Derivative Instruments and Fair Value Accounting Derivatives and Hedging (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Schedule of Interest Rate Derivatives [Table Text Block]

					Included in accompanying balance sheet at March 31, 2022
							AOCI – loss/(income)
	Notional Amount		Interest Rate (1)		Asset/(Liability)		Controlling Interest		Noncontrolling Interest
	($ in millions)
Expired hedges:
2018 secured railcar equipment notes	$	249.3	4.41	%	$	—	$	0.6	$	—
TRIP Holdings warehouse loan	$	788.5	3.60	%	$	—	$	0.4	$	0.5
2017 promissory notes – interest rate cap	$	169.3	3.00	%	$	—	$	(0.3)	$	—
Open hedge:
2017 promissory notes – interest rate swap	$	454.7	2.66	%	$	(0.7)	$	0.2	$	—

(1) Weighted average fixed interest rate, except for the interest rate cap on the 2017 promissory notes.

Derivative Instruments, Gain (Loss)

	Effect on interest expense – increase/(decrease)
	Three Months Ended March 31,				Expected effect during next twelve months
	2022		2021
	(in millions)
Expired hedges:
2018 secured railcar equipment notes	$	—	$	0.1	$	0.2
TRIP Holdings warehouse loan	$	0.4	$	0.5	$	0.9
2017 promissory notes – interest rate cap	$	—	$	—	$	(0.1)
Open hedge (1):
2017 promissory notes – interest rate swap	$	2.8	$	3.1	$	11.2

(1) Based on the fair value of open hedges as of March 31, 2022.

Foreign Currency Hedge

Our exposure related to foreign currency transactions is currently hedged for up to a maximum of twelve months. Information related to our foreign currency hedge is as follows:

		Included in  accompanying balance sheet at March 31, 2022				Effect on cost of revenues – increase/(decrease)
Notional Amount		Asset/ (Liability)		AOCI – loss/(income)		Three Months Ended March 31,				Expected effect during next twelve months (1)
						2022		2021
(in millions)
$	35.0	$	1.4	$	(1.5)	$	0.2	$	(3.7)	$	(1.5)

(1) Based on the fair value of open hedges as of March 31, 2022.

Level 1

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The assets measured as Level 1 in the fair value hierarchy are summarized below:

	Level 1
	March 31, 2022		December 31, 2021
	(in millions)
Assets:
Cash equivalents	$	80.5	$	11.4
Restricted cash	208.2		135.1
Total assets	$	288.7	$	146.5

Level 2

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The assets and liabilities measured as Level 2 in the fair value hierarchy are summarized below:

	Level 2
	March 31, 2022		December 31, 2021
	(in millions)
Assets:
Foreign currency hedge (1)	$	1.4	$	—
Total assets	$	1.4	$	—
Liabilities:
Interest rate hedge (2)	$	0.7	$	21.0
Foreign currency hedge (2)	—		0.1
Total liabilities	$	0.7	$	21.1

(1) Included in other assets in our Consolidated Balance Sheets.

(2) Included in accrued liabilities in our Consolidated Balance Sheets.