Net Income per Share

3 Months Ended

Mar. 31, 2020

Basic net income per share measures the performance of an entity over the reporting period. Diluted net income per share measures the performance of an entity over the reporting period while giving effect to all potentially dilutive common shares that were outstanding during the period. The Company uses the “if-converted” method to determine the potential dilutive effect of its Class B Common Stock and the treasury stock method to determine the potential dilutive effect of outstanding restricted stock and restricted stock units.

The following table reflects the allocation of net income to common stockholders and net income per share computations for the periods indicated based on a weighted average number of common stock outstanding:


	Three Months Ended
(In thousands)	March 31, 2020		March 31, 2019
Basic Net Income Per Share
Numerator:
Net income attributable to Liberty Oilfield Services Inc. stockholders	$	1,720	$	18,121
Denominator:
Basic weighted average common shares outstanding	81,651		67,427
Basic net income per share attributable to Liberty Oilfield Services Inc. stockholders	$	0.02	$	0.27
Diluted Net Income Per Share
Numerator:
Net income attributable to Liberty Oilfield Services Inc. stockholders	$	1,720	$	18,121
Effect of exchange of the shares of Class B Common Stock for shares of Class A Common Stock	632		11,831
Diluted net income attributable to Liberty Oilfield Services Inc. stockholders	$	2,352	$	29,952
Denominator:
Basic weighted average shares outstanding	81,651		67,427
Effect of dilutive securities:
Restricted stock	268		601
Restricted stock units	2,394		1,581
Class B Common Stock	30,639		44,562
Diluted weighted average shares outstanding	114,952		114,171
Diluted net income per share attributable to Liberty Oilfield Services Inc. stockholders	$	0.02	$	0.26