INCOME (LOSS) PER SHARE

6 Months Ended

Jun. 30, 2022

INCOME (LOSS) PER SHARE

INCOME (LOSS) PER SHARE

NOTE 15—INCOME (LOSS) PER SHARE

Income (loss) per share is based on the amount of loss allocated to the stockholders and the weighted-average number of shares outstanding during the period for each class of common stock. Outstanding options to purchase 1,846,578, 2,132,690, 1,846,578 and 2,132,690 shares of Class A Common Stock are not included in the calculation of diluted weighted-average shares outstanding for the Current Quarter, Prior Quarter, Current Period and Prior Period respectively, as their effect is antidilutive.

The following tables present the Company’s calculation of basic and diluted loss per share for the Current and Prior Quarter and the Current and Prior Period (dollars in thousands, except share and per share amounts):

	Three months ended June 30, 2022						Three months ended June 30, 2021
	Select Energy						Select Energy
	Services, Inc.		Class A		Class B		Services, Inc.		Class A		Class B
Numerator:
Net income (loss)	$	14,581					$	(19,615)
Net (income) loss attributable to noncontrolling interests		(2,078)						3,048
Net income (loss) attributable to Select Energy Services, Inc. — basic	$	12,503	$	12,503	$	—	$	(16,567)	$	(16,567)	$	—
Add: Reallocation of net income (loss) attributable to noncontrolling interests for the dilutive effect of restricted stock		18		18		—		—		—		—
Add: Reallocation of net income (loss) attributable to noncontrolling interests for the dilutive effect of performance units		12		12		—		—		—		—
Net income (loss) attributable to Select Energy Services, Inc. — diluted	$	12,533	$	12,533	$	—	$	(16,567)	$	(16,567)	$	—
Denominator:
Weighted-average shares of common stock outstanding — basic				93,833,504		16,221,101				85,244,439		16,221,101
Dilutive effect of restricted stock				904,023		—				—		—
Dilutive effect of performance share units				618,282		—				—		—
Dilutive effect of ESPP				80		—				—		—
Weighted-average shares of common stock outstanding — diluted				95,355,889		16,221,101				85,244,439		16,221,101
Income (loss) per share:
Basic			$	0.13	$	—			$	(0.19)	$	—
Diluted			$	0.13	$	—			$	(0.19)	$	—

	Six months ended June 30, 2022						Six months ended June 30, 2021
	Select Energy						Select Energy
	Services, Inc.		Class A		Class B		Services, Inc.		Class A		Class B
Numerator:
Net income (loss)	$	22,566					$	(47,036)
Net (income) loss attributable to noncontrolling interests		(3,261)						7,362
Net income (loss) attributable to Select Energy Services, Inc. — basic	$	19,305	$	19,305	$	—		(39,674)	$	(39,674)	$	—
Add: Reallocation of net loss (income) attributable to noncontrolling interests for the dilutive effect of restricted stock		34		34		—		—		—		—
Add: Reallocation of net loss (income) attributable to noncontrolling interests for the dilutive effect of performance units		18		18		—		—		—		—
Net income (loss) attributable to Select Energy Services, Inc. — diluted	$	19,357	$	19,357	$	—	$	(39,674)	$	(39,674)	$	—
Denominator:
Weighted-average shares of common stock outstanding — basic				92,833,593		16,221,101				85,118,851		16,221,101
Dilutive effect of restricted stock				1,099,937		—				—		—
Dilutive effect of performance share units				573,490		—				—		—
Dilutive effect of ESPP				157		—				—		—
Weighted-average shares of common stock outstanding — diluted				94,507,178		16,221,101				85,118,851		16,221,101
Income (loss) per share:
Basic			$	0.21	$	—			$	(0.47)	$	—
Diluted			$	0.20	$	—			$	(0.47)	$	—