Related Party Transactions

9 Months Ended

Sep. 30, 2016

Note 13. Related Party Transactions

The following table summarizes our related party transactions for the periods indicated:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2016		2015		2016		2015
Revenues – related parties:
Unconsolidated affiliates	$	15.7	$	13.9	$	44.5	$	27.3
Costs and expenses – related parties:
EPCO and its privately held affiliates	$	242.3	$	246.0	$	721.0	$	703.9
Unconsolidated affiliates		69.2		66.9		199.5		165.3
Total	$	311.5	$	312.9	$	920.5	$	869.2

The following table summarizes our related party accounts receivable and accounts payable balances at the dates indicated:

	September 30, 2016		December 31, 2015
Accounts receivable - related parties:
Unconsolidated affiliates	$	1.7	$	1.2

Accounts payable - related parties:
EPCO and its privately held affiliates	$	81.9	$	75.6
Unconsolidated affiliates		15.8		8.5
Total	$	97.7	$	84.1

We believe that the terms and provisions of our related party agreements are fair to us; however, such agreements and transactions may not be as favorable to us as we could have obtained from unaffiliated third parties.

Relationship with EPCO and Affiliates

We have an extensive and ongoing relationship with EPCO and its privately held affiliates (including Enterprise GP, our general partner), which are not a part of our consolidated group of companies.

At September 30, 2016, EPCO and its privately held affiliates (including Dan Duncan LLC and certain Duncan family trusts) beneficially owned the following limited partner interests in us:

Total Number of Units	Percentage of Total Units Outstanding
685,481,428	32.6%

Of the total number of units held by EPCO and its privately held affiliates, 118,000,000 have been pledged as security under the credit facilities of a privately held affiliate at September 30, 2016. These credit facilities contain customary and other events of default, including defaults by us and other affiliates of EPCO. An event of default, followed by a foreclosure on the pledged collateral, could ultimately result in a change in ownership of these units and affect the market price of our common units.

We and Enterprise GP are both separate legal entities apart from each other and apart from EPCO and its other affiliates, with assets and liabilities that are also separate from those of EPCO and its other affiliates. EPCO and its privately held affiliates depend on the cash distributions they receive from us and other investments to fund their other activities and to meet their debt obligations. During the nine months ended September 30, 2016 and 2015, we paid EPCO and its privately held affiliates cash distributions totaling $793.6 million and $705.9 million, respectively. Distributions paid during 2015 excluded 35,380,000 Designated Units (see Note 8).

In January 2016, privately held affiliates of EPCO purchased 3,830,256 common units from us under our ATM program, generating gross proceeds of $100 million. In February 2016, privately held affiliates of EPCO reinvested $100 million through our DRIP, resulting in the issuance of an additional 4,481,504 of our common units. See Note 8 for additional information regarding our ATM program and DRIP.

We have no employees. All of our operating functions and general and administrative support services are provided by employees of EPCO pursuant to the ASA or by other service providers. The following table presents our related party costs and expenses attributable to the ASA with EPCO for the periods indicated:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2016		2015		2016		2015
Operating costs and expenses	$	212.9	$	215.3	$	628.9	$	612.2
General and administrative expenses		25.9		26.4		79.5		78.8
Total costs and expenses	$	238.8	$	241.7	$	708.4	$	691.0