Debt (Tables)

6 Months Ended

Jun. 30, 2022

Debt Disclosure [Abstract]

Components of debt

The carrying amounts of our debt are as follows:

	June 30, 2022		December 31, 2021
	(in millions)
Corporate – Recourse:
Revolving credit facility	$	120.0	$	—
Senior notes, net of unamortized discount of $0.1 and $0.1	399.9		399.9
	519.9		399.9
Less: unamortized debt issuance costs	(1.0)		(1.2)
Total recourse debt	518.9		398.7
Leasing – Non-recourse:
Wholly-owned subsidiaries:
Secured railcar equipment notes, net of unamortized discount of $0.4 and $0.5	2,443.9		2,257.5
2017 promissory notes, net of unamortized discount of $6.7 and $7.8	737.1		760.2
TILC warehouse facility	656.3		561.8
	3,837.3		3,579.5
Less: unamortized debt issuance costs	(23.7)		(23.7)
	3,813.6		3,555.8
Partially-owned subsidiaries:
Secured railcar equipment notes, net of unamortized discount of $0.4 and $0.3	1,217.7		903.5
TRIP Railcar Co. term loan	—		323.7
	1,217.7		1,227.2
Less: unamortized debt issuance costs	(11.1)		(11.1)
	1,206.6		1,216.1
Total non–recourse debt	5,020.2		4,771.9
Total debt	$	5,539.1	$	5,170.6

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

	June 30, 2022		December 31, 2021
	(in millions)
Level 1	$	1,513.4	$	1,645.7
Level 2	389.9		420.8
Level 3	3,439.9		3,215.4
	$	5,343.2	$	5,281.9