NET INCOME (LOSS) PER SHARE (Tables)

3 Months Ended

Mar. 31, 2019

The computation of basic and diluted net income (loss) per share for the periods presented in the consolidated financial statements is shown in the table below.



	Three Months Ended March 31,
	2019		2018⁽¹⁾
	(In thousands, except per share data)
Net income (loss) attributable to Class A Common shareholders:	$	1,100	$	(12,607	)
Effect of dilutive Class C Common Stock:
Net income (loss) attributable to noncontrolling interest assumed to be redeemed for Class A Common Stock, net of tax	3,525		—
Net income (loss) attributable to Class A Common shareholders after assumed redemption	$	4,625	$	(12,607	)

Weighted average Class A Common Stock outstanding (basic)	74,929		139,941
Effect of dilutive Class C Common Stock:
Class A Common Stock assumed issued to holder of noncontrolling interest upon redemption	250,000		—
Weighted average Class A Common Stock outstanding (diluted)	324,929		139,941

Net income (loss) per share attributable to Class A Common shareholders:
Basic	$	0.01	$	(0.09	)
Diluted	$	0.01	(0.09		)

(1)

Shares of Class A Common Stock and Class C Common Stock issued to Apache in exchange for its ownership interests in the Altus Midstream Entities were retroactively restated from May 26, 2016 (inception) to the Closing Date, based on the proportionate value of the capital contributions made by Apache to the Altus Midstream Entities. The calculation of the weighted averages shares outstanding from inception up to the Closing Date includes all shares issued to Apache, in order to reflect Apache’s 100 percent economic interest in the Altus Midstream Entities until that time. For further detail of the Business Combination and associated financial statement presentation, please refer to Note 1 — Summary of Significant Accounting Policies and Note 2 — Recapitalization Transaction.