NONCONTROLLING INTERESTS

9 Months Ended

Sep. 30, 2022

NONCONTROLLING INTERESTS

NOTE 14—NONCONTROLLING INTERESTS

The Company’s noncontrolling interests fall into two categories as follows:

●

Noncontrolling interests attributable to joint ventures formed for water-related services.

●

Noncontrolling interests attributable to holders of Class B Common Stock.


	As of		As of
	September 30, 2022		December 31, 2021

	(in thousands)
Noncontrolling interests attributable to joint ventures formed for water-related services	$	1,012	$	1,091
Noncontrolling interests attributable to holders of Class B Common Stock		109,027		101,987
Total noncontrolling interests	$	110,039	$	103,078

During the Prior Period, the Company initiated the dissolution of one of its water-related services joint ventures and increased its ownership interest in another joint venture, which, combined, eliminated $0.9 million of noncontrolling interest. Additionally, for all periods presented, there were changes in Select Inc.’s ownership interest in SES Holdings. The effects of the changes in Select Inc.’s ownership interest in SES Holdings are as follows:


	Nine months ended September 30,
	2022		2021

	(in thousands)
Net income (loss) attributable to Select Energy Services, Inc.	$	40,629	$	(51,718)
Transfers from (to) noncontrolling interests:
(Decrease) increase in additional paid-in capital as a result of issuing shares for business combinations		(1,356)		359
Decrease in additional paid-in capital as a result of stock option exercises		(24)		—
Increase in additional paid-in capital as a result of restricted stock issuance, net of forfeitures		2,166		1,850
Increase (decrease) in additional paid-in capital as a result of the repurchase of SES Holdings LLC Units		438		(19)
(Decrease) increase in additional paid-in capital as a result of the Employee Stock Purchase Plan shares issued		(1)		1
Change to equity from net income (loss) attributable to Select Energy Services, Inc. and transfers from noncontrolling interests	$	41,852	$	(49,527)