Debt (Tables)

6 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

Components of debt

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

	June 30, 2021		December 31, 2020
	(in millions)
Corporate – Recourse:
Revolving credit facility	$	50.0	$	50.0
Senior notes, net of unamortized discount of $0.2 and $0.2	399.8		399.8
	449.8		449.8
Less: unamortized debt issuance costs	(1.4)		(1.6)
Total recourse debt	448.4		448.2
Leasing – Non-recourse:
Wholly-owned subsidiaries:
Secured railcar equipment notes, net of unamortized discount of $0.5 and $0.6	2,318.1		2,042.4
2017 promissory notes, net of unamortized discount of $9.0 and $10.1	781.4		802.7
TILC warehouse facility	534.2		519.4
	3,633.7		3,364.5
Less: unamortized debt issuance costs	(26.4)		(24.0)
	3,607.3		3,340.5
Partially-owned subsidiaries:
Secured railcar equipment notes, net of unamortized discount of $0.3 and $—	915.1		1,237.5
TRIP Railcar Co. term loan	329.6		—
Less: unamortized debt issuance costs	(12.2)		(9.2)
	1,232.5		1,228.3
Total non–recourse debt	4,839.8		4,568.8
Total debt	$	5,288.2	$	5,017.0

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

	June 30, 2021		December 31, 2020
	(in millions)
Level 1	$	1,695.2	$	1,372.1
Level 2	426.2		420.3
Level 3	3,313.7		3,462.4
	$	5,435.1	$	5,254.8