XML 54 R38.htm IDEA: XBRL DOCUMENT v3.25.3
Derivative Instruments and Fair Value Accounting Derivative Instruments (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Jun. 30, 2025
Apr. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Derivative [Line Items]                  
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest $ 1,250.4 $ 1,257.8   $ 1,299.7 $ 1,307.2 $ 1,298.5 $ 1,304.0 $ 1,288.5 $ 1,275.5
Designated as Hedging Instrument [Member]                  
Derivative [Line Items]                  
Derivative Liability     $ (6.7)            
Designated as Hedging Instrument [Member] | Interest Rate Swap, Expired, 2018 Secured Railcar Equipment Notes [Member]                  
Derivative [Line Items]                  
Derivative, Notional Amount $ 249.3                
Derivative, Average Fixed Interest Rate [1] 4.41%                
Derivative Asset $ 0.0                
Designated as Hedging Instrument [Member] | Interest Rate Swap, Expired, Tribute Rail Secured Railcar Equipment Notes                  
Derivative [Line Items]                  
Derivative, Notional Amount $ 256.0                
Derivative, Average Fixed Interest Rate [1] 2.86%                
Derivative Asset $ 0.0                
Designated as Hedging Instrument [Member] | Interest Rate Cap [Member]                  
Derivative [Line Items]                  
Derivative, Notional Amount $ 169.3                
Derivative, Cap Interest Rate 3.00%                
Derivative Asset $ 0.0                
Designated as Hedging Instrument [Member] | Interest Rate Swap, 2017 Promissory Notes - Expired [Member]                  
Derivative [Line Items]                  
Derivative, Notional Amount [2] $ 372.5                
Derivative, Average Fixed Interest Rate [1] 2.31%                
Derivative Asset $ 0.0                
Designated as Hedging Instrument [Member] | Interest Rate Swap, TRL-2023 Term Loan - Expired [Member]                  
Derivative [Line Items]                  
Derivative, Notional Amount [2] $ 255.8                
Derivative, Average Fixed Interest Rate [1] 3.79%                
Derivative Asset $ 0.0                
Designated as Hedging Instrument [Member] | Forward Interest Rate Swap, TILC - Expired [Member]                  
Derivative [Line Items]                  
Derivative, Notional Amount [2] $ 525.4                
Derivative, Average Fixed Interest Rate [1] 3.58%                
Derivative Asset $ 0.0                
Designated as Hedging Instrument [Member] | Interest Rate Swap, TRL-2023 Term Loan - Open                  
Derivative [Line Items]                  
Derivative, Notional Amount [3] $ 779.3                
Derivative, Average Fixed Interest Rate [1] 3.57%                
Derivative Liability $ (7.9)                
Designated as Hedging Instrument [Member] | Forward Interest Rate Swap, TILC                  
Derivative [Line Items]                  
Derivative, Notional Amount [4] $ 100.0                
Derivative, Average Fixed Interest Rate [1] 3.21%                
Derivative Asset $ 0.8                
Unrealized gains/(losses) on derivative financial instruments                  
Derivative [Line Items]                  
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest (2.8)       $ (3.0)        
Unrealized gains/(losses) on derivative financial instruments | Designated as Hedging Instrument [Member] | Interest Rate Swap, Expired, 2018 Secured Railcar Equipment Notes [Member]                  
Derivative [Line Items]                  
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest 0.0                
Unrealized gains/(losses) on derivative financial instruments | Designated as Hedging Instrument [Member] | Interest Rate Swap, Expired, Tribute Rail Secured Railcar Equipment Notes                  
Derivative [Line Items]                  
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest 0.0                
Unrealized gains/(losses) on derivative financial instruments | Designated as Hedging Instrument [Member] | Interest Rate Cap [Member]                  
Derivative [Line Items]                  
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest 0.0                
Unrealized gains/(losses) on derivative financial instruments | Designated as Hedging Instrument [Member] | Interest Rate Swap, 2017 Promissory Notes - Expired [Member]                  
Derivative [Line Items]                  
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest (0.6)                
Unrealized gains/(losses) on derivative financial instruments | Designated as Hedging Instrument [Member] | Interest Rate Swap, TRL-2023 Term Loan - Expired [Member]                  
Derivative [Line Items]                  
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest 3.3                
Unrealized gains/(losses) on derivative financial instruments | Designated as Hedging Instrument [Member] | Forward Interest Rate Swap, TILC - Expired [Member]                  
Derivative [Line Items]                  
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest 6.3                
Unrealized gains/(losses) on derivative financial instruments | Designated as Hedging Instrument [Member] | Interest Rate Swap, TRL-2023 Term Loan - Open                  
Derivative [Line Items]                  
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest 2.0                
Unrealized gains/(losses) on derivative financial instruments | Designated as Hedging Instrument [Member] | Forward Interest Rate Swap, TILC                  
Derivative [Line Items]                  
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest $ (0.8)                
[1] Weighted average fixed interest rate, except for the interest rate cap on the 2017 promissory notes
[2] These swaps were terminated in April 2025 in connection with the extinguishment of the Trinity Rail Leasing 2017, LLC (“TRL-2017”) promissory notes and the associated refinancing of the amended and restated Trinity Rail Leasing 2023 LLC (“TRL-2023”) term loan agreement. See Note 8 for further information. The swaps had a $6.7 million derivative liability fair value upon termination. In lieu of cash settlement, we incorporated the $6.7 million derivative liability into the terms of the new interest rate swaps, as described in the footnote below, resulting in off-market terms.
[3] In April 2025, we entered into interest rate swaps associated with the amended and restated TRL-2023 term loan agreement. The swaps had a $6.7 million derivative liability fair value at inception, representing the off-market component of the swaps. The off-market value is being ratably amortized into interest expense through the maturity date of the swaps related to the amended and restated TRL-2023 term loan.
[4] We entered into a forward starting interest rate swap to hedge a portion of the risk of potential interest rate increases in anticipation of a debt issuance, which was completed in October 2025. See Note 8 for further information.