Preparation of Interim Financial Statements and Other Items (Tables)

6 Months Ended

Jun. 30, 2018

Preparation Of Interim Financial Statements And Other Items

Schedule of components of income (loss) before income taxes

	Three Months Ended June 30,		Six Months Ended June 30,
	2018		2018
Pre-IPO Domestic	$	—	$	13,370
Post-IPO Domestic		43,898		57,629
Pre-IPO Foreign		—		512
Post-IPO Foreign		2,341		2,788
Income before income taxes	$	46,239	$	74,299

Schedule of provision for income taxes

	Three Months Ended June 30,		Six Months Ended June 30,
	2018		2018
Current:
Federal	$	617	$	828
State		398		638
Foreign		551		789
Total current income taxes		1,566		2,255
Deferred:
Federal		2,477		3,239
State		431		559
Foreign		223		296
Total deferred income taxes		3,131		4,094
Total provision for income taxes	$	4,697	$	6,349

Schedule of effective income tax rate reconciliation

	Three Months Ended June 30,		Six Months Ended June 30,
	2018		2018
Income taxes at 21% statutory tax rate	$	9,710	$	15,603
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		(6,280)		(8,206)
Foreign earnings subject to different tax rates		126		176
State income taxes		698		1,016
Foreign withholding taxes		223		296
Change in valuation allowance		18		(2)
Other		202		274
Total provision for income taxes	$	4,697	$	6,349

Schedule of components of deferred tax assets and liabilities

	June 30, 2018		December 31, 2017
Investments in Cactus Wellhead	$	70,307	$	—
Foreign loss carryforwards		382		489
Foreign credits		105		—
Deferred tax assets		70,794		489
Valuation allowance		(487)		(489)
Deferred tax asset, net	$	70,307	$	—
Foreign withholding taxes	$	712	$	416
Deferred tax liability, net	$	712	$	416