Note 11 — Earnings per Share

Earnings per share is based on the amount of net income allocated to the shareholders and the weighted average number of shares outstanding during the period for each class of Common Stock.



	Three Months Ended March 31,
	2020		2019
Income (numerator):
Basic:
Net income attributable to Ranger Energy Services, Inc.	$	1.5	$	2.0
Net income attributable to Class A Common Stock	$	1.5	$	2.0

Diluted:
Net income attributable to Ranger Energy Services, Inc.	$	1.5	$	2.0
Effect of noncontrolling interest, net of tax	0.9		0.9
Net income attributable to Class A Common Stock	$	2.4	$	2.9

Weighted average shares (denominator):
Weighted average number of shares - basic	8,617,781		8,448,719
Effect of share-based awards	65,749		299,556
Effect of noncontrolling interest, net of tax	6,866,154		6,866,154
Weighted average number of shares - diluted	15,549,684		15,614,429

Basic income per share	$	0.17	$	0.24
Diluted income per share	$	0.15	$	0.19

During the three months ended March 31, 2020 and 2019, the Company excluded 0.7 million and 1.0 million equity-based awards in calculating diluted earnings per share, as the effect was anti-dilutive. During the three months ended March 31, 2019, included in the diluted earnings per share are 206,897 shares associated with a related party liability.