EQUITY COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [Abstract]

Schedule of equity-based compensation expense, net of assumed forfeitures

Equity-based compensation expense, net of forfeitures, recorded by the Company is included in the following table:

	For the Year Ended December 31,
	2019		2018		2017
Restricted units	$	88,979	$	74,441	$	54,339
Restricted units with a market condition	3,613		1,524		—
Options	4,362		12,449		13,848
Phantom shares	737		1,310		1,524
Equity-based compensation expense	$	97,691	$	89,724	$	69,711

Schedule of weighted average assumptions used for fair value

Below is a summary of the significant assumptions used to estimate the grant date fair value of the market condition awards. There were no new market condition awards granted during the year ended December 31, 2019.

	2018
Closing price of the Company's common shares as of valuation date	$	20.95
Risk-free interest rate	2.95		%
Volatility	30.0		%
Dividend yield	5.0		%
Cost of equity	10.0		%

Summary of unvested restricted units' activity

The following table presents unvested restricted units' activity during the year ended December 31, 2019:

	Restricted Units	Weighted Average Grant Date Fair Value Per Unit
Balance - January 1, 2019	16,255,475	$	19.21
Granted	4,499,563	21.42
Vested	(3,691,234)	17.96
Forfeited	(253,331)	19.68
Balance - December 31, 2019	16,810,473	$	20.07

The following table presents the unvested market condition awards' activity during the year ended December 31, 2019:

	Market Condition Awards Units	Weighted Average Grant Date Fair Value Per Unit
Balance - January 1, 2019	1,333,334	$	9.30
Granted	—	—
Vested	—	—
Forfeited	—	—
Balance - December 31, 2019	1,333,334	$	9.30

Summary of unvested options activity

A summary of options activity during the year ended December 31, 2019 is presented below:

	Options	Weighted Average Exercise Price		Weighted Average Remaining Life (in years)	Aggregate Intrinsic Value
Balance - January 1, 2019	18,741,504	$	18.99	4.88	$	—
Granted	—	—		—	—
Exercised	(4,905,998)	19.00		—	—
Expired	(366,366)	19.00		—	—
Forfeited	(42,270)	19.00		—	—
Balance - December 31, 2019	13,426,870	$	18.99	4.34	$	224,260
Exercisable at December 31, 2019	13,317,053	$	18.99	4.33	$	222,372

Summary of unvested phantom units activity

A summary of unvested phantom shares' activity during the year ended December 31, 2019 is presented below:

	Phantom Shares	Weighted Average Grant Date Fair Value Per Share
Balance - January 1, 2019	66,287	$	19.00
Vested	(61,502)	19.00
Forfeited	(4,785)	19.00
Balance - December 31, 2019	—	$	—