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Accounts Receivable, Contract Assets, and Contract Liabilities | 12 Months Ended
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Jan. 25, 2025
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. See Note 2, Significant Accounting Policies and Estimates, for further information on our policies related to these balance sheet accounts, as well as our revenue recognition policies. Accounts Receivable Accounts receivable, net, classified as current, consisted of the following (dollars in thousands):
| January 25, 2025 |  | January 27, 2024
Trade accounts receivable | $ | 538,475 |  |  | $ | 462,034 |
Unbilled accounts receivable | 801,423 |  |  | 734,442 |
Retainage | 34,934 |  |  | 49,556 |
Total | 1,374,832 |  |  | 1,246,032 |
Less: allowance for credit losses | (1,094) |  |  | (2,776) |
Accounts receivable, net | $ | 1,373,738 |  |  | $ | 1,243,256 |
We maintain an allowance for estimated losses on uncollected balances. The allowance for credit losses changed as follows (dollars in thousands):
| January 25, 2025 |  | January 27, 2024
Allowance for credit losses at beginning of period | $ | 2,776 |  |  | $ | 3,246 |
(Recovery of) provision for bad debt | (1,184) |  |  | 274 |
Amounts charged against the allowance | (498) |  |  | (744) |
Allowance for credit losses at end of period | $ | 1,094 |  |  | $ | 2,776 |
Contract Assets and Contract Liabilities Net contract (liabilities) assets consisted of the following (dollars in thousands):
| January 25, 2025 |  | January 27, 2024
Contract assets | $ | 63,375 |  |  | $ | 52,211 |
Contract liabilities | 73,548 |  |  | 39,122 |
Contract (liabilities) assets, net | $ | (10,173) |  |  | $ | 13,089 |
The change in contract assets (liabilities), net, in fiscal 2025 from fiscal 2024 primarily resulted from increased billings, net of payments made, under contracts consisting of multiple tasks and the addition of balances from acquired companies. During fiscal 2025, we performed services and recognized $18.5 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 We have two customers whose combined amounts of accounts receivable and contract assets (liabilities), net exceeded 10% of total combined accounts receivable and contract assets (liabilities), net. The combined amounts of accounts receivable and contract assets (liabilities), net, for Lumen Technologies were $287.1 million, or 21.1%, and $345.0 million, or 27.4%, as of January 25, 2025 and January 27, 2024, respectively, and Charter Communications were $158.9 million or 11.7%, and $108.2 million, or 8.6%, as of January 25, 2025 and January 27, 2024, respectively, of the total combined accounts receivable and contract assets (liabilities), net. No other customer had combined amounts of accounts receivable and contract assets (liabilities), net, which exceeded 10% of total combined accounts receivable and contract assets (liabilities), net as of January 25, 2025 or January 27, 2024. We believe that none of the customers above were experiencing financial difficulties that would materially impact the collectability of our total accounts receivable and contract assets (liabilities), net, as of January 25, 2025 or January 27, 2024.

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- Definition The entire disclosure for claims held for amounts due to 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 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 + Details
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