Debt (Tables)

9 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

Components of debt

The carrying amounts of our long-term debt are as follows:

	September 30, 2020		December 31, 2019
	(in millions)
Corporate – Recourse:
Revolving credit facility	$	125.0	$	125.0
Senior notes, net of unamortized discount of $0.2 and $0.2	399.8		399.8
	524.8		524.8
Less: unamortized debt issuance costs	(1.7)		(2.0)
Total recourse debt	523.1		522.8
Leasing – Non-recourse:
Wholly-owned subsidiaries:
Secured railcar equipment notes, net of unamortized discount of $1.1 and $2.0	1,948.8		2,124.1
2017 promissory notes, net of unamortized discount of $10.7 and $—	813.7		627.1
TILC warehouse facility	430.5		353.4
	3,193.0		3,104.6
Less: unamortized debt issuance costs	(20.3)		(23.9)
	3,172.7		3,080.7
Partially-owned subsidiaries:
Secured railcar equipment notes	1,248.9		1,289.3
Less: unamortized debt issuance costs	(9.6)		(10.9)
	1,239.3		1,278.4
Total non–recourse debt	4,412.0		4,359.1
Total debt	$	4,935.1	$	4,881.9

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

	September 30, 2020		December 31, 2019
	(in millions)
Level 1	$	1,369.2	$	1,105.5
Level 2	407.4		411.7
Level 3	3,384.7		3,547.4
	$	5,161.3	$	5,064.6