XML 40 R30.htm IDEA: XBRL DOCUMENT v3.23.2
Accounts Receivable, Contract Assets, and Contract Liabilities (Tables)
6 Months Ended
Jul. 29, 2023
Receivables [Abstract]  
Accounts Receivable Accounts receivable, net, classified as current, consisted of the following (dollars in thousands):
July 29, 2023January 28, 2023
Trade accounts receivable$464,494 $367,842 
Unbilled accounts receivable721,046 670,066 
Retainage32,711 32,351 
Total1,218,251 1,070,259 
Less: allowance for doubtful accounts(3,801)(3,246)
Accounts receivable, net$1,214,450 $1,067,013 
The allowance for doubtful accounts changed as follows (dollars in thousands):
For the Three Months EndedFor the Six Months Ended
July 29, 2023July 30, 2022July 29, 2023July 30, 2022
Allowance for doubtful accounts at beginning of period$3,682 $761 $3,246 $724 
Provision for bad debt796 102 1,232 134 
Amounts charged against the allowance(677)(78)(677)(73)
Allowance for doubtful accounts at end of period$3,801 $785 $3,801 $785 
Contract Assets and Contract Liabilities Net contract assets consisted of the following (dollars in thousands):
July 29, 2023January 28, 2023
Contract assets$77,254 $43,932 
Contract liabilities 20,864 19,512 
Contract assets, net$56,390 $24,420 
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 29, 2023 or January 28, 2023 were as follows (dollars in millions):

July 29, 2023January 28, 2023
Amount% of TotalAmount% of Total
Lumen Technologies$315.3 24.7%$189.3 17.4%
AT&T Inc.$132.4 10.4%$136.2 12.5%
Comcast Corporation$125.9 9.9%$125.2 11.5%
Frontier Communications Corporation$96.5 7.6%$153.2 14.0%
Customers whose contract revenues exceeded 10% of total contract revenues during the three and six months ended July 29, 2023 or July 30, 2022, as well as total contract revenues from all other customers combined, were as follows (dollars in millions):
For the Three Months EndedFor the Six Months Ended
July 29, 2023July 30, 2022July 29, 2023July 30, 2022
Amount% of TotalAmount% of TotalAmount% of TotalAmount% of Total
AT&T Inc.$174.3 16.7%$255.9 26.3%$398.7 19.1%$493.3 26.7%
Lumen Technologies162.5 15.6127.6 13.1298.9 14.3230.4 12.5
Comcast Corporation119.5 11.5111.8 11.5240.1 11.5223.0 12.1
Verizon Communications Inc.104.9 10.180.88.3204.9 9.8161.88.8
Total other customers combined480.3 46.1396.240.8944.4 45.3740.139.9
Total contract revenues$1,041.5 100.0%$972.3 100.0%$2,087.0 100.0%$1,848.6 100.0%
Total contract revenues by customer type during the three and six months ended July 29, 2023 and July 30, 2022 were as follows (dollars in millions):
For the Three Months EndedFor the Six Months Ended
July 29, 2023July 30, 2022July 29, 2023July 30, 2022
Amount% of TotalAmount% of TotalAmount% of TotalAmount% of Total
Telecommunications$927.1 89.0%$871.0 89.6%$1,865.3 89.4%$1,649.9 89.3%
Underground facility locating76.7 7.471.4 7.3149.6 7.2142.3 7.7
Electrical and gas utilities and other37.7 3.629.9 3.172.1 3.456.4 3.0
Total contract revenues$1,041.5 100.0%$972.3 100.0%$2,087.0 100.0%$1,848.6 100.0%