Debt (Tables)

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Components of debt

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

	June 30, 2020				December 31, 2019
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
	(in millions)
Corporate – Recourse:
Revolving credit facility	$	130.0	$	130.0	$	125.0	$	125.0
Senior notes, net of unamortized discount of $0.2 and $0.2	399.8		403.6		399.8		411.7
	529.8		533.6		524.8		536.7
Less: unamortized debt issuance costs	(1.8)				(2.0)
Total recourse debt	528.0				522.8
Leasing – Non-recourse:
Wholly-owned subsidiaries:
2006 secured railcar equipment notes	—		—		109.3		114.0
2009 secured railcar equipment notes	144.9		153.5		147.8		168.7
2010 secured railcar equipment notes	243.8		260.9		248.5		264.3
2017 promissory notes	609.6		609.6		627.1		627.1
2018 secured railcar equipment notes, net of unamortized discount of $0.2 and $0.2	442.2		463.6		452.1		466.2
TRIHC 2018 secured railcar equipment notes, net of unamortized discount of $0.8 and $1.4	260.6		255.4		265.4		270.9
2019 secured railcar equipment notes, net of unamortized discount of $0.4 and $0.4	883.0		881.1		901.0		904.9
TILC warehouse facility	482.5		482.5		353.4		353.4
	3,066.6		3,106.6		3,104.6		3,169.5
Less: unamortized debt issuance costs	(20.9)				(23.9)
	3,045.7				3,080.7
Partially-owned subsidiaries:
TRL 2012 secured railcar equipment notes	360.8		353.2		371.4		374.4
TRIP Master Funding secured railcar equipment notes	900.9		892.5		917.9		984.0
	1,261.7		1,245.7		1,289.3		1,358.4
Less: unamortized debt issuance costs	(10.0)				(10.9)
	1,251.7				1,278.4
Total non–recourse debt	4,297.4				4,359.1
Total debt	$	4,825.4	$	4,885.9	$	4,881.9	$	5,064.6

Remaining principal payments under existing debt agreements

The remaining principal payments under existing debt agreements as of June 30, 2020 are as follows:

	Remaining six months of 2020		2021		2022		2023		2024		Thereafter		Total
	(in millions)
Recourse:
Corporate	$	—	$	—	$	—	$	130.0	$	400.0	$	—	$	530.0
Non-recourse – leasing (Note 5):
2009 secured railcar equipment notes	3.7		13.4		14.0		11.7		14.5		87.6		144.9
2010 secured railcar equipment notes	9.9		20.0		20.9		22.4		18.5		152.1		243.8
2017 promissory notes	16.6		33.1		33.1		33.2		33.2		460.4		609.6
2018 secured railcar equipment notes	10.0		20.0		20.0		20.0		20.0		352.4		442.4
TRIHC 2018 secured railcar equipment notes	5.2		11.8		9.3		11.7		14.7		208.7		261.4
2019 secured railcar equipment notes	18.2		38.0		37.0		35.1		36.8		718.3		883.4
TILC warehouse facility	7.6		15.2		2.6		—		—		—		25.4
Facility termination payments – TILC warehouse facility	—		—		457.1		—		—		—		457.1
TRL 2012 secured railcar equipment notes	9.6		19.9		19.6		22.0		28.9		260.8		360.8
TRIP Master Funding secured railcar equipment notes	15.9		40.5		41.8		37.0		191.6		574.1		900.9
Total principal payments	$	96.7	$	211.9	$	655.4	$	323.1	$	758.2	$	2,814.4	$	4,859.7