Employee Incentive Plans (Tables)

9 Months Ended

Sep. 30, 2023

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 September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Cost of unit-based compensation charged to operating expense	$	1.1	$	1.3	$	2.7	$	4.1
Cost of unit-based compensation charged to general and administrative expense	4.6		10.1		11.5		19.6
Total unit-based compensation expense	$	5.7	$	11.4	$	14.2	$	23.7
Amount of related income tax benefit recognized in net income (1)	$	1.3	$	2.7	$	3.3	$	5.6

____________________________

(1)The amount of related income tax benefit recognized in net income excluded book-to-tax differences recorded upon the vesting of unit-based awards. For additional information, see “Note 7—Income Taxes.”

Schedule Of Restricted Stock Units Activity, ENLC

A summary of the restricted incentive unit activity for the nine months ended September 30, 2023 is provided below:

	Nine Months Ended September 30, 2023
Restricted Incentive Units:	Number of Units		Weighted Average Grant-Date Fair Value
Unvested, beginning of period	6,775,186		$	5.89
Granted	1,575,905		11.02
Vested (1)	(2,413,511)		6.00
Forfeited	(333,050)		6.91
Unvested, end of period	5,604,530		$	7.22
Aggregate intrinsic value, end of period (in millions)	$	68.5

____________________________(1)Vested units included 735,018 ENLC common 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 nine months ended September 30, 2023 and 2022 is provided below (in millions):

	Three Months Ended September 30,				Nine Months Ended September 30,
Restricted Incentive Units:	2023		2022		2023		2022
Aggregate intrinsic value of units vested	$	2.1	$	11.1	$	29.6	$	19.3
Fair value of units vested	$	1.0	$	6.1	$	14.5	$	17.3

Summary of Performance Units, ENLC

The following table presents a summary of the performance units:

	Nine Months Ended September 30, 2023
Performance Units:	Number of Units		Weighted Average Grant-Date Fair Value
Non-vested, beginning of period	2,979,154		$	6.44
Granted	420,128		11.67
Vested (1)	(1,091,523)		8.30
Forfeited	(81,827)		11.06
Non-vested, end of period	2,225,932		$	6.35
Aggregate intrinsic value, end of period (in millions)	$	27.2

____________________________

(1)Vested units included 811,114 ENLC common 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 nine months ended September 30, 2023 and 2022 is provided below (in millions).

	Three Months Ended September 30,				Nine Months Ended September 30,
Performance Units:	2023		2022		2023		2022
Aggregate intrinsic value of units vested	$	4.1	$	10.2	$	26.1	$	15.8
Fair value of units vested	$	1.0	$	4.5	$	9.1	$	15.5

Summary of Grant-Date Fair Values

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

Performance Units:	March 2023
Grant-date fair value	$	11.67
Beginning TSR Price	$	10.40
Risk-free interest rate	3.76		%
Volatility factor	64.00		%