Employee Incentive Plans (Tables)

3 Months Ended

Mar. 31, 2022

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 March 31,
	2022		2021
Cost of unit-based compensation charged to operating expense	$	1.6	$	1.7
Cost of unit-based compensation charged to general and administrative expense	5.0		4.8
Total unit-based compensation expense	$	6.6	$	6.5
Amount of related income tax benefit recognized in net income (1)	$	1.6	$	1.5

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(1)For the three months ended March 31, 2022 and 2021, the amount of related income tax benefit recognized in net income excluded $2.0 million and $2.5 million, respectively, of income tax expense related to book-to-tax differences recorded upon the vesting of restricted units.

Schedule Of Restricted Stock Units Activity, ENLC

A summary of the restricted incentive unit activity for the three months ended March 31, 2022 is provided below:

	Three Months Ended March 31, 2022
ENLC Restricted Incentive Units:	Number of Units		Weighted Average Grant-Date Fair Value
Non-vested, beginning of period	7,507,471		$	5.46
Granted (1)	1,761,711		8.87
Vested (1)(2)	(1,032,738)		10.35
Forfeited	(2,022)		3.71
Non-vested, end of period	8,234,422		$	5.58
Aggregate intrinsic value, end of period (in millions)	$	79.5

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(1)Restricted incentive units typically vest at the end of three years. In March 2022, ENLC granted 193,935 restricted incentive units with a fair value of $1.7 million. These restricted incentives units vested immediately and are included in the restricted incentive units granted and vested line items.

(2)Vested units included 278,866 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 months ended March 31, 2022 and 2021 is provided below (in millions):

	Three Months Ended March 31,
ENLC Restricted Incentive Units:	2022		2021
Aggregate intrinsic value of units vested	$	7.6	$	3.0
Fair value of units vested	$	10.7	$	10.2

Summary of Performance Units, ENLC

The following table presents a summary of the performance units:

	Three Months Ended March 31, 2022
ENLC Performance Units:	Number of Units		Weighted Average Grant-Date Fair Value
Non-vested, beginning of period	3,574,827		$	6.40
Granted	598,286		11.45
Vested (1)	(708,361)		15.57
Non-vested, end of period	3,464,752		$	5.40
Aggregate intrinsic value, end of period (in millions)	$	33.4

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(1)Vested units included 273,357 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 months ended March 31, 2022 and 2021 is provided below (in millions).

	Three Months Ended March 31,
ENLC Performance Units:	2022		2021
Aggregate intrinsic value of units vested	$	5.6	$	0.6
Fair value of units vested	$	11.0	$	4.4

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:	March 2022 (1)			January 2021
Grant-date fair value	$	11.90		$	4.70
Beginning TSR price	$	8.83		$	3.71
Risk-free interest rate	2.15		%	0.17		%
Volatility factor	75.00		%	71.00		%

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(1)Excludes ENLC performance units awarded March 1, 2022 with vesting conditions based on performance metrics. The 88,863 ENLC performance units have a grant-date fair value of $8.90 and will vest in February 2023.