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

3 Months Ended

Apr. 29, 2023

Receivables [Abstract]

Accounts Receivable

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

			April 29, 2023						January 28, 2023
Trade accounts receivable			$	405,431					$	367,842
Unbilled accounts receivable			749,931						670,066
Retainage			33,191						32,351
Total			1,188,553						1,070,259
Less: allowance for doubtful accounts			(3,682)						(3,246)
Accounts receivable, net			$	1,184,871					$	1,067,013

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

			For the Three Months Ended
			April 29, 2023						April 30, 2022
Allowance for doubtful accounts at beginning of period			$	3,246					$	724
Provision for bad debt			436						32
Amounts recovered against the allowance			—						5
Allowance for doubtful accounts at end of period			$	3,682					$	761

Contract Assets and Contract Liabilities

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

			April 29, 2023						January 28, 2023
Contract assets			$	56,617					$	43,932
Contract liabilities			23,522						19,512
Contract assets, net			$	33,095					$	24,420

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 April 29, 2023 or January 28, 2023 were as follows (dollars in millions):

			April 29, 2023												January 28, 2023
			Amount						% of Total						Amount						% of Total
Lumen Technologies			$	245.8					20.1%						$	189.3					17.4%
Frontier Communications Corporation			$	192.1					15.7%						$	153.2					14.0%
AT&T Inc.			$	135.0					11.0%						$	136.2					12.5%
Comcast Corporation			$	122.5					10.0%						$	125.2					11.5%

Customers whose contract revenues exceeded 10% of total contract revenues during the three months ended April 29, 2023 or April 30, 2022, as well as total contract revenues from all other customers combined, were as follows (dollars in millions):

			For the Three Months Ended
			April 29, 2023												April 30, 2022
			Amount						% of Total						Amount						% of Total
AT&T Inc.			$	224.4					21.5%						$	237.4					27.1%
Lumen Technologies			136.4						13.0						102.8						11.7
Comcast Corporation			120.6						11.5						111.3						12.7
Total other customers combined			564.1						54.0						424.8						48.5
Total contract revenues			$	1,045.5					100.0%						$	876.3					100.0%

Total contract revenues by customer type during the three months ended April 29, 2023 and April 30, 2022 were as follows (dollars in millions):

			For the Three Months Ended
			April 29, 2023												April 30, 2022
			Amount						% of Total						Amount						% of Total
Telecommunications			$	938.2					89.7%						$	778.9					88.9%
Underground facility locating			73.0						7.0						70.9						8.1
Electrical and gas utilities and other			34.3						3.3						26.5						3.0
Total contract revenues			$	1,045.5					100.0%						$	876.3					100.0%

X

- Definition

Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability.

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Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

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