Derivative Instruments and Fair Value Accounting Derivatives (Policies)

3 Months Ended

Mar. 31, 2021

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, 2021
							AOCL – loss/(income)
	Notional Amount		Interest Rate (1)		Asset/(Liability)		Controlling Interest		Noncontrolling Interest
	(in millions, except %)
Expired hedges:
2018 secured railcar equipment notes	$	249.3	4.41	%	$	—	$	0.8	$	—
TRIP Holdings warehouse loan	$	788.5	3.60	%	$	—	$	1.1	$	1.5
TRIP Master Funding secured railcar equipment notes	$	34.8	2.62	%	$	—	$	—	$	0.1
2017 promissory notes - interest rate cap	$	169.3	3.00	%	$	—	$	(0.5)	$	—
Open hedge:
2017 promissory notes - interest rate swap	$	481.3	2.66	%	$	(33.4)	$	32.9	$	—

(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
	2021		2020
	(in millions)
Expired hedges:
2006 secured railcar equipment notes	$	—	$	(0.1)	$	—
2018 secured railcar equipment notes	$	0.1	$	0.1	$	0.2
TRIP Holdings warehouse loan	$	0.5	$	0.5	$	1.7
TRIP Master Funding secured railcar equipment notes	$	—	$	0.1	$	0.1
2017 promissory notes - interest rate cap	$	—	$	—	$	(0.1)
Open hedge (1):
2017 promissory notes - interest rate swap	$	3.1	$	1.7	$	12.4

(1) Based on the fair value of open hedges as of March 31, 2021.

Other Derivatives

			Included in  accompanying balance sheet at March 31, 2021				Effect on cost of revenues – increase/(decrease)
	Notional Amount		Asset/(Liability)		AOCL – loss/(income)		Three Months Ended March 31,				Expected effect during next twelve months (1)
							2021		2020
	(in millions)
Foreign currency hedge	$	40.0	$	1.6	$	(3.1)	$	(3.7)	$	(0.8)	$	(3.1)

(1) Based on the fair value of open hedges as of March 31, 2021.

Our exposure related to foreign currency 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.