Fair Value Accounting (Tables)

12 Months Ended

Dec. 31, 2017

Fair Value Disclosures [Abstract]

Assets and liabilities measured at fair value on recurring basis

Assets and liabilities measured at fair value on a recurring basis are summarized below:

	Fair Value Measurement as of December 31, 2017
	Level 1		Level 2		Level 3		Total
	(in millions)
Assets:
Cash equivalents	$	113.1	$	—	$	—	$	113.1
Restricted cash	195.2		—		—		195.2
Equity instruments(1)	—		1.3		—		1.3
Interest rate hedge(1)	—		1.6		—		1.6
Total assets	$	308.3	$	2.9	$	—	$	311.2
Liabilities:
Interest rate hedge:(2)
Partially-owned subsidiaries	$	—	$	—	$	—	$	—
Total liabilities	$	—	$	—	$	—	$	—
	Fair Value Measurement as of December 31, 2016
	Level 1		Level 2		Level 3		Total
	(in millions)
Assets:
Cash equivalents	$	188.7	$	—	$	—	$	188.7
Restricted cash	178.2		—		—		178.2
Equity Instruments(1)	—		3.1		—		3.1
Fuel derivative instruments(1)	—		0.3		—		0.3
Total assets	$	366.9	$	3.4	$	—	$	370.3
Liabilities:
Interest rate hedge:(2)
Partially-owned subsidiaries	$	—	$	0.9	$	—	$	0.9
Total liabilities	$	—	$	0.9	$	—	$	0.9

⁽¹⁾ Included in other assets on the consolidated balance sheet.

⁽²⁾ Included in accrued liabilities on the consolidated balance sheet.

Carrying amounts and estimated fair values of long-term debt

The carrying amounts and estimated fair values of our long-term debt are as follows:

	December 31, 2017					December 31, 2016
	Carrying Value			Estimated Fair Value		Carrying Value			Estimated Fair Value
	(in millions)
Recourse:
Senior notes	$	399.7		$	400.3	$	399.6		$	386.3
Convertible subordinated notes	449.4			715.0		449.4			575.5
Less: unamortized discount	(8.2		)			(26.7		)
	441.2					422.7
Capital lease obligations	28.3			28.3		32.1			32.1
Other	0.5			0.5		—			—
	869.7			1,144.1		854.4			993.9
Less: unamortized debt issuance costs	(2.9		)			(3.8		)
	866.8					850.6
Non-recourse:
2006 secured railcar equipment notes	158.5			165.7		194.2			201.5
2009 secured railcar equipment notes	166.2			169.6		172.5			189.9
2010 secured railcar equipment notes	266.9			281.9		280.6			284.3
2017 promissory notes	293.6			293.6		—			—
TILC warehouse facility	150.7			150.7		204.1			204.1
TRL 2012 secured railcar equipment notes	402.8			390.4		425.5			395.6
TRIP Master Funding secured railcar equipment notes	962.5			1,007.6		955.5			960.6
	2,401.2			2,459.5		2,232.4			2,236.0
Less: unamortized debt issuance costs	(25.6		)			(26.4		)
	2,375.6					2,206.0
Total	$	3,242.4		$	3,603.6	$	3,056.6		$	3,229.9