Preparation of Interim Financial Statements and Other Items (Tables)

9 Months Ended

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