Members' Equity

3 Months Ended

Mar. 31, 2020

(9) Members’ Equity

a.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,
	2020		2019
Distributed earnings allocated to:
Common units (1)	$	45.8	$	109.4
Unvested restricted units (1)	0.8		1.2
Total distributed earnings	$	46.6	$	110.6
Undistributed loss allocated to:
Common units	$	(327.4)	$	(283.8)
Unvested restricted units	(6.0)		(3.1)
Total undistributed loss	$	(333.4)	$	(286.9)
Net loss allocated to:
Common units	$	(281.6)	$	(174.4)
Unvested restricted units	(5.2)		(1.9)
Total net loss	$	(286.8)	$	(176.3)
Basic and diluted net loss per unit:
Basic	$	(0.59)	$	(0.45)
Diluted	$	(0.59)	$	(0.45)

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(1)For the three months ended March 31, 2020 and 2019, distributed earnings represent a declared distribution of $0.09375 per unit payable on May 13, 2020 and a distribution of $0.279 per unit paid on May 14, 2019, respectively.

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,
	2020	2019
Basic and diluted weighted average units outstanding:
Weighted average common units outstanding (1)	488.7	392.0

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(1)All common unit equivalents were antidilutive for the three months ended March 31, 2020 and 2019 since a net loss existed for those periods.

b.Distributions

A summary of our distribution activity relating to the ENLC common units for the three months ended March 31, 2020 and 2019, respectively, is provided below:


Declaration period	Distribution/unit		Date paid/payable
2020
Fourth Quarter of 2019	$	0.1875	February 13, 2020
First Quarter of 2020	$	0.09375	May 13, 2020



2019
Fourth Quarter of 2018	$	0.275	February 14, 2019
First Quarter of 2019	$	0.279	May 14, 2019