Accounts Receivable, Contract Assets, and Contract Liabilities (Tables)

6 Months Ended

Jul. 31, 2021

Receivables [Abstract]

Accounts Receivable

Accounts receivable, net, classified as current, consisted of the following (dollars in thousands):

	July 31, 2021		January 30, 2021
Trade accounts receivable	$	327,481	$	352,501
Unbilled accounts receivable	584,960		492,324
Retainage	18,206		14,974
Total	930,647		859,799
Less: allowance for doubtful accounts	(1,527)		(1,676)
Accounts receivable, net	$	929,120	$	858,123

The allowance for doubtful accounts changed as follows (dollars in thousands):

	For the Three Months Ended				For the Six Months Ended
	July 31, 2021		July 25, 2020		July 31, 2021		July 25, 2020
Cumulative effect from implementation of ASU 2016-13	$	—	$	—	$	—	$	471
Allowance for doubtful accounts at beginning of period	4,237		5,166		1,676		4,582
Provision for bad debt	78		119		2,901		236
Amounts charged against the allowance	(2,788)		(3,680)		(3,050)		(3,684)
Allowance for doubtful accounts at end of period	$	1,527	$	1,605	$	1,527	$	1,605

Contract Assets and Contract Liabilities

Net contract assets consisted of the following (dollars in thousands):

	July 31, 2021		January 30, 2021
Contract assets	$	163,691	$	197,110
Contract liabilities	13,486		14,101
Contract assets, net	$	150,205	$	183,009

Customer Credit Concentration

Customers whose combined amounts of accounts receivable and contract assets, net, exceeded 10% of total combined accounts receivable and contract assets, net, as of July 31, 2021 or January 30, 2021 were as follows (dollars in millions):

	July 31, 2021			January 30, 2021
	Amount		% of Total	Amount		% of Total
Verizon Communications Inc.	$	333.7	30.9%	$	389.9	37.4%
Lumen Technologies(1)	$	163.4	15.1%	$	173.5	16.6%
Comcast Corporation	$	131.5	12.2%	$	131.7	12.6%

Customers whose contract revenues exceeded 10% of total contract revenues during the three and six months ended July 31, 2021 or July 25, 2020, as well as total contract revenues from all other customers combined, were as follows (dollars in millions):

	For the Three Months Ended						For the Six Months Ended
	July 31, 2021			July 25, 2020			July 31, 2021			July 25, 2020
	Amount		% of Total	Amount		% of Total	Amount		% of Total	Amount		% of Total
AT&T Inc.	$	177.5	22.5%	$	134.6	16.3%	$	333.1	22.0%	$	288.6	17.6%
Comcast Corporation	121.7		15.5	131.4		15.9	252.8		16.7	249.3		15.2
Verizon Communications Inc.	90.8		11.5	163.0		19.8	182.3		12.0	339.1		20.7
Lumen Technologies(1)	95.4		12.1	158.4		19.2	181.2		12.0	307.1		18.7
Total other customers combined	302.2		38.4	236.5		28.7	565.7		37.3	454.1		27.7
Total contract revenues	$	787.6	100.0%	$	823.9	100.0%	$	1,515.1	100.0%	$	1,638.2	100.0%

Total contract revenues by customer type during the three and six months ended July 31, 2021 and July 25, 2020 were as follows (dollars in millions):

	For the Three Months Ended						For the Six Months Ended
	July 31, 2021			July 25, 2020			July 31, 2021			July 25, 2020
	Amount		% of Total	Amount		% of Total	Amount		% of Total	Amount		% of Total
Telecommunications	$	697.5	88.6%	$	746.7	90.6%	$	1,337.2	88.3%	$	1,472.7	89.9%
Underground facility locating	65.8		8.3	58.9		7.2	130.7		8.6	112.3		6.9
Electrical and gas utilities and other	24.3		3.1	18.3		2.2	47.2		3.1	53.2		3.2
Total contract revenues	$	787.6	100.0%	$	823.9	100.0%	$	1,515.1	100.0%	$	1,638.2	100.0%