Debt (Tables)

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Components of debt

The carrying amounts of our debt are as follows:

	September 30, 2022		December 31, 2021
	(in millions)
Corporate – Recourse:
Revolving credit facility	$	60.0	$	—
Senior notes, net of unamortized discount of $0.1 and $0.1	399.9		399.9
	459.9		399.9
Less: unamortized debt issuance costs	(0.9)		(1.2)
Total recourse debt	459.0		398.7
Leasing – Non-recourse:
Wholly-owned subsidiaries:
Secured railcar equipment notes, net of unamortized discount of $0.4 and $0.5	2,412.3		2,257.5
2017 promissory notes, net of unamortized discount of $6.2 and $7.8	726.6		760.2
TILC warehouse facility	728.2		561.8
	3,867.1		3,579.5
Less: unamortized debt issuance costs	(22.6)		(23.7)
	3,844.5		3,555.8
Partially-owned subsidiaries:
Secured railcar equipment notes, net of unamortized discount of $0.4 and $0.3	1,200.7		903.5
TRIP Railcar Co. term loan	—		323.7
	1,200.7		1,227.2
Less: unamortized debt issuance costs	(10.5)		(11.1)
	1,190.2		1,216.1
Total non–recourse debt	5,034.7		4,771.9
Total debt	$	5,493.7	$	5,170.6

The estimated fair values of our debt are as follows:

	September 30, 2022		December 31, 2021
	(in millions)
Level 1	$	1,514.8	$	1,645.7
Level 2	381.5		420.8
Level 3	3,284.8		3,215.4
	$	5,181.1	$	5,281.9