Fair Value Accounting (Tables)

3 Months Ended

Mar. 31, 2012

Fair Value Accounting [Abstract]

Assets and liabilities measured at fair value on recurring basis

	Fair Value Measurement as of March 31, 2012
	(in millions)
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	$	134.8	$	—	$	—	$	134.8
Restricted cash		224.0		—		—		224.0
Equity call agreement with TRIP Holdings equity investor 1		—		—		0.7		0.7
Fuel derivative instruments 1		—		0.1		—		0.1
Total assets	$	358.8	$	0.1	$	0.7	$	359.6
Liabilities:
Interest rate hedges 2
Wholly-owned subsidiary	$	—	$	46.2	$	—	$	46.2
TRIP Holdings		—		4.2		—		4.2
Equity put agreement with TRIP Holdings equity investor 3		—		—		2.6		2.6
Total liabilities	$	—	$	50.4	$	2.6	$	53.0
	Fair Value Measurement as of December 31, 2011
	(in millions)
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	$	246.6	$	—	$	—	$	246.6
Restricted cash		240.3		—		—		240.3
Equity call agreement with TRIP Holdings equity investor 1		—		—		0.7		0.7
Total assets	$	486.9	$	—	$	0.7	$	487.6
Liabilities:
Interest rate hedges 2
Wholly-owned subsidiary	$	—	$	48.9	$	—	$	48.9
TRIP Holdings		—		4.8		—		4.8
Equity put agreement with TRIP Holdings equity investor 3		—		—		3.1		3.1
Fuel derivative instruments 2		—		0.1		—		0.1
Total liabilities	$	—	$	53.8	$	3.1	$	56.9

¹  Included in other assets on the consolidated balance sheet.

²  Included in accrued liabilities on the consolidated balance sheet.

³ Included in other liabilities on the consolidated balance sheet.

Carrying amounts and estimated fair values of long-term debt

	March 31, 2012					December 31, 2011
	Carrying Value			Estimated Fair Value		Carrying Value			Estimated Fair Value
	(in millions)
Recourse:
Convertible subordinated notes	$	450.0		$	490.4	$	450.0		$	439.4
Less: unamortized discount		(96.8	)				(99.8	)
		353.2					350.2
Capital lease obligations		47.9			47.9		48.6			48.6
Term loan		54.0			54.6		54.7			55.7
Other		6.1			6.1		4.2			4.2
		461.2			599.0		457.7			547.9
Non-recourse:
2006 secured railcar equipment notes		266.0			283.0		269.3			278.5
Promissory notes		459.3			443.1		465.5			448.6
2009 secured railcar equipment notes		216.2			240.3		218.4			228.6
2010 secured railcar equipment notes		351.3			354.2		354.3			333.1
TILC warehouse facility		282.7			282.7		308.5			308.5
TRIP Holdings senior secured notes		61.2			62.2		61.2			61.6
TRIP Master Funding secured railcar equipment notes		829.6			890.8		840.0			834.9
		2,466.3			2,556.3		2,517.2			2,493.8
Total	$	2,927.5		$	3,155.3	$	2,974.9		$	3,041.7