Net (Loss) Income per Share

3 Months Ended

Mar. 31, 2021

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, 2021		March 31, 2020
Basic Net (Loss) Income Per Share
Numerator:
Net (loss) income attributable to Liberty Oilfield Services Inc. stockholders	$	(34,205)	$	1,720
Denominator:
Basic weighted average common shares outstanding	163,207		81,651
Basic net (loss) income per share attributable to Liberty Oilfield Services Inc. stockholders	$	(0.21)	$	0.02
Diluted Net (Loss) Income Per Share
Numerator:
Net (loss) income attributable to Liberty Oilfield Services Inc. stockholders	$	(34,205)	$	1,720
Effect of exchange of the shares of Class B Common Stock for shares of Class A Common Stock	—		632
Diluted net (loss) income attributable to Liberty Oilfield Services Inc. stockholders	$	(34,205)	$	2,352
Denominator:
Basic weighted average shares outstanding	163,207		81,651
Effect of dilutive securities:
Restricted stock	—		268
Restricted stock units	—		2,394
Class B Common Stock	—		30,639
Diluted weighted average shares outstanding	163,207		114,952
Diluted net (loss) income per share attributable to Liberty Oilfield Services Inc. stockholders	$	(0.21)	$	0.02