Customer Concentration and Revenue Information

12 Months Ended

Jan. 28, 2023

Customer Concentration and Revenue Information

Geographic Location

We provide services throughout the United States.

Significant Customers

Our customer base is highly concentrated, with our top five customers accounting for approximately 66.7%, 66.2%, and 74.1%, of our total contract revenues during fiscal 2023, fiscal 2022, and fiscal 2021, respectively. Customers whose contract revenues exceeded 10% of total contract revenues during fiscal 2023, fiscal 2022, and fiscal 2021, as well as total contract revenues from all other customers combined, were as follows:


	Fiscal Year Ended
	January 28, 2023				January 29, 2022				January 30, 2021
	Amount		% of Total		Amount		% of Total		Amount		% of Total
AT&T Inc.	$	958.0	25.2	%	$	735.2	23.5	%	$	533.7	16.7	%
Lumen Technologies	483.5		12.7	%	373.0		11.9	%	542.0		16.9	%
Comcast Corporation	430.6		11.3	%	473.8		15.1	%	533.9		16.7	%
Verizon Communications Inc.	347.3		9.1	%	352.6		11.3	%	601.6		18.8	%
Total other customers combined	1,589.1		41.7	%	1,195.9		38.2	%	988.0		30.9	%
Total contract revenues	$	3,808.5	100.0%		$	3,130.5	100.0%		$3,199.2		100.0%

See Note 5, Accounts Receivable, Contract Assets, and Contract Liabilities, for information on our customer credit concentration and collectability of trade accounts receivable and contract assets.

Customer Type

Total contract revenues by customer type during fiscal 2023, fiscal 2022, and fiscal 2021, were as follows (dollars in millions):


	Fiscal Year Ended
	January 28, 2023			January 29, 2022			January 30, 2021
	Amount		% of Total	Amount		% of Total	Amount		% of Total
Telecommunications	$	3,415.8	89.7%	$	2,777.6	88.7%	$	2,851.6	89.1%
Underground facility locating	274.9		7.2%	255.4		8.2%	229.6		7.2%
Electrical and gas utilities and other	117.8		3.1%	97.5		3.1%	118.0		3.7%
Total contract revenues	$	3,808.5	100.0%	$	3,130.5	100.0%	$	3,199.2	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, our 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, our remaining performance obligations under the work orders not yet completed is not meaningful in relation to our overall revenue at any given point in time. We apply the practical expedient in Accounting Standards Codification Topic 606, Revenue from Contracts with Customers, and do not disclose information about remaining performance obligations that have original expected durations of one year or less.