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Equity-Indexed Compensation Plans (Tables) | 9 Months Ended
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Sep. 30, 2014
Equity-Indexed Compensation Plans |
Summary of activity for PAA and PAGP long-term incentive plan awards under equity-indexed compensation plans | Equity-indexed compensation activity for PAA and PAGP LTIP awards is summarized in the following table (units and shares in millions):
|  |  |  | Weighted Average |  |  |  |  | Weighted Average |
|  |  |  | Grant Date |  |  |  |  | Grant Date |
|  | PAA Units (1) |  | Fair Value per Unit |  |  | PAGP Shares (1) |  | Fair Value per Share |
Outstanding at December 31, 2013 |  | 8.4 |  | $ | 36.97 |  |  | — |  | $ | — |
Granted |  | 1.1 |  | $ | 47.27 |  |  | 0.1 |  | $ | 27.84 |
Vested (2) |  | (1.9 | ) | $ | 25.54 |  |  | — |  | $ | — |
Cancelled or forfeited |  | (0.3 | ) | $ | 39.63 |  |  | — |  | $ | — |
Outstanding at September 30, 2014 |  | 7.3 |  | $ | 41.28 |  |  | 0.1 |  | $ | 27.84 |
(1) Amounts do not include AAP Management Units. (2) During the nine months ended September 30, 2014, approximately 0.6 million PAA common units were issued, net of approximately 0.3 million units withheld for taxes, in connection with the settlement of vested awards. The remaining PAA awards (approximately 1.0 million units) that vested during the nine months ended September 30, 2014 were settled in cash.
Summary of AAP Management Units | Activity for AAP Management Units is summarized in the following table (in millions):
|  | Reserved for Future Grants |  | Outstanding |  | Outstanding Units Earned |  |  | Grant Date Fair Value Of Outstanding AAP Management Units (1) |
Balance at December 31, 2013 |  | 3.5 |  | 48.6 |  | 47.0 |  |  | $ | 51 |
Granted |  | (0.4 | ) | 0.4 |  | — |  |  | 11 |
Earned |  | N/A |  | N/A |  | 0.8 |  |  | N/A |
Balance at September 30, 2014 |  | 3.1 |  | 49.0 |  | 47.8 |  |  | $ | 62 |
(1) Of the $62 million grant date fair value, approximately $54 million had been recognized through September 30, 2014. Approximately $5 million of such amount was recognized as expense during the nine months ended September 30, 2014.
Summary of expense recognized and value of vested long-term incentive plan awards under equity-indexed compensation plans | The table below summarizes the expense recognized and the value of vested LTIPs (settled both in PAA common units and cash) under our equity-indexed compensation plans and includes both liability-classified and equity-classified awards (in millions):
|  | Three Months Ended September 30, |  | Nine Months Ended September 30, |
|  | 2014 |  | 2013 |  | 2014 |  | 2013 |
Equity-indexed compensation expense |  | $ | 22 |  | $ | 17 |  | $ | 91 |  | $ | 96 |
LTIP unit-settled vestings |  | $ | 1 |  | $ | 1 |  | $ | 52 |  | $ | 47 |
LTIP cash-settled vestings |  | $ | — |  | $ | — |  | $ | 52 |  | $ | 61 |
DER cash payments |  | $ | 2 |  | $ | 2 |  | $ | 6 |  | $ | 5 |

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- Definition Tabular disclosure of the changes in equity-indexed compensation plan awards for members of senior management. Includes changes in units reserved for future grants, units outstanding and units earned. + References No definition available. + Details
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- Definition Disclosure that sets forth the equity-indexed compensation plan expense, the fair value of vesting (settled both in units and cash) related to the equity-indexed compensation plans, and the cash payments related to distribution equivalent rights for the period. + References No definition available. + Details
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- Definition Tabular disclosure of the changes in outstanding nonvested performance-based units. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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