|3 Months Ended|
Mar. 31, 2021
14. ACCRUED LIABILITIES
The following table sets forth the components of accrued liabilities, in thousands:
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.