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Equity-Indexed Compensation Plans (Tables)
 12 Months Ended
Dec. 31, 2017
Equity-Indexed Compensation Plans  
Summary of shares authorized
The following is a summary of the awards authorized under our LTIPs as of December 31, 2017 (in millions):
LTIP
 
PAA LTIP
Awards Authorized
Plains All American 2013 Long-Term Incentive Plan
 
13.1

Plains All American PNG Successor Long-Term Incentive Plan
 
1.3

Plains All American GP LLC 2006 Long-Term Incentive Tracking Unit Plan
 
10.8

Total
 
25.2
Summary of expense recognized and the value of vested LTIP awards under equity-indexed compensation plans
The table below summarizes the expense recognized and the value of vested LTIP awards (settled both in common units and cash) under our equity-indexed compensation plans and includes both liability-classified and equity-classified awards (in millions):

 
Year Ended December 31,
 
2017
 
2016
 
2015
Equity-indexed compensation expense
$
41

 
$
60

 
$
27

LTIP unit-settled vestings
$
16

 
$
24

 
$
37

LTIP cash-settled vestings
$
25

 
$
28

 
$
66
Estimated equity-indexed compensation plan fair value amortization
We estimate that the remaining fair value will be recognized in expense as shown below (in millions):

Year
 
Equity-Indexed
Compensation Plan Fair Value
Amortization (1)
2018
 
$
42

2019
 
21

2020
 
9

2021
 
2

2022
 
1

Total
 
$
75


(1) 
Amounts do not include fair value associated with awards containing performance conditions that are not considered to be probable of occurring at December 31, 2017.
LTIP  
Equity-Indexed Compensation Plans  
Summary of activity for equity-indexed compensation plans
Activity for LTIP awards under our equity-indexed compensation plans denominated in PAA units is summarized in the following table (units in millions):
 
PAA Units (1)
 
Units
 
Weighted Average
Grant Date
Fair Value per Unit
Outstanding at December 31, 2014
7.3

 
$
41.45

Granted
2.1

 
$
28.76

Vested
(2.1
)
 
$
28.91

Cancelled or forfeited
(0.4
)
 
$
44.56

Outstanding at December 31, 2015
6.9

 
$
41.23

Granted
4.5

 
$
23.38

Vested
(1.9
)
 
$
45.91

Modified
—

 
$
(8.21
)
Cancelled or forfeited
(0.6
)
 
$
37.19

Outstanding at December 31, 2016
8.9

 
$
29.62

Granted
0.9

 
$
23.52

Vested
(1.7
)
 
$
42.12

Modified
—

 
$
(6.04
)
Cancelled or forfeited
(0.8
)
 
$
26.99

Outstanding at December 31, 2017
7.3

 
$
24.68

 
(1) 
Approximately 0.6 million, 0.5 million and 0.5 million PAA common units were issued, net of tax withholding of approximately 0.2 million, 0.3 million and 0.3 million units during 2017, 2016 and 2015, respectively, in connection with the settlement of vested awards. The remaining PAA awards (approximately 0.9 million, 1.1 million and 1.3 million units) that vested during 2017, 2016 and 2015, respectively, were settled in cash.