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Equity Compensation Plans (Tables) | 6 Months Ended
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Jun. 30, 2012
Equity Compensation Plans |
Summary of Class B unit awards |
The following table contains a summary of Plains AAP, L.P. Class B Unit awards:
|  | Reserved for Future Grants |  | Outstanding |  | Outstanding Units Earned |  | Grant Date Fair Value of Oustanding Class B Units (1) |
Balance as of December 31, 2011 |  | 16,500 |  | 183,500 |  | 80,063 |  | $ | 44 |
Forfeitures |  | 1,000 |  | (1,000 | ) | — |  | $ | — |
Earned |  | — |  | — |  | 24,250 |  | $ | — |
Balance as of June 30, 2012 |  | 17,500 |  | 182,500 |  | 104,313 |  | $ | 44 |
(1) Of the grant date fair value, approximately $5 million was recognized as expense during the six months ended June 30, 2012.
Summary of equity compensation activity |
Our equity compensation activity for awards denominated in PAA and PNG units is summarized in the following table (units in millions):
|  | PAA Units (1)(5) |  | PNG Units (2)(3)(4)(6) |
|  | Units |  | Weighted Average Grant Date Fair Value per Unit |  | Units |  | Weighted Average Grant Date Fair Value per Unit |
Outstanding, December 31, 2011 |  | 4.0 |  | $ | 43.53 |  | 0.8 |  | $ | 20.55 |
Granted |  | 0.7 |  | $ | 66.28 |  | 0.1 |  | $ | 15.05 |
Vested |  | (1.5 | ) | $ | 39.30 |  | — |  | $ | 23.67 |
Cancelled or forfeited |  | (0.1 | ) | $ | 59.32 |  | — |  | $ | — |
Outstanding, June 30, 2012 |  | 3.1 |  | $ | 50.58 |  | 0.9 |  | $ | 17.56 |
(1) Amounts do not include Class B units of Plains AAP, L.P. (2) Amounts do not include Class B units of PNGS GP LLC. (3) Amounts include PNG Transaction Grants. (4) Weighted average grant date fair value per unit for PNG Units outstanding at June 30, 2012 is impacted by the modification of PNG awards during the first quarter of 2012 as discussed above. (5) Approximately 0.4 million common units were issued, net of approximately 0.3 million units withheld for taxes, for PAA units that vested during the six months ended June 30, 2012. The remaining 0.8 million PAA units that vested were settled in cash. (6) Less than 0.1 million common units vested during the six months ended June 30, 2012.
Summary of expense recognized and value of vesting related to equity compensation plans |
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, |
|  | 2012 |  | 2011 |  | 2012 |  | 2011 |
Equity compensation expense |  | $ | 20 |  | $ | 27 |  | $ | 60 |  | $ | 46 |
LTIP unit-settled vestings (1) |  | $ | 33 |  | $ | 23 |  | $ | 58 |  | $ | 23 |
LTIP cash-settled vestings |  | $ | 29 |  | $ | 18 |  | $ | 65 |  | $ | 18 |
DER cash payments |  | $ | 2 |  | $ | 1 |  | $ | 4 |  | $ | 2 |
(1) For each of the three and six months ended June 30, 2012 and June 30, 2011, approximately $1 million relates to unit vestings that were settled with PNG units.

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- Definition Tabular disclosure of the changes in a particular unit class of the general partner. Includes changes in units reserved for future grants and outstanding units. + References No definition available. + Details
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- Definition Disclosure that sets forth the equity compensation plan expense, the fair value of vesting (settled both in units and cash) related to the equity compensation plans, and the cash payments related to distribution equivalent rights for the period. + References No definition available. + Details
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