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Debt (Tables)
 3 Months Ended
Mar. 31, 2018
Debt Disclosure [Abstract]  
Components of debt
The following table summarizes the components of debt as of March 31, 2018 and December 31, 2017:
 
March 31, 2018
 
December 31,
2017
 
(in millions)
Corporate – Recourse:
 
 
 
Revolving credit facility
$
—

 
$
—

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

 
399.7

Convertible subordinated notes, net of unamortized discount of $3.3 and $8.2
446.1

 
441.2

Other
0.5

 
0.5

 
846.3

 
841.4

Less: unamortized debt issuance costs
(2.7
)
 
(2.9
)
 
843.6

 
838.5

Leasing – Recourse:
 
 
 
Capital lease obligations
27.4

 
28.3

Total recourse debt
871.0

 
866.8

 
 
 
 
Leasing – Non-recourse:
 
 
 
Wholly-owned subsidiaries:
 
 
 
2006 secured railcar equipment notes
152.8

 
158.5

2009 secured railcar equipment notes
164.8

 
166.2

2010 secured railcar equipment notes
264.3

 
266.9

2017 promissory notes
289.8

 
293.6

TILC warehouse facility
154.5

 
150.7

 
1,026.2

 
1,035.9

Less: unamortized debt issuance costs
(13.9
)
 
(11.1
)
 
1,012.3

 
1,024.8

Partially-owned subsidiaries:
 
 
 
TRL 2012 secured railcar equipment notes
397.1

 
402.8

TRIP Master Funding secured railcar equipment notes
957.0

 
962.5

 
1,354.1

 
1,365.3

Less: unamortized debt issuance costs
(14.0
)
 
(14.5
)
 
1,340.1

 
1,350.8

Total non–recourse debt
2,352.4

 
2,375.6

Total debt
$
3,223.4

 
$
3,242.4
Total interest expense recognized on the Convertible Subordinated Notes
Total interest expense recognized on the Notes for the three months ended March 31, 2018 and 2017 is as follows:
 
Three Months Ended
March 31,
 
2018
 
2017
 
(in millions)
Coupon rate interest
$
4.4

 
$
4.4

Amortized debt discount
4.9

 
4.5

 
$
9.3

 
$
8.9
Remaining principal payments under existing debt agreements
The remaining principal payments under existing debt agreements as of March 31, 2018, after considering the notice to redeem the Notes are as follows:
 
Remaining nine months of 2018
 
2019
 
2020
 
2021
 
2022
 
Thereafter
 
(in millions)
Recourse:
 
Corporate
$
449.5

 
$
0.1

 
$
0.2

 
$
0.1

 
$
—

 
$
400.0

Leasing – capital lease obligations (Note 6)
20.5

 
6.9

 
—

 
—

 
—

 
—

Non-recourse – leasing (Note 6):
 
 
 
 
 
 
 
 
 
 
 
2006 secured railcar equipment notes
19.8

 
28.0

 
29.8

 
29.2

 
29.9

 
16.1

2009 secured railcar equipment notes
5.0

 
11.2

 
6.6

 
13.4

 
14.1

 
114.5

2010 secured railcar equipment notes
7.4

 
7.6

 
14.2

 
20.1

 
21.0

 
194.0

2017 promissory notes
11.3

 
15.1

 
15.1

 
15.1

 
15.1

 
218.1

TILC warehouse facility
4.6

 
6.2

 
6.2

 
6.2

 
1.5

 
—

Facility termination payments - TILC warehouse facility
—

 
—

 
—

 
—

 
129.8

 
—

TRL 2012 secured railcar equipment notes
17.4

 
21.9

 
19.3

 
19.9

 
19.6

 
299.0

TRIP Master Funding secured railcar equipment notes
14.8

 
23.8

 
32.9

 
40.4

 
40.6

 
804.5

Total principal payments
$
550.3

 
$
120.8

 
$
124.3

 
$
144.4

 
$
271.6

 
$
2,046.2