ENLINK MIDSTREAM PARTNERS, LP, 10-Q filed on 5/6/2015
Quarterly Report
Document and Entity Information
3 Months Ended
Mar. 31, 2015
Apr. 24, 2015
Document Information [Line Items]
 
 
Document Type
10-Q 
 
Document Fiscal Period Focus
Q1 
 
Document Period End Date
Mar. 31, 2015 
 
Document Fiscal Year Focus
2015 
 
Amendment Flag
false 
 
Entity Registrant Name
EnLink Midstream Partners, LP 
 
Entity Central Index Key
0001179060 
 
Entity Current Reporting Status
Yes 
 
Entity Voluntary Filers
No 
 
Current Fiscal Year End Date
--12-31 
 
Entity Filer Category
Large Accelerated Filer 
 
Entity Well-known Seasoned Issuer
Yes 
 
Entity Common Stock, Shares Outstanding
 
252,712,424 
Common Class C [Member]
 
 
Document Information [Line Items]
 
 
Entity Common Stock, Shares Outstanding
 
6,704,285 
Class D Common Units [Member]
 
 
Document Information [Line Items]
 
 
Entity Common Stock, Shares Outstanding
 
31,618,311 
Condensed Consolidated Balance Sheets (USD $)
In Millions, unless otherwise specified
Mar. 31, 2015
Dec. 31, 2014
Current assets:
 
 
Cash and cash equivalents
$ 34.2 
$ 9.6 
Accounts receivable:
 
 
Trade, net of allowance for bad debt
76.5 
139.0 
Accrued revenue and other
304.2 
253.3 
Related party
113.7 
120.8 
Fair value of derivative assets
14.3 
16.7 
Natural gas and NGLs inventory, prepaid expenses and other
50.7 
30.8 
Total current assets
593.6 
570.2 
Property and equipment, net of accumulated depreciation of $1,500.7 and $1,422.3, respectively
5,323.4 
4,934.3 
Intangible assets, net of accumulated amortization of $48.2 and $36.5, respectively
877.6 
533.0 
Goodwill
2,283.1 
2,257.8 
Fair value of derivative assets
7.6 
10.0 
Investments in unconsolidated affiliates
267.8 
270.8 
Other assets, net
17.8 
16.6 
Total assets
9,370.9 
8,592.7 
Current liabilities:
 
 
Accounts payable and drafts payable
69.2 
121.7 
Accounts payable to related party
11.1 
3.0 
Accrued gas, NGLs, condensate and crude oil purchases
269.7 
204.5 
Fair value of derivative liabilities
3.0 
3.0 
Accrued interest
37.6 
16.9 
Other current liabilities
132.6 
128.9 
Total current liabilities
523.2 
478.0 
Long-term debt
2,493.7 
2,022.5 
Fair value of derivative liabilities
1.5 
2.0 
Asset retirement obligation
11.0 
10.9 
Other long-term liabilities
79.3 
84.0 
Deferred tax liability
77.0 
73.1 
Redeemable non-controlling interest
4.9 
0 
Common unitholders (283,991,722 units issued and outstanding at March 31, 2015 and 245,421,549 units issued and outstanding at December 31, 2014)
5,343.8 
5,259.2 
Class C unitholders (6,704,285 units issued and outstanding at March 31, 2015)
180.1 
0 
General partner interest (1,594,974 equivalent units outstanding at March 31, 2015 and 1,594,974 equivalent units outstanding at December 31, 2014)
126.5 
116.6 
Non Controlling Interest
529.9 
546.4 
Total partners' equity
6,180.3 
5,922.2 
Commitments and Contingencies
   
   
Total liabilities and partners’ equity
$ 9,370.9 
$ 8,592.7 
Condensed Consolidated Balance Sheets (Parenthetical) (USD $)
In Millions, except Share data, unless otherwise specified
Mar. 31, 2015
Dec. 31, 2014
Assets, Noncurrent [Abstract]
 
 
Allowance for bad debt
$ 0 
$ 0 
Property and equipment, accumulated depreciation
1,500.7 
1,422.3 
Intangible assets, accumulated amortization
$ 48.2 
$ 36.5 
Common Stock, Shares, Issued
283,991,722 
245,421,549 
General Partners' Capital Account, Units Issued
1,594,974 
1,594,974 
Other Ownership Interests, Units Outstanding
6,704,285 
0 
Condensed Consolidated Statements of Operations (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Revenues:
 
 
Revenues
$ 773.1 
$ 232.4 
Revenues - affiliates
163.0 
491.9 
Gain (loss) on derivative activity
0.2 
(1.3)
Total revenues
936.3 
723.0 
Operating costs and expenses:
 
 
Purchased gas, NGLs, condensate and crude oil (1)
657.4 
538.9 
Operating expenses (2)
96.2 
46.2 
General and administrative (3)
41.9 
15.3 
Depreciation and amortization
90.0 
48.2 
Total operating costs and expenses
885.5 
648.6 
Operating income
50.8 
74.4 
Other income (expense):
 
 
Interest expense, net of interest income
(18.9)
(4.8)
Equity in income of equity investment
3.7 
4.2 
Other income (expense)
0.6 
(0.7)
Total other expense
(14.6)
(1.3)
Income from continuing operations before non-controlling interest and income taxes
36.2 
73.1 
Income tax provision
(1.2)
(19.6)
Net income from continuing operations
35.0 
53.5 
Discontinued Operations:
 
 
Income from discontinued operations, net of tax
0 
1.0 
Discontinued operations, net of tax
0 
1.0 
Net income
35.0 
54.5 
Net income attributable to the non-controlling interest
15.4 
5.3 
Net income attributable to EnLink Midstream Partners, LP
19.6 
49.2 
Predecessor interest in net income (4)
0 
35.5 
General partner interest in net income
10.5 
6.0 
Limited partners’ interest in net income attributable to EnLink Midstream Partners, LP
9.0 
7.7 
Net Income (Loss) Allocated to Class C Partner
$ 0.1 
$ 0 
Net income attributable to EnLink Midstream Partners, LP per limited partners' unit:
 
 
Basic per common unit
$ 0.03 
$ 0.03 
Diluted per common unit
$ 0.03 
$ 0.03 
Condensed Consolidated Statements of Operations (parenthetical) (USD $)
In Millions, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Affiliate purchased gas, NGLs, condensate and crude
$ 657.4 
$ 538.9 
Affiliate general and administrative expense
41.9 
15.3 
Affiliated Entity [Member]
 
 
Affiliate purchased gas, NGLs, condensate and crude
7.9 
325.8 
Operating expenses - affiliates
 
5.9 
Affiliate general and administrative expense
 
$ 8.3 
Consolidated Statements of Changes in Partners' Equity (USD $)
In Millions, unless otherwise specified
Total
Common Units
General Partner Interest
Noncontrolling Interest [Member]
Common Class C [Member]
Redeemable Noncontrolling Interest, Equity, Common, Carrying Amount at Dec. 31, 2014
$ 0 
 
 
 
 
Balance at Dec. 31, 2014
5,922.2 
5,259.2 
116.6 
546.4 
0 
Balance (Shares) at Dec. 31, 2014
 
245.4 
1.6 
 
0 
Increase (Decrease) in Partners' Capital
 
 
 
 
 
Issuance of common units
362.2 
182.2 
 
 
180.0 
Issuance of common units for acquisition of Partnership, shares
 
38.4 
 
 
6.7 
Conversion of restricted units for common units, net of units withheld for taxes
(2.4)
(2.4)
 
 
 
Restricted Stock, Shares Issued Net of Shares for Tax Withholdings
 
(0.2)
 
 
 
Unit-based compensation
13.8 
6.8 
7.0 
 
 
Contribution from Devon
2.2 
2.2 
 
 
 
Distributions
(99.9)
(92.3)
(7.6)
 
 
Noncontrolling Interest contributions
2.7 
 
 
2.7 
 
Distributions to non-controlling interest
(45.2)
 
 
(45.2)
 
Adjustment related to mandatory redemption of E2 non-controlling interest
(5.4)
 
 
(5.4)
 
Redeemable non-controlling interest
(4.9)
 
 
(4.9)
 
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
35.0 
9.0 
10.5 
15.4 
0.1 
Increase (Decrease) in Temporary Equity
 
 
 
 
 
Redeemable Noncontrolling Interest Reclassifications Between Permanen And Temporary Equity
4.9 
 
 
 
 
Partners' Capital, Other
0 
(20.9)
 
20.9 
 
Redeemable Noncontrolling Interest, Equity, Common, Carrying Amount at Mar. 31, 2015
4.9 
 
 
 
 
Balance at Mar. 31, 2015
$ 6,180.3 
$ 5,343.8 
$ 126.5 
$ 529.9 
$ 180.1 
Balance (Shares) at Mar. 31, 2015
 
284.0 
1.6 
 
6.7 
Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Statement of Cash Flows [Abstract]
 
 
Net income from continuing operations
$ 35.0 
$ 53.5 
Adjustments to reconcile net income to net cash provided by operating activities:
 
 
Depreciation and amortization
90.0 
48.2 
Accretion expense
0.1 
0.2 
Deferred tax expense
0 
19.5 
Non-cash unit-based compensation
13.8 
1.2 
(Gain) loss on derivatives recognized in net income
(0.2)
1.3 
Cash settlements on derivatives
3.9 
(0.6)
Amortization of debt issue costs
0.6 
0.1 
Amortization of premium on notes
(0.8)
(0.4)
Redeemable Non Controlling Interest Expense
(2.6)
0 
Distribution of earnings from equity investment
2.7 
0.1 
Equity in income of equity investments
(3.7)
(4.2)
Changes in assets and liabilities:
 
 
Accounts receivable, accrued revenue and other
119.1 
46.0 
Natural gas and NGLs inventory, prepaid expenses and other
(16.3)
(7.3)
Accounts payable, accrued gas and crude oil purchases and other accrued liabilities
(71.0)
(35.1)
Net cash provided by operating activities
170.6 
122.5 
Cash flows from investing activities:
 
 
Additions to property and equipment
(154.2)
(97.8)
Acquisition of business
(312.0)
(29.3)
Distribution from equity investment company in excess of earnings
4.1 
2.6 
Net cash used in investing activities
(462.1)
(124.5)
Cash flows from financing activities:
 
 
Proceeds from borrowings
959.1 
1,247.9 
Payments on borrowings
(487.1)
(997.0)
Payments on capital lease obligations
(1.0)
(0.8)
Decrease in drafts payable
(12.7)
(2.6)
Debt refinancing costs
(1.8)
(4.9)
Conversion of restricted units, net of units withheld for taxes
(2.4)
0 
Proceeds from issuance of common units
2.2 
0 
Distributions to non-controlling partners
(45.2)
0 
Contributions by non-controlling partners
2.7 
0.4 
Distributions to partners
(99.9)
0 
Contributions from Devon
2.2 
0 
Distributions to Predecessor
0 
(22.1)
Net cash provided by financing activities
316.1 
220.9 
Net cash provided by operating activities
0 
5.0 
Net cash used in investing activities
0 
(0.6)
Net cash used in financing activities – net distributions to Devon and non-controlling interests
0 
(4.4)
Net cash provided by discontinued operations
0 
0 
Net increase in cash and cash equivalents
24.6 
218.9 
Cash and cash equivalents, beginning of period
9.6 
0.1 
Cash and cash equivalents, end of period
34.2 
219.0 
Cash paid for interest
2.1 
4.6 
Cash refund for income taxes
$ 0.1 
$ 0 
General
General
(1) General

In this report, the term “Partnership,” as well as the terms “our,” “we,” “us” and “its,” are sometimes used as abbreviated references to EnLink Midstream Partners, LP itself or EnLink Midstream Partners, LP together with its consolidated subsidiaries, including the Operating Partnership (as defined below) and Midstream Holdings (as defined below) and their consolidated subsidiaries. The term “Midstream Holdings” is sometimes used to refer to EnLink Midstream Holdings, LP itself or to EnLink Midstream Holdings, LP together with EnLink Midstream Holdings GP, LLC and their subsidiaries.

(a)Organization of Business
EnLink Midstream Partners, LP is a publicly traded Delaware limited partnership formed in 2002. Our common units are traded on the New York Stock Exchange under the symbol “ENLK.” Our business activities are conducted through our subsidiary, EnLink Midstream Operating, LP, a Delaware limited partnership (the “Operating Partnership”), and the subsidiaries of the Operating Partnership.

EnLink Midstream GP, LLC, a Delaware limited liability company, is our general partner (the “General Partner”). Our General Partner manages our operations and activities. Our General Partner is an indirect wholly-owned subsidiary of EnLink Midstream, LLC (“ENLC”). ENLC’s units are traded on the New York Stock Exchange under the symbol “ENLC.” Devon Energy Corporation ("Devon") owns ENLC's managing member and common units which represent approximately 70% of the outstanding limited liability company interests in ENLC.

Effective as of March 7, 2014, the Operating Partnership acquired (the “Acquisition”) 50% of the outstanding equity interests in EnLink Midstream Holdings, LP (“Midstream Holdings”) and all of the outstanding equity interests in EnLink Midstream Holdings GP, LLC, the general partner of Midstream Holdings, in exchange for the issuance by the Partnership of 120,542,441 units representing limited partnership interests in the Partnership. At the same time, EnLink Midstream, Inc. (“EMI”), the entity that directly owns our General Partner, became a wholly-owned subsidiary of ENLC (together with the Acquisition, the “business combination”). At the conclusion of the business combination, another wholly-owned subsidiary of ENLC, Acacia Natural Gas Corp. I, Inc. (“Acacia”), owned the remaining 50% of the outstanding equity interests in Midstream Holdings. On February 17, 2015, Acacia contributed a 25% interest in Midstream Holdings to us in exchange for 31,618,311 Class D Common Units in the Partnership. See Note (3) - Acquisitions for further discussion.

(b)Nature of Business
The Partnership primarily focuses on providing midstream energy services, including gathering, transmission, processing, fractionation and marketing, to producers of natural gas, natural gas liquids ("NGLs"), crude oil and condensate. We connect the wells of natural gas producers in our market areas to our gathering systems, process natural gas for the removal of NGLs, fractionate NGLs into purity products and market those products for a fee, transport natural gas and ultimately provide natural gas to a variety of markets. We purchase natural gas from natural gas producers and other supply sources and sell that natural gas to utilities, industrial consumers, other marketers and pipelines. We operate processing plants that process gas transported to the plants by major interstate pipelines or from our own gathering systems under a variety of fee-based arrangements. We provide a variety of crude oil and condensate services, which include crude oil and condensate gathering and transmission via pipelines, barges, rail and trucks and brine disposal. Our gas gathering systems consist of networks of pipelines that collect natural gas from points near producing wells and transport it to larger pipelines for further transmission. Our transmission pipelines primarily receive natural gas from our gathering systems and from third party gathering and transmission systems and deliver natural gas to industrial end-users, utilities and other pipelines. We also have transmission lines that transport NGLs from east Texas and our south Louisiana processing plants to our fractionators in south Louisiana. Our crude oil and condensate gathering and transmission systems consist of trucking facilities, pipelines, rail and barge facilities that, in exchange for a fee, transport oil from producers to end users and other pipelines. Our processing plants remove NGLs and CO2 from a natural gas stream and our fractionators separate the NGLs into separate NGL products, including ethane, propane, iso-butane, normal butane and natural gasoline.
Significant Accounting Policies
Significant Accounting Policies [Text Block]
(2) Significant Accounting Policies

(a) Basis of Presentation

The accompanying condensed consolidated financial statements are prepared in accordance with the instructions to Form 10-Q, are unaudited and do not include all the information and disclosures required by generally accepted accounting principles in the United States of America ("GAAP") for complete financial statements. All adjustments that, in the opinion of management, are necessary for a fair presentation of the results of operations for the interim periods have been made and are of a recurring nature unless otherwise disclosed herein. The results of operations for such interim periods are not necessarily indicative of results of operations for a full year. All significant intercompany balances and transactions have been eliminated in consolidation.

Further, the unaudited consolidated financial statements give effect to the business combination and related transactions discussed in Note 1(a) above under the acquisition method of accounting and are treated as a reverse acquisition. Under the acquisition method of accounting, Midstream Holdings was the accounting acquirer in the transactions because its parent company, Devon, obtained control of the Partnership through the indirect control of the General Partner as a result of the business combination. All financial results prior to March 7, 2014 reflect the historical operations of Midstream Holdings and are reflected as Predecessor income on the statement of operations. Additionally, the Partnership’s assets acquired and liabilities assumed by Midstream Holdings in the business combination were recorded at their fair values measured as of the acquisition date, March 7, 2014. The excess of the purchase price over the estimated fair values of the Partnership’s net assets acquired was recorded as goodwill. Financial results subsequent to March 7, 2014 reflect the combined operations of Midstream Holdings and the Partnership, which give effect to new contracts entered into with Devon and include the legacy Partnership assets. Certain assets were not contributed to Midstream Holdings from the Predecessor and the operations of such non contributed assets have been presented as discontinued operations. In conjunction with the business combination, Midstream Holdings became a non-taxable entity which was treated as a reorganization under common control with the removal of historical deferred taxes reflected through equity.

During the fourth quarter of 2014 and the first quarter of 2015, the Partnership acquired assets from ENLC through drop down transactions. Because ENLC controls the Partnership through its ownership and control of the General Partner, each acquisition from ENLC was considered a transfer of net assets between entities under common control, and the Partnership also was required to recast its financial statements as of March 31, 2015 to include the activities of such assets from the date of common control. The consolidated financial statements for periods prior to the Partnership’s acquisition of the assets from ENLC have been prepared from ENLC’s historical cost-basis accounts for the acquired assets and may not necessarily be indicative of the actual results of operations that would have occurred if the Partnership had owned the acquired assets during the periods reported. Net income attributable to the assets acquired from ENLC for periods prior to the Partnership’s acquisition is allocated to the general partner.

(b) Redeemable Non-Controlling Interest

Non-controlling interests that contain an option for the non-controlling interest holder to require the Partnership to buy out such interests for cash are considered to be redeemable non-controlling interests because the redemption feature is not deemed to be a freestanding financial instrument and because the redemption is not solely within the control of the Partnership. Redeemable non-controlling interest is not considered to be a component of partners' equity and is reported as temporary equity in the mezzanine section on the Condensed Consolidated Balance Sheets. The amount recorded as redeemable non-controlling interest at each balance sheet date is the greater of the redemption value and the carrying value of the redeemable non-controlling interest (the initial carrying value increased or decreased for the non-controlling interest holders' share of net income or loss and distributions).

(c) Recent Accounting Pronouncements

In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”). ASU 2014-09 will replace existing revenue recognition requirements in GAAP and will require entities to recognize revenue at an amount that reflects the consideration to which the Partnership expects to be entitled in exchange for transferring goods or services to a customer. The new standard will also require significantly expanded disclosures regarding the qualitative and quantitative information of the Partnership's nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period, and is to be applied retrospectively, with early application not permitted. We are currently evaluating the impact the pronouncement will have on our consolidated financial statements and related disclosures. Subject to this evaluation, we have reviewed all recently issued accounting pronouncements that became effective during the three months ended March 31, 2015, and have determined that none would have a material impact on our Condensed Consolidated Financial Statements.
In April 2015, the FASB issued ASU No. 2015-06, Effects on Historical Earnings per Unit of Master Limited Partnership Dropdown Transactions (a Consensus of the FASB Emerging Issues Task Force), which requires a master limited partnership (MLP) to allocate earnings (losses) of a transferred business entirely to the general partner when computing earnings per unit (EPU) for periods before the dropdown transaction occurred. The EPU that the limited partners previously reported would not change as a result of the dropdown transaction. The ASU also requires an MLP to disclose the effects of the dropdown transaction on EPU for the periods before and after the dropdown transaction occurred.
Acquisition
Mergers Acquisitions And Dispositions Disclosures
(3) Acquisitions

Chevron Acquisition

Effective November 1, 2014, the Partnership acquired, from affiliates of Chevron Corporation, Gulf Coast natural gas pipeline assets predominantly located in southern Louisiana for approximately $231.5 million in cash. The natural gas assets include natural gas pipelines spanning from Beaumont, Texas to the Mississippi River corridor and working natural gas storage capacity in southern Louisiana. The transaction was accounted for using the acquisition method, which requires, among other things, that assets acquired and liabilities assumed be recognized at their fair values as of the acquisition date.

The following table presents the fair value of the identified assets received and liabilities assumed at the acquisition date.
Purchase Price Allocation (in millions):
 
 
Assets acquired:
 
 
Property, plant and equipment
 
$
225.3

Intangibles
 
13.0

Liabilities assumed:
 
 
Current liabilities
 
(6.8
)
Total identifiable net assets
 
$
231.5



The Partnership recognized intangible assets related to customer relationships. The acquired intangible assets will be amortized on a straight-line basis over the estimated customer contract life of approximately 20 years.

The purchase price allocation has been prepared on a preliminary basis pending receipt of a final valuation report and is subject to change. We incurred $0.3 million of direct transaction costs for the three months ended March 31, 2015. These costs are included in general and administrative costs in the accompanying Condensed Consolidated Statements of Operations.

For the period from January 1, 2015 to March 31, 2015, the Partnership recognized $7.1 million of revenues and $1.2 million of net income related to the assets acquired.

LPC Acquisition

On January 31, 2015, the Partnership acquired LPC Crude Oil Marketing LLC (“LPC”), which has crude oil gathering, transportation and marketing operations in the Permian Basin, for approximately $100.0 million. The transaction was accounted for using the acquisition method.

The following table presents the fair value of the identified assets received and liabilities assumed at the acquisition date.

Purchase Price Allocation (in millions):
 
 
Assets acquired:
 
 
Current assets (including $21.1 million in cash)
 
$
106.1

Property, plant and equipment
 
29.3

Intangibles
 
49.2

Goodwill
 
25.3

Liabilities assumed:
 
 
Current liabilities
 
(106.1
)
Deferred tax liability
 
(3.8
)
Total identifiable net assets
 
$
100.0


The Partnership recognized intangible assets related to customer relationships and trade name. The acquired intangible assets related to customer relationships will be amortized on a straight-line basis over the estimated customer contract life of approximately 10 years.

The purchase price allocation has been prepared on a preliminary basis pending receipt of a final valuation report and is subject to change. Goodwill recognized from the acquisition primarily relates to the value created from additional growth opportunities and greater operating leverage in the Permian Basin. The goodwill is allocated to our Crude and Condensate segment. All of the goodwill is non-deductible for tax purposes.

We incurred $0.2 million of direct transaction costs for the three months ended March 31, 2015. These costs are included in general and administrative costs in the accompanying Condensed Consolidated Statements of Operations.

For the period from January 31, 2015 to March 31, 2015, the Partnership recognized $180.8 million of revenues and $0.9 million of net income related to the assets acquired.

Coronado Acquisition

On March 16, 2015, the Partnership acquired Coronado Midstream Holdings LLC (“Coronado”), which owns natural gas gathering and processing facilities in the Permian Basin, for approximately $602.1 million, subject to certain adjustments. The purchase price consisted of $242.1 million in cash, 6,704,285 common units and 6,704,285 Class C Common Units in the Partnership.

The following table presents the fair value of the identified assets received and liabilities assumed at the acquisition date. The purchase price allocation has been prepared on a preliminary basis pending receipt of a final valuation report and is subject to change.

Purchase Price Allocation (in millions):
 
 
Assets acquired:
 
 
Current assets (including $9.6 million in cash)
 
$
26.2

Property, plant and equipment
 
306.0

Intangibles
 
294.0

Liabilities assumed:
 
 
Current liabilities
 
(24.1
)
Total identifiable net assets
 
$
602.1



The Partnership recognized intangible assets related to customer relationships. The acquired intangible assets will be amortized on a straight-line basis over the estimated customer contract life of approximately 10 years.

We incurred $3.0 million of direct transaction costs for the three months ended March 31, 2015. These costs are included in general and administrative costs in the accompanying Condensed Consolidated Statements of Operations.

For the period from March 17, 2015 to March 31, 2015, the Partnership recognized $8.9 million of revenues and $0.6 million of net loss related to the assets acquired.

EMH Drop Down

On February 17, 2015, the Partnership acquired an additional 25% limited partner interest in Midstream Holdings (the “Transferred Interest”) from Acacia, a wholly-owned subsidiary of ENLC, in a drop down transaction (the “EMH Drop Down”). As consideration for the Transferred Interest, the Partnership issued 31,618,311 Class D Common Units in the Partnership to Acacia with an implied value of $925.0 million. The Class D Common Units are substantially similar in all respects to the Partnership’s common units, except that they are only entitled to a pro rata distribution for the fiscal quarter ended March 31, 2015. The Class D Common Units converted into common units on a one-for-one basis on May 4, 2015, which was the first business day following the record date for distribution payments with respect to the distribution for the quarter ended March 31, 2015. After giving effect to the EMH Drop Down, the Partnership indirectly owns a 75% limited partner interest in Midstream Holdings, with Acacia owning the remaining 25% limited partner interest in Midstream Holdings. This acquisition has been accounted for as an acquisition under common control under ASC 805, resulting in the retrospective adjustment of our prior results.

E2 Drop Down

On October 22, 2014, the Partnership acquired equity interests in E2 Appalachian Compression, LLC and E2 Energy Services, LLC (together “E2”) in a drop down transaction from EMI (the "E2 Drop Down"). The total consideration for the transaction was approximately $194.0 million, including a cash payment of $163.0 million and the issuance of approximately 1.0 million Partnership units (valued at approximately $31.2 million based on the October 22, 2014 closing price of the Partnership's units). This acquisition has been accounted for as an acquisition under common control under ASC 805.

The following table presents the collective impact of the EMH Drop Down and the E2 Drop Down on first quarter 2014 revenue, net income, net income attributable to non-controlling interest and net income attributable to EnLink Midstream Partners, LP as presented in the Partnership's historical consolidated statements of income:

 
 
Three Months Ended March 31, 2014
 
 
Partnership Historical
 
EMH
 
E2
 
Combined
 
 
(in millions)
Revenues
 
$
722.5

 
$
—

 
$
0.5

 
$
723.0

Net income (loss)
 
$
54.6

 
$
—

 
$
(0.1
)
 
$
54.5

Net income attributable to non-controlling interest
 
$
10.5

 
$
5.2

 
$
—

 
$
5.3

Net income attributable to EnLink Midstream Partners,
LP
 
$
44.1

 
$
5.2

 
$
(0.1
)
 
$
49.2

General partner interest in net income
 
$
0.9

 
$
5.2

 
$
(0.1
)
 
$
6.0



Devon Merger

As discussed in Note 1(a), on March 7, 2014, the Partnership acquired, through one of its wholly owned subsidiaries, 50% of the outstanding equity interests in Midstream Holdings and all of the outstanding equity interests in EnLink Midstream Holdings GP, LLC, the general partner of Midstream Holdings, in exchange for the issuance by the Partnership of 120,542,441 units representing a new class of limited partnership interests in the Partnership (the “Class B Units”). Midstream Holdings owns midstream assets in the Barnett Shale in North Texas and the Cana-Woodford and Arkoma-Woodford Shales in Oklahoma, as well as a contractual right to the economic burdens and benefits of Devon’s 38.75% interest in Gulf Coast Fractionator (“GCF”) in Mt. Belvieu, Texas.

Under the acquisition method of accounting, Midstream Holdings was the acquirer in the business combination because its parent company, Devon, obtained control of the Partnership through the indirect control of the General Partner. Consequently, Midstream Holdings’ assets and liabilities retained their carrying values and the Partnership’s assets acquired and liabilities assumed by Midstream Holdings as the Predecessor in the business combination have been recorded at their fair values measured as of the acquisition date. The excess of the purchase price over the estimated fair values of the Partnership’s net assets acquired has been recorded as goodwill.

For the period from March 7, 2014 to March 31, 2014, the Partnership recognized $199.4 million of revenues and $1.8 million of net loss related to the assets acquired in the business combination.

Pro Forma Information

The following unaudited pro forma condensed financial information for the three months ended March 31, 2015 and 2014 gives effect to the business combination, Chevron acquisition, Coronado acquisition, LPC acquisition, EMH Drop Down and E2 Drop Down as if they had occurred on January 1, 2014. The unaudited pro forma condensed financial information has been included for comparative purposes only and is not necessarily indicative of the results that might have occurred had the transactions taken place on the dates indicated and is not intended to be a projection of future results. Pro forma financial information associated with the business combination and acquisitions is reflected below.
 
 
Three Months Ended
 March 31,
 
 
2015
 
2014
 
 
(in millions, except for per unit data)
Pro forma total revenues (1)
 
$
1,058.4

 
$
1,379.8

Pro forma net income
 
$
29.8

 
$
34.7

Pro forma net income attributable to EnLink Midstream Partners, LP
 
$
14.4

 
$
19.2

Pro forma net income per common unit:
 


 
 
Basic
 
$
0.01

 
$
(0.01
)
Diluted
 
$
0.01

 
$
(0.01
)

(1)Effective March 1, 2014, Midstream Holdings entered into gathering and processing agreements with Devon, which
are described in Note 5.
Goodwill and Intangible Assets
Goodwill Disclosure
(4) Goodwill and Intangible Assets

Goodwill

Goodwill is the cost of an acquisition less the fair value of the net identifiable assets of the acquired business. The Partnership evaluates goodwill for impairment annually as of October 31, and whenever events or changes in circumstances indicate it is more likely than not that the fair value of a reporting unit is less than its carrying amount. The Partnership first assesses qualitative factors to evaluate whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as the basis for determining whether it is necessary to perform the two-step goodwill impairment test. The Partnership may elect to perform the two-step goodwill impairment test without completing a qualitative assessment. If a two-step goodwill impairment test is elected or required, the first step involves comparing the fair value of the reporting unit with its carrying amount. If the carrying amount of a reporting unit exceeds its fair value, the second step of the process involves comparing the implied fair value to the goodwill for that reporting unit. If the carrying value of the goodwill of a reporting unit exceeds the implied fair value of that goodwill, the excess of the carrying value over the implied fair value is recognized as an impairment loss. The Partnership performed its annual impairment test of goodwill as of the fourth quarter of 2014. Based on these assessments, no impairment of goodwill was required.

The table below provides a summary of the Partnership’s goodwill, by assigned reporting unit.

 
 
March 31,
2015
 
December 31,
 2014
 
 
(in millions)
Texas
 
$
1,168.2

 
$
1,168.2

Louisiana
 
786.8

 
786.8

Oklahoma
 
190.3

 
190.3

Crude and Condensate
 
137.8

 
112.5

       Total
 
$
2,283.1

 
$
2,257.8



The change in goodwill is related to a $25.3 million increase in goodwill related to the LPC acquisition. See Note 3-Acquisitions for further discussion.

Intangible Assets

Intangible assets associated with customer relationships are amortized on a straight-line basis over the expected period of benefits of the customer relationships, which range from ten to twenty years.

The following table represents the Partnership's total purchased intangible assets for the periods stated (in millions):

 
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Carrying
Amount
March 31, 2015
 
 
 
 
 
 
Customer relationships
 
$
925.8

 
$
(48.2
)
 
$
877.6

December 31, 2014
 
 
 
 
 
 
Customer relationships
 
$
569.5

 
$
(36.5
)
 
$
533.0



The weighted average amortization period for intangible assets is 11.1 years. Amortization expense for intangibles was approximately $11.5 million and $1.9 million for the three months ended March 31, 2015 and 2014, respectively.

The following table summarizes the Partnership's estimated aggregate amortization expense for the next five years (in millions):

2015
$
51.7

2016
67.0

2017
67.0

2018
67.0

2019
66.1

Thereafter
558.8

Total
$
877.6

Affiliate Transactions
Related Party Transactions Disclosure
(5) Affiliate Transactions

The Partnership engages in various transactions with Devon and other affiliated entities. Prior to March 7, 2014, these transactions relate to Predecessor transactions consisting of sales to and from affiliates, services provided by affiliates, cost allocations from affiliates and centralized cash management activities performed by affiliates. Management believes these transactions are executed on terms that are fair and reasonable and are consistent with terms for transactions with nonaffiliated third parties. The amounts related to affiliate transactions are specified in the accompanying financial statements.

Midstream Holdings, in which the Partnership holds a 75% economic interest as of March 31, 2015, conducts business with Devon pursuant to the gathering and processing agreements described below.  The Partnership also continues to maintain a relationship originally established with Devon as a customer prior to the business combination, as described in more detail below.

Gathering and Processing Agreements

As described in Note 1, Midstream Holdings was previously a wholly-owned subsidiary of Devon, and all of its assets were contributed to it by Devon.  On January 1, 2014, in connection with the consummation of the business combination, EnLink Midstream Services, LLC, a wholly-owned subsidiary of Midstream Holdings ("EnLink Midstream Services"), entered into 10-year gathering and processing agreements with Devon pursuant to which EnLink Midstream Services provides gathering, treating, compression, dehydration, stabilization, processing and fractionation services, as applicable, for natural gas delivered by Devon Gas Services, L.P., a subsidiary of Devon ("Gas Services"), to Midstream Holdings’ gathering and processing systems in the Barnett, Cana-Woodford and Arkoma-Woodford Shales. On January 1, 2014, SWG Pipeline, L.L.C. (“SWG Pipeline”), another wholly-owned subsidiary of Midstream Holdings, entered into a 10-year gathering agreement with Devon pursuant to which SWG Pipeline provides gathering, treating, compression, dehydration and redelivery services, as applicable, for natural gas delivered by Gas Services to another of the Partnership's gathering systems in the Barnett Shale.

These agreements provide Midstream Holdings with dedication of all of the natural gas owned or controlled by Devon and produced from or attributable to existing and future wells located on certain oil, natural gas and mineral leases covering land within the acreage dedications, excluding properties previously dedicated to other natural gas gathering systems not owned and operated by Devon. Pursuant to the gathering and processing agreements entered into on January 1, 2014, Devon has committed to deliver specified average minimum daily volumes of natural gas to Midstream Holdings’ gathering systems in the Barnett, Cana-Woodford and Arkoma-Woodford Shales during each calendar quarter for a five-year period following execution. Devon is entitled to firm service, meaning that if capacity on a system is curtailed or reduced, or capacity is otherwise insufficient, Midstream Holdings will take delivery of as much Devon natural gas as is permitted in accordance with applicable law.

The gathering and processing agreements are fee-based, and Midstream Holdings is paid a specified fee per MMBtu for natural gas gathered on Midstream Holdings’ gathering systems and a specified fee per MMBtu for natural gas processed. The particular fees, all of which are subject to an automatic annual inflation escalator at the beginning of each year, differ from one system to another and do not contain a fee redetermination clause.

On August 29, 2014, Gas Services assigned its 10-year gathering and processing agreement to Linn Exchange Properties, LLC (“Linn Energy”), which is a subsidiary of Linn Energy, LLC, in connection with Gas Services' divestiture of certain of its southeastern Oklahoma assets. Such assignment was effective as of December 1, 2014. Accordingly, beginning on December 1, 2014, Linn Energy began performing Gas Services' obligations under the agreement, which remains in full force and effect. The assignment of this agreement relates to production dedicated to our Northridge assets in southeastern Oklahoma.

Historical Customer Relationship with Devon

As noted above, the Partnership continues to maintain a customer relationship with Devon originally established prior to the business combination pursuant to which certain of the Partnership's subsidiaries provide gathering, transportation, processing and gas lift services to Devon subsidiaries in exchange for fee-based compensation under several agreements with such Devon subsidiaries.  The terms of these agreements vary, but the agreements expire between March 2015 and July 2021 and they automatically renew for month-to-month or year-to-year periods unless canceled by Devon prior to expiration.  In addition, one of the Partnership's subsidiaries has agreements with a subsidiary of Devon pursuant to which the Partnership's subsidiary purchases and sells NGLs and pays or receives, as applicable, a margin-based fee.  These NGL purchase and sale agreements have month-to-month terms.

Transition Services Agreement

In connection with the consummation of the business combination, the Partnership entered into a transition services agreement with Devon pursuant to which Devon provides certain services to the Partnership with respect to the business and operations of Midstream Holdings, including IT, accounting, pipeline integrity, compliance management and procurement services, and the Partnership provides certain services to Devon and its subsidiaries, including IT, human resources and other commercial and operational services. Operating expenses related to the transition service agreement were $0.3 million for the three months ended March 31, 2014. We received $0.1 million from Devon under the transition services agreement for the three months ended March 31, 2015. Substantially all services under the transition services agreement were completed during 2014.

GCF Agreement

In connection with the closing of the business combination, Midstream Holdings entered into an agreement with a wholly-owned subsidiary of Devon pursuant to which Devon agreed, from and after the closing of the business combination, to hold for the benefit of Midstream Holdings the economic benefits and burdens of Devon’s 38.75% interest in GCF, which owns a fractionation facility in Mont Belvieu, Texas.
Acacia Transportation Agreement

In connection with the closing of the business combination, Midstream Holdings entered into an agreement with a wholly-owned subsidiary of Devon pursuant to which Midstream Holdings provides transportation services to Devon on its Acacia pipeline.

The following presents financial information for the Predecessor's affiliate transactions and other transactions with Devon, all of which are settled through an adjustment to equity prior to March 7, 2014 (in millions):

 
Three Month Ended March 31,
 
2014
Continuing Operations:
 
Revenues - affiliates
$
(436.4
)
Operating cost and expenses - affiliates
340.0

Net affiliate transactions
(96.4
)
Capital expenditures
21.3

Other third-party transactions, net
53.0

Net third-party transactions
74.3

Net cash distributions to Devon - continuing operations
(22.1
)
Non-cash distribution of net assets to Devon
(26.2
)
Total net distributions per equity
$
(48.3
)
 
 
Discontinued operations:
 
Revenues - affiliates
$
(10.4
)
Operating costs and expenses - affiliates
5.0

Net affiliate transactions
(5.4
)
Capital expenditures
0.6

Other third-party transactions, net
0.4

Net third-party transactions
1.0

Net cash distributions to Devon and non-controlling interests - discontinued operations
(4.4
)
Non-cash distribution of net assets to Devon
(39.9
)
Total net distributions per equity
$
(44.3
)
Total distributions- continuing and discontinued operations
$
(92.6
)


For the three months ended March 31, 2015 and 2014, Devon was a significant customer to the Partnership. Devon accounted for 17.4% and 68.0% of the Partnership's revenues for the three months ended March 31, 2015 and 2014, respectively. The Partnership had an accounts receivable balance related to transactions with Devon of $111.0 million as of March 31, 2015 and $120.8 million as of December 31, 2014. Additionally, the Partnership had an accounts payable balance related to transactions with Devon of $11.1 million as of March 31, 2015 and $3.0 million as of December 31, 2014.

Share-based compensation costs included in the management services fee charged to Midstream Holdings by Devon were approximately $2.8 million for the three months ended March 31, 2014. Pension, postretirement and employee savings plan costs included in the management services fee charged to the Partnership by Devon were approximately $1.6 million for the three months ended March 31, 2014. These amounts are included in general and administrative expenses in the accompanying statements of operations.
Long-Term Debt
Long-Term Debt
(6) Long-Term Debt

As of March 31, 2015 and December 31, 2014, long-term debt consisted of the following (in millions):
 
March 31, 2015
 
December 31, 2014
Partnership credit facility (due 2020), interest based on Prime and/or LIBOR plus an applicable margin, interest rate at March 31, 2015 and December 31, 2014 was 1.6% and 1.9%, respectively
$
709.0

 
$
237.0

Senior unsecured notes (due 2019), net of discount of $0.5 million, which bear interest at the rate of 2.70%
399.5

 
399.5

Senior unsecured notes (due 2022), including a premium of $21.1 million at March 31, 2015 and $21.9 million at December 31, 2014, which bear interest at the rate of 7.125%
183.7

 
184.4

Senior unsecured notes (due 2024), net of premium of $3.1 million at March 31, 2015 and $3.2 million at December 31, 2014, which bear interest at the rate of 4.40%
553.1

 
553.2

Senior unsecured notes (due 2044), net of discount of $0.3 million, which bear interest at the rate of 5.60%
349.7

 
349.7

Senior unsecured notes (due 2045), net of discount of $1.6 million at March 31, 2015 and $1.7 million at December 31, 2014, which bear interest at the rate of 5.05%
298.4

 
298.3

Other debt
0.3

 
0.4

Debt classified as long-term
$
2,493.7

 
$
2,022.5



Credit Facility

On February 20, 2014, the Partnership entered into a $1.0 billion unsecured revolving credit facility, which includes a $500.0 million letter of credit subfacility (the “Partnership credit facility”). On February 5, 2015, the Partnership exercised the accordion under the Partnership credit facility, increasing the size of the facility to $1.5 billion and also exercised an option to extend the maturity date of the Partnership credit facility to March 6, 2020. The Partnership also entered into certain amendments to the Partnership credit facility pursuant to which the Partnership is permitted to, (1) subject to certain conditions and the receipt of additional commitments by one or more lenders, increase the aggregate commitments under the Partnership credit facility by an additional amount not to exceed $500 million and, (2) subject to certain conditions and the consent of the requisite lenders, on two separate occasions extend the maturity date of the Partnership credit facility by one year. The Partnership credit facility contains certain financial, operational and legal covenants. Among other things, these covenants include maintaining a ratio of consolidated indebtedness to consolidated EBITDA (as defined in the Partnership credit facility, which definition includes projected EBITDA from certain capital expansion projects) of no more than 5.0 to 1.0. If the Partnership consummates one or more acquisitions in which the aggregate purchase price is $50.0 million or more, the maximum allowed ratio of consolidated indebtedness to consolidated EBITDA may be increased to 5.5 to 1.0 for the quarter of the acquisition and the three following quarters.

Borrowings under the Partnership credit facility bear interest at the Partnership’s option at the Eurodollar Rate (the LIBOR Rate) plus an applicable margin or the Base Rate (the highest of the Federal Funds Rate plus 0.50%, the 30-day Eurodollar Rate plus 1.0% or the administrative agent’s prime rate) plus an applicable margin. The applicable margins vary depending on the Partnership’s credit rating. Upon breach by the Partnership of certain covenants governing the Partnership credit facility, amounts outstanding under the Partnership credit facility, if any, may become due and payable immediately.

As of March 31, 2015, there were $2.9 million in outstanding letters of credit and $709.0 million in outstanding borrowings under the Partnership’s credit facility, leaving approximately $788.1 million available for future borrowing based on the borrowing capacity of $1.5 billion.

All other material terms of the credit facility are described in Part II, “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations — Indebtedness” in the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2014. The Partnership expects to be in compliance with all credit facility covenants for at least the next twelve months.
Partners' Capital Partners Capital
Partners' Capital Disclosure
(7)      Partners’ Capital

(a) Issuance of Common Units

In November 2014, the Partnership entered into an Equity Distribution Agreement (the “BMO EDA”) with BMO Capital Markets Corp., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc., Jefferies LLC, Raymond James & Associates, Inc. and RBC Capital Markets, LLC (collectively, the “Sales Agents”) to sell up to $350.0 million in aggregate gross sales of the Partnership’s common units from time to time through an “at the market” equity offering program. The Partnership may also sell common units to any Sales Agent as principal for the Sales Agent’s own account at a price agreed upon at the time of sale. The Partnership has no obligation to sell any of the common units under the BMO EDA and may at any time suspend solicitation and offers under the BMO EDA. For the three months ended March 31, 2015, the Partnership sold an aggregate of 0.1 million common units under the BMO EDA, generating proceeds of approximately $2.2 million (net of less than $0.1 million of commissions). The Partnership used the net proceeds for general partnership purposes. As of March 31, 2015, approximately $339.7 million remains available to be issued under the agreement.

(b) Class C Common Units

In March 2015, the Partnership issued 6,704,285 Class C Common Units representing a new class of limited partner interests as partial consideration for the acquisition of Coronado. For further discussion see Note 3- Acquisitions. The Class C Common Units are substantially similar in all respects to the Partnership's common units, except that distributions paid on the Class C Common Units may be paid in cash or in additional Class C Common Units issued in kind, as determined by the General Partner in its sole discretion. The Class C Common Units will automatically convert into common units on a one-for-one basis on the earlier to occur of (i) the date on which the General Partner, in its sole discretion, determines to convert all of the outstanding Class C Common Units into common units and (ii) the first business day following the date of the distribution for the quarter ended March 31, 2016.

(c) Class D Common Units

In February 2015, the Partnership issued 31,618,311 Class D Common Units to Acacia as consideration for a 25% interest in Midstream Holdings. For further discussion see Note 3 - Acquisitions. The Partnership’s Class D Common Units were substantially similar in all respects to the Partnership’s common units, except that they were only entitled to a pro rata distribution from the date of issuance for the fiscal quarter ended March 31, 2015. The Partnership’s Class D Common Units automatically converted into the Partnership’s common units on a one-for-one basis on May 4, 2015 and are included with common units outstanding as of March 31, 2015.

(d)  Distributions
 
Unless restricted by the terms of the Partnership’s credit facility and/or the indentures governing the Partnership's senior unsecured notes, the Partnership must make distributions of 100% of available cash, as defined in the partnership agreement, within 45 days following the end of each quarter. Distributions are made to the General Partner in accordance with its current percentage interest with the remainder to the common unitholders, subject to the payment of incentive distributions as described below to the extent that certain target levels of cash distributions are achieved. The General Partner is not entitled to its general partner or incentive distributions with respect to the Class C Common Units issued in kind.

Our General Partner owns the general partner interest in us and all of our incentive distribution rights. Our General Partner is entitled to receive incentive distributions if the amount we distribute with respect to any quarter exceeds levels specified in our partnership agreement. Under the quarterly incentive distribution provisions, generally our General Partner is entitled to 13.0% of amounts we distribute in excess of $0.25 per unit, 23% of the amounts we distribute in excess of $0.3125 per unit and 48.0% of amounts we distribute in excess of $0.375 per unit.

A summary of the distribution activity relating to the common units for the three months ended March 31, 2015 is provided below:
Declaration period
 
Distribution/unit
 
Date paid/payable
Fourth Quarter of 2014
 
$
0.375

 
February 12, 2015
First Quarter of 2015 (1)
 
$
0.38

 
May 14, 2015

(1) The Partnership declared a partial first quarter 2015 distribution on its Class D Common Units of $0.18 per unit to be paid on May 14, 2015. Distributions declared for the Class D Common Units represent a pro rata distribution for the number of days the Class D Common Units were issued and outstanding during the quarter. The Class D Common Units automatically converted into common units on a one-for-one basis on May 4, 2015.

(e) Earnings per Unit and Dilution Computations
 
As required under FASB ASC 260-10-45-61A, unvested share-based payments that entitle employees to receive non-forfeitable distributions are considered participating securities, as defined in FASB ASC 260-10-20, for earnings per unit calculations. Net income earned by the Predecessor prior to March 7, 2014 is not included for purposes of calculating earnings per unit as the Predecessor did not have any unitholders.  The following table reflects the computation of basic and diluted earnings per limited partner unit for the period presented (in millions, except per unit amounts):
 
Three Months Ended March 31,
 
2015
 
2014*
Limited partners’ interest in net income
$
9.0

 
$
7.7

Distributed earnings allocated to:
 
 
 
Common units (1) (2)
$
99.5

 
$
51.3

Unvested restricted units (1)
0.4

 
0.2

Total distributed earnings
$
99.9

 
$
51.5

Undistributed loss allocated to:
 
 
 
Common units (2)
$
(90.5
)
 
$
(43.7
)
Unvested restricted units
(0.4
)
 
(0.1
)
Total undistributed loss
$
(90.9
)
 
$
(43.8
)
Net income allocated to:
 
 
 
Common units (2)
$
9.0

 
$
7.6

Unvested restricted units
—

 
0.1

Total limited partners’ interest in net income
$
9.0

 
$
7.7

Basic and diluted net income per unit:
 
 
 
Basic
$
0.03

 
$
0.03

Diluted
$
0.03

 
$
0.03

* The three months ended March 31, 2014 amounts consist only of the period from March 7, 2014 through March 31, 2014.
(1) Three months ended March 31, 2015 and 2014 represents a declared distribution of $0.38 per unit payable on May 14, 2015 and declared distribution of $0.36 per unit for common units paid on May 14, 2014.
(2) Includes declared partial distribution of $0.18 per unit for Class D Common Units payable May 14, 2015 and declared partial distribution of $0.10 per unit for Class B Common Units paid on May 14, 2014.
 
The following are the unit amounts used to compute the basic and diluted earnings per limited partner unit for the periods presented (in millions):
 
Three Months Ended March 31,
Basic weighted average units outstanding:
2015
 
2014*
Weighted average limited partner basic common units outstanding
246.7

 
109.0

Weighted average Class B Common Units outstanding
—

 
120.5

Weighted average Class C Common Units outstanding
1.1

 
—

Weighted average Class D Common Units outstanding
15.1

 
—

    Total weighted average limited partner common units outstanding
262.9

 
229.5

Diluted weighted average units outstanding:
 
 
 
Weighted average limited partner basic common units outstanding
262.9

 
229.5

Dilutive effect of restricted units issued
0.4

 
0.6

    Total weighted average limited partner diluted common units outstanding
263.3

 
230.1


* The three months ended March 31, 2014 amounts consist only of the period from March 7, 2014 through March 31, 2014.

All outstanding units were included in the computation of diluted earnings per unit and weighted based on the number of days such units were outstanding during the periods presented.

Net income is allocated to the General Partner in an amount equal to its incentive distributions as described in Note 7(d). The General Partner's share of net income consists of incentive distributions to the extent earned, a deduction for unit-based compensation attributable to ENLC’s restricted units and the percentage interest of the Partnership’s net income adjusted for ENLC's unit-based compensation specifically allocated to the General Partner. The net income allocated to the General Partner is as follows for the periods presented (in millions).
 
Three Months Ended March 31,
 
2015
 
2014*
Income allocation for incentive distributions
$
8.8

 
$
1.4

Unit-based compensation attributable to ENLC’s restricted units
(7.0
)
 
(0.6
)
General Partner interest in net income
0.1

 
0.1

General Partner interest in drop down transactions
8.6

 
5.1

General Partner share of net income
$
10.5

 
$
6.0


* The three months ended March 31, 2014 amounts consist only of the period from March 7, 2014 through March 31, 2014.
Asset Retirement Obligation
Asset Retirement Obligation Disclosure
(8) Asset Retirement Obligations

The schedule below summarizes the changes in the Partnership’s asset retirement obligations:
 
March 31, 2015
 
March 31, 2014
 
(in millions)
Beginning asset retirement obligations
$
19.1

 
$
7.7

Revisions to existing liabilities
(3.9
)
 
—

Liabilities acquired
—

 
0.5

Accretion
0.1

 
0.2

Liabilities settled
(3.2
)
 
—

Ending asset retirement obligations
$
12.1

 
$
8.4



Asset retirement obligations of $1.1 million as of March 31, 2015 are included in Other Current Liabilities.
Investment in Unconsolidated Affiliate
Investment in unconsolidated affiliate
(9) Investment in Unconsolidated Affiliates

The Partnership’s unconsolidated investments consisted of a contractual right to the economic benefits and burdens associated with Devon's 38.75% ownership interest in GCF at March 31, 2015 and 2014 and a 30.6% ownership interest in Howard Energy Partners ("HEP") at March 31, 2015 and 2014.

The following table shows the activity related to the Partnership’s investment in unconsolidated affiliates for the periods indicated (in millions):
 
Gulf Coast Fractionators
 
Howard Energy Partners
 
Total
Three months ended
 
 
 
 
 
March 31, 2015
 
 
 
 
 
Distributions
$
2.7

 
$
4.1

 
$
6.8

Equity in income
$
3.3

 
$
0.4

 
$
3.7

 
 
 
 
 
 
March 31, 2014
 
 
 
 
 
Distributions (1)
$
—

 
$
2.7

 
$
2.7

Equity in income
$
4.1

 
$
0.1

 
$
4.2

(1) Includes income and distributions for the period from March 7, 2014 through March 31, 2014 for HEP.

The following table shows the balances related to the Partnership’s investment in unconsolidated affiliates for the periods indicated (in millions):
 
March 31,
2015
 
December 31, 2014
Gulf Coast Fractionators
$
54.7

 
$
54.1

Howard Energy Partners
213.1

 
216.7

Total investments in unconsolidated affiliates
$
267.8

 
$
270.8

Employee Incentive Plans
Employee Incentive Plans
(10) Employee Incentive Plans
 
(a)         Long-Term Incentive Plans
 
The Partnership accounts for unit-based compensation in accordance with FASB ASC 718, which requires that compensation related to all unit-based awards, including unit options, be recognized in the consolidated financial statements.

The Partnership and ENLC each have similar unit-based compensation payment plans for officers and employees, which are described below.  Unit-based compensation associated with ENLC's unit-based compensation plan awarded to officers and employees of the Partnership are recorded by the Partnership since ENLC has no substantial or managed operating activities other than its interests in the Partnership and Midstream Holdings. Amounts recognized in the condensed consolidated financial statements with respect to these plans are as follows (in millions): 
 
Three Months Ended
March 31,
 
2015
 
2014
Cost of unit-based compensation allocated to Predecessor general and
    administrative expense (1)
$
—

 
$
2.8

Cost of unit-based compensation charged to general and administrative
    expense
11.9

 
1.0

Cost of unit-based compensation charged to operating expense
1.9

 
0.2

    Total amount charged to income
$
13.8

 
$
4.0


(1)
Unit-based compensation expense was treated as a contribution by the Predecessor in the Consolidated Statement of Changes in Partners' Equity in 2014.

(b)  EnLink Midstream Partners, LP Restricted Incentive Units
 
The Partnership's restricted incentive units are valued at their fair value at the date of grant which is equal to the market value of common units on such date. A summary of the restricted incentive unit activity for the three months ended March 31, 2015 is provided below:
 
 
Three Months Ended 
March 31, 2015
EnLink Midstream Partners, LP Restricted Incentive Units:
 
Number of
Units
 
Weighted
Average
Grant-Date
 Fair Value
Non-vested, beginning of period
 
1,022,191

 
$
31.25

Granted
 
542,723

 
27.07

Vested*
 
(244,998
)
 
28.62

Forfeited
 
(55,193
)
 
31.48

Non-vested, end of period
 
1,264,723

 
$
29.96

Aggregate intrinsic value, end of period (in millions)
 
$
31.3

 
 


 * Vested units include 84,860 units withheld for payroll taxes paid on behalf of employees.

The Partnership issued restricted incentive units in the first quarter of 2015 to officers and other employees. These restricted incentive units typically vest at the end of three years. In March 2015, the Partnership issued 128,675 restricted incentive units with a fair value of $3.4 million to officers and certain employees as bonus payments for 2014, which vested immediately and are included in the restricted units granted and vested line items above.
 
A summary of the restricted incentive units’ aggregate intrinsic value (market value at vesting date) and fair value of units vested during the three months ended March 31, 2015 are provided below (in millions):


Three Months Ended March 31,
EnLink Midstream Partners, LP Restricted Incentive Units:

2015
Aggregate intrinsic value of units vested

$
6.8

Fair value of units vested

$
7.0



As of March 31, 2015, there was $27.3 million of unrecognized compensation cost related to non-vested restricted incentive units. That cost is expected to be recognized over a weighted-average period of 2.2 years.

(c)  EnLink Midstream Partners, LP Performance Units

In March 2015, the Partnership and ENLC granted performance awards under the amended and restated EnLink Midstream GP, LLC Long-Term Incentive Plan (the "GP Plan") and the 2014 Long-Term Incentive Plan (the “LLC Plan”), respectively. The performance award agreements provide that the vesting of restricted incentive units granted thereunder is dependent on the achievement of certain total shareholder return (“TSR”) performance goals relative to the TSR achievement of a peer group of companies (the “Peer Companies”) over the applicable performance period. The performance award agreements contemplate that the Peer Companies for an individual performance award (the “Subject Award”) are the companies comprising the Alerian MLP Index for Master Limited Partnerships (“AMZ”), excluding the Partnership and ENLC (collectively, "EnLink"), on the grant date for the Subject Award. The performance units will vest based on the percentile ranking of the average of the Partnership’s and ENLC’s TSR achievement ("EnLink TSR") for the applicable performance period relative to the TSR achievement of the Peer Companies.

At the end of the vesting period, recipients receive distribution equivalents with respect to the number of performance units vested. The vesting of units may be between zero and 200 percent of the units granted depending on EnLink’s TSR as compared to the peer group on the vesting date. The fair value of each performance unit is estimated as of the date of grant using a Monte Carlo simulation with the following assumptions used for all performance unit grants made under the plan: (i) a risk-free interest rate based on United States Treasury rates as of the grant date; (ii) a volatility assumption based on the historical realized price volatility of the Partnership and the designated peer group; (iii) an estimated ranking of the Partnership among the designated peer group and (iv) the distribution yield. The fair value of the unit on the date of grant is expensed over a vesting period of three years. The following table presents a summary of the grant-date fair values of performance units granted and the related assumptions.
 
 
Three Months Ended March 31,
 
 
2015
Beginning TSR Price
 
$
27.68

Risk-free interest rate
 
0.99
%
Volatility factor
 
33.01
%
Distribution yield
 
5.66
%


The following table presents a summary of the Partnership's performance units.
 
 
Three Months Ended 
March 31, 2015
EnLink Midstream Partners, LP Performance Units:
 
Number of
Units
 
Weighted
Average
Grant-Date
Fair Value
Non-Vested, beginning of period
 
—

 
$
—

Granted
 
108,713

 
36.18

Vested
 
—

 
—

Non-vested, end of period
 
108,713

 
$
36.18

Aggregate intrinsic value, end of period (in millions)
 
$
2.7

 



As of March 31, 2015 there was $3.7 million of unrecognized compensation expense that related to non-vested Partnership performance units. That cost is expected to be recognized over a weighted-average period of 2.1 years.

(d)         EnLink Midstream, LLC’s Restricted Incentive Units
 
ENLC’s restricted incentive units are valued at their fair value at the date of grant which is equal to the market value of the common units on such date. A summary of the restricted incentive units activities for the three months ended March 31, 2015 is provided below:
 
 
Three Months Ended 
March 31, 2015
EnLink Midstream, LLC Restricted Incentive Units:
 
Number of
Units
 
Weighted
Average
Grant-Date
Fair Value
Non-vested, beginning of period
 
986,472

 
$
37.03

Granted
 
462,875

 
31.74

Vested*
 
(240,760
)
 
35.71

Forfeited
 
(47,473
)
 
36.60

Non-vested, end of period
 
1,161,114

 
$
35.21

Aggregate intrinsic value, end of period (in millions)
 
$
37.8

 
 


 * Vested units include 77,519 units withheld for payroll taxes paid on behalf of employees.

ENLC issued restricted incentive units in the first quarter of 2015 to officers and other employees. These restricted incentive units typically vest at the end of three years and are included in restricted incentive units outstanding. In March 2015, ENLC issued 102,543 restricted incentive units with a fair value of $3.4 million to officers and certain employees as bonus payments for 2014, which vested immediately and are included in the restricted units granted and vested line items above.
A summary of the restricted incentive units’ aggregate intrinsic value (market value at vesting date) and fair value of units vested during the three months ended March 31, 2015 are provided below (in millions):
 
 
Three Months Ended March 31,
EnLink Midstream, LLC Restricted Incentive Units:
 
2015
Aggregate intrinsic value of units vested
 
$
8.3

Fair value of units vested
 
$
8.6



As of March 31, 2015, there was $27.4 million of unrecognized compensation costs related to non-vested ENLC restricted incentive units. The cost is expected to be recognized over a weighted-average period of 2.1 years.

(e) EnLink Midstream, LLC's Performance Units

In March 2015, ENLC granted performance awards under the LLC Plan discussed in Note (c) above. At the end of the vesting period, recipients receive distribution equivalents with respect to the number of performance units vested. The vesting of units may be between zero and 200 percent of the units granted depending on EnLink’s TSR as compared to the peer group on the vesting date. The fair value of each performance unit is estimated as of the date of grant using a Monte Carlo simulation with the following assumptions used for all performance unit grants made under the plan: (i) a risk-free interest rate based on United States Treasury rates as of the grant date; (ii) a volatility assumption based on the historical realized price volatility of ENLC and the designated peer group; (iii) an estimated ranking of ENLC among the designated peer group and (iv) the distribution yield. The fair value of the unit on the date of grant is expensed over a vesting period of three years. The following table presents a summary of the grant-date fair values of performance units granted and the related assumptions.

 
 
Three Months Ended March 31,
EnLink Midstream, LLC Performance Units:
 
2015
Beginning TSR Price
 
$
34.24

Risk-free interest rate
 
0.99
%
Volatility factor
 
33.02
%
Distribution yield
 
2.98
%


The following table presents a summary of the ENLC's performance units.
 
 
Three Months Ended 
March 31, 2015
EnLink Midstream, LLC Performance Units:
 
Number of
Units
 
Weighted
Average
Grant-Date
Fair Value
Non-Vested, beginning of period
 
—

 
$
—

Granted
 
96,963

 
41.31

Vested
 
—

 
—

Non-vested, end of period
 
96,963

 
$
41.31

Aggregate intrinsic value, end of period (in millions)
 
$
3.2

 



As of March 31, 2015 there was $3.7 million of unrecognized compensation expense that related to non-vested ENLC performance units. That cost is expected to be recognized over a weighted-average period of 2.1 years.
Derivatives
Derivatives
(11) Derivatives
 
Commodity Swaps

The Partnership manages its exposure to fluctuation in commodity prices by hedging the impact of market fluctuations. Swaps are used to manage and hedge price and location risk related to these market exposures. Swaps are also used to manage margins on offsetting fixed-price purchase or sale commitments for physical quantities of natural gas and NGLs. The Partnership does not designate transactions as cash flow or fair value hedges for hedge accounting treatment under FASB ASC 815. Therefore, changes in the fair value of the Partnership's derivatives are recorded in revenue in the period incurred. In addition, the Partnership's risk management policy does not allow the Partnership to take speculative positions with its derivative contracts.

The Partnership commonly enters into index (float-for-float) or fixed-for-float swaps in order to mitigate its cash flow exposure to fluctuations in the future prices of natural gas, NGLs and crude oil. For natural gas, index swaps are used to protect against the price exposure of daily priced gas versus first-of-month priced gas. They are also used to hedge the basis location price risk resulting from supply and markets being priced on different indices. For natural gas, NGLs, condensate and crude, fixed-for-float swaps are used to protect cash flows against price fluctuations: (1) where the Partnership receives a percentage of liquids as a fee for processing third-party gas or where the Partnership receives a portion of the proceeds of the sales of natural gas and liquids as a fee, (2) in the natural gas processing and fractionation components of its business and (3) where the Partnership is mitigating the price risk for product held in inventory or storage.

The components of gain (loss) on derivative activity in the consolidated statements of operations relating to commodity swaps are as follows for the three months ended March 31, 2015 and 2014 (in millions):
 
Three Months Ended March 31,
 
2015
 
2014*
Change in fair value of derivatives
$
(3.7
)
 
$
(0.7
)
Realized gain (loss) on derivatives
3.9

 
(0.6
)
    Gain (loss) on derivative activity
$
0.2

 
$
(1.3
)

* The three months ended March 31, 2014 amounts consist only of the period from March 7, 2014 through March 31, 2014. 

The fair value of derivative assets and liabilities relating to commodity swaps are as follows (in millions):

 
March 31, 2015
 
December 31, 2014
Fair value of derivative assets — current
$
14.3

 
$
16.7

Fair value of derivative assets — long term
7.6

 
10.0

Fair value of derivative liabilities — current
(3.0
)
 
(3.0
)
Fair value of derivative liabilities — long term
(1.5
)
 
(2.0
)
    Net fair value of derivatives
$
17.4

 
$
21.7


 
Set forth below is the summarized notional volumes and fair value of all instruments held for price risk management purposes and related physical offsets at March 31, 2015. The remaining term of the contracts extend no later than December 2016.

 
 
 
 
 
 
March 31, 2015
Commodity
 
Instruments
 
Unit
 
Volume
 
Fair Value
 
 
 
 
 
 
(In millions)
NGL (short contracts)
 
Swaps
 
Gallons
 
(54.7
)
 
$
21.7

NGL (long contracts)
 
Swaps
 
Gallons
 
44.6

 
(4.1
)
Natural Gas (short contracts)
 
Swaps
 
MMBtu
 
(0.6
)
 
0.1

Natural Gas (long contracts)
 
Swaps
 
MMBtu
 
0.4

 
(0.3
)
Condensate (short contracts)
 
Swaps
 
MMbbls
 
—

 
(0.1
)
Condensate (long contracts)
 
Swaps
 
MMbbls
 
—

 
0.1

Total fair value of derivatives
 
 
 
 
 
 
 
$
17.4


 
On all transactions where the Partnership is exposed to counterparty risk, the Partnership analyzes the counterparty's financial condition prior to entering into an agreement, establishes limits and monitors the appropriateness of these limits on an ongoing basis. The Partnership primarily deals with two types of counterparties, financial institutions and other energy companies, when entering into financial derivatives on commodities. The Partnership has entered into Master International Swaps and Derivatives Association Agreements ("ISDAs") that allow for netting of swap contract receivables and payables in the event of default by either party. If the Partnership's counterparties failed to perform under existing swap contracts, the Partnership's maximum loss as of March 31, 2015 of $21.9 million would be reduced to $17.4 million due to the offsetting of gross fair value payables against gross fair value receivables as allowed by the ISDAs. 

Fair Value of Derivative Instruments

Assets and liabilities related to the Partnership's derivative contracts are included in the fair value of derivative assets and liabilities and the profit and loss on the mark to market value of these contracts are recorded net as a loss on derivatives in the consolidated statement of operations. The Partnership estimates the fair value of all of its derivative contracts using actively quoted prices. The estimated fair value of derivative contracts by maturity date was as follows (in millions):

 
Maturity Periods
 
Less than one year
 
One to two years
 
More than two years
 
Total fair value
March 31, 2015
$
11.3

 
$
6.1

 
$
—

 
$
17.4

Fair Value Measurements
Fair Value Measurements
(12)      Fair Value Measurements
 
FASB ASC 820 sets forth a framework for measuring fair value and required disclosures about fair value measurements of assets and liabilities. Fair value under FASB ASC 820 is defined as the price at which an asset could be exchanged in a current transaction between knowledgeable, willing parties. A liability’s fair value is defined as the amount that would be paid to transfer the liability to a new obligor, not the amount that would be paid to settle the liability with the creditor. Where available, fair value is based on observable market prices or parameters or derived from such prices or parameters. Where observable prices or inputs are not available, use of unobservable prices or inputs are used to estimate the current fair value, often using an internal valuation model. These valuation techniques involve some level of management estimation and judgment, the degree of which is dependent on the item being valued.
 
FASB ASC 820 establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include: Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.
 
The Partnership’s derivative contracts primarily consist of commodity swap contracts which are not traded on a public exchange. The fair values of commodity swap contracts are determined using discounted cash flow techniques. The techniques incorporate Level 1 and Level 2 inputs for future commodity prices that are readily available in public markets or can be derived from information available in publicly quoted markets. These market inputs are utilized in the discounted cash flow calculation considering the instrument’s term, notional amount, discount rate and credit risk and are classified as Level 2 in hierarchy.
 
Net liabilities measured at fair value on a recurring basis are summarized below (in millions):
 
March 31, 2015
Level 2
 
December 31, 2014 Level 2
Commodity Swaps*
$
17.4

 
$
21.7

Total
$
17.4

 
$
21.7

 
*                 The fair value of derivative contracts included in assets or liabilities for risk management activities represents the amount at which the instruments could be exchanged in a current arms-length transaction adjusted for credit risk of the Partnership and/or the counterparty as required under FASB ASC 820.
 
Fair Value of Financial Instruments
 
The estimated fair value of the Partnership’s financial instruments has been determined by the Partnership using available market information and valuation methodologies. Considerable judgment is required to develop the estimates of fair value; thus, the estimates provided below are not necessarily indicative of the amount the Partnership could realize upon the sale or refinancing of such financial instruments (in millions):
 
March 31, 2015
 
December 31, 2014
 
Carrying
Value
 
Fair
Value
 
Carrying
Value
 
Fair
Value
Long-term debt
$
2,493.7

 
$
2,571.2

 
$
2,022.5

 
$
2,026.1

Obligations under capital leases
$
19.3

 
$
18.7

 
$
20.3

 
$
19.8


 
The carrying amounts of the Partnership’s cash and cash equivalents, accounts receivable and accounts payable approximate fair value due to the short-term maturities of these assets and liabilities.

The Partnership had $709.0 million and $237.0 million in outstanding borrowings under its revolving credit facility as of March 31, 2015 and December 31, 2014, respectively. As borrowings under the credit facility accrue interest under floating interest rate structures, the carrying value of such indebtedness approximates fair value for the amounts outstanding under the credit facility. As of March 31, 2015, the Partnership had borrowings totaling $399.5 million, $553.1 million, $349.7 million and $298.4 million net of discount, under the senior unsecured notes due in 2019, 2024, 2044 and 2045, respectively, with a fixed rate of 2.70%, 4.40%, 5.60% and 5.05%, respectively. As of December 31, 2014, the Partnership had borrowings totaling $399.5 million, $553.2 million, $349.7 million, and $298.3 million net of discount under the senior unsecured notes due in 2019, 2024, 2044 and 2045, respectively, with a fixed rate of 2.70%, 4.40%, 5.60% and 5.05%, respectively. Additionally, the Partnership had borrowings of $183.7 million and $184.4 million, including premium, under the senior unsecured notes due in 2022 with a fixed rate of 7.125% as of March 31, 2015 and December 31, 2014, respectively. The fair value of all senior unsecured notes as of March 31, 2015 and December 31, 2014 was based on Level 2 inputs from third-party market quotations.  The fair value of obligations under capital leases was calculated using Level 2 inputs from third-party banks.
Commitments and Contingencies
Commitments and Contingencies Disclosure
(13) Commitments and Contingencies
 
(a) Severance and Change in Control Agreements
 
Certain members of management of the Partnership are parties to severance and change of control agreements with the General Partner. The severance and change in control agreements provide those individuals with severance payments in certain circumstances and prohibit such an individual from, among other things, competing with the General Partner or its affiliates during his employment, and disclosing confidential information about, or interfering with a client or customer of, the General Partner or its affiliates during his employment and for a certain period of time following the termination of such person’s employment.
 
(b) Environmental Issues
 
The operation of pipelines, plants and other facilities for the gathering, processing, transmitting or disposing of natural gas, NGLs, crude oil, condensate, brine and other products is subject to stringent and complex laws and regulations pertaining to health, safety and the environment. As an owner or operator of these facilities, the Partnership must comply with United States laws and regulations at the federal, state and local levels that relate to air and water quality, hazardous and solid waste management and disposal, and other environmental matters. The cost of planning, designing, constructing and operating pipelines, plants, and other facilities must incorporate compliance with environmental laws and regulations and safety standards. Failure to comply with these laws and regulations may trigger a variety of administrative, civil and potentially criminal enforcement measures, including citizen suits, which can include the assessment of monetary penalties, the imposition of remedial requirements, and the issuance of injunctions or restrictions on operation. Management believes that, based on currently known information, compliance with these laws and regulations will not have a material adverse effect on the Partnership's results of operations, financial condition or cash flows.

(c) Litigation Contingencies
 
The Partnership is involved in various litigation and administrative proceedings arising in the normal course of business. In the opinion of management, any liabilities that may result from these claims would not individually or in the aggregate have a material adverse effect on its financial position or results of operations. 

At times, the Partnership’s subsidiaries acquire pipeline easements and other property rights by exercising rights of eminent domain and common carrier. As a result, the Partnership (or its subsidiaries) is a party to a number of lawsuits under which a court will determine the value of pipeline easements or other property interests obtained by the Partnership’s subsidiaries by condemnation. Damage awards in these suits should reflect the value of the property interest acquired and the diminution in the value of the remaining property owned by the landowner. However, some landowners have alleged unique damage theories to inflate their damage claims or assert valuation methodologies that could result in damage awards in excess of the amounts anticipated. Although it is not possible to predict the ultimate outcomes of these matters, the Partnership does not expect that awards in these matters will have a material adverse impact on its consolidated results of operations or financial condition.

The Partnership (or its subsidiaries) is defending lawsuits filed by owners of property located near processing facilities or compression facilities constructed by the Partnership as part of its systems. The suits generally allege that the facilities create a private nuisance and have damaged the value of surrounding property. Claims of this nature have arisen as a result of the industrial development of natural gas gathering, processing and treating facilities in urban and occupied rural areas. 

In July 2013, the Board of Commissioners for the Southeast Louisiana Flood Protection Authority for New Orleans and surrounding areas filed a lawsuit against approximately 100 energy companies, seeking, among other relief, restoration of wetlands allegedly lost due to historic industry operations in those areas. The suit was filed in Louisiana state court in New Orleans, but was removed to the United States District Court for the Eastern District of Louisiana.  The amount of damages is unspecified. The Partnership's subsidiary, EnLink LIG, LLC, is one of the named defendants as the owner of pipelines in the area.  On February 13, 2015, the court granted defendants’ joint motion to dismiss and dismissed the plaintiff’s claims with prejudice. Plaintiffs have appealed the matter to the United States Court of Appeals for the Fifth Circuit. The Partnership intends to continue vigorously defending the case. The success of the plaintiffs' appeal as well as the Partnership's costs and legal exposure, if any, related to the lawsuit are not currently determinable.

We own and operate a high-pressure pipeline and underground natural gas and NGL storage reservoirs and associated facilities near Bayou Corne, Louisiana. In August 2012, a large sinkhole formed in the vicinity of this pipeline and underground storage reservoirs. We are seeking to recover our losses from responsible parties. We have sued Texas Brine Company, LLC ("Texas Brine"), the operator of a failed cavern in the area, and its insurers seeking recovery for this damage. We also filed a claim with our insurers, which our insurers denied. We disputed the denial and sued our insurers, but we have agreed to stay the matter pending resolution of our claims against Texas Brine and its insurers. In August 2014, we received a partial settlement with respect the Texas Brine claims in the amount of $6.1 million, but additional claims remain outstanding. We cannot give assurance that we will be able to fully recover our losses through insurance recovery or claims against responsible parties.

In June 2014, a group of landowners in Assumption Parish, Louisiana added a subsidiary of the Partnership, EnLink Processing Services, LLC, as a defendant in a pending lawsuit they had filed against Texas Brine, Occidental Chemical Corporation, and Vulcan Materials Company relating to claims arising from the Bayou Corne sinkhole. The suit is pending in the 23rd Judicial Court, Assumption Parish, Louisiana. Although plaintiffs’ claims against the other defendants have been pending since October 2012, plaintiffs are now alleging that EnLink Processing Services, LLC’s negligence also contributed to the formation of the sinkhole. The amount of damages is unspecified. The validity of the causes of action, as well as the Partnership's costs and legal exposure, if any, related to the lawsuit are not currently determinable. The Partnership intends to vigorously defend the case. The Partnership has also filed a claim for defense and indemnity with its insurers.

In October 2014, Williams Olefins, L.L.C. filed a lawsuit against a subsidiary of the Partnership, EnLink NGL Marketing, LP, in the District Court of Tulsa County, Oklahoma. The plaintiff alleges breach of contract and negligent misrepresentation relating to an ethane output contract between the parties and the subsidiary’s termination of ethane production from one of its fractionation plants. The amount of damages is unspecified. The validity of the causes of action, as well as the Partnership’s costs and legal exposure, if any, related to the lawsuit are not currently determinable. The Partnership intends to vigorously defend the case.
Segment Information
Segment Information
(14) Segment Information
 
Identification of the majority of the Partnership's operating segments is based principally upon geographic regions served.  The Partnership’s reportable segments consist of the following: natural gas gathering, processing, transmission and fractionation operations located in north Texas, south Texas and the Permian Basin in west Texas ("Texas"), the pipelines and processing plants located in Louisiana and NGL assets located in south Louisiana ("Louisiana"), natural gas gathering and processing operations located throughout Oklahoma ("Oklahoma") and crude rail, truck, pipeline, and barge facilities in the west Texas, Louisiana and ORV ("Crude and Condensate"). The Partnership's Crude and Condensate segment, which is identified based upon the nature of services provided to customers of the segment, has historically been referred to as the Partnership's ORV segment. Due to the growth in this segment, including the acquisition of LPC, the Partnership has renamed this segment to more accurately reflect the assets included therein. The Partnership has restated the prior period to include certain crude and condensate activity in the Crude and Condensate segment. Operating activity for intersegment eliminations is shown in the corporate segment.  The Partnership’s sales are derived from external domestic customers.

Corporate expenses include general partnership expenses associated with managing all reportable operating segments. Corporate assets consist primarily of cash, property and equipment, including software, for general corporate support, debt financing costs and investments in HEP and GCF. The Partnership evaluates the performance of its operating segments based on operating revenues and segment profits.

Summarized financial information concerning the Partnership’s reportable segments is shown in the following tables:

 
Texas
 
Louisiana
 
Oklahoma
 
Crude and Condensate
 
Corporate
 
Totals
 
(In millions)
Three Months Ended March 31, 2015
 

 
 

 
 

 
 

 
 

 
 

Sales to external customers
$
70.7

 
$
429.7

 
$
9.0

 
$
263.7

 
$
—

 
$
773.1

Sales to affiliates
140.6

 
11.9

 
34.9

 
—

 
(24.4
)
 
163.0

Purchased gas, NGLs, condensate and
    crude oil
(66.5
)
 
(376.4
)
 
(3.4
)
 
(235.5
)
 
24.4

 
(657.4
)
Operating expenses
(48.5
)
 
(22.5
)
 
(7.9
)
 
(17.3
)
 
—

 
(96.2
)
Gain on derivative activity
—

 
—

 
—

 
—

 
0.2

 
0.2

Segment profit
$
96.3

 
$
42.7

 
$
32.6

 
$
10.9

 
$
0.2

 
$
182.7

Depreciation and amortization
$
(36.5
)
 
$
(27.4
)
 
$
(13.5
)
 
$
(11.1
)
 
$
(1.5
)
 
$
(90.0
)
Goodwill
$
1,168.2

 
$
786.8

 
$
190.3

 
$
137.8

 
$
—

 
$
2,283.1

Capital expenditures
$
73.7

 
$
17.8

 
$
5.4

 
$
52.3

 
$
4.3

 
$
153.5

Three Months Ended March 31, 2014
 
 
 
 
 
 
 
 
 
 
 
Sales to external customers
$
48.3

 
$
152.5

 
$
11.5

 
$
20.1

 
$
—

 
$
232.4

Sales to affiliates
335.9

 
0.5

 
162.9

 
—

 
(7.4
)
 
491.9

Purchased gas, NGLs, condensate and
    crude oil
(257.7
)
 
(140.5
)
 
(133.8
)
 
(14.3
)
 
7.4

 
(538.9
)
Operating expenses
(31.7
)
 
(5.1
)
 
(6.7
)
 
(2.7
)
 
—

 
(46.2
)
Loss on derivative activity
—

 
—

 
—

 
—

 
(1.3
)
 
(1.3
)
Segment profit
$
94.8

 
$
7.4

 
$
33.9

 
$
3.1

 
$
(1.3
)
 
$
137.9

Depreciation and amortization
$
(27.2
)
 
$
(5.2
)
 
$
(14.2
)
 
$
(1.5
)
 
$
(0.1
)
 
$
(48.2
)
Goodwill
$
1,256.7

 
$
885.1

 
$
190.3

 
$
106.0

 
$
—

 
$
2,438.1

Capital expenditures
$
25.1

 
$
22.1

 
$
10.2

 
$
5.0

 
$
5.5

 
$
67.9



The table below presents information about segment assets as of March 31, 2015 and December 31, 2014:

 
March 31, 2015
 
December 31, 2014
Segment Identifiable Assets:
(In millions)
Texas
$
3,958.7

 
$
3,302.9

Louisiana
3,175.7

 
3,316.5

Oklahoma
883.4

 
892.8

Crude and Condensate
1,036.7

 
762.5

Corporate
316.4

 
318.0

Total identifiable assets
$
9,370.9

 
$
8,592.7


    
The following table reconciles the segment profits reported above to the operating income as reported in the condensed consolidated statements of operations (in millions):


Three Months Ended
 March 31,
 
2015
 
2014
Segment profits
$
182.7

 
$
137.9

General and administrative expenses
(41.9
)
 
(15.3
)
Depreciation and amortization
(90.0
)
 
(48.2
)
Operating income
$
50.8

 
$
74.4

Discontinued Operations (Notes)
Disposal Groups, Including Discontinued Operations, Disclosure
(15) Discontinued Operations

The Predecessor’s historical assets comprised all of Devon’s U.S. midstream assets and operations. However, only its assets serving the Barnett, Cana-Woodford and Arkoma-Woodford Shales, as well as contractual rights to the economic benefits and burdens associated with Devon's 38.75% interest in GCF, were contributed to Midstream Holdings in connection with the business combination on March 7, 2014. All operations activity related to the non-contributed assets prior to March 7, 2014 are classified as discontinued operations.

The following schedule summarizes net income from discontinued operations (in millions):
 
Three Months Ended
March 31,
 
2014
Revenues:
 
Revenues
$
6.8

Revenues - affiliates
10.5

Total revenues
17.3

 
 
Operating costs and expenses:
 
Operating expenses
15.7

Total operating costs and expenses
15.7

 
 
Income before income taxes
1.6

Income tax provision
0.6

Net income
$
1.0

Supplemental Cash Flow Information (Notes)
Cash Flow, Supplemental Disclosures
(16) Supplemental Cash Flow Information

The following schedule summarizes non-cash financing activities for the period presented.
 
 
Three Months Ended March 31,
 
 
2015
 
 
(Millions)
Non-cash financing activities:
 
 
     Non-cash issuance of common units (1)
 
$
180.0

     Non-cash issuance of Class C Common Units (1)
 
$
180.0

     Non-cash adjustment of interest in Midstream Holdings (2)
 
$
20.9


(1) Non-cash common units and Class C Common Units were issued as partial consideration for the Coronado acquisition. See Note 3 - Acquisitions for further discussion.
(2) Non-cash adjustment to reflect recast of Midstream Holdings' interest acquired on February 17, 2015. See Note 3 - Acquisitions for further discussion.

Also, see Note 5-Affiliate Transactions for non-cash activities related to Predecessor operations with Devon prior to March 7, 2014.
Subsequent Events (Notes)
Subsequent Events
(17) Subsequent Event

Dropdown of VEX pipeline. On April 1, 2015, the Partnership acquired the Victoria Express Pipeline and related truck terminal and storage assets (“VEX”) from Devon, which are located in the Eagle Ford shale in south Texas. The aggregate consideration paid by the Partnership consisted of $171.0 million in cash, 338,159 common units representing limited partner interests in the Partnership with an aggregate value of approximately $9.0 million (the “Consideration Units”) and the Partnership’s assumption of up to $40.0 million in certain construction costs related to VEX, subject to certain adjustments set forth in the contribution agreement. The VEX pipeline is a multi-grade crude oil pipeline. Other VEX assets at the destination of the pipeline include a truck unloading terminal, above-ground storage and rights to barge loading docks.
Significant Accounting Policy (Policies)
Basis of Accounting, Policy [Policy Text Block] 
(a) Basis of Presentation

The accompanying condensed consolidated financial statements are prepared in accordance with the instructions to Form 10-Q, are unaudited and do not include all the information and disclosures required by generally accepted accounting principles in the United States of America ("GAAP") for complete financial statements. All adjustments that, in the opinion of management, are necessary for a fair presentation of the results of operations for the interim periods have been made and are of a recurring nature unless otherwise disclosed herein. The results of operations for such interim periods are not necessarily indicative of results of operations for a full year. All significant intercompany balances and transactions have been eliminated in consolidation.

Further, the unaudited consolidated financial statements give effect to the business combination and related transactions discussed in Note 1(a) above under the acquisition method of accounting and are treated as a reverse acquisition. Under the acquisition method of accounting, Midstream Holdings was the accounting acquirer in the transactions because its parent company, Devon, obtained control of the Partnership through the indirect control of the General Partner as a result of the business combination. All financial results prior to March 7, 2014 reflect the historical operations of Midstream Holdings and are reflected as Predecessor income on the statement of operations. Additionally, the Partnership’s assets acquired and liabilities assumed by Midstream Holdings in the business combination were recorded at their fair values measured as of the acquisition date, March 7, 2014. The excess of the purchase price over the estimated fair values of the Partnership’s net assets acquired was recorded as goodwill. Financial results subsequent to March 7, 2014 reflect the combined operations of Midstream Holdings and the Partnership, which give effect to new contracts entered into with Devon and include the legacy Partnership assets. Certain assets were not contributed to Midstream Holdings from the Predecessor and the operations of such non contributed assets have been presented as discontinued operations. In conjunction with the business combination, Midstream Holdings became a non-taxable entity which was treated as a reorganization under common control with the removal of historical deferred taxes reflected through equity.

During the fourth quarter of 2014 and the first quarter of 2015, the Partnership acquired assets from ENLC through drop down transactions. Because ENLC controls the Partnership through its ownership and control of the General Partner, each acquisition from ENLC was considered a transfer of net assets between entities under common control, and the Partnership also was required to recast its financial statements as of March 31, 2015 to include the activities of such assets from the date of common control. The consolidated financial statements for periods prior to the Partnership’s acquisition of the assets from ENLC have been prepared from ENLC’s historical cost-basis accounts for the acquired assets and may not necessarily be indicative of the actual results of operations that would have occurred if the Partnership had owned the acquired assets during the periods reported. Net income attributable to the assets acquired from ENLC for periods prior to the Partnership’s acquisition is allocated to the general partner.
Redeemable Noncontrolling Interest [Policy Text Block] 
(b) Redeemable Non-Controlling Interest

Non-controlling interests that contain an option for the non-controlling interest holder to require the Partnership to buy out such interests for cash are considered to be redeemable non-controlling interests because the redemption feature is not deemed to be a freestanding financial instrument and because the redemption is not solely within the control of the Partnership. Redeemable non-controlling interest is not considered to be a component of partners' equity and is reported as temporary equity in the mezzanine section on the Condensed Consolidated Balance Sheets. The amount recorded as redeemable non-controlling interest at each balance sheet date is the greater of the redemption value and the carrying value of the redeemable non-controlling interest (the initial carrying value increased or decreased for the non-controlling interest holders' share of net income or loss and distributions).
New Accounting Pronouncements, Policy [Policy Text Block] 
(c) Recent Accounting Pronouncements

In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”). ASU 2014-09 will replace existing revenue recognition requirements in GAAP and will require entities to recognize revenue at an amount that reflects the consideration to which the Partnership expects to be entitled in exchange for transferring goods or services to a customer. The new standard will also require significantly expanded disclosures regarding the qualitative and quantitative information of the Partnership's nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period, and is to be applied retrospectively, with early application not permitted. We are currently evaluating the impact the pronouncement will have on our consolidated financial statements and related disclosures. Subject to this evaluation, we have reviewed all recently issued accounting pronouncements that became effective during the three months ended March 31, 2015, and have determined that none would have a material impact on our Condensed Consolidated Financial Statements.
In April 2015, the FASB issued ASU No. 2015-06, Effects on Historical Earnings per Unit of Master Limited Partnership Dropdown Transactions (a Consensus of the FASB Emerging Issues Task Force), which requires a master limited partnership (MLP) to allocate earnings (losses) of a transferred business entirely to the general partner when computing earnings per unit (EPU) for periods before the dropdown transaction occurred. The EPU that the limited partners previously reported would not change as a result of the dropdown transaction. The ASU also requires an MLP to disclose the effects of the dropdown transaction on EPU for the periods before and after the dropdown transaction occurred.
Acquisition (Table)
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Business Acquisition [Line Items]
 
 
ScheduleOfPriorPeriodAdjustmentsRelatedToAssetDropDown [Table Text Block]
 
Text Block 
BusinessAcquisitionProFormaInformation
Text Block 
 
Chevron Acquisition [Member]
 
 
Business Acquisition [Line Items]
 
 
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
Text Block 
 
LPC [Member]
 
 
Business Acquisition [Line Items]
 
 
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
Text Block 
 
Coronado [Member]
 
 
Business Acquisition [Line Items]
 
 
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
Text Block 
 
ScheduleOfPriorPeriodAdjustmentsRelatedToAssetDropDown [Table Text Block] 
The following table presents the collective impact of the EMH Drop Down and the E2 Drop Down on first quarter 2014 revenue, net income, net income attributable to non-controlling interest and net income attributable to EnLink Midstream Partners, LP as presented in the Partnership's historical consolidated statements of income:

 
 
Three Months Ended March 31, 2014
 
 
Partnership Historical
 
EMH
 
E2
 
Combined
 
 
(in millions)
Revenues
 
$
722.5

 
$
—

 
$
0.5

 
$
723.0

Net income (loss)
 
$
54.6

 
$
—

 
$
(0.1
)
 
$
54.5

Net income attributable to non-controlling interest
 
$
10.5

 
$
5.2

 
$
—

 
$
5.3

Net income attributable to EnLink Midstream Partners,
LP
 
$
44.1

 
$
5.2

 
$
(0.1
)
 
$
49.2

General partner interest in net income
 
$
0.9

 
$
5.2

 
$
(0.1
)
 
$
6.0

BusinessAcquisitionProFormaInformation 
The following unaudited pro forma condensed financial information for the three months ended March 31, 2015 and 2014 gives effect to the business combination, Chevron acquisition, Coronado acquisition, LPC acquisition, EMH Drop Down and E2 Drop Down as if they had occurred on January 1, 2014. The unaudited pro forma condensed financial information has been included for comparative purposes only and is not necessarily indicative of the results that might have occurred had the transactions taken place on the dates indicated and is not intended to be a projection of future results. Pro forma financial information associated with the business combination and acquisitions is reflected below.
 
 
Three Months Ended
 March 31,
 
 
2015
 
2014
 
 
(in millions, except for per unit data)
Pro forma total revenues (1)
 
$
1,058.4

 
$
1,379.8

Pro forma net income
 
$
29.8

 
$
34.7

Pro forma net income attributable to EnLink Midstream Partners, LP
 
$
14.4

 
$
19.2

Pro forma net income per common unit:
 


 
 
Basic
 
$
0.01

 
$
(0.01
)
Diluted
 
$
0.01

 
$
(0.01
)
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed 
The following table presents the fair value of the identified assets received and liabilities assumed at the acquisition date.
Purchase Price Allocation (in millions):
 
 
Assets acquired:
 
 
Property, plant and equipment
 
$
225.3

Intangibles
 
13.0

Liabilities assumed:
 
 
Current liabilities
 
(6.8
)
Total identifiable net assets
 
$
231.5

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed 
The following table presents the fair value of the identified assets received and liabilities assumed at the acquisition date.

Purchase Price Allocation (in millions):
 
 
Assets acquired:
 
 
Current assets (including $21.1 million in cash)
 
$
106.1

Property, plant and equipment
 
29.3

Intangibles
 
49.2

Goodwill
 
25.3

Liabilities assumed:
 
 
Current liabilities
 
(106.1
)
Deferred tax liability
 
(3.8
)
Total identifiable net assets
 
$
100.0


Schedule of Recognized Identified Assets Acquired and Liabilities Assumed 
The following table presents the fair value of the identified assets received and liabilities assumed at the acquisition date. The purchase price allocation has been prepared on a preliminary basis pending receipt of a final valuation report and is subject to change.

Purchase Price Allocation (in millions):
 
 
Assets acquired:
 
 
Current assets (including $9.6 million in cash)
 
$
26.2

Property, plant and equipment
 
306.0

Intangibles
 
294.0

Liabilities assumed:
 
 
Current liabilities
 
(24.1
)
Total identifiable net assets
 
$
602.1

Goodwill and Intangible Assets (Tables)
Schedule of Goodwill 
The table below provides a summary of the Partnership’s goodwill, by assigned reporting unit.

 
 
March 31,
2015
 
December 31,
 2014
 
 
(in millions)
Texas
 
$
1,168.2

 
$
1,168.2

Louisiana
 
786.8

 
786.8

Oklahoma
 
190.3

 
190.3

Crude and Condensate
 
137.8

 
112.5

       Total
 
$
2,283.1

 
$
2,257.8

Schedule of Finite-Lived Intangible Assets 
The following table represents the Partnership's total purchased intangible assets for the periods stated (in millions):

 
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Carrying
Amount
March 31, 2015
 
 
 
 
 
 
Customer relationships
 
$
925.8

 
$
(48.2
)
 
$
877.6

December 31, 2014
 
 
 
 
 
 
Customer relationships
 
$
569.5

 
$
(36.5
)
 
$
533.0

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense 
The following table summarizes the Partnership's estimated aggregate amortization expense for the next five years (in millions):

2015
$
51.7

2016
67.0

2017
67.0

2018
67.0

2019
66.1

Thereafter
558.8

Total
$
877.6

Affiliate Transactions (Tables)
Schedule of Related Party Transactions [Table Text Block]
The following presents financial information for the Predecessor's affiliate transactions and other transactions with Devon, all of which are settled through an adjustment to equity prior to March 7, 2014 (in millions):

 
Three Month Ended March 31,
 
2014
Continuing Operations:
 
Revenues - affiliates
$
(436.4
)
Operating cost and expenses - affiliates
340.0

Net affiliate transactions
(96.4
)
Capital expenditures
21.3

Other third-party transactions, net
53.0

Net third-party transactions
74.3

Net cash distributions to Devon - continuing operations
(22.1
)
Non-cash distribution of net assets to Devon
(26.2
)
Total net distributions per equity
$
(48.3
)
 
 
Discontinued operations:
 
Revenues - affiliates
$
(10.4
)
Operating costs and expenses - affiliates
5.0

Net affiliate transactions
(5.4
)
Capital expenditures
0.6

Other third-party transactions, net
0.4

Net third-party transactions
1.0

Net cash distributions to Devon and non-controlling interests - discontinued operations
(4.4
)
Non-cash distribution of net assets to Devon
(39.9
)
Total net distributions per equity
$
(44.3
)
Total distributions- continuing and discontinued operations
$
(92.6
)
Long-Term Debt (Tables)
Indebtedness Table
As of March 31, 2015 and December 31, 2014, long-term debt consisted of the following (in millions):
 
March 31, 2015
 
December 31, 2014
Partnership credit facility (due 2020), interest based on Prime and/or LIBOR plus an applicable margin, interest rate at March 31, 2015 and December 31, 2014 was 1.6% and 1.9%, respectively
$
709.0

 
$
237.0

Senior unsecured notes (due 2019), net of discount of $0.5 million, which bear interest at the rate of 2.70%
399.5

 
399.5

Senior unsecured notes (due 2022), including a premium of $21.1 million at March 31, 2015 and $21.9 million at December 31, 2014, which bear interest at the rate of 7.125%
183.7

 
184.4

Senior unsecured notes (due 2024), net of premium of $3.1 million at March 31, 2015 and $3.2 million at December 31, 2014, which bear interest at the rate of 4.40%
553.1

 
553.2

Senior unsecured notes (due 2044), net of discount of $0.3 million, which bear interest at the rate of 5.60%
349.7

 
349.7

Senior unsecured notes (due 2045), net of discount of $1.6 million at March 31, 2015 and $1.7 million at December 31, 2014, which bear interest at the rate of 5.05%
298.4

 
298.3

Other debt
0.3

 
0.4

Debt classified as long-term
$
2,493.7

 
$
2,022.5

Partners' Capital (Tables)
Distributions Made to Limited Partner, by Distribution 
A summary of the distribution activity relating to the common units for the three months ended March 31, 2015 is provided below:
Declaration period
 
Distribution/unit
 
Date paid/payable
Fourth Quarter of 2014
 
$
0.375

 
February 12, 2015
First Quarter of 2015 (1)
 
$
0.38

 
May 14, 2015
Schedule of Earnings Per Share, Basic and Diluted 
The following table reflects the computation of basic and diluted earnings per limited partner unit for the period presented (in millions, except per unit amounts):
 
Three Months Ended March 31,
 
2015
 
2014*
Limited partners’ interest in net income
$
9.0

 
$
7.7

Distributed earnings allocated to:
 
 
 
Common units (1) (2)
$
99.5

 
$
51.3

Unvested restricted units (1)
0.4

 
0.2

Total distributed earnings
$
99.9

 
$
51.5

Undistributed loss allocated to:
 
 
 
Common units (2)
$
(90.5
)
 
$
(43.7
)
Unvested restricted units
(0.4
)
 
(0.1
)
Total undistributed loss
$
(90.9
)
 
$
(43.8
)
Net income allocated to:
 
 
 
Common units (2)
$
9.0

 
$
7.6

Unvested restricted units
—

 
0.1

Total limited partners’ interest in net income
$
9.0

 
$
7.7

Basic and diluted net income per unit:
 
 
 
Basic
$
0.03

 
$
0.03

Diluted
$
0.03

 
$
0.03

* The three months ended March 31, 2014 amounts consist only of the period from March 7, 2014 through March 31, 2014.
(1) Three months ended March 31, 2015 and 2014 represents a declared distribution of $0.38 per unit payable on May 14, 2015 and declared distribution of $0.36 per unit for common units paid on May 14, 2014.
(2) Includes declared partial distribution of $0.18 per unit for Class D Common Units payable May 14, 2015 and declared partial distribution of $0.10 per unit for Class B Common Units paid on May 14, 2014.
 
Schedule of Weighted Average Number of Shares 
The following are the unit amounts used to compute the basic and diluted earnings per limited partner unit for the periods presented (in millions):
 
Three Months Ended March 31,
Basic weighted average units outstanding:
2015
 
2014*
Weighted average limited partner basic common units outstanding
246.7

 
109.0

Weighted average Class B Common Units outstanding
—

 
120.5

Weighted average Class C Common Units outstanding
1.1

 
—

Weighted average Class D Common Units outstanding
15.1

 
—

    Total weighted average limited partner common units outstanding
262.9

 
229.5

Diluted weighted average units outstanding:
 
 
 
Weighted average limited partner basic common units outstanding
262.9

 
229.5

Dilutive effect of restricted units issued
0.4

 
0.6

    Total weighted average limited partner diluted common units outstanding
263.3

 
230.1


* The three months ended March 31, 2014 amounts consist only of the period from March 7, 2014 through March 31, 2014.
Incentive Distributions 
Net income is allocated to the General Partner in an amount equal to its incentive distributions as described in Note 7(d). The General Partner's share of net income consists of incentive distributions to the extent earned, a deduction for unit-based compensation attributable to ENLC’s restricted units and the percentage interest of the Partnership’s net income adjusted for ENLC's unit-based compensation specifically allocated to the General Partner. The net income allocated to the General Partner is as follows for the periods presented (in millions).
 
Three Months Ended March 31,
 
2015
 
2014*
Income allocation for incentive distributions
$
8.8

 
$
1.4

Unit-based compensation attributable to ENLC’s restricted units
(7.0
)
 
(0.6
)
General Partner interest in net income
0.1

 
0.1

General Partner interest in drop down transactions
8.6

 
5.1

General Partner share of net income
$
10.5

 
$
6.0


* The three months ended March 31, 2014 amounts consist only of the period from March 7, 2014 through March 31, 2014.
Asset Retirement Obligation (Table)
Schedule of Change in Asset Retirement Obligation
The schedule below summarizes the changes in the Partnership’s asset retirement obligations:
 
March 31, 2015
 
March 31, 2014
 
(in millions)
Beginning asset retirement obligations
$
19.1

 
$
7.7

Revisions to existing liabilities
(3.9
)
 
—

Liabilities acquired
—

 
0.5

Accretion
0.1

 
0.2

Liabilities settled
(3.2
)
 
—

Ending asset retirement obligations
$
12.1

 
$
8.4

Investment in Unconsolidated Affiliate (Tables)
Equity Method Investments
The following table shows the balances related to the Partnership’s investment in unconsolidated affiliates for the periods indicated (in millions):
 
March 31,
2015
 
December 31, 2014
Gulf Coast Fractionators
$
54.7

 
$
54.1

Howard Energy Partners
213.1

 
216.7

Total investments in unconsolidated affiliates
$
267.8

 
$
270.8

The following table shows the activity related to the Partnership’s investment in unconsolidated affiliates for the periods indicated (in millions):
 
Gulf Coast Fractionators
 
Howard Energy Partners
 
Total
Three months ended
 
 
 
 
 
March 31, 2015
 
 
 
 
 
Distributions
$
2.7

 
$
4.1

 
$
6.8

Equity in income
$
3.3

 
$
0.4

 
$
3.7

 
 
 
 
 
 
March 31, 2014
 
 
 
 
 
Distributions (1)
$
—

 
$
2.7

 
$
2.7

Equity in income
$
4.1

 
$
0.1

 
$
4.2

(1) Includes income and distributions for the period from March 7, 2014 through March 31, 2014 for HEP.
Employee Incentive Plan (Tables)
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] 
The following table presents a summary of the grant-date fair values of performance units granted and the related assumptions.

 
 
Three Months Ended March 31,
EnLink Midstream, LLC Performance Units:
 
2015
Beginning TSR Price
 
$
34.24

Risk-free interest rate
 
0.99
%
Volatility factor
 
33.02
%
Distribution yield
 
2.98
%
The following table presents a summary of the grant-date fair values of performance units granted and the related assumptions.
 
 
Three Months Ended March 31,
 
 
2015
Beginning TSR Price
 
$
27.68

Risk-free interest rate
 
0.99
%
Volatility factor
 
33.01
%
Distribution yield
 
5.66
%
Schedule of Nonvested Performance-based Units Activity [Table Text Block] 
The following table presents a summary of the ENLC's performance units.
 
 
Three Months Ended 
March 31, 2015
EnLink Midstream, LLC Performance Units:
 
Number of
Units
 
Weighted
Average
Grant-Date
Fair Value
Non-Vested, beginning of period
 
—

 
$
—

Granted
 
96,963

 
41.31

Vested
 
—

 
—

Non-vested, end of period
 
96,963

 
$
41.31

Aggregate intrinsic value, end of period (in millions)
 
$
3.2

 

The following table presents a summary of the Partnership's performance units.
 
 
Three Months Ended 
March 31, 2015
EnLink Midstream Partners, LP Performance Units:
 
Number of
Units
 
Weighted
Average
Grant-Date
Fair Value
Non-Vested, beginning of period
 
—

 
$
—

Granted
 
108,713

 
36.18

Vested
 
—

 
—

Non-vested, end of period
 
108,713

 
$
36.18

Aggregate intrinsic value, end of period (in millions)
 
$
2.7

 

ScheduleofShareBasedCompensationRestrictedStockandRestrictedStockUnitsVestedandFairValueVested 
 
 
Three Months Ended March 31,
EnLink Midstream, LLC Restricted Incentive Units:
 
2015
Aggregate intrinsic value of units vested
 
$
8.3

Fair value of units vested
 
$
8.6

A summary of the restricted incentive units’ aggregate intrinsic value (market value at vesting date) and fair value of units vested during the three months ended March 31, 2015 are provided below (in millions):


Three Months Ended March 31,
EnLink Midstream Partners, LP Restricted Incentive Units:

2015
Aggregate intrinsic value of units vested

$
6.8

Fair value of units vested

$
7.0

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs 
The Partnership and ENLC each have similar unit-based compensation payment plans for officers and employees, which are described below.  Unit-based compensation associated with ENLC's unit-based compensation plan awarded to officers and employees of the Partnership are recorded by the Partnership since ENLC has no substantial or managed operating activities other than its interests in the Partnership and Midstream Holdings. Amounts recognized in the condensed consolidated financial statements with respect to these plans are as follows (in millions): 
 
Three Months Ended
March 31,
 
2015
 
2014
Cost of unit-based compensation allocated to Predecessor general and
    administrative expense (1)
$
—

 
$
2.8

Cost of unit-based compensation charged to general and administrative
    expense
11.9

 
1.0

Cost of unit-based compensation charged to operating expense
1.9

 
0.2

    Total amount charged to income
$
13.8

 
$
4.0


(1)
Unit-based compensation expense was treated as a contribution by the Predecessor in the Consolidated Statement of Changes in Partners' Equity in 2014.
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity 
A summary of the restricted incentive unit activity for the three months ended March 31, 2015 is provided below:
 
 
Three Months Ended 
March 31, 2015
EnLink Midstream Partners, LP Restricted Incentive Units:
 
Number of
Units
 
Weighted
Average
Grant-Date
 Fair Value
Non-vested, beginning of period
 
1,022,191

 
$
31.25

Granted
 
542,723

 
27.07

Vested*
 
(244,998
)
 
28.62

Forfeited
 
(55,193
)
 
31.48

Non-vested, end of period
 
1,264,723

 
$
29.96

Aggregate intrinsic value, end of period (in millions)
 
$
31.3

 
 


 * Vested units include 84,860 units withheld for payroll taxes paid on behalf of employees.
A summary of the restricted incentive units activities for the three months ended March 31, 2015 is provided below:
 
 
Three Months Ended 
March 31, 2015
EnLink Midstream, LLC Restricted Incentive Units:
 
Number of
Units
 
Weighted
Average
Grant-Date
Fair Value
Non-vested, beginning of period
 
986,472

 
$
37.03

Granted
 
462,875

 
31.74

Vested*
 
(240,760
)
 
35.71

Forfeited
 
(47,473
)
 
36.60

Non-vested, end of period
 
1,161,114

 
$
35.21

Aggregate intrinsic value, end of period (in millions)
 
$
37.8

 
 


 * Vested units include 77,519 units withheld for payroll taxes paid on behalf of employees.
Derivatives (Tables)
Commodity Swap 
The components of gain (loss) on derivative activity in the consolidated statements of operations relating to commodity swaps are as follows for the three months ended March 31, 2015 and 2014 (in millions):
 
Three Months Ended March 31,
 
2015
 
2014*
Change in fair value of derivatives
$
(3.7
)
 
$
(0.7
)
Realized gain (loss) on derivatives
3.9

 
(0.6
)
    Gain (loss) on derivative activity
$
0.2

 
$
(1.3
)

* The three months ended March 31, 2014 amounts consist only of the period from March 7, 2014 through March 31, 2014. 
Fair Value of Derivative Assets and Liabilities relating to commodity swaps 
The fair value of derivative assets and liabilities relating to commodity swaps are as follows (in millions):

 
March 31, 2015
 
December 31, 2014
Fair value of derivative assets — current
$
14.3

 
$
16.7

Fair value of derivative assets — long term
7.6

 
10.0

Fair value of derivative liabilities — current
(3.0
)
 
(3.0
)
Fair value of derivative liabilities — long term
(1.5
)
 
(2.0
)
    Net fair value of derivatives
$
17.4

 
$
21.7

Notional Amount and Fair Value of Derivative Instruments 
Set forth below is the summarized notional volumes and fair value of all instruments held for price risk management purposes and related physical offsets at March 31, 2015. The remaining term of the contracts extend no later than December 2016.

 
 
 
 
 
 
March 31, 2015
Commodity
 
Instruments
 
Unit
 
Volume
 
Fair Value
 
 
 
 
 
 
(In millions)
NGL (short contracts)
 
Swaps
 
Gallons
 
(54.7
)
 
$
21.7

NGL (long contracts)
 
Swaps
 
Gallons
 
44.6

 
(4.1
)
Natural Gas (short contracts)
 
Swaps
 
MMBtu
 
(0.6
)
 
0.1

Natural Gas (long contracts)
 
Swaps
 
MMBtu
 
0.4

 
(0.3
)
Condensate (short contracts)
 
Swaps
 
MMbbls
 
—

 
(0.1
)
Condensate (long contracts)
 
Swaps
 
MMbbls
 
—

 
0.1

Total fair value of derivatives
 
 
 
 
 
 
 
$
17.4

Derivatives Other than Cash Flow Hedges 
The estimated fair value of derivative contracts by maturity date was as follows (in millions):

 
Maturity Periods
 
Less than one year
 
One to two years
 
More than two years
 
Total fair value
March 31, 2015
$
11.3

 
$
6.1

 
$
—

 
$
17.4

Fair Value Measurements (Tables)
Fair Value Derivative Instrument 
Net liabilities measured at fair value on a recurring basis are summarized below (in millions):
 
March 31, 2015
Level 2
 
December 31, 2014 Level 2
Commodity Swaps*
$
17.4

 
$
21.7

Total
$
17.4

 
$
21.7

 
*                 The fair value of derivative contracts included in assets or liabilities for risk management activities represents the amount at which the instruments could be exchanged in a current arms-length transaction adjusted for credit risk of the Partnership and/or the counterparty as required under FASB ASC 820.
Fair Value Financial Instrument 
Considerable judgment is required to develop the estimates of fair value; thus, the estimates provided below are not necessarily indicative of the amount the Partnership could realize upon the sale or refinancing of such financial instruments (in millions):
 
March 31, 2015
 
December 31, 2014
 
Carrying
Value
 
Fair
Value
 
Carrying
Value
 
Fair
Value
Long-term debt
$
2,493.7

 
$
2,571.2

 
$
2,022.5

 
$
2,026.1

Obligations under capital leases
$
19.3

 
$
18.7

 
$
20.3

 
$
19.8

Segement Information (Tables)
Partnership Reportable Segement 
Summarized financial information concerning the Partnership’s reportable segments is shown in the following tables:

 
Texas
 
Louisiana
 
Oklahoma
 
Crude and Condensate
 
Corporate
 
Totals
 
(In millions)
Three Months Ended March 31, 2015
 

 
 

 
 

 
 

 
 

 
 

Sales to external customers
$
70.7

 
$
429.7

 
$
9.0

 
$
263.7

 
$
—

 
$
773.1

Sales to affiliates
140.6

 
11.9

 
34.9

 
—

 
(24.4
)
 
163.0

Purchased gas, NGLs, condensate and
    crude oil
(66.5
)
 
(376.4
)
 
(3.4
)
 
(235.5
)
 
24.4

 
(657.4
)
Operating expenses
(48.5
)
 
(22.5
)
 
(7.9
)
 
(17.3
)
 
—

 
(96.2
)
Gain on derivative activity
—

 
—

 
—

 
—

 
0.2

 
0.2

Segment profit
$
96.3

 
$
42.7

 
$
32.6

 
$
10.9

 
$
0.2

 
$
182.7

Depreciation and amortization
$
(36.5
)
 
$
(27.4
)
 
$
(13.5
)
 
$
(11.1
)
 
$
(1.5
)
 
$
(90.0
)
Goodwill
$
1,168.2

 
$
786.8

 
$
190.3

 
$
137.8

 
$
—

 
$
2,283.1

Capital expenditures
$
73.7

 
$
17.8

 
$
5.4

 
$
52.3

 
$
4.3

 
$
153.5

Three Months Ended March 31, 2014
 
 
 
 
 
 
 
 
 
 
 
Sales to external customers
$
48.3

 
$
152.5

 
$
11.5

 
$
20.1

 
$
—

 
$
232.4

Sales to affiliates
335.9

 
0.5

 
162.9

 
—

 
(7.4
)
 
491.9

Purchased gas, NGLs, condensate and
    crude oil
(257.7
)
 
(140.5
)
 
(133.8
)
 
(14.3
)
 
7.4

 
(538.9
)
Operating expenses
(31.7
)
 
(5.1
)
 
(6.7
)
 
(2.7
)
 
—

 
(46.2
)
Loss on derivative activity
—

 
—

 
—

 
—

 
(1.3
)
 
(1.3
)
Segment profit
$
94.8

 
$
7.4

 
$
33.9

 
$
3.1

 
$
(1.3
)
 
$
137.9

Depreciation and amortization
$
(27.2
)
 
$
(5.2
)
 
$
(14.2
)
 
$
(1.5
)
 
$
(0.1
)
 
$
(48.2
)
Goodwill
$
1,256.7

 
$
885.1

 
$
190.3

 
$
106.0

 
$
—

 
$
2,438.1

Capital expenditures
$
25.1

 
$
22.1

 
$
10.2

 
$
5.0

 
$
5.5

 
$
67.9

Segment Table reconciliation to Condensed Consolidated Financial Statement 
The table below presents information about segment assets as of March 31, 2015 and December 31, 2014:

 
March 31, 2015
 
December 31, 2014
Segment Identifiable Assets:
(In millions)
Texas
$
3,958.7

 
$
3,302.9

Louisiana
3,175.7

 
3,316.5

Oklahoma
883.4

 
892.8

Crude and Condensate
1,036.7

 
762.5

Corporate
316.4

 
318.0

Total identifiable assets
$
9,370.9

 
$
8,592.7

Reconciliation of Operating Profit (Loss) from Segments to Consolidated 
The following table reconciles the segment profits reported above to the operating income as reported in the condensed consolidated statements of operations (in millions):


Three Months Ended
 March 31,
 
2015
 
2014
Segment profits
$
182.7

 
$
137.9

General and administrative expenses
(41.9
)
 
(15.3
)
Depreciation and amortization
(90.0
)
 
(48.2
)
Operating income
$
50.8

 
$
74.4

Discontinued Operations (Tables)
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures
The following schedule summarizes net income from discontinued operations (in millions):
 
Three Months Ended
March 31,
 
2014
Revenues:
 
Revenues
$
6.8

Revenues - affiliates
10.5

Total revenues
17.3

 
 
Operating costs and expenses:
 
Operating expenses
15.7

Total operating costs and expenses
15.7

 
 
Income before income taxes
1.6

Income tax provision
0.6

Net income
$
1.0

Supplemental Cash Flow Information (Tables)
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]
The following schedule summarizes non-cash financing activities for the period presented.
 
 
Three Months Ended March 31,
 
 
2015
 
 
(Millions)
Non-cash financing activities:
 
 
     Non-cash issuance of common units (1)
 
$
180.0

     Non-cash issuance of Class C Common Units (1)
 
$
180.0

     Non-cash adjustment of interest in Midstream Holdings (2)
 
$
20.9

General (Details)
0 Months Ended 3 Months Ended 0 Months Ended
Mar. 8, 2014
Mar. 31, 2015
Mar. 31, 2014
Mar. 7, 2014
Feb. 17, 2015
EMH Drop Down [Member]
Affiliated Entity [Member]
EnLink Midstream LP [Member]
Midstream Holdings [Member]
Acacia [Member]
EnLink Midstream Holdings, LP [Member]
Feb. 17, 2015
Class D Common Unit [Member]
EMH Drop Down [Member]
Affiliated Entity [Member]
EnLink Midstream LP [Member]
Midstream Holdings [Member]
Acacia [Member]
EnLink Midstream Holdings, LP [Member]
Business Acquisition [Line Items]
 
 
 
 
 
 
Noncash or Part Noncash Acquisition, Interest Acquired
 
75.00% 
50.00% 
50.00% 
 
 
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares
120,542,441 
 
120,542,441 
 
 
 
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest
 
70.00% 
 
 
 
 
Related Party Transaction, Ownership Interest Transferred
 
 
 
 
25.00% 
 
Related Party Transaction, Amounts of Transaction, Shares
 
 
 
 
 
31,618,311 
Acquisition (Details Textuals) (USD $)
0 Months Ended 3 Months Ended 0 Months Ended 1 Months Ended 3 Months Ended 0 Months Ended 3 Months Ended 0 Months Ended 3 Months Ended 0 Months Ended 1 Months Ended 3 Months Ended 0 Months Ended
Mar. 8, 2014
Mar. 31, 2014
Mar. 31, 2015
Mar. 7, 2014
Nov. 1, 2014
Chevron Acquisition [Member]
Nov. 30, 2014
Chevron Acquisition [Member]
Mar. 31, 2015
Chevron Acquisition [Member]
Jan. 31, 2015
LPC [Member]
Mar. 31, 2015
LPC [Member]
Mar. 16, 2015
Coronado [Member]
Mar. 31, 2015
Coronado [Member]
Oct. 22, 2014
Coronado [Member]
Oct. 22, 2014
E2 [Member]
Mar. 31, 2014
EnLink Midstream Holdings, LP [Member]
Mar. 31, 2014
EnLink Midstream Holdings, LP [Member]
Mar. 31, 2015
Gulf Coast Fractionators [Member]
Mar. 31, 2014
Gulf Coast Fractionators [Member]
Mar. 16, 2015
Common Class C [Member]
Coronado [Member]
Feb. 17, 2015
Midstream Holdings [Member]
Affiliated Entity [Member]
EMH Drop Down [Member]
Acacia [Member]
Feb. 17, 2015
Midstream Holdings [Member]
Affiliated Entity [Member]
EMH Drop Down [Member]
Acacia [Member]
EnLink Midstream LP [Member]
EnLink Midstream Holdings, LP [Member]
Feb. 17, 2015
Midstream Holdings [Member]
Affiliated Entity [Member]
EMH Drop Down [Member]
EnLink Midstream LP [Member]
Feb. 17, 2015
Class D Common Unit [Member]
Midstream Holdings [Member]
Affiliated Entity [Member]
EMH Drop Down [Member]
Acacia [Member]
EnLink Midstream LP [Member]
EnLink Midstream Holdings, LP [Member]
Business Acquisition [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Business Acquisition, Transaction Costs
 
 
 
 
 
 
$ 300,000 
 
$ 200,000 
 
 
$ 3,000,000 
 
 
 
 
 
 
 
 
 
 
Business Combination, Consideration Transferred
 
 
 
 
 
 
 
100,000,000 
 
602,100,000 
 
 
194,000,000 
 
 
 
 
 
 
 
 
 
Business Combination, Initial Cash Consideration
 
 
 
 
 
 
 
 
 
242,100,000 
 
 
 
 
 
 
 
 
 
 
 
 
Payments to Acquire Businesses, Gross
 
 
 
 
 
231,500,000 
 
 
 
 
 
 
163,000,000 
 
 
 
 
 
 
 
 
 
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares
120,542,441 
120,542,441 
 
 
 
 
 
 
 
6,704,285 
 
 
1,000,000 
 
 
 
 
6,704,285 
 
 
 
 
Business Acquisition, Percentage of Voting Interests Acquired
 
50.00% 
75.00% 
50.00% 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Limited Liability Company (LLC) or Limited Partnership (LP), Predecessor Entity(ies) to Business Combination
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Midstream Holdings 
 
 
 
 
 
 
 
Equity Method Investment, Ownership Percentage
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
38.75% 
38.75% 
 
 
 
 
 
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual
 
 
 
 
 
 
7,100,000 
 
180,800,000 
 
8,900,000 
 
 
199,400,000 
 
 
 
 
 
 
 
 
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual
 
 
 
 
 
 
(1,200,000)
 
(900,000)
 
600,000 
 
 
1,800,000 
 
 
 
 
 
 
 
 
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable
 
 
 
 
 
 
 
 
 
 
 
 
31,200,000 
 
 
 
 
 
 
 
 
 
Related Party Transaction, Ownership Interest Transferred
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
25.00% 
 
 
Related Party Transaction, Amounts of Transaction, Shares
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
31,618,311 
Related Party Transaction, Amounts of Transaction
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$ 925,000,000 
 
 
Subsidiary or Equity Method Investee, Cumulative Percentage Ownership after All Transactions
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
25.00% 
 
75.00% 
 
Finite-Lived Intangible Asset, Useful Life
 
 
 
 
20 years 
 
 
10 years 
 
10 years 
 
 
 
 
 
 
 
 
 
 
 
 
Acquisition (Details) (USD $)
In Millions, unless otherwise specified
Mar. 31, 2015
Dec. 31, 2014
Mar. 31, 2014
Jan. 31, 2015
LPC [Member]
Mar. 16, 2015
Coronado [Member]
Nov. 1, 2014
Chevron Acquisition [Member]
Business Acquisition [Line Items]
 
 
 
 
 
 
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets
 
 
 
$ 106.1 
$ 26.2 
 
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment
 
 
 
29.3 
306.0 
225.3 
Assets acquired [Abstract]
 
 
 
 
 
 
Goodwill
2,283.1 
2,257.8 
2,438.1 
25.3 
 
 
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles
 
 
 
49.2 
294.0 
13.0 
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities
 
 
 
(106.1)
(24.1)
(6.8)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent
 
 
 
(3.8)
 
 
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net
 
 
 
$ 100.0 
$ 602.1 
$ 231.5 
Acquisition (Proforma) (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Business Acquisition [Line Items]
 
 
Pro forma total revenues (1)
$ 1,058.4 
$ 1,379.8 
Pro forma net income
29.8 
34.7 
Pro forma net income attributable to EnLink Midstream Partners, LP
$ 14.4 
$ 19.2 
Pro forma net income per common unit: Basic (usd per unit)
$ 0.01 
$ (0.01)
Pro forma net income per common unit: Diluted (usd per unit)
$ 0.01 
$ (0.01)
Acquisition (Recast) (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Business Acquisition [Line Items]
 
 
Revenues
$ 936.3 
$ 723.0 
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
35.0 
54.5 
Net Income (Loss) Attributable to Noncontrolling Interest
(15.4)
(5.3)
Net Income (Loss) Attributable to Parent
19.6 
49.2 
Net Income (Loss) Allocated to General Partners
10.5 
6.0 
ENLK Historical [Member]
 
 
Business Acquisition [Line Items]
 
 
Revenues
 
722.5 
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
 
54.6 
Net Income (Loss) Attributable to Noncontrolling Interest
 
(10.5)
Net Income (Loss) Attributable to Parent
 
44.1 
Net Income (Loss) Allocated to General Partners
 
0.9 
Midstream Holdings [Member]
 
 
Business Acquisition [Line Items]
 
 
Revenues
 
0 
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
 
0 
Net Income (Loss) Attributable to Noncontrolling Interest
 
5.2 
Net Income (Loss) Attributable to Parent
 
5.2 
Net Income (Loss) Allocated to General Partners
 
5.2 
E2 [Member]
 
 
Business Acquisition [Line Items]
 
 
Revenues
 
0.5 
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
 
(0.1)
Net Income (Loss) Attributable to Noncontrolling Interest
 
0 
Net Income (Loss) Attributable to Parent
 
(0.1)
Net Income (Loss) Allocated to General Partners
 
$ (0.1)
Acquisition (Phantom) (Details) (USD $)
In Millions, unless otherwise specified
0 Months Ended
Nov. 1, 2014
Coronado [Member]
 
Business Acquisition [Line Items]
 
Cash Acquired from Acquisition
$ 9.6 
LPC [Member]
 
Business Acquisition [Line Items]
 
Cash Acquired from Acquisition
$ 21.1 
Goodwill and Intangible Assets (Details) (USD $)
In Millions, unless otherwise specified
0 Months Ended 3 Months Ended 3 Months Ended
Mar. 31, 2015
Dec. 31, 2014
Mar. 31, 2014
Mar. 31, 2015
Texas Operating Segment [Member]
Dec. 31, 2014
Texas Operating Segment [Member]
Mar. 31, 2014
Texas Operating Segment [Member]
Mar. 31, 2015
Louisiana Operating Segment [Member]
Dec. 31, 2014
Louisiana Operating Segment [Member]
Mar. 31, 2014
Louisiana Operating Segment [Member]
Mar. 31, 2015
Oklahoma Operating Segment [Member]
Dec. 31, 2014
Oklahoma Operating Segment [Member]
Mar. 31, 2014
Oklahoma Operating Segment [Member]
Mar. 31, 2015
Crude Oil
Dec. 31, 2014
Crude Oil
Mar. 31, 2014
Crude Oil
Jan. 31, 2015
LPC [Member]
Mar. 31, 2015
LPC [Member]
Jan. 31, 2015
LPC [Member]
Mar. 31, 2015
Minimum [Member]
Mar. 31, 2015
Maximum [Member]
Goodwill [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Goodwill
$ 2,283.1 
$ 2,257.8 
$ 2,438.1 
$ 1,168.2 
$ 1,168.2 
$ 1,256.7 
$ 786.8 
$ 786.8 
$ 885.1 
$ 190.3 
$ 190.3 
$ 190.3 
$ 137.8 
$ 112.5 
$ 106.0 
 
 
$ 25.3 
 
 
Increase in the Partnership's goodwill
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$ 25.3 
 
 
 
Finite-Lived Intangible Asset, Useful Life
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
10 years 
 
 
10 years 
20 years 
Goodwill and Intangible Assets (Intangible Asset by Major Class) (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Dec. 31, 2014
Acquired Finite-Lived Intangible Assets [Line Items]
 
 
 
Finite-Lived Intangible Assets, Gross
$ 925.8 
 
$ 569.5 
Finite-Lived Intangible Assets, Accumulated Amortization
(48.2)
 
(36.5)
Finite-Lived Intangible Assets, Net
877.6 
 
533.0 
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life
11 years 1 month 
 
 
Amortization of Intangible Assets
$ 11.5 
$ 1.9 
 
Goodwill and Intangible Assets (Amortization Expense Table) (Details) (USD $)
In Millions, unless otherwise specified
Mar. 31, 2015
Dec. 31, 2014
Finite-Lived Intangibles Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
 
 
2015
$ 51.7 
 
2016
67.0 
 
2017
67.0 
 
2018
67.0 
 
2019
66.1 
 
Thereafter
558.8 
 
Total
$ 877.6 
$ 533.0 
Affiliate Transactions (Textual) (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Dec. 31, 2014
Mar. 7, 2014
Related Party Transaction [Line Items]
 
 
 
 
Business Acquisition, Percentage of Voting Interests Acquired
75.00% 
50.00% 
 
50.00% 
Due from Affiliate, Current
$ 111.0 
 
$ 120.8 
 
Segment profit
182.7 
137.9 
 
 
Accounts payable to related party
11.1 
 
3.0 
 
Allocated Share-based Compensation Expense
13.8 
4.0 
 
 
Affiliated Entity [Member]
 
 
 
 
Related Party Transaction [Line Items]
 
 
 
 
Operating expenses - affiliates
 
5.9 
 
 
Devon Energy Corporation [Member]
 
 
 
 
Related Party Transaction [Line Items]
 
 
 
 
Allocated Share-based Compensation Expense
 
2.8 
 
 
Pension and Other Postretirement Benefit Expense
 
1.6 
 
 
Gulf Coast Fractionators [Member]
 
 
 
 
Related Party Transaction [Line Items]
 
 
 
 
Equity Method Investment, Ownership Percentage
38.75% 
38.75% 
 
 
Sales Revenue, Net [Member] |
Devon Energy Corporation [Member]
 
 
 
 
Related Party Transaction [Line Items]
 
 
 
 
Concentration Risk, Percentage
17.40% 
68.00% 
 
 
Transmission Service Agreement [Member] |
Affiliated Entity [Member]
 
 
 
 
Related Party Transaction [Line Items]
 
 
 
 
Operating expenses - affiliates
 
0.3 
 
 
Other Income
$ 0.1 
 
 
 
Affiliate Transactions (Predecessor's Affiliate Transactions) (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Related Party Transaction [Line Items]
 
 
Operating revenues - affiliates
$ (773.1)
$ (232.4)
Cash used in financing activities - affiliates
316.1 
220.9 
Capital Expenditures
153.5 
67.9 
Net distributions from (to) related party
 
(92.6)
Affiliated Entity [Member]
 
 
Related Party Transaction [Line Items]
 
 
Operating expenses - affiliates
 
5.9 
Continuing Operations [Member] |
Affiliated Entity [Member]
 
 
Related Party Transaction [Line Items]
 
 
Operating revenues - affiliates
 
(436.4)
Operating expenses - affiliates
 
340.0 
Net Related Party transactions
 
(96.4)
Capital Expenditures
 
21.3 
Other Expenses
 
53.0 
Total Third-Party Transactions
 
74.3 
Net distributions from (to) related party
 
(48.3)
Net distributions from (to) related party, non-cash
 
(26.2)
Continuing Operations [Member] |
Devon Energy Corporation [Member]
 
 
Related Party Transaction [Line Items]
 
 
Net distributions from (to) related party
 
(22.1)
Discontinued Operations [Member]
 
 
Related Party Transaction [Line Items]
 
 
Net distributions from (to) related party
 
(4.4)
Discontinued Operations [Member] |
Affiliated Entity [Member]
 
 
Related Party Transaction [Line Items]
 
 
Operating revenues - affiliates
 
(10.4)
Operating expenses - affiliates
 
5.0 
Net Related Party transactions
 
(5.4)
Capital Expenditures
 
0.6 
Other Expenses
 
0.4 
Total Third-Party Transactions
 
1.0 
Net distributions from (to) related party
 
(44.3)
Discontinued Operations [Member] |
Devon Energy Corporation [Member]
 
 
Related Party Transaction [Line Items]
 
 
Net distributions from (to) related party, non-cash
 
$ (39.9)
Long-Term Debt (Indebtedness Table) (Details) (USD $)
In Millions, unless otherwise specified
Mar. 31, 2015
Dec. 31, 2014
Debt Instrument [Line Items]
 
 
Line of Credit Facility, Amount Outstanding
$ 709.0 
$ 237.0 
Other Long-term Debt
0.3 
0.4 
Long-term Debt
2,493.7 
2,022.5 
2.7% Senior Notes due 2019 [Member]
 
 
Debt Instrument [Line Items]
 
 
Senior Notes
399.5 
399.5 
7.125% Senior Notes due 2022 [Member]
 
 
Debt Instrument [Line Items]
 
 
Senior Notes
183.7 
184.4 
4.4% Senior Notes due 2024 [Member]
 
 
Debt Instrument [Line Items]
 
 
Senior Notes
553.1 
553.2 
5.6% Senior Notes due 2044 [Member]
 
 
Debt Instrument [Line Items]
 
 
Senior Notes
349.7 
349.7 
5.05% Senior Notes due 2045 [Member]
 
 
Debt Instrument [Line Items]
 
 
Senior Notes
$ 298.4 
$ 298.3 
Long-Term Debt (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 3 Months Ended
Mar. 31, 2015
Dec. 31, 2014
Feb. 20, 2014
Letter of Credit [Member]
Mar. 31, 2015
2.7% Senior Notes due 2019 [Member]
Dec. 31, 2014
2.7% Senior Notes due 2019 [Member]
Mar. 31, 2015
7.125% Senior Notes due 2022 [Member]
Dec. 31, 2014
7.125% Senior Notes due 2022 [Member]
Mar. 31, 2015
4.4% Senior Notes due 2024 [Member]
Dec. 31, 2014
4.4% Senior Notes due 2024 [Member]
Mar. 31, 2015
5.6% Senior Notes due 2044 [Member]
Dec. 31, 2014
5.6% Senior Notes due 2044 [Member]
Mar. 31, 2015
5.05% Senior Notes due 2045 [Member]
Dec. 31, 2014
5.05% Senior Notes due 2045 [Member]
Mar. 31, 2015
Maximum [Member]
Mar. 31, 2015
Revolving Credit Facility [Member]
Maximum [Member]
Feb. 20, 2014
Pre Amendment [Member]
Feb. 5, 2015
Post Amendment [Member]
Debt Instrument [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other Long-term Debt
$ 0.3 
$ 0.4 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt Instrument, Interest Rate, Stated Percentage
 
 
 
2.70% 
2.70% 
7.125% 
7.125% 
4.40% 
4.40% 
5.60% 
5.60% 
5.05% 
5.05% 
 
 
 
 
Senior Notes
 
 
 
399.5 
399.5 
183.7 
184.4 
553.1 
553.2 
349.7 
349.7 
298.4 
298.3 
 
 
 
 
Debt Instrument, Unamortized Discount (Premium), Net
 
 
 
(0.5)
(0.5)
21.1 
21.9 
3.1 
3.2 
(0.3)
(0.3)
(1.6)
(1.7)
 
 
 
 
Line of Credit Facility, Maximum Borrowing Capacity
1,500.0 
 
500.0 
 
 
 
 
 
 
 
 
 
 
 
 
1,000.0 
1,500.0 
Line Of Credit Facility, Additional Borrowing Limit
500.0 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Leverage ratios
 
 
 
 
 
 
 
 
 
 
 
 
 
5.0 
5.5 
 
 
Conditional acquisition purchase price
 
 
 
 
 
 
 
 
 
 
 
 
 
50.0 
 
 
 
Letters of Credit Outstanding, Amount
2.9 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Long-term Debt
2,493.7 
2,022.5 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Line of Credit Facility, Amount Outstanding
709.0 
237.0 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Line of Credit Facility, Remaining Borrowing Capacity
$ 788.1 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Long-Term Debt (Percentages Per Annum) (Details)
3 Months Ended
Mar. 31, 2015
Base Rate [Member]
 
Line of Credit Facility [Line Items]
 
Line of Credit Facility, Interest Rate During Period
0.50% 
Eurodollar [Member]
 
Line of Credit Facility [Line Items]
 
Line of Credit Facility, Interest Rate During Period
1.00% 
Long-Term Debt (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 12 Months Ended
Mar. 31, 2015
Dec. 31, 2014
Line of Credit [Member]
 
 
Debt Instrument [Line Items]
 
 
Line of Credit Facility, Interest Rate During Period
1.60% 
1.90% 
2.7% Senior Notes due 2019 [Member]
 
 
Debt Instrument [Line Items]
 
 
Senior notes fixed interest rate
2.70% 
2.70% 
Debt Instrument, Unamortized Discount (Premium), Net
$ (0.5)
$ (0.5)
7.125% Senior Notes due 2022 [Member]
 
 
Debt Instrument [Line Items]
 
 
Senior notes fixed interest rate
7.125% 
7.125% 
Debt Instrument, Unamortized Discount (Premium), Net
21.1 
21.9 
4.4% Senior Notes due 2024 [Member]
 
 
Debt Instrument [Line Items]
 
 
Senior notes fixed interest rate
4.40% 
4.40% 
Debt Instrument, Unamortized Discount (Premium), Net
3.1 
3.2 
5.6% Senior Notes due 2044 [Member]
 
 
Debt Instrument [Line Items]
 
 
Senior notes fixed interest rate
5.60% 
5.60% 
Debt Instrument, Unamortized Discount (Premium), Net
(0.3)
(0.3)
5.05% Senior Notes due 2045 [Member]
 
 
Debt Instrument [Line Items]
 
 
Senior notes fixed interest rate
5.05% 
5.05% 
Debt Instrument, Unamortized Discount (Premium), Net
$ (1.6)
$ (1.7)
Partners' Capital (Details Textuals) (USD $)
In Millions, except Share data, unless otherwise specified
3 Months Ended 0 Months Ended 3 Months Ended 0 Months Ended
Mar. 31, 2015
Dec. 31, 2014
Mar. 31, 2014
Mar. 31, 2015
General Partner [Member]
Incentive Distribution Percentage, Level1 [Member]
Mar. 31, 2015
General Partner [Member]
Incentive Distribution Percentage, Level2 [Member]
Mar. 31, 2015
General Partner [Member]
Incentive Distribution Percentage, Level3 [Member]
Mar. 31, 2015
EDA [Member]
BMO Capital Markets Corp. [Member]
Nov. 30, 2014
EDA [Member]
BMO Capital Markets Corp. [Member]
Feb. 17, 2015
EMH Drop Down [Member]
EnLink Midstream Holdings, LP [Member]
Midstream Holdings [Member]
Affiliated Entity [Member]
Acacia [Member]
EnLink Midstream LP [Member]
Feb. 17, 2015
EMH Drop Down [Member]
EnLink Midstream Holdings, LP [Member]
Midstream Holdings [Member]
Affiliated Entity [Member]
Class D Common Unit [Member]
Acacia [Member]
EnLink Midstream LP [Member]
Mar. 31, 2015
Class D Common Unit [Member]
Mar. 31, 2014
Capital Unit, Class B [Member]
Mar. 16, 2015
Common Class C [Member]
Subsidiary Sale Of Stock [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
AggregateAmountOfEquitySecuritiesAllowedUnderEquityDistributionAgreement
 
 
 
 
 
 
 
$ 350.0 
 
 
 
 
 
Percentage of avaliable cash to distribute
100.00% 
 
 
 
 
 
 
 
 
 
 
 
 
Number of days from end of quarter for distribution
45 days 
 
 
 
 
 
 
 
 
 
 
 
 
Distribution Made to Limited Partner, Distribution Date
May 14, 2015 
Feb. 12, 2015 
 
 
 
 
 
 
 
 
 
 
 
Distribution Made to Limited Partner, Distributions Declared, Per Unit
$ 0.38 
$ 0.375 
$ 0.36 
 
 
 
 
 
 
 
$ 0.18 
$ 0.10 
 
Proceeds from issuance of common units
2.2 
 
0 
 
 
 
2.2 
 
 
 
 
 
 
Payments of Stock Issuance Costs
 
 
 
 
 
 
0.1 
 
 
 
 
 
 
AggregateAmountOfEquitySecurityRemainingUnderEquityDistributionAgreement
 
 
 
 
 
 
$ 339.7 
 
 
 
 
 
 
Stock Issued During Period, Shares, Acquisitions
 
 
 
 
 
 
 
 
 
 
 
 
6,704,285 
Related Party Transaction, Amounts of Transaction, Shares
 
 
 
 
 
 
 
 
 
31,618,311 
 
 
 
Related Party Transaction, Ownership Interest Transferred
 
 
 
 
 
 
 
 
25.00% 
 
 
 
 
Incentive Distribution Percentage Levels
 
 
 
13.00% 
23.00% 
48.00% 
 
 
 
 
 
 
 
Incentive Distribution, Distribution Per Unit
 
 
 
$ 0.25 
$ 0.3125 
$ 0.375 
 
 
 
 
 
 
 
Partners' Capital (EPU Computation Schedule) (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Capital Unit [Line Items]
 
 
Distributed Earnings
$ 99.9 
$ 51.5 
Limited partners' interest in net income attributable to EnLink Midstream Partners, LP
9.0 
7.7 
Undistributed Earnings, Basic
(90.9)
(43.8)
Earnings Per Share, Basic
$ 0.03 
$ 0.03 
Diluted per common unit
$ 0.03 
$ 0.03 
Common Unit [Member]
 
 
Capital Unit [Line Items]
 
 
Distributed Earnings
99.5 
51.3 
Limited partners' interest in net income attributable to EnLink Midstream Partners, LP
9.0 
7.6 
Undistributed Earnings, Basic
(90.5)
(43.7)
Restricted Stock Units (RSUs) [Member]
 
 
Capital Unit [Line Items]
 
 
Distributed Earnings
0.4 
0.2 
Limited partners' interest in net income attributable to EnLink Midstream Partners, LP
0 
0.1 
Undistributed Earnings, Basic
$ (0.4)
$ (0.1)
Partners' Capital (Weighted Average Schedule) (Details)
In Millions, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Class of Stock [Line Items]
 
 
Weighted Average Number of Shares Outstanding, Basic
262.9 
229.5 
Dilutive Securities, Effect on Basic Earnings Per Share, Dilutive Convertible Securities
0.4 
0.6 
Weighted Average Number of Shares Outstanding, Diluted
263.3 
230.1 
Common Class C [Member]
 
 
Class of Stock [Line Items]
 
 
Weighted Average Limited Partnership Units Outstanding, Basic
1.1 
0 
Common Units [Member]
 
 
Class of Stock [Line Items]
 
 
Weighted Average Limited Partnership Units Outstanding, Basic
246.7 
109.0 
Class B [Member]
 
 
Class of Stock [Line Items]
 
 
Weighted Average Limited Partnership Units Outstanding, Basic
0 
120.5 
Class D Common Unit [Member]
 
 
Class of Stock [Line Items]
 
 
Weighted Average Limited Partnership Units Outstanding, Basic
15.1 
0 
Partners' Capital (Allocated Net Income (loss) to the General Partner) (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Incentive Distribution Made to Managing Member or General Partner [Line Items]
 
 
General Partner share of net income
$ 10.5 
$ 6.0 
General Partner [Member]
 
 
Incentive Distribution Made to Managing Member or General Partner [Line Items]
 
 
Income allocation for incentive distributions
8.8 
1.4 
Unit-based compensation attributable to ENLC’s restricted units
(7.0)
(0.6)
General Partner interest in net income
0.1 
0.1 
General Partner interest in asset drop
$ 8.6 
$ 5.1 
Partners Capital (Issuance of Common Units) (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Mar. 31, 2015
EDA [Member]
BMO Capital Markets Corp. [Member]
Nov. 30, 2014
EDA [Member]
BMO Capital Markets Corp. [Member]
Mar. 31, 2015
EDA [Member]
BMO Capital Markets Corp, Merrilly Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc, Jeffries LLC, Raymond James and Associates, Inc and RBC Capital Markets LLC [Member]
Mar. 31, 2015
Common Class C [Member]
Class of Stock [Line Items]
 
 
 
 
 
 
AggregateAmountOfEquitySecuritiesAllowedUnderEquityDistributionAgreement
 
 
 
$ 350.0 
 
 
Issuance of common units
362.2 
 
 
 
0.1 
180.0 
Proceeds from issuance of common units
2.2 
0 
2.2 
 
 
 
Payments of Stock Issuance Costs
 
 
0.1 
 
 
 
AggregateAmountOfEquitySecurityRemainingUnderEquityDistributionAgreement
 
 
$ 339.7 
 
 
 
Asset Retirement Obligation (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Dec. 31, 2014
Dec. 31, 2013
Asset Retirement Obligation Disclosure [Abstract]
 
 
 
 
Asset Retirement Obligation
$ 12.1 
$ 8.4 
$ 19.1 
$ 7.7 
Asset Retirement Obligation, Revision of Estimate
(3.9)
0 
 
 
Asset Retirement Obligation, Liabilities Incurred
0 
0.5 
 
 
Asset Retirement Obligation, Accretion Expense
0.1 
0.2 
 
 
Asset Retirement Obligation, Liabilities Settled
(3.2)
0 
 
 
Asset Retirement Obligation, Current
$ 1.1 
 
 
 
Investment in Unconsolidated Affiliate (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Dec. 31, 2014
Schedule of Equity Method Investments [Line Items]
 
 
 
Cash Dividends Paid to Parent Company by Unconsolidated Subsidiaries
$ 6.8 1
$ 2.7 1
 
Income (Loss) from Equity Method Investments
3.7 
4.2 
 
Income (Loss) from Equity Method Investments
267.8 
 
270.8 
Gulf Coast Fractionators [Member]
 
 
 
Schedule of Equity Method Investments [Line Items]
 
 
 
Cash Dividends Paid to Parent Company by Unconsolidated Subsidiaries
2.7 1
0 1
 
Income (Loss) from Equity Method Investments
3.3 1
4.1 
 
Income (Loss) from Equity Method Investments
54.7 
 
54.1 
Equity Method Investment, Ownership Percentage
38.75% 
 
 
Howard Energy Partners [Member]
 
 
 
Schedule of Equity Method Investments [Line Items]
 
 
 
Cash Dividends Paid to Parent Company by Unconsolidated Subsidiaries
4.1 1
2.7 1
 
Income (Loss) from Equity Method Investments
0.4 1
0.1 
 
Income (Loss) from Equity Method Investments
$ 213.1 
 
$ 216.7 
Equity Method Investment, Ownership Percentage
30.60% 
 
 
Employee Incentive Plan (Textuals) (Details) (USD $)
In Millions, except Share data, unless otherwise specified
1 Months Ended 3 Months Ended
Mar. 31, 2015
Mar. 31, 2015
ENLK Restricted Units [Member]
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
Vesting Period
 
3 years 
ENLC Restricted Units [Member]
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
Vesting Period
 
3 years 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value
 
$ 8.6 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period
 
240,760 
Restricted Stock Units (RSUs) [Member] |
ENLK Restricted Units [Member]
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value
 
7.0 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period
 
244,998 
Restricted Stock Units (RSUs) [Member] |
ENLK Restricted Unit March Vest [Member]
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value
 
3.4 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period
128,675 
 
Restricted Stock Units (RSUs) [Member] |
ENLC Restricted Units March Vest [Member]
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value
 
3.4 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period
102,543 
 
Restricted Stock [Member] |
ENLC Restricted Units [Member]
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
Unrecognized compensation cost related to non-vested restricted incentive units
27.4 
27.4 
Unrecognized compensation costs, weighted average period for recognition
 
2 years 1 month 
Enlink midstream, LLC [Member] |
Performance Based Restricted Unit [Member]
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
Unrecognized compensation cost related to non-vested restricted incentive units
3.7 
3.7 
Unrecognized compensation costs, weighted average period for recognition
 
2 years 1 month 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period
 
0 
EnLink Midstream Partners, LP [Member] |
Performance Based Restricted Unit [Member]
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
Unrecognized compensation cost related to non-vested restricted incentive units
3.7 
3.7 
Unrecognized compensation costs, weighted average period for recognition
 
2 years 1 month 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period
 
0 
EnLink Midstream Partners, LP [Member] |
Restricted Stock Units (RSUs) [Member]
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
Unrecognized compensation cost related to non-vested restricted incentive units
$ 27.3 
$ 27.3 
Unrecognized compensation costs, weighted average period for recognition
 
2 years 2 months 
Minimum [Member] |
EnLink Midstream Partners, LP [Member] |
Performance Based Restricted Unit [Member]
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage
 
0.00% 
Minimum [Member] |
Enlink midstream, LLC [Member] |
Performance Based Restricted Unit [Member]
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage
 
0.00% 
Maximum [Member] |
EnLink Midstream Partners, LP [Member] |
Performance Based Restricted Unit [Member]
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage
 
200.00% 
Maximum [Member] |
Enlink midstream, LLC [Member] |
Performance Based Restricted Unit [Member]
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage
 
200.00% 
Employee Incentive Plan (Expense Schedule) (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
 
 
Allocated Share-based Compensation Expense
$ 13.8 
$ 4.0 
General and Administrative Expense [Member]
 
 
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
 
 
Allocated Share-based Compensation Expense
11.9 
1.0 
Operating Expense [Member]
 
 
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
 
 
Allocated Share-based Compensation Expense
1.9 
0.2 
Predecessor [Member] |
General and Administrative Expense [Member]
 
 
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
 
 
Allocated Share-based Compensation Expense
$ 0 
$ 2.8 
Employee Incentive Plan (Compensation Schedule) (Details) (USD $)
In Millions, except Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2015
ENLK Restricted Units [Member] |
Restricted Stock Units (RSUs) [Member]
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
Shares Paid for Tax Withholding for Share Based Compensation
84,860 
Number of Units
 
Non-vested, beginning of period (Units)
1,022,191 
Granted
542,723 
Vested
244,998 
Forfeited
(55,193)
Non-vested, end of period (Units)
1,264,723 
Weighted Average Grant-Date Fair Value
 
Non-vested, beginning of period
$ 31.25 
Granted
$ 27.07 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value
$ 28.62 
Forfeited
$ 31.48 
Non-vested, end of period
$ 29.96 
Aggregate intrinsic value, end of period (in thousands)
$ 31.3 
ENLC Restricted Units [Member]
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
Shares Paid for Tax Withholding for Share Based Compensation
77,519 
Number of Units
 
Non-vested, beginning of period (Units)
986,472 
Granted
462,875 
Vested
240,760 
Forfeited
(47,473)
Non-vested, end of period (Units)
1,161,114 
Weighted Average Grant-Date Fair Value
 
Non-vested, beginning of period
$ 37.03 
Granted
$ 31.74 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value
$ 35.71 
Forfeited
$ 36.60 
Non-vested, end of period
$ 35.21 
Aggregate intrinsic value, end of period (in thousands)
37.8 
Enlink midstream, LLC [Member] |
Performance Based Restricted Unit [Member]
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
Share Based Compensation Arrangement Grant Date Fair Value
$ 34.24 
Number of Units
 
Non-vested, beginning of period (Units)
0 
Granted
96,963 
Vested
0 
Non-vested, end of period (Units)
96,963 
Weighted Average Grant-Date Fair Value
 
Non-vested, beginning of period
$ 0.00 
Granted
$ 41.31 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value
$ 0.00 
Non-vested, end of period
$ 41.31 
Aggregate intrinsic value, end of period (in thousands)
3.2 
Fair Value Assumptions, Risk Free Interest Rate
0.99% 
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate
33.02% 
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate
2.98% 
EnLink Midstream Partners, LP [Member] |
Performance Based Restricted Unit [Member]
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
Share Based Compensation Arrangement Grant Date Fair Value
$ 27.68 
Number of Units
 
Non-vested, beginning of period (Units)
0 
Granted
108,713 
Vested
0 
Non-vested, end of period (Units)
108,713 
Weighted Average Grant-Date Fair Value
 
Non-vested, beginning of period
$ 0.00 
Granted
$ 36.18 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value
$ 0.00 
Non-vested, end of period
$ 36.18 
Aggregate intrinsic value, end of period (in thousands)
$ 2.7 
Fair Value Assumptions, Risk Free Interest Rate
0.99% 
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate
33.01% 
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate
5.66% 
Employee Incentive Plan (Intrinsic and Fair Value of Units Vested) (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended
Mar. 31, 2015
ENLC Restricted Units [Member]
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodIntrinsicValue1
$ 8.3 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value
8.6 
ENLK Restricted Units [Member] |
Restricted Stock Units (RSUs) [Member]
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodIntrinsicValue1
6.8 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value
$ 7.0 
Employee Incentive Plans Total Shareholder Return Unit Summary (Details) (Performance Based Restricted Unit [Member], USD $)
3 Months Ended
Mar. 31, 2015
EnLink Midstream Partners, LP [Member]
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
Share Based Compensation Arrangement Grant Date Fair Value
$ 27.68 
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate
5.66% 
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate
33.01% 
Fair Value Assumptions, Risk Free Interest Rate
0.99% 
Enlink midstream, LLC [Member]
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
Share Based Compensation Arrangement Grant Date Fair Value
$ 34.24 
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate
2.98% 
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate
33.02% 
Fair Value Assumptions, Risk Free Interest Rate
0.99% 
Derivatives (Summary of Derivative Income Expense) (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Derivative Instruments, Gain (Loss) [Line Items]
 
 
Derivative, Gain (Loss) on Derivative, Net
$ 0.2 
$ (1.3)
Gain (loss) on derivative activity
0.2 
(1.3)
Commodity Swap [Member]
 
 
Derivative Instruments, Gain (Loss) [Line Items]
 
 
Derivative, Gain (Loss) on Derivative, Net
(3.7)
(0.7)
Change in fair value of derivatives
$ 3.9 
$ (0.6)
Derivatives (Schedule of Derivative Assets Liabilities) (Details) (USD $)
In Millions, unless otherwise specified
Mar. 31, 2015
Dec. 31, 2014
Derivatives, Fair Value [Line Items]
 
 
Fair value of derivative assets — current
$ 14.3 
$ 16.7 
Fair value of derivative assets — long term
7.6 
10.0 
Fair value of derivative liabilities — current
(3.0)
(3.0)
Fair value of derivative liabilities — long term
(1.5)
(2.0)
Net fair value of derivatives
17.4 
21.7 
Not Designated as Hedging Instrument [Member]
 
 
Derivatives, Fair Value [Line Items]
 
 
Net fair value of derivatives
$ 17.4 
 
Derivatives (Derivatives Outstanding) (Details) (USD $)
In Millions, unless otherwise specified
Mar. 31, 2015
Dec. 31, 2014
Derivative [Line Items]
 
 
Total mark to market derivatives
$ 17.4 
$ 21.7 
Not Designated as Hedging Instrument [Member]
 
 
Derivative [Line Items]
 
 
Total mark to market derivatives
17.4 
 
Liquids [Member] |
Short Contracts [Member] |
Not Designated as Hedging Instrument [Member]
 
 
Derivative [Line Items]
 
 
Derivative Nonmonetary Notional Amount
(54,700,000)
 
Total mark to market derivatives
21.7 
 
Liquids [Member] |
Long Contracts [Member] |
Not Designated as Hedging Instrument [Member]
 
 
Derivative [Line Items]
 
 
Derivative Nonmonetary Notional Amount
(44,600,000)
 
Total mark to market derivatives
(4.1)
 
Gas [Member] |
Short Contracts [Member] |
Not Designated as Hedging Instrument [Member]
 
 
Derivative [Line Items]
 
 
Derivative Nonmonetary Notional Amount
(600,000)
 
Total mark to market derivatives
0.1 
 
Gas [Member] |
Long Contracts [Member] |
Not Designated as Hedging Instrument [Member]
 
 
Derivative [Line Items]
 
 
Derivative Nonmonetary Notional Amount
(400,000)
 
Total mark to market derivatives
(0.3)
 
Crude and Condensate |
Short Contracts [Member] |
Not Designated as Hedging Instrument [Member]
 
 
Derivative [Line Items]
 
 
Derivative Nonmonetary Notional Amount
0 
 
Total mark to market derivatives
(0.1)
 
Crude and Condensate |
Long Contracts [Member] |
Not Designated as Hedging Instrument [Member]
 
 
Derivative [Line Items]
 
 
Derivative Nonmonetary Notional Amount
0 
 
Total mark to market derivatives
$ 0.1 
 
Derivatives (Details Textuals) (USD $)
In Millions, unless otherwise specified
Mar. 31, 2015
Derivative [Line Items]
 
Maximum counterparty loss
$ (21.9)
Maximum counterparty loss with netting feature
$ (17.4)
Derivatives (Derivatives Other Than Cash Flow Hedges Table) (Details) (USD $)
In Millions, unless otherwise specified
Mar. 31, 2015
Derivative [Line Items]
 
Derivative Instruments at fair value
$ 17.4 
Market Approach Valuation Technique [Member] |
Less than on year
 
Derivative [Line Items]
 
Derivative Instruments at fair value
11.3 
Market Approach Valuation Technique [Member] |
One to two years
 
Derivative [Line Items]
 
Derivative Instruments at fair value
6.1 
Market Approach Valuation Technique [Member] |
More than two years
 
Derivative [Line Items]
 
Derivative Instruments at fair value
$ 0 
Fair Value Measurement (Fair Measurement on a Recurring Nonrecurring Basis) (Details) (Fair Value, Inputs, Level 2 [Member], Commodity Swap [Member], Fair Value, Measurements, Recurring [Member], USD $)
In Millions, unless otherwise specified
Mar. 31, 2015
Dec. 31, 2014
Fair Value, Inputs, Level 2 [Member] |
Commodity Swap [Member] |
Fair Value, Measurements, Recurring [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Net Fair value of derivatives
$ 17.4 
$ 21.7 
Fair Value Measurement (Fair Value of Financial Instrument) (Details) (USD $)
In Millions, unless otherwise specified
Mar. 31, 2015
Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
 
 
Long-term Debt
$ 2,493.7 
$ 2,022.5 
Carrying Value [Member]
 
 
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
 
 
Obligations under capital lease
19.3 
20.3 
Fair Value [Member]
 
 
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
 
 
Long-term Debt, Fair Value
2,571.2 
2,026.1 
Obligations under capital lease
$ 18.7 
$ 19.8 
Fair Value Measurement (Details Textuals) (USD $)
In Millions, unless otherwise specified
Mar. 31, 2015
Dec. 31, 2014
Debt Instrument [Line Items]
 
 
Line of Credit Facility, Amount Outstanding
$ 709.0 
$ 237.0 
Long-term Debt
2,493.7 
2,022.5 
2.7% Senior Notes due 2019 [Member]
 
 
Debt Instrument [Line Items]
 
 
Senior Notes
399.5 
399.5 
Senior notes fixed interest rate
2.70% 
2.70% 
4.4% Senior Notes due 2024 [Member]
 
 
Debt Instrument [Line Items]
 
 
Senior Notes
553.1 
553.2 
Senior notes fixed interest rate
4.40% 
4.40% 
5.6% Senior Notes due 2044 [Member]
 
 
Debt Instrument [Line Items]
 
 
Senior Notes
349.7 
349.7 
Senior notes fixed interest rate
5.60% 
5.60% 
5.05% Senior Notes due 2045 [Member]
 
 
Debt Instrument [Line Items]
 
 
Senior Notes
298.4 
298.3 
Senior notes fixed interest rate
5.05% 
5.05% 
7.125% Senior Notes due 2022 [Member]
 
 
Debt Instrument [Line Items]
 
 
Senior Notes
$ 183.7 
$ 184.4 
Senior notes fixed interest rate
7.125% 
7.125% 
Commitments and Contingencies (Details) (USD $)
In Millions, unless otherwise specified
1 Months Ended
Aug. 31, 2014
Gain Contingencies [Line Items]
 
Gain on Litigation Settlement
$ 6.1 
Segment Information (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Dec. 31, 2014
Segment Reporting Information [Line Items]
 
 
 
Sales to external customers
$ 773.1 
$ 232.4 
 
Sales to affiliates
163.0 
491.9 
 
Purchased gas, NGLs, condensate and crude oil
(657.4)
(538.9)
 
Operating expenses
(96.2)
(46.2)
 
Gain (loss) on derivative activity
0.2 
(1.3)
 
Segment profit
182.7 
137.9 
 
Depreciation and amortization
(90.0)
(48.2)
 
Goodwill
2,283.1 
2,438.1 
2,257.8 
Capital Expenditures
153.5 
67.9 
 
Identifiable assets
9,370.9 
 
8,592.7 
Texas Operating Segment [Member]
 
 
 
Segment Reporting Information [Line Items]
 
 
 
Sales to external customers
70.7 
48.3 
 
Sales to affiliates
140.6 
335.9 
 
Purchased gas, NGLs, condensate and crude oil
(66.5)
(257.7)
 
Operating expenses
(48.5)
(31.7)
 
Gain (loss) on derivative activity
0 
0 
 
Segment profit
96.3 
94.8 
 
Depreciation and amortization
(36.5)
(27.2)
 
Goodwill
1,168.2 
1,256.7 
1,168.2 
Capital Expenditures
73.7 
25.1 
 
Identifiable assets
3,958.7 
 
3,302.9 
Louisiana Operating Segment [Member]
 
 
 
Segment Reporting Information [Line Items]
 
 
 
Sales to external customers
429.7 
152.5 
 
Sales to affiliates
11.9 
0.5 
 
Purchased gas, NGLs, condensate and crude oil
(376.4)
(140.5)
 
Operating expenses
(22.5)
(5.1)
 
Gain (loss) on derivative activity
0 
0 
 
Segment profit
42.7 
7.4 
 
Depreciation and amortization
(27.4)
(5.2)
 
Goodwill
786.8 
885.1 
786.8 
Capital Expenditures
17.8 
22.1 
 
Identifiable assets
3,175.7 
 
3,316.5 
Oklahoma Operating Segment [Member]
 
 
 
Segment Reporting Information [Line Items]
 
 
 
Sales to external customers
9.0 
11.5 
 
Sales to affiliates
34.9 
162.9 
 
Purchased gas, NGLs, condensate and crude oil
(3.4)
(133.8)
 
Operating expenses
(7.9)
(6.7)
 
Gain (loss) on derivative activity
0 
0 
 
Segment profit
32.6 
33.9 
 
Depreciation and amortization
(13.5)
(14.2)
 
Goodwill
190.3 
190.3 
190.3 
Capital Expenditures
5.4 
10.2 
 
Identifiable assets
883.4 
 
892.8 
Crude and Condensate
 
 
 
Segment Reporting Information [Line Items]
 
 
 
Sales to external customers
263.7 
20.1 
 
Sales to affiliates
0 
0 
 
Purchased gas, NGLs, condensate and crude oil
(235.5)
(14.3)
 
Operating expenses
(17.3)
(2.7)
 
Gain (loss) on derivative activity
0 
0 
 
Segment profit
10.9 
3.1 
 
Depreciation and amortization
(11.1)
(1.5)
 
Goodwill
137.8 
106.0 
112.5 
Capital Expenditures
52.3 
5.0 
 
Identifiable assets
1,036.7 
 
762.5 
Corporate Segment [Member]
 
 
 
Segment Reporting Information [Line Items]
 
 
 
Sales to external customers
0 
0 
 
Sales to affiliates
(24.4)
(7.4)
 
Purchased gas, NGLs, condensate and crude oil
24.4 
7.4 
 
Operating expenses
0 
0 
 
Gain (loss) on derivative activity
0.2 
(1.3)
 
Segment profit
0.2 
(1.3)
 
Depreciation and amortization
(1.5)
(0.1)
 
Goodwill
0 
0 
 
Capital Expenditures
4.3 
5.5 
 
Identifiable assets
$ 316.4 
 
$ 318.0 
Segment Information (Reconciliation of Segment Profit to Operating Income) (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Segment Reporting [Abstract]
 
 
Segment profit
$ 182.7 
$ 137.9 
General and administrative
(41.9)
(15.3)
Depreciation and amortization
(90.0)
(48.2)
Operating income
$ 50.8 
$ 74.4 
Discontinued Operations (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
 
 
Disposal Group, Including Discontinued Operation, Revenue, External
 
$ 6.8 
Disposal Group, Including Discontinued Operation, Revenue, Related Party
 
10.5 
Operating revenues
 
17.3 
Operating expenses
 
15.7 
Disposal Group, Including Discontinued Operation, Total
 
15.7 
Income before income taxes
 
1.6 
Income tax expense
 
0.6 
Net income
0 
1.0 
Net income including non-controlling interest
$ 0 
$ 1.0 
Gulf Coast Fractionators [Member]
 
 
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
 
 
Equity Method Investment, Ownership Percentage
38.75% 
38.75% 
Supplemental Cash Flow Information (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Other Significant Noncash Transactions [Line Items]
 
Other Significant Noncash Transaction, Value of Consideration Given
$ 180.0 
Common Class C [Member]
 
Other Significant Noncash Transactions [Line Items]
 
Other Significant Noncash Transaction, Value of Consideration Given
180.0 
Midstream Holdings [Member]
 
Other Significant Noncash Transactions [Line Items]
 
Other Significant Noncash Transaction, Value of Consideration Given
$ 20.9 
Subsequent Events (Details) (Subsequent Event [Member], USD $)
0 Months Ended
Apr. 1, 2015
Apr. 1, 2015
VEX Pipeline [Member]
 
 
Subsequent Event [Line Items]
 
 
Business Combination, Consideration Transferred
$ 171,000,000 
 
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable
338,159 
 
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned
 
9,000,000 
Scenario, Forecast [Member]
 
 
Subsequent Event [Line Items]
 
 
Future Capital Expenditures Related To Acquisition Of A Business
$ 40,000,000 
$ 40,000,000