The following provides further details on the balance sheet accounts of accounts receivable, net; contract assets; and contract liabilities.

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


	August 1, 2026		January 31, 2026
Trade accounts receivable	$	787,491	$	699,904
Unbilled accounts receivable	1,334,390		880,364
Retainage	159,162		119,321
Total	2,281,043		1,699,589
Less: allowance for credit losses	(3,239)		(2,616)
Accounts receivable, net	$	2,277,804	$	1,696,973

We maintain an allowance for estimated losses on uncollected balances. The allowance for credit losses changed as follows (dollars in thousands):


	For the Three Months Ended				For the Six Months Ended
	August 1, 2026		July 26, 2025		August 1, 2026		July 26, 2025
Allowance for credit losses at beginning of period	$	2,886	$	825	$	2,616	$	1,094
Provision for bad debt	151		1,770		431		1,600
Amounts charged against the allowance, net of recoveries	202		—		192		(99)
Allowance for credit losses at end of period	$	3,239	$	2,595	$	3,239	$	2,595

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


	August 1, 2026		January 31, 2026
Contract assets	$	221,211	$	162,327
Contract liabilities	241,223		158,503
Contract (liabilities) assets, net	$	(20,012)	$	3,824

The change in contract (liabilities) assets, net, primarily resulted from up-front or advance billings to our customers for construction projects which are in progress, as well as increased billings, net of payments made, under contracts consisting of multiple tasks and the addition of balances from the acquisition completed during fiscal 2027. During the three and six months ended August 1, 2026, we performed services and recognized $22.7 million and $145.4 million of contract revenues related to contract liabilities that existed at January 31, 2026.

Customers whose combined amounts of accounts receivable and contract assets, net, exceeded 10% of total combined accounts receivable and contract assets, net as of August 1, 2026 or January 31, 2026 were as follows (dollars in millions):


	August 1, 2026			January 31, 2026
	Amount		% of Total	Amount		% of Total
AT&T Inc. (1)	$	247.4	11.0%	$	153.4	9.0%
Charter Communications, Inc.	$	204.3	9.1%	$	246.4	14.5%
Lumen Technologies, Inc. (1)	$	301.4	13.4%	$	259.0	15.2%
Verizon Communications, Inc. (2)	$	241.9	10.7%	$	173.6	10.2%

(1) On February 2, 2026, AT&T Inc. completed its acquisition of substantially all of the mass markets fiber business from Lumen Technologies, Inc. As a result, amounts reported for AT&T Inc. in the current fiscal year include amounts for the mass markets fiber business to the extent they have transferred from Lumen Technologies, Inc. Since this transaction occurred subsequent to fiscal 2026, amounts for the mass markets fiber business continue to be reported under Lumen Technologies Inc. in the prior fiscal year.

(2) On January 20, 2026, Verizon Communications, Inc. completed its acquisition of Frontier Communications Corporation. As a result, amounts reported for Verizon Communications, Inc. include the respective balances for Frontier Communications Corporation retrospectively for all periods presented.