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Debt (Tables)
 12 Months Ended
Dec. 31, 2015
Debt Disclosure [Abstract]  
Components of debt
The following table summarizes the components of debt as of December 31, 2015 and 2014:
 
December 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 $43.8 and $59.6
405.6

 
389.9

Other
0.5

 
0.7

 
805.7

 
790.2

Less: unamortized debt issuance costs
(4.7
)
 
(5.5
)
 
801.0

 
784.7

Leasing – Recourse:
 
 
 
Capital lease obligations, net of unamortized debt issuance costs of $0.1 and $0.2
35.7

 
38.9

Total recourse debt
836.7

 
823.6

 
 
 
 
Leasing – Non-recourse:
 
 
 
Wholly-owned subsidiaries:
 
 
 
2006 secured railcar equipment notes
204.1

 
223.0

Promissory notes
—

 
363.9

2009 secured railcar equipment notes
179.2

 
188.8

2010 secured railcar equipment notes
296.2

 
311.5

TILC warehouse facility
264.3

 
120.6

 
943.8

 
1,207.8

Less: unamortized debt issuance costs
(15.1
)
 
(13.8
)
 
928.7

 
1,194.0

Partially-owned subsidiaries:
 
 
 
TRL 2012 secured railcar equipment notes (RIV 2013)
449.1

 
472.2

TRIP Master Funding secured railcar equipment notes (TRIP Holdings)
997.8

 
1,043.7

 
1,446.9

 
1,515.9

Less: unamortized debt issuance costs
(16.9
)
 
(19.0
)
 
1,430.0

 
1,496.9

Total non–recourse debt
2,358.7

 
2,690.9

Total debt
$
3,195.4

 
$
3,514.5
Total interest expense recognized on the Convertible Subordinated Notes
Total interest expense recognized on the Convertible Subordinated Notes for the years ended December 31, 2015, 2014, and 2013, is as follows:
 
Year Ended December 31,
 
2015
 
2014
 
2013
 
(in millions)
Coupon rate interest
$
17.4

 
$
17.4

 
$
17.4

Amortized debt discount
15.7

 
14.5

 
13.4

 
$
33.1

 
$
31.9

 
$
30.8
Remaining principal payments under existing debt agreements
The remaining principal payments under existing debt agreements as of December 31, 2015 are as follows:
 
2016
 
2017
 
2018
 
2019
 
2020
 
Thereafter
 
(in millions)
Recourse:
 
Corporate
$
0.2

 
$
0.3

 
$
—

 
$
—

 
$
—

 
$
849.4

Leasing – capital lease obligations (Note 6)
3.5

 
3.7

 
28.6

 
—

 
—

 
—

Non-recourse – leasing (Note 6):
 
 
 
 
 
 
 
 
 
 
 
2006 secured railcar equipment notes
21.8

 
23.9

 
25.3

 
28.0

 
29.8

 
75.3

2009 secured railcar equipment notes
6.5

 
6.3

 
6.4

 
11.2

 
6.7

 
142.1

2010 secured railcar equipment notes
14.9

 
13.7

 
10.0

 
7.6

 
14.2

 
235.8

TILC warehouse facility
8.9

 
8.9

 
8.9

 
2.2

 
—

 
—

TRL 2012 secured railcar equipment notes (RIV 2013)
22.3

 
22.9

 
23.1

 
22.2

 
19.5

 
339.1

TRIP Master Funding secured railcar equipment notes (TRIP Holdings)
39.8

 
29.2

 
41.8

 
50.1

 
49.6

 
787.3

Facility termination payments - TILC warehouse facility
—

 
—

 
—

 
235.4

 
—

 
—

Total principal payments
$
117.9

 
$
108.9

 
$
144.1

 
$
356.7

 
$
119.8

 
$
2,429.0