Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

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,
	2022		2021		2020
Domestic	$	155,380	$	64,139	$	61,028
Foreign	21,172		11,006		9,157
Income before income taxes	$	176,552	$	75,145	$	70,185

Schedule of Provision For Income Taxes

The provision for income taxes consisted of: 

	Year Ended December 31,
	2022		2021		2020
Current:
Federal	$	—	$	—	$	(786)
State	1,231		348		597
Foreign	4,900		2,497		4,211
Total current income taxes	6,131		2,845		4,022
Deferred:
Federal	23,945		2,658		8,040
State	514		1,516		(253)
Foreign	840		656		(839)
Total deferred income taxes	25,299		4,830		6,948
Total provision for income taxes	$	31,430	$	7,675	$	10,970

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,
	2022		2021		2020
Income taxes at 21% statutory tax rate	$	37,076	$	15,780	$	14,739
Net difference resulting from:
Profit of non-controlling interest not subject to U.S. federal tax	(7,339)		(3,754)		(5,508)
Foreign income taxes (net of foreign tax credit)	2,104		2,423		269
State income taxes (excluding rate change)	2,910		1,348		883
Impact of change in forecasted state income tax rate	(1,739)		1,347		(1,216)
Foreign withholding taxes	1,225		730		462
Change in valuation allowance	(1,381)		(8,977)		2,840
Adjustments of prior year taxes	(120)		79		(1,663)
Stock compensation	(1,743)		(1,096)		(34)
Other	437		(205)		198
Total provision for income taxes	$	31,430	$	7,675	$	10,970

Schedule of Components of Deferred Tax Assets and Liabilities

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

	December 31,
	2022		2021
Investment in Cactus LLC	$	299,253	$	292,956
Imputed interest	12,982		12,297
Tax credits	6,158		3,713
Net operating loss carryforwards	855		11,198
Other	—		152
Deferred tax assets	319,248		320,316
Valuation allowance	(17,604)		(17,242)
Deferred tax asset, net	301,644		303,074
Foreign withholding taxes	1,323		854
Other	643		318
Deferred tax liability, net	$	1,966	$	1,172