Debt (Tables)

9 Months Ended

Sep. 30, 2013

The following table summarizes the components of debt as of September 30, 2013 and December 31, 2012:



	September 30, 2013			December 31, 2012
	(in millions)
Manufacturing/Corporate – Recourse:
Revolving credit facility	$	—		$	—
Convertible subordinated notes	450.0			450.0
Less: unamortized discount	(77.6		)	(87.5		)
	372.4			362.5
Other	0.9			1.2
	373.3			363.7
Leasing – Recourse:
Capital lease obligations	42.9			45.8
Term loan	—			48.6
	42.9			94.4
Total recourse debt	416.2			458.1

Leasing – Non-recourse:
Wholly-owned subsidiaries:
2006 secured railcar equipment notes	244.7			255.8
Promissory notes	403.5			424.1
2009 secured railcar equipment notes	201.6			209.2
2010 secured railcar equipment notes	330.4			341.5
TILC warehouse facility	152.0			173.6
	1,332.2			1,404.2
Partially-owned subsidiaries:
TRL 2012 secured railcar equipment notes - RIV 2013	505.6			333.8
TRIP Master Funding secured railcar equipment notes	767.1			797.7
TRIP Holdings senior secured notes:
Total outstanding	—			170.0
Less: owned by Trinity	—			(108.8		)
	—			61.2
	1,272.7			1,192.7
Total non–recourse debt	2,604.9			2,596.9
Total debt	$	3,021.1		$	3,055.0

Total interest expense recognized on the Convertible Subordinated Notes

Total interest expense recognized on the Convertible Subordinated Notes for the three and nine months ended September 30, 2013 and 2012 is as follows:



	Three Months Ended September 30,				Nine Months Ended September 30,
	2013		2012		2013		2012
	(in millions)
Coupon rate interest	$	4.4	$	4.4	$	13.1	$	13.1
Amortized debt discount	3.4		3.1		9.9		9.1
	$	7.8	$	7.5	$	23.0	$	22.2

Remaining principal payments under existing debt agreements

The remaining principal payments under existing debt agreements as of September 30, 2013 are as follows:



	Remaining three months of 2013		2014		2015		2016		2017		Thereafter
	(in millions)
Recourse:
Manufacturing/Corporate	$	—	$	0.2	$	0.2	$	0.2	$	0.3	$	450.0
Leasing – capital lease obligations (Note 6)	0.7		3.1		3.3		3.5		3.7		28.6
Non-recourse – leasing (Note 6):
2006 secured railcar equipment notes	4.0		16.9		18.6		21.9		24.1		159.2
Promissory notes	7.3		26.1		23.9		346.2		—		—
2009 secured railcar equipment notes	2.6		9.9		9.6		6.5		6.3		166.7
2010 secured railcar equipment notes	3.5		14.0		15.3		15.0		13.7		268.9
TILC warehouse facility - facility termination payments	—		—		50.7		101.3		—		—
TRL 2012 secured railcar equipment notes - RIV 2013	6.3		25.0		23.5		22.6		23.1		405.1
TRIP Master Funding secured railcar equipment notes	10.3		40.1		35.7		29.3		20.4		631.3
Total principal payments	$	34.7	$	135.3	$	180.8	$	546.5	$	91.6	$	2,109.8