NOTE F – EQUITY

Changes in equity for the three and nine month periods ended September 30, 2016 and 2015 are as follows:



	Three Months Ended September 30,
	2016									2015
	TETRA			Non- controlling Interest			Total			TETRA			Non- controlling Interest			Total
	(In Thousands)
Beginning balance for the period	$	190,449		$	197,335		$	387,784		$	376,355		$	378,690		$	755,045
Net income (loss)	(15,009		)	(9,019		)	(24,028		)	9,755			981			10,736
Foreign currency translation adjustment	(1,327		)	(327		)	(1,654		)	(6,444		)	(184		)	(6,628		)
Comprehensive Income (loss)	(16,336		)	(9,346		)	(25,682		)	3,311			797			4,108
Exercise of common stock options	115			—			115			63			—			63
Proceeds from the issuance of stock, net of offering costs	(153		)	—			(153		)	—			—			—
Distributions to public unitholders	—			(7,224		)	(7,224		)	—			(9,565		)	(9,565		)
Equity-based compensation	1,774			774			2,548			3,163			454			3,617
Treasury stock and other	—			(154		)	(154		)	(9		)	(21		)	(30		)
Tax benefit upon exercise of stock options							—			(42		)	—			(42		)
Ending balance as of September 30	$	175,849		$	181,385		$	357,234		$	382,841		$	370,355		$	753,196



	Nine Months Ended September 30,
	2016									2015
	TETRA			Non- controlling Interest			Total			TETRA			Non- controlling Interest			Total
	(In Thousands)
Beginning balance for the period	$	241,217		$	272,963		$	514,180		$	369,713		$	395,888		$	765,601
Net income (loss)	(129,908		)	(71,075		)	(200,983		)	20,232			2,247			22,479
Foreign currency translation adjustment	(3,660		)	(843		)	(4,503		)	(12,927		)	(1,129		)	(14,056		)
Comprehensive Income (loss)	(133,568		)	(71,918		)	(205,486		)	7,305			1,118			8,423
Exercise of common stock options	142			—			142			164			—			164
Proceeds from the issuance of stock, net of offering costs	60,124			—			60,124			—			—			—
Distributions to public unitholders	—			(21,642		)	(21,642		)	—			(28,289		)	(28,289		)
Equity-based compensation	9,313			2,236			11,549			6,157			1,659			7,816
Treasury stock and other	(1,379		)	(254		)	(1,633		)	(252		)	(21		)	(273		)
Tax adjustment upon cancellation of stock options	—			—			—			(246		)	—			(246		)
Ending balance as of September 30	$	175,849		$	181,385		$	357,234		$	382,841		$	370,355		$	753,196

Activity within the foreign currency translation adjustment account during the periods includes no reclassifications to net income.

Issuance of Common Stock. On June 21, 2016, we completed an underwritten public offering of 11.5 million shares of our common stock, which included 1.5 million shares of common stock pursuant to an option granted to the underwriters to purchase additional shares, at a price to the public of $5.50 per share ($5.2525 per share net of underwriting discounts). We utilized the net offering proceeds of $60.2 million to repay the remaining balance outstanding of our Senior Secured Notes, to reduce the balance outstanding under our Credit Agreement, to pay offering related discounts and expenses, and for general corporate purposes. The offering was made pursuant to a shelf registration statement filed with the Securities and Exchange Commission on March 23, 2016.

Issuance of CCLP Preferred Units. In August 2016 and September 2016, CCLP received $77.3 million of aggregate net proceeds, after deducting certain offering expenses, from the private placements of the CCLP Preferred Units. (For further discussion of the issuance of CCLP Preferred Units, see Note C - CCLP Series A Convertible Preferred Units.)