Earnings (Loss) per Share

9 Months Ended

Sep. 30, 2020

Note 11 — Earnings (Loss) per Share

Earnings (loss) per share is based on the amount of net income (loss) allocated to the shareholders and the weighted average number of shares outstanding during the period for each class of Common Stock. The numerator and denominator used to compute earnings (loss) per share were as follows (in millions, except share and per share data):


	Three Months Ended September 30,						Nine Months Ended September 30,
	2020		2019		2020		2019
Income (loss) (numerator):
Basic:
Net income (loss) attributable to Ranger Energy Services, Inc.	$	(3.2)	$	(0.5)	$	(6.6)	$	2.5
Net income (loss) attributable to Class A Common Stock	$	(3.2)	$	(0.5)	$	(6.6)	$	2.5

Diluted:
Net income (loss) attributable to Ranger Energy Services, Inc.	$	(3.2)	$	(0.5)	$	(6.6)	$	2.5
Effect of noncontrolling interest, net of tax	—		—		—		1.3
Net income (loss) attributable to Class A Common Stock	$	(3.2)	$	(0.5)	$	(6.6)	$	3.8

Weighted average shares (denominator):
Weighted average number of shares - basic	8,506,781		8,769,389		8,532,788		8,591,128
Effect of share-based awards	—		—		—		—
Effect of noncontrolling interest, net of tax	—		—		—		6,866,154
Weighted average number of shares - diluted	8,506,781		8,769,389		8,532,788		15,457,282

Basic income (loss) per share	$	(0.38)	$	(0.06)	$	(0.77)	$	0.29
Diluted income (loss) per share	$	(0.38)	$	(0.06)	$	(0.77)	$	0.25

During the three and nine months ended September 30, 2020, the Company excluded approximately 1.3 million of equity-based awards and 6.9 million shares of Common Stock issuable upon conversion of the Company’s Class B Common Stock in calculating diluted loss per share. During the three months ended September 30, 2019, the Company excluded 0.9 million of equity-based awards and 6.9 million shares of Common Stock issuable upon conversion of the Company’s Class B Common Stock in calculating diluted loss per share. During the nine months ended September 30, 2019, the Company excluded 0.9 million of equity-based awards. These items were excluded from the calculation of earnings (loss) per share, for the respective periods, as the effect was anti-dilutive.