Customer Concentration and Revenue Information

12 Months Ended

Jan. 25, 2020

Customer Concentration and Revenue Information

Geographic Location

We provide services throughout the United States.

Significant Customers

Our customer base is highly concentrated, with our top five customers accounting for approximately 78.4%, 78.4%, 75.8%, and 76.8%, of our total contract revenues during fiscal 2020, fiscal 2019, the 2018 transition period, and fiscal 2017, respectively. Customers whose contract revenues exceeded 10% of total contract revenues during fiscal 2020, fiscal 2019, the 2018 transition period, or fiscal 2017, as well as total contract revenues from all other customers combined, were as follows:



	Fiscal Year Ended						Six Months Ended		Fiscal Year Ended
	January 25, 2020			January 26, 2019			January 27, 2018		July 29, 2017
	Amount		% of Total	Amount		% of Total	Amount	% of Total	Amount	% of Total
Verizon Communications Inc.⁽¹⁾	$728.2		21.8%	$599.8		19.2%	$168.7	12.0%	$282.7	9.2%
AT&T Inc.	687.9		20.6%	664.2		21.2%	290.1	20.6%	806.7	26.3%
Century Link, Inc.⁽²⁾	547.8		16.4%	425.6		13.6%	247.0	17.5%	556.8	18.2%
Comcast Corporation	503.2		15.1%	650.2		20.8%	304.4	21.6%	543.6	17.7%
Total other customers combined	872.6		26.1%	787.9		25.2%	401.1	28.3%	877.1	28.6%
Total contract revenues	$	3,339.7	100.0%	$	3,127.7	100.0%	$1,411.3	100.0%	$3,066.9	100.0%

⁽¹⁾For comparison purposes in the table above, amounts from Verizon Communications Inc. and XO Communications LLC’s fiber-optic network business have been combined for periods prior to their February 2017 merger.

⁽²⁾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 our customer credit concentration and collectability of trade accounts receivable and contract assets.

On February 25, 2019, Windstream, our fifth largest customer with contract revenues of $113.6 million during fiscal 2019, filed a voluntary petition under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York. We expect to continue to provide services to Windstream pursuant to existing contractual obligations but the amount of services performed in the future could be reduced or eliminated.

Customer Type

Total contract revenues by customer type during fiscal 2020, fiscal 2019, the 2018 transition period, and fiscal 2017 were as follows (dollars in millions):



	Fiscal Year Ended						Six Months Ended			Fiscal Year Ended
	January 25, 2020			January 26, 2019			January 27, 2018			July 29, 2017
	Amount		% of Total	Amount		% of Total	Amount		% of Total	Amount		% of Total
Telecommunications	$	3,031.9	90.8%	$	2,855.8	91.3%	$	1,284.1	91.0%	$	2,819.9	91.9%
Underground facility locating	204.5		6.1%	182.7		5.8%	88.6		6.3%	167.9		5.5%
Electrical and gas utilities and other	103.3		3.1%	89.2		2.9%	38.6		2.7%	79.1		2.6%
Total contract revenues	$	3,339.7	100.0%	$	3,127.7	100.0%	$	1,411.3	100.0%	$	3,066.9	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, our 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. As a result, our remaining performance obligations under the work orders not yet completed is not meaningful in relation to our overall revenue at any given point in time. We apply the practical expedient in Accounting Standards Codification Topic 606, Revenue from Contracts with Customers, and do not disclose information about remaining performance obligations that have original expected durations of one year or less.