Employee Incentive Plans (Tables)

6 Months Ended

Jun. 30, 2020

Share-based Payment Arrangement [Abstract]

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):

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Cost of unit-based compensation charged to operating expense	$	2.0	$	2.1	$	4.2	$	2.4
Cost of unit-based compensation charged to general and administrative expense	5.4		5.9		12.0		16.7
Total unit-based compensation expense	$	7.4	$	8.0	$	16.2	$	19.1
Non-controlling interest in unit-based compensation	$	—	$	—	$	—	$	0.5
Amount of related income tax benefit recognized in net income (loss) (1)	$	1.7	$	1.9	$	3.8	$	4.4

____________________________

(1)For the three and six months ended June 30, 2020, the amount of related income tax expense recognized in net income (loss) excluded $6.8 million and $4.4 million, respectively, related to book-to-tax differences recorded upon vesting of restricted units. For the three months ended June 30, 2019, the amount of related income tax expense recognized in net income excluded $0.1 million related to book-to-tax differences recorded upon vesting of restricted units. There was no income tax expense or benefit related to book-to-tax differences recorded upon vesting of restricted units for the six months ended June 30, 2020.

Schedule Of Restricted Stock Units Activity, ENLC

ENLC restricted incentive units were valued at their fair value at the date of grant, which is equal to the market value of ENLC common units on such date. A summary of the restricted incentive unit activity for the six months ended June 30, 2020 is provided below:

	Six Months Ended June 30, 2020
ENLC Restricted Incentive Units:	Number of Units		Weighted Average Grant-Date Fair Value
Non-vested, beginning of period	4,063,605		$	13.85
Granted (1)	4,673,848		5.55
Vested (1)(2)	(2,413,687)		10.35
Forfeited	(478,304)		8.39
Non-vested, end of period	5,845,462		$	9.11
Aggregate intrinsic value, end of period (in millions)	$	14.3

____________________________

(1)Restricted incentive units typically vest at the end of three years. In February 2020, ENLC granted 1,144,842 restricted incentive units with a fair value of $5.2 million to officers and certain employees as bonus payments for 2019, and these restricted incentive units vested immediately and are included in the restricted incentive units granted and vested line items.

(2)Vested units included 851,940 units withheld for payroll taxes paid on behalf of employees.

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units, Vested and Fair Value Vested, ENLC

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) for the three and six months ended June 30, 2020 and 2019 is provided below (in millions):

	Three Months Ended June 30,				Six Months Ended June 30,
ENLC Restricted Incentive Units:	2020		2019		2020		2019
Aggregate intrinsic value of units vested	$	0.8	$	0.5	$	10.9	$	12.9
Fair value of units vested	$	6.1	$	0.5	$	25.0	$	13.1

Summary of Performance Units, ENLC

The following table presents a summary of the performance units:

	Six Months Ended June 30, 2020
ENLC Performance Units:	Number of Units		Weighted Average Grant-Date Fair Value
Non-vested, beginning of period	1,317,856		$	14.22
Granted	1,161,986		7.32
Vested (1)	(178,403)		30.56
Forfeited	(37,646)		11.81
Non-vested, end of period	2,263,793		$	9.43
Aggregate intrinsic value, end of period (in millions)	$	5.5

____________________________

(1)Vested units included 67,775 units withheld for payroll taxes paid on behalf of employees.

A summary of the performance units’ aggregate intrinsic value (market value at vesting date) and fair value of units vested (market value at date of grant) for the three and six months ended June 30, 2020 and 2019 is provided below (in millions).

	Three Months Ended June 30,				Six Months Ended June 30,
ENLC Performance Units:	2020		2019		2020		2019
Aggregate intrinsic value of units vested	$	—	$	—	$	0.9	$	1.8
Fair value of units vested	$	0.5	$	—	$	5.5	$	1.9

Summary of Grant-Date Fair Values

The following table presents a summary of the grant-date fair value assumptions by performance unit grant date:

ENLC Performance Units:	January 2020			March 2020
Grant-Date Fair Value	$	7.69		$	1.13
Beginning TSR price	$	6.13		$	1.25
Risk-free interest rate	1.62		%	0.42		%
Volatility factor	37.00		%	51.00		%

Summary of Restricted Incentive Unit Activity

	Six Months Ended June 30,
ENLK Restricted Incentive Units:	2019
Aggregate intrinsic value of units vested	$	8.0
Fair value of units vested	$	7.2

Summary of Performance Units, ENLP

	Six Months Ended June 30,
ENLK Performance Units:	2019
Aggregate intrinsic value of units vested	$	2.1
Fair value of units vested	$	1.7