TopBuild Corp. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Cover
- Document and Entity Information
Financial Statements
Notes to Financial Statements
Accounting Policies
- Accounting Policies (Policies)
Notes Tables
Notes Details

Accrued Liabilities

Accrued Liabilities

3 Months Ended

Mar. 31, 2021

Accrued Liabilities

Accrued Liabilities

14. ACCRUED LIABILITIES

The following table sets forth the components of accrued liabilities, in thousands:


	As of
	March 31,		December 31,
	2021		2020
Accrued liabilities:
Salaries, wages, and commissions	$	39,131	$	34,584
Insurance liabilities		22,414		22,007
Income & franchise taxes payable		13,124		129
Employee tax-related liabilities		12,666		12,603
Deferred revenue		8,091		6,542
Sales & property taxes		7,451		6,939
Customer rebates		4,720		6,191
Interest payable on long-term debt		155		3,924
Other		17,194		15,030
Total accrued liabilities		124,946		107,949

The increase in income and franchise taxes payable as of March 31, 2021 is primarily driven by the timing of tax payments, which typically occurs later in the year.

See Note 3 – Revenue Recognition for discussion of our deferred revenue balances and related revenue recognition policy.