Customer Concentration and Revenue Information

9 Months Ended

Oct. 29, 2022

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 67.0% and 66.0% of total contract revenues during the nine months ended October 29, 2022 and October 30, 2021, respectively. Customers whose contract revenues exceeded 10% of total contract revenues during the three and nine months ended October 29, 2022 or October 30, 2021, 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 29, 2022			October 30, 2021			October 29, 2022			October 30, 2021
	Amount		% of Total	Amount		% of Total	Amount		% of Total	Amount		% of Total
AT&T Inc.	$	258.2	24.8%	$	199.5	23.4%	$	751.5	26.0%	$	532.6	22.5%
Lumen Technologies	142.9		13.6	103.0		12.1	373.3		12.9	284.2		12.0
Comcast Corporation	108.8		10.4	121.0		14.2	331.9		11.5	373.8		15.8
Verizon Communications Inc.	94.9		9.1	93.4		10.9	256.8		8.9	275.7		11.6
Total other customers combined	437.6		42.1	337.1		39.4	1,177.5		40.7	902.7		38.1
Total contract revenues	$	1,042.4	100.0%	$	854.0	100.0%	$	2,891.0	100.0%	$	2,369.0	100.0%

See Note 5, Accounts Receivable, Contract Assets, and Contract Liabilities, for information on our 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 29, 2022 and October 30, 2021 were as follows (dollars in millions):


	For the Three Months Ended						For the Nine Months Ended
	October 29, 2022			October 30, 2021			October 29, 2022			October 30, 2021
	Amount		% of Total	Amount		% of Total	Amount		% of Total	Amount		% of Total
Telecommunications	$	940.7	90.3%	$	757.9	88.8%	$	2,590.5	89.6%	$	2,095.1	88.4%
Underground facility locating	72.1		6.9	67.6		7.9	214.5		7.4	198.2		8.4
Electrical and gas utilities and other	29.6		2.8	28.5		3.3	86.0		3.0	75.7		3.2
Total contract revenues	$	1,042.4	100.0%	$	854.0	100.0%	$	2,891.0	100.0%	$	2,369.0	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.