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Accounts Receivable, Contract Assets, and Contract Liabilities | 3 Months Ended
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Apr. 26, 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. Accounts Receivable Accounts receivable, net, classified as current, consisted of the following (dollars in thousands):
| April 26, 2025 |  | January 25, 2025
Trade accounts receivable | $ | 587,909 |  |  | $ | 538,475 |
Unbilled accounts receivable | 907,522 |  |  | 801,423 |
Retainage | 33,239 |  |  | 34,934 |
Total | 1,528,670 |  |  | 1,374,832 |
Less: allowance for credit losses | (825) |  |  | (1,094) |
Accounts receivable, net | $ | 1,527,845 |  |  | $ | 1,373,738 |
We maintain an allowance for credit losses for estimated losses on uncollected balances. The allowance for credit losses changed as follows (dollars in thousands):
| For the Three Months Ended |  |
| April 26, 2025 |  | April 27, 2024 |  |  |  |
Allowance for credit losses accounts at beginning of period | $ | 1,094 |  |  | $ | 2,776 |  |  |  |  |
Recovery of bad debt | (170) |  |  | (1,237) |  |  |  |  |
Amounts charged against the allowance | (99) |  |  | — |  |  |  |  |
Allowance for credit losses accounts at end of period | $ | 825 |  |  | $ | 1,539 |  |  |  |  |
Contract Assets and Contract Liabilities Net contract assets (liabilities) consisted of the following (dollars in thousands):
| April 26, 2025 |  | January 25, 2025
Contract assets | $ | 101,992 |  |  | $ | 63,375 |
Contract liabilities | 92,109 |  |  | 73,548 |
Contract assets (liabilities), net | $ | 9,883 |  |  | $ | (10,173) |
The change in contract assets (liabilities), net, primarily resulted from increased services performed under contracts consisting of multiple tasks. During the three months ended April 26, 2025, we performed services and recognized $21.5 million of contract revenues related to contract liabilities that existed at January 25, 2025. 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 26, 2025 or January 25, 2025 were as follows (dollars in millions):
| April 26, 2025 |  | January 25, 2025
| Amount |  | % of Total |  | Amount |  | % of Total
AT&T Inc. | $ | 175.8 |  |  | 11.4% |  | $ | 127.7 |  |  | 9.4%
Charter Communications | $ | 202.3 |  |  | 13.2% |  | $ | 158.9 |  |  | 11.7%
Lumen Technologies | $ | 250.7 |  |  | 16.3% |  | $ | 287.1 |  |  | 21.1%
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 26, 2025 or January 25, 2025.

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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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