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Equity Compensation Plans
 6 Months Ended
Jun. 30, 2011
Equity Compensation Plans.  
Equity Compensation Plans

Note 11—Equity Compensation Plans

 

For discussion of our equity compensation awards, see Note 10 to our Consolidated Financial Statements included in Part IV of our 2010 Annual Report on Form 10-K.

 

Our equity compensation activity for awards denominated in PAA and PNG units is summarized in the following table (units in millions):

 

 

 

PAA Units

 

 

PNG Units

 

 

 

Units

 

Weighted Average Grant
Date
Fair Value per Unit

 

 

Units

 

Weighted Average Grant
Date
Fair Value per Unit

 

Outstanding, December 31, 2010

 

4.4

 

$

41.69

 

 

1.0

 

$

20.55

 

Granted

 

0.3

 

$

54.50

 

 

—

 

$

—

 

Vested

 

(0.6

)

$

40.88

 

 

(0.1

)

$

23.67

 

Cancelled or forfeited

 

(0.1

)

$

41.56

 

 

—

 

$

—

 

Outstanding, June 30, 2011

 

4.0

 

$

43.06

 

 

0.9

 

$

20.41

 

 

The table below summarizes the expense recognized and the value of vesting (settled both in units and cash) related to our equity compensation plans (in millions):

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

June 30,

 

June 30,

 

 

 

2011

 

2010

 

2011

 

2010

 

Equity compensation expense

 

$

27

 

$

14

 

$

46

 

$

33

 

LTIP unit vestings (1)

 

$

23

 

$

25

 

$

23

 

$

25

 

LTIP cash settled vestings

 

$

18

 

$

10

 

$

18

 

$

10

 

DER cash payments

 

$

1

 

$

1

 

$

2

 

$

2

 

 

 

(1)                      For the three and six months ended June 30, 2011, approximately $1 million relates to unit vestings which were settled with PNG units.