Employee Incentive Plans (Tables)

12 Months Ended

Dec. 31, 2017

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Amounts Recognized in Consolidated Financial Statements

Amounts recognized on the consolidated financial statements with respect to these plans are as follows (in millions):



	Year Ended December 31,
	2017		2016		2015
Cost of unit-based compensation charged to general and administrative expense	$	37.4	$	23.7	$	31.1
Cost of unit-based compensation charged to operating expense	10.7		6.6		5.0
Total unit-based compensation expense	$	48.1	$	30.3	$	36.1
Non-controlling interest in unit-based compensation	$	18.0	$	11.3	$	14.0
Amount of related income tax benefit recognized in net income (1)	$	11.3	$	7.1	$	8.3


(1)	For the year ended December 31, 2017, the amount of related income tax benefit recognized in net income excluded $2.9 million of income tax expense related to tax deficiencies recorded on vested units.

Summary of Restricted Incentive Unit Activity

ENLC restricted incentive units are valued at their fair value at the date of grant, which is equal to the market value of the ENLC common units on such date. A summary of the restricted incentive unit activity for the year ended December 31, 2017 is provided below:



	Year Ended December 31, 2017
EnLink Midstream, LLC Restricted Incentive Units:	Number of Units			Weighted Average Grant-Date Fair Value
Non-vested, beginning of period	1,897,298			$	19.96
Granted (1)	827,609			19.20
Vested (1)(2)	(795,032		)	27.95
Forfeited	(40,565		)	16.84
Non-vested, end of period	1,889,310			$	21.64
Aggregate intrinsic value, end of period (in millions)	$	33.3


(1)	Restricted incentive units typically vest at the end of three years. In March 2017, ENLC granted 258,606 restricted incentive units with a fair value of $5.0 million to officers and certain employees as bonus payments for 2016, and these restricted incentive units vested immediately are included in the restricted incentive units granted and vested line items.


(2)	Vested units include 243,620 units withheld for payroll taxes paid on behalf of employees.

Summary of Restricted Units' Aggregate Intrinsic Value

A summary of the restricted incentive units’ aggregate intrinsic value (market value at vesting date) and fair value of units vested (market value at date of grant) during the years ended December 31, 2017, 2016 and 2015 is provided below (in millions):



	Year Ended December 31,
EnLink Midstream, LLC Restricted Incentive Units:	2017		2016		2015
Aggregate intrinsic value of units vested	$	15.3	$	4.1	$	9.2
Fair value of units vested	$	22.2	$	12.4	$	9.8

Summary of Grant-Date Fair Values

The following table presents a summary of the grant-date fair values of performance units and the related assumptions by performance unit grant date:



EnLink Midstream, LLC Performance Units:	March 2017		October 2016		February 2016		January 2016		March 2015
Beginning TSR price	$18.29		$16.75		$15.38		$15.38		$34.24
Risk-free interest rate	1.62	%	0.91	%	0.89	%	1.10	%	0.99	%
Volatility factor	52.07	%	52.89	%	52.05	%	46.02	%	33.02	%
Distribution yield	5.40	%	6.10	%	14.00	%	8.60	%	2.98	%

Summary of Performance Units

The following table presents a summary of the performance units:



	Year Ended December 31, 2017
EnLink Midstream, LLC Performance Units:	Number of Units		Weighted Average Grant-Date Fair Value
Non-vested, beginning of period	384,264		$	19.30
Granted	164,575		28.77
Forfeited	—		—
Non-vested, end of period	548,839		$	22.14
Aggregate intrinsic value, end of period (in millions)	$	9.7

EnLink Midstream Partners, LP