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Members' Equity
 3 Months Ended
Mar. 31, 2019
Earnings Per Share [Abstract]  
Members' Equity
(9) Members' Equity

(a)Issuance of ENLC Common Units related to the Merger

In connection with the consummation of the Merger, we issued 304,822,035 ENLC common units in exchange for all of the outstanding ENLK common units not previously owned by us.

(b) ENLC Equity Distribution Agreement

On February 22, 2019, ENLC entered into the ENLC EDA with the Sales Agents to sell up to $400.0 million in aggregate gross sales of ENLC common units from time to time through an “at the market” equity offering program. Under the ENLC EDA, ENLC may also sell common units to any Sales Agent as principal for the Sales Agent’s own account at a price agreed upon at the time of sale. ENLC has no obligation to sell any ENLC common units under the ENLC EDA and may at any time suspend solicitation and offers under the ENLC EDA. As of May 1, 2019, ENLC has not sold any common units under the ENLC EDA.

(c) Earnings Per Unit and Dilution Computations

As required under ASC 260, Earnings Per Share, unvested share-based payments that entitle employees to receive non-forfeitable distributions are considered participating securities for earnings per unit calculations. The following table reflects the computation of basic and diluted earnings per unit for the periods presented (in millions, except per unit amounts):
 
Three Months Ended March 31,
 
2019
 
2018
Distributed earnings allocated to:
 
 
 
Common units (1)
$
109.4

 
$
47.6

Unvested restricted units (1)
1.2

 
0.5

Total distributed earnings
$
110.6

 
$
48.1

Undistributed loss allocated to:
 
 
 
Common units
$
(283.8
)
 
$
(35.3
)
Unvested restricted units
(3.1
)
 
(0.4
)
Total undistributed loss
$
(286.9
)
 
$
(35.7
)
Net income (loss) allocated to:
 
 
 
Common units
$
(174.4
)
 
$
12.3

Unvested restricted units
(1.9
)
 
0.1

Total net income (loss)
$
(176.3
)
 
$
12.4

Basic and diluted net income (loss) per unit:
 
 
 
Basic
$
(0.45
)
 
$
0.07

Diluted
$
(0.45
)
 
$
0.07

____________________________
(1)
For the three months ended March 31, 2019 and 2018, distributed earnings represent a declared distribution of $0.279 per unit payable on May 14, 2019 and a distribution of $0.263 per unit paid on May 15, 2018.

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,
 
2019
 
2018
Basic weighted average units outstanding:
 
 
 
Weighted average common units outstanding
392.0

 
180.9

 
 
 
 
Diluted weighted average units outstanding:
 
 
 
Weighted average basic common units outstanding
392.0

 
180.9

Dilutive effect of non-vested restricted units (1)
—

 
0.9

Total weighted average diluted common units outstanding
392.0

 
181.8


___________________________
(1)
All common unit equivalents were antidilutive for the three months ended March 31, 2019 since a net loss existed for that period.

(d) Distributions

A summary of our distribution activity relating to the ENLC common units for the three months ended March 31, 2019 and 2018, respectively, is provided below:
Declaration period
 
Distribution/unit
 
Date paid/payable
2019
 
 
 
 
Fourth Quarter of 2018
 
$
0.275

 
February 14, 2019
First Quarter of 2019
 
$
0.279

 
May 14, 2019
 
 
 
 
 
2018
 
 
 
 
Fourth Quarter of 2017
 
$
0.259

 
February 14, 2018
First Quarter of 2018
 
$
0.263

 
May 15, 2018