Earnings Per Share and Dilution Computations

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

Earnings per Unit and Dilution Computation

(8) Earnings per Unit and Dilution Computations

As required under FASB ASC 260-10-45-61A, unvested share-based payments that entitle employees to receive non-forfeitable distributions are considered participating securities, as defined in FASB ASC 260-10-20, for earnings per unit calculations. Net income earned by the Predecessor prior to March 7, 2014 is not included for purposes of calculating earnings per unit as the Predecessor did not have any unitholders. Additionally, distributions declared for the Class B Units represent a pro rata distribution for the number of days the Class B Units were issued and outstanding during the quarter. The Class B Units automatically converted into common units on a one-for-one basis on March 6, 2014.

  The following table reflects the computation of basic and diluted earnings per limited partner unit for the period from March 7, 2014 through March 31, 2014 (in millions except per unit amounts):

Net income attributable to Enlink Midstream, LLC	$	6.8
Distributed earnings allocated to:
Common units and Class B Units (1)(2)	$	14.5
Unvested restricted units (1)	0.1
Total distributed earnings	$	14.6
Undistributed loss allocated to:
Common units and Class B Units	$	(7.8	)
Unvested restricted units	—
Total undistributed loss	$	(7.8	)
Net loss allocated to:
Common units and Class B Units	$	6.7
Unvested restricted units	0.1
Total net income	$	6.8
Basic and diluted net income per unit:
Basic common unit	$	0.04
Diluted common unit	$	0.04

(1) Three months ended March 31, 2014 represents a declared distribution of $0.18 per unit for common units payable on May 15, 2014.

(2) Includes declared distribution of $0.05 per unit for ENLC's Class B Units payable on May 15, 2014.

The following are the unit amounts used to compute the basic and diluted earnings per limited partner unit for the period from March 7, 2014 through March 31, 2014 (in millions):

Basic weighted average units outstanding:
Weighted average Class B Units outstanding	115.5
Weighted average common units outstanding	48.5
Total weighted average common units outstanding	164.0
Diluted weighted average units outstanding:
Weighted average basic common units outstanding	164.0
Dilutive effect of restricted units issued	0.7
Total weighted average diluted common units outstanding	164.7

All outstanding units were included in the computation of diluted earnings per unit and weighted based on the number of days such units were outstanding during the period presented.