v3.25.1
Debt (Tables)
 3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Components of debt
The carrying amounts of our debt are as follows:
March 31, 2025December 31, 2024
 (in millions)
Corporate – Recourse:
Revolving credit facility$— $— 
Senior notes due 2028, inclusive of unamortized premium of $4.0 and $4.3
604.0 604.3 
604.0 604.3 
Less: unamortized debt issuance costs(6.0)(6.5)
Total recourse debt598.0 597.8 
Lease fleet – Non-recourse:
Wholly-owned subsidiaries:
Secured railcar equipment notes, net of unamortized discount of $0.3 and $0.3
2,418.8 2,447.3 
2017 promissory notes, net of unamortized discount of $1.1 and $1.5
620.6 631.3 
TRL-2023 term loan320.7 323.4 
TILC warehouse facility566.0 584.6 
Other equipment financing49.4 50.0 
3,975.5 4,036.6 
Less: unamortized debt issuance costs(13.9)(15.3)
3,961.6 4,021.3 
Partially-owned subsidiaries:
Secured railcar equipment notes, net of unamortized discount of $0.1 and $0.1
1,061.0 1,076.8 
Less: unamortized debt issuance costs(4.4)(5.0)
1,056.6 1,071.8 
Total non-recourse debt5,018.2 5,093.1 
Total debt$5,616.2 $5,690.9 
The estimated fair values of our debt are as follows:
March 31, 2025December 31, 2024
(in millions)
Level 2$622.1 $623.2 
Level 3$3,421.5 $3,430.5