NOTE 15—EARNINGS PER SHARE

Earnings per share are based on the amount of income allocated to the shareholders and the weighted‑average number of shares outstanding during the period for each class of common stock. Outstanding options to purchase 597,749 and 977,352 shares are not included in the calculation of diluted weighted-average shares outstanding for the three and nine months ended September 30, 2017 as the effect is antidilutive.

Earnings related to periods prior to the reorganization and 144A Offering are attributable to the Predecessor. The following table presents the Company’s calculation of basic and diluted earnings per share for the three and nine months ended September 30, 2017 and 2016 (dollars in thousands, except share and per share amounts):


	Three months ended September 30,				Nine months ended September 30,
	2017		2016		2017		2016
Net income (loss)	$	2,593	$	(35,204)	$	(20,177)	$	(289,235)
Net loss attributable to Predecessor		—		34,931		—		285,359
Net (income) loss attributable to noncontrolling interests		(1,369)		273		13,013		3,876
Net income (loss) attributable to Select Energy Services, Inc.	$	1,224	$	—	$	(7,164)	$	—
Allocation of net income (loss) attributable to:
Class A-1 stockholders	$	—			$	(2,679)
Class A stockholders		1,224				(4,485)
Class B stockholders		—				—
	$	1,224			$	(7,164)
Weighted average shares outstanding:
Class A-1-Basic		—				9,671,795
Class A-Basic		30,336,923				16,189,997
Class B-Basic		38,462,541				38,462,541
Net income (loss) per share attributable to common stockholders:
Class A-1-Basic	$	—			$	(0.28)
Class A-Basic	$	0.04			$	(0.28)
Class B-Basic	$	—			$	—
Weighted average shares outstanding:
Class A-1-Diluted		—				9,671,795
Class A-Diluted		30,357,572				16,189,997
Class B-Diluted		38,462,541				38,462,541
Net income (loss) per share attributable to common stockholders:
Class A-1-Diluted	$	—			$	(0.28)
Class A-Diluted	$	0.04			$	(0.28)
Class B-Diluted	$	—			$	—