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Earnings Per Unit | 6 Months Ended
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Jun. 30, 2014
Earnings Per Unit [Abstract] |
Earnings Per Unit | Note 13. Earnings Per Unit The following table presents our calculation of basic and diluted earnings per unit for the periods indicated:
|  | For the Three Months Ended June 30 |  |  | For the Six Months Ended June 30, |
|  | 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
BASIC EARNINGS PER UNIT |  |  |  |  |  |  |  |  |  |  |  |
Net income attributable to limited partners |  | $ | 637.7 |  |  | $ | 552.5 |  |  | $ | 1,436.5 |  |  | $ | 1,306.0 |
Undistributed earnings allocated and cash payments on phantom unit awards (1) |  |  | (1.2 | ) |  |  | -- |  |  |  | (2.7 | ) |  |  | -- |
Net income available to common unitholders |  | $ | 636.5 |  |  | $ | 552.5 |  |  | $ | 1,433.8 |  |  | $ | 1,306.0 |
Basic weighted-average number of common units outstanding |  |  | 915.5 |  |  |  | 889.1 |  |  |  | 914.8 |  |  |  | 885.4 |
Basic earnings per unit |  | $ | 0.70 |  |  | $ | 0.62 |  |  | $ | 1.57 |  |  | $ | 1.48 |
DILUTED EARNINGS PER UNIT |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income attributable to limited partners |  | $ | 637.7 |  |  | $ | 552.5 |  |  | $ | 1,436.5 |  |  | $ | 1,306.0 |
Diluted weighted-average number of units outstanding: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Distribution-bearing common units |  |  | 915.5 |  |  |  | 889.1 |  |  |  | 914.8 |  |  |  | 885.4 |
Designated Units |  |  | 22.6 |  |  |  | 23.7 |  |  |  | 22.6 |  |  |  | 23.7 |
Class B units (2) |  |  | -- |  |  |  | 4.5 |  |  |  | -- |  |  |  | 4.5 |
Phantom units (1) |  |  | 1.7 |  |  |  | -- |  |  |  | 1.2 |  |  |  | -- |
Incremental option units |  |  | 0.4 |  |  |  | 1.2 |  |  |  | 0.5 |  |  |  | 1.2 |
Total |  |  | 940.2 |  |  |  | 918.5 |  |  |  | 939.1 |  |  |  | 914.8 |
Diluted earnings per unit |  | $ | 0.68 |  |  | $ | 0.60 |  |  | $ | 1.53 |  |  | $ | 1.43 |
(1) Each phantom unit award includes a DER, which entitles the recipient to receive cash payments equal to the product of the number of phantom unit awards and the cash distribution per unit paid to Enterprise's common unitholders. Cash payments made in connection with DERs are nonforfeitable. As a result, the phantom units are considered participating securities for purposes of computing basic earnings per unit. Phantom unit awards were first issued in February 2014. (2) The Class B units automatically converted into an equal number of distribution-bearing common units in August 2013. |
See Note 18 for information regarding a two-for-one common unit split announced on July 15, 2014 and its pro forma effects on earnings per unit.

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