Debt (Tables)

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Components of debt

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

	March 31, 2022		December 31, 2021
	(in millions)
Corporate – Recourse:
Revolving credit facility	$	50.0	$	—
Senior notes, net of unamortized discount of $0.1 and $0.1	399.9		399.9
	449.9		399.9
Less: unamortized debt issuance costs	(1.1)		(1.2)
Total recourse debt	448.8		398.7
Leasing – Non-recourse:
Wholly-owned subsidiaries:
Secured railcar equipment notes, net of unamortized discount of $0.5 and $0.5	2,228.1		2,257.5
2017 promissory notes, net of unamortized discount of $7.3 and $7.8	747.7		760.2
TILC warehouse facility	617.4		561.8
	3,593.2		3,579.5
Less: unamortized debt issuance costs	(22.3)		(23.7)
	3,570.9		3,555.8
Partially-owned subsidiaries:
Secured railcar equipment notes, net of unamortized discount of $0.3 and $0.3	897.3		903.5
TRIP Railcar Co. term loan	321.0		323.7
	1,218.3		1,227.2
Less: unamortized debt issuance costs	(10.5)		(11.1)
	1,207.8		1,216.1
Total non–recourse debt	4,778.7		4,771.9
Total debt	$	5,227.5	$	5,170.6

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

	March 31, 2022		December 31, 2021
	(in millions)
Level 1	$	1,736.1	$	1,645.7
Level 2	406.5		420.8
Level 3	3,046.3		3,215.4
	$	5,188.9	$	5,281.9