Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Components of Income (Loss) Before Income Taxes

Domestic and foreign components of income before income taxes were as follows: 

	Year Ended December 31,
	2025		2024		2023
Domestic	$	238,457	$	272,689	$	241,084
Foreign	22,212		26,587		21,292
Income before income taxes	$	260,669	$	299,276	$	262,376

Schedule of Provision For Income Taxes

The provision for income taxes consisted of: 

	Year Ended December 31,
	2025		2024		2023
Current:
Federal	$	13,156	$	32,910	$	18,354
State	2,484		5,183		4,040
Foreign	8,245		8,652		7,799
Total current income taxes	23,885		46,745		30,193
Deferred:
Federal	32,352		17,516		12,925
State	3,560		2,636		4,249
Foreign	(770)		(379)		169
Total deferred income taxes	35,142		19,773		17,343
Total provision for income taxes	$	59,027	$	66,518	$	47,536

Schedule of Effective Income Tax Rate Reconciliation

The effective income tax rate was different from the statutory U.S. federal income tax rate due to the following: 

	Year Ended
	December 31, 2025 (1)
	Amount		Percent
U.S. federal statutory tax rate	$	54,740	21.0	%
State and local income taxes, net of federal income tax effect (2)	4,725		1.8
Foreign tax effects	2,265		0.9
Effect of cross-border tax laws	4,146		1.6
Tax credits
Foreign tax credits	(6,043)		(2.3)
Other tax credits	(350)		(0.1)
Changes in valuation allowances
Valuation allowance - foreign tax credits	2,320		0.9
Nontaxable or nondeductible items
Executive Compensation Limited	2,622		1.0
Other adjustments
Income allocable to non-controlling interest	(7,739)		(3.0)
Other	2,341		0.8
Total provision for income taxes and effective tax rate	$	59,027	22.6	%

(1) Disaggregated in accordance with ASU 2023-09, which was adopted prospectively in 2025.

(2) For 2025, state taxes in New Mexico, Pennsylvania, and Texas make up majority (greater than 50%) of the tax effect of this category

	Year Ended December 31,
		2024 (1)		2023 (1)
Income taxes at 21% statutory tax rate		$	62,849	$	55,094
Net difference resulting from:
Profit of non-controlling interest not subject to U.S. federal tax		(10,293)		(9,951)
Foreign income taxes (net of foreign tax credit)		2,646		1,918
State income taxes (excluding rate change)		6,113		3,999
Impact of change in forecasted state income tax rate		2,059		4,906
Foreign withholding taxes		1,535		1,419
Change in valuation allowance		—		(12,067)
Adjustments of prior year taxes		(1,757)		480
Stock compensation		(661)		(1,193)
Nondeductible expenses associated with acquisition		2,036		3,951
Other		1,991		(1,020)
Total provision for income taxes		$	66,518	$	47,536

(1) As presented prior to adoption of ASU 2023-09, which was adopted prospectively in 2025.

Schedule of Income Taxes Paid

Income taxes paid (net of refunds) exceed 5% of total income taxes (net of refunds) in the following jurisdictions:

	Year Ended
	December 31, 2025
Federal	$	36,750
State	3,080
Foreign	8,296
Total income taxes paid (net of refunds)	$	48,126

Non-cash investing and financing activities were as follows:

	Year Ended December 31,
	2025		2024		2023
Right-of-use assets obtained in exchange for new lease obligations	$	8,739	$	17,367	$	17,520
Property and equipment in accounts payable	1,791		1,150		1,997

Cash paid for interest and income taxes was as follows:

	Year Ended December 31,
	2025		2024		2023
Cash paid for interest	$	3,261	$	2,704	$	5,629
Cash paid for income taxes, net of refunds	48,126		24,800		25,998

Schedule of Components of Deferred Tax Assets and Liabilities

The components of deferred tax assets and liabilities are as follows:

	December 31,
	2025		2024
Investment in Cactus Companies	$	171,647	$	194,015
Imputed interest	13,874		14,080
Tax credits	13,898		10,563
Net operating loss and other carryforwards	505		9,062
Other	347		356
Deferred tax assets	200,271		228,076
Valuation allowance	(12,726)		(9,073)
Deferred tax asset, net	187,545		219,003
Foreign withholding taxes	1,041		1,529
Other	1,745		1,339
Deferred tax liability, net	$	2,786	$	2,868

Schedule of Unrecognized Tax Benefits

The aggregate changes in the balance of the Company's unrecognized tax benefits were as follows for the periods presented (in thousands):

	December 31,
	2025		2024		2023
Balance, beginning of year	$	5,474	$	5,666	$	—
Gross increases based on tax positions related to current year	—		—		5,666
Gross decreases based on tax positions related to prior years	—		(192)		—
Balance, end of year	$	5,474	$	5,474	$	5,666