Debt (Tables)

3 Months Ended

Mar. 31, 2015

The following table summarizes the components of debt as of March 31, 2015 and December 31, 2014:



	March 31, 2015		December 31, 2014
	(in millions)
Corporate – Recourse:
Revolving credit facility	$	—	$	—
Senior notes, net of unamortized discount of $0.4 and $0.4	399.6		399.6
Convertible subordinated notes, net of unamortized discount of $55.8 and $59.6	393.7		389.9
Other	0.7		0.7
	794.0		790.2
Leasing – Recourse:
Capital lease obligations	38.3		39.1
Total recourse debt	832.3		829.3

Leasing – Non-recourse:
Wholly-owned subsidiaries:
2006 secured railcar equipment notes	218.6		223.0
Promissory notes	341.3		363.9
2009 secured railcar equipment notes	186.4		188.8
2010 secured railcar equipment notes	307.7		311.5
TILC warehouse facility	101.4		120.6
	1,155.4		1,207.8
Partially-owned subsidiaries:
TRL 2012 secured railcar equipment notes (RIV 2013)	466.1		472.2
TRIP Master Funding secured railcar equipment notes	1,032.1		1,043.7
	1,498.2		1,515.9
Total non–recourse debt	2,653.6		2,723.7
Total debt	$	3,485.9	$	3,553.0

Total interest expense recognized on the Convertible Subordinated Notes

Total interest expense recognized on the Convertible Subordinated Notes for the three months ended March 31, 2015 and 2014 is as follows:



	Three Months Ended March 31,
	2015		2014
	(in millions)
Coupon rate interest	$	4.4	$	4.4
Amortized debt discount	3.8		3.5
	$	8.2	$	7.9

Remaining principal payments under existing debt agreements

The remaining principal payments under existing debt agreements as of March 31, 2015, after considering the extension of the TILC Warehouse facility in April 2015, are as follows:



	Remaining nine months of 2015		2016		2017		2018		2019		Thereafter
	(in millions)
Recourse:
Corporate	$	0.2	$	0.2	$	0.3	$	—	$	—	$	849.5
Leasing – capital lease obligations (Note 6)	2.5		3.5		3.7		28.6		—		—
Non-recourse – leasing (Note 6):
2006 secured railcar equipment notes	14.1		21.8		24.0		25.3		28.0		105.4
Promissory notes	18.9		322.4		—		—		—		—
2009 secured railcar equipment notes	7.2		6.5		6.3		6.5		11.2		148.7
2010 secured railcar equipment notes	11.5		14.9		13.7		10.0		7.6		250.0
TILC warehouse facility	2.8		3.7		3.7		3.7		0.7		—
TRL 2012 secured railcar equipment notes (RIV 2013)	17.1		22.3		22.9		23.1		22.2		358.5
TRIP Master Funding secured railcar equipment notes	34.3		39.8		29.2		41.8		50.1		836.9
Facility termination payments - TILC warehouse facility	—		—		—		—		86.8		—
Total principal payments	$	108.6	$	435.1	$	103.8	$	139.0	$	206.6	$	2,549.0