v3.25.1
NONCONTROLLING INTERESTS
3 Months Ended
Mar. 31, 2025
NONCONTROLLING INTERESTS  
NONCONTROLLING INTERESTS

NOTE 14—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

As of

    

March 31, 2025

    

December 31, 2024

(in thousands)

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

$

898

  

$

(1,570)

Noncontrolling interests attributable to holders of Class B common stock

122,973

  

 

123,584

Total noncontrolling interests

$

123,871

  

$

122,014

During the Current Quarter, the Company received a $2.9 million cash contribution from a noncontrolling interest for business development. 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:

Three months ended March 31, 

    

2025

    

2024

(in thousands)

Net income attributable to Select Water Solutions, Inc.

$

8,239

  

$

3,625

Transfers from noncontrolling interests:

  

 

  

Increase in additional paid-in capital as a result of restricted stock issuance, net of forfeitures

 

768

  

 

1,085

Increase in additional paid-in capital as a result of vested PSUs

406

311

Increase in additional paid-in capital as a result of the repurchase of SES Holdings LLC Units

 

502

  

 

103

Change to equity from net income attributable to Select Water Solutions, Inc. and transfers from noncontrolling interests

$

9,915

  

$

5,124