Earnings per Unit and Dilution Computations

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Earnings per Unit and Dilution Computations

(9) Earnings per Unit and Dilution Computations

As required under FASB ASC 260-10-45-61A, unvested unit-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.

The following table reflects the computation of basic and diluted earnings per unit for the three months ended March 31, 2015 and 2014 (in millions, except per unit amounts):

	Three Months Ended March 31,
	2015			2014*
Net income attributable to EnLink Midstream, LLC	$	16.3		$	6.8
Distributed earnings allocated to:
Common units (1) (2)	$	40.2		$	14.5
Unvested restricted units (1)	0.2			0.1
Total distributed earnings	$	40.4		$	14.6
Undistributed loss allocated to:
Common units	$	(24.0	)	$	(7.8	)
Unvested restricted units	(0.1		)	—
Total undistributed loss	$	(24.1	)	$	(7.8	)
Net income allocated to:
Common units	$	16.2		$	6.7
Unvested restricted units	0.1			0.1
Total net income	$	16.3		$	6.8
Total basic and diluted net income per unit:
Basic	$	0.10		$	0.04
Diluted	$	0.10		$	0.04

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* The three months ended March 31, 2014 amounts consist only of the period from March 7, 2014 through March 31, 2014.

(1) Three Months Ended March 31, 2015 and 2014 represents a declared distribution of $0.245 per unit for common units payable on May 15, 2015 and declared distribution of $0.18 per unit for common units paid on May 15, 2014, respectively.

(2) Includes declared distribution of $0.05 per unit for Class B Common Units paid on May 15, 2014.

The following are the unit amounts used to compute the basic and diluted earnings per unit for the periods presented (in millions):

	Three Months Ended March 31,
	2015	2014*
Basic and diluted earnings per unit:
Weighted average Class B Units outstanding	—	115.5
Weighted average common units outstanding	164.2	48.5
Total weighted average common units outstanding	164.2	164.0
Diluted weighted average units outstanding:
Weighted average basic common units outstanding	164.2	164.0
Dilutive effect of restricted units issued	0.3	0.7
Total weighted average diluted common units outstanding	164.5	164.7

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* The three months ended March 31, 2014 amounts consist only of the period from March 7, 2014 through March 31, 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 periods presented.