Members' Equity (Tables)

12 Months Ended

Dec. 31, 2022

Computation of Basic and Diluted Earnings per Limited Partner Unit

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):


	Year Ended December 31,
	2022		2021		2020
Distributed earnings allocated to:
Common units (1)	$	221.3	$	192.5	$	183.5
Unvested restricted units (1)	5.2		4.5		3.1
Total distributed earnings	$	226.5	$	197.0	$	186.6
Undistributed income (loss) allocated to:
Common units	$	131.7	$	(170.6)	$	(598.4)
Unvested restricted units	3.1		(4.0)		(9.7)
Total undistributed income (loss)	$	134.8	$	(174.6)	$	(608.1)
Net income (loss) attributable to ENLC allocated to:
Common units	$	353.0	$	21.9	$	(414.9)
Unvested restricted units	8.3		0.5		(6.6)
Total net income (loss) attributable to ENLC	$	361.3	$	22.4	$	(421.5)
Net income (loss) attributable to ENLC per unit:
Basic	$	0.76	$	0.05	$	(0.86)
Diluted	$	0.74	$	0.05	$	(0.86)

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(1)Represents distribution activity consistent with the distribution activity table below.

The following are the unit amounts used to compute the basic and diluted earnings per unit for the periods presented (in millions):


	Year Ended December 31,
	2022	2021	2020
Basic weighted average units outstanding:
Weighted average common units outstanding	478.5	488.8	489.3
Diluted weighted average units outstanding:
Weighted average basic common units outstanding	478.5	488.8	489.3
Dilutive effect of unvested restricted units (1)	6.8	5.5	—
Total weighted average diluted common units outstanding	485.3	494.3	489.3

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(1)For the year ended December 31, 2020, all common unit equivalents were antidilutive because a net loss existed for that period.

Summary of Distribution Activity

A summary of our distribution activity related to the ENLC common units for the years ended December 31, 2022, 2021, and 2020, respectively, is provided below:


Declaration period	Distribution/unit		Date paid/payable
2022
First Quarter of 2022	$	0.11250	May 13, 2022
Second Quarter of 2022	$	0.11250	August 12, 2022
Third Quarter of 2022	$	0.11250	November 14, 2022
Fourth Quarter of 2022	$	0.12500	February 13, 2023

2021
First Quarter of 2021	$	0.09375	May 14, 2021
Second Quarter of 2021	$	0.09375	August 13, 2021
Third Quarter of 2021	$	0.09375	November 12, 2021
Fourth Quarter of 2021	$	0.11250	February 11, 2022

2020
First Quarter of 2020	$	0.09375	May 13, 2020
Second Quarter of 2020	$	0.09375	August 13, 2020
Third Quarter of 2020	$	0.09375	November 13, 2020
Fourth Quarter of 2020	$	0.09375	February 12, 2021

Schedule of Repurchase Agreements

The following table summarizes our ENLC common unit repurchase activity for the periods presented (in millions, except for unit amounts):


	Year Ended December 31,
	2022		2021		2020
Publicly held ENLC common units	11,630,351		6,091,001		383,614
ENLC common units held by GIP (1)	6,743,703		—		—
Total ENLC common units	18,374,054		6,091,001		383,614

Aggregate cost for publicly held ENLC common units	$	111.5	$	40.1	$	1.2
Aggregate cost for ENLC common units held by GIP	63.5		—		—
Total aggregate cost for ENLC common units	$	175.0	$	40.1	$	1.2

Average price paid per publicly held ENLC common unit	$	9.59	$	6.59	$	3.02
Average price paid per ENLC common unit held by GIP (2)	$	9.42	$	—	$	—

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(1)For the year ended December 31, 2022, the units represent GIP’s pro rata share of the aggregate number of common units repurchased by us under our common unit repurchase program during the period from February 15, 2022 (the date on which the repurchase agreement with GIP was signed) through December 31, 2022.

(2)For the year ended December 31, 2022, the per unit price we paid to GIP was the average per unit price paid by us for publicly held ENLC common units repurchased during the period from February 15, 2022 (the date on which the repurchase agreement with GIP was signed) through December 31, 2022, less broker commissions, which were not paid with respect to GIP units.