Accounts Receivable

12 Months Ended

Jul. 26, 2014

Accounts receivable consists of the following:



	July 26, 2014			July 27, 2013
	(Dollars in thousands)
Contract billings	$	258,254		$	239,498
Retainage and other receivables	15,323			12,833
Total	273,577			252,331
Less: allowance for doubtful accounts	(836		)	(129		)
Accounts receivable, net	$	272,741		$	252,202

The Company grants credit under normal payment terms, generally without collateral, to its customers. The Company expects to collect the outstanding balance of accounts receivable, net, including retainage and amounts supplemented with liens, within the next twelve months. Except as described herein, there were no material accounts receivable amounts representing claims or other similar items subject to uncertainty as of July 26, 2014 or July 27, 2013.

With respect to certain customers, the Company has statutory lien rights which may assist in its collection efforts. As of July 26, 2014, the Company's accounts receivable include approximately $20.1 million for past due balances from a customer on a rural project funded primarily by the Rural Utilities Service agency of the United States Department of Agriculture (the “RUS”) under the American Recovery and Reinvestment Act of 2009. The loan made by the RUS is secured by certain assets of the customer. The Company has stopped work on the project. The Company has filed construction liens with respect to work on the project representing approximately $17.7 million of the accounts receivable balance. In addition, other creditors have also filed construction liens against the customer. In July 2014, the Company was included in an action taken by another creditor that has filed a construction lien on one parcel of property owned by the customer to foreclose the lien on that parcel. In the event the customer does not pay the balances owed, the amount the Company collects through the enforcement of its liens or other actions will depend on the value realized on the assets underlying the liens as well as the amount owed to, and priority of, other creditors.

The Company maintains an allowance for doubtful accounts for estimated losses resulting from the failure of its customers to make required payments. The allowance for doubtful accounts changed as follows:



	Fiscal Year Ended
	July 26, 2014		July 27, 2013
	(Dollars in thousands)
Allowance for doubtful accounts at beginning of period	$	129	$	270
Bad debt expense, net	615		139
Amounts recovered (charged) against the allowance	92		(280		)
Allowance for doubtful accounts at end of period	$	836	$	129

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References+ Details