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Customer Concentration and Revenue Information | 6 Months Ended
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Jul. 27, 2024
Risks and Uncertainties [Abstract] |
Customer Concentration and Revenue Information | 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 55.5% and 61.5% of total contract revenues during the six months ended July 27, 2024 and July 29, 2023, respectively. Customers whose contract revenues exceeded 10% of total contract revenues during the three and six months ended July 27, 2024 or July 29, 2023, 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, 2024 |  | July 29, 2023 |  | July 27, 2024 |  | July 29, 2023
| Amount |  | % of Total |  | Amount |  | % of Total |  | Amount |  | % of Total |  | Amount |  | % of Total
AT&T Inc. | $ | 210.2 |  |  | 17.5% |  | $ | 174.3 |  |  | 16.7% |  | $ | 425.7 |  |  | 18.2% |  | $ | 398.7 |  |  | 19.1%
Lumen Technologies | 163.7 |  |  | 13.6 |  | 162.5 |  |  | 15.6 |  | 320.5 |  |  | 13.7 |  | 298.9 |  |  | 14.3
Comcast Corporation | 105.6 |  |  | 8.8 |  | 119.5 |  |  | 11.5 |  | 210.6 |  |  | 9.0 |  | 240.1 |  |  | 11.5
Verizon Communications Inc. | 85.3 |  |  | 7.1 |  | 104.9 |  | 10.1 |  | 163.5 |  |  | 7.0 |  | 204.9 |  |  | 9.8
Total other customers combined | 638.3 |  |  | 53.0 |  | 480.3 |  | 46.1 |  | 1,225.2 |  |  | 52.1 |  | 944.4 |  |  | 45.3
Total contract revenues | $ | 1,203.1 |  |  | 100.0% |  | $ | 1,041.5 |  |  | 100.0% |  | $ | 2,345.5 |  |  | 100.0% |  | $ | 2,087.0 |  |  | 100.0%
See Note 6, 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 the three and six months ended July 27, 2024 and July 29, 2023 were as follows (dollars in millions):
| For the Three Months Ended |  | For the Six Months Ended
| July 27, 2024 |  | July 29, 2023 |  | July 27, 2024 |  | July 29, 2023
| Amount |  | % of Total |  | Amount |  | % of Total |  | Amount |  | % of Total |  | Amount |  | % of Total
Telecommunications | $ | 1,086.2 |  |  | 90.3% |  | $ | 927.1 |  |  | 89.0% |  | $ | 2,113 |  |  | 90.0% |  | $ | 1,865.3 |  |  | 89.4%
Underground facility locating | 82.1 |  |  | 6.8 |  | 76.7 |  |  | 7.4 |  | 163.1 |  |  | 7.0 |  | 149.6 |  |  | 7.2
Electrical and gas utilities and other | 34.8 |  |  | 2.9 |  | 37.7 |  |  | 3.6 |  | 69.4 |  |  | 3.0 |  | 72.1 |  |  | 3.4
Total contract revenues | $ | 1,203.1 |  |  | 100.0% |  | $ | 1,041.5 |  |  | 100.0% |  | $ | 2,345.5 |  |  | 100.0% |  | $ | 2,087.0 |  |  | 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.

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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 -Topic 275 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//275/tableOfContent + Details
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