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Earnings Per Share (Tables)
 12 Months Ended
Dec. 31, 2019
Earnings Per Share  
Summary of basic and diluted earnings per share

 

 

 

 

 

 

 

 

 

Year Ended December 31, 

 

    

2019

    

2018

Numerator:

 

 

  

 

 

  

Net income attributable to Cactus Inc.—basic

 

$

85,612

 

$

51,683

Net income attributable to non-controlling interest (1)

 

 

56,012

 

 

 —

Net income attributable to Cactus Inc.—diluted (1)

 

$

141,624

 

$

51,683

Denominator:

 

 

  

 

 

  

Weighted average Class A shares outstanding—basic

 

 

44,983

 

 

32,329

Effect of dilutive shares (2)

 

 

30,370

 

 

366

Weighted average Class A shares outstanding—diluted (2)

 

 

75,353

 

 

32,695

 

 

 

 

 

 

 

Earnings per Class A share—basic

 

$

1.90

 

$

1.60

Earnings per Class A share—diluted (1) (2)

 

$

1.88

 

$

1.58

 

(1)

Under the if-converted method for the twelve months ended December 31, 2019, the numerator is adjusted in the calculation of diluted earnings per share to include $73.7 million of additional pre-tax income attributable to non-controlling interest adjusted for a corporate effective tax rate of 24%.

(2)

Diluted earnings per share for the year ended December 31, 2018 excludes 37.2 million shares of Class B common stock as the effect would be anti-dilutive.