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INCOME (LOSS) PER SHARE
9 Months Ended
Sep. 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 1,677,927, 2,105,965, 1,677,927 and 2,105,965 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 September 30, 2022

Three months ended September 30, 2021

Select Energy

Select Energy

    

Services, Inc.

    

Class A

    

Class B

    

Services, Inc.

    

Class A

    

Class B

Numerator:

Net income (loss)

$

24,717

$

(14,204)

Net (income) loss attributable to noncontrolling interests

(3,393)

2,160

Net income (loss) attributable to Select Energy Services, Inc. — basic

$

21,324

$

21,324

$

$

(12,044)

$

(12,044)

$

Add: Reallocation of net income (loss) attributable to noncontrolling interests for the dilutive effect of restricted stock

30

30

Add: Reallocation of net income (loss) attributable to noncontrolling interests for the dilutive effect of performance units

20

20

Net income (loss) attributable to Select Energy Services, Inc. — diluted

$

21,374

$

21,374

$

$

(12,044)

$

(12,044)

$

Denominator:

Weighted-average shares of common stock outstanding — basic

94,014,963

16,221,101

88,596,736

16,221,101

Dilutive effect of restricted stock

893,562

Dilutive effect of performance share units

611,763

Dilutive effect of ESPP

77

Weighted-average shares of common stock outstanding — diluted

95,520,365

16,221,101

88,596,736

16,221,101

Income (loss) per share:

Basic

$

0.23

$

$

(0.14)

$

Diluted

$

0.22

$

$

(0.14)

$

Nine months ended September 30, 2022

Nine months ended September 30, 2021

Select Energy

Select Energy

    

Services, Inc.

    

Class A

    

Class B

    

Services, Inc.

    

Class A

    

Class B

Numerator:

Net income (loss)

$

47,283

$

(61,240)

Net (income) loss attributable to noncontrolling interests

(6,654)

9,522

Net income (loss) attributable to Select Energy Services, Inc. — basic

$

40,629

$

40,629

$

(51,718)

$

(51,718)

$

Add: Reallocation of net income (loss) attributable to noncontrolling interests for the dilutive effect of restricted stock

62

62

Add: Reallocation of net income (loss) attributable to noncontrolling interests for the dilutive effect of performance units

33

33

Net income (loss) attributable to Select Energy Services, Inc. — diluted

$

40,724

$

40,724

$

$

(51,718)

$

(51,718)

$

Denominator:

Weighted-average shares of common stock outstanding — basic

93,231,711

16,221,101

86,290,886

16,221,101

Dilutive effect of restricted stock

973,378

Dilutive effect of performance share units

509,336

Dilutive effect of ESPP

234

Weighted-average shares of common stock outstanding — diluted

94,714,659

16,221,101

86,290,886

16,221,101

Income (loss) per share:

Basic

$

0.44

$

$

(0.60)

$

Diluted

$

0.43

$

$

(0.60)

$