Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Summary of Basic and Diluted Earnings Per Share

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

	Year Ended December 31,
	2023		2022		2021
Numerator:
Net income attributable to Cactus Inc.—basic	$	169,171	$	110,174	$	49,593
Net income attributable to non-controlling interest(1)	35,075		27,235		13,744
Net income attributable to Cactus Inc.—diluted(1)	$	204,246	$	137,409	$	63,337
Denominator:
Weighted average Class A shares outstanding—basic	64,641		60,323		55,398
Effect of dilutive shares	14,819		16,014		20,709
Weighted average Class A shares outstanding—diluted	79,460		76,337		76,107
Earnings per Class A share—basic	$	2.62	$	1.83	$	0.90
Earnings per Class A share—diluted(1)	$	2.57	$	1.80	$	0.83

(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%, 25% and 27% for the years ended December 31, 2023, 2022 and 2021, respectively.