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NONCONTROLLING INTERESTS

12 Months Ended

Dec. 31, 2024

NONCONTROLLING INTERESTS

NONCONTROLLING INTERESTS

NOTE 16—NONCONTROLLING INTERESTS

The Company’s noncontrolling interests fall into two categories as follows:

● Noncontrolling interests attributable to joint ventures formed for water-related services.

● Noncontrolling interests attributable to holders of Class B common stock.

​

​	​	​	​	​	​	​
​	​	As of December 31,
​		2024			2023
​	​	(in thousands)
Noncontrolling interests attributable to joint ventures formed for water-related services	​	$	(1,570)		$	614
Noncontrolling interests attributable to holders of Class B common stock	​	​	123,584			119,070
Total noncontrolling interests	​	$	122,014		$	119,684

​

During the year ended December 31, 2023, the Company received $6.0 million in cash contributions from a noncontrolling interest for business development. Additionally, the Company divested a formerly consolidated joint venture resulting in a $1.6 million reduction to noncontrolling interest.

During the year ended December 31, 2022, the Company acquired $30.0 million of noncontrolling interest in connection with the Breakwater Acquisition on November 1, 2022, and purchased these noncontrolling interests on December 2, 2022, for $29.3 million. See Note 3—Acquisitions for more detail. Further, the Company contributed to a newly formed water-related services joint venture that added $4.8 million of noncontrolling interest during the year ended December 31, 2022.

For all periods presented, there were changes in Select Inc.’s ownership interest in SES Holdings. The effects of the changes in Select Inc.’s ownership interest in SES Holdings are as follows:

​

​	​	​	​	​	​	​	​	​	​
​	​	For the year ended December 31,
​		2024			2023			2022
​	​	(in thousands)
Net income attributable to Select Water Solutions, Inc.	​	$	30,644		$	74,403		$	48,278
Transfers from noncontrolling interests:	​	​	​			​			​
Increase in additional paid-in capital due to purchase of noncontrolling interest	​	​	—	​	​	—	​	​	1,077
Increase (decrease) in additional paid-in capital as a result of issuing shares for business combinations	​	​	—	​	​	9	​	​	(5,269)
Decrease in additional paid-in capital as a result of stock option exercises	​		—			—			(24)
Increase in additional paid-in capital as a result of restricted stock issuance, net of forfeitures	​		1,441			1,306			2,406
Increase in additional paid-in capital as a result of vested PSUs	​	​	311	​	​	—	​	​	—
Increase in additional paid-in capital as a result of the repurchase of SES Holdings LLC Units	​		262			63			445
Decrease in additional paid-in capital as a result of the Employee Stock Purchase Plan shares issued	​	​	—	​	​	—	​	​	(1)
Change to equity from net income attributable to Select Water Solutions, Inc. and transfers from noncontrolling interests	​	$	32,658		$	75,781		$	46,912

​

X

- Definition

The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 810
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/810/tableOfContent

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- References

No definition available.

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