Cactus (WHD) 10-Q 1 May 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2020	Apr. 28, 2020
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity File Number	001-38390
Entity Registrant Name	Cactus, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	35-2586106
Entity Address, Address Line One	920 Memorial City Way, Suite 300
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77024
City Area Code	713
Local Phone Number	626-8800
Title of 12(g) Security	Class A Common Stock, par value $0.01
Trading Symbol	WHD
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001699136
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Amendment Flag	false
Class A Common Stock
Entity Common Stock, Shares Outstanding		47,400,617
Class B Common Stock
Entity Common Stock, Shares Outstanding		27,957,699

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 230,202	$ 202,603
Accounts receivable, net of allowance of $1,430 and $837, respectively	95,236	87,865
Inventories	100,301	113,371
Prepaid expenses and other current assets	9,535	11,044
Total current assets	435,274	414,883
Property and equipment, net	162,871	161,748
Operating lease right-of-use assets, net	24,872	26,561
Goodwill	7,824	7,824
Deferred tax asset, net	217,916	222,545
Other noncurrent assets	1,338	1,403
Total assets	850,095	834,964
Current liabilities
Accounts payable	34,476	40,957
Accrued expenses and other current liabilities	19,275	22,067
Current portion of liability related to tax receivable agreement	14,630	14,630
Finance lease obligations, current portion	6,498	6,735
Operating lease liabilities, current portion	6,535	6,737
Total current liabilities	81,414	91,126
Deferred tax liability, net	1,511	1,348
Liability related to tax receivable agreement, net of current portion	201,902	201,902
Finance lease obligations, net of current portion	4,033	3,910
Operating lease liabilities, net of current portion	18,809	20,283
Total liabilities	307,669	318,569
Commitments and contingencies
Stockholders' equity
Preferred stock, $0.01 par value, 10,000 shares authorized, none issued and outstanding
Additional paid-in capital	195,381	194,456
Retained earnings	147,670	132,990
Accumulated other comprehensive loss	(1,067)	(452)
Total stockholders' equity attributable to Cactus Inc.	342,458	327,466
Non-controlling interest	199,968	188,929
Total stockholders' equity	542,426	516,395
Total liabilities and equity	850,095	834,964
Class A Common Stock
Stockholders' equity
Common stock, $0.01 par value	474	472
Class B Common Stock
Stockholders' equity
Common stock, $0.01 par value

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Allowance for doubtful accounts receivable	$ 1,430	$ 837
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000	10,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Class A Common Stock
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	300,000	300,000
Common stock, shares issued	47,398	47,159
Common stock, shares outstanding	47,398	47,159
Class B Common Stock
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	215,000	215,000
Common stock, shares issued	27,958	27,958
Common stock, shares outstanding	27,958	27,958

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenues
Total revenues	$ 154,139	$ 158,875
Costs and expenses
Selling, general and administrative expenses	13,662	12,668
Severance expenses	1,007
Total costs and expenses	113,954	110,383
Income from operations	40,185	48,492
Interest income (expense), net	410	23
Other income (expense), net		(1,042)
Income before income taxes	40,595	47,473
Income tax expense	7,497	(973)
Net income	33,098	48,446
Less: net income attributable to non-controlling interest	14,115	21,639
Net income attributable to Cactus Inc.	18,983	26,807
Product revenue
Revenues
Total revenues	87,031	86,640
Costs and expenses
Cost of revenue	56,135	53,018
Rental revenue
Revenues
Total revenues	36,163	38,497
Costs and expenses
Cost of revenue	19,339	17,791
Field service and other revenue
Revenues
Total revenues	30,945	33,738
Costs and expenses
Cost of revenue	$ 23,811	$ 26,906
Class A Common Stock
Costs and expenses
Earnings per Class A share - basic	$ 0.40	$ 0.69
Earnings per Class A share - diluted	$ 0.40	$ 0.59
Weighted average Class A shares outstanding - basic	47,270	38,719
Weighted average Class A shares outstanding - diluted	75,395	75,246

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 33,098	$ 48,446
Foreign currency translation adjustments	(1,083)	270
Comprehensive income	32,015	48,716
Less: comprehensive income attributable to non-controlling interest	13,647	21,786
Comprehensive income attributable to Cactus Inc.	$ 18,368	$ 26,930

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Class A Common StockCommon stock	Class B Common StockCommon stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Non-controlling Interest	Total
Balance at the beginning of the period at Dec. 31, 2018	$ 377		$ 126,418	$ 51,683	$ (820)	$ 184,670	$ 362,328
Balance at the beginning of the period (shares) at Dec. 31, 2018	37,654	37,236
Statement of Stockholders'/Members' Equity
Adjustments to prior periods			14,035		488	(14,523)
Member distribution						(235)	(235)
Effect of CW Unit redemptions	$ 85		43,899		(50)	(43,934)
Effect of CW Unit redemptions (in shares)	8,518	(8,518)
Adjustment to deferred tax asset from CW Unit redemptions			(8,232)				(8,232)
Additional paid-in capital related to tax receivable agreement			13,580				13,580
Equity award vestings	$ 2		(1,474)				(1,472)
Equity award vestings (in shares)	219
Other comprehensive income (loss)					123	147	270
Stock-based compensation			1,676				1,676
Net income				26,807		21,639	48,446
Balance at the end of the period at Mar. 31, 2019	$ 464		189,902	78,490	(259)	147,764	416,361
Balance at the end of the period (shares) at Mar. 31, 2019	46,391	28,718
Balance at the beginning of the period at Dec. 31, 2019	$ 472		194,456	132,990	(452)	188,929	516,395
Balance at the beginning of the period (shares) at Dec. 31, 2019	47,159	27,958
Statement of Stockholders'/Members' Equity
Member distribution						(2,203)	(2,203)
Additional paid-in capital related to tax receivable agreement			(94)				(94)
Equity award vestings	$ 2		(221)			(1,138)	(1,357)
Equity award vestings (in shares)	239
Other comprehensive income (loss)					(615)	(468)	(1,083)
Stock-based compensation			1,240			733	1,973
Cash dividends declared				(4,303)			(4,303)
Net income				18,983		14,115	33,098
Balance at the end of the period at Mar. 31, 2020	$ 474		$ 195,381	$ 147,670	$ (1,067)	$ 199,968	$ 542,426
Balance at the end of the period (shares) at Mar. 31, 2020	47,398	27,958

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical)	3 Months Ended
	Mar. 31, 2020$ / shares
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
Cash dividend declared	$ 0.09

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities
Net income	$ 33,098	$ 48,446
Reconciliation of net income to net cash provided by operating activities:
Depreciation and amortization	10,980	8,881
Debt discount and deferred financing cost amortization	42	42
Stock-based compensation	1,973	1,676
Provision for bad debts	625
Inventory obsolescence	1,353	224
Loss on disposal of assets	961	863
Deferred income taxes	4,848	(2,796)
Changes in operating assets and liabilities:
Accounts receivable	(8,244)	(15,597)
Inventories	8,306	(8,875)
Prepaid expenses and other assets	1,497	2,156
Accounts payable	(8,142)	192
Accrued expenses and other liabilities	(2,136)	(973)
Net cash provided by operating activities	45,161	34,239
Cash flows from investing activities
Capital expenditures and other	(9,441)	(14,655)
Proceeds from sale of assets	1,103	808
Net cash used in investing activities	(8,338)	(13,847)
Cash flows from financing activities
Payments on finance leases	(1,764)	(1,846)
Dividends paid to Class A common stock shareholders	(4,281)
Distributions to members	(2,203)	(235)
Repurchase of shares	(1,356)	(1,474)
Net cash used in financing activities	(9,604)	(3,555)
Effect of exchange rate changes on cash and cash equivalents	380	438
Net increase in cash and cash equivalents	27,599	17,275
Cash and cash equivalents
Beginning of period	202,603	70,841
End of period	230,202	88,116
Supplemental Disclosures of Cash Flow Information
Property and equipment acquired under finance leases	1,896	216
Property and equipment in payables	$ 3,767	$ 3,643

Preparation of Interim Financia

Preparation of Interim Financial Statements and Other Items	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Preparation of Interim Financial Statements and Other Items	1. Preparation of Interim Financial Statements and Other Items Basis of Presentation The financial statements presented in this report represent the consolidation of Cactus Inc. (“Cactus Inc.”) and its subsidiaries (“the Company”), including Cactus Wellhead, LLC (“Cactus LLC”). Cactus Inc. is a holding company whose only material asset is an equity interest consisting of units representing limited liability company interests in Cactus LLC (“CW Units”). Cactus Inc. is the sole managing member of Cactus LLC and operates and controls all of the business and affairs of Cactus LLC and conducts its business through Cactus LLC and its subsidiaries. As a result, Cactus Inc. consolidates the financial results of Cactus LLC and its subsidiaries and reports a non-controlling interest related to the portion of CW Units not owned by Cactus Inc., which reduces net income attributable to holders of Cactus Inc.’s Class A common stock, par value $0.01 per share (“Class A common stock”). Except as otherwise indicated or required by the context, all references to “Cactus,” “we,” “us” and “our” refer to Cactus Inc. and its consolidated subsidiaries. The unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information. Accordingly, these consolidated financial statements do not include all information or notes required by generally accepted accounting principles for annual financial statements and should be read together with our Annual Report on Form 10-K for the year ended December 31, 2019. The consolidated financial statements include all adjustments, which are of a normal recurring nature, unless otherwise disclosed, necessary for a fair statement of the consolidated financial statements for the interim periods. The results of operations for any interim period are not necessarily indicative of the results to be expected for the full year. Use of Estimates In preparing our consolidated financial statements in conformity with GAAP, we make numerous estimates and assumptions that affect the accounting for and recognition and disclosure of assets, liabilities, equity, revenues and expenses. We must make these estimates and assumptions because certain information that we use is dependent on future events, cannot be calculated with a high degree of precision from available data or is not otherwise capable of being readily calculated based on accepted methodologies. In some cases, these estimates are particularly difficult to determine, and we must exercise significant judgment. Actual results could differ materially from the estimates and assumptions that we use in the preparation of our consolidated financial statements. Reclassifications Certain prior period amounts have been reclassified to conform to the current period presentation. Recent Accounting Pronouncements Standards Adopted Effective January 1, 2020, we adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The new guidance changed the measurement of credit losses on financial assets measured at amortized cost, including but not limited to trade receivables. The new guidance replaced the prior methodology for recognizing credit losses when it is probable that a loss has been incurred with an expected loss model that requires consideration of a broader range of information to estimate expected credit losses over the lifetime of an asset. The allowance for credit losses under the new guidance represents the portion of the asset’s amortized cost basis that we do not expect to collect over the asset’s contractual life, considering past events, current conditions and reasonable and supportable forecasts of future economic conditions. Adoption of the standard did not impact our consolidated financial statements other than certain expanded disclosures. See further discussion and expanded disclosures at Note 3. We also adopted FASB ASU 2017-04, Intangibles – Goodwill and Other (Topic 350) effective January 1, 2020. The new standard simplified the accounting for goodwill impairment by eliminating Step 2 of the current goodwill impairment test. Under the new standard, an entity performs its goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount and recognizes an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. The loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Adoption of this standard did not impact our consolidated financial statements.

Concentrations Risks and Uncert

Concentrations Risks and Uncertainties	3 Months Ended
	Mar. 31, 2020
Concentrations, Risks and Uncertainties
Concentrations, Risks and Uncertainties	2. Concentrations, Risks and Uncertainties Significant Customers Our customers are engaged in the oil and natural gas exploration and production business primarily in the U.S. as well as Australia. Our receivables are spread over a number of customers, a majority of which are operators and suppliers to the oil and natural gas industry. For the three months ended March 31, 2020 and 2019, one customer represented 10% and 12%, respectively, of consolidated revenues, and no other customers represented 10% or more of our consolidated revenues during the comparative periods. Significant Vendors We purchase a significant portion of supplies, equipment and machined components from a single vendor located in China. For the three months ended March 31, 2020 and 2019, purchases from this vendor totaled $2.9 million and $12.7 million, respectively. These figures represent approximately 7% and 20% for the respective periods of our total third-party vendor purchases of raw materials, finished products, equipment, machining and other services. Amounts due to the vendor included in accounts payable in the consolidated balance sheets as of March 31, 2020 and December 31, 2019 totaled $1.9 million and $4.3 million, respectively. Low Oil Prices and the Coronavirus (COVID-19) The significant decline in oil demand due to COVID-19 coupled with the instability of oil prices caused by geopolitical issues and production levels, as well as limited availability of storage capacity have resulted in our customers announcing significant reductions to their capital expenditure budgets for 2020. Management’s expectation is that demand for our products and services will be severely impacted for the duration of 2020 and potentially beyond; however, we are currently unable to estimate the full impact to our business, how long this significant drop in demand will last or the depth of the decline. In an effort to offset the reduction in revenues resulting from the weakened macroeconomic environment, we implemented certain cost reduction measures beginning in March 2020. These measures included, but were not limited to, the following: ● 50% reduction to our Chief Executive Officer’s base salary; ● Salary reductions ranging from 25% to 50% for our other named executive officers; ● Salary and wage reductions for the remaining U.S. workforce ranging from 2% to 15% depending on salary and position; ● Reduction in board member compensation by 25%; and ● Reduction of 277 U.S. employee positions. We have also reduced our planned capital expenditures for 2020 and implemented additional headcount reductions in April 2020. See further discussion of the April workforce reductions at Note 12. Due to the depressed oil price environment, our reduced cash flow projections resulting from expectations of reduced sales and significant declines in our market capitalization, we assessed whether our long-lived assets and goodwill may have been impaired as of March 31, 2020. We performed quantitative impairment tests using management’s current projections that are subject to various risks and uncertainties of revenues, expenses and cash flows. Our goodwill impairment assessment also includes assumptions regarding discount rates, terminal value and control premiums. Estimates of future cash flows and fair value are highly subjective and inherently imprecise. These estimates can change materially from period to period based on many factors. Accordingly, if conditions change in the future, we may record impairment losses, which could be material to any particular reporting period. Although we determined based on our current impairment assessments that our long-lived assets and goodwill were not impaired as of March 31, 2020, we can provide no assurance that we will not incur an impairment loss in the future.

Accounts Receivable and Allowan

Accounts Receivable and Allowance for Credit Losses	3 Months Ended
	Mar. 31, 2020
Accounts Receivable and Allowance for Credit Losses
Accounts Receivable and Allowance for Credit Losses	3. Accounts Receivable and Allowance for Credit Losses We extend credit to customers in the normal course of business. Our customers are predominantly oil and gas companies in the U.S. Our receivables are short-term in nature and typically due in 30 to 45 days. We do not accrue interest on delinquent receivables. Accounts receivable includes amounts billed and currently due from customers and unbilled amounts for products delivered and services performed for which billings have not yet been submitted to the customers. Total unbilled revenue included in accounts receivable as of March 31, 2020 and December 31, 2019 was $21.5 million and $23.8 million, respectively. We maintain an allowance for credit losses to provide for the amount of receivables we do not expect to collect. In our determination of the allowance for credit losses, we pool receivables with similar risk characteristics based on customer size, credit ratings, payment history, bankruptcy status and other factors known to us and apply an expected credit loss percentage. The expected credit loss percentage is determined using historical loss data adjusted for current conditions and forecasts of future economic conditions. Accounts deemed uncollectible are applied against the allowance for credit losses. The following is a rollforward of our allowance for credit losses. The increase in the allowance during the three months ended March 31, 2020 reflects the estimated impact of the current economic environment on our receivable balance. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at ​ ​ Beginning of ​ Expense ​ ​ ​ ​ ​ ​ ​ End of ​ Period (recovery) Write off Other Period Three Months Ended March 31, 2020 ​ $ 837 ​ $ 625 ​ $ (32) ​ $ — ​ $ 1,430 Three Months Ended March 31, 2019 ​ 576 ​ — ​ — ​ 2 ​ 578 ​

Inventories

Inventories	3 Months Ended
	Mar. 31, 2020
Inventories
Inventories	4. Inventories Inventories are stated at the lower of cost or net realizable value. Cost is determined using standard cost (which approximates average cost) and weighted average methods. Costs include an application of related direct labor and overhead cost. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. Reserves are made for excess and obsolete items based on a range of factors, including age, usage and technological or market changes that may impact demand for those products. Inventories consist of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2020 2019 Raw materials ​ $ 1,702 ​ $ 1,538 Work-in-progress ​ 3,857 ​ 4,619 Finished goods ​ 94,742 ​ 107,214 ​ ​ $ 100,301 ​ $ 113,371 ​

Property and Equipment, net

Property and Equipment, net	3 Months Ended
	Mar. 31, 2020
Property and Equipment, net
Property and Equipment, net	5. Property and Equipment, net Property and equipment are stated at cost. We manufacture or construct most of our own rental assets. During the manufacture of these assets, they are reflected as construction in progress until complete. Property and equipment consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2020 2019 Land ​ $ 3,203 ​ $ 3,203 Buildings and improvements ​ 21,812 ​ 21,655 Machinery and equipment ​ 55,826 ​ 55,494 Vehicles under finance lease ​ ​ 24,936 ​ ​ 24,275 Rental equipment ​ 169,307 ​ 161,156 Furniture and fixtures ​ 1,762 ​ 1,684 Computers and software ​ 3,475 ​ 3,317 Gross property and equipment ​ 280,321 ​ 270,784 Less: Accumulated depreciation ​ (130,853) ​ (123,397) Net property and equipment ​ 149,468 ​ 147,387 Construction in progress ​ 13,403 ​ 14,361 Total property and equipment, net ​ $ 162,871 ​ $ 161,748 ​

Debt

Debt	3 Months Ended
	Mar. 31, 2020
Debt
Debt	6. Debt We had no debt outstanding as of March 31, 2020 and December 31, 2019. On August 21, 2018, Cactus LLC entered into a five-year senior secured asset-based revolving credit facility with a syndicate of lenders and JPMorgan Chase Bank, N.A., as administrative agent for such lenders and as an issuing bank and swingline lender (the “ABL Credit Facility”). The ABL Credit Facility provides for $75.0 million in revolving commitments, up to $15.0 million of which is available for the issuance of letters of credit. The ABL Credit Facility matures on August 21, 2023. The maximum amount that Cactus LLC may borrow under the ABL Credit Facility is subject to a borrowing base, which is based on a percentage of eligible accounts receivable and eligible inventory, subject to reserves and other adjustments. At March 31, 2020, in accordance with the terms of our borrowing base, we had access to the full $75.0 million revolving credit facility capacity. At March 31, 2020 and December 31, 2019, although there were no borrowings outstanding under the ABL Credit Facility, the applicable margin on our Eurodollar borrowings was 1.5% plus an adjusted base rate of one- or three-month LIBOR. We were in compliance with all covenants under the ABL Credit Facility as of March 31, 2020.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2020
Revenue
Revenue	7. Revenue The majority of our revenues are derived from short-term contracts for fixed consideration. Product sales generally do not include right of return or other significant post-delivery obligations. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. Revenues are recognized when we satisfy a performance obligation by transferring control of the promised goods or providing services to our customers at a point in time, in an amount specified in the contract with our customer and that reflects the consideration we expect to be entitled to in exchange for those goods or services. The majority of our contracts with customers contain a single performance obligation to provide agreed upon products or services. For contracts with multiple performance obligations, we allocate revenue to each performance obligation based on its relative standalone selling price. We do not assess whether promised goods or services are performance obligations if they are immaterial in the context of the contract with the customer. We do not incur any material costs of obtaining contracts. We do not adjust the amount of consideration per the contract for the effects of a significant financing component when we expect, at contract inception, that the period between the transfer of a promised good or service to a customer and when the customer pays for that good or service will be one year or less, which is in substantially all cases. Payment terms and conditions vary, although terms generally include a requirement of payment within 30 to 45 days. Revenues are recognized net of any taxes collected from customers, which are subsequently remitted to governmental authorities. We treat shipping and handling associated with outbound freight as a fulfillment cost instead of as a separate performance obligation. We recognize the cost for the associated shipping and handling when incurred as an expense in cost of sales. We disaggregate revenue into three categories: product revenues, rental revenues and field service and other revenues. We have predominately domestic operations, with a small amount of sales being generated in Australia. The following table presents our revenues disaggregated by category: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2020 2019 Product revenue ​ $ 87,031 ​ 57 % ​ $ 86,640 ​ 55 % Rental revenue ​ ​ 36,163 ​ 23 % ​ ​ 38,497 ​ 24 % Field service and other revenue ​ ​ 30,945 ​ 20 % ​ ​ 33,738 ​ 21 % Total revenue ​ $ 154,139 ​ 100 % ​ $ 158,875 ​ 100 % ​ At March 31, 2020, we had a deferred revenue balance of $1.5 million compared to the December 31, 2019 balance of $1.4 million. Deferred revenue represents our obligation to transfer products to or perform services for a customer for which we have received cash or billed in advance. The revenue that has been deferred will be recognized upon product delivery or as services are performed. As of March 31, 2020, we did not have any contracts with an original length of greater than a year from which revenue is expected to be recognized in the future related to performance obligations that are unsatisfied.

Tax Receivable Agreement

Tax Receivable Agreement	3 Months Ended
	Mar. 31, 2020
Tax Receivable Agreement
Tax Receivable Agreement	8. Tax Receivable Agreement (TRA) In connection with our initial public offering (“IPO”) in February 2018, we entered into the TRA with certain direct and indirect owners of Cactus LLC (the “TRA Holders”). The TRA generally provides for payment by Cactus Inc. to the TRA Holders of 85% of the net cash savings, if any, in U.S. federal, state and local income tax or franchise tax that Cactus Inc. actually realizes or is deemed to realize in certain circumstances. Cactus Inc. will retain the benefit of the remaining 15% of these net cash savings. The TRA liability is calculated by determining the tax basis subject to TRA (“tax basis”) and applying a blended tax rate to the basis differences and calculating the iterative impact. The blended tax rate consists of the U.S. federal income tax rate and an assumed combined state and local income tax rate driven by the apportionment factors applicable to each state. Subsequent changes to the measurement of the TRA liability are recognized in the statements of income as a component of other income (expense), net. As of March 31, 2020, the total liability from the TRA was $216.5 million with $14.6 million reflected in current liabilities based on the expected timing of our next payment. The payments under the TRA will not be conditional on a holder of rights under the TRA having a continued ownership interest in either Cactus LLC or Cactus Inc. The term of the TRA commenced upon completion of our IPO and will continue until all tax benefits that are subject to the TRA have been utilized or expired, unless we exercise our right to terminate the TRA. If we elect to terminate the TRA early (or it is terminated early due to certain mergers, asset sales, other forms of business combinations or other changes of control), our obligations under the TRA would accelerate and we would be required to make an immediate payment equal to the present value of the anticipated future payments to be made by us under the TRA and such payment is expected to be substantial. The calculation of anticipated future payments will be based upon certain assumptions and deemed events set forth in the TRA, including the assumptions that (i) we have sufficient taxable income to fully utilize the tax benefits covered by the TRA and (ii) any CW Units (other than those held by Cactus Inc.) outstanding on the termination date are deemed to be redeemed on the termination date. Any early termination payment may be made significantly in advance of the actual realization, if any, of the future tax benefits to which the termination payment relates. We may elect to defer payments due under the TRA if we do not have available cash to satisfy our payment obligations under the TRA. Any such deferred payments under the TRA generally will accrue interest from the due date for such payment until the payment date. ​

Equity

Equity	3 Months Ended
	Mar. 31, 2020
Equity
Equity	​ 9. Equity As of March 31, 2020, Cactus Inc. owned 62.9% of Cactus LLC as compared to 62.8% as of December 31, 2019. As of March 31, 2020, Cactus Inc. had outstanding 47.4 million shares of Class A common stock (representing 62.9% of the total voting power) and 28.0 million shares of Class B common stock (representing 37.1% of the total voting power). Redemptions of CW Units Pursuant to the First Amended and Restated Limited Liability Company Operating Agreement of Cactus Wellhead, LLC (the “Cactus Wellhead LLC Agreement”), holders of CW Units are entitled to redeem their CW Units, which results in additional Class A common stock outstanding. Since our IPO in February 2018, 32.6 million CW Units have been redeemed in exchange for shares of Class A common stock with 8.5 million occurring during the three months ended March 31, 2019 as part of a secondary offering. We did not receive any of the proceeds as part of the offering and incurred $1.0 million in offering expenses which were recorded in other expense, net, in the consolidated statement of income. No CW Unit redemptions occurred during the three months ended March 31, 2020. ​ Dividends On January 30, 2020, our board of directors declared a cash dividend of $0.09 per share of Class A common stock of which $4.3 million was paid on March 19, 2020. A de minimis amount of dividends was paid during 2020 to restricted stock unit holders with accrued dividends that vested during the period. Member Distributions Distributions made by Cactus LLC are generally required to be made pro rata among all its members. For the three months ended March 31, 2020, Cactus LLC distributed $3.7 million to Cactus Inc. to fund the March 19, 2020 dividend payment and made pro rata distributions to its other members totaling $2.2 million over the same period. During the three months ended March 31, 2019, Cactus LLC made $0.2 million in pro rata distributions to its members other than Cactus Inc. Limitation of Members’ Liability Under the terms of the Cactus Wellhead LLC Agreement, the members of Cactus LLC are not obligated for debt, liabilities, contracts or other obligations of Cactus LLC. Profits and losses are allocated to members as defined in the Cactus LLC Agreement.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies
Commitments and Contingencies	10. Commitments and Contingencies We are involved in various disputes arising in the ordinary course of business. Management does not believe the outcome of these disputes will have a material adverse effect on our consolidated financial position or consolidated results of operations.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2020
Earnings Per Share
Earnings Per Share	11. Earnings per Share Basic earnings per share of Class A common stock is calculated by dividing the net income attributable to Cactus Inc. during the period by the weighted average number of shares of Class A common stock outstanding during the same period. Diluted earnings per share of Class A common stock is calculated by dividing the net income attributable to Cactus Inc. during that period by the weighted average number of common shares outstanding assuming all potentially dilutive shares were issued. We use the “if-converted” method to determine the potential dilutive effect of outstanding CW Units (and corresponding shares of outstanding Class B common stock), and the treasury stock method to determine the potential dilutive effect of unvested restricted stock units assuming that the proceeds will be used to purchase shares of Class A common stock. The following table summarizes the basic and diluted earnings per share calculations: ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ 2020 2019 Numerator: ​ ​ Net income attributable to Cactus Inc.—basic ​ $ 18,983 ​ $ 26,807 Net income attributable to non-controlling interest (1) ​ ​ 11,166 ​ ​ 17,505 Net income attributable to Cactus Inc.—diluted (1) ​ $ 30,149 ​ $ 44,312 Denominator: ​ ​ Weighted average Class A shares outstanding—basic ​ 47,270 ​ 38,719 Effect of dilutive shares (2) ​ ​ 28,125 ​ ​ 36,527 Weighted average Class A shares outstanding—diluted (2) ​ ​ 75,395 ​ ​ 75,246 ​ ​ ​ ​ ​ ​ ​ Earnings per Class A share—basic ​ $ 0.40 ​ $ 0.69 Earnings per Class A share—diluted (1) (2) ​ $ 0.40 ​ $ 0.59 ​ (1) Under the if-converted method for the three months ended March 31, 2020 and 2019, the numerator is adjusted in the calculation of diluted earnings per share to include $11.2 million and $17.5 million, respectively, attributable to the non-controlling interest calculated as its pre-tax income adjusted for a corporate effective tax rate of 26% and 24%, respectively. (2) Diluted earnings per share for the three months ended March 31, 2020 and 2019 includes 28.0 million and 36.3 million, respectively, weighted average shares of Class B common stock assuming conversion, plus the dilutive effect of restricted stock unit awards.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2020
Subsequent Events
Subsequent Events	12. Subsequent Events As a result of significant declines in sales activity, we notified 277 U.S. associates on March 31, 2020 that their position with the Company had been eliminated. Due to the fact that the outlook for our industry has continued to rapidly deteriorate, we reduced our U.S. workforce by an additional 212 associates in April.

Preparation of Interim Financ_2

Preparation of Interim Financial Statements and Other Items (Policies)	3 Months Ended
	Mar. 31, 2020
Preparation Of Interim Financial Statements And Other Items
Basis of Presentation	Basis of Presentation The financial statements presented in this report represent the consolidation of Cactus Inc. (“Cactus Inc.”) and its subsidiaries (“the Company”), including Cactus Wellhead, LLC (“Cactus LLC”). Cactus Inc. is a holding company whose only material asset is an equity interest consisting of units representing limited liability company interests in Cactus LLC (“CW Units”). Cactus Inc. is the sole managing member of Cactus LLC and operates and controls all of the business and affairs of Cactus LLC and conducts its business through Cactus LLC and its subsidiaries. As a result, Cactus Inc. consolidates the financial results of Cactus LLC and its subsidiaries and reports a non-controlling interest related to the portion of CW Units not owned by Cactus Inc., which reduces net income attributable to holders of Cactus Inc.’s Class A common stock, par value $0.01 per share (“Class A common stock”). Except as otherwise indicated or required by the context, all references to “Cactus,” “we,” “us” and “our” refer to Cactus Inc. and its consolidated subsidiaries. The unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information. Accordingly, these consolidated financial statements do not include all information or notes required by generally accepted accounting principles for annual financial statements and should be read together with our Annual Report on Form 10-K for the year ended December 31, 2019. The consolidated financial statements include all adjustments, which are of a normal recurring nature, unless otherwise disclosed, necessary for a fair statement of the consolidated financial statements for the interim periods. The results of operations for any interim period are not necessarily indicative of the results to be expected for the full year.
Use of Estimates	Use of Estimates In preparing our consolidated financial statements in conformity with GAAP, we make numerous estimates and assumptions that affect the accounting for and recognition and disclosure of assets, liabilities, equity, revenues and expenses. We must make these estimates and assumptions because certain information that we use is dependent on future events, cannot be calculated with a high degree of precision from available data or is not otherwise capable of being readily calculated based on accepted methodologies. In some cases, these estimates are particularly difficult to determine, and we must exercise significant judgment. Actual results could differ materially from the estimates and assumptions that we use in the preparation of our consolidated financial statements.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Standards Adopted Effective January 1, 2020, we adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The new guidance changed the measurement of credit losses on financial assets measured at amortized cost, including but not limited to trade receivables. The new guidance replaced the prior methodology for recognizing credit losses when it is probable that a loss has been incurred with an expected loss model that requires consideration of a broader range of information to estimate expected credit losses over the lifetime of an asset. The allowance for credit losses under the new guidance represents the portion of the asset’s amortized cost basis that we do not expect to collect over the asset’s contractual life, considering past events, current conditions and reasonable and supportable forecasts of future economic conditions. Adoption of the standard did not impact our consolidated financial statements other than certain expanded disclosures. See further discussion and expanded disclosures at Note 3. We also adopted FASB ASU 2017-04, Intangibles – Goodwill and Other (Topic 350) effective January 1, 2020. The new standard simplified the accounting for goodwill impairment by eliminating Step 2 of the current goodwill impairment test. Under the new standard, an entity performs its goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount and recognizes an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. The loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Adoption of this standard did not impact our consolidated financial statements.
Reclassifications	Reclassifications Certain prior period amounts have been reclassified to conform to the current period presentation.

Accounts Receivable and Allow_2

Accounts Receivable and Allowance for Credit Losses (Tables)	3 Months Ended
	Mar. 31, 2020
Accounts Receivable and Allowance for Credit Losses
Schedule of rollforward of allowance for credit losses	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at ​ ​ Beginning of ​ Expense ​ ​ ​ ​ ​ ​ ​ End of ​ Period (recovery) Write off Other Period Three Months Ended March 31, 2020 ​ $ 837 ​ $ 625 ​ $ (32) ​ $ — ​ $ 1,430 Three Months Ended March 31, 2019 ​ 576 ​ — ​ — ​ 2 ​ 578

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2020
Inventories
Summary of inventories	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2020 2019 Raw materials ​ $ 1,702 ​ $ 1,538 Work-in-progress ​ 3,857 ​ 4,619 Finished goods ​ 94,742 ​ 107,214 ​ ​ $ 100,301 ​ $ 113,371

Property and Equipment, net (Ta

Property and Equipment, net (Tables)	3 Months Ended
	Mar. 31, 2020
Property and Equipment, net
Schedule of property and equipment net	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2020 2019 Land ​ $ 3,203 ​ $ 3,203 Buildings and improvements ​ 21,812 ​ 21,655 Machinery and equipment ​ 55,826 ​ 55,494 Vehicles under finance lease ​ ​ 24,936 ​ ​ 24,275 Rental equipment ​ 169,307 ​ 161,156 Furniture and fixtures ​ 1,762 ​ 1,684 Computers and software ​ 3,475 ​ 3,317 Gross property and equipment ​ 280,321 ​ 270,784 Less: Accumulated depreciation ​ (130,853) ​ (123,397) Net property and equipment ​ 149,468 ​ 147,387 Construction in progress ​ 13,403 ​ 14,361 Total property and equipment, net ​ $ 162,871 ​ $ 161,748

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2020
Revenue
Revenues disaggregated by category	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2020 2019 Product revenue ​ $ 87,031 ​ 57 % ​ $ 86,640 ​ 55 % Rental revenue ​ ​ 36,163 ​ 23 % ​ ​ 38,497 ​ 24 % Field service and other revenue ​ ​ 30,945 ​ 20 % ​ ​ 33,738 ​ 21 % Total revenue ​ $ 154,139 ​ 100 % ​ $ 158,875 ​ 100 %

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2020
Earnings Per Share
Summary of basic and diluted earnings per share	The following table summarizes the basic and diluted earnings per share calculations: ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ 2020 2019 Numerator: ​ ​ Net income attributable to Cactus Inc.—basic ​ $ 18,983 ​ $ 26,807 Net income attributable to non-controlling interest (1) ​ ​ 11,166 ​ ​ 17,505 Net income attributable to Cactus Inc.—diluted (1) ​ $ 30,149 ​ $ 44,312 Denominator: ​ ​ Weighted average Class A shares outstanding—basic ​ 47,270 ​ 38,719 Effect of dilutive shares (2) ​ ​ 28,125 ​ ​ 36,527 Weighted average Class A shares outstanding—diluted (2) ​ ​ 75,395 ​ ​ 75,246 ​ ​ ​ ​ ​ ​ ​ Earnings per Class A share—basic ​ $ 0.40 ​ $ 0.69 Earnings per Class A share—diluted (1) (2) ​ $ 0.40 ​ $ 0.59 ​ (1) Under the if-converted method for the three months ended March 31, 2020 and 2019, the numerator is adjusted in the calculation of diluted earnings per share to include $11.2 million and $17.5 million, respectively, attributable to the non-controlling interest calculated as its pre-tax income adjusted for a corporate effective tax rate of 26% and 24%, respectively. (2) Diluted earnings per share for the three months ended March 31, 2020 and 2019 includes 28.0 million and 36.3 million, respectively, weighted average shares of Class B common stock assuming conversion, plus the dilutive effect of restricted stock unit awards.

Preparation of Interim Financ_3

Preparation of Interim Financial Statements and Other Items (Details) - $ / shares	Mar. 31, 2020	Dec. 31, 2019
Class A Common Stock
Organization and Nature of Operations
Common stock, par value	$ 0.01	$ 0.01
Class B Common Stock
Organization and Nature of Operations
Common stock, par value	$ 0.01	$ 0.01

Concentrations Risks and Unce_2

Concentrations Risks and Uncertainties (Details) $ in Millions	1 Months Ended	3 Months Ended
	Mar. 31, 2020USD ($)position	Mar. 31, 2020USD ($)positioncustomer	Mar. 31, 2019USD ($)customer	Dec. 31, 2019USD ($)
Customer | Total revenues
Concentrations, Risks and Uncertainties
Number of Customers | customer		1	1
Concentration of risk (as a percent)		10.00%	12.00%
Supplier concentration | Purchases
Concentrations, Risks and Uncertainties
Concentration of risk (as a percent)		7.00%	20.00%
Purchases from the vendor		$ 2.9	$ 12.7
Accounts Payable	$ 1.9	$ 1.9		$ 4.3
Low Oil Prices And The Coronavirus (COVID-19) [Member]
Concentrations, Risks and Uncertainties
Restructuring and Related Cost, Number of Positions Eliminated | position	277	277
Low Oil Prices And The Coronavirus (COVID-19) [Member] | Chief Executive Officer [Member]
Concentrations, Risks and Uncertainties
Reduction To Salary	50.00%
Low Oil Prices And The Coronavirus (COVID-19) [Member] | Executive officers | Maximum
Concentrations, Risks and Uncertainties
Reduction To Salary	50.00%
Low Oil Prices And The Coronavirus (COVID-19) [Member] | Executive officers | Minimum
Concentrations, Risks and Uncertainties
Reduction To Salary	25.00%
Low Oil Prices And The Coronavirus (COVID-19) [Member] | United States Workforce [Member] | Maximum
Concentrations, Risks and Uncertainties
Reduction To Salary	15.00%
Low Oil Prices And The Coronavirus (COVID-19) [Member] | United States Workforce [Member] | Minimum
Concentrations, Risks and Uncertainties
Reduction To Salary	2.00%
Low Oil Prices And The Coronavirus (COVID-19) [Member] | Board of Directors
Concentrations, Risks and Uncertainties
Reduction To Compensation	25.00%

Accounts Receivable and Allow_3

Accounts Receivable and Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Accounts Receivable
Unbilled revenue	$ 21,500		$ 23,800
Allowance for credit losses
Balance at Beginning of Period	837	$ 576
Expense (recovery)	625
Write off	(32)
Other		2
Balance at End of Period	$ 1,430	$ 578

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Summary of inventories
Raw materials	$ 1,702	$ 1,538
Work-in-progress	3,857	4,619
Finished goods	94,742	107,214
Total inventory	$ 100,301	$ 113,371

Property and Equipment, net (De

Property and Equipment, net (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Gross property and equipment	$ 280,321	$ 270,784
Less: Accumulated depreciation	(130,853)	(123,397)
Net property and equipment	149,468	147,387
Total property and equipment, net	162,871	161,748
Land
Property, Plant and Equipment [Line Items]
Gross property and equipment	3,203	3,203
Buildings and improvements
Property, Plant and Equipment [Line Items]
Gross property and equipment	21,812	21,655
Machinery and equipment
Property, Plant and Equipment [Line Items]
Gross property and equipment	55,826	55,494
Finance lease right-of-use asset
Property, Plant and Equipment [Line Items]
Gross property and equipment	24,936	24,275
Rental equipment
Property, Plant and Equipment [Line Items]
Gross property and equipment	169,307	161,156
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Gross property and equipment	1,762	1,684
Computers and software
Property, Plant and Equipment [Line Items]
Gross property and equipment	3,475	3,317
Construction in progress
Property, Plant and Equipment [Line Items]
Total property and equipment, net	$ 13,403	$ 14,361

Debt - Credit agreement (Detail

Debt - Credit agreement (Details) - USD ($) $ in Millions	Aug. 21, 2018	Mar. 31, 2020	Dec. 31, 2019
Long-term Debt
Long-term debt outstanding		$ 0	$ 0
One-month LIBOR
Long-term Debt
Applicable margin rate (as a percent)		1.50%	1.50%
Variable reference rate		one-month LIBOR	one-month LIBOR
Three-month LIBOR
Long-term Debt
Applicable margin rate (as a percent)		1.50%	1.50%
Variable reference rate		three-month LIBOR	three-month LIBOR
ABL Credit Facility
Long-term Debt
Long-term debt outstanding		$ 0	$ 0
Revolving credit facility available per borrowing base terms		$ 75
Cactus LLC | ABL Credit Facility
Long-term Debt
Debt term	5 years
Maximum borrowing capacity	$ 75
Cactus LLC | Letters of credit
Long-term Debt
Maximum borrowing capacity	$ 15

Revenue - Disaggregated by cate

Revenue - Disaggregated by category (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disaggregation of Revenue [Line Items]
Total revenues	$ 154,139	$ 158,875
Revenue as a percentage	100.00%	100.00%
Product revenue
Disaggregation of Revenue [Line Items]
Total revenues	$ 87,031	$ 86,640
Revenue as a percentage	57.00%	55.00%
Rental revenue
Disaggregation of Revenue [Line Items]
Total revenues	$ 36,163	$ 38,497
Revenue as a percentage	23.00%	24.00%
Field service and other revenue
Disaggregation of Revenue [Line Items]
Total revenues	$ 30,945	$ 33,738
Revenue as a percentage	20.00%	21.00%

Revenue - Contracts with custom

Revenue - Contracts with customers (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Contract Balances
Deferred revenue	$ 1.5	$ 1.4

Tax Receivable Agreement (Detai

Tax Receivable Agreement (Details) - USD ($) $ in Thousands	1 Months Ended
	Feb. 28, 2018	Mar. 31, 2020	Dec. 31, 2019
Tax Receivable Agreement
Tax savings payable to TRA Holders (as a percent)	85.00%
Tax savings benefit recorded as APIC (as a percent)	15.00%
Total TRA liability		$ 216,500
Tax Receivable Agreement Liability Current		$ 14,630	$ 14,630

Equity - Redemptions and Divide

Equity - Redemptions and Dividends (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	Mar. 19, 2020	Jan. 30, 2020	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Mar. 31, 2019
Equity
Dividends declared per common share			$ 0.09
CACTUS INC
Equity
Cash distributions to unit holders			$ 3.7
CW Unit Holders other than Cactus, Inc.
Equity
Cash distributions to unit holders	$ 2.2			$ 0.2
Cactus LLC
Equity
Limited Liability Company or Limited Partnership, Members or Limited Partners, Ownership Interest			62.90%		62.80%
March 2019 Secondary Offering
Equity
Offering expenses				$ 1		$ 1
Class A Common Stock
Equity
Common Stock, Shares, Outstanding			47,398		47,159
Shares Outstanding Per Class As Percent Of Total			62.90%
Common stock, par value			$ 0.01		$ 0.01
Dividends declared per common share		$ 0.09
Dividend paid	$ 4.3
Class A Common Stock | CW Units Redeemed For Class A Common Stock [Member]
Equity
CW Unit redemptions				8,500		32,600
Class B Common Stock
Equity
Common Stock, Shares, Outstanding			27,958		27,958
Shares Outstanding Per Class As Percent Of Total			37.10%
Common stock, par value			$ 0.01		$ 0.01

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Numerator:
Net income attributable to Cactus Inc.	$ 18,983	$ 26,807
Net income attributable to non-controlling interest (1)	11,166	17,505
Net income attributable to Cactus Inc. - diluted (1)	$ 30,149	$ 44,312
Denominator:
Effect of dilutive shares (2)	28,125	36,527
After-tax income attributable to non-controlling interest	$ 11,200	$ 17,500
Corporate effective interest rate, if-converted method	26.00%	24.00%
Class A Common Stock
Denominator:
Weighted average Class A Shares Outstanding - basic	47,270	38,719
Weighted average Class A Shares Outstanding - diluted (2)	75,395	75,246
Earnings per Class A share - basic	$ 0.40	$ 0.69
Earnings per Class A Share - diluted (1) (2)	$ 0.40	$ 0.59
Class B Common Stock
Denominator:
Effect of dilutive shares (2)	28,000	36,300

Subsequent Events (Details)

Subsequent Events (Details) - position	1 Months Ended		3 Months Ended
	Apr. 30, 2020	Mar. 31, 2020	Mar. 31, 2020
Low Oil Prices And The Coronavirus (COVID-19) [Member]
Subsequent Event [Line Items]
Restructuring and Related Cost, Number of Positions Eliminated		277	277
Subsequent event
Subsequent Event [Line Items]
Restructuring and Related Cost, Number of Positions Eliminated	212