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Concentration of Credit Risk | 6 Months Ended
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Jul. 27, 2019
Risks and Uncertainties [Abstract] |
Concentration of Credit Risk | Customer Concentration and Revenue Information Geographic Location The Company provides services throughout the United States. Contract revenues from services previously provided in Canada were not material during the three or six months ended July 27, 2019 or July 28, 2018. Significant Customers The Company’s customer base is highly concentrated, with its top five customers accounting for approximately 79.4% and 78.3% of its total contract revenues during the six months ended July 27, 2019 and July 28, 2018, respectively. Customers whose contract revenues exceeded 10% of total contract revenues during the three or six months ended July 27, 2019 or July 28, 2018, as well as total contract revenues from all other customers combined, were as follows (dollars in millions):
| For the Three Months Ended |  | For the Six Months Ended
| July 27, 2019 |  | July 28, 2018 |  | July 27, 2019 |  | July 28, 2018
| Amount |  | % of Total |  | Amount |  | % of Total |  | Amount |  | % of Total |  | Amount |  | % of Total
Verizon Communications Inc. | $ | 205.0 |  |  | 23.2% |  | $ | 147.3 |  |  | 18.4% |  | $ | 384.8 |  |  | 22.4% |  | $ | 269.5 |  |  | 17.6%
AT&T Inc. | 183.3 |  |  | 20.7 |  | 165.2 |  |  | 20.7 |  | 392.5 |  |  | 22.8 |  | 342.2 |  |  | 22.4
CenturyLink, Inc. | 138.7 |  |  | 15.7 |  | 107.6 |  |  | 13.5 |  | 248.5 |  |  | 14.5 |  | 197.2 |  |  | 12.9
Comcast Corporation | 133.2 |  |  | 15.1 |  | 171.2 |  |  | 21.4 |  | 270.3 |  |  | 15.7 |  | 330.3 |  |  | 21.6
Total other customers combined | 224.0 |  |  | 25.3 |  | 208.2 |  |  | 26.0 |  | 421.9 |  |  | 24.6 |  | 391.6 |  |  | 25.5
Total contract revenues | $ | 884.2 |  |  | 100.0% |  | $ | 799.5 |  |  | 100.0% |  | $ | 1,718.0 |  |  | 100.0% |  | $ | 1,530.8 |  |  | 100.0%
See Note 5, Accounts Receivable, Contract Assets, and Contract Liabilities, for information on the Company’s customer credit concentration and collectability of trade accounts receivable and contract assets. Customer Type Total contract revenues by customer type during the three and six months ended July 27, 2019 and July 28, 2018 were as follows (dollars in millions):
| For the Three Months Ended |  | For the Six Months Ended
| July 27, 2019 |  | July 28, 2018 |  | July 27, 2019 |  | July 28, 2018
| Amount |  | % of Total |  | Amount |  | % of Total |  | Amount |  | % of Total |  | Amount |  | % of Total
Telecommunications | $ | 804.4 |  |  | 91.0% |  | $ | 726.7 |  |  | 90.9% |  | $ | 1,565.8 |  |  | 91.2% |  | $ | 1,393.9 |  |  | 91.1%
Underground facility locating | 53.8 |  |  | 6.1 |  | 49.0 |  |  | 6.1 |  | 102.0 |  |  | 5.9 |  | 94.1 |  |  | 6.1
Electrical and gas utilities and other | 26.0 |  |  | 2.9 |  | 23.8 |  |  | 3.0 |  | 50.2 |  |  | 2.9 |  | 42.8 |  |  | 2.8
Total contract revenues | $ | 884.2 |  |  | 100.0% |  | $ | 799.5 |  |  | 100.0% |  | $ | 1,718.0 |  |  | 100.0% |  | $ | 1,530.8 |  |  | 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, the Company’s 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, the Company’s remaining performance obligations under the work orders not yet completed is not meaningful in relation to the Company’s overall revenue at any given point in time. The Company applies the practical expedient in Accounting Standards Codification Topic 606, Revenue from Contracts with Customers, and does not disclose information about remaining performance obligations that have original expected durations of one year or less.

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- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -URI http://asc.fasb.org/topic&trid=2134479 + Details
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