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EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2019

NOTE 16—EARNINGS PER SHARE

Earnings per share are based on the amount of income allocated to the shareholders and the weighted-average number of shares outstanding during the period for each class of common stock. Outstanding options to purchase 2,972,967, 1,834,105, 2,976,537 and 1,848,482 shares are not included in the calculation of diluted weighted-average shares outstanding for the Current Quarter, Prior Quarter, Current Period and Prior Period, respectively, as the effect is antidilutive.

The following tables present the Company’s calculation of basic and diluted earnings per share for the Current and Prior Quarter and the Current and Prior Period (dollars in thousands, except share and per share amounts):


	Three months ended June 30, 2019								Three months ended June 30, 2018
	Select Energy Services, Inc.		Class A		Class A-2		Class B		Select Energy Services, Inc.		Class A		Class A-2		Class B
Numerator:
Net income	$	8,068							$	25,023
Net income attributable to noncontrolling interests		(1,868)								(8,060)
Net income attributable to Select Energy Services, Inc. — basic		6,200	$	6,200	$	—	$	—		16,963	$	16,963	$	—	$	—
Add: Reallocation of net income attributable to noncontrolling interests for the dilutive effect of restricted stock		9		9		—		—		6		6		—		—
Add: Reallocation of net income attributable to noncontrolling interests for the dilutive effect of stock options		3		3		—		—		22		22		—		—
Net income attributable to Select Energy Services, Inc. — diluted	$	6,212	$	6,212	$	—	$	—	$	16,991	$	16,991	$	—	$	—
Denominator:
Weighted-average shares of common stock outstanding — basic				78,544,502		—		26,026,843				71,412,158		—		34,677,182
Dilutive effect of restricted stock				471,542		—		—				71,969		—		—
Dilutive effect of stock options				150,889		—		—				261,582		—		—
Dilutive effect of ESPP				102		—		—				99		—		—
Weighted-average shares of common stock outstanding — diluted				79,167,035		—		26,026,843				71,745,808		—		34,677,182
Earnings per share:
Basic			$	0.08	$	—	$	—			$	0.24	$	—	$	—
Diluted			$	0.08	$	—	$	—			$	0.24	$	—	$	—


	Six months ended June 30, 2019								Six months ended June 30, 2018
	Select Energy Services, Inc.		Class A		Class A-2		Class B		Select Energy Services, Inc.		Class A		Class A-2		Class B
Numerator:
Net income	$	9,468							$	41,155
Net income attributable to noncontrolling interests		(2,133)								(14,093)
Net income attributable to Select Energy Services, Inc. — basic		7,335	$	7,335	$	—	$	—		27,062	$	25,784	$	1,278	$	—
Add: Reallocation of net income attributable to noncontrolling interests for the dilutive effect of restricted stock		8		8		—		—		17		18		(1)		—
Add: Reallocation of net income attributable to noncontrolling interests for the dilutive effect of stock options		2		2		—		—		49		53		(4)		—
Net income attributable to Select Energy Services, Inc. — diluted	$	7,345	$	7,345	$	—	$	—	$	27,128	$	25,855	$	1,273	$	—
Denominator:
Weighted-average shares of common stock outstanding — basic				78,533,761		—		26,026,843				65,270,048		3,235,746		37,488,964
Dilutive effect of restricted stock				351,780		—		—				118,719		—		—
Dilutive effect of stock options				78,353		—		—				343,127		—		—
Dilutive effect of ESPP				195		—		—				83		—		—
Weighted-average shares of common stock outstanding — diluted				78,964,089		—		26,026,843				65,731,977		3,235,746		37,488,964
Earnings per share:
Basic			$	0.09	$	—	$	—			$	0.40	$	0.40	$	—
Diluted			$	0.09	$	—	$	—			$	0.39	$	0.39	$	—