NET INCOME (LOSS) PER SHARE (Tables)

12 Months Ended

Dec. 31, 2021

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.


	For the Year Ended December 31,
	2021					2020					2019
	Loss		Shares	Per Share		Income		Shares	Per Share		Loss		Shares(3)	Per Share

	(In thousands, except per share data)
Basic:
Net income (loss) attributable to Class A common shareholders	$	(13,944)	3,746	$	(3.72)	$	2,791	3,746	$	0.75	$	(358,490)	3,746	$	(95.70)
Effect of dilutive securities:
Redeemable noncontrolling interest — Apache limited partner	$	(48,741)	12,500			$	2,987	12,500			$	—	—

Diluted(1)(2):
Net income (loss) attributable to Class A common shareholders	$	(62,685)	16,246	$	(3.86)	$	5,778	16,246	$	0.36	$	(358,490)	3,746	$	(95.70)

(1)The effect of an assumed exchange of outstanding Common Units of Altus Midstream (and the cancellation of a corresponding number of shares of outstanding Class C Common Stock) would have been anti-dilutive for the year ended December 31, 2019.

(2)The effect of an assumed exchange of the outstanding Preferred Units of Altus Midstream for shares of Class A Common Stock would have been anti-dilutive for all periods presented in which the Preferred Units were outstanding.

(3)Share and per share amounts have been retroactively restated to reflect the Company’s reverse stock split, which was effected June 30, 2020. Refer to Note 10—Equity and Warrants for further information.