Select Energy Services (WTTR) 10-Q 1 Nov 23 2023 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2023	Oct. 30, 2023
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	001-38066
Entity Registrant Name	SELECT WATER SOLUTIONS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	81-4561945
Entity Address, Address Line One	1233 W. Loop South, Suite 1400
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77027
City Area Code	713
Local Phone Number	235-9500
Title of 12(b) Security	Class A common stock, par value $0.01 per share
Trading Symbol	WTTR
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001693256
Amendment Flag	false
Class A common stock
Document and Entity Information
Entity Common Stock, Shares Outstanding		103,916,906
Class B common stock
Document and Entity Information
Entity Common Stock, Shares Outstanding		16,221,101

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 25,043	$ 7,322
Inventories	44,880	41,164
Prepaid expenses and other current assets	44,490	34,380
Total current assets	470,232	517,936
Property and equipment	1,151,654	1,084,005
Accumulated depreciation	(628,293)	(584,451)
Total property and equipment, net	523,361	499,554
Right-of-use assets, net	39,950	47,662
Goodwill	4,683
Other intangible assets, net	120,851	138,800
Other long-term assets, net	23,411	18,901
Total assets	1,182,488	1,222,853
Current liabilities
Accounts payable	54,500	61,539
Accrued accounts payable	74,302	67,462
Accrued salaries and benefits	20,573	28,686
Accrued insurance	20,244	26,180
Sales tax payable	3,074	3,056
Accrued expenses and other current liabilities	29,061	23,292
Current operating lease liabilities	15,274	17,751
Current portion of finance lease obligations	87	19
Total current liabilities	220,669	231,290
Long-term operating lease liabilities	38,837	46,388
Long-term debt		16,000
Other long-term liabilities	43,983	45,447
Total liabilities	303,489	339,125
Commitments and contingencies (Note 9)
Preferred stock, $0.01 par value; 50,000,000 shares authorized; no shares issued and outstanding as of September 30, 2023 and December 31, 2022
Additional paid-in capital	1,022,406	1,075,915
Accumulated deficit	(264,386)	(311,194)
Total stockholders' equity	759,221	765,977
Noncontrolling interests	119,778	117,751
Total equity	878,999	883,728
Total liabilities and equity	1,182,488	1,222,853
Nonrelated Party [Member]
Current assets
Accounts receivable	355,532	429,983
Related Party [Member]
Current assets
Accounts receivable	287	5,087
Current liabilities
Accounts payable and accrued expenses, related parties	3,554	3,305
Class A common stock
Current liabilities
Common stock	1,039	1,094
Class A-2 Common Stock
Current liabilities
Common stock
Class B common stock
Current liabilities
Common stock	$ 162	$ 162

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Allowance for doubtful accounts	$ 5,762	$ 4,918
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	50,000,000	50,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Class A common stock
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	350,000,000	350,000,000
Common Stock, Shares, Issued	103,917,951	109,389,528
Common Stock, Shares, Outstanding	103,917,951	109,389,528
Class A-2 Common Stock
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	40,000,000	40,000,000
Common Stock, Shares, Issued	0	0
Common Stock, Shares, Outstanding	0	0
Class B common stock
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	150,000,000	150,000,000
Common Stock, Shares, Issued	16,221,101	16,221,101
Common Stock, Shares, Outstanding	16,221,101	16,221,101

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenue
Total revenue	$ 389,273	$ 375,072	$ 1,210,493	$ 1,005,744
Costs of revenue
Depreciation and amortization	34,650	26,672	102,776	82,425
Total costs of revenue	333,008	316,232	1,033,389	886,560
Gross profit	56,265	58,840	177,104	119,184
Operating expenses
Selling, general and administrative	38,983	29,782	109,147	84,792
Depreciation and amortization	512	543	1,846	1,636
Impairments and abandonments	32		11,554
Lease abandonment costs	(12)	83	73	336
Total operating expenses	39,515	30,408	122,620	86,764
Income from operations	16,750	28,432	54,484	32,420
Other income (expense)
Gain (loss) on sales of property and equipment and divestitures, net	23	(479)	1,688	1,905
Interest expense, net	(765)	(616)	(4,290)	(1,830)
Foreign currency loss, net	(1)	(6)	(4)	(9)
Bargain purchase gain		(3,273)		13,768
Other	768	1,153	2,486	2,277
Income before income tax expense	16,775	25,211	54,364	48,531
Income tax expense	(483)	(276)	(1,068)	(672)
Equity in losses of unconsolidated entities	(978)	(218)	(1,716)	(576)
Net income	15,314	24,717	51,580	47,283
Less: net income attributable to noncontrolling interests	(968)	(3,393)	(4,772)	(6,654)
Net income attributable to Select Water Solutions, Inc.	14,346	21,324	46,808	40,629
Water Services
Revenue
Total revenue	251,870	264,271	791,145	693,393
Costs of revenue
Costs of revenue	200,361	204,650	626,878	558,041
Water Infrastructure
Revenue
Total revenue	58,375	31,368	169,118	80,686
Costs of revenue
Costs of revenue	34,992	20,392	103,718	51,424
Chemical Technologies
Revenue
Total revenue	79,028	79,433	250,230	231,665
Costs of revenue
Costs of revenue	63,005	64,519	200,017	194,670
Other
Costs of revenue
Other		(1)
Class A common stock
Other income (expense)
Net income attributable to Select Water Solutions, Inc.	$ 14,346	$ 21,324	$ 46,808	$ 40,629
Net income per share attributable to common stockholders (Note 15):
Basic	$ 0.14	$ 0.23	$ 0.46	$ 0.44
Diluted	$ 0.14	$ 0.22	$ 0.45	$ 0.43

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 15,314	$ 24,717	$ 51,580	$ 47,283
Other comprehensive income
Comprehensive income	15,314	24,717	51,580	47,283
Less: comprehensive income attributable to noncontrolling interests	(968)	(3,393)	(4,772)	(6,654)
Comprehensive income attributable to Select Water Solutions, Inc.	$ 14,346	$ 21,324	$ 46,808	$ 40,629

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Class A common stock Total Stockholders' Equity	Class A common stock Common Stock	Class A common stock Additional Paid-In Capital	Class A common stock	Unvested restricted stock Total Stockholders' Equity	Unvested restricted stock Additional Paid-In Capital	Unvested restricted stock	Class B common stock Common Stock	Class B common stock Noncontrolling Interests.	Class B common stock	Total Stockholders' Equity	Additional Paid-In Capital	Accumulated Deficit.	Noncontrolling Interests.	Total
Beginning balance at Dec. 31, 2021		$ 942						$ 162			$ 592,096	$ 950,464	$ (359,472)	$ 103,078	$ 695,174
Beginning balance (in shares) at Dec. 31, 2021		94,172,920						16,221,101
Increase (Decrease) in Stockholders' Equity [Roll Forward]
ESPP shares issued											34	34		1	35
ESPP shares issued (in shares)		4,681
Equity-based compensation											9,454	9,454		1,569	11,023
Issuance of restricted shares		$ 25									2,245	2,220		(2,245)
Issuance of restricted shares (in shares)		2,529,231
Stock options exercised		$ 1									584	583		24	608
Stock options exercised (in shares)		70,000
Issuance of shares for acquisitions		$ (42)									(34,498)	(34,456)		(1,356)	(35,854)
Issuance of shares for acquisition (in shares)		(4,203,323)
Repurchase of common stock		$ (28)									(20,137)	(20,109)		(438)	(20,575)
Repurchase of common stock ( in shares)		(2,794,983)
Restricted shares forfeited		$ (1)									(79)	(78)		79
Restricted shares forfeited (in shares)		(87,242)
NCI income tax adjustment											39	39		(39)
Net income											40,629		40,629	6,654	47,283
Ending balance at Sep. 30, 2022		$ 981						$ 162			659,363	977,063	(318,843)	110,039	769,402
Ending balance (in shares) at Sep. 30, 2022		98,097,930						16,221,101
Beginning balance at Jun. 30, 2022		$ 982						$ 162			635,043	974,066	(340,167)	106,102	741,145
Beginning balance (in shares) at Jun. 30, 2022		98,160,573						16,221,101
Increase (Decrease) in Stockholders' Equity [Roll Forward]
ESPP shares issued											10	10			10
ESPP shares issued (in shares)		1,541
Equity-based compensation											3,265	3,265		539	3,804
Repurchase of common stock		$ (1)									(269)	(268)		(2)	(271)
Repurchase of common stock ( in shares)		(40,060)
Restricted shares forfeited											(22)	(22)		22
Restricted shares forfeited (in shares)		(24,124)
NCI income tax adjustment											12	12		(15)	(3)
Net income											21,324		21,324	3,393	24,717
Ending balance at Sep. 30, 2022		$ 981						$ 162			659,363	977,063	(318,843)	110,039	769,402
Ending balance (in shares) at Sep. 30, 2022		98,097,930						16,221,101
Beginning balance at Dec. 31, 2022		$ 1,094						$ 162			765,977	1,075,915	(311,194)	117,751	883,728
Beginning balance (in shares) at Dec. 31, 2022		109,389,528						16,221,101
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-based compensation											11,080	11,080		1,707	12,787
Issuance of restricted shares		$ 16									1,465	1,449		(1,465)
Issuance of restricted shares (in shares)		1,633,849
Issuance of shares for acquisitions											(401)	(401)		(9)	(410)
Issuance of shares for acquisition (in shares)		48,688
Repurchase of common stock		$ (70)									(49,817)	(49,747)		(88)	(49,905)
Repurchase of common stock ( in shares)		(6,984,375)
Restricted shares forfeited		$ (1)									(47)	(46)		47
Restricted shares forfeited (in shares)		(72,363)
Distributions to noncontrolling interests														(1,581)	(1,581)
Contributions from noncontrolling interests														1,153	1,153
NCI income tax adjustment											76	76		(76)
Dividend and distribution declared	$ (15,287)		$ (15,287)	$ (15,287)	$ (633)	$ (633)	$ (633)		$ (2,433)	$ (2,433)
Net income											46,808		46,808	4,772	51,580
Ending balance at Sep. 30, 2023		$ 1,039						$ 162			759,221	1,022,406	(264,386)	119,778	878,999
Ending balance (in shares) at Sep. 30, 2023		103,917,951						16,221,101
Beginning balance at Jun. 30, 2023		$ 1,038						$ 162			745,838	1,023,370	(278,732)	118,115	863,953
Beginning balance (in shares) at Jun. 30, 2023		103,799,815						16,221,101
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-based compensation											4,336	4,336		678	5,014
Issuance of restricted shares		$ 1									120	119		(120)
Issuance of restricted shares (in shares)		172,905
Repurchase of common stock		$ 1									(241)	(242)		(34)	(275)
Repurchase of common stock ( in shares)		(33,525)
Restricted shares forfeited		$ (1)										1		(1)	(1)
Restricted shares forfeited (in shares)		(21,244)
Contributions from noncontrolling interests														1,000	1,000
NCI income tax adjustment											17	17		(17)
Dividend and distribution declared	$ (4,987)		$ (4,987)	$ (4,987)	$ (208)	$ (208)	$ (208)		$ (811)	$ (811)
Net income											14,346		14,346	968	15,314
Ending balance at Sep. 30, 2023		$ 1,039						$ 162			$ 759,221	$ 1,022,406	$ (264,386)	$ 119,778	$ 878,999
Ending balance (in shares) at Sep. 30, 2023		103,917,951						16,221,101

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical)	Sep. 30, 2023 $ / shares
Class A common stock
Dividends, per share	$ 0.05
Unvested restricted stock
Dividends, per share	0.05
Class B common stock
Dividends, per share	$ 0.05

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Cash flows from operating activities
Net income	$ 15,314	$ 24,717	$ 51,580	$ 47,283
Adjustments to reconcile net income to net cash used in operating activities
Depreciation and amortization	35,162	27,215	104,622	84,061
Gain on disposal of property and equipment and divestitures			(1,688)	(1,905)
Equity in losses of unconsolidated entities	978	218	1,716	576
Bad debt expense			3,987	2,091
Amortization of debt issuance costs	100	100	366	539
Inventory adjustments	100	(800)	557	(612)
Equity-based compensation			12,787	11,023
Impairments and abandonments	32		11,554
Bargain purchase gain		3,273		(13,768)
Other operating items, net			(956)	(710)
Changes in operating assets and liabilities
Accounts receivable			70,467	(141,468)
Prepaid expenses and other assets			(18,797)	(200)
Accounts payable and accrued liabilities			(34,033)	10,983
Net cash provided by (used in) operating activities			202,162	(2,107)
Cash flows from investing activities
Purchase of property and equipment			(102,401)	(50,815)
Purchase of equity-method investments			(500)	(6,767)
Collection of note receivable				184
Distribution from cost method investment				60
Acquisitions, net of cash and restricted cash received			(13,418)	5,707
Proceeds received from sales of property and equipment			11,380	21,433
Other				705
Net cash used in investing activities			(104,939)	(29,493)
Cash flows from financing activities
Borrowings from revolving line of credit			105,250	82,000
Payments on revolving line of credit			(121,250)	(82,000)
Payments on current and long-term debt				(18,780)
Payments of finance lease obligations			(55)	(108)
Payment of debt issuance costs				(2,144)
Dividends and distributions paid			(17,907)
Proceeds from share issuance				35
Distributions to noncontrolling interests			(1,581)
Contributions from noncontrolling interests			5,950
Repurchase of common stock			(49,905)	(19,967)
Net cash used in financing activities			(79,498)	(40,964)
Effect of exchange rate changes on cash			(4)	(15)
Net increase (decrease) in cash and cash equivalents			17,721	(72,579)
Cash and cash equivalents, beginning of period			7,322	85,801	$ 85,801
Cash and cash equivalents, end of period	$ 25,043	$ 13,222	25,043	13,222	$ 7,322
Supplemental cash flow disclosure:
Cash paid for interest			4,364	1,255
Cash paid (refunds received) for income taxes, net			1,759	(452)
Supplemental disclosure of noncash investing activities:
(Recoupment) issuance of shares for acquisitions			(410)	35,854
Conversion of notes receivable to equity-method investment				4,442
Capital expenditures included in accounts payable and accrued liabilities			$ 38,581	$ 19,896

BUSINESS AND BASIS OF PRESENTAT

BUSINESS AND BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2023
BUSINESS AND BASIS OF PRESENTATION
BUSINESS AND BASIS OF PRESENTATION	NOTE 1—BUSINESS AND BASIS OF PRESENTATION Description of the business : Select Water Solutions, Inc. (“we,” “Select Inc.” or the “Company”), formerly Select Energy Services, Inc., was incorporated as a Delaware corporation on November 21, 2016. On May 8, 2023, Select Energy Services, Inc.’s Fifth Amended and Restated Certificate of Incorporation became effective upon filing with the Secretary of State of the State of Delaware which, among other things, changed the name of the company from Select Energy Services, Inc. to Select Water Solutions, Inc. to reflect its strategic focus as a water-focused company. We retained our stock ticker “WTTR” trading on the New York Stock Exchange. The Company is a holding company whose sole material asset consists of common units (“SES Holdings LLC Units”) in SES Holdings, LLC (“SES Holdings”). ​ We are a leading provider of sustainable water-management and chemical solutions to the energy industry in the United States (“U.S.”). As a leader in the water solutions industry, we place the utmost importance on safe, environmentally responsible management of oilfield water throughout the lifecycle of a well. Additionally, we believe that responsibly managing water resources through our operations to help conserve and protect the environment in the communities in which we operate is paramount to our continued success. Class A and Class B common stock: Exchange rights: Basis of presentation : The accompanying unaudited interim consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the U.S. (“GAAP”) and pursuant to the rules and regulations of the SEC. These unaudited interim consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and, therefore, do not include all disclosures required for financial statements prepared in conformity with GAAP. This Quarterly Report relates to the three and nine months ended September 30, 2023 (the “Current Quarter” and the “Current Period”, respectively) and the three and nine months ended September 30, 2022 (the “Prior Quarter” and the “Prior Period”, respectively). The Company’s Annual Report on Form 10-K for the year ended December 31, 2022 (the “2022 Form 10-K”), filed with the SEC on February 22, 2023, includes certain definitions and a summary of significant accounting policies and should be read in conjunction with this Quarterly Report. All material adjustments (consisting solely of normal recurring adjustments) which, in the opinion of management, are necessary for a fair statement of the results for the interim periods have been reflected. The results for the Current Quarter and Current Period may not be indicative of the results to be expected for the full year. The unaudited interim consolidated financial statements include the accounts of the Company and all of its majority-owned or controlled subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. For investments in subsidiaries that are not wholly owned, but where the Company exercises control, the equity held by the minority owners and their portion of net income or loss are reflected as noncontrolling interests. Investments in entities in which the Company exercises significant influence over operating and financial policies are accounted for using the equity-method, and investments in entities for which the Company does not have significant control or influence are accounted for using the cost method or other appropriate basis as applicable. As of September 30, 2023, the Company had three equity-method investments. The Company’s investments are reviewed for impairment whenever events or circumstances indicate that the carrying value may not be recoverable. When circumstances indicate that the fair value of its investment is less than its carrying value and the reduction in value is other than temporary, the reduction in value is recognized in earnings. Our investments in unconsolidated entities are summarized below and are included in the assets of our Water Services segment: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ​ ​ ​ ​ As of September 30, ​ As of December 31, Type of Investment attained Accounting method Balance Sheet Location ​ 2023 2022 ​ ​ ​ ​ ​ (in thousands) 21% minority interest 2020 Equity-method Other long-term assets, net ​ $ 4,313 ​ $ 4,686 40% minority interest 2021 Equity-method Other long-term assets, net ​ ​ 4,158 ​ ​ 4,985 47% minority interest 2021 Equity-method Other long-term assets, net ​ ​ 3,430 ​ ​ 3,446 ​ Dividends : Segment reporting : The Company has Effective June 1, 2023, our CODM began to strategically view and manage certain water sourcing and transfer operations, previously included in our Water Infrastructure segment, as part of our Water Services segment. These changes were driven by a number of factors, including the preponderance of our water sourcing business that integrates with our water transfer operations, the continued transition of completions water demand from fresh and brackish water to recycled water, as well as the diversifying demand for these water transfer services beyond the immediate vicinity of our pipeline infrastructure. Due to these changes, the Water Services segment management is best suited to manage these operations and due to their expertise, we anticipate more efficient sharing and utilization of resources and to realize potential synergies. Prior periods have been recast to include the water sourcing and transfer operations within the Water Services segment and remove the results of those operations from the Water Infrastructure segment. Concurrently, the Company also decided to rename its Oilfield Chemicals segment as Chemical Technologies. This change was based on a number of factors, including the continued success of our chemicals business in delivering customized, specialty chemicals products developed through our own research and development efforts and the de-emphasis of certain traditional commoditized chemistry products within the oil and gas industry, as well as the continued investments in time and resources we make to manufacture and sell our specialty chemical products into non-oilfield industrial-related applications. We believe these segment changes better align the business with the current and future state of the Company’s operations and capital allocation and strategic objectives. This change was a naming convention only change that did not impact any Current Period or Prior Period numbers. The Water Services segment consists of the Company’s services businesses, including water sourcing, water transfer, flowback and well testing, fluids hauling, water monitoring, water containment and water network automation, primarily serving exploration and production (“E&P”) companies. Additionally, this segment includes the operations of our accommodations and rentals business. The Water Infrastructure segment consists of the Company’s fixed infrastructure assets, including operations associated with our water distribution pipeline infrastructure, our water recycling solutions, and our produced water gathering systems and saltwater disposal wells, as well as solids disposal facilities, primarily serving E&P companies. The Chemical Technologies segment provides technical solutions, products and expertise related to chemical applications in the oil and gas industry. We develop, manufacture, manage logistics and provide a full suite of chemicals used in hydraulic fracturing, stimulation, cementing and well completions for customers ranging from pressure pumpers to major integrated and independent oil and gas producers. This segment also utilizes its chemical experience and lab testing capabilities to customize tailored water treatment solutions designed to optimize the fracturing fluid system in conjunction with the quality of water used in well completions.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2023
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES	NOTE 2—SIGNIFICANT ACCOUNTING POLICIES Significant accounting policies : The Company’s significant accounting policies are disclosed in Note 2 of the consolidated financial statements for the year ended December 31, 2022, included in the 2022 Form 10-K. Use of estimates : The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. On an ongoing basis, the Company evaluates its estimates, including those related to the recoverability of long-lived assets and intangibles, useful lives used in depreciation and amortization, uncollectible accounts receivable, inventory reserve, income taxes, self-insurance liabilities, share-based compensation, contingent liabilities, lease-related reasonably certain option exercise assessments, and the incremental borrowing rate for leases. The Company bases its estimates on historical and other pertinent information that is believed to be reasonable under the circumstances. The accounting estimates used in the preparation of the consolidated financial statements may change as new events occur, as more experience is acquired, as additional information is obtained and as the Company’s operating environment changes. Allowance for credit losses: ​ The change in the allowance for credit losses is as follows: ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, 2023 ​ ​ (in thousands) Balance as of December 31, 2022 ​ $ 4,918 Increase to allowance based on a percentage of revenue ​ 2,420 Adjustment based on aged receivable analysis ​ 1,515 Charge-offs ​ ​ (3,109) Recoveries ​ ​ 18 Balance as of September 30, 2023 ​ $ 5,762 ​ Asset retirement obligations: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, 2023 ​ (in thousands) Balance as of December 31, 2022 $ 43,576 Accretion expense, included in depreciation and amortization expense ​ 764 Acquired AROs ​ 975 Divested ​ ​ (646) Payments ​ ​ (5,364) Balance as of September 30, 2023 $ 39,305 ​ ​ ​ ​ Short-term ARO liability ​ ​ 5,059 Long-term ARO liability ​ ​ 34,246 Balance as of September 30, 2023 ​ $ 39,305 ​ We review the adequacy of our ARO liabilities whenever indicators suggest that the estimated cash flows underlying the liabilities have changed. The Company’s ARO liabilities are included in accrued expenses and other current liabilities and other long-term liabilities in the accompanying consolidated balance sheets. Lessor Income: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ ​ 2023 2022 2023 ​ 2022 ​ ​ ​ (in thousands) Category Classification ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Lessor income Costs of revenue ​ $ 63 ​ $ 74 ​ $ 218 ​ $ 238 Sublease income Lease abandonment costs and Costs of revenue ​ ​ 374 ​ ​ 369 ​ ​ 1,214 ​ ​ 1,076 ​ The Company also generates short-term equipment rental revenue. See “Note 4—Revenue” for a discussion of revenue recognition for the accommodations and rentals business. ​ Defined Contribution Plan: ​ ​ Recent accounting pronouncements ​ ​ ​

ACQUISITIONS

ACQUISITIONS	9 Months Ended
	Sep. 30, 2023
ACQUISITIONS
ACQUISITIONS	NOTE 3—ACQUISITIONS ​ Asset Acquisitions During the Current Period, Select acquired certain assets, revenue-producing contracts and associated liabilities, primarily in the Permian Basin, from multiple entities for $13.4 million inclusive of $0.2 million of acquisition-related costs. The allocation of the purchase price for these assets was a combined $11.6 million in property and equipment, $1.0 million in water inventory, $1.9 million in customer relationships and $1.1 million in asset retirement obligations and other liabilities. Many of the assets acquired are adjacent to the Big Spring Recycling System (“BSRS”), with connectivity into BSRS providing future revenue and cost synergies. ​ ​ Breakwater Acquisition On November 1, 2022, the Company completed the acquisition of Breakwater Energy Services, LLC (“Breakwater”) in a stock-for-stock transaction for total consideration of $105.3 million based on the closing price of the Company’s shares of Class A common stock on October 31, 2022 (the “Breakwater Acquisition”). The consideration transferred consisted of 9,181,144 shares of Class A common stock, $10.5 million of debt that was paid off at closing as part of consideration exchanged, $3.8 million in change-of-control payments and $2.4 million in seller transaction costs. The acquisition strengthened Select’s geographic footprint with a unique set of water logistics and infrastructure assets, particularly in the Permian region. ​ The Breakwater Acquisition was accounted for as a business combination under the acquisition method of accounting. When determining the fair values of assets acquired and liabilities assumed, management made estimates, judgments and assumptions. The Company engaged third-party valuation experts to assist in the purchase price allocation. These estimates, judgments and assumptions and valuation of the property and equipment acquired, intangible assets, current assets, current liabilities and long-term liabilities were finalized as of September 30, 2023. The total consideration paid exceeded the fair value of the net assets acquired by $4.7 million, with the excess recorded as goodwill. The goodwill recognized was driven primarily by the ability to connect Breakwater’s infrastructure with the Company’s infrastructure and expand revenue-producing capabilities and market share. The acquired goodwill is deductible for tax purposes. The assets acquired and liabilities assumed are included in the Company’s Water Services and Water Infrastructure segments. The Company incurred $0.1 million, $0.1 million $1.8 million and $0.1 million of transaction-related costs related to this acquisition in the Current Quarter, Prior Quarter, Current Period and Prior Period, respectively, and such costs are included in selling, general and administrative within the consolidated statements of operations. The following table summarizes the consideration transferred and the estimated fair value of identified assets acquired and liabilities assumed as of the date of acquisition: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Purchase price allocation ​ As Reported as of December 31, 2022 ​ Current Period Adjustment ​ Amount Consideration transferred ​ (in thousands) Class A common stock (9,181,144 shares) (1) ​ $ 88,598 ​ $ (410) ​ $ 88,188 Cash paid ​ ​ 16,701 ​ ​ — ​ ​ 16,701 Total consideration transferred ​ 105,299 ​ ​ (410) ​ ​ 104,889 Less: identifiable assets acquired and liabilities assumed ​ ​ ​ ​ ​ ​ ​ ​ Working capital ​ 22,633 ​ ​ (189) ​ ​ 22,444 Property and equipment ​ 78,912 ​ ​ (9,406) ​ ​ 69,506 Right-of-use assets ​ 180 ​ ​ — ​ ​ 180 Customer relationships ​ ​ 35,558 ​ ​ 4,502 ​ ​ 40,060 Other long-term assets ​ ​ 120 ​ ​ — ​ ​ 120 Long-term debt ​ ​ (1,979) ​ ​ — ​ ​ (1,979) Long-term lease liabilities ​ ​ (125) ​ ​ — ​ ​ (125) Noncontrolling interest (2) ​ ​ (30,000) ​ ​ — ​ ​ (30,000) Total identifiable net assets acquired ​ ​ 105,299 ​ ​ (5,093) ​ ​ 100,206 Goodwill ​ — ​ ​ 4,683 ​ ​ 4,683 Fair value allocated to net assets acquired $ 105,299 ​ $ (410) ​ $ 104,889 (1) During the Current Period, the parties agreed that 46,888 shares of Class A common stock would be returned to Select related to working capital adjustments. These shares were cancelled during the Current Period. (2) The noncontrolling interests acquired on November 1, 2022 were subsequently purchased on December 2, 2022, thereby giving the Company 100% ownership of BSRS. ​ Cypress Acquisition On November 1, 2022, the Company completed the acquisition of certain saltwater disposal assets from Cypress Environmental Solutions, LLC (“Cypress”) for total consideration of $9.2 million based on the closing price of the Company’s shares of Class A common stock on October 31, 2022 (the “Cypress Acquisition”). The consideration transferred consisted of 952,753 shares of Class A common stock. The acquired Cypress operations consist of eight saltwater disposal facilities with daily permitted capacity of 85,000 barrels per day across North Dakota. The acquisition strengthened Select’s geographic footprint with a portfolio of strategic wastewater disposal facilities in the Bakken region, with the majority of Cypress’s volumes being delivered through high-volume contracted gathering pipeline infrastructure. The Cypress Acquisition was accounted for as a business combination under the acquisition method of accounting. When determining the fair values of assets acquired and liabilities assumed, management made estimates, judgments and assumptions. These estimates, judgments and assumptions and valuation of the property and equipment acquired, current assets, current liabilities and long-term liabilities were finalized as of March 31, 2023. The assets acquired and liabilities assumed are included in the Company’s Water Infrastructure segment. The Company incurred zero and less than $0.1 million of transaction-related costs related to this acquisition in the Current Quarter and Current Period, respectively, and such costs are included in selling, general and administrative within the consolidated statements of operations. The following table summarizes the consideration transferred and the estimated fair value of identified assets acquired and liabilities assumed as of the date of acquisition: ​ ​ ​ ​ ​ Purchase price allocation ​ As Reported as of March 31, 2023 and December 31, 2022 Consideration transferred ​ (in thousands) Class A common stock (952,753 shares) ​ $ 9,194 Total consideration transferred ​ 9,194 Less: identifiable assets acquired and liabilities assumed ​ ​ Working capital ​ (42) Property and equipment ​ 8,192 Customer relationships ​ ​ 3,894 Long-term ARO ​ ​ (2,850) Total identifiable net assets acquired ​ ​ 9,194 Fair value allocated to net assets acquired $ 9,194 ​

REVENUE

REVENUE	9 Months Ended
	Sep. 30, 2023
REVENUE
REVENUE	NOTE 4—REVENUE ​ The Company follows ASU 2014-09, Revenue from Contracts with Customers (Topic 606) Leases, The following factors are applicable to all three of the Company’s segments for the Current Quarter, Prior Quarter, Current Period and Prior Period, respectively: ● The vast majority of Water Services and Chemical Technologies customer agreements are short-term, lasting less than one year. Water Infrastructure contains both short-term and long-term agreements. ● Contracts are seldom combined together as virtually all of our customer agreements constitute separate performance obligations. Each job is typically distinct, thereby not interdependent or interrelated with other customer agreements. ● Most contracts allow either party to terminate at any time without substantive penalties. If the customer terminates the contract, the Company is unconditionally entitled to the payments for the services rendered and products delivered to date. ● Contract terminations before the end of the agreement are rare. ● Sales returns are rare and no sales return assets have been recognized on the balance sheet. ● There are minimal volume discounts. ● There are no service-type warranties. ● There is no long-term customer financing. ● Taxes assessed by government authorities included on customer invoices are excluded from revenue. In the Water Services and Water Infrastructure segments, performance obligations arise in connection with services provided to customers in accordance with contractual terms, in an amount the Company expects to collect. Services are generally sold based upon customer orders or contracts with customers that include fixed or determinable prices. Revenues are generated by services rendered and measured based on output generated, which is usually simultaneously received and consumed by customers at their job sites. As a multi-job site organization, contract terms, including pricing for the Company’s services, are negotiated on a job site level on a per-job basis. Most jobs are completed in a short period of time, usually between one day and one month. Revenue is recognized as performance obligations are completed on a daily, hourly or per unit basis with unconditional rights to consideration for services rendered reflected as accounts receivable trade, net of allowance for credit losses. In cases where a prepayment is received before the Company satisfies its performance obligations, a contract liability is recorded in accrued expenses and other current liabilities. Final billings generally occur once all of the proper approvals are obtained. Mobilization and demobilization are factored into the pricing for services. Billings and costs related to mobilization and demobilization are not material for customer agreements that start in one period and end in another. As of September 30, 2023, the Company had fourteen revenue-producing contracts lasting over one year that include enforceable rights and obligations to fall within the scope of the model in the Topic 606 standard in place for these segments. As of September 30, 2023 and December 31, 2022, the Company had no contract assets or contract liabilities. Accommodations and rentals revenue is included in the Water Services segment and the Company accounts for accommodations and rentals agreements as an operating lease. The Company recognizes revenue from renting equipment on a straight-line basis. Accommodations and rental contract periods are generally daily, weekly or monthly. The average lease term is less than three months and as of September 30, 2023, there were no material rental agreements in effect lasting more than one year. During the Current Quarter, Prior Quarter, Current Period and Prior Period, approximately $19.5 million, $21.1 million, $63.3 million and $54.3 million respectively, of accommodations and rentals revenue was accounted for under ASC 842 lease guidance. In the Chemical Technologies segment, the typical performance obligation is to provide a specific quantity of chemicals to customers in accordance with the customer agreement in an amount the Company expects to collect. Products and services are generally sold based upon customer orders or contracts with customers that include fixed or determinable prices. Revenue is recognized as the customer takes title to chemical products in accordance with the agreement. Products may be provided to customers in packaging or delivered to the customers’ containers through a hose. In some cases, the customer takes title to the chemicals upon consumption from storage containers on their property, where the chemicals are considered inventory until customer usage. In cases where the Company delivers products and recognizes revenue before collecting payment, the Company usually has an unconditional right to payment reflected in accounts receivable trade, net of allowance for credit losses. Customer returns are rare and immaterial and there were no material in-process customer agreements for this segment as of September 30, 2023, lasting greater than one year. The following table sets forth certain financial information with respect to the Company’s disaggregation of revenues by geographic location: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ ​ 2023 2022 ​ 2023 2022 ​ ​ (in thousands) ​ Geographic Region ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Permian Basin ​ $ 190,637 ​ $ 176,357 ​ $ 581,153 ​ $ 462,481 ​ Rockies ​ ​ 61,530 ​ ​ 42,139 ​ ​ 169,475 ​ ​ 113,756 ​ Marcellus/Utica ​ ​ 38,789 ​ ​ 41,160 ​ ​ 123,275 ​ ​ 98,913 ​ Eagle Ford ​ ​ 37,023 ​ ​ 40,213 ​ ​ 130,836 ​ ​ 113,505 ​ Mid-Continent ​ ​ 22,806 ​ ​ 30,758 ​ ​ 76,967 ​ ​ 91,548 ​ Bakken ​ ​ 22,315 ​ ​ 22,567 ​ ​ 71,962 ​ ​ 54,564 ​ Haynesville/E. Texas ​ ​ 18,406 ​ ​ 25,039 ​ ​ 63,495 ​ ​ 77,818 ​ Eliminations and other regions ​ ​ (2,233) ​ ​ (3,161) ​ ​ (6,670) ​ ​ (6,841) ​ Total ​ $ 389,273 ​ $ 375,072 ​ $ 1,210,493 ​ $ 1,005,744 ​ ​ In the Water Services segment, the most recent top three revenue-producing regions are the Permian Basin, Marcellus/Utica and Rockies, which collectively comprised 71%, 68%, 69% and 69% of segment revenue for the Current Quarter, Prior Quarter, Current Period and Prior Period, respectively. In the Water Infrastructure segment, the most recent top three revenue-producing regions are the Permian Basin, Haynesville and Rockies which collectively comprised 81%, 70%, 78% and 69% of segment revenue for the Current Quarter, Prior Quarter, Current Period and Prior Period, respectively. In the Chemical Technologies segment, the most recent top three revenue-producing regions are the Permian Basin, Rockies and Eagle Ford, which collectively comprised 92%, 85%, 90% and 74% of segment revenue for the Current Quarter, Prior Quarter, Current Period and Prior Period, respectively.

INVENTORIES

INVENTORIES	9 Months Ended
	Sep. 30, 2023
INVENTORIES
INVENTORIES	NOTE 5—INVENTORIES Inventories, which are comprised of chemicals and raw materials available for resale and parts and consumables used in operations, are valued at the lower of cost and net realizable value, with cost determined under the weighted-average method. The significant components of inventory are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2023 December 31, 2022 ​ ​ (in thousands) Raw materials ​ $ 29,765 ​ $ 20,518 Finished goods ​ 15,115 ​ 20,646 Total ​ $ 44,880 ​ $ 41,164 ​ During the Current Quarter and Current Period, the Company recorded net charges to the reserve for excess and obsolete inventory of $0.1 million and $0.6 million, respectively. During the Prior Quarter and Prior Period, the Company recorded net credits to the reserve for excess and obsolete inventory of $0.8 million and $0.6 million, respectively. Both credits and charges to the reserve for excess and obsolete inventory were recognized within costs of revenue on the accompanying consolidated statements of operations. The Company’s inventory reserve was $3.7 million and $3.1 million as of September 30, 2023 and December 31, 2022, respectively. The reserve for excess and obsolete inventories is determined based on the Company’s historical usage of inventory on hand, as well as future expectations and the amount necessary to reduce the cost of the inventory to its estimated net realizable value.

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	9 Months Ended
	Sep. 30, 2023
PROPERTY AND EQUIPMENT.
PROPERTY AND EQUIPMENT	NOTE 6—PROPERTY AND EQUIPMENT Property and equipment are stated at cost less accumulated depreciation. Depreciation (and amortization of finance lease assets) is calculated on a straight-line basis over the estimated useful life of each asset. Property and equipment consists of the following as of September 30, 2023 and December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2023 December 31, 2022 ​ ​ (in thousands) Machinery and equipment ​ $ 675,327 ​ $ 675,505 Buildings and leasehold improvements ​ 147,091 ​ 145,223 Gathering and disposal infrastructure ​ 89,499 ​ 87,568 Pipelines ​ ​ 72,829 ​ ​ 72,829 Vehicles and equipment ​ 21,600 ​ 27,850 Land ​ ​ 24,678 ​ ​ 24,159 Computer equipment and software ​ ​ 4,188 ​ ​ 6,765 Office furniture and equipment ​ 772 ​ 1,183 Machinery and equipment - finance lease ​ 519 ​ 519 Vehicles and equipment - finance lease ​ 47 ​ 58 Computer equipment and software - finance lease ​ 386 ​ 56 Construction in progress ​ 114,718 ​ 42,290 ​ ​ 1,151,654 ​ 1,084,005 Less accumulated depreciation (1) ​ (628,293) ​ (584,451) Total property and equipment, net ​ $ 523,361 ​ $ 499,554 (1) Includes $0.7 million of accumulated depreciation related to finance leases as of both September 30, 2023 and December 31, 2022. Total depreciation and amortization expense related to property and equipment and finance leases presented in the table above, as well as amortization of intangible assets presented in “Note 7— Other Intangible Assets” is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ ​ ​ 2023 2022 ​ 2023 2022 ​ ​ ​ (in thousands) ​ ​ Category ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation expense from property and equipment ​ $ 30,185 ​ $ 24,379 ​ $ 90,578 ​ $ 75,083 ​ ​ Amortization expense from finance leases ​ ​ 60 ​ ​ 5 ​ ​ 69 ​ ​ 106 ​ ​ Amortization expense from intangible assets ​ ​ 4,663 ​ ​ 2,572 ​ ​ 13,211 ​ ​ 8,017 ​ ​ Accretion expense from asset retirement obligations ​ ​ 254 ​ ​ 259 ​ ​ 764 ​ ​ 855 ​ ​ Total depreciation and amortization ​ $ 35,162 ​ $ 27,215 ​ $ 104,622 ​ $ 84,061 ​ ​ ​

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	9 Months Ended
	Sep. 30, 2023
GOODWILL AND OTHER INTANGIBLE ASSETS
GOODWILL AND OTHER INTANGIBLE ASSETS	NOTE 7—GOODWILL AND OTHER INTANGIBLE ASSETS The Company recorded $4.7 million of goodwill in connection with the Breakwater Acquisition in the Current Period. Goodwill is evaluated for impairment annually, or more frequently if indicators of impairment exist. See “Note 3—Acquisitions ” The changes in the carrying amounts of goodwill by reportable segment as of September 30, 2023 and December 31, 2022 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Water ​ Water ​ ​ ​ ​ Services Infrastructure Total ​ ​ (in thousands) Balance as of December 31, 2022 ​ $ — ​ $ — ​ $ — Additions ​ ​ 1,438 ​ ​ 3,245 ​ ​ 4,683 Balance as of September 30, 2023 ​ $ 1,438 ​ $ 3,245 ​ $ 4,683 ​ ​ On February 21, 2023, the Company announced a rebranding initiative that occurred during the first half of 2023. As a result of this initiative, our existing trademarks are no longer considered indefinite-lived and will be measured for abandonment whenever events or changes in circumstances indicate that its carrying value may not be recoverable. The rebranding announcement qualifies as a triggering event, and the Company tested the existing trademarks for abandonment. This evaluation included significant judgment, including discount rates based on our weighted-average cost of capital and the royalty rate. This resulted in $11.1 million of abandonment expense to trademarks using the relief-from-royalty method, which was recorded in the Chemical Technologies segment . ​ The components of other intangible assets, net as of September 30, 2023 and December 31, 2022 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 30, 2023 ​ As of December 31, 2022 ​ Gross ​ Accumulated Net Gross Accumulated Net ​ ​ Value ​ Abandonment ​ Amortization ​ Value ​ Value ​ Amortization ​ Value ​ ​ (in thousands) ​ (in thousands) Definite-lived ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Customer relationships ​ $ 164,600 ​ $ — ​ $ (57,911) ​ $ 106,689 ​ $ 158,232 ​ $ (48,123) ​ $ 110,109 Patents and other intellectual property ​ ​ 12,772 ​ ​ — ​ ​ (6,743) ​ ​ 6,029 ​ ​ 12,772 ​ ​ (5,701) ​ ​ 7,071 Trademarks ​ ​ 14,360 ​ ​ (11,106) ​ ​ (2,278) ​ ​ 976 ​ ​ — ​ ​ — ​ ​ — Other ​ ​ 2,803 ​ ​ — ​ ​ (2,677) ​ ​ 126 ​ 2,803 ​ (2,574) ​ 229 Total definite-lived ​ ​ 194,535 ​ ​ (11,106) ​ ​ (69,609) ​ ​ 113,820 ​ ​ 173,807 ​ ​ (56,398) ​ ​ 117,409 Indefinite-lived ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Water rights ​ ​ 7,031 ​ ​ — ​ ​ — ​ ​ 7,031 ​ ​ 7,031 ​ ​ — ​ ​ 7,031 Trademarks ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 14,360 ​ ​ — ​ ​ 14,360 Total indefinite-lived ​ ​ 7,031 ​ ​ — ​ ​ — ​ ​ 7,031 ​ ​ 21,391 ​ ​ — ​ ​ 21,391 Total other intangible assets, net ​ $ 201,566 ​ $ (11,106) ​ $ (69,609) ​ $ 120,851 ​ $ 195,198 ​ $ (56,398) ​ $ 138,800 ​ ​ The weighted-average amortization period for customer relationships, patents and other intellectual property, other definite-lived assets and trademarks was 9.3 years, 4.8 years, 0.9 years and 0.3 years, respectively, as of September 30, 2023. See “Note 6—Property and Equipment” for the amortization expense during the Current Quarter, Prior Quarter, Current Period and Prior Period, respectively. The indefinite-lived water trademarks five ​ ​ ​ ​ ​ ​ ​ Amount ​ ​ ​ (in thousands) ​ Remainder of 2023 ​ $ 4,662 ​ Year ending December 31, 2024 ​ 14,676 ​ Year ending December 31, 2025 ​ 14,513 ​ Year ending December 31, 2026 ​ 14,425 ​ Year ending December 31, 2027 ​ 13,923 ​ Thereafter ​ ​ 51,621 ​ Total ​ $ 113,820 ​ ​

DEBT

DEBT	9 Months Ended
	Sep. 30, 2023
DEBT
DEBT	NOTE 8—DEBT Sustainability-linked credit facility and revolving line of credit On March 17, 2022 (the “Restatement Date”), SES Holdings and Select Water Solutions, LLC (“Select LLC”), formerly Select Energy Services, LLC and a wholly-owned subsidiary of SES Holdings, entered into a $270.0 million amended and restated senior secured sustainability-linked revolving credit facility (the “Sustainability-Linked Credit Facility”), by and among SES Holdings, as parent, Select LLC, as borrower, and certain of SES Holdings’ subsidiaries, as guarantors, each of the lenders party thereto and Wells Fargo Bank, N.A., as administrative agent, issuing lender and swingline lender (the “Administrative Agent”) (which amended and restated the Credit Agreement dated November 1, 2017 by and among SES Holdings, as parent, Select LLC, as borrower and certain of SES Holdings’ subsidiaries, as guarantors, each of the lenders party thereto and the Administrative Agent (the “Prior Credit Agreement”)). Refer to “Note 10—Debt” in the Company’s Annual Report on Form 10-K for a discussion of the Prior Credit Agreement. The Sustainability-Linked Credit Facility also has a sublimit of $40.0 million for letters of credit and $27.0 million for swingline loans, respectively. Subject to obtaining commitments from existing or new lenders, Select LLC has the option to increase the maximum amount under the senior secured credit facility by $135.0 million during the first three years following the Restatement Date. The Sustainability-Linked Credit Facility permits extensions of credit up to the lesser of $270.0 million and a borrowing base that is determined by calculating the amount equal to the sum of (i) 85% of the Eligible Billed Receivables (as defined in the Sustainability-Linked Credit Facility), plus (ii) 75% of Eligible Unbilled Receivables (as defined in the Sustainability-Linked Credit Facility), provided that this amount will not equal more than 35% of the borrowing base, plus (iii) the lesser of (A) the product of 70% multiplied by the value of Eligible Inventory (as defined in the Sustainability-Linked Credit Facility) at such time and (B) the product of 85% multiplied by the Net Recovery Percentage (as defined in the Sustainability-Linked Credit Facility) identified in the most recent Acceptable Appraisal of Inventory (as defined in the Sustainability-Linked Credit Facility), multiplied by the value of Eligible Inventory at such time, provided that this amount will not equal more than 30% of the borrowing base, minus (iv) the aggregate amount of Reserves (as defined in the Sustainability-Linked Credit Facility), if any, established by the Administrative Agent from time to time, including, if any, the amount of the Dilution Reserve (as defined in the Sustainability-Linked Credit Facility). The borrowing base is calculated on a monthly basis pursuant to a borrowing base certificate delivered by Select LLC to the Administrative Agent. Borrowings under the Sustainability-Linked Credit Facility bear interest, at Select LLC’s election, at either the (a) one- or three-month Term Secured Overnight Financing Rate (“SOFR”) (as defined in the Sustainability-Linked Credit Facility) or (b) the greatest of (i) the federal funds rate plus 0.5%, (ii) one-month Term SOFR plus 1% and (iii) the Administrative Agent’s prime rate (the “Base Rate”), in each case plus an applicable margin, and interest shall be payable monthly in arrears. The applicable margin for Term SOFR loans ranges from 1.75% to 2.25% and the applicable margin for Base Rate loans ranges from 0.75% to 1.25%, in each case, depending on Select LLC’s average excess availability under the Sustainability-Linked Credit Facility, as set forth in the table below. During the continuance of a bankruptcy event of default, automatically, and during the continuance of any other default, upon the Administrative Agent’s or the required lenders’ election, all outstanding amounts under the Sustainability-Linked Credit Facility will bear interest at 2.00% plus the otherwise applicable interest rate. The Sustainability-Linked Credit Facility is scheduled to mature on the fifth anniversary of the Restatement Date. ​ ​ ​ ​ ​ ​ ​ ​ Level ​ Average Excess Availability ​ Base Rate Margin ​ SOFR Margin ​ ​ ​ ​ ​ ​ ​ I ​ < 33.33% of the commitments ​ 1.25% ​ 2.25% II ​ < 66.67% of the commitments and ≥ 33.33% of the commitments ​ 1.00% ​ 2.00% III ​ ≥ 66.67% of the commitments ​ 0.75% ​ 1.75% ​ ​ ​ ​ ​ ​ Level ​ Average Revolver Usage ​ Unused Line Fee Percentage ​ ​ ​ ​ ​ I ​ ≥ 50% of the commitments ​ 0.250% II ​ < 50% of the commitments ​ 0.375% ​ Under the Sustainability-Linked Credit Facility, the interest rate margin and the facility fee rates are also subject to adjustments based on Select LLC’s performance of specified sustainability target thresholds with respect to (i) total recordable incident rate, as the Employee Health and Safety Metric and (ii) barrels of produced water recycled at permanent or semi-permanent water treatment and recycling facilities owned or operated, as the Water Stewardship Metric, in each case, subject to limited assurance verification by a qualified independent external reviewer. The adjustment for the interest rate margin is a range of plus and minus 2.5 basis points for each of the Employee Health and Safety Metric and the Water Stewardship Metric and the adjustment for the fee margin is a range of plus and minus 0.5 basis points for each of the Employee Health and Safety Metric and the Water Stewardship Metric, subject to the mechanics under the Sustainability-Linked Credit Facility. The obligations under the Sustainability-Linked Credit Facility are guaranteed by SES Holdings and certain subsidiaries of SES Holdings and Select LLC and secured by a security interest in substantially all of the personal property assets of SES Holdings, Select LLC and their domestic subsidiaries. The Sustainability-Linked Credit Facility contains certain customary representations and warranties, affirmative and negative covenants and events of default. If an event of default occurs and is continuing, the lenders may declare all amounts outstanding under the Sustainability-Linked Credit Facility to be immediately due and payable. In addition, the Sustainability-Linked Credit Facility restricts SES Holdings’ and Select LLC’s ability to make distributions on, or redeem or repurchase, its equity interests, except for certain distributions, including distributions of cash so long as, both at the time of the distribution and after giving effect to the distribution, no default exists under the Sustainability-Linked Credit Facility and either (a) excess availability at all times during the preceding 30 consecutive days, on a pro forma basis and after giving effect to such distribution, is not less than the greater of (1) 25% of the lesser of (A) the maximum revolver amount and (B) the then-effective borrowing base and (2) $33.75 million or (b) if SES Holdings’ fixed charge coverage ratio is at least 1.0 to 1.0 on a pro forma basis, and excess availability at all times during the preceding 30 consecutive days, on a pro forma basis and after giving effect to such distribution, is not less than the greater of (1) 20% of the lesser of (A) the maximum revolver amount and (B) the then-effective borrowing base and (2) $27.0 million. Additionally, the Sustainability-Linked Credit Facility generally permits Select LLC to make distributions required under its existing Tax Receivable Agreements. See “Note 12—Related Party Transactions—Tax Receivable Agreements” for further discussion of the Tax Receivable Agreements. The Sustainability-Linked Credit Facility also requires SES Holdings to maintain a fixed charge coverage ratio of at least 1.0 to 1.0 at any time availability under the Sustainability-Linked Credit Facility is less than the greater of (i) 10% of the lesser of (A) the maximum revolver amount and (B) the then-effective borrowing base and (ii) $15.0 million and continuing through and including the first day after such time that availability under the Sustainability-Linked Credit Facility has equaled or exceeded the greater of (i) 10% of the lesser of (A) the maximum revolver amount and (B) the then-effective borrowing base and (ii) $15.0 million for 60 consecutive calendar days. Certain lenders party to the Sustainability-Linked Credit Facility and their respective affiliates have from time to time performed, and may in the future perform, various financial advisory, commercial banking and investment banking services for the Company and its affiliates in the ordinary course of business for which they have received and would receive customary compensation. In addition, in the ordinary course of their various business activities, such parties and their respective affiliates may make or hold a broad array of investments and actively trade debt and equity securities (or related derivative securities) and financial instruments (including bank loans) for their own account and for the accounts of their customers, and such investments and securities activities may involve the Company’s securities and/or instruments. The Company had no borrowings outstanding under the Sustainability-Linked Credit Facility as of September 30, 2023 and $16.0 million outstanding as of December 31, 2022. outlined above. The unused portion of the available borrowings under the Sustainability-Linked Credit Facility was $224.0 million as of September 30, 2023. In connection with the entry into the Sustainability-Linked Credit Facility, the Company incurred $2.1 million of debt issuance costs during the year ended December 31, 2022. Debt issuance costs are amortized to interest expense over the life of the debt to which they pertain. Total unamortized debt issuance costs as of September 30, 2023 and December 31, 2022, were $1.7 million and $2.1 million, respectively. As these debt issuance costs relate to a revolving line of credit, they are presented as a deferred charge within other assets on the consolidated balance sheets. Amortization expense related to debt issuance costs was $0.1 million, $0.1 million, $0.4 million and $0.5 million for the Current Quarter, Prior Quarter, Current Period and Prior Period, respectively. The Company was in compliance with all debt covenants as of September 30, 2023.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2023
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 9—COMMITMENTS AND CONTINGENCIES Litigation The Company is subject to a number of lawsuits and claims arising out of the normal conduct of its business. The ability to predict the ultimate outcome of such matters involves judgments, estimates and inherent uncertainties. Based on a consideration of all relevant facts and circumstances, including applicable insurance coverage, it is not expected that the ultimate outcome of any currently pending lawsuits or claims against the Company will have a material adverse effect on its consolidated financial position, results of operations or cash flows; however, there can be no assurance as to the ultimate outcome of these matters. Retentions We are self-insured up to certain retention limits with respect to workers’ compensation, general liability and vehicle liability matters, and health insurance. We maintain accruals for self-insurance retentions that we estimate using third-party data and claims history.

EQUITY-BASED COMPENSATION

EQUITY-BASED COMPENSATION	9 Months Ended
	Sep. 30, 2023
EQUITY-BASED COMPENSATION
EQUITY-BASED COMPENSATION	NOTE 10—EQUITY-BASED COMPENSATION The SES Holdings 2011 Equity Incentive Plan (the “2011 Plan”) was approved by the board of managers of SES Holdings in April 2011. In conjunction with the private placement of 16,100,000 shares of the Company’s Class A common stock on December 20, 2016 (the “Select 144A Offering”), the Company adopted the Select Energy Services, Inc. 2016 Equity Incentive Plan (as amended, the “2016 Plan”) for employees, consultants and directors of the Company and its affiliates. Options that were outstanding under the 2011 Plan immediately prior to the Select 144A Offering were cancelled in exchange for new options granted under the 2016 Plan. On May 8, 2020, the Company’s stockholders approved an amendment to the 2016 Plan to increase the number of shares of the Company’s Class A common stock that may be issued under the 2016 Plan by 4,000,000 shares and to make certain other administrative changes. The 2016 Plan includes share recycling provisions that allow shares subject to an award that are withheld or surrendered to the Company in payment of any exercise price or taxes or an award that expires or is cancelled, forfeited or otherwise terminated without actual delivery of the underlying shares of Class A common stock to be considered not delivered and thus available to be granted as new awards under the 2016 Plan. Currently, the maximum number of shares reserved for issuance under the 2016 Plan is approximately 13.3 million shares, with approximately 1.6 million shares available to be issued as of September 30, 2023. For all share-based compensation award types, the Company accounts for forfeitures as they occur. On February 23, 2022, the Company assumed the Nuverra Environmental Solutions, Inc. 2017 Long Term Incentive Plan (the “2017 Plan”), and the Nuverra Environmental Solutions, Inc. 2018 Restricted Stock Plan for Directors (the “2018 Plan” and, together with the 2017 Plan, the “Assumed Plans”) and certain equity awards outstanding under the Assumed Plans in connection with the Company’s previously completed acquisition of Nuverra Environmental Solutions, Inc. (the “Nuverra Acquisition”). Under the 2017 Plan, the Company may grant to certain eligible participants who were employees, directors or other service providers of Nuverra prior to the Nuverra Acquisition options, stock appreciation rights, restricted stock, restricted stock units, stock awards, dividend equivalents, other stock-based awards, cash awards, substitute awards, performance awards, or any combination of the foregoing, with respect to up to 1,772,058 shares of Nuverra common stock. Under the 2018 Plan, the Company may grant to certain eligible participants who were directors of Nuverra prior to the Nuverra Acquisition restricted stock awards with respect to up to 100,000 shares of Nuverra common stock. The shares remaining available for issuance under the Assumed Plans were converted into shares of the Company’s Class A common stock at a conversion rate of one Nuverra share to 0.2551 shares of the Company’s Class A common stock such that at the time of the Nuverra Acquisition an aggregate of 131,110 shares of the Company’s Class A common stock was available for issuance with respect to assumed awards and future awards under the 2017 Plan and an aggregate of 24,984 shares of the Company’s Class A common stock was available for issuance with respect to assumed awards and future awards under the 2018 Plan. No awards have been granted under these legacy Nuverra Assumed Plans. The aggregate number of shares of the Company’s Class A common stock available for issuance under the Assumed Plans will be reduced by ​ Stock Option Awards The Company has outstanding stock option awards as of September 30, 2023 but there have been no option grants since 2018. The stock options were granted with an exercise price equal to or greater than the fair market value of a share of Class A common stock as of the date of grant. The expected life of the options at the time of the grant was based on the vesting period and term of the options awarded, which was ten years. A summary of the Company’s stock option activity and related information as of and for the Current Period is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the nine months ended September 30, 2023 ​ ​ ​ ​ ​ ​ ​ Weighted-average ​ ​ ​ ​ ​ ​ ​ Weighted-average ​ Grant Date Value ​ Aggregate Intrinsic ​ Stock Options Exercise Price Term (Years) Value (in thousands) (a) Beginning balance, outstanding 1,666,872 ​ $ 17.10 ​ 4.2 ​ $ 353 Expired ​ (11,920) ​ ​ 29.34 ​ ​ ​ ​ ​ Ending balance, outstanding 1,654,952 ​ $ 17.01 ​ 3.4 ​ $ — Ending balance, exercisable ​ 1,654,952 ​ $ 17.01 ​ 3.4 ​ $ — Nonvested as of September 30, 2023 ​ — ​ $ — ​ ​ ​ ​ ​ ​ (a) As of March 31, 2021, all equity-based compensation expense related to stock options had been recognized. Restricted Stock Awards The value of the restricted stock awards granted was established by the market price of the Class A common stock on the date of grant and is recorded as compensation expense ratably over the vesting term, which is generally over three years from the applicable date of grant. The Company recognized compensation expense of $4.2 million, $3.7 million, $12.3 million and $10.3 million related to the restricted stock awards for the Current Quarter, Prior Quarter, Current Period and Prior Period, respectively. As of September 30, 2023, there was $18.5 million of unrecognized compensation expense with a weighted-average remaining life of 1.7 years related to unvested restricted stock awards. A summary of the Company’s restricted stock awards activity and related information for the Current Period is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ For the nine months ended September 30, 2023 ​ ​ ​ ​ Weighted-average ​ Restricted Stock Awards Grant Date Fair Value Nonvested as of December 31, 2022 ​ 4,237,715 ​ $ 7.36 Granted ​ 1,633,849 ​ ​ 7.46 Vested ​ (1,678,652) ​ ​ 7.43 Forfeited ​ (72,363) ​ ​ 7.37 Nonvested as of September 30, 2023 ​ 4,120,549 ​ $ 7.37 ​ Performance Share Units (PSUs) During 2021, 2022 and 2023, the Company approved grants of PSUs that are subject to both performance-based and service-based vesting provisions related to (i) return on asset performance (“ROA”) in comparison to thirteen peer companies and (ii) Adjusted Free Cash Flow (“FCF”) performance percentage. The number of shares of Class A common stock issued to a recipient upon vesting of the PSUs will be calculated based on ROA and FCF performance over the applicable period from either January 1, 2021 through December 31, 2023, January 1, 2022 through December 31, 2024 or January 1, 2023 through December 31, 2025. The target number of shares of Class A common stock subject to each remaining PSU granted in 2021, 2022 and 2023 is one; however, based on the achievement of performance criteria, the number of shares of Class A common stock that may be received in settlement of each PSU can range from zero to 1.75 times the target number. The PSUs become earned at the end of the performance period after the attainment of the performance level has been certified by the compensation committee, which will be no later than June 30, 2024 for the 2021 PSU grants, June 30, 2025 for the 2022 PSU grants, and June 30, 2026, for the 2023 PSU grants, assuming the applicable minimum performance metrics are achieved. The target PSUs granted in 2021, 2022 and 2023 that become earned connected with the ROA in comparison to other companies will be determined based on the Company’s Average Return on Assets (as defined in the applicable PSU agreement) relative to the Average Return on Assets of the peer companies (as defined in the applicable PSU agreement) in accordance with the following table, but the Company must have a positive Total Shareholder Return (as defined in the applicable PSU agreement) over the performance period. As a result of this market condition, the 2021, 2022 and 2023 PSUs will be valued each reporting period utilizing a Black-Scholes model. ​ ​ ​ ​ Ranking Among Peer Group ​ Percentage of Target Amount Earned Outside of Top 10 ​ 0% Top 10 ​ 50% Top 7 ​ 100% Top 3 ​ 175% ​ The target PSUs that become earned in connection with the adjusted FCF performance percentage will be determined (as defined in the applicable PSU agreement) in accordance with the following table: ​ ​ ​ ​ Adjusted FCF Performance Percentage ​ Percentage of Target Amount Earned Less than 70% ​ 0% 70% ​ 50% 100% ​ 100% 130% ​ 175% ​ The fair value on the date the PSUs were granted during 2023, 2022 and 2021 was $5.3 million, $5.0 million and $4.4 million, respectively. Compensation expense related to the PSUs is determined by multiplying the number of shares of Class A common stock underlying such awards that, based on the Company’s estimate, are probable to vest by the measurement date (i.e., the last day of each reporting period date) fair value and recognized using the accelerated attribution method. The Company recognized compensation expense of $0.8 million, $0.1 million, $0.5 million and $0.7 million related to the PSUs for the Current Quarter, Prior Quarter, Current Period and Prior Period, respectively. As of September 30, 2023, the unrecognized compensation cost related to our unvested PSUs is estimated to be $6.2 million and is expected to be recognized over a weighted-average period of 2.1 years. However, this compensation cost will be adjusted as appropriate throughout the applicable performance periods. ​ ​ The following table summarizes the information about the PSUs outstanding as of September 30, 2023: ​ ​ ​ ​ ​ PSUs Nonvested as of December 31, 2022 ​ 1,860,734 Target shares granted ​ 828,514 Target shares forfeited (1) ​ (711,112) Target shares outstanding as of September 30, 2023 ​ 1,978,136 (1) All PSUs granted in 2020 did not achieve the respective performance targets and were forfeited. Employee Stock Purchase Plan (ESPP) The Company formerly had an Employee Stock Purchase Plan (“ESPP”) under which employees that have been continuously employed for at least one year may purchase shares of Class A common stock at a discount. On November 3, 2022, our board of directors approved an amendment to the ESPP, which suspended all offerings on or after December 1, 2022. Our board of directors reserves the right to recommence offerings pursuant to its discretion and the terms of the ESPP. Share Repurchases During the Current Quarter, the Company repurchased 33,525 shares of Class A common stock in connection with employee minimum tax withholding requirements for shares vested under the 2016 Plan. All repurchased shares were retired. During the Current Quarter, the repurchases were accounted for as a decrease to paid-in-capital of $0.3 million and a decrease to Class A common stock of less than $1,000. In the Prior Quarter, the Company repurchased 40,060 shares of Class A common stock in connection with employee minimum tax withholding requirements. During the Current Period, the Company repurchased 6,487,490 shares of Class A common stock in the open market and 496,885 shares of Class A common stock in connection with employee minimum tax withholding requirements for shares vested under the 2016 Plan. All repurchased shares were retired. During the Current Period, the repurchases were accounted for as a decrease to paid-in-capital of $49.8 million and a decrease to Class A common stock of less than $70,000. In the Prior Period, the Company repurchased 2,297,985 shares of Class A common stock in the open market and repurchased 496,998 shares of Class A common stock in connection with employee minimum tax withholding requirements. The IRA 2022 provides for, among other things, the imposition of a new 1% U.S. federal excise tax on certain repurchases of stock by publicly traded U.S. corporations such as us after December 31, 2022. Accordingly, this excise tax will apply to our share repurchase program in 2023 and in subsequent taxable years. The Biden administration has proposed increasing the amount of the excise tax from 1% to 4%; however, it is unclear whether such a change in the amount of the excise tax will be enacted and, if enacted, how soon any such change could take effect.

FAIR VALUE MEASUREMENT

FAIR VALUE MEASUREMENT	9 Months Ended
	Sep. 30, 2023
FAIR VALUE MEASUREMENT
FAIR VALUE MEASUREMENT	NOTE 11—FAIR VALUE MEASUREMENT The Company utilizes fair value measurements to measure assets and liabilities in a business combination or assess impairment and abandonment of property and equipment, intangible assets and goodwill or to measure the value of securities marked to market. Fair value is defined as the amount at which an asset (or liability) could be bought (or incurred) or sold (or settled) in an orderly transaction between market participants at the measurement date. Further, ASC 820, Fair Value Measurements ASC 820 establishes a three-level valuation hierarchy for the disclosure of fair value measurements. The valuation hierarchy categorizes assets and liabilities measured at fair value into one of three different levels depending on the observability of the inputs employed in the measurement. The three levels are defined as follows: Level 1 Level 2 Level 3 A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. There were no transfers into, or out of, the three levels of the fair value hierarchy for the nine months ended September 30, 2023 or the year ended December 31, 2022. The following table presents information about the Company’s assets measured at fair value on a non-recurring basis as of September 30, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Measurements Using ​ Carrying ​ ​ ​ ​ ​ ​ ​ ​ ​ Level 1 ​ Level 2 ​ Level 3 ​ Value (1) ​ Abandonment (2) ​ ​ ​ ​ ​ ​ (in thousands) Nine Months Ended September 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Trademark ​ Non-recurring ​ March 31 ​ $ — ​ $ — ​ $ 2,929 ​ $ 14,360 ​ $ 11,106 (1) Amount represents carrying value at the date of assessment. (2) See “Note 7—Other Intangible Assets” for a discussion of the Trademark abandonment recorded in the Current Period. Other fair value considerations The carrying values of the Company’s current financial instruments, which include cash and cash equivalents, accounts receivable trade and accounts payable, approximate their fair value as of September 30, 2023 and December 31, 2022, due to the short-term nature of these instruments. The carrying value of debt as of December 31, 2022 approximates fair value due to variable market rates of interest. The estimated fair values of the Company’s financial instruments are not necessarily indicative of the amounts that would be realized in a current market exchange.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2023
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 12—RELATED-PARTY TRANSACTIONS The Company considers its related parties to be those stockholders who are beneficial owners of more than 5.0% of its common stock, executive officers, members of its board of directors or immediate family members of any of the foregoing persons, an investment in a company that is significantly influenced by another related party, and cost-method and equity-method investees. The Company has entered into a number of transactions with related parties. In accordance with the Company’s related persons transactions policy, the audit committee of the Company’s board of directors regularly reviews these transactions. However, the Company’s results of operations may have been different if these transactions were conducted with non-related parties. During the Current Quarter, sales to related parties were less than $0.1 million and purchases from related-party vendors were $4.1 million. These purchases consisted of $3.1 million relating to the rental of certain equipment or other services used in operations, $0.6 million relating to property and equipment and $0.4 million relating to management, consulting and other services. During the Prior Quarter, sales to related parties were $0.5 million and purchases from related-party vendors were $3.3 million. These purchases consisted of $2.9 million relating to the rental of certain equipment or other services used in operations, $0.3 million relating to management, consulting and other services and $0.1 million relating to property and equipment, inventory and consumables. During the Current Period, sales to related parties were $0.4 million and purchases from related-party vendors were $12.6 million. These purchases consisted of $9.2 million relating to the rental of certain equipment or other services used in operations, $2.4 million relating to property and equipment, $0.9 million relating to management, consulting and other services and $0.1 million relating to inventory and consumables. During the Prior Period, sales to related parties were $1.6 million and purchases from related-party vendors were $8.8 million. These purchases consisted of $7.4 million relating to the rental of certain equipment or other services used in operations, $1.0 million relating to management, consulting and other services and $0.4 million relating to property and equipment, inventory and consumables. Tax Receivable Agreements In connection with the Select 144A Offering, the Company entered into two tax receivable agreements (the “Tax Receivable Agreements”) with Legacy Owner Holdco and certain other affiliates of the then holders of SES Holdings LLC Units (each such person and any permitted transferee thereof, a “TRA Holder,” and together, the “TRA Holders”). The first of the Tax Receivable Agreements, which the Company entered into with Legacy Owner Holdco and Crestview Partners II GP, L.P. (“Crestview GP”), generally provides for the payment by the Company to such TRA Holders of 85% of the net cash savings, if any, in U.S. federal, state and local income and franchise tax that the Company actually realizes (computed using simplifying assumptions to address the impact of state and local taxes) or is deemed to realize in certain circumstances in periods after the Select 144A Offering as a result of, as applicable to each such TRA Holder, (i) certain increases in tax basis that occur as a result of the Company’s acquisition (or deemed acquisition for U.S. federal income tax purposes) of all or a portion of such TRA Holder’s SES Holdings LLC Units in connection with the Select 144A Offering or pursuant to the exercise of the Exchange Right or the Company’s Call Right and (ii) imputed interest deemed to be paid by the Company as a result of, and additional tax basis arising from, any payments the Company makes under such Tax Receivable Agreement. The second of the Tax Receivable Agreements, which the Company entered into with an affiliate of Legacy Owner Holdco and Crestview GP, generally provides for the payment by the Company to such TRA Holders of 85% of the net cash savings, if any, in U.S. federal, state and local income and franchise tax that the Company actually realizes (computed using simplifying assumptions to address the impact of state and local taxes) or is deemed to realize in certain circumstances in periods after the Select 144A Offering as a result of, as applicable to each such TRA Holder, (i) any net operating losses available to the Company as a result of certain reorganization transactions entered into in connection with the Select 144A Offering and (ii) imputed interest deemed to be paid by the Company as a result of any payments the Company makes under such Tax Receivable Agreement. On June 23, 2023, the Tax Receivable Agreements were amended to replace references to one year LIBOR with references to the 12-month term SOFR published by CME Group Benchmark Administration Limited plus 71.513 ​ The Company has not recognized a liability associated with the Tax Receivable Agreements as of September 30, 2023 or December 31, 2022. The liability is based on the actual cash tax savings expected to be realized by the Company, and the likelihood of a payment to be made under the Tax Receivable Agreements has been determined to not be probable or reasonably estimable. However, given the Company’s current and anticipated future earnings trends and other matters further described in Note 13 – Income Taxes below, there is a potential that within the next 12 months the Company may be in a position to reasonably estimate an amount and may determine that a future payment to be made under the terms of the Tax Receivable Agreements to be probable and we would therefore record a liability at that time. ​

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2023
INCOME TAXES
INCOME TAXES	NOTE 13—INCOME TAXES The Company’s income tax information is presented in the table below. The effective tax rate is different than the 21% standard Federal rate due to net income allocated to noncontrolling interests, state income taxes and valuation allowances. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ ​ 2023 ​ 2022 ​ 2023 ​ 2022 ​ ​ (in thousands) Current income tax expense ​ $ 537 ​ $ 284 ​ $ 1,165 ​ $ 729 Deferred income tax benefit ​ ​ (54) ​ ​ (8) ​ ​ (97) ​ ​ (57) Total income tax expense ​ $ 483 ​ $ 276 ​ $ 1,068 ​ $ 672 Effective Tax Rate ​ ​ 2.9% ​ ​ 1.1% ​ ​ 2.0% ​ ​ 1.4% ​ ​

NONCONTROLLING INTERESTS

NONCONTROLLING INTERESTS	9 Months Ended
	Sep. 30, 2023
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 ​ ​ ​ September 30, 2023 December 31, 2022 ​ ​ ​ ​ (in thousands) ​ Noncontrolling interests attributable to joint ventures formed for water-related services ​ ​ $ 1,267 $ 4,167 ​ Noncontrolling interests attributable to holders of Class B common stock ​ ​ ​ 118,511 113,584 ​ Total noncontrolling interests ​ ​ $ 119,778 $ 117,751 ​ ​ During the Current Period, 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. Further, 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: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, ​ ​ 2023 2022 ​ ​ ​ (in thousands) ​ Net income attributable to Select Water Solutions, Inc. ​ $ 46,808 $ 40,629 ​ Transfers from (to) noncontrolling interests: ​ ​ ​ ​ Increase (decrease) in additional paid-in capital as a result of issuing shares for business combinations ​ ​ 9 (1,356) ​ 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 ​ 1,418 2,166 ​ Increase in additional paid-in capital as a result of the repurchase of SES Holdings LLC Units ​ 88 438 ​ 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 ​ $ 48,323 $ 41,852 ​ ​

INCOME PER SHARE

INCOME PER SHARE	9 Months Ended
	Sep. 30, 2023
INCOME PER SHARE
INCOME PER SHARE	NOTE 15—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 1,654,952, 1,677,927, 1,654,952 The following tables present the Company’s calculation of basic and diluted loss per share for the Current and Prior Quarter and the Current and Prior Period (dollars in thousands, except share and per share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, 2023 ​ Three months ended September 30, 2022 ​ ​ Select Water ​ ​ ​ ​ ​ ​ ​ Select Water ​ ​ ​ ​ ​ ​ ​ Solutions, Inc. Class A Class B Solutions, Inc. Class A Class B Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 15,314 ​ ​ ​ ​ ​ ​ ​ $ 24,717 ​ ​ ​ ​ ​ ​ Net income attributable to noncontrolling interests ​ ​ (968) ​ ​ ​ ​ ​ ​ ​ ​ (3,393) ​ ​ ​ ​ ​ ​ Net income attributable to Select Water Solutions, Inc. — basic ​ $ 14,346 ​ $ 14,346 ​ $ — ​ $ 21,324 ​ $ 21,324 ​ $ — Add: Reallocation of net income attributable to noncontrolling interests for the dilutive effect of restricted stock ​ ​ 33 ​ ​ 33 ​ ​ — ​ ​ 30 ​ ​ 30 ​ ​ — Add: Reallocation of net income attributable to noncontrolling interests for the dilutive effect of performance units ​ ​ 17 ​ ​ 17 ​ ​ — ​ ​ 20 ​ ​ 20 ​ ​ — Net income attributable to Select Water Solutions, Inc. — diluted ​ $ 14,396 ​ $ 14,396 ​ $ — ​ $ 21,374 ​ $ 21,374 ​ $ — Denominator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-average shares of common stock outstanding — basic ​ ​ ​ ​ ​ 99,777,776 ​ ​ 16,221,101 ​ ​ ​ ​ ​ 94,014,963 ​ ​ 16,221,101 Dilutive effect of restricted stock ​ ​ ​ ​ ​ 1,636,808 ​ ​ — ​ ​ ​ ​ ​ 893,562 ​ ​ — Dilutive effect of performance share units ​ ​ ​ ​ ​ 839,354 ​ ​ — ​ ​ ​ ​ ​ 611,763 ​ ​ — Dilutive effect of ESPP ​ ​ ​ ​ ​ — ​ ​ — ​ ​ ​ ​ ​ 77 ​ ​ — Weighted-average shares of common stock outstanding — diluted ​ ​ ​ ​ ​ 102,253,938 ​ ​ 16,221,101 ​ ​ ​ ​ ​ 95,520,365 ​ ​ 16,221,101 Income per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic ​ ​ ​ ​ $ 0.14 ​ $ — ​ ​ ​ ​ $ 0.23 ​ $ — Diluted ​ ​ ​ ​ $ 0.14 ​ $ — ​ ​ ​ ​ $ 0.22 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, 2023 ​ Nine months ended September 30, 2022 ​ ​ Select Water ​ ​ ​ ​ ​ ​ ​ Select Water ​ ​ ​ ​ ​ ​ ​ Solutions, Inc. Class A Class B Solutions, Inc. Class A Class B Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 51,580 ​ ​ ​ ​ ​ ​ ​ $ 47,283 ​ ​ ​ ​ ​ ​ Net income attributable to noncontrolling interests ​ ​ (4,772) ​ ​ ​ ​ ​ ​ ​ ​ (6,654) ​ ​ ​ ​ ​ ​ Net income attributable to Select Water Solutions, Inc. — basic ​ $ 46,808 ​ $ 46,808 ​ $ — ​ $ 40,629 ​ $ 40,629 ​ $ — Add: Reallocation of net income attributable to noncontrolling interests for the dilutive effect of restricted stock ​ ​ 76 ​ ​ 76 ​ ​ — ​ ​ 62 ​ ​ 62 ​ ​ — Add: Reallocation of net income attributable to noncontrolling interests for the dilutive effect of performance units ​ ​ 40 ​ ​ 40 ​ ​ — ​ ​ 33 ​ ​ 33 ​ ​ — Net income attributable to Select Water Solutions, Inc. — diluted ​ $ 46,924 ​ $ 46,924 ​ $ — ​ $ 40,724 ​ $ 40,724 ​ $ — Denominator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-average shares of common stock outstanding — basic ​ ​ ​ ​ ​ 102,076,174 ​ ​ 16,221,101 ​ ​ ​ ​ ​ 93,231,711 ​ ​ 16,221,101 Dilutive effect of restricted stock ​ ​ ​ ​ ​ 1,208,009 ​ ​ — ​ ​ ​ ​ ​ 973,378 ​ ​ — Dilutive effect of performance share units ​ ​ ​ ​ ​ 641,706 ​ ​ — ​ ​ ​ ​ ​ 509,336 ​ ​ — Dilutive effect of ESPP ​ ​ ​ ​ ​ — ​ ​ — ​ ​ ​ ​ ​ 234 ​ ​ — Weighted-average shares of common stock outstanding — diluted ​ ​ ​ ​ ​ 103,925,889 ​ ​ 16,221,101 ​ ​ ​ ​ ​ 94,714,659 ​ ​ 16,221,101 Income per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic ​ ​ ​ ​ $ 0.46 ​ $ — ​ ​ ​ ​ $ 0.44 ​ $ — Diluted ​ ​ ​ ​ $ 0.45 ​ $ — ​ ​ ​ ​ $ 0.43 ​ $ — ​

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Sep. 30, 2023
SEGMENT INFORMATION
SEGMENT INFORMATION	NOTE 16—SEGMENT INFORMATION Select Inc. is a leading provider of comprehensive water-management and chemical solutions to the oil and gas industry in the U.S. The Company’s services are offered through three reportable segments. Reportable segments are defined as components of an enterprise for which separate financial information is evaluated regularly by the CODM in deciding how to allocate resources and assess performance. The Company’s CODM assesses performance and allocates resources on the basis of the three reportable segments. Corporate and other expenses that do not individually meet the criteria for segment reporting are reported separately as Corporate or Other. The Company’s CODM assesses performance and allocates resources on the basis of the following three reportable segments: Water Services Water Infrastructure ​ Chemical Technologies ​ Financial information by segment for the Current and Prior Quarter and the Current and Prior Period is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended September 30, 2023 ​ ​ ​ ​ Impairments and Income Depreciation and Capital ​ ​ Revenue ​ abandonments ​ before taxes ​ Amortization ​ Expenditures ​ ​ (in thousands) Water Services ​ $ 252,488 ​ $ — ​ $ 18,268 ​ $ 22,822 ​ $ 10,236 Water Infrastructure ​ ​ 59,756 ​ ​ 32 ​ ​ 10,909 ​ ​ 9,192 ​ ​ 30,197 Chemical Technologies ​ ​ 79,532 ​ ​ — ​ ​ 9,163 ​ ​ 2,638 ​ ​ 3,523 Other ​ ​ — ​ ​ — ​ ​ (3) ​ ​ — ​ ​ — Eliminations ​ (2,503) ​ — ​ — ​ — ​ — Income from operations ​ ​ ​ ​ ​ 38,337 ​ ​ ​ ​ Corporate ​ — ​ — ​ (21,587) ​ 510 ​ 264 Interest expense, net ​ — ​ — ​ (765) ​ — ​ — Other income, net ​ — ​ — ​ 790 ​ — ​ — ​ ​ $ 389,273 ​ $ 32 ​ $ 16,775 ​ $ 35,162 ​ $ 44,220 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended September 30, 2022 ​ ​ ​ ​ Income Depreciation and Capital ​ ​ Revenue ​ before taxes ​ Amortization ​ Expenditures ​ ​ (in thousands) Water Services ​ $ 264,968 ​ $ 29,308 ​ $ 20,567 ​ $ 15,330 Water Infrastructure ​ ​ 33,018 ​ ​ 5,777 ​ ​ 3,830 ​ ​ 2,543 Chemical Technologies ​ ​ 79,705 ​ ​ 8,657 ​ ​ 2,275 ​ ​ 1,121 Other ​ ​ — ​ ​ (3) ​ ​ — ​ ​ — Eliminations ​ (2,619) ​ — ​ — ​ — Income from operations ​ ​ ​ 43,739 ​ ​ ​ ​ Corporate ​ — ​ (15,307) ​ 543 ​ 527 Interest expense, net ​ — ​ (616) ​ — ​ — Bargain purchase gain ​ ​ — ​ ​ (3,273) ​ ​ — ​ ​ — Other income, net ​ — ​ 668 ​ — ​ — ​ ​ $ 375,072 ​ $ 25,211 ​ $ 27,215 ​ $ 19,521 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the nine months ended September 30, 2023 ​ ​ ​ ​ Impairments and Income Depreciation and Capital ​ ​ Revenue ​ abandonments ​ before taxes ​ Amortization ​ Expenditures ​ ​ (in thousands) Water Services ​ $ 793,484 ​ $ 60 ​ $ 64,046 ​ $ 68,562 ​ $ 43,773 Water Infrastructure ​ ​ 172,495 ​ ​ 388 ​ ​ 28,427 ​ ​ 26,825 ​ ​ 68,392 Chemical Technologies ​ ​ 251,042 ​ ​ 11,106 ​ ​ 19,313 ​ ​ 7,390 ​ ​ 8,672 Other ​ ​ — ​ ​ — ​ ​ (3) ​ ​ — ​ ​ — Eliminations ​ (6,528) ​ — ​ — ​ — ​ — Income from operations ​ ​ ​ ​ ​ 111,783 ​ ​ ​ ​ Corporate ​ — ​ — ​ (57,299) ​ 1,845 ​ 2,356 Interest expense, net ​ — ​ — ​ (4,290) ​ — ​ — Other income, net ​ — ​ — ​ 4,170 ​ — ​ — ​ ​ $ 1,210,493 ​ $ 11,554 ​ $ 54,364 ​ $ 104,622 ​ $ 123,193 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the nine months ended September 30, 2022 ​ ​ ​ ​ Income Depreciation and Capital ​ ​ Revenue ​ before taxes ​ Amortization ​ Expenditures ​ ​ (in thousands) Water Services ​ $ 695,633 ​ $ 49,186 ​ $ 59,185 ​ $ 36,685 Water Infrastructure ​ ​ 84,268 ​ ​ 8,656 ​ ​ 16,013 ​ ​ 16,858 Chemical Technologies ​ ​ 232,120 ​ ​ 18,027 ​ ​ 7,228 ​ ​ 2,017 Other ​ ​ — ​ ​ (111) ​ ​ — ​ ​ — Eliminations ​ (6,277) ​ — ​ — ​ — Income from operations ​ ​ ​ 75,758 ​ ​ ​ ​ Corporate ​ — ​ (43,338) ​ 1,635 ​ 3,031 Interest expense, net ​ — ​ (1,830) ​ — ​ — Bargain purchase gain ​ ​ — ​ ​ 13,768 ​ ​ — ​ ​ — Other income, net ​ — ​ 4,173 ​ — ​ — ​ ​ $ 1,005,744 ​ $ 48,531 ​ $ 84,061 ​ $ 58,591 ​ ​ Total assets by segment as of September 30, 2023 and December 31, 2022, is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ September 30, 2023 December 31, 2022 ​ ​ (in thousands) Water Services ​ $ 660,552 ​ $ 715,113 Water Infrastructure ​ 344,927 ​ 313,736 Chemical Technologies ​ 166,428 ​ 183,469 Other ​ ​ 10,581 ​ ​ 10,535 ​ ​ $ 1,182,488 ​ $ 1,222,853 ​

SUBSEQUENT EVENT

SUBSEQUENT EVENT	9 Months Ended
	Sep. 30, 2023
SUBSEQUENT EVENT
SUBSEQUENT EVENTS	On October 26, 2023, our board of directors declared a quarterly cash dividend of $0.06 per share of Class A common stock, to be paid on November 17, 2023, to holders of record as of the close of business on November 7, 2023. A comparable distribution of $0.06 per unit has also been approved to the unitholders of SES Holdings, LLC, which will be subject to the same payment and record dates. All future dividend payments are subject to quarterly review and approval by Select's board of directors. ​

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2023
SIGNIFICANT ACCOUNTING POLICIES
Use of estimates	Use of estimates : The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. On an ongoing basis, the Company evaluates its estimates, including those related to the recoverability of long-lived assets and intangibles, useful lives used in depreciation and amortization, uncollectible accounts receivable, inventory reserve, income taxes, self-insurance liabilities, share-based compensation, contingent liabilities, lease-related reasonably certain option exercise assessments, and the incremental borrowing rate for leases. The Company bases its estimates on historical and other pertinent information that is believed to be reasonable under the circumstances. The accounting estimates used in the preparation of the consolidated financial statements may change as new events occur, as more experience is acquired, as additional information is obtained and as the Company’s operating environment changes.
Allowance for credit losses	Allowance for credit losses: ​ The change in the allowance for credit losses is as follows: ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, 2023 ​ ​ (in thousands) Balance as of December 31, 2022 ​ $ 4,918 Increase to allowance based on a percentage of revenue ​ 2,420 Adjustment based on aged receivable analysis ​ 1,515 Charge-offs ​ ​ (3,109) Recoveries ​ ​ 18 Balance as of September 30, 2023 ​ $ 5,762
Asset retirement obligations	Asset retirement obligations: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, 2023 ​ (in thousands) Balance as of December 31, 2022 $ 43,576 Accretion expense, included in depreciation and amortization expense ​ 764 Acquired AROs ​ 975 Divested ​ ​ (646) Payments ​ ​ (5,364) Balance as of September 30, 2023 $ 39,305 ​ ​ ​ ​ Short-term ARO liability ​ ​ 5,059 Long-term ARO liability ​ ​ 34,246 Balance as of September 30, 2023 ​ $ 39,305 ​ We review the adequacy of our ARO liabilities whenever indicators suggest that the estimated cash flows underlying the liabilities have changed. The Company’s ARO liabilities are included in accrued expenses and other current liabilities and other long-term liabilities in the accompanying consolidated balance sheets.
Lessor Income	Lessor Income: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ ​ 2023 2022 2023 ​ 2022 ​ ​ ​ (in thousands) Category Classification ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Lessor income Costs of revenue ​ $ 63 ​ $ 74 ​ $ 218 ​ $ 238 Sublease income Lease abandonment costs and Costs of revenue ​ ​ 374 ​ ​ 369 ​ ​ 1,214 ​ ​ 1,076 ​ The Company also generates short-term equipment rental revenue. See “Note 4—Revenue” for a discussion of revenue recognition for the accommodations and rentals business.
Defined Contribution Plan	Defined Contribution Plan:
Recent accounting pronouncements	Recent accounting pronouncements

BUSINESS AND BASIS OF PRESENT_2

BUSINESS AND BASIS OF PRESENTATION (Tables)	9 Months Ended
	Sep. 30, 2023
BUSINESS AND BASIS OF PRESENTATION
Schedule of investments in unconsolidated entities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ​ ​ ​ ​ As of September 30, ​ As of December 31, Type of Investment attained Accounting method Balance Sheet Location ​ 2023 2022 ​ ​ ​ ​ ​ (in thousands) 21% minority interest 2020 Equity-method Other long-term assets, net ​ $ 4,313 ​ $ 4,686 40% minority interest 2021 Equity-method Other long-term assets, net ​ ​ 4,158 ​ ​ 4,985 47% minority interest 2021 Equity-method Other long-term assets, net ​ ​ 3,430 ​ ​ 3,446 ​

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Sep. 30, 2023
SIGNIFICANT ACCOUNTING POLICIES
Schedule of change in allowance for doubtful accounts	​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, 2023 ​ ​ (in thousands) Balance as of December 31, 2022 ​ $ 4,918 Increase to allowance based on a percentage of revenue ​ 2,420 Adjustment based on aged receivable analysis ​ 1,515 Charge-offs ​ ​ (3,109) Recoveries ​ ​ 18 Balance as of September 30, 2023 ​ $ 5,762
Summary of change in asset retirement obligations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, 2023 ​ (in thousands) Balance as of December 31, 2022 $ 43,576 Accretion expense, included in depreciation and amortization expense ​ 764 Acquired AROs ​ 975 Divested ​ ​ (646) Payments ​ ​ (5,364) Balance as of September 30, 2023 $ 39,305 ​ ​ ​ ​ Short-term ARO liability ​ ​ 5,059 Long-term ARO liability ​ ​ 34,246 Balance as of September 30, 2023 ​ $ 39,305
Schedule of financial impact of leases	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ ​ 2023 2022 2023 ​ 2022 ​ ​ ​ (in thousands) Category Classification ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Lessor income Costs of revenue ​ $ 63 ​ $ 74 ​ $ 218 ​ $ 238 Sublease income Lease abandonment costs and Costs of revenue ​ ​ 374 ​ ​ 369 ​ ​ 1,214 ​ ​ 1,076

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	9 Months Ended
	Sep. 30, 2023
Breakwater Energy Services LLC
Schedule of consideration transferred and the estimated fair value of identified assets acquired and liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Purchase price allocation ​ As Reported as of December 31, 2022 ​ Current Period Adjustment ​ Amount Consideration transferred ​ (in thousands) Class A common stock (9,181,144 shares) (1) ​ $ 88,598 ​ $ (410) ​ $ 88,188 Cash paid ​ ​ 16,701 ​ ​ — ​ ​ 16,701 Total consideration transferred ​ 105,299 ​ ​ (410) ​ ​ 104,889 Less: identifiable assets acquired and liabilities assumed ​ ​ ​ ​ ​ ​ ​ ​ Working capital ​ 22,633 ​ ​ (189) ​ ​ 22,444 Property and equipment ​ 78,912 ​ ​ (9,406) ​ ​ 69,506 Right-of-use assets ​ 180 ​ ​ — ​ ​ 180 Customer relationships ​ ​ 35,558 ​ ​ 4,502 ​ ​ 40,060 Other long-term assets ​ ​ 120 ​ ​ — ​ ​ 120 Long-term debt ​ ​ (1,979) ​ ​ — ​ ​ (1,979) Long-term lease liabilities ​ ​ (125) ​ ​ — ​ ​ (125) Noncontrolling interest (2) ​ ​ (30,000) ​ ​ — ​ ​ (30,000) Total identifiable net assets acquired ​ ​ 105,299 ​ ​ (5,093) ​ ​ 100,206 Goodwill ​ — ​ ​ 4,683 ​ ​ 4,683 Fair value allocated to net assets acquired $ 105,299 ​ $ (410) ​ $ 104,889 (1) During the Current Period, the parties agreed that 46,888 shares of Class A common stock would be returned to Select related to working capital adjustments. These shares were cancelled during the Current Period. (2) The noncontrolling interests acquired on November 1, 2022 were subsequently purchased on December 2, 2022, thereby giving the Company 100% ownership of BSRS.
Cypress Environmental Solutions LLC
Schedule of consideration transferred and the estimated fair value of identified assets acquired and liabilities	​ ​ ​ ​ ​ Purchase price allocation ​ As Reported as of March 31, 2023 and December 31, 2022 Consideration transferred ​ (in thousands) Class A common stock (952,753 shares) ​ $ 9,194 Total consideration transferred ​ 9,194 Less: identifiable assets acquired and liabilities assumed ​ ​ Working capital ​ (42) Property and equipment ​ 8,192 Customer relationships ​ ​ 3,894 Long-term ARO ​ ​ (2,850) Total identifiable net assets acquired ​ ​ 9,194 Fair value allocated to net assets acquired $ 9,194 ​

REVENUE (Tables)

REVENUE (Tables)	9 Months Ended
	Sep. 30, 2023
REVENUE
Schedule of disaggregation of revenue by geographic location	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ ​ 2023 2022 ​ 2023 2022 ​ ​ (in thousands) ​ Geographic Region ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Permian Basin ​ $ 190,637 ​ $ 176,357 ​ $ 581,153 ​ $ 462,481 ​ Rockies ​ ​ 61,530 ​ ​ 42,139 ​ ​ 169,475 ​ ​ 113,756 ​ Marcellus/Utica ​ ​ 38,789 ​ ​ 41,160 ​ ​ 123,275 ​ ​ 98,913 ​ Eagle Ford ​ ​ 37,023 ​ ​ 40,213 ​ ​ 130,836 ​ ​ 113,505 ​ Mid-Continent ​ ​ 22,806 ​ ​ 30,758 ​ ​ 76,967 ​ ​ 91,548 ​ Bakken ​ ​ 22,315 ​ ​ 22,567 ​ ​ 71,962 ​ ​ 54,564 ​ Haynesville/E. Texas ​ ​ 18,406 ​ ​ 25,039 ​ ​ 63,495 ​ ​ 77,818 ​ Eliminations and other regions ​ ​ (2,233) ​ ​ (3,161) ​ ​ (6,670) ​ ​ (6,841) ​ Total ​ $ 389,273 ​ $ 375,072 ​ $ 1,210,493 ​ $ 1,005,744 ​

INVENTORIES (Tables)

INVENTORIES (Tables)	9 Months Ended
	Sep. 30, 2023
INVENTORIES
Schedule of inventory	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2023 December 31, 2022 ​ ​ (in thousands) Raw materials ​ $ 29,765 ​ $ 20,518 Finished goods ​ 15,115 ​ 20,646 Total ​ $ 44,880 ​ $ 41,164

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	9 Months Ended
	Sep. 30, 2023
PROPERTY AND EQUIPMENT.
Schedule of property and equipment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2023 December 31, 2022 ​ ​ (in thousands) Machinery and equipment ​ $ 675,327 ​ $ 675,505 Buildings and leasehold improvements ​ 147,091 ​ 145,223 Gathering and disposal infrastructure ​ 89,499 ​ 87,568 Pipelines ​ ​ 72,829 ​ ​ 72,829 Vehicles and equipment ​ 21,600 ​ 27,850 Land ​ ​ 24,678 ​ ​ 24,159 Computer equipment and software ​ ​ 4,188 ​ ​ 6,765 Office furniture and equipment ​ 772 ​ 1,183 Machinery and equipment - finance lease ​ 519 ​ 519 Vehicles and equipment - finance lease ​ 47 ​ 58 Computer equipment and software - finance lease ​ 386 ​ 56 Construction in progress ​ 114,718 ​ 42,290 ​ ​ 1,151,654 ​ 1,084,005 Less accumulated depreciation (1) ​ (628,293) ​ (584,451) Total property and equipment, net ​ $ 523,361 ​ $ 499,554 (1) Includes $0.7 million of accumulated depreciation related to finance leases as of both September 30, 2023 and December 31, 2022.
Schedule of amortization of intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ ​ ​ 2023 2022 ​ 2023 2022 ​ ​ ​ (in thousands) ​ ​ Category ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation expense from property and equipment ​ $ 30,185 ​ $ 24,379 ​ $ 90,578 ​ $ 75,083 ​ ​ Amortization expense from finance leases ​ ​ 60 ​ ​ 5 ​ ​ 69 ​ ​ 106 ​ ​ Amortization expense from intangible assets ​ ​ 4,663 ​ ​ 2,572 ​ ​ 13,211 ​ ​ 8,017 ​ ​ Accretion expense from asset retirement obligations ​ ​ 254 ​ ​ 259 ​ ​ 764 ​ ​ 855 ​ ​ Total depreciation and amortization ​ $ 35,162 ​ $ 27,215 ​ $ 104,622 ​ $ 84,061 ​ ​ ​

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	9 Months Ended
	Sep. 30, 2023
GOODWILL AND OTHER INTANGIBLE ASSETS
Schedule of changes in the carrying amounts of goodwill by reportable segment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Water ​ Water ​ ​ ​ ​ Services Infrastructure Total ​ ​ (in thousands) Balance as of December 31, 2022 ​ $ — ​ $ — ​ $ — Additions ​ ​ 1,438 ​ ​ 3,245 ​ ​ 4,683 Balance as of September 30, 2023 ​ $ 1,438 ​ $ 3,245 ​ $ 4,683
Summary of components of other intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 30, 2023 ​ As of December 31, 2022 ​ Gross ​ Accumulated Net Gross Accumulated Net ​ ​ Value ​ Abandonment ​ Amortization ​ Value ​ Value ​ Amortization ​ Value ​ ​ (in thousands) ​ (in thousands) Definite-lived ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Customer relationships ​ $ 164,600 ​ $ — ​ $ (57,911) ​ $ 106,689 ​ $ 158,232 ​ $ (48,123) ​ $ 110,109 Patents and other intellectual property ​ ​ 12,772 ​ ​ — ​ ​ (6,743) ​ ​ 6,029 ​ ​ 12,772 ​ ​ (5,701) ​ ​ 7,071 Trademarks ​ ​ 14,360 ​ ​ (11,106) ​ ​ (2,278) ​ ​ 976 ​ ​ — ​ ​ — ​ ​ — Other ​ ​ 2,803 ​ ​ — ​ ​ (2,677) ​ ​ 126 ​ 2,803 ​ (2,574) ​ 229 Total definite-lived ​ ​ 194,535 ​ ​ (11,106) ​ ​ (69,609) ​ ​ 113,820 ​ ​ 173,807 ​ ​ (56,398) ​ ​ 117,409 Indefinite-lived ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Water rights ​ ​ 7,031 ​ ​ — ​ ​ — ​ ​ 7,031 ​ ​ 7,031 ​ ​ — ​ ​ 7,031 Trademarks ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 14,360 ​ ​ — ​ ​ 14,360 Total indefinite-lived ​ ​ 7,031 ​ ​ — ​ ​ — ​ ​ 7,031 ​ ​ 21,391 ​ ​ — ​ ​ 21,391 Total other intangible assets, net ​ $ 201,566 ​ $ (11,106) ​ $ (69,609) ​ $ 120,851 ​ $ 195,198 ​ $ (56,398) ​ $ 138,800
Summary of future estimated amortization expense for other intangible assets	​ ​ ​ ​ ​ ​ ​ Amount ​ ​ ​ (in thousands) ​ Remainder of 2023 ​ $ 4,662 ​ Year ending December 31, 2024 ​ 14,676 ​ Year ending December 31, 2025 ​ 14,513 ​ Year ending December 31, 2026 ​ 14,425 ​ Year ending December 31, 2027 ​ 13,923 ​ Thereafter ​ ​ 51,621 ​ Total ​ $ 113,820 ​ ​

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Sep. 30, 2023
DEBT
Summary of Company's leverage ratio	​ ​ ​ ​ ​ ​ ​ ​ Level ​ Average Excess Availability ​ Base Rate Margin ​ SOFR Margin ​ ​ ​ ​ ​ ​ ​ I ​ < 33.33% of the commitments ​ 1.25% ​ 2.25% II ​ < 66.67% of the commitments and ≥ 33.33% of the commitments ​ 1.00% ​ 2.00% III ​ ≥ 66.67% of the commitments ​ 0.75% ​ 1.75%
Schedule of fee Percentage on unused credit facility	​ ​ ​ ​ ​ ​ Level ​ Average Revolver Usage ​ Unused Line Fee Percentage ​ ​ ​ ​ ​ I ​ ≥ 50% of the commitments ​ 0.250% II ​ < 50% of the commitments ​ 0.375%

EQUITY-BASED COMPENSATION (Tabl

EQUITY-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2023
Schedule of equity option activity and related information	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the nine months ended September 30, 2023 ​ ​ ​ ​ ​ ​ ​ Weighted-average ​ ​ ​ ​ ​ ​ ​ Weighted-average ​ Grant Date Value ​ Aggregate Intrinsic ​ Stock Options Exercise Price Term (Years) Value (in thousands) (a) Beginning balance, outstanding 1,666,872 ​ $ 17.10 ​ 4.2 ​ $ 353 Expired ​ (11,920) ​ ​ 29.34 ​ ​ ​ ​ ​ Ending balance, outstanding 1,654,952 ​ $ 17.01 ​ 3.4 ​ $ — Ending balance, exercisable ​ 1,654,952 ​ $ 17.01 ​ 3.4 ​ $ — Nonvested as of September 30, 2023 ​ — ​ $ — ​ ​ ​ ​ ​ ​ (a)
Restricted Stock
Schedule of restricted stock activity	​ ​ ​ ​ ​ ​ ​ ​ ​ For the nine months ended September 30, 2023 ​ ​ ​ ​ Weighted-average ​ Restricted Stock Awards Grant Date Fair Value Nonvested as of December 31, 2022 ​ 4,237,715 ​ $ 7.36 Granted ​ 1,633,849 ​ ​ 7.46 Vested ​ (1,678,652) ​ ​ 7.43 Forfeited ​ (72,363) ​ ​ 7.37 Nonvested as of September 30, 2023 ​ 4,120,549 ​ $ 7.37
Performance share units
Schedule of percentage of target PSUs earned	​ ​ ​ ​ Ranking Among Peer Group ​ Percentage of Target Amount Earned Outside of Top 10 ​ 0% Top 10 ​ 50% Top 7 ​ 100% Top 3 ​ 175% ​ ​ ​ ​ Adjusted FCF Performance Percentage ​ Percentage of Target Amount Earned Less than 70% ​ 0% 70% ​ 50% 100% ​ 100% 130% ​ 175%
Summary of activity related to the units outstanding	​ ​ ​ ​ ​ PSUs Nonvested as of December 31, 2022 ​ 1,860,734 Target shares granted ​ 828,514 Target shares forfeited (1) ​ (711,112) Target shares outstanding as of September 30, 2023 ​ 1,978,136 (1) All PSUs granted in 2020 did not achieve the respective performance targets and were forfeited.

FAIR VALUE MEASUREMENT (Tables)

FAIR VALUE MEASUREMENT (Tables)	9 Months Ended
	Sep. 30, 2023
FAIR VALUE MEASUREMENT
Summary of assets and liabilities measured at fair value on a non-recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Measurements Using ​ Carrying ​ ​ ​ ​ ​ ​ ​ ​ ​ Level 1 ​ Level 2 ​ Level 3 ​ Value (1) ​ Abandonment (2) ​ ​ ​ ​ ​ ​ (in thousands) Nine Months Ended September 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Trademark ​ Non-recurring ​ March 31 ​ $ — ​ $ — ​ $ 2,929 ​ $ 14,360 ​ $ 11,106 (1) Amount represents carrying value at the date of assessment. (2) See “Note 7—Other Intangible Assets” for a discussion of the Trademark abandonment recorded in the Current Period.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Sep. 30, 2023
INCOME TAXES
Summary of components of the federal and state income tax (benefit) expense	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ ​ 2023 ​ 2022 ​ 2023 ​ 2022 ​ ​ (in thousands) Current income tax expense ​ $ 537 ​ $ 284 ​ $ 1,165 ​ $ 729 Deferred income tax benefit ​ ​ (54) ​ ​ (8) ​ ​ (97) ​ ​ (57) Total income tax expense ​ $ 483 ​ $ 276 ​ $ 1,068 ​ $ 672 Effective Tax Rate ​ ​ 2.9% ​ ​ 1.1% ​ ​ 2.0% ​ ​ 1.4%

NONCONTROLLING INTERESTS (Table

NONCONTROLLING INTERESTS (Tables)	9 Months Ended
	Sep. 30, 2023
NONCONTROLLING INTERESTS
Schedule of non controlling interests categories	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ ​ September 30, 2023 December 31, 2022 ​ ​ ​ ​ (in thousands) ​ Noncontrolling interests attributable to joint ventures formed for water-related services ​ ​ $ 1,267 $ 4,167 ​ Noncontrolling interests attributable to holders of Class B common stock ​ ​ ​ 118,511 113,584 ​ Total noncontrolling interests ​ ​ $ 119,778 $ 117,751 ​
Summary of the effects of changes in noncontrolling interests	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, ​ ​ 2023 2022 ​ ​ ​ (in thousands) ​ Net income attributable to Select Water Solutions, Inc. ​ $ 46,808 $ 40,629 ​ Transfers from (to) noncontrolling interests: ​ ​ ​ ​ Increase (decrease) in additional paid-in capital as a result of issuing shares for business combinations ​ ​ 9 (1,356) ​ 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 ​ 1,418 2,166 ​ Increase in additional paid-in capital as a result of the repurchase of SES Holdings LLC Units ​ 88 438 ​ 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 ​ $ 48,323 $ 41,852 ​ ​

INCOME PER SHARE (Tables)

INCOME PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2023
INCOME PER SHARE
Summary of calculation of basic and diluted earnings per share	The following tables present the Company’s calculation of basic and diluted loss per share for the Current and Prior Quarter and the Current and Prior Period (dollars in thousands, except share and per share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, 2023 ​ Three months ended September 30, 2022 ​ ​ Select Water ​ ​ ​ ​ ​ ​ ​ Select Water ​ ​ ​ ​ ​ ​ ​ Solutions, Inc. Class A Class B Solutions, Inc. Class A Class B Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 15,314 ​ ​ ​ ​ ​ ​ ​ $ 24,717 ​ ​ ​ ​ ​ ​ Net income attributable to noncontrolling interests ​ ​ (968) ​ ​ ​ ​ ​ ​ ​ ​ (3,393) ​ ​ ​ ​ ​ ​ Net income attributable to Select Water Solutions, Inc. — basic ​ $ 14,346 ​ $ 14,346 ​ $ — ​ $ 21,324 ​ $ 21,324 ​ $ — Add: Reallocation of net income attributable to noncontrolling interests for the dilutive effect of restricted stock ​ ​ 33 ​ ​ 33 ​ ​ — ​ ​ 30 ​ ​ 30 ​ ​ — Add: Reallocation of net income attributable to noncontrolling interests for the dilutive effect of performance units ​ ​ 17 ​ ​ 17 ​ ​ — ​ ​ 20 ​ ​ 20 ​ ​ — Net income attributable to Select Water Solutions, Inc. — diluted ​ $ 14,396 ​ $ 14,396 ​ $ — ​ $ 21,374 ​ $ 21,374 ​ $ — Denominator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-average shares of common stock outstanding — basic ​ ​ ​ ​ ​ 99,777,776 ​ ​ 16,221,101 ​ ​ ​ ​ ​ 94,014,963 ​ ​ 16,221,101 Dilutive effect of restricted stock ​ ​ ​ ​ ​ 1,636,808 ​ ​ — ​ ​ ​ ​ ​ 893,562 ​ ​ — Dilutive effect of performance share units ​ ​ ​ ​ ​ 839,354 ​ ​ — ​ ​ ​ ​ ​ 611,763 ​ ​ — Dilutive effect of ESPP ​ ​ ​ ​ ​ — ​ ​ — ​ ​ ​ ​ ​ 77 ​ ​ — Weighted-average shares of common stock outstanding — diluted ​ ​ ​ ​ ​ 102,253,938 ​ ​ 16,221,101 ​ ​ ​ ​ ​ 95,520,365 ​ ​ 16,221,101 Income per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic ​ ​ ​ ​ $ 0.14 ​ $ — ​ ​ ​ ​ $ 0.23 ​ $ — Diluted ​ ​ ​ ​ $ 0.14 ​ $ — ​ ​ ​ ​ $ 0.22 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, 2023 ​ Nine months ended September 30, 2022 ​ ​ Select Water ​ ​ ​ ​ ​ ​ ​ Select Water ​ ​ ​ ​ ​ ​ ​ Solutions, Inc. Class A Class B Solutions, Inc. Class A Class B Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 51,580 ​ ​ ​ ​ ​ ​ ​ $ 47,283 ​ ​ ​ ​ ​ ​ Net income attributable to noncontrolling interests ​ ​ (4,772) ​ ​ ​ ​ ​ ​ ​ ​ (6,654) ​ ​ ​ ​ ​ ​ Net income attributable to Select Water Solutions, Inc. — basic ​ $ 46,808 ​ $ 46,808 ​ $ — ​ $ 40,629 ​ $ 40,629 ​ $ — Add: Reallocation of net income attributable to noncontrolling interests for the dilutive effect of restricted stock ​ ​ 76 ​ ​ 76 ​ ​ — ​ ​ 62 ​ ​ 62 ​ ​ — Add: Reallocation of net income attributable to noncontrolling interests for the dilutive effect of performance units ​ ​ 40 ​ ​ 40 ​ ​ — ​ ​ 33 ​ ​ 33 ​ ​ — Net income attributable to Select Water Solutions, Inc. — diluted ​ $ 46,924 ​ $ 46,924 ​ $ — ​ $ 40,724 ​ $ 40,724 ​ $ — Denominator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-average shares of common stock outstanding — basic ​ ​ ​ ​ ​ 102,076,174 ​ ​ 16,221,101 ​ ​ ​ ​ ​ 93,231,711 ​ ​ 16,221,101 Dilutive effect of restricted stock ​ ​ ​ ​ ​ 1,208,009 ​ ​ — ​ ​ ​ ​ ​ 973,378 ​ ​ — Dilutive effect of performance share units ​ ​ ​ ​ ​ 641,706 ​ ​ — ​ ​ ​ ​ ​ 509,336 ​ ​ — Dilutive effect of ESPP ​ ​ ​ ​ ​ — ​ ​ — ​ ​ ​ ​ ​ 234 ​ ​ — Weighted-average shares of common stock outstanding — diluted ​ ​ ​ ​ ​ 103,925,889 ​ ​ 16,221,101 ​ ​ ​ ​ ​ 94,714,659 ​ ​ 16,221,101 Income per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic ​ ​ ​ ​ $ 0.46 ​ $ — ​ ​ ​ ​ $ 0.44 ​ $ — Diluted ​ ​ ​ ​ $ 0.45 ​ $ — ​ ​ ​ ​ $ 0.43 ​ $ — ​

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2023
SEGMENT INFORMATION
Summary of financial information by segment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended September 30, 2023 ​ ​ ​ ​ Impairments and Income Depreciation and Capital ​ ​ Revenue ​ abandonments ​ before taxes ​ Amortization ​ Expenditures ​ ​ (in thousands) Water Services ​ $ 252,488 ​ $ — ​ $ 18,268 ​ $ 22,822 ​ $ 10,236 Water Infrastructure ​ ​ 59,756 ​ ​ 32 ​ ​ 10,909 ​ ​ 9,192 ​ ​ 30,197 Chemical Technologies ​ ​ 79,532 ​ ​ — ​ ​ 9,163 ​ ​ 2,638 ​ ​ 3,523 Other ​ ​ — ​ ​ — ​ ​ (3) ​ ​ — ​ ​ — Eliminations ​ (2,503) ​ — ​ — ​ — ​ — Income from operations ​ ​ ​ ​ ​ 38,337 ​ ​ ​ ​ Corporate ​ — ​ — ​ (21,587) ​ 510 ​ 264 Interest expense, net ​ — ​ — ​ (765) ​ — ​ — Other income, net ​ — ​ — ​ 790 ​ — ​ — ​ ​ $ 389,273 ​ $ 32 ​ $ 16,775 ​ $ 35,162 ​ $ 44,220 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended September 30, 2022 ​ ​ ​ ​ Income Depreciation and Capital ​ ​ Revenue ​ before taxes ​ Amortization ​ Expenditures ​ ​ (in thousands) Water Services ​ $ 264,968 ​ $ 29,308 ​ $ 20,567 ​ $ 15,330 Water Infrastructure ​ ​ 33,018 ​ ​ 5,777 ​ ​ 3,830 ​ ​ 2,543 Chemical Technologies ​ ​ 79,705 ​ ​ 8,657 ​ ​ 2,275 ​ ​ 1,121 Other ​ ​ — ​ ​ (3) ​ ​ — ​ ​ — Eliminations ​ (2,619) ​ — ​ — ​ — Income from operations ​ ​ ​ 43,739 ​ ​ ​ ​ Corporate ​ — ​ (15,307) ​ 543 ​ 527 Interest expense, net ​ — ​ (616) ​ — ​ — Bargain purchase gain ​ ​ — ​ ​ (3,273) ​ ​ — ​ ​ — Other income, net ​ — ​ 668 ​ — ​ — ​ ​ $ 375,072 ​ $ 25,211 ​ $ 27,215 ​ $ 19,521 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the nine months ended September 30, 2023 ​ ​ ​ ​ Impairments and Income Depreciation and Capital ​ ​ Revenue ​ abandonments ​ before taxes ​ Amortization ​ Expenditures ​ ​ (in thousands) Water Services ​ $ 793,484 ​ $ 60 ​ $ 64,046 ​ $ 68,562 ​ $ 43,773 Water Infrastructure ​ ​ 172,495 ​ ​ 388 ​ ​ 28,427 ​ ​ 26,825 ​ ​ 68,392 Chemical Technologies ​ ​ 251,042 ​ ​ 11,106 ​ ​ 19,313 ​ ​ 7,390 ​ ​ 8,672 Other ​ ​ — ​ ​ — ​ ​ (3) ​ ​ — ​ ​ — Eliminations ​ (6,528) ​ — ​ — ​ — ​ — Income from operations ​ ​ ​ ​ ​ 111,783 ​ ​ ​ ​ Corporate ​ — ​ — ​ (57,299) ​ 1,845 ​ 2,356 Interest expense, net ​ — ​ — ​ (4,290) ​ — ​ — Other income, net ​ — ​ — ​ 4,170 ​ — ​ — ​ ​ $ 1,210,493 ​ $ 11,554 ​ $ 54,364 ​ $ 104,622 ​ $ 123,193 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the nine months ended September 30, 2022 ​ ​ ​ ​ Income Depreciation and Capital ​ ​ Revenue ​ before taxes ​ Amortization ​ Expenditures ​ ​ (in thousands) Water Services ​ $ 695,633 ​ $ 49,186 ​ $ 59,185 ​ $ 36,685 Water Infrastructure ​ ​ 84,268 ​ ​ 8,656 ​ ​ 16,013 ​ ​ 16,858 Chemical Technologies ​ ​ 232,120 ​ ​ 18,027 ​ ​ 7,228 ​ ​ 2,017 Other ​ ​ — ​ ​ (111) ​ ​ — ​ ​ — Eliminations ​ (6,277) ​ — ​ — ​ — Income from operations ​ ​ ​ 75,758 ​ ​ ​ ​ Corporate ​ — ​ (43,338) ​ 1,635 ​ 3,031 Interest expense, net ​ — ​ (1,830) ​ — ​ — Bargain purchase gain ​ ​ — ​ ​ 13,768 ​ ​ — ​ ​ — Other income, net ​ — ​ 4,173 ​ — ​ — ​ ​ $ 1,005,744 ​ $ 48,531 ​ $ 84,061 ​ $ 58,591
Revenue from External Customers by Products and Services	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ September 30, 2023 December 31, 2022 ​ ​ (in thousands) Water Services ​ $ 660,552 ​ $ 715,113 Water Infrastructure ​ 344,927 ​ 313,736 Chemical Technologies ​ 166,428 ​ 183,469 Other ​ ​ 10,581 ​ ​ 10,535 ​ ​ $ 1,182,488 ​ $ 1,222,853 ​

BUSINESS AND BASIS OF PRESENT_3

BUSINESS AND BASIS OF PRESENTATION (Details) $ / shares in Units, $ in Thousands		3 Months Ended	9 Months Ended
	Feb. 23, 2022	Sep. 30, 2023 USD ($) $ / shares	Sep. 30, 2023 USD ($) Vote item segment $ / shares	Dec. 31, 2022 $ / shares
Number of vote per share | Vote			1
Number of equity method investee | item			3
Number of operating segments | segment			3
Ratio			1
Reduction of additional paid-in capital			$ 15,300
Distributions to noncontrolling interests, net			1,581
Reduction of accrued interest and other current liabilities		$ 200	200
Dividends payable		$ 600	$ 600
Class A common stock
Par value | $ / shares		$ 0.01	$ 0.01	$ 0.01
Ratio	1
Dividends		$ 4,987	$ 15,287
Class B common stock
Par value | $ / shares		$ 0.01	$ 0.01	$ 0.01
Dividends		$ 811	$ 2,433

BUSINESS AND BASIS OF PRESENT_4

BUSINESS AND BASIS OF PRESENTATION - Investments in Unconsolidated (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Investment in Joint Venture One
Percentage of interest in a joint venture	21%
Investment in Joint Venture One | Other long-term assets, net
Equity method investment	$ 4,313	$ 4,686
Investment in Joint Venture Two
Percentage of interest in a joint venture	40%
Investment in Joint Venture Two | Other long-term assets, net
Equity method investment	$ 4,158	4,985
Investment In Joint Venture Three
Percentage of interest in a joint venture	47%
Investment In Joint Venture Three | Other long-term assets, net
Equity method investment	$ 3,430	$ 3,446

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES - Allowance activity (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of the period	$ 4,918
Increase to allowance based on a percentage of revenue	2,420
Adjustment based on aged receivable analysis	1,515
Charge-offs	(3,109)
Recoveries	18
Balance at end of the period	$ 5,762

SIGNIFICANT ACCOUNTING POLICI_5

SIGNIFICANT ACCOUNTING POLICIES - Asset retirement obligations and Lessor Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Balance at beginning of period			$ 43,576
Accretion expense, included in depreciation and amortization expense			764
Acquired AROs			975
Divested			(646)
Payments			(5,364)
Balance at end of period	$ 39,305		39,305
Short-term ARO liability	5,059		5,059
Long-term ARO liability	34,246		34,246
Lessor Income
Lessor income	63	$ 74	218	$ 238
Sublease income	$ 374	$ 369	$ 1,214	$ 1,076

SIGNIFICANT ACCOUNTING POLICI_6

SIGNIFICANT ACCOUNTING POLICIES - Defined Contribution Plan and Payroll Tax Deferral (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Employee benefit plans
401(k) match expense	$ 1.3	$ 0.5	$ 4.4	$ 1.7

ACQUISITION - Asset Acquisition

ACQUISITION - Asset Acquisition (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Asset Acquisition [Line Items]
Property and equipment, net	$ 523,361	$ 499,554
Other intangible assets, net	120,851	138,800
Asset retirement obligation	39,305	43,576
Inventories	44,880	$ 41,164
Asset Acquisition
Asset Acquisition [Line Items]
Acquisition costs	13,400
Transaction cots	200
Property and equipment, net	11,600
Asset retirement obligation	1,100
Inventories	1,000
Asset Acquisition | Customer relationships
Asset Acquisition [Line Items]
Other intangible assets, net	$ 1,900

ACQUISITIONS - Breakwater Acqui

ACQUISITIONS - Breakwater Acquisition (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended		12 Months Ended
	Nov. 01, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Dec. 02, 2022
Less: identifiable assets acquired and liabilities assumed
Goodwill		$ 4,683		$ 4,683
Big Spring Recycling System
Less: identifiable assets acquired and liabilities assumed
Noncontrolling Interest							100%
Breakwater Energy Services LLC
Business Acquisition [Line Items]
Change-of-control payments	$ 3,800
Transaction-related costs		100	$ 100	1,800	$ 100
Transaction cots	2,400
Consideration transferred
Cash paid				16,701		$ 16,701
Total consideration transferred	$ 105,300			104,889		105,299
Less: identifiable assets acquired and liabilities assumed
Working capital		22,444		22,444		22,633
Property and equipment		69,506		69,506		78,912
Right-of-use assets		180		180		180
Customer relationships		40,060		40,060		35,558
Other long-term assets		120		120		120
Long-term debt		(1,979)		(1,979)		(1,979)
Long-term lease liabilities		(125)		(125)		(125)
Noncontrolling interest		(30,000)		(30,000)		(30,000)
Total identifiable net assets acquired		100,206		100,206		105,299
Goodwill		4,683		4,683
Fair value allocated to net assets acquired		104,889		104,889		$ 105,299
Breakwater Energy Services LLC | Restatement Adjustment
Consideration transferred
Total consideration transferred				(410)
Less: identifiable assets acquired and liabilities assumed
Working capital		(189)		(189)
Property and equipment		(9,406)		(9,406)
Customer relationships		4,502		4,502
Total identifiable net assets acquired		(5,093)		(5,093)
Goodwill		4,683		4,683
Fair value allocated to net assets acquired		$ (410)		(410)
Breakwater Energy Services LLC | Class A common stock
Business Acquisition [Line Items]
Number of shares issued in acquisition	9,181,144					9,181,144
Debt paid off amount	$ 10,500
Consideration transferred
Common stock issued				$ 88,188		$ 88,598
Less: identifiable assets acquired and liabilities assumed
Number of shares of equity interests issued to acquire				46,888
Breakwater Energy Services LLC | Class A common stock | Restatement Adjustment
Consideration transferred
Common stock issued				$ (410)

ACQUISITION - Cypress Acquisiti

ACQUISITION - Cypress Acquisition (Details) - Cypress Environmental Solutions LLC $ in Thousands		3 Months Ended		9 Months Ended	12 Months Ended
	Nov. 01, 2022 USD ($) item shares bbl	Sep. 30, 2023 USD ($)	Mar. 31, 2023 USD ($) shares	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($) shares
Business Acquisition [Line Items]
Transaction-related costs		$ 0		$ 100
Number of saltwater disposal facilities acquired | item	8
Water related asset, production capacity acquired | bbl	85,000
Consideration transferred
Total consideration transferred	$ 9,200
As Reported
Consideration transferred
Total consideration transferred			$ 9,194		$ 9,194
Less: identifiable assets acquired and liabilities assumed
Working capital			(42)		(42)
Property and equipment			8,192		8,192
Customer relationships			3,894		3,894
Long-term ARO			(2,850)		(2,850)
Total identifiable net assets acquired			9,194		9,194
Fair value allocated to net assets acquired			$ 9,194		$ 9,194
Class A common stock
Consideration transferred
Number of shares issued in acquisition | shares	952,753		952,753		952,753
Class A common stock | As Reported
Consideration transferred
Common stock issued			$ 9,194		$ 9,194

REVENUE (Details)

REVENUE (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($) item	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) region item segment	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
REVENUE
Number of reportable segments | segment			3
Contract liability	$ 0		$ 0		$ 0
Revenue	$ 389,273	$ 375,072	$ 1,210,493	$ 1,005,744
Number of long-term contracts | item	14		14
Accommodations and rentals | ASC 842
REVENUE
Revenue	$ 19,500	21,100	$ 63,300	54,300
Permian Basin
REVENUE
Revenue	190,637	176,357	581,153	462,481
Rockies
REVENUE
Revenue	61,530	42,139	169,475	113,756
Marcellus/Utica
REVENUE
Revenue	38,789	41,160	123,275	98,913
Eagle Ford
REVENUE
Revenue	37,023	40,213	130,836	113,505
Mid-Continent
REVENUE
Revenue	22,806	30,758	76,967	91,548
Bakken
REVENUE
Revenue	22,315	22,567	71,962	54,564
Haynesville/E. Texas
REVENUE
Revenue	18,406	25,039	63,495	77,818
Eliminations and other regions
REVENUE
Revenue	$ (2,233)	$ (3,161)	$ (6,670)	$ (6,841)
Permian Basin, Marcellus/Utica and Rockies | Water Services
REVENUE
Number of revenue producing regions | region			3
Percentage of revenue	71%	68%	69%	69%
Permian Basin, Haynesville and Rockies | Water Infrastructure
REVENUE
Number of revenue producing regions | region			3
Percentage of revenue	81%	70%	78%	69%
Permian Basin, Rockies and Eagle Ford | Oilfield Chemicals
REVENUE
Number of revenue producing regions | region			3
Percentage of revenue	92%	85%	90%	74%

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Significant components of inventory
Raw materials	$ 29,765		$ 29,765		$ 20,518
Finished goods	15,115		15,115		20,646
Total	44,880		44,880		41,164
Inventory adjustments	100	$ (800)	557	$ (612)
Inventory valuation reserves	$ 3,700		$ 3,700		$ 3,100

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Property and equipment
Property and equipment	$ 1,151,654		$ 1,151,654		$ 1,084,005
Less accumulated depreciation	(628,293)		(628,293)		(584,451)
Total property and equipment, net	523,361		523,361		499,554
Accumulated depreciation related to finance leases	700		700		700
Depreciation and amortization expense
Depreciation expense from property and equipment	30,185	$ 24,379	90,578	$ 75,083
Amortization expense from finance lease	60	5	69	106
Amortization expense from intangible assets	4,663	2,572	13,211	8,017
Accretion expense from asset retirement obligations	254	259	764	855
Total depreciation and amortization	35,162	$ 27,215	104,622	$ 84,061
Machinery and equipment
Property and equipment
Property and equipment	675,327		675,327		675,505
Buildings and leasehold improvements
Property and equipment
Property and equipment	147,091		147,091		145,223
Gathering and disposal infrastructure
Property and equipment
Property and equipment	89,499		89,499		87,568
Pipelines
Property and equipment
Property and equipment	72,829		72,829		72,829
Vehicles and equipment
Property and equipment
Property and equipment	21,600		21,600		27,850
Land
Property and equipment
Property and equipment	24,678		24,678		24,159
Computer equipment and software
Property and equipment
Property and equipment	4,188		4,188		6,765
Office furniture and equipment
Property and equipment
Property and equipment	772		772		1,183
Machinery and equipment - finance lease
Property and equipment
Property and equipment	519		519		519
Vehicles and equipment - finance lease
Property and equipment
Property and equipment	47		47		58
Computer equipment and software - finance lease
Property and equipment
Property and equipment	386		386		56
Construction in progress
Property and equipment
Property and equipment	$ 114,718		$ 114,718		$ 42,290

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS - Changes in the Carrying Amounts of Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Goodwill
Goodwill	$ 4,683
Additions	4,683
Balance at the end of the period	4,683
Breakwater Energy Services LLC
Goodwill
Goodwill	4,683
Balance at the end of the period	4,683
Water Services
Goodwill
Goodwill	1,438
Additions	1,438
Balance at the end of the period	1,438
Water Infrastructure
Goodwill
Goodwill	3,245
Additions	3,245
Balance at the end of the period	$ 3,245

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS - Other Intangible Assets (Details) - USD ($) $ in Thousands		9 Months Ended
	Feb. 21, 2023	Sep. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Value, definite-lived		$ 194,535	$ 173,807
Abandonment		(11,106)
Accumulated Amortization, definite-lived		(69,609)	(56,398)
Total		113,820	117,409
Gross Value, Indefinite-lived		7,031	21,391
Net Value, Indefinite-lived		7,031	21,391
Intangible Assets, Gross (Excluding Goodwill)		201,566	195,198
Intangible Assets, Net (Excluding Goodwill)		120,851	138,800
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Value, definite-lived		164,600	158,232
Accumulated Amortization, definite-lived		(57,911)	(48,123)
Total		$ 106,689	110,109
Weighted average amortization period		9 years 3 months 18 days
Patents and other intellectual property
Finite-Lived Intangible Assets [Line Items]
Gross Value, definite-lived		$ 12,772	12,772
Accumulated Amortization, definite-lived		(6,743)	(5,701)
Total		$ 6,029	7,071
Weighted average amortization period		4 years 9 months 18 days
Other intangible assets
Finite-Lived Intangible Assets [Line Items]
Gross Value, definite-lived		$ 2,803	2,803
Accumulated Amortization, definite-lived		(2,677)	(2,574)
Total		$ 126	229
Weighted average amortization period		10 months 24 days
Trademarks
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period		3 months 18 days
Water rights
Finite-Lived Intangible Assets [Line Items]
Gross Value, Indefinite-lived		$ 7,031	7,031
Net Value, Indefinite-lived		$ 7,031	7,031
Water rights | Minimum
Finite-Lived Intangible Assets [Line Items]
Renewal term		5 years
Water rights | Maximum
Finite-Lived Intangible Assets [Line Items]
Renewal term		10 years
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Value, definite-lived		$ 14,360
Abandonment		(11,106)
Accumulated Amortization, definite-lived		(2,278)
Total		$ 976
Gross Value, Indefinite-lived			14,360
Net Value, Indefinite-lived			$ 14,360
Trademarks | Oilfield Chemicals Segment
Finite-Lived Intangible Assets [Line Items]
Abandonment	$ (11,100)
Trademarks | Minimum
Finite-Lived Intangible Assets [Line Items]
Renewal term		5 years
Trademarks | Maximum
Finite-Lived Intangible Assets [Line Items]
Renewal term		10 years

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLE ASSETS - Annual Amortization of Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Annual amortization of intangible assets
Remainder of 2023	$ 4,662
Year ending December 31, 2024	14,676
Year ending December 31, 2025	14,513
Year ending December 31, 2026	14,425
Year ending December 31, 2027	13,923
Thereafter	51,621
Total	$ 113,820	$ 117,409

DEBT (Details)

DEBT (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 17, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
DEBT
Variable interest rate (as a percent)	2.50%
Unused line fee (as a percent)	0.50%
Reduction in borrowing capacity						$ 22,900
Debt issuance costs					$ 2,144
Amortization of debt issuance costs		$ 100	$ 100	$ 366	$ 539
Average excess availability, less than 33% of the commitments | Base Rate Advances
DEBT
Variable interest rate (as a percent)		1.25%		1.25%
Average excess availability, less than 33% of the commitments | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
DEBT
Variable interest rate (as a percent)		2.25%		2.25%
Average excess availability, less than 66.67% of the commitments and more than or equal to 33.33% of the commitments | Base Rate Advances
DEBT
Variable interest rate (as a percent)		1%		1%
Average excess availability, less than 66.67% of the commitments and more than or equal to 33.33% of the commitments | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
DEBT
Variable interest rate (as a percent)		2%		2%
Average excess availability, more than or equal to 66.67% of the commitments | Base Rate Advances
DEBT
Variable interest rate (as a percent)		0.75%		0.75%
Average excess availability, more than or equal to 66.67% of the commitments | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
DEBT
Variable interest rate (as a percent)		1.75%		1.75%
Average excess availability more than or equal to fifty percent
DEBT
Unused line fee (as a percent)				0.25%
Average excess availability less than fifty percent
DEBT
Unused line fee (as a percent)				0.375%
Eligible unbilled receivables
DEBT
Borrowing base (as a percent)	75%
Revolving line of credit
DEBT
Maximum borrowing capacity	$ 270,000
Revolving line of credit | Letter of credit
DEBT
Maximum borrowing capacity		$ 238,800		$ 238,800
Senior secured credit facility
DEBT
Maximum borrowing capacity						245,000
Additional borrowing capacity	$ 135,000
Percentage of borrowing base allowed	35%
Margin (as a percent)	2%
Reduction in borrowing capacity		14,800		14,800
Unused portion of available borrowing		224,000		224,000
Debt issuance costs						2,100
Debt outstanding		0		0		16,000
Unamortized Debt issuance Costs		$ 1,700		$ 1,700		$ 2,100
Senior secured credit facility | Minimum
DEBT
Percentage of borrowing base allowed	30%
Variable interest rate (as a percent)		1.75%		1.75%
Senior secured credit facility | Maximum
DEBT
Variable interest rate (as a percent)		2.25%		2.25%
Senior secured credit facility | Base Rate Advances | Minimum
DEBT
Margin (as a percent)	0.75%
Senior secured credit facility | Base Rate Advances | Maximum
DEBT
Margin (as a percent)	1.25%
Senior secured credit facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
DEBT
Margin (as a percent)	1%
Senior secured credit facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | Minimum
DEBT
Margin (as a percent)	1.75%
Senior secured credit facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | Maximum
DEBT
Margin (as a percent)	2.25%
Senior secured credit facility | Federal Funds Rate
DEBT
Margin (as a percent)	0.50%
Senior secured credit facility | Eligible billed receivables
DEBT
Borrowing base (as a percent)	85%
Senior secured credit facility | Eligible inventory
DEBT
Borrowing base (as a percent)	70%
Senior secured credit facility | Net recovery percentage
DEBT
Borrowing base (as a percent)	85%
Senior secured credit facility | Criteria for distributions, scenario one
DEBT
Lookback period	30 days
Percentage outstanding	25%
Base amount	$ 33,750
Senior secured credit facility | Criteria for distributions, scenario two
DEBT
Lookback period	30 days
Percentage outstanding	20%
Base amount	$ 27,000
Fixed charge coverage ratio	1%
Senior secured credit facility | Coverage Ratio Criteria
DEBT
Lookback period	60 days
Percentage outstanding	10%
Base amount	$ 15,000
Fixed charge coverage ratio	1%
Senior secured credit facility | Letter of credit
DEBT
Maximum borrowing capacity	$ 40,000
Senior secured credit facility | Swingline loan
DEBT
Maximum borrowing capacity	$ 27,000

EQUITY-BASED COMPENSATION (Deta

EQUITY-BASED COMPENSATION (Details)			9 Months Ended
	Feb. 23, 2022 shares	Dec. 20, 2016 shares	Sep. 30, 2023 shares	May 08, 2020 shares	Nov. 01, 2017 shares
EQUITY-BASED COMPENSATION
Ratio			1
Class A common stock
EQUITY-BASED COMPENSATION
Ratio	1
Class A-1 Common Stock | Private Placement
EQUITY-BASED COMPENSATION
Shares issued		16,100,000
Nuverra
EQUITY-BASED COMPENSATION
Number of shares converted	1
Nuverra | Class A common stock
EQUITY-BASED COMPENSATION
Conversion of common stock for resale	0.2551
2016 plan
EQUITY-BASED COMPENSATION
Maximum number of shares					13,300,000
Number of shares available for grant			1,600,000
2016 plan | Maximum
EQUITY-BASED COMPENSATION
Equity options term			10 years
Second Amendment to the 2016 Plan | Class A common stock
EQUITY-BASED COMPENSATION
Maximum number of shares				4,000,000
2017 Plan | Class A common stock
EQUITY-BASED COMPENSATION
Ratio	1
Number of shares available for grant			55,769
2017 Plan | Nuverra
EQUITY-BASED COMPENSATION
Maximum number of shares	1,772,058
2017 Plan | Nuverra | Class A common stock
EQUITY-BASED COMPENSATION
Number of shares available for grant	131,110
2018 Plan | Class A common stock
EQUITY-BASED COMPENSATION
Ratio	1
Number of shares available for grant			14,736
2018 Plan | Nuverra | Class A common stock
EQUITY-BASED COMPENSATION
Number of shares available for grant	24,984
Restricted Stock Awards | 2018 Plan | Nuverra
EQUITY-BASED COMPENSATION
Maximum number of shares	100,000

EQUITY-BASED COMPENSATION - Equ

EQUITY-BASED COMPENSATION - Equity Options Changed During Period (Details) - Employee Stock Option [Member] - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Equity Options
Beginning balance (in shares)	1,666,872
Granted (in shares)	0
Expired (in shares)	(11,920)
Ending balance (in shares)	1,654,952	1,666,872
Ending balance, exercisable (in shares)	1,654,952
Weighted-average Exercise Price
Beginning balance (in dollars per share)	$ 17.10
Expired (in dollars per share)	29.34
Ending balance (in dollars per share)	17.01	$ 17.10
Ending balance, exercisable	$ 17.01
Weighted-average Remaining Contractual Term (Years)
Outstanding	3 years 4 months 24 days	4 years 2 months 12 days
Ending balance, exercisable	3 years 4 months 24 days
Aggregate Intrinsic Value
Beginning balance, outstanding	$ 353
Ending balance, outstanding		$ 353

EQUITY-BASED COMPENSATION - E_2

EQUITY-BASED COMPENSATION - Equity Options (Details) - $ / shares	Sep. 30, 2023	Dec. 31, 2022
Class A common stock | Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Price	$ 7.95	$ 9.24

EQUITY-BASED COMPENSATION - Res

EQUITY-BASED COMPENSATION - Restricted stock (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Restricted Stock
EQUITY-BASED COMPENSATION
Offering period			3 years
Restricted Stock Awards
EQUITY-BASED COMPENSATION
Compensation expense	$ 4.2	$ 3.7	$ 12.3	$ 10.3
Unrecognized compensation expense	$ 18.5		$ 18.5
Weighted-average remaining life			1 year 8 months 12 days
Restricted stock
Beginning balance (in shares)			4,237,715
Granted (in shares)			1,633,849
Vested (in shares)			(1,678,652)
Forfeited (in shares)			(72,363)
Ending balance (in shares)	4,120,549		4,120,549
Grant Date Fair Value
Beginning balance (in dollars per share)			$ 7.36
Granted (in dollars per share)			7.46
Vested (in dollars per share)			7.43
Forfeited (in dollars per share)			7.37
Ending balance (in dollars per share)	$ 7.37		$ 7.37

EQUITY-BASED COMPENSATION - Per

EQUITY-BASED COMPENSATION - Performance share units (Details) - Performance share units $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) item	Sep. 30, 2022 USD ($) item	Sep. 30, 2021 USD ($) item
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of times shares issued for each performance share settlement | item			1	1	1
Grant date fair value of PSUs			$ 5.3	$ 5	$ 4.4
Compensation expense	$ 0.8	$ 0.1	0.5	$ 0.7
Unrecognized compensation expense	$ 6.2		$ 6.2
Weighted-average remaining life			2 years 1 month 6 days
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of Target PSUs that can be earned			0%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of Target PSUs that can be earned			1.75%
Peer Group Outside of Top 10
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of Target Amount Earned			0%
Peer Group Top 10
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of Target Amount Earned			50%
Peer Group Top 7
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of Target Amount Earned			100%
Peer Group Top 3
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of Target Amount Earned			175%
Adjusted FCF Performance Percentage Less than 70%
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of Target Amount Earned			0%
Adjusted FCF Performance Percentage 70%
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of Target Amount Earned			50%
Adjusted FCF Performance Percentage 100%
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of Target Amount Earned			100%
Adjusted FCF Performance Percentage 130%
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of Target Amount Earned			175%

EQUITY-BASED COMPENSATION - P_2

EQUITY-BASED COMPENSATION - Performance share units outstanding (Details) - Performance share units	9 Months Ended
	Sep. 30, 2023 shares
Performance share units
Beginning balance (in shares)	1,860,734
Target shares granted	828,514
Target shares forfeited	(711,112)
Ending balance (in shares)	1,978,136

EQUITY-BASED COMPENSATION - Emp

EQUITY-BASED COMPENSATION - Employee Stock Purchase Plan (ESPP) (Details)	9 Months Ended
	Sep. 30, 2023
Minimum | ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee service period	1 year

EQUITY-BASED COMPENSATION - Sha

EQUITY-BASED COMPENSATION - Share-repurchases (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Decrease in paid-in capital	$ 275,000	$ 271,000	$ 49,905,000	$ 20,575,000
Class A common stock | 2016 plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares repurchased in open market			6,487,490	2,297,985
Number of shares repurchased with employee minimum tax withholding requirements	33,525	40,060	496,885	496,998
Decrease in paid-in capital	$ 300,000		$ 49,800,000
Class A common stock | 2016 plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Decrease in Class A common stock	$ 1,000		$ 70,000

FAIR VALUE MEASUREMENT (Details

FAIR VALUE MEASUREMENT (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Transfers into or out of all levels of the fair value hierarchy	$ 0	$ 0
Nonrecurring | March 31
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Abandonments	11,106
Nonrecurring | March 31 | Carrying value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trademark	14,360
Level 3 | Nonrecurring | March 31 | Fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trademark	$ 2,929

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
	Jun. 23, 2023	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Minimum | Related Parties
RELATED PARTY TRANSACTIONS
Beneficial ownership (as a percent)		5%		5%
Related Party
RELATED PARTY TRANSACTIONS
Revenue			$ 0.5	$ 0.4	$ 1.6
Purchases from related party vendors		$ 4.1	3.3	12.6	8.8
Related Party | Maximum
RELATED PARTY TRANSACTIONS
Revenue		0.1
Tax Receivable Agreement | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
RELATED PARTY TRANSACTIONS
Basis points	0.7513%
Property and equipment | Related Party
RELATED PARTY TRANSACTIONS
Purchases from related party vendors		0.6		2.4
Property and equipment, inventory and consumables | Related Party
RELATED PARTY TRANSACTIONS
Purchases from related party vendors			0.1		0.4
Inventory and consumables | Related Party
RELATED PARTY TRANSACTIONS
Purchases from related party vendors				0.1
Rent of certain equipment or other services | Related Party
RELATED PARTY TRANSACTIONS
Purchases from related party vendors		3.1	2.9	9.2	7.4
Management, consulting and other services | Related Party
RELATED PARTY TRANSACTIONS
Purchases from related party vendors		$ 0.4	$ 0.3	$ 0.9	$ 1
Legacy Owner Holdco and Crestview GP | Tax Receivable Agreement
RELATED PARTY TRANSACTIONS
Percentage of net tax savings for payment to TRA Holders				85%

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
INCOME TAXES
Current income tax expense	$ 537	$ 284	$ 1,165	$ 729
Deferred income tax benefit	(54)	(8)	(97)	(57)
Total income tax expense	$ 483	$ 276	$ 1,068	$ 672
Effective Tax Rate (as percent)	2.90%	1.10%	2%	1.40%
Statutory tax rate (as a percent)			21%

NONCONTROLLING INTERESTS (Detai

NONCONTROLLING INTERESTS (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
NONCONTROLLING INTERESTS
Noncontrolling interests attributable to joint ventures formed for water-related services	$ 1,267	$ 4,167
Noncontrolling interests attributable to holders of Class B common stock	118,511	113,584
Total noncontrolling interests	$ 119,778	$ 117,751

NONCONTROLLING INTERESTS - Effe

NONCONTROLLING INTERESTS - Effect of Changes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Effects of changes in noncontrolling interests on equity
Net income attributable to Select Water Solutions, Inc.	$ 14,346	$ 21,324	$ 46,808	$ 40,629
Transfers from (to) noncontrolling interests:
Increase (decrease) in additional paid-in capital as a result of issuing shares for business combinations			9	(1,356)
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			1,418	2,166
Increase in additional paid-in capital as a result of the repurchase of SES Holdings LLC Units			88	438
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			48,323	$ 41,852
SES Holdings, LLC
Transfers from (to) noncontrolling interests:
Cash consideration from minority interest			6,000
Reduction to noncontrolling interest			$ 1,600

INCOME PER SHARE (Details)

INCOME PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Calculation of basic and diluted earnings per share:
Antidilutive shares	1,654,952	1,677,927	1,654,952	1,677,927
Net income	$ 15,314	$ 24,717	$ 51,580	$ 47,283
Net income attributable to noncontrolling interests	(968)	(3,393)	(4,772)	(6,654)
Net income attributable to Select Water Solutions, Inc.	14,346	21,324	46,808	40,629
Add: Reallocation of net loss attributable to noncontrolling interests for the dilutive effect of restricted stock	33	30	76	62
Add: Reallocation of net income attributable to noncontrolling interests for the dilutive effect of performance units	17	20	40	33
Net income attributable to Select Water Solutions, Inc. - diluted	14,396	21,374	46,924	40,724
Class A common stock
Calculation of basic and diluted earnings per share:
Net income attributable to Select Water Solutions, Inc.	14,346	21,324	46,808	40,629
Add: Reallocation of net loss attributable to noncontrolling interests for the dilutive effect of restricted stock	33	30	76	62
Add: Reallocation of net income attributable to noncontrolling interests for the dilutive effect of performance units	17	20	40	33
Net income attributable to Select Water Solutions, Inc. - diluted	$ 14,396	$ 21,374	$ 46,924	$ 40,724
Weighted-average shares of common stock outstanding - basic	99,777,776	94,014,963	102,076,174	93,231,711
Weighted-average shares of common stock outstanding - diluted	102,253,938	95,520,365	103,925,889	94,714,659
Income per share, Basic (in dollars per share)	$ 0.14	$ 0.23	$ 0.46	$ 0.44
Income per share, Diluted (in dollars per share)	$ 0.14	$ 0.22	$ 0.45	$ 0.43
Class A common stock | Restricted Stock
Calculation of basic and diluted earnings per share:
Dilutive effect	1,636,808	893,562	1,208,009	973,378
Class A common stock | Performance share units
Calculation of basic and diluted earnings per share:
Dilutive effect	839,354	611,763	641,706	509,336
Class A common stock | ESPP
Calculation of basic and diluted earnings per share:
Dilutive effect		77		234
Class B common stock
Calculation of basic and diluted earnings per share:
Weighted-average shares of common stock outstanding - basic	16,221,101	16,221,101	16,221,101	16,221,101
Weighted-average shares of common stock outstanding - diluted	16,221,101	16,221,101	16,221,101	16,221,101

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) segment	Sep. 30, 2022 USD ($)
SEGMENT INFORMATION
Number of reportable segments | segment			3
Segment information
Revenue	$ 389,273	$ 375,072	$ 1,210,493	$ 1,005,744
Impairments and abandonments	32		11,554
Income before taxes	16,775	25,211	54,364	48,531
Depreciation and Amortization	35,162	27,215	104,622	84,061
Capital Expenditures	44,220	19,521	123,193	58,591
Income from operations	16,750	28,432	54,484	32,420
Bargain purchase gain		(3,273)		13,768
Operating segment | Water Services
Segment information
Revenue	252,488	264,968	793,484	695,633
Impairments and abandonments			60
Income before taxes	18,268	29,308	64,046	49,186
Depreciation and Amortization	22,822	20,567	68,562	59,185
Capital Expenditures	10,236	15,330	43,773	36,685
Operating segment | Water Infrastructure
Segment information
Revenue	59,756	33,018	172,495	84,268
Impairments and abandonments	32		388
Income before taxes	10,909	5,777	28,427	8,656
Depreciation and Amortization	9,192	3,830	26,825	16,013
Capital Expenditures	30,197	2,543	68,392	16,858
Operating segment | Chemical Technologies
Segment information
Revenue	79,532	79,705	251,042	232,120
Impairments and abandonments			11,106
Income before taxes	9,163	8,657	19,313	18,027
Depreciation and Amortization	2,638	2,275	7,390	7,228
Capital Expenditures	3,523	1,121	8,672	2,017
Operating segment | Other
Segment information
Income before taxes	(3)	(3)	(3)	(111)
Eliminations
Segment information
Revenue	(2,503)	(2,619)	(6,528)	(6,277)
Corporate or Other
Segment information
Income before taxes	(21,587)	(15,307)	(57,299)	(43,338)
Depreciation and Amortization	510	543	1,845	1,635
Capital Expenditures	264	527	2,356	3,031
Material reconciling items
Segment information
Income from operations	38,337	43,739	111,783	75,758
Interest expense, net	(765)	(616)	(4,290)	(1,830)
Other income, net	$ 790	$ 668	$ 4,170	$ 4,173

SEGMENT INFORMATION - Total Ass

SEGMENT INFORMATION - Total Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Assets	$ 1,182,488	$ 1,222,853
Operating segment | Water Services
Segment Reporting Information [Line Items]
Assets	660,552	715,113
Operating segment | Water Infrastructure
Segment Reporting Information [Line Items]
Assets	344,927	313,736
Operating segment | Chemical Technologies
Segment Reporting Information [Line Items]
Assets	166,428	183,469
Corporate or Other
Segment Reporting Information [Line Items]
Assets	$ 10,581	$ 10,535

SUBSEQUENT EVENT (Details)

SUBSEQUENT EVENT (Details) - Subsequent Event	Oct. 26, 2023 $ / shares
SES Holdings, LLC
Subsequent Events
Cash Dividend declared per share	$ 0.06
Class A common stock
Subsequent Events
Cash Dividend declared per share	$ 0.06

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 14,346	$ 21,324	$ 46,808	$ 40,629

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false