Debt (Tables)

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Components of debt

The carrying amounts of our debt are as follows:

	June 30, 2023		December 31, 2022
	(in millions)
Corporate – Recourse:
Revolving credit facility	$	—	$	225.0
Senior notes due 2024, net of unamortized discount of $0.1 and $0.1	399.9		399.9
Senior notes due 2028	400.0		—
	799.9		624.9
Less: unamortized debt issuance costs	(6.0)		(0.8)
Total recourse debt	793.9		624.1
Leasing – Non-recourse:
Wholly-owned subsidiaries:
Secured railcar equipment notes, net of unamortized discount of $0.3 and $0.3	2,310.8		2,384.0
2017 promissory notes, net of unamortized discount of $4.5 and $5.6	694.9		716.0
TRL-2023 term loan	340.0		—
TILC warehouse facility	545.5		721.8
	3,891.2		3,821.8
Less: unamortized debt issuance costs	(20.4)		(21.1)
	3,870.8		3,800.7
Partially-owned subsidiaries:
Secured railcar equipment notes, net of unamortized discount of $0.2 and $0.3	1,176.5		1,192.6
Less: unamortized debt issuance costs	(8.6)		(9.8)
	1,167.9		1,182.8
Total non–recourse debt	5,038.7		4,983.5
Total debt	$	5,832.6	$	5,607.6

The estimated fair values of our debt are as follows:

	June 30, 2023		December 31, 2022
	(in millions)
Level 1	$	1,580.4	$	1,662.8
Level 2	796.6		387.5
Level 3	3,116.5		3,194.0
	$	5,493.5	$	5,244.3