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Equity-based Awards (Tables)

6 Months Ended

Jun. 30, 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 indicated:

		For the Three Months								For the Six Months
		Ended June 30,								Ended June 30,
		2013				2012				2013				2012
Restricted common unit awards		$	18.3			$	15.7			$	34.9			$	30.5
Unit option awards			0.2				0.3				0.6				1.0
Other (1)			0.1				0.5				0.3				1.4
Total		$	18.6			$	16.5			$	35.8			$	32.9
(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 indicated:

		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)			1,748,476			$	57.15
Vested (3)			(1,830,010	)		$	34.71
Forfeited			(120,882	)		$	45.98
Restricted common units at June 30, 2013			3,691,070			$	51.46
(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 $99.9 million based on a grant date market price of our common units ranging from $57.11 to $59.74 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 indicated:

		For the Three Months								For the Six Months
		Ended June 30,								Ended June 30,
		2013				2012				2013				2012
Cash distributions paid to restricted common unitholders		$	3.0			$	3.0			$	5.6			$	5.4
Total intrinsic value of restricted common unit awards that vested during period			54.0				30.1				106.4				62.7

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 indicated:

		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			(736,140	)		$	29.95
Unit option awards at June 30, 2013			2,025,000			$	26.49				1.8			$	51.4
Options exercisable at June 30, 2013			--			$	--				--			$	--
(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 indicated:

		For the Three Months								For the Six Months
		Ended June 30,								Ended June 30,
		2013				2012				2013				2012
Total intrinsic value of unit option awards exercised during period		$	3.4			$	--			$	19.8			$	14.0
Cash received from EPCO in connection with the exercise of unit option awards			2.0				--				11.5				10.2
Unit option award-related cash reimbursements to EPCO			3.4				--				19.8				14.0

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Tabular disclosure of the cash distributions paid with respect to restricted common units and the total intrinsic value of restricted common units that vested during the periods indicated.

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Tabular disclosure of the amount of cash proceeds received from the exercise of stock options and similar instruments granted under share-based payment arrangements and the tax benefit realized from stock options exercised during the period. Disclosure may also include the intrinsic value of stock options exercised during the period.

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Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

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Tabular disclosure of share-based compensation plans that may be presented in a single table for outstanding, vested and expected to vest, and exercisable awards. The information that may be disclosed in this table may include, but is not limited to, number of shares, weighted average exercise price, weighted average remaining contractual life, and aggregate intrinsic value.

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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