Earnings per Share (Tables)

3 Months Ended

Mar. 31, 2022

Schedule of basic and diluted earnings per share

The following table summarizes the basic and diluted earnings per share calculations:


	Three Months Ended March 31,
	2022		2021
Numerator:
Net income attributable to Cactus Inc.—basic	$	20,616	$	11,559
Net income attributable to non-controlling interest (1)	4,953		2,874
Net income attributable to Cactus Inc.—diluted (1)	$	25,569	$	14,433
Denominator:
Weighted average Class A shares outstanding—basic	59,288		49,166
Effect of dilutive shares	16,874		26,608
Weighted average Class A shares outstanding—diluted	76,162		75,774

Earnings per Class A share—basic	$	0.35	$	0.24
Earnings per Class A share—diluted (1)	$	0.34	$	0.19

(1)The numerator is adjusted in the calculation of diluted earnings per share under the if-converted method to include net income attributable to the non-controlling interest calculated as its pre-tax income adjusted for a corporate effective tax rate of 26.0% for the three months ended March 31, 2022 and 25.0% for the three months ended March 31, 2021.