Earnings per Share (Tables)

3 Months Ended

Mar. 31, 2023

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,
	2023		2022
Numerator:
Net income attributable to Cactus Inc.—basic	$	42,894	$	20,616
Net income attributable to non-controlling interest (1)	7,312		4,953
Net income attributable to Cactus Inc.—diluted (1)	$	50,206	$	25,569
Denominator:
Weighted average Class A shares outstanding—basic	63,740		59,288
Effect of dilutive shares	15,415		16,874
Weighted average Class A shares outstanding—diluted	79,155		76,162

Earnings per Class A share—basic	$	0.67	$	0.35
Earnings per Class A share—diluted (1)	$	0.63	$	0.34

(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 24.5% for the three months ended March 31, 2023 and 26.0% for the three months ended March 31, 2022.