NOTE F – EQUITY

Changes in equity for the three and six month periods ended June 30, 2016 and 2015 are as follows:



	Three Months Ended June 30,
	2016									2015
	TETRA			Non- controlling Interest			Total			TETRA			Non- controlling Interest			Total
	(In Thousands)
Beginning balance for the period	$	155,621		$	206,476		$	362,097		$	357,723		$	386,872		$	744,595
Net income (loss)	(26,574		)	(2,650		)	(29,224		)	14,925			442			15,367
Foreign currency translation adjustment	(3,305		)	(62		)	(3,367		)	2,541			(183		)	2,358
Comprehensive Income (loss)	(29,879		)	(2,712		)	(32,591		)	17,466			259			17,725
Exercise of common stock options	2			—			2			(183		)	—			(183		)
Proceeds from the issuance of stock	60,277			—			60,277			—			—			—
Distributions to public unitholders	—			(7,209		)	(7,209		)	—			(9,450		)	(9,450		)
Equity-based compensation	5,801			844			6,645			1,874			727			2,601
Treasury stock and other	(1,373		)	(64		)	(1,437		)	(244		)	—			(244		)
Ending balance as of June 30	$	190,449		$	197,335		$	387,784		$	376,636		$	378,408		$	755,044



	Six Months Ended June 30,
	2016									2015
	TETRA			Non- controlling Interest			Total			TETRA			Non- controlling Interest			Total
	(In Thousands)
Beginning balance for the period	$	241,217		$	272,963		$	514,180		$	369,713		$	395,888		$	765,601
Net income (loss)	(114,899		)	(62,056		)	(176,955		)	10,477			1,266			11,743
Foreign currency translation adjustment	(2,333		)	(516		)	(2,849		)	(6,202		)	(1,227		)	(7,429		)
Comprehensive Income (loss)	(117,232		)	(62,572		)	(179,804		)	4,275			39			4,314
Exercise of common stock options	27						27			101			—			101
Proceeds from the issuance of stock	60,277						60,277			—			—			—
Distributions to public unitholders	—			(14,418		)	(14,418		)	—			(18,723		)	(18,723		)
Equity-based compensation	7,539			1,462			9,001			2,993			1,204			4,197
Treasury stock and other	(1,379		)	(100		)	(1,479		)	(244		)	—			(244		)
Tax adjustment upon cancellation of stock options	—			—			—			(202		)	—			(202		)
Ending balance as of June 30	$	190,449		$	197,335		$	387,784		$	376,636		$	378,408		$	755,044

Activity within the foreign currency translation adjustment account during the periods includes no reclassifications to net income.

Issuance of Common Stock. On June 21, 2016, we completed an underwritten public offering of 11.5 million shares of our common stock, which included 1.5 million shares of common stock pursuant to an option granted to the underwriters to purchase additional shares, at a price to the public of $5.50 per share ($5.2525 per share net of underwriting discounts). We utilized the net offering proceeds of $60.4 million to repay the remaining balance outstanding of our Senior Secured Notes, to reduce the balance outstanding under our Credit Agreement, to pay offering related discounts and expenses, and for general corporate purposes. The offering was made pursuant to a shelf registration statement filed with the Securities and Exchange Commission on March 23, 2016.

Issuance of CCLP Preferred Units. In August 2016, CCLP received $49.8 million of net proceeds, after deducting certain offering expenses, from the Private Placement of the CCLP Preferred Units. (For further discussion of the issuance of CCLP Preferred Units, see Note C - CCLP Series A Convertible Preferred Units.)