Note 8. Debt (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of Debt [Table Text Block]

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

	December 31, 2021				December 31, 2020
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
	(in millions)
Corporate – Recourse:
Revolving credit facility	$	—	$	—	$	50.0	$	50.0
Senior notes, net of unamortized discount of $0.1 and $0.2	399.9		420.8		399.8		420.3
	399.9		420.8		449.8		470.3
Less: unamortized debt issuance costs	(1.2)				(1.6)
Total recourse debt	398.7				448.2
Leasing – Non-recourse:
Wholly-owned subsidiaries:
2009 secured railcar equipment notes	128.5		144.9		142.3		170.0
2010 secured railcar equipment notes	220.6		234.6		235.9		248.5
2017 promissory notes, net of unamortized discount of $7.8 and $10.1	760.2		760.2		802.7		802.7
2018 secured railcar equipment notes, net of unamortized discount of $0.1 and $0.2	416.5		423.3		434.7		449.3
2019 secured railcar equipment notes, net of unamortized discount of $0.3 and $0.3	822.8		847.3		860.5		890.8
2020 secured railcar equipments notes, net of unamortized discount of $0.1 and $0.1	348.8		349.9		369.0		370.2
2021 secured railcar equipment notes, net of unamortized discount of $— and $—	320.3		319.6		—		—
TILC warehouse facility	561.8		561.8		519.4		519.4
	3,579.5		3,641.6		3,364.5		3,450.9
Less: unamortized debt issuance costs	(23.7)				(24.0)
	3,555.8				3,340.5
Partially-owned subsidiaries:
TRP-2021 secured railcar equipment notes, net of unamortized discount of $0.1 and $—	352.2		347.7		352.5		373.9
Triumph Rail secured railcar equipment notes, net of unamortized discount of $0.2 and $—	551.3		548.1		885.0		959.7
TRIP Railcar Co. term loan	323.7		323.7		—		—
	1,227.2		1,219.5		1,237.5		1,333.6
Less: unamortized debt issuance costs	(11.1)				(9.2)
	1,216.1				1,228.3
Total non–recourse debt	4,771.9				4,568.8
Total debt	$	5,170.6	$	5,281.9	$	5,017.0	$	5,254.8

Schedule of Maturities of Long-term Debt [Table Text Block]

The remaining principal payments under existing debt agreements as of December 31, 2021 based on the anticipated repayment dates are as follows:

	2022		2023		2024		2025		2026		Thereafter		Total
	(in millions)
Recourse:
Corporate	$	—	$	—	$	400.0	$	—	$	—	$	—	$	400.0
Non-recourse – leasing (Note 6):
2009 secured railcar equipment notes	15.1		11.7		14.5		19.8		18.5		48.9		128.5
2010 secured railcar equipment notes	28.5		22.3		18.4		20.6		25.7		105.1		220.6
2017 promissory notes	44.4		44.4		44.4		634.8		—		—		768.0
2018 secured railcar equipment notes	19.0		19.0		19.0		14.8		14.5		330.3		416.6
2019 secured railcar equipment notes	36.8		34.9		36.6		35.2		313.3		366.3		823.1
2020 secured railcar equipment notes	18.5		18.3		14.3		11.3		14.1		272.4		348.9
2021 secured railcar equipment notes	12.6		12.2		13.3		12.6		14.0		255.6		320.3
TILC warehouse facility	19.4		19.4		19.4		3.3		—		—		61.5
Facility termination payments – TILC warehouse facility	—		—		—		500.3		—		—		500.3
TRP-2021 secured railcar equipment notes	5.3		10.9		15.6		15.8		17.3		287.4		352.3
Triumph Rail secured railcar equipment notes	19.2		16.5		33.2		30.0		24.0		428.6		551.5
TRIP Railcar Co. term loan	12.6		311.1		—		—		—		—		323.7
Total principal payments	$	231.4	$	520.7	$	628.7	$	1,298.5	$	441.4	$	2,094.6	$	5,215.3