Net (Loss) Income per Share

6 Months Ended

Jun. 30, 2020

Basic net (loss) income per share measures the performance of an entity over the reporting period. Diluted net (loss) 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 (loss) income to common stockholders and net (loss) income per share computations for the periods indicated based on a weighted average number of common stock outstanding:


	Three Months Ended						Six Months Ended
(In thousands)	June 30, 2020		June 30, 2019		June 30, 2020		June 30, 2019
Basic Net (Loss) Income Per Share
Numerator:
Net (loss) income attributable to Liberty Oilfield Services Inc. stockholders	$	(45,771)	$	22,032	$	(44,051)	$	40,153
Denominator:
Basic weighted average common shares outstanding	83,292		68,404		82,472		67,918
Basic net (loss) income per share attributable to Liberty Oilfield Services Inc. stockholders	$	(0.55)	$	0.32	$	(0.53)	$	0.59
Diluted Net (Loss) Income Per Share
Numerator:
Net (loss) income attributable to Liberty Oilfield Services Inc. stockholders	$	(45,771)	$	22,032	$	(44,051)	$	40,153
Effect of exchange of the shares of Class B Common Stock for shares of Class A Common Stock	—		13,992		—		25,825
Diluted net (loss) income attributable to Liberty Oilfield Services Inc. stockholders	$	(45,771)	$	36,024	$	(44,051)	$	65,978
Denominator:
Basic weighted average shares outstanding	83,292		68,404		82,472		67,918
Effect of dilutive securities:
Restricted stock	—		556		—		578
Restricted stock units	—		1,808		—		1,717
Class B Common Stock	—		43,570		—		44,064
Diluted weighted average shares outstanding	83,292		114,338		82,472		114,277
Diluted net (loss) income per share attributable to Liberty Oilfield Services Inc. stockholders	$	(0.55)	$	0.32	$	(0.53)	$	0.58

In accordance with GAAP, diluted weighted average common shares outstanding for the three and six months ended June 30, 2020 exclude 29,392 and 30,015, respectively, weighted average shares of Class B Common Stock, 246 and 257, respectively, weighted average shares of restricted stock, and 1,914 and 2,124, respectively, weighted average shares of restricted stock units.