Debt (Tables)

3 Months Ended

Mar. 31, 2013

The following table summarizes the components of debt as of March 31, 2013 and December 31, 2012:



	March 31, 2013			December 31, 2012
				(as reported)
	(in millions)
Manufacturing/Corporate – Recourse:
Revolving credit facility	$	—		$	—
Convertible subordinated notes	450.0			450.0
Less: unamortized discount	(84.2		)	(87.5		)
	365.8			362.5
Other	1.1			1.2
	366.9			363.7
Leasing – Recourse:
Capital lease obligations	45.1			45.8
Term loan	—			48.6
	45.1			94.4
Total recourse debt	412.0			458.1

Leasing – Non-recourse:
2006 secured railcar equipment notes	252.2			255.8
Promissory notes	418.2			424.1
2009 secured railcar equipment notes	206.7			209.2
2010 secured railcar equipment notes	337.9			341.5
2012 secured railcar equipment notes	331.1			333.8
TILC warehouse facility	167.9			173.6
TRIP Holdings senior secured notes:
Total outstanding	170.0			170.0
Less: owned by Trinity	(108.8		)	(108.8		)
	61.2			61.2
TRIP Master Funding secured railcar equipment notes	787.6			797.7
Total non–recourse debt	2,562.8			2,596.9
Total debt	$	2,974.8		$	3,055.0

Total interest expense recognized on the Convertible Subordinated Notes

Total interest expense recognized on the Convertible Subordinated Notes for the three months ended March 31, 2013 and 2012 is as follows:



	Three Months Ended March 31,
	2013		2012
	(in millions)
Coupon rate interest	$	4.4	$	4.4
Amortized debt discount	3.3		3.0
	$	7.7	$	7.4

Remaining principal payments under existing debt agreements

The remaining principal payments under existing debt agreements as of March 31, 2013, after considering the extension of the TILC warehouse facility in February 2013, are as follows:



	Remaining nine months of 2013		2014			2015		2016		2017		Thereafter
	(in millions)
Recourse:
Manufacturing/Corporate	$	0.2	$	0.2		$	0.2	$	0.2	$	0.3	$	450.0
Leasing – capital lease obligations (Note 5)	2.2		3.1			3.3		3.5		3.7		29.3
Non-recourse – leasing (Note 5):
2006 secured railcar equipment notes	11.5		16.9			18.6		21.9		24.1		159.2
Promissory notes	21.6		25.4			22.7		348.5		—		—
2009 secured railcar equipment notes	7.7		9.9			9.6		6.5		6.3		166.7
2010 secured railcar equipment notes	11.0		14.0			15.3		15.0		13.7		268.9
2012 secured railcar equipment notes	12.5		16.6			15.7		15.9		13.8		256.6
TILC warehouse facility	2.4		4.6			0.5		—		—		—
TRIP Holdings senior secured notes:
Total outstanding	—		170.0			—		—		—		—
Less: owned by Trinity	—		(108.8		)	—		—		—		—
			61.2
TRIP Master Funding secured railcar equipment notes	30.8		40.1			35.7		29.3		20.4		631.3
Facility termination payments - TILC warehouse facility	—		106.9			53.5		—		—		—
Total principal payments	$	99.9	$	298.9		$	175.1	$	440.8	$	82.3	$	1,962.0