Earnings Per Share and Dilution Computations

9 Months Ended

Sep. 30, 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 May 6, 2014.

  The following table reflects the computation of basic and diluted earnings per limited partner unit for the three and nine months ended September 30, 2014 (in millions, except per unit amounts):

	Three Months Ended September 2014			Nine Months Ended September 30, 2014*
Net income attributable to Enlink Midstream, LLC	$	28.8		$	64.4
Distributed earnings allocated to:
Common units and Class B Units (1)(2)	$	37.7		$	88.3
Unvested restricted units (1)	0.2			0.6
Total distributed earnings	$	37.9		$	88.9
Undistributed loss allocated to:
Common units and Class B Units	$	(9.1	)	$	(24.3	)
Unvested restricted units	(0.1		)	(0.2		)
Total undistributed loss	$	(9.2	)	$	(24.5	)
Net income allocated to:
Common units and Class B Units	$	28.6		$	64.0
Unvested restricted units	0.2			0.4
Total net income	$	28.8		$	64.4
Basic and diluted net income per unit:
Basic common unit	$	0.18		$	0.39
Diluted common unit	$	0.17		$	0.39

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* The nine months ended September 30, 2014 amounts consist only of the period from March 7, 2014 through September 30, 2014.

(1) Three months ended September 30, 2014 represents a declared distribution of $0.23 per unit for common units payable on November 14, 2014 and nine months ended September 30, 2014 represents distributions of $0.18 per unit paid on May 15, 2014, distributions of $0.22 per unit paid on August 14, 2014 and distributions declared of $0.23 per unit payable on November 14, 2014.

(2) Nine months ended September 30, 2014 includes distributions of $0.05 per unit for ENLC's Class B Units paid on May 15, 2014. The Class B Units converted into common units on a one-for-one basis on May 6, 2014.

The following are the unit amounts used to compute the basic and diluted earnings per limited partner unit for the three and nine months ended September 30, 2014 (in millions):

	Three Months Ended  September 30, 2014	Nine Months Ended  September 30, 2014*
Basic weighted average units outstanding:
Weighted average limited partner basic common units outstanding	164.0	164.0
Diluted weighted average units outstanding:
Weighted average basic common units outstanding	164.0	164.0
Dilutive effect of restricted units issued	0.4	0.3
Total weighted average diluted common units outstanding	164.4	164.3

* The nine months ended September 30, 2014 amounts consist only of the period from March 7, 2014 through September 30, 2014. 

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.