7 million. This reclassification had no impact on the Company's previously reported consolidated income, comprehensive income or cash flows. 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 March 31, 2018. 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 March 31, 2018Recent accounting pronouncements not yet adopted as of March 31, 2018 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 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)9 Months Ended
Mar. 31, 2018
Inventory [Abstract]
Schedule Of InventoryMarch 31, June 30, 2018 2017 Finished goods $ 11,808 $ 8,020 $ 11,808 $ 8,020

Fair Value Of Financial Instr28

Fair Value Of Financial Instruments (Tables)9 Months Ended
Mar. 31, 2018
Fair Value Of Financial Instruments [Abstract]
Fair Value Of Assets And Liabilities Measured On Recurring BasisThe following table presents the Company's assets measured at fair value on a recurring basis as of March 31, 2018, according to the fair value hierarchy:
Quoted price in Significant active markets other Significant for identical observable unobservable assets inputs inputs (Level 1) (Level 2) (Level 3) Total Assets Investment in Cell C $ - $ - $ 206,970 $ 206,970 Related to insurance business: Cash and cash equivalents (included in other long-term assets) 701 - - 701 Fixed maturity investments (included in cash and cash equivalents) 9,230 - - 9,230 Other - 40 - 40 Total assets at fair value $ 9,931 $ 40 $ 206,970 $ 216,941
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 Significant in Active Other Significant Markets for Observable Unobservable Identical 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)9 Months Ended
Mar. 31, 2018
Equity-Accounted Investments And Other Long-Term Assets [Abstract]
Ownership Percentage Of Equity-Accounted InvestmentsMarch 31, June 30, 2018 2017 DNI-4PL (Pty) Ltd ("DNI") 49 % - Bank Frick & Co AG ("Bank Frick") 35 % - Finbond Group Limited ("Finbond") 26 % 26 % OneFi Limited (formerly KZ One) ("OneFi") 25 % 25 % SmartSwitch Namibia (Pty) Ltd ("SmartSwitch Namibia") 50 % 50 % Walletdoc Proprietary Limited ("Walletdoc") 20 % 20 %
Summary Of Movement In Equity-Accounted InvestmentsBank DNI Frick Finbond Other (1) Total Investment in equity: Balance as of June 30, 2017 $ - $ - $ 18,961 $ 6,742 $ 25,703 Acquisition of shares 79,541 51,949 1,941 - 133,431 Stock-based compensation - - (207 ) - (207 ) Comprehensive income (loss): 5,202 975 874 111 7,162 Other comprehensive loss - - (227 ) - (227 ) Equity accounted earnings (loss) 5,202 975 1,101 111 7,389 Share of net income (loss) 6,868 1,234 1,931 111 10,144 Amortization of acquired intangible assets (2,315 ) (342 ) - - (2,657 ) Deferred taxes on acquired intangible assets 649 83 - - 732 Dilution resulting from corporate transactions - - (830 ) - (830 ) Dividends received (1,765 ) (1,946 ) (1,096 ) (400 ) (5,207 ) Foreign currency adjustment (2) 7,917 639 2,127 (489 ) 10,194 Balance as of March 31, 2018 $ 90,895 $ 51,617 $ 22,600 $ 5,964 $ 171,076 Investment in loans: Balance as of June 30, 2017 $ - $ - $ - $ 2,159 $ 2,159 Transfer from accounts receivable, net - - 11,772 - 11,772 Foreign currency adjustment (2) - - - 16 16 Balance as of March 31, 2018 $ - $ - $ 11,772 $ 2,175 $ 13,947
(1) Includes OneFi, SmartSwitch Namibia and Walletdoc; (2) The foreign currency adjustment represents the effects of the fluctuations of the South African rand, Nigerian naira and Namibian dollar, against 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 March 31, 2018 $ 171,076 $ 13,947 $ 185,023
Summary Of Other Long-Term AssetMarch 31, June 30, 2018 2017 Investment in 15 $ 206,970 $ - Investment in 12 28,391 26,317 Total equity investments 235,361 26,317 Investment in 7.625 8.625 2022 9,769 - Total held to maturity investments 9,769 - Long-term portion of payments to agents in South Korea amortized over the contract period 19,447 17,290 Policy holder assets under investment contracts (Note 8) 701 627 Reinsurance assets under insurance contracts Note 8) 224 191 Other long-term assets 5,683 5,271 Total other long-term assets $ 271,185 $ 49,696
Summary Of Unrealized Gain (Loss) On InvestmentsUnrealized Unrealized holding holding Carrying Cost basis gains losses value Available for sale: Investment in Cell C $ 169,127 $ 37,843 $ - $ 206,970 Held to maturity: Investment in Cedar Cellular notes 9,000 769 - 9,769 Total 178,127 $ 38,612 $ - $ 216,739
Summary Of Contractual Maturity Of InvestmentCost Estimated basis fair value Due in one year or less $ - $ - Due in one year through five years 9,000 9,769 Due in five years through ten years - - Due after ten years - - Total $ 9,000 $ 9,769

Goodwill And Intangible Asset30

Goodwill And Intangible Assets, Net (Tables)9 Months Ended
Mar. 31, 2018
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 Impairment of goodwill - (19,865 ) (19,865 ) Foreign currency adjustment (1) 13,566 - 13,566 Balance as of March 31, 2018 $ 202,399 $ (19,865 ) $ 182,534 (1) - Represents the effects of the fluctuations of the South African rand, euro and the Korean won, against 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 Impairment of goodwill - (19,865 ) - (19,865 ) Foreign currency adjustment (1) 2,404 9,155 2,007 13,566 Balance as of March 31, 2018 $ 25,535 $ 129,860 $ 27,139 $ 182,534 (1) - Represents the effects of the fluctuations of the South African rand, euro and the Korean won, against the U.S. dollar on the carrying value.
Carrying Value And Accumulated Amortization Of Intangible AssetsAs of March 31, 2018 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 $ 106,620 $ (78,746 ) $ 27,874 $ 99,209 $ (65,595 ) $ 33,614 Software and unpatented technology 35,265 (34,242 ) 1,023 33,273 (31,112 ) 2,161 FTS patent 3,240 (3,240 ) - 2,935 (2,935 ) - Exclusive licenses 4,506 (4,506 ) - 4,506 (4,506 ) - Trademarks 7,493 (5,799 ) 1,694 6,972 (4,759 ) 2,213 Total finite-lived intangible assets 157,124 (126,533 ) 30,591 146,895 (108,907 ) 37,988 Indefinite-lived intangible assets: Financial institution license 837 - 837 776 - 776 Total indefinite-lived intangible assets 837 - 837 776 - 776 Total intangible assets $ 157,961 $ (126,533 ) $ 31,428 $ 147,671 $ (108,907 ) $ 38,764
Future Estimated Annual Amortization ExpenseFiscal 2018 $ 12,915 Fiscal 2019 11,445 Fiscal 2020 10,727 Fiscal 2021 4,620 Fiscal 2022 85 Thereafter 345 Total future estimated annual amortization expense $ 40,137

Reinsurance Assets And Policy31

Reinsurance Assets And Policyholder Liabilities Under Insurance And Investment Contracts (Tables)9 Months Ended
Mar. 31, 2018
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 1,276 (7,881 ) Claims and policyholders' benefits under insurance contracts. (1,263 ) 7,691 Foreign currency adjustment (3) 20 (168 ) Balance as of March 31, 2018 $ 224 $ (1,969 ) (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 ) Increase in policyholder benefits under investment contracts 9 (9 ) Foreign currency adjustment (3) 65 (65 ) Balance as of March 31, 2018 $ 701 $ (701 )
(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)9 Months Ended
Mar. 31, 2018
Short-Term Credit Facilities [Abstract]
Summary Of Short-Term Credit FacilitiesMarch 31, 2018 June 30, 2017 Available Utilized Available Utilized United States: Bank Frick (1) $ 10,000 $ 3,400 $ - $ - Europe: Bank Frick (1) - - 66,579 16,579 South Africa: Nedbank Limited 33,800 9,136 30,600 10,000 Overdraft facility (1) 21,100 - 19,109 - Indirect and derivative facilities (Note 18) $ 12,700 $ 9,136 $ 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)9 Months Ended
Mar. 31, 2018
Capital Structure [Abstract]
Schedule Of Number Of Shares, Net Of TreasuryMarch 31, March 31, 2018 2017 Number of shares, net of treasury: Statement of changes in equity 56,855,187 57,590,085 Less: Non-vested equity shares that have not vested (Note 13) (934,673 ) (904,356 ) Number of shares, net of treasury excluding non-vested equity shares that have not vested 55,920,514 56,685,729

Accumulated Other Comprehensi34

Accumulated Other Comprehensive Loss (Tables)9 Months Ended
Mar. 31, 2018
Accumulated Other Comprehensive Loss [Abstract]
Change In Accumulated Other Comprehensive (Loss) Income Per ComponentNine months ended March 31, 2018 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 ) $ - $ (162,569 ) Movement in foreign currency translation reserve related to equity accounted investment (227 ) - (227 ) Unrealized income on asset available for sale, net of tax of $ 8,477 - 29,366 29,366 Movement in foreign currency translation reserve 59,949 - 59,949 Balance as of March 31, 2018 $ (102,847 ) $ 29,366 $ (73,481 )

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)9 Months Ended
Mar. 31, 2018
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 ($) (in years) ($' ) ($) Outstanding – June 30, 2017 846,607 13.87 3.80 486 Forfeitures (37,333 ) 11.23 Outstanding – March 31, 2018 809,274 13.99 2.92 427 Outstanding – June 30, 2016 2,077,524 15.92 3.65 926 Exercised (68,740 ) 9.15 882 Expired unexercised (474,443 ) 22.51 Outstanding – March 31, 2017 . 1,534,341 14.19 3.88 2,150
Weighted Weighted average average remaining Aggregate exercise contractual intrinsic Number of price term value shares ($) (in years) ($' ) Exercisable – March 31, 2018 809,274 13.99 2.92 427
Restricted Stock ActivityNumber of Weighted shares of average grant restricted date fair value stock ($'000) Non-vested – June 30, 2017 505,473 11,173 Granted – August 2017 588,594 4,288 Granted – March 2018 22,817 234 Vested – August 2017 (56,250 ) 527 Forfeitures (30,635 ) 358 Forfeitures – August and November 2014 awards with market conditions (95,326 ) 1,133 Non-vested – March 31, 2018 934,673 9,608 Non-vested – June 30, 2016 589,447 7,622 Granted – August 2016 387,000 4,145 Vested – August 2016 (72,091 ) 735 Non-vested – March 31, 2017 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 March 31, 2018 Stock-based compensation charge $ 575 $ - $ 575 Total – three months ended March 31, 2018 $ 575 $ - $ 575 Three months ended March 31, 2017 Stock-based compensation charge $ 621 $ - $ 621 Total – three months ended March 31, 2017 $ 621 $ - $ 621
Allocated to cost of goods sold, IT Allocated to processing, selling, general Total servicing and and charge support administration Nine months ended March 31, 2018 Stock-based compensation charge $ 2,052 $ - $ 2,052 Reversal of stock compensation charge related to stock options forfeited (42 ) - (42 ) Total – nine months ended March 31, 2018 $ 2,010 $ - $ 2,010 Nine months ended March 31, 2017 Stock-based compensation charge $ 1,759 $ - $ 1,759 Reversal of stock compensation charge related to restricted stock (1,827 ) - (1,827 ) Total – nine months ended March 31, 2017 $ (68 ) $ - $ (68 )

Earnings Per Share (Tables)

Earnings Per Share (Tables)9 Months Ended
Mar. 31, 2018
Earnings Per Share [Abstract]
Income From Continuing Operations And Share Data Used In Basic And Diluted Earnings Per Share ComputationsThree months ended Nine months ended March 31, March 31, 2018 2017 2018 2017 (in thousands except (in thousands except percent and percent and per share data) per share data) Numerator: Net income attributable to Net1 $ 3,009 $ 18,392 $ 32,114 $ 61,665 Undistributed earnings 3,009 18,392 32,114 61,665 Percent allocated to common shareholders (Calculation 1) 98 % 98 % 98 % 98 % Numerator for earnings per share: basic and diluted $ 2,962 $ 18,064 $ 31,597 $ 60,609 Denominator: Denominator for basic earnings per share: weighted-average common shares outstanding 55,828 53,666 55,874 52,054 Effect of dilutive securities: Stock options 61 169 54 127 Denominator for diluted earnings per share: adjusted weighted average common shares outstanding and assumed conversion 55,889 53,835 55,928 52,181 Earnings per share: Basic $ 0.05 $ 0.34 $ 0.57 $ 1.16 Diluted $ 0.05 $ 0.34 $ 0.56 $ 1.16 (Calculation 1) Basic weighted-average common shares outstanding (A) 55,828 53,666 55,874 52,054 Basic weighted-average common shares outstanding and unvested restricted shares expected to vest (B) 56,716 54,639 56,788 52,961 Percent allocated to common shareholders (A) / (B) 98 % 98 % 98 % 98 %

Supplemental Cash Flow Inform37

Supplemental Cash Flow Information (Tables)9 Months Ended
Mar. 31, 2018
Supplemental Cash Flow Information [Abstract]
Schedule Of Supplemental Cash Flow DisclosuresThree months ended Nine months ended March 31, March 31, 2018 2017 2018 2017 Cash received from interest $ 4,561 $ 5,265 $ 14,409 $ 14,600 Cash paid for interest $ 2,298 $ 435 $ 6,716 $ 2,007 Cash paid for income taxes $ 2,276 $ 3,631 $ 22,925 $ 27,698

Operating Segments (Tables)

Operating Segments (Tables)9 Months Ended
Mar. 31, 2018
Operating Segments [Abstract]
Reconciliation Of Reportable Segments RevenueRevenue From Reportable Inter- external Segment segment customers South African transaction processing $ 73,508 $ 7,429 $ 66,079 International transaction processing 46,240 - 46,240 Financial inclusion and applied technologies 59,574 9,172 50,402 Total for the three months ended March 31, 2018 $ 179,322 $ 16,601 $ 162,721 South African transaction processing $ 63,967 $ 7,331 $ 56,636 International transaction processing 41,514 - 41,514 Financial inclusion and applied technologies 56,881 7,087 49,794 Total for the three months ended March 31, 2017 $ 162,362 $ 14,418 $ 147,944
Revenue From Reportable Inter- external Segment segment customers South African transaction processing $ 204,093 $ 19,755 $ 184,338 International transaction processing 136,447 - 136,447 Financial inclusion and applied technologies 168,018 25,108 142,910 Total for the nine months ended March 31, 2018 $ 508,558 $ 44,863 $ 463,695 South African transaction processing $ 181,397 $ 18,127 $ 163,270 International transaction processing 131,704 - 131,704 Financial inclusion and applied technologies 179,681 19,645 160,036 Total for the nine months ended March 31, 2017 $ 492,782 $ 37,772 $ 455,010
Reconciliation Of Reportable Segments Measure Of Profit Or Loss To IncomeThree months ended Nine months ended March 31, March 31, 2018 2017 2018 2017 Reportable segments measure of profit or loss $ 12,795 $ 31,563 $ 65,579 $ 99,494 Operating income: Corporate/Eliminations (5,231 ) (7,016 ) (16,702 ) (17,177 ) Interest income 5,154 5,124 14,903 14,489 Interest expense (2,426 ) (467 ) (6,872 ) (1,773 ) Income before income taxes $ 10,292 $ 29,204 $ 56,908 $ 95,033
Summary Of Segment InformationThree months ended Nine months ended March 31, March 31, 2018 2017 2018 2017 Revenues South African transaction processing $ 73,508 $ 63,967 $ 204,093 $ 181,397 International transaction processing 46,240 41,514 136,447 131,704 Financial inclusion and applied technologies 59,574 56,881 168,018 179,681 Total 179,322 162,362 508,558 492,782 Operating income (loss) South African transaction processing 12,719 15,531 38,521 44,451 International transaction processing (14,892 ) 1,968 (14,567 ) 11,689 Financial inclusion and applied technologies 14,968 14,064 41,625 43,354 Subtotal: Operating segments 12,795 31,563 65,579 99,494 Corporate/Eliminations (5,231 ) (7,016 ) (16,702 ) (17,177 ) Total 7,564 24,547 48,877 82,317 Depreciation and amortization South African transaction processing 1,236 1,139 3,476 3,433 International transaction processing 4,668 5,083 13,681 16,440 Financial inclusion and applied technologies 398 365 1,062 1,056 Subtotal: Operating segments 6,302 6,587 18,219 20,929 Corporate/Eliminations 3,039 3,703 8,811 10,188 Total 9,341 10,290 27,030 31,117 Expenditures for long-lived assets South African transaction processing 1,794 448 3,171 1,490 International transaction processing 1,990 1,309 3,788 6,275 Financial inclusion and applied technologies 441 192 842 733 Subtotal: Operating segments 4,225 1,949 7,801 8,498 Corporate/Eliminations - - - - Total $ 4,225 $ 1,949 $ 7,801 $ 8,498

Basis Of Presentation And Sum39

Basis Of Presentation And Summary Of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in ThousandsMar. 31, 2018Jun. 30, 2017
Description Of Business And Basis Of Presentation [Abstract]
Redeemable common stock $ 107,672 $ 107,672 [1]
[1]Derived from audited financial statements

Inventory (Schedule Of Inventor

Inventory (Schedule Of Inventory) (Details) - USD ($) $ in ThousandsMar. 31, 2018Jun. 30, 2017
Inventory [Abstract]
Finished goods $ 11,808 $ 8,020
Inventory $ 11,808 $ 8,020 [1]
[1]Derived from audited financial statements

Fair Value Of Financial Instr41

Fair Value Of Financial Instruments (Narrative) (Details) $ in Thousands, R in Billions3 Months Ended9 Months Ended12 Months Ended
Mar. 31, 2018USD ($)contractsharesMar. 31, 2017USD ($)Mar. 31, 2018USD ($)contractsharesMar. 31, 2017USD ($)Dec. 31, 2017ZAR (R)Jun. 30, 2017USD ($)contract
Derivatives, Fair Value [Line Items]
Years of significant fluctuation of US Dollar to ZAR exchange rate3 years
Adjusted EBITDA $ 216,941 $ 216,941 $ 5,824
Transfers in or out of Level 3 $ 0 $ 0 0 $ 0
Impairment charges $ 0
Foreign Exchange Contracts [Member]
Derivatives, Fair Value [Line Items]
Outstanding foreign exchange contracts | contract0 0 0
Cell C [Member]
Derivatives, Fair Value [Line Items]
Adjusted EBITDA $ 309,000 $ 309,000 R 3.7
EBITDA multiple7.20
Net external debt $ 691,600 $ 691,600 R 8.2
Marketability discount10.00%
Equity-accounted investments, ownership percentage15.00%15.00%15.00%
Cell C [Member] | Net1 SA [Member] | Class A [Member]
Derivatives, Fair Value [Line Items]
Investment shares owned | shares75,000,000 75,000,000

Fair Value Of Financial Instr42

Fair Value Of Financial Instruments (Fair Value Of Assets And Liabilities Measured On Recurring Basis) (Details) - USD ($) $ in ThousandsMar. 31, 2018Jun. 30, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Cell C $ 206,970
Cash and cash equivalents (included in other long-term assets)701 $ 627
Fixed maturity investment (included in cash and cash equivalents)9,230 5,160
Other40 37
Total assets at fair value216,941 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)701 627
Fixed maturity investment (included in cash and cash equivalents)9,230 5,160
Total assets at fair value9,931 5,787
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other40 37
Total assets at fair value40 $ 37
Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Cell C206,970
Total assets at fair value $ 206,970

Equity-Accounted Investments 43

Equity-Accounted Investments And Other Long-Term Assets (Narrative) (Details) R / shares in Units, item in Millions, customer in Millions, SFr in Millions, R in MillionsApr. 23, 2018USD ($)Apr. 20, 2018sharesMar. 31, 2018ZAR (R)R / sharessharesMar. 09, 2018ZAR (R)sharesFeb. 09, 2018CHF (SFr)Feb. 09, 2018USD ($)Oct. 02, 2017CHF (SFr)Oct. 02, 2017USD ($)Jul. 27, 2017ZAR (R)sharesJul. 17, 2017sharesJul. 13, 2017ZAR (R)sharesJul. 13, 2017USD ($)sharesDec. 31, 2017USD ($)sharesAug. 31, 2017Jun. 30, 2017USD ($)Aug. 31, 2016USD ($)Mar. 31, 2018USD ($)customeritemApr. 30, 2018USD ($)Mar. 31, 2018USD ($)sharesMar. 09, 2018USD ($)sharesAug. 02, 2017ZAR (R)sharesAug. 02, 2017USD ($)sharesJul. 27, 2017USD ($)sharesOct. 07, 2016ZAR (R)Oct. 07, 2016USD ($)
Market value of holding $ 27,862,000 [1] $ 185,023,000
Acquisition of shares $ 133,431,000
Exercisable option dateOct. 2,
2019
Oct. 2,
2019
Available for sale or held to maturity investments $ 0 $ 216,739,000
OneFi [Member]
Equity-accounted investments, ownership percentage25.00%25.00%25.00%
OneFi [Member] | Convertible Debt [Member]
Maximum borrowing capacity $ 10,000,000
Outstanding amount $ 2,000,000 $ 2,000,000
OneFi [Member] | Additional [Member] | Convertible Debt [Member] | Subsequent Event [Member]
Outstanding amount $ 1,000,000
Finbond [Member]
Maximum borrowing capacity R 139.2 $ 10,000,000
Investment shares owned | shares205,483,967 205,483,967
Share Price | R / shares R 4
Market value of holding R 821.9 $ 69,500,000
Number of additional shares acquired | shares3,600,000 3,600,000
Acquisition of shares $ 1,941,000
Shares received as a capitalization share issue in lieu of a dividend | shares4,361,532
Equity-accounted investments, ownership percentage26.00%26.00%26.00%
Finbond [Member] | Subsequent Event [Member]
Acquisition of shares $ 261,069,481
Equity-accounted investments, ownership percentage27.60%
Finbond [Member] | LIBOR [Member]
Margin added on rate2.31175%
Finbond [Member] | LIBOR Plus Margin [Member]
Margin added on rate12.00%
Finbond [Member] | Additional [Member]
Acquisition of shares R 11.2 $ 800,000
Finbond [Member] | Rights Offering [Member] | Subsequent Event [Member]
Number of additional shares acquired | shares55,585,514
Cedar Cellular [Member]
Purchased notes amount $ 9,000,000
Face value $ 20,500,000
Equity-accounted investments, ownership percentage7.625%7.625%7.625%
Interest rate8.625%8.625%8.625%
Maturity dateAug. 2,
2022
Available for sale or held to maturity investments $ 9,769,000
Bank Frick [Member]
Percentage of ownership interest under purchase agreement30.00%30.00%
Equity acquisition amount under purchase agreement SFr 39.8 $ 40,900,000
Bank Frick [Member] | Additional [Member]
Percentage of ownership interest under purchase agreement35.00%35.00%
Equity-accounted investments, ownership percentage5.00%5.00%
Cell C [Member] | Cedar Cellular [Member] | Class A [Member]
Investment shares owned | shares59,000,000
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 R 945 $ 72,000,000
DNI [Member] | Additional Payment in Cash Subject to Achievement Of Certain Performance Targets [Member]
Subscription of shares, value R 360 $ 30,400,000
DNI [Member] | Additional [Member]
Ordinary A shares subscribed in strategic investments | shares4,000,000 4,000,000
Percentage of voting and economic interest under share subscription49.00%
Subscription of shares, value R 89.3 $ 7,500,000
DNI [Member] | Scenario, Plan [Member]
Ordinary A shares subscribed in strategic investments | shares6,000,000 6,000,000
Percentage of voting and economic interest under share subscription55.00%
Subscription of shares, value R 126 $ 10,700,000
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 | customer65
Number of merchants | item2
Equity investment acquisition period24 months
MobiKwik [Member] | Maximum [Member]
Equity acquisition amount under purchase agreement $ 40,000,000
Net1 SA [Member] | Cell C [Member] | Class A [Member]
Investment shares owned | shares75,000,000 75,000,000
Frick Foundation [Member] | Facilitate Development Of Bank Frick's Fintech And Blockchain [Member]
Contribute amount SFr 3.8 $ 4,100,000
Frick Foundation [Member] | Bank Frick [Member]
Equity acquisition amount under purchase agreement SFr 10.4 $ 11,100,000
Subscription Agreement [Member] | DNI [Member] | Additional [Member]
Subscription of shares, value R 380 $ 32,100,000
Subscription Agreement [Member] | MobiKwik [Member]
Equity acquisition amount under purchase agreement $ 10,600,000 $ 15,000,000
Subscription Agreement [Member] | Net1 SA [Member] | Cell C [Member]
Subscription of shares, value R 2,000 $ 151,000,000,000
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 44

Equity-Accounted Investments And Other Long-Term Assets (Ownership Percentage Of Equity-Accounted Investments) (Details)Mar. 31, 2018Jun. 30, 2017
DNI [Member]
Schedule of Equity Method Investments [Line Items]
Equity-accounted investments, ownership percentage49.00%
Bank Frick [Member]
Schedule of Equity Method Investments [Line Items]
Equity-accounted investments, ownership percentage35.00%
Finbond [Member]
Schedule of Equity Method Investments [Line Items]
Equity-accounted investments, ownership percentage26.00%26.00%
OneFi [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 45

Equity-Accounted Investments And Other Long-Term Assets (Summary Of Movement In Equity-Accounted Investments) (Details) $ in Thousands9 Months Ended
Mar. 31, 2018USD ($)
Investment in equity:
Balance as of, beginning $ 25,703
Acquisition of shares133,431
Stock-based compensation(207)
Comprehensive income (loss):7,162
Other comprehensive loss(227)
Equity accounted earnings (loss)7,389
Share of net income (loss)10,144
Amortization of acquired intangible assets(2,657)
Deferred taxes on acquired intangible assets732
Dilution resulting from corporate transactions(830)
Dividends received(5,207)
Foreign currency adjustment10,194 [1]
Balance as of, ending171,076
Investment in loans:
Balance as of, beginning2,159
Transfer from other receivables, net11,772
Foreign currency adjustment16 [1]
Balance as of, ending13,947
DNI [Member]
Investment in equity:
Balance as of, beginning
Acquisition of shares79,541
Stock-based compensation
Comprehensive income (loss):5,202
Other comprehensive loss
Equity accounted earnings (loss)5,202
Share of net income (loss)6,868
Amortization of acquired intangible assets(2,315)
Deferred taxes on acquired intangible assets649
Dilution resulting from corporate transactions
Dividends received(1,765)
Foreign currency adjustment7,917 [1]
Balance as of, ending90,895
Investment in loans:
Balance as of, beginning
Transfer from other receivables, net
Foreign currency adjustment [1]
Balance as of, ending
Bank Frick [Member]
Investment in equity:
Balance as of, beginning
Acquisition of shares51,949
Stock-based compensation
Comprehensive income (loss):975
Other comprehensive loss
Equity accounted earnings (loss)975
Share of net income (loss)1,234
Amortization of acquired intangible assets(342)
Deferred taxes on acquired intangible assets83
Dilution resulting from corporate transactions
Dividends received(1,946)
Foreign currency adjustment639 [1]
Balance as of, ending51,617
Investment in loans:
Balance as of, beginning
Transfer from other receivables, net
Foreign currency adjustment [1]
Balance as of, ending
Finbond [Member]
Investment in equity:
Balance as of, beginning18,961
Acquisition of shares1,941
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 adjustment2,127 [1]
Balance as of, ending22,600
Investment in loans:
Balance as of, beginning
Transfer from other receivables, net11,772
Foreign currency adjustment [1]
Balance as of, ending11,772
Other [Member]
Investment in equity:
Balance as of, beginning6,742 [2]
Acquisition of shares [2]
Stock-based compensation [2]
Comprehensive income (loss):111 [2]
Other comprehensive loss [2]
Equity accounted earnings (loss)111 [2]
Share of net income (loss)111 [2]
Amortization of acquired intangible assets [2]
Deferred taxes on acquired intangible assets [2]
Dilution resulting from corporate transactions [2]
Dividends received(400)[2]
Foreign currency adjustment(489)[1],[2]
Balance as of, ending5,964 [2]
Investment in loans:
Balance as of, beginning2,159 [2]
Transfer from other receivables, net [2]
Foreign currency adjustment16 [1],[2]
Balance as of, ending $ 2,175 [2]
[1]The foreign currency adjustment represents the effects of the fluctuations of the South African rand, Nigerian naira and Namibian dollar, against the U.S. dollar on the carrying value.
[2]Includes OneFi, SmartSwitch Namibia and Walletdoc;

Equity-Accounted Investments 46

Equity-Accounted Investments And Other Long-Term Assets (Carrying Amount Of Equity-Accounted Investments) (Details) - USD ($) $ in ThousandsMar. 31, 2018Jun. 30, 2017
Equity-Accounted Investments And Other Long-Term Assets [Abstract]
Equity $ 171,076 $ 25,703
Loans13,947 2,159
Total $ 185,023 $ 27,862

Equity-Accounted Investments 47

Equity-Accounted Investments And Other Long-Term Assets (Summary Of Other Long-Term Asset) (Details) - USD ($) $ in Thousands9 Months Ended12 Months Ended
Mar. 31, 2018Jun. 30, 2017
Schedule Of Equity And Held To Maturity Investments [Line Items]
Total equity investments $ 235,361 $ 26,317
Total held to maturity investments9,769
Long-term portion of payments to agents in South Korea amortized over the contract period19,447 17,290
Policy holder assets under investment contracts (Note 8)701 627
Reinsurance assets under insurance contracts (Note 8)224 191
Other long-term assets5,683 5,271
Total other long-term assets271,185 $ 49,696 [1]
Cell C [Member]
Schedule Of Equity And Held To Maturity Investments [Line Items]
Total equity investments $ 206,970
Equity-accounted investments, ownership percentage15.00%15.00%
MobiKwik [Member]
Schedule Of Equity And Held To Maturity Investments [Line Items]
Total equity investments $ 28,391 $ 26,317
Equity-accounted investments, ownership percentage12.00%12.00%
Cedar Cellular [Member]
Schedule Of Equity And Held To Maturity Investments [Line Items]
Total held to maturity investments $ 9,769
Equity-accounted investments, ownership percentage7.625%7.625%
Interest rate8.625%8.625%
Maturity year2,022 2,022
[1]Derived from audited financial statements

Equity-Accounted Investments 48

Equity-Accounted Investments And Other Long-Term Assets (Summary Of Unrealized Gain (Loss) On Investments) (Details) - USD ($) $ in ThousandsMar. 31, 2018Jun. 30, 2017
Schedule Of Equity And Held To Maturity Investments [Line Items]
Cost basis $ 178,127
Unrealized holding gains38,612
Unrealized holding losses
Carrying value216,739 $ 0
Cell C [Member]
Schedule Of Equity And Held To Maturity Investments [Line Items]
Cost basis169,127
Unrealized holding gains37,843
Unrealized holding losses
Carrying value206,970
Cedar Cellular [Member]
Schedule Of Equity And Held To Maturity Investments [Line Items]
Cost basis9,000
Unrealized holding gains769
Unrealized holding losses
Carrying value $ 9,769

Equity-Accounted Investments 49

Equity-Accounted Investments And Other Long-Term Assets (Summary Of Contractual Maturity Of Investment) (Details) $ in ThousandsMar. 31, 2018USD ($)
Equity-Accounted Investments And Other Long-Term Assets [Abstract]
Due in one year through five years, Cost basis $ 9,000
Total, Cost basis9,000
Due in one year through five years, Estimated fair value9,769
Total, Estimated fair value $ 9,769

Goodwill And Intangible Asset50

Goodwill And Intangible Assets, Net (Narrative) (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Mar. 31, 2018Mar. 31, 2017Mar. 31, 2018Mar. 31, 2017
Goodwill And Intangible Assets, Net [Abstract]
Impairment of goodwill $ (19,865) $ (19,865)
Amortization expense $ 3,000 $ 3,700 $ 8,800 $ 10,200

Goodwill And Intangible Asset51

Goodwill And Intangible Assets, Net (Carrying Value Of Goodwill) (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Mar. 31, 2018Mar. 31, 2018
Goodwill And Intangible Assets, Net [Abstract]
Gross value, Beginning Balance $ 188,833
Gross value, Impairment of goodwill
Gross value, Foreign currency adjustment[1]13,566
Gross value, Ending Balance $ 202,399 202,399
Accumulated impairment, Beginning Balance
Accumulated impairment, Impairment of goodwill(19,865)(19,865)
Accumulated impairment, Foreign currency adjustment[1]
Accumulated impairment, Ending Balance(19,865)(19,865)
Carrying value, Beginning Balance[2]188,833
Carrying value, Impairment of goodwill(19,865)(19,865)
Carrying value, Foreign currency adjustment[1]13,566
Carrying value, Ending Balance $ 182,534 $ 182,534
[1]Represents the effects of the fluctuations of the South African rand, euro and the Korean won, against the U.S. dollar on the carrying value.
[2]Derived from audited financial statements

Goodwill And Intangible Asset52

Goodwill And Intangible Assets, Net (Goodwill Allocated To Reportable Segments) (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Mar. 31, 2018Mar. 31, 2018
Goodwill [Line Items]
Carrying value, Beginning Balance[1] $ 188,833
Carrying value, Impairment of goodwill $ (19,865)(19,865)
Carrying value, Foreign currency adjustment[2]13,566
Carrying value, Ending Balance182,534 182,534
South African Transaction Processing [Member]
Goodwill [Line Items]
Carrying value, Beginning Balance23,131
Carrying value, Impairment of goodwill
Carrying value, Foreign currency adjustment[2]2,404
Carrying value, Ending Balance25,535 25,535
International Transaction Processing [Member]
Goodwill [Line Items]
Carrying value, Beginning Balance140,570
Carrying value, Impairment of goodwill(19,865)
Carrying value, Foreign currency adjustment[2]9,155
Carrying value, Ending Balance129,860 129,860
Financial Inclusion And Applied Technologies [Member]
Goodwill [Line Items]
Carrying value, Beginning Balance25,132
Carrying value, Impairment of goodwill
Carrying value, Foreign currency adjustment[2]2,007
Carrying value, Ending Balance $ 27,139 $ 27,139
[1]Derived from audited financial statements
[2]Represents the effects of the fluctuations of the South African rand, euro and the Korean won, against the U.S. dollar on the carrying value.

Goodwill And Intangible Asset53

Goodwill And Intangible Assets, Net (Carrying Value And Accumulated Amortization Of Intangible Assets) (Details) - USD ($) $ in ThousandsMar. 31, 2018Jun. 30, 2017
Finite-Lived And Infinite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Gross carrying value $ 157,124 $ 146,895
Accumulated amortization(126,533)(108,907)
Finite-lived intangible assets, Net carrying value30,591 37,988
Infinite-lived intangible assets837 776
Total intangible assets, Gross carrying value157,961 147,671
Total intangible assets, Net carrying value31,428 38,764 [1]
Financial Institution License [Member]
Finite-Lived And Infinite-Lived Intangible Assets [Line Items]
Accumulated amortization
Finite-lived intangible assets, Net carrying value837 776
Infinite-lived intangible assets837 776
Customer Relationships [Member]
Finite-Lived And Infinite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Gross carrying value106,620 99,209
Accumulated amortization(78,746)(65,595)
Finite-lived intangible assets, Net carrying value27,874 33,614
Software And Unpatented Technology [Member]
Finite-Lived And Infinite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Gross carrying value35,265 33,273
Accumulated amortization(34,242)(31,112)
Finite-lived intangible assets, Net carrying value1,023 2,161
FTS Patent [Member]
Finite-Lived And Infinite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Gross carrying value3,240 2,935
Accumulated amortization(3,240)(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 value7,493 6,972
Accumulated amortization(5,799)(4,759)
Finite-lived intangible assets, Net carrying value $ 1,694 $ 2,213
[1]Derived from audited financial statements

Goodwill And Intangible Asset54

Goodwill And Intangible Assets, Net (Future Estimated Annual Amortization Expense) (Details) $ in ThousandsMar. 31, 2018USD ($)
Goodwill And Intangible Assets, Net [Abstract]
Fiscal 2,018 $ 12,915
Fiscal 2,019 11,445
Fiscal 2,020 10,727
Fiscal 2,021 4,620
Fiscal 2,022 85
Thereafter345
Total future estimated annual amortization expense $ 40,137

Reinsurance Assets And Policy55

Reinsurance Assets And Policyholder Liabilities Under Insurance And Investment Contracts (Summary Of The Movement In Reinsurance Assets And Policyholder Liabilities Under Insurance Contracts) (Details) $ in Thousands9 Months Ended
Mar. 31, 2018USD ($)
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 contracts1,276 [1]
Reinsurance assets, Claims and policyholders' benefits under insurance contracts(1,263)[1]
Reinsurance assets, Foreign currency adjustment20 [1],[2]
Reinsurance assets, Ending Balance224 [1]
Insurance contracts, Beginning Balance(1,611)[3]
Insurance contracts, Increase in policyholder benefits under insurance contracts(7,881)[3]
Policyholder Benefits and Claims Incurred, Net7,691 [3]
Insurance contracts, Foreign currency adjustment(168)[2],[3]
Insurance contracts, Ending Balance $ (1,969)[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 Policy56

Reinsurance Assets And Policyholder Liabilities Under Insurance And Investment Contracts (Summary Of Movement In Assets And Policyholder Liabilities Under Investment Contracts) (Details) $ in Thousands9 Months Ended
Mar. 31, 2018USD ($)
Reinsurance Assets And Policyholder Liabilities Under Insurance And Investment Contracts [Abstract]
Assets, Beginning Balance $ 627 [1]
Assets, Increase in policyholder benefits under investment contracts9 [1]
Assets, Foreign currency adjustment65 [1],[2]
Assets, Ending Balance701 [1]
Investment contracts, Beginning Balance(627)[3]
Investment contracts, Increase in policy holder benefits under investment contracts(9)[3]
Investment contracts, Foreign currency adjustment(65)[2],[3]
Investment contracts, Ending Balance $ (701)[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, SFr in Millions, R in MillionsJan. 29, 2018USD ($)Mar. 31, 2018ZAR (R)Mar. 31, 2018USD ($)Mar. 29, 2018Jun. 30, 2017EUR (€)Jun. 30, 2017CHF (SFr)Jun. 30, 2017ZAR (R)Jun. 30, 2017USD ($)
Short-term Debt [Line Items]
Amount utilized $ 3,400 $ 16,579 [1]
United States [Member] | LIBOR [Member]
Short-term Debt [Line Items]
Interest rate2.31175%
Bank Frick [Member] | United States [Member]
Short-term Debt [Line Items]
Maximum borrowing capacity[2]10,000
Amount utilized[2]3,400
Termination written notice42 days
Bank Frick [Member] | Europe [Member]
Short-term Debt [Line Items]
Maximum borrowing capacity[2]66,579
Amount utilized[2]16,579
Nedbank Limited [Member] | South Africa [Member]
Short-term Debt [Line Items]
Maximum borrowing capacity33,800 30,600
Amount utilized9,136 10,000
South African Credit Facility [Member]
Short-term Debt [Line Items]
Maximum borrowing capacity R 150 12,700
Amount utilized108 R 130.5 10,000
South African Credit Facility [Member] | Nedbank Limited [Member]
Short-term Debt [Line Items]
Aggregate amount400 33,800
Primary amount, available immediately200 16,900
Secondary amount, not available immediately200 16,900
Overdraft Facility [Member]
Short-term Debt [Line Items]
Maximum borrowing capacity R 50 $ 4,200
Interest rate8.85%8.85%
Commitment fee percentage0.35%
Overdraft Facility [Member] | South Africa [Member]
Short-term Debt [Line Items]
Maximum borrowing capacity[2] $ 21,100 19,109
Overdraft Facility [Member] | Bank Frick [Member] | United States [Member]
Short-term Debt [Line Items]
Maximum borrowing capacity $ 10,000
Interest rate4.50%
Revolving Overdraft Facility One [Member] | Bank Frick [Member] | Europe [Member]
Short-term Debt [Line Items]
Maximum borrowing capacity | € € 40
Amount utilized0
Revolving Overdraft Facility Two [Member] | Bank Frick [Member] | Europe [Member]
Short-term Debt [Line Items]
Maximum borrowing capacity | SFr SFr 20
Amount utilized SFr 15.9 16,600
Indirect And Derivative Facilities [Member] | South Africa [Member]
Short-term Debt [Line Items]
Maximum borrowing capacity12,700 11,491
Amount utilized $ 9,136 $ 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, R in MillionsMar. 31, 2018ZAR (R)Mar. 31, 2018USD ($)Jan. 29, 2018USD ($)Jun. 30, 2017USD ($)
Short-term facility utilized $ 3,400 $ 16,579 [1]
Overdraft Facility [Member]
Short-term facility available R 50 4,200
South Africa [Member] | Overdraft Facility [Member]
Short-term facility available[2]21,100 19,109
South Africa [Member] | Indirect And Derivative Facilities [Member]
Short-term facility available12,700 11,491
Short-term facility utilized9,136 10,000
Bank Frick [Member] | United States [Member]
Short-term facility available[2]10,000
Short-term facility utilized[2]3,400
Bank Frick [Member] | United States [Member] | Overdraft Facility [Member]
Short-term facility available $ 10,000
Bank Frick [Member] | Europe [Member]
Short-term facility available[2]66,579
Short-term facility utilized[2]16,579
Nedbank Limited [Member] | South Africa [Member]
Short-term facility available33,800 30,600
Short-term facility utilized $ 9,136 $ 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 BillionsJun. 29, 2018ZAR (R)Jun. 29, 2018USD ($)Mar. 09, 2018ZAR (R)Mar. 09, 2018USD ($)Mar. 08, 2018ZAR (R)Oct. 20, 2017USD ($)Sep. 29, 2017itemJul. 29, 2017KRW (₩)Jul. 29, 2017USD ($)Jul. 26, 2017ZAR (R)Jul. 26, 2017USD ($)Mar. 31, 2018ZAR (R)Mar. 31, 2018USD ($)Aug. 31, 2017ZAR (R)Aug. 31, 2017USD ($)Mar. 31, 2018USD ($)Mar. 31, 2017USD ($)Mar. 31, 2018ZAR (R)Mar. 31, 2018USD ($)Mar. 31, 2017USD ($)Mar. 09, 2018USD ($)
South Africa [Member] | Facilities Agreement [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity R 210,000,000 $ 17,800,000 $ 17,800,000 $ 17,800,000
Outstanding amount75,500,000 75,500,000 75,500,000
Facilities fees paid R 2,400,000 $ 200,000 R 6,300,000 $ 600,000
Interest expense1,900,000 5,500,000
Amortization of fees, prepaid facility100,000 300,000
Maturity dateMar. 31,
2020
South Africa [Member] | Cell C [Member]
Debt Instrument [Line Items]
Percentage acquired in acquisition15.00%15.00%
South Africa [Member] | Cell C [Member] | Facilities Agreement [Member]
Debt Instrument [Line Items]
Amount utilized from revolving credit facility R 1,250,000,000 $ 92,200,000
Repayment of facilities R 562,500,000 44,400,000
Number of quarter installments | item12
South Africa [Member] | Cell C [Member] | Facilities Agreement [Member] | Forecast [Member]
Debt Instrument [Line Items]
Scheduled principal payment R 213,800,000 $ 18,100,000
South Africa [Member] | Cell C [Member] | Unable To Acquire 6% In DNI [Member] | Facilities Agreement [Member] | Forecast [Member]
Debt Instrument [Line Items]
Scheduled principal payment R 324,000,000 $ 27,400,000
South Africa [Member] | DNI [Member] | Facilities Agreement [Member]
Debt Instrument [Line Items]
Amount utilized from revolving credit facility R 84,000,000 $ 7,100,000
Percentage acquired in acquisition4.00%4.00%
Loan amount R 126,000,000 $ 10,600,000
South Africa [Member] | JIBAR [Member] | Facilities Agreement [Member]
Debt Instrument [Line Items]
Margin added on rate2.75%
South Africa [Member] | JIBAR [Member] | Facilities Agreement [Member] | Forecast [Member]
Debt Instrument [Line Items]
Interest rate6.867%6.867%
South Korea [Member]
Debt Instrument [Line Items]
Interest expense300,000 $ 300,000 400,000 $ 900,000
Amortization of fees, prepaid facility $ 30,000 $ 30,000 $ 100,000 $ 90,000
South Korea [Member] | Facility C [Member]
Debt Instrument [Line Items]
Amount utilized from revolving credit facility ₩ 0.3 $ 300,000
South Korea [Member] | Korean Senior Secured Loan Facility [Member]
Debt Instrument [Line Items]
Repayment of facilities $ 16,600,000

Capital Structure (Narrative) (

Capital Structure (Narrative) (Details) - USD ($) $ in MillionsJun. 29, 2016Feb. 29, 2016Mar. 31, 2018Mar. 31, 2017Mar. 31, 2018Mar. 31, 2017
Common stock repurchased, shares0 0 0 3,137,609
Purchase price of common stock $ 31.6
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) - sharesMar. 31, 2018Mar. 31, 2017
Capital Structure [Abstract]
Number of shares, net of treasury: Statement of changes in equity56,855,187 57,590,085
Less: Non-vested equity shares that have not vested (Note 13)(934,673)(904,356)
Number of shares, net of treasury excluding non-vested equity shares that have not vested55,920,514 56,685,729

Accumulated Other Comprehensi62

Accumulated Other Comprehensive Loss (Narrative) (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Mar. 31, 2018Mar. 31, 2017Mar. 31, 2018Mar. 31, 2017
Accumulated Other Comprehensive Loss [Abstract]
Reclassification from accumulated other comprehensive (loss) income $ 0 $ 0 $ 0 $ 0

Accumulated Other Comprehensi63

Accumulated Other Comprehensive Loss (Change In Accumulated Other Comprehensive (Loss) Income Per Component) (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Mar. 31, 2018Mar. 31, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance[1] $ (162,569)
Movement in foreign currency translation reserve related to equity accounted investment(227)
Unrealized income on asset available for sale, net of tax of $7,926 $ 29,366 29,366
Movement in foreign currency translation reserve59,949
Ending Balance(73,481)(73,481)
Unrealized income on asset available for sale, tax8,477
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)
Unrealized income on asset available for sale, net of tax of $7,926
Movement in foreign currency translation reserve59,949
Ending Balance(102,847)(102,847)
Accumulated Net Unrealized Income 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
Unrealized income on asset available for sale, net of tax of $7,92629,366
Movement in foreign currency translation reserve
Ending Balance $ 29,366 $ 29,366
[1]Derived from audited financial statements

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in ThousandsMar. 01, 2020Mar. 01, 2019Aug. 23, 2017Jun. 30, 2017Mar. 31, 2018Aug. 31, 2017May 31, 2017Aug. 31, 2016May 31, 2016Aug. 31, 2015Mar. 31, 2018Mar. 31, 2017Mar. 31, 2018Mar. 31, 2017Jun. 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 $ 575 $ 621 $ 2,010 $ (68)
Share-based compensation, number of shares exercised68,740
Number of shares, forfeitures37,333
Number of shares, exercised0
Deferred tax asset $ 900 $ 700 $ 700 $ 700 $ 900
Common stock, shares issued56,369,737 56,855,187 56,855,187 56,855,187 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
Restricted Stock [Member] | Forecast [Member] | Chief Financial Officer [Member] | Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested number of shares of restricted stock11,409
Restricted Stock [Member] | Forecast [Member] | Chief Financial Officer [Member] | Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested number of shares of restricted stock11,408
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expired unexercised, number of shares474,443
Granted, Number of shares0
Unrecognized compensation cost $ 0 $ 0 $ 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 shares22,817 588,594 387,000
Fair value of restricted stock vested $ 500 $ 700
Unrecognized compensation cost $ 4,000 4,000 4,000
Cumulative unrecorded stock-based compensation charge $ 3,200
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
Reversed stock-based compensation charge, shares301,537 301,537
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 $ 3,900 $ 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 Thousands9 Months Ended12 Months Ended
Mar. 31, 2018Mar. 31, 2017Jun. 30, 2017Jun. 30, 2016
Stock-Based Compensation [Abstract]
Outstanding, Number of shares, Beginning Balance846,607 2,077,524 2,077,524
Exercised, Number of shares(68,740)
Expired unexercised, Number of shares(474,443)
Forfeitures, Number of shares(37,333)
Outstanding, Number of shares, Ending Balance809,274 1,534,341 846,607 2,077,524
Exercisable, Number of Shares809,274
Outstanding, Weighted average exercise price, Beginning Balance $ 13.87 $ 15.92 $ 15.92
Exercised, Weighted average exercise price9.15
Expired unexercised, Weighted average exercise price22.51
Forfeitures, Weighted average exercise price11.23
Outstanding, Weighted average exercise price, Ending Balance13.99 $ 14.19 $ 13.87 $ 15.92
Exercisable, Weighted average exercise price $ 13.99
Outstanding, Weighted average remaining contractual term (in years)2 years 11 months 1 day3 years 10 months 17 days3 years 9 months 18 days3 years 7 months 24 days
Exercisable, Weighted average remaining contractual term (in years)2 years 11 months 1 day
Outstanding, Aggregate intrinsic value, Beginning Balance $ 486 $ 926 $ 926
Exercised, Aggregate Intrinsic Value882
Outstanding, Aggregate intrinsic value, Ending Balance427 $ 2,150 $ 486 $ 926
Exercisable, Aggregate intrinsic value $ 427

Stock-Based Compensation (Restr

Stock-Based Compensation (Restricted Stock Activity) (Details) - USD ($) $ in Thousands1 Months Ended9 Months Ended
Mar. 31, 2018Aug. 31, 2017Aug. 31, 2016Mar. 31, 2018Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested, Number of Shares of Restricted Stock, Ending Balance934,673 934,673 904,356
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 Stock22,817 588,594 387,000
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 Balance934,673 934,673 904,356
Non-vested, Weighted Average Grant Date Fair Value, Beginning Balance $ 11,173 $ 7,622
Granted, Weighted Average Grant Date Fair Value $ 234 $ 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 $ 9,608 $ 9,608 $ 11,142
Restricted Stock [Member] | August And November 2014 Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Forfeitures, Number of Shares of Restricted Stock(95,326)(95,326)
Forfeitures, Weighted Average Grant Date Fair Value $ 1,133

Stock-Based Compensation (Recor

Stock-Based Compensation (Recorded Net Stock Compensation (Reversal) Charge) (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Mar. 31, 2018Mar. 31, 2017Mar. 31, 2018Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation charge $ 575 $ 621 $ 2,052 $ 1,759
Reversal of stock compensation charge related to stock options forfeited(42)
Reversal of stock compensation charge related to restricted stock(1,827)
Total575 621 2,010 (68)
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
Total
Allocated To Selling, General And Administration [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation charge575 621 2,052 1,759
Reversal of stock compensation charge related to stock options forfeited(42)
Reversal of stock compensation charge related to restricted stock(1,827)
Total $ 575 $ 621 $ 2,010 $ (68)

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands3 Months Ended9 Months Ended
Mar. 31, 2018Mar. 31, 2017Mar. 31, 2018Mar. 31, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Redemptions or adjustments to the carrying value of redeemable common stock $ 0 $ 0 $ 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 share288,692 351,828
Options exercise price range, lower limit $ 10.59 $ 10.59
Options exercise price range, upper limit $ 24.46 $ 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 Ended9 Months Ended
Mar. 31, 2018Mar. 31, 2017Mar. 31, 2018Mar. 31, 2017
Earnings Per Share [Abstract]
Net income attributable to Net1 $ 3,009 $ 18,392 $ 32,114 $ 61,665
Undistributed earnings $ 3,009 $ 18,392 $ 32,114 $ 61,665
Percent allocated to common shareholders98.00%98.00%98.00%98.00%
Numerator for earnings per share: basic and diluted $ 2,962 $ 18,064 $ 31,597 $ 60,609
Denominator for basic earnings per share: weighted-average common shares outstanding55,828 53,666 55,874 52,054
Effect of dilutive securities: Stock options61 169 54 127
Denominator for diluted earnings per share: adjusted weighted average common shares outstanding and assumed conversion55,889 53,835 55,928 52,181
Earnings per share: Basic $ 0.05 $ 0.34 $ 0.57 $ 1.16
Earnings per share: Diluted $ 0.05 $ 0.34 $ 0.56 $ 1.16
Basic weighted-average common shares outstanding (A)55,828 53,666 55,874 52,054
Basic weighted-average common shares outstanding and unvested restricted shares expected to vest (B)56,716 54,639 56,788 52,961

Supplemental Cash Flow Inform70

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 Inform71

Supplemental Cash Flow Information (Schedule Of Supplemental Cash Flow Disclosures) (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Mar. 31, 2018Mar. 31, 2017Mar. 31, 2018Mar. 31, 2017
Supplemental Cash Flow Information [Abstract]
Cash received from interest $ 4,561 $ 5,265 $ 14,409 $ 14,600
Cash paid for interest2,298 435 6,716 2,007
Cash paid for income taxes $ 2,276 $ 3,631 $ 22,925 $ 27,698

Operating Segments (Reconciliat

Operating Segments (Reconciliation Of Reportable Segments Revenue) (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Mar. 31, 2018Mar. 31, 2017Mar. 31, 2018Mar. 31, 2017
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues $ 162,721 $ 147,944 $ 463,695 $ 455,010
South African Transaction Processing [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues66,079 56,636 184,338 163,270
International Transaction Processing [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues46,240 41,514 136,447 131,704
Financial Inclusion And Applied Technologies [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues50,402 49,794 142,910 160,036
Reportable Segment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues179,322 162,362 508,558 492,782
Reportable Segment [Member] | South African Transaction Processing [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues73,508 63,967 204,093 181,397
Reportable Segment [Member] | International Transaction Processing [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues46,240 41,514 136,447 131,704
Reportable Segment [Member] | Financial Inclusion And Applied Technologies [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues59,574 56,881 168,018 179,681
Inter-Segment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues(16,601)(14,418)(44,863)(37,772)
Inter-Segment [Member] | South African Transaction Processing [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues(7,429)(7,331)(19,755)(18,127)
Inter-Segment [Member] | Financial Inclusion And Applied Technologies [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues $ (9,172) $ (7,087) $ (25,108) $ (19,645)

Operating Segments (Reconcili73

Operating Segments (Reconciliation Of Reportable Segments Measure Of Profit Or Loss To Income) (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Mar. 31, 2018Mar. 31, 2017Mar. 31, 2018Mar. 31, 2017
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income $ 7,564 $ 24,547 $ 48,877 $ 82,317
Interest income5,154 5,124 14,903 14,489
Interest expense(2,426)(467)(6,872)(1,773)
Income before income taxes10,292 29,204 56,908 95,033
Reportable Segment [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income12,795 31,563 65,579 99,494
Corporate/Eliminations [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income $ (5,231) $ (7,016) $ (16,702) $ (17,177)

Operating Segments (Summary Of

Operating Segments (Summary Of Segment Information) (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Mar. 31, 2018Mar. 31, 2017Mar. 31, 2018Mar. 31, 2017
Segment Reporting Information [Line Items]
Revenues $ 162,721 $ 147,944 $ 463,695 $ 455,010
Operating income (loss)7,564 24,547 48,877 82,317
Depreciation and amortization9,341 10,290 27,030 31,117
Expenditures for long-lived assets4,225 1,949 7,801 8,498
Reportable Segment [Member]
Segment Reporting Information [Line Items]
Revenues179,322 162,362 508,558 492,782
Operating income (loss)12,795 31,563 65,579 99,494
Depreciation and amortization6,302 6,587 18,219 20,929
Expenditures for long-lived assets4,225 1,949 7,801 8,498
Corporate/Eliminations [Member]
Segment Reporting Information [Line Items]
Operating income (loss)(5,231)(7,016)(16,702)(17,177)
Depreciation and amortization3,039 3,703 8,811 10,188
Expenditures for long-lived assets
South African Transaction Processing [Member] | Reportable Segment [Member]
Segment Reporting Information [Line Items]
Revenues73,508 63,967 204,093 181,397
Operating income (loss)12,719 15,531 38,521 44,451
Depreciation and amortization1,236 1,139 3,476 3,433
Expenditures for long-lived assets1,794 448 3,171 1,490
International Transaction Processing [Member] | Reportable Segment [Member]
Segment Reporting Information [Line Items]
Revenues46,240 41,514 136,447 131,704
Operating income (loss)(14,892)1,968 (14,567)11,689
Depreciation and amortization4,668 5,083 13,681 16,440
Expenditures for long-lived assets1,990 1,309 3,788 6,275
Financial Inclusion And Applied Technologies [Member] | Reportable Segment [Member]
Segment Reporting Information [Line Items]
Revenues59,574 56,881 168,018 179,681
Operating income (loss)14,968 14,064 41,625 43,354
Depreciation and amortization398 365 1,062 1,056
Expenditures for long-lived assets $ 441 $ 192 $ 842 $ 733

Income Tax (Narrative) (Details

Income Tax (Narrative) (Details) - USD ($) $ in MillionsJan. 01, 2018Dec. 22, 2017Mar. 31, 2018Mar. 31, 2017Mar. 31, 2018Mar. 31, 2017Jun. 30, 2018Jun. 30, 2017
Valuation Allowance [Line Items]
Effective tax rate106.30%35.00%55.00%34.00%
Income tax rate35.00%
Deferred taxes included in income tax expense $ 0.3
Additional valuation allowance $ 0.6 0.6
Unrecognized tax benefit0.5 0.5 $ 0.5
Changes in unrecognized tax benefits0
Accrued interest related to uncertain tax positions $ 0.1 $ 0.1
Forecast [Member]
Valuation Allowance [Line Items]
Blended rate28.10%
Tax Year 2018 [Member]
Valuation Allowance [Line Items]
Income tax rate21.00%
South Africa [Member]
Valuation Allowance [Line Items]
Income tax rate28.00%
South Korea [Member]
Valuation Allowance [Line Items]
Income tax rate22.00%

Commitments And Contingencies (

Commitments And Contingencies (Narrative) (Details) item in Millions, R in Millions, $ in Millions1 Months Ended
Feb. 28, 2018ZAR (R)Mar. 31, 2015ZAR (R)Jun. 30, 2014ZAR (R)itemMar. 31, 2018ZAR (R)Mar. 31, 2018USD ($)
Guarantor Obligations [Line Items]
Maximum payment amount under guarantee R 108 $ 9.1
Additional Implementation Costs [Member] | Excluding VAT [Member]
Guarantor Obligations [Line Items]
Proceeds received from SASSA R 277
Counter Guarantee [Member]
Guarantor Obligations [Line Items]
Guarantee amount R 108 $ 9.1
Payment Guarantee [Member] | Minimum [Member]
Guarantor Obligations [Line Items]
Charge rate0.40%0.40%
Payment Guarantee [Member] | Maximum [Member]
Guarantor Obligations [Line Items]
Charge rate1.90%1.90%
Nedbank [Member] | Guarantee [Member]
Guarantor Obligations [Line Items]
Guarantee amount R 108 $ 9.1
CPS [Member] | Additional Implementation Costs [Member]
Guarantor Obligations [Line Items]
Number of additional registrations | item11
Amount ordered to refund to SASSA R 317
SASSA [Member] | Additional Implementation Costs [Member]
Guarantor Obligations [Line Items]
Amount to approve a payment to CPS R 317
SASSA [Member] | Additional Implementation Costs [Member] | Excluding VAT [Member]
Guarantor Obligations [Line Items]
Amount to approve a payment to CPS R 277