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

3 Months Ended

Apr. 30, 2022

Receivables [Abstract]

Accounts Receivable

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

	April 30, 2022		January 29, 2022
Trade accounts receivable	$	366,587	$	330,811
Unbilled accounts receivable	607,960		545,493
Retainage	21,165		20,318
Total	995,712		896,622
Less: allowance for doubtful accounts	(761)		(724)
Accounts receivable, net	$	994,951	$	895,898

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

	For the Three Months Ended
	April 30, 2022		May 1, 2021
Allowance for doubtful accounts at beginning of period	$	724	$	1,676
Provision for bad debt	32		2,823
Amounts recovered (charged) against the allowance	5		(262)
Allowance for doubtful accounts at end of period	$	761	$	4,237

Contract Assets and Contract Liabilities

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

	April 30, 2022		January 29, 2022
Contract assets	$	33,646	$	24,539
Contract liabilities	16,024		18,512
Contract assets, net	$	17,622	$	6,027

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 April 30, 2022 or January 29, 2022 were as follows (dollars in millions):

	April 30, 2022			January 29, 2022
	Amount		% of Total	Amount		% of Total
Lumen Technologies	$	193.0	19.1%	$	166.0	18.4%
Verizon Communications Inc.	$	148.2	14.7%	$	144.3	16.0%
AT&T Inc.	$	140.0	13.8%	$	106.0	11.7%
Comcast Corporation	$	125.7	12.4%	$	113.5	12.6%

Customers whose contract revenues exceeded 10% of total contract revenues during the three months ended April 30, 2022 or May 1, 2021, as well as total contract revenues from all other customers combined, were as follows (dollars in millions):

	For the Three Months Ended
	April 30, 2022			May 1, 2021
	Amount		% of Total	Amount		% of Total
AT&T Inc.	$	237.4	27.1%	$	155.6	21.4%
Comcast Corporation	111.3		12.7	131.1		18.0
Lumen Technologies	102.8		11.7	85.8		11.8
Verizon Communications Inc.	81.0		9.2	91.5		12.6
Total other customers combined	343.8		39.3	263.5		36.2
Total contract revenues	$	876.3	100.0%	$	727.5	100.0%

Total contract revenues by customer type during the three months ended April 30, 2022 and May 1, 2021 were as follows (dollars in millions):

	For the Three Months Ended
	April 30, 2022			May 1, 2021
	Amount		% of Total	Amount		% of Total
Telecommunications	$	778.9	88.9%	$	639.7	87.9%
Underground facility locating	70.9		8.1	65.0		8.9
Electrical and gas utilities and other	26.5		3.0	22.8		3.2
Total contract revenues	$	876.3	100.0%	$	727.5	100.0%