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Debt (Tables)
 3 Months Ended
Mar. 31, 2016
Debt Disclosure [Abstract]  
Components of debt
The following table summarizes the components of debt as of March 31, 2016 and December 31, 2015:
 
March 31,
2016
 
December 31,
2015
 
(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 $39.6 and $43.8
409.8

 
405.6

Other
0.5

 
0.5

 
809.9

 
805.7

Less: unamortized debt issuance costs
(4.4
)
 
(4.7
)
 
805.5

 
801.0

Leasing – Recourse:
 
 
 
Capital lease obligations, net of unamortized debt issuances costs of $0.1 and $0.1
34.9

 
35.7

Total recourse debt
840.4

 
836.7

 
 
 
 
Leasing – Non-recourse:
 
 
 
Wholly-owned subsidiaries:
 
 
 
2006 secured railcar equipment notes
202.8

 
204.1

2009 secured railcar equipment notes
177.4

 
179.2

2010 secured railcar equipment notes
292.1

 
296.2

TILC warehouse facility
259.3

 
264.3

 
931.6

 
943.8

Less: unamortized debt issuance costs
(14.1
)
 
(15.1
)
 
917.5

 
928.7

Partially-owned subsidiaries:
 
 
 
TRL 2012 secured railcar equipment notes (RIV 2013)
443.6

 
449.1

TRIP Master Funding secured railcar equipment notes (TRIP Holdings)
985.9

 
997.8

 
1,429.5

 
1,446.9

Less: unamortized debt issuance costs
(16.4
)
 
(16.9
)
 
1,413.1

 
1,430.0

Total non–recourse debt
2,330.6

 
2,358.7

Total debt
$
3,171.0

 
$
3,195.4
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, 2016 and 2015 is as follows:
 
Three Months Ended
March 31,
 
2016
 
2015
 
(in millions)
Coupon rate interest
$
4.4

 
$
4.4

Amortized debt discount
4.2

 
3.8

 
$
8.6

 
$
8.2
Remaining principal payments under existing debt agreements
The remaining principal payments under existing debt agreements as of March 31, 2016 are as follows:
 
Remaining nine months of 2016
 
2017
 
2018
 
2019
 
2020
 
Thereafter
 
(in millions)
Recourse:
 
Corporate
$
0.2

 
$
0.3

 
$
—

 
$
—

 
$
—

 
$
849.4

Leasing – capital lease obligations (Note 6)
2.6

 
3.7

 
28.7

 
—

 
—

 
—

Non-recourse – leasing (Note 6):
 
 
 
 
 
 
 
 
 
 
 
2006 secured railcar equipment notes
20.6

 
23.9

 
25.3

 
28.0

 
29.8

 
75.2

2009 secured railcar equipment notes
4.9

 
6.3

 
6.4

 
11.2

 
6.6

 
142.0

2010 secured railcar equipment notes
11.2

 
13.7

 
10.0

 
7.6

 
14.2

 
235.4

TILC warehouse facility
6.6

 
8.8

 
8.8

 
2.2

 
—

 
—

TRL 2012 secured railcar equipment notes
(RIV 2013)
16.9

 
22.9

 
23.1

 
22.2

 
19.5

 
339.0

TRIP Master Funding secured railcar equipment notes (TRIP Holdings)
27.9

 
29.2

 
41.8

 
50.1

 
49.6

 
787.3

Facility termination payments - TILC warehouse facility
—

 
—

 
—

 
232.9

 
—

 
—

Total principal payments
$
90.9

 
$
108.8

 
$
144.1

 
$
354.2

 
$
119.7

 
$
2,428.3