Onemain Finance 10-Q 26 Oct 23 2023 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2023	Oct. 19, 2023
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
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		119,904,122
Entity Central Index Key	0001584207
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
OMFC
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
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	2023
Document Fiscal Period Focus	Q3

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Sep. 30, 2023		Dec. 31, 2022
Assets
Cash and cash equivalents	$ 1,190		$ 498
Investment securities (includes available-for-sale securities with a fair value and an amortized cost basis of $1.6 billion and $1.8 billion in 2023, respectively, and $1.7 billion and $1.9 billion in 2022, respectively)	1,635		1,800
Net finance receivables (includes loans of consolidated VIEs of $13.2 billion in 2023 and $10.4 billion in 2022)	21,067		19,986
Unearned insurance premium and claim reserves	(772)		(749)
Allowance for finance receivable losses (includes allowance of consolidated VIEs of $1.5 billion in 2023 and $1.1 billion in 2022)	(2,449)		(2,311)
Net finance receivables, less unearned insurance premium and claim reserves and allowance for finance receivable losses	17,846		16,926
Restricted cash and restricted cash equivalents (includes restricted cash and restricted cash equivalents of consolidated VIEs of $564 million in 2023 and $442 million in 2022)	580	[1]	461
Goodwill	1,437		1,437
Other intangible assets	260		261
Other assets	1,198		1,154
Total assets	24,146		22,537
Liabilities and Shareholders’ Equity
Long-term debt (includes debt of consolidated VIEs of $11.9 billion in 2023 and $9.4 billion in 2022)	19,851		18,281
Insurance claims and policyholder liabilities	599		620
Deferred and accrued taxes	6		5
Other liabilities (includes other liabilities of consolidated VIEs of $26 million in 2023 and $20 million in 2022)	581		616
Total liabilities	21,037		19,522
Contingencies (Note 12)
Shareholders’ equity:
Common stock, par value $0.01 per share; 2,000,000,000 shares authorized, 120,245,297 and 121,042,125 shares issued and outstanding at September 30, 2023 and December 31, 2022, respectively	1		1
Additional paid-in capital	1,706		1,689
Accumulated other comprehensive loss	(129)		(127)
Retained earnings	2,240		2,119
Treasury stock, at cost; 14,872,259 and 13,813,476 shares at September 30, 2023 and December 31, 2022, respectively	(709)		(667)
Total shareholders’ equity	3,109		3,015
Total liabilities and shareholders’ equity	$ 24,146		$ 22,537
[1]Restricted cash and restricted cash equivalents primarily represent funds required to be used for future debt payments relating to our secured transactions.

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2023		Dec. 31, 2022
Investment securities, fair value	$ 1,567		$ 1,729
Investment securities, amortized cost basis	1,752		1,897
Net finance receivables	21,067		19,986
Financing receivable, allowance for credit loss	2,449		2,311
Restricted cash and restricted cash equivalents	580	[1]	461
Long-term debt	19,851		18,281
Other liabilities	$ 581		$ 616
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)	120,245,297		121,042,125
Common stock, shares outstanding (in shares)	120,245,297		121,042,125
Treasury stock at cost (in shares)	14,872,259		13,813,476
Consolidated VIEs
Net finance receivables	$ 13,229		$ 10,432
Financing receivable, allowance for credit loss	1,480		1,126
Restricted cash and restricted cash equivalents	564		442
Long-term debt	11,917		9,361
Other liabilities	$ 26		$ 20
[1]Restricted cash and restricted cash equivalents primarily represent funds required to be used for future debt payments relating to our secured transactions.

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Interest income	$ 1,167	$ 1,118	$ 3,377	$ 3,313
Interest expense	267	223	749	661
Net interest income	900	895	2,628	2,652
Provision for finance receivable losses	410	421	1,275	998
Net interest income after provision for finance receivable losses	490	474	1,353	1,654
Other revenues:
Insurance	113	111	335	334
Investment	32	16	83	40
Gain on sales of finance receivables	11	17	42	50
Net gain (loss) on repurchases and repayments of debt	0	2	1	(26)
Other	29	24	87	62
Total other revenues	185	170	548	460
Other expenses:
Salaries and benefits	217	212	649	621
Other operating expenses	164	151	494	451
Insurance policy benefits and claims	48	35	139	119
Total other expenses	429	398	1,282	1,191
Income before income taxes	246	246	619	923
Income taxes	52	61	143	227
Net income	$ 194	$ 185	$ 476	$ 696
Weighted average number of shares outstanding:
Basic (in shares)	120,407,889	123,352,522	120,571,103	124,989,263
Diluted (in shares)	120,754,694	123,568,620	120,790,485	125,243,206
Earnings per share:
Basic (in dollars per share)	$ 1.61	$ 1.50	$ 3.95	$ 5.56
Diluted (in dollars per share)	$ 1.61	$ 1.49	$ 3.94	$ 5.55

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 194	$ 185	$ 476	$ 696
Other comprehensive loss:
Net change in unrealized losses on non-credit impaired available-for-sale securities	(28)	(65)	(19)	(248)
Foreign currency translation adjustments	(4)	(10)	0	(13)
Changes in discount rate for insurance claims and policyholder liabilities	8	18	15	73
Other	4	4	2	24
Income tax effect:
Net change in unrealized losses on non-credit impaired available-for-sale securities	6	15	4	57
Foreign currency translation adjustments	1	2	0	3
Changes in discount rate for insurance claims and policyholder liabilities	(1)	(4)	(3)	(16)
Other	(1)	(1)	(1)	(6)
Other comprehensive loss, net of tax, before reclassification adjustments	(15)	(41)	(2)	(126)
Net realized losses on available-for-sale securities, net of tax	0	0	0	(3)
Reclassification adjustments included in net income, net of tax	0	0	0	(3)
Other comprehensive loss, net of tax	(15)	(41)	(2)	(129)
Comprehensive income	$ 179	$ 144	$ 474	$ 567

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders’ Equity (Unaudited) - USD ($) $ in Millions		Total	Net impact of adoption of ASU 2022-02 (see Note 2)	Cumulative Effect, Period Of Adoption, Adjusted Balance	Common Stock	Common Stock Cumulative Effect, Period Of Adoption, Adjusted Balance	Additional Paid-in Capital	Additional Paid-in Capital Cumulative Effect, Period Of Adoption, Adjusted Balance	Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Cumulative Effect, Period Of Adoption, Adjusted Balance	Retained Earnings	Retained Earnings Net impact of adoption of ASU 2022-02 (see Note 2)	Retained Earnings Cumulative Effect, Period Of Adoption, Adjusted Balance	Treasury Stock	Treasury Stock Cumulative Effect, Period Of Adoption, Adjusted Balance
Balance at beginning of period at Dec. 31, 2021		$ 3,037			$ 1		$ 1,672		$ 5		$ 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		(129)							(129)
Cash dividends	[1]	(361)									(361)
Net income		696									696
Balance at end of period at Sep. 30, 2022		3,011			1		1,685		(124)		2,061			(612)
Balance at beginning of period at Dec. 31, 2021		3,037			1		1,672		5		1,727			(368)
Balance at end of period at Dec. 31, 2022		$ 3,015	$ 12	$ 3,027	1	$ 1	1,689	$ 1,689	(127)	$ (127)	2,119	$ 12	$ 2,131	(667)	$ (667)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible Enumeration]		Accounting Standards Update 2022-02 [Member]
Balance at beginning of period at Jun. 30, 2022		$ 3,021			1		1,679		(83)		1,995			(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		(41)							(41)
Cash dividends	[2]	(118)									(118)
Net income		185									185
Balance at end of period at Sep. 30, 2022		3,011			1		1,685		(124)		2,061			(612)
Balance at beginning of period at Dec. 31, 2022		3,015	$ 12	$ 3,027	1	$ 1	1,689	$ 1,689	(127)	$ (127)	2,119	$ 12	$ 2,131	(667)	$ (667)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock repurchased		(45)												(45)
Treasury stock issued (in shares)		2									(1)			3
Share-based compensation expense, net of forfeitures		27					27
Withholding tax on share-based compensation		(10)					(10)
Other comprehensive loss		(2)							(2)
Cash dividends	[1]	(366)									(366)
Net income		476									476
Balance at end of period at Sep. 30, 2023		3,109			1		1,706		(129)		2,240			(709)
Balance at beginning of period at Jun. 30, 2023		3,058			1		1,702		(114)		2,168			(699)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock repurchased		(11)												(11)
Treasury stock issued (in shares)		1												1
Share-based compensation expense, net of forfeitures		6					6
Withholding tax on share-based compensation		(2)					(2)
Other comprehensive loss		(15)							(15)
Cash dividends	[2]	(122)									(122)
Net income		194									194
Balance at end of period at Sep. 30, 2023		$ 3,109			$ 1		$ 1,706		$ (129)		$ 2,240			$ (709)
[1]* Cash dividends declared were $3.00 per share and $2.85 per share during the nine months ended September 30, 2023 and 2022, respectively.[2]* Cash dividends declared were $1.00 per share and $0.95 per share during the three months ended September 30, 2023 and 2022, respectively.

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Shareholders’ Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Stockholders' Equity [Abstract]
Dividends declared (in dollars per share)	$ 1	$ 0.95	$ 3	$ 2.85

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Net Cash Provided by (Used in) Operating Activities, Continuing Operations [Abstract]
Net income		$ 194	$ 185	$ 476	$ 696
Reconciling adjustments:
Provision for finance receivable losses		410	421	1,275	998
Depreciation and amortization				191	188
Deferred income tax benefit				(30)	(45)
Net loss (gain) on repurchases and repayments of debt				(1)	26
Share-based compensation expense, net of forfeitures				27	27
Gain on sales of finance receivables		(11)	(17)	(42)	(50)
Other				(1)	4
Cash flows due to changes in other assets and other liabilities				(54)	(121)
Net cash provided by operating activities				1,841	1,723
Cash flows from investing activities
Net principal originations and purchases of finance receivables				(2,726)	(2,010)
Proceeds from sales of finance receivables				493	599
Available-for-sale securities purchased				(129)	(406)
Available-for-sale securities called, sold, and matured				274	370
Other securities purchased				(4)	(5)
Other securities called, sold, and matured				5	11
Other, net				(65)	(56)
Net cash used for investing activities				(2,152)	(1,497)
Cash flows from financing activities
Proceeds from issuance and borrowings of long-term debt, net of issuance costs				3,743	4,479
Repayments and repurchases of long-term debt				(2,202)	(4,080)
Cash dividends				(366)	(364)
Common stock repurchased				(45)	(247)
Treasury stock issued				2	2
Withholding tax on share-based compensation				(10)	(14)
Net cash provided by (used for) financing activities				1,122	(224)
Net change in cash and cash equivalents and restricted cash and restricted cash equivalents				811	2
Cash and cash equivalents and restricted cash and restricted cash equivalents at beginning of period				959	1,017
Cash and cash equivalents and restricted cash and restricted cash equivalents at end of period		1,770	1,019	1,770	1,019
Supplemental cash flow information
Cash and cash equivalents		1,190	536	1,190	536
Restricted cash and restricted cash equivalents	[1]	580	483	580	483
Total cash and cash equivalents and restricted cash and restricted cash equivalents		$ 1,770	$ 1,019	$ 1,770	$ 1,019
[1]Restricted cash and restricted cash equivalents primarily represent funds required to be used for future debt payments relating to our secured transactions.

Condensed Consolidated Balanc_3

Condensed Consolidated Balance Sheets (Unaudited) - OMFC - USD ($) $ in Millions	Sep. 30, 2023		Dec. 31, 2022
Assets
Cash and cash equivalents	$ 1,190		$ 498
Investment securities (includes available-for-sale securities with a fair value and an amortized cost basis of $1.6 billion and $1.8 billion in 2023, respectively, and $1.7 billion and $1.9 billion in 2022, respectively)	1,635		1,800
Net finance receivables (includes loans of consolidated VIEs of $13.2 billion in 2023 and $10.4 billion in 2022)	21,067		19,986
Unearned insurance premium and claim reserves	(772)		(749)
Allowance for finance receivable losses (includes allowance of consolidated VIEs of $1.5 billion in 2023 and $1.1 billion in 2022)	(2,449)		(2,311)
Net finance receivables, less unearned insurance premium and claim reserves and allowance for finance receivable losses	17,846		16,926
Restricted cash and restricted cash equivalents (includes restricted cash and restricted cash equivalents of consolidated VIEs of $564 million in 2023 and $442 million in 2022)	580	[1]	461
Goodwill	1,437		1,437
Other intangible assets	260		261
Other assets	1,198		1,154
Total assets	24,146		22,537
Liabilities and Shareholders’ Equity
Long-term debt (includes debt of consolidated VIEs of $11.9 billion in 2023 and $9.4 billion in 2022)	19,851		18,281
Insurance claims and policyholder liabilities	599		620
Deferred and accrued taxes	6		5
Other liabilities (includes other liabilities of consolidated VIEs of $26 million in 2023 and $20 million in 2022)	581		616
Total liabilities	21,037		19,522
Contingencies (Note 12)
Shareholders’ equity:
Common stock, par value $0.50 per share; 25,000,000 shares authorized, 10,160,021 shares issued and outstanding at September 30, 2023 and December 31, 2022	1		1
Additional paid-in capital	1,706		1,689
Accumulated other comprehensive loss	(129)		(127)
Retained earnings	2,240		2,119
Total shareholders’ equity	3,109		3,015
Total liabilities and shareholders’ equity	24,146		22,537
OMFC
Assets
Cash and cash equivalents	1,187		490
Investment securities (includes available-for-sale securities with a fair value and an amortized cost basis of $1.6 billion and $1.8 billion in 2023, respectively, and $1.7 billion and $1.9 billion in 2022, respectively)	1,635		1,800
Net finance receivables (includes loans of consolidated VIEs of $13.2 billion in 2023 and $10.4 billion in 2022)	21,067		19,986
Unearned insurance premium and claim reserves	(772)		(749)
Allowance for finance receivable losses (includes allowance of consolidated VIEs of $1.5 billion in 2023 and $1.1 billion in 2022)	(2,449)		(2,311)
Net finance receivables, less unearned insurance premium and claim reserves and allowance for finance receivable losses	17,846		16,926
Restricted cash and restricted cash equivalents (includes restricted cash and restricted cash equivalents of consolidated VIEs of $564 million in 2023 and $442 million in 2022)	580	[2]	461
Goodwill	1,437		1,437
Other intangible assets	260		261
Other assets	1,196		1,152
Total assets	24,141		22,527
Liabilities and Shareholders’ Equity
Long-term debt (includes debt of consolidated VIEs of $11.9 billion in 2023 and $9.4 billion in 2022)	19,851		18,281
Insurance claims and policyholder liabilities	599		620
Deferred and accrued taxes	6		5
Other liabilities (includes other liabilities of consolidated VIEs of $26 million in 2023 and $20 million in 2022)	581		617
Total liabilities	21,037		19,523
Contingencies (Note 12)
Shareholders’ equity:
Common stock, par value $0.50 per share; 25,000,000 shares authorized, 10,160,021 shares issued and outstanding at September 30, 2023 and December 31, 2022	5		5
Additional paid-in capital	1,950		1,933
Accumulated other comprehensive loss	(129)		(127)
Retained earnings	1,278		1,193
Total shareholders’ equity	3,104		3,004
Total liabilities and shareholders’ equity	$ 24,141		$ 22,527
[1]Restricted cash and restricted cash equivalents primarily represent funds required to be used for future debt payments relating to our secured transactions.[2]Restricted cash and restricted cash equivalents primarily represent funds required to be used for future debt payments relating to our secured transactions.

Condensed Consolidated Balanc_4

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - OMFC - USD ($) $ in Millions	Sep. 30, 2023		Dec. 31, 2022
Investment securities, fair value	$ 1,567		$ 1,729
Investment securities, amortized cost basis	1,752		1,897
Net finance receivables	21,067		19,986
Financing receivable, allowance for credit loss	2,449		2,311
Restricted cash and restricted cash equivalents	580	[1]	461
Long-term debt	19,851		18,281
Other liabilities	$ 581		$ 616
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)	120,245,297		121,042,125
Common stock, shares outstanding (in shares)	120,245,297		121,042,125
OMFC
Investment securities, fair value	$ 1,600		$ 1,700
Investment securities, amortized cost basis	1,800		1,900
Net finance receivables	21,067		19,986
Financing receivable, allowance for credit loss	2,449		2,311
Restricted cash and restricted cash equivalents	580	[2]	461
Long-term debt	19,851		18,281
Other liabilities	$ 581		$ 617
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	$ 13,229		$ 10,432
Financing receivable, allowance for credit loss	1,480		1,126
Restricted cash and restricted cash equivalents	564		442
Long-term debt	11,917		9,361
Other liabilities	26		20
Consolidated VIEs | OMFC
Net finance receivables	13,200		10,400
Financing receivable, allowance for credit loss	1,500		1,100
Restricted cash and restricted cash equivalents	564		442
Long-term debt	11,900		9,400
Other liabilities	$ 26		$ 20
[1]Restricted cash and restricted cash equivalents primarily represent funds required to be used for future debt payments relating to our secured transactions.[2]Restricted cash and restricted cash equivalents primarily represent funds required to be used for future debt payments relating to our secured transactions.

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Operations (Unaudited) - OMFC - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Interest income	$ 1,167	$ 1,118	$ 3,377	$ 3,313
Interest expense	267	223	749	661
Net interest income	900	895	2,628	2,652
Provision for finance receivable losses	410	421	1,275	998
Net interest income after provision for finance receivable losses	490	474	1,353	1,654
Other revenues:
Insurance	113	111	335	334
Investment	32	16	83	40
Gain on sales of finance receivables	11	17	42	50
Net gain (loss) on repurchases and repayments of debt	0	2	1	(26)
Other	29	24	87	62
Total other revenues	185	170	548	460
Other expenses:
Salaries and benefits	217	212	649	621
Other operating expenses	164	151	494	451
Insurance policy benefits and claims	48	35	139	119
Total other expenses	429	398	1,282	1,191
Income before income taxes	246	246	619	923
Income taxes	52	61	143	227
Net income	194	185	476	696
OMFC
Interest income	1,167	1,118	3,377	3,313
Interest expense	267	223	749	661
Net interest income	900	895	2,628	2,652
Provision for finance receivable losses	410	421	1,275	998
Net interest income after provision for finance receivable losses	490	474	1,353	1,654
Other revenues:
Insurance	113	111	335	334
Investment	32	16	83	40
Gain on sales of finance receivables	11	17	42	50
Net gain (loss) on repurchases and repayments of debt	0	2	1	(26)
Other	29	24	87	62
Total other revenues	185	170	548	460
Other expenses:
Salaries and benefits	217	212	649	621
Other operating expenses	164	151	494	451
Insurance policy benefits and claims	48	35	139	119
Total other expenses	429	398	1,282	1,191
Income before income taxes	246	246	619	923
Income taxes	52	61	143	227
Net income	$ 194	$ 185	$ 476	$ 696

Condensed Consolidated Statem_7

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - OMFC - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Net income	$ 194	$ 185	$ 476	$ 696
Other comprehensive loss:
Net change in unrealized losses on non-credit impaired available-for-sale securities	(28)	(65)	(19)	(248)
Foreign currency translation adjustments	(4)	(10)	0	(13)
Changes in discount rate for insurance claims and policyholder liabilities	8	18	15	73
Other	4	4	2	24
Income tax effect:
Net change in unrealized losses on non-credit impaired available-for-sale securities	6	15	4	57
Foreign currency translation adjustments	1	2	0	3
Changes in discount rate for insurance claims and policyholder liabilities	(1)	(4)	(3)	(16)
Other	(1)	(1)	(1)	(6)
Other comprehensive loss, net of tax, before reclassification adjustments	(15)	(41)	(2)	(126)
Net realized losses on available-for-sale securities, net of tax	0	0	0	(3)
Reclassification adjustments included in net income, net of tax	0	0	0	(3)
Other comprehensive loss, net of tax	(15)	(41)	(2)	(129)
Comprehensive income	179	144	474	567
OMFC
Net income	194	185	476	696
Other comprehensive loss:
Net change in unrealized losses on non-credit impaired available-for-sale securities	(28)	(65)	(19)	(248)
Foreign currency translation adjustments	(4)	(10)	0	(13)
Changes in discount rate for insurance claims and policyholder liabilities	8	18	15	73
Other	4	4	2	24
Income tax effect:
Net change in unrealized losses on non-credit impaired available-for-sale securities	6	15	4	57
Foreign currency translation adjustments	1	2	0	3
Changes in discount rate for insurance claims and policyholder liabilities	(1)	(4)	(3)	(16)
Other	(1)	(1)	(1)	(6)
Other comprehensive loss, net of tax, before reclassification adjustments	(15)	(41)	(2)	(126)
Net realized losses on available-for-sale securities, net of tax	0	0	0	(3)
Reclassification adjustments included in net income, net of tax	0	0	0	(3)
Other comprehensive loss, net of tax	(15)	(41)	(2)	(129)
Comprehensive income	$ 179	$ 144	$ 474	$ 567

Condensed Consolidated Statem_8

Condensed Consolidated Statements of Shareholder's Equity (Unaudited) - OMFC - USD ($) $ in Millions	Total		Cumulative Effect, Period Of Adoption, Adjustment	Cumulative Effect, Period Of Adoption, Adjusted Balance	Common Stock	Common Stock Cumulative Effect, Period Of Adoption, Adjusted Balance	Additional Paid-in Capital	Additional Paid-in Capital Cumulative Effect, Period Of Adoption, Adjusted Balance	Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Cumulative Effect, Period Of Adoption, Adjusted Balance	Retained Earnings		Retained Earnings Cumulative Effect, Period Of Adoption, Adjustment	Retained Earnings Cumulative Effect, Period Of Adoption, Adjusted Balance	OMFC	OMFC Cumulative Effect, Period Of Adoption, Adjustment	OMFC Cumulative Effect, Period Of Adoption, Adjusted Balance	OMFC Common Stock	OMFC Common Stock Cumulative Effect, Period Of Adoption, Adjusted Balance	OMFC Additional Paid-in Capital	OMFC Additional Paid-in Capital Cumulative Effect, Period Of Adoption, Adjusted Balance	OMFC Accumulated Other Comprehensive Income (Loss)	OMFC Accumulated Other Comprehensive Income (Loss) Cumulative Effect, Period Of Adoption, Adjusted Balance	OMFC Retained Earnings	OMFC Retained Earnings Cumulative Effect, Period Of Adoption, Adjustment	OMFC Retained Earnings Cumulative Effect, Period Of Adoption, Adjusted Balance
Balance at beginning of period at Dec. 31, 2021	$ 3,037				$ 1		$ 1,672		$ 5		$ 1,727				$ 3,004			$ 5		$ 1,916		$ 5		$ 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	(129)								(129)						(129)							(129)
Cash dividends	(361)	[1]									(361)	[1]			(600)									(600)
Net income	696										696				696									696
Balance at end of period at Sep. 30, 2022	3,011				1		1,685		(124)		2,061				2,984			5		1,929		(124)		1,174
Balance at beginning of period at Dec. 31, 2021	$ 3,037				1		1,672		5		1,727				$ 3,004			5		1,916		5		1,078
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2022-02 [Member]														Accounting Standards Update 2022-02 [Member]
Balance at end of period at Dec. 31, 2022	$ 3,015		$ 12	$ 3,027	1	$ 1	1,689	$ 1,689	(127)	$ (127)	2,119		$ 12	$ 2,131	$ 3,004	$ 12	$ 3,016	5	$ 5	1,933	$ 1,933	(127)	$ (127)	1,193	$ 12	$ 1,205
Balance at beginning of period at Jun. 30, 2022	3,021				1		1,679		(83)		1,995				3,011			5		1,923		(83)		1,166
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	(41)								(41)						(41)							(41)
Cash dividends	(118)	[2]									(118)	[2]			(177)									(177)
Net income	185										185				185									185
Balance at end of period at Sep. 30, 2022	3,011				1		1,685		(124)		2,061				2,984			5		1,929		(124)		1,174
Balance at beginning of period at Dec. 31, 2022	3,015		$ 12	$ 3,027	1	$ 1	1,689	$ 1,689	(127)	$ (127)	2,119		$ 12	$ 2,131	3,004	$ 12	$ 3,016	5	$ 5	1,933	$ 1,933	(127)	$ (127)	1,193	$ 12	$ 1,205
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation expense, net of forfeitures	27						27								27					27
Withholding tax on share-based compensation	(10)						(10)								(10)					(10)
Other comprehensive loss	(2)								(2)						(2)							(2)
Cash dividends	(366)	[1]									(366)	[1]			(403)									(403)
Net income	476										476				476									476
Balance at end of period at Sep. 30, 2023	3,109				1		1,706		(129)		2,240				3,104			5		1,950		(129)		1,278
Balance at beginning of period at Jun. 30, 2023	3,058				1		1,702		(114)		2,168				3,041			5		1,946		(114)		1,204
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation expense, net of forfeitures	6						6								6					6
Withholding tax on share-based compensation	(2)						(2)								(2)					(2)
Other comprehensive loss	(15)								(15)						(15)							(15)
Cash dividends	(122)	[2]									(122)	[2]			(120)									(120)
Net income	194										194				194									194
Balance at end of period at Sep. 30, 2023	$ 3,109				$ 1		$ 1,706		$ (129)		$ 2,240				$ 3,104			$ 5		$ 1,950		$ (129)		$ 1,278
[1]* Cash dividends declared were $3.00 per share and $2.85 per share during the nine months ended September 30, 2023 and 2022, respectively.[2]* Cash dividends declared were $1.00 per share and $0.95 per share during the three months ended September 30, 2023 and 2022, respectively.

Condensed Consolidated Statem_9

Condensed Consolidated Statements of Shareholders’ Equity (Unaudited) (Parenthetical) - OMFC - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Stockholders' Equity [Abstract]
Dividends declared (in dollars per share)	$ 1	$ 0.95	$ 3	$ 2.85

Condensed Consolidated State_10

Condensed Consolidated Statements of Cash Flows (Unaudited) - OMFC - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Net Cash Provided by (Used in) Operating Activities, Continuing Operations [Abstract]
Net income		$ 194	$ 185	$ 476	$ 696
Reconciling adjustments:
Provision for finance receivable losses		410	421	1,275	998
Depreciation and amortization				191	188
Deferred income tax benefit				(30)	(45)
Net loss (gain) on repurchases and repayments of debt				(1)	26
Share-based compensation expense, net of forfeitures				27	27
Gain on sales of finance receivables		(11)	(17)	(42)	(50)
Other				(1)	4
Cash flows due to changes in other assets and other liabilities				(54)	(121)
Net cash provided by operating activities				1,841	1,723
Cash flows from investing activities
Net principal originations and purchases of finance receivables				(2,726)	(2,010)
Proceeds from sales of finance receivables				493	599
Available-for-sale securities purchased				(129)	(406)
Available-for-sale securities called, sold, and matured				274	370
Other securities purchased				(4)	(5)
Other securities called, sold, and matured				5	11
Other, net				(65)	(56)
Net cash used for investing activities				(2,152)	(1,497)
Cash flows from financing activities
Proceeds from issuance and borrowings of long-term debt, net of issuance costs				3,743	4,479
Repayments and repurchases of long-term debt				(2,202)	(4,080)
Cash dividends				(366)	(364)
Withholding tax on share-based compensation				(10)	(14)
Net cash provided by (used for) financing activities				1,122	(224)
Net change in cash and cash equivalents and restricted cash and restricted cash equivalents				811	2
Cash and cash equivalents and restricted cash and restricted cash equivalents at beginning of period				959	1,017
Cash and cash equivalents and restricted cash and restricted cash equivalents at end of period		1,770	1,019	1,770	1,019
Supplemental cash flow information
Cash and cash equivalents		1,190	536	1,190	536
Restricted cash and restricted cash equivalents	[1]	580	483	580	483
Total cash and cash equivalents and restricted cash and restricted cash equivalents		1,770	1,019	1,770	1,019
OMFC
Net Cash Provided by (Used in) Operating Activities, Continuing Operations [Abstract]
Net income		194	185	476	696
Reconciling adjustments:
Provision for finance receivable losses		410	421	1,275	998
Depreciation and amortization				191	188
Deferred income tax benefit				(30)	(45)
Net loss (gain) on repurchases and repayments of debt				(1)	26
Share-based compensation expense, net of forfeitures				27	27
Gain on sales of finance receivables		(11)	(17)	(42)	(50)
Other				(1)	4
Cash flows due to changes in other assets and other liabilities				(55)	(121)
Net cash provided by operating activities				1,840	1,723
Cash flows from investing activities
Net principal originations and purchases of finance receivables				(2,726)	(2,010)
Proceeds from sales of finance receivables				493	599
Available-for-sale securities purchased				(129)	(406)
Available-for-sale securities called, sold, and matured				274	370
Other securities purchased				(4)	(5)
Other securities called, sold, and matured				5	11
Other, net				(65)	(56)
Net cash used for investing activities				(2,152)	(1,497)
Cash flows from financing activities
Proceeds from issuance and borrowings of long-term debt, net of issuance costs				3,743	4,479
Repayments and repurchases of long-term debt				(2,202)	(4,080)
Cash dividends				(403)	(602)
Withholding tax on share-based compensation				(10)	(14)
Net cash provided by (used for) financing activities				1,128	(217)
Net change in cash and cash equivalents and restricted cash and restricted cash equivalents				816	9
Cash and cash equivalents and restricted cash and restricted cash equivalents at beginning of period				951	986
Cash and cash equivalents and restricted cash and restricted cash equivalents at end of period		1,767	995	1,767	995
Supplemental cash flow information
Cash and cash equivalents		1,187	512	1,187	512
Restricted cash and restricted cash equivalents	[2]	580	483	580	483
Total cash and cash equivalents and restricted cash and restricted cash equivalents		$ 1,767	$ 995	$ 1,767	$ 995
[1]Restricted cash and restricted cash equivalents primarily represent funds required to be used for future debt payments relating to our secured transactions.[2]Restricted cash and restricted cash equivalents primarily represent funds required to be used for future debt payments relating to our secured transactions.

Business and Basis of Presentat

Business and Basis of Presentation	9 Months Ended
	Sep. 30, 2023
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 except for the new accounting pronouncements subsequently adopted and disclosed in Note 2. To conform to the 2023 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, 2023
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	2. Recent Accounting Pronouncements ACCOUNTING PRONOUNCEMENTS RECENTLY ADOPTED Insurance In August of 2018, the FASB issued ASU 2018-12, Financial Services - Insurance: Targeted Improvements to the Accounting for Long-Duration Contracts , which provides targeted improvements to Topic 944 for the assumptions used to measure the liability for future policy benefits for nonparticipating traditional and limited-payment contracts; measurement of market risk benefits; amortization of deferred acquisition costs; and enhanced disclosures. The ASU requires the assumptions used to measure the liability for future policy benefits to be updated at least annually. The guidance prescribes 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 became effective for the Company beginning January 1, 2023 and we adopted using the modified retrospective transition method. This ASU required a transition date of January 1, 2021 and resulted in recasting prior periods. The effects of the adoption of ASU 2018-12 to our condensed consolidated balance sheets were as follows: (dollars in millions) As Reported ASU 2018-12 Adjustment As Recast December 31, 2022 Other assets (OMH only) $ 1,150 $ 4 $ 1,154 Other assets (OMFC only) 1,148 4 1,152 Insurance claims and policyholder liabilities 602 18 620 Accumulated other comprehensive loss (119) (8) (127) Retained earnings (OMH only) 2,125 (6) 2,119 Retained earnings (OMFC only) 1,199 (6) 1,193 September 30, 2022 Insurance claims and policyholder liabilities $ 600 $ 1 $ 601 Accumulated other comprehensive loss (125) 1 (124) Retained earnings (OMH only) 2,063 (2) 2,061 Retained earnings (OMFC only) 1,176 (2) 1,174 December 31, 2021 Other assets (OMH only) $ 1,003 $ 16 $ 1,019 Other assets (OMFC only) 1,001 16 1,017 Insurance claims and policyholder liabilities 621 72 693 Accumulated other comprehensive income 61 (56) 5 January 1, 2021 Other assets (OMH and OMFC) $ 1,054 $ 21 $ 1,075 Insurance claims and policyholder liabilities 621 97 718 Accumulated other comprehensive income 94 (76) 18 The effects of the adoption of ASU 2018-12 to our condensed consolidated statements of operations were as follows: (dollars in millions, except per share amounts) As Reported ASU 2018-12 Adjustment As Recast Three Months Ended September 30, 2022 Insurance policy benefits and claims $ 31 $ 4 $ 35 Income before income taxes 250 (4) 246 Income taxes 62 (1) 61 Net income 188 (3) 185 Basic EPS (OMH only) 1.52 (0.02) 1.50 Diluted EPS (OMH only) 1.52 (0.03) 1.49 Nine Months Ended September 30, 2022 Insurance policy benefits and claims $ 116 $ 3 $ 119 Income before income taxes 926 (3) 923 Income taxes 228 (1) 227 Net income 698 (2) 696 Basic EPS (OMH only) 5.58 (0.02) 5.56 Diluted EPS (OMH only) 5.57 (0.02) 5.55 The effects of the adoption of ASU 2018-12 to our condensed consolidated statements of comprehensive income were as follows: (dollars in millions) As Reported ASU 2018-12 Adjustment As Recast Three Months Ended September 30, 2022 Comprehensive income $ 133 $ 11 $ 144 Nine Months Ended September 30, 2022 Comprehensive income $ 512 $ 55 $ 567 The effects of the adoption of ASU 2018-12 to our condensed consolidated statements of cash flows were as follows: (dollars in millions) As Reported ASU 2018-12 Adjustment As Recast Nine Months Ended September 30, 2022 Net income $ 698 $ (2) $ 696 Deferred income tax charge (44) (1) (45) Cash flows due to changes in other assets and other liabilities (124) 3 (121) As a result of the adoption of ASU 2018-12, our significant accounting policy related to long-duration insurance contracts for policy and claim reserves has changed to reflect the requirements of the new standard. See below for the updated significant accounting policy as of the transition date of January 1, 2021. Policy and Claim Reserves Policy reserves are established for our long-duration contracts. The liability for future policy benefits is the present value of estimated future policy benefits to be paid to or on behalf of policyholders less the present value of estimated future net premiums to be collected from policyholders. To estimate the liability, we make assumptions for mortality, morbidity, lapses, and the discount rate. At least annually, we update our estimate of the liability with actual experience and review our cash flow assumptions. The updated liability is discounted at the original discount rate at contract inception, and the change in the balance is recognized as a remeasurement gain or loss and included in Insurance policy benefits and claims in our consolidated statements of operations. The discount rate assumption is the equivalent of an upper-medium grade fixed-income instrument yield. To determine the original discount rate at contract inception, we use a weighted average rate based on a forward yield curve over the contract issue year. At each reporting period, the liability is remeasured using the current discount rate and the change in the liability due to the discount rate is recognized in Accumulated other comprehensive income (loss) in our consolidated balance sheets. 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. We adopted the amendments in this ASU as of January 1, 2023 using the modified retrospective transition method. Upon adoption, we recorded a decrease to the allowance for finance receivable losses of $16 million, a decrease to deferred tax assets of $4 million and a one-time corresponding cumulative increase to retained earnings, net of tax, of $12 million in our consolidated balance sheets as of January 1, 2023. As a result of the adoption of ASU 2022-02, several of our significant accounting policies have changed to reflect the requirements of the new standard. See below for the updated significant accounting policies as of January 1, 2023. Troubled Debt Restructured Finance Receivables ASU 2022-02 superseded the accounting for troubled debt restructurings by creditors. As a result of the adoption of this ASU, the accounting for TDRs is no longer applicable for periods beginning on or after January 1, 2023. Modified Finance Receivables to Borrowers Experiencing Financial Difficulty We make modifications to our finance receivables to assist borrowers who are experiencing financial difficulty, participating in a counseling or settlement arrangement, or are in bankruptcy. When we modify the contractual terms for economic or other reasons related to the borrower’s financial difficulties, we classify that receivable as a modified finance receivable. We restructure finance receivables only if we believe the customer has the ability to pay under the restructured terms for the foreseeable future. When we modify an account, we primarily use a combination of the following to reduce the borrower’s monthly payment: reduce the interest rate, extend the term, defer or forgive past due interest, or forgive principal. As part of the modification, we may require qualifying payments before the accounts are generally brought current for delinquency reporting. In addition, for principal forgiveness, we may require future payment performance by the borrower under the modified terms before the balances are contractually forgiven. We fully reserve for any potential principal forgiveness in our allowance for finance receivable losses. Account modifications that are deemed to be a modified finance receivable are measured for impairment in accordance with our policy for allowance for finance receivable losses. Allowance for Finance Receivable Losses We establish the allowance for finance receivable losses through the provision for finance receivable losses. We evaluate our finance receivable portfolio by level of contractual delinquency in the portfolio, specifically in the late-stage delinquency buckets and inclusive of the migration of the loans through the delinquency buckets. Our finance receivables consist of a large number of relatively small, homogeneous accounts. We evaluate our finance receivables for impairment as pools. None of our accounts are large enough to warrant individual evaluation for impairment. We estimate the allowance for finance receivable losses primarily on historical loss experience using a cumulative loss model applied to our personal loan portfolios. Our gross credit loss expectation is offset by the estimate of future recoveries using historical recovery curves. Our personal loans are primarily segmented in the loss model by contractual delinquency status. Other attributes in the model include loan modification status, collateral mix and recent credit score. To estimate the gross credit losses, the model utilizes a roll rate matrix to project the first 12 months of losses and historical cohort performance to project the expected losses over the remaining term. Our methodology relies on historical loss experience to forecast the corresponding future outcomes. These patterns are then applied to the current portfolio to obtain an estimate of future losses. We also consider key economic trends including unemployment rates. Forecasted macroeconomic conditions extend to our reasonable and supportable forecast period and revert to a historical average. No new volume is assumed. Personal loan renewals are a significant piece of our new volume and are considered a terminal event of the previous loan. For our personal loans, we have elected not to measure an allowance on accrued finance charges as it is our policy to reverse finance charge amounts previously accrued after four contractual payments become past due. For credit cards, we measure an allowance on uncollected finance charges, but do not measure an allowance on the unfunded portion of the credit card lines as the accounts are unconditionally cancellable. Management exercises its judgment when determining the amount of allowance for finance receivable losses. Our judgment is based on quantitative analyses, qualitative factors (such as recent portfolio, industry, and other economic trends), and experience in the consumer finance industry. We adjust the amounts determined by our model for management’s estimate of the effects of model imprecision which include but are not limited to, any changes to underwriting criteria and portfolio seasoning. We generally charge off to the allowance for finance receivable losses on personal loans and credit cards that are beyond seven payments (approximately 180 days) past due. Exceptions include accounts in bankruptcy, which are generally charged off at the earlier of notice of discharge or when the customer becomes seven payments past due, and accounts of deceased borrowers, which are generally charged off at the time of notice. Generally, we start repossession of any titled personal property when the customer becomes two payments (approximately 30 days) past due and may charge off prior to the account becoming seven payments (approximately 180 days) past due. We may renew delinquent secured or unsecured personal loan accounts if the customer meets current underwriting criteria and it does not appear that the cause of past delinquency will affect the customer’s ability to repay the renewed loan. We subject all renewals to the same credit risk underwriting process as we would a new application for credit. See Notes 3 and 4 for additional information on the adoption of ASU 2022-02.

Finance Receivables

Finance Receivables	9 Months Ended
	Sep. 30, 2023
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, have fixed terms generally between three Components of our net finance receivables were as follows: (dollars in millions) Personal Loans Credit Cards Total September 30, 2023 Gross finance receivables * $ 20,564 $ 226 $ 20,790 Unearned fees (233) — (233) Accrued finance charges and fees 303 — 303 Deferred origination costs 201 6 207 Total $ 20,835 $ 232 $ 21,067 December 31, 2022 Gross finance receivables * $ 19,615 $ 107 $ 19,722 Unearned fees (220) — (220) Accrued finance charges and fees 299 — 299 Deferred origination costs 185 — 185 Total $ 19,879 $ 107 $ 19,986 * 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 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 $135 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 revenues in our condensed consolidated statements of operations. We sold $135 million and $450 million of gross finance receivables during the three and nine months ended September 30, 2023, respectively, and $180 million and $540 million of gross finance receivables during the three and nine months ended September 30, 2022, respectively. The gain on the sales were $11 million and $42 million during the three and nine months ended September 30, 2023, respectively, and $17 million and $50 million during the three and nine months ended September 30, 2022, 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 move collection of these accounts to our central collection 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 $36 million and $105 million during the three and nine months ended September 30, 2023, respectively, and $34 million and $88 million during the three and nine months ended September 30, 2022, respectively. Finance charges recognized from the contractual interest portion of payments received on nonaccrual personal loans totaled $4 million and $14 million during the three and nine months ended September 30, 2023, respectively, and $4 million and $12 million during the three and nine months ended September 30, 2022, 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 totaled $3 million and $8 million during the three and nine months ended September 30, 2023, respectively, and were immaterial during the three and nine months ended September 30, 2022. The following tables below are a summary of our personal loans by the year of origination and number of days delinquent: (dollars in millions) 2023 2022 2021 2020 2019 Prior Total September 30, 2023 Performing Current $ 8,394 $ 6,692 $ 2,967 $ 970 $ 507 $ 149 $ 19,679 30-59 days past due 69 159 92 27 17 7 371 60-89 days past due 41 113 64 18 10 4 250 Total performing 8,504 6,964 3,123 1,015 534 160 20,300 Nonperforming (Nonaccrual) 90+ days past due 53 256 151 42 24 9 535 Total $ 8,557 $ 7,220 $ 3,274 $ 1,057 $ 558 $ 169 $ 20,835 Gross charge-offs $ 13 $ 527 $ 501 $ 147 $ 81 $ 33 $ 1,302 (dollars in millions) 2022 2021 2020 2019 2018 Prior Total December 31, 2022 Performing Current $ 10,614 $ 4,927 $ 1,758 $ 1,081 $ 240 $ 105 $ 18,725 30-59 days past due 136 136 43 28 9 5 357 60-89 days past due 92 101 32 19 6 3 253 Total performing 10,842 5,164 1,833 1,128 255 113 19,335 Nonperforming (Nonaccrual) 90+ days past due 160 246 74 44 13 7 544 Total $ 11,002 $ 5,410 $ 1,907 $ 1,172 $ 268 $ 120 $ 19,879 The following is a summary of credit cards by number of days delinquent: (dollars in millions) September 30, 2023 December 31, 2022 Current $ 211 $ 93 30-59 days past due 6 3 60-89 days past due 5 3 90+ days past due 10 8 Total $ 232 $ 107 There were no credit cards that were converted to term loans at September 30, 2023 or December 31, 2022. MODIFIED FINANCE RECEIVABLES TO BORROWERS EXPERIENCING FINANCIAL DIFFICULTY We make modifications to our finance receivables to assist borrowers who are experiencing financial difficulty and when we modify the contractual terms for economic or other reasons related to the borrower’s financial difficulties, we classify that receivable as a modified finance receivable. The following tables below represent information regarding modified finance receivables to borrowers experiencing financial difficulty on or after January 1, 2023, the effective date of ASU 2022-02. The period-end carrying value of finance receivables modified during the period were as follows: (dollars in millions) Three Months Ended Nine Months Ended Interest rate reduction and term extension $ 143 $ 378 Interest rate reduction and principal forgiveness 101 260 Total modifications to borrowers experiencing financial difficulties $ 244 $ 638 Modifications as a percent of net finance receivables - personal loans 1.17 % 3.06 % The financial effect of loan modifications made during the period were as follows: (dollars in millions) Three Months Ended Nine Months Ended Weighted-average interest rate reduction 19.15 % 20.01 % Weighted-average term extension (months) 27 24 Principal/interest forgiveness $ 12 $ 32 The performance of modified finance receivables by delinquency status was as follows: (dollars in millions) September 30, 2023 Current $ 465 30-59 days past due 54 60-89 days past due 42 90+ days past due 77 Total* $ 638 * Excludes $33 million of modified finance receivables that subsequently charged off. The period-end carrying value of modified finance receivables for which there was a default during the period to cause the modified finance receivable to be considered nonperforming (90 days or more past due) were as follows: (dollars in millions) Three Months Ended Nine Months Ended Interest rate reduction and term extension $ 35 $ 47 Interest rate reduction and principal forgiveness 10 12 Total $ 45 $ 59 See Notes 2 and 4 for additional information on the adoption of ASU 2022-02. TROUBLED DEBT RESTRUCTURED FINANCE RECEIVABLES PRIOR TO ADOPTION OF ASU 2022-02 ASU 2022-02 superseded the accounting for troubled debt restructurings by creditors. Due to the adoption of this ASU, the following disclosures related to troubled debt restructuring finance receivables are no longer applicable for reporting periods beginning in 2023. Information regarding TDR finance receivables were as follows: (dollars in millions) December 31, 2022 TDR gross finance receivables $ 898 TDR net finance receivables * 904 Allowance for TDR finance receivable losses 369 * 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 December 31, 2022. Information regarding the new volume of the TDR finance receivables were as follows: (dollars in millions) Three Months Ended Nine Months Ended September 30, 2022 Pre-modification TDR net finance receivables $ 245 $ 521 Post-modification TDR net finance receivables: Rate reduction 172 342 Other * 73 179 Total post-modification TDR net finance receivables $ 245 $ 521 Number of TDR accounts 29,448 63,129 * “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: (dollars in millions) Three Months Ended Nine Months Ended September 30, 2022 TDR net finance receivables * $ 34 $ 94 Number of TDR accounts 4,348 11,906 * 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 $204 million at September 30, 2023 and $81 million at December 31, 2022.

Allowance for Finance Receivabl

Allowance for Finance Receivable Losses	9 Months Ended
	Sep. 30, 2023
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 expected lifetime 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 methodology to estimate expected credit losses uses recent macroeconomic forecasts, which include forecasts for unemployment. We leverage projections from various industry leading providers. We also consider inflationary pressures, consumer confidence levels, and interest rate increases that may continue to impact the economic outlook. At September 30, 2023, 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, 2023 was primarily due to the growth in net finance receivables. 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, 2023 Balance at beginning of period $ 2,360 $ 32 $ 2,392 Provision for finance receivable losses 386 24 410 Charge-offs (410) (6) (416) Recoveries 63 — 63 Balance at end of period $ 2,399 $ 50 $ 2,449 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 Nine Months Ended September 30, 2023 Balance at beginning of period $ 2,290 $ 21 $ 2,311 Impact of adoption of ASU 2022-02 * (16) — (16) Provision for finance receivable losses 1,227 48 1,275 Charge-offs (1,302) (19) (1,321) Recoveries 200 — 200 Balance at end of period $ 2,399 $ 50 $ 2,449 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 * As a result of the adoption of ASU 2022-02, we recorded a one-time adjustment to the allowance for finance receivable losses. See Notes 2 and 3 for additional information on the adoption of ASU 2022-02.

Investment Securities

Investment Securities	9 Months Ended
	Sep. 30, 2023
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, 2023* Fixed maturity available-for-sale securities: U.S. government and government sponsored entities $ 15 $ — $ (1) $ 14 Obligations of states, municipalities, and political subdivisions 72 — (8) 64 Commercial paper 23 — — 23 Non-U.S. government and government sponsored entities 163 — (10) 153 Corporate debt 1,149 2 (126) 1,025 Mortgage-backed, asset-backed, and collateralized: RMBS 203 — (31) 172 CMBS 37 — (4) 33 CDO/ABS 90 — (7) 83 Total $ 1,752 $ 2 $ (187) $ 1,567 December 31, 2022* Fixed maturity available-for-sale securities: U.S. government and government sponsored entities $ 17 $ — $ (1) $ 16 Obligations of states, municipalities, and political subdivisions 74 — (8) 66 Commercial paper 55 — — 55 Non-U.S. government and government sponsored entities 150 — (8) 142 Corporate debt 1,251 1 (115) 1,137 Mortgage-backed, asset-backed, and collateralized: RMBS 217 — (25) 192 CMBS 38 — (3) 35 CDO/ABS 95 — (9) 86 Total $ 1,897 $ 1 $ (169) $ 1,729 * The allowance for credit losses related to our investment securities as of September 30, 2023 and December 31, 2022 was immaterial. Interest receivables reported in Other assets in our condensed consolidated balance sheets totaled $14 million as of September 30, 2023 and December 31, 2022. There were no material amounts reversed from investment revenue for available-for-sale securities for the three and nine months ended September 30, 2023 and 2022. 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, 2023 U.S. government and government sponsored entities $ 1 $ — $ 11 $ (1) $ 12 $ (1) Obligations of states, municipalities, and political subdivisions 2 — 59 (8) 61 (8) Commercial paper 23 — — — 23 — Non-U.S. government and government sponsored entities 29 (1) 99 (9) 128 (10) Corporate debt 102 (4) 895 (122) 997 (126) Mortgage-backed, asset-backed, and collateralized: RMBS 22 (1) 148 (30) 170 (31) CMBS 2 — 31 (4) 33 (4) CDO/ABS 10 — 63 (7) 73 (7) Total $ 191 $ (6) $ 1,306 $ (181) $ 1,497 $ (187) December 31, 2022 U.S. government and government sponsored entities $ 10 $ — $ 6 $ (1) $ 16 $ (1) Obligations of states, municipalities, and political subdivisions 48 (5) 15 (3) 63 (8) Commercial paper 51 — — — 51 — Non-U.S. government and government sponsored entities 104 (3) 32 (5) 136 (8) Corporate debt 779 (54) 299 (61) 1,078 (115) Mortgage-backed, asset-backed, and collateralized: RMBS 106 (9) 68 (16) 174 (25) CMBS 21 (2) 13 (1) 34 (3) CDO/ABS 45 (3) 35 (6) 80 (9) Total $ 1,164 $ (76) $ 468 $ (93) $ 1,632 $ (169) On a lot basis, we had 2,192 and 2,280 investment securities in an unrealized loss position at September 30, 2023 and December 31, 2022, 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, 2023, 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, 2023, 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, 2023 and 2022, 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, 2023 and 2022. The proceeds of available-for-sale securities sold or redeemed during the three and nine months ended September 30, 2023 totaled $27 million and $74 million, respectively. 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 net realized gains and losses were immaterial during the three and nine months ended September 30, 2023 and 2022. Contractual maturities of fixed-maturity available-for-sale securities at September 30, 2023 were as follows: (dollars in millions) Fair Amortized Fixed maturities, excluding mortgage-backed, asset-backed, and collateralized securities: Due in 1 year or less $ 151 $ 153 Due after 1 year through 5 years 534 568 Due after 5 years through 10 years 478 557 Due after 10 years 116 144 Mortgage-backed, asset-backed, and collateralized securities 288 330 Total $ 1,567 $ 1,752 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 $488 million and $532 million at September 30, 2023 and December 31, 2022, respectively. OTHER SECURITIES The fair value of other securities by type was as follows: (dollars in millions) September 30, 2023 December 31, 2022 Fixed maturity other securities: Bonds $ 22 $ 23 Preferred stock * 15 15 Common stock * 31 33 Total $ 68 $ 71 * 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 and nine months ended September 30, 2023. 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 realized gains and losses on other securities sold or redeemed were immaterial for the three and nine months ended September 30, 2023 and 2022. 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, 2023
Debt Disclosure [Abstract]
Long-term Debt	6. Long-term Debt Principal maturities of long-term debt by type of debt at September 30, 2023 were as follows: Senior Debt (dollars in millions) Securitizations Private Secured Term Funding Unsecured Junior Total Interest rates (b) 0.87%-7.52% 6.41% 3.50%-9.00% 7.32 % Remainder of 2023 $ — $ — $ 226 $ — $ 226 2024 — — 558 — 558 2025 — — 1,249 — 1,249 2026 — — 1,600 — 1,600 2027 — — 750 — 750 2028-2067 — — 3,432 350 3,782 Secured (c) 11,616 350 — — 11,966 Total principal maturities $ 11,616 $ 350 $ 7,815 $ 350 $ 20,131 Total carrying amount $ 11,567 $ 350 $ 7,762 $ 172 $ 19,851 Debt issuance costs (d) (47) — (55) — (102) (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, 2023. (c) Securitizations and private secured term funding are not included in the above maturities by period due to their variable monthly repayments, which may result in pay-off prior to the stated maturity date. At September 30, 2023, there were no amounts drawn under our revolving conduit facilities. 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 $32 million at September 30, 2023 and are reported in Other assets in our condensed consolidated balance sheets. UNSECURED CORPORATE REVOLVER At September 30, 2023, the total maximum borrowing capacity of our unsecured corporate revolver was $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, 2023, no amounts were drawn under this facility.

Variable Interest Entities

Variable Interest Entities	9 Months Ended
	Sep. 30, 2023
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, 2023 December 31, 2022 Assets Cash and cash equivalents $ 2 $ 2 Net finance receivables 13,229 10,432 Allowance for finance receivable losses 1,480 1,126 Restricted cash and restricted cash equivalents 564 442 Other assets 30 28 Liabilities Long-term debt $ 11,917 $ 9,361 Other liabilities 27 20 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 $128 million and $343 million during the three and nine months ended September 30, 2023, respectively, compared to $81 million and $214 million during the three and nine months ended September 30, 2022, respectively. SECURITIZED BORROWINGS Each of our outstanding securitizations contain a revolving period ranging from two PRIVATE SECURED TERM FUNDING At September 30, 2023, 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, 2023. 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 nine years as of September 30, 2023. Amounts drawn on these facilities are collateralized by our personal loans. At September 30, 2023, no amounts were drawn under these facilities.

Insurance

Insurance	9 Months Ended
	Sep. 30, 2023
Insurance [Abstract]
Insurance	8. Insurance Changes in the reserve for unpaid claims and loss adjustment expenses (net of reinsurance recoverables) on our short-duration insurance contracts: At or for the (dollars in millions) 2023 2022 (a) Balance at beginning of period $ 93 $ 102 Less reinsurance recoverables (3) (3) Net balance at beginning of period 90 99 Additions for losses and loss adjustment expenses incurred to: Current year 127 114 Prior years (b) (2) (13) Total 125 101 Reductions for losses and loss adjustment expenses paid related to: Current year (67) (59) Prior years (49) (50) Total (116) (109) Foreign currency translation adjustment — 1 Net balance at end of period 99 92 Plus reinsurance recoverables 3 3 Balance at end of period $ 102 $ 95 (a) As a result of the modified retrospective adoption of ASU 2018-12, we have recorded a $16 million reduction to the 2022 beginning balance, and the previously reported balances were recast to exclude reserves for unpaid claims on our long-duration contracts. These reserves have been included in our estimate of the liability for future policy benefits as of the transition date of January 1, 2021. See Note 2 for additional information on the adoption of ASU 2018-12. (b) At September 30, 2023, $2 million reflected a redundancy in the prior years’ net reserves, primarily due to favorable development of credit disability claims during the period. At September 30, 2022, $13 million reflected a redundancy in the prior years’ net reserves, primarily due to favorable development of credit life and credit disability claims during the period. LIABILITY FOR FUTURE POLICY BENEFITS The present value of expected net premiums on long-duration insurance contracts were as follows: At or for the 2023 2022 (dollars in millions) Term and Accidental Death and Disability Protection Term and Accidental Death and Disability Protection Balance at beginning of period $ 252 $ 48 $ 313 $ 69 Effect of cumulative changes in discount rate assumptions (beginning of period) (8) — (53) (10) Beginning balance at original discount rate 244 48 260 59 Effect of changes in cash flow assumptions (2) (1) — — Effect of actual variances from expected experience (7) (1) 15 (3) Adjusted balance at beginning of period 235 46 275 56 Interest accretion 9 2 10 2 Net premiums collected (25) (5) (37) (9) Ending balance at original discount rate 219 43 248 49 Effect of changes in discount rate assumptions (3) (2) (1) (1) Balance at ending of period $ 216 $ 41 $ 247 $ 48 The present value of expected future policy benefits on long-duration insurance contracts were as follows: At or for the 2023 2022 (dollars in millions) Term and Accidental Death and Disability Protection Term and Accidental Death and Disability Protection Balance at beginning of period $ 483 $ 126 $ 601 $ 165 Effect of cumulative changes in discount rate assumptions (beginning of period) (17) (1) (109) (27) Beginning balance at original discount rate 466 125 492 138 Effect of changes in cash flow assumptions (4) (1) — — Effect of actual variances from expected experience (9) 1 2 (7) Adjusted balance at beginning of period 453 125 494 131 Net issuances 2 1 2 — Interest accretion 18 4 19 5 Benefit payments (41) (14) (45) (10) Ending balance at original discount rate 432 116 470 126 Effect of changes in discount rate assumptions (4) (5) — (3) Balance at ending of period $ 428 $ 111 $ 470 $ 123 The net liability for future policy benefits on long-duration insurance contracts were as follows: At or for the 2023 2022 (dollars in millions) Term and Accidental Death and Disability Protection Term and Accidental Death and Disability Protection Net liability for future policy benefits $ 212 $ 70 $ 223 $ 75 Deferred profit liability 14 53 16 58 Total net liability for future policy benefits $ 226 $ 123 $ 239 $ 133 The weighted-average duration of the liability for future policy benefits was 8 years at September 30, 2023 and September 30, 2022. The following table reconciles the net liability for future policy benefits to Insurance claims and policyholder liabilities in the condensed consolidated balance sheets: At or for the (dollars in millions) 2023 2022 Term and whole life $ 226 $ 239 Accidental death and disability protection 123 133 Other* 250 229 Total $ 599 $ 601 * Other primarily includes reserves for short-duration contracts that are payable to third-party beneficiaries. The undiscounted and discounted expected future gross premiums and expected future benefits and expenses for our long-duration insurance contracts were as follows: At or for the 2023 2022 (dollars in millions) Term and Accidental Death and Disability Protection Term and Accidental Death and Disability Protection Expected future gross premiums: Undiscounted $ 445 $ 150 $ 503 $ 167 Discounted 310 105 353 117 Expected future benefit payments: Undiscounted 622 171 683 185 Discounted 428 111 470 123 The revenue and interest accretion related to our long-duration insurance contracts recognized in the condensed consolidated statements of operations were as follows: At or for the 2023 2022 (dollars in millions) Term and Accidental Death and Disability Protection Term and Accidental Death and Disability Protection Gross premiums or assessments $ 44 $ 14 $ 47 $ 15 Interest accretion $ 9 $ 3 $ 9 $ 3 The expected and actual experience for mortality, morbidity, and lapses of the liability for future policy benefits were as follows: At or for the 2023 2022 Term and Accidental Death and Disability Protection Term and Accidental Death and Disability Protection Mortality/Morbidity: Expected 0.38 % 0.01 % 0.39 % 0.01 % Actual 0.35 % 0.01 % 0.36 % 0.01 % Lapses: Expected 2.85 % 1.95 % 4.19 % 1.95 % Actual 2.27 % 2.07 % 2.11 % 3.09 % The weighted-average interest rates for the liability of future policy benefits for our long-duration insurance contracts were as follows: At or for the 2023 2022 Term and Accidental Death and Disability Protection Term and Accidental Death and Disability Protection Interest accretion rate 5.27 % 4.86 % 5.26 % 4.86 % Current discount rate 5.60 % 5.59 % 5.49 % 5.40 %

Capital Stock and Earnings Per

Capital Stock and Earnings Per Share (OMH Only)	9 Months Ended
	Sep. 30, 2023
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, 2023 2022 2023 2022 Balance at beginning of period 120,446,799 123,726,559 121,042,125 127,809,640 Common stock issued 45,507 44,479 261,955 310,751 Common stock repurchased (268,269) (1,180,433) (1,120,903) (5,559,382) Treasury stock issued 21,260 28,143 62,120 57,739 Balance at end of period 120,245,297 122,618,748 120,245,297 122,618,748 EARNINGS PER SHARE (OMH ONLY) The computation of earnings per share was as follows: Three Months Ended Nine Months Ended (dollars in millions, except per share data) 2023 2022 2023 2022 Numerator (basic and diluted): Net income $ 194 $ 185 $ 476 $ 696 Denominator: Weighted average number of shares outstanding (basic) 120,407,889 123,352,522 120,571,103 124,989,263 Effect of dilutive securities * 346,805 216,098 219,382 253,943 Weighted average number of shares outstanding (diluted) 120,754,694 123,568,620 120,790,485 125,243,206 Earnings per share: Basic $ 1.61 $ 1.50 $ 3.95 $ 5.56 Diluted $ 1.61 $ 1.49 $ 3.94 $ 5.55 * We have excluded weighted-average unvested restricted stock units totaling 886,333 and 1,278,052 for the three months ended September 30, 2023 and 2022, respectively, and 933,663 and 1,230,739 for the nine months ended September 30, 2023 and 2022, 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, 2023
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 Changes in discount rate for insurance claims and policyholder liabilities Other (b) Total Three Months Ended Balance at beginning of period $ (124) $ (8) $ (2) $ (3) $ 23 $ (114) Other comprehensive income (loss) before reclassifications (22) — (3) 7 3 (15) Balance at end of period $ (146) $ (8) $ (5) $ 4 $ 26 $ (129) Three Months Ended Balance at beginning of period $ (95) $ 1 $ 1 $ (13) $ 23 $ (83) Other comprehensive income (loss) before reclassifications (50) — (8) 14 3 (41) Balance at end of period $ (145) $ 1 $ (7) $ 1 $ 26 $ (124) Nine Months Ended Balance at beginning of period $ (131) $ (8) $ (5) $ (8) $ 25 $ (127) Other comprehensive income (loss) before reclassifications (15) — — 12 1 (2) Balance at end of period $ (146) $ (8) $ (5) $ 4 $ 26 $ (129) Nine Months Ended Balance at beginning of period $ 49 $ 1 $ 3 $ (56) $ 8 $ 5 Other comprehensive income (loss) before reclassifications (191) — (10) 57 18 (126) Reclassification adjustments from accumulated other comprehensive income (3) — — — — (3) Balance at end of period $ (145) $ 1 $ (7) $ 1 $ 26 $ (124) (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, 2023 and 2022. (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 condensed consolidated statements of operations were immaterial for the three and nine months ended September 30, 2023 and 2022.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	11. Income Taxes We had a net deferred tax asset of $482 million and $456 million at September 30, 2023 and December 31, 2022, respectively. 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, 2023 was 23.1%, compared to 24.6% for the same period in 2022. The effective tax rate for the nine months ended September 30, 2023 and 2022 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 $7 million at September 30, 2023 and $6 million at December 31, 2022. 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 condensed consolidated financial statements.

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2023
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 condensed 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 condensed 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. On May 31, 2023, the Company entered into a consent order with the CFPB to resolve this previously disclosed investigation focused on certain refunding practices for optional insurance and membership plan products that were subsequently canceled by the customer after purchase. Pursuant to the consent order, we agreed to issue $10 million in interest refunds to affected customers, pay a $10 million civil penalty and make certain other enhancements to our sales and refunding practices. In agreeing to the consent order, we did not admit to any of the CFPB’s factual findings or legal conclusions.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Segment Information	13. Segment Information At September 30, 2023, 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 condensed consolidated financial statement amounts. (dollars in millions) Consumer Other Segment to Consolidated Three Months Ended September 30, 2023 Interest income $ 1,166 $ 1 $ — $ 1,167 Interest expense 265 1 1 267 Provision for finance receivable losses 410 — — 410 Net interest income after provision for finance receivable losses 491 — (1) 490 Other revenues 182 3 — 185 Other expenses 423 7 (1) 429 Income (loss) before income tax expense (benefit) $ 250 $ (4) $ — $ 246 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 396 3 (1) 398 Income before income tax expense $ 247 $ 1 $ (2) $ 246 Nine Months Ended September 30, 2023 Interest income $ 3,373 $ 3 $ 1 $ 3,377 Interest expense 744 2 3 749 Provision for finance receivable losses 1,275 — — 1,275 Net interest income after provision for finance receivable losses 1,354 1 (2) 1,353 Other revenues 543 5 — 548 Other expenses 1,273 11 (2) 1,282 Income (loss) before income tax expense (benefit) $ 624 $ (5) $ — $ 619 Assets $ 22,899 $ 30 $ 1,217 $ 24,146 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 1,182 11 (2) 1,191 Income before income tax expense $ 925 $ 1 $ (3) $ 923 Assets $ 20,281 $ 40 $ 2,020 $ 22,341

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2023
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, 2023 Assets Cash and cash equivalents $ 1,180 $ 10 $ — $ 1,190 $ 1,190 Investment securities 50 1,581 4 1,635 1,635 Net finance receivables, less allowance for finance receivable losses — — 20,384 20,384 18,618 Restricted cash and restricted cash equivalents 580 — — 580 580 Other assets * — — 38 38 29 Liabilities Long-term debt $ — $ 18,755 $ — $ 18,755 $ 19,851 December 31, 2022 Assets Cash and cash equivalents $ 481 $ 17 $ — $ 498 $ 498 Investment securities 51 1,744 5 1,800 1,800 Net finance receivables, less allowance for finance receivable losses — — 19,272 19,272 17,675 Restricted cash and restricted cash equivalents 450 11 — 461 461 Other assets * — — 43 43 35 Liabilities Long-term debt $ — $ 16,969 $ — $ 16,969 $ 18,281 * Other assets at September 30, 2023 and December 31, 2022 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, 2023 Assets Cash equivalents in mutual funds $ 113 $ — $ — $ 113 Cash equivalents in securities — 10 — 10 Investment securities: Available-for-sale securities U.S. government and government sponsored entities — 14 — 14 Obligations of states, municipalities, and political subdivisions — 64 — 64 Commercial paper — 23 — 23 Non-U.S. government and government sponsored entities — 153 — 153 Corporate debt 6 1,017 2 1,025 RMBS — 172 — 172 CMBS — 33 — 33 CDO/ABS — 83 — 83 Total available-for-sale securities 6 1,559 2 1,567 Other securities Bonds: Corporate debt — 5 — 5 CDO/ABS — 17 — 17 Total bonds — 22 — 22 Preferred stock 15 — — 15 Common stock 29 — 2 31 Total other securities 44 22 2 68 Total investment securities 50 1,581 4 1,635 Restricted cash equivalents in mutual funds 566 — — 566 Total $ 729 $ 1,591 $ 4 $ 2,324 Fair Value Measurements Using Total Carried At Fair Value (dollars in millions) Level 1 Level 2 Level 3 December 31, 2022 Assets Cash equivalents in mutual funds $ 77 $ — $ — $ 77 Cash equivalents in securities — 17 — 17 Investment securities: Available-for-sale securities U.S. government and government sponsored entities — 16 — 16 Obligations of states, municipalities, and political subdivisions — 66 — 66 Commercial paper — 55 — 55 Non-U.S. government and government sponsored entities — 142 — 142 Corporate debt 5 1,129 3 1,137 RMBS — 192 — 192 CMBS — 35 — 35 CDO/ABS — 86 — 86 Total available-for-sale securities 5 1,721 3 1,729 Other securities Bonds: Corporate debt — 6 — 6 RMBS — 1 — 1 CDO/ABS — 16 — 16 Total bonds — 23 — 23 Preferred stock 15 — — 15 Common stock 31 — 2 33 Total other securities 46 23 2 71 Total investment securities 51 1,744 5 1,800 Restricted cash equivalents in mutual funds 445 — — 445 Restricted cash equivalents in securities — 11 — 11 Total $ 573 $ 1,772 $ 5 $ 2,350 Due to the insignificant activity within the Level 3 assets during the three and nine months ended September 30, 2023 and 2022, 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, 2023 and 2022. 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.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net income	$ 194	$ 185	$ 476	$ 696

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Business and Basis of Present_2

Business and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2023
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 PRONUNCEMENTS RECENTLY ADOPTED	Insurance In August of 2018, the FASB issued ASU 2018-12, Financial Services - Insurance: Targeted Improvements to the Accounting for Long-Duration Contracts , which provides targeted improvements to Topic 944 for the assumptions used to measure the liability for future policy benefits for nonparticipating traditional and limited-payment contracts; measurement of market risk benefits; amortization of deferred acquisition costs; and enhanced disclosures. The ASU requires the assumptions used to measure the liability for future policy benefits to be updated at least annually. The guidance prescribes 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 became effective for the Company beginning January 1, 2023 and we adopted using the modified retrospective transition method. This ASU required a transition date of January 1, 2021 and resulted in recasting prior periods. As a result of the adoption of ASU 2018-12, our significant accounting policy related to long-duration insurance contracts for policy and claim reserves has changed to reflect the requirements of the new standard. See below for the updated significant accounting policy as of the transition date of January 1, 2021. Policy and Claim Reserves Policy reserves are established for our long-duration contracts. The liability for future policy benefits is the present value of estimated future policy benefits to be paid to or on behalf of policyholders less the present value of estimated future net premiums to be collected from policyholders. To estimate the liability, we make assumptions for mortality, morbidity, lapses, and the discount rate. At least annually, we update our estimate of the liability with actual experience and review our cash flow assumptions. The updated liability is discounted at the original discount rate at contract inception, and the change in the balance is recognized as a remeasurement gain or loss and included in Insurance policy benefits and claims in our consolidated statements of operations. The discount rate assumption is the equivalent of an upper-medium grade fixed-income instrument yield. To determine the original discount rate at contract inception, we use a weighted average rate based on a forward yield curve over the contract issue year. At each reporting period, the liability is remeasured using the current discount rate and the change in the liability due to the discount rate is recognized in Accumulated other comprehensive income (loss) in our consolidated balance sheets. 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. We adopted the amendments in this ASU as of January 1, 2023 using the modified retrospective transition method. Upon adoption, we recorded a decrease to the allowance for finance receivable losses of $16 million, a decrease to deferred tax assets of $4 million and a one-time corresponding cumulative increase to retained earnings, net of tax, of $12 million in our consolidated balance sheets as of January 1, 2023. As a result of the adoption of ASU 2022-02, several of our significant accounting policies have changed to reflect the requirements of the new standard. See below for the updated significant accounting policies as of January 1, 2023. Troubled Debt Restructured Finance Receivables ASU 2022-02 superseded the accounting for troubled debt restructurings by creditors. As a result of the adoption of this ASU, the accounting for TDRs is no longer applicable for periods beginning on or after January 1, 2023. Modified Finance Receivables to Borrowers Experiencing Financial Difficulty We make modifications to our finance receivables to assist borrowers who are experiencing financial difficulty, participating in a counseling or settlement arrangement, or are in bankruptcy. When we modify the contractual terms for economic or other reasons related to the borrower’s financial difficulties, we classify that receivable as a modified finance receivable. We restructure finance receivables only if we believe the customer has the ability to pay under the restructured terms for the foreseeable future. When we modify an account, we primarily use a combination of the following to reduce the borrower’s monthly payment: reduce the interest rate, extend the term, defer or forgive past due interest, or forgive principal. As part of the modification, we may require qualifying payments before the accounts are generally brought current for delinquency reporting. In addition, for principal forgiveness, we may require future payment performance by the borrower under the modified terms before the balances are contractually forgiven. We fully reserve for any potential principal forgiveness in our allowance for finance receivable losses. Account modifications that are deemed to be a modified finance receivable are measured for impairment in accordance with our policy for allowance for finance receivable losses. Allowance for Finance Receivable Losses We establish the allowance for finance receivable losses through the provision for finance receivable losses. We evaluate our finance receivable portfolio by level of contractual delinquency in the portfolio, specifically in the late-stage delinquency buckets and inclusive of the migration of the loans through the delinquency buckets. Our finance receivables consist of a large number of relatively small, homogeneous accounts. We evaluate our finance receivables for impairment as pools. None of our accounts are large enough to warrant individual evaluation for impairment. We estimate the allowance for finance receivable losses primarily on historical loss experience using a cumulative loss model applied to our personal loan portfolios. Our gross credit loss expectation is offset by the estimate of future recoveries using historical recovery curves. Our personal loans are primarily segmented in the loss model by contractual delinquency status. Other attributes in the model include loan modification status, collateral mix and recent credit score. To estimate the gross credit losses, the model utilizes a roll rate matrix to project the first 12 months of losses and historical cohort performance to project the expected losses over the remaining term. Our methodology relies on historical loss experience to forecast the corresponding future outcomes. These patterns are then applied to the current portfolio to obtain an estimate of future losses. We also consider key economic trends including unemployment rates. Forecasted macroeconomic conditions extend to our reasonable and supportable forecast period and revert to a historical average. No new volume is assumed. Personal loan renewals are a significant piece of our new volume and are considered a terminal event of the previous loan. For our personal loans, we have elected not to measure an allowance on accrued finance charges as it is our policy to reverse finance charge amounts previously accrued after four contractual payments become past due. For credit cards, we measure an allowance on uncollected finance charges, but do not measure an allowance on the unfunded portion of the credit card lines as the accounts are unconditionally cancellable. Management exercises its judgment when determining the amount of allowance for finance receivable losses. Our judgment is based on quantitative analyses, qualitative factors (such as recent portfolio, industry, and other economic trends), and experience in the consumer finance industry. We adjust the amounts determined by our model for management’s estimate of the effects of model imprecision which include but are not limited to, any changes to underwriting criteria and portfolio seasoning. We generally charge off to the allowance for finance receivable losses on personal loans and credit cards that are beyond seven payments (approximately 180 days) past due. Exceptions include accounts in bankruptcy, which are generally charged off at the earlier of notice of discharge or when the customer becomes seven payments past due, and accounts of deceased borrowers, which are generally charged off at the time of notice. Generally, we start repossession of any titled personal property when the customer becomes two payments (approximately 30 days) past due and may charge off prior to the account becoming seven payments (approximately 180 days) past due. We may renew delinquent secured or unsecured personal loan accounts if the customer meets current underwriting criteria and it does not appear that the cause of past delinquency will affect the customer’s ability to repay the renewed loan. We subject all renewals to the same credit risk underwriting process as we would a new application for credit. See Notes 3 and 4 for additional information on the adoption of ASU 2022-02.

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Tables)	9 Months Ended
	Sep. 30, 2023
Accounting Changes and Error Corrections [Abstract]
Accounting Standards Update and Change in Accounting Principle	The effects of the adoption of ASU 2018-12 to our condensed consolidated balance sheets were as follows: (dollars in millions) As Reported ASU 2018-12 Adjustment As Recast December 31, 2022 Other assets (OMH only) $ 1,150 $ 4 $ 1,154 Other assets (OMFC only) 1,148 4 1,152 Insurance claims and policyholder liabilities 602 18 620 Accumulated other comprehensive loss (119) (8) (127) Retained earnings (OMH only) 2,125 (6) 2,119 Retained earnings (OMFC only) 1,199 (6) 1,193 September 30, 2022 Insurance claims and policyholder liabilities $ 600 $ 1 $ 601 Accumulated other comprehensive loss (125) 1 (124) Retained earnings (OMH only) 2,063 (2) 2,061 Retained earnings (OMFC only) 1,176 (2) 1,174 December 31, 2021 Other assets (OMH only) $ 1,003 $ 16 $ 1,019 Other assets (OMFC only) 1,001 16 1,017 Insurance claims and policyholder liabilities 621 72 693 Accumulated other comprehensive income 61 (56) 5 January 1, 2021 Other assets (OMH and OMFC) $ 1,054 $ 21 $ 1,075 Insurance claims and policyholder liabilities 621 97 718 Accumulated other comprehensive income 94 (76) 18 The effects of the adoption of ASU 2018-12 to our condensed consolidated statements of operations were as follows: (dollars in millions, except per share amounts) As Reported ASU 2018-12 Adjustment As Recast Three Months Ended September 30, 2022 Insurance policy benefits and claims $ 31 $ 4 $ 35 Income before income taxes 250 (4) 246 Income taxes 62 (1) 61 Net income 188 (3) 185 Basic EPS (OMH only) 1.52 (0.02) 1.50 Diluted EPS (OMH only) 1.52 (0.03) 1.49 Nine Months Ended September 30, 2022 Insurance policy benefits and claims $ 116 $ 3 $ 119 Income before income taxes 926 (3) 923 Income taxes 228 (1) 227 Net income 698 (2) 696 Basic EPS (OMH only) 5.58 (0.02) 5.56 Diluted EPS (OMH only) 5.57 (0.02) 5.55 The effects of the adoption of ASU 2018-12 to our condensed consolidated statements of comprehensive income were as follows: (dollars in millions) As Reported ASU 2018-12 Adjustment As Recast Three Months Ended September 30, 2022 Comprehensive income $ 133 $ 11 $ 144 Nine Months Ended September 30, 2022 Comprehensive income $ 512 $ 55 $ 567 The effects of the adoption of ASU 2018-12 to our condensed consolidated statements of cash flows were as follows: (dollars in millions) As Reported ASU 2018-12 Adjustment As Recast Nine Months Ended September 30, 2022 Net income $ 698 $ (2) $ 696 Deferred income tax charge (44) (1) (45) Cash flows due to changes in other assets and other liabilities (124) 3 (121)

Finance Receivables (Tables)

Finance Receivables (Tables)	9 Months Ended
	Sep. 30, 2023
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, 2023 Gross finance receivables * $ 20,564 $ 226 $ 20,790 Unearned fees (233) — (233) Accrued finance charges and fees 303 — 303 Deferred origination costs 201 6 207 Total $ 20,835 $ 232 $ 21,067 December 31, 2022 Gross finance receivables * $ 19,615 $ 107 $ 19,722 Unearned fees (220) — (220) Accrued finance charges and fees 299 — 299 Deferred origination costs 185 — 185 Total $ 19,879 $ 107 $ 19,986
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) 2023 2022 2021 2020 2019 Prior Total September 30, 2023 Performing Current $ 8,394 $ 6,692 $ 2,967 $ 970 $ 507 $ 149 $ 19,679 30-59 days past due 69 159 92 27 17 7 371 60-89 days past due 41 113 64 18 10 4 250 Total performing 8,504 6,964 3,123 1,015 534 160 20,300 Nonperforming (Nonaccrual) 90+ days past due 53 256 151 42 24 9 535 Total $ 8,557 $ 7,220 $ 3,274 $ 1,057 $ 558 $ 169 $ 20,835 Gross charge-offs $ 13 $ 527 $ 501 $ 147 $ 81 $ 33 $ 1,302 (dollars in millions) 2022 2021 2020 2019 2018 Prior Total December 31, 2022 Performing Current $ 10,614 $ 4,927 $ 1,758 $ 1,081 $ 240 $ 105 $ 18,725 30-59 days past due 136 136 43 28 9 5 357 60-89 days past due 92 101 32 19 6 3 253 Total performing 10,842 5,164 1,833 1,128 255 113 19,335 Nonperforming (Nonaccrual) 90+ days past due 160 246 74 44 13 7 544 Total $ 11,002 $ 5,410 $ 1,907 $ 1,172 $ 268 $ 120 $ 19,879 The following is a summary of credit cards by number of days delinquent: (dollars in millions) September 30, 2023 December 31, 2022 Current $ 211 $ 93 30-59 days past due 6 3 60-89 days past due 5 3 90+ days past due 10 8 Total $ 232 $ 107
Schedule of information regarding Modified Finance Receivables	The period-end carrying value of finance receivables modified during the period were as follows: (dollars in millions) Three Months Ended Nine Months Ended Interest rate reduction and term extension $ 143 $ 378 Interest rate reduction and principal forgiveness 101 260 Total modifications to borrowers experiencing financial difficulties $ 244 $ 638 Modifications as a percent of net finance receivables - personal loans 1.17 % 3.06 % The financial effect of loan modifications made during the period were as follows: (dollars in millions) Three Months Ended Nine Months Ended Weighted-average interest rate reduction 19.15 % 20.01 % Weighted-average term extension (months) 27 24 Principal/interest forgiveness $ 12 $ 32 The performance of modified finance receivables by delinquency status was as follows: (dollars in millions) September 30, 2023 Current $ 465 30-59 days past due 54 60-89 days past due 42 90+ days past due 77 Total* $ 638 * Excludes $33 million of modified finance receivables that subsequently charged off. The period-end carrying value of modified finance receivables for which there was a default during the period to cause the modified finance receivable to be considered nonperforming (90 days or more past due) were as follows: (dollars in millions) Three Months Ended Nine Months Ended Interest rate reduction and term extension $ 35 $ 47 Interest rate reduction and principal forgiveness 10 12 Total $ 45 $ 59
Schedule of TDR finance receivables	Information regarding TDR finance receivables were as follows: (dollars in millions) December 31, 2022 TDR gross finance receivables $ 898 TDR net finance receivables * 904 Allowance for TDR finance receivable losses 369 * 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: (dollars in millions) Three Months Ended Nine Months Ended September 30, 2022 Pre-modification TDR net finance receivables $ 245 $ 521 Post-modification TDR net finance receivables: Rate reduction 172 342 Other * 73 179 Total post-modification TDR net finance receivables $ 245 $ 521 Number of TDR accounts 29,448 63,129 * “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: (dollars in millions) Three Months Ended Nine Months Ended September 30, 2022 TDR net finance receivables * $ 34 $ 94 Number of TDR accounts 4,348 11,906 * 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, 2023
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, 2023 Balance at beginning of period $ 2,360 $ 32 $ 2,392 Provision for finance receivable losses 386 24 410 Charge-offs (410) (6) (416) Recoveries 63 — 63 Balance at end of period $ 2,399 $ 50 $ 2,449 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 Nine Months Ended September 30, 2023 Balance at beginning of period $ 2,290 $ 21 $ 2,311 Impact of adoption of ASU 2022-02 * (16) — (16) Provision for finance receivable losses 1,227 48 1,275 Charge-offs (1,302) (19) (1,321) Recoveries 200 — 200 Balance at end of period $ 2,399 $ 50 $ 2,449 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 * As a result of the adoption of ASU 2022-02, we recorded a one-time adjustment to the allowance for finance receivable losses. See Notes 2 and 3 for additional information on the adoption of ASU 2022-02.

Investment Securities (Tables)

Investment Securities (Tables)	9 Months Ended
	Sep. 30, 2023
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, 2023* Fixed maturity available-for-sale securities: U.S. government and government sponsored entities $ 15 $ — $ (1) $ 14 Obligations of states, municipalities, and political subdivisions 72 — (8) 64 Commercial paper 23 — — 23 Non-U.S. government and government sponsored entities 163 — (10) 153 Corporate debt 1,149 2 (126) 1,025 Mortgage-backed, asset-backed, and collateralized: RMBS 203 — (31) 172 CMBS 37 — (4) 33 CDO/ABS 90 — (7) 83 Total $ 1,752 $ 2 $ (187) $ 1,567 December 31, 2022* Fixed maturity available-for-sale securities: U.S. government and government sponsored entities $ 17 $ — $ (1) $ 16 Obligations of states, municipalities, and political subdivisions 74 — (8) 66 Commercial paper 55 — — 55 Non-U.S. government and government sponsored entities 150 — (8) 142 Corporate debt 1,251 1 (115) 1,137 Mortgage-backed, asset-backed, and collateralized: RMBS 217 — (25) 192 CMBS 38 — (3) 35 CDO/ABS 95 — (9) 86 Total $ 1,897 $ 1 $ (169) $ 1,729 * The allowance for credit losses related to our investment securities as of September 30, 2023 and December 31, 2022 was 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, 2023 U.S. government and government sponsored entities $ 1 $ — $ 11 $ (1) $ 12 $ (1) Obligations of states, municipalities, and political subdivisions 2 — 59 (8) 61 (8) Commercial paper 23 — — — 23 — Non-U.S. government and government sponsored entities 29 (1) 99 (9) 128 (10) Corporate debt 102 (4) 895 (122) 997 (126) Mortgage-backed, asset-backed, and collateralized: RMBS 22 (1) 148 (30) 170 (31) CMBS 2 — 31 (4) 33 (4) CDO/ABS 10 — 63 (7) 73 (7) Total $ 191 $ (6) $ 1,306 $ (181) $ 1,497 $ (187) December 31, 2022 U.S. government and government sponsored entities $ 10 $ — $ 6 $ (1) $ 16 $ (1) Obligations of states, municipalities, and political subdivisions 48 (5) 15 (3) 63 (8) Commercial paper 51 — — — 51 — Non-U.S. government and government sponsored entities 104 (3) 32 (5) 136 (8) Corporate debt 779 (54) 299 (61) 1,078 (115) Mortgage-backed, asset-backed, and collateralized: RMBS 106 (9) 68 (16) 174 (25) CMBS 21 (2) 13 (1) 34 (3) CDO/ABS 45 (3) 35 (6) 80 (9) Total $ 1,164 $ (76) $ 468 $ (93) $ 1,632 $ (169)
Schedule of contractual maturities of fixed-maturity available-for-sale securities	Contractual maturities of fixed-maturity available-for-sale securities at September 30, 2023 were as follows: (dollars in millions) Fair Amortized Fixed maturities, excluding mortgage-backed, asset-backed, and collateralized securities: Due in 1 year or less $ 151 $ 153 Due after 1 year through 5 years 534 568 Due after 5 years through 10 years 478 557 Due after 10 years 116 144 Mortgage-backed, asset-backed, and collateralized securities 288 330 Total $ 1,567 $ 1,752
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, 2023 December 31, 2022 Fixed maturity other securities: Bonds $ 22 $ 23 Preferred stock * 15 15 Common stock * 31 33 Total $ 68 $ 71 * 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, 2023
Debt Disclosure [Abstract]
Schedule of principal maturities of long-term debt	Principal maturities of long-term debt by type of debt at September 30, 2023 were as follows: Senior Debt (dollars in millions) Securitizations Private Secured Term Funding Unsecured Junior Total Interest rates (b) 0.87%-7.52% 6.41% 3.50%-9.00% 7.32 % Remainder of 2023 $ — $ — $ 226 $ — $ 226 2024 — — 558 — 558 2025 — — 1,249 — 1,249 2026 — — 1,600 — 1,600 2027 — — 750 — 750 2028-2067 — — 3,432 350 3,782 Secured (c) 11,616 350 — — 11,966 Total principal maturities $ 11,616 $ 350 $ 7,815 $ 350 $ 20,131 Total carrying amount $ 11,567 $ 350 $ 7,762 $ 172 $ 19,851 Debt issuance costs (d) (47) — (55) — (102) (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, 2023. (c) Securitizations and private secured term funding are not included in the above maturities by period due to their variable monthly repayments, which may result in pay-off prior to the stated maturity date. At September 30, 2023, there were no amounts drawn under our revolving conduit facilities. 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 $32 million at September 30, 2023 and are reported in Other assets in our condensed consolidated balance sheets.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	9 Months Ended
	Sep. 30, 2023
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, 2023 December 31, 2022 Assets Cash and cash equivalents $ 2 $ 2 Net finance receivables 13,229 10,432 Allowance for finance receivable losses 1,480 1,126 Restricted cash and restricted cash equivalents 564 442 Other assets 30 28 Liabilities Long-term debt $ 11,917 $ 9,361 Other liabilities 27 20

Insurance (Tables)

Insurance (Tables)	9 Months Ended
	Sep. 30, 2023
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) on our short-duration insurance contracts: At or for the (dollars in millions) 2023 2022 (a) Balance at beginning of period $ 93 $ 102 Less reinsurance recoverables (3) (3) Net balance at beginning of period 90 99 Additions for losses and loss adjustment expenses incurred to: Current year 127 114 Prior years (b) (2) (13) Total 125 101 Reductions for losses and loss adjustment expenses paid related to: Current year (67) (59) Prior years (49) (50) Total (116) (109) Foreign currency translation adjustment — 1 Net balance at end of period 99 92 Plus reinsurance recoverables 3 3 Balance at end of period $ 102 $ 95 (a) As a result of the modified retrospective adoption of ASU 2018-12, we have recorded a $16 million reduction to the 2022 beginning balance, and the previously reported balances were recast to exclude reserves for unpaid claims on our long-duration contracts. These reserves have been included in our estimate of the liability for future policy benefits as of the transition date of January 1, 2021. See Note 2 for additional information on the adoption of ASU 2018-12. (b) At September 30, 2023, $2 million reflected a redundancy in the prior years’ net reserves, primarily due to favorable development of credit disability claims during the period. At September 30, 2022, $13 million reflected a redundancy in the prior years’ net reserves, primarily due to favorable development of credit life and credit disability claims during the period.
Liability for Future Policy Benefit, Activity	The present value of expected net premiums on long-duration insurance contracts were as follows: At or for the 2023 2022 (dollars in millions) Term and Accidental Death and Disability Protection Term and Accidental Death and Disability Protection Balance at beginning of period $ 252 $ 48 $ 313 $ 69 Effect of cumulative changes in discount rate assumptions (beginning of period) (8) — (53) (10) Beginning balance at original discount rate 244 48 260 59 Effect of changes in cash flow assumptions (2) (1) — — Effect of actual variances from expected experience (7) (1) 15 (3) Adjusted balance at beginning of period 235 46 275 56 Interest accretion 9 2 10 2 Net premiums collected (25) (5) (37) (9) Ending balance at original discount rate 219 43 248 49 Effect of changes in discount rate assumptions (3) (2) (1) (1) Balance at ending of period $ 216 $ 41 $ 247 $ 48 The present value of expected future policy benefits on long-duration insurance contracts were as follows: At or for the 2023 2022 (dollars in millions) Term and Accidental Death and Disability Protection Term and Accidental Death and Disability Protection Balance at beginning of period $ 483 $ 126 $ 601 $ 165 Effect of cumulative changes in discount rate assumptions (beginning of period) (17) (1) (109) (27) Beginning balance at original discount rate 466 125 492 138 Effect of changes in cash flow assumptions (4) (1) — — Effect of actual variances from expected experience (9) 1 2 (7) Adjusted balance at beginning of period 453 125 494 131 Net issuances 2 1 2 — Interest accretion 18 4 19 5 Benefit payments (41) (14) (45) (10) Ending balance at original discount rate 432 116 470 126 Effect of changes in discount rate assumptions (4) (5) — (3) Balance at ending of period $ 428 $ 111 $ 470 $ 123 The net liability for future policy benefits on long-duration insurance contracts were as follows: At or for the 2023 2022 (dollars in millions) Term and Accidental Death and Disability Protection Term and Accidental Death and Disability Protection Net liability for future policy benefits $ 212 $ 70 $ 223 $ 75 Deferred profit liability 14 53 16 58 Total net liability for future policy benefits $ 226 $ 123 $ 239 $ 133 The following table reconciles the net liability for future policy benefits to Insurance claims and policyholder liabilities in the condensed consolidated balance sheets: At or for the (dollars in millions) 2023 2022 Term and whole life $ 226 $ 239 Accidental death and disability protection 123 133 Other* 250 229 Total $ 599 $ 601 * Other primarily includes reserves for short-duration contracts that are payable to third-party beneficiaries. The undiscounted and discounted expected future gross premiums and expected future benefits and expenses for our long-duration insurance contracts were as follows: At or for the 2023 2022 (dollars in millions) Term and Accidental Death and Disability Protection Term and Accidental Death and Disability Protection Expected future gross premiums: Undiscounted $ 445 $ 150 $ 503 $ 167 Discounted 310 105 353 117 Expected future benefit payments: Undiscounted 622 171 683 185 Discounted 428 111 470 123 The revenue and interest accretion related to our long-duration insurance contracts recognized in the condensed consolidated statements of operations were as follows: At or for the 2023 2022 (dollars in millions) Term and Accidental Death and Disability Protection Term and Accidental Death and Disability Protection Gross premiums or assessments $ 44 $ 14 $ 47 $ 15 Interest accretion $ 9 $ 3 $ 9 $ 3 The weighted-average interest rates for the liability of future policy benefits for our long-duration insurance contracts were as follows: At or for the 2023 2022 Term and Accidental Death and Disability Protection Term and Accidental Death and Disability Protection Interest accretion rate 5.27 % 4.86 % 5.26 % 4.86 % Current discount rate 5.60 % 5.59 % 5.49 % 5.40 %
Fair Value Measurement Inputs and Valuation Techniques	The expected and actual experience for mortality, morbidity, and lapses of the liability for future policy benefits were as follows: At or for the 2023 2022 Term and Accidental Death and Disability Protection Term and Accidental Death and Disability Protection Mortality/Morbidity: Expected 0.38 % 0.01 % 0.39 % 0.01 % Actual 0.35 % 0.01 % 0.36 % 0.01 % Lapses: Expected 2.85 % 1.95 % 4.19 % 1.95 % Actual 2.27 % 2.07 % 2.11 % 3.09 %

Capital Stock and Earnings Pe_2

Capital Stock and Earnings Per Share (OMH Only) (Tables)	9 Months Ended
	Sep. 30, 2023
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, 2023 2022 2023 2022 Balance at beginning of period 120,446,799 123,726,559 121,042,125 127,809,640 Common stock issued 45,507 44,479 261,955 310,751 Common stock repurchased (268,269) (1,180,433) (1,120,903) (5,559,382) Treasury stock issued 21,260 28,143 62,120 57,739 Balance at end of period 120,245,297 122,618,748 120,245,297 122,618,748
Computation of earnings per share	The computation of earnings per share was as follows: Three Months Ended Nine Months Ended (dollars in millions, except per share data) 2023 2022 2023 2022 Numerator (basic and diluted): Net income $ 194 $ 185 $ 476 $ 696 Denominator: Weighted average number of shares outstanding (basic) 120,407,889 123,352,522 120,571,103 124,989,263 Effect of dilutive securities * 346,805 216,098 219,382 253,943 Weighted average number of shares outstanding (diluted) 120,754,694 123,568,620 120,790,485 125,243,206 Earnings per share: Basic $ 1.61 $ 1.50 $ 3.95 $ 5.56 Diluted $ 1.61 $ 1.49 $ 3.94 $ 5.55

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2023
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 Changes in discount rate for insurance claims and policyholder liabilities Other (b) Total Three Months Ended Balance at beginning of period $ (124) $ (8) $ (2) $ (3) $ 23 $ (114) Other comprehensive income (loss) before reclassifications (22) — (3) 7 3 (15) Balance at end of period $ (146) $ (8) $ (5) $ 4 $ 26 $ (129) Three Months Ended Balance at beginning of period $ (95) $ 1 $ 1 $ (13) $ 23 $ (83) Other comprehensive income (loss) before reclassifications (50) — (8) 14 3 (41) Balance at end of period $ (145) $ 1 $ (7) $ 1 $ 26 $ (124) Nine Months Ended Balance at beginning of period $ (131) $ (8) $ (5) $ (8) $ 25 $ (127) Other comprehensive income (loss) before reclassifications (15) — — 12 1 (2) Balance at end of period $ (146) $ (8) $ (5) $ 4 $ 26 $ (129) Nine Months Ended Balance at beginning of period $ 49 $ 1 $ 3 $ (56) $ 8 $ 5 Other comprehensive income (loss) before reclassifications (191) — (10) 57 18 (126) Reclassification adjustments from accumulated other comprehensive income (3) — — — — (3) Balance at end of period $ (145) $ 1 $ (7) $ 1 $ 26 $ (124) (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, 2023 and 2022. (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 condensed consolidated statements of operations were immaterial for the three and nine months ended September 30, 2023 and 2022.

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2023
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 condensed consolidated financial statement amounts. (dollars in millions) Consumer Other Segment to Consolidated Three Months Ended September 30, 2023 Interest income $ 1,166 $ 1 $ — $ 1,167 Interest expense 265 1 1 267 Provision for finance receivable losses 410 — — 410 Net interest income after provision for finance receivable losses 491 — (1) 490 Other revenues 182 3 — 185 Other expenses 423 7 (1) 429 Income (loss) before income tax expense (benefit) $ 250 $ (4) $ — $ 246 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 396 3 (1) 398 Income before income tax expense $ 247 $ 1 $ (2) $ 246 Nine Months Ended September 30, 2023 Interest income $ 3,373 $ 3 $ 1 $ 3,377 Interest expense 744 2 3 749 Provision for finance receivable losses 1,275 — — 1,275 Net interest income after provision for finance receivable losses 1,354 1 (2) 1,353 Other revenues 543 5 — 548 Other expenses 1,273 11 (2) 1,282 Income (loss) before income tax expense (benefit) $ 624 $ (5) $ — $ 619 Assets $ 22,899 $ 30 $ 1,217 $ 24,146 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 1,182 11 (2) 1,191 Income before income tax expense $ 925 $ 1 $ (3) $ 923 Assets $ 20,281 $ 40 $ 2,020 $ 22,341

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2023
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, 2023 Assets Cash and cash equivalents $ 1,180 $ 10 $ — $ 1,190 $ 1,190 Investment securities 50 1,581 4 1,635 1,635 Net finance receivables, less allowance for finance receivable losses — — 20,384 20,384 18,618 Restricted cash and restricted cash equivalents 580 — — 580 580 Other assets * — — 38 38 29 Liabilities Long-term debt $ — $ 18,755 $ — $ 18,755 $ 19,851 December 31, 2022 Assets Cash and cash equivalents $ 481 $ 17 $ — $ 498 $ 498 Investment securities 51 1,744 5 1,800 1,800 Net finance receivables, less allowance for finance receivable losses — — 19,272 19,272 17,675 Restricted cash and restricted cash equivalents 450 11 — 461 461 Other assets * — — 43 43 35 Liabilities Long-term debt $ — $ 16,969 $ — $ 16,969 $ 18,281
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, 2023 Assets Cash equivalents in mutual funds $ 113 $ — $ — $ 113 Cash equivalents in securities — 10 — 10 Investment securities: Available-for-sale securities U.S. government and government sponsored entities — 14 — 14 Obligations of states, municipalities, and political subdivisions — 64 — 64 Commercial paper — 23 — 23 Non-U.S. government and government sponsored entities — 153 — 153 Corporate debt 6 1,017 2 1,025 RMBS — 172 — 172 CMBS — 33 — 33 CDO/ABS — 83 — 83 Total available-for-sale securities 6 1,559 2 1,567 Other securities Bonds: Corporate debt — 5 — 5 CDO/ABS — 17 — 17 Total bonds — 22 — 22 Preferred stock 15 — — 15 Common stock 29 — 2 31 Total other securities 44 22 2 68 Total investment securities 50 1,581 4 1,635 Restricted cash equivalents in mutual funds 566 — — 566 Total $ 729 $ 1,591 $ 4 $ 2,324 Fair Value Measurements Using Total Carried At Fair Value (dollars in millions) Level 1 Level 2 Level 3 December 31, 2022 Assets Cash equivalents in mutual funds $ 77 $ — $ — $ 77 Cash equivalents in securities — 17 — 17 Investment securities: Available-for-sale securities U.S. government and government sponsored entities — 16 — 16 Obligations of states, municipalities, and political subdivisions — 66 — 66 Commercial paper — 55 — 55 Non-U.S. government and government sponsored entities — 142 — 142 Corporate debt 5 1,129 3 1,137 RMBS — 192 — 192 CMBS — 35 — 35 CDO/ABS — 86 — 86 Total available-for-sale securities 5 1,721 3 1,729 Other securities Bonds: Corporate debt — 6 — 6 RMBS — 1 — 1 CDO/ABS — 16 — 16 Total bonds — 23 — 23 Preferred stock 15 — — 15 Common stock 31 — 2 33 Total other securities 46 23 2 71 Total investment securities 51 1,744 5 1,800 Restricted cash equivalents in mutual funds 445 — — 445 Restricted cash equivalents in securities — 11 — 11 Total $ 573 $ 1,772 $ 5 $ 2,350

Recent Accounting Pronounceme_3

Recent Accounting Pronouncements - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($) payment	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for finance receivable	$ (2,449)	$ (2,392)	$ (2,311)	$ (2,255)	$ (2,127)	$ (2,095)
Retained earnings	$ 2,240		2,119	$ 2,061
Number of payments past due before which a loan is charged off to the allowance for finance receivable losses | payment	7
Number of payments past due before which a loan is charged off to the allowance for finance receivable losses, period	180 days
Number of payments past due before repossession | payment	2
Number of payments past due before repossession, period	30 days
Cumulative Effect, Period Of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for finance receivable			16
Deferred tax asset			4
Retained earnings			$ 12

Recent Accounting Pronounceme_4

Recent Accounting Pronouncements - Effects of Adoption To Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other assets	$ 1,198	$ 1,154		$ 1,019	$ 1,075
Insurance claims and policyholder liabilities	599	620	$ 601	693	718
Accumulated other comprehensive loss	(129)	(127)	(124)	5	18
Retained earnings	2,240	2,119	2,061
OMFC
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other assets	1,196	1,152		1,017
Insurance claims and policyholder liabilities	599	620
Accumulated other comprehensive loss	(129)	(127)
Retained earnings	$ 1,278	1,193	1,174
Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other assets		1,150		1,003	1,054
Insurance claims and policyholder liabilities		602	600	621	621
Accumulated other comprehensive loss		(119)	(125)	61	94
Retained earnings		2,125	2,063
Previously Reported | OMFC
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other assets		1,148		1,001
Retained earnings		1,199	1,176
Revision of Prior Period, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other assets		4		16	21
Insurance claims and policyholder liabilities		18	1	72	97
Accumulated other comprehensive loss		(8)	1	(56)	$ (76)
Retained earnings		(6)	(2)
Revision of Prior Period, Adjustment | OMFC
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other assets		4		$ 16
Retained earnings		$ (6)	$ (2)

Recent Accounting Pronounceme_5

Recent Accounting Pronouncements - Effects of Adoption To Condensed Consolidated Statements of Operations (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Insurance policy benefits and claims	$ 48	$ 35	$ 139	$ 119
Income before income taxes	246	246	619	923
Income taxes	52	61	143	227
Net income	$ 194	$ 185	$ 476	$ 696
Basic EPS (OMH only) (in dollars per share)	$ 1.61	$ 1.50	$ 3.95	$ 5.56
Diluted EPS (OMH only) (in dollars per share)	$ 1.61	$ 1.49	$ 3.94	$ 5.55
OMFC
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Insurance policy benefits and claims	$ 48	$ 35	$ 139	$ 119
Income before income taxes	246	246	619	923
Income taxes	52	61	143	227
Net income	$ 194	185	$ 476	696
Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Insurance policy benefits and claims		31		116
Income before income taxes		250		926
Income taxes		62		228
Net income		$ 188		$ 698
Basic EPS (OMH only) (in dollars per share)		$ 1.52		$ 5.58
Diluted EPS (OMH only) (in dollars per share)		$ 1.52		$ 5.57
Revision of Prior Period, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Insurance policy benefits and claims		$ 4		$ 3
Income before income taxes		(4)		(3)
Income taxes		(1)		(1)
Net income		$ (3)		$ (2)
Basic EPS (OMH only) (in dollars per share)		$ (0.02)		$ (0.02)
Diluted EPS (OMH only) (in dollars per share)		$ (0.03)		$ (0.02)

Recent Accounting Pronounceme_6

Recent Accounting Pronouncements - Effects of Adoption To Condensed Consolidated Statements of Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Comprehensive income	$ 179	$ 144	$ 474	$ 567
Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Comprehensive income		133		512
Revision of Prior Period, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Comprehensive income		$ 11		$ 55

Recent Accounting Pronounceme_7

Recent Accounting Pronouncements - Effect of Adoption To Condensed Consolidated Statements of Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net income	$ 194	$ 185	$ 476	$ 696
Deferred income tax benefit			(30)	(45)
Cash flows due to changes in other assets and other liabilities			$ (54)	(121)
Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net income		188		698
Deferred income tax benefit				(44)
Cash flows due to changes in other assets and other liabilities				(124)
Revision of Prior Period, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net income		$ (3)		(2)
Deferred income tax benefit				(1)
Cash flows due to changes in other assets and other liabilities				$ 3

Finance Receivables - Additiona

Finance Receivables - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Whole loan sale flow agreement, quarterly loans sold	$ 135,000,000		$ 135,000,000
Proceeds from sale of gross finance receivables	135,000,000	$ 180,000,000	450,000,000	$ 540,000,000
Gain on sale of financing receivables	11,000,000	17,000,000	42,000,000	50,000,000
Unused credit card lines	$ 204,000,000		$ 204,000,000		$ 81,000,000
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 and fees	$ 36,000,000	34,000,000	$ 105,000,000	88,000,000
Interest income	$ 4,000,000	4,000,000	$ 14,000,000	12,000,000
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 and fees	$ 3,000,000	$ 0	$ 8,000,000	$ 0

Finance Receivables - Net Finan

Finance Receivables - Net Finance Receivables by Type (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	$ 20,790	$ 19,722
Unearned fees	(233)	(220)
Accrued finance charges and fees	303	299
Deferred origination costs	207	185
Financing Receivable, Total	21,067	19,986
Personal Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	20,564	19,615
Unearned fees	(233)	(220)
Accrued finance charges and fees	303	299
Deferred origination costs	201	185
Financing Receivable, Total	20,835	19,879
Credit Cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	226	107
Unearned fees	0	0
Accrued finance charges and fees	0	0
Deferred origination costs	6	0
Financing Receivable, Total	$ 232	$ 107

Finance Receivables - Delinquen

Finance Receivables - Delinquent and Nonperforming Finance Receivables, by Year of Origination (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Financing Receivable By Year Originated
Financing Receivable, Total	$ 21,067		$ 21,067		$ 19,986
Gross charge-offs
Financing Receivable, Gross Charge-Offs	416	$ 352	1,321	$ 1,032
Personal Loans
Financing Receivable By Year Originated
Year One	8,557		8,557		11,002
Prior Year Two	7,220		7,220		5,410
Prior Year Three	3,274		3,274		1,907
Prior Year Four	1,057		1,057		1,172
Prior Year Five	558		558		268
Prior Year Six	169		169		120
Financing Receivable, Total	20,835		20,835		19,879
Gross charge-offs
Year One			13
Prior Year Two			527
Prior Year Three			501
Prior Year Four			147
Prior Year Five			81
Prior Year Six			33
Financing Receivable, Gross Charge-Offs	410	$ 349	1,302	$ 1,029
Performing | Personal Loans
Financing Receivable By Year Originated
Year One	8,504		8,504		10,842
Prior Year Two	6,964		6,964		5,164
Prior Year Three	3,123		3,123		1,833
Prior Year Four	1,015		1,015		1,128
Prior Year Five	534		534		255
Prior Year Six	160		160		113
Financing Receivable, Total	20,300		20,300		19,335
Performing | Current | Personal Loans
Financing Receivable By Year Originated
Year One	8,394		8,394		10,614
Prior Year Two	6,692		6,692		4,927
Prior Year Three	2,967		2,967		1,758
Prior Year Four	970		970		1,081
Prior Year Five	507		507		240
Prior Year Six	149		149		105
Financing Receivable, Total	19,679		19,679		18,725
Performing | 30-59 days past due | Personal Loans
Financing Receivable By Year Originated
Year One	69		69		136
Prior Year Two	159		159		136
Prior Year Three	92		92		43
Prior Year Four	27		27		28
Prior Year Five	17		17		9
Prior Year Six	7		7		5
Financing Receivable, Total	371		371		357
Performing | 60-89 days past due | Personal Loans
Financing Receivable By Year Originated
Year One	41		41		92
Prior Year Two	113		113		101
Prior Year Three	64		64		32
Prior Year Four	18		18		19
Prior Year Five	10		10		6
Prior Year Six	4		4		3
Financing Receivable, Total	250		250		253
Nonperforming (Nonaccrual) | 90+ days past due | Personal Loans
Financing Receivable By Year Originated
Year One	53		53		160
Prior Year Two	256		256		246
Prior Year Three	151		151		74
Prior Year Four	42		42		44
Prior Year Five	24		24		13
Prior Year Six	9		9		7
Financing Receivable, Total	$ 535		$ 535		$ 544

Finance Receivables - Summary o

Finance Receivables - Summary of Credit Cards by Number of Days Delinquent (Details) - Credit Cards - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Delinquency by finance receivables type
Financing receivable	$ 232	$ 107
Current
Delinquency by finance receivables type
Financing receivable	211	93
30-59 days past due
Delinquency by finance receivables type
Financing receivable	6	3
60-89 days past due
Delinquency by finance receivables type
Financing receivable	5	3
90+ days past due
Delinquency by finance receivables type
Financing receivable	$ 10	$ 8

Finance Receivables - Modified

Finance Receivables - Modified Financing Receivables To Borrowers Experiencing Financial Difficulty (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Financing Receivable, Modified [Line Items]
Modifications as a percent of net finance receivables - personal loans	1.17%	3.06%
Personal Loans
Financing Receivable, Modified [Line Items]
Modifications to borrowers experiencing financial difficulties	$ 244	$ 638
Personal Loans | Interest rate reduction and term extension
Financing Receivable, Modified [Line Items]
Modifications to borrowers experiencing financial difficulties	143	378
Personal Loans | Interest rate reduction and principal forgiveness
Financing Receivable, Modified [Line Items]
Modifications to borrowers experiencing financial difficulties	$ 101	$ 260

Finance Receivables - Modifie_2

Finance Receivables - Modified Financing Receivables Financial Effects (Details) - Personal Loans - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Financing Receivable, Modified [Line Items]
Weighted-average interest rate reduction	19.15%	20.01%
Weighted-average term extension (months)	27 months	24 months
Principal/interest forgiveness	$ 12	$ 32

Finance Receivables - Modifie_3

Finance Receivables - Modified Financing Receivables Days Delinquent (Details) - Personal Loans $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($)
Financing Receivable, Modified [Line Items]
Modified financing receivables	$ 638
Finance receivables subsequently charged off	33
Current
Financing Receivable, Modified [Line Items]
Modified financing receivables	465
30-59 days past due
Financing Receivable, Modified [Line Items]
Modified financing receivables	54
60-89 days past due
Financing Receivable, Modified [Line Items]
Modified financing receivables	42
90+ days past due
Financing Receivable, Modified [Line Items]
Modified financing receivables	$ 77

Finance Receivables - Modifie_4

Finance Receivables - Modified Finance Receivables, Nonperforming (Details) - Personal Loans - Nonperforming (Nonaccrual) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Financing Receivable, Modified [Line Items]
Modified finance receivables	$ 45	$ 59
Interest rate reduction and term extension
Financing Receivable, Modified [Line Items]
Modified finance receivables	35	47
Interest rate reduction and principal forgiveness
Financing Receivable, Modified [Line Items]
Modified finance receivables	$ 10	$ 12

Finance Receivables - TDR Finan

Finance Receivables - TDR Finance Receivables (Details) - Personal Loans $ in Millions	Dec. 31, 2022 USD ($)
Financing Receivable, Modified [Line Items]
TDR gross finance receivables	$ 898
TDR net finance receivables	904
Allowance for TDR finance receivable losses	$ 369

Finance Receivables - New Volum

Finance Receivables - New Volume of TDR HFI & HFS Finance Receivables (Details) - Personal Loans $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2022 USD ($) account	Sep. 30, 2022 USD ($) account
Financing Receivable, Modified [Line Items]
Pre-modification TDR net finance receivables	$ 245	$ 521
Total post-modification TDR net finance receivables	$ 245	$ 521
Number of TDR accounts | account	29,448	63,129
Rate reduction
Financing Receivable, Modified [Line Items]
Total post-modification TDR net finance receivables	$ 172	$ 342
Other
Financing Receivable, Modified [Line Items]
Total post-modification TDR net finance receivables	$ 73	$ 179

Finance Receivables - Modifie_5

Finance Receivables - Modified as TDR - Non Performing Finance Receivables (Details) - Personal Loans $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2022 USD ($) account	Sep. 30, 2022 USD ($) account
Delinquency by finance receivables type
TDR net finance receivables | $	$ 34	$ 94
Number of TDR accounts | account	4,348	11,906

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, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Changes in allowance for finance receivable losses
Balance at beginning of period	$ 2,392	$ 2,127	$ 2,311	$ 2,095
Provision for finance receivable losses	410	421	1,275	998
Charge-offs	(416)	(352)	(1,321)	(1,032)
Recoveries	63	59	200	194
Balance at end of period	2,449	2,255	2,449	2,255
Cumulative Effect, Period Of Adoption, Adjustment
Changes in allowance for finance receivable losses
Balance at beginning of period			(16)
Personal Loans
Changes in allowance for finance receivable losses
Balance at beginning of period	2,360	2,115	2,290	2,090
Provision for finance receivable losses	386	415	1,227	985
Charge-offs	(410)	(349)	(1,302)	(1,029)
Recoveries	63	59	200	194
Balance at end of period	2,399	2,240	2,399	2,240
Personal Loans | Cumulative Effect, Period Of Adoption, Adjustment
Changes in allowance for finance receivable losses
Balance at beginning of period			(16)
Credit Cards
Changes in allowance for finance receivable losses
Balance at beginning of period	32	12	21	5
Provision for finance receivable losses	24	6	48	13
Charge-offs	(6)	(3)	(19)	(3)
Recoveries	0	0	0	0
Balance at end of period	$ 50	$ 15	50	$ 15
Credit Cards | Cumulative Effect, Period Of Adoption, Adjustment
Changes in allowance for finance receivable losses
Balance at beginning of period			$ 0

Investment Securities - Cost_Am

Investment Securities - Cost/Amortized, Unrealized Gains/Losses & FV on AFS Investment Securities (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	$ 1,752	$ 1,897
Unrealized Gains	2	1
Unrealized Losses	(187)	(169)
Fair Value	1,567	1,729
U.S. government and government sponsored entities
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	15	17
Unrealized Gains	0	0
Unrealized Losses	(1)	(1)
Fair Value	14	16
Obligations of states, municipalities, and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	72	74
Unrealized Gains	0	0
Unrealized Losses	(8)	(8)
Fair Value	64	66
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	23	55
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	23	55
Non-U.S. government and government sponsored entities
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	163	150
Unrealized Gains	0	0
Unrealized Losses	(10)	(8)
Fair Value	153	142
Corporate debt
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	1,149	1,251
Unrealized Gains	2	1
Unrealized Losses	(126)	(115)
Fair Value	1,025	1,137
RMBS
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	203	217
Unrealized Gains	0	0
Unrealized Losses	(31)	(25)
Fair Value	172	192
CMBS
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	37	38
Unrealized Gains	0	0
Unrealized Losses	(4)	(3)
Fair Value	33	35
CDO/ABS
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	90	95
Unrealized Gains	0	0
Unrealized Losses	(7)	(9)
Fair Value	$ 83	$ 86

Investment Securities - Additio

Investment Securities - Additional Information (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($) investment	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) investment	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($) investment
Investments, Debt and Equity Securities [Abstract]
Interest receivable	$ 14,000,000		$ 14,000,000		$ 14,000,000
Investment securities in an unrealized loss position | investment	2,192		2,192		2,280
Proceeds from sales and redemptions	$ 27,000,000	$ 34,000,000	$ 74,000,000	$ 235,000,000
Securities on deposit with third parties	488,000,000		488,000,000		$ 532,000,000
Net unrealized losses on other securities held	$ 0	$ 0	$ 0	$ 12,000,000

Investment Securities - Fair Va

Investment Securities - Fair Value and Unrealized Losses on AFS Investment Securities (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Fair Value
Less Than 12 Months	$ 191	$ 1,164
12 Months or Longer	1,306	468
Total	1,497	1,632
Unrealized Losses
Less Than 12 Months	(6)	(76)
12 Months or Longer	(181)	(93)
Total	(187)	(169)
U.S. government and government sponsored entities
Fair Value
Less Than 12 Months	1	10
12 Months or Longer	11	6
Total	12	16
Unrealized Losses
Less Than 12 Months	0	0
12 Months or Longer	(1)	(1)
Total	(1)	(1)
Obligations of states, municipalities, and political subdivisions
Fair Value
Less Than 12 Months	2	48
12 Months or Longer	59	15
Total	61	63
Unrealized Losses
Less Than 12 Months	0	(5)
12 Months or Longer	(8)	(3)
Total	(8)	(8)
Commercial paper
Fair Value
Less Than 12 Months	23	51
12 Months or Longer	0	0
Total	23	51
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	29	104
12 Months or Longer	99	32
Total	128	136
Unrealized Losses
Less Than 12 Months	(1)	(3)
12 Months or Longer	(9)	(5)
Total	(10)	(8)
Corporate debt
Fair Value
Less Than 12 Months	102	779
12 Months or Longer	895	299
Total	997	1,078
Unrealized Losses
Less Than 12 Months	(4)	(54)
12 Months or Longer	(122)	(61)
Total	(126)	(115)
RMBS
Fair Value
Less Than 12 Months	22	106
12 Months or Longer	148	68
Total	170	174
Unrealized Losses
Less Than 12 Months	(1)	(9)
12 Months or Longer	(30)	(16)
Total	(31)	(25)
CMBS
Fair Value
Less Than 12 Months	2	21
12 Months or Longer	31	13
Total	33	34
Unrealized Losses
Less Than 12 Months	0	(2)
12 Months or Longer	(4)	(1)
Total	(4)	(3)
CDO/ABS
Fair Value
Less Than 12 Months	10	45
12 Months or Longer	63	35
Total	73	80
Unrealized Losses
Less Than 12 Months	0	(3)
12 Months or Longer	(7)	(6)
Total	$ (7)	$ (9)

Investment Securities - Contrac

Investment Securities - Contractual Maturities of AFS Investment Securities (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Fixed maturities, excluding mortgage-backed, asset-backed, and collateralized securities:
Due in 1 year or less	$ 151
Due after 1 year through 5 years	534
Due after 5 years through 10 years	478
Due after 10 years	116
Mortgage-backed, asset-backed, and collateralized securities	288
Fair Value	1,567	$ 1,729
Fixed maturities, excluding mortgage-backed, asset-backed, and collateralized securities:
Due in 1 year or less	153
Due after 1 year through 5 years	568
Due after 5 years through 10 years	557
Due after 10 years	144
Mortgage-backed, asset-backed, and collateralized securities	330
Cost/ Amortized Cost	$ 1,752	$ 1,897

Investment Securities - Fair _2

Investment Securities - Fair Value of Other Securities (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Debt and Equity Securities, FV-NI [Line Items]
Bonds	$ 22	$ 23
Total	68	71
Preferred stock
Debt and Equity Securities, FV-NI [Line Items]
Equity securities	15	15
Common stock
Debt and Equity Securities, FV-NI [Line Items]
Equity securities	$ 31	$ 33

Long-term Debt - Principal Matu

Long-term Debt - Principal Maturities of Long-Term Debt (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Principal maturities of long-term debt by type of debt
Remainder of 2023	$ 226
2024	558
2025	1,249
2026	1,600
2027	750
2028-2067	3,782
Secured	11,966
Total principal maturities	20,131
Long-term debt	19,851	$ 18,281
Debt issuance costs	(102)
Securitizations
Principal maturities of long-term debt by type of debt
Remainder of 2023	0
2024	0
2025	0
2026	0
2027	0
2028-2067	0
Secured	11,616
Total principal maturities	11,616
Long-term debt	11,567
Debt issuance costs	$ (47)
Securitizations | Minimum
Long-term debt
Interest rate	0.87%
Securitizations | Maximum
Long-term debt
Interest rate	7.52%
Private Secured Term Funding
Principal maturities of long-term debt by type of debt
Remainder of 2023	$ 0
2024	0
2025	0
2026	0
2027	0
2028-2067	0
Secured	350
Total principal maturities	350
Long-term debt	350
Debt issuance costs	$ 0
Private Secured Term Funding | Minimum
Long-term debt
Interest rate	6.41%
Unsecured Notes | Unsecured Notes
Principal maturities of long-term debt by type of debt
Remainder of 2023	$ 226
2024	558
2025	1,249
2026	1,600
2027	750
2028-2067	3,432
Total principal maturities	7,815
Long-term debt	7,762
Debt issuance costs	$ (55)
Unsecured Notes | Unsecured Notes | Minimum
Long-term debt
Interest rate	3.50%
Unsecured Notes | Unsecured Notes | Maximum
Long-term debt
Interest rate	9%
Unsecured Notes | Revolving Conduit Facilities
Principal maturities of long-term debt by type of debt
Debt issuance costs	$ 32
Junior Subordinated Debt
Long-term debt
Interest rate	7.32%
Principal maturities of long-term debt by type of debt
Remainder of 2023	$ 0
2024	0
2025	0
2026	0
2027	0
2028-2067	350
Total principal maturities	350
Long-term debt	172
Debt issuance costs	$ 0

Long-term Debt- Narrative (Deta

Long-term Debt- Narrative (Details) - Revolver - OMFC - USD ($)	Oct. 25, 2021	Sep. 30, 2023
Debt Instrument [Line Items]
Total borrowing capacity		$ 1,250,000,000
Debt instrument, term	5 years
Outstanding balance		$ 0

Variable Interest Entities - Ca

Variable Interest Entities - Carrying Amount of Consolidated VIEs (Details) - USD ($) $ in Millions	Sep. 30, 2023		Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2022		Jun. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Variable Interest Entity [Line Items]
Cash and cash equivalents	$ 1,190			$ 498	$ 536
Net finance receivables	21,067			19,986
Allowance for finance receivable losses	2,449		$ 2,392	2,311	2,255		$ 2,127	$ 2,095
Restricted cash and restricted cash equivalents	580	[1]		461	$ 483	[1]
Other assets	1,198			1,154				$ 1,019	$ 1,075
Long-term debt	19,851			18,281
Consolidated VIEs
Variable Interest Entity [Line Items]
Cash and cash equivalents	2			2
Net finance receivables	13,229			10,432
Allowance for finance receivable losses	1,480			1,126
Restricted cash and restricted cash equivalents	564			442
Other assets	30			28
Long-term debt	11,917			9,361
Other liabilities	$ 27			$ 20
[1]Restricted cash and restricted cash equivalents primarily represent funds required to be used for future debt payments relating to our secured transactions.

Variable Interest Entities - Co

Variable Interest Entities - Consolidated VIEs (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Variable Interest Entity [Line Items]
Interest expense	$ 267	$ 223	$ 749	$ 661
Consolidated VIEs
Variable Interest Entity [Line Items]
Interest expense	$ 128	$ 81	$ 343	$ 214

Variable Interest Entities - Se

Variable Interest Entities - Securitized Borrowings (Details)	9 Months Ended
	Sep. 30, 2023
Minimum
Debt Instrument [Line Items]
Debt instrument, term	2 years
Maximum
Debt Instrument [Line Items]
Debt instrument, term	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, 2023 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 - Revolving Conduit Facilities	9 Months Ended
	Sep. 30, 2023 USD ($) facility
Line of Credit Facility [Line Items]
Number of conduit facilities | facility	15
Total borrowing capacity	$ 6,200,000,000
Debt instrument, term	9 years
Outstanding balance	$ 0

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, 2023	Sep. 30, 2022	Dec. 31, 2022	Dec. 31, 2021
Liability for unpaid claims and claims adjustment expense
Balance at beginning of period	$ 93	$ 102
Less reinsurance recoverables	(3)	(3)	$ (3)	$ (3)
Net balance at beginning of period	90	99
Additions for losses and loss adjustment expenses incurred to:
Current year	127	114
Prior years	(2)	(13)
Total	125	101
Reductions for losses and loss adjustment expenses paid related to:
Current year	(67)	(59)
Prior years	(49)	(50)
Total	(116)	(109)
Foreign currency translation adjustment	0	1
Net balance at end of period	99	92
Plus reinsurance recoverables	3	3	$ 3	$ 3
Balance at end of period	$ 102	95
Revision of Prior Period, Adjustment
Liability for unpaid claims and claims adjustment expense
Balance at beginning of period		$ (16)

Insurance - Present Value of Ex

Insurance - Present Value of Expected Net Premium And Future Policy Benefits (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Dec. 31, 2021
Term and Whole Life
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Balance at beginning of period	$ 252	$ 313
Effect of changes in discount rate assumptions	(3)	(1)	$ 8	$ 53
Beginning balance at original discount rate	244	260
Effect of changes in cash flow assumptions			(2)	0
Effect of actual variances from expected experience			(7)	15
Adjusted balance at beginning of period			235	275
Interest accretion	9	10
Net premiums collected	(25)	(37)
Ending balance at original discount rate	219	248
Balance at ending of period	216	247
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance at beginning of period	483	601
Effect of changes in discount rate assumptions	4	0	(17)	(109)
Beginning balance at original discount rate	466	492
Effect of changes in cash flow assumptions			(4)	0
Effect of actual variances from expected experience			(9)	2
Adjusted balance at beginning of period			453	494
Net issuances	2	2
Interest accretion	18	19
Benefit payments	(41)	(45)
Ending balance at original discount rate	432	470
Balance at ending of period	428	470
Accidental Death and Disability Protection
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Balance at beginning of period	48	69
Effect of changes in discount rate assumptions	(2)	(1)	0	10
Beginning balance at original discount rate	48	59
Effect of changes in cash flow assumptions			(1)	0
Effect of actual variances from expected experience			(1)	(3)
Adjusted balance at beginning of period			46	56
Interest accretion	2	2
Net premiums collected	(5)	(9)
Ending balance at original discount rate	43	49
Balance at ending of period	41	48
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance at beginning of period	126	165
Effect of changes in discount rate assumptions	5	3	(1)	(27)
Beginning balance at original discount rate	125	138
Effect of changes in cash flow assumptions			(1)	0
Effect of actual variances from expected experience			1	(7)
Adjusted balance at beginning of period			$ 125	$ 131
Net issuances	1	0
Interest accretion	4	5
Benefit payments	(14)	(10)
Ending balance at original discount rate	116	126
Balance at ending of period	$ 111	$ 123

Insurance - Net Liability for F

Insurance - Net Liability for Future Policy Benefits (Details) - USD ($) $ in Millions	Sep. 30, 2023	Sep. 30, 2022
Term and Whole Life
Liability for Future Policy Benefit, Activity [Line Items]
Net liability for future policy benefits	$ 212	$ 223
Deferred profit liability	14	16
Total net liability for future policy benefits	226	239
Accidental Death and Disability Protection
Liability for Future Policy Benefit, Activity [Line Items]
Net liability for future policy benefits	70	75
Deferred profit liability	53	58
Total net liability for future policy benefits	$ 123	$ 133

Insurance - Additional Informat

Insurance - Additional Information (Details)	Sep. 30, 2023	Sep. 30, 2022
Insurance [Abstract]
Weighted-average duration of the liability for future policy benefits	8 years	8 years

Insurance - Reconciliation of N

Insurance - Reconciliation of Net Liability for Future Policy Benefits To the Consolidated Statements of Financial Position (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Liability for Future Policy Benefit, Activity [Line Items]
Insurance claims and policyholder liabilities	$ 599	$ 620	$ 601	$ 693	$ 718
Term and Whole Life
Liability for Future Policy Benefit, Activity [Line Items]
Total net liability for future policy benefits	226		239
Accidental Death and Disability Protection
Liability for Future Policy Benefit, Activity [Line Items]
Total net liability for future policy benefits	123		133
Other
Liability for Future Policy Benefit, Activity [Line Items]
Other	$ 250		$ 229

Insurance - Undiscounted and Di

Insurance - Undiscounted and Discounted Expected Gross Premiums And Expected Future Benefits (Details) - USD ($) $ in Millions	Sep. 30, 2023	Sep. 30, 2022
Term and Whole Life
Expected future gross premiums:
Undiscounted	$ 445	$ 503
Discounted	310	353
Expected future benefit payments:
Undiscounted	622	683
Discounted	428	470
Accidental Death and Disability Protection
Expected future gross premiums:
Undiscounted	150	167
Discounted	105	117
Expected future benefit payments:
Undiscounted	171	185
Discounted	$ 111	$ 123

Insurance - Consolidated Statem

Insurance - Consolidated Statements of Operations (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Term and Whole Life
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums or assessments	$ 44	$ 47
Interest accretion	9	9
Accidental Death and Disability Protection
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums or assessments	14	15
Interest accretion	$ 3	$ 3

Insurance - Actuarial Assumptio

Insurance - Actuarial Assumptions (Details)	Sep. 30, 2023	Sep. 30, 2022
Measurement Input, Mortality Rate, Expected | Term and Whole Life
Market Risk Benefit [Line Items]
Market risk benefit, measurement input	0.0038	0.0039
Measurement Input, Mortality Rate, Expected | Accidental Death and Disability Protection
Market Risk Benefit [Line Items]
Market risk benefit, measurement input	0.0001	0.0001
Measurement Input, Mortality Rate, Actual | Term and Whole Life
Market Risk Benefit [Line Items]
Market risk benefit, measurement input	0.0035	0.0036
Measurement Input, Mortality Rate, Actual | Accidental Death and Disability Protection
Market Risk Benefit [Line Items]
Market risk benefit, measurement input	0.0001	0.0001
Measurement Input, Lapses, Expected | Term and Whole Life
Market Risk Benefit [Line Items]
Market risk benefit, measurement input	0.0285	0.0419
Measurement Input, Lapses, Expected | Accidental Death and Disability Protection
Market Risk Benefit [Line Items]
Market risk benefit, measurement input	0.0195	0.0195
Measurement Input, Lapses, Actual | Term and Whole Life
Market Risk Benefit [Line Items]
Market risk benefit, measurement input	0.0227	0.0211
Measurement Input, Lapses, Actual | Accidental Death and Disability Protection
Market Risk Benefit [Line Items]
Market risk benefit, measurement input	0.0207	0.0309

Insurance - Weighted-Average In

Insurance - Weighted-Average Interest Rates for the Liability of Future Policy Benefits (Details)	Sep. 30, 2023	Sep. 30, 2022
Term and Whole Life
Additional Liability, Long-Duration Insurance [Line Items]
Interest accretion rate	5.27%	5.26%
Current discount rate	5.60%	5.49%
Accidental Death and Disability Protection
Additional Liability, Long-Duration Insurance [Line Items]
Interest accretion rate	4.86%	4.86%
Current discount rate	5.59%	5.40%

Capital Stock and Earnings Pe_3

Capital Stock and Earnings Per Share (OMH Only) - Additional Information (Details)	9 Months Ended
	Sep. 30, 2023 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, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	120,446,799	123,726,559	121,042,125	127,809,640
Common stock issued (in shares)	45,507	44,479	261,955	310,751
Common stock repurchased (in shares)	(268,269)	(1,180,433)	(1,120,903)	(5,559,382)
Treasury stock issued (in shares)	21,260	28,143	62,120	57,739
Ending balance (in shares)	120,245,297	122,618,748	120,245,297	122,618,748

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, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Numerator (basic and diluted):
Net income	$ 194	$ 185	$ 476	$ 696
Denominator:
Weighted average number of shares outstanding (basic) (in shares)	120,407,889	123,352,522	120,571,103	124,989,263
Effect of dilutive securities (in shares)	346,805	216,098	219,382	253,943
Weighted average number of shares outstanding (diluted) (in shares)	120,754,694	123,568,620	120,790,485	125,243,206
Earnings per share:
Basic (in dollars per share)	$ 1.61	$ 1.50	$ 3.95	$ 5.56
Diluted (in dollars per share)	$ 1.61	$ 1.49	$ 3.94	$ 5.55
Restricted stock units
Earnings per share:
Shares excluded in the diluted earnings per share calculation (in shares)	886,333	1,278,052	933,663	1,230,739

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	$ 3,058	$ 3,021	$ 3,015	$ 3,037
Other comprehensive income (loss) before reclassifications	(15)	(41)	(2)	(126)
Reclassification adjustments from accumulated other comprehensive income				(3)
Balance at end of period	3,109	3,011	3,109	3,011
Unrealized Gains (Losses) Available-for-Sale Securities
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	(124)	(95)	(131)	49
Other comprehensive income (loss) before reclassifications	(22)	(50)	(15)	(191)
Reclassification adjustments from accumulated other comprehensive income				(3)
Balance at end of period	(146)	(145)	(146)	(145)
Retirement Plan Liabilities Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	(8)	1	(8)	1
Other comprehensive income (loss) before reclassifications	0	0	0	0
Reclassification adjustments from accumulated other comprehensive income				0
Balance at end of period	(8)	1	(8)	1
Foreign Currency Translation Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	(2)	1	(5)	3
Other comprehensive income (loss) before reclassifications	(3)	(8)	0	(10)
Reclassification adjustments from accumulated other comprehensive income				0
Balance at end of period	(5)	(7)	(5)	(7)
Changes in discount rate for insurance claims and policyholder liabilities
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	(3)	(13)	(8)	(56)
Other comprehensive income (loss) before reclassifications	7	14	12	57
Reclassification adjustments from accumulated other comprehensive income				0
Balance at end of period	4	1	4	1
Other
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	23	23	25	8
Other comprehensive income (loss) before reclassifications	3	3	1	18
Reclassification adjustments from accumulated other comprehensive income				0
Balance at end of period	26	26	26	26
Accumulated Other Comprehensive Income (Loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	(114)	(83)	(127)	5
Balance at end of period	$ (129)	$ (124)	$ (129)	$ (124)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Net deferred tax asset	$ 482		$ 456
Effective tax rate	23.10%	24.60%
Unrecognized tax benefits	$ 7		$ 6

Contingencies (Details)

Contingencies (Details) $ in Millions	May 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Payments for interest refunds	$ 10
Payment of civil penalty	$ 10

Segment Information - Narrative

Segment Information - Narrative (Details)	9 Months Ended
	Sep. 30, 2023 Reporting_Segment
Segment Reporting [Abstract]
Number of reportable segments	1

Segment Information - Schedule

Segment Information - Schedule of Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Segment Reporting Information [Line Items]
Interest income	$ 1,167	$ 1,118	$ 3,377	$ 3,313
Interest expense	267	223	749	661
Provision for finance receivable losses	410	421	1,275	998
Net interest income after provision for finance receivable losses	490	474	1,353	1,654
Total other revenues	185	170	548	460
Total other expenses	429	398	1,282	1,191
Income before income taxes	246	246	619	923
Total assets	24,146	22,341	24,146	22,341	$ 22,537
Consumer and Insurance | Consumer and Insurance
Segment Reporting Information [Line Items]
Interest income	1,166	1,116	3,373	3,308
Interest expense	265	221	744	657
Provision for finance receivable losses	410	420	1,275	995
Net interest income after provision for finance receivable losses	491	475	1,354	1,656
Total other revenues	182	168	543	451
Total other expenses	423	396	1,273	1,182
Income before income taxes	250	247	624	925
Total assets	22,899	20,281	22,899	20,281
Other
Segment Reporting Information [Line Items]
Interest income	1	2	3	4
Interest expense	1	1	2	2
Provision for finance receivable losses	0	0	0	0
Net interest income after provision for finance receivable losses	0	1	1	2
Total other revenues	3	3	5	10
Total other expenses	7	3	11	11
Income before income taxes	(4)	1	(5)	1
Total assets	30	40	30	40
Segment to GAAP Adjustment
Segment Reporting Information [Line Items]
Interest income	0	0	1	1
Interest expense	1	1	3	2
Provision for finance receivable losses	0	1	0	3
Net interest income after provision for finance receivable losses	(1)	(2)	(2)	(4)
Total other revenues	0	(1)	0	(1)
Total other expenses	(1)	(1)	(2)	(2)
Income before income taxes	0	(2)	0	(3)
Total assets	$ 1,217	$ 2,020	$ 1,217	$ 2,020

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value & Carrying Value Hierarchy Basis (Details) - USD ($) $ in Millions	Sep. 30, 2023		Dec. 31, 2022	Sep. 30, 2022	[1]
Assets
Restricted cash and restricted cash equivalents	$ 580	[1]	$ 461	$ 483
Total Fair Value
Assets
Cash and cash equivalents	1,190		498
Investment securities	1,635		1,800
Net finance receivables, less allowance for finance receivable losses	20,384		19,272
Restricted cash and restricted cash equivalents	580		461
Other assets	38		43
Liabilities
Long-term debt	18,755		16,969
Total Carrying Value
Assets
Cash and cash equivalents	1,190		498
Investment securities	1,635		1,800
Net finance receivables, less allowance for finance receivable losses	18,618		17,675
Restricted cash and restricted cash equivalents	580		461
Other assets	29		35
Liabilities
Long-term debt	19,851		18,281
Level 1
Assets
Cash and cash equivalents	1,180		481
Investment securities	50		51
Net finance receivables, less allowance for finance receivable losses	0		0
Restricted cash and restricted cash equivalents	580		450
Other assets	0		0
Liabilities
Long-term debt	0		0
Level 2
Assets
Cash and cash equivalents	10		17
Investment securities	1,581		1,744
Net finance receivables, less allowance for finance receivable losses	0		0
Restricted cash and restricted cash equivalents	0		11
Other assets	0		0
Liabilities
Long-term debt	18,755		16,969
Level 3
Assets
Cash and cash equivalents	0		0
Investment securities	4		5
Net finance receivables, less allowance for finance receivable losses	20,384		19,272
Restricted cash and restricted cash equivalents	0		0
Other assets	38		43
Liabilities
Long-term debt	$ 0		$ 0
[1]Restricted cash and restricted cash equivalents primarily represent funds required to be used for future debt payments relating to our secured transactions.

Fair Value Measurements - Asset

Fair Value Measurements - Assets at Fair Value Recurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2023		Dec. 31, 2022	Sep. 30, 2022	[1]
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	$ 1,567		$ 1,729
Other securities	68		71
Restricted cash and restricted cash equivalents	580	[1]	461	$ 483
U.S. government and government sponsored entities
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	14		16
Obligations of states, municipalities, and political subdivisions
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	64		66
Corporate debt
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	1,025		1,137
RMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	172		192
CMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	33		35
CDO/ABS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	83		86
Level 1
Investments, Debt and Equity Securities [Abstract]
Total investment securities	50		51
Restricted cash and restricted cash equivalents	580		450
Level 2
Investments, Debt and Equity Securities [Abstract]
Total investment securities	1,581		1,744
Restricted cash and restricted cash equivalents	0		11
Level 3
Investments, Debt and Equity Securities [Abstract]
Total investment securities	4		5
Restricted cash and restricted cash equivalents	0		0
Fair Value, Measurements, Recurring
Assets
Cash equivalents in mutual funds	113		77
Cash equivalents in securities	10		17
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	1,567		1,729
Other securities	68		71
Total investment securities	1,635		1,800
Restricted cash equivalents in mutual funds	566		445
Restricted cash and restricted cash equivalents			11
Total	2,324		2,350
Fair Value, Measurements, Recurring | Total bonds
Investments, Debt and Equity Securities [Abstract]
Other securities	22		23
Fair Value, Measurements, Recurring | U.S. government and government sponsored entities
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	14		16
Fair Value, Measurements, Recurring | Obligations of states, municipalities, and political subdivisions
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	64		66
Fair Value, Measurements, Recurring | Commercial paper
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	23		55
Fair Value, Measurements, Recurring | Non-U.S. government and government sponsored entities
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	153		142
Fair Value, Measurements, Recurring | Corporate debt
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	1,025		1,137
Other securities	5		6
Fair Value, Measurements, Recurring | RMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	172		192
Other securities			1
Fair Value, Measurements, Recurring | CMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	33		35
Fair Value, Measurements, Recurring | CDO/ABS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	83		86
Other securities	17		16
Fair Value, Measurements, Recurring | Preferred stock
Investments, Debt and Equity Securities [Abstract]
Other securities	15		15
Fair Value, Measurements, Recurring | Common stock
Investments, Debt and Equity Securities [Abstract]
Other securities	31		33
Fair Value, Measurements, Recurring | Level 1
Assets
Cash equivalents in mutual funds	113		77
Cash equivalents in securities	0		0
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	6		5
Other securities	44		46
Total investment securities	50		51
Restricted cash equivalents in mutual funds	566		445
Restricted cash and restricted cash equivalents			0
Total	729		573
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
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	15		15
Fair Value, Measurements, Recurring | Level 1 | Common stock
Investments, Debt and Equity Securities [Abstract]
Other securities	29		31
Fair Value, Measurements, Recurring | Level 2
Assets
Cash equivalents in mutual funds	0		0
Cash equivalents in securities	10		17
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	1,559		1,721
Other securities	22		23
Total investment securities	1,581		1,744
Restricted cash equivalents in mutual funds	0		0
Restricted cash and restricted cash equivalents			11
Total	1,591		1,772
Fair Value, Measurements, Recurring | Level 2 | Total bonds
Investments, Debt and Equity Securities [Abstract]
Other securities	22		23
Fair Value, Measurements, Recurring | Level 2 | U.S. government and government sponsored entities
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	14		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		66
Fair Value, Measurements, Recurring | Level 2 | Commercial paper
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	23		55
Fair Value, Measurements, Recurring | Level 2 | Non-U.S. government and government sponsored entities
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	153		142
Fair Value, Measurements, Recurring | Level 2 | Corporate debt
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	1,017		1,129
Other securities	5		6
Fair Value, Measurements, Recurring | Level 2 | RMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	172		192
Other securities			1
Fair Value, Measurements, Recurring | Level 2 | CMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	33		35
Fair Value, Measurements, Recurring | Level 2 | CDO/ABS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	83		86
Other securities	17		16
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		0
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	2		3
Other securities	2		2
Total investment securities	4		5
Restricted cash equivalents in mutual funds	0		0
Restricted cash and restricted cash equivalents			0
Total	4		5
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	2		3
Other securities	0		0
Fair Value, Measurements, Recurring | Level 3 | RMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	0		0
Other securities			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	$ 2		$ 2
[1]Restricted cash and restricted cash equivalents primarily represent funds required to be used for future debt payments relating to our secured transactions.