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)	$	—