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Derivative Instruments (Tables)
 3 Months Ended
Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Interest rate hedges
Interest rate hedges
 
 
 
 
 
Included in accompanying balance sheet
at March 31, 2016
 
Notional
Amount
 
Interest
Rate(1)
 
Liability
 
AOCL –
loss/
(income)
 
Noncontrolling
Interest
 
(in millions, except %)
Expired hedges:
 
 
 
 
 
 
 
 
 
2006 secured railcar equipment notes
$
200.0

 
4.87
%
 
$
—

 
$
(0.9
)
 
$
—

TRIP Holdings warehouse loan
$
788.5

 
3.60
%
 
$
—

 
$
7.4

 
$
10.0

Open hedge:
 
 
 
 
 
 
 
 
 
TRIP Master Funding secured railcar equipment notes
$
44.4

 
2.62
%
 
$
2.0

 
$
0.8

 
$
1.1

(1) 
Weighted average fixed interest rate
Effect on statements of operations
 
Effect on interest expense - increase/(decrease)
 
Three Months Ended
March 31,
 
Expected effect during next twelve months(1)
 
2016
 
2015
 
 
(in millions)
Expired hedges:
 
 
 
 
 
2006 secured railcar equipment notes
$
(0.1
)
 
$
(0.1
)
 
$
(0.2
)
Promissory notes
$
—

 
$
0.7

 
$
—

TRIP Holdings warehouse loan
$
1.2

 
$
1.3

 
$
4.7

Open hedges:
 
 
 
 
 
TRIP Master Funding secured railcar equipment notes
$
0.3

 
$
0.3

 
$
0.8

Promissory notes
$
—

 
$
3.7

 
$
—

(1) Based on the fair value of open hedges as of March 31, 2016