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Preparation of Interim Financial Statements and Other Items (Tables) | 9 Months Ended
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Sep. 30, 2018
Preparation Of Interim Financial Statements And Other Items |
Schedule of components of income (loss) before income taxes |
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2018 |  | 2018
Pre-IPO Domestic |  | $ | — |  | $ | 13,370
Post-IPO Domestic |  |  | 49,277 |  |  | 106,906
Pre-IPO Foreign |  |  | — |  |  | 512
Post-IPO Foreign |  |  | 2,586 |  |  | 5,374
Income before income taxes |  | $ | 51,863 |  | $ | 126,162
Schedule of provision for income taxes |
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2018 |  | 2018
Current: |  |  |  |  |  |
Federal |  | $ | (828) |  | $ | —
State |  |  | 693 |  |  | 1,331
Foreign |  |  | 682 |  |  | 1,471
Total current income taxes |  |  | 547 |  |  | 2,802
Deferred: |  |  |  |  |  |
Federal |  |  | 6,212 |  |  | 9,451
State |  |  | 1,074 |  |  | 1,633
Foreign |  |  | 382 |  |  | 678
Total deferred income taxes |  |  | 7,668 |  |  | 11,762
Total provision for income taxes |  | $ | 8,215 |  | $ | 14,564
Schedule of effective income tax rate reconciliation |
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2018 |  | 2018
Income taxes at 21% statutory tax rate |  | $ | 10,891 |  | $ | 26,494
Net difference resulting from: |  |  |  |  |  |
Profit of Cactus LLC pre-IPO not subject to U.S. federal tax |  |  | — |  |  | (2,808)
Profit of non-controlling interest not subject to U.S. federal tax |  |  | (4,979) |  |  | (13,185)
Foreign earnings subject to different tax rates |  |  | (298) |  |  | (122)
State income taxes |  |  | 1,511 |  |  | 2,527
Foreign withholding taxes |  |  | 382 |  |  | 678
Change in valuation allowance |  |  | (104) |  |  | (106)
Other |  |  | 812 |  |  | 1,086
Total provision for income taxes |  | $ | 8,215 |  | $ | 14,564
Schedule of components of deferred tax assets and liabilities |
|  | September 30, 2018 |  | December 31, 2017
Investment in Cactus LLC |  | $ | 179,265 |  | $ | —
Foreign loss carryforwards |  |  | 383 |  |  | 489
Deferred tax assets |  |  | 179,648 |  |  | 489
Valuation allowance |  |  | (383) |  |  | (489)
Deferred tax asset, net |  | $ | 179,265 |  | $ | —
Foreign withholding taxes |  | $ | 1,094 |  | $ | 416
Deferred tax liability, net |  | $ | 1,094 |  | $ | 416

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
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- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)(1)(i)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
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