Members' Equity

3 Months Ended

Mar. 31, 2021

(8) 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,
	2021		2020
Distributed earnings allocated to:
Common units (1)	$	45.9	$	45.8
Unvested restricted units (1)	1.1		0.8
Total distributed earnings	$	47.0	$	46.6
Undistributed loss allocated to:
Common units	$	(58.3)	$	(327.4)
Unvested restricted units	(1.4)		(6.0)
Total undistributed loss	$	(59.7)	$	(333.4)
Net loss allocated to:
Common units	$	(12.4)	$	(281.6)
Unvested restricted units	(0.3)		(5.2)
Total net loss	$	(12.7)	$	(286.8)
Basic and diluted total net loss per unit:
Basic	$	(0.03)	$	(0.59)
Diluted	$	(0.03)	$	(0.59)

____________________________

(1)Represents distribution activity consistent with the distribution activity in “Distributions” below.

There were 490.0 million and 488.7 million weighted average common units outstanding for the three months ended March 31, 2021 and 2020, respectively. All common unit equivalents were antidilutive because a net loss existed for those periods.

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 period presented.

b.Distributions

A summary of our distribution activity related to the ENLC common units for the three months ended March 31, 2021 and 2020, respectively, is provided below:


Declaration period	Distribution/unit		Date paid/payable
2021
Fourth Quarter of 2020	$	0.09375	February 12, 2021
First Quarter of 2021	$	0.09375	May 14, 2021



2020
Fourth Quarter of 2019	$	0.1875	February 13, 2020
First Quarter of 2020	$	0.09375	May 13, 2020