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Debt (Tables) | 3 Months Ended
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Mar. 31, 2024
Debt Disclosure [Abstract] |
Components of debt | The carrying amounts of our debt are as follows:
| March 31, 2024 |  | December 31, 2023
| (in millions)
Corporate – Recourse: |  |  |
Revolving credit facility | $ | — |  |  | $ | — |
Senior notes due 2024, net of unamortized discount of $— and $0.1 | 400.0 |  |  | 399.9 |
Senior notes due 2028 | 400.0 |  |  | 400.0 |
| 800.0 |  |  | 799.9 |
Less: unamortized debt issuance costs | (5.0) |  |  | (5.3) |
Total recourse debt | 795.0 |  |  | 794.6 |
Lease fleet – Non-recourse: |  |  |
Wholly-owned subsidiaries: |  |  |
Secured railcar equipment notes, net of unamortized discount of $0.2 and $0.2 | 2,213.6 |  |  | 2,246.7 |
2017 promissory notes, net of unamortized discount of $3.0 and $3.5 | 663.1 |  |  | 673.7 |
TRL-2023 term loan | 331.7 |  |  | 334.5 |
TILC warehouse facility | 701.8 |  |  | 529.3 |
Other equipment financing | 51.8 |  |  | 52.3 |
| 3,962.0 |  |  | 3,836.5 |
Less: unamortized debt issuance costs | (16.0) |  |  | (17.3) |
| 3,946.0 |  |  | 3,819.2 |
Partially-owned subsidiaries: |  |  |
Secured railcar equipment notes, net of unamortized discount of $0.1 and $0.1 | 1,132.8 |  |  | 1,147.8 |
Less: unamortized debt issuance costs | (6.8) |  |  | (7.4) |
| 1,126.0 |  |  | 1,140.4 |
Total non-recourse debt | 5,072.0 |  |  | 4,959.6 |
Total debt | $ | 5,867.0 |  |  | $ | 5,754.2 |
The estimated fair values of our debt are as follows:
| March 31, 2024 |  | December 31, 2023
| (in millions)
Level 2 | $ | 807.3 |  |  | $ | 812.1 |
Level 3 | $ | 3,174.1 |  |  | $ | 3,192.7 |

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- Definition Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements. + References No definition available. + Details
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