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(LOSS) EARNINGS PER SHARE | 12 Months Ended
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Dec. 31, 2020
(LOSS) EARNINGS PER SHARE |
(LOSS) EARNINGS PER SHARE | NOTE 17— (LOSS) EARNINGS PER SHARE (Loss) earnings per share are based on the amount of (loss) 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 3,519,159 and 2,961,439 shares are not included in the calculation of diluted weighted-average shares outstanding for the year ended December 31, 2020 and 2019 respectively, as the effect is antidilutive. The following tables present the Company’s calculation of basic and diluted earnings per share for the years ended December 31, 2020, 2019 and 2018 (dollars in thousands, except share and per share amounts):
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​ | ​ | Year ended December 31, 2020
​ | ​ | Select Energy | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Services, Inc. |  | Class A |  | Class B
Numerator: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net loss | ​ | $ | (401,732) | ​ | ​ | ​ | ​ | ​ | ​
Net loss attributable to noncontrolling interests | ​ | ​ | 63,048 | ​ | ​ | ​ | ​ | ​ | ​
Net loss income attributable to Select Energy Services, Inc. — basic | ​ | $ | (338,684) | ​ | $ | (338,684) | ​ | $ | —
Net loss income attributable to Select Energy Services, Inc. — diluted | ​ | $ | (338,684) | ​ | $ | (338,684) | ​ | $ | —
Denominator: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted-average shares of common stock outstanding — basic | ​ | ​ | ​ | ​ | ​ | 85,158,764 | ​ | ​ | 16,221,101
Weighted-average shares of common stock outstanding — diluted | ​ | ​ | ​ | ​ | ​ | 85,158,764 | ​ | ​ | 16,221,101
Loss per share: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic | ​ | ​ | ​ | ​ | $ | (3.98) | ​ | $ | —
Diluted | ​ | ​ | ​ | ​ | $ | (3.98) | ​ | $ | —
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​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended December 31, 2019
​ | ​ | Select Energy Services, Inc. | ​ | Class A | ​ | Class B
Numerator: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income | ​ | $ | 4,136 | ​ | ​ | ​ | ​ | ​ | ​
Net income attributable to noncontrolling interests | ​ | ​ | (1,352) | ​ | ​ | ​ | ​ | ​ | ​
Net income attributable to Select Energy Services, Inc. — basic | ​ | $ | 2,784 | ​ | $ | 2,784 | ​ | $ | —
Add: Reallocation of net income attributable to noncontrolling interests for the dilutive effect of restricted stock | ​ | ​ | 7 | ​ | ​ | 7 | ​ | ​ | —
Add: Reallocation of net income attributable to noncontrolling interests for the dilutive effect of performance share units | ​ | ​ | 2 | ​ | ​ | 2 | ​ | ​ | ​
Add: Reallocation of net income attributable to noncontrolling interests for the dilutive effect of stock options | ​ | ​ | 1 | ​ | ​ | 1 | ​ | ​ | —
Net loss attributable to Select Energy Services, Inc. — diluted | ​ | $ | 2,794 | ​ | $ | 2,794 | ​ | $ | —
Denominator: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted-average shares of common stock outstanding — basic | ​ | ​ | ​ | ​ | ​ | 80,176,323 | ​ | ​ | 23,806,646
Dilutive effect of restricted stock | ​ | ​ | ​ | ​ | ​ | 373,366 | ​ | ​ | —
Dilutive effect of performance share units | ​ | ​ | ​ | ​ | ​ | 80,979 | ​ | ​ | ​
Dilutive effect of stock options | ​ | ​ | ​ | ​ | ​ | 40,215 | ​ | ​ | —
Dilutive effect of ESPP | ​ | ​ | ​ | ​ | ​ | 446 | ​ | ​ | —
Weighted-average shares of common stock outstanding — diluted | ​ | ​ | ​ | ​ | ​ | 80,671,329 | ​ | ​ | 23,806,646
Earnings per share: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic | ​ | ​ | ​ | ​ | $ | 0.03 | ​ | $ | —
Diluted | ​ | ​ | ​ | ​ | $ | 0.03 | ​ | $ | —
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​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended December 31, 2018
​ | ​ | Select Energy Services, Inc. | ​ | Class A | ​ | Class A-2 | ​ | Class B
Numerator: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net loss | ​ | $ | 54,299 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net loss attributable to noncontrolling interests | ​ | ​ | (17,787) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net loss attributable to Select Energy Services, Inc. — basic | ​ | $ | 36,512 | ​ | $ | 35,720 | ​ | $ | 792 | ​ | $ | —
Add: Reallocation of net income attributable to noncontrolling interests for the dilutive effect of restricted stock | ​ | ​ | 13 | ​ | ​ | 13 | ​ | ​ | — | ​ | ​ | —
Add: Reallocation of net income attributable to noncontrolling interests for the dilutive effect of stock options | ​ | ​ | 30 | ​ | ​ | 30 | ​ | ​ | — | ​ | ​ | —
Net loss attributable to Select Energy Services, Inc. — diluted | ​ | $ | 36,555 | ​ | $ | 35,763 | ​ | $ | 792 | ​ | $ | —
Denominator: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted-average shares of common stock outstanding — basic | ​ | ​ | ​ | ​ | ​ | 72,403,318 | ​ | ​ | 1,604,575 | ​ | ​ | 31,986,438
Dilutive effect of restricted stock | ​ | ​ | ​ | ​ | ​ | 71,718 | ​ | ​ | — | ​ | ​ | —
Dilutive effect of stock options | ​ | ​ | ​ | ​ | ​ | 166,999 | ​ | ​ | — | ​ | ​ | —
Dilutive effect of ESPP | ​ | ​ | ​ | ​ | ​ | 112 | ​ | ​ | — | ​ | ​ | —
Weighted-average shares of common stock outstanding — diluted | ​ | ​ | ​ | ​ | ​ | 72,642,147 | ​ | ​ | 1,604,575 | ​ | ​ | 31,986,438
Loss per share: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic | ​ | ​ | ​ | ​ | $ | 0.49 | ​ | $ | 0.49 | ​ | $ | —
Diluted | ​ | ​ | ​ | ​ | $ | 0.49 | ​ | $ | 0.49 | ​ | $ | —
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