v3.25.2
NONCONTROLLING INTERESTS
6 Months Ended
Jun. 30, 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

    

June 30, 2025

    

December 31, 2024

(in thousands)

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

$

(410)

  

$

(1,570)

Noncontrolling interests attributable to holders of Class B common stock

124,249

  

 

123,584

Total noncontrolling interests

$

123,839

  

$

122,014

During the Current Period, 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:

Six months ended June 30, 

    

2025

    

2024

(in thousands)

Net income attributable to Select Water Solutions, Inc.

$

18,886

  

$

16,493

Transfers from noncontrolling interests:

  

 

  

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

 

1,115

  

 

1,186

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

 

507

  

 

121

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

$

20,914

  

$

18,111