Onemain Finance 10-Q 28 Oct 22 2022 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2022	Oct. 19, 2022
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
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		122,211,896
Entity Central Index Key	0001584207
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
OMFC
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	001-06155
Entity Registrant Name	ONEMAIN FINANCE CORPORATION
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
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents	$ 536	$ 541
Investment securities (includes available-for-sale securities with a fair value and an amortized cost basis of $1.7 billion and $1.9 billion in 2022, respectively, and $1.9 billion and $1.8 billion in 2021, respectively)	1,747	1,992
Net finance receivables (includes loans of consolidated VIEs of $10.1 billion in 2022 and $8.8 billion in 2021)	19,752	19,212
Unearned insurance premium and claim reserves	(747)	(761)
Allowance for finance receivable losses (includes allowance of consolidated VIEs of $1.1 billion in 2022 and $910 million in 2021)	(2,255)	(2,095)
Net finance receivables, less unearned insurance premium and claim reserves and allowance for finance receivable losses	16,750	16,356
Restricted cash and restricted cash equivalents (includes restricted cash and restricted cash equivalents of consolidated VIEs of $472 million in 2022 and $466 million in 2021)	483	476
Goodwill	1,437	1,437
Other intangible assets	272	274
Other assets	1,116	1,003
Total assets	22,341	22,079
Liabilities and Shareholders’ Equity
Long-term debt (includes debt of consolidated VIEs of $9.2 billion in 2022 and $8.0 billion in 2021)	18,202	17,750
Insurance claims and policyholder liabilities	600	621
Deferred and accrued taxes	5	1
Other liabilities (includes other liabilities of consolidated VIEs of $18 million in 2022 and $13 million in 2021)	522	614
Total liabilities	19,329	18,986
Contingencies (Note 12)
Shareholders’ equity:
Common stock, par value $0.01 per share; 2,000,000,000 shares authorized, 122,618,748 and 127,809,640 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively	1	1
Additional paid-in capital	1,685	1,672
Accumulated other comprehensive income (loss)	(125)	61
Retained earnings	2,063	1,727
Treasury stock, at cost; 12,214,566 and 6,712,923 shares at September 30, 2022 and December 31, 2021, respectively	(612)	(368)
Total shareholders’ equity	3,012	3,093
Total liabilities and shareholders’ equity	$ 22,341	$ 22,079

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Investment securities, fair value	$ 1,677	$ 1,907
Investment securities, amortized cost basis	1,866	1,842
Net finance receivables	19,752	19,212
Financing receivable, allowance for credit loss	2,255	2,095
Restricted cash and restricted cash equivalents	483	476
Long-term debt	18,202	17,750
Other liabilities	$ 522	$ 614
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)	122,618,748	127,809,640
Common stock, shares outstanding (in shares)	122,618,748	127,809,640
Treasury stock, shares (in shares)	12,214,566	6,712,923
Consolidated VIEs
Net finance receivables	$ 10,069	$ 8,821
Financing receivable, allowance for credit loss	1,073	910
Restricted cash and restricted cash equivalents	472	466
Long-term debt	9,184	7,999
Other liabilities	$ 18	$ 13

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Interest income	$ 1,118	$ 1,113	$ 3,313	$ 3,244
Interest expense	223	237	661	703
Net interest income	895	876	2,652	2,541
Provision for finance receivable losses	421	226	998	356
Net interest income after provision for finance receivable losses	474	650	1,654	2,185
Other revenues:
Insurance	111	109	334	323
Investment	16	14	40	47
Gain on sales of finance receivables	17	15	50	30
Net gain (loss) on repurchases and repayments of debt	2	(1)	(26)	(49)
Other	24	18	62	45
Total other revenues	170	155	460	396
Other expenses:
Salaries and benefits	212	229	621	613
Other operating expenses	151	155	451	457
Insurance policy benefits and claims	31	45	116	125
Total other expenses	394	429	1,188	1,195
Income before income taxes	250	376	926	1,386
Income taxes	62	88	228	335
Net income	$ 188	$ 288	$ 698	$ 1,051
Weighted average number of shares outstanding:
Basic (in shares)	123,352,522	132,487,234	124,989,263	133,709,146
Diluted (in shares)	123,568,620	132,924,333	125,243,206	134,096,382
Earnings per share:
Basic (in dollars per share)	$ 1.52	$ 2.17	$ 5.58	$ 7.86
Diluted (in dollars per share)	$ 1.52	$ 2.17	$ 5.57	$ 7.84

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 188	$ 288	$ 698	$ 1,051
Other comprehensive income (loss):
Net change in unrealized losses on non-credit impaired available-for-sale securities	(65)	(9)	(248)	(34)
Foreign currency translation adjustments	(10)	(2)	(13)	1
Other	4	1	24	12
Income tax effect:
Net change in unrealized gains on non-credit impaired available-for-sale securities	15	2	57	8
Foreign currency translation adjustments	2	0	3	0
Other	(1)	0	(6)	(3)
Other comprehensive loss, net of tax, before reclassification adjustments	(55)	(8)	(183)	(16)
Net realized losses on available-for-sale securities, net of tax	0	0	(3)	(1)
Reclassification adjustments included in net income, net of tax	0	0	(3)	(1)
Other comprehensive loss, net of tax	(55)	(8)	(186)	(17)
Comprehensive income	$ 133	$ 280	$ 512	$ 1,034

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders’ Equity (Unaudited) - USD ($) $ in Millions		Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Treasury Stock
Balance at beginning of period at Dec. 31, 2020		$ 3,441	$ 1	$ 1,655	$ 94	$ 1,691	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock repurchased		(176)					(176)
Share-based compensation expense, net of forfeitures		16		16
Withholding tax on share-based compensation		(6)		(6)
Other comprehensive loss		(17)			(17)
Cash dividends	[1]	(1,188)				(1,188)
Net income		1,051				1,051
Balance at end of period at Sep. 30, 2021		3,121	1	1,665	77	1,554	(176)
Balance at beginning of period at Jun. 30, 2021		3,537	1	1,661	85	1,825	(35)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock repurchased		(141)					(141)
Share-based compensation expense, net of forfeitures		4		4
Other comprehensive loss		(8)			(8)
Cash dividends	[2]	(559)				(559)
Net income		288				288
Balance at end of period at Sep. 30, 2021		3,121	1	1,665	77	1,554	(176)
Balance at beginning of period at Dec. 31, 2021		3,093	1	1,672	61	1,727	(368)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock repurchased		(247)					(247)
Treasury stock issued (in shares)		2				(1)	3
Share-based compensation expense, net of forfeitures		27		27
Withholding tax on share-based compensation		(14)		(14)
Other comprehensive loss		(186)			(186)
Cash dividends	[1]	(361)				(361)
Net income		698				698
Balance at end of period at Sep. 30, 2022		3,012	1	1,685	(125)	2,063	(612)
Balance at beginning of period at Jun. 30, 2022		3,033	1	1,679	(70)	1,994	(571)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock repurchased		(42)					(42)
Treasury stock issued (in shares)		0				(1)	1
Share-based compensation expense, net of forfeitures		8		8
Withholding tax on share-based compensation		(2)		(2)
Other comprehensive loss		(55)			(55)
Cash dividends	[2]	(118)				(118)
Net income		188				188
Balance at end of period at Sep. 30, 2022		$ 3,012	$ 1	$ 1,685	$ (125)	$ 2,063	$ (612)
[1]Cash dividends declared were $2.85 per share and $8.85 per share during the nine months ended September 30, 2022 and 2021, respectively.[2]Cash dividends declared were $0.95 per share and $4.20 per share during the three months ended September 30, 2022 and 2021, respectively.

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Shareholders’ Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Stockholders' Equity [Abstract]
Dividends declared (in dollars per share)	$ 0.95	$ 4.20	$ 2.85	$ 8.85

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Net Cash Provided by (Used in) Operating Activities, Continuing Operations [Abstract]
Net income	$ 188	$ 288	$ 698	$ 1,051
Reconciling adjustments:
Provision for finance receivable losses	421	226	998	356
Depreciation and amortization			188	197
Deferred income tax charge (benefit)			(44)	57
Net loss on repurchases and repayments of debt	(2)	1	26	49
Share-based compensation expense, net of forfeitures			27	16
Gain on sales of finance receivables	(17)	(15)	(50)	(30)
Other			4	(4)
Cash flows due to changes in other assets and other liabilities			(124)	(53)
Net cash provided by operating activities			1,723	1,639
Cash flows from investing activities
Net principal originations and purchases of finance receivables			(2,010)	(1,738)
Proceeds from sales of finance receivables			599	361
Available-for-sale securities purchased			(406)	(347)
Available-for-sale securities called, sold, and matured			370	294
Other securities purchased			(5)	(706)
Other securities called, sold, and matured			11	691
Other, net			(56)	(54)
Net cash used for investing activities			(1,497)	(1,499)
Cash flows from financing activities
Proceeds from issuance and borrowings of long-term debt, net of issuance costs			4,479	2,168
Repayments and repurchases of long-term debt			(4,080)	(2,384)
Cash dividends			(364)	(1,185)
Common stock repurchased			(247)	(176)
Treasury stock issued			2	0
Withholding tax on share-based compensation			(14)	(6)
Net cash used for financing activities			(224)	(1,583)
Net change in cash and cash equivalents and restricted cash and restricted cash equivalents			2	(1,443)
Cash and cash equivalents and restricted cash and restricted cash equivalents at beginning of period			1,017	2,723
Cash and cash equivalents and restricted cash and restricted cash equivalents at end of period	1,019	1,280	1,019	1,280
Supplemental cash flow information
Cash and cash equivalents	536	821	536	821
Restricted cash and restricted cash equivalents	483	459	483	459
Total cash and cash equivalents and restricted cash and restricted cash equivalents	$ 1,019	$ 1,280	$ 1,019	$ 1,280

Condensed Consolidated Balanc_3

Condensed Consolidated Balance Sheets (Unaudited) - OMFC - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents	$ 536	$ 541
Investment securities (includes available-for-sale securities with a fair value and an amortized cost basis of $1.7 billion and $1.9 billion in 2022, respectively, and $1.9 billion and $1.8 billion in 2021, respectively)	1,747	1,992
Net finance receivables (includes loans of consolidated VIEs of $10.1 billion in 2022 and $8.8 billion in 2021)	19,752	19,212
Unearned insurance premium and claim reserves	(747)	(761)
Allowance for finance receivable losses (includes allowance of consolidated VIEs of $1.1 billion in 2022 and $910 million in 2021)	(2,255)	(2,095)
Net finance receivables, less unearned insurance premium and claim reserves and allowance for finance receivable losses	16,750	16,356
Restricted cash and restricted cash equivalents (includes restricted cash and restricted cash equivalents of consolidated VIEs of $472 million in 2022 and $466 million in 2021)	483	476
Goodwill	1,437	1,437
Other intangible assets	272	274
Other assets	1,116	1,003
Total assets	22,341	22,079
Liabilities and Shareholders’ Equity
Long-term debt (includes debt of consolidated VIEs of $9.2 billion in 2022 and $8.0 billion in 2021)	18,202	17,750
Insurance claims and policyholder liabilities	600	621
Deferred and accrued taxes	5	1
Other liabilities (includes other liabilities of consolidated VIEs of $18 million in 2022 and $13 million in 2021)	522	614
Total liabilities	19,329	18,986
Contingencies (Note 12)
Shareholders’ equity:
Common stock, par value $0.50 per share; 25,000000 shares authorized, 10,160021 shares issued and outstanding at June 30, 2022 and December 31, 2021	1	1
Additional paid-in capital	1,685	1,672
Accumulated other comprehensive income (loss)	(125)	61
Retained earnings	2,063	1,727
Total shareholders’ equity	3,012	3,093
Total liabilities and shareholders’ equity	22,341	22,079
Consolidated VIEs
Assets
Cash and cash equivalents	3	2
Net finance receivables (includes loans of consolidated VIEs of $10.1 billion in 2022 and $8.8 billion in 2021)	10,069	8,821
Allowance for finance receivable losses (includes allowance of consolidated VIEs of $1.1 billion in 2022 and $910 million in 2021)	(1,073)	(910)
Restricted cash and restricted cash equivalents (includes restricted cash and restricted cash equivalents of consolidated VIEs of $472 million in 2022 and $466 million in 2021)	472	466
Other assets	26	26
Liabilities and Shareholders’ Equity
Long-term debt (includes debt of consolidated VIEs of $9.2 billion in 2022 and $8.0 billion in 2021)	9,184	7,999
Other liabilities (includes other liabilities of consolidated VIEs of $18 million in 2022 and $13 million in 2021)	18	13
OMFC
Assets
Cash and cash equivalents	512	510
Investment securities (includes available-for-sale securities with a fair value and an amortized cost basis of $1.7 billion and $1.9 billion in 2022, respectively, and $1.9 billion and $1.8 billion in 2021, respectively)	1,747	1,992
Net finance receivables (includes loans of consolidated VIEs of $10.1 billion in 2022 and $8.8 billion in 2021)	19,752	19,212
Unearned insurance premium and claim reserves	(747)	(761)
Allowance for finance receivable losses (includes allowance of consolidated VIEs of $1.1 billion in 2022 and $910 million in 2021)	(2,255)	(2,095)
Net finance receivables, less unearned insurance premium and claim reserves and allowance for finance receivable losses	16,750	16,356
Restricted cash and restricted cash equivalents (includes restricted cash and restricted cash equivalents of consolidated VIEs of $472 million in 2022 and $466 million in 2021)	483	476
Goodwill	1,437	1,437
Other intangible assets	272	274
Other assets	1,113	1,001
Total assets	22,314	22,046
Liabilities and Shareholders’ Equity
Long-term debt (includes debt of consolidated VIEs of $9.2 billion in 2022 and $8.0 billion in 2021)	18,202	17,750
Insurance claims and policyholder liabilities	600	621
Deferred and accrued taxes	5	1
Other liabilities (includes other liabilities of consolidated VIEs of $18 million in 2022 and $13 million in 2021)	522	614
Total liabilities	19,329	18,986
Contingencies (Note 12)
Shareholders’ equity:
Common stock, par value $0.50 per share; 25,000000 shares authorized, 10,160021 shares issued and outstanding at June 30, 2022 and December 31, 2021	5	5
Additional paid-in capital	1,929	1,916
Accumulated other comprehensive income (loss)	(125)	61
Retained earnings	1,176	1,078
Total shareholders’ equity	2,985	3,060
Total liabilities and shareholders’ equity	22,314	22,046
OMFC | Consolidated VIEs
Assets
Net finance receivables (includes loans of consolidated VIEs of $10.1 billion in 2022 and $8.8 billion in 2021)	10,100	8,800
Allowance for finance receivable losses (includes allowance of consolidated VIEs of $1.1 billion in 2022 and $910 million in 2021)	(1,100)	(910)
Restricted cash and restricted cash equivalents (includes restricted cash and restricted cash equivalents of consolidated VIEs of $472 million in 2022 and $466 million in 2021)	472	466
Liabilities and Shareholders’ Equity
Long-term debt (includes debt of consolidated VIEs of $9.2 billion in 2022 and $8.0 billion in 2021)	9,200	8,000
Other liabilities (includes other liabilities of consolidated VIEs of $18 million in 2022 and $13 million in 2021)	$ 18	$ 13

Condensed Consolidated Balanc_4

Condensed Consolidated Balance Sheets (Unaudited) - OMFC (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Investment securities, fair value	$ 1,677	$ 1,907
Investment securities, amortized cost basis	1,866	1,842
Net finance receivables	19,752	19,212
Financing receivable, allowance for credit loss	2,255	2,095
Restricted cash and restricted cash equivalents	483	476
Long-term debt	18,202	17,750
Other liabilities	$ 522	$ 614
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)	122,618,748	127,809,640
Common stock, shares outstanding (in shares)	122,618,748	127,809,640
OMFC
Investment securities, fair value	$ 1,700	$ 1,900
Investment securities, amortized cost basis	1,900	1,800
Net finance receivables	19,752	19,212
Financing receivable, allowance for credit loss	2,255	2,095
Restricted cash and restricted cash equivalents	483	476
Long-term debt	18,202	17,750
Other liabilities	$ 522	$ 614
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
Net finance receivables	$ 10,069	$ 8,821
Financing receivable, allowance for credit loss	1,073	910
Restricted cash and restricted cash equivalents	472	466
Long-term debt	9,184	7,999
Other liabilities	18	13
Consolidated VIEs | OMFC
Net finance receivables	10,100	8,800
Financing receivable, allowance for credit loss	1,100	910
Restricted cash and restricted cash equivalents	472	466
Long-term debt	9,200	8,000
Other liabilities	$ 18	$ 13

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Operations (Unaudited) - OMFC - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Interest income	$ 1,118	$ 1,113	$ 3,313	$ 3,244
Interest expense	223	237	661	703
Net interest income	895	876	2,652	2,541
Provision for finance receivable losses	421	226	998	356
Net interest income after provision for finance receivable losses	474	650	1,654	2,185
Other revenues:
Insurance	111	109	334	323
Investment	16	14	40	47
Gain on sales of finance receivables	17	15	50	30
Net gain (loss) on repurchases and repayments of debt	2	(1)	(26)	(49)
Other	24	18	62	45
Total other revenues	170	155	460	396
Other expenses:
Salaries and benefits	212	229	621	613
Other operating expenses	151	155	451	457
Insurance policy benefits and claims	31	45	116	125
Total other expenses	394	429	1,188	1,195
Income before income taxes	250	376	926	1,386
Income taxes	62	88	228	335
Net income	188	288	698	1,051
OMFC
Interest income	1,118	1,113	3,313	3,244
Interest expense	223	237	661	703
Net interest income	895	876	2,652	2,541
Provision for finance receivable losses	421	226	998	356
Net interest income after provision for finance receivable losses	474	650	1,654	2,185
Other revenues:
Insurance	111	109	334	323
Investment	16	14	40	47
Gain on sales of finance receivables	17	15	50	30
Net gain (loss) on repurchases and repayments of debt	2	(1)	(26)	(49)
Other	24	18	62	45
Total other revenues	170	155	460	396
Other expenses:
Salaries and benefits	212	229	621	613
Other operating expenses	151	155	451	457
Insurance policy benefits and claims	31	45	116	125
Total other expenses	394	429	1,188	1,195
Income before income taxes	250	376	926	1,386
Income taxes	62	88	228	335
Net income	$ 188	$ 288	$ 698	$ 1,051

Condensed Consolidated Statem_7

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - OMFC - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Net income	$ 188	$ 288	$ 698	$ 1,051
Other comprehensive income (loss):
Net change in unrealized losses on non-credit impaired available-for-sale securities	(65)	(9)	(248)	(34)
Foreign currency translation adjustments	(10)	(2)	(13)	1
Other	4	1	24	12
Income tax effect:
Net change in unrealized gains on non-credit impaired available-for-sale securities	15	2	57	8
Foreign currency translation adjustments	2	0	3	0
Other	(1)	0	(6)	(3)
Other comprehensive loss, net of tax, before reclassification adjustments	(55)	(8)	(183)	(16)
Net realized losses on available-for-sale securities, net of tax	0	0	(3)	(1)
Reclassification adjustments included in net income, net of tax	0	0	(3)	(1)
Other comprehensive loss, net of tax	(55)	(8)	(186)	(17)
Comprehensive income	133	280	512	1,034
OMFC
Net income	188	288	698	1,051
Other comprehensive income (loss):
Net change in unrealized losses on non-credit impaired available-for-sale securities	(65)	(9)	(248)	(34)
Foreign currency translation adjustments	(10)	(2)	(13)	1
Other	4	1	24	12
Income tax effect:
Net change in unrealized gains on non-credit impaired available-for-sale securities	15	2	57	8
Foreign currency translation adjustments	2	0	3	0
Other	(1)	0	(6)	(3)
Other comprehensive loss, net of tax, before reclassification adjustments	(55)	(8)	(183)	(16)
Net realized losses on available-for-sale securities, net of tax	0	0	(3)	(1)
Reclassification adjustments included in net income, net of tax	0	0	(3)	(1)
Other comprehensive loss, net of tax	(55)	(8)	(186)	(17)
Comprehensive income	$ 133	$ 280	$ 512	$ 1,034

Condensed Consolidated Statem_8

Condensed Consolidated Statements of Shareholders’ Equity (Unaudited) - OMFC - USD ($) $ in Millions	Total		Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings		OMFC	OMFC Common Stock	OMFC Additional Paid-in Capital	OMFC Accumulated Other Comprehensive Income (Loss)	OMFC Retained Earnings
Balance at beginning of period at Dec. 31, 2020	$ 3,441		$ 1	$ 1,655	$ 94	$ 1,691		$ 3,440	$ 5	$ 1,899	$ 94	$ 1,442
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation expense, net of forfeitures	16			16				16		16
Withholding tax on share-based compensation	(6)			(6)				(6)		(6)
Other comprehensive loss	(17)				(17)			(17)			(17)
Cash dividends	(1,188)	[1]				(1,188)	[1]	(1,388)				(1,388)
Net income	1,051					1,051		1,051				1,051
Balance at end of period at Sep. 30, 2021	3,121		1	1,665	77	1,554		3,096	5	1,909	77	1,105
Balance at beginning of period at Jun. 30, 2021	3,537		1	1,661	85	1,825		3,530	5	1,905	85	1,535
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation expense, net of forfeitures	4			4				4		4
Other comprehensive loss	(8)				(8)			(8)			(8)
Cash dividends	(559)	[2]				(559)	[2]	(718)				(718)
Net income	288					288		288				288
Balance at end of period at Sep. 30, 2021	3,121		1	1,665	77	1,554		3,096	5	1,909	77	1,105
Balance at beginning of period at Dec. 31, 2021	3,093		1	1,672	61	1,727		3,060	5	1,916	61	1,078
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation expense, net of forfeitures	27			27				27		27
Withholding tax on share-based compensation	(14)			(14)				(14)		(14)
Other comprehensive loss	(186)				(186)			(186)			(186)
Cash dividends	(361)	[1]				(361)	[1]	(600)				(600)
Net income	698					698		698				698
Balance at end of period at Sep. 30, 2022	3,012		1	1,685	(125)	2,063		2,985	5	1,929	(125)	1,176
Balance at beginning of period at Jun. 30, 2022	3,033		1	1,679	(70)	1,994		3,023	5	1,923	(70)	1,165
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation expense, net of forfeitures	8			8				8		8
Withholding tax on share-based compensation	(2)			(2)				(2)		(2)
Other comprehensive loss	(55)				(55)			(55)			(55)
Cash dividends	(118)	[2]				(118)	[2]	(177)				(177)
Net income	188					188		188				188
Balance at end of period at Sep. 30, 2022	$ 3,012		$ 1	$ 1,685	$ (125)	$ 2,063		$ 2,985	$ 5	$ 1,929	$ (125)	$ 1,176
[1]Cash dividends declared were $2.85 per share and $8.85 per share during the nine months ended September 30, 2022 and 2021, respectively.[2]Cash dividends declared were $0.95 per share and $4.20 per share during the three months ended September 30, 2022 and 2021, respectively.

Condensed Consolidated Statem_9

Condensed Consolidated Statements of Cash Flows (Unaudited) - OMFC - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Net Cash Provided by (Used in) Operating Activities, Continuing Operations [Abstract]
Net income	$ 188	$ 288	$ 698	$ 1,051
Reconciling adjustments:
Provision for finance receivable losses	421	226	998	356
Depreciation and amortization			188	197
Deferred income tax charge (benefit)			(44)	57
Net loss on repurchases and repayments of debt	(2)	1	26	49
Share-based compensation expense, net of forfeitures			27	16
Gain on sales of finance receivables	(17)	(15)	(50)	(30)
Other			4	(4)
Cash flows due to changes in other assets and other liabilities			(124)	(53)
Net cash provided by operating activities			1,723	1,639
Cash flows from investing activities
Net principal originations and purchases of finance receivables			(2,010)	(1,738)
Proceeds from sales of finance receivables			599	361
Available-for-sale securities purchased			(406)	(347)
Available-for-sale securities called, sold, and matured			370	294
Other securities purchased			(5)	(706)
Other securities called, sold, and matured			11	691
Other, net			(56)	(54)
Net cash used for investing activities			(1,497)	(1,499)
Cash flows from financing activities
Proceeds from issuance and borrowings of long-term debt, net of issuance costs			4,479	2,168
Repayments and repurchases of long-term debt			(4,080)	(2,384)
Cash dividends			(364)	(1,185)
Withholding tax on share-based compensation			(14)	(6)
Net cash used for financing activities			(224)	(1,583)
Net change in cash and cash equivalents and restricted cash and restricted cash equivalents			2	(1,443)
Cash and cash equivalents and restricted cash and restricted cash equivalents at beginning of period			1,017	2,723
Cash and cash equivalents and restricted cash and restricted cash equivalents at end of period	1,019	1,280	1,019	1,280
Supplemental cash flow information
Cash and cash equivalents	536	821	536	821
Restricted cash and restricted cash equivalents	483	459	483	459
Total cash and cash equivalents and restricted cash and restricted cash equivalents	1,019	1,280	1,019	1,280
OMFC
Net Cash Provided by (Used in) Operating Activities, Continuing Operations [Abstract]
Net income	188	288	698	1,051
Reconciling adjustments:
Provision for finance receivable losses	421	226	998	356
Depreciation and amortization			188	197
Deferred income tax charge (benefit)			(44)	57
Net loss on repurchases and repayments of debt	(2)	1	26	49
Share-based compensation expense, net of forfeitures			27	16
Gain on sales of finance receivables	(17)	(15)	(50)	(30)
Other			4	(4)
Cash flows due to changes in other assets and other liabilities			(124)	(50)
Net cash provided by operating activities			1,723	1,642
Cash flows from investing activities
Net principal originations and purchases of finance receivables			(2,010)	(1,738)
Proceeds from sales of finance receivables			599	361
Available-for-sale securities purchased			(406)	(347)
Available-for-sale securities called, sold, and matured			370	294
Other securities purchased			(5)	(706)
Other securities called, sold, and matured			11	691
Other, net			(56)	(53)
Net cash used for investing activities			(1,497)	(1,498)
Cash flows from financing activities
Proceeds from issuance and borrowings of long-term debt, net of issuance costs			4,479	2,168
Repayments and repurchases of long-term debt			(4,080)	(2,384)
Cash dividends			(602)	(1,388)
Withholding tax on share-based compensation			(14)	(6)
Net cash used for financing activities			(217)	(1,610)
Net change in cash and cash equivalents and restricted cash and restricted cash equivalents			9	(1,466)
Cash and cash equivalents and restricted cash and restricted cash equivalents at beginning of period			986	2,723
Cash and cash equivalents and restricted cash and restricted cash equivalents at end of period	995	1,257	995	1,257
Supplemental cash flow information
Cash and cash equivalents	512	798	512	798
Restricted cash and restricted cash equivalents	483	459	483	459
Total cash and cash equivalents and restricted cash and restricted cash equivalents	$ 995	$ 1,257	$ 995	$ 1,257

Business and Basis of Presentat

Business and Basis of Presentation	9 Months Ended
	Sep. 30, 2022
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, OneMain Finance Corporation (“OMFC”) are financial services holding companies whose subsidiaries engage in the consumer finance and insurance businesses. The results of OMFC are consolidated into the results of OMH. Due to the nominal differences between OMFC and OMH, content throughout this filing relates to both OMH and OMFC, except where otherwise indicated. OMH and OMFC are referred to in this report, collectively with their subsidiaries, whether directly or indirectly owned, as “the Company,” “OneMain,” “we,” “us,” or “our.” 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. The condensed consolidated financial statements in this report should be read in conjunction with the consolidated financial statements and related notes included in our Annual Report. We follow the same significant accounting policies for our interim reporting. To conform to the 2022 presentation, we reclassified certain items in prior periods of our condensed consolidated financial statements.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2022
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	2. Recent Accounting Pronouncements 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. Upon adoption, our assumptions used to measure the liability for future policy benefits will be updated at least annually. The guidance requires the discount rate used to measure the liability to be an upper-medium grade fixed-income instrument yield and updated at each reporting date with changes in the liability due to the discount rate recognized in other comprehensive income. The amendments in this ASU become effective for the Company beginning January 1, 2023 and we have selected the modified retrospective transition method, which requires a transition date of January 1, 2021. The Company’s cross-functional implementation team continues to make progress in line with the established project plan to ensure we comply with all the amendments in this ASU at the time of adoption. The Company’s long-duration contracts include whole life, term life, accidental death and dismemberment, and disability income protection. We are utilizing an actuarial software solution to meet the new accounting and disclosure requirements and continue to refine the development of the actuarial model and assumptions. After the model has been subject to a parallel testing phase in 2022, the Company will provide further disclosure regarding the estimated impact of the adoption of the ASU on our consolidated financial statements. At the transition date, we expect this ASU will result in an increase to insurance claims and policyholder liabilities that will primarily be driven by the remeasured discount rate, resulting in a reduction to accumulated other comprehensive income, net of tax. We expect this impact would reverse over the transition period as interest rates continue to rise. We expect the impact to retained earnings to be immaterial. Financial Instruments In March of 2022, the FASB issued ASU 2022-02, Financial Instruments - Credit Losses: Troubled Debt Restructurings and Vintage Disclosures , which eliminates the accounting for troubled debt restructurings by creditors while enhancing the disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. The amendment also requires disclosure of gross charge-offs by year of origination for finance receivables. The amendments in this ASU are effective for the Company for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted. Management will adopt this ASU using the modified retrospective method effective January 1, 2023. We are currently evaluating whether adoption of this ASU will have a material impact 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	9 Months Ended
	Sep. 30, 2022
Receivables [Abstract]
Finance Receivables	3. Finance Receivables Our finance receivables consist of personal loans and credit cards. Personal loans are non-revolving, with a fixed rate, fixed terms generally between three Components of our net finance receivables were as follows: (dollars in millions) Personal Loans Credit Cards Total September 30, 2022 Gross finance receivables (a) $ 19,428 $ 79 $ 19,507 Unearned fees (223) — (223) Accrued finance charges and fees 280 — 280 Deferred origination costs 188 — 188 Total $ 19,673 $ 79 $ 19,752 December 31, 2021 Gross finance receivables (a) $ 18,944 $ 24 $ 18,968 Unearned fees (225) (1) (226) Accrued finance charges and fees 289 — 289 Deferred origination costs 179 2 181 Total $ 19,187 $ 25 $ 19,212 (a) Personal loan gross finance receivables equal the unpaid principal balance. For precompute personal loans, unpaid principal balance is the gross contractual payments less the unaccreted balance of unearned finance charges. Credit card gross finance receivables equal the principal balance and billed interest and fees. WHOLE LOAN SALE TRANSACTIONS As of September 30, 2022, we have whole loan sale flow agreements with third parties, with remaining terms of less than one year, in which we agreed to sell a combined total of $180 million gross receivables per quarter of newly originated unsecured personal loans along with any associated accrued interest. These unsecured personal loans are derecognized from our balance sheet at the time of sale. We service the personal loans sold and are entitled to a servicing fee and other fees commensurate with the services performed as part of the agreements. The gain on sales and servicing fees are recorded in other revenue. We sold $180 million and $540 million of gross finance receivables during the three and nine months ended September 30, 2022, respectively, and $160 million and $325 million of gross finance receivables during the three and nine months ended September 30, 2021, respectively. The gain on the sales were $17 million and $50 million during the three and nine months ended September 30, 2022, respectively, and $15 million and $30 million during the three and nine months ended September 30, 2021, respectively. 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 personal loans are 60 days contractually past due, we consider these accounts to be at an increased risk for loss and collection of these accounts is managed by our centralized operations. We consider our personal loans to be nonperforming at 90 days or more contractually past due, at which point we stop accruing finance charges and reverse finance charges previously accrued. For our personal loans, we reversed net accrued finance charges of $34 million and $88 million during the three and nine months ended September 30, 2022, respectively, and $18 million and $52 million during the three and nine months ended September 30, 2021, respectively. Finance charges recognized from the contractual interest portion of payments received on nonaccrual personal loans totaled $4 million and $12 million during the three and nine months ended September 30, 2022, respectively, and $2 million and $10 million during the three and nine months ended September 30, 2021, respectively. All personal loans in nonaccrual status are considered in our estimate of allowance for finance receivable losses. We accrue finance charges and fees on credit cards until charge-off at approximately 180 days past due, at which point we reverse finance charges and fees previously accrued. For credit cards, net accrued finance charges and fees reversed for the three and nine months ended September 30, 2022 and 2021 were immaterial. The following tables below are a summary of our personal loans by the year of origination and number of days delinquent: (dollars in millions) 2022 2021 2020 2019 2018 Prior Total September 30, 2022 Performing Current $ 8,627 $ 6,034 $ 2,151 $ 1,365 $ 336 $ 133 $ 18,646 30-59 days past due 88 143 47 32 10 6 326 60-89 days past due 54 108 34 21 6 4 227 Total performing 8,769 6,285 2,232 1,418 352 143 19,199 Nonperforming (Nonaccrual) 90+ days past due 63 258 84 48 14 7 474 Total $ 8,832 $ 6,543 $ 2,316 $ 1,466 $ 366 $ 150 $ 19,673 (dollars in millions) 2021 2020 2019 2018 2017 Prior Total December 31, 2021 Performing Current $ 10,645 $ 3,935 $ 2,641 $ 814 $ 193 $ 109 $ 18,337 30-59 days past due 125 74 53 19 6 5 282 60-89 days past due 81 53 33 11 4 3 185 Total performing 10,851 4,062 2,727 844 203 117 18,804 Nonperforming (Nonaccrual) 90+ days past due 125 130 85 28 9 6 383 Total $ 10,976 $ 4,192 $ 2,812 $ 872 $ 212 $ 123 $ 19,187 The following is a summary of credit cards by number of days delinquent: (dollars in millions) September 30, 2022 December 31, 2021 Current $ 69 $ 25 30-59 days past due 3 — 60-89 days past due 2 — 90+ days past due 5 — Total $ 79 $ 25 There were no credit cards that were converted to term loans at September 30, 2022 or December 31, 2021. TROUBLED DEBT RESTRUCTURED FINANCE RECEIVABLES Information regarding TDR finance receivables were as follows: (dollars in millions) September 30, 2022 December 31, 2021 TDR gross finance receivables $ 797 $ 646 TDR net finance receivables * 802 650 Allowance for TDR finance receivable losses 307 270 * TDR net finance receivables are TDR gross finance receivables net of unearned fees, accrued finance charges, and deferred origination costs. There were no credit cards classified as TDR finance receivables at September 30, 2022 or December 31, 2021. Information regarding the new volume of the TDR finance receivables were as follows: Three Months Ended Nine Months Ended (dollars in millions) 2022 2021 2022 2021 Pre-modification TDR net finance receivables $ 245 $ 105 $ 521 $ 332 Post-modification TDR net finance receivables: Rate reduction 172 72 342 228 Other * 73 33 179 104 Total post-modification TDR net finance receivables $ 245 $ 105 $ 521 $ 332 Number of TDR accounts 29,448 12,528 63,129 40,727 * “Other” modifications primarily consist of loans with both rate reductions and the potential of principal forgiveness contingent on future payment performance by the borrower under the modified terms. Finance receivables 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 Nine Months Ended (dollars in millions) 2022 2021 2022 2021 TDR net finance receivables * $ 34 $ 31 $ 94 $ 88 Number of TDR accounts 4,348 4,221 11,906 12,147 * Represents the corresponding balance of TDR net finance receivables at the end of the month in which they defaulted. UNFUNDED LENDING COMMITMENTS Our unfunded lending commitments consist of the unused credit card lines, which are unconditionally cancellable. We do not anticipate that all of our customers will access their entire available line at any given point in time. The unused credit card lines totaled $64 million at September 30, 2022 and $54 million at December 31, 2021.

Allowance for Finance Receivabl

Allowance for Finance Receivable Losses	9 Months Ended
	Sep. 30, 2022
Receivables [Abstract]
Allowance for Finance Receivable Losses	4. 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 finance receivables 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. Our allowance for finance receivable losses may fluctuate based upon changes in portfolio growth, credit quality, and economic conditions. Our current methodology to estimate expected credit losses used the most recent macroeconomic forecasts, which incorporated the overall unemployment rate. Our unemployment outlook leveraged projections from various industry leading forecast providers. We also considered inflationary pressures, consumer confidence levels, and the risk of ongoing interest rate increases negatively impacting the economic outlook . At September 30, 2022, our economic forecast used a reasonable and supportable period of 12 months. The increase in our allowance for finance receivable losses for the three and nine months ended September 30, 2022 was primarily due to the weakened macroeconomic environment and growth in our loan portfolio. We may experience further changes to the macroeconomic assumptions within our forecast, as well as changes to our loan loss performance outlook, both of which could lead to further changes in our allowance for finance receivable losses, allowance ratio, and provision for finance receivable losses. Changes in the allowance for finance receivable losses were as follows: (dollars in millions) Personal Loans Credit Cards Total Three Months Ended September 30, 2022 Balance at beginning of period $ 2,115 $ 12 $ 2,127 Provision for finance receivable losses 415 6 421 Charge-offs (349) (3) (352) Recoveries 59 — 59 Balance at end of period $ 2,240 $ 15 $ 2,255 Three Months Ended September 30, 2021* Balance at beginning of period $ 2,000 $ — $ 2,000 Provision for finance receivable losses 226 — 226 Charge-offs (223) — (223) Recoveries 58 — 58 Balance at end of period $ 2,061 $ — $ 2,061 Nine Months Ended September 30, 2022 Balance at beginning of period $ 2,090 $ 5 $ 2,095 Provision for finance receivable losses 985 13 998 Charge-offs (1,029) (3) (1,032) Recoveries 194 — 194 Balance at end of period $ 2,240 $ 15 $ 2,255 Nine Months Ended September 30, 2021* Balance at beginning of period $ 2,269 $ — $ 2,269 Provision for finance receivable losses 356 — 356 Charge-offs (730) — (730) Recoveries 166 — 166 Balance at end of period $ 2,061 $ — $ 2,061 * The allowance for finance receivable losses for credit cards was immaterial for the three and nine months ended September 30, 2021 as the product offering began in the third quarter of 2021. The allowance for finance receivable losses and net finance receivables by impairment method were as follows: (dollars in millions) Personal Loans Credit Cards Total September 30, 2022 Allowance for finance receivable losses: Collectively evaluated for impairment $ 1,933 $ 15 $ 1,948 TDR finance receivables 307 — 307 Total $ 2,240 $ 15 $ 2,255 Finance receivables: Collectively evaluated for impairment $ 18,871 $ 79 $ 18,950 TDR finance receivables 802 — 802 Total $ 19,673 $ 79 $ 19,752 Allowance for finance receivable losses as a percentage of finance receivables 11.39 % 19.14 % 11.42 % December 31, 2021 Allowance for finance receivable losses: Collectively evaluated for impairment $ 1,820 $ 5 $ 1,825 TDR finance receivables 270 — 270 Total $ 2,090 $ 5 $ 2,095 Finance receivables: Collectively evaluated for impairment $ 18,537 $ 25 $ 18,562 TDR finance receivables 650 — 650 Total $ 19,187 $ 25 $ 19,212 Allowance for finance receivable losses as a percentage of finance receivables 10.89 % 19.91 % 10.90 %

Investment Securities

Investment Securities	9 Months Ended
	Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Investment Securities	5. 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 September 30, 2022* Fixed maturity available-for-sale securities: U.S. government and government sponsored entities $ 12 $ — $ (1) $ 11 Obligations of states, municipalities, and political subdivisions 72 — (8) 64 Commercial paper 53 — — 53 Non-U.S. government and government sponsored entities 144 — (9) 135 Corporate debt 1,249 — (135) 1,114 Mortgage-backed, asset-backed, and collateralized: RMBS 208 — (24) 184 CMBS 39 — (3) 36 CDO/ABS 89 — (9) 80 Total $ 1,866 $ — $ (189) $ 1,677 December 31, 2021* Fixed maturity available-for-sale securities: U.S. government and government sponsored entities $ 16 $ — $ — $ 16 Obligations of states, municipalities, and political subdivisions 76 3 — 79 Commercial paper 50 — — 50 Non-U.S. government and government sponsored entities 151 4 — 155 Corporate debt 1,246 61 (5) 1,302 Mortgage-backed, asset-backed, and collateralized: RMBS 169 3 (2) 170 CMBS 44 1 — 45 CDO/ABS 90 1 (1) 90 Total $ 1,842 $ 73 $ (8) $ 1,907 * The allowance for credit losses related to our investment securities as of September 30, 2022 and December 31, 2021 were immaterial. Interest receivables reported in “Other assets” totaled $14 million as of September 30, 2022 and $13 million as of December 31, 2021, respectively. There were no material amounts reversed from investment revenue for available-for-sale securities for the three and nine months ended September 30, 2022 and 2021. 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 September 30, 2022 U.S. government and government sponsored entities $ 10 $ (1) $ 1 $ — $ 11 $ (1) Obligations of states, municipalities, and political subdivisions 57 (7) 6 (1) 63 (8) Commercial paper 53 — — — 53 — Non-U.S. government and government sponsored entities 117 (6) 16 (3) 133 (9) Corporate debt 953 (102) 135 (33) 1,088 (135) Mortgage-backed, asset-backed, and collateralized: RMBS 129 (13) 49 (11) 178 (24) CMBS 29 (3) 7 — 36 (3) CDO/ABS 57 (5) 24 (4) 81 (9) Total $ 1,405 $ (137) $ 238 $ (52) $ 1,643 $ (189) December 31, 2021 U.S. government and government sponsored entities $ 6 $ — $ — $ — $ 6 $ — Obligations of states, municipalities, and political subdivisions 10 — — — 10 — Commercial paper 46 — — — 46 — Non-U.S. government and government sponsored entities 19 — 5 — 24 — Corporate debt 208 (3) 38 (2) 246 (5) Mortgage-backed, asset-backed, and collateralized: RMBS 81 (1) 15 (1) 96 (2) CMBS 7 — — — 7 — CDO/ABS 41 (1) 3 — 44 (1) Total $ 418 $ (5) $ 61 $ (3) $ 479 $ (8) On a lot basis, we had 2,315 and 570 investment securities in an unrealized loss position at September 30, 2022 and December 31, 2021, 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, as of September 30, 2022, 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 September 30, 2022, 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 and nine months ended September 30, 2022 and 2021, there were no material 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 for the three and nine months ended September 30, 2022 and 2021. The proceeds of available-for-sale securities sold or redeemed during the three and nine months ended September 30, 2022 totaled $34 million and $235 million, respectively. The proceeds of available-for-sale securities sold or redeemed during the three and nine months ended September 30, 2021 totaled $50 million and $189 million, respectively. The net realized gains and losses were immaterial during the three and nine months ended September 30, 2022 and 2021. Contractual maturities of fixed-maturity available-for-sale securities at September 30, 2022 were as follows: (dollars in millions) Fair Amortized Fixed maturities, excluding mortgage-backed, asset-backed, and collateralized securities: Due in 1 year or less $ 186 $ 187 Due after 1 year through 5 years 514 544 Due after 5 years through 10 years 526 616 Due after 10 years 151 183 Mortgage-backed, asset-backed, and collateralized securities 300 336 Total $ 1,677 $ 1,866 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 $534 million and $587 million at September 30, 2022 and December 31, 2021, respectively. OTHER SECURITIES The fair value of other securities by type was as follows: (dollars in millions) September 30, 2022 December 31, 2021 Fixed maturity other securities: Bonds $ 25 $ 30 Preferred stock * 16 22 Common stock * 29 33 Total $ 70 $ 85 * 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 immaterial for the three months ended September 30, 2022 and $12 million for the nine months ended September 30, 2022. Net unrealized gains and losses on other securities held were immaterial for the three and nine months ended September 30, 2021. Net realized gains and losses on other securities sold or redeemed were immaterial for the three and nine months ended September 30, 2022 and 2021. Other securities primarily consist of equity securities and those securities for which the fair value option was elected. We report net unrealized and realized gains and losses on other securities held, sold, or redeemed in investment revenue.

Long-term Debt

Long-term Debt	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Long-term Debt	6. Long-term Debt Principal maturities of long-term debt by type of debt at September 30, 2022 were as follows: Senior Debt (dollars in millions) Securitizations Private Secured Term Funding Revolving Unsecured Junior Total Interest rates (b) 0.87%-6.86% 3.30% 3.15%-3.41% 3.50%-8.25% 4.26 % Remainder of 2022 $ — $ — $ — $ — $ — $ — 2023 — — — 1,108 — 1,108 2024 — — — 1,270 — 1,270 2025 — — — 1,249 — 1,249 2026 — — — 1,600 — 1,600 2027-2067 — — — 3,682 350 4,032 Secured (c) 8,374 350 500 — — 9,224 Total principal maturities $ 8,374 $ 350 $ 500 $ 8,909 $ 350 $ 18,483 Total carrying amount $ 8,335 $ 349 $ 500 $ 8,846 $ 172 $ 18,202 Debt issuance costs (d) (37) (1) — (66) — (104) (a) Pursuant to the Base Indenture, the Supplemental Indentures, and the Guaranty Agreements, OMH agreed to fully and unconditionally guarantee, on a senior unsecured basis, payments of principal, premium and interest on the Unsecured Notes and Junior Subordinated Debenture. The OMH guarantees of OMFC’s long-term debt are subject to customary release provisions. (b) The interest rates shown are the range of contractual rates in effect at September 30, 2022. (c) Securitizations, private secured term funding, and borrowings under the 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. See Note 7 for further information on our long-term debt associated with securitizations, private secured term funding, 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 and unsecured corporate revolver, which totaled $29 million at September 30, 2022 and are reported in “Other assets.” (e) During the nine months ended September 30, 2022, we repurchased, in the open market, portions of our Unsecured Notes in the amount of $165 million. In connection with these repurchases, we recognized a gain of $3 million in net gain (loss) on repurchases and repayments of debt. Redemption of 8.875% Senior Notes Due 2025 On April 26, 2022, OMFC issued a notice to fully redeem its 8.875% Senior Notes due 2025. On June 1, 2022, OMFC paid a net aggregate amount of $637 million, inclusive of accrued interest and premiums, to complete the redemption. In connection with the redemption, we recognized $26 million of net loss on repurchases and repayments of debt during the second quarter of 2022. Unsecured Corporate Revolver On June 15, 2022, OMFC increased the total maximum borrowing capacity of its unsecured corporate revolver to $1.25 billion. The corporate revolver has a five-year term beginning October 25, 2021, during which draws and repayments may occur. Any outstanding principal balance is due and payable on October 25, 2026. At September 30, 2022, no amounts were drawn under this facility.

Variable Interest Entities

Variable Interest Entities	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	7. Variable Interest Entities CONSOLIDATED VIES We have transferred finance receivables to VIEs for asset-backed financing transactions and include the assets and liabilities in our condensed consolidated financial statements because we are the primary beneficiary of each VIE. We account for these asset-backed debt obligations as securitized borrowings. See Note 2 and Note 9 of the Notes to the Consolidated Financial Statements in Part II - Item 8 included in our Annual Report 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 when 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, private secured term funding, and revolving conduit facilities were as follows: (dollars in millions) September 30, 2022 December 31, 2021 Assets Cash and cash equivalents $ 3 $ 2 Net finance receivables 10,069 8,821 Allowance for finance receivable losses 1,073 910 Restricted cash and restricted cash equivalents 472 466 Other assets 26 26 Liabilities Long-term debt $ 9,184 $ 7,999 Other liabilities 18 13 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 and $214 million during the three and nine months ended September 30, 2022, respectively, compared to $72 million and $225 million during the three and nine months ended September 30, 2021, respectively. SECURITIZED BORROWINGS Each of our outstanding securitizations contain a revolving period ranging from two PRIVATE SECURED TERM FUNDING At September 30, 2022, an aggregate amount of $350 million was outstanding under the private secured term funding collateralized by our personal loans. No principal payments are required to be made until after April 25, 2025, followed by a subsequent one-year amortization period, at the expiration of which the outstanding principal amount is due and payable. REVOLVING CONDUIT FACILITIES We had access to 15 revolving conduit facilities with a total maximum borrowing capacity of $6.2 billion as of September 30, 2022. Our conduit facilities contain revolving periods during which time no principal payments are required, but may be made without penalty, followed by a subsequent amortization period. Principal balances of outstanding loans, if any, are due and payable in full over periods ranging up to eight years as of September 30, 2022. Amounts drawn on these facilities are collateralized by our personal loans. At September 30, 2022, an aggregate amount of $500 million was drawn under these facilities and the remaining borrowing capacity was $5.7 billion.

Insurance

Insurance	9 Months Ended
	Sep. 30, 2022
Insurance [Abstract]
Insurance	8. Insurance Changes in the reserve for unpaid claims and loss adjustment expenses (net of reinsurance recoverables): At or for the (dollars in millions) 2022 2021 Balance at beginning of period $ 118 $ 148 Less reinsurance recoverables (3) (3) Net balance at beginning of period 115 145 Additions for losses and loss adjustment expenses incurred to: Current year 142 158 Prior years * (15) (19) Total 127 139 Reductions for losses and loss adjustment expenses paid related to: Current year (77) (91) Prior years (61) (79) Total (138) (170) Foreign currency translation adjustment 1 — Net balance at end of period 105 114 Plus reinsurance recoverables 3 3 Balance at end of period $ 108 $ 117 * At September 30, 2022, $15 million reflected a redundancy in the prior years’ net reserves, primarily due to favorable development of credit life, credit disability, and term life claims during the period. At September 30, 2021, $19 million reflected a redundancy in the prior years’ net reserves, primarily due to favorable development of credit disability and unemployment claims during the period.

Capital Stock and Earnings Per

Capital Stock and Earnings Per Share (OMH Only)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Capital Stock and Earnings Per Share (OMH Only)	9. Capital Stock and Earnings Per Share (OMH Only) CAPITAL STOCK OMH has two classes of authorized capital stock: preferred stock and common stock. OMFC has two classes of authorized capital stock: special stock and common stock. OMH and OMFC may issue preferred stock and special stock, respectively, in one or more series. The OMH Board of Directors and the OMFC Board of Directors determine the dividend, liquidation, redemption, conversion, voting, and other rights prior to issuance. Changes in OMH shares of common stock issued and outstanding were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Balance at beginning of period 123,726,559 133,884,043 127,809,640 134,341,724 Common stock issued 44,479 4,653 310,751 159,327 Common stock repurchased (1,180,433) (2,435,489) (5,559,382) (3,047,844) Treasury stock issued 28,143 — 57,739 — Balance at end of period 122,618,748 131,453,207 122,618,748 131,453,207 EARNINGS PER SHARE (OMH ONLY) The computation of earnings per share was as follows: Three Months Ended September 30, Nine Months Ended September 30, (dollars in millions, except per share data) 2022 2021 2022 2021 Numerator (basic and diluted): Net income $ 188 $ 288 $ 698 $ 1,051 Denominator: Weighted average number of shares outstanding (basic) 123,352,522 132,487,234 124,989,263 133,709,146 Effect of dilutive securities * 216,098 437,099 253,943 387,236 Weighted average number of shares outstanding (diluted) 123,568,620 132,924,333 125,243,206 134,096,382 Earnings per share: Basic $ 1.52 $ 2.17 $ 5.58 $ 7.86 Diluted $ 1.52 $ 2.17 $ 5.57 $ 7.84 * We have excluded weighted-average unvested restricted stock units totaling 1,278,052 and 491,541 for the three months ended September 30, 2022 and 2021, respectively, and 1,230,739 and 322,430 for the nine months ended September 30, 2022 and 2021, 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 restricted stock units.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	10. Accumulated Other Comprehensive Income (Loss) Changes, net of tax, in accumulated other comprehensive income (loss) were as follows: (dollars in millions) Unrealized Retirement Foreign Other (b) Total Three Months Ended September 30, 2022 Balance at beginning of period $ (95) $ 1 $ 1 $ 23 $ (70) Other comprehensive income (loss) before reclassifications (50) — (8) 3 (55) Balance at end of period $ (145) $ 1 $ (7) $ 26 $ (125) Three Months Ended September 30, 2021 Balance at beginning of period $ 71 $ 1 $ 5 $ 8 $ 85 Other comprehensive income (loss) before reclassifications (7) — (2) 1 (8) Balance at end of period $ 64 $ 1 $ 3 $ 9 $ 77 Nine Months Ended September 30, 2022 Balance at beginning of period $ 49 $ 1 $ 3 $ 8 $ 61 Other comprehensive income (loss) before reclassifications (191) — (10) 18 (183) Reclassification adjustments from accumulated other comprehensive income (3) — — — (3) Balance at end of period $ (145) $ 1 $ (7) $ 26 $ (125) Nine Months Ended September 30, 2021 Balance at beginning of period $ 91 $ 1 $ 2 $ — $ 94 Other comprehensive income (loss) before reclassifications (26) — 1 9 (16) Reclassification adjustments from accumulated other comprehensive income (1) — — — (1) Balance at end of period $ 64 $ 1 $ 3 $ 9 $ 77 (a) There were no material amounts related to available-for-sale debt securities for which an allowance for credit losses was recorded during the three and nine months ended September 30, 2022 and 2021. (b) Other primarily includes changes in the fair value of our mark-to-market derivative instruments that have been designated as cash flow hedges. Reclassification adjustments from accumulated other comprehensive income (loss) to the applicable line item on our consolidated statements of operations were immaterial for the three and nine months ended September 30, 2022 and 2021.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	11. Income Taxes We had a net deferred tax asset of $439 million and $339 million at September 30, 2022 and December 31, 2021, respectively. The increase in our net deferred tax asset of $100 million was primarily related to the change in fair value of investment securities and the increase in our allowance for finance receivable losses. 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. The effective tax rate for the nine months ended September 30, 2022 was 24.6%, compared to 24.2% for the same period in 2021. The effective tax rate for the nine months ended September 30, 2022 and 2021 differed from the federal statutory rate of 21% primarily due to the effect of state income taxes. We are under examination by various states for the years 2017 to 2020. Management believes it has adequately provided for taxes for such years. Our gross unrecognized tax benefits, including related interest and penalties, totaled $5 million at September 30, 2022 and $8 million at December 31, 2021. 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. On August 16, 2022, the Inflation Reduction Act of 2022 (“IRA”) was signed into law. The IRA includes a 15% Corporate Alternative Minimum Tax (“Corporate AMT”) for tax years beginning after December 31, 2022. We do not expect the Corporate AMT to have a material impact on our consolidated financial statements. Additionally, the IRA imposes a 1% excise tax on net repurchases of stock by certain publicly traded corporations. The excise tax is imposed on the value of the net stock repurchased or treated as repurchased. The new law will apply to stock repurchases occurring after December 31, 2022.

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Contingencies	12. 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. Additionally, we are, from time to time, in the normal course of business, subject to inquiries and investigations by federal, state and local governmental authorities regarding our products and our operations. These inquiries and investigations may result in fines, restitution or other penalties, including injunctive relief that may result in restrictions on our business. 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 range of 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. In March 2022, the staff of the United States Consumer Financial Protection Bureau (“CFPB”) notified us that, in accordance with the CFPB’s discretionary Notice and Opportunity to Respond and Advise (“NORA”) process, it is considering recommending that the CFPB take legal action against the Company in connection with alleged violations of the Consumer Financial Protection Act, 12 U.S.C. §§ 5531, 5536. The staff’s investigation is focused on certain refunding practices for optional insurance and membership plan products that were subsequently canceled by the consumer after purchase. We are cooperating with the CFPB in this matter and expect ongoing interactions. Although the Company believes it has not violated the Consumer Financial Protection Act, we are unable to estimate how long this investigation will continue, whether and in what manner the CFPB may commence legal action, or what the ultimate outcome of this matter will be. Should the CFPB opt to commence legal proceedings, it may seek civil monetary penalties, restitution, injunctive relief, or other damages. The Company does not currently believe that the outcome of this matter will have a material adverse effect on our business, financial condition, or results of operations.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Segment Information	13. Segment Information At September 30, 2022, Consumer and Insurance (“C&I”) is our only reportable segment. The remaining components (which we refer to as “Other”) consist of our liquidating SpringCastle Portfolio servicing activity and 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 2 and Note 17 of the Notes to the Consolidated Financial Statements in Part II - Item 8 included in our Annual Report. 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 Three Months Ended September 30, 2022 Interest income $ 1,116 $ 2 $ — $ 1,118 Interest expense 221 1 1 223 Provision for finance receivable losses 420 — 1 421 Net interest income after provision for finance receivable losses 475 1 (2) 474 Other revenues 168 3 (1) 170 Other expenses 392 3 (1) 394 Income before income tax expense $ 251 $ 1 $ (2) $ 250 Three Months Ended September 30, 2021 Interest income $ 1,111 $ 1 $ 1 $ 1,113 Interest expense 235 1 1 237 Provision for finance receivable losses 224 — 2 226 Net interest income after provision for finance receivable losses 652 — (2) 650 Other revenues 151 4 — 155 Other expenses 415 5 9 429 Income (loss) before income tax expense (benefit) $ 388 $ (1) $ (11) $ 376 Nine Months Ended September 30, 2022 Interest income $ 3,308 $ 4 $ 1 $ 3,313 Interest expense 657 2 2 661 Provision for finance receivable losses 995 — 3 998 Net interest income after provision for finance receivable losses 1,656 2 (4) 1,654 Other revenues 451 10 (1) 460 Other expenses 1,179 11 (2) 1,188 Income before income tax expense $ 928 $ 1 $ (3) $ 926 Assets $ 20,281 $ 40 $ 2,020 $ 22,341 Nine Months Ended September 30, 2021 Interest income $ 3,237 $ 4 $ 3 $ 3,244 Interest expense 698 3 2 703 Provision for finance receivable losses 351 — 5 356 Net interest income after provision for finance receivable losses 2,188 1 (4) 2,185 Other revenues 395 10 (9) 396 Other expenses 1,154 17 24 1,195 Income (loss) before income tax expense (benefit) $ 1,429 $ (6) $ (37) $ 1,386 Assets $ 19,897 $ 44 $ 2,022 $ 21,963

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	14. Fair Value Measurements The accounting policies of our fair value measurements are the same as those disclosed in Note 2 and Note 18 of the Notes to the Consolidated Financial Statements in Part II - Item 8 included in our Annual Report. 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 September 30, 2022 Assets Cash and cash equivalents $ 536 $ — $ — $ 536 $ 536 Investment securities 50 1,687 10 1,747 1,747 Net finance receivables, less allowance for finance receivable losses — — 19,542 19,542 17,497 Restricted cash and restricted cash equivalents 483 — — 483 483 Other assets * — — 45 45 37 Liabilities Long-term debt $ — $ 16,530 $ — $ 16,530 $ 18,202 December 31, 2021 Assets Cash and cash equivalents $ 535 $ 6 $ — $ 541 $ 541 Investment securities 59 1,927 6 1,992 1,992 Net finance receivables, less allowance for finance receivable losses — — 20,083 20,083 17,117 Restricted cash and restricted cash equivalents 476 — — 476 476 Other assets * — — 52 52 46 Liabilities Long-term debt $ — $ 18,781 $ — $ 18,781 $ 17,750 * Other assets at September 30, 2022 and December 31, 2021 primarily consists of finance receivables held for sale. 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 September 30, 2022 Assets Cash equivalents in mutual funds $ 26 $ — $ — $ 26 Investment securities: Available-for-sale securities U.S. government and government sponsored entities — 11 — 11 Obligations of states, municipalities, and political subdivisions — 64 — 64 Commercial paper — 53 — 53 Non-U.S. government and government sponsored entities — 135 — 135 Corporate debt 6 1,105 3 1,114 RMBS — 178 6 184 CMBS — 36 — 36 CDO/ABS — 80 — 80 Total available-for-sale securities 6 1,662 9 1,677 Other securities Bonds: Corporate debt — 8 — 8 RMBS — 1 — 1 CDO/ABS — 16 — 16 Total bonds — 25 — 25 Preferred stock 16 — — 16 Common stock 28 — 1 29 Total other securities 44 25 1 70 Total investment securities 50 1,687 10 1,747 Restricted cash equivalents in mutual funds 476 — — 476 Total $ 552 $ 1,687 $ 10 $ 2,249 Fair Value Measurements Using Total Carried At Fair Value (dollars in millions) Level 1 Level 2 Level 3 December 31, 2021 Assets Cash equivalents in mutual funds $ 41 $ — $ — $ 41 Cash equivalents in securities — 6 — 6 Investment securities: Available-for-sale securities U.S. government and government sponsored entities — 16 — 16 Obligations of states, municipalities, and political subdivisions — 79 — 79 Commercial paper — 50 — 50 Non-U.S. government and government sponsored entities — 155 — 155 Corporate debt 5 1,292 5 1,302 RMBS — 170 — 170 CMBS — 45 — 45 CDO/ABS — 90 — 90 Total available-for-sale securities 5 1,897 5 1,907 Other securities Bonds: Corporate debt — 9 — 9 RMBS — 1 — 1 CDO/ABS — 20 — 20 Total bonds — 30 — 30 Preferred stock 22 — — 22 Common stock 32 — 1 33 Total other securities 54 30 1 85 Total investment securities 59 1,927 6 1,992 Restricted cash equivalents in mutual funds 468 — — 468 Total $ 568 $ 1,933 $ 6 $ 2,507 Due to the insignificant activity within the Level 3 assets during the three and nine months ended September 30, 2022 and 2021, 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 during the three and nine months ended September 30, 2022 and 2021. FAIR VALUE MEASUREMENTS — VALUATION METHODOLOGIES AND ASSUMPTIONS See Note 18 of the Notes to the Consolidated Financial Statements in Part II - Item 8 included in our Annual Report for information regarding our methods and assumptions used to estimate fair value.

Business and Basis of Present_2

Business and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
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.
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.
USE OF 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. We evaluated the effects of and the need to disclose events that occurred subsequent to the balance sheet date.
ACCOUNTING PRONOUNCEMENTS TO BE ADOPTED	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. Upon adoption, our assumptions used to measure the liability for future policy benefits will be updated at least annually. The guidance requires the discount rate used to measure the liability to be an upper-medium grade fixed-income instrument yield and updated at each reporting date with changes in the liability due to the discount rate recognized in other comprehensive income. The amendments in this ASU become effective for the Company beginning January 1, 2023 and we have selected the modified retrospective transition method, which requires a transition date of January 1, 2021. The Company’s cross-functional implementation team continues to make progress in line with the established project plan to ensure we comply with all the amendments in this ASU at the time of adoption. The Company’s long-duration contracts include whole life, term life, accidental death and dismemberment, and disability income protection. We are utilizing an actuarial software solution to meet the new accounting and disclosure requirements and continue to refine the development of the actuarial model and assumptions. After the model has been subject to a parallel testing phase in 2022, the Company will provide further disclosure regarding the estimated impact of the adoption of the ASU on our consolidated financial statements. At the transition date, we expect this ASU will result in an increase to insurance claims and policyholder liabilities that will primarily be driven by the remeasured discount rate, resulting in a reduction to accumulated other comprehensive income, net of tax. We expect this impact would reverse over the transition period as interest rates continue to rise. We expect the impact to retained earnings to be immaterial. Financial Instruments In March of 2022, the FASB issued ASU 2022-02, Financial Instruments - Credit Losses: Troubled Debt Restructurings and Vintage Disclosures , which eliminates the accounting for troubled debt restructurings by creditors while enhancing the disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. The amendment also requires disclosure of gross charge-offs by year of origination for finance receivables. The amendments in this ASU are effective for the Company for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted. Management will adopt this ASU using the modified retrospective method effective January 1, 2023. We are currently evaluating whether adoption of this ASU will have a material impact 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 (Tables)

Finance Receivables (Tables)	9 Months Ended
	Sep. 30, 2022
Receivables [Abstract]
Schedule of components of net finance receivables by type	Components of our net finance receivables were as follows: (dollars in millions) Personal Loans Credit Cards Total September 30, 2022 Gross finance receivables (a) $ 19,428 $ 79 $ 19,507 Unearned fees (223) — (223) Accrued finance charges and fees 280 — 280 Deferred origination costs 188 — 188 Total $ 19,673 $ 79 $ 19,752 December 31, 2021 Gross finance receivables (a) $ 18,944 $ 24 $ 18,968 Unearned fees (225) (1) (226) Accrued finance charges and fees 289 — 289 Deferred origination costs 179 2 181 Total $ 19,187 $ 25 $ 19,212
Summary of net finance receivables by type and by days delinquent	The following tables below are a summary of our personal loans by the year of origination and number of days delinquent: (dollars in millions) 2022 2021 2020 2019 2018 Prior Total September 30, 2022 Performing Current $ 8,627 $ 6,034 $ 2,151 $ 1,365 $ 336 $ 133 $ 18,646 30-59 days past due 88 143 47 32 10 6 326 60-89 days past due 54 108 34 21 6 4 227 Total performing 8,769 6,285 2,232 1,418 352 143 19,199 Nonperforming (Nonaccrual) 90+ days past due 63 258 84 48 14 7 474 Total $ 8,832 $ 6,543 $ 2,316 $ 1,466 $ 366 $ 150 $ 19,673 (dollars in millions) 2021 2020 2019 2018 2017 Prior Total December 31, 2021 Performing Current $ 10,645 $ 3,935 $ 2,641 $ 814 $ 193 $ 109 $ 18,337 30-59 days past due 125 74 53 19 6 5 282 60-89 days past due 81 53 33 11 4 3 185 Total performing 10,851 4,062 2,727 844 203 117 18,804 Nonperforming (Nonaccrual) 90+ days past due 125 130 85 28 9 6 383 Total $ 10,976 $ 4,192 $ 2,812 $ 872 $ 212 $ 123 $ 19,187 The following is a summary of credit cards by number of days delinquent: (dollars in millions) September 30, 2022 December 31, 2021 Current $ 69 $ 25 30-59 days past due 3 — 60-89 days past due 2 — 90+ days past due 5 — Total $ 79 $ 25
Schedule of information regarding TDR finance receivables	Information regarding TDR finance receivables were as follows: (dollars in millions) September 30, 2022 December 31, 2021 TDR gross finance receivables $ 797 $ 646 TDR net finance receivables * 802 650 Allowance for TDR finance receivable losses 307 270 * TDR net finance receivables are TDR gross finance receivables net of unearned fees, accrued finance charges, and deferred origination costs.
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 were as follows: Three Months Ended Nine Months Ended (dollars in millions) 2022 2021 2022 2021 Pre-modification TDR net finance receivables $ 245 $ 105 $ 521 $ 332 Post-modification TDR net finance receivables: Rate reduction 172 72 342 228 Other * 73 33 179 104 Total post-modification TDR net finance receivables $ 245 $ 105 $ 521 $ 332 Number of TDR accounts 29,448 12,528 63,129 40,727 * “Other” modifications primarily consist of loans with both rate reductions and the potential of principal 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	Finance receivables 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 Nine Months Ended (dollars in millions) 2022 2021 2022 2021 TDR net finance receivables * $ 34 $ 31 $ 94 $ 88 Number of TDR accounts 4,348 4,221 11,906 12,147 * 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)	9 Months Ended
	Sep. 30, 2022
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: (dollars in millions) Personal Loans Credit Cards Total Three Months Ended September 30, 2022 Balance at beginning of period $ 2,115 $ 12 $ 2,127 Provision for finance receivable losses 415 6 421 Charge-offs (349) (3) (352) Recoveries 59 — 59 Balance at end of period $ 2,240 $ 15 $ 2,255 Three Months Ended September 30, 2021* Balance at beginning of period $ 2,000 $ — $ 2,000 Provision for finance receivable losses 226 — 226 Charge-offs (223) — (223) Recoveries 58 — 58 Balance at end of period $ 2,061 $ — $ 2,061 Nine Months Ended September 30, 2022 Balance at beginning of period $ 2,090 $ 5 $ 2,095 Provision for finance receivable losses 985 13 998 Charge-offs (1,029) (3) (1,032) Recoveries 194 — 194 Balance at end of period $ 2,240 $ 15 $ 2,255 Nine Months Ended September 30, 2021* Balance at beginning of period $ 2,269 $ — $ 2,269 Provision for finance receivable losses 356 — 356 Charge-offs (730) — (730) Recoveries 166 — 166 Balance at end of period $ 2,061 $ — $ 2,061 * The allowance for finance receivable losses for credit cards was immaterial for the three and nine months ended September 30, 2021 as the product offering began in the third quarter of 2021.
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) Personal Loans Credit Cards Total September 30, 2022 Allowance for finance receivable losses: Collectively evaluated for impairment $ 1,933 $ 15 $ 1,948 TDR finance receivables 307 — 307 Total $ 2,240 $ 15 $ 2,255 Finance receivables: Collectively evaluated for impairment $ 18,871 $ 79 $ 18,950 TDR finance receivables 802 — 802 Total $ 19,673 $ 79 $ 19,752 Allowance for finance receivable losses as a percentage of finance receivables 11.39 % 19.14 % 11.42 % December 31, 2021 Allowance for finance receivable losses: Collectively evaluated for impairment $ 1,820 $ 5 $ 1,825 TDR finance receivables 270 — 270 Total $ 2,090 $ 5 $ 2,095 Finance receivables: Collectively evaluated for impairment $ 18,537 $ 25 $ 18,562 TDR finance receivables 650 — 650 Total $ 19,187 $ 25 $ 19,212 Allowance for finance receivable losses as a percentage of finance receivables 10.89 % 19.91 % 10.90 %

Investment Securities (Tables)

Investment Securities (Tables)	9 Months Ended
	Sep. 30, 2022
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 September 30, 2022* Fixed maturity available-for-sale securities: U.S. government and government sponsored entities $ 12 $ — $ (1) $ 11 Obligations of states, municipalities, and political subdivisions 72 — (8) 64 Commercial paper 53 — — 53 Non-U.S. government and government sponsored entities 144 — (9) 135 Corporate debt 1,249 — (135) 1,114 Mortgage-backed, asset-backed, and collateralized: RMBS 208 — (24) 184 CMBS 39 — (3) 36 CDO/ABS 89 — (9) 80 Total $ 1,866 $ — $ (189) $ 1,677 December 31, 2021* Fixed maturity available-for-sale securities: U.S. government and government sponsored entities $ 16 $ — $ — $ 16 Obligations of states, municipalities, and political subdivisions 76 3 — 79 Commercial paper 50 — — 50 Non-U.S. government and government sponsored entities 151 4 — 155 Corporate debt 1,246 61 (5) 1,302 Mortgage-backed, asset-backed, and collateralized: RMBS 169 3 (2) 170 CMBS 44 1 — 45 CDO/ABS 90 1 (1) 90 Total $ 1,842 $ 73 $ (8) $ 1,907 * The allowance for credit losses related to our investment securities as of September 30, 2022 and December 31, 2021 were immaterial.
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 September 30, 2022 U.S. government and government sponsored entities $ 10 $ (1) $ 1 $ — $ 11 $ (1) Obligations of states, municipalities, and political subdivisions 57 (7) 6 (1) 63 (8) Commercial paper 53 — — — 53 — Non-U.S. government and government sponsored entities 117 (6) 16 (3) 133 (9) Corporate debt 953 (102) 135 (33) 1,088 (135) Mortgage-backed, asset-backed, and collateralized: RMBS 129 (13) 49 (11) 178 (24) CMBS 29 (3) 7 — 36 (3) CDO/ABS 57 (5) 24 (4) 81 (9) Total $ 1,405 $ (137) $ 238 $ (52) $ 1,643 $ (189) December 31, 2021 U.S. government and government sponsored entities $ 6 $ — $ — $ — $ 6 $ — Obligations of states, municipalities, and political subdivisions 10 — — — 10 — Commercial paper 46 — — — 46 — Non-U.S. government and government sponsored entities 19 — 5 — 24 — Corporate debt 208 (3) 38 (2) 246 (5) Mortgage-backed, asset-backed, and collateralized: RMBS 81 (1) 15 (1) 96 (2) CMBS 7 — — — 7 — CDO/ABS 41 (1) 3 — 44 (1) Total $ 418 $ (5) $ 61 $ (3) $ 479 $ (8)
Schedule of contractual maturities of fixed-maturity available-for-sale securities	Contractual maturities of fixed-maturity available-for-sale securities at September 30, 2022 were as follows: (dollars in millions) Fair Amortized Fixed maturities, excluding mortgage-backed, asset-backed, and collateralized securities: Due in 1 year or less $ 186 $ 187 Due after 1 year through 5 years 514 544 Due after 5 years through 10 years 526 616 Due after 10 years 151 183 Mortgage-backed, asset-backed, and collateralized securities 300 336 Total $ 1,677 $ 1,866
Schedule of fair value of other securities by type	The fair value of other securities by type was as follows: (dollars in millions) September 30, 2022 December 31, 2021 Fixed maturity other securities: Bonds $ 25 $ 30 Preferred stock * 16 22 Common stock * 29 33 Total $ 70 $ 85 * 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)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Schedule of principal maturities of long-term debt	Principal maturities of long-term debt by type of debt at September 30, 2022 were as follows: Senior Debt (dollars in millions) Securitizations Private Secured Term Funding Revolving Unsecured Junior Total Interest rates (b) 0.87%-6.86% 3.30% 3.15%-3.41% 3.50%-8.25% 4.26 % Remainder of 2022 $ — $ — $ — $ — $ — $ — 2023 — — — 1,108 — 1,108 2024 — — — 1,270 — 1,270 2025 — — — 1,249 — 1,249 2026 — — — 1,600 — 1,600 2027-2067 — — — 3,682 350 4,032 Secured (c) 8,374 350 500 — — 9,224 Total principal maturities $ 8,374 $ 350 $ 500 $ 8,909 $ 350 $ 18,483 Total carrying amount $ 8,335 $ 349 $ 500 $ 8,846 $ 172 $ 18,202 Debt issuance costs (d) (37) (1) — (66) — (104) (a) Pursuant to the Base Indenture, the Supplemental Indentures, and the Guaranty Agreements, OMH agreed to fully and unconditionally guarantee, on a senior unsecured basis, payments of principal, premium and interest on the Unsecured Notes and Junior Subordinated Debenture. The OMH guarantees of OMFC’s long-term debt are subject to customary release provisions. (b) The interest rates shown are the range of contractual rates in effect at September 30, 2022. (c) Securitizations, private secured term funding, and borrowings under the 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. See Note 7 for further information on our long-term debt associated with securitizations, private secured term funding, 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 and unsecured corporate revolver, which totaled $29 million at September 30, 2022 and are reported in “Other assets.” (e) During the nine months ended September 30, 2022, we repurchased, in the open market, portions of our Unsecured Notes in the amount of $165 million. In connection with these repurchases, we recognized a gain of $3 million in net gain (loss) on repurchases and repayments of debt.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	9 Months Ended
	Sep. 30, 2022
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, private secured term funding, and revolving conduit facilities were as follows: (dollars in millions) September 30, 2022 December 31, 2021 Assets Cash and cash equivalents $ 3 $ 2 Net finance receivables 10,069 8,821 Allowance for finance receivable losses 1,073 910 Restricted cash and restricted cash equivalents 472 466 Other assets 26 26 Liabilities Long-term debt $ 9,184 $ 7,999 Other liabilities 18 13

Insurance (Tables)

Insurance (Tables)	9 Months Ended
	Sep. 30, 2022
Insurance [Abstract]
Changes in the reserve for unpaid claims and loss adjustment expenses	Changes in the reserve for unpaid claims and loss adjustment expenses (net of reinsurance recoverables): At or for the (dollars in millions) 2022 2021 Balance at beginning of period $ 118 $ 148 Less reinsurance recoverables (3) (3) Net balance at beginning of period 115 145 Additions for losses and loss adjustment expenses incurred to: Current year 142 158 Prior years * (15) (19) Total 127 139 Reductions for losses and loss adjustment expenses paid related to: Current year (77) (91) Prior years (61) (79) Total (138) (170) Foreign currency translation adjustment 1 — Net balance at end of period 105 114 Plus reinsurance recoverables 3 3 Balance at end of period $ 108 $ 117 * At September 30, 2022, $15 million reflected a redundancy in the prior years’ net reserves, primarily due to favorable development of credit life, credit disability, and term life claims during the period. At September 30, 2021, $19 million reflected a redundancy in the prior years’ net reserves, primarily due to favorable development of credit disability and unemployment claims during the period.

Capital Stock and Earnings Pe_2

Capital Stock and Earnings Per Share (OMH Only) (Tables)	9 Months Ended
	Sep. 30, 2022
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 September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Balance at beginning of period 123,726,559 133,884,043 127,809,640 134,341,724 Common stock issued 44,479 4,653 310,751 159,327 Common stock repurchased (1,180,433) (2,435,489) (5,559,382) (3,047,844) Treasury stock issued 28,143 — 57,739 — Balance at end of period 122,618,748 131,453,207 122,618,748 131,453,207
Computation of earnings per share	The computation of earnings per share was as follows: Three Months Ended September 30, Nine Months Ended September 30, (dollars in millions, except per share data) 2022 2021 2022 2021 Numerator (basic and diluted): Net income $ 188 $ 288 $ 698 $ 1,051 Denominator: Weighted average number of shares outstanding (basic) 123,352,522 132,487,234 124,989,263 133,709,146 Effect of dilutive securities * 216,098 437,099 253,943 387,236 Weighted average number of shares outstanding (diluted) 123,568,620 132,924,333 125,243,206 134,096,382 Earnings per share: Basic $ 1.52 $ 2.17 $ 5.58 $ 7.86 Diluted $ 1.52 $ 2.17 $ 5.57 $ 7.84

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2022
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 Other (b) Total Three Months Ended September 30, 2022 Balance at beginning of period $ (95) $ 1 $ 1 $ 23 $ (70) Other comprehensive income (loss) before reclassifications (50) — (8) 3 (55) Balance at end of period $ (145) $ 1 $ (7) $ 26 $ (125) Three Months Ended September 30, 2021 Balance at beginning of period $ 71 $ 1 $ 5 $ 8 $ 85 Other comprehensive income (loss) before reclassifications (7) — (2) 1 (8) Balance at end of period $ 64 $ 1 $ 3 $ 9 $ 77 Nine Months Ended September 30, 2022 Balance at beginning of period $ 49 $ 1 $ 3 $ 8 $ 61 Other comprehensive income (loss) before reclassifications (191) — (10) 18 (183) Reclassification adjustments from accumulated other comprehensive income (3) — — — (3) Balance at end of period $ (145) $ 1 $ (7) $ 26 $ (125) Nine Months Ended September 30, 2021 Balance at beginning of period $ 91 $ 1 $ 2 $ — $ 94 Other comprehensive income (loss) before reclassifications (26) — 1 9 (16) Reclassification adjustments from accumulated other comprehensive income (1) — — — (1) Balance at end of period $ 64 $ 1 $ 3 $ 9 $ 77 (a) There were no material amounts related to available-for-sale debt securities for which an allowance for credit losses was recorded during the three and nine months ended September 30, 2022 and 2021. (b) Other primarily includes changes in the fair value of our mark-to-market derivative instruments that have been designated as cash flow hedges.

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2022
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 Three Months Ended September 30, 2022 Interest income $ 1,116 $ 2 $ — $ 1,118 Interest expense 221 1 1 223 Provision for finance receivable losses 420 — 1 421 Net interest income after provision for finance receivable losses 475 1 (2) 474 Other revenues 168 3 (1) 170 Other expenses 392 3 (1) 394 Income before income tax expense $ 251 $ 1 $ (2) $ 250 Three Months Ended September 30, 2021 Interest income $ 1,111 $ 1 $ 1 $ 1,113 Interest expense 235 1 1 237 Provision for finance receivable losses 224 — 2 226 Net interest income after provision for finance receivable losses 652 — (2) 650 Other revenues 151 4 — 155 Other expenses 415 5 9 429 Income (loss) before income tax expense (benefit) $ 388 $ (1) $ (11) $ 376 Nine Months Ended September 30, 2022 Interest income $ 3,308 $ 4 $ 1 $ 3,313 Interest expense 657 2 2 661 Provision for finance receivable losses 995 — 3 998 Net interest income after provision for finance receivable losses 1,656 2 (4) 1,654 Other revenues 451 10 (1) 460 Other expenses 1,179 11 (2) 1,188 Income before income tax expense $ 928 $ 1 $ (3) $ 926 Assets $ 20,281 $ 40 $ 2,020 $ 22,341 Nine Months Ended September 30, 2021 Interest income $ 3,237 $ 4 $ 3 $ 3,244 Interest expense 698 3 2 703 Provision for finance receivable losses 351 — 5 356 Net interest income after provision for finance receivable losses 2,188 1 (4) 2,185 Other revenues 395 10 (9) 396 Other expenses 1,154 17 24 1,195 Income (loss) before income tax expense (benefit) $ 1,429 $ (6) $ (37) $ 1,386 Assets $ 19,897 $ 44 $ 2,022 $ 21,963

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2022
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 September 30, 2022 Assets Cash and cash equivalents $ 536 $ — $ — $ 536 $ 536 Investment securities 50 1,687 10 1,747 1,747 Net finance receivables, less allowance for finance receivable losses — — 19,542 19,542 17,497 Restricted cash and restricted cash equivalents 483 — — 483 483 Other assets * — — 45 45 37 Liabilities Long-term debt $ — $ 16,530 $ — $ 16,530 $ 18,202 December 31, 2021 Assets Cash and cash equivalents $ 535 $ 6 $ — $ 541 $ 541 Investment securities 59 1,927 6 1,992 1,992 Net finance receivables, less allowance for finance receivable losses — — 20,083 20,083 17,117 Restricted cash and restricted cash equivalents 476 — — 476 476 Other assets * — — 52 52 46 Liabilities Long-term debt $ — $ 18,781 $ — $ 18,781 $ 17,750
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 September 30, 2022 Assets Cash equivalents in mutual funds $ 26 $ — $ — $ 26 Investment securities: Available-for-sale securities U.S. government and government sponsored entities — 11 — 11 Obligations of states, municipalities, and political subdivisions — 64 — 64 Commercial paper — 53 — 53 Non-U.S. government and government sponsored entities — 135 — 135 Corporate debt 6 1,105 3 1,114 RMBS — 178 6 184 CMBS — 36 — 36 CDO/ABS — 80 — 80 Total available-for-sale securities 6 1,662 9 1,677 Other securities Bonds: Corporate debt — 8 — 8 RMBS — 1 — 1 CDO/ABS — 16 — 16 Total bonds — 25 — 25 Preferred stock 16 — — 16 Common stock 28 — 1 29 Total other securities 44 25 1 70 Total investment securities 50 1,687 10 1,747 Restricted cash equivalents in mutual funds 476 — — 476 Total $ 552 $ 1,687 $ 10 $ 2,249 Fair Value Measurements Using Total Carried At Fair Value (dollars in millions) Level 1 Level 2 Level 3 December 31, 2021 Assets Cash equivalents in mutual funds $ 41 $ — $ — $ 41 Cash equivalents in securities — 6 — 6 Investment securities: Available-for-sale securities U.S. government and government sponsored entities — 16 — 16 Obligations of states, municipalities, and political subdivisions — 79 — 79 Commercial paper — 50 — 50 Non-U.S. government and government sponsored entities — 155 — 155 Corporate debt 5 1,292 5 1,302 RMBS — 170 — 170 CMBS — 45 — 45 CDO/ABS — 90 — 90 Total available-for-sale securities 5 1,897 5 1,907 Other securities Bonds: Corporate debt — 9 — 9 RMBS — 1 — 1 CDO/ABS — 20 — 20 Total bonds — 30 — 30 Preferred stock 22 — — 22 Common stock 32 — 1 33 Total other securities 54 30 1 85 Total investment securities 59 1,927 6 1,992 Restricted cash equivalents in mutual funds 468 — — 468 Total $ 568 $ 1,933 $ 6 $ 2,507

Finance Receivables - Additiona

Finance Receivables - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Whole loan sale flow agreement, quarterly loans sold	$ 180		$ 180
Proceeds from sale of gross finance receivables	180	$ 160	540	$ 325
Gain on sale of financing receivables	17	15	50	30
Unused credit card lines	$ 64		$ 64		$ 54
Minimum | Personal Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables, original term			3 years
Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Whole loan sale flow agreement, commitment period			1 year
Maximum | Personal Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables, original term			6 years
Unlikely to be Collected Financing Receivable | Personal Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Threshold period past due	60 days		60 days
Nonperforming (Nonaccrual) | Personal Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Threshold period past due	90 days		90 days
Reversal of net accrued finance charges	$ 34	18	$ 88	52
Interest income	$ 4	2	$ 12	10
Nonperforming (Nonaccrual) | Credit Cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Threshold period past due	180 days		180 days
Reversal of net accrued finance charges		$ 0		$ 0

Finance Receivables - Net Finan

Finance Receivables - Net Finance Receivables by Type (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	$ 19,507	$ 18,968
Unearned fees	(223)	(226)
Accrued finance charges and fees	280	289
Deferred origination costs	188	181
Financing Receivable, before Allowance for Credit Loss, Total	19,752	19,212
Personal Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	19,428	18,944
Unearned fees	(223)	(225)
Accrued finance charges and fees	280	289
Deferred origination costs	188	179
Financing Receivable, before Allowance for Credit Loss, Total	19,673	19,187
Credit Cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	79	24
Unearned fees	0	(1)
Accrued finance charges and fees	0	0
Deferred origination costs	0	2
Financing Receivable, before Allowance for Credit Loss, Total	$ 79	$ 25

Finance Receivables - Delinquen

Finance Receivables - Delinquent and Nonperforming Finance Receivables, by Year of Origination (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Delinquency by finance receivables type
Financing Receivable, before Allowance for Credit Loss, Total	$ 19,752	$ 19,212
Personal Loans
Delinquency by finance receivables type
Year One	8,832	10,976
Prior Year Two	6,543	4,192
Prior Year Three	2,316	2,812
Prior Year Four	1,466	872
Prior Year Five	366	212
Prior Year Six	150	123
Financing Receivable, before Allowance for Credit Loss, Total	19,673	19,187
Performing | Personal Loans
Delinquency by finance receivables type
Year One	8,769	10,851
Prior Year Two	6,285	4,062
Prior Year Three	2,232	2,727
Prior Year Four	1,418	844
Prior Year Five	352	203
Prior Year Six	143	117
Financing Receivable, before Allowance for Credit Loss, Total	19,199	18,804
Performing | Current | Personal Loans
Delinquency by finance receivables type
Year One	8,627	10,645
Prior Year Two	6,034	3,935
Prior Year Three	2,151	2,641
Prior Year Four	1,365	814
Prior Year Five	336	193
Prior Year Six	133	109
Financing Receivable, before Allowance for Credit Loss, Total	18,646	18,337
Performing | 30-59 days past due | Personal Loans
Delinquency by finance receivables type
Year One	88	125
Prior Year Two	143	74
Prior Year Three	47	53
Prior Year Four	32	19
Prior Year Five	10	6
Prior Year Six	6	5
Financing Receivable, before Allowance for Credit Loss, Total	326	282
Performing | 60-89 days past due | Personal Loans
Delinquency by finance receivables type
Year One	54	81
Prior Year Two	108	53
Prior Year Three	34	33
Prior Year Four	21	11
Prior Year Five	6	4
Prior Year Six	4	3
Financing Receivable, before Allowance for Credit Loss, Total	227	185
Nonperforming (Nonaccrual) | 90+ days past due | Personal Loans
Delinquency by finance receivables type
Year One	63	125
Prior Year Two	258	130
Prior Year Three	84	85
Prior Year Four	48	28
Prior Year Five	14	9
Prior Year Six	7	6
Financing Receivable, before Allowance for Credit Loss, Total	$ 474	$ 383

Finance Receivables - Summary o

Finance Receivables - Summary of Credit Cards by Number of Days Delinquent (Details) - Credit Cards - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Delinquency by finance receivables type
Financing receivable	$ 79	$ 25
Current
Delinquency by finance receivables type
Financing receivable	69	25
30-59 days past due
Delinquency by finance receivables type
Financing receivable	3	0
60-89 days past due
Delinquency by finance receivables type
Financing receivable	2	0
90+ days past due
Delinquency by finance receivables type
Financing receivable	$ 5	$ 0

Finance Receivables - TDR Finan

Finance Receivables - TDR Finance Receivables (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Receivables [Abstract]
TDR gross finance receivables	$ 797	$ 646
TDR net finance receivables	802	650
Allowance for TDR finance receivable losses	$ 307	$ 270

Finance Receivables - New Volum

Finance Receivables - New Volume of TDR HFI & HFS Finance Receivables (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($) account	Sep. 30, 2021 USD ($) account	Sep. 30, 2022 USD ($) account	Sep. 30, 2021 USD ($) account
Financing Receivable, Troubled Debt Restructuring [Line Items]
Pre-modification TDR net finance receivables	$ 245	$ 105	$ 521	$ 332
Total post-modification TDR net finance receivables	$ 245	$ 105	$ 521	$ 332
Number of TDR accounts | account	29,448	12,528	63,129	40,727
Rate reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total post-modification TDR net finance receivables	$ 172	$ 72	$ 342	$ 228
Other
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total post-modification TDR net finance receivables	$ 73	$ 33	$ 179	$ 104

Finance Receivables - Modified

Finance Receivables - Modified as TDR - Non Performing Finance Receivables (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($) account	Sep. 30, 2021 USD ($) account	Sep. 30, 2022 USD ($) account	Sep. 30, 2021 USD ($) account
Receivables [Abstract]
TDR net finance receivables | $	$ 34	$ 31	$ 94	$ 88
Number of TDR accounts | account	4,348	4,221	11,906	12,147

Allowance for Finance Receiva_3

Allowance for Finance Receivable Losses - Changes in Allowance by Type (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Changes in allowance for finance receivable losses
Balance at beginning of period	$ 2,127	$ 2,000	$ 2,095	$ 2,269
Provision for finance receivable losses	421	226	998	356
Charge-offs	(352)	(223)	(1,032)	(730)
Recoveries	59	58	194	166
Balance at end of period	2,255	2,061	2,255	2,061
Personal Loans
Changes in allowance for finance receivable losses
Balance at beginning of period	2,115	2,000	2,090	2,269
Provision for finance receivable losses	415	226	985	356
Charge-offs	(349)	(223)	(1,029)	(730)
Recoveries	59	58	194	166
Balance at end of period	2,240	2,061	2,240	2,061
Credit Cards
Changes in allowance for finance receivable losses
Balance at beginning of period	12	0	5	0
Provision for finance receivable losses	6	0	13	0
Charge-offs	(3)	0	(3)	0
Recoveries	0	0	0	0
Balance at end of period	$ 15	$ 0	$ 15	$ 0

Allowance for Finance Receiva_4

Allowance for Finance Receivable Losses - By Type and Impairment Method (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021	Jun. 30, 2022	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Allowance for finance receivable losses:
Collectively evaluated for impairment	$ 1,948	$ 1,825
TDR finance receivables	307	270
Total	2,255	2,095	$ 2,127	$ 2,061	$ 2,000	$ 2,269
Finance receivables:
Collectively evaluated for impairment	18,950	18,562
TDR finance receivables	802	650
Net finance receivables	$ 19,752	$ 19,212
Allowance for finance receivable losses as a percentage of finance receivables	11.42%	10.90%
Personal Loans
Allowance for finance receivable losses:
Collectively evaluated for impairment	$ 1,933	$ 1,820
TDR finance receivables	307	270
Total	2,240	2,090	2,115	2,061	2,000	2,269
Finance receivables:
Collectively evaluated for impairment	18,871	18,537
TDR finance receivables	802	650
Net finance receivables	$ 19,673	$ 19,187
Allowance for finance receivable losses as a percentage of finance receivables	11.39%	10.89%
Credit Cards
Allowance for finance receivable losses:
Collectively evaluated for impairment	$ 15	$ 5
TDR finance receivables	0	0
Total	15	5	$ 12	$ 0	$ 0	$ 0
Finance receivables:
Collectively evaluated for impairment	79	25
TDR finance receivables	0	0
Net finance receivables	$ 79	$ 25
Allowance for finance receivable losses as a percentage of finance receivables	19.14%	19.91%

Investment Securities - Cost_Am

Investment Securities - Cost/Amortized, Unrealized Gains/Losses & FV on AFS Investment Securities (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	$ 1,866	$ 1,842
Unrealized Gains	0	73
Unrealized Losses	(189)	(8)
Fair Value	1,677	1,907
U.S. government and government sponsored entities
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	12	16
Unrealized Gains	0	0
Unrealized Losses	(1)	0
Fair Value	11	16
Obligations of states, municipalities, and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	72	76
Unrealized Gains	0	3
Unrealized Losses	(8)	0
Fair Value	64	79
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	53	50
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	53	50
Non-U.S. government and government sponsored entities
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	144	151
Unrealized Gains	0	4
Unrealized Losses	(9)	0
Fair Value	135	155
Corporate debt
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	1,249	1,246
Unrealized Gains	0	61
Unrealized Losses	(135)	(5)
Fair Value	1,114	1,302
RMBS
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	208	169
Unrealized Gains	0	3
Unrealized Losses	(24)	(2)
Fair Value	184	170
CMBS
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	39	44
Unrealized Gains	0	1
Unrealized Losses	(3)	0
Fair Value	36	45
CDO/ABS
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	89	90
Unrealized Gains	0	1
Unrealized Losses	(9)	(1)
Fair Value	$ 80	$ 90

Investment Securities - Additio

Investment Securities - Additional Information (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($) investment	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) investment	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($) investment
Investments, Debt and Equity Securities [Abstract]
Interest receivable	$ 14,000,000		$ 14,000,000		$ 13,000,000
Investment securities in an unrealized loss position | investment	2,315		2,315		570
Proceeds from sales and redemptions	$ 34,000,000	$ 50,000,000	$ 235,000,000	$ 189,000,000
Securities on deposit with third parties	534,000,000		534,000,000		$ 587,000,000
Net unrealized losses on other securities held	$ 0	$ 0	$ (12,000,000)	$ 0

Investment Securities - Fair Va

Investment Securities - Fair Value and Unrealized Losses on AFS Investment Securities (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Fair Value
Less Than 12 Months	$ 1,405	$ 418
12 Months or Longer	238	61
Total	1,643	479
Unrealized Losses
Less Than 12 Months	(137)	(5)
12 Months or Longer	(52)	(3)
Total	(189)	(8)
U.S. government and government sponsored entities
Fair Value
Less Than 12 Months	10	6
12 Months or Longer	1	0
Total	11	6
Unrealized Losses
Less Than 12 Months	(1)	0
12 Months or Longer	0	0
Total	(1)	0
Obligations of states, municipalities, and political subdivisions
Fair Value
Less Than 12 Months	57	10
12 Months or Longer	6	0
Total	63	10
Unrealized Losses
Less Than 12 Months	(7)	0
12 Months or Longer	(1)	0
Total	(8)	0
Commercial paper
Fair Value
Less Than 12 Months	53	46
12 Months or Longer	0	0
Total	53	46
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	117	19
12 Months or Longer	16	5
Total	133	24
Unrealized Losses
Less Than 12 Months	(6)	0
12 Months or Longer	(3)	0
Total	(9)	0
Corporate debt
Fair Value
Less Than 12 Months	953	208
12 Months or Longer	135	38
Total	1,088	246
Unrealized Losses
Less Than 12 Months	(102)	(3)
12 Months or Longer	(33)	(2)
Total	(135)	(5)
RMBS
Fair Value
Less Than 12 Months	129	81
12 Months or Longer	49	15
Total	178	96
Unrealized Losses
Less Than 12 Months	(13)	(1)
12 Months or Longer	(11)	(1)
Total	(24)	(2)
CMBS
Fair Value
Less Than 12 Months	29	7
12 Months or Longer	7	0
Total	36	7
Unrealized Losses
Less Than 12 Months	(3)	0
12 Months or Longer	0	0
Total	(3)	0
CDO/ABS
Fair Value
Less Than 12 Months	57	41
12 Months or Longer	24	3
Total	81	44
Unrealized Losses
Less Than 12 Months	(5)	(1)
12 Months or Longer	(4)	0
Total	$ (9)	$ (1)

Investment Securities - Contrac

Investment Securities - Contractual Maturities of AFS Investment Securities (Details) $ in Millions	Sep. 30, 2022 USD ($)
Fixed maturities, excluding mortgage-backed, asset-backed, and collateralized securities:
Due in 1 year or less	$ 186
Due after 1 year through 5 years	514
Due after 5 years through 10 years	526
Due after 10 years	151
Mortgage-backed, asset-backed, and collateralized securities	300
Total	1,677
Fixed maturities, excluding mortgage-backed, asset-backed, and collateralized securities:
Due in 1 year or less	187
Due after 1 year through 5 years	544
Due after 5 years through 10 years	616
Due after 10 years	183
Mortgage-backed, asset-backed, and collateralized securities	336
Cost/ Amortized Cost	$ 1,866

Investment Securities - Fair _2

Investment Securities - Fair Value of Other Securities (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Debt and Equity Securities, FV-NI [Line Items]
Bonds	$ 25	$ 30
Total	70	85
Preferred stock
Debt and Equity Securities, FV-NI [Line Items]
Equity securities	16	22
Common stock
Debt and Equity Securities, FV-NI [Line Items]
Equity securities	$ 29	$ 33

Long-term Debt - Principal Matu

Long-term Debt - Principal Maturities of Long-Term Debt (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Principal maturities of long-term debt by type of debt
Remainder of 2022	$ 0
2023	1,108
2024	1,270
2025	1,249
2026	1,600
2027-2067	4,032
Secured	9,224
Total principal maturities	18,483
Long-term debt	18,202	$ 17,750
Debt issuance costs	(104)
Securitizations
Principal maturities of long-term debt by type of debt
Remainder of 2022	0
2023	0
2024	0
2025	0
2026	0
2027-2067	0
Secured	8,374
Total principal maturities	8,374
Long-term debt	8,335
Debt issuance costs	$ (37)
Securitizations | Minimum
Long-term debt
Interest rate	0.87%
Securitizations | Maximum
Long-term debt
Interest rate	6.86%
Private Secured Term Funding
Principal maturities of long-term debt by type of debt
Remainder of 2022	$ 0
2023	0
2024	0
2025	0
2026	0
2027-2067	0
Secured	350
Total principal maturities	350
Long-term debt	349
Debt issuance costs	$ (1)
Private Secured Term Funding | Minimum
Long-term debt
Interest rate	3.30%
Revolving Conduit Facilities
Principal maturities of long-term debt by type of debt
Remainder of 2022	$ 0
2023	0
2024	0
2025	0
2026	0
2027-2067	0
Secured	500
Total principal maturities	500
Long-term debt	500
Debt issuance costs	$ 0
Revolving Conduit Facilities | Minimum
Long-term debt
Interest rate	3.15%
Revolving Conduit Facilities | Maximum
Long-term debt
Interest rate	3.41%
Unsecured Notes | Revolving Conduit Facilities
Principal maturities of long-term debt by type of debt
Debt issuance costs	$ 29
Unsecured Notes | Unsecured Notes
Principal maturities of long-term debt by type of debt
Remainder of 2022	0
2023	1,108
2024	1,270
2025	1,249
2026	1,600
2027-2067	3,682
Total principal maturities	8,909
Long-term debt	8,846
Debt issuance costs	(66)
Repurchase amount	165
Gain on repurchase of debt	$ 3
Unsecured Notes | Unsecured Notes | Minimum
Long-term debt
Interest rate	3.50%
Unsecured Notes | Unsecured Notes | Maximum
Long-term debt
Interest rate	8.25%
Junior Subordinated Debt
Long-term debt
Interest rate	4.26%
Principal maturities of long-term debt by type of debt
Remainder of 2022	$ 0
2023	0
2024	0
2025	0
2026	0
2027-2067	350
Total principal maturities	350
Long-term debt	172
Debt issuance costs	$ 0

Long-term Debt- Narrative (Deta

Long-term Debt- Narrative (Details) - USD ($)			3 Months Ended	9 Months Ended
	Jun. 15, 2022	Apr. 26, 2022	Jun. 30, 2022	Sep. 30, 2022	Sep. 30, 2021	May 14, 2020
Debt Instrument [Line Items]
Repayments of long-term debt				$ 4,080,000,000	$ 2,384,000,000
OMFC
Debt Instrument [Line Items]
Repayments of long-term debt				4,080,000,000	$ 2,384,000,000
Revolver | Securitizations | OMFC
Debt Instrument [Line Items]
Total borrowing capacity	$ 1,250,000,000
Debt instrument, term	5 years
Outstanding balance				$ 0
8.875% Senior Notes due 2025 | Senior Notes
Debt Instrument [Line Items]
Interest rate						8.875%
Repayments of long-term debt		$ 637,000,000
Loss on repurchase and repayments of debt			$ 26,000,000

Variable Interest Entities - Ca

Variable Interest Entities - Carrying Amount of Consolidated VIEs (Details) - USD ($) $ in Millions	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Variable Interest Entity [Line Items]
Cash and cash equivalents	$ 536		$ 541	$ 821
Net finance receivables	19,752		19,212
Allowance for finance receivable losses	2,255	$ 2,127	2,095	2,061	$ 2,000	$ 2,269
Restricted cash and restricted cash equivalents	483		476	$ 459
Other assets	1,116		1,003
Long-term debt	18,202		17,750
Consolidated VIEs
Variable Interest Entity [Line Items]
Cash and cash equivalents	3		2
Net finance receivables	10,069		8,821
Allowance for finance receivable losses	1,073		910
Restricted cash and restricted cash equivalents	472		466
Other assets	26		26
Long-term debt	9,184		7,999
Other liabilities	$ 18		$ 13

Variable Interest Entities - Co

Variable Interest Entities - Consolidated VIEs (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Variable Interest Entity [Line Items]
Interest expense	$ 223	$ 237	$ 661	$ 703
Consolidated VIEs
Variable Interest Entity [Line Items]
Interest expense	$ 81	$ 72	$ 214	$ 225

Variable Interest Entities - Se

Variable Interest Entities - Securitized Borrowings (Details)	9 Months Ended
	Sep. 30, 2022
Minimum
Debt Instrument [Line Items]
Revolving period	2 years
Maximum
Debt Instrument [Line Items]
Revolving period	7 years

Variable Interest Entities - Pr

Variable Interest Entities - Private Secured Term Funding (Details) - Private Secured Term Funding - Consolidated VIEs	9 Months Ended
	Sep. 30, 2022 USD ($)
Debt Instrument [Line Items]
Debt instrument, principal amount	$ 350,000,000
Payments required in first 3 years	$ 0
Amortization period after first 3 years	1 year

Variable Interest Entities - Re

Variable Interest Entities - Revolving Conduit Facilities (Details) - Consolidated VIEs - Securitizations $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($) facility
Line of Credit Facility [Line Items]
Number of conduit facilities | facility	15
Total borrowing capacity	$ 6,200
Debt instrument, term	8 years
Amounts drawn	$ 500
Remaining borrowing capacity	$ 5,700

Insurance - Changes in the Rese

Insurance - Changes in the Reserve for Unpaid Claims and Loss Adjustment Expenses (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Liability for unpaid claims and claims adjustment expense
Balance at beginning of period	$ 118	$ 148
Less reinsurance recoverables	(3)	(3)	$ (3)	$ (3)
Net balance at beginning of period			115	145
Additions for losses and loss adjustment expenses incurred to:
Current year	142	158
Prior years	(15)	(19)
Total	127	139
Reductions for losses and loss adjustment expenses paid related to:
Current year	(77)	(91)
Prior years	(61)	(79)
Total	(138)	(170)
Foreign currency translation adjustment	1	0
Net balance at end of period	105	114
Plus reinsurance recoverables	3	3	$ 3	$ 3
Balance at end of period	$ 108	$ 117

Capital Stock and Earnings Pe_3

Capital Stock and Earnings Per Share (OMH Only) - Additional Information (Details)	9 Months Ended
	Sep. 30, 2022 class
Earnings Per Share [Abstract]
Number of classes of authorized stock	2

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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	123,726,559	133,884,043	127,809,640	134,341,724
Common stock issued (in shares)	44,479	4,653	310,751	159,327
Common stock repurchased (in shares)	(1,180,433)	(2,435,489)	(5,559,382)	(3,047,844)
Treasury stock issued (in shares)	28,143	0	57,739	0
Ending balance (in shares)	122,618,748	131,453,207	122,618,748	131,453,207

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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Numerator (basic and diluted):
Net income	$ 188	$ 288	$ 698	$ 1,051
Denominator:
Weighted average number of shares outstanding (basic) (in shares)	123,352,522	132,487,234	124,989,263	133,709,146
Effect of dilutive securities (in shares)	216,098	437,099	253,943	387,236
Weighted average number of shares outstanding (diluted) (in shares)	123,568,620	132,924,333	125,243,206	134,096,382
Earnings per share:
Basic (in dollars per share)	$ 1.52	$ 2.17	$ 5.58	$ 7.86
Diluted (in dollars per share)	$ 1.52	$ 2.17	$ 5.57	$ 7.84
Restricted stock units
Earnings per share:
Shares excluded in the diluted earnings per share calculation (in shares)	1,278,052	491,541	1,230,739	322,430

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	$ 3,033	$ 3,537	$ 3,093	$ 3,441
Other comprehensive income (loss) before reclassifications	(55)	(8)	(183)	(16)
Reclassification adjustments from accumulated other comprehensive income			(3)	(1)
Balance at end of period	3,012	3,121	3,012	3,121
Unrealized Gains (Losses) Available-for-Sale Securities
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	(95)	71	49	91
Other comprehensive income (loss) before reclassifications	(50)	(7)	(191)	(26)
Reclassification adjustments from accumulated other comprehensive income			(3)	(1)
Balance at end of period	(145)	64	(145)	64
Retirement Plan Liabilities Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	1	1	1	1
Other comprehensive income (loss) before reclassifications	0	0	0	0
Reclassification adjustments from accumulated other comprehensive income			0	0
Balance at end of period	1	1	1	1
Foreign Currency Translation Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	1	5	3	2
Other comprehensive income (loss) before reclassifications	(8)	(2)	(10)	1
Reclassification adjustments from accumulated other comprehensive income			0	0
Balance at end of period	(7)	3	(7)	3
Other
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	23	8	8	0
Other comprehensive income (loss) before reclassifications	3	1	18	9
Reclassification adjustments from accumulated other comprehensive income			0	0
Balance at end of period	26	9	26	9
Total Accumulated Other Comprehensive Income (Loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	(70)	85	61	94
Balance at end of period	$ (125)	$ 77	$ (125)	$ 77

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Net deferred tax asset	$ 439		$ 339
Increase in deferred tax asset	$ 100
Effective tax rate	24.60%	24.20%
Unrecognized tax benefits	$ 5		$ 8

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Segment Reporting Information [Line Items]
Interest income	$ 1,118	$ 1,113	$ 3,313	$ 3,244
Interest expense	223	237	661	703
Provision for finance receivable losses	421	226	998	356
Net interest income after provision for finance receivable losses	474	650	1,654	2,185
Total other revenues	170	155	460	396
Total other expenses	394	429	1,188	1,195
Income before income taxes	250	376	926	1,386
Total assets	22,341	21,963	22,341	21,963	$ 22,079
Consumer and Insurance | Consumer and Insurance
Segment Reporting Information [Line Items]
Interest income	1,116	1,111	3,308	3,237
Interest expense	221	235	657	698
Provision for finance receivable losses	420	224	995	351
Net interest income after provision for finance receivable losses	475	652	1,656	2,188
Total other revenues	168	151	451	395
Total other expenses	392	415	1,179	1,154
Income before income taxes	251	388	928	1,429
Total assets	20,281	19,897	20,281	19,897
Other
Segment Reporting Information [Line Items]
Interest income	2	1	4	4
Interest expense	1	1	2	3
Provision for finance receivable losses	0	0	0	0
Net interest income after provision for finance receivable losses	1	0	2	1
Total other revenues	3	4	10	10
Total other expenses	3	5	11	17
Income before income taxes	1	(1)	1	(6)
Total assets	40	44	40	44
Segment to GAAP Adjustment
Segment Reporting Information [Line Items]
Interest income	0	1	1	3
Interest expense	1	1	2	2
Provision for finance receivable losses	1	2	3	5
Net interest income after provision for finance receivable losses	(2)	(2)	(4)	(4)
Total other revenues	(1)	0	(1)	(9)
Total other expenses	(1)	9	(2)	24
Income before income taxes	(2)	(11)	(3)	(37)
Total assets	$ 2,020	$ 2,022	$ 2,020	$ 2,022

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value & Carrying Value Hierarchy Basis (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021
Assets
Restricted cash and restricted cash equivalents	$ 483	$ 476	$ 459
Total Fair Value
Assets
Cash and cash equivalents	536	541
Investment securities	1,747	1,992
Net finance receivables, less allowance for finance receivable losses	19,542	20,083
Restricted cash and restricted cash equivalents	483	476
Other assets	45	52
Liabilities
Long-term debt	16,530	18,781
Total Carrying Value
Assets
Cash and cash equivalents	536	541
Investment securities	1,747	1,992
Net finance receivables, less allowance for finance receivable losses	17,497	17,117
Restricted cash and restricted cash equivalents	483	476
Other assets	37	46
Liabilities
Long-term debt	18,202	17,750
Level 1
Assets
Cash and cash equivalents	536	535
Investment securities	50	59
Net finance receivables, less allowance for finance receivable losses	0	0
Restricted cash and restricted cash equivalents	483	476
Other assets	0	0
Liabilities
Long-term debt	0	0
Level 2
Assets
Cash and cash equivalents	0	6
Investment securities	1,687	1,927
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	16,530	18,781
Level 3
Assets
Cash and cash equivalents	0	0
Investment securities	10	6
Net finance receivables, less allowance for finance receivable losses	19,542	20,083
Restricted cash and restricted cash equivalents	0	0
Other assets	45	52
Liabilities
Long-term debt	$ 0	$ 0

Fair Value Measurements - Asset

Fair Value Measurements - Assets at Fair Value Recurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	$ 1,677	$ 1,907
Other securities	70	85
U.S. government and government sponsored entities
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	11	16
Obligations of states, municipalities, and political subdivisions
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	64	79
Corporate debt
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	1,114	1,302
RMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	184	170
CMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	36	45
CDO/ABS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	80	90
Level 1
Investments, Debt and Equity Securities [Abstract]
Total investment securities	50	59
Level 2
Investments, Debt and Equity Securities [Abstract]
Total investment securities	1,687	1,927
Level 3
Investments, Debt and Equity Securities [Abstract]
Total investment securities	10	6
Fair Value, Measurements, Recurring
Assets
Cash equivalents in mutual funds	26	41
Cash equivalents in securities		6
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	1,677	1,907
Other securities	70	85
Total investment securities	1,747	1,992
Restricted cash equivalents in mutual funds	476	468
Total	2,249	2,507
Fair Value, Measurements, Recurring | Total bonds
Investments, Debt and Equity Securities [Abstract]
Other securities	25	30
Fair Value, Measurements, Recurring | U.S. government and government sponsored entities
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	11	16
Fair Value, Measurements, Recurring | Obligations of states, municipalities, and political subdivisions
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	64	79
Fair Value, Measurements, Recurring | Commercial paper
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	53	50
Fair Value, Measurements, Recurring | Non-U.S. government and government sponsored entities
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	135	155
Fair Value, Measurements, Recurring | Corporate debt
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	1,114	1,302
Other securities	8	9
Fair Value, Measurements, Recurring | RMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	184	170
Other securities	1	1
Fair Value, Measurements, Recurring | CMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	36	45
Fair Value, Measurements, Recurring | CDO/ABS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	80	90
Other securities	16	20
Fair Value, Measurements, Recurring | Preferred stock
Investments, Debt and Equity Securities [Abstract]
Other securities	16	22
Fair Value, Measurements, Recurring | Common stock
Investments, Debt and Equity Securities [Abstract]
Other securities	29	33
Fair Value, Measurements, Recurring | Level 1
Assets
Cash equivalents in mutual funds	26	41
Cash equivalents in securities		0
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	6	5
Other securities	44	54
Total investment securities	50	59
Restricted cash equivalents in mutual funds	476	468
Total	552	568
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
Fair Value, Measurements, Recurring | Level 1 | Corporate debt
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	6	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	16	22
Fair Value, Measurements, Recurring | Level 1 | Common stock
Investments, Debt and Equity Securities [Abstract]
Other securities	28	32
Fair Value, Measurements, Recurring | Level 2
Assets
Cash equivalents in mutual funds	0	0
Cash equivalents in securities		6
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	1,662	1,897
Other securities	25	30
Total investment securities	1,687	1,927
Restricted cash equivalents in mutual funds	0	0
Total	1,687	1,933
Fair Value, Measurements, Recurring | Level 2 | Total bonds
Investments, Debt and Equity Securities [Abstract]
Other securities	25	30
Fair Value, Measurements, Recurring | Level 2 | U.S. government and government sponsored entities
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	11	16
Fair Value, Measurements, Recurring | Level 2 | Obligations of states, municipalities, and political subdivisions
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	64	79
Fair Value, Measurements, Recurring | Level 2 | Commercial paper
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	53	50
Fair Value, Measurements, Recurring | Level 2 | Non-U.S. government and government sponsored entities
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	135	155
Fair Value, Measurements, Recurring | Level 2 | Corporate debt
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	1,105	1,292
Other securities	8	9
Fair Value, Measurements, Recurring | Level 2 | RMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	178	170
Other securities	1	1
Fair Value, Measurements, Recurring | Level 2 | CMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	36	45
Fair Value, Measurements, Recurring | Level 2 | CDO/ABS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	80	90
Other securities	16	20
Fair Value, Measurements, Recurring | Level 2 | Preferred stock
Investments, Debt and Equity Securities [Abstract]
Other securities	0	0
Fair Value, Measurements, Recurring | Level 2 | Common stock
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
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	9	5
Other securities	1	1
Total investment securities	10	6
Restricted cash equivalents in mutual funds	0	0
Total	10	6
Fair Value, Measurements, Recurring | Level 3 | Total bonds
Investments, Debt and Equity Securities [Abstract]
Other securities	0	0
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
Fair Value, Measurements, Recurring | Level 3 | Corporate debt
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	3	5
Other securities	0	0
Fair Value, Measurements, Recurring | Level 3 | RMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	6	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	0	0
Other securities	0	0
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	$ 1	$ 1