XML 61 R37.htm IDEA: XBRL DOCUMENT v3.25.0.1
Note 9. Debt (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments
The carrying amounts and estimated fair values of our debt are as follows:
December 31, 2024December 31, 2023
Carrying ValueEstimated Fair ValueCarrying ValueEstimated Fair Value
 (in millions)
Corporate – Recourse:
Revolving credit facility$— $— $— $— 
Senior notes due 2024, net of unamortized discount of $— and $0.1
— — 399.9 394.5 
Senior notes due 2028, inclusive of unamortized premium of $4.3 and $—
604.3 623.2 400.0 417.6 
604.3 623.2 799.9 812.1 
Less: unamortized debt issuance costs(6.5)(5.3)
Total recourse debt597.8 794.6 
Lease fleet – Non-recourse:
Wholly-owned subsidiaries:
TILC warehouse facility584.6 584.6 529.3 529.3 
2009 secured railcar equipment notes— — 99.7 100.3 
2010 secured railcar equipment notes150.0 148.5 181.2 176.5 
2017 promissory notes, net of unamortized discount of $1.5 and $3.5
631.3 631.3 673.7 673.7 
2018 secured railcar equipment notes, net of unamortized discount of $0.1 and $0.1
359.1 344.9 378.0 355.2 
2019 secured railcar equipment notes, net of unamortized discount of $0.1 and $0.1
711.3 694.7 748.5 709.4 
2020 secured railcar equipments notes, net of unamortized discount of $— and $—
296.8 275.1 311.3 277.9 
2021 secured railcar equipment notes, net of unamortized discount of $0.1 and $—
706.4 682.5 295.3 256.9 
2022 secured railcar equipment notes, net of unamortized discount of $— and $—
223.7 215.8 232.7 220.2 
TRL-2023 term loan323.4 323.4 334.5 334.5 
Other equipment financing50.0 50.0 52.3 52.3 
4,036.6 3,950.8 3,836.5 3,686.2 
Less: unamortized debt issuance costs(15.3)(17.3)
4,021.3 3,819.2 
Partially-owned subsidiaries:
TRP-2021 secured railcar equipment notes, net of unamortized discount of $— and $—
319.6 296.9 335.1 296.3 
Triumph Rail secured railcar equipment notes, net of unamortized discount of $0.1 and $0.1
469.4 437.1 501.7 447.6 
Tribute Rail secured railcar equipment notes, net of unamortized discount of $— and $—
287.8 285.0 311.0 300.1 
1,076.8 1,019.0 1,147.8 1,044.0 
Less: unamortized debt issuance costs(5.0)(7.4)
1,071.8 1,140.4 
Total non–recourse debt5,093.1 4,959.6 
Total debt$5,690.9 $5,593.0 $5,754.2 $5,542.3 
Schedule of Maturities of Long-term Debt [Table Text Block]
The remaining principal payments under existing debt agreements as of December 31, 2024 based on the anticipated repayment dates are as follows:
20252026202720282029ThereafterTotal
(in millions)
Recourse:
Senior notes due 2028— — — 600.0 — — 600.0 
Non-recourse – lease fleet (Note 6):
TILC warehouse facility17.5 17.5 17.5 4.4 — — 56.9 
Facility termination payments – TILC warehouse facility— — — 527.7 — — 527.7 
2010 secured railcar equipment notes20.4 25.5 28.2 23.9 21.4 30.6 150.0 
2017 promissory notes632.8 — — — — — 632.8 
2018 secured railcar equipment notes14.8 14.4 18.1 311.9 — — 359.2 
2019 secured railcar equipment notes35.0 676.4 — — — — 711.4 
2020 secured railcar equipment notes10.9 13.7 272.2 — — — 296.8 
2021 secured railcar equipment notes29.1 30.5 30.1 259.8 18.4 338.6 706.5 
2022 secured railcar equipment notes6.7 8.1 8.2 8.2 192.5 — 223.7 
TRL-2023 term loan11.1 11.1 11.1 290.1 — — 323.4 
Other equipment financing2.4 2.5 2.7 2.8 3.0 36.6 50.0 
TRP-2021 secured railcar equipment notes 15.8 17.2 286.6 — — — 319.6 
Triumph Rail secured railcar equipment notes 29.1 23.3 417.1 — — — 469.5 
Tribute Rail secured railcar equipment notes14.5 273.3 — — — — 287.8 
Total principal payments$840.1 $1,113.5 $1,091.8 $2,028.8 $235.3 $405.8 $5,715.3