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

9 Months Ended

Oct. 24, 2020

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


	October 24, 2020		January 25, 2020
Trade accounts receivable	$	367,980	$	355,805
Unbilled accounts receivable	559,067		453,353
Retainage	13,645		12,669
Total	940,692		821,827
Less: allowance for doubtful accounts	(1,751)		(4,582)
Accounts receivable, net	$	938,941	$	817,245

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


	For the Three Months Ended				For the Nine Months Ended
	October 24, 2020		October 26, 2019		October 24, 2020		October 26, 2019
Allowance for doubtful accounts at beginning of period	$	1,605	$	924	$	4,582	$	17,702
Cumulative effect from implementation of ASU 2016-13	—		—		471		—
Provision for bad debt (recovery)	117		3,498		353		(7,015)
Amounts recovered (charged) against the allowance	29		135		(3,655)		(6,130)
Allowance for doubtful accounts at end of period	$	1,751	$	4,557	$	1,751	$	4,557

Contract Assets and Contract Liabilities

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


	October 24, 2020		January 25, 2020
Contract assets	$	204,516	$	253,005
Contract liabilities	16,412		16,332
Contract assets, net	$	188,104	$	236,673

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 October 24, 2020 or January 25, 2020 were as follows (dollars in millions):


	October 24, 2020			January 25, 2020
	Amount		% of Total	Amount		% of Total
Verizon Communications Inc.	$	415.6	36.9%	$	440.2	41.8%
Lumen Technologies(1)	$	198.9	17.6%	$	175.8	16.7%
Comcast Corporation	$	156.2	13.9%	$	114.0	10.8%

Customers whose contract revenues exceeded 10% of total contract revenues during the three and nine months ended October 24, 2020 or October 26, 2019, 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 24, 2020			October 26, 2019			October 24, 2020			October 26, 2019
	Amount		% of Total	Amount		% of Total	Amount		% of Total	Amount		% of Total
Verizon Communications Inc.	$	144.8	17.9%	$	182.1	20.6%	$	483.8	19.8%	$	566.9	21.8%
Lumen Technologies(1)	134.4		16.6	164.1		18.6	441.5		18.0	412.7		15.9
AT&T Inc.	118.9		14.7	162.9		18.4	407.5		16.6	555.4		21.3
Comcast Corporation	143.6		17.7	131.3		14.9	393.0		16.0	401.6		15.4
Total other customers combined	268.6		33.1	243.7		27.6	722.7		29.5	665.5		25.6
Total contract revenues	$	810.3	100.0%	$	884.1	100.0%	$	2,448.5	100.0%	$	2,602.1	100.0%

Total contract revenues by customer type during the three and nine months ended October 24, 2020 and October 26, 2019 were as follows (dollars in millions):


	For the Three Months Ended						For the Nine Months Ended
	October 24, 2020			October 26, 2019			October 24, 2020			October 26, 2019
	Amount		% of Total	Amount		% of Total	Amount		% of Total	Amount		% of Total
Telecommunications	$	721.2	89.0%	$	798.1	90.3%	$	2,193.9	89.6%	$	2,363.9	90.8%
Underground facility locating	59.0		7.3	56.0		6.3	171.3		7.0	158		6.1
Electrical and gas utilities and other	30.1		3.7	30.0		3.4	83.3		3.4	80.2		3.1
Total contract revenues	$	810.3	100.0%	$	884.1	100.0%	$	2,448.5	100.0%	$	2,602.1	100.0%