OneMain (OMF) 10-Q 29 Apr 20 2020 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2020	Apr. 23, 2020
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity File Number	001-36129
Entity Registrant Name	ONEMAIN HOLDINGS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	27-3379612
Entity Address, Address Line One	601 N.W. Second Street
Entity Address, City or Town	Evansville
Entity Address, State or Province	IN
Entity Address, Postal Zip Code	47708
City Area Code	812
Local Phone Number	424-8031
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	OMF
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		134,317,604
Entity Central Index Key	0001584207
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
SFC
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity File Number	001-06155
Entity Registrant Name	SPRINGLEAF FINANCE CORP
Entity Incorporation, State or Country Code	IN
Entity Tax Identification Number	35-0416090
Entity Address, Address Line One	601 N.W. Second Street
Entity Address, City or Town	Evansville
Entity Address, State or Province	IN
Entity Address, Postal Zip Code	47708
City Area Code	812
Local Phone Number	424-8031
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		10,160,021
Entity Central Index Key	0000025598
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents	$ 4,203	$ 1,227
Investment securities (includes available-for-sale securities with a fair value and amortized cost basis of $1.7 billion in 2020)	1,800	1,884
Net finance receivables (includes loans of consolidated VIEs of $12.1 billion in 2020 and $8.4 billion in 2019)	18,269	18,389
Unearned insurance premium and claim reserves	(797)	(793)
Allowance for finance receivable losses (includes allowance of consolidated VIEs of $1.4 billion in 2020 and $340 million in 2019)	(2,182)	(829)
Net finance receivables, less unearned insurance premium and claim reserves and allowance for finance receivable losses	15,290	16,767
Restricted cash and restricted cash equivalents (includes restricted cash and restricted cash equivalents of consolidated VIEs of $567 million in 2020 and $400 million in 2019)	575	405
Goodwill	1,422	1,422
Other intangible assets	334	343
Other assets	1,069	769
Total assets	24,693	22,817
Liabilities and Shareholders’ Equity
Long-term debt (includes debt of consolidated VIEs of $10.9 billion in 2020 and $7.6 billion in 2019)	20,443	17,212
Insurance claims and policyholder liabilities	633	649
Deferred and accrued taxes	68	34
Other liabilities	497	592
Total liabilities	21,641	18,487
Contingencies (Note 14)
Shareholders’ equity:
Common stock, par value $0.01 per share; 2,000,000,000 shares authorized, 134,309,707 and 136,101,156 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively	1	1
Additional paid-in capital	1,645	1,689
Accumulated other comprehensive income	(6)	44
Retained earnings	1,412	2,596
Total shareholders’ equity	3,052	4,330
Total liabilities and shareholders’ equity	24,693	22,817
SFC
Assets
Cash and cash equivalents	4,203	1,227
Investment securities (includes available-for-sale securities with a fair value and amortized cost basis of $1.7 billion in 2020)	1,800	1,884
Net finance receivables (includes loans of consolidated VIEs of $12.1 billion in 2020 and $8.4 billion in 2019)	18,269	18,389
Unearned insurance premium and claim reserves	(797)	(793)
Allowance for finance receivable losses (includes allowance of consolidated VIEs of $1.4 billion in 2020 and $340 million in 2019)	(2,182)	(829)
Net finance receivables, less unearned insurance premium and claim reserves and allowance for finance receivable losses	15,290	16,767
Restricted cash and restricted cash equivalents (includes restricted cash and restricted cash equivalents of consolidated VIEs of $567 million in 2020 and $400 million in 2019)	575	405
Goodwill	1,422	1,422
Other intangible assets	334	343
Other assets	1,068	768
Total assets	24,692	22,816
Liabilities and Shareholders’ Equity
Long-term debt (includes debt of consolidated VIEs of $10.9 billion in 2020 and $7.6 billion in 2019)	20,443	17,212
Insurance claims and policyholder liabilities	633	649
Deferred and accrued taxes	69	35
Other liabilities	500	595
Total liabilities	21,645	18,491
Contingencies (Note 14)
Shareholders’ equity:
Common stock, par value $0.01 per share; 2,000,000,000 shares authorized, 134,309,707 and 136,101,156 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively	5	5
Additional paid-in capital	1,889	1,888
Accumulated other comprehensive income	(6)	44
Retained earnings	1,159	2,388
Total shareholders’ equity	3,047	4,325
Total liabilities and shareholders’ equity	$ 24,692	$ 22,816

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Investment, amortized cost basis	$ 1,735	$ 1,745
Fair Value	1,732	1,798
Net finance receivables	18,269	18,389
Allowance for finance receivable losses	2,182	829
Restricted cash and restricted cash equivalents	575	405
Long-term debt	20,443	17,212
Other liabilities	$ 497	$ 592
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	2,000,000,000	2,000,000,000
Common stock, shares issued (in shares)	134,309,707	136,101,156
Common stock, shares outstanding (in shares)	134,309,707	136,101,156
Finance receivable - Personal loan
Net finance receivables	$ 18,269
Allowance for finance receivable losses	2,182	$ 829
SFC
Investment, amortized cost basis	1,700
Fair Value	1,700
Net finance receivables	18,269	18,389
Allowance for finance receivable losses	2,182	829
Restricted cash and restricted cash equivalents	575	405
Long-term debt	20,443	17,212
Other liabilities	$ 500	$ 595
Common stock, par value (in dollars per share)	$ 0.50	$ 0.50
Common stock, shares authorized (in shares)	25,000,000	25,000,000
Common stock, shares issued (in shares)	10,160,021	10,160,021
Common stock, shares outstanding (in shares)	10,160,021	10,160,021
Consolidated VIEs
Allowance for finance receivable losses	$ 1,392	$ 340
Restricted cash and restricted cash equivalents	567	400
Long-term debt	10,864	7,643
Other liabilities	17	14
Consolidated VIEs | Finance receivable - Personal loan
Net finance receivables	12,083	8,428
Consolidated VIEs | SFC
Allowance for finance receivable losses	1,400	340
Restricted cash and restricted cash equivalents	567	400
Long-term debt	10,900	7,600
Other liabilities	17	14
Consolidated VIEs | SFC | Finance receivable - Personal loan
Net finance receivables	$ 12,100	$ 8,400

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Interest income	$ 1,106	$ 956
Interest expense	255	236
Net interest income	851	720
Provision for finance receivable losses	531	286
Net interest income after provision for finance receivable losses	320	434
Other revenues:
Insurance	117	110
Investment	9	26
Net loss on repurchase and repayment of debt	0	(21)
Net gain on sale of real estate loans	0	3
Noninterest Income, Other	15	30
Total other revenues	141	148
Other expenses:
Salaries and benefits	199	199
Other operating expenses	151	136
Insurance policy benefits and claims	68	45
Total other expenses	418	380
Income before income taxes	43	202
Income tax expense (benefit)	11	50
Net income	$ 32	$ 152
Weighted average number of shares outstanding:
Basic (in shares)	135,909,100	136,001,996
Diluted (in shares)	136,138,677	136,191,283
Earnings per share:
Basic (in dollars per share)	$ 0.24	$ 1.12
Diluted (in dollars per share)	$ 0.24	$ 1.11
SFC
Interest income	$ 1,106	$ 956
Interest expense	255	236
Net interest income	851	720
Provision for finance receivable losses	531	286
Net interest income after provision for finance receivable losses	320	434
Other revenues:
Insurance	117	110
Investment	9	26
Net loss on repurchase and repayment of debt	0	(21)
Net gain on sale of real estate loans	0	3
Noninterest Income, Other	15	34
Total other revenues	141	152
Other expenses:
Salaries and benefits	199	199
Other operating expenses	151	137
Insurance policy benefits and claims	68	45
Total other expenses	418	381
Income before income taxes	43	205
Income tax expense (benefit)	11	49
Net income	$ 32	$ 156

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Net income	$ 32	$ 152
Other comprehensive income (loss):
Net change in unrealized gains (losses) on non-credit impaired available-for-sale securities	(55)	39
Foreign currency translation adjustments	(10)	2
Income tax effect:
Net unrealized gains (losses) on non-credit impaired available-for-sale securities	13	(9)
Foreign currency translation adjustments	2	0
Other comprehensive income (loss), net of tax	(50)	32
Comprehensive income (loss)	(18)	184
SFC
Net income	32	156
Other comprehensive income (loss):
Net change in unrealized gains (losses) on non-credit impaired available-for-sale securities	(55)	39
Foreign currency translation adjustments	(10)	2
Income tax effect:
Net unrealized gains (losses) on non-credit impaired available-for-sale securities	13	(9)
Foreign currency translation adjustments	2	0
Other comprehensive income (loss), net of tax	(50)	32
Comprehensive income (loss)	$ (18)	$ 188

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders’ Equity - USD ($) $ in Millions	Total		Net impact of adoption of ASU 2016-13 (see Note 3)	Balance post-adoption	Common Stock	Common StockBalance post-adoption	Additional Paid-in Capital	Additional Paid-in CapitalBalance post-adoption	Total Accumulated Other Comprehensive Income (Loss)	Total Accumulated Other Comprehensive Income (Loss)Balance post-adoption	Retained Earnings		Retained EarningsNet impact of adoption of ASU 2016-13 (see Note 3)	[1]	Retained EarningsBalance post-adoption	SFC	SFCNet impact of adoption of ASU 2016-13 (see Note 3)	SFCBalance post-adoption	SFCCommon Stock	SFCCommon StockBalance post-adoption	SFCAdditional Paid-in Capital	SFCAdditional Paid-in CapitalBalance post-adoption	SFCTotal Accumulated Other Comprehensive Income (Loss)	SFCTotal Accumulated Other Comprehensive Income (Loss)Balance post-adoption	SFCRetained Earnings	SFCRetained EarningsNet impact of adoption of ASU 2016-13 (see Note 3)	SFCRetained EarningsBalance post-adoption	SMHCSFC	SMHCSFCAdditional Paid-in Capital
Balance at beginning of period at Dec. 31, 2018	$ 3,799				$ 1		$ 1,681		$ (34)		$ 2,151					$ 4,021			$ 5		$ 2,110		$ (34)		$ 1,940
Increase (Decrease) in Stockholders' Equity
Contribution of SCHC to SFC from SFI																												$ 34	$ 34
Share-based compensation expense, net of forfeitures	6						6									6					6
Withholding tax on share-based compensation	(5)						(5)									(5)					(5)
Other comprehensive income (loss)	32								32							32							32
Cash dividends	(34)	[1]									(34)	[1]				(34)							0		(34)
Net income	152										152					156									156
Balance at end of period at Mar. 31, 2019	$ 3,950				1		1,682		(2)		2,269					4,210			5		2,145		(2)		2,062
Increase (Decrease) in Stockholders' Equity
Dividends declared (in dollars per share)	$ 0.25
Balance at beginning of period at Dec. 31, 2019	$ 4,330		$ (828)	$ 3,502	1	$ 1	1,689	$ 1,689	44	$ 44	2,596		$ (828)		$ 1,768	4,325	$ (828)	$ 3,497	5	$ 5	1,888	$ 1,888	44	$ 44	2,388	$ (828)	$ 1,560
Increase (Decrease) in Stockholders' Equity
Common stock repurchased and retired	(45)						(45)
Share-based compensation expense, net of forfeitures	7						7									7					7
Withholding tax on share-based compensation	(6)						(6)									(6)					(6)
Other comprehensive income (loss)	(50)								(50)							(50)							(50)
Cash dividends	(388)	[1]									(388)	[1]				(433)									(433)
Net income	32										32					32									32
Balance at end of period at Mar. 31, 2020	$ 3,052				$ 1		$ 1,645		$ (6)		$ 1,412					$ 3,047			$ 5		$ 1,889		$ (6)		$ 1,159
Increase (Decrease) in Stockholders' Equity
Dividends declared (in dollars per share)	$ 2.83
[1]	Cash dividends declared were $2.83 per share in the first quarter of 2020 and $0.25 per share in the first quarter of 2019.

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities
Net income	$ 32	$ 152
Reconciling adjustments:
Provision for finance receivable losses	531	286
Depreciation and amortization	64	68
Deferred income tax charge (benefit)	(36)	9
Net loss on repurchase and repayment of debt	0	21
Share-based compensation expense, net of forfeitures	7	6
Other	12	(11)
Cash flows due to changes in other assets and other liabilities	(45)	17
Net cash provided by operating activities	565	548
Cash flows from investing activities
Net principal originations of finance receivables held for investment and held for sale	(188)	(290)
Proceeds on sale of finance receivables held for sale originated as held for investment	0	19
Available-for-sale securities purchased	(132)	(154)
Available-for-sale securities called, sold, and matured	128	103
Other securities purchased	(4)	0
Other securities called, sold, and matured	6	5
Other, net	(6)	12
Net cash used for investing activities	(196)	(305)
Cash flows from financing activities
Proceeds from issuance of long-term debt, net of commissions	3,547	2,327
Repayment of long-term debt	(332)	(1,425)
Cash dividends	(387)	(34)
Common stock repurchased and retired	(45)	0
Withholding tax on share-based compensation	(6)	(5)
Net cash provided by (used in) financing activities	2,777	863
Net change in cash and cash equivalents and restricted cash and restricted cash equivalents	3,146	1,106
Cash and cash equivalents and restricted cash and restricted cash equivalents at beginning of period	1,632	1,178
Cash and cash equivalents and restricted cash and restricted cash equivalents at end of period	4,778	2,284
Supplemental cash flow information
Total cash and cash equivalents and restricted cash and restricted cash equivalents	4,778	2,284
Cash paid for amounts included in the measurement of operating lease liabilities	15	15
Supplemental non-cash activities
Right-of-use assets obtained in exchange for operating lease obligations	17	173
SFC
Cash flows from operating activities
Net income	32	156
Reconciling adjustments:
Provision for finance receivable losses	531	286
Depreciation and amortization	64	68
Deferred income tax charge (benefit)	(36)	8
Net loss on repurchase and repayment of debt	0	21
Share-based compensation expense, net of forfeitures	7	6
Other	12	(11)
Cash flows due to changes in other assets and other liabilities	(45)	22
Net cash provided by operating activities	565	556
Cash flows from investing activities
Net principal originations of finance receivables held for investment and held for sale	(188)	(290)
Proceeds on sale of finance receivables held for sale originated as held for investment	0	19
Cash advances on intercompany notes receivables	0	(2)
Available-for-sale securities purchased	(132)	(154)
Available-for-sale securities called, sold, and matured	128	103
Other securities purchased	(4)	0
Other securities called, sold, and matured	6	5
Other, net	(6)	12
Net cash used for investing activities	(196)	(307)
Cash flows from financing activities
Proceeds from issuance of long-term debt, net of commissions	3,547	2,327
Repayment of long-term debt	(332)	(1,425)
Cash dividends	(45)
Payments on intercompany note payable	0	(6)
Withholding tax on share-based compensation	(6)	(5)
Net cash provided by (used in) financing activities	2,777	869
Net change in cash and cash equivalents and restricted cash and restricted cash equivalents	3,146	1,118
Cash and cash equivalents and restricted cash and restricted cash equivalents at beginning of period	1,632	1,162
Cash and cash equivalents and restricted cash and restricted cash equivalents at end of period	4,778	2,280
Supplemental cash flow information
Total cash and cash equivalents and restricted cash and restricted cash equivalents	4,778	2,280
Cash paid for amounts included in the measurement of operating lease liabilities	15	15
Supplemental non-cash activities
Right-of-use assets obtained in exchange for operating lease obligations	17	173
SCLH | SFC
Cash flows from financing activities
Cash contribution of related party	0	12
Supplemental non-cash activities
Non-cash contribution of related party	0	22
OMH | SFC
Cash flows from financing activities
Cash dividends	$ (432)	$ (34)

Business and Basis of Presentat

Business and Basis of Presentation	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Basis of Presentation	1. Business and Basis of Presentation OneMain Holdings, Inc. (“OMH”), and its wholly-owned direct subsidiary, Springleaf Finance Corporation (“SFC”) are financial services holding companies whose subsidiaries engage in the consumer finance and insurance businesses. Prior to the completion of the merger described below, OMH’s direct subsidiary was Springleaf Finance, Inc. (“SFI”). On September 20, 2019, SFC entered into a merger agreement with its direct parent, SFI, to merge SFI with and into SFC, with SFC as the surviving entity. The merger was effective in SFC's condensed consolidated financial statements as of July 1, 2019. As a result of the merger with SFI, SFC became a wholly-owned direct subsidiary of OMH. OMH and SFC are referred to in this report, collectively with their subsidiaries, whether directly or indirectly owned, as “the Company,” “we,” “us,” or “our.” The information in this Quarterly Report on Form 10-Q is equally applicable to OMH and SFC, except where otherwise indicated. At March 31, 2020, the Apollo-Värde Group owned approximately 40.9% of OMH’s common stock. BASIS OF PRESENTATION We prepared our condensed consolidated financial statements using generally accepted accounting principles in the United States of America (“GAAP”). These statements are unaudited. The year-end condensed balance sheet data was derived from our audited financial statements but does not include all disclosures required by GAAP. The statements include the accounts of OMH, its subsidiaries (all of which are wholly-owned), and variable interest entities (“VIEs”) in which we hold a controlling financial interest and for which we are considered to be the primary beneficiary as of the financial statement date. We eliminated all material intercompany accounts and transactions. We made judgments, estimates, and assumptions that affect amounts reported in our condensed consolidated financial statements and disclosures of contingent assets and liabilities. In management’s opinion, the condensed consolidated financial statements include the normal, recurring adjustments necessary for a fair statement of results. Actual results could differ from our estimates. We evaluated the effects of and the need to disclose events that occurred subsequent to the balance sheet date. To conform to the 2020 presentation, we have reclassified certain items in prior periods of our condensed consolidated financial statements. The condensed consolidated financial statements in this report should be read in conjunction with the consolidated financial statements and related notes included in our 2019 Annual Report on Form 10-K. We follow the same significant accounting policies for our interim reporting, except for the new accounting pronouncements subsequently adopted and disclosed in Note 3 below.

Reconciliation of Springleaf Fi

Reconciliation of Springleaf Finance Corporation Results to OneMain Holdings, Inc. Results	3 Months Ended
	Mar. 31, 2020
Business Combinations [Abstract]
Reconciliation of Springleaf Finance Corporation Results to OneMain Holdings, Inc. Results	2. Reconciliation of Springleaf Finance Corporation Results to OneMain Holdings, Inc. Results The results of SFC are consolidated into the results of OMH. Due to the nominal differences between SFC and OMH, content throughout this filing relates to both OMH and SFC. SFC disclosures relate only to itself and not to any other company. Except where otherwise indicated, and excluding certain insignificant cash and non-cash transactions at the OMH level, these notes relate to the condensed consolidated financial statements for both companies, OMH and SFC. In addition to certain intercompany payable and receivable amounts between the entities, the following is a reconciliation of the condensed consolidated balance sheets and results of our condensed consolidated statements of operations of SFC to OMH: March 31, 2020 December 31, 2019 (dollars in millions) OMH SFC Difference OMH SFC Difference Other assets $ 1,069 $ 1,068 $ 1 $ 769 $ 768 $ 1 Deferred and accrued taxes 68 69 (1) 34 35 (1) Other liabilities 497 500 (3) 592 595 (3) Total shareholders' equity (a) 3,052 3,047 5 4,330 4,325 5 Three Months Ended March 31, 2020 2019 (dollars in millions) OMH SFC Difference OMH SFC Difference Other revenues (b) $ 15 $ 15 $ — $ 30 $ 34 $ (4) Other operating expenses 151 151 — 136 137 (1) Income before income taxes 43 43 — 202 205 (3) Income taxes 11 11 — 50 49 1 Net Income 32 32 — 152 156 (4) (a) The differences between total shareholders’ equity in the periods ended March 31, 2020 and December 31, 2019 were due to historical differences in results of operations of the companies and differences in equity awards. (b) Other revenues include the interest income on notes receivables from parent, which were notes from SFI held by SFC and Springleaf Mortgage Holding Company and subsidiaries (“SMHC”), a wholly-owned direct subsidiary of SFC. See Note 1 and below for further discussion of the merger between SFI and SFC. The following transactions are related to SFC and have no impact on OMH's condensed consolidated financial results. Merger of SFI into SFC On September 20, 2019, SFC entered into a merger agreement with its direct parent SFI, to merge SFI with and into SFC, with SFC as the surviving entity. The merger was effective in SFC's condensed consolidated financial statements as of July 1, 2019. In conjunction with the merger, the net deficiency of SFI, after elimination of its investment in SFC, was absorbed by SFC resulting in an equity reduction of $408 million to SFC, which included the elimination of the intercompany notes and receivables between SFC and SFI, as discussed below. The net deficiency of SFI included an intercompany note payable plus accrued interest of $166 million from SFI to OMH, which SFC assumed through the merger. On September 23, 2019, SFC repaid SFI’s note to OMH. Concurrently, OMH paid $22 million in other payables due to SFC and made an equity contribution of $144 million to SFC. The transactions noted above resulted in a net $264 million reduction to SFC's equity. SFC's Notes Receivable from Parent As a result of the merger between SFI and SFC, described in Note 1 and above, a $232 million note receivable from SFI to SFC was dissolved effective July 1, 2019. Additionally, SFC assumed a $28 million note payable from SFI to SMHC, a wholly-owned subsidiary of SFC, and SFC subsequently paid off the note on September 23, 2019. Interest income on these notes receivable totaled $4 million for the three months ended March 31, 2019, which we report in other revenues. Springleaf Consumer Loan Holding Company (“SCLH”) Contribution On March 10, 2019, all of the outstanding capital stock of SCLH, a subsidiary of SFI, was contributed to SFC and SCLH became a wholly-owned direct subsidiary of SFC. The contribution was effective as of January 1, 2019 and increased SFC’s total shareholder’s equity and total assets by $34 million and $53 million, respectively. The contribution is presented prospectively because it is deemed to be a contribution of net assets. Parent and Affiliate Receivables and Payables There were no receivables from parent and affiliates at March 31, 2020 and December 31, 2019 as the balances were eliminated due to the merger of SFI and SFC, and the SCLH contribution noted above. Payables to parent and affiliate are included in other liabilities and were immaterial at March 31, 2020 and December 31, 2019.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2020
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	3. Recent Accounting Pronouncements ACCOUNTING PRONOUNCEMENTS RECENTLY ADOPTED Financial Instruments - Credit Losses In June of 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments , which significantly changes the way that entities are required to measure credit losses. The new standard requires that the estimated credit loss be based upon an “expected credit loss” approach rather than the “incurred loss” approach previously required. The new approach requires entities to measure all expected credit losses for financial assets over their expected lives based on historical experience, current conditions, and reasonable and supportable forecasts of collectability. The expected credit loss model requires earlier recognition of credit losses than the incurred loss approach. We expect ongoing changes in the allowance for finance receivable losses will be driven primarily by the growth of our loan portfolio, mix of secured and unsecured loans, credit quality, and the economic environment at that time. In addition, the ASU developed a new accounting treatment for purchased financial assets with credit deterioration. The ASU also modifies the other-than-temporary impairment model for available-for-sale debt securities by requiring companies to record an allowance for credit impairment rather than write-downs of such assets. Management has reviewed this update and other ASUs that were subsequently issued to further clarify the implementation guidance outlined in ASU 2016-13. We adopted the amendments of these ASUs as of January 1, 2020. Upon adoption, we recorded an increase to the allowance for finance receivable losses of $1.12 billion, an increase to deferred tax assets of $0.28 billion, and a corresponding one-time cumulative reduction to retained earnings, net of tax, of $0.83 billion in the consolidated balance sheet as of January 1, 2020. The adoption of this ASU, as it relates to available-for-sale debt securities, did not have a material impact on the consolidated financial statements as of January 1, 2020. As result of the adoption of ASU 2016-13, several of our significant accounting policies have changed to reflect the requirements of the new standard. See below for these updated significant accounting policies as of January 1, 2020. Allowance for Finance Receivable Losses We establish the allowance for finance receivable losses through the provision for finance receivable losses. We evaluate our finance receivable portfolio by level of contractual delinquency in the portfolio, specifically in the late stage delinquency buckets and inclusive of the migration of the loans through the delinquency buckets. Our finance receivables consist of a large number of relatively small, homogeneous accounts. We evaluate our finance receivables for impairment as pools. None of our accounts are large enough to warrant individual evaluation for impairment. We estimate the allowance for finance receivable losses primarily on historical loss experience using a cumulative loss model applied to our finance receivable portfolios. Our gross credit loss expectation is offset by the estimate of future recoveries using historical recovery curves. Our finance receivables are primarily segmented in the loss model by contractual delinquency status. Other attributes in the model include collateral mix and recent credit score. To estimate the gross credit losses, the model utilizes a roll rate matrix to project the first 12 months of losses and historical cohort performance to project the expected losses over the remaining term. Our methodology relies solely on historical loss experience to forecast the corresponding future outcomes. These patterns are then applied to the current portfolio to obtain an estimate of future losses. We also consider key economic trends including unemployment rates and bankruptcy filings. Forecasted macroeconomic conditions extend to our reasonable and supportable forecast period and revert to a historical average. No new volume is assumed. Renewals are a significant piece of our new volume and are considered a terminal event of the previous loan. We have elected not to measure an allowance on accrued finance charges as it is our policy to reverse finance charge amounts previously accrued after four contractual payments become past due. Management exercises its judgment when determining the amount of allowance for finance receivable losses. Our judgment is based on quantitative analyses, qualitative factors, such as recent portfolio, industry, and other economic trends, and experience in the consumer finance industry. We adjust the amounts determined by our model for management’s estimate of the effects of model imprecision which include but are not limited to, any changes to underwriting criteria and portfolio seasoning. Impairments on Investment Securities: Available-for-sale. We evaluate our available-for-sale securities on an individual basis to identify any instances where the fair value of the investment security is below its amortized cost. For these securities, we then evaluate whether an impairment exists if any of the following conditions are present: • we intend to sell the security; • it is more likely than not that we will be required to sell the security before recovery of its amortized cost basis; or • we do not expect to recover the security’s entire amortized cost basis (even if we do not intend to sell the security). If we intend to sell an impaired investment security or we will likely be required to sell the security before recovery of its amortized cost basis less any current period credit loss, we recognize the impairment as a direct write-down in investment revenues equal to the difference between the investment security’s amortized cost and its fair value at the balance sheet date. Once the impairment is recorded, we adjust the investment security to a new amortized cost basis equal to the previous amortized cost basis less the impairment write-down recognized in the current period. In determining whether a credit loss exists, we compare our best estimate of the present value of the cash flows expected to be collected from the security to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis of the security, a credit loss exists and an allowance for credit losses is recorded, not to exceed the total unrealized loss on the security. The cash flows expected to be collected are determined by assessing all available information, including issuer default rate, ratings changes and adverse conditions related to the industry sector, financial condition of issuer, credit enhancements, collateral default rates, and other relevant criteria. Management considers factors such as our investment strategy, liquidity requirements, overall business plans, and recovery periods for securities in previous periods of broad market declines. If a credit loss exists with respect to an investment in a security (i.e., we do not expect to recover the entire amortized cost basis of the security), we would be unable to assert that we will recover our amortized cost basis even if we do not intend to sell the security. Therefore, in these situations, a credit impairment is considered to have occurred. If a credit impairment exists, but we do not intend to sell the security and we will likely not be required to sell the security before recovery of its amortized cost basis less any current period credit loss, the impairment is bifurcated as: (i) the estimated amount relating to credit loss; and (ii) the amount relating to non-credit related factors. We recognize the estimated credit loss as an allowance on the balance sheet in investment securities, with a corresponding loss in investment revenues, and the non-credit loss amount in accumulated other comprehensive income or loss. For investment securities in which a credit impairment was recorded through an allowance, we record subsequent increases and decreases in the allowance for credit losses as credit loss expense or reversal of credit loss expense in investment revenues. We will not reverse a previously recorded allowance to an amount below zero. We recognize subsequent increases and decreases in the fair value of our available-for-sale securities from non-credit related factors in accumulated other comprehensive income or loss. Interest receivables on our investment securities are excluded from the amortized cost and fair value and are recorded in “Other assets.” We have elected not to measure an allowance on interest receivables due to our policy to reverse interest receivable at the time collectability is uncertain. The reversal of interest receivable is recorded in investment revenue. See Notes 4, 5, and 7 for additional information on the adoption of ASU 2016-13. ACCOUNTING PRONOUNCEMENTS TO BE ADOPTED Insurance In August of 2018, the FASB issued ASU 2018-12, Financial Services - Insurance: Targeted Improvements to the Accounting for Long-Duration Contracts , which provides targeted improvements to Topic 944 for the assumptions used to measure the liability for future policy benefits for nonparticipating traditional and limited-payment contracts; measurement of market risk benefits; amortization of deferred acquisition costs; and enhanced disclosures. The amendments in this ASU become effective for us beginning January 1, 2022, as a result of the FASB issuing a one-year deferral of this ASU for public companies. We have a cross-functional implementation team and a project plan to ensure we comply with all the amendments in this ASU at the time of adoption. We continue to make progress in evaluating the potential impact of the adoption of the ASU on our consolidated financial statements. We do not believe that any other accounting pronouncements issued, but not yet effective, would have a material impact on our consolidated financial statements or disclosures, if adopted.

Finance Receivables

Finance Receivables	3 Months Ended
	Mar. 31, 2020
Receivables [Abstract]
Finance Receivables	4. Finance Receivables Our finance receivables consist of personal loans, which are non-revolving, with a fixed-rate, a fixed term of three Net finance receivables consist of our total portfolio of personal loans. Components of our personal loans were as follows: (dollars in millions) March 31, 2020 December 31, 2019 Gross receivables * $ 18,080 $ 18,195 Unearned points and fees (238) (242) Accrued finance charges 280 289 Deferred origination costs 147 147 Total $ 18,269 $ 18,389 * Gross receivables equal the unpaid principal balance (“UPB”) except for the following: • Finance receivables purchased as a performing receivable — gross receivables are equal to UPB and, if applicable, any remaining unearned premium or discount established at the time of purchase to reflect the finance receivable balance at its initial fair value; • Purchased credit impaired finance receivables — gross receivables equal the remaining estimated cash flows less the current balance of accretable yield on the purchased credit impaired accounts established prior to the adoption of ASU 2016-13; and • Purchased credit deteriorated finance receivables — gross receivables equal the UPB and any remaining unearned discount established at the time of the adoption of ASU 2016-13 on January 1, 2020. CREDIT QUALITY INDICATOR We consider the delinquency status of our finance receivables as our key credit quality indicator. We monitor the delinquency of our finance receivable portfolio, including the migration between the delinquency buckets and changes in the delinquency trends to manage our exposure to credit risk in the portfolio. When finance receivables are 60 days contractually past due, we consider these accounts to be at an increased risk for loss and we transfer collection of these accounts to our centralized operations. At 90 days or more contractually past due, we consider our finance receivables to be nonperforming. We stop accruing finance charges and reverse finance charges previously accrued on nonperforming loans. We reversed net accrued finance charges of $28 million during the three months ended March 31, 2020. Finance charges recognized from the contractual interest portion of payments received on nonaccrual finance receivables totaled $4 million during the three months ended March 31, 2020. All loans in nonaccrual status are considered in our estimate of allowance for finance receivable losses. The following is a summary of our personal loans held for investment by the year of origination and number of days delinquent, our key credit quality indicator, at March 31, 2020: (dollars in millions) 2020 2019 2018 2017 2016 Prior Total Performing Current $ 2,515 $ 9,465 $ 3,541 $ 1,298 $ 431 $ 213 $ 17,463 30-59 days past due 3 127 66 29 12 8 245 60-89 days past due — 88 48 19 7 5 167 Total performing 2,518 9,680 3,655 1,346 450 226 17,875 Nonperforming (Nonaccrual) 90-179 days past due — 173 131 50 18 13 385 180 days or more past due — 3 4 2 — — 9 Total nonperforming — 176 135 52 18 13 394 Total $ 2,518 $ 9,856 $ 3,790 $ 1,398 $ 468 $ 239 $ 18,269 The following is a summary of our personal loans held for investment by number of days delinquent at December 31, 2019, which is prior to the adoption of ASU 2016-13 on January 1, 2020 and continue to be reported under ASC 310, Receivables : (dollars in millions) Total Performing Current $ 17,550 30-59 days past due 272 60-89 days past due 181 Total performing 18,003 Nonperforming 90-179 days past due 377 180 days or more past due 9 Total nonperforming 386 Total $ 18,389 PURCHASED CREDIT IMPAIRED FINANCE RECEIVABLES ASU 2016-13 superseded the accounting for purchased credit impaired finance receivables with purchase credit deteriorated finance receivables. As a result, we converted all purchased credit impaired finance receivables to purchased credit deteriorated finance receivables in accordance with ASC Topic 326, which resulted in the gross-up of net finance receivables and allowance for finance receivable losses of $15 million on January 1, 2020. Due to the adoption of ASU 2016-13, the following disclosures related to purchase credit impaired finance receivables are no longer applicable for reporting periods beginning in 2020. We previously reported the carrying amount of our purchased credit impaired personal loans in net finance receivables, less allowance for finance receivable losses, and our purchased credit impaired real estate loans in finance receivables held for sale as discussed below. At December 31, 2019, finance receivables held for sale, reported in “Other assets,” totaled $64 million, which include purchased credit impaired real estate loans, as well as TDR real estate loans. See Note 6 for further information on our finance receivables held for sale. Information regarding purchased credit impaired finance receivables were as follows: (dollars in millions) December 31, 2019 Personal Loans Carrying amount, net of allowance $ 40 Outstanding balance (a) 74 Allowance for purchased credit impaired finance receivable losses (b) — Real Estate Loans - Held for Sale Carrying amount $ 19 Outstanding balance (a) 35 (a) Outstanding balance is defined as the UPB of the loans with a net carrying amount. (b) The allowance for purchased credit impaired finance receivable losses reflects the carrying value of the purchased credit impaired loans held for investment exceeding the present value of the expected cash flows. As indicated above, no allowance was required as of December 31, 2019. Changes in accretable yield for purchased credit impaired finance receivables were as follows: (dollars in millions) Three Months Ended March 31, 2019 Personal Loans Balance at beginning of period $ 39 Accretion (5) Balance at end of period $ 34 Real Estate Loans - Held for Sale Balance at beginning of period $ 27 Accretion (1) Transfer due to finance receivables sold (3) Balance at end of period $ 23 TDR FINANCE RECEIVABLES Information regarding TDR finance receivables were as follows: (dollars in millions) March 31, 2020 December 31, 2019 Personal Loans TDR gross receivables (a) $ 686 $ 655 TDR net receivables (b) 688 658 Allowance for TDR finance receivable losses 302 272 Real Estate Loans - Held for Sale TDR gross receivables (a) $ 50 $ 52 TDR net receivables (b) 51 53 (a) TDR gross receivables — gross receivables are equal to UPB and, if applicable, any remaining unearned premium or discount established at the time of purchase if previously purchased as a performing receivable. (b) TDR net receivables — TDR gross receivables net of unearned points and fees, accrued finance charges, and deferred origination costs. TDR average net receivables and finance charges recognized on TDR finance receivables for our personal loans that are held for investment and our real estate loans that are held for sale were as follows: (dollars in millions) Personal Real Estate Loans Total Three Months Ended March 31, 2020 TDR average net receivables $ 676 $ 52 $ 728 TDR finance charges recognized 12 1 13 Three Months Ended March 31, 2019 TDR average net receivables $ 477 $ 64 $ 541 TDR finance charges recognized 12 1 13 Information regarding the new volume of the TDR finance receivables held for investment were as follows: Three Months Ended March 31, (dollars in millions) 2020 2019 Personal Loans Pre-modification TDR net finance receivables $ 158 $ 120 Post-modification TDR net finance receivables: Rate reduction 100 85 Other * 58 35 Total post-modification TDR net finance receivables $ 158 $ 120 Number of TDR accounts 21,818 18,506 * “Other” modifications primarily include potential principal and interest forgiveness contingent on future payment performance by the borrower under the modified terms. New volume of TDR finance receivables held for sale for the three months ended March 31, 2020 and 2019 are not included in the table above as it is immaterial . Personal loans held for investment that were modified as TDR finance receivables within the previous 12 months and for which there was a default during the period to cause the TDR finance receivables to be considered nonperforming (90 days or more past due) are reflected in the following table. Three Months Ended March 31, (dollars in millions) 2020 2019 Personal Loans TDR net finance receivables * $ 31 $ 19 Number of TDR accounts 4,552 2,925 * Represents the corresponding balance of TDR net finance receivables at the end of the month in which they defaulted. Real estate loans held for sale that were modified as TDR finance receivables within the previous 12 months and for which there was a default during the period to cause the TDR finance receivables to be considered nonperforming (90 days or more past due) are immaterial for the three months ended March 31, 2020 and 2019.

Allowance for Finance Receivabl

Allowance for Finance Receivable Losses	3 Months Ended
	Mar. 31, 2020
Receivables [Abstract]
Allowance for Finance Receivable Losses	5. Allowance for Finance Receivable Losses We establish an allowance for finance receivable losses through the provision for finance receivable losses. We evaluate our finance receivable portfolio by the level of contractual delinquency in the portfolio, specifically in the late stage delinquency buckets and inclusive of the migration of the loans through the delinquency buckets. We estimate and record an allowance for finance receivable losses to cover the estimated lifetime expected credit losses on our finance receivables, pursuant to the adoption of ASU 2016-13 on January 1, 2020. Prior to the adoption of ASU 2016-13, we estimated and recorded an allowance for finance receivable losses to cover estimated incurred losses on our finance receivables. Our allowance for finance receivable losses may fluctuate based upon changes in portfolio growth, credit quality, and economic conditions. See Note 3 for additional information regarding our policy for allowance for finance receivable losses. Our current methodology to estimate expected credit losses utilized macroeconomic forecasts as of March 31, 2020, which incorporated the potential impact of the global outbreak of a novel strain of coronavirus (“COVID-19”) could have on the U.S. economy. Our forecast utilized economic projections from a major rating service, and considered a spike in the second quarter unemployment rate followed by a recovery over the second half of the year, with some offsetting benefits related to the positive impacts of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), the involuntary unemployment insurance coverage of our portfolio and our borrower assistance efforts. As a result, our allowance for finance receivable losses as a percentage of finance receivables increased from 10.6% to 11.9%. Changes in the allowance for finance receivable losses were as follows: Three Months Ended March 31, (dollars in millions) 2020 2019 Personal Loans Balance at beginning of period $ 829 $ 731 Impact of adoption of ASU 2016-13 * 1,118 — Provision for finance receivable losses 531 286 Charge-offs (337) (311) Recoveries 41 27 Balance at end of period $ 2,182 $ 733 * As a result of the adoption of ASU 2016-13 on January 1, 2020, we recorded a one-time adjustment to the allowance for finance receivable losses. See Notes 3 and 4 for additional information on the adoption of ASU 2016-13. The allowance for finance receivable losses and net finance receivables by impairment method were as follows: (dollars in millions) March 31, 2020 December 31, 2019 Allowance for finance receivable losses: Collectively evaluated for impairment $ 1,880 $ 557 Purchased credit impaired finance receivables * — — TDR finance receivables 302 272 Total $ 2,182 $ 829 Finance receivables: Collectively evaluated for impairment $ 17,581 $ 17,691 Purchased credit impaired finance receivables * — 40 TDR finance receivables 688 658 Total $ 18,269 $ 18,389 Allowance for finance receivable losses as a percentage of finance receivables 11.95 % 4.51 % * As a result of the adoption of ASU 2016-13 on January 1, 2020, the accounting for purchased credit impaired finance receivables was superseded with purchase credit deteriorated finance receivables which are collectively evaluated for impairment. See Notes 3 and 4 for additional information on the adoption of ASU 2016-3.

Finance Receivables Held for Sa

Finance Receivables Held for Sale	3 Months Ended
	Mar. 31, 2020
Receivables [Abstract]
Finance Receivables Held for Sale	6. Finance Receivables Held for Sale We reported finance receivables held for sale, reported within “Other assets,” of $61 million at March 31, 2020 and $64 million at December 31, 2019, which consist entirely of real estate loans, and are carried at the lower of cost or fair value, applied on an aggregate basis. In February 2019, we sold a portfolio of real estate loans with a carrying value of $16 million for aggregate cash proceeds of $19 million and recorded a net gain in other revenues of $3 million (“February 2019 Real Estate Loan Sale”). After the recognition of the February 2019 Real Estate Loan Sale, the carrying value of the remaining loans classified in finance receivables held for sale exceeded their fair value and, accordingly, we marked the remaining loans to fair value and recorded an impairment in other revenue of $3 million.

Investment Securities

Investment Securities	3 Months Ended
	Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Investment Securities	7. Investment Securities AVAILABLE-FOR-SALE SECURITIES Cost/amortized cost, allowance for credit losses, unrealized gains and losses, and fair value of fixed maturity available-for-sale securities by type were as follows: (dollars in millions) Cost/ Unrealized Unrealized Fair March 31, 2020* Fixed maturity available-for-sale securities: U.S. government and government sponsored entities $ 11 $ — $ — $ 11 Obligations of states, municipalities, and political subdivisions 88 1 — 89 Commercial paper 76 — — 76 Non-U.S. government and government sponsored entities 136 4 (1) 139 Corporate debt 1,061 25 (31) 1,055 Mortgage-backed, asset-backed, and collateralized: RMBS 212 8 (3) 217 CMBS 64 1 (2) 63 CDO/ABS 87 1 (6) 82 Total $ 1,735 $ 40 $ (43) $ 1,732 * There was no allowance for credit losses related to our investment securities as of March 31, 2020. (dollars in millions) Cost/ Unrealized Unrealized Fair December 31, 2019* Fixed maturity available-for-sale securities: U.S. government and government sponsored entities $ 11 $ — $ — $ 11 Obligations of states, municipalities, and political subdivisions 91 2 (1) 92 Commercial paper 91 — — 91 Non-U.S. government and government sponsored entities 144 3 — 147 Corporate debt 1,054 45 (1) 1,098 Mortgage-backed, asset-backed, and collateralized: RMBS 214 3 — 217 CMBS 56 1 — 57 CDO/ABS 84 1 — 85 Total $ 1,745 $ 55 $ (2) $ 1,798 * The balances reported as of December 31, 2019 are not subject to the adoption of ASU 2016-13 on January 1, 2020 and continue to be reported under ASC 320, Investments – Debt and Equity Securities . As of March 31, 2020, interest receivables reported in “Other assets” totaled $13 million, and no amounts were reversed from investment revenue for available-for-sale securities. Fair value and unrealized losses on available-for-sale securities by type and length of time in a continuous unrealized loss position without an allowance for credit losses were as follows: Less Than 12 Months 12 Months or Longer Total (dollars in millions) Fair Unrealized Fair Unrealized Fair Unrealized March 31, 2020 Obligations of states, municipalities, and political subdivisions $ 20 $ — $ — $ — $ 20 $ — Commercial paper 45 — — — 45 — Non-U.S. government and government sponsored entities 17 (1) — — 17 (1) Corporate debt 434 (31) 3 — 437 (31) Mortgage-backed, asset-backed, and collateralized: RMBS 53 (3) — — 53 (3) CMBS 31 (2) 3 — 34 (2) CDO/ABS 57 (6) — — 57 (6) Total $ 657 $ (43) $ 6 $ — $ 663 $ (43) December 31, 2019* U.S. government and government sponsored entities $ — $ — $ 3 $ — $ 3 $ — Obligations of states, municipalities, and political subdivisions 29 (1) 4 — 33 (1) Commercial paper 76 — — — 76 — Non-U.S. government and government sponsored entities 19 — 14 — 33 — Corporate debt 63 (1) 13 — 76 (1) Mortgage-backed, asset-backed, and collateralized: RMBS 45 — — — 45 — CMBS 15 — 7 — 22 — CDO/ABS 14 — — — 14 — Total $ 261 $ (2) $ 41 $ — $ 302 $ (2) * The balances reported as of December 31, 2019 are not subject to the adoption of ASU 2016-13 on January 1, 2020 and continue to be reported under ASC 320, Investments – Debt and Equity Securities . On a lot basis, we had 865 and 398 investment securities in an unrealized loss position at March 31, 2020 and December 31, 2019, respectively. We do not consider the unrealized losses to be credit-related, as these unrealized losses primarily relate to changes in interest rates and market spreads subsequent to purchase. Additionally, at March 31, 2020, there were no credit impairments on investment securities that we intend to sell. We do not have plans to sell any of the remaining investment securities with unrealized losses as of March 31, 2020, and we believe it is more likely than not that we would not be required to sell such investment securities before recovery of their amortized cost. We continue to monitor unrealized loss positions for potential credit impairments. During the three months ended March 31, 2020, there were no credit impairments related to our investment securities. Therefore, there were no material additions or reductions in the allowance for credit losses (impairments recognized or reversed in earnings) on credit impaired available-for-sale securities during the three months ended March 31, 2020. Prior to the adoption of ASU 2016-13, other-than-temporary impairment losses, primarily on corporate debt, in investment revenues were immaterial during the three months ended March 31, 2019. There were no material additions or reductions in the cumulative amount of credit losses (recognized in earnings) on other-than-temporarily impaired available-for-sale securities during the three months ended March 31, 2019. The proceeds of available-for-sale securities sold or redeemed during the three months ended March 31, 2020 and 2019 totaled $58 million and $29 million, respectively. The net realized gains and losses were immaterial during the three months ended March 31, 2020 and 2019. Contractual maturities of fixed-maturity available-for-sale securities at March 31, 2020 were as follows: (dollars in millions) Fair Amortized Fixed maturities, excluding mortgage-backed, asset-backed, and collateralized securities: Due in 1 year or less $ 190 $ 190 Due after 1 year through 5 years 550 551 Due after 5 years through 10 years 473 474 Due after 10 years 157 157 Mortgage-backed, asset-backed, and collateralized securities 362 363 Total $ 1,732 $ 1,735 Actual maturities may differ from contractual maturities since issuers and borrowers may have the right to call or prepay obligations. We may sell investment securities before maturity for general corporate and working capital purposes and to achieve certain investment strategies. The fair value of securities on deposit with third parties totaled $605 million and $633 million at March 31, 2020 and December 31, 2019, respectively. OTHER SECURITIES The fair value of other securities by type was as follows: (dollars in millions) March 31, 2020 December 31, 2019 Fixed maturity other securities: Bonds Non-U.S. government and government sponsored entities $ 1 $ 1 Corporate debt 18 24 Mortgage-backed, asset-backed, and collateralized bonds 14 15 Total bonds 33 40 Preferred stock * 15 19 Common stock * 19 26 Other long-term investments 1 1 Total $ 68 $ 86 * We employ an income equity strategy targeting investments in stocks with strong current dividend yields. Stocks included have a history of stable or increasing dividend payments. Net unrealized losses on other securities held were $13 million for the three months ended March 31, 2020. Net unrealized gains on other securities held were $4 million for the three months ended March 31, 2019. We report these net unrealized gains and losses in investment revenue. Net realized gains and losses on other securities sold or redeemed are included in investment revenue and were immaterial for the three months ended March 31, 2020 and 2019. We report these net gains and losses in investment revenue.

Long-term Debt

Long-term Debt	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Long-term Debt	8. Long-term Debt Principal maturities of long-term debt (excluding projected repayments on securitizations and revolving conduit facilities by period) by type of debt at March 31, 2020 were as follows: Senior Debt (dollars in millions) Securitizations Revolving Unsecured Junior Total Interest rates (b) 1.50%-6.94% 1.51%-3.24% 5.38%-8.25% 3.58 % Remainder of 2020 $ — $ — $ 1,000 $ — $ 1,000 2021 — — 646 — 646 2022 — — 1,000 — 1,000 2023 — — 1,175 — 1,175 2024 — — 1,300 — 1,300 2025-2067 — — 4,399 350 4,749 Securitizations (c) 7,396 — — — 7,396 Revolving conduit facilities (c) — 3,500 — — 3,500 Total principal maturities $ 7,396 $ 3,500 $ 9,520 $ 350 $ 20,766 Total carrying amount $ 7,364 $ 3,500 $ 9,407 $ 172 $ 20,443 Debt issuance costs (d) (27) — (81) — (108) (a) Pursuant to the SFC Base Indenture, the SFC supplemental indentures and the SFC Guaranty Agreements, OMH agreed to fully and unconditionally guarantee, on a senior unsecured basis, payments of principal, premium and interest on the SFC Unsecured Senior Notes and Junior Subordinated Debenture. The OMH guarantees of SFC’s long-term debt are subject to customary release provisions. (b) The interest rates shown are the range of contractual rates in effect at March 31, 2020. (c) Securitizations and borrowings under revolving conduit facilities are not included in the above maturities by period due to their variable monthly repayments, which may result in pay-off prior to the stated maturity date. At March 31, 2020, an aggregate of $3.5 billion was drawn under our revolving conduit facilities. See Note 9 for further information on our long-term debt associated with securitizations and revolving conduit facilities. (d) Debt issuance costs are reported as a direct deduction from long-term debt, with the exception of debt issuance costs associated with our revolving conduit facilities, which totaled $31 million at March 31, 2020 and are reported in “Other assets.”

Variable Interest Entities

Variable Interest Entities	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	9. Variable Interest Entities CONSOLIDATED VIES We have transferred finance receivables to VIEs for asset-backed financing transactions, including securitization and revolving conduit facilities, and include the assets and liabilities in our consolidated financial statements because we are the primary beneficiary of each VIE. We account for these asset-backed debt obligations as secured borrowings. See Note 3 and Note 11 of the Notes to the Consolidated Financial Statements in Part II - Item 8 included in our 2019 Annual Report on Form 10-K for more detail regarding VIEs. We parenthetically disclose on our consolidated balance sheets the VIE’s assets that can only be used to settle the VIE’s obligations and liabilities if its creditors have no recourse against the primary beneficiary’s general credit. The carrying amounts of consolidated VIE assets and liabilities associated with our securitization trusts and revolving conduit facilities were as follows: (dollars in millions) March 31, 2020 December 31, 2019 Assets Cash and cash equivalents $ 2 $ 4 Finance receivables - Personal loans 12,083 8,428 Allowance for finance receivable losses 1,392 340 Restricted cash and restricted cash equivalents 567 400 Other assets 31 29 Liabilities Long-term debt $ 10,864 $ 7,643 Other liabilities 17 15 Other than the retained subordinate and residual interests in our consolidated VIEs, we are under no further obligation than is otherwise noted herein, either contractually or implicitly, to provide financial support to these entities. Consolidated interest expense related to our VIEs totaled $81 million for the three months ended March 31, 2020, compared to $82 million for the three months ended March 31, 2019. SECURITIZED BORROWINGS Each of our securitizations contains a revolving period ranging from one REVOLVING CONDUIT FACILITIES We had access to 14 conduit facilities with a total maximum borrowing capacity of $7.1 billion as of March 31, 2020. Our conduit facilities’ revolving period end ranges from approximately one three

Insurance

Insurance	3 Months Ended
	Mar. 31, 2020
Insurance [Abstract]
Insurance	10. Insurance Changes in the reserve for unpaid claims and loss adjustment expenses (not considering reinsurance recoverable): At or for the Three Months Ended March 31, (dollars in millions) 2020 2019 Balance at beginning of period $ 117 $ 117 Less reinsurance recoverables (4) (4) Net balance at beginning of period 113 113 Additions for losses and loss adjustment expenses incurred to: Current year 77 54 Prior years * (9) (7) Total 68 47 Reductions for losses and loss adjustment expenses paid related to: Current year (17) (17) Prior years (30) (33) Total (47) (50) Foreign currency translation adjustment (1) — Net balance at end of period 133 110 Plus reinsurance recoverables 3 4 Balance at end of period $ 136 $ 114

Capital Stock and Earnings Per

Capital Stock and Earnings Per Share (OMH Only)	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Capital Stock and Earnings Per Share (OMH Only)	11. Capital Stock and Earnings Per Share (OMH Only) CAPITAL STOCK OMH has two classes of authorized capital stock: preferred stock and common stock. SFC has two classes of authorized capital stock: special stock and common stock. OMH and SFC may issue preferred stock and special stock, respectively, in one or more series. The OMH Board of Directors and the SFC Board of Directors determine the dividend, liquidation, redemption, conversion, voting, and other rights prior to issuance. During the three months ended March 31, 2020, the OMH Board of Directors approved a stock repurchase program, which allowed us to repurchase up to $200 million of OMH’s outstanding common stock with no stated expiration. On March 20, 2020, OMH temporarily suspended its stock repurchase program. OMH retains the right to reinstate the stock repurchase program as circumstances change. During the three months ended March 31, 2020, prior to the suspension of the program, OMH repurchased and retired 2,031,698 shares of its common stock with an average price paid per share of $22.30, for an aggregate total of approximately $45 million, including commissions and fees. The aggregate purchase price in excess of the par value of the repurchased OMH common stock is recorded as a reduction to additional paid-in-capital. To provide funding for the OMH stock repurchase and retirement program, the SFC Board of Directors authorized multiple dividend payments in the aggregate amount of $45 million. Changes in OMH shares of common stock issued and outstanding were as follows: Three Months Ended March 31, 2020 2019 Balance at beginning of period 136,101,156 135,832,278 Common shares issued 240,249 250,185 Common shares retired (2,031,698) — Balance at end of period 134,309,707 136,082,463 EARNINGS PER SHARE (OMH ONLY) The computation of earnings per share was as follows: (dollars in millions, except per share data) Three Months Ended March 31, 2020 2019 Numerator (basic and diluted): Net income $ 32 $ 152 Denominator: Weighted average number of shares outstanding (basic) 135,909,100 136,001,996 Effect of dilutive securities * 229,577 189,287 Weighted average number of shares outstanding (diluted) 136,138,677 136,191,283 Earnings per share: Basic $ 0.24 $ 1.12 Diluted $ 0.24 $ 1.11 * We have excluded weighted-average unvested restricted stock units totaling 214,752 and 458,594 for the three months ended March 31, 2020 and 2019, respectively, from the fully-diluted earnings per share calculations as these shares would be anti-dilutive, which could impact the earnings per share calculation in the future. Basic earnings per share is computed by dividing net income by the weighted-average number of shares outstanding during each period. Diluted earnings per share is computed based on the weighted-average number of shares outstanding plus the effect of potentially dilutive shares outstanding during the period using the treasury stock method. The potentially dilutive shares represent outstanding unvested RSUs and RSAs.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	12. Accumulated Other Comprehensive Income (Loss) Changes, net of tax, in accumulated other comprehensive income (loss) were as follows: (dollars in millions) Unrealized Retirement Foreign Total Three Months Ended March 31, 2020 Balance at beginning of period $ 41 $ 3 $ — $ 44 Other comprehensive (loss) before reclassifications (42) — (8) (50) Balance at end of period $ (1) $ 3 $ (8) $ (6) Three Months Ended March 31, 2019 Balance at beginning of period $ (28) $ (3) $ (3) $ (34) Other comprehensive income before reclassifications 30 — 2 32 Balance at end of period $ 2 $ (3) $ (1) $ (2) * There were no amounts related to available-for-sale debt securities for which an allowance for credit losses was recorded during the three months ended March 31, 2020. Reclassification adjustments from accumulated other comprehensive income (loss) to the applicable line item on our condensed consolidated statements of operations were immaterial for the three months ended March 31, 2020 and 2019.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	13. Income Taxes We had a net deferred tax asset of $429 million and $104 million at March 31, 2020 and December 31, 2019, respectively. The increase in our net deferred tax asset of $325 million was primarily due to the tax effect of the increase in the allowance for finance receivable losses from both the adoption of ASU 2016-13 and the current period activity. See Note 5 for further information on the increase in allowance. The increase was partly offset by favorable mark-to-market valuation of our receivables. We follow the guidance of ASC 740, Income Taxes , for interim reporting of income taxes under which we calculate an estimated annual effective tax rate (“AETR”) and apply the AETR to our year-to-date income (loss) before income taxes. In addition, we recognize any discrete items as they occur. Our estimates may need to be further adjusted throughout the year as the effects of COVID-19 plays out in the economic and financial markets, and as a result our AETR may significantly change in the remaining period of 2020. The effective tax rate for the three months ended March 31, 2020 was 24.3%, compared to 24.8% for the same period in 2019. The effective tax rates for the three months ended March 31, 2020 and 2019 differed from the federal statutory rate of 21% primarily due to the effect of state income taxes. We are currently under examination of our U.S. federal tax returns for the years 2014 to 2016 by the IRS. We are also under examination by various states for the years 2011 to 2018. Management believes it has adequately provided for taxes for such years. Our gross unrecognized tax benefits, including related interest and penalties, totaled $12 million at March 31, 2020 and December 31, 2019. We accrue interest related to uncertain tax positions in income tax expense. The amount of any change in the balance of uncertain tax liabilities over the next 12 months is not expected to be material to our consolidated financial statements.

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Contingencies	14. Contingencies LEGAL CONTINGENCIES In the normal course of business, we have been named, from time to time, as defendants in various legal actions, including arbitrations, class actions and other litigation arising in connection with our activities. Some of the actual or threatened legal actions include claims for substantial compensatory and/or punitive damages or claims for indeterminate amounts of damages. While we will continue to evaluate legal actions to determine whether a loss is reasonably possible or probable and is reasonably estimable, there can be no assurance that material losses will not be incurred from pending, threatened or future litigation, investigations, examinations, or other claims. We contest liability and/or the amount of damages, as appropriate, in each pending matter. Where available information indicates that it is probable that a liability had been incurred at the date of the consolidated financial statements and we can reasonably estimate the amount of that loss, we accrue the estimated loss by a charge to income. In many actions, however, it is inherently difficult to determine whether any loss is probable or even reasonably possible, or to estimate the amount of any loss. In addition, even where loss is reasonably possible or an exposure to loss exists in excess of the liability already accrued with respect to a previously recognized loss contingency, it is not always possible to reasonably estimate the size of the possible loss or range of loss. For certain legal actions, we cannot reasonably estimate such losses, particularly for actions that are in their early stages of development or where plaintiffs seek substantial or indeterminate damages. Numerous issues may need to be resolved, including through potentially lengthy discovery and determination of important factual matters, and by addressing novel or unsettled legal questions relevant to the actions in question, before a loss or additional loss or range of loss or additional loss can be reasonably estimated for any given action. For certain other legal actions, we can estimate reasonably possible losses, additional losses, ranges of loss or ranges of additional loss in excess of amounts accrued, but do not believe, based on current knowledge and after consultation with counsel, that such losses will have a material adverse effect on our consolidated financial statements as a whole.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Segment Information	15. Segment Information At March 31, 2020, Consumer and Insurance (“C&I”) is our only reportable segment. The remaining components (which we refer to as “Other”) consist of (i) our liquidating SpringCastle Portfolio servicing activity and (ii) our non-originating legacy operations, which primarily include our liquidating real estate loans. The accounting policies of the C&I segment are the same as those disclosed in Note 3 and Note 19 of the Notes to the Consolidated Financial Statements in Part II - Item 8 included in our 2019 Annual Report on Form 10-K. The following tables present information about C&I and Other, as well as reconciliations to the consolidated financial statement amounts. (dollars in millions) Consumer Other Segment to Consolidated At or for the Three Months Ended March 31, 2020 Interest income $ 1,101 $ 2 $ 3 $ 1,106 Interest expense 249 1 5 255 Provision for finance receivable losses 530 — 1 531 Net interest income after provision for finance receivable losses 322 1 (3) 320 Other revenues 136 4 1 141 Other expenses 407 6 5 418 Income (loss) before income tax expense (benefit) $ 51 $ (1) $ (7) $ 43 Assets $ 22,570 $ 72 $ 2,051 $ 24,693 At or for the Three Months Ended March 31, 2019 Interest income $ 954 $ 3 $ (1) $ 956 Interest expense 229 2 5 236 Provision for finance receivable losses 276 — 10 286 Net interest income after provision for finance receivable losses 449 1 (16) 434 Other revenues * 146 8 (6) 148 Other expenses 363 12 5 380 Income (loss) before income tax expense (benefit) $ 232 $ (3) $ (27) $ 202 Assets $ 19,197 $ 95 $ 2,066 $ 21,358 * Other revenues in Other includes the gain on the February 2019 Real Estate Loan Sale as well as the impairment adjustments on the remaining loans in held for sale in 2019.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	16. Fair Value Measurements The accounting policies of our Fair Value Measurements are the same as those disclosed in Note 3 and Note 20 of the Notes to the Consolidated Financial Statements in Part II - Item 8 included in our 2019 Annual Report on Form 10-K. The following table presents the carrying amounts and estimated fair values of our financial instruments and indicates the level in the fair value hierarchy of the estimated fair value measurement based on the observability of the inputs used: Fair Value Measurements Using Total Total (dollars in millions) Level 1 Level 2 Level 3 March 31, 2020 Assets Cash and cash equivalents $ 4,185 $ 18 $ — $ 4,203 $ 4,203 Investment securities 35 1,763 2 1,800 1,800 Net finance receivables, less allowance for finance receivable losses — — 18,369 18,369 16,087 Restricted cash and restricted cash equivalents 575 — — 575 575 Other assets * — — 70 70 69 Liabilities Long-term debt $ — $ 19,980 $ — $ 19,980 $ 20,443 December 31, 2019 Assets Cash and cash equivalents $ 1,159 $ 68 $ — $ 1,227 $ 1,227 Investment securities 45 1,835 4 1,884 1,884 Net finance receivables, less allowance for finance receivable losses — — 19,319 19,319 17,560 Restricted cash and restricted cash equivalents 405 — — 405 405 Other assets * — — 84 84 74 Liabilities Long-term debt $ — $ 18,509 $ — $ 18,509 $ 17,212 * Other assets at March 31, 2020 and December 31, 2019 includes finance receivables held for sale and miscellaneous receivables related to our liquidating loan portfolios. FAIR VALUE MEASUREMENTS — RECURRING BASIS The following tables present information about our assets measured at fair value on a recurring basis and indicates the fair value hierarchy based on the levels of inputs we utilized to determine such fair value: Fair Value Measurements Using Total Carried At Fair Value (dollars in millions) Level 1 Level 2 Level 3 March 31, 2020 Assets Cash equivalents in mutual funds $ 3,951 $ — $ — $ 3,951 Cash equivalents in securities — 18 — 18 Investment securities: Available-for-sale securities U.S. government and government sponsored entities — 11 — 11 Obligations of states, municipalities, and political subdivisions — 89 — 89 Commercial paper — 76 — 76 Non-U.S. government and government sponsored entities — 139 — 139 Corporate debt 4 1,051 — 1,055 RMBS — 217 — 217 CMBS — 63 — 63 CDO/ABS — 81 1 82 Total available-for-sale securities 4 1,727 1 1,732 Other securities Bonds: Non-U.S. government and government sponsored entities — 1 — 1 Corporate debt — 18 — 18 RMBS — 1 — 1 CDO/ABS — 13 — 13 Total bonds — 33 — 33 Preferred stock 12 3 — 15 Common stock 19 — — 19 Other long-term investments — — 1 1 Total other securities 31 36 1 68 Total investment securities 35 1,763 2 1,800 Restricted cash in mutual funds 573 — — 573 Total $ 4,559 $ 1,781 $ 2 $ 6,342 Fair Value Measurements Using Total Carried At Fair Value (dollars in millions) Level 1 Level 2 Level 3 December 31, 2019 Assets Cash equivalents in mutual funds $ 775 $ — $ — $ 775 Cash equivalents in securities — 68 — 68 Investment securities: Available-for-sale securities U.S. government and government sponsored entities — 11 — 11 Obligations of states, municipalities, and political subdivisions — 92 — 92 Certificates of deposit and commercial paper — 91 — 91 Non-U.S. government and government sponsored entities — 147 — 147 Corporate debt 5 1,093 — 1,098 RMBS — 217 — 217 CMBS — 57 — 57 CDO/ABS — 85 — 85 Total available-for-sale securities 5 1,793 — 1,798 Other securities Bonds: Non-U.S. government and government sponsored entities — 1 — 1 Corporate debt — 23 1 24 RMBS — 1 — 1 CDO/ABS — 12 2 14 Total bonds — 37 3 40 Preferred stock 14 5 — 19 Common stock 26 — — 26 Other long-term investments — — 1 1 Total other securities 40 42 4 86 Total investment securities 45 1,835 4 1,884 Restricted cash in mutual funds 403 — — 403 Total $ 1,223 $ 1,903 $ 4 $ 3,130 Due to the insignificant activity within the Level 3 assets during the three months ended March 31, 2020 and the 2019 period, we have omitted the additional disclosures relating to the changes in Level 3 assets measured at fair value on a recurring basis and the quantitative information about Level 3 unobservable inputs. FAIR VALUE MEASUREMENTS — NON-RECURRING BASIS We measure the fair value of certain assets on a non-recurring basis when events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. Net impairment charges recorded on assets measured at fair value on a non-recurring basis were immaterial for the three months ended March 31, 2020 and 2019. FAIR VALUE MEASUREMENTS — VALUATION METHODOLOGIES AND ASSUMPTIONS See Note 20 of the Notes to the Consolidated Financial Statements in Part II - Item 8 included in our 2019 Annual Report on Form 10-K for information regarding our methods and assumptions used to estimate fair value.

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Policies)	3 Months Ended
	Mar. 31, 2020
Accounting Changes and Error Corrections [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATIONWe prepared our condensed consolidated financial statements using generally accepted accounting principles in the United States of America (“GAAP”). These statements are unaudited. The year-end condensed balance sheet data was derived from our audited financial statements but does not include all disclosures required by GAAP.
CONSOLIDATION	The statements include the accounts of OMH, its subsidiaries (all of which are wholly-owned), and variable interest entities (“VIEs”) in which we hold a controlling financial interest and for which we are considered to be the primary beneficiary as of the financial statement date.We eliminated all material intercompany accounts and transactions.
ESTIMATES	We made judgments, estimates, and assumptions that affect amounts reported in our condensed consolidated financial statements and disclosures of contingent assets and liabilities. In management’s opinion, the condensed consolidated financial statements include the normal, recurring adjustments necessary for a fair statement of results. Actual results could differ from our estimates.
RECLASSIFICATIONS	To conform to the 2020 presentation, we have reclassified certain items in prior periods of our condensed consolidated financial statements.
ACCOUNTING PRONOUNCEMENTS RECENTLY ADOPTED AND ACCOUNTING PRONOUNCEMENTS TO BE ADOPTED	ACCOUNTING PRONOUNCEMENTS RECENTLY ADOPTED Financial Instruments - Credit Losses In June of 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments , which significantly changes the way that entities are required to measure credit losses. The new standard requires that the estimated credit loss be based upon an “expected credit loss” approach rather than the “incurred loss” approach previously required. The new approach requires entities to measure all expected credit losses for financial assets over their expected lives based on historical experience, current conditions, and reasonable and supportable forecasts of collectability. The expected credit loss model requires earlier recognition of credit losses than the incurred loss approach. We expect ongoing changes in the allowance for finance receivable losses will be driven primarily by the growth of our loan portfolio, mix of secured and unsecured loans, credit quality, and the economic environment at that time. In addition, the ASU developed a new accounting treatment for purchased financial assets with credit deterioration. The ASU also modifies the other-than-temporary impairment model for available-for-sale debt securities by requiring companies to record an allowance for credit impairment rather than write-downs of such assets. Management has reviewed this update and other ASUs that were subsequently issued to further clarify the implementation guidance outlined in ASU 2016-13. We adopted the amendments of these ASUs as of January 1, 2020. Upon adoption, we recorded an increase to the allowance for finance receivable losses of $1.12 billion, an increase to deferred tax assets of $0.28 billion, and a corresponding one-time cumulative reduction to retained earnings, net of tax, of $0.83 billion in the consolidated balance sheet as of January 1, 2020. The adoption of this ASU, as it relates to available-for-sale debt securities, did not have a material impact on the consolidated financial statements as of January 1, 2020. As result of the adoption of ASU 2016-13, several of our significant accounting policies have changed to reflect the requirements of the new standard. See below for these updated significant accounting policies as of January 1, 2020. Allowance for Finance Receivable Losses We establish the allowance for finance receivable losses through the provision for finance receivable losses. We evaluate our finance receivable portfolio by level of contractual delinquency in the portfolio, specifically in the late stage delinquency buckets and inclusive of the migration of the loans through the delinquency buckets. Our finance receivables consist of a large number of relatively small, homogeneous accounts. We evaluate our finance receivables for impairment as pools. None of our accounts are large enough to warrant individual evaluation for impairment. We estimate the allowance for finance receivable losses primarily on historical loss experience using a cumulative loss model applied to our finance receivable portfolios. Our gross credit loss expectation is offset by the estimate of future recoveries using historical recovery curves. Our finance receivables are primarily segmented in the loss model by contractual delinquency status. Other attributes in the model include collateral mix and recent credit score. To estimate the gross credit losses, the model utilizes a roll rate matrix to project the first 12 months of losses and historical cohort performance to project the expected losses over the remaining term. Our methodology relies solely on historical loss experience to forecast the corresponding future outcomes. These patterns are then applied to the current portfolio to obtain an estimate of future losses. We also consider key economic trends including unemployment rates and bankruptcy filings. Forecasted macroeconomic conditions extend to our reasonable and supportable forecast period and revert to a historical average. No new volume is assumed. Renewals are a significant piece of our new volume and are considered a terminal event of the previous loan. We have elected not to measure an allowance on accrued finance charges as it is our policy to reverse finance charge amounts previously accrued after four contractual payments become past due. Management exercises its judgment when determining the amount of allowance for finance receivable losses. Our judgment is based on quantitative analyses, qualitative factors, such as recent portfolio, industry, and other economic trends, and experience in the consumer finance industry. We adjust the amounts determined by our model for management’s estimate of the effects of model imprecision which include but are not limited to, any changes to underwriting criteria and portfolio seasoning. Impairments on Investment Securities: Available-for-sale. We evaluate our available-for-sale securities on an individual basis to identify any instances where the fair value of the investment security is below its amortized cost. For these securities, we then evaluate whether an impairment exists if any of the following conditions are present: • we intend to sell the security; • it is more likely than not that we will be required to sell the security before recovery of its amortized cost basis; or • we do not expect to recover the security’s entire amortized cost basis (even if we do not intend to sell the security). If we intend to sell an impaired investment security or we will likely be required to sell the security before recovery of its amortized cost basis less any current period credit loss, we recognize the impairment as a direct write-down in investment revenues equal to the difference between the investment security’s amortized cost and its fair value at the balance sheet date. Once the impairment is recorded, we adjust the investment security to a new amortized cost basis equal to the previous amortized cost basis less the impairment write-down recognized in the current period. In determining whether a credit loss exists, we compare our best estimate of the present value of the cash flows expected to be collected from the security to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis of the security, a credit loss exists and an allowance for credit losses is recorded, not to exceed the total unrealized loss on the security. The cash flows expected to be collected are determined by assessing all available information, including issuer default rate, ratings changes and adverse conditions related to the industry sector, financial condition of issuer, credit enhancements, collateral default rates, and other relevant criteria. Management considers factors such as our investment strategy, liquidity requirements, overall business plans, and recovery periods for securities in previous periods of broad market declines. If a credit loss exists with respect to an investment in a security (i.e., we do not expect to recover the entire amortized cost basis of the security), we would be unable to assert that we will recover our amortized cost basis even if we do not intend to sell the security. Therefore, in these situations, a credit impairment is considered to have occurred. If a credit impairment exists, but we do not intend to sell the security and we will likely not be required to sell the security before recovery of its amortized cost basis less any current period credit loss, the impairment is bifurcated as: (i) the estimated amount relating to credit loss; and (ii) the amount relating to non-credit related factors. We recognize the estimated credit loss as an allowance on the balance sheet in investment securities, with a corresponding loss in investment revenues, and the non-credit loss amount in accumulated other comprehensive income or loss. For investment securities in which a credit impairment was recorded through an allowance, we record subsequent increases and decreases in the allowance for credit losses as credit loss expense or reversal of credit loss expense in investment revenues. We will not reverse a previously recorded allowance to an amount below zero. We recognize subsequent increases and decreases in the fair value of our available-for-sale securities from non-credit related factors in accumulated other comprehensive income or loss. Interest receivables on our investment securities are excluded from the amortized cost and fair value and are recorded in “Other assets.” We have elected not to measure an allowance on interest receivables due to our policy to reverse interest receivable at the time collectability is uncertain. The reversal of interest receivable is recorded in investment revenue. See Notes 4, 5, and 7 for additional information on the adoption of ASU 2016-13. ACCOUNTING PRONOUNCEMENTS TO BE ADOPTED Insurance In August of 2018, the FASB issued ASU 2018-12, Financial Services - Insurance: Targeted Improvements to the Accounting for Long-Duration Contracts , which provides targeted improvements to Topic 944 for the assumptions used to measure the liability for future policy benefits for nonparticipating traditional and limited-payment contracts; measurement of market risk benefits; amortization of deferred acquisition costs; and enhanced disclosures. The amendments in this ASU become effective for us beginning January 1, 2022, as a result of the FASB issuing a one-year deferral of this ASU for public companies. We have a cross-functional implementation team and a project plan to ensure we comply with all the amendments in this ASU at the time of adoption. We continue to make progress in evaluating the potential impact of the adoption of the ASU on our consolidated financial statements. We do not believe that any other accounting pronouncements issued, but not yet effective, would have a material impact on our consolidated financial statements or disclosures, if adopted.
Allowance for Finance Receivable Losses	Allowance for Finance Receivable Losses We establish the allowance for finance receivable losses through the provision for finance receivable losses. We evaluate our finance receivable portfolio by level of contractual delinquency in the portfolio, specifically in the late stage delinquency buckets and inclusive of the migration of the loans through the delinquency buckets. Our finance receivables consist of a large number of relatively small, homogeneous accounts. We evaluate our finance receivables for impairment as pools. None of our accounts are large enough to warrant individual evaluation for impairment. We estimate the allowance for finance receivable losses primarily on historical loss experience using a cumulative loss model applied to our finance receivable portfolios. Our gross credit loss expectation is offset by the estimate of future recoveries using historical recovery curves. Our finance receivables are primarily segmented in the loss model by contractual delinquency status. Other attributes in the model include collateral mix and recent credit score. To estimate the gross credit losses, the model utilizes a roll rate matrix to project the first 12 months of losses and historical cohort performance to project the expected losses over the remaining term. Our methodology relies solely on historical loss experience to forecast the corresponding future outcomes. These patterns are then applied to the current portfolio to obtain an estimate of future losses. We also consider key economic trends including unemployment rates and bankruptcy filings. Forecasted macroeconomic conditions extend to our reasonable and supportable forecast period and revert to a historical average. No new volume is assumed. Renewals are a significant piece of our new volume and are considered a terminal event of the previous loan. We have elected not to measure an allowance on accrued finance charges as it is our policy to reverse finance charge amounts previously accrued after four contractual payments become past due. Management exercises its judgment when determining the amount of allowance for finance receivable losses. Our judgment is based on quantitative analyses, qualitative factors, such as recent portfolio, industry, and other economic trends, and experience in the consumer finance industry. We adjust the amounts determined by our model for management’s estimate of the effects of model imprecision which include but are not limited to, any changes to underwriting criteria and portfolio seasoning.
Impairments on Investment Securities: Available-for-sale	Impairments on Investment Securities: Available-for-sale. We evaluate our available-for-sale securities on an individual basis to identify any instances where the fair value of the investment security is below its amortized cost. For these securities, we then evaluate whether an impairment exists if any of the following conditions are present: • we intend to sell the security; • it is more likely than not that we will be required to sell the security before recovery of its amortized cost basis; or • we do not expect to recover the security’s entire amortized cost basis (even if we do not intend to sell the security). If we intend to sell an impaired investment security or we will likely be required to sell the security before recovery of its amortized cost basis less any current period credit loss, we recognize the impairment as a direct write-down in investment revenues equal to the difference between the investment security’s amortized cost and its fair value at the balance sheet date. Once the impairment is recorded, we adjust the investment security to a new amortized cost basis equal to the previous amortized cost basis less the impairment write-down recognized in the current period. In determining whether a credit loss exists, we compare our best estimate of the present value of the cash flows expected to be collected from the security to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis of the security, a credit loss exists and an allowance for credit losses is recorded, not to exceed the total unrealized loss on the security. The cash flows expected to be collected are determined by assessing all available information, including issuer default rate, ratings changes and adverse conditions related to the industry sector, financial condition of issuer, credit enhancements, collateral default rates, and other relevant criteria. Management considers factors such as our investment strategy, liquidity requirements, overall business plans, and recovery periods for securities in previous periods of broad market declines. If a credit loss exists with respect to an investment in a security (i.e., we do not expect to recover the entire amortized cost basis of the security), we would be unable to assert that we will recover our amortized cost basis even if we do not intend to sell the security. Therefore, in these situations, a credit impairment is considered to have occurred. If a credit impairment exists, but we do not intend to sell the security and we will likely not be required to sell the security before recovery of its amortized cost basis less any current period credit loss, the impairment is bifurcated as: (i) the estimated amount relating to credit loss; and (ii) the amount relating to non-credit related factors. We recognize the estimated credit loss as an allowance on the balance sheet in investment securities, with a corresponding loss in investment revenues, and the non-credit loss amount in accumulated other comprehensive income or loss. For investment securities in which a credit impairment was recorded through an allowance, we record subsequent increases and decreases in the allowance for credit losses as credit loss expense or reversal of credit loss expense in investment revenues. We will not reverse a previously recorded allowance to an amount below zero. We recognize subsequent increases and decreases in the fair value of our available-for-sale securities from non-credit related factors in accumulated other comprehensive income or loss.

Reconciliation of Springleaf _2

Reconciliation of Springleaf Finance Corporation Results to OneMain Holdings, Inc. Results (Tables)	3 Months Ended
	Mar. 31, 2020
Business Combinations [Abstract]
Reconciliation of consolidated balance sheets and results of consolidated statements of operations of SFC to OMH	In addition to certain intercompany payable and receivable amounts between the entities, the following is a reconciliation of the condensed consolidated balance sheets and results of our condensed consolidated statements of operations of SFC to OMH: March 31, 2020 December 31, 2019 (dollars in millions) OMH SFC Difference OMH SFC Difference Other assets $ 1,069 $ 1,068 $ 1 $ 769 $ 768 $ 1 Deferred and accrued taxes 68 69 (1) 34 35 (1) Other liabilities 497 500 (3) 592 595 (3) Total shareholders' equity (a) 3,052 3,047 5 4,330 4,325 5 Three Months Ended March 31, 2020 2019 (dollars in millions) OMH SFC Difference OMH SFC Difference Other revenues (b) $ 15 $ 15 $ — $ 30 $ 34 $ (4) Other operating expenses 151 151 — 136 137 (1) Income before income taxes 43 43 — 202 205 (3) Income taxes 11 11 — 50 49 1 Net Income 32 32 — 152 156 (4) (a) The differences between total shareholders’ equity in the periods ended March 31, 2020 and December 31, 2019 were due to historical differences in results of operations of the companies and differences in equity awards. (b) Other revenues include the interest income on notes receivables from parent, which were notes from SFI held by SFC and Springleaf Mortgage Holding Company and subsidiaries (“SMHC”), a wholly-owned direct subsidiary of SFC. See Note 1 and below for further discussion of the merger between SFI and SFC.

Finance Receivables (Tables)

Finance Receivables (Tables)	3 Months Ended
	Mar. 31, 2020
Receivables [Abstract]
Schedule of components of net finance receivables by type	Components of our personal loans were as follows: (dollars in millions) March 31, 2020 December 31, 2019 Gross receivables * $ 18,080 $ 18,195 Unearned points and fees (238) (242) Accrued finance charges 280 289 Deferred origination costs 147 147 Total $ 18,269 $ 18,389 * Gross receivables equal the unpaid principal balance (“UPB”) except for the following: • Finance receivables purchased as a performing receivable — gross receivables are equal to UPB and, if applicable, any remaining unearned premium or discount established at the time of purchase to reflect the finance receivable balance at its initial fair value; • Purchased credit impaired finance receivables — gross receivables equal the remaining estimated cash flows less the current balance of accretable yield on the purchased credit impaired accounts established prior to the adoption of ASU 2016-13; and • Purchased credit deteriorated finance receivables — gross receivables equal the UPB and any remaining unearned discount established at the time of the adoption of ASU 2016-13 on January 1, 2020.
Summary of net finance receivables by type and by days delinquent	The following is a summary of our personal loans held for investment by the year of origination and number of days delinquent, our key credit quality indicator, at March 31, 2020: (dollars in millions) 2020 2019 2018 2017 2016 Prior Total Performing Current $ 2,515 $ 9,465 $ 3,541 $ 1,298 $ 431 $ 213 $ 17,463 30-59 days past due 3 127 66 29 12 8 245 60-89 days past due — 88 48 19 7 5 167 Total performing 2,518 9,680 3,655 1,346 450 226 17,875 Nonperforming (Nonaccrual) 90-179 days past due — 173 131 50 18 13 385 180 days or more past due — 3 4 2 — — 9 Total nonperforming — 176 135 52 18 13 394 Total $ 2,518 $ 9,856 $ 3,790 $ 1,398 $ 468 $ 239 $ 18,269 The following is a summary of our personal loans held for investment by number of days delinquent at December 31, 2019, which is prior to the adoption of ASU 2016-13 on January 1, 2020 and continue to be reported under ASC 310, Receivables : (dollars in millions) Total Performing Current $ 17,550 30-59 days past due 272 60-89 days past due 181 Total performing 18,003 Nonperforming 90-179 days past due 377 180 days or more past due 9 Total nonperforming 386 Total $ 18,389
Schedule of purchased credit impaired finance receivables held for investment	Information regarding purchased credit impaired finance receivables were as follows: (dollars in millions) December 31, 2019 Personal Loans Carrying amount, net of allowance $ 40 Outstanding balance (a) 74 Allowance for purchased credit impaired finance receivable losses (b) — Real Estate Loans - Held for Sale Carrying amount $ 19 Outstanding balance (a) 35 (a) Outstanding balance is defined as the UPB of the loans with a net carrying amount.
Changes in accretable yield for purchased credit impaired finance receivables held for investment and held for sale	Changes in accretable yield for purchased credit impaired finance receivables were as follows: (dollars in millions) Three Months Ended March 31, 2019 Personal Loans Balance at beginning of period $ 39 Accretion (5) Balance at end of period $ 34 Real Estate Loans - Held for Sale Balance at beginning of period $ 27 Accretion (1) Transfer due to finance receivables sold (3) Balance at end of period $ 23
Schedule of information regarding TDR finance receivables	Information regarding TDR finance receivables were as follows: (dollars in millions) March 31, 2020 December 31, 2019 Personal Loans TDR gross receivables (a) $ 686 $ 655 TDR net receivables (b) 688 658 Allowance for TDR finance receivable losses 302 272 Real Estate Loans - Held for Sale TDR gross receivables (a) $ 50 $ 52 TDR net receivables (b) 51 53 (a) TDR gross receivables — gross receivables are equal to UPB and, if applicable, any remaining unearned premium or discount established at the time of purchase if previously purchased as a performing receivable. (b) TDR net receivables — TDR gross receivables net of unearned points and fees, accrued finance charges, and deferred origination costs.
TDR average net receivables held for investment and held for sale and finance charges recognized on TDR finance receivables held for investment and held for sale	TDR average net receivables and finance charges recognized on TDR finance receivables for our personal loans that are held for investment and our real estate loans that are held for sale were as follows: (dollars in millions) Personal Real Estate Loans Total Three Months Ended March 31, 2020 TDR average net receivables $ 676 $ 52 $ 728 TDR finance charges recognized 12 1 13 Three Months Ended March 31, 2019 TDR average net receivables $ 477 $ 64 $ 541 TDR finance charges recognized 12 1 13
Schedule of new volume of the TDR finance receivables held for investment and held for sale	Information regarding the new volume of the TDR finance receivables held for investment were as follows: Three Months Ended March 31, (dollars in millions) 2020 2019 Personal Loans Pre-modification TDR net finance receivables $ 158 $ 120 Post-modification TDR net finance receivables: Rate reduction 100 85 Other * 58 35 Total post-modification TDR net finance receivables $ 158 $ 120 Number of TDR accounts 21,818 18,506 * “Other” modifications primarily include potential principal and interest forgiveness contingent on future payment performance by the borrower under the modified terms.
Net finance receivables that were modified as TDR finance receivables defaulted within the previous 12 months nonperforming	Personal loans held for investment that were modified as TDR finance receivables within the previous 12 months and for which there was a default during the period to cause the TDR finance receivables to be considered nonperforming (90 days or more past due) are reflected in the following table. Three Months Ended March 31, (dollars in millions) 2020 2019 Personal Loans TDR net finance receivables * $ 31 $ 19 Number of TDR accounts 4,552 2,925 * Represents the corresponding balance of TDR net finance receivables at the end of the month in which they defaulted.

Allowance for Finance Receiva_2

Allowance for Finance Receivable Losses (Tables)	3 Months Ended
	Mar. 31, 2020
Receivables [Abstract]
Schedule of changes in the allowance for finance receivable losses by finance receivable type	Changes in the allowance for finance receivable losses were as follows: Three Months Ended March 31, (dollars in millions) 2020 2019 Personal Loans Balance at beginning of period $ 829 $ 731 Impact of adoption of ASU 2016-13 * 1,118 — Provision for finance receivable losses 531 286 Charge-offs (337) (311) Recoveries 41 27 Balance at end of period $ 2,182 $ 733 * As a result of the adoption of ASU 2016-13 on January 1, 2020, we recorded a one-time adjustment to the allowance for finance receivable losses. See Notes 3 and 4
Schedule of allowance for finance receivable losses and net finance receivables by type and by impairment method	The allowance for finance receivable losses and net finance receivables by impairment method were as follows: (dollars in millions) March 31, 2020 December 31, 2019 Allowance for finance receivable losses: Collectively evaluated for impairment $ 1,880 $ 557 Purchased credit impaired finance receivables * — — TDR finance receivables 302 272 Total $ 2,182 $ 829 Finance receivables: Collectively evaluated for impairment $ 17,581 $ 17,691 Purchased credit impaired finance receivables * — 40 TDR finance receivables 688 658 Total $ 18,269 $ 18,389 Allowance for finance receivable losses as a percentage of finance receivables 11.95 % 4.51 % * As a result of the adoption of ASU 2016-13 on January 1, 2020, the accounting for purchased credit impaired finance receivables was superseded with purchase credit deteriorated finance receivables which are collectively evaluated for impairment. See Notes 3 and 4 for additional information on the adoption of ASU 2016-3.

Investment Securities (Tables)

Investment Securities (Tables)	3 Months Ended
	Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Schedule of the cost/amortized cost, unrealized gains and losses, and fair value of available-for-sale securities by type	Cost/amortized cost, allowance for credit losses, unrealized gains and losses, and fair value of fixed maturity available-for-sale securities by type were as follows: (dollars in millions) Cost/ Unrealized Unrealized Fair March 31, 2020* Fixed maturity available-for-sale securities: U.S. government and government sponsored entities $ 11 $ — $ — $ 11 Obligations of states, municipalities, and political subdivisions 88 1 — 89 Commercial paper 76 — — 76 Non-U.S. government and government sponsored entities 136 4 (1) 139 Corporate debt 1,061 25 (31) 1,055 Mortgage-backed, asset-backed, and collateralized: RMBS 212 8 (3) 217 CMBS 64 1 (2) 63 CDO/ABS 87 1 (6) 82 Total $ 1,735 $ 40 $ (43) $ 1,732 * There was no allowance for credit losses related to our investment securities as of March 31, 2020. (dollars in millions) Cost/ Unrealized Unrealized Fair December 31, 2019* Fixed maturity available-for-sale securities: U.S. government and government sponsored entities $ 11 $ — $ — $ 11 Obligations of states, municipalities, and political subdivisions 91 2 (1) 92 Commercial paper 91 — — 91 Non-U.S. government and government sponsored entities 144 3 — 147 Corporate debt 1,054 45 (1) 1,098 Mortgage-backed, asset-backed, and collateralized: RMBS 214 3 — 217 CMBS 56 1 — 57 CDO/ABS 84 1 — 85 Total $ 1,745 $ 55 $ (2) $ 1,798 * The balances reported as of December 31, 2019 are not subject to the adoption of ASU 2016-13 on January 1, 2020 and continue to be reported under ASC 320, Investments – Debt and Equity Securities . As of March 31, 2020, interest receivables reported in “Other assets” totaled $13 million, and no amounts were reversed from investment revenue for available-for-sale securities.
Schedule of fair value and unrealized losses on investment securities by type and length of time in a continuous unrealized loss position	Fair value and unrealized losses on available-for-sale securities by type and length of time in a continuous unrealized loss position without an allowance for credit losses were as follows: Less Than 12 Months 12 Months or Longer Total (dollars in millions) Fair Unrealized Fair Unrealized Fair Unrealized March 31, 2020 Obligations of states, municipalities, and political subdivisions $ 20 $ — $ — $ — $ 20 $ — Commercial paper 45 — — — 45 — Non-U.S. government and government sponsored entities 17 (1) — — 17 (1) Corporate debt 434 (31) 3 — 437 (31) Mortgage-backed, asset-backed, and collateralized: RMBS 53 (3) — — 53 (3) CMBS 31 (2) 3 — 34 (2) CDO/ABS 57 (6) — — 57 (6) Total $ 657 $ (43) $ 6 $ — $ 663 $ (43) December 31, 2019* U.S. government and government sponsored entities $ — $ — $ 3 $ — $ 3 $ — Obligations of states, municipalities, and political subdivisions 29 (1) 4 — 33 (1) Commercial paper 76 — — — 76 — Non-U.S. government and government sponsored entities 19 — 14 — 33 — Corporate debt 63 (1) 13 — 76 (1) Mortgage-backed, asset-backed, and collateralized: RMBS 45 — — — 45 — CMBS 15 — 7 — 22 — CDO/ABS 14 — — — 14 — Total $ 261 $ (2) $ 41 $ — $ 302 $ (2) * The balances reported as of December 31, 2019 are not subject to the adoption of ASU 2016-13 on January 1, 2020 and continue to be reported under ASC 320, Investments – Debt and Equity Securities .
Schedule of contractual maturities of fixed-maturity available-for-sale securities	Contractual maturities of fixed-maturity available-for-sale securities at March 31, 2020 were as follows: (dollars in millions) Fair Amortized Fixed maturities, excluding mortgage-backed, asset-backed, and collateralized securities: Due in 1 year or less $ 190 $ 190 Due after 1 year through 5 years 550 551 Due after 5 years through 10 years 473 474 Due after 10 years 157 157 Mortgage-backed, asset-backed, and collateralized securities 362 363 Total $ 1,732 $ 1,735
Schedule of fair value of other securities by type	The fair value of other securities by type was as follows: (dollars in millions) March 31, 2020 December 31, 2019 Fixed maturity other securities: Bonds Non-U.S. government and government sponsored entities $ 1 $ 1 Corporate debt 18 24 Mortgage-backed, asset-backed, and collateralized bonds 14 15 Total bonds 33 40 Preferred stock * 15 19 Common stock * 19 26 Other long-term investments 1 1 Total $ 68 $ 86 * We employ an income equity strategy targeting investments in stocks with strong current dividend yields. Stocks included have a history of stable or increasing dividend payments.

Long-term Debt (Tables)

Long-term Debt (Tables)	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Schedule of principal maturities of long-term debt	Principal maturities of long-term debt (excluding projected repayments on securitizations and revolving conduit facilities by period) by type of debt at March 31, 2020 were as follows: Senior Debt (dollars in millions) Securitizations Revolving Unsecured Junior Total Interest rates (b) 1.50%-6.94% 1.51%-3.24% 5.38%-8.25% 3.58 % Remainder of 2020 $ — $ — $ 1,000 $ — $ 1,000 2021 — — 646 — 646 2022 — — 1,000 — 1,000 2023 — — 1,175 — 1,175 2024 — — 1,300 — 1,300 2025-2067 — — 4,399 350 4,749 Securitizations (c) 7,396 — — — 7,396 Revolving conduit facilities (c) — 3,500 — — 3,500 Total principal maturities $ 7,396 $ 3,500 $ 9,520 $ 350 $ 20,766 Total carrying amount $ 7,364 $ 3,500 $ 9,407 $ 172 $ 20,443 Debt issuance costs (d) (27) — (81) — (108) (a) Pursuant to the SFC Base Indenture, the SFC supplemental indentures and the SFC Guaranty Agreements, OMH agreed to fully and unconditionally guarantee, on a senior unsecured basis, payments of principal, premium and interest on the SFC Unsecured Senior Notes and Junior Subordinated Debenture. The OMH guarantees of SFC’s long-term debt are subject to customary release provisions. (b) The interest rates shown are the range of contractual rates in effect at March 31, 2020. (c) Securitizations and borrowings under revolving conduit facilities are not included in the above maturities by period due to their variable monthly repayments, which may result in pay-off prior to the stated maturity date. At March 31, 2020, an aggregate of $3.5 billion was drawn under our revolving conduit facilities. See Note 9 for further information on our long-term debt associated with securitizations and revolving conduit facilities. (d) Debt issuance costs are reported as a direct deduction from long-term debt, with the exception of debt issuance costs associated with our revolving conduit facilities, which totaled $31 million at March 31, 2020 and are reported in “Other assets.”

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Carrying amounts of consolidated VIE assets and liabilities	The carrying amounts of consolidated VIE assets and liabilities associated with our securitization trusts and revolving conduit facilities were as follows: (dollars in millions) March 31, 2020 December 31, 2019 Assets Cash and cash equivalents $ 2 $ 4 Finance receivables - Personal loans 12,083 8,428 Allowance for finance receivable losses 1,392 340 Restricted cash and restricted cash equivalents 567 400 Other assets 31 29 Liabilities Long-term debt $ 10,864 $ 7,643 Other liabilities 17 15

Insurance (Tables)

Insurance (Tables)	3 Months Ended
	Mar. 31, 2020
Insurance [Abstract]
Changes in the reserve for unpaid claims and loss adjustment expenses	Changes in the reserve for unpaid claims and loss adjustment expenses (not considering reinsurance recoverable): At or for the Three Months Ended March 31, (dollars in millions) 2020 2019 Balance at beginning of period $ 117 $ 117 Less reinsurance recoverables (4) (4) Net balance at beginning of period 113 113 Additions for losses and loss adjustment expenses incurred to: Current year 77 54 Prior years * (9) (7) Total 68 47 Reductions for losses and loss adjustment expenses paid related to: Current year (17) (17) Prior years (30) (33) Total (47) (50) Foreign currency translation adjustment (1) — Net balance at end of period 133 110 Plus reinsurance recoverables 3 4 Balance at end of period $ 136 $ 114

Capital Stock and Earnings Pe_2

Capital Stock and Earnings Per Share (OMH Only) (Tables)	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Schedule of changes in shares issued and outstanding	Changes in OMH shares of common stock issued and outstanding were as follows: Three Months Ended March 31, 2020 2019 Balance at beginning of period 136,101,156 135,832,278 Common shares issued 240,249 250,185 Common shares retired (2,031,698) — Balance at end of period 134,309,707 136,082,463
Computation of earnings per share	The computation of earnings per share was as follows: (dollars in millions, except per share data) Three Months Ended March 31, 2020 2019 Numerator (basic and diluted): Net income $ 32 $ 152 Denominator: Weighted average number of shares outstanding (basic) 135,909,100 136,001,996 Effect of dilutive securities * 229,577 189,287 Weighted average number of shares outstanding (diluted) 136,138,677 136,191,283 Earnings per share: Basic $ 0.24 $ 1.12 Diluted $ 0.24 $ 1.11

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Changes, net of tax, in accumulated other comprehensive income (loss)	Changes, net of tax, in accumulated other comprehensive income (loss) were as follows: (dollars in millions) Unrealized Retirement Foreign Total Three Months Ended March 31, 2020 Balance at beginning of period $ 41 $ 3 $ — $ 44 Other comprehensive (loss) before reclassifications (42) — (8) (50) Balance at end of period $ (1) $ 3 $ (8) $ (6) Three Months Ended March 31, 2019 Balance at beginning of period $ (28) $ (3) $ (3) $ (34) Other comprehensive income before reclassifications 30 — 2 32 Balance at end of period $ 2 $ (3) $ (1) $ (2) * There were no amounts related to available-for-sale debt securities for which an allowance for credit losses was recorded during the three months ended March 31, 2020.

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Information about the Company's segments	The following tables present information about C&I and Other, as well as reconciliations to the consolidated financial statement amounts. (dollars in millions) Consumer Other Segment to Consolidated At or for the Three Months Ended March 31, 2020 Interest income $ 1,101 $ 2 $ 3 $ 1,106 Interest expense 249 1 5 255 Provision for finance receivable losses 530 — 1 531 Net interest income after provision for finance receivable losses 322 1 (3) 320 Other revenues 136 4 1 141 Other expenses 407 6 5 418 Income (loss) before income tax expense (benefit) $ 51 $ (1) $ (7) $ 43 Assets $ 22,570 $ 72 $ 2,051 $ 24,693 At or for the Three Months Ended March 31, 2019 Interest income $ 954 $ 3 $ (1) $ 956 Interest expense 229 2 5 236 Provision for finance receivable losses 276 — 10 286 Net interest income after provision for finance receivable losses 449 1 (16) 434 Other revenues * 146 8 (6) 148 Other expenses 363 12 5 380 Income (loss) before income tax expense (benefit) $ 232 $ (3) $ (27) $ 202 Assets $ 19,197 $ 95 $ 2,066 $ 21,358 * Other revenues in Other includes the gain on the February 2019 Real Estate Loan Sale as well as the impairment adjustments on the remaining loans in held for sale in 2019.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of fair values and carrying values of financial instruments and fair value hierarchy based on the level of inputs utilized to determine such fair value	The following table presents the carrying amounts and estimated fair values of our financial instruments and indicates the level in the fair value hierarchy of the estimated fair value measurement based on the observability of the inputs used: Fair Value Measurements Using Total Total (dollars in millions) Level 1 Level 2 Level 3 March 31, 2020 Assets Cash and cash equivalents $ 4,185 $ 18 $ — $ 4,203 $ 4,203 Investment securities 35 1,763 2 1,800 1,800 Net finance receivables, less allowance for finance receivable losses — — 18,369 18,369 16,087 Restricted cash and restricted cash equivalents 575 — — 575 575 Other assets * — — 70 70 69 Liabilities Long-term debt $ — $ 19,980 $ — $ 19,980 $ 20,443 December 31, 2019 Assets Cash and cash equivalents $ 1,159 $ 68 $ — $ 1,227 $ 1,227 Investment securities 45 1,835 4 1,884 1,884 Net finance receivables, less allowance for finance receivable losses — — 19,319 19,319 17,560 Restricted cash and restricted cash equivalents 405 — — 405 405 Other assets * — — 84 84 74 Liabilities Long-term debt $ — $ 18,509 $ — $ 18,509 $ 17,212 * Other assets at March 31, 2020 and December 31, 2019 includes finance receivables held for sale and miscellaneous receivables related to our liquidating loan portfolios.
Schedule of assets and liabilities measured at fair value on a recurring basis	The following tables present information about our assets measured at fair value on a recurring basis and indicates the fair value hierarchy based on the levels of inputs we utilized to determine such fair value: Fair Value Measurements Using Total Carried At Fair Value (dollars in millions) Level 1 Level 2 Level 3 March 31, 2020 Assets Cash equivalents in mutual funds $ 3,951 $ — $ — $ 3,951 Cash equivalents in securities — 18 — 18 Investment securities: Available-for-sale securities U.S. government and government sponsored entities — 11 — 11 Obligations of states, municipalities, and political subdivisions — 89 — 89 Commercial paper — 76 — 76 Non-U.S. government and government sponsored entities — 139 — 139 Corporate debt 4 1,051 — 1,055 RMBS — 217 — 217 CMBS — 63 — 63 CDO/ABS — 81 1 82 Total available-for-sale securities 4 1,727 1 1,732 Other securities Bonds: Non-U.S. government and government sponsored entities — 1 — 1 Corporate debt — 18 — 18 RMBS — 1 — 1 CDO/ABS — 13 — 13 Total bonds — 33 — 33 Preferred stock 12 3 — 15 Common stock 19 — — 19 Other long-term investments — — 1 1 Total other securities 31 36 1 68 Total investment securities 35 1,763 2 1,800 Restricted cash in mutual funds 573 — — 573 Total $ 4,559 $ 1,781 $ 2 $ 6,342 Fair Value Measurements Using Total Carried At Fair Value (dollars in millions) Level 1 Level 2 Level 3 December 31, 2019 Assets Cash equivalents in mutual funds $ 775 $ — $ — $ 775 Cash equivalents in securities — 68 — 68 Investment securities: Available-for-sale securities U.S. government and government sponsored entities — 11 — 11 Obligations of states, municipalities, and political subdivisions — 92 — 92 Certificates of deposit and commercial paper — 91 — 91 Non-U.S. government and government sponsored entities — 147 — 147 Corporate debt 5 1,093 — 1,098 RMBS — 217 — 217 CMBS — 57 — 57 CDO/ABS — 85 — 85 Total available-for-sale securities 5 1,793 — 1,798 Other securities Bonds: Non-U.S. government and government sponsored entities — 1 — 1 Corporate debt — 23 1 24 RMBS — 1 — 1 CDO/ABS — 12 2 14 Total bonds — 37 3 40 Preferred stock 14 5 — 19 Common stock 26 — — 26 Other long-term investments — — 1 1 Total other securities 40 42 4 86 Total investment securities 45 1,835 4 1,884 Restricted cash in mutual funds 403 — — 403 Total $ 1,223 $ 1,903 $ 4 $ 3,130

Business and Basis of Present_2

Business and Basis of Presentation (Details)	Mar. 31, 2020
Majority Shareholder
Schedule of Equity Method Investments [Line Items]
Ownership percentage by Initial Stockholder	40.90%

Reconciliation of Springleaf _3

Reconciliation of Springleaf Finance Corporation Results to OneMain Holdings, Inc. Results - Reconciliation of SFC to OMH (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Consolidated Balance Sheets
Other assets	$ 1,069		$ 769
Deferred and accrued taxes	68		34
Other liabilities	497		592
Total shareholders' equity	3,052	$ 3,950	4,330	$ 3,799
Consolidated Statements of Operations
Other revenue	15	30
Other operating expenses	151	136
Income before income taxes	43	202
Income taxes	11	50
Net income	32	152
SFC
Consolidated Balance Sheets
Other assets	1,068		768
Deferred and accrued taxes	69		35
Other liabilities	500		595
Total shareholders' equity	3,047	4,210	4,325	$ 4,021
Consolidated Statements of Operations
Other revenue	15	34
Other operating expenses	151	137
Income before income taxes	43	205
Income taxes	11	49
Net income	32	156
Difference
Consolidated Balance Sheets
Other assets	1		1
Deferred and accrued taxes	(1)		(1)
Other liabilities	(3)		(3)
Total shareholders' equity	5		$ 5
Consolidated Statements of Operations
Other revenue	0	(4)
Other operating expenses	0	(1)
Income before income taxes	0	(3)
Income taxes	0	1
Net income	$ 0	$ (4)

Reconciliation of Springleaf _4

Reconciliation of Springleaf Finance Corporation Results to OneMain Holdings, Inc. Results - Additional Information (Details) - Affiliated Entity - USD ($) $ in Millions	Sep. 23, 2019	Jul. 01, 2019	Jan. 01, 2019	Sep. 23, 2019	Mar. 31, 2019
SFC
Business Acquisition [Line Items]
Equity reduction		$ 408		$ 264
Accrued interest	$ 22	166		$ 22
Equity contribution	$ 144
Increase to total shareholders' equity resulting from contribution			$ 34
Increase to total assets resulting from contribution			$ 53
SFI | SFC
Business Acquisition [Line Items]
Notes receivable from parent		232
Interest income on notes receivable					$ 4
SFI | SMHC
Business Acquisition [Line Items]
Notes receivable from parent		$ 28

Recent Accounting Pronounceme_3

Recent Accounting Pronouncements (Details) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)payment	Jan. 01, 2020USD ($)	Dec. 31, 2019USD ($)		Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for finance receivable losses	$ 2,182		$ 829
Retained earnings	$ 3,052		4,330		$ 3,950	$ 3,799
Number of consecutive payments missed to reverse finance charges | payment	4
One-time cumulative effect
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for finance receivable losses		$ 1,120
Deferred tax assets		280
Retained earnings			(828)
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings	$ 1,412		2,596		$ 2,269	$ 2,151
Retained Earnings | One-time cumulative effect
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings		$ (830)	$ (828)	[1]
[1]	Cash dividends declared were $2.83 per share in the first quarter of 2020 and $0.25 per share in the first quarter of 2019.

Finance Receivables - Additiona

Finance Receivables - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Jan. 01, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net finance receivables	$ 18,269		$ 18,389
Finance receivables held for sale	$ 61		$ 64
ASU 2016-13 | Purchased credit impaired finance receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net finance receivables		$ 15
Allowance for finance receivable losses		$ 15
Unlikely to be Collected Financing Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Threshold period past due	60 days
Nonperforming
Accounts, Notes, Loans and Financing Receivable [Line Items]
Threshold period past due	90 days
Reversal of net accrued finance charges	$ 28
Finance charges recognized from the contractual interest portion of payments received on nonaccrual finance receivables	4
Finance receivable - Personal loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net finance receivables	$ 18,269
Finance receivable - Personal loan | Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables, original term	3 years
Finance receivable - Personal loan | Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables, original term	6 years

Finance Receivables - Net Finan

Finance Receivables - Net Finance Receivables by Type (Details) - Finance receivable - Personal loan - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Financing receivable general information
Gross receivables	$ 18,080	$ 18,195
Unearned points and fees	(238)	(242)
Accrued finance charges	280	289
Deferred origination costs	147	147
Total	$ 18,269	$ 18,389

Finance Receivables - Delinquen

Finance Receivables - Delinquent and Nonperforming Finance Receivables (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Delinquency by finance receivables type
Net finance receivables	$ 18,269	$ 18,389
Finance receivable - Personal loan
Delinquency by finance receivables type
2020	2,518
2019	9,856
2018	3,790
2017	1,398
2016	468
Prior	239
Net finance receivables	18,269
Net finance receivables	18,269	18,389
Finance receivable - Personal loan | Performing
Delinquency by finance receivables type
2020	2,518
2019	9,680
2018	3,655
2017	1,346
2016	450
Prior	226
Net finance receivables	17,875
Net finance receivables		18,003
Finance receivable - Personal loan | Performing | Current
Delinquency by finance receivables type
2020	2,515
2019	9,465
2018	3,541
2017	1,298
2016	431
Prior	213
Net finance receivables	17,463
Net finance receivables		17,550
Finance receivable - Personal loan | Performing | 30-59 days past due
Delinquency by finance receivables type
2020	3
2019	127
2018	66
2017	29
2016	12
Prior	8
Net finance receivables	245
Net finance receivables		272
Finance receivable - Personal loan | Performing | 60-89 days past due
Delinquency by finance receivables type
2020	0
2019	88
2018	48
2017	19
2016	7
Prior	5
Net finance receivables	167
Net finance receivables		181
Finance receivable - Personal loan | Nonperforming
Delinquency by finance receivables type
2020	0
2019	176
2018	135
2017	52
2016	18
Prior	13
Net finance receivables	394
Net finance receivables		386
Finance receivable - Personal loan | Nonperforming | 90-179 days past due
Delinquency by finance receivables type
2020	0
2019	173
2018	131
2017	50
2016	18
Prior	13
Net finance receivables	385
Net finance receivables		377
Finance receivable - Personal loan | Nonperforming | 180 days or more past due
Delinquency by finance receivables type
2020	0
2019	3
2018	4
2017	2
2016	0
Prior	0
Net finance receivables	$ 9
Net finance receivables		$ 9

Finance Receivables - Purchased

Finance Receivables - Purchased Credit Impaired Finance Receivables HFI (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Real Estate Loans - Held for Sale
Financing Receivable, Impaired [Line Items]
Carrying amount, net of allowance		$ 19
Outstanding balance		35
Finance receivable - Personal loan
Financing Receivable, Impaired [Line Items]
Carrying amount, net of allowance		40
Outstanding balance		74
Allowance for purchased credit impaired finance receivable losses	$ 0	$ 0

Finance Receivables - Changes i

Finance Receivables - Changes in Accretable Yield For Purchased Credit Impaired HFI and HFS (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)
Real Estate Loans - Held for Sale
Changes in accretable yield for purchased credit impaired finance receivables
Balance at beginning of period	$ 27
Accretion	(1)
Transfer due to finance receivables sold	(3)
Balance at end of period	23
Finance receivable - Personal loan
Changes in accretable yield for purchased credit impaired finance receivables
Balance at beginning of period	39
Accretion	(5)
Balance at end of period	$ 34

Finance Receivables - TDR Finan

Finance Receivables - TDR Finance Receivable HFI and HFS (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Real Estate Loans - Held for Sale
Financing Receivable, Troubled Debt Restructuring [Line Items]
TDR gross receivables, held for sale	$ 50	$ 52
TDR net receivables, held for sale	51	53
Finance receivable - Personal loan
Financing Receivable, Troubled Debt Restructuring [Line Items]
TDR gross receivables, personal loans	686	655
TDR net receivables, personal loans	688	658
Allowance for TDR finance receivable losses	$ 302	$ 272

Finance Receivables - TDR Avera

Finance Receivables - TDR Average Net Receivables HFI and HFS and Finance Charges Recognized (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Financing Receivable, Troubled Debt Restructuring [Line Items]
TDR average net receivables	$ 728	$ 541
TDR finance charges recognized	13	13
Personal Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
TDR average net receivables	676	477
TDR finance charges recognized	12	12
Other Receivables
Financing Receivable, Troubled Debt Restructuring [Line Items]
TDR average net receivables	52	64
TDR finance charges recognized	$ 1	$ 1

Finance Receivables - New Volum

Finance Receivables - New Volume of TDR HFI & HFS Finance Receivables (Details) - Personal Loans $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)account	Mar. 31, 2019USD ($)account
Financing Receivable, Troubled Debt Restructuring [Line Items]
Pre-modification TDR net finance receivables	$ 158	$ 120
Total post-modification TDR net finance receivables	$ 158	$ 120
Number of TDR accounts | account	21,818	18,506
Rate reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total post-modification TDR net finance receivables	$ 100	$ 85
Other
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total post-modification TDR net finance receivables	$ 58	$ 35

Finance Receivables - Modified

Finance Receivables - Modified as TDR - Non Performing Finance Receivables (Details) - Personal Loans $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)account	Mar. 31, 2019USD ($)account
Financing Receivable, Troubled Debt Restructuring [Line Items]
TDR net finance receivables | $	$ 31	$ 19
Number of TDR accounts | account	4,552	2,925

Allowance for Finance Receiva_3

Allowance for Finance Receivable Losses - Narrative (Details)	3 Months Ended
	Mar. 31, 2020
Receivables [Abstract]
Finance receivable loss as a percentage of total financing receivables, absent the impact of COVID-19	10.60%
Finance receivable loss as a percentage of total financing receivables, current	11.90%

Allowance for Finance Receiva_4

Allowance for Finance Receivable Losses - Changes in Allowance by Type (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Changes in allowance for finance receivable losses
Balance at beginning of period	$ 829
Provision for finance receivable losses	531	$ 286
Balance at end of period	2,182
Personal Loans
Changes in allowance for finance receivable losses
Balance at beginning of period	829	731
Provision for finance receivable losses	531	286
Charge-offs	(337)	(311)
Recoveries	41	27
Balance at end of period	2,182	$ 733
Personal Loans | Net impact of adoption of ASU 2016-13 (see Note 3)
Changes in allowance for finance receivable losses
Balance at beginning of period	$ 1,118

Allowance for Finance Receiva_5

Allowance for Finance Receivable Losses - By Type and Impairment Method (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Allowance for finance receivable losses:
Total	$ 2,182	$ 829
Finance receivable - Personal loan
Allowance for finance receivable losses:
Collectively evaluated for impairment	1,880	557
Purchased credit impaired finance receivables *	0	0
TDR finance receivables	302	272
Total	2,182	829	$ 733	$ 731
Finance receivables:
Collectively evaluated for impairment	17,581	17,691
Purchase credit impaired finance receivables	18,269	18,389
TDR finance receivables	688	658
Total	$ 18,269	$ 18,389
Allowance for finance receivable losses as a percentage of finance receivables	11.95%	4.51%
Finance receivable - Personal loan | Purchased credit impaired finance receivables
Finance receivables:
Purchase credit impaired finance receivables	$ 0	$ 40
Total	$ 0	$ 40

Finance Receivables Held for _2

Finance Receivables Held for Sale (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Feb. 28, 2019	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables held for sale		$ 61		$ 64
Aggregate cash proceeds from sale of real estate loans		$ 0	$ 19
February 2019 Real Estate Loan Sale | Disposed of by Sale
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value	$ 16
Aggregate cash proceeds from sale of real estate loans	19
Net gain in other revenues	3
Impairment in other revenue	$ 3

Investment Securities - Cost_Am

Investment Securities - Cost/Amortized, Unrealized Gains/Losses & FV on AFS Investment Securities (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	$ 1,735,000,000	$ 1,745,000,000
Unrealized Gains	40,000,000	55,000,000
Unrealized Losses	(43,000,000)	(2,000,000)
Fair Value	1,732,000,000	1,798,000,000
Allowance for Credit Losses	0
U.S. government and government sponsored entities
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	11,000,000	11,000,000
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	11,000,000	11,000,000
Obligations of states, municipalities, and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	88,000,000	91,000,000
Unrealized Gains	1,000,000	2,000,000
Unrealized Losses	0	(1,000,000)
Fair Value	89,000,000	92,000,000
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	76,000,000	91,000,000
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	76,000,000	91,000,000
Non-U.S. government and government sponsored entities
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	136,000,000	144,000,000
Unrealized Gains	4,000,000	3,000,000
Unrealized Losses	(1,000,000)
Fair Value	139,000,000	147,000,000
Corporate debt
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	1,061,000,000	1,054,000,000
Unrealized Gains	25,000,000	45,000,000
Unrealized Losses	(31,000,000)	(1,000,000)
Fair Value	1,055,000,000	1,098,000,000
RMBS
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	212,000,000	214,000,000
Unrealized Gains	8,000,000	3,000,000
Unrealized Losses	(3,000,000)	0
Fair Value	217,000,000	217,000,000
CMBS
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	64,000,000	56,000,000
Unrealized Gains	1,000,000	1,000,000
Unrealized Losses	(2,000,000)
Fair Value	63,000,000	57,000,000
CDO/ABS
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	87,000,000	84,000,000
Unrealized Gains	1,000,000	1,000,000
Unrealized Losses	(6,000,000)	0
Fair Value	$ 82,000,000	$ 85,000,000

Investment Securities - Additio

Investment Securities - Additional Information (Details) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)investment	Mar. 31, 2019USD ($)	Dec. 31, 2019USD ($)investment
Debt Securities, Available-for-sale [Line Items]
Investment securities in an unrealized loss position | investment	865		398
Proceeds from sales and redemptions	$ 58	$ 29
Fair value of securities on deposit	605		$ 633
Net unrealized gains (losses) on other securities sold or redeemed	(13)	$ 4
Other assets
Debt Securities, Available-for-sale [Line Items]
Interest receivables	$ 13

Investment Securities - Fair Va

Investment Securities - Fair Value and Unrealized Losses on AFS Investment Securities (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Fair Value
Less Than 12 Months	$ 657	$ 261
12 Months or Longer	6	41
Total	663	302
Unrealized Losses
Less Than 12 Months	(43)	(2)
12 Months or Longer	0	0
Total	(43)	(2)
U.S. government and government sponsored entities
Fair Value
Less Than 12 Months		0
12 Months or Longer		3
Total		3
Unrealized Losses
Less Than 12 Months		0
12 Months or Longer		0
Total		0
Obligations of states, municipalities, and political subdivisions
Fair Value
Less Than 12 Months	20	29
12 Months or Longer	0	4
Total	20	33
Unrealized Losses
Less Than 12 Months	0	(1)
12 Months or Longer	0	0
Total	0	(1)
Commercial paper
Fair Value
Less Than 12 Months	45	76
12 Months or Longer	0	0
Total	45	76
Unrealized Losses
Less Than 12 Months	0	0
12 Months or Longer	0	0
Total	0	0
Non-U.S. government and government sponsored entities
Fair Value
Less Than 12 Months	17	19
12 Months or Longer	0	14
Total	17	33
Unrealized Losses
Less Than 12 Months	(1)	0
12 Months or Longer	0	0
Total	(1)	0
Corporate debt
Fair Value
Less Than 12 Months	434	63
12 Months or Longer	3	13
Total	437	76
Unrealized Losses
Less Than 12 Months	(31)	(1)
12 Months or Longer	0	0
Total	(31)	(1)
RMBS
Fair Value
Less Than 12 Months	53	45
12 Months or Longer	0	0
Total	53	45
Unrealized Losses
Less Than 12 Months	(3)	0
12 Months or Longer	0	0
Total	(3)	0
CMBS
Fair Value
Less Than 12 Months	31	15
12 Months or Longer	3	7
Total	34	22
Unrealized Losses
Less Than 12 Months	(2)	0
12 Months or Longer	0	0
Total	(2)	0
CDO/ABS
Fair Value
Less Than 12 Months	57	14
12 Months or Longer	0	0
Total	57	14
Unrealized Losses
Less Than 12 Months	(6)	0
12 Months or Longer	0	0
Total	$ (6)	$ 0

Investment Securities - Contrac

Investment Securities - Contractual Maturities of AFS Investment Securities (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Fixed maturities, excluding mortgage-backed, asset-backed, and collateralized securities:
Due in 1 year or less	$ 190
Due after 1 year through 5 years	550
Due after 5 years through 10 years	473
Due after 10 years	157
Mortgage-backed, asset-backed, and collateralized securities	362
Total	1,732	$ 1,798
Fixed maturities, excluding mortgage-backed, asset-backed, and collateralized securities:
Due in 1 year or less	190
Due after 1 year through 5 years	551
Due after 5 years through 10 years	474
Due after 10 years	157
Mortgage-backed, asset-backed, and collateralized securities	363
Cost/ Amortized Cost	$ 1,735	$ 1,745

Investment Securities - Fair _2

Investment Securities - Fair Value of Other Securities (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Debt and Equity Securities, FV-NI [Line Items]
Bonds	$ 33	$ 40
Other long-term investments	1	1
Total	68	86
Non-U.S. government and government sponsored entities
Debt and Equity Securities, FV-NI [Line Items]
Bonds	1	1
Corporate debt
Debt and Equity Securities, FV-NI [Line Items]
Bonds	18	24
Mortgage-backed, asset-backed, and collateralized bonds
Debt and Equity Securities, FV-NI [Line Items]
Bonds	14	15
Preferred stock
Debt and Equity Securities, FV-NI [Line Items]
Equity securities	15	19
Common stock
Debt and Equity Securities, FV-NI [Line Items]
Equity securities	$ 19	$ 26

Long-term Debt (Details)

Long-term Debt (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Principal maturities of long-term debt by type of debt
Remainder of 2020	$ 1,000
2021	646
2022	1,000
2023	1,175
2024	1,300
2025-2067	4,749
Total principal maturities	20,766
Total carrying amount	20,443	$ 17,212
Debt issuance costs	(108)
Consolidated VIEs
Principal maturities of long-term debt by type of debt
Total carrying amount	10,864	7,643
Securitizations
Principal maturities of long-term debt by type of debt
Securitizations	7,396
Revolving Conduit Facilities
Principal maturities of long-term debt by type of debt
Securitizations	3,500
Senior Debt | Securitizations
Principal maturities of long-term debt by type of debt
Remainder of 2020	0
2021	0
2022	0
2023	0
2024	0
2025-2067	0
Securitizations	7,396
Total principal maturities	7,396
Total carrying amount	7,364
Debt issuance costs	(27)
Debt issuance costs	$ 31
Senior Debt | Securitizations | Minimum
Long-term debt
Interest rate	1.50%
Senior Debt | Securitizations | Maximum
Long-term debt
Interest rate	6.94%
Senior Debt | Revolving Conduit Facilities
Principal maturities of long-term debt by type of debt
Remainder of 2020	$ 0
2021	0
2022	0
2023	0
2024	0
2025-2067	0
Securitizations	3,500
Total principal maturities	3,500
Total carrying amount	3,500
Debt issuance costs	$ 0
Senior Debt | Revolving Conduit Facilities | Minimum
Long-term debt
Interest rate	1.51%
Senior Debt | Revolving Conduit Facilities | Maximum
Long-term debt
Interest rate	3.24%
Senior Debt | Unsecured Notes
Principal maturities of long-term debt by type of debt
Remainder of 2020	$ 1,000
2021	646
2022	1,000
2023	1,175
2024	1,300
2025-2067	4,399
Total principal maturities	9,520
Total carrying amount	9,407
Debt issuance costs	$ (81)
Senior Debt | Unsecured Notes | Minimum
Long-term debt
Interest rate	5.38%
Senior Debt | Unsecured Notes | Maximum
Long-term debt
Interest rate	8.25%
Junior Subordinated Debt
Principal maturities of long-term debt by type of debt
Remainder of 2020	$ 0
2021	0
2022	0
2023	0
2024	0
2025-2067	350
Total principal maturities	350
Total carrying amount	172
Debt issuance costs	0
Securitizations | Consolidated VIEs
Principal maturities of long-term debt by type of debt
Amounts drawn	3,500
SFC
Principal maturities of long-term debt by type of debt
Total carrying amount	20,443	17,212
SFC | Consolidated VIEs
Principal maturities of long-term debt by type of debt
Total carrying amount	$ 10,900	$ 7,600
SFC | Junior Subordinated Debt
Long-term debt
Effective interest rate	3.58%

Variable Interest Entities - Ca

Variable Interest Entities - Carrying Amount of Consolidated VIEs (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Variable Interest Entity [Line Items]
Cash and cash equivalents	$ 4,203	$ 1,227	$ 1,709
Finance receivables - Personal loans	18,269	18,389
Allowance for finance receivable losses	2,182	829
Restricted cash and restricted cash equivalents	575	405	575
Other assets	1,069	769
Long-term debt	20,443	17,212
Finance receivable - Personal loan
Variable Interest Entity [Line Items]
Finance receivables - Personal loans	18,269
Allowance for finance receivable losses	2,182	829	$ 733	$ 731
Consolidated VIEs
Variable Interest Entity [Line Items]
Cash and cash equivalents	2	4
Allowance for finance receivable losses	1,392	340
Restricted cash and restricted cash equivalents	567	400
Other assets	31	29
Long-term debt	10,864	7,643
Other liabilities	17	15
Consolidated VIEs | Finance receivable - Personal loan
Variable Interest Entity [Line Items]
Finance receivables - Personal loans	$ 12,083	$ 8,428

Variable Interest Entities - Co

Variable Interest Entities - Consolidated VIEs (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Variable Interest Entity [Line Items]
Interest expense	$ 255	$ 236
Consolidated VIEs
Variable Interest Entity [Line Items]
Interest expense	$ 81	$ 82

Variable Interest Entities - Se

Variable Interest Entities - Securitized Borrowings (Details)	3 Months Ended
	Mar. 31, 2020
Minimum
Debt Instrument [Line Items]
Revolving period	1 year
Maximum
Debt Instrument [Line Items]
Revolving period	7 years

Variable Interest Entities - Re

Variable Interest Entities - Revolving Conduit Facilities (Details)	3 Months Ended
	Mar. 31, 2020USD ($)facility
Minimum
Line of Credit Facility [Line Items]
Revolving period	1 year
Maximum
Line of Credit Facility [Line Items]
Revolving period	7 years
Consolidated VIEs | Securitizations
Line of Credit Facility [Line Items]
Number of conduit facilities | facility	14
Total borrowing capacity	$ 7,100,000,000
Amounts drawn	3,500,000,000
Remaining borrowing capacity	$ 3,600,000,000
Consolidated VIEs | Securitizations | Minimum
Line of Credit Facility [Line Items]
Revolving period	1 year
Debt instrument, term	3 years
Consolidated VIEs | Securitizations | Maximum
Line of Credit Facility [Line Items]
Revolving period	3 years
Debt instrument, term	10 years

Insurance (Details)

Insurance (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Liability for unpaid claims and claims adjustment expense
Balance at beginning of period	$ 117	$ 117
Less reinsurance recoverables	(3)	(4)	$ (4)	$ (4)
Net balance at beginning of period			113	113
Additions for losses and loss adjustment expenses incurred to:
Current year	77	54
Prior years	(9)	(7)
Total	68	47
Reductions for losses and loss adjustment expenses paid related to:
Current year	(17)	(17)
Prior years	(30)	(33)
Total	(47)	(50)
Net balance at end of period	133	110
Foreign currency translation adjustment	(1)	0
Plus reinsurance recoverables	3	4	$ 4	$ 4
Balance at end of period	$ 136	$ 114

Capital Stock and Earnings Pe_3

Capital Stock and Earnings Per Share (OMH Only) - Additional Information (Details)	3 Months Ended
	Mar. 31, 2020USD ($)class$ / sharesshares	Mar. 31, 2019USD ($)
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Number of classes of authorized stock | class	2
Stock repurchase program	$ 200,000,000
Shares repurchased and retired (in shares) | shares	2,031,698
Shares repurchased average price per share (in usd per share) | $ / shares	$ 22.30
Stock Repurchased and Retired During Period, Value	$ 45,000,000
Payments of dividends	387,000,000	$ 34,000,000
SFC
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Payments of dividends	$ 45,000,000

Capital Stock and Earnings Pe_4

Capital Stock and Earnings Per Share (OMH Only) - Changes in Shares Issued and Outstanding (Details) - shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Earnings Per Share [Abstract]
Beginning balance (in shares)	136,101,156	135,832,278
Common shares issued (in shares)	240,249	250,185
Common shares retired (in shares)	(2,031,698)	0
Ending balance (in shares)	134,309,707	136,082,463

Capital Stock and Earnings Pe_5

Capital Stock and Earnings Per Share (OMH Only) - Computation of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Numerator (basic and diluted):
Net income	$ 32	$ 152
Denominator:
Weighted average number of shares outstanding (basic) (in shares)	135,909,100	136,001,996
Effect of dilutive securities (in shares)	229,577	189,287
Weighted average number of shares outstanding (diluted) (in shares)	136,138,677	136,191,283
Earnings per share:
Basic (in dollars per share)	$ 0.24	$ 1.12
Diluted (in dollars per share)	$ 0.24	$ 1.11
RSUs
Earnings per share:
Shares excluded in the diluted earnings per share calculation (in shares)	214,752	458,594

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	$ 4,330,000,000	$ 3,799,000,000
Other comprehensive (loss) before reclassifications	(50,000,000)	32,000,000
Balance at end of period	3,052,000,000	3,950,000,000
Allowance for Credit Losses	0
Unrealized Gains (Losses) Available-for-Sale Securities *
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	41,000,000	(28,000,000)
Other comprehensive (loss) before reclassifications	(42,000,000)	30,000,000
Balance at end of period	(1,000,000)	2,000,000
Retirement Plan Liabilities Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	3,000,000	(3,000,000)
Other comprehensive (loss) before reclassifications	0	0
Balance at end of period	3,000,000	(3,000,000)
Foreign Currency Translation Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	0	(3,000,000)
Other comprehensive (loss) before reclassifications	(8,000,000)	2,000,000
Balance at end of period	(8,000,000)	(1,000,000)
Total Accumulated Other Comprehensive Income (Loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	44,000,000	(34,000,000)
Balance at end of period	$ (6,000,000)	$ (2,000,000)

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Net deferred tax asset	$ 429		$ 104
Increase in net deferred tax asset	$ 325
Effective tax rate	24.30%	24.80%
Unrecognized tax benefits, including related interest and penalties	$ 12		$ 12

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Segment Reporting Information [Line Items]
Interest income	$ 1,106	$ 956
Interest expense	255	236
Provision for finance receivable losses	531	286
Net interest income after provision for finance receivable losses	320	434
Other revenues	141	148
Other expenses	418	380
Income before income taxes	43	202
Assets	24,693	21,358	$ 22,817
Consumer and Insurance | Consumer and Insurance
Segment Reporting Information [Line Items]
Interest income	1,101	954
Interest expense	249	229
Provision for finance receivable losses	530	276
Net interest income after provision for finance receivable losses	322	449
Other revenues	136	146
Other expenses	407	363
Income before income taxes	51	232
Assets	22,570	19,197
Other
Segment Reporting Information [Line Items]
Interest income	2	3
Interest expense	1	2
Provision for finance receivable losses	0	0
Net interest income after provision for finance receivable losses	1	1
Other revenues	4	8
Other expenses	6	12
Income before income taxes	(1)	(3)
Assets	72	95
Segment to GAAP Adjustment
Segment Reporting Information [Line Items]
Interest income	3	(1)
Interest expense	5	5
Provision for finance receivable losses	1	10
Net interest income after provision for finance receivable losses	(3)	(16)
Other revenues	1	(6)
Other expenses	5	5
Income before income taxes	(7)	(27)
Assets	$ 2,051	$ 2,066

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value & Carrying Value Hierarchy Basis (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Assets
Restricted cash and restricted cash equivalents	$ 575	$ 405	$ 575
Total Fair Value
Assets
Cash and cash equivalents	4,203	1,227
Investment securities	1,800	1,884
Net finance receivables, less allowance for finance receivable losses	18,369	19,319
Restricted cash and restricted cash equivalents	575	405
Other assets	70	84
Liabilities
Long-term debt	19,980	18,509
Total Carrying Value
Assets
Cash and cash equivalents	4,203	1,227
Investment securities	1,800	1,884
Net finance receivables, less allowance for finance receivable losses	16,087	17,560
Restricted cash and restricted cash equivalents	575	405
Other assets	69	74
Liabilities
Long-term debt	20,443	17,212
Level 1
Assets
Cash and cash equivalents	4,185	1,159
Investment securities	35	45
Net finance receivables, less allowance for finance receivable losses	0	0
Restricted cash and restricted cash equivalents	575	405
Other assets	0	0
Liabilities
Long-term debt	0	0
Level 2
Assets
Cash and cash equivalents	18	68
Investment securities	1,763	1,835
Net finance receivables, less allowance for finance receivable losses	0	0
Restricted cash and restricted cash equivalents	0	0
Other assets	0	0
Liabilities
Long-term debt	19,980	18,509
Level 3
Assets
Cash and cash equivalents	0	0
Investment securities	2	4
Net finance receivables, less allowance for finance receivable losses	18,369	19,319
Restricted cash and restricted cash equivalents	0	0
Other assets	70	84
Liabilities
Long-term debt	$ 0	$ 0

Fair Value Measurements - Asset

Fair Value Measurements - Assets at Fair Value Recurring Basis (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	$ 1,732	$ 1,798
Other securities	68	86
U.S. government and government sponsored entities
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	11	11
Obligations of states, municipalities, and political subdivisions
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	89	92
Corporate debt
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	1,055	1,098
RMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	217	217
CMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	63	57
CDO/ABS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	82	85
Level 1
Assets
Cash equivalents in securities	4,185	1,159
Investments, Debt and Equity Securities [Abstract]
Total investment securities	35	45
Level 2
Assets
Cash equivalents in securities	18	68
Investments, Debt and Equity Securities [Abstract]
Total investment securities	1,763	1,835
Level 3
Assets
Cash equivalents in securities	0	0
Investments, Debt and Equity Securities [Abstract]
Total investment securities	2	4
Fair Value, Measurements, Recurring
Assets
Cash equivalents in mutual funds	3,951	775
Cash equivalents in securities	18	68
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	1,732	1,798
Other securities	68	86
Total investment securities	1,800	1,884
Restricted cash in mutual funds	573	403
Total	6,342	3,130
Fair Value, Measurements, Recurring | Total bonds
Investments, Debt and Equity Securities [Abstract]
Other securities	33	40
Fair Value, Measurements, Recurring | U.S. government and government sponsored entities
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	11	11
Fair Value, Measurements, Recurring | Obligations of states, municipalities, and political subdivisions
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	89	92
Fair Value, Measurements, Recurring | Commercial paper
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	76	91
Fair Value, Measurements, Recurring | Non-U.S. government and government sponsored entities
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	139	147
Other securities	1	1
Fair Value, Measurements, Recurring | Corporate debt
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	1,055	1,098
Other securities	18	24
Fair Value, Measurements, Recurring | RMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	217	217
Other securities	1	1
Fair Value, Measurements, Recurring | CMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	63	57
Fair Value, Measurements, Recurring | CDO/ABS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	82	85
Other securities	13	14
Fair Value, Measurements, Recurring | Preferred stock
Investments, Debt and Equity Securities [Abstract]
Other securities	15	19
Fair Value, Measurements, Recurring | Common stock
Investments, Debt and Equity Securities [Abstract]
Other securities	19	26
Fair Value, Measurements, Recurring | Other long-term investments
Investments, Debt and Equity Securities [Abstract]
Other securities	1	1
Fair Value, Measurements, Recurring | Level 1
Assets
Cash equivalents in mutual funds	3,951	775
Cash equivalents in securities	0	0
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	4	5
Other securities	31	40
Total investment securities	35	45
Restricted cash in mutual funds	573	403
Total	4,559	1,223
Fair Value, Measurements, Recurring | Level 1 | Total bonds
Investments, Debt and Equity Securities [Abstract]
Other securities	0	0
Fair Value, Measurements, Recurring | Level 1 | U.S. government and government sponsored entities
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	0	0
Fair Value, Measurements, Recurring | Level 1 | Obligations of states, municipalities, and political subdivisions
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	0	0
Fair Value, Measurements, Recurring | Level 1 | Commercial paper
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	0	0
Fair Value, Measurements, Recurring | Level 1 | Non-U.S. government and government sponsored entities
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	0	0
Other securities	0	0
Fair Value, Measurements, Recurring | Level 1 | Corporate debt
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	4	5
Other securities	0	0
Fair Value, Measurements, Recurring | Level 1 | RMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	0	0
Other securities	0	0
Fair Value, Measurements, Recurring | Level 1 | CMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	0	0
Fair Value, Measurements, Recurring | Level 1 | CDO/ABS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	0	0
Other securities	0	0
Fair Value, Measurements, Recurring | Level 1 | Preferred stock
Investments, Debt and Equity Securities [Abstract]
Other securities	12	14
Fair Value, Measurements, Recurring | Level 1 | Common stock
Investments, Debt and Equity Securities [Abstract]
Other securities	19	26
Fair Value, Measurements, Recurring | Level 1 | Other long-term investments
Investments, Debt and Equity Securities [Abstract]
Other securities	0	0
Fair Value, Measurements, Recurring | Level 2
Assets
Cash equivalents in mutual funds	0	0
Cash equivalents in securities	18	68
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	1,727	1,793
Other securities	36	42
Total investment securities	1,763	1,835
Restricted cash in mutual funds	0	0
Total	1,781	1,903
Fair Value, Measurements, Recurring | Level 2 | Total bonds
Investments, Debt and Equity Securities [Abstract]
Other securities	33	37
Fair Value, Measurements, Recurring | Level 2 | U.S. government and government sponsored entities
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	11	11
Fair Value, Measurements, Recurring | Level 2 | Obligations of states, municipalities, and political subdivisions
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	89	92
Fair Value, Measurements, Recurring | Level 2 | Commercial paper
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	76	91
Fair Value, Measurements, Recurring | Level 2 | Non-U.S. government and government sponsored entities
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	139	147
Other securities	1	1
Fair Value, Measurements, Recurring | Level 2 | Corporate debt
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	1,051	1,093
Other securities	18	23
Fair Value, Measurements, Recurring | Level 2 | RMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	217	217
Other securities	1	1
Fair Value, Measurements, Recurring | Level 2 | CMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	63	57
Fair Value, Measurements, Recurring | Level 2 | CDO/ABS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	81	85
Other securities	13	12
Fair Value, Measurements, Recurring | Level 2 | Preferred stock
Investments, Debt and Equity Securities [Abstract]
Other securities	3	5
Fair Value, Measurements, Recurring | Level 2 | Common stock
Investments, Debt and Equity Securities [Abstract]
Other securities	0	0
Fair Value, Measurements, Recurring | Level 2 | Other long-term investments
Investments, Debt and Equity Securities [Abstract]
Other securities	0	0
Fair Value, Measurements, Recurring | Level 3
Assets
Cash equivalents in mutual funds	0	0
Cash equivalents in securities	0	0
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	1	0
Other securities	1	4
Total investment securities	2	4
Restricted cash in mutual funds	0	0
Total	2	4
Fair Value, Measurements, Recurring | Level 3 | Total bonds
Investments, Debt and Equity Securities [Abstract]
Other securities	0	3
Fair Value, Measurements, Recurring | Level 3 | U.S. government and government sponsored entities
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	0	0
Fair Value, Measurements, Recurring | Level 3 | Obligations of states, municipalities, and political subdivisions
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	0	0
Fair Value, Measurements, Recurring | Level 3 | Commercial paper
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	0	0
Fair Value, Measurements, Recurring | Level 3 | Non-U.S. government and government sponsored entities
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	0	0
Other securities	0	0
Fair Value, Measurements, Recurring | Level 3 | Corporate debt
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	0	0
Other securities	0	1
Fair Value, Measurements, Recurring | Level 3 | RMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	0	0
Other securities	0	0
Fair Value, Measurements, Recurring | Level 3 | CMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	0	0
Fair Value, Measurements, Recurring | Level 3 | CDO/ABS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	1	0
Other securities	0	2
Fair Value, Measurements, Recurring | Level 3 | Preferred stock
Investments, Debt and Equity Securities [Abstract]
Other securities	0	0
Fair Value, Measurements, Recurring | Level 3 | Common stock
Investments, Debt and Equity Securities [Abstract]
Other securities	0	0
Fair Value, Measurements, Recurring | Level 3 | Other long-term investments
Investments, Debt and Equity Securities [Abstract]
Other securities	$ 1	$ 1