v3.23.1
Employee Incentive Plans (Tables)
 3 Months Ended
Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Amounts Recognized in Consolidated Financial Statements
Amounts recognized on the consolidated financial statements with respect to these plans are as follows (in millions):
Three Months Ended
March 31,
20232022
Cost of unit-based compensation charged to operating expense$0.9 $1.6 
Cost of unit-based compensation charged to general and administrative expense3.1 5.0 
Total unit-based compensation expense$4.0 $6.6 
Amount of related income tax benefit recognized in net income (1)$0.9 $1.6 
____________________________
(1)For the three months ended March 31, 2023 and 2022, the amount of related income tax benefit recognized in net income excluded $6.5 million of income tax benefit and $2.0 million of income tax expense, respectively, related to book-to-tax differences recorded upon the vesting of unit-based awards.
Schedule Of Restricted Stock Units Activity, ENLC A summary of the restricted incentive unit activity for the three months ended March 31, 2023 is provided below:
Three Months Ended
March 31, 2023
Restricted Incentive Units:Number of UnitsWeighted Average Grant-Date Fair Value
Unvested, beginning of period6,775,186 $5.89 
Granted1,244,629 10.85 
Vested (1)(2,201,569)6.07 
Forfeited(55,101)5.61 
Unvested, end of period5,763,145 $6.90 
Aggregate intrinsic value, end of period (in millions)$62.5  
____________________________(1)Vested units included 658,435 ENLC common units withheld for payroll taxes paid on behalf of employees.
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units, Vested and Fair Value Vested, ENLC A summary of the restricted incentive units’ aggregate intrinsic value (market value at vesting date) and fair value of units vested (market value at date of grant) for the three months ended March 31, 2023 and 2022 is provided below (in millions):
Three Months Ended
March 31,
Restricted Incentive Units:20232022
Aggregate intrinsic value of units vested$27.1 $7.6 
Fair value of units vested$13.4 $10.7 
Summary of Performance Units, ENLC
The following table presents a summary of the performance units:
Three Months Ended
March 31, 2023
Performance Units:Number of UnitsWeighted Average Grant-Date Fair Value
Non-vested, beginning of period2,979,154 $6.44 
Granted420,128 11.67 
Vested (1)(899,919)9.03 
Non-vested, end of period2,499,363 $6.39 
Aggregate intrinsic value, end of period (in millions)$27.1 
____________________________
(1)Vested units included 668,829 ENLC common units withheld for payroll taxes paid on behalf of employees.

A summary of the performance units’ aggregate intrinsic value (market value at vesting date) and fair value of units vested (market value at date of grant) for the three months ended March 31, 2023 and 2022 is provided below (in millions).

 Three Months Ended
March 31,
Performance Units:20232022
Aggregate intrinsic value of units vested$22.0 $5.6 
Fair value of units vested$8.1 $11.0 
Summary of Grant-Date Fair Values The following table presents a summary of the grant-date fair value assumptions by performance unit grant date:
Performance Units:March 2023
Grant-date fair value$10.40 
Beginning TSR Price$11.67 
Risk-free interest rate3.76 %
Volatility factor64.00 %