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Related Party Transactions | 9 Months Ended
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Sep. 30, 2015
Related Party Transactions [Abstract] |
Related Party Transactions | 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, |
|  | 2015 |  |  | 2014 |  |  | 2015 |  |  | 2014 |
Revenues – related parties: |  |  |  |  |  |  |  |  |  |  |  |
Unconsolidated affiliates |  | $ | 13.9 |  |  | $ | 11.0 |  |  | $ | 27.3 |  |  | $ | 63.8 |
Costs and expenses – related parties: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
EPCO and its privately held affiliates |  | $ | 246.0 |  |  | $ | 212.8 |  |  | $ | 703.9 |  |  | $ | 688.0 |
Unconsolidated affiliates |  |  | 66.9 |  |  |  | 35.8 |  |  |  | 165.3 |  |  |  | 138.4 |
Total |  | $ | 312.9 |  |  | $ | 248.6 |  |  | $ | 869.2 |  |  | $ | 826.4 |
The following table summarizes our related party accounts receivable and accounts payable balances at the dates indicated:
|  | September 30, 2015 |  |  | December 31, 2014 |
Accounts receivable - related parties: |  |  |  |  |  |
Unconsolidated affiliates |  | $ | 1.7 |  |  | $ | 2.8 |
Accounts payable - related parties: |  |  |  |  |  |  |  |
EPCO and its privately held affiliates |  | $ | 64.6 |  |  | $ | 98.1 |
Unconsolidated affiliates |  |  | 15.7 |  |  |  | 20.8 |
Total |  | $ | 80.3 |  |  | $ | 118.9 |
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 its Privately Held 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, 2015, 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
675,259,617 | 33.7%
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 certain of the privately held affiliates at September 30, 2015. 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, 2015 and 2014, we paid EPCO and its privately held affiliates cash distributions totaling $705.9 million and $652.8 million, respectively. Distributions paid during the nine months ended September 30, 2015 excluded 35,380,000 Designated Units (see Note 11). Likewise, distributions paid during the nine months ended September 30, 2014 excluded 45,120,000 Designated Units. From time-to-time, EPCO and its privately held affiliates elect to reinvest a portion of the cash distributions they receive from us into the purchase of additional common units under our DRIP. These purchases totaled $50 million and $75 million for the nine months ended September 30, 2015 and 2014, respectively. In addition, a total of $50 million of distributions were reinvested in connection with the distribution we paid on November 6, 2015. In March 2015, a privately held affiliate of EPCO purchased 3,225,057 common units from us under our ATM program for $31.01 per unit. See Note 11 for additional information regarding our DRIP and ATM program. 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, |
|  | 2015 |  |  | 2014 |  |  | 2015 |  |  | 2014 |
Operating costs and expenses |  | $ | 215.3 |  |  | $ | 179.0 |  |  | $ | 612.2 |  |  | $ | 591.6 |
General and administrative expenses |  |  | 26.4 |  |  |  | 29.6 |  |  |  | 78.8 |  |  |  | 84.5 |
Total costs and expenses |  | $ | 241.7 |  |  | $ | 208.6 |  |  | $ | 691.0 |  |  | $ | 676.1 |

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39603-107864 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39622-107864 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39678-107864 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(k)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph b -Article 3A + Details
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