Enbridge Energy Management L L C (EEQ) Inactive 10-Q2 May 142014 Q1 Quarterly reportFinancial data

Company Profile

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
Document And Entity Information	Mar. 31, 2014	1-May-14
Document and Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	31-Mar-14	'
Document Fiscal Period Focus	'Q1	'
Document Fiscal Year Focus	'2014	'
Trading Symbol	'eeq	'
Entity Registrant Name	'ENBRIDGE ENERGY MANAGEMENT L L C	'
Entity Central Index Key	'0001173911	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	64,984,745
Entity Current Reporting Status	'Yes	'
Entity Shell Company	'No	'
Entity Interactive Data File	'Yes	'

Statements_Of_Income

Statements Of Income (USD $)	3 Months Ended
In Millions, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Statements Of Income	'	'
Equity loss (income) from investment in Enbridge Energy Partners, L.P.	$11.40	($21.80)
Income (loss) before income tax expense	11.4	-21.8
Income tax expense (benefit)	4.2	-8
Net income (loss)	$7.20	($13.80)
Net Income (loss) Per Share, Basic	$0.11	($0.31)
Net Income (Loss) Per Share, Diluted	$0.11	($0.31)
Weighted average shares outstanding	64.4	45.1

Statements_Of_Comprehensive_In

Statements Of Comprehensive Income (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Statements Of Comprehensive Income	'	'
Net income (loss)	$7.20	($13.80)
Equity in other comprehensive income (loss) of Enbridge Energy Partners, L.P., net of tax expense (benefit)	-8.5	2.8
Comprehensive income (loss)	($1.30)	($11)

Statements_Of_Comprehensive_In1

Statements Of Comprehensive Income (Parenthetical) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Statements Of Comprehensive Income	'	'
Tax expense (benefit ) on OCI:	($5)	$1.70

Statements_Of_Cash_Flows

Statements Of Cash Flows (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Cash provided by (used in) operating activities:	'	'
Net income (loss)	$7.20	($13.80)
Adjustments to reconcile net income (loss) to net cash flows from operating activities:	'	'
Equity loss (income) from investment in Enbridge Energy Partners, L.P.	-11.4	21.8
Changes in operating assets and liabilities:	'	'
Due from affiliates	0.2	0.2
Due to affiliates	-0.1	-0.1
Deferred income taxes	4.2	-8
Other	-0.1	0.6
Net cash provided by (used in) operating activities	0	0.7
Cash used in investing activities	'	'
Investment in Enbridge Energy Partners, L.P.	0	-272.9
Net cash used in investing activities	0	-272.9
Cash provided by financing activities:	'	'
Net proceeds from shares issuance	0	272.9
Net cash provided by financing activities	0	272.9
Net increase (decrease) in cash and cash equivalents	0	0.7
Cash and cash equivalents at beginning of year	0.7	0.1
Cash and cash equivalents at end of period	$0.70	$0.80

Statements_Of_Financial_Positi

Statements Of Financial Position (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
ASSETS	'	'
Cash	$0.70	$0.70
Due from affiliates	0.1	0.3
Investment in Enbridge Energy Partners, L.P.	1,267.70	1,269.80
Assets, total	1,268.50	1,270.80
LIABILITIES AND SHAREHOLDERS' EQUITY	'	'
Accounts payable and accrued liabilities	0.6	0.7
Due to affiliates	0.1	0.2
Deferred income tax liability	150.1	150.8
Liabilities, total	150.8	151.7
Commitments and contingencies	'	'
Shareholders' equity	'	'
Listed share value	1,638.50	1,603.90
Accumulated deficit	-503.3	-475.8
Accumulated other comprehensive loss	-17.5	-9
Total shareholders' equity	1,117.70	1,119.10
Total liabilities and stockholders' equity	$1,268.50	$1,270.80

Statements_Of_Financial_Positi1

Statements Of Financial Position (Parenthetical)	Mar. 31, 2014	Dec. 31, 2013
Voting Shares [Member]	'	'
Shares, outstanding	4.9	4.81
Shares, issued	4.9	4.81
Nonvoting Common Stock [Member]	'	'
Shares, outstanding	64,984,745	63,743,094
Shares, issued	64,984,745	63,743,094

Basis_Of_Presentation

Basis Of Presentation	3 Months Ended
Basis Of Presentation	Mar. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
General	'
	1. BASIS OF PRESENTATION
	We are a limited partner of Enbridge Energy Partners, L.P., which we refer to as the Partnership, through our ownership of i-units, a special class of the Partnership's limited partner interests. Under a delegation of control agreement among us, the Partnership and its general partner, Enbridge Energy Company, Inc., referred to as the General Partner, we manage the Partnership's business and affairs. We have prepared the accompanying unaudited interim financial statements in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, they contain all adjustments, consisting only of normal recurring adjustments, which management considers necessary to present fairly our financial position at March 31, 2014, our results of operations for the three month periods ended March 31, 2014 and 2013 and our cash flows for the three month periods ended March 31, 2014 and 2013. We derived our statement of financial position as of December 31, 2013 from the audited financial statements included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2013. Our results of operations for the three month period ended March 31, 2014 should not be taken as indicative of the results to be expected for the full year. The unaudited interim financial statements should be read in conjunction with our financial statements and notes thereto presented in our Annual Report on Form 10-K for the fiscal year ended December 31, 2013. Our results of operations, financial position and cash flows are dependent on the results of operations, financial position and cash flows of the Partnership. As a result, you should also read these unaudited interim financial statements in conjunction with the Partnership's audited consolidated financial statements and notes thereto presented in its Annual Report on Form 10-K for the fiscal year ended December 31, 2013, as well as the Partnership's unaudited interim consolidated financial statements presented in its Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2014.
	Partnership Incentive Distribution Rights
	The General Partner receives incremental incentive cash distributions related to its incentive distribution rights, or IDRS, on the portion of cash distributions that exceed certain target thresholds on a per unit basis under the Enbridge Energy Partners, L.P. partnership agreement. The incentive distributions payable to the General Partner are 15%, 25% and 50% of all quarterly distributions of available cash that exceed target levels of $0.295, $0.35 and $0.495 per limited partner unit, respectively. The distributable amount of the IDRS is divided among the Partnership's limited partners: (1) Class A common units, (2) Class B common units and (3) i-units based on our ownership interest in the Partnership. Thus, our “Equity income (loss) from investment in Enbridge Energy Partners, L.P.” on our statements of income includes a pro-rata share of the IDRS cost every quarter.
	Partnership Preferred Unit Issuance
	On May 7, 2013, the Partnership sold to the General Partner 48,000,000 Preferred Units, representing limited partner interests in the Partnership, for proceeds of approximately $1.2 billion. These Preferred Units are entitled to annual cash distributions, payable quarterly; however, during the first full eight quarters ending June 30, 2015, the cash distributions will accrue and accumulate and will be payable upon the earlier of the fifth anniversary of the issuance of Preferred Units or redemption of such Preferred Units by the Partnership. On or after June 1, 2016, at the sole option of the holder of the Preferred Units, the Preferred Units may be converted into the Partnership's Class A common units.
	At the time of issuance, the Preferred Units were issued at a discount to the market price of the Class A common units into which they are convertible. This discount represents a beneficial conversion feature, which is distributed ratably from the issuance date through the first available conversion date. The discount and cash distributions to the holder of the Preferred Units results in an increase in the Partnership's preferred capital and a decrease to our i-unit investment ownership in the Partnership through its impact to our “Equity income (loss) from investment in Enbridge Energy Partners, L.P.” on our statements of income. Quarterly cash distributions to the holder of the Preferred Units, whether accrued or paid, will reduce the amount of distributable cash available to the Partnership's holders of general and limited partner units, including i-units.

Share_Distribution

Share Distribution

3 Months Ended

Mar. 31, 2014

Distributions Made to Members or Limited Partners [Abstract]

Share distributions [Text Block]

2. SHARE DISTRIBUTION

The following table sets forth the details regarding our share distributions, as approved by our board of directors, for the three month period ended March 31, 2014.

Distribution

Average

Listed

per Unit

Closing

Additional

Distributed

Distribution

of the

Price of the

i-units

Distributed

to General

Declaration Date

Record Date

Payment Date

Partnership

Listed Shares

Owned

to Public

Partner

(in millions, except per unit and per share amounts)

30-Jan-14

7-Feb-14

14-Feb-14

0.5435

27.9

1,241,652

1,096,544

145,108

We had non-cash operating activities in the form of i-units distributed to us by the Partnership and corresponding non-cash financing activities in the form of share distributions to our shareholders in the amounts of $34.6 million and $22.4 million during the three month periods ended March 31, 2014 and 2013, respectively.

Capital_Account_Adjustments_On

Capital Account Adjustments On Issuances Of Common Units By Enbridge Energy Partners, L.P.

3 Months Ended

Mar. 31, 2014

Capital Account Adjustments On Issuances Of Common Units By Enbridge Energy Partners, L.P.

3. ISSUANCES OF LISTED SHARES BY US

In March 2013, we completed a public offering of 10,350,000 Listed Shares, representing limited liability company interests with limited voting rights, at a price to the underwriters of $26.44 per Listed Share. We received net proceeds of $272.9 million, which we subsequently invested in an equal number of the Partnership's i-units.

The following table presents our issuances of additional Listed Shares for the three month period ended March 31, 2013:

Ownership

Number of

Average

Net Proceeds

Percentage in the

Listed Shares

Offering Price

to the

Partnership Prior

Partnership After

Issuance Date

Issued

per Listed Share

Company⁽¹⁾

to the Issuance

the Issuance

(in millions, except shares and per share amount)

2013

1-Mar

10,350,000

26.44

272.9

13.5

16.3

______________________________

(1)

Net of underwriters’ fees and discounts, commissions and issuance expenses, if any.

Summarized_Financial_Informati

Summarized Financial Information For Enbridge Energy Partners, L.P.	3 Months Ended
	Mar. 31, 2014
Equity Method Investment, Summarized Financial Information [Abstract]	'
Summarized Financial Information For Enbridge Energy Partners, L.P.	'
	4. SUMMARIZED FINANCIAL INFORMATION FOR ENBRIDGE ENERGY PARTNERS, L.P.
				For the three month
				period ended March 31,
				2014		2013
				(in millions)
	Operating revenue			$	2,079.60	$	1,693.00
	Operating expenses				1,864.90		1,690.60
	Operating income			$	214.7	$	2.4

	Net income (loss)			$	155.7	$	-67.7
		Less: Net income attributable to:
			Noncontrolling interest		36.3		15.6
			Series 1 preferred unit distributions⁽¹⁾		22.5		-
			Accretion of discount on Series 1 preferred units⁽¹⁾		3.6		-
	Net income (loss) attributable to Enbridge Energy Partners, L.P.			$	93.3	$	-83.3

		Less: Net income attributable to the General Partner			34.4		29.6
	Net income (loss) attributable to limited partners⁽²⁾			$	58.9	$	-112.9
	_______________________
	(1)	The Partnership sold its Preferred Units to the General Partner on May 7, 2013 and filed a Current Report on Form 8-K on May 13, 2013 detailing the terms and properties of the new series of units.
	(2)	The Partnership allocates its net income among the holders of Preferred Units, the General Partner and limited partners first using preferred unit distributions and then the two-class method in accordance with applicable authoritative accounting guidance. Under the two-class method, the Partnership allocates its net income, after noncontrolling interest and preferred unit distributions, including any IDRs embedded in the general partner interest, to the General Partner and its limited partners, including us, according to the distribution formula for available cash as set forth in its partnership agreement.

			We owned approximately 19.5% and 16.3% of the Partnership at March 31, 2014 and 2013, respectively.

Subsequent_Events

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2014
Subsequent Events	'
Subsequent Events	'
	5. SUBSEQUENT EVENTS
	Share Distribution
	On April 30, 2014, our board of directors declared a share distribution payable on May 15, 2014, to shareholders of record as of May 8, 2014, based on the $0.5435 per limited partner unit distribution declared by the Partnership. The Partnership's distribution increases the number of i-units we own. The amount of this increase is calculated by dividing the cash amount distributed by the Partnership per common unit by the average closing price of one of our Listed Shares on the New York Stock Exchange for the 10 trading day period immediately preceding the ex-dividend date for our shares, multiplied by the number of shares outstanding on the record date. We distribute additional Listed Shares to our Listed shareholders and additional voting shares to the General Partner in respect of these additional i-units.

Basis_of_Presentation_Policies

Basis of Presentation (Policies)	3 Months Ended
Basis of Presentation (Policies)	Mar. 31, 2014
Incentive Distribution, Managing Member or General Partner [Abstract]	'
Incentive Distribution Policy, Managing Member or General Partner, Description [Policy Text Block]	'
	Partnership Incentive Distribution Rights
	The General Partner receives incremental incentive cash distributions related to its incentive distribution rights, or IDRS, on the portion of cash distributions that exceed certain target thresholds on a per unit basis under the Enbridge Energy Partners, L.P. partnership agreement. The incentive distributions payable to the General Partner are 15%, 25% and 50% of all quarterly distributions of available cash that exceed target levels of $0.295, $0.35 and $0.495 per limited partner unit, respectively. The distributable amount of the IDRS is divided among the Partnership's limited partners: (1) Class A common units, (2) Class B common units and (3) i-units based on our ownership interest in the Partnership. Thus, our “Equity income (loss) from investment in Enbridge Energy Partners, L.P.” on our statements of income includes a pro-rata share of the IDRS cost every quarter.

Share_Distribution_Tables

Share Distribution (Tables)

3 Months Ended

Mar. 31, 2014

Distributions Made to Members or Limited Partners [Abstract]

Schedule Of Share Distribution

Distribution

Average

Listed

per Unit

Closing

Additional

Distributed

Distribution

of the

Price of the

i-units

Distributed

to General

Declaration Date

Record Date

Payment Date

Partnership

Listed Shares

Owned

to Public

Partner

(in millions, except per unit and per share amounts)

30-Jan-14

7-Feb-14

14-Feb-14

0.5435

27.9

1,241,652

1,096,544

145,108

Capital_Account_Adjustments_On1

Capital Account Adjustments On Issuances Of Common Units By Enbridge Energy Partners, L.P. (Tables)

3 Months Ended

Mar. 31, 2014

Capital Account Adjustments On Issuances Of Common Units By Enbridge Energy Partners, L.P.

Schedule of Listed Shares Issued [Table Text Block]

Ownership

Number of

Average

Net Proceeds

Percentage in the

Listed Shares

Offering Price

to the

Partnership Prior

Partnership After

Issuance Date

Issued

per Listed Share

Company⁽¹⁾

to the Issuance

the Issuance

(in millions, except shares and per share amount)

2013

1-Mar

10,350,000

26.44

272.9

13.5

16.3

______________________________

(1)

Net of underwriters’ fees and discounts, commissions and issuance expenses, if any.

Summarized_Financial_Informati1

Summarized Financial Information For Enbridge Energy Partners, L.P. (Tables)	3 Months Ended
	Mar. 31, 2014
Equity Method Investment, Summarized Financial Information [Abstract]	'
Schedule Of Summarized Financial Information For Enbridge Energy Partners, L.P.	'
				For the three month
				period ended March 31,
				2014		2013
				(in millions)
	Operating revenue			$	2,079.60	$	1,693.00
	Operating expenses				1,864.90		1,690.60
	Operating income			$	214.7	$	2.4

	Net income (loss)			$	155.7	$	-67.7
		Less: Net income attributable to:
			Noncontrolling interest		36.3		15.6
			Series 1 preferred unit distributions⁽¹⁾		22.5		-
			Accretion of discount on Series 1 preferred units⁽¹⁾		3.6		-
	Net income (loss) attributable to Enbridge Energy Partners, L.P.			$	93.3	$	-83.3

		Less: Net income attributable to the General Partner			34.4		29.6
	Net income (loss) attributable to limited partners⁽²⁾			$	58.9	$	-112.9
	_______________________
	(1)	The Partnership sold its Preferred Units to the General Partner on May 7, 2013 and filed a Current Report on Form 8-K on May 13, 2013 detailing the terms and properties of the new series of units.
	(2)	The Partnership allocates its net income among the holders of Preferred Units, the General Partner and limited partners first using preferred unit distributions and then the two-class method in accordance with applicable authoritative accounting guidance. Under the two-class method, the Partnership allocates its net income, after noncontrolling interest and preferred unit distributions, including any IDRs embedded in the general partner interest, to the General Partner and its limited partners, including us, according to the distribution formula for available cash as set forth in its partnership agreement.

			We owned approximately 19.5% and 16.3% of the Partnership at March 31, 2014 and 2013, respectively.

Basis_of_Presentation_Incentiv

Basis of Presentation (Incentive Distribution Rights) (Details) (USD $)	3 Months Ended
	Mar. 31, 2014
First Target Distribution [Member]	'
Incentive Distribution Made to Managing Member or General Partner [Line Items]	'
Incentive Distribution, Distribution Per Unit	$0.30
Incentive Distribution, Payments Made and Minimum Distribution Level	'15%
Second Target Distribution [Member]	'
Incentive Distribution Made to Managing Member or General Partner [Line Items]	'
Incentive Distribution, Distribution Per Unit	$0.35
Incentive Distribution, Payments Made and Minimum Distribution Level	'25%
Over Second Target Distribution [Member]	'
Incentive Distribution Made to Managing Member or General Partner [Line Items]	'
Incentive Distribution, Distribution Per Unit	$0.50
Incentive Distribution, Payments Made and Minimum Distribution Level	'50%

Basis_of_Presentation_Preferre

Basis of Presentation (Preferred Units) (Details) (Preferred Stock, Convertible [Member], Enbridge Energy Partners Lp [Member], USD $)	Mar. 31, 2014	Jun. 30, 2013
In Billions, except Share data, unless otherwise specified	Mar. 31, 2014	Jun. 30, 2013
Preferred Stock, Convertible [Member] \| Enbridge Energy Partners Lp [Member]	'	'
Preferred Units [Line Items]	'	'
Preferred Units, Issued	'	48,000,000
Preferred Unit Optional Conversion Date	'June 1, 2016	'
Preferred Unit Distribution Deferral Date	'June 30, 2015	'
Preferred Unit Purchase Agreement Date	'May 7, 2013	'
Net Proceeds to Partnership	'	$1.20

Share_Distribution_Schedule_Of

Share Distribution (Schedule Of Share Distribution) (Details) (USD $)	3 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Non-cash financing activities	$34.60	$22.40
First Quarter Distribution [Member]	'	'
Distribution Declaration Date	30-Jan-14	'
Record Date	7-Feb-14	'
Distribution Payment Date	14-Feb-14	'
Distribution per Unit of the Partnership	$0.54	'
Average Closing Price of the Listed Shares	$27.90	'
Listed Shares distributed to Public	1,096,544	'
Shares distributed to General Partner	145,108	'
Additional i-units owned	1,241,652	'

Capital_Account_Adjustments_On2

Capital Account Adjustments On Issuances Of Common Units By Enbridge Energy Partners, L.P. (Schedule Of Listed Share Issuance) (Details) (March 2013 Listed Share Issuance, USD $)	3 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2013
March 2013 Listed Share Issuance	'
Number of Listed Shares Issued	10,350,000
Average Offering Price per share	$26.44
Net Proceeds to the Partnership	$272.90
Ownership Percentage in the Partnership Prior to the Issuance	13.50%
Ownership Percentage in the Partnership After the Issuance	16.30%
Transaction date, Sale of Stock	1-Mar-13

Summarized_Financial_Informati2

Summarized Financial Information For The Partnership (Schedule Of Quarterly Financial Information) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014		Mar. 31, 2013
Equity Method Investment, Ownership Percentage	19.50%		16.30%
Enbridge Energy Partners Lp [Member]	'		'
Operating revenues	$2,079.60		$1,693
Operating expenses	1,864.90		1,690.60
Operating income	214.7		2.4
Net income (loss)	155.7		-67.7
Less: Net income attributable to noncontrolling interest	36.3		15.6
Less: Net income attributable to Series 1 preferred unit dsitributions	22.5	[1]	'
Less: Net income attributable to accretion of discount on Series 1 preferred units	3.6	[1]	'
Net income (loss) attributable to Enbridge Energy Partners, L.P.	93.3		-83.3
Less: Net income attributable to the General Partner	34.4		29.6
Net income (loss) attributable to limited partners	$58.90	[2]	($112.90)	[2]

[1]	The Partnership sold its Preferred Units to the General Partner on May 7, 2013 and filed a Current Report on Form 8-K on May 13, 2013 detailing the terms and properties of the new series of units.
[2]	The Partnership allocates its net income among the holders of Preferred Units, the General Partner and limited partners first using preferred unit distributions and then the two-class method in accordance with applicable authoritative accounting guidance. Under the two-class method, the Partnership allocates its net income, after noncontrolling interest and preferred unit distributions, including any IDRs embedded in the general partner interest, to the General Partner and its limited partners, including us, according to the distribution formula for available cash as set forth in its partnership agreement.

Subsequent_Events_Details

Subsequent Events (Details) (USD $)	3 Months Ended
Subsequent Events (Details) (USD $)	Mar. 31, 2014
Limited partner unit distribution declared per unit	$0.54
Subsequent Event [Member]	'
Distribution Declaration Date	30-Apr-14
Record Date	8-May-14
Distribution Payment Date	15-May-14