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INCOME PER SHARE

12 Months Ended

Dec. 31, 2024

INCOME PER SHARE

INCOME PER SHARE

NOTE 17— INCOME PER SHARE

Income per share is based on the amount of income allocated to the stockholders and the weighted-average number of shares outstanding during the period for each class of common stock. Outstanding options to purchase

913,042, 1,654,952 and 1,666,872 shares of Class A common stock are not included in the calculation of diluted weighted-average shares outstanding for the year ended December 31, 2024, 2023 and 2022 respectively, as their effect is antidilutive. Shares of the Company’s Class B common stock do not share in net income or losses attributable to the Company and are therefore not participating securities. As such, separate presentation of basic and diluted earnings per share of Class B common stock under the two-class method has not been presented. Diluted earnings per share was computed using the treasury stock method.

The following tables present the Company’s calculation of basic and diluted earnings per share for the years ended December 31, 2024, 2023 and 2022 (dollars in thousands, except share and per share amounts):

​	​	​	​	​	​	​	​	​	​
​	​	Year ended December 31, 2024
​	​	​		​	​	​	​	​	​
​		Select Water Solutions, Inc.			Class A			Class B
Numerator:	​	​	​	​	​	​	​	​	​
Net income	​	$	35,450	​	​	​	​	​	​
Net income attributable to noncontrolling interests	​	​	(4,806)	​	​	​	​	​	​
Net income attributable to Select Water Solutions, Inc. — basic	​	$	30,644	​	$	30,644	​	$	—
Add: Reallocation of net income attributable to noncontrolling interests for the dilutive effect of restricted stock	​	​	62	​	​	62	​	​	—
Add: Reallocation of net income attributable to noncontrolling interests for the dilutive effect of performance units	​	​	67	​	​	67	​	​	—
Add: Reallocation of net income attributable to noncontrolling interests for the dilutive effect of stock options	​	​	6	​	​	6	​	​	—
Net income attributable to Select Water Solutions, Inc. — diluted	​	$	30,779	​	$	30,779	​	$	—
Denominator:	​	​	​	​	​	​	​	​	​
Weighted-average shares of common stock outstanding — basic	​	​	​	​	​	99,986,771	​	​	16,221,101
Dilutive effect of restricted stock	​	​	​	​	​	1,020,415	​	​	—
Dilutive effect of performance share units	​	​	​	​	​	1,093,901	​	​	—
Dilutive effect of stock options	​	​	​	​	​	93,236	​	​	—
Weighted-average shares of common stock outstanding — diluted	​	​	​	​	​	102,194,323	​	​	16,221,101
Income per share:	​	​	​	​	​	​	​	​	​
Basic	​	​	​	​	$	0.31	​	$	—
Diluted	​	​	​	​	$	0.30	​	$	—

​

​	​	​	​	​	​	​	​	​	​
​	​	Year ended December 31, 2023
​	​	Select Water Solutions, Inc.		​	Class A		​	Class B
Numerator:	​	​	​	​	​	​	​	​	​
Net income	​	$	79,219	​	​	​	​	​	​
Net income attributable to noncontrolling interests	​	​	(4,816)	​	​	​	​	​	​
Net income attributable to Select Water Solutions, Inc. — basic	​	$	74,403	​	$	74,403	​	$	—
Add: Reallocation of net income attributable to noncontrolling interests for the dilutive effect of restricted stock	​	​	94	​	​	94	​	​	—
Add: Reallocation of net income attributable to noncontrolling interests for the dilutive effect of performance units	​	​	43	​	​	43	​	​	—
Net income attributable to Select Water Solutions, Inc. — diluted	​	$	74,540	​	$	74,540	​	$	—
Denominator:	​	​	​	​	​	​	​	​	​
Weighted-average shares of common stock outstanding — basic	​	​	​	​	​	101,393,822	​	​	16,221,101
Dilutive effect of restricted stock	​	​	​	​	​	1,355,499	​	​	—
Dilutive effect of performance share units	​	​	​	​	​	615,865	​	​	—
Weighted-average shares of common stock outstanding — diluted	​	​	​	​	​	103,365,186	​	​	16,221,101
Income per share:	​	​	​	​	​	​	​	​	​
Basic	​	​	​	​	$	0.73	​	$	—
Diluted	​	​	​	​	$	0.72	​	$	—

​

​	​	​	​	​	​	​	​	​	​
​	​	Year ended December 31, 2022
​	​	Select Water Solutions, Inc.		​	Class A		​	Class B
Numerator:	​	​	​	​	​	​	​	​	​
Net income	​	$	54,854	​	​	​	​	​	​
Net income attributable to noncontrolling interests	​	​	(6,576)	​	​	​	​	​	​
Net income attributable to Select Water Solutions, Inc. — basic	​	$	48,278	​	$	48,278	​	$	—
Add: Reallocation of net income attributable to noncontrolling interests for the dilutive effect of restricted stock	​	​	31	​	​	31	​	​	—
Add: Reallocation of net income attributable to noncontrolling interests for the dilutive effect of performance share units	​	​	26	​	​	26	​	​	—
Net income attributable to Select Water Solutions, Inc. — diluted	​	$	48,335	​	$	48,335	​	$	—
Denominator:	​	​	​	​	​	​	​	​	​
Weighted-average shares of common stock outstanding — basic	​	​	​	​	​	95,214,033	​	​	16,221,101
Dilutive effect of restricted stock	​	​	​	​	​	416,671	​	​	—
Dilutive effect of performance share units	​	​	​	​	​	357,626	​	​	—
Dilutive effect of ESPP	​	​	​	​	​	349	​	​	—
Weighted-average shares of common stock outstanding — diluted	​	​	​	​	​	95,988,679	​	​	16,221,101
Income per share:	​	​	​	​	​	​	​	​	​
Basic	​	​	​	​	$	0.51	​	$	—
Diluted	​	​	​	​	$	0.50	​	$	—

​

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The entire disclosure for earnings per share.

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