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Debt (Tables)
 12 Months Ended
Dec. 31, 2017
Debt Disclosure [Abstract]  
Components of debt
The following table summarizes the components of debt as of December 31, 2017 and 2016:
 
December 31,
2017
 
December 31,
2016
 
(in millions)
Corporate – Recourse:
 
 
 
Revolving credit facility
$
—

 
$
—

Senior notes, net of unamortized discount of $0.3 and $0.4
399.7

 
399.6

Convertible subordinated notes, net of unamortized discount of $8.2 and $26.7
441.2

 
422.7

Other
0.5

 
—

 
841.4

 
822.3

Less: unamortized debt issuance costs
(2.9
)
 
(3.7
)
 
838.5

 
818.6

Leasing – Recourse:
 
 
 
Capital lease obligations, net of unamortized debt issuance costs of $- and $0.1
28.3

 
32.0

Total recourse debt
866.8

 
850.6

 
 
 
 
Leasing – Non-recourse:
 
 
 
Wholly-owned subsidiaries:
 
 
 
2006 secured railcar equipment notes
158.5

 
194.2

2009 secured railcar equipment notes
166.2

 
172.5

2010 secured railcar equipment notes
266.9

 
280.6

2017 promissory notes
293.6

 
—

TILC warehouse facility
150.7

 
204.1

 
1,035.9

 
851.4

Less: unamortized debt issuance costs
(11.1
)
 
(11.4
)
 
1,024.8

 
840.0

Partially-owned subsidiaries:
 
 
 
TRL 2012 secured railcar equipment notes
402.8

 
425.5

TRIP Master Funding secured railcar equipment notes
962.5

 
955.5

 
1,365.3

 
1,381.0

Less: unamortized debt issuance costs
(14.5
)
 
(15.0
)
 
1,350.8

 
1,366.0

Total non–recourse debt
2,375.6

 
2,206.0

Total debt
$
3,242.4

 
$
3,056.6
Total interest expense recognized on the Convertible Subordinated Notes
Total interest expense recognized on the Convertible Subordinated Notes for the years ended December 31, 2017, 2016, and 2015, is as follows:
 
Year Ended December 31,
 
2017
 
2016
 
2015
 
(in millions)
Coupon rate interest
$
17.4

 
$
17.4

 
$
17.4

Amortized debt discount
18.6

 
17.1

 
15.7

 
$
36.0

 
$
34.5

 
$
33.1
Remaining principal payments under existing debt agreements
The remaining principal payments under existing debt agreements as of December 31, 2017 are as follows:
 
2018
 
2019
 
2020
 
2021
 
2022
 
Thereafter
 
(in millions)
Recourse:
 
Corporate (1)
$
0.1

 
$
0.1

 
$
0.2

 
$
0.1

 
$
—

 
$
849.4

Leasing – capital lease obligations (Note 6)
28.3

 
—

 
—

 
—

 
—

 
—

Non-recourse – leasing (Note 6):
 
 
 
 
 
 
 
 
 
 
 
2006 secured railcar equipment notes
25.5

 
28.0

 
29.8

 
29.2

 
29.9

 
16.1

2009 secured railcar equipment notes
6.4

 
11.2

 
6.6

 
13.4

 
14.1

 
114.5

2010 secured railcar equipment notes
10.0

 
7.6

 
14.2

 
20.1

 
21.0

 
194.0

2017 Promissory notes
15.1

 
15.1

 
15.1

 
15.1

 
15.1

 
218.1

TILC warehouse facility
6.4

 
1.6

 
—

 
—

 
—

 
—

Facility termination payments - TILC warehouse facility
—

 
142.7

 
—

 
—

 
—

 
—

TRL 2012 secured railcar equipment notes
22.9

 
21.9

 
19.3

 
19.9

 
19.6

 
299.2

TRIP Master Funding secured railcar equipment notes
20.0

 
23.8

 
32.9

 
40.4

 
40.6

 
804.8

Total principal payments
$
134.7

 
$
252.0

 
$
118.1

 
$
138.2

 
$
140.3

 
$
2,496.1


(1) Holders of the Convertible Subordinated Notes may require us to purchase all or a portion of their notes on June 1, 2018. On or after that date, we may redeem all or part of the Convertible Subordinated Notes.