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Concentration of Credit Risk
9 Months Ended
Oct. 27, 2018
Risks and Uncertainties [Abstract]  
Concentration of Credit Risk
18. Customer Concentration and Revenue Information

Geographic Location

The Company provides services throughout the United States and previously in Canada. Revenues from services provided in Canada were not material during the three or nine months ended October 27, 2018 or October 28, 2017.

Significant Customers

The Company’s customer base is highly concentrated, with its top five customers during the nine months ended October 27, 2018 and October 28, 2017 accounting for approximately 78.3% and 76.7%, respectively, of its total contract revenues. Customers whose contract revenues exceeded 10% of total contract revenues during the three or nine months ended October 27, 2018 or October 28, 2017, as well as total contract revenues from all other customers combined, were as follows (dollars in millions):
 
For the Three Months Ended
 
For the Nine Months Ended
 
October 27, 2018
 
October 28, 2017
 
October 27, 2018
 
October 28, 2017
 
Amount
 
% of Total
 
Amount
 
% of Total
 
Amount
 
% of Total
 
Amount
 
% of Total
Comcast Corporation
$
176.3

 
20.8%
 
$
165.0

 
21.8%
 
$
506.7

 
21.3
%
 
$
471.0

 
20.3
%
Verizon Communications Inc.
174.1

 
20.5
 
80.6

 
10.7
 
443.5

 
18.6

 
225.7

 
9.7

AT&T Inc.
164.6

 
19.4
 
143.5

 
19.0
 
506.8

 
21.3

 
520.1

 
22.4

CenturyLink, Inc.(1)
118.8

 
14.0
 
146.1

 
19.3
 
316.0

 
13.3

 
457.6

 
19.7

Total other customers combined
214.4

 
25.3
 
221.0

 
29.2
 
606.1

 
25.5
 
648.3

 
27.9
Total contract revenues
$
848.2

 
100.0%
 
$
756.2

 
100.0%
 
$
2,379.1

 
100.0
%
 
$
2,322.7

 
100.0
%


(1) For comparison purposes in the table above, amounts from CenturyLink, Inc. and Level 3 Communications, Inc. have been combined for periods prior to their November 2017 merger.

See Note 6, Accounts Receivable, Contract Assets, and Contract Liabilities, for information on the Company’s customer credit concentration and collectability of trade accounts receivable and contract assets.

Customer Type

Total contract revenues by customer type during the three and nine months ended October 27, 2018 and October 28, 2017 were as follows (dollars in millions):
 
For the Three Months Ended
 
For the Nine Months Ended
 
October 27, 2018
 
October 28, 2017
 
October 27, 2018
 
October 28, 2017
 
Amount
 
% of Total
 
Amount
 
% of Total
 
Amount
 
% of Total
 
Amount
 
% of Total
Telecommunications
$
773.2

 
91.1%
 
$
687.3

 
90.9%
 
$
2,167.1

 
91.1%
 
$
2,124.7

 
91.5%
Underground facility locating
48.8

 
5.8
 
48.4

 
6.4
 
142.9

 
6.0
 
138.0

 
5.9
Electrical and gas utilities and other
26.2

 
3.1
 
20.5

 
2.7
 
69.1

 
2.9
 
60.0

 
2.6
Total contract revenues
$
848.2

 
100.0%
 
$
756.2

 
100.0%
 
$
2,379.1

 
100.0%
 
$
2,322.7

 
100.0%


Remaining Performance Obligations

Master service agreements and other contractual agreements with customers contain customer-specified service requirements, such as discrete pricing for individual tasks. In most cases, the Company’s customers are not contractually committed to procure specific volumes of services under these agreements.

Services are generally performed pursuant to these agreements in accordance with individual work orders. An individual work order generally is completed within one year or in many cases, less than one week. As a result, the Company’s remaining performance obligations under the work orders not yet completed is not meaningful in relation to the Company’s overall revenue at any given point in time. The Company applies the practical expedient in Accounting Standards Codification Topic 606, Revenue from Contracts with Customers, and does not disclose information about remaining performance obligations that have original expected durations of one year or less.