Debt (Tables)

9 Months Ended

Sep. 30, 2015

The following table summarizes the components of debt as of September 30, 2015 and December 31, 2014:



	September 30, 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 $47.9 and $59.6	401.6		389.9
Other	0.5		0.7
	801.7		790.2
Leasing – Recourse:
Capital lease obligations	36.6		39.1
Total recourse debt	838.3		829.3

Leasing – Non-recourse:
Wholly-owned subsidiaries:
2006 secured railcar equipment notes	209.0		223.0
Promissory notes	—		363.9
2009 secured railcar equipment notes	181.4		188.8
2010 secured railcar equipment notes	300.0		311.5
TILC warehouse facility	291.7		120.6
	982.1		1,207.8
Partially-owned subsidiaries:
TRL 2012 secured railcar equipment notes (RIV 2013)	454.5		472.2
TRIP Master Funding secured railcar equipment notes	1,009.6		1,043.7
	1,464.1		1,515.9
Total non–recourse debt	2,446.2		2,723.7
Total debt	$	3,284.5	$	3,553.0

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, 2015 and 2014 is as follows:



	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
	(in millions)
Coupon rate interest	$	4.4	$	4.4	$	13.1	$	13.1
Amortized debt discount	4.0		3.7		11.7		10.8
	$	8.4	$	8.1	$	24.8	$	23.9

Remaining principal payments under existing debt agreements

The remaining principal payments under existing debt agreements as of September 30, 2015, after considering the extension of the TILC Warehouse facility in April 2015, are as follows:



	Remaining three months of 2015		2016		2017		2018		2019		Thereafter
	(in millions)
Recourse:
Corporate	$	—	$	0.2	$	0.3	$	—	$	—	$	849.5
Leasing – capital lease obligations (Note 6)	0.8		3.5		3.7		28.6		—		—
Non-recourse – leasing (Note 6):
2006 secured railcar equipment notes	4.9		21.8		23.9		25.3		28.0		105.1
2009 secured railcar equipment notes	2.2		6.5		6.3		6.4		11.2		148.8
2010 secured railcar equipment notes	3.8		14.9		13.7		10.0		7.6		250.0
TILC warehouse facility	2.4		9.8		9.8		9.8		2.4		—
TRL 2012 secured railcar equipment notes (RIV 2013)	5.4		22.3		22.9		23.1		22.2		358.6
TRIP Master Funding secured railcar equipment notes	11.8		39.8		29.2		41.8		50.1		836.9
Facility termination payments - TILC warehouse facility	—		—		—		—		257.5		—
Total principal payments	$	31.3	$	118.8	$	109.8	$	145.0	$	379.0	$	2,548.9