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Derivative Instruments and Fair Value Accounting Derivatives (Policies)
 3 Months Ended
Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments and Hedging Activities Disclosure [Text Block] See Note 7 for a description of our debt instruments.
Interest Rate Hedges
 
 
 
 
 
Included in accompanying balance sheet
at March 31, 2020
 
Notional Amount
 
Interest Rate (1)
 
Asset/(Liability)
 
AOCL – loss/(income)
 
Noncontrolling Interest
 
(in millions, except %)
Expired hedges:
 
 
 
 
 
 
 
 
 
2018 secured railcar equipment notes
$
249.3

 
4.41
%
 
$
—

 
$
1.0

 
$
—

TRIP Holdings warehouse loan
$
788.5

 
3.60
%
 
$
—

 
$
2.0

 
$
2.7

TRIP Master Funding secured railcar equipment notes
$
34.8

 
2.62
%
 
$
—

 
$
0.1

 
$
0.1

2017 promissory notes - interest rate cap
$
169.3

 
3.00
%
 
$
—

 
$
(0.6
)
 
$
—

Open hedge:
 
 
 
 
 
 
 
 
 
2017 promissory notes - interest rate swap
$
563.6

 
2.68
%
 
$
(51.5
)
 
$
51.1

 
$
—

(1) Weighted average fixed interest rate, except for the interest rate cap on the 2017 promissory notes.
 
Effect on interest expense-increase/(decrease)
 
Three Months Ended
March 31,
 
Expected effect during next twelve months(1)
 
2020
 
2019
 
 
(in millions)
Expired hedges:
 
 
 
 
 
2006 secured railcar equipment notes (2)
$
(0.1
)
 
$
—

 
$
—

2018 secured railcar equipment notes
$
0.1

 
$
0.1

 
$
0.2

TRIP Holdings warehouse loan
$
0.5

 
$
0.5

 
$
2.0

TRIP Master Funding secured railcar equipment notes
$
0.1

 
$
0.1

 
$
0.1

2017 promissory notes - interest rate cap
$
—

 
$
—

 
$
(0.1
)
Open hedge:
 
 
 
 
 
2017 promissory notes - interest rate swap
$
1.7

 
$
0.6

 
$
6.8

(1) Based on the fair value of open hedges as of March 31, 2020.
(2) Upon settlement of the debt in March 2020, the remaining balance of $0.1 million in AOCL was recognized through interest expense. See Note 7 for additional information on the debt redemption.
Other Derivatives
 
 
 
Included in accompanying balance sheet at March 31, 2020
 
Effect on cost of revenues –increase/(decrease)
 
Notional
Amount
 
Asset/(Liability)
 
AOCL –
loss/(income)
 
Three Months Ended
March 31, 2020
 
Expected effect during next twelve months(1)
 
(in millions)
Foreign currency hedge
$
35.0

 
$
(6.7
)
 
$
7.6

 
$
(0.8
)
 
$
7.6

(1) Based on the fair value of open hedges as of March 31, 2020.
Our exposure related to foreign currency and commodity transactions is currently hedged for up to a maximum of twelve months. The effect of commodity hedge transactions was immaterial to the Consolidated Financial Statements for all periods presented herein.