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Equity-based Awards (Tables)
 3 Months Ended
Mar. 31, 2013
Equity-based Awards [Abstract]  
Equity-based Award Expense
An allocated portion of the fair value of EPCO's equity-based awards is charged to us under the ASA.  The following table summarizes the compensation expense we recognized in connection with equity-based awards for the periods presented:

 
 
For the Three Months
Ended March 31,
 
 
 
2013
 
 
2012
 
Restricted common unit awards
 
$
16.6
 
 
$
14.8
 
Unit option awards
 
 
0.4
 
 
 
0.7
 
Other (1)
 
 
0.2
 
 
 
0.9
 
Total
 
$
17.2
 
 
$
16.4
 
 
 
 
 
 
 
 
 
 
(1)   Primarily represents expense associated with unit appreciation rights ("UARs"), phantom units and similar awards.
 
Restricted Common Unit Awards
The following table presents information regarding restricted common unit awards for the period presented:

 
 
 
 
 
Number of
Units
 
 
Weighted-
Average Grant
Date Fair Value
per Unit (1)
 
Restricted common units at December 31, 2012
 
 
3,893,486
 
 
$
40.87
 
Granted (2,3)
 
 
1,723,576
 
 
$
57.11
 
Vested (3)
 
 
(939,226
)
 
$
43.42
 
Forfeited
 
 
(59,460
)
 
$
43.13
 
Restricted common units at March 31, 2013
 
 
4,618,376
 
 
$
46.38
 
 
 
 
 
 
 
 
 
 
(1)   Determined by dividing the aggregate grant date fair value of awards (before an allowance for forfeitures) by the number of awards issued.
(2)   The aggregate grant date fair value of restricted common unit awards issued during 2013 was $98.4 million based on a grant date market price of our common units of $57.11 per unit. An estimated annual forfeiture rate of 3.9% was applied to these awards.
(3)   Includes awards granted to the independent directors of the board of directors of Enterprise GP as part of their annual compensation for 2013. A total of 9,296 restricted common unit awards were issued to the independent directors of Enterprise GP, which immediately vested upon issuance.
 
Cash Distributions and Total Intrinsic Value of Restricted Common Units
The following table presents supplemental information regarding restricted common unit awards for the periods presented:

 
 
For the Three Months
 
 
 
Ended March 31,
 
 
 
2013
 
 
2012
 
Cash distributions paid to restricted common unitholders
 
$
2.6
 
 
$
2.4
 
Total intrinsic value of restricted common unit awards that vested during period
 
$
52.4
 
 
$
32.6
 
Unit Option Activity
The fair value of each unit option award is estimated on the date of grant using a Black-Scholes option pricing model.  Compensation expense recorded in connection with unit option awards is based on the grant date fair value, net of an allowance for estimated forfeitures, over the requisite service or vesting period.  The following table presents unit option award activity for the period presented:

 
 
Number of
Units
 
 
Weighted-
Average
Strike Price
(dollars/unit)
 
 
Weighted-
Average
Remaining
Contractual
Term
(in years)
 
 
Aggregate
Intrinsic
Value (1)
 
Unit option awards at December 31, 2012
 
 
2,761,140
 
 
$
27.41
 
 
 
2.0
 
 
$
13.0
 
Exercised
 
 
(646,000
)
 
$
30.83
 
 
 
 
 
 
 
 
 
Unit option awards at March 31, 2013
 
 
2,115,140
 
 
$
26.36
 
 
 
2.1
 
 
$
27.3
 
Options exercisable at March 31, 2013
 
 
30,000
 
 
$
30.93
 
 
 
0.8
 
 
$
0.9
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1)   Aggregate intrinsic value reflects fully vested unit option awards at the date indicated.
 
Supplemental Information Regarding Unit Options
The following table presents supplemental information regarding unit option awards during the periods presented:

 
 
For the Three Months
Ended March 31,
 
 
 
2013
 
 
2012
 
Total intrinsic value of unit option awards exercised during period
 
$
16.4
 
 
$
14.0
 
Cash received from EPCO in connection with the exercise of unit option awards
 
$
9.5
 
 
$
10.2
 
Unit option award-related cash reimbursements to EPCO
 
$
16.4
 
 
$
14.0