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Unit-Based Compensation
 3 Months Ended
Mar. 31, 2017
Share-based Compensation [Abstract]  
Unit-Based Compensation
Unit-Based Compensation
Unit-based compensation expense related to the Partnership included in our Consolidated Statements of Operations and Comprehensive Income was as follows:
 
For the Three Months Ended March 31,
 
2017
 
2016
 
(in millions)
Phantom common units
$
4

 
$
3

Allocated expense from Parent
—

 
—

Total unit-based compensation expense
$
4

 
$
3

  
Phantom Common Unit Awards
The Partnership issues phantom units which have the right to receive distributions prior to vesting. The units vest 60% after three years and 40% after five years. The fair value of these units is the market price of our common units on the grant date, and is amortized over the five-year vesting period using the straight-line method. Unrecognized compensation cost related to our nonvested restricted phantom units totaled $35 million as of March 31, 2017, which is expected to be recognized over a weighted average period of 4.06 years. The fair value of nonvested phantom units outstanding as of March 31, 2017 totaled $68 million.
A summary of our phantom unit award activity is as follows:
 
Number of Phantom Common Units
 
Weighted-Average Grant Date Fair Value
Outstanding at December 31, 2015
1,147,048

 
$
41.19

Granted
966,337

 
26.95

Vested
(1,240
)
 
36.98

Forfeited
(98,511
)
 
39.77

Outstanding at December 31, 2016
2,013,634

 
34.43

Granted
20,112

 
26.27

Vested
(8,557
)
 
47.96

Forfeited
(34,880
)
 
36.67

Outstanding at March 31, 2017
1,990,309

 
$
34.22


 Cash Awards
In January 2015, the Partnership granted 30,710 awards that are settled in cash under the terms of the Sunoco LP Long-Term Cash Restricted Unit Plan. An additional 1,000 awards were granted in September 2015. During the three months ended March 31, 2017, 3,400 units were forfeited. These awards do not have the right to receive distributions prior to vesting. The awards vest 100% after three years. Unrecognized compensation cost related to our nonvested cash awards totaled $0.3 million as of March 31, 2017, which is expected to be recognized during 2017. The fair value of nonvested cash awards outstanding as of March 31, 2017 totaled $1 million.