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Acquisition (Table)
 9 Months Ended
Sep. 30, 2014
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]  
Business Combination, Purchase Price Summary
The following table summarizes the purchase price (in millions, except per unit price):
EMI outstanding common shares:
 
 
   Held by public shareholders
48.0

 
   Restricted shares
0.4

 
        Total subject to exchange
48.4

 
Exchange ratio
1.0

x
Exchanged shares
48.4

 
EMI common share price(1)
$
37.6

 
EMI consideration
$
1,822.6

 
Fair value of non-controlling interests in E2
12.1

 
        Total consideration and fair value of non-controlling interests
$
1,834.7

 
Partnership outstanding units:
 
 
    Common units held by public unitholders
75.1

 
    Preferred units held by third party (2)
17.1

 
    Restricted units
0.4

 
        Total
92.6

 
Partnership common unit price(3)
$
30.51

 
Partnership common units value
$
2,825.2

 
Partnership outstanding unit options value
$
3.9

 
        Total fair value of non-controlling interests in the Partnership(3)
$
2,828.8

 
        Total consideration and fair value of non-controlling interests
$
4,663.5

 
(1) The final purchase price is based on the fair value of the Company's common shares as of the closing date, March 7, 2014.
(2) The Partnership converted the preferred units to common units in February 2014.
(3) The final purchase price is based on the fair value of the Partnership's common units as of the closing date, March 7, 2014.
Schedule of Purchase Price Allocation
The following table is a summary of the preliminary fair value of the assets acquired and liabilities assumed from EMI in the business combination as of March 7, 2014 (in millions):
Assets acquired:
 
     Current assets
$
437.4

     Property, plant and equipment
2,437.9

Intangibles assets
546.9

Equity investment
221.5

Goodwill
3,291.9

Other long term assets
1.3

Liabilities assumed:
 
     Current liabilities
(515.9
)
     Long-term debt
(1,453.7
)
     Deferred taxes
(202.6
)
     Other long term liabilities
(101.2
)
           Total purchase price
$
4,663.5
Pro Forma
The following unaudited pro forma condensed financial data for the nine months ended September 30, 2014 and three and nine months ended September 30, 2013 gives effect to the business combination as if it had occurred on January 1, 2013. The unaudited pro forma condensed financial information has been included for comparative purposes only and is not necessarily indicative of the results that might have occurred had the transactions taken place on the dates indicated and is not intended to be a projection of future results. As of March 7, 2014, Midstream Holdings entered into gathering and processing agreements with Devon, which are described in Note 4. Pro forma financial information associated with the business combination and with these agreements with Devon is reflected below.
 
Three Months Ended
 
Nine Months Ended
 
September 30, 2013
 
September 30, 2014
 
September 30, 2013
 
(in millions, except for per unit data)
Pro forma total revenues
$
622.0

 
$
2,676.6

 
$
1,818.9

Pro forma net income
$
(6.4
)
 
$
165.8

 
$
76.5

Pro forma net income attributable to EnLink Midstream, LLC.
$
18.2

 
$
75.3

 
$
53.2

Pro forma net income per common unit:
 
 


 
 
Basic
$
0.10

 
$
0.46

 
$
0.33

Diluted
$
0.10

 
$
0.45

 
$
0.33