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Accounts Receivable, Contract Assets, and Contract Liabilities | 3 Months Ended
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Apr. 27, 2024
Receivables [Abstract] |
Accounts Receivable, Contract Assets, and Contract Liabilities | Accounts Receivable, Contract Assets, and Contract Liabilities The following provides further details on the balance sheet accounts of accounts receivable, net; contract assets; and contract liabilities. Accounts Receivable Accounts receivable, net, classified as current, consisted of the following (dollars in thousands):
| April 27, 2024 |  | January 27, 2024
Trade accounts receivable | $ | 468,071 |  |  | $ | 462,034 |
Unbilled accounts receivable | 861,297 |  |  | 734,442 |
Retainage | 44,975 |  |  | 49,556 |
Total | 1,374,343 |  |  | 1,246,032 |
Less: allowance for doubtful accounts | (1,539) |  |  | (2,776) |
Accounts receivable, net | $ | 1,372,804 |  |  | $ | 1,243,256 |
We maintain an allowance for doubtful accounts for estimated losses on uncollected balances. The allowance for doubtful accounts changed as follows (dollars in thousands):
| For the Three Months Ended |  |  |
| April 27, 2024 |  | April 29, 2023 |  |  |  |  |
Allowance for doubtful accounts at beginning of period | $ | 2,776 |  |  | $ | 3,246 |  |  |  |  |  |
(Recovery of) provision for bad debt | (1,237) |  |  | 436 |  |  |  |  |  |
Allowance for doubtful accounts at end of period | $ | 1,539 |  |  | $ | 3,682 |  |  |  |  |  |
Contract Assets and Contract Liabilities Net contract assets consisted of the following (dollars in thousands):
| April 27, 2024 |  | January 27, 2024
Contract assets | $ | 68,460 |  |  | $ | 52,211 |
Contract liabilities | 57,466 |  |  | 39,122 |
Contract assets, net | $ | 10,994 |  |  | $ | 13,089 |
The decrease in net contract assets, net, primarily resulted from increased billings under contracts consisting of multiple tasks. During the three months ended April 27, 2024, we performed services and recognized $9.7 million, of contract revenues related to contract liabilities that existed at January 27, 2024. See Note 7, Other Current Assets and Other Assets, for information on our long-term contract assets. Customer Credit Concentration The combined amounts of accounts receivable and contract assets, net, for Lumen Technologies were $358.4, or 25.8%, and $345.0, or 27.4%, as of April 27, 2024 and January 27, 2024, respectively, of the total combined accounts receivable and contract assets, net. No other customer had combined amounts of accounts receivable and contract assets, net, which exceeded 10% of total combined accounts receivable and contract assets, net as of April 27, 2024 or January 27, 2024. We believe that none of our significant customers were experiencing financial difficulties that would materially impact the collectability of our total accounts receivable and contract assets, net, as of April 27, 2024 or January 27, 2024.

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- 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 Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//310-10/tableOfContent + Details
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- References No definition available. + Details
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