XML 29 R14.htm IDEA: XBRL DOCUMENT v3.7.0.1
Accounts Receivable
 12 Months Ended
Jul. 29, 2017
Receivables [Abstract]  
Accounts Receivable
Accounts Receivable
 
Accounts receivable consisted of the following (dollars in thousands):
 
July 29, 2017
 
July 30, 2016
Contract billings
$
348,990

 
$
297,532

Retainage
21,645

 
32,101

Total
370,635

 
329,633

Less: allowance for doubtful accounts
(835
)
 
(1,603
)
Accounts receivable, net
$
369,800

 
$
328,030


 
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) within the next twelve months. The Company maintains an allowance for doubtful accounts for estimated losses on uncollected balances. During fiscal 2017 and 2016, write-offs to the allowance for doubtful accounts, net of recoveries, were not material. There were no material accounts receivable amounts representing claims or other similar items subject to uncertainty as of July 29, 2017 or July 30, 2016.

The Company participates in a customer-sponsored vendor payment program. All eligible accounts receivable from this customer are included in the program and payment is received pursuant to a non-recourse sale to a bank partner of the customer. This program effectively reduces the time to collect these receivables as compared to that customer’s standard payment terms. The Company incurs a discount fee to the bank on the payments received that is reflected as an expense component in other income, net, in the consolidated statements of operations. The program has not changed since its inception during fiscal 2016.

The Company maintains an allowance for doubtful accounts for estimated losses on uncollected balances. The allowance for doubtful accounts changed as follows (dollars in thousands):
 
Fiscal Year Ended
 
2017
 
2016
Allowance for doubtful accounts at beginning of period
$
1,603

 
$
1,216

Bad debt expense
199

 
1,252

Amounts charged against the allowance
(967
)
 
(865
)
Allowance for doubtful accounts at end of period
$
835

 
$
1,603