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Equity-based Awards (Tables) | 12 Months Ended
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Dec. 31, 2014
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 Year Ended December 31, |
|  | 2014 |  |  | 2013 |  |  | 2012 |
Equity-classified awards: |  |  |  |  |  |  |  |  |
Restricted common unit awards |  | $ | 42.1 |  |  | $ | 71.5 |  |  | $ | 57.0 |
Unit option awards |  |  | -- |  |  |  | 0.8 |  |  |  | 1.3 |
Phantom unit awards |  |  | 45.1 |  |  |  | -- |  |  |  | -- |
Liability-classified awards |  |  | 0.3 |  |  |  | 0.5 |  |  |  | 1.7 |
Total |  | $ | 87.5 |  |  | $ | 72.8 |  |  | $ | 60.0 |
Restricted Common Unit Awards | The following table presents information regarding restricted common unit awards for the periods indicated:
|  | Number of Units |  |  | Weighted- Average Grant Date Fair Value per Unit (1) |
Restricted common units at December 31, 2011 |  |  | 7,736,432 |  |  | $ | 17.11 |
Granted (2) |  |  | 3,177,476 |  |  | $ | 25.98 |
Vested |  |  | (2,633,206 | ) |  | $ | 17.40 |
Forfeited |  |  | (493,730 | ) |  | $ | 20.21 |
Restricted common units at December 31, 2012 |  |  | 7,786,972 |  |  | $ | 20.43 |
Granted (3) |  |  | 3,549,052 |  |  | $ | 28.61 |
Vested |  |  | (3,770,696 | ) |  | $ | 17.48 |
Forfeited |  |  | (344,114 | ) |  | $ | 23.82 |
Restricted common units at December 31, 2013 |  |  | 7,221,214 |  |  | $ | 25.83 |
Vested |  |  | (2,634,074 | ) |  | $ | 23.94 |
Forfeited |  |  | (357,350 | ) |  | $ | 26.38 |
Restricted common units at December 31, 2014 |  |  | 4,229,790 |  |  | $ | 26.96 |
(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 2012 was $82.5 million based on a grant date market price of our common units ranging from $25.96 to $26.77 per unit. An estimated annual forfeiture rate of 3.25% was applied to these awards. (3) The aggregate grant date fair value of restricted common unit awards issued during 2013 was $101.5 million based on a grant date market price of our common units ranging from $28.56 to $31.74 per unit. An estimated annual forfeiture rate of 3.9% was applied to these awards. |
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 Year Ended December 31, |
| 2014 |  | 2013 |  | 2012 |
Cash distributions paid to restricted common unitholders | $ | 7.3 |  | $ | 10.6 |  | $ | 10.5 |
Total intrinsic value of restricted common unit awards that vested during period | $ | 87.1 |  | $ | 109.9 |  | $ | 67.0 |
Unit Option Activity | The following table presents unit option award activity for the periods 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, 2011 |  |  | 7,506,840 |  |  | $ | 14.04 |  |  |  |  |  |  |
Exercised |  |  | (1,484,560 | ) |  | $ | 15.39 |  |  |  |  |  |  |
Forfeited |  |  | (500,000 | ) |  | $ | 13.73 |  |  |  |  |  |  |
Unit option awards at December 31, 2012 |  |  | 5,522,280 |  |  | $ | 13.71 |  |  |  |  |  |  |
Exercised |  |  | (1,472,280 | ) |  | $ | 14.98 |  |  |  |  |  |  |
Unit option awards at December 31, 2013 (2,3) |  |  | 4,050,000 |  |  | $ | 13.24 |  |  |  |  |  |  |
Exercised |  |  | (2,720,000 | ) |  | $ | 11.83 |  |  |  |  |  |  |
Forfeited |  |  | (60,000 | ) |  | $ | 16.14 |  |  |  |  |  |  |
Unit option awards at December 31, 2014 (2,3) |  |  | 1,270,000 |  |  | $ | 16.14 |  |  |  | 1.0 |  |  | $ | 25.4 |
(1) Aggregate intrinsic value reflects fully vested unit option awards at the date indicated. (2) At December 31, 2014 and 2013, we were committed to issue 1,270,000 and 4,050,000, respectively, of our common units if all outstanding unit option awards were exercised. All of the unit option awards outstanding at December 31, 2014 vested during 2014 and became exercisable beginning in February 2015. (3) None of the unit option awards outstanding at December 31, 2014, 2013 and 2012 were exercisable as of such dates, respectively. |
Supplemental Information Regarding Unit Options | The following table presents supplemental information regarding unit option awards during the periods indicated:
| For the Year Ended December 31, |
| 2014 |  | 2013 |  | 2012 |
Total intrinsic value of unit option awards exercised during period | $ | 57.5 |  | $ | 19.8 |  | $ | 14.6 |
Cash received from EPCO in connection with the exercise of unit option awards | $ | 33.4 |  | $ | 11.5 |  | $ | 10.2 |
Unit option award-related cash reimbursements to EPCO | $ | 57.5 |  | $ | 19.8 |  | $ | 14.0 |
Phantom Unit Awards | The following table presents phantom unit award activity for the period indicated:
|  | Number of Units |  |  | Weighted- Average Grant Date Fair Value per Unit (1) |
Phantom unit awards at December 31, 2013 |  |  | -- |  |  | $ | -- |
Granted (2) |  |  | 3,530,710 |  |  | $ | 33.12 |
Vested |  |  | (38,200 | ) |  | $ | 33.04 |
Forfeited |  |  | (150,120 | ) |  | $ | 33.12 |
Phantom unit awards at December 31, 2014 |  |  | 3,342,390 |  |  | $ | 33.13 |
(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 2014 was $117.0 million based on a grant date market price of our common units ranging from $33.04 to $37.59 per unit. An estimated annual forfeiture rate of 3.4% was applied to these awards. |
Cash Distributions and Total Intrinsic Value of Phantom Unit Awards | The following table presents supplemental information regarding our phantom unit awards for the periods indicated:
| For the Year Ended December 31, |
| 2014 |  | 2013 |  | 2012 |
Cash payments made in connection with DERs | $ | 3.7 |  | $ | -- |  | $ | -- |
Total intrinsic value of phantom unit awards that vested during period | $ | 1.4 |  | $ | -- |  | $ | -- |

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- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 14.F) -URI http://asc.fasb.org/extlink&oid=27013229&loc=d3e301413-122809 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 -Section F Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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