Equity-Based Awards (Tables)

6 Months Ended

Jun. 30, 2019

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 compensation expense we recognized in connection with equity-based awards for the periods indicated:

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2019		2018		2019		2018
Equity-classified awards:
Phantom unit awards	$	35.5	$	25.9	$	64.9	$	50.5
Profits interest awards		3.0		1.0		5.6		2.6
Liability-classified awards		–		0.1		–		0.2
Total	$	38.5	$	27.0	$	70.5	$	53.3

Other Share-based Compensation Plans

	Number of Units			Weighted- Average Grant Date Fair Value per Unit (1)
Phantom unit awards at December 31, 2018		10,333,277		$	26.97
Granted (2)		6,836,920		$	27.75
Vested		(3,561,704	)	$	27.58
Forfeited		(182,095	)	$	27.18
Phantom unit awards at June 30, 2019		13,426,398		$	27.21

(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 phantom unit awards issued during 2019 was $189.7 million based on a grant date market price of EPD common units ranging from $27.75 to $28.55 per unit.  An estimated annual forfeiture rate of 3.0% was applied to these awards.

Cash Distributions and Total Intrinsic Value of Phantom Unit Awards

The following table presents supplemental information regarding phantom unit awards for the periods indicated:

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2019		2018		2019		2018
Cash payments made in connection with DERs	$	6.0	$	4.7	$	10.5	$	8.6
Total intrinsic value of phantom unit awards that vested during period		4.7		3.1		101.7		85.1