Onemain Finance 10-K 13 Feb 24 2023 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2023	Jan. 31, 2024	Jun. 30, 2023
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 4,880,812,010
Entity Common Stock, Shares Outstanding		119,766,033
Documents Incorporated by Reference	The information required by Part III (Items 10, 11, 12, 13, and 14) of this Annual Report on Form 10-K is incorporated by reference from OneMain Holdings, Inc.'s Definitive Proxy Statement for its 2024 Annual Meeting to be filed with the Securities and Exchange Commission pursuant to Regulation 14A.
Entity Central Index Key	0001584207
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
OMFC
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		10,160,021
Documents Incorporated by Reference	The information required by Part III (Items 10, 11, 12, 13, and 14) of this Annual Report on Form 10-K is incorporated by reference from OneMain Holdings, Inc.'s Definitive Proxy Statement for its 2024 Annual Meeting to be filed with the Securities and Exchange Commission pursuant to Regulation 14A.
Entity Central Index Key	0000025598
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023
Auditor [Line Items]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Firm ID	238
Auditor Location	Dallas, Texas
OMFC
Auditor [Line Items]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Firm ID	238
Auditor Location	Dallas, Texas

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions		Dec. 31, 2023	Dec. 31, 2022
Assets
Cash and cash equivalents		$ 1,014	$ 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)		1,719	1,800
Net finance receivables (includes loans of consolidated VIEs of $12.8 billion in 2023 and $10.4 billion in 2022)		21,349	19,986
Unearned insurance premium and claim reserves		(771)	(749)
Allowance for finance receivable losses (includes allowance of consolidated VIEs of $1.4 billion in 2023 and $1.1 billion in 2022)		(2,480)	(2,311)
Net finance receivables, less unearned insurance premium and claim reserves and allowance for finance receivable losses		18,098	16,926
Restricted cash and restricted cash equivalents (includes restricted cash and restricted cash equivalents of consolidated VIEs of $523 million in 2023 and $442 million in 2022)	[1]	534	461
Goodwill		1,437	1,437
Other intangible assets		260	261
Other assets		1,232	1,154
Total assets		24,294	22,537
Liabilities and Shareholders’ Equity
Long-term debt (includes debt of consolidated VIEs of $11.6 billion in 2023 and $9.4 billion in 2022)		19,813	18,281
Insurance claims and policyholder liabilities		615	620
Deferred and accrued taxes		9	5
Other liabilities (includes other liabilities of consolidated VIEs of $26 million in 2023 and $20 million in 2022)		671	616
Total liabilities		21,108	19,522
Contingencies (Note 14)
Shareholders’ equity:
Common stock, par value $0.01 per share; 2,000,000,000 shares authorized, 119,757,277 and 121,042,125 shares issued and outstanding at December 31, 2023 and December 31, 2022, respectively		1	1
Additional paid-in capital		1,715	1,689
Accumulated other comprehensive loss		(87)	(127)
Retained earnings		2,285	2,119
Treasury stock, at cost; 15,383,804 and 13,813,476 shares at December 31, 2023 and December 31, 2022, respectively		(728)	(667)
Total shareholders’ equity		3,186	3,015
Total liabilities and shareholders’ equity		$ 24,294	$ 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.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions		Dec. 31, 2023	Dec. 31, 2022
Investment securities, fair value		$ 1,647	$ 1,729
Investment securities, amortized cost basis		1,765	1,897
Net finance receivables		21,349	19,986
Financing receivable, allowance for credit loss		2,480	2,311
Restricted cash and restricted cash equivalents	[1]	534	461
Long-term debt		19,813	18,281
Other liabilities		$ 671	$ 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)		119,757,277	121,042,125
Common stock, shares outstanding (in shares)		119,757,277	121,042,125
Treasury stock at cost (in shares)		15,383,804	13,813,476
Consolidated VIEs
Net finance receivables		$ 12,780	$ 10,432
Financing receivable, allowance for credit loss		1,428	1,126
Restricted cash and restricted cash equivalents		523	442
Long-term debt		11,579	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.

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Interest income	$ 4,564	$ 4,435	$ 4,364
Interest expense	1,019	892	937
Net interest income	3,545	3,543	3,427
Provision for finance receivable losses	1,721	1,402	593
Net interest income after provision for finance receivable losses	1,824	2,141	2,834
Other revenues:
Insurance	448	445	434
Investment	116	61	65
Gain on sales of finance receivables	52	63	47
Net loss on repurchases and repayments of debt	0	(27)
Other	119	87	63
Total other revenues	735	629	531
Other expenses:
Salaries and benefits	855	836	839
Other operating expenses	675	621	609
Insurance policy benefits and claims	189	158	176
Total other expenses	1,719	1,615	1,624
Income before income taxes	840	1,155	1,741
Income taxes	199	283	427
Net income	$ 641	$ 872	$ 1,314
Weighted average number of shares outstanding:
Basic (in shares)	120,382,227	124,178,643	132,653,889
Diluted (in shares)	120,629,590	124,417,274	133,054,494
Earnings per share:
Basic (in dollars per share)	$ 5.33	$ 7.02	$ 9.91
Diluted (in dollars per share)	$ 5.32	$ 7.01	$ 9.88

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 641	$ 872	$ 1,314
Other comprehensive income (loss):
Net change in unrealized gains (losses) on non-credit impaired available-for-sale securities	49	(229)	(53)
Retirement plan liability adjustments	0	(12)	(1)
Foreign currency translation adjustments	4	(10)	1
Changes in discount rate for insurance claims and policyholder liabilities	3	62	25
Other	(5)	22	11
Income tax effect:
Net change in unrealized gains (losses) on non-credit impaired available-for-sale securities	(11)	50	12
Retirement plan liability adjustments	0	3	1
Foreign currency translation adjustments	(1)	2	0
Changes in discount rate for insurance claims and policyholder liabilities	0	(14)	(5)
Other	1	(5)	(3)
Other comprehensive income (loss), net of tax, before reclassification adjustments	40	(131)	(12)
Net realized losses on available-for-sale securities, net of tax	0	(1)	(1)
Reclassification adjustments included in net income, net of tax	0	(1)	(1)
Other comprehensive income (loss), net of tax	40	(132)	(13)
Comprehensive income	$ 681	$ 740	$ 1,301

Consolidated Statements of Shar

Consolidated Statements of Shareholder's Equity - USD ($) $ in Millions		Total	Net impact of adoption of ASU 2022-02 (see Note 3)	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) Net impact of adoption of ASU 2022-02 (see Note 3)	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 3)	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, 2020		$ 3,441	$ (76)	$ 3,365	$ 1	$ 1	$ 1,655	$ 1,655	$ 94	$ (76)	$ 18	$ 1,691		$ 1,691	$ 0	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock repurchased		(368)													(368)
Share-based compensation expense, net of forfeitures		23					23
Withholding tax on share-based compensation		(6)					(6)
Other comprehensive loss		(13)							(13)
Cash dividends	[1]	(1,278)										(1,278)
Net income		1,314										1,314
Balance at end 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		(303)													(303)
Treasury stock issued (in shares)		2										(2)			4
Share-based compensation expense, net of forfeitures		31					31
Withholding tax on share-based compensation		(14)					(14)
Other comprehensive loss		(132)							(132)
Cash dividends	[1]	(478)										(478)
Net income		872										872
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]
Common stock repurchased		$ (65)													(65)
Treasury stock issued (in shares)		3										(1)			4
Share-based compensation expense, net of forfeitures		36					36
Withholding tax on share-based compensation		(10)					(10)
Other comprehensive loss		40							40
Cash dividends	[1]	(486)										(486)
Net income		641										641
Balance at end of period at Dec. 31, 2023		$ 3,186			$ 1		$ 1,715		$ (87)			$ 2,285			$ (728)
[1] * Cash dividends declared were $4.00 per share, $3.80 per share, and $9.55 per share in 2023, 2022, and 2021, respectively.

Consolidated Statements of Sh_2

Consolidated Statements of Shareholder's Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Dividends declared (in dollars per share)	$ 4	$ 3.80	$ 9.55

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net Cash Provided by (Used in) Operating Activities, Continuing Operations [Abstract]
Net income		$ 641	$ 872	$ 1,314
Reconciling adjustments:
Provision for finance receivable losses		1,721	1,402	593
Depreciation and amortization		257	262	264
Deferred income tax charge (benefit)		(36)	(64)	78
Net loss on repurchases and repayments of debt		0	27	78
Share-based compensation expense, net of forfeitures		36	31	23
Gain on sales of finance receivables		(52)	(63)	(47)
Other		(4)	2	(8)
Cash flows due to changes in other assets and other liabilities		(44)	(82)	(48)
Net cash provided by operating activities		2,519	2,387	2,247
Cash flows from investing activities
Net principal originations and purchases of finance receivables		(3,557)	(2,775)	(2,514)
Proceeds from sales of finance receivables		641	790	560
Available-for-sale securities purchased		(179)	(530)	(517)
Available-for-sale securities called, sold, and matured		323	463	404
Other securities purchased		(5)	(6)	(708)
Other securities called, sold, and matured		6	14	701
Other, net		(91)	(75)	(69)
Net cash used for investing activities		(2,862)	(2,119)	(2,143)
Cash flows from financing activities
Proceeds from issuance and borrowings of long-term debt, net of issuance costs		4,819	5,618	3,759
Repayments and repurchases of long-term debt		(3,328)	(5,149)	(3,921)
Cash dividends		(487)	(480)	(1,274)
Common stock repurchased		(65)	(303)	(368)
Treasury stock issued		3	2	0
Withholding tax on share-based compensation		(10)	(14)	(6)
Net cash provided by (used for) financing activities		932	(326)	(1,810)
Net change in cash and cash equivalents and restricted cash and restricted cash equivalents		589	(58)	(1,706)
Cash and cash equivalents and restricted cash and restricted cash equivalents at beginning of period		959	1,017	2,723
Cash and cash equivalents and restricted cash and restricted cash equivalents at end of period		1,548	959	1,017
Supplemental cash flow information
Cash and cash equivalents		1,014	498	541
Restricted cash and restricted cash equivalents	[1]	534	461	476
Total cash and cash equivalents and restricted cash and restricted cash equivalents		1,548	959	1,017
Interest paid		(968)	(857)	(891)
Income taxes paid		(215)	(343)	(403)
Cash paid for amounts included in the measurement of operating lease liabilities		(59)	(58)	(58)
Right-of-use assets obtained in exchange for operating lease obligations		$ 67	$ 66	$ 43
[1] Restricted cash and restricted cash equivalents primarily represent funds required to be used for future debt payments relating to our secured transactions.

Consolidated Balance Sheets - O

Consolidated Balance Sheets - OMFC - USD ($) $ in Millions		Dec. 31, 2023	Dec. 31, 2022
Assets
Cash and cash equivalents		$ 1,014	$ 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)		1,719	1,800
Net finance receivables (includes loans of consolidated VIEs of $12.8 billion in 2023 and $10.4 billion in 2022)		21,349	19,986
Unearned insurance premium and claim reserves		(771)	(749)
Allowance for finance receivable losses (includes allowance of consolidated VIEs of $1.4 billion in 2023 and $1.1 billion in 2022)		(2,480)	(2,311)
Net finance receivables, less unearned insurance premium and claim reserves and allowance for finance receivable losses		18,098	16,926
Restricted cash and restricted cash equivalents (includes restricted cash and restricted cash equivalents of consolidated VIEs of $523 million in 2023 and $442 million in 2022)	[1]	534	461
Goodwill		1,437	1,437
Other intangible assets		260	261
Other assets		1,232	1,154
Total assets		24,294	22,537
Liabilities and Shareholders’ Equity
Long-term debt (includes debt of consolidated VIEs of $11.6 billion in 2023 and $9.4 billion in 2022)		19,813	18,281
Insurance claims and policyholder liabilities		615	620
Deferred and accrued taxes		9	5
Other liabilities (includes other liabilities of consolidated VIEs of $26 million in 2023 and $20 million in 2022)		671	616
Total liabilities		21,108	19,522
Contingencies (Note 14)
Shareholders’ equity:
Common stock, par value $0.50 per share; 25,000,000 shares authorized, 10,160,021 shares issued and outstanding at December 31, 2023 and December 31, 2022		1	1
Additional paid-in capital		1,715	1,689
Accumulated other comprehensive loss		(87)	(127)
Retained earnings		2,285	2,119
Total shareholders’ equity		3,186	3,015
Total liabilities and shareholders’ equity		24,294	22,537
OMFC
Assets
Cash and cash equivalents		1,011	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)		1,719	1,800
Net finance receivables (includes loans of consolidated VIEs of $12.8 billion in 2023 and $10.4 billion in 2022)		21,349	19,986
Unearned insurance premium and claim reserves		(771)	(749)
Allowance for finance receivable losses (includes allowance of consolidated VIEs of $1.4 billion in 2023 and $1.1 billion in 2022)		(2,480)	(2,311)
Net finance receivables, less unearned insurance premium and claim reserves and allowance for finance receivable losses		18,098	16,926
Restricted cash and restricted cash equivalents (includes restricted cash and restricted cash equivalents of consolidated VIEs of $523 million in 2023 and $442 million in 2022)	[2]	534	461
Goodwill		1,437	1,437
Other intangible assets		260	261
Other assets		1,230	1,152
Total assets		24,289	22,527
Liabilities and Shareholders’ Equity
Long-term debt (includes debt of consolidated VIEs of $11.6 billion in 2023 and $9.4 billion in 2022)		19,813	18,281
Insurance claims and policyholder liabilities		615	620
Deferred and accrued taxes		9	5
Other liabilities (includes other liabilities of consolidated VIEs of $26 million in 2023 and $20 million in 2022)		672	617
Total liabilities		21,109	19,523
Contingencies (Note 14)
Shareholders’ equity:
Common stock, par value $0.50 per share; 25,000,000 shares authorized, 10,160,021 shares issued and outstanding at December 31, 2023 and December 31, 2022		5	5
Additional paid-in capital		1,959	1,933
Accumulated other comprehensive loss		(87)	(127)
Retained earnings		1,303	1,193
Total shareholders’ equity		3,180	3,004
Total liabilities and shareholders’ equity		$ 24,289	$ 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. Restricted cash and restricted cash equivalents primarily represent funds required to be used for future debt payments relating to our secured transactions.

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Parenthetical) - OMFC - USD ($) $ in Millions		Dec. 31, 2023	Dec. 31, 2022
Investment securities, fair value		$ 1,647	$ 1,729
Investment securities, amortized cost basis		1,765	1,897
Net finance receivables		21,349	19,986
Financing receivable, allowance for credit loss		2,480	2,311
Restricted cash and restricted cash equivalents	[1]	534	461
Long-term debt		19,813	18,281
Other liabilities		$ 671	$ 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)		119,757,277	121,042,125
Common stock, shares outstanding (in shares)		119,757,277	121,042,125
OMFC
Investment securities, fair value		$ 1,600	$ 1,700
Investment securities, amortized cost basis		1,800	1,900
Net finance receivables		21,349	19,986
Financing receivable, allowance for credit loss		2,480	2,311
Restricted cash and restricted cash equivalents	[2]	534	461
Long-term debt		19,813	18,281
Other liabilities		$ 672	$ 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		$ 12,780	$ 10,432
Financing receivable, allowance for credit loss		1,428	1,126
Restricted cash and restricted cash equivalents		523	442
Long-term debt		11,579	9,361
Other liabilities		26	20
Consolidated VIEs | OMFC
Net finance receivables		12,800	10,400
Financing receivable, allowance for credit loss		1,400	1,100
Restricted cash and restricted cash equivalents		523	442
Long-term debt		11,600	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. Restricted cash and restricted cash equivalents primarily represent funds required to be used for future debt payments relating to our secured transactions.

Consolidated Statements of Op_2

Consolidated Statements of Operations - OMFC - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Interest income	$ 4,564	$ 4,435	$ 4,364
Interest expense	1,019	892	937
Net interest income	3,545	3,543	3,427
Provision for finance receivable losses	1,721	1,402	593
Net interest income after provision for finance receivable losses	1,824	2,141	2,834
Other revenues:
Insurance	448	445	434
Investment	116	61	65
Gain on sales of finance receivables	52	63	47
Net loss on repurchases and repayments of debt	0	(27)
Other	119	87	63
Total other revenues	735	629	531
Other expenses:
Salaries and benefits	855	836	839
Other operating expenses	675	621	609
Insurance policy benefits and claims	189	158	176
Total other expenses	1,719	1,615	1,624
Income before income taxes	840	1,155	1,741
Income taxes	199	283	427
Net income	641	872	1,314
OMFC
Interest income	4,564	4,435	4,364
Interest expense	1,019	892	937
Net interest income	3,545	3,543	3,427
Provision for finance receivable losses	1,721	1,402	593
Net interest income after provision for finance receivable losses	1,824	2,141	2,834
Other revenues:
Insurance	448	445	434
Investment	116	61	65
Gain on sales of finance receivables	52	63	47
Net loss on repurchases and repayments of debt	0	(27)
Other	119	87	63
Total other revenues	735	629	531
Other expenses:
Salaries and benefits	855	836	839
Other operating expenses	675	621	609
Insurance policy benefits and claims	189	158	176
Total other expenses	1,719	1,615	1,624
Income before income taxes	840	1,155	1,741
Income taxes	199	283	427
Net income	$ 641	$ 872	$ 1,314

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income - OMFC - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net income	$ 641	$ 872	$ 1,314
Other comprehensive income (loss):
Net change in unrealized gains (losses) on non-credit impaired available-for-sale securities	49	(229)	(53)
Retirement plan liability adjustments	0	(12)	(1)
Foreign currency translation adjustments	4	(10)	1
Changes in discount rate for insurance claims and policyholder liabilities	3	62	25
Other	(5)	22	11
Income tax effect:
Net change in unrealized gains (losses) on non-credit impaired available-for-sale securities	(11)	50	12
Retirement plan liability adjustments	0	3	1
Foreign currency translation adjustments	(1)	2	0
Changes in discount rate for insurance claims and policyholder liabilities	0	(14)	(5)
Other	1	(5)	(3)
Other comprehensive income (loss), net of tax, before reclassification adjustments	40	(131)	(12)
Net realized losses on available-for-sale securities, net of tax	0	(1)	(1)
Reclassification adjustments included in net income, net of tax	0	(1)	(1)
Other comprehensive income (loss), net of tax	40	(132)	(13)
Comprehensive income	681	740	1,301
OMFC
Net income	641	872	1,314
Other comprehensive income (loss):
Net change in unrealized gains (losses) on non-credit impaired available-for-sale securities	49	(229)	(53)
Retirement plan liability adjustments	0	(12)	(1)
Foreign currency translation adjustments	4	(10)	1
Changes in discount rate for insurance claims and policyholder liabilities	3	62	25
Other	(5)	22	11
Income tax effect:
Net change in unrealized gains (losses) on non-credit impaired available-for-sale securities	(11)	50	12
Retirement plan liability adjustments	0	3	1
Foreign currency translation adjustments	(1)	2	0
Changes in discount rate for insurance claims and policyholder liabilities	0	(14)	(5)
Other	1	(5)	(3)
Other comprehensive income (loss), net of tax, before reclassification adjustments	40	(131)	(12)
Net realized losses on available-for-sale securities, net of tax	0	(1)	(1)
Reclassification adjustments included in net income, net of tax	0	(1)	(1)
Other comprehensive income (loss), net of tax	40	(132)	(13)
Comprehensive income	$ 681	$ 740	$ 1,301

Consolidated Statements of Sh_3

Consolidated Statements of Shareholder's Equity - 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, Adjustment	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, Adjustment	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, 2020	$ 3,441		$ (76)	$ 3,365	$ 1	$ 1	$ 1,655	$ 1,655	$ 94	$ (76)	$ 18	$ 1,691			$ 1,691	$ 3,440	$ (76)	$ 3,364	$ 5	$ 5	$ 1,899	$ 1,899	$ 94	$ (76)	$ 18	$ 1,442		$ 1,442
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation expense, net of forfeitures	23						23									23					23
Withholding tax on share-based compensation	(6)						(6)									(6)					(6)
Other comprehensive loss	(13)								(13)							(13)							(13)
Cash dividends	(1,278)	[1]										(1,278)	[1]			(1,678)										(1,678)
Net income	1,314											1,314				1,314										1,314
Balance at end 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]
Share-based compensation expense, net of forfeitures	$ 31						31									$ 31					31
Withholding tax on share-based compensation	(14)						(14)									(14)					(14)
Other comprehensive loss	(132)								(132)							(132)							(132)
Cash dividends	(478)	[1]										(478)	[1]			(757)										(757)
Net income	872											872				872										872
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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation expense, net of forfeitures	36						36									36					36
Withholding tax on share-based compensation	(10)						(10)									(10)					(10)
Other comprehensive loss	40								40							40							40
Cash dividends	(486)	[1]										(486)	[1]			(543)										(543)
Net income	641											641				641										641
Balance at end of period at Dec. 31, 2023	$ 3,186				$ 1		$ 1,715		$ (87)			$ 2,285				$ 3,180			$ 5		$ 1,959		$ (87)			$ 1,303
[1] * Cash dividends declared were $4.00 per share, $3.80 per share, and $9.55 per share in 2023, 2022, and 2021, respectively.

Consolidated Statements of Sh_4

Consolidated Statements of Shareholder's Equity (Parenthetical) - OMFC - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Dividends declared (in dollars per share)	$ 4	$ 3.80	$ 9.55

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows - OMFC - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net Cash Provided by (Used in) Operating Activities, Continuing Operations [Abstract]
Net income		$ 641	$ 872	$ 1,314
Reconciling adjustments:
Provision for finance receivable losses		1,721	1,402	593
Depreciation and amortization		257	262	264
Deferred income tax charge (benefit)		(36)	(64)	78
Net loss on repurchases and repayments of debt		0	27	78
Share-based compensation expense, net of forfeitures		36	31	23
Gain on sales of finance receivables		(52)	(63)	(47)
Other		(4)	2	(8)
Cash flows due to changes in other assets and other liabilities		(44)	(82)	(48)
Net cash provided by operating activities		2,519	2,387	2,247
Cash flows from investing activities
Net principal originations and purchases of finance receivables		(3,557)	(2,775)	(2,514)
Proceeds from sales of finance receivables		641	790	560
Available-for-sale securities purchased		(179)	(530)	(517)
Available-for-sale securities called, sold, and matured		323	463	404
Other securities purchased		(5)	(6)	(708)
Other securities called, sold, and matured		6	14	701
Other, net		(91)	(75)	(69)
Net cash used for investing activities		(2,862)	(2,119)	(2,143)
Cash flows from financing activities
Proceeds from issuance and borrowings of long-term debt, net of issuance costs		4,819	5,618	3,759
Repayments and repurchases of long-term debt		(3,328)	(5,149)	(3,921)
Cash dividends		(487)	(480)	(1,274)
Withholding tax on share-based compensation		(10)	(14)	(6)
Net cash provided by (used for) financing activities		932	(326)	(1,810)
Net change in cash and cash equivalents and restricted cash and restricted cash equivalents		589	(58)	(1,706)
Cash and cash equivalents and restricted cash and restricted cash equivalents at beginning of period		959	1,017	2,723
Cash and cash equivalents and restricted cash and restricted cash equivalents at end of period		1,548	959	1,017
Supplemental cash flow information
Cash and cash equivalents		1,014	498	541
Restricted cash and restricted cash equivalents	[1]	534	461	476
Total cash and cash equivalents and restricted cash and restricted cash equivalents		1,548	959	1,017
Interest paid		(968)	(857)	(891)
Income taxes paid		(215)	(343)	(403)
Cash paid for amounts included in the measurement of operating lease liabilities		(59)	(58)	(58)
Right-of-use assets obtained in exchange for operating lease obligations		67	66	43
OMFC
Net Cash Provided by (Used in) Operating Activities, Continuing Operations [Abstract]
Net income		641	872	1,314
Reconciling adjustments:
Provision for finance receivable losses		1,721	1,402	593
Depreciation and amortization		257	262	264
Deferred income tax charge (benefit)		(36)	(64)	78
Net loss on repurchases and repayments of debt		0	27	78
Share-based compensation expense, net of forfeitures		36	31	23
Gain on sales of finance receivables		(52)	(63)	(47)
Other		(4)	2	(8)
Cash flows due to changes in other assets and other liabilities		(44)	(81)	(44)
Net cash provided by operating activities		2,519	2,388	2,251
Cash flows from investing activities
Net principal originations and purchases of finance receivables		(3,557)	(2,775)	(2,514)
Proceeds from sales of finance receivables		641	790	560
Available-for-sale securities purchased		(179)	(530)	(517)
Available-for-sale securities called, sold, and matured		323	463	404
Other securities purchased		(5)	(6)	(708)
Other securities called, sold, and matured		6	14	701
Other, net		(91)	(75)	(69)
Net cash used for investing activities		(2,862)	(2,119)	(2,143)
Cash flows from financing activities
Proceeds from issuance and borrowings of long-term debt, net of issuance costs		4,819	5,618	3,759
Repayments and repurchases of long-term debt		(3,328)	(5,149)	(3,921)
Cash dividends		(544)	(759)	(1,677)
Withholding tax on share-based compensation		(10)	(14)	(6)
Net cash provided by (used for) financing activities		937	(304)	(1,845)
Net change in cash and cash equivalents and restricted cash and restricted cash equivalents		594	(35)	(1,737)
Cash and cash equivalents and restricted cash and restricted cash equivalents at beginning of period		951	986	2,723
Cash and cash equivalents and restricted cash and restricted cash equivalents at end of period		1,545	951	986
Supplemental cash flow information
Cash and cash equivalents		1,011	490	510
Restricted cash and restricted cash equivalents	[2]	534	461	476
Total cash and cash equivalents and restricted cash and restricted cash equivalents		1,545	951	986
Interest paid		(968)	(857)	(891)
Income taxes paid		(215)	(343)	(403)
Cash paid for amounts included in the measurement of operating lease liabilities		(59)	(58)	(58)
Right-of-use assets obtained in exchange for operating lease obligations		$ 67	$ 66	$ 43
[1] Restricted cash and restricted cash equivalents primarily represent funds required to be used for future debt payments relating to our secured transactions. Restricted cash and restricted cash equivalents primarily represent funds required to be used for future debt payments relating to our secured transactions.

Nature of Operations

Nature of Operations	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	1. Nature of Operations 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.”

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies BASIS OF PRESENTATION We prepared our consolidated financial statements using generally accepted accounting principles in the United States of America ("GAAP"). The statements include the accounts of OMH, its wholly owned subsidiarie s , 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 consolidated financial statements and disclosures of contingent assets and liabilities. In management’s opinion, the consolidated financial statements include the normal, recurring adjustments necessary for a fair statement of results. Ultimate results could differ from our estimates. We evaluated the effects of and the need to disclose events that occurred subsequent to the balance sheet date. To conform to the 2023 presentation, we reclassified certain items in prior periods of our consolidated financial statements. ACCOUNTING POLICIES Operating Segment At December 31, 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. Finance Receivables Generally, we classify finance receivables as held for investment based on management’s intent at the time of origination. We determine classification on a receivable-by-receivable basis. We classify finance receivables as held for investment due to our ability and intent to hold them until their contractual maturities. Our finance receivables held for investment consist of our personal loans and credit cards. We carry finance receivables at amortized cost which includes accrued finance charges, net unamortized deferred origination costs and unamortized fees, unamortized net premiums and discounts on purchased finance receivables, and unamortized finance charges on precomputed receivables. We include the cash flows from finance receivables held for investment in our consolidated statements of cash flows as investing activities, except for collections of interest, which we include as cash flows from operating activities. We may finance certain optional products offered to our customers as part of finance receivables. In such cases, the insurance premium is included as an operating cash inflow and the financing of the insurance premium is included as part of the finance receivable as an investing cash flow in our consolidated statements of cash flows. Finance Receivable Revenue Recognition We recognize finance charges as revenue on the accrual basis using the interest method, which we report in Interest income in our consolidated statements of operations. We defer and amortize the costs to originate certain finance receivables and the revenue from nonrefundable fees, along with any premiums or discounts, as an adjustment to finance charge income using the interest method. For credit cards, we amortize certain deferred costs on a straight-line basis over a twelve-month period. For our personal loans, we stop accruing finance charges when four payments (approximately 90 days) become contractually past due. We reverse finance charge amounts previously accrue d upon suspension of accrual of finance charges. For credit cards, we continue to accrue finance charges and fees until charge-off when seven payments (approximately 180 days) become contractually past due, at which point we reverse finance charges and fees previously accrued. For certain finance receivables that had a carrying value that included a purchase premium or discount, we stop accreting the premium or discount at the time we stop accruing finance charges. We do not reverse accretion of premium or discount that was previously recognized. For our personal loans, we recognize the contractual interest portion of payments received on nonaccrual finance receivables as finance charges at the time of receipt. We resume the accrual of interest on nonaccrual personal loans when the past due status on the individual finance receivable improves to the point that the finance receivable no longer meets our policy for nonaccrual. At that time, we also resume accretion of any unamortized premium or discount resulting from a previous purchase premium or discount. 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. Accounts 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 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) contractually 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 contractually 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) contractually past due and may charge-off prior to the account becoming seven payments (approximately 180 days) contractually 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. Goodwill Goodwill represents the amount of purchase price over the fair value of net assets we acquired in connection with business combinations. We test goodwill for potential impairment at least annually as of October 1 of each year and more frequently if events occur or circumstances change that would more likely than not reduce the fair value of our reporting unit below its carrying amount. We first complete a qualitative assessment to determine whether it is necessary to perform a quantitative impairment test. If the qualitative assessment indicates that it is more likely than not that the reporting unit’s fair value is less than its carrying amount, we proceed with the quantitative impairment test. When necessary, the fair value of the reporting unit is calculated utilizing the income approach, which uses prospective financial information of the reporting unit discounted at a rate we estimate a market participant would use. Intangible Assets other than Goodwill At the time we initially recognize intangible assets, a determination is made with regard to each asset’s useful life. We have determined that each of our remaining intangible assets have indefinite lives with the exception of value of business acquired (“VOBA”), which has a finite useful life. We amortize our finite useful life intangible assets in a manner that reflects the pattern of economic benefit used. For intangible assets with a finite useful life, we review for impairment when events or changes in circumstances indicate that their carrying amounts may not be recoverable. Impairment is indicated if the sum of undiscounted estimated future cash flows is less than the carrying value of the respective asset. Impairment is permanently recognized by writing down the asset to the extent that the carrying value exceeds the estimated fair value. For indefinite-lived intangible assets, we review for impairment at least annually and more frequently if events or changes in circumstances indicate the assets are more likely than not to be impaired. We first complete a qualitative assessment to determine whether it is necessary to perform a quantitative impairment test. If the qualitative assessment indicates that the assets are more likely than not to have been impaired, we proceed with the fair value calculation of the assets. The fair value is determined in accordance with our fair value measurement policy. If the carrying value exceeds the estimated fair value, an impairment loss will be recognized in an amount equal to the difference and the indefinite life classification will be evaluated to determine whether such classification remains appropriate. Leases All our leases are classified as operating leases, and we are the lessee or sublessor in all our lease arrangements. At inception of an arrangement, we determine if a lease exists. At lease commencement date, we recognize a right-of-use asset and a lease liability measured at the present value of lease payments over the lease term. Right-of-use assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Since our operating leases do not provide an implicit rate, we utilize the best available information to determine our incremental borrowing rate, which is used to calculate the present value of lease payments. The right-of-use asset also includes any prepaid fixed lease payments and excludes lease incentives. Options to extend or terminate a lease may be included in our lease arrangements. We reflect the renewal or termination option in the right-of-use asset and lease liability when it is reasonably certain that we will exercise those options. In the normal course of business, we will renew leases that expire or replace them with leases on other properties. We have elected the practical expedient to treat both the lease component and non-lease component for our leased office space portfolio as a single lease component. Operating lease costs for lease payments are recognized on a straight-line basis over the lease term and are included in Other operating expenses in our consolidated statements of operations. In addition to rent, we pay taxes, insurance, and maintenance expenses under certain leases as variable lease payments. The lease right-of-use assets are included in Other assets Other liabilities Insurance Premiums We recognize revenue for short-duration contracts over the related contract period. Short-duration contracts primarily consist of credit life, credit disability, credit involuntary unemployment insurance, and collateral protection policies. We defer single premium credit insurance premiums from affiliates in unearned premium reserves, which we include as a reduction to Net finance receivables in our consolidated balance sheets. We recognize unearned premiums on credit life, credit disability, credit involuntary unemployment insurance, and collateral protection insurance as revenue using the sum-of-the-digits, straight-line or other appropriate methods over the terms of the policies. Premiums from reinsurance assumed are earned over the related contract period. We recognize revenue on long-duration contracts when due from policyholders. Long-duration contracts include term and whole life, accidental death and dismemberment, and disability income protection. For single premium long-duration contracts, a liability is accrued, which represents the present value of estimated future policy benefits to be paid to or on behalf of policyholders and related expenses, when premium revenue is recognized. The effects of changes in such estimated future policy benefit reserves are classified in Insurance policy benefits and claims in our consolidated statements of operations. We recognize commissions on optional products as Other revenues - other in our consolidated statements of operations when earned. We may finance certain optional products offered to our customers as part of finance receivables. In such cases, unearned premiums and certain unpaid claim liabilities related to our borrowers are netted and classified as contra-assets in Net finance receivables in our consolidated balance sheets. The insurance premium is included as an operating cash inflow and the financing of the insurance premium is included as part of the finance receivable as an investing cash flow in our consolidated statements of cash flows. Policy and Claim Reserves Policy reserves for credit life, credit disability, credit involuntary unemployment, and collateral protection insurance equal related unearned premiums. Reserves for losses and loss adjustment expenses are based on claims experience, actual claims reported, and estimates of claims incurred but not reported. Assumptions utilized in determining appropriate reserves are based on historical experience, adjusted to provide for possible adverse deviation. These estimates are periodically reviewed and compared with actual experience and industry standards, and revised if it is determined that future experience will differ substantially from that previously assumed. Since reserves are based on estimates, the ultimate liability may be more or less than such reserves. The effects of changes in such estimated reserves are classified in Insurance policy benefits and claims in our consolidated statements of operations in the period in which the estimates are changed. We base annuity reserves on assumptions as to investment yields and mortality. Ceded insurance reserves are included in Other assets in our consolidated balance sheets and include estimates of the amounts expected to be recovered from reinsurers on insurance claims and policyholder liabilities. 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. Insurance Policy Acquisition Costs We defer insurance policy acquisition costs (primarily commissions, reinsurance fees, and premium taxes). We include deferred policy acquisition costs in Other assets in our consolidated balance sheets and amortize these costs over the terms of the related policies, whether directly written or reinsured. Investment Securities We generally classify our investment securities as available-for-sale or other, depending on management’s intent. Other securities primarily consist of equity securities and those securities for which the fair value option was elected. Our investment securities classified as available-for-sale are recorded at fair value. We adjust related balance sheet accounts to reflect the current fair value of investment securities and record the adjustment, net of tax, in Accumulated other comprehensive income or loss in shareholders’ equity. We record interest receivable on investment securities in Other assets in our consolidated balance sheets. We classify our investment securities in the fair value hierarchy framework based on the observability of inputs. Inputs to the valuation techniques are described as being either observable (Level 1 or 2) or unobservable (Level 3) assumptions (as further described in “Fair Value Measurements” below) that market participants would use in pricing an asset or liability. Impairments on Investment Securities We evaluate our available-for-sale securities on an individual basis to identify any instances where the fair value of the investment security is below its amortized cost. For these securities, we then evaluate whether an impairment exists if any of the following conditions are present: • we intend to sell the security; • it is more likely than not that we will be required to sell the security before recovery of its amortized cost basis; or • we do not expect to recover the security’s entire amortized cost basis (even if we do not intend to sell the security). If we intend to sell an impaired investment security or we will likely be required to sell the security before recovery of its amortized cost basis less any current period credit loss, we recognize the impairment as a direct write-down in Other revenues - investment in our consolidated statements of operation equal to the difference between the investment security’s amortized cost and its fair value at the balance sheet date. Once the impairment is recorded, we adjust the investment security to a new amortized cost basis equal to the previous amortized cost basis less the impairment write-down recognized in the current period. In determining whether a credit loss exists, we compare our best estimate of the present value of the cash flows expected to be collected from the security to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis of the security, a credit loss exists and an allowance for credit losses is recorded, not to exceed the total unrealized loss on the security. The cash flows expected to be collected are determined by assessing all available information, including issuer default rate, ratings changes and adverse conditions related to the industry sector, financial condition of issuer, credit enhancements, collateral default rates, and other relevant criteria. Management considers factors such as our investment strategy, liquidity requirements, overall business plans, and recovery periods for securities in previous periods of broad market declines. If a credit loss exists with respect to an investment in a security (i.e., we do not expect to recover the entire amortized cost basis of the security), we would be unable to assert that we will recover our amortized cost basis even if we do not intend to sell the security. Therefore, in these situations, a credit impairment is considered to have occurred. If a credit impairment exists, but we do not intend to sell the security and we will likely not be required to sell the security before recovery of its amortized cost basis less any current period credit loss, the impairment is bifurcated as: (i) the estimated amount relating to credit loss; and (ii) the amount relating to non-credit related factors. We recognize the estimated credit loss as an allowance on the balance sheet in investment securities, with a corresponding loss in Other revenues - investment, and the non-credit loss amount in Accumulated other comprehensive income or loss. For investment securities in which a credit impairment was recorded through an allowance, we record subsequent increases and decreases in the allowance for credit losses as credit loss expense or reversal of credit loss expense in Other revenues -investment. We will not reverse a previously recorded allowance to an amount below zero. We recognize subsequent increases and decreases in the fair value of our available-for-sale securities from non-credit related factors in Accumulated other comprehensive income or loss. Interest receivables on our investment securities are excluded from the amortized cost and fair value and are recorded in Other assets in our consolidated balance sheets. We have elected not to measure an allowance on interest receivables due to our policy to reverse interest receivable at the time collectability is uncertain. The reversal of interest receivable is recorded in Other revenues - investment in our consolidated statements of operations. Investment Revenue Recognition We recognize interest on interest bearing fixed-maturity investment securities as revenue on the accrual basis. We amortize any premiums or accrete any discounts as a revenue adjustment using the interest method. We stop accruing interest revenue when the collection of interest becomes uncertain. We record dividends on equity securities as revenue on ex-dividend dates. We recognize income on mortgage-backed and asset-backed securities as revenue using an effective yield based on estimated prepayments of the underlying collateral. If actual prepayments differ from estimated prepayments, we calculate a new effective yield and adjust the net investment in the security accordingly. We record the adjustment, along with all investment securities revenue, in Other revenues - investment in our consolidated statements of operations. We specifically identify realized gains and losses on investment securities and include them in Other revenues - investment in our consolidated statements of operations. Variable Interest Entities An entity is a VIE if the entity does not have sufficient equity at risk for the entity to finance its activities without additional financial support or has equity investors who lack the characteristics of a controlling financial interest. A VIE is consolidated into the financial statements of its primary beneficiary. When we have a variable interest in a VIE, we qualitatively assess whether we have a controlling financial interest in the entity and, if so, whether we are the primary beneficiary. In applying the qualitative assessment to identify the primary beneficiary of a VIE, we are determined to have a controlling financial interest if we have (i) the power to direct the activities that most significantly impact the economic performance of the VIE, and (ii) the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. We consider the VIE’s purpose and design, including the risks that the entity was designed to create and pass through to its variable interest holders. We continually reassess the VIE’s primary beneficiary and whether we have acquired or divested the power to direct the activities of the VIE through changes in governing documents or other circumstances. Cash and Cash Equivalents We consider unrestricted cash on hand and short-term investments having maturity dates within three months of their date of acquisition to be cash and cash equivalents. We typically maintain cash in financial institutions in excess of the Federal Deposit Insurance Corporation’s insurance limits. We evaluate the creditworthiness of these financial institutions in determining the risk associated with these cash balances. We do not believe that the Company is exposed to any significant credit risk on these accounts and have not experienced any losses in such accounts. Restricted Cash and Cash Equivalents We include funds to be used for future debt payments and collateral relating to our secured debt, insurance regulatory deposits, and reinsurance trusts with third parties, in each case, in restricted cash and cash equivalents. Long-term Debt We generally report our long-term debt issuances at the face value of the debt instrument, which we adjust for any unaccreted discount, unamortized premium, or unamortized debt issuance costs associated with the debt. Other than securitized products, we generally accrete discounts, premiums, and debt issuance costs over the contractual life of the security using contractual payment terms. With respect to securitized products, we have elected to amortize deferred costs over the contractual life of the security. Accretion of discounts and premiums are recorded to Interest expense in our consolidated statements of operations. Income Taxes We recognize income taxes using the asset and liability method. We establish deferred tax assets and liabilities for temporary differences between the financial reporting basis and the tax basis of assets and liabilities, using the tax rates expected to be in effect when the temporary differences reverse. Deferred tax assets are also recognized for tax attributes such as net operating loss carryforwards. Realization of our gross deferred tax asset depends on our ability to generate sufficient taxable income of the appropriate character within the carryforward periods of the jurisdictions in which the net operating and capital losses, deductible temporary differences and credits were generated. When we assess our ability to realize deferred tax assets, we consider all available evidence and we record valuation allowances to reduce deferred tax assets to the amounts that management conclude are more-likely-than-not to be realized. We recognize income tax benefits associated with uncertain tax positions, when, in our judgment, it is more likely than not that the position will be sustained upon examination by a taxing authority. For a tax position that meets the more likely than not recognition threshold, we initially and subsequently measure the tax benefit as the largest amount that we judge to have a greater than 50% likelihood of being realized upon ultimate settlement with the taxing authority. Retirement Benefit Plans We have funded and unfunded noncontributory defined pension plans. We recognize the net pension asset or liability, also referred to herein as the funded status of the benefit plan, in Other assets or Other liabilities in our consolidated balance sheets, depending on the funded status at the end of each reporting period. We recognize the net actuarial gains or losses and prior service cost or credit that arise during the period in Accumulated other comprehensive income or loss. Many of our employees are participants in our 401(k) Plan. Our contributions to the plan are charged to Salaries and benefits in our consolidated statements of operations. Share-based Compensation Plans We measure compensation cost for service-based and performance-based awards at estimated fair value and recognize compensation expense over the requisite service period for awards expected to vest. The estimation of awards that will ultimately vest requires judgment, and to the extent actual results or updated estimates differ from current estimates, such amounts will be recorded as a cumulative adjustment to Salaries and benefits in our consolidated statements of operations in the period estimates are revised. For service-based awards subject to graded vesting, expense is recognized under the straight-line method. Expense for performance-based awards with graded vesting is recognized under the accelerated method, whereby each vesting is treated as a separate award with expense for each vesting recognized ratably over the requisite service period. Fair Value Measurements Management is responsible for the determination of the fair value of our financial assets and financial liabilities and the supporting methodologies and assumptions. We employ widely accepted internal valuation models or utilize third-party valuation service providers to gather, analyze, and interpret market information and derive fair values based upon relevant methodologies and assumptions for individual instruments or pools of finance receivables. When our valuation service providers are unable to obtain sufficient market observable information upon which to estimate the fair value for a particular security, we determine fair value either by requesting brokers who are knowledgeable about these securities to provide a quote, which is generally non-binding, or by employing widely accepted internal valuation models. Our valuation process typically requires obtaining data about market transactions and other key valuation model inputs from internal or external sources and, through the use of widely accepted valuation models, provides a single fair value measurement for individual securities or pools of finance receivables. The inputs used in this process include, but are not limited to, market prices from recently completed transactions and transactions of comparable securities, interest rate yield curves, credit spreads, bid-ask spreads, currency rates, and other market-observable information as of the measurement date, as well as the specific attributes of the security being valued, including its term, interest rate, credit rating, industry sector, and other issue or issuer-specific information. When market transactions or other market observable data is limited, the extent to which judgment is applied in determi

Recent Accounting Pronouncement

Recent Accounting Pronouncements	12 Months Ended
	Dec. 31, 2023
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	3. 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 Accumulated 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 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 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 consolidated statements of operations were as follows: (dollars in millions, except per share amounts) As Reported ASU 2018-12 Adjustment As Recast Year Ended December 31, 2022 Insurance policy benefits and claims $ 150 $ 8 $ 158 Income before income taxes 1,163 (8) 1,155 Income taxes 285 (2) 283 Net income 878 (6) 872 Basic EPS (OMH only) 7.07 (0.05) 7.02 Diluted EPS (OMH only) 7.06 (0.05) 7.01 Year Ended December 31, 2021 Basic EPS (OMH only) $ 9.90 $ 0.01 $ 9.91 Diluted EPS (OMH only) 9.87 0.01 9.88 The effects of the adoption of ASU 2018-12 to our consolidated statements of comprehensive income were as follows: (dollars in millions) As Reported ASU 2018-12 Adjustment As Recast Year Ended December 31, 2022 Comprehensive income $ 698 $ 42 $ 740 Year Ended December 31, 2021 Comprehensive income $ 1,281 $ 20 $ 1,301 The effects of the adoption of ASU 2018-12 to our consolidated statements of cash flows were as follows: (dollars in millions) As Reported ASU 2018-12 Adjustment As Recast Year Ended December 31, 2022 Net income $ 878 $ (6) $ 872 Deferred income tax charge (62) (2) (64) Cash flows due to changes in other assets and other liabilities (OMH only) (90) 8 (82) Cash flows due to changes in other assets and other liabilities (OMFC only) (89) 8 (81) 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 Note 2 for the updated significant accounting policy as of the transition date of January 1, 2021. 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 Note 2 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 TDR finance receivables is no longer applicable for periods beginning on or after January 1, 2023. ACCOUNTING PRONOUNCEMENTS TO BE ADOPTED Segment Reporting In November of 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which requires annual and interim disclosure of significant segment expenses and other segment items. The amendments in this ASU will become effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The amendments should be applied on a retrospective basis to all prior periods presented in the financial statements. We are currently evaluating the impact of the standard on our segment disclosures. Income Taxes In December of 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires disaggregated information in the rate reconciliation and income taxes paid disclosures. The amendments in this ASU will become effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The amendments should be applied on a prospective basis, with retrospective application allowed. We are currently evaluating the impact of the standard on our income tax disclosures. We do not believe that any accounting pronouncements issued, but not yet effective, would have a material impact on our consolidated financial statements or disclosures, if adopted.

Finance Receivables

Finance Receivables	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
Finance Receivables	4. 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 December 31, 2023 Gross finance receivables * $ 20,721 $ 322 $ 21,043 Unearned fees (236) — (236) Accrued finance charges and fees 333 — 333 Deferred origination costs 201 8 209 Total $ 21,019 $ 330 $ 21,349 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 unpaid principal balance, billed interest, and fees. GEOGRAPHIC DIVERSIFICATION Geographic diversification of finance receivables reduces the concentration of credit risk associated with economic stresses in any one region. The largest concentrations of net finance receivables were as follows: December 31, 2023 2022 (a) (dollars in millions) Amount Percent Amount Percent Personal Loans: Texas $ 2,015 10 % $ 1,954 10 % Florida 1,609 8 1,446 7 California 1,527 7 1,391 7 Pennsylvania 1,317 6 1,249 6 North Carolina 1,072 5 1,110 6 Ohio 1,006 5 963 5 New York 879 4 749 4 Georgia 843 4 792 4 Illinois 826 4 777 4 Indiana 740 4 726 4 Other 9,185 43 8,722 43 Total personal loans $ 21,019 100 % $ 19,879 100 % Credit Cards: California $ 50 15 % $ 26 24 % Texas 46 14 15 14 Florida 38 11 8 8 Pennsylvania 18 5 4 4 Ohio 15 5 3 3 Georgia 15 5 3 3 Illinois 15 5 3 3 Other 133 40 45 41 Total credit cards $ 330 100 % $ 107 100 % (a) December 31, 2022 concentrations of net finance receivables are presented in the order of December 31, 2023 state concentrations. 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 total of $60 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 - other in our consolidated statements of operations. We sold $585 million and $720 million of gross finance receivables during the years ended December 31, 2023 and 2022, respectively. The gain on the sales were $52 million and $63 million during the years ended December 31, 2023 and 2022, respectively. Subsequent to year-end, we entered into a whole loan sale flow agreement with a third party, with a term of less than two years, in which we agreed to sell $600 million of gross receivables of newly originated unsecured personal loans along with any associated accrued interest. 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 $146 million and $126 million during the years ended December 31, 2023 and 2022, respectively. Finance charges recognized from the contractual interest portion of payments received on nonaccrual personal loans totaled $18 million and $16 million during the years ended December 31, 2023, and 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 180 days contractually past due, at which point we reverse finance charges and fees previously accrued. For credit cards, net accrued finance charges and fees reversed totaled $11 million during the year ended December 31, 2023, and were immaterial during the year ended December 31, 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 December 31, 2023 Performing Current $ 10,239 $ 5,730 $ 2,488 $ 778 $ 376 $ 114 $ 19,725 30-59 days past due 117 159 90 27 16 7 416 60-89 days past due 76 107 59 17 10 4 273 Total performing 10,432 5,996 2,637 822 402 125 20,414 Nonperforming (Nonaccrual) 90+ days past due 128 264 144 40 21 8 605 Total $ 10,560 $ 6,260 $ 2,781 $ 862 $ 423 $ 133 $ 21,019 Gross charge-offs $ 65 $ 749 $ 630 $ 183 $ 101 $ 40 $ 1,768 (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) December 31, 2023 2022 Current $ 297 $ 93 30-59 days past due 9 3 60-89 days past due 7 3 90+ days past due 17 8 Total $ 330 $ 107 There were no credit cards that were converted to term loans at December 31, 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) Year Ended Interest rate reduction and term extension $ 457 Interest rate reduction and principal forgiveness 331 Total modifications to borrowers experiencing financial difficulties $ 788 Modifications as a percent of net finance receivables - personal loans 3.75 % The financial effect of modifications made during the period were as follows: (dollars in millions) Year Ended Weighted-average interest rate reduction 19.48 % Weighted-average term extension (months) 25 Principal/interest forgiveness $ 44 The performance of modified finance receivables by delinquency status was as follows: (dollars in millions) December 31, 2023 Current $ 575 30-59 days past due 64 60-89 days past due 48 90+ days past due 101 Total* $ 788 * Excludes $89 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 contractually past due) were as follows: (dollars in millions) Year Ended Interest rate reduction and term extension $ 56 Interest rate reduction and principal forgiveness 20 Total $ 76 See Notes 3 and 5 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) December 31, 2022 2021 Pre-modification TDR net finance receivables $ 738 $ 453 Post-modification TDR net finance receivables: Rate reduction 465 310 Other * 273 143 Total post-modification TDR net finance receivables $ 738 $ 453 Number of TDR accounts 88,901 55,229 * “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 contractually past due) are reflected in the following table: (dollars in millions) December 31, 2022 2021 TDR net finance receivables * $ 136 $ 117 Number of TDR accounts 17,297 16,046 * 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 $223 million at December 31, 2023 and $81 million at December 31, 2022.

Allowance for Finance Receivabl

Allowance for Finance Receivable Losses	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
Allowance for Finance Receivable Losses	5. Allowance for Finance Receivable Losses We establish an allowance for finance receivable losses through the provision for finance receivable losses. We evaluate our finance receivable portfolio by the level of contractual delinquency in the portfolio, specifically in the late-stage delinquency buckets and inclusive of the migration of the 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. See Note 2 for additional information regarding our accounting policies for allowance for finance receivable losses. 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 December 31, 2023, our economic forecast used a reasonable and supportable period of 12 months. The increase in our allowance for finance receivable losses for the year ended December 31, 2023 was primarily due to the weakened macroeconomic environment and growth in our loan portfolio. We may experience further changes to the macroeconomic assumptions within our forecast, as well as changes to our loan loss performance outlook, both of which could lead to further changes in our allowance for finance receivable losses, allowance ratio, and provision for finance receivable losses. Changes in the allowance for finance receivable losses were as follows: (dollars in millions) Personal Loans Credit Cards Total Year Ended December 31, 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 1,651 70 1,721 Charge-offs (1,768) (27) (1,795) Recoveries 258 1 259 Balance at end of period $ 2,415 $ 65 $ 2,480 Year Ended December 31, 2022 Balance at beginning of period $ 2,090 $ 5 $ 2,095 Provision for finance receivable losses 1,379 23 1,402 Charge-offs (1,431) (7) (1,438) Recoveries 252 — 252 Balance at end of period $ 2,290 $ 21 $ 2,311 Year Ended December 31, 2021 Balance at beginning of period $ 2,269 $ — $ 2,269 Provision for finance receivable losses 588 5 593 Charge-offs (989) — (989) Recoveries 222 — 222 Balance at end of period $ 2,090 $ 5 $ 2,095 * 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 3 and 4 for additional information on the adoption of ASU 2022-02.

Investment Securities

Investment Securities	12 Months Ended
	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Investment Securities	6. 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 December 31, 2023* Fixed maturity available-for-sale securities: U.S. government and government sponsored entities $ 18 $ — $ (1) $ 17 Obligations of states, municipalities, and political subdivisions 72 — (6) 66 Commercial paper 14 — — 14 Non-U.S. government and government sponsored entities 172 1 (6) 167 Corporate debt 1,160 4 (79) 1,085 Mortgage-backed, asset-backed, and collateralized: RMBS 202 — (22) 180 CMBS 36 — (3) 33 CDO/ABS 91 — (6) 85 Total $ 1,765 $ 5 $ (123) $ 1,647 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 December 31, 2023 and 2022 was immaterial. Interest receivables reported in Other assets in our consolidated balance sheets totaled $14 million as of December 31, 2023 and 2022. There were no material amounts reversed from investment revenue for available-for-sale securities for the years ended December 31, 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 Losses * Fair Unrealized Fair Unrealized December 31, 2023 U.S. government and government sponsored entities $ 1 $ — $ 11 $ (1) $ 12 $ (1) Obligations of states, municipalities, and political subdivisions 2 — 62 (6) 64 (6) Commercial paper 14 — — — 14 — Non-U.S. government and government sponsored entities 22 — 97 (6) 119 (6) Corporate debt 15 — 925 (79) 940 (79) Mortgage-backed, asset-backed, and collateralized: RMBS 5 — 152 (22) 157 (22) CMBS 2 — 32 (3) 34 (3) CDO/ABS 1 — 62 (6) 63 (6) Total $ 62 $ — $ 1,341 $ (123) $ 1,403 $ (123) 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) * Unrealized losses on certain available-for-sale securities were less than $1 million and, therefore, were not quantified in the table above. On a lot basis, we had 1,984 and 2,280 investment securities in an unrealized loss position at December 31, 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 December 31, 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 December 31, 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 years ended December 31, 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 years ended December 31, 2023 and 2022. The proceeds of available-for-sale securities sold or redeemed totaled $90 million, $278 million and $250 million during 2023, 2022, and 2021, respectively. The net realized gains and losses were immaterial during 2023, 2022, and 2021. Contractual maturities of fixed-maturity available-for-sale securities at December 31, 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 $ 160 $ 161 Due after 1 year through 5 years 572 593 Due after 5 years through 10 years 499 548 Due after 10 years 118 134 Mortgage-backed, asset-backed, and collateralized securities 298 329 Total $ 1,647 $ 1,765 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 $524 million and $532 million at December 31, 2023 and December 31, 2022, respectively. OTHER SECURITIES The fair value of other securities by type was as follows: (dollars in millions) December 31, 2023 December 31, 2022 Fixed maturity other securities: Bonds $ 22 $ 23 Preferred stock 16 15 Common stock 34 33 Total $ 72 $ 71 Net unrealized gains on other securities held were immaterial for the year ended December 31, 2023. Net unrealized losses on other securities held were $9 million and immaterial for the years ended December 31, 2022 and 2021, respectively. Net realized gains and losses on other securities sold or redeemed were immaterial for the years ended December 31, 2023, 2022, and 2021. Other securities primarily consist of equity securities and those securities for which the fair value option was elected. We report net unrealized and realized gains and losses on other securities held, sold, or redeemed in Other revenue - investment.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	7. Goodwill and Other Intangible Assets GOODWILL The carrying amount of goodwill totaled $1.4 billion at December 31, 2023 and 2022. We did not record any impairments to goodwill during 2023, 2022 and 2021. OTHER INTANGIBLE ASSETS The gross carrying amount and accumulated amortization, in total and by major intangible asset class were as follows: (dollars in millions) Gross Carrying Amount Accumulated Amortization Net Other Intangible Assets December 31, 2023 Trade names $ 220 $ — $ 220 Licenses 25 — 25 VOBA 105 (91) 14 Other 1 — 1 Total $ 351 $ (91) $ 260 December 31, 2022 Trade names $ 220 $ — $ 220 Licenses 25 — 25 VOBA 105 (90) 15 Other 1 — 1 Total $ 351 $ (90) $ 261 Amortization expense was immaterial in 2023, and $13 million and $32 million in 2022 and 2021, respectively. The estimated aggregate amortization of other intangible assets for each of the next five years is immaterial.

Long-term Debt

Long-term Debt	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Long-term Debt	8. Long-term Debt Carrying value and fair value of long-term debt by type were as follows: December 31, 2023 December 31, 2022 (dollars in millions) Carrying Fair Carrying Fair Senior debt $ 19,641 $ 19,273 $ 18,109 $ 16,782 Junior subordinated debt 172 184 172 187 Total $ 19,813 $ 19,457 $ 18,281 $ 16,969 Weighted average effective interest rates on long-term debt by type were as follows: Years Ended December 31, At December 31, 2023 2022 2021 2023 2022 Senior debt 5.26 % 4.97 % 5.38 % 5.47 % 5.06 % Junior subordinated debt 14.53 7.42 4.02 15.12 11.91 Total 5.34 4.99 5.37 5.55 5.12 Principal maturities of long-term debt by type of debt at December 31, 2023 were as follows: Senior Debt (dollars in millions) Securitizations Private Secured Term Funding Revolving Unsecured Notes (a) Junior Total Interest rates (b) 0.87%-7.52% 6.45 % 7.08% 3.50%-9.00% 7.41 % 2024 $ — $ — $ — $ — $ — $ — 2025 — — — 1,249 — 1,249 2026 — — — 1,600 — 1,600 2027 — — — 750 — 750 2028 — — — 1,350 — 1,350 2029-2067 — — — 3,182 350 3,532 Secured (c) 11,275 350 1 — — 11,626 Total principal maturities $ 11,275 $ 350 $ 1 $ 8,131 $ 350 $ 20,107 Total carrying amount $ 11,228 $ 350 $ 1 $ 8,062 $ 172 $ 19,813 Debt issuance costs (d) (43) — — (64) — (107) (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 December 31, 2023. (c) Securitizations, private secured term funding, and borrowings under the revolving conduit facilities are not included in the above maturities by period due to their variable monthly repayments, which may result in pay-off prior to the stated maturity date. See Note 9 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 $34 million at December 31, 2023 and are reported in Other assets in our consolidated balance sheets. UNSECURED CORPORATE REVOLVER During the fourth quarter of 2023, OMFC increased the total maximum borrowing capacity of our unsecured corporate revolver to $1.3 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 December 31, 2023, no amounts were drawn under this facility. DEBT COVENANTS OMFC Debt Agreements The debt agreements to which OMFC and its subsidiaries are a party include customary terms and conditions, including covenants and representations and warranties. Some or all of these agreements also contain certain restrictions, including (i) restrictions on the ability to create senior liens on property and assets in connection with any new debt financings and (ii) OMFC’s ability to sell or convey all or substantially all of its assets, unless the transferee assumes OMFC’s obligations under the applicable debt agreement. In addition, the OMH guarantees of OMFC’s long-term debt discussed above are subject to customary release provisions. With the exception of OMFC’s junior subordinated debenture and unsecured corporate revolver, none of our debt agreements require OMFC or any of its subsidiaries to meet or maintain any specific financial targets or ratios. However, certain events, including non-payment of principal or interest, bankruptcy or insolvency, or a breach of a covenant or a representation or warranty, may constitute an event of default and trigger an acceleration of payments. In some cases, an event of default or acceleration of payments under one debt agreement may constitute a cross-default under other debt agreements resulting in an acceleration of payments under the other agreements. As of December 31, 2023, OMFC was in compliance with all of the covenants under its debt agreements. Junior Subordinated Debenture In January of 2007, OMFC issued the Junior Subordinated Debenture, consisting of $350 million aggregate principal amount of 60-year junior subordinated debt. The Junior Subordinated Debenture underlies the trust preferred securities sold by a trust sponsored by OMFC. OMFC can redeem the Junior Subordinated Debenture at par. On December 30, 2013, OMH entered into a guaranty agreement whereby it agreed to fully and unconditionally guarantee, on a junior subordinated basis, the payment of principal, premium (if any), and interest on the Junior Subordinated Debenture. Prior to June 30, 2023, the interest rate on the remaining principal balance of the Junior Subordinated Debenture consisted of a variable floating rate (determined quarterly) equal to 3-month LIBOR plus 1.75%. ICE Benchmark Administration and the Financial Conduct Authority announced that the publication of the most commonly used USD LIBOR settings has ceased to be provided after June 30, 2023. Effective in July 2023 the debenture transitioned from a LIBOR-based interest rate to a SOFR-based interest rate in accordance with the statutory framework provided by the Adjustable Interest Rate (LIBOR) Act, enacted in March 2022, and the rules adopted in December 2022 by the Board of Governors of the Federal Reserve System. The replacement rate is 3-month CME Term SOFR plus a spread adjustment of 0.26% plus 1.75%, or 7.41% as of December 31, 2023. Pursuant to the terms of the Junior Subordinated Debenture, OMFC, upon the occurrence of a mandatory trigger event, is required to defer interest payments to the holders of the Junior Subordinated Debenture (and not make dividend payments) unless OMFC obtains non-debt capital funding in an amount equal to all accrued and unpaid interest on the Junior Subordinated Debenture otherwise payable on the next interest payment date and pays such amount to the holders of the Junior Subordinated Debenture. A mandatory trigger event occurs if OMFC’s (i) tangible equity to tangible managed assets is less than 5.5% or (ii) average fixed charge ratio is not more than 1.10x for the trailing four quarters. Based upon OMFC’s financial results for the year ended December 31, 2023, a mandatory trigger event did not occur with respect to the interest payment due in January of 2024, as OMFC was in compliance with both required ratios discussed above.

Variable Interest Entities

Variable Interest Entities	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	9. Variable Interest Entities CONSOLIDATED VIES As part of our overall funding strategy and as part of our efforts to support our liquidity from sources other than our traditional capital market sources, we have transferred certain finance receivables to VIEs for asset-backed financing transactions, including secured debt and revolving conduit transactions. We have determined that OMFC or OneMain Financial Holdings, LLC (“OMFH”) is the primary beneficiary of these VIEs and, as a result, we include each VIE’s assets, including any finance receivables securing the VIE’s debt obligations, and related liabilities in our consolidated financial statements and each VIE’s asset-backed debt obligations are accounted for as secured borrowings. OMFC or OMFH is deemed to be the primary beneficiary of each VIE because OMFC or OMFH, as applicable, has the ability to direct the activities of the VIE that most significantly impact its economic performance, including the losses it absorbs and its right to receive economic benefits that are potentially significant. Such ability arises from OMFC’s or OMFH’s and their affiliates’ contractual right to service the finance receivables securing the VIEs’ debt obligations. To the extent we retain any debt obligation or residual interest in an asset-backed financing facility, we are exposed to potentially significant losses and potentially significant returns. The asset-backed debt obligations and conduits issued by the VIEs are supported by the expected cash flows from the underlying finance receivables securing such debt obligations. Cash inflows from these finance receivables are distributed to repay the debt obligations and related service providers in accordance with each transaction’s contractual priority of payments, referred to as the “waterfall.” The holders of the asset-backed debt obligations have no recourse to the Company if the cash flows from the underlying finance receivables securing such debt obligations are not sufficient to pay all principal and interest on the asset-backed debt obligations. With respect to any asset-backed financing transaction that has multiple classes of debt obligations, substantially all cash inflows will be directed to the senior debt obligations until fully repaid and, thereafter, to the subordinate debt obligations on a sequential basis. We retain an interest and credit risk in these financing transactions through our ownership of the residual interest in each VIE and, in some cases, the most subordinate class of debt obligations issued by the VIE, which are the first to absorb credit losses on the finance receivables securing the debt obligations. With respect to each financing transaction that is subject to the risk retention requirements of the Dodd-Frank Act, we either retain at least 5% of the balance of each such class of debt obligations and at least 5% of the residual interest in each related VIE or retain at least 5% of the fair value of all ABS interests (as defined in the risk retention requirements), which is satisfied by retention of the residual interest in each related VIE, which, in each case, collectively, represents at least 5% of the economic interest in the credit risk of the securitized assets in satisfaction of the risk retention requirements. We expect that any credit losses in the pools of finance receivables securing the asset-backed debt obligations will likely be limited to our retained interests described above. We have no obligation to repurchase or replace qualified finance receivables that subsequently become delinquent or are otherwise in default. We parenthetically disclose on our consolidated balance sheets the VIE’s assets that can only be used to settle the VIE’s obligations and liabilities if its creditors have no recourse against the primary beneficiary’s general credit. The carrying amounts of consolidated VIE assets and liabilities associated with our personal loan securitization trusts, private secured term funding, and revolving conduit facilities were as follows: (dollars in millions) December 31, 2023 2022 Assets Cash and cash equivalents $ 2 $ 2 Net finance receivables 12,780 10,432 Allowance for finance receivable losses 1,428 1,126 Restricted cash and restricted cash equivalents 523 442 Other assets 32 28 Liabilities Long-term debt $ 11,579 $ 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 $483 million in 2023, $305 million in 2022, and $293 million in 2021. SECURITIZED BORROWINGS Each of our securitizations contains a revolving period ranging from two PRIVATE SECURED TERM FUNDING At December 31, 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 16 revolving conduit facilities with a total maximum borrowing capacity of $6.4 billion as of December 31, 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 December 31, 2023. Amounts drawn on these facilities are collateralized by our personal loans.

Insurance

Insurance	12 Months Ended
	Dec. 31, 2023
Insurance [Abstract]
Insurance	10. Insurance Our insurance business is conducted through our wholly owned insurance subsidiaries, American Health and Life Insurance Company (“AHL”) and Triton Insurance Company (“Triton”). AHL is a life and health insurance company licensed in 49 states, the District of Columbia, and Canada to write credit life, credit disability, and non-credit insurance products. Triton is a property and casualty insurance company licensed in 50 states, the District of Columbia, and Canada to write credit involuntary unemployment, credit disability, and collateral protection insurance. INSURANCE RESERVES Components of our insurance reserves were as follows: (dollars in millions) December 31, 2023 2022 Finance receivable related: Payable to OMH: Unearned premium reserves $ 681 $ 672 Claim reserves 90 77 Subtotal (a) 771 749 Payable to third-party beneficiaries (b) 270 250 Non-finance receivable related (b) 345 370 Total $ 1,386 $ 1,369 (a) Reported in Unearned insurance premium and claim reserves in our consolidated balance sheets. (b) Reported in Insurance claims and policyholder liabilities in our consolidated balance sheets. The 2022 balances have been recast as a result of the modified retrospective adoption of ASU 2018-12. See Note 3 for additional information on the adoption of ASU 2018-12. Our insurance subsidiaries enter into reinsurance agreements with other insurers. Reserves related to unearned premiums, claims and benefits assumed from non-affiliated insurance companies totaled $303 million and $324 million at December 31, 2023 and 2022, respectively. Reserves related to unearned premiums, claims and benefits ceded to non-affiliated insurance companies totaled $57 million and $60 million at December 31, 2023 and 2022, respectively. Changes in the reserve for unpaid claims and loss adjustment expenses (net of reinsurance recoverables): (dollars in millions) At or for the Years Ended December 31, 2023 2022 (a) 2021 (a) Balance at beginning of period $ 93 $ 102 $ 135 Less reinsurance recoverables (3) (3) (3) Net balance at beginning of period 90 99 132 Additions for losses and loss adjustment expenses incurred to: Current year 173 144 165 Prior years (b) (2) (12) (19) Total 171 132 146 Reductions for losses and loss adjustment expenses paid related to: Current year (99) (84) (101) Prior years (57) (58) (78) Total (156) (142) (179) Foreign currency translation adjustment — 1 — Net balance at end of period 105 90 99 Plus reinsurance recoverables 3 3 3 Balance at end of period $ 108 $ 93 $ 102 (a) As a result of the modified retrospective adoption of ASU 2018-12, we have recorded a $13 million reduction to the 2021 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 3 for additional information on the adoption of ASU 2018-12. (b) At December 31, 2023, $2 million reflected a redundancy in the prior years’ net reserves, primarily due to net favorable developments of credit disability claims during the period. At December 31, 2022, $12 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. At December 31, 2021, $19 million reflected a redundancy in the prior years’ net reserves, primarily due to favorable development of credit disability and unemployment claims during the period. Incurred claims and allocated claim adjustment expenses, net of reinsurance, as of December 31, 2023, were as follows: Years Ended December 31, At December 31, 2023 (dollars in millions) 2019 (a) 2020 (a) 2021 (a) 2022 (a) 2023 Incurred-but- Cumulative Number of Reported Claims Cumulative Credit Insurance Accident Year 2019 $ 152 $ 146 $ 145 $ 143 $ 143 $ — 45,514 2.0 % 2020 224 206 205 205 3 68,897 3.1 % 2021 — — 161 156 155 8 38,154 1.8 % 2022 — — — 140 139 18 34,077 1.5 % 2023 — — — — 170 73 33,567 1.5 % Total $ 812 (a) Unaudited. (b) Includes expected development on reported claims. (c) Frequency for each accident year is calculated as the ratio of all reported claims incurred to the total exposures in force. Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance, as of December 31, 2023, were as follows: Years Ended December 31, (dollars in millions) 2019 * 2020 * 2021 * 2022 * 2023 Credit Insurance Accident Year 2019 $ 86 $ 125 $ 135 $ 141 $ 143 2020 — 127 185 196 202 2021 — — 99 137 147 2022 — — — 82 121 2023 — — — — 97 Total $ 710 All outstanding liabilities before 2019, net of reinsurance — Liabilities for claims and claim adjustment expenses, net of reinsurance $ 102 * Unaudited. The reconciliations of the net incurred and paid claims development to the liability for claims and claim adjustment expenses were as follows: (dollars in millions) December 31, 2023 Liabilities for unpaid claims and claim adjustment expenses, net of reinsurance: Credit insurance $ 102 Other short-duration insurance lines 3 Total 105 Insurance lines other than short-duration 3 Total gross liability for unpaid claims and claim adjustment expense $ 108 We use completion factors to estimate the unpaid claim liability for credit insurance and most other short-duration products. For some products, the unpaid claim liability is estimated as a percent of exposure. There have been no significant changes in methodologies or assumptions during 2023. Our average annual percentage payout of incurred claims by age, net of reinsurance, as of December 31, 2023, were as follows: Years 1 2 3 4 5 Credit insurance* 60.6 % 26.9 % 6.2 % 3.3 % 1.5 % * Unaudited. 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 (11) (1) 17 (6) Adjusted balance at beginning of period 231 46 277 53 Interest accretion 13 2 14 3 Net premiums collected (32) (7) (47) (8) Ending balance at original discount rate 212 41 244 48 Effect of changes in discount rate assumptions 5 — 8 — Balance at ending of period $ 217 $ 41 $ 252 $ 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 (14) — 5 (7) Adjusted balance at beginning of period 448 124 497 131 Net issuances 3 1 3 — Interest accretion 25 6 26 7 Benefit payments (53) (18) (60) (13) Ending balance at original discount rate 423 113 466 125 Effect of changes in discount rate assumptions 12 — 17 1 Balance at ending of period $ 435 $ 113 $ 483 $ 126 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 $ 218 $ 72 $ 231 $ 78 Deferred profit liability 14 51 16 57 Total net liability for future policy benefits $ 232 $ 123 $ 247 $ 135 The weighted-average duration of the liability for future policy benefits was 8 years at December 31, 2023 and 2022. The following table reconciles the net liability for future policy benefits to Insurance claims and policyholder liabilities in the consolidated balance sheets: At or for the (dollars in millions) 2023 2022 Term and whole life $ 232 $ 247 Accidental death and disability protection 123 135 Other* 260 238 Total $ 615 $ 620 * 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 $ 430 $ 146 $ 472 $ 164 Discounted 311 106 345 119 Expected future benefit payments: Undiscounted 607 166 674 183 Discounted 435 113 483 126 The revenue and interest accretion related to our long-duration insurance contracts recognized in the consolidated statements of operations were as follows: At or for the 2023 2022 2021 (dollars in millions) Term and Accidental Death and Disability Protection Term and Accidental Death and Disability Protection Term and Whole Life Accidental Death and Disability Protection Gross premiums or assessments $ 57 $ 19 $ 62 $ 20 $ 69 $ 23 Interest accretion $ 12 $ 4 $ 12 $ 4 $ 13 $ 4 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 0.32 % 0.01 % 0.36 % 0.01 % Lapses: Expected 2.94 % 1.94 % 2.35 % 1.93 % Actual 2.39 % 2.12 % 2.05 % 2.92 % 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 5.28 % 4.87 % 5.26 % 4.86 % Current discount rate 4.98 % 4.98 % 4.83 % 4.80 % STATUTORY ACCOUNTING Our insurance subsidiaries file financial statements prepared using statutory accounting practices prescribed or permitted by the Department of Insurance (“DOI”) which is a comprehensive basis of accounting other than GAAP. The primary differences between statutory accounting practices and GAAP are that under statutory accounting, policy acquisition costs are expensed as incurred, policyholder liabilities are generally valued using prescribed actuarial assumptions, and certain investment securities are reported at amortized cost. We are not required and did not apply purchase accounting to the insurance subsidiaries on a statutory basis. Statutory net income for our insurance companies by type of insurance was as follows: (dollars in millions) Years Ended December 31, 2023 2022 2021 Property and casualty: Triton $ 46 $ 58 $ 66 Life and health: AHL $ 100 $ 98 $ 79 Statutory capital and surplus for our insurance companies by type of insurance were as follows: (dollars in millions) December 31, 2023 2022 Property and casualty: Triton $ 180 $ 210 Life and health: AHL $ 279 $ 387 Our insurance companies are also subject to risk-based capital requirements adopted by the Texas DOI. Minimum statutory capital and surplus is the risk-based capital level that would trigger regulatory action. At December 31, 2023 and 2022, our insurance subsidiaries’ statutory capital and surplus exceeded the risk-based capital minimum required levels. DIVIDEND RESTRICTIONS Our insurance subsidiaries are subject to domiciliary state regulations that limit their ability to pay dividends. AHL and Triton are domiciled in Texas. State law restricts the amounts that our insurance subsidiaries may pay as dividends without prior notice to the state of domicile DOI. The maximum amount of dividends, referred to as “ordinary dividends,” for a Texas domiciled life insurance company that can be paid without prior approval in a 12 month period (measured retrospectively from the date of payment) is the greater of: (i) 10% of policyholders’ surplus as of the prior year-end or (ii) the statutory net gain from operations as of the prior year-end. Any amount greater must be approved by the state of domicile DOI. The maximum ordinary dividends for a Texas domiciled property and casualty insurance company that can be paid without prior approval in a 12 month period (measured retrospectively from the date of payment) is the greater of: (i) 10% of policyholders’ surplus as of the prior year-end or (ii) the statutory net income. Any amount greater must be approved by the state of domicile DOI. These approved dividends are called “extraordinary dividends.” Ordinary dividends paid were as follows: (dollars in millions) Years Ended December 31, 2023 2022 2021 Triton $ 58 $ 50 $ — AHL $ 98 $ — $ 50 Extraordinary dividends paid were as follows: (dollars in millions) Years Ended December 31, 2023 2022 2021 Triton $ 23 $ — $ — AHL $ 107 $ — $ —

Capital Stock and Earnings Per

Capital Stock and Earnings Per Share (OMH Only)	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Capital Stock and Earnings Per Share (OMH Only)	11. Capital Stock and Earnings Per Share (OMH Only) CAPITAL STOCK OMH has two classes of authorized capital stock: preferred stock and common stock. 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 (the “Board”) and the OMFC Board of Directors determine the dividend, liquidation, redemption, conversion, voting, and other rights prior to issuance. Par value and shares authorized at December 31, 2023 were as follows: OMH OMFC Preferred Stock * Common Stock Special Stock * Common Stock Par value $ 0.01 $ 0.01 $ — $ 0.50 Shares authorized 300,000,000 2,000,000,000 25,000,000 25,000,000 * No shares of OMH preferred stock or OMFC special stock were issued and outstanding at December 31, 2023 or 2022. Changes in OMH shares of common stock issued and outstanding were as follows: At or for the Years Ended December 31, 2023 2022 2021 Balance at beginning of period 121,042,125 127,809,640 134,341,724 Common shares issued 285,480 333,038 180,839 Common shares repurchased (1,651,717) (7,181,023) (6,712,923) Treasury stock issued 81,389 80,470 — Balance at end of period 119,757,277 121,042,125 127,809,640 OMFC shares issued and outstanding were as follows: Special Stock Common Stock 2023 2022 2023 2022 Shares issued and outstanding — — 10,160,021 10,160,021 EARNINGS PER SHARE (OMH ONLY) The computation of earnings per share was as follows: (dollars in millions, except per share data) Years Ended December 31, 2023 2022 2021 Numerator (basic and diluted): Net income $ 641 $ 872 $ 1,314 Denominator: Weighted average number of shares outstanding (basic) 120,382,227 124,178,643 132,653,889 Effect of dilutive securities * 247,363 238,631 400,605 Weighted average number of shares outstanding (diluted) 120,629,590 124,417,274 133,054,494 Earnings per share: Basic $ 5.33 $ 7.02 $ 9.91 Diluted $ 5.32 $ 7.01 $ 9.88 * We have excluded weighted-average unvested restricted stock units totaling 1,048,970, 1,335,442, and 421,511 for 2023, 2022, and 2021, respectively, from the fully-diluted earnings per share calculations as these shares would be anti-dilutive, which could impact the earnings per share calculation in the future. Basic earnings per share is computed by dividing net income by the weighted-average number of shares outstanding during each period. Diluted earnings per share is computed based on the weighted-average number of shares outstanding plus the effect of potentially dilutive shares outstanding during the period using the treasury stock method. The potentially dilutive shares represent outstanding unvested restricted stock units (“RSUs”).

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	12. Accumulated Other Comprehensive Income (Loss) Changes, net of tax, in Accumulated other comprehensive income (loss) were as follows: (dollars in millions) Unrealized Retirement Foreign Changes in discount rate for insurance claims and policyholder liabilities Other (b) Total Year Ended Balance at beginning of period $ (131) $ (8) $ (5) $ (8) $ 25 $ (127) Other comprehensive income (loss) before reclassifications 38 — 3 3 (4) 40 Balance at end of period $ (93) $ (8) $ (2) $ (5) $ 21 $ (87) Year Ended Balance at beginning of period $ 49 $ 1 $ 3 $ (56) $ 8 $ 5 Other comprehensive income (loss) before reclassifications (179) (9) (8) 48 17 (131) Reclassification adjustments from accumulated other comprehensive income (1) — — — — (1) Balance at end of period $ (131) $ (8) $ (5) $ (8) $ 25 $ (127) Year Ended Balance at beginning of period $ 91 $ 1 $ 2 $ — $ — $ 94 Impact of adoption of ASU 2018-12 — — — (76) — (76) Adjusted beginning balance 91 1 2 (76) — 18 Other comprehensive income (loss) before reclassifications (41) — 1 20 8 (12) Reclassification adjustments from accumulated other comprehensive income (1) — — — — (1) Balance at end of period $ 49 $ 1 $ 3 $ (56) $ 8 $ 5 (a) There were no material amounts related to available-for-sale debt securities for which an allowance for credit losses was recorded during the years ended December 31, 2023, 2022 and 2021. (b) Other primarily includes changes in the fair value of our mark-to-market derivative instruments that have been designated as cash flow hedges. Reclassification adjustments from Accumulated other comprehensive income (loss) to the applicable line item on our consolidated statements of operations were immaterial for the years ended December 31, 2023, 2022, and 2021.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	13. Income Taxes OMH and all of its eligible domestic U.S. subsidiaries file a consolidated life/non-life federal tax return with the IRS. Income taxes from the consolidated federal and state tax returns are allocated to our eligible subsidiaries under a tax sharing agreement with OMH. The Company’s foreign subsidiaries/branches file tax returns in Canada, Puerto Rico, and the U.S. Virgin Islands. The Company recognizes a deferred tax liability for the undistributed earnings of its foreign operations, if any, as we do not consider the amounts to be permanently reinvested. As of December 31, 2023, the Company had no undistributed foreign earnings. Components of income before income tax expense were as follows: (dollars in millions) Years Ended December 31, 2023 2022 2021 Income before income tax expense - U.S. operations $ 817 $ 1,134 $ 1,722 Income before income tax expense - foreign operations 23 21 19 Total $ 840 $ 1,155 $ 1,741 Components of income tax expense (benefit) were as follows: (dollars in millions) Years Ended December 31, 2023 2022 2021 Current: Federal $ 194 $ 288 $ 298 Foreign 4 4 1 State 37 55 50 Total current 235 347 349 Deferred: Federal (25) (53) 55 State (11) (11) 23 Total deferred (36) (64) 78 Total $ 199 $ 283 $ 427 Expense from foreign income taxes includes foreign subsidiaries/branches that operate in Canada, Puerto Rico, and the U.S. Virgin Islands. OMH's and OMFC’s reconciliations of the statutory federal income tax rate to the effective income tax rate were as follows: Years Ended December 31, 2023 2022 2021 Statutory federal income tax rate 21.00 % 21.00 % 21.00 % State income taxes, net of federal 2.56 2.93 3.27 Change in valuation allowance 0.93 0.18 0.24 Nondeductible compensation 0.30 0.48 0.50 Other, net (1.19) (0.06) (0.45) Effective income tax rate 23.60 % 24.53 % 24.56 % A reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits (all of which would affect the effective income tax rate if recognized) is as follows: (dollars in millions) Years Ended December 31, 2023 2022 2021 Balance at beginning of year $ 6 $ 8 $ 10 Increases in tax positions for current years 6 — 2 Lapse in statute of limitations (1) (3) (2) Increases in tax positions for prior years — 1 2 Settlements with tax authorities — — (4) Balance at end of year $ 11 $ 6 $ 8 Our gross unrecognized tax benefits include related interest and penalties. We accrue interest and penalties related to uncertain tax positions in income tax expense. The amount of any change in the balance of uncertain tax liabilities over the next 12 months is not expected to be material to our consolidated financial statements. We are under examination by various states for the years 2017 to 2022. Management believes it has adequately provided for taxes for such years. Components of deferred tax assets and liabilities were as follows: (dollars in millions) December 31, 2023 2022 Deferred tax assets: Allowance for loan losses $ 614 $ 573 Net operating losses and tax credits 46 35 Capitalized research and experimental costs 34 29 Insurance reserves 27 28 Pension/employee benefits 27 24 Fair value of equity and securities investments 19 29 Other 40 28 Total 807 746 Deferred tax liabilities: Goodwill 188 166 Debt fair value adjustment 42 42 Deferred loan fees 27 25 Fixed assets 14 16 Other 22 11 Total 293 260 Net deferred tax assets before valuation allowance 514 486 Valuation allowance (37) (30) Net deferred tax assets $ 477 $ 456 The gross deferred tax liabilities are expected to reverse in time, and projected taxable income is expected to be sufficient to create positive taxable income, which will allow for the realization of all of our gross federal deferred tax assets and a portion of the state deferred tax assets. At December 31, 2023, we had state net operating loss carryforwards of $601 million compared to $480 million at December 31, 2022. The state net operating loss carryforwards mostly expire between 2034 and 2044, except for some states which conform to the federal rules for indefinite carryforward. We had a valuation allowance on our gross state deferred tax assets, net of deferred federal tax benefit, of $27 million and $24 million at December 31, 2023 and 2022, respectively. The total valuation allowance was established based on management’s determination that the deferred tax assets are more likely than not to not be realized.

Leases and Contingencies

Leases and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Leases and Contingencies	14. Leases and Contingencies LEASES Our operating leases primarily consist of leased office space, automobiles, and information technology equipment and have remaining lease terms of one Our operating right-of-use asset and liability balances were $165 million and $173 million, respectively, at December 31, 2023 and $152 million and $161 million, respectively, at December 31, 2022. At December 31, 2023, maturities of lease liabilities, excluding leases on a month-to-month basis, were as follows: (dollars in millions) Operating Leases 2024 $ 64 2025 53 2026 39 2027 25 2028 10 2029 3 Thereafter 1 Total lease payments 195 Imputed interest (22) Total $ 173 Weighted Average Remaining Lease Term 3.64 Weighted Average Discount Rate 4.07 % Operating lease cost and variable lease cost, which are recorded in Other operating expenses in our consolidated statements of operations, were as follows: (dollars in millions) Years Ended December 31, 2023 2022 2021 Operating lease cost $ 63 $ 58 $ 60 Variable lease cost 15 14 15 Total $ 78 $ 72 $ 75 Our sublease income was immaterial for the years ended December 31, 2023, 2022, and 2021. LEGAL CONTINGENCIES In the normal course of business, we have been named, from time to time, as defendants in various legal actions, including arbitrations, class actions, and other litigation arising in connection with our activities. Some of the actual or threatened legal actions include claims for substantial compensatory and/or punitive damages or claims for indeterminate amounts of damages. While we will continue to evaluate legal actions to determine whether a loss is reasonably possible or probable and is reasonably estimable, there can be no assurance that material losses will not be incurred from pending, threatened or future litigation, investigations, examinations, or other claims. We contest liability and/or the amount of damages, as appropriate, in each pending matter. Where available information indicates that it is probable that a liability had been incurred at the date of the consolidated financial statements and we can reasonably estimate the amount of that loss, we accrue the estimated loss by a charge to income. In many actions, however, it is inherently difficult to determine whether any loss is probable or even reasonably possible, or to estimate the amount of any loss. In addition, even where loss is reasonably possible or an exposure to loss exists in excess of the liability already accrued with respect to a previously recognized loss contingency, it is not always possible to reasonably estimate the size of the possible loss or range of loss. For certain legal actions, we cannot reasonably estimate such losses, particularly for actions that are in their early stages of development or where plaintiffs seek substantial or indeterminate damages. Numerous issues may need to be resolved, including through potentially lengthy discovery and determination of important factual matters, and by addressing novel or unsettled legal questions relevant to the actions in question, before a loss or additional loss or range of loss or range of additional loss can be reasonably estimated for any given action. For certain other legal actions, we can estimate reasonably possible losses, additional losses, ranges of loss or ranges of additional loss in excess of amounts accrued, but do not believe, based on current knowledge and after consultation with counsel, that such losses will have a material adverse effect on our consolidated financial statements as a whole.

Retirement Benefit Plans

Retirement Benefit Plans	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Retirement Benefit Plans	15. Retirement Benefit Plans The Company sponsors various retirement benefit plans to eligible employees of the Company. DEFINED CONTRIBUTION PLANS OneMain 401(k) Plan The OneMain 401(k) Plan (the “401(k) Plan”) provided for a 100% Company matching on the first 4% of the salary reduction contributions of the U.S. employees for 2023, 2022, and 2021. The salaries and benefits expense associated with this plan was $19 million in 2023, $19 million in 2022, and $17 million in 2021. In addition, the Company may make a discretionary profit sharing contribution to the 401(k) Plan. The Company has full discretion to determine whether to make such a contribution, and the amount of such contribution. In no event, however, will the discretionary profit sharing contribution exceed 4% of annual pay. The Company did not make any discretionary profit sharing contributions to the 401(k) Plan in 2023, 2022, or 2021. OneMain Nonqualified Deferred Compensation Plan The OneMain Holdings, Inc. Nonqualified Deferred Compensation Plan (the “NQDC Plan”) was approved by the committee of the Board which oversees OMH’s compensation programs (the “Compensation Committee”) in October 2021 and provides certain eligible employees with the option to defer receipt of some or all of their annual cash incentives and some of their base salaries earned on or after January 1, 2022. Employer contributions are not permitted under the NQDC Plan and employee contributions will be fully vested at all times. Distributions of participant accounts will be made following a participant’s separation of service, death, disability, unforeseeable emergency or as of a future payment date specified by the participant. The NQDC Plan assets and related obligation was immaterial as of December 31, 2023. Investment income or loss earned by the NQDC Plan is recorded as Other revenues - other in our consolidated statements of operations. The investment income or loss also represents an increase or decrease in the future payout to the participants with an offset recorded as Salaries and benefits in our consolidated statements of operations. The net effect of investment income or loss and the related salaries and benefits expense or benefit has no impact on our net income. DEFINED BENEFIT PLANS Springleaf Financial Services Retirement Plan The Springleaf Financial Services Retirement Plan (the “Springleaf Retirement Plan”) is a qualified non-contributory defined benefit plan, which is subject to the provisions of Employee Retirement Income Security Act of 1974 (“ERISA”). Effective December 31, 2012, the Springleaf Retirement Plan was frozen with respect to both benefits accrual and new participation. U.S. salaried employees who were employed by a participating company, had attained age 21, and completed twelve months of continuous service were eligible to participate in the plan. Employees generally vested after 5 years of service. Prior to January 1, 2013, unreduced benefits were paid to retirees at normal retirement (age 65) and were based upon a percentage of final average compensation multiplied by years of credited service, up to 44 years. Our current and former employees will not lose any vested benefits in the Springleaf Retirement Plan that accrued prior to January 1, 2013. CommoLoCo Retirement Plan The CommoLoCo Retirement Plan is a qualified non-contributory defined benefit plan, which is subject to the provisions of ERISA and the Puerto Rico tax code. Effective December 31, 2012, the CommoLoCo Retirement Plan was frozen. Puerto Rican residents employed by CommoLoCo, Inc., our Puerto Rican subsidiary, who had attained age 21 and completed one year of service, were eligible to participate in the plan. Our former employees in Puerto Rico will not lose any vested benefits in the CommoLoCo Retirement Plan that accrued prior to January 1, 2013. Unfunded Defined Benefit Plans We sponsor unfunded defined benefit plans for certain employees, including key executives, designed to supplement pension benefits provided by our other retirement plans. These include: (i) the Springleaf Financial Services Excess Retirement Income Plan (the “Excess Retirement Income Plan”), which provides a benefit equal to the reduction in benefits payable to certain employees under our qualified retirement plan as a result of federal tax limitations on compensation and benefits payable; and (ii) the Supplemental Executive Retirement Plan (“SERP”), which provides additional retirement benefits to designated executives. Benefits under the Excess Retirement Income Plan were frozen as of December 31, 2012, and benefits under the SERP were frozen at the end of August 2004. OBLIGATIONS AND FUNDED STATUS The following table presents the funded status of the defined benefit pension plans. The funded status of the plans is measured as the difference between the plan assets at fair value and the projected benefit obligation. (dollars in millions) At or for the Years Ended December 31, 2023 2022 2021 Projected benefit obligation, beginning of period $ 275 $ 374 $ 401 Interest cost 13 8 7 Actuarial loss (gain) (a) 5 (91) (18) Benefits paid: Plan assets (16) (16) (16) Projected benefit obligation, end of period (b) 277 275 374 Fair value of plan assets, beginning of period 278 383 405 Actual return on plan assets, net of expenses 20 (90) (7) Company contributions 1 1 1 Benefits paid: Plan assets (16) (16) (16) Fair value of plan assets, end of period (b) 283 278 383 Funded status, end of period $ 6 $ 3 $ 9 Net plan assets recognized in our consolidated balance sheets (b) $ 6 $ 3 $ 9 Pretax net gain (loss) recognized in accumulated other comprehensive income (loss) $ (9) $ (10) $ 2 (a) For the years ended December 31, 2023, 2022, and 2021, the actuarial gains or losses were primarily due to year-over-year fluctuations in discount rates used to calculate the present value of benefit obligations for the defined benefit plans. Adoption of updated mortality assumptions had additional impacts on calculation of gains or losses. (b) Includes one overfunded benefit plan with net plan assets recognized in Other assets in our consolidated balance sheets of $17 million, $14 million, and $22 million at December 31, 2023, 2022, and 2021, respectively, and three underfunded benefit plans with net projected benefit obligations recognized in Other liabilities in our consolidated balance sheets of $11 million, $11 million, and $13 million at December 31, 2023, 2022, and 2021, respectively. The following table presents the components of net periodic benefit cost recognized in income and other amounts recognized in Accumulated other comprehensive income or loss with respect to the defined benefit pension plans: (dollars in millions) Years Ended December 31, 2023 2022 2021 Components of net periodic benefit cost: Interest cost $ 13 $ 8 $ 7 Expected return on assets (15) (13) (12) Net periodic benefit cost (2) (5) (5) Other changes in plan assets and projected benefit obligation recognized in other comprehensive income or loss: Net actuarial loss — 12 1 Total recognized in other comprehensive income — 12 1 Total recognized in net periodic benefit cost and other comprehensive income $ (2) $ 7 $ (4) Assumptions The following table summarizes the weighted average assumptions used to determine the projected benefit obligations and the net periodic benefit costs: December 31, 2023 2022 Projected benefit obligation: Discount rate 4.76 % 4.96 % Net periodic benefit costs: Discount rate 4.96 % 2.67 % Expected long-term rate of return on plan assets 5.54 % 3.54 % Discount Rate Methodology The projected benefit cash flows were discounted using the spot rates derived from the unadjusted FTSE Pension Discount Curve at December 31, 2023 and 2022, and an equivalent weighted average discount rate was derived that resulted in the same liability. Investment Strategy The investment strategy with respect to assets relating to our pension plans is designed to achieve investment returns that will (i) provide for the benefit obligations of the plans over the long term; (ii) limit the risk of short-term funding shortfalls; and (iii) maintain liquidity sufficient to address cash needs. Accordingly, the asset allocation strategy is designed to maximize the investment rate of return while managing various risk factors, including but not limited to, volatility relative to the benefit obligations, diversification and concentration, and the risk and rewards profile indigenous to each asset class. Allocation of Plan Assets The long-term strategic asset allocation is reviewed and revised annually. The plans’ assets are monitored by our Retirement Plans Committee and the investment managers, which can entail allocating the plans’ assets among approved asset classes within pre-approved ranges permitted by the strategic allocation. At December 31, 2023, the actual asset allocation for the primary asset classes was 95% in fixed income securities and 5% in equity securities. The 2024 target asset allocation for the primary asset classes is 96% in fixed income securities and 4% in equity securities. The actual allocation may differ from the target allocation at any particular point in time. The expected long-term rate of return for the plans was 5.5% for the Springleaf Retirement Plan and 6.75% for the CommoLoCo Retirement Plan for 2023. The expected rate of return is an aggregation of expected returns within each asset class category. The expected asset return and any contributions made by the Company together are expected to maintain the plans’ ability to meet all required benefit obligations. The expected asset return with respect to each asset class was developed based on a building block approach that considers historical returns, current market conditions, asset volatility and the expectations for future market returns. While the assessment of the expected rate of return is long-term, and thus, not expected to change annually, significant changes in investment strategy or economic conditions may warrant such a change. Expected Cash Flows Funding for the U.S. pension plan ranges from the minimum amount required by ERISA to the maximum amount that would be deductible for U.S. tax purposes. This range is generally not determined until the fourth quarter. Contributed amounts in excess of the minimum amounts are deemed voluntary. Amounts in excess of the maximum amount would be subject to an excise tax and may not be deductible under the Internal Revenue Code. Supplemental and excess plans’ payments and postretirement plan payments are deductible when paid. The expected future benefit payments, net of participants’ contributions, of our defined benefit pension plans at December 31, 2023 are as follows: (dollars in millions) Expected Future Benefit Payments 2024 $ 18 2025 17 2026 18 2027 18 2028 18 2029-2033 91 FAIR VALUE MEASUREMENTS — PLAN ASSETS The inputs and methodology used in determining the fair value of the plan assets are consistent with those used to measure our assets. See Note 2 for a discussion of the accounting policies related to fair value measurements, which includes the valuation process and the inputs used to develop our fair value measurements. The following table presents information about our plan assets measured at fair value and indicates the fair value hierarchy based on the levels of inputs we utilized to determine such fair value: (dollars in millions) Level 1 Level 2 Level 3 Total December 31, 2023 Assets: Cash and cash equivalents $ 1 $ — $ — $ 1 Equity securities: U.S. (a) 1 — — 1 International (b) 1 — — 1 Fixed income securities: U.S. investment grade (c) 10 186 — 196 U.S. high yield (d) — 3 — 3 Total $ 13 $ 189 $ — $ 202 Investments measured at NAV (e) 81 Total investments at fair value $ 283 December 31, 2022 Assets: Cash and cash equivalents $ 3 $ — $ — $ 3 Equity securities: U.S. (a) 1 — — 1 International (b) 1 — — 1 Fixed income securities: U.S. investment grade (c) 16 192 — 208 U.S. high yield (d) — 3 — 3 Total $ 21 $ 195 $ — $ 216 Investments measured at NAV (e) 62 Total investments at fair value $ 278 (a) Includes mutual funds that track common market indexes such as the S&P 500, as well as other indexes comprised of investments in small and large cap companies. (b) Includes mutual funds that track common market indexes comprised of investments in companies in emerging and developed markets. (c) Includes mutual funds and collective investment trusts invested in U.S. and non-U.S. government issued bonds, U.S. government agency or sponsored agency bonds, and investment grade corporate bonds. (d) Includes mutual funds and collective investment trusts invested in securities or debt obligations that have a rating below investment grade. (e) We have elected the practical expedient to exclude certain investments that were measured at net asset value ("NAV") per share (or equivalent) from the fair value hierarchy. The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in these securities. Based on our investment strategy, we have no significant concentrations of risks.

Share-Based Compensation

Share-Based Compensation	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	16. Share-Based Compensation ONEMAIN HOLDINGS, INC. AMENDED 2013 OMNIBUS INCENTIVE PLAN In 2013, OMH adopted the OneMain Holdings, Inc. Amended 2013 Omnibus Incentive Plan (the “Omnibus Plan”). As of December 31, 2023, 11,422,479 shares of common stock were reserved for issuance under the Omnibus Plan. The amount of shares reserved is adjusted annually at the beginning of the year by a number of shares equal to the excess of 10% of the number of outstanding shares on the last day of the previous fiscal year over the number of shares reserved and available for issuance as of the last day of the previous fiscal year. The Omnibus Plan allows for issuance of stock options, RSUs, restricted stock awards, stock appreciation rights, and other stock-based awards and cash awards. Total share-based compensation expense, net of forfeitures, for all equity-based awards totaled $34 million, $29 million, and $22 million during 2023, 2022, and 2021, respectively. The total income tax benefit recognized for stock-based compensation was $9 million, $7 million, and $6 million in 2023, 2022, and 2021, respectively. As of December 31, 2023, there was total unrecognized compensation expense of $38 million related to unvested stock-based awards that are expected to be recognized over a weighted average period of approximately two years. Service-based Awards OMH has granted service-based RSUs to certain non-employee directors, executives, and employees. The RSUs are granted with varying service terms of one year to five years and do not provide the holders with any rights as shareholders, except with respect to dividend equivalents. The grant date fair value for RSUs is generally the closing market price of OMH’s common stock on the date of the award. Expense for service-based awards is amortized on a straight-line basis over the vesting period, based on the number of awards that are ultimately expected to vest. The weighted-average grant date fair value of service-based awards issued in 2023, 2022, and 2021, was $42.09, $50.43, and $55.39, respectively. The total fair value of service-based awards that vested during 2023, 2022, and 2021 was $21 million, $18 million, and $12 million, respectively. The following table summarizes the service-based stock activity and related information for the Omnibus Plan for 2023: Number of Weighted Weighted Unvested as of January 1, 2023 740,415 $ 51.43 Granted 676,288 42.09 Vested (436,822) 48.92 Forfeited (9,785) 45.79 Unvested at December 31, 2023 970,096 46.10 1.70 Performance-based Awards During 2023, 2022 and 2021, OMH awarded certain executives performance-based awards that may be earned based on the financial performance of OMH or the market performance of OMH’s common stock. These awards are subject to the achievement of performance goals during either a cumulative three-year period or up to a seven-year period. The awards are considered earned after the attainment of the performance goal, which can occur during or after the performance period when results have been evaluated and approved by the Compensation Committee, and vest according to their certain terms and conditions. The fair value for performance-based awards is typically based on the closing market price of OMH's stock on the date of the award. For performance-based awards with market conditions, the fair value is measured on the grant date using an option-pricing model. Expense for performance-based awards is typically recognized over the requisite service period when it is probable that the performance goals will be achieved and is based on the total number of units expected to vest. Expense for awards with graded vesting is recognized under the accelerated method, whereby each vesting is treated as a separate award with expense for each vesting recognized ratably over the requisite service period. If minimum targets are not achieved by the end of the respective performance periods, all unvested shares related to those targets will be forfeited and canceled, and all expense recognized to that date is reversed. Expense for performance-based awards with market conditions is recognized over the requisite service period, which represents the period over which the market condition is expected to be satisfied. The weighted average grant date fair value of performance-based awards issued in 2023, 2022, and 2021 was $44.69, $50.34, and $40.62, respectively. The total fair value of performance-based awards that vested was immaterial during 2023, 2022, and 2021. The following table summarizes the performance-based stock activity and related information for the Omnibus Plan for 2023: Number of Weighted Weighted Unvested as of January 1, 2023 917,746 $ 41.77 Granted 270,921 44.69 Vested (81,728) 42.59 Forfeited (51,960) 42.04 Unvested at December 31, 2023 1,054,979 42.44 1.69 OTHER STOCK-BASED PLANS Cash-settled Stock-based Awards OMH has granted cash-settled stock-based awards to certain executives. These awards are granted with vesting conditions relating to the trading price of OMH's common stock and the portion of OMH's common stock owned by stockholders other than the Apollo-Värde Group, and certain other terms and conditions. The awards provide for the right to accrue cash dividend equivalents. The grant date fair value of the cash-settled stock-based awards was zero because the satisfaction of the required event-based performance conditions was not considered probable as of the grant dates. No vesting conditions were satisfied during 2023 or 2022 related to these awards. During 2021, the vesting conditions related to a portion of the cash-settled stock-based awards were satisfied and we recognized $54 million in salaries and benefits expense. For the remaining unvested awards, the fair value was estimated using an option-pricing model on the date the required event-based performance condition was satisfied. The unvested cash-settled stock-based awards are liability-classified and expense is recognized over the requisite service period, which is the period of time the remaining vesting conditions are expected to be satisfied. Additional salaries and benefits expense related to unvested cash-settled stock-based awards was immaterial during 2023, 2022 and 2021. Employee Stock Purchase Plan

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Segment Information	17. Segment Information At December 31, 2023, 2022, and 2021, Consumer and Insurance (“C&I”) was 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, except as described below. We report the operating results of C&I and Other using the Segment Accounting Basis, which (i) reflects our allocation methodologies for interest expense and operating costs, and (ii) excludes the impact of applying purchase accounting. We allocate revenues and expenses on a Segment Accounting Basis to the C&I segment and Other using the following methodologies: Interest income Directly correlated to C&I segment and Other. Interest expense C&I and Other - The Company has secured and unsecured debt. The Company first allocates interest expense to its C&I segment based on actual expense for secured debt. Interest expense for unsecured debt is recorded to the C&I segment using a weighted average interest rate applied to allocated average unsecured debt. Total average unsecured debt is allocated as follows: l Other - at 100% of asset base. (Asset base represents the average net finance receivables including finance receivables held for sale); and l C&I - receives remainder of unallocated average debt. Provision for finance receivable losses Directly correlated to the C&I segment. Other revenues Directly correlated to the C&I segment and Other. Other expenses Salaries and benefits - Directly correlated to C&I segment and Other. Other salaries and benefits not directly correlated with the C&I segment and Other are allocated based on services provided. Other operating expenses - Directly correlated to the C&I segment and Other. Other operating expenses not directly correlated to the C&I segment and Other are allocated based on services provided. Insurance policy benefits and claims - Directly correlated to the C&I segment. The "Segment to GAAP Adjustment” column in the following tables primarily consists of: • Interest income - reverses the impact of premiums/discounts on certain purchased finance receivables and the interest income recognition under guidance in ASC 310-20, Nonrefundable Fees and Other Costs , and ASC 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality , prior to the adoption of ASU 2016-13 on January 1, 2020, and reestablishes interest income recognition on a historical cost basis; • Interest expense - reverses the impact of premiums/discounts on acquired long-term debt and reestablishes interest expense recognition on a historical cost basis; • Provision for finance receivable losses - reverses the impact of providing an allowance for finance receivable losses upon acquisition and reestablishes the allowance on a historical cost basis leveraging historical TDR finance receivables; • Other revenues - reestablishes the historical cost basis of mark-to-market adjustments on finance receivables held for sale and on realized gains/losses associated with our investment portfolio; • Other expenses - reestablishes expenses on a historical cost basis by reversing the impact of amortization from acquired intangible assets, including amortization of other historical deferred costs and the amortization of purchased software assets on a historical cost basis; and • Assets - revalues assets based on their fair values at the effective date of the acquisition. Assets were adjusted to present the impacts of deferred taxes associated with the acquisition on a net basis at December 31, 2023. The following tables present information about C&I and Other, as well as reconciliations to the consolidated financial statement amounts. (dollars in millions) Consumer Other Segment to Consolidated At or for the Year Ended December 31, 2023 Interest income $ 4,559 $ 4 $ 1 $ 4,564 Interest expense 1,015 2 2 1,019 Provision for finance receivable losses 1,721 — — 1,721 Net interest income after provision for finance receivable losses 1,823 2 (1) 1,824 Other revenues 727 8 — 735 Other expenses 1,705 16 (2) 1,719 Income (loss) before income tax expense (benefit) $ 845 $ (6) $ 1 $ 840 Assets $ 23,056 $ 20 $ 1,218 $ 24,294 At or for the Year Ended December 31, 2022 Interest income $ 4,429 $ 5 $ 1 $ 4,435 Interest expense 886 3 3 892 Provision for finance receivable losses 1,399 — 3 1,402 Net interest income after provision for finance receivable losses 2,144 2 (5) 2,141 Other revenues 618 12 (1) 629 Other expenses 1,593 14 8 1,615 Income (loss) before income tax expense (benefit) $ 1,169 $ — $ (14) $ 1,155 Assets $ 20,491 $ 35 $ 2,011 $ 22,537 At or for the Year Ended December 31, 2021 Interest income $ 4,355 $ 5 $ 4 $ 4,364 Interest expense 930 3 4 937 Provision for finance receivables losses 587 — 6 593 Net interest income after provision for finance receivable losses 2,838 2 (6) 2,834 Other revenues 527 12 (8) 531 Other expenses 1,577 21 26 1,624 Income (loss) before income tax expense (benefit) $ 1,788 $ (7) $ (40) $ 1,741 Assets $ 20,035 $ 40 $ 2,020 $ 22,095

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	18. Fair Value Measurements The fair value of a financial instrument is the expected amount that would be received if an asset were to be sold or the expected amount that would be paid to transfer a liability in an orderly transaction between market participants at the measurement date. The degree of judgment used in measuring the fair value of financial instruments generally correlates with the level of pricing observability. Financial instruments with quoted prices in active markets generally have more pricing observability and less judgment is used in measuring fair value. Conversely, financial instruments traded in other-than-active markets or that do not have quoted prices have less observability and are measured at fair value using valuation models or other pricing techniques that require more judgment. An other-than-active market is one in which there are few transactions, the prices are not current, price quotations vary substantially either over time or among market makers, or little information is released publicly for the asset or liability being valued. Pricing observability is affected by a number of factors, including the type of financial instrument, whether the financial instrument is listed on an exchange, traded over-the-counter, or is new to the market and not yet established, the characteristics specific to the transaction, and general market conditions. See Note 2 for a discussion of the accounting policies related to fair value measurements, which includes the valuation process and the inputs used to develop our fair value measurements. 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 December 31, 2023 Assets Cash and cash equivalents $ 1,014 $ — $ — $ 1,014 $ 1,014 Investment securities 54 1,662 3 1,719 1,719 Net finance receivables, less allowance for finance receivable losses — — 20,490 20,490 18,869 Restricted cash and restricted cash equivalents 534 — — 534 534 Other assets * — — 40 40 29 Liabilities Long-term debt $ — $ 19,457 $ — $ 19,457 $ 19,813 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 December 31, 2023 and 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 December 31, 2023 Assets Cash equivalents in mutual funds $ 97 $ — $ — $ 97 Investment securities: Available-for-sale securities U.S. government and government sponsored entities — 17 — 17 Obligations of states, municipalities, and political subdivisions — 66 — 66 Commercial paper — 14 — 14 Non-U.S. government and government sponsored entities — 167 — 167 Corporate debt 6 1,078 1 1,085 RMBS — 180 — 180 CMBS — 33 — 33 CDO/ABS — 85 — 85 Total available-for-sale securities 6 1,640 1 1,647 Other securities Bonds: Corporate debt — 4 — 4 CDO/ABS — 18 — 18 Total bonds — 22 — 22 Preferred stock 16 — — 16 Common stock 32 — 2 34 Total other securities 48 22 2 72 Total investment securities 54 1,662 3 1,719 Restricted cash equivalents in mutual funds 525 — — 525 Total $ 676 $ 1,662 $ 3 $ 2,341 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 years ended December 31, 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 years ended December 31, 2023 and 2022. FAIR VALUE MEASUREMENTS — VALUATION METHODOLOGIES AND ASSUMPTIONS

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net income	$ 641	$ 872	$ 1,314

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 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

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	BASIS OF PRESENTATION We prepared our consolidated financial statements using generally accepted accounting principles in the United States of America ("GAAP"). The statements include the accounts of OMH, its wholly owned subsidiarie s , 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 consolidated financial statements and disclosures of contingent assets and liabilities. In management’s opinion, the consolidated financial statements include the normal, recurring adjustments necessary for a fair statement of results. Ultimate results could differ from our estimates. We evaluated the effects of and the need to disclose events that occurred subsequent to the balance sheet date. To conform to the 2023 presentation, we reclassified certain items in prior periods of our consolidated financial statements.
Operating Segment	Operating Segment At December 31, 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.
Finance Receivables and Finance Receivable Revenue Recognition	Finance Receivables Generally, we classify finance receivables as held for investment based on management’s intent at the time of origination. We determine classification on a receivable-by-receivable basis. We classify finance receivables as held for investment due to our ability and intent to hold them until their contractual maturities. Our finance receivables held for investment consist of our personal loans and credit cards. We carry finance receivables at amortized cost which includes accrued finance charges, net unamortized deferred origination costs and unamortized fees, unamortized net premiums and discounts on purchased finance receivables, and unamortized finance charges on precomputed receivables. We include the cash flows from finance receivables held for investment in our consolidated statements of cash flows as investing activities, except for collections of interest, which we include as cash flows from operating activities. We may finance certain optional products offered to our customers as part of finance receivables. In such cases, the insurance premium is included as an operating cash inflow and the financing of the insurance premium is included as part of the finance receivable as an investing cash flow in our consolidated statements of cash flows. Finance Receivable Revenue Recognition We recognize finance charges as revenue on the accrual basis using the interest method, which we report in Interest income in our consolidated statements of operations. We defer and amortize the costs to originate certain finance receivables and the revenue from nonrefundable fees, along with any premiums or discounts, as an adjustment to finance charge income using the interest method. For credit cards, we amortize certain deferred costs on a straight-line basis over a twelve-month period. For our personal loans, we stop accruing finance charges when four payments (approximately 90 days) become contractually past due. We reverse finance charge amounts previously accrue d upon suspension of accrual of finance charges. For credit cards, we continue to accrue finance charges and fees until charge-off when seven payments (approximately 180 days) become contractually past due, at which point we reverse finance charges and fees previously accrued. For certain finance receivables that had a carrying value that included a purchase premium or discount, we stop accreting the premium or discount at the time we stop accruing finance charges. We do not reverse accretion of premium or discount that was previously recognized. For our personal loans, we recognize the contractual interest portion of payments received on nonaccrual finance receivables as finance charges at the time of receipt. We resume the accrual of interest on nonaccrual personal loans when the past due status on the individual finance receivable improves to the point that the finance receivable no longer meets our policy for nonaccrual. At that time, we also resume accretion of any unamortized premium or discount resulting from a previous purchase premium or discount.
Modified Finance Receivables to Borrowers Experiencing Financial Difficulty	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. Accounts 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	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 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) contractually 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 contractually 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) contractually past due and may charge-off prior to the account becoming seven payments (approximately 180 days) contractually 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.
Goodwill	Goodwill Goodwill represents the amount of purchase price over the fair value of net assets we acquired in connection with business combinations. We test goodwill for potential impairment at least annually as of October 1 of each year and more frequently if events occur or circumstances change that would more likely than not reduce the fair value of our reporting unit below its carrying amount. We first complete a qualitative assessment to determine whether it is necessary to perform a quantitative impairment test. If the qualitative assessment indicates that it is more likely than not that the reporting unit’s fair value is less than its carrying amount, we proceed with the quantitative impairment test. When necessary, the fair value of the reporting unit is calculated utilizing the income approach, which uses prospective financial information of the reporting unit discounted at a rate we estimate a market participant would use.
Intangible Assets other than Goodwill	Intangible Assets other than Goodwill At the time we initially recognize intangible assets, a determination is made with regard to each asset’s useful life. We have determined that each of our remaining intangible assets have indefinite lives with the exception of value of business acquired (“VOBA”), which has a finite useful life. We amortize our finite useful life intangible assets in a manner that reflects the pattern of economic benefit used. For intangible assets with a finite useful life, we review for impairment when events or changes in circumstances indicate that their carrying amounts may not be recoverable. Impairment is indicated if the sum of undiscounted estimated future cash flows is less than the carrying value of the respective asset. Impairment is permanently recognized by writing down the asset to the extent that the carrying value exceeds the estimated fair value. For indefinite-lived intangible assets, we review for impairment at least annually and more frequently if events or changes in circumstances indicate the assets are more likely than not to be impaired. We first complete a qualitative assessment to determine whether it is necessary to perform a quantitative impairment test. If the qualitative assessment indicates that the assets are more likely than not to have been impaired, we proceed with the fair value calculation of the assets. The fair value is determined in accordance with our fair value measurement policy. If the carrying value exceeds the estimated fair value, an impairment loss will be recognized in an amount equal to the difference and the indefinite life classification will be evaluated to determine whether such classification remains appropriate.
Leases	Leases All our leases are classified as operating leases, and we are the lessee or sublessor in all our lease arrangements. At inception of an arrangement, we determine if a lease exists. At lease commencement date, we recognize a right-of-use asset and a lease liability measured at the present value of lease payments over the lease term. Right-of-use assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Since our operating leases do not provide an implicit rate, we utilize the best available information to determine our incremental borrowing rate, which is used to calculate the present value of lease payments. The right-of-use asset also includes any prepaid fixed lease payments and excludes lease incentives. Options to extend or terminate a lease may be included in our lease arrangements. We reflect the renewal or termination option in the right-of-use asset and lease liability when it is reasonably certain that we will exercise those options. In the normal course of business, we will renew leases that expire or replace them with leases on other properties. We have elected the practical expedient to treat both the lease component and non-lease component for our leased office space portfolio as a single lease component. Operating lease costs for lease payments are recognized on a straight-line basis over the lease term and are included in Other operating expenses in our consolidated statements of operations. In addition to rent, we pay taxes, insurance, and maintenance expenses under certain leases as variable lease payments. The lease right-of-use assets are included in Other assets Other liabilities
Insurance Premiums	Insurance Premiums We recognize revenue for short-duration contracts over the related contract period. Short-duration contracts primarily consist of credit life, credit disability, credit involuntary unemployment insurance, and collateral protection policies. We defer single premium credit insurance premiums from affiliates in unearned premium reserves, which we include as a reduction to Net finance receivables in our consolidated balance sheets. We recognize unearned premiums on credit life, credit disability, credit involuntary unemployment insurance, and collateral protection insurance as revenue using the sum-of-the-digits, straight-line or other appropriate methods over the terms of the policies. Premiums from reinsurance assumed are earned over the related contract period. We recognize revenue on long-duration contracts when due from policyholders. Long-duration contracts include term and whole life, accidental death and dismemberment, and disability income protection. For single premium long-duration contracts, a liability is accrued, which represents the present value of estimated future policy benefits to be paid to or on behalf of policyholders and related expenses, when premium revenue is recognized. The effects of changes in such estimated future policy benefit reserves are classified in Insurance policy benefits and claims in our consolidated statements of operations. We recognize commissions on optional products as Other revenues - other in our consolidated statements of operations when earned. We may finance certain optional products offered to our customers as part of finance receivables. In such cases, unearned premiums and certain unpaid claim liabilities related to our borrowers are netted and classified as contra-assets in Net finance receivables in our consolidated balance sheets. The insurance premium is included as an operating cash inflow and the financing of the insurance premium is included as part of the finance receivable as an investing cash flow in our consolidated statements of cash flows.
Policy and Claim Reserves	Policy and Claim Reserves Policy reserves for credit life, credit disability, credit involuntary unemployment, and collateral protection insurance equal related unearned premiums. Reserves for losses and loss adjustment expenses are based on claims experience, actual claims reported, and estimates of claims incurred but not reported. Assumptions utilized in determining appropriate reserves are based on historical experience, adjusted to provide for possible adverse deviation. These estimates are periodically reviewed and compared with actual experience and industry standards, and revised if it is determined that future experience will differ substantially from that previously assumed. Since reserves are based on estimates, the ultimate liability may be more or less than such reserves. The effects of changes in such estimated reserves are classified in Insurance policy benefits and claims in our consolidated statements of operations in the period in which the estimates are changed. We base annuity reserves on assumptions as to investment yields and mortality. Ceded insurance reserves are included in Other assets in our consolidated balance sheets and include estimates of the amounts expected to be recovered from reinsurers on insurance claims and policyholder liabilities. 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.
Insurance Policy Acquisition Costs	Insurance Policy Acquisition Costs We defer insurance policy acquisition costs (primarily commissions, reinsurance fees, and premium taxes). We include deferred policy acquisition costs in Other assets in our consolidated balance sheets and amortize these costs over the terms of the related policies, whether directly written or reinsured.
Investment Securities	Investment Securities We generally classify our investment securities as available-for-sale or other, depending on management’s intent. Other securities primarily consist of equity securities and those securities for which the fair value option was elected. Our investment securities classified as available-for-sale are recorded at fair value. We adjust related balance sheet accounts to reflect the current fair value of investment securities and record the adjustment, net of tax, in Accumulated other comprehensive income or loss in shareholders’ equity. We record interest receivable on investment securities in Other assets in our consolidated balance sheets. We classify our investment securities in the fair value hierarchy framework based on the observability of inputs. Inputs to the valuation techniques are described as being either observable (Level 1 or 2) or unobservable (Level 3) assumptions (as further described in “Fair Value Measurements” below) that market participants would use in pricing an asset or liability.
Impairments on Investment Securities	Impairments on Investment Securities We evaluate our available-for-sale securities on an individual basis to identify any instances where the fair value of the investment security is below its amortized cost. For these securities, we then evaluate whether an impairment exists if any of the following conditions are present: • we intend to sell the security; • it is more likely than not that we will be required to sell the security before recovery of its amortized cost basis; or • we do not expect to recover the security’s entire amortized cost basis (even if we do not intend to sell the security). If we intend to sell an impaired investment security or we will likely be required to sell the security before recovery of its amortized cost basis less any current period credit loss, we recognize the impairment as a direct write-down in Other revenues - investment in our consolidated statements of operation equal to the difference between the investment security’s amortized cost and its fair value at the balance sheet date. Once the impairment is recorded, we adjust the investment security to a new amortized cost basis equal to the previous amortized cost basis less the impairment write-down recognized in the current period. In determining whether a credit loss exists, we compare our best estimate of the present value of the cash flows expected to be collected from the security to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis of the security, a credit loss exists and an allowance for credit losses is recorded, not to exceed the total unrealized loss on the security. The cash flows expected to be collected are determined by assessing all available information, including issuer default rate, ratings changes and adverse conditions related to the industry sector, financial condition of issuer, credit enhancements, collateral default rates, and other relevant criteria. Management considers factors such as our investment strategy, liquidity requirements, overall business plans, and recovery periods for securities in previous periods of broad market declines. If a credit loss exists with respect to an investment in a security (i.e., we do not expect to recover the entire amortized cost basis of the security), we would be unable to assert that we will recover our amortized cost basis even if we do not intend to sell the security. Therefore, in these situations, a credit impairment is considered to have occurred. If a credit impairment exists, but we do not intend to sell the security and we will likely not be required to sell the security before recovery of its amortized cost basis less any current period credit loss, the impairment is bifurcated as: (i) the estimated amount relating to credit loss; and (ii) the amount relating to non-credit related factors. We recognize the estimated credit loss as an allowance on the balance sheet in investment securities, with a corresponding loss in Other revenues - investment, and the non-credit loss amount in Accumulated other comprehensive income or loss. For investment securities in which a credit impairment was recorded through an allowance, we record subsequent increases and decreases in the allowance for credit losses as credit loss expense or reversal of credit loss expense in Other revenues -investment. We will not reverse a previously recorded allowance to an amount below zero. We recognize subsequent increases and decreases in the fair value of our available-for-sale securities from non-credit related factors in Accumulated other comprehensive income or loss.
Investment Revenue Recognition	Investment Revenue Recognition We recognize interest on interest bearing fixed-maturity investment securities as revenue on the accrual basis. We amortize any premiums or accrete any discounts as a revenue adjustment using the interest method. We stop accruing interest revenue when the collection of interest becomes uncertain. We record dividends on equity securities as revenue on ex-dividend dates. We recognize income on mortgage-backed and asset-backed securities as revenue using an effective yield based on estimated prepayments of the underlying collateral. If actual prepayments differ from estimated prepayments, we calculate a new effective yield and adjust the net investment in the security accordingly. We record the adjustment, along with all investment securities revenue, in Other revenues - investment in our consolidated statements of operations. We specifically identify realized gains and losses on investment securities and include them in Other revenues - investment in our consolidated statements of operations.
Variable Interest Entities	Variable Interest Entities An entity is a VIE if the entity does not have sufficient equity at risk for the entity to finance its activities without additional financial support or has equity investors who lack the characteristics of a controlling financial interest. A VIE is consolidated into the financial statements of its primary beneficiary. When we have a variable interest in a VIE, we qualitatively assess whether we have a controlling financial interest in the entity and, if so, whether we are the primary beneficiary. In applying the qualitative assessment to identify the primary beneficiary of a VIE, we are determined to have a controlling financial interest if we have (i) the power to direct the activities that most significantly impact the economic performance of the VIE, and (ii) the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. We consider the VIE’s purpose and design, including the risks that the entity was designed to create and pass through to its variable interest holders. We continually reassess the VIE’s primary beneficiary and whether we have acquired or divested the power to direct the activities of the VIE through changes in governing documents or other circumstances.
Cash and Cash Equivalents	Cash and Cash Equivalents We consider unrestricted cash on hand and short-term investments having maturity dates within three months of their date of acquisition to be cash and cash equivalents. We typically maintain cash in financial institutions in excess of the Federal Deposit Insurance Corporation’s insurance limits. We evaluate the creditworthiness of these financial institutions in determining the risk associated with these cash balances. We do not believe that the Company is exposed to any significant credit risk on these accounts and have not experienced any losses in such accounts.
Restricted Cash and Cash Equivalents	Restricted Cash and Cash Equivalents We include funds to be used for future debt payments and collateral relating to our secured debt, insurance regulatory deposits, and reinsurance trusts with third parties, in each case, in restricted cash and cash equivalents.
Long-term Debt	Long-term Debt We generally report our long-term debt issuances at the face value of the debt instrument, which we adjust for any unaccreted discount, unamortized premium, or unamortized debt issuance costs associated with the debt. Other than securitized products, we generally accrete discounts, premiums, and debt issuance costs over the contractual life of the security using contractual payment terms. With respect to securitized products, we have elected to amortize deferred costs over the contractual life of the security. Accretion of discounts and premiums are recorded to Interest expense in our consolidated statements of operations.
Income Taxes	Income Taxes We recognize income taxes using the asset and liability method. We establish deferred tax assets and liabilities for temporary differences between the financial reporting basis and the tax basis of assets and liabilities, using the tax rates expected to be in effect when the temporary differences reverse. Deferred tax assets are also recognized for tax attributes such as net operating loss carryforwards. Realization of our gross deferred tax asset depends on our ability to generate sufficient taxable income of the appropriate character within the carryforward periods of the jurisdictions in which the net operating and capital losses, deductible temporary differences and credits were generated. When we assess our ability to realize deferred tax assets, we consider all available evidence and we record valuation allowances to reduce deferred tax assets to the amounts that management conclude are more-likely-than-not to be realized. We recognize income tax benefits associated with uncertain tax positions, when, in our judgment, it is more likely than not that the position will be sustained upon examination by a taxing authority. For a tax position that meets the more likely than not recognition threshold, we initially and subsequently measure the tax benefit as the largest amount that we judge to have a greater than 50% likelihood of being realized upon ultimate settlement with the taxing authority.
Retirement Benefit Plans	Retirement Benefit Plans We have funded and unfunded noncontributory defined pension plans. We recognize the net pension asset or liability, also referred to herein as the funded status of the benefit plan, in Other assets or Other liabilities in our consolidated balance sheets, depending on the funded status at the end of each reporting period. We recognize the net actuarial gains or losses and prior service cost or credit that arise during the period in Accumulated other comprehensive income or loss. Many of our employees are participants in our 401(k) Plan. Our contributions to the plan are charged to Salaries and benefits in our consolidated statements of operations.
Share-based Compensation Plans	Share-based Compensation Plans We measure compensation cost for service-based and performance-based awards at estimated fair value and recognize compensation expense over the requisite service period for awards expected to vest. The estimation of awards that will ultimately vest requires judgment, and to the extent actual results or updated estimates differ from current estimates, such amounts will be recorded as a cumulative adjustment to Salaries and benefits in our consolidated statements of operations in the period estimates are revised. For service-based awards subject to graded vesting, expense is recognized under the straight-line method. Expense for performance-based awards with graded vesting is recognized under the accelerated method, whereby each vesting is treated as a separate award with expense for each vesting recognized ratably over the requisite service period.
Fair Value Measurements	Fair Value Measurements Management is responsible for the determination of the fair value of our financial assets and financial liabilities and the supporting methodologies and assumptions. We employ widely accepted internal valuation models or utilize third-party valuation service providers to gather, analyze, and interpret market information and derive fair values based upon relevant methodologies and assumptions for individual instruments or pools of finance receivables. When our valuation service providers are unable to obtain sufficient market observable information upon which to estimate the fair value for a particular security, we determine fair value either by requesting brokers who are knowledgeable about these securities to provide a quote, which is generally non-binding, or by employing widely accepted internal valuation models. Our valuation process typically requires obtaining data about market transactions and other key valuation model inputs from internal or external sources and, through the use of widely accepted valuation models, provides a single fair value measurement for individual securities or pools of finance receivables. The inputs used in this process include, but are not limited to, market prices from recently completed transactions and transactions of comparable securities, interest rate yield curves, credit spreads, bid-ask spreads, currency rates, and other market-observable information as of the measurement date, as well as the specific attributes of the security being valued, including its term, interest rate, credit rating, industry sector, and other issue or issuer-specific information. When market transactions or other market observable data is limited, the extent to which judgment is applied in determining fair value is greatly increased. We assess the reasonableness of individual security values received from our valuation service providers through various analytical techniques. As part of our internal price reviews, assets that fall outside a price change tolerance are sent to our third-party investment manager for further review. In addition, we may validate the reasonableness of fair values by comparing information obtained from our valuation service providers to other third-party valuation sources for selected securities. We measure and classify assets and liabilities in our consolidated balance sheets in a hierarchy for disclosure purposes consisting of three “Levels” based on the observability of inputs available in the marketplace used to measure the fair values. In general, we determine the fair value measurements classified as Level 1 based on inputs utilizing quoted prices in active markets for identical assets or liabilities that we have the ability to access. We generally obtain market price data from exchange or dealer markets. We do not adjust the quoted price for such instruments. We determine the fair value measurements classified as Level 2 based on inputs utilizing other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets and liabilities in active markets, and inputs other than quoted prices that are observable for the asset or liability, such as interest rates and yield curves that are observable at commonly quoted intervals. Level 3 inputs are unobservable inputs for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability. The use of observable and unobservable inputs is further discussed in Note 18. In certain cases, the inputs we use to measure the fair value of an asset may fall into different levels of the fair value hierarchy. In such cases, we determine the level in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement in its entirety. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. Our fair value processes include controls that are designed to ensure that fair values are appropriate. Such controls include model validation, review of key model inputs, analysis of period-over-period fluctuations, and reviews by senior management.
Earnings Per Share (OMH Only)	Earnings Per Share (OMH Only) Basic earnings per share is computed by dividing net income or loss by the weighted-average number of shares outstanding during each period. Diluted earnings per share is computed based on the weighted-average number of common shares plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares represent outstanding unvested restricted stock units and awards.
ACCOUNTING PRONUNCEMENTS RECENTLY ADOPTED	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 Accumulated 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 Note 2 for the updated significant accounting policy as of the transition date of January 1, 2021. 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 Note 2 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 TDR finance receivables is no longer applicable for periods beginning on or after January 1, 2023. ACCOUNTING PRONOUNCEMENTS TO BE ADOPTED Segment Reporting In November of 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which requires annual and interim disclosure of significant segment expenses and other segment items. The amendments in this ASU will become effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The amendments should be applied on a retrospective basis to all prior periods presented in the financial statements. We are currently evaluating the impact of the standard on our segment disclosures. Income Taxes In December of 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires disaggregated information in the rate reconciliation and income taxes paid disclosures. The amendments in this ASU will become effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The amendments should be applied on a prospective basis, with retrospective application allowed. We are currently evaluating the impact of the standard on our income tax disclosures. We do not believe that any accounting pronouncements issued, but not yet effective, would have a material impact on our consolidated financial statements or disclosures, if adopted.

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Tables)	12 Months Ended
	Dec. 31, 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 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 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 consolidated statements of operations were as follows: (dollars in millions, except per share amounts) As Reported ASU 2018-12 Adjustment As Recast Year Ended December 31, 2022 Insurance policy benefits and claims $ 150 $ 8 $ 158 Income before income taxes 1,163 (8) 1,155 Income taxes 285 (2) 283 Net income 878 (6) 872 Basic EPS (OMH only) 7.07 (0.05) 7.02 Diluted EPS (OMH only) 7.06 (0.05) 7.01 Year Ended December 31, 2021 Basic EPS (OMH only) $ 9.90 $ 0.01 $ 9.91 Diluted EPS (OMH only) 9.87 0.01 9.88 The effects of the adoption of ASU 2018-12 to our consolidated statements of comprehensive income were as follows: (dollars in millions) As Reported ASU 2018-12 Adjustment As Recast Year Ended December 31, 2022 Comprehensive income $ 698 $ 42 $ 740 Year Ended December 31, 2021 Comprehensive income $ 1,281 $ 20 $ 1,301 The effects of the adoption of ASU 2018-12 to our consolidated statements of cash flows were as follows: (dollars in millions) As Reported ASU 2018-12 Adjustment As Recast Year Ended December 31, 2022 Net income $ 878 $ (6) $ 872 Deferred income tax charge (62) (2) (64) Cash flows due to changes in other assets and other liabilities (OMH only) (90) 8 (82) Cash flows due to changes in other assets and other liabilities (OMFC only) (89) 8 (81)

Finance Receivables (Tables)

Finance Receivables (Tables)	12 Months Ended
	Dec. 31, 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 December 31, 2023 Gross finance receivables * $ 20,721 $ 322 $ 21,043 Unearned fees (236) — (236) Accrued finance charges and fees 333 — 333 Deferred origination costs 201 8 209 Total $ 21,019 $ 330 $ 21,349 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
Schedules of Geographic Diversification	Geographic diversification of finance receivables reduces the concentration of credit risk associated with economic stresses in any one region. The largest concentrations of net finance receivables were as follows: December 31, 2023 2022 (a) (dollars in millions) Amount Percent Amount Percent Personal Loans: Texas $ 2,015 10 % $ 1,954 10 % Florida 1,609 8 1,446 7 California 1,527 7 1,391 7 Pennsylvania 1,317 6 1,249 6 North Carolina 1,072 5 1,110 6 Ohio 1,006 5 963 5 New York 879 4 749 4 Georgia 843 4 792 4 Illinois 826 4 777 4 Indiana 740 4 726 4 Other 9,185 43 8,722 43 Total personal loans $ 21,019 100 % $ 19,879 100 % Credit Cards: California $ 50 15 % $ 26 24 % Texas 46 14 15 14 Florida 38 11 8 8 Pennsylvania 18 5 4 4 Ohio 15 5 3 3 Georgia 15 5 3 3 Illinois 15 5 3 3 Other 133 40 45 41 Total credit cards $ 330 100 % $ 107 100 % (a) December 31, 2022 concentrations of net finance receivables are presented in the order of December 31, 2023 state concentrations.
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 December 31, 2023 Performing Current $ 10,239 $ 5,730 $ 2,488 $ 778 $ 376 $ 114 $ 19,725 30-59 days past due 117 159 90 27 16 7 416 60-89 days past due 76 107 59 17 10 4 273 Total performing 10,432 5,996 2,637 822 402 125 20,414 Nonperforming (Nonaccrual) 90+ days past due 128 264 144 40 21 8 605 Total $ 10,560 $ 6,260 $ 2,781 $ 862 $ 423 $ 133 $ 21,019 Gross charge-offs $ 65 $ 749 $ 630 $ 183 $ 101 $ 40 $ 1,768 (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) December 31, 2023 2022 Current $ 297 $ 93 30-59 days past due 9 3 60-89 days past due 7 3 90+ days past due 17 8 Total $ 330 $ 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) Year Ended Interest rate reduction and term extension $ 457 Interest rate reduction and principal forgiveness 331 Total modifications to borrowers experiencing financial difficulties $ 788 Modifications as a percent of net finance receivables - personal loans 3.75 % The financial effect of modifications made during the period were as follows: (dollars in millions) Year Ended Weighted-average interest rate reduction 19.48 % Weighted-average term extension (months) 25 Principal/interest forgiveness $ 44 The performance of modified finance receivables by delinquency status was as follows: (dollars in millions) December 31, 2023 Current $ 575 30-59 days past due 64 60-89 days past due 48 90+ days past due 101 Total* $ 788 * Excludes $89 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 contractually past due) were as follows: (dollars in millions) Year Ended Interest rate reduction and term extension $ 56 Interest rate reduction and principal forgiveness 20 Total $ 76
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) December 31, 2022 2021 Pre-modification TDR net finance receivables $ 738 $ 453 Post-modification TDR net finance receivables: Rate reduction 465 310 Other * 273 143 Total post-modification TDR net finance receivables $ 738 $ 453 Number of TDR accounts 88,901 55,229 * “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 contractually past due) are reflected in the following table: (dollars in millions) December 31, 2022 2021 TDR net finance receivables * $ 136 $ 117 Number of TDR accounts 17,297 16,046 * 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)	12 Months Ended
	Dec. 31, 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 Year Ended December 31, 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 1,651 70 1,721 Charge-offs (1,768) (27) (1,795) Recoveries 258 1 259 Balance at end of period $ 2,415 $ 65 $ 2,480 Year Ended December 31, 2022 Balance at beginning of period $ 2,090 $ 5 $ 2,095 Provision for finance receivable losses 1,379 23 1,402 Charge-offs (1,431) (7) (1,438) Recoveries 252 — 252 Balance at end of period $ 2,290 $ 21 $ 2,311 Year Ended December 31, 2021 Balance at beginning of period $ 2,269 $ — $ 2,269 Provision for finance receivable losses 588 5 593 Charge-offs (989) — (989) Recoveries 222 — 222 Balance at end of period $ 2,090 $ 5 $ 2,095 * 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 3 and 4 for additional information on the adoption of ASU 2022-02.

Investment Securities (Tables)

Investment Securities (Tables)	12 Months Ended
	Dec. 31, 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 December 31, 2023* Fixed maturity available-for-sale securities: U.S. government and government sponsored entities $ 18 $ — $ (1) $ 17 Obligations of states, municipalities, and political subdivisions 72 — (6) 66 Commercial paper 14 — — 14 Non-U.S. government and government sponsored entities 172 1 (6) 167 Corporate debt 1,160 4 (79) 1,085 Mortgage-backed, asset-backed, and collateralized: RMBS 202 — (22) 180 CMBS 36 — (3) 33 CDO/ABS 91 — (6) 85 Total $ 1,765 $ 5 $ (123) $ 1,647 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 December 31, 2023 and 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 Losses * Fair Unrealized Fair Unrealized December 31, 2023 U.S. government and government sponsored entities $ 1 $ — $ 11 $ (1) $ 12 $ (1) Obligations of states, municipalities, and political subdivisions 2 — 62 (6) 64 (6) Commercial paper 14 — — — 14 — Non-U.S. government and government sponsored entities 22 — 97 (6) 119 (6) Corporate debt 15 — 925 (79) 940 (79) Mortgage-backed, asset-backed, and collateralized: RMBS 5 — 152 (22) 157 (22) CMBS 2 — 32 (3) 34 (3) CDO/ABS 1 — 62 (6) 63 (6) Total $ 62 $ — $ 1,341 $ (123) $ 1,403 $ (123) 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) * Unrealized losses on certain available-for-sale securities were less than $1 million and, therefore, were not quantified in the table above.
Schedule of contractual maturities of fixed-maturity available-for-sale securities	Contractual maturities of fixed-maturity available-for-sale securities at December 31, 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 $ 160 $ 161 Due after 1 year through 5 years 572 593 Due after 5 years through 10 years 499 548 Due after 10 years 118 134 Mortgage-backed, asset-backed, and collateralized securities 298 329 Total $ 1,647 $ 1,765
Schedule of fair value of other securities by type	The fair value of other securities by type was as follows: (dollars in millions) December 31, 2023 December 31, 2022 Fixed maturity other securities: Bonds $ 22 $ 23 Preferred stock 16 15 Common stock 34 33 Total $ 72 $ 71

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Gross carrying amount and accumulated amortization of finite-lived intangible assets	The gross carrying amount and accumulated amortization, in total and by major intangible asset class were as follows: (dollars in millions) Gross Carrying Amount Accumulated Amortization Net Other Intangible Assets December 31, 2023 Trade names $ 220 $ — $ 220 Licenses 25 — 25 VOBA 105 (91) 14 Other 1 — 1 Total $ 351 $ (91) $ 260 December 31, 2022 Trade names $ 220 $ — $ 220 Licenses 25 — 25 VOBA 105 (90) 15 Other 1 — 1 Total $ 351 $ (90) $ 261
Gross carrying amount of indefinite-lived intangible assets	The gross carrying amount and accumulated amortization, in total and by major intangible asset class were as follows: (dollars in millions) Gross Carrying Amount Accumulated Amortization Net Other Intangible Assets December 31, 2023 Trade names $ 220 $ — $ 220 Licenses 25 — 25 VOBA 105 (91) 14 Other 1 — 1 Total $ 351 $ (91) $ 260 December 31, 2022 Trade names $ 220 $ — $ 220 Licenses 25 — 25 VOBA 105 (90) 15 Other 1 — 1 Total $ 351 $ (90) $ 261

Long-term Debt (Tables)

Long-term Debt (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Carrying value and fair value of long-term debt by type were as follows: December 31, 2023 December 31, 2022 (dollars in millions) Carrying Fair Carrying Fair Senior debt $ 19,641 $ 19,273 $ 18,109 $ 16,782 Junior subordinated debt 172 184 172 187 Total $ 19,813 $ 19,457 $ 18,281 $ 16,969 Weighted average effective interest rates on long-term debt by type were as follows: Years Ended December 31, At December 31, 2023 2022 2021 2023 2022 Senior debt 5.26 % 4.97 % 5.38 % 5.47 % 5.06 % Junior subordinated debt 14.53 7.42 4.02 15.12 11.91 Total 5.34 4.99 5.37 5.55 5.12
Schedule of principal maturities of long-term debt	Principal maturities of long-term debt by type of debt at December 31, 2023 were as follows: Senior Debt (dollars in millions) Securitizations Private Secured Term Funding Revolving Unsecured Notes (a) Junior Total Interest rates (b) 0.87%-7.52% 6.45 % 7.08% 3.50%-9.00% 7.41 % 2024 $ — $ — $ — $ — $ — $ — 2025 — — — 1,249 — 1,249 2026 — — — 1,600 — 1,600 2027 — — — 750 — 750 2028 — — — 1,350 — 1,350 2029-2067 — — — 3,182 350 3,532 Secured (c) 11,275 350 1 — — 11,626 Total principal maturities $ 11,275 $ 350 $ 1 $ 8,131 $ 350 $ 20,107 Total carrying amount $ 11,228 $ 350 $ 1 $ 8,062 $ 172 $ 19,813 Debt issuance costs (d) (43) — — (64) — (107) (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 December 31, 2023. (c) Securitizations, private secured term funding, and borrowings under the revolving conduit facilities are not included in the above maturities by period due to their variable monthly repayments, which may result in pay-off prior to the stated maturity date. See Note 9 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 $34 million at December 31, 2023 and are reported in Other assets in our consolidated balance sheets.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	12 Months Ended
	Dec. 31, 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 personal loan securitization trusts, private secured term funding, and revolving conduit facilities were as follows: (dollars in millions) December 31, 2023 2022 Assets Cash and cash equivalents $ 2 $ 2 Net finance receivables 12,780 10,432 Allowance for finance receivable losses 1,428 1,126 Restricted cash and restricted cash equivalents 523 442 Other assets 32 28 Liabilities Long-term debt $ 11,579 $ 9,361 Other liabilities 27 20

Insurance (Tables)

Insurance (Tables)	12 Months Ended
	Dec. 31, 2023
Insurance [Abstract]
Schedule of unearned insurance premium reserves, claim reserves and benefit reserves	Components of our insurance reserves were as follows: (dollars in millions) December 31, 2023 2022 Finance receivable related: Payable to OMH: Unearned premium reserves $ 681 $ 672 Claim reserves 90 77 Subtotal (a) 771 749 Payable to third-party beneficiaries (b) 270 250 Non-finance receivable related (b) 345 370 Total $ 1,386 $ 1,369 (a) Reported in Unearned insurance premium and claim reserves in our consolidated balance sheets. (b) Reported in Insurance claims and policyholder liabilities in our consolidated balance sheets. The 2022 balances have been recast as a result of the modified retrospective adoption of ASU 2018-12. See Note 3 for additional information on the adoption of ASU 2018-12.
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): (dollars in millions) At or for the Years Ended December 31, 2023 2022 (a) 2021 (a) Balance at beginning of period $ 93 $ 102 $ 135 Less reinsurance recoverables (3) (3) (3) Net balance at beginning of period 90 99 132 Additions for losses and loss adjustment expenses incurred to: Current year 173 144 165 Prior years (b) (2) (12) (19) Total 171 132 146 Reductions for losses and loss adjustment expenses paid related to: Current year (99) (84) (101) Prior years (57) (58) (78) Total (156) (142) (179) Foreign currency translation adjustment — 1 — Net balance at end of period 105 90 99 Plus reinsurance recoverables 3 3 3 Balance at end of period $ 108 $ 93 $ 102 (a) As a result of the modified retrospective adoption of ASU 2018-12, we have recorded a $13 million reduction to the 2021 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 3 for additional information on the adoption of ASU 2018-12. (b) At December 31, 2023, $2 million reflected a redundancy in the prior years’ net reserves, primarily due to net favorable developments of credit disability claims during the period. At December 31, 2022, $12 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. At December 31, 2021, $19 million reflected a redundancy in the prior years’ net reserves, primarily due to favorable development of credit disability and unemployment claims during the period.
Schedule of claims and allocated claim adjustment expense, net of reinsurance	Incurred claims and allocated claim adjustment expenses, net of reinsurance, as of December 31, 2023, were as follows: Years Ended December 31, At December 31, 2023 (dollars in millions) 2019 (a) 2020 (a) 2021 (a) 2022 (a) 2023 Incurred-but- Cumulative Number of Reported Claims Cumulative Credit Insurance Accident Year 2019 $ 152 $ 146 $ 145 $ 143 $ 143 $ — 45,514 2.0 % 2020 224 206 205 205 3 68,897 3.1 % 2021 — — 161 156 155 8 38,154 1.8 % 2022 — — — 140 139 18 34,077 1.5 % 2023 — — — — 170 73 33,567 1.5 % Total $ 812 (a) Unaudited. (b) Includes expected development on reported claims. (c) Frequency for each accident year is calculated as the ratio of all reported claims incurred to the total exposures in force. Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance, as of December 31, 2023, were as follows: Years Ended December 31, (dollars in millions) 2019 * 2020 * 2021 * 2022 * 2023 Credit Insurance Accident Year 2019 $ 86 $ 125 $ 135 $ 141 $ 143 2020 — 127 185 196 202 2021 — — 99 137 147 2022 — — — 82 121 2023 — — — — 97 Total $ 710 All outstanding liabilities before 2019, net of reinsurance — Liabilities for claims and claim adjustment expenses, net of reinsurance $ 102 * Unaudited. The reconciliations of the net incurred and paid claims development to the liability for claims and claim adjustment expenses were as follows: (dollars in millions) December 31, 2023 Liabilities for unpaid claims and claim adjustment expenses, net of reinsurance: Credit insurance $ 102 Other short-duration insurance lines 3 Total 105 Insurance lines other than short-duration 3 Total gross liability for unpaid claims and claim adjustment expense $ 108
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 (11) (1) 17 (6) Adjusted balance at beginning of period 231 46 277 53 Interest accretion 13 2 14 3 Net premiums collected (32) (7) (47) (8) Ending balance at original discount rate 212 41 244 48 Effect of changes in discount rate assumptions 5 — 8 — Balance at ending of period $ 217 $ 41 $ 252 $ 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 (14) — 5 (7) Adjusted balance at beginning of period 448 124 497 131 Net issuances 3 1 3 — Interest accretion 25 6 26 7 Benefit payments (53) (18) (60) (13) Ending balance at original discount rate 423 113 466 125 Effect of changes in discount rate assumptions 12 — 17 1 Balance at ending of period $ 435 $ 113 $ 483 $ 126 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 $ 218 $ 72 $ 231 $ 78 Deferred profit liability 14 51 16 57 Total net liability for future policy benefits $ 232 $ 123 $ 247 $ 135 The following table reconciles the net liability for future policy benefits to Insurance claims and policyholder liabilities in the consolidated balance sheets: At or for the (dollars in millions) 2023 2022 Term and whole life $ 232 $ 247 Accidental death and disability protection 123 135 Other* 260 238 Total $ 615 $ 620 * 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 $ 430 $ 146 $ 472 $ 164 Discounted 311 106 345 119 Expected future benefit payments: Undiscounted 607 166 674 183 Discounted 435 113 483 126 The revenue and interest accretion related to our long-duration insurance contracts recognized in the consolidated statements of operations were as follows: At or for the 2023 2022 2021 (dollars in millions) Term and Accidental Death and Disability Protection Term and Accidental Death and Disability Protection Term and Whole Life Accidental Death and Disability Protection Gross premiums or assessments $ 57 $ 19 $ 62 $ 20 $ 69 $ 23 Interest accretion $ 12 $ 4 $ 12 $ 4 $ 13 $ 4 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 5.28 % 4.87 % 5.26 % 4.86 % Current discount rate 4.98 % 4.98 % 4.83 % 4.80 %
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 0.32 % 0.01 % 0.36 % 0.01 % Lapses: Expected 2.94 % 1.94 % 2.35 % 1.93 % Actual 2.39 % 2.12 % 2.05 % 2.92 %
Schedule of extraordinary dividends paid	Ordinary dividends paid were as follows: (dollars in millions) Years Ended December 31, 2023 2022 2021 Triton $ 58 $ 50 $ — AHL $ 98 $ — $ 50 Extraordinary dividends paid were as follows: (dollars in millions) Years Ended December 31, 2023 2022 2021 Triton $ 23 $ — $ — AHL $ 107 $ — $ —
Schedule of statutory net income (loss) for insurance companies	Statutory net income for our insurance companies by type of insurance was as follows: (dollars in millions) Years Ended December 31, 2023 2022 2021 Property and casualty: Triton $ 46 $ 58 $ 66 Life and health: AHL $ 100 $ 98 $ 79
Schedule of statutory capital and surplus for insurance companies	Statutory capital and surplus for our insurance companies by type of insurance were as follows: (dollars in millions) December 31, 2023 2022 Property and casualty: Triton $ 180 $ 210 Life and health: AHL $ 279 $ 387
Schedule of average annual percentage payout of incurred claims by age, net of reinsurance	Our average annual percentage payout of incurred claims by age, net of reinsurance, as of December 31, 2023, were as follows: Years 1 2 3 4 5 Credit insurance* 60.6 % 26.9 % 6.2 % 3.3 % 1.5 % * Unaudited.

Capital Stock and Earnings Pe_2

Capital Stock and Earnings Per Share (OMH Only) (Tables)	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Schedule of par value and shares authorized	Par value and shares authorized at December 31, 2023 were as follows: OMH OMFC Preferred Stock * Common Stock Special Stock * Common Stock Par value $ 0.01 $ 0.01 $ — $ 0.50 Shares authorized 300,000,000 2,000,000,000 25,000,000 25,000,000 * No shares of OMH preferred stock or OMFC special stock were issued and outstanding at December 31, 2023 or 2022.
Schedule of changes in shares issued and outstanding	Changes in OMH shares of common stock issued and outstanding were as follows: At or for the Years Ended December 31, 2023 2022 2021 Balance at beginning of period 121,042,125 127,809,640 134,341,724 Common shares issued 285,480 333,038 180,839 Common shares repurchased (1,651,717) (7,181,023) (6,712,923) Treasury stock issued 81,389 80,470 — Balance at end of period 119,757,277 121,042,125 127,809,640 OMFC shares issued and outstanding were as follows: Special Stock Common Stock 2023 2022 2023 2022 Shares issued and outstanding — — 10,160,021 10,160,021
Computation of earnings per share	The computation of earnings per share was as follows: (dollars in millions, except per share data) Years Ended December 31, 2023 2022 2021 Numerator (basic and diluted): Net income $ 641 $ 872 $ 1,314 Denominator: Weighted average number of shares outstanding (basic) 120,382,227 124,178,643 132,653,889 Effect of dilutive securities * 247,363 238,631 400,605 Weighted average number of shares outstanding (diluted) 120,629,590 124,417,274 133,054,494 Earnings per share: Basic $ 5.33 $ 7.02 $ 9.91 Diluted $ 5.32 $ 7.01 $ 9.88 *

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Dec. 31, 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 Year Ended Balance at beginning of period $ (131) $ (8) $ (5) $ (8) $ 25 $ (127) Other comprehensive income (loss) before reclassifications 38 — 3 3 (4) 40 Balance at end of period $ (93) $ (8) $ (2) $ (5) $ 21 $ (87) Year Ended Balance at beginning of period $ 49 $ 1 $ 3 $ (56) $ 8 $ 5 Other comprehensive income (loss) before reclassifications (179) (9) (8) 48 17 (131) Reclassification adjustments from accumulated other comprehensive income (1) — — — — (1) Balance at end of period $ (131) $ (8) $ (5) $ (8) $ 25 $ (127) Year Ended Balance at beginning of period $ 91 $ 1 $ 2 $ — $ — $ 94 Impact of adoption of ASU 2018-12 — — — (76) — (76) Adjusted beginning balance 91 1 2 (76) — 18 Other comprehensive income (loss) before reclassifications (41) — 1 20 8 (12) Reclassification adjustments from accumulated other comprehensive income (1) — — — — (1) Balance at end of period $ 49 $ 1 $ 3 $ (56) $ 8 $ 5 (a) There were no material amounts related to available-for-sale debt securities for which an allowance for credit losses was recorded during the years ended December 31, 2023, 2022 and 2021. (b) Other primarily includes changes in the fair value of our mark-to-market derivative instruments that have been designated as cash flow hedges. Reclassification adjustments from Accumulated other comprehensive income (loss) to the applicable line item on our consolidated statements of operations were immaterial for the years ended December 31, 2023, 2022, and 2021.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Components of income before income tax expense	Components of income before income tax expense were as follows: (dollars in millions) Years Ended December 31, 2023 2022 2021 Income before income tax expense - U.S. operations $ 817 $ 1,134 $ 1,722 Income before income tax expense - foreign operations 23 21 19 Total $ 840 $ 1,155 $ 1,741
Schedule of components of income tax expense (benefit)	Components of income tax expense (benefit) were as follows: (dollars in millions) Years Ended December 31, 2023 2022 2021 Current: Federal $ 194 $ 288 $ 298 Foreign 4 4 1 State 37 55 50 Total current 235 347 349 Deferred: Federal (25) (53) 55 State (11) (11) 23 Total deferred (36) (64) 78 Total $ 199 $ 283 $ 427
Reconciliations of the statutory federal income tax rate to the effective income tax rate	OMH's and OMFC’s reconciliations of the statutory federal income tax rate to the effective income tax rate were as follows: Years Ended December 31, 2023 2022 2021 Statutory federal income tax rate 21.00 % 21.00 % 21.00 % State income taxes, net of federal 2.56 2.93 3.27 Change in valuation allowance 0.93 0.18 0.24 Nondeductible compensation 0.30 0.48 0.50 Other, net (1.19) (0.06) (0.45) Effective income tax rate 23.60 % 24.53 % 24.56 %
Reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits	A reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits (all of which would affect the effective income tax rate if recognized) is as follows: (dollars in millions) Years Ended December 31, 2023 2022 2021 Balance at beginning of year $ 6 $ 8 $ 10 Increases in tax positions for current years 6 — 2 Lapse in statute of limitations (1) (3) (2) Increases in tax positions for prior years — 1 2 Settlements with tax authorities — — (4) Balance at end of year $ 11 $ 6 $ 8
Components of deferred tax assets and liabilities	Components of deferred tax assets and liabilities were as follows: (dollars in millions) December 31, 2023 2022 Deferred tax assets: Allowance for loan losses $ 614 $ 573 Net operating losses and tax credits 46 35 Capitalized research and experimental costs 34 29 Insurance reserves 27 28 Pension/employee benefits 27 24 Fair value of equity and securities investments 19 29 Other 40 28 Total 807 746 Deferred tax liabilities: Goodwill 188 166 Debt fair value adjustment 42 42 Deferred loan fees 27 25 Fixed assets 14 16 Other 22 11 Total 293 260 Net deferred tax assets before valuation allowance 514 486 Valuation allowance (37) (30) Net deferred tax assets $ 477 $ 456

Leases and Contingencies (Table

Leases and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Maturities of lease liabilities	At December 31, 2023, maturities of lease liabilities, excluding leases on a month-to-month basis, were as follows: (dollars in millions) Operating Leases 2024 $ 64 2025 53 2026 39 2027 25 2028 10 2029 3 Thereafter 1 Total lease payments 195 Imputed interest (22) Total $ 173
Lease Costs	Weighted Average Remaining Lease Term 3.64 Weighted Average Discount Rate 4.07 % Operating lease cost and variable lease cost, which are recorded in Other operating expenses in our consolidated statements of operations, were as follows: (dollars in millions) Years Ended December 31, 2023 2022 2021 Operating lease cost $ 63 $ 58 $ 60 Variable lease cost 15 14 15 Total $ 78 $ 72 $ 75

Retirement Benefit Plans (Table

Retirement Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Funded status of the defined benefit pension plans	The following table presents the funded status of the defined benefit pension plans. The funded status of the plans is measured as the difference between the plan assets at fair value and the projected benefit obligation. (dollars in millions) At or for the Years Ended December 31, 2023 2022 2021 Projected benefit obligation, beginning of period $ 275 $ 374 $ 401 Interest cost 13 8 7 Actuarial loss (gain) (a) 5 (91) (18) Benefits paid: Plan assets (16) (16) (16) Projected benefit obligation, end of period (b) 277 275 374 Fair value of plan assets, beginning of period 278 383 405 Actual return on plan assets, net of expenses 20 (90) (7) Company contributions 1 1 1 Benefits paid: Plan assets (16) (16) (16) Fair value of plan assets, end of period (b) 283 278 383 Funded status, end of period $ 6 $ 3 $ 9 Net plan assets recognized in our consolidated balance sheets (b) $ 6 $ 3 $ 9 Pretax net gain (loss) recognized in accumulated other comprehensive income (loss) $ (9) $ (10) $ 2 (a) For the years ended December 31, 2023, 2022, and 2021, the actuarial gains or losses were primarily due to year-over-year fluctuations in discount rates used to calculate the present value of benefit obligations for the defined benefit plans. Adoption of updated mortality assumptions had additional impacts on calculation of gains or losses. (b) Includes one overfunded benefit plan with net plan assets recognized in Other assets in our consolidated balance sheets of $17 million, $14 million, and $22 million at December 31, 2023, 2022, and 2021, respectively, and three underfunded benefit plans with net projected benefit obligations recognized in Other liabilities in our consolidated balance sheets of $11 million, $11 million, and $13 million at December 31, 2023, 2022, and 2021, respectively.
Components of net periodic benefit cost	The following table presents the components of net periodic benefit cost recognized in income and other amounts recognized in Accumulated other comprehensive income or loss with respect to the defined benefit pension plans: (dollars in millions) Years Ended December 31, 2023 2022 2021 Components of net periodic benefit cost: Interest cost $ 13 $ 8 $ 7 Expected return on assets (15) (13) (12) Net periodic benefit cost (2) (5) (5) Other changes in plan assets and projected benefit obligation recognized in other comprehensive income or loss: Net actuarial loss — 12 1 Total recognized in other comprehensive income — 12 1 Total recognized in net periodic benefit cost and other comprehensive income $ (2) $ 7 $ (4)
Summary of weighted average assumptions	The following table summarizes the weighted average assumptions used to determine the projected benefit obligations and the net periodic benefit costs: December 31, 2023 2022 Projected benefit obligation: Discount rate 4.76 % 4.96 % Net periodic benefit costs: Discount rate 4.96 % 2.67 % Expected long-term rate of return on plan assets 5.54 % 3.54 %
Expected future benefit payments	The expected future benefit payments, net of participants’ contributions, of our defined benefit pension plans at December 31, 2023 are as follows: (dollars in millions) Expected Future Benefit Payments 2024 $ 18 2025 17 2026 18 2027 18 2028 18 2029-2033 91
Information about plan assets measured at fair value	The following table presents information about our plan assets measured at fair value and indicates the fair value hierarchy based on the levels of inputs we utilized to determine such fair value: (dollars in millions) Level 1 Level 2 Level 3 Total December 31, 2023 Assets: Cash and cash equivalents $ 1 $ — $ — $ 1 Equity securities: U.S. (a) 1 — — 1 International (b) 1 — — 1 Fixed income securities: U.S. investment grade (c) 10 186 — 196 U.S. high yield (d) — 3 — 3 Total $ 13 $ 189 $ — $ 202 Investments measured at NAV (e) 81 Total investments at fair value $ 283 December 31, 2022 Assets: Cash and cash equivalents $ 3 $ — $ — $ 3 Equity securities: U.S. (a) 1 — — 1 International (b) 1 — — 1 Fixed income securities: U.S. investment grade (c) 16 192 — 208 U.S. high yield (d) — 3 — 3 Total $ 21 $ 195 $ — $ 216 Investments measured at NAV (e) 62 Total investments at fair value $ 278 (a) Includes mutual funds that track common market indexes such as the S&P 500, as well as other indexes comprised of investments in small and large cap companies. (b) Includes mutual funds that track common market indexes comprised of investments in companies in emerging and developed markets. (c) Includes mutual funds and collective investment trusts invested in U.S. and non-U.S. government issued bonds, U.S. government agency or sponsored agency bonds, and investment grade corporate bonds. (d) Includes mutual funds and collective investment trusts invested in securities or debt obligations that have a rating below investment grade. (e) We have elected the practical expedient to exclude certain investments that were measured at net asset value ("NAV") per share (or equivalent) from the fair value hierarchy.

Share-Based Compensation (Table

Share-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Summary of service-based stock activity	The following table summarizes the service-based stock activity and related information for the Omnibus Plan for 2023: Number of Weighted Weighted Unvested as of January 1, 2023 740,415 $ 51.43 Granted 676,288 42.09 Vested (436,822) 48.92 Forfeited (9,785) 45.79 Unvested at December 31, 2023 970,096 46.10 1.70
Summary of performance-based stock activity	The following table summarizes the performance-based stock activity and related information for the Omnibus Plan for 2023: Number of Weighted Weighted Unvested as of January 1, 2023 917,746 $ 41.77 Granted 270,921 44.69 Vested (81,728) 42.59 Forfeited (51,960) 42.04 Unvested at December 31, 2023 1,054,979 42.44 1.69

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 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 consolidated financial statement amounts. (dollars in millions) Consumer Other Segment to Consolidated At or for the Year Ended December 31, 2023 Interest income $ 4,559 $ 4 $ 1 $ 4,564 Interest expense 1,015 2 2 1,019 Provision for finance receivable losses 1,721 — — 1,721 Net interest income after provision for finance receivable losses 1,823 2 (1) 1,824 Other revenues 727 8 — 735 Other expenses 1,705 16 (2) 1,719 Income (loss) before income tax expense (benefit) $ 845 $ (6) $ 1 $ 840 Assets $ 23,056 $ 20 $ 1,218 $ 24,294 At or for the Year Ended December 31, 2022 Interest income $ 4,429 $ 5 $ 1 $ 4,435 Interest expense 886 3 3 892 Provision for finance receivable losses 1,399 — 3 1,402 Net interest income after provision for finance receivable losses 2,144 2 (5) 2,141 Other revenues 618 12 (1) 629 Other expenses 1,593 14 8 1,615 Income (loss) before income tax expense (benefit) $ 1,169 $ — $ (14) $ 1,155 Assets $ 20,491 $ 35 $ 2,011 $ 22,537 At or for the Year Ended December 31, 2021 Interest income $ 4,355 $ 5 $ 4 $ 4,364 Interest expense 930 3 4 937 Provision for finance receivables losses 587 — 6 593 Net interest income after provision for finance receivable losses 2,838 2 (6) 2,834 Other revenues 527 12 (8) 531 Other expenses 1,577 21 26 1,624 Income (loss) before income tax expense (benefit) $ 1,788 $ (7) $ (40) $ 1,741 Assets $ 20,035 $ 40 $ 2,020 $ 22,095

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 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 December 31, 2023 Assets Cash and cash equivalents $ 1,014 $ — $ — $ 1,014 $ 1,014 Investment securities 54 1,662 3 1,719 1,719 Net finance receivables, less allowance for finance receivable losses — — 20,490 20,490 18,869 Restricted cash and restricted cash equivalents 534 — — 534 534 Other assets * — — 40 40 29 Liabilities Long-term debt $ — $ 19,457 $ — $ 19,457 $ 19,813 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 December 31, 2023 and 2022
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 December 31, 2023 Assets Cash equivalents in mutual funds $ 97 $ — $ — $ 97 Investment securities: Available-for-sale securities U.S. government and government sponsored entities — 17 — 17 Obligations of states, municipalities, and political subdivisions — 66 — 66 Commercial paper — 14 — 14 Non-U.S. government and government sponsored entities — 167 — 167 Corporate debt 6 1,078 1 1,085 RMBS — 180 — 180 CMBS — 33 — 33 CDO/ABS — 85 — 85 Total available-for-sale securities 6 1,640 1 1,647 Other securities Bonds: Corporate debt — 4 — 4 CDO/ABS — 18 — 18 Total bonds — 22 — 22 Preferred stock 16 — — 16 Common stock 32 — 2 34 Total other securities 48 22 2 72 Total investment securities 54 1,662 3 1,719 Restricted cash equivalents in mutual funds 525 — — 525 Total $ 676 $ 1,662 $ 3 $ 2,341 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

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - payment	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Financing receivable general information
Number of payments past due before which a loan is charged off to the allowance for finance receivable losses	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	2
Number of payments past due before repossession, period	30 days
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Other liabilities (includes other liabilities of consolidated VIEs of $26 million in 2023 and $20 million in 2022)	Other liabilities (includes other liabilities of consolidated VIEs of $26 million in 2023 and $20 million in 2022)
Credit Cards
Financing receivable general information
Finance receivable, amortization term	12 months
Number of contractual payments past due	7
Number of contractual payments past due, period	180 days
Number of payments past due before which a loan is charged off to the allowance for finance receivable losses, period	180 days
Personal Loans
Financing receivable general information
Number of contractual payments past due	4
Number of contractual payments past due, period	90 days
Number of consecutive payments missed to reverse finance charges	4

Recent Accounting Pronounceme_3

Recent Accounting Pronouncements - Effects of Adoption To Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other assets	$ 1,232	$ 1,154	$ 1,019	$ 1,075
Insurance claims and policyholder liabilities	615	620	693	718
Accumulated other comprehensive loss	(87)	(127)	5	18
Retained earnings	2,285	2,119
OMFC
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other assets	1,230	1,152	1,017
Insurance claims and policyholder liabilities	615	620
Accumulated other comprehensive loss	(87)	(127)
Retained earnings	$ 1,303	1,193
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	621	621
Accumulated other comprehensive loss		(119)	61	94
Retained earnings		2,125
Previously Reported | OMFC
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other assets		1,148	1,001
Retained earnings		1,199
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	72	97
Accumulated other comprehensive loss		(8)	(56)	$ (76)
Retained earnings		(6)
Revision of Prior Period, Adjustment | OMFC
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other assets		4	$ 16
Retained earnings		$ (6)

Recent Accounting Pronounceme_4

Recent Accounting Pronouncements - Effects of Adoption To Condensed Consolidated Statements of Operations (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Insurance policy benefits and claims	$ 189	$ 158	$ 176
Income before income taxes	840	1,155	1,741
Income taxes	199	283	427
Net income	$ 641	$ 872	$ 1,314
Basic EPS (OMH only) (in dollars per share)	$ 5.33	$ 7.02	$ 9.91
Diluted EPS (OMH only) (in dollars per share)	$ 5.32	$ 7.01	$ 9.88
OMFC
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Insurance policy benefits and claims	$ 189	$ 158	$ 176
Income before income taxes	840	1,155	1,741
Income taxes	199	283	427
Net income	$ 641	872	$ 1,314
Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Insurance policy benefits and claims		150
Income before income taxes		1,163
Income taxes		285
Net income		$ 878
Basic EPS (OMH only) (in dollars per share)		$ 7.07	$ 9.90
Diluted EPS (OMH only) (in dollars per share)		$ 7.06	9.87
Revision of Prior Period, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Insurance policy benefits and claims		$ 8
Income before income taxes		(8)
Income taxes		(2)
Net income		$ (6)
Basic EPS (OMH only) (in dollars per share)		$ (0.05)	0.01
Diluted EPS (OMH only) (in dollars per share)		$ (0.05)	$ 0.01

Recent Accounting Pronounceme_5

Recent Accounting Pronouncements - Effects of Adoption To Condensed Consolidated Statements of Comprehensive Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Comprehensive income	$ 681	$ 740	$ 1,301
Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Comprehensive income		698	1,281
Revision of Prior Period, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Comprehensive income		$ 42	$ 20

Recent Accounting Pronounceme_6

Recent Accounting Pronouncements - Effect of Adoption To Condensed Consolidated Statements of Cash Flows (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net income	$ 641	$ 872	$ 1,314
Deferred income tax charge	(36)	(64)	78
Cash flows due to changes in other assets and other liabilities	(44)	(82)	(48)
OMFC
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net income	641	872	1,314
Deferred income tax charge	(36)	(64)	78
Cash flows due to changes in other assets and other liabilities	$ (44)	(81)	$ (44)
Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net income		878
Deferred income tax charge		(62)
Cash flows due to changes in other assets and other liabilities		(90)
Previously Reported | OMFC
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cash flows due to changes in other assets and other liabilities		(89)
Revision of Prior Period, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net income		(6)
Deferred income tax charge		(2)
Cash flows due to changes in other assets and other liabilities		8
Revision of Prior Period, Adjustment | OMFC
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cash flows due to changes in other assets and other liabilities		$ 8

Recent Accounting Pronounceme_7

Recent Accounting Pronouncements - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for finance receivable	$ (2,480)	$ (2,311)	$ (2,095)	$ (2,269)
Retained earnings	$ 2,285	2,119
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

Finance Receivables - Additiona

Finance Receivables - Additional Information (Details) - USD ($)	1 Months Ended	3 Months Ended	12 Months Ended
	Feb. 09, 2024	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Whole loan sale flow agreement, quarterly loans sold			$ 60,000,000
Proceeds from sale of gross finance receivables			585,000,000	$ 720,000,000
Gain on sale of financing receivables			$ 52,000,000	63,000,000	$ 47,000,000
Number of payments past due before which a loan is charged off to the allowance for finance receivable losses, period			180 days
Unused credit card lines		$ 81,000,000	$ 223,000,000	81,000,000
Subsequent Event
Accounts, Notes, Loans and Financing Receivable [Line Items]
Whole loan sale flow agreement, quarterly loans sold	$ 600,000,000
Credit Cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of payments past due before which a loan is charged off to the allowance for finance receivable losses, period			180 days
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 | Subsequent Event
Accounts, Notes, Loans and Financing Receivable [Line Items]
Whole loan sale flow agreement, commitment period	2 years
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
Nonperforming (Nonaccrual) | Personal Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Threshold period past due			90 days
Reversal of net accrued finance charges and fees			$ 146,000,000	126,000,000
Interest income			18,000,000	16,000,000
Nonperforming (Nonaccrual) | Credit Cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Reversal of net accrued finance charges and fees		$ 0	$ 11,000,000	$ 0

Finance Receivables - Net Finan

Finance Receivables - Net Finance Receivables by Type (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	$ 21,043	$ 19,722
Unearned fees	(236)	(220)
Accrued finance charges and fees	333	299
Deferred origination costs	209	185
Financing Receivable, Total	21,349	19,986
Personal Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	20,721	19,615
Unearned fees	(236)	(220)
Accrued finance charges and fees	333	299
Deferred origination costs	201	185
Financing Receivable, Total	21,019	19,879
Credit Cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	322	107
Unearned fees	0	0
Accrued finance charges and fees	0	0
Deferred origination costs	8	0
Financing Receivable, Total	$ 330	$ 107

Finance Receivables - Schedule

Finance Receivables - Schedule of the largest concentrations of net finance receivables (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Concentration Risk [Line Items]
Net finance receivables	$ 21,349	$ 19,986
Personal Loans
Concentration Risk [Line Items]
Net finance receivables	21,019	19,879
Credit Cards
Concentration Risk [Line Items]
Net finance receivables	330	107
Loans and Finance Receivables | Geographic Concentration Risk | Personal Loans
Concentration Risk [Line Items]
Net finance receivables	$ 21,019	$ 19,879
Concentration risk percent	100%	100%
Loans and Finance Receivables | Geographic Concentration Risk | Credit Cards
Concentration Risk [Line Items]
Net finance receivables	$ 330	$ 107
Concentration risk percent	100%	100%
Texas | Loans and Finance Receivables | Geographic Concentration Risk | Personal Loans
Concentration Risk [Line Items]
Net finance receivables	$ 2,015	$ 1,954
Concentration risk percent	10%	10%
Texas | Loans and Finance Receivables | Geographic Concentration Risk | Credit Cards
Concentration Risk [Line Items]
Net finance receivables	$ 46	$ 15
Concentration risk percent	14%	14%
Florida | Loans and Finance Receivables | Geographic Concentration Risk | Personal Loans
Concentration Risk [Line Items]
Net finance receivables	$ 1,609	$ 1,446
Concentration risk percent	8%	7%
Florida | Loans and Finance Receivables | Geographic Concentration Risk | Credit Cards
Concentration Risk [Line Items]
Net finance receivables	$ 38	$ 8
Concentration risk percent	11%	8%
California | Loans and Finance Receivables | Geographic Concentration Risk | Personal Loans
Concentration Risk [Line Items]
Net finance receivables	$ 1,527	$ 1,391
Concentration risk percent	7%	7%
California | Loans and Finance Receivables | Geographic Concentration Risk | Credit Cards
Concentration Risk [Line Items]
Net finance receivables	$ 50	$ 26
Concentration risk percent	15%	24%
Pennsylvania | Loans and Finance Receivables | Geographic Concentration Risk | Personal Loans
Concentration Risk [Line Items]
Net finance receivables	$ 1,317	$ 1,249
Concentration risk percent	6%	6%
Pennsylvania | Loans and Finance Receivables | Geographic Concentration Risk | Credit Cards
Concentration Risk [Line Items]
Net finance receivables	$ 18	$ 4
Concentration risk percent	5%	4%
North Carolina | Loans and Finance Receivables | Geographic Concentration Risk | Personal Loans
Concentration Risk [Line Items]
Net finance receivables	$ 1,072	$ 1,110
Concentration risk percent	5%	6%
Ohio | Loans and Finance Receivables | Geographic Concentration Risk | Personal Loans
Concentration Risk [Line Items]
Net finance receivables	$ 1,006	$ 963
Concentration risk percent	5%	5%
Ohio | Loans and Finance Receivables | Geographic Concentration Risk | Credit Cards
Concentration Risk [Line Items]
Net finance receivables	$ 15	$ 3
Concentration risk percent	5%	3%
New York | Loans and Finance Receivables | Geographic Concentration Risk | Personal Loans
Concentration Risk [Line Items]
Net finance receivables	$ 879	$ 749
Concentration risk percent	4%	4%
Georgia | Loans and Finance Receivables | Geographic Concentration Risk | Personal Loans
Concentration Risk [Line Items]
Net finance receivables	$ 843	$ 792
Concentration risk percent	4%	4%
Georgia | Loans and Finance Receivables | Geographic Concentration Risk | Credit Cards
Concentration Risk [Line Items]
Net finance receivables	$ 15	$ 3
Concentration risk percent	5%	3%
Illinois | Loans and Finance Receivables | Geographic Concentration Risk | Personal Loans
Concentration Risk [Line Items]
Net finance receivables	$ 826	$ 777
Concentration risk percent	4%	4%
Illinois | Loans and Finance Receivables | Geographic Concentration Risk | Credit Cards
Concentration Risk [Line Items]
Net finance receivables	$ 15	$ 3
Concentration risk percent	5%	3%
Indiana | Loans and Finance Receivables | Geographic Concentration Risk | Personal Loans
Concentration Risk [Line Items]
Net finance receivables	$ 740	$ 726
Concentration risk percent	4%	4%
Other | Loans and Finance Receivables | Geographic Concentration Risk | Personal Loans
Concentration Risk [Line Items]
Net finance receivables	$ 9,185	$ 8,722
Concentration risk percent	43%	43%
Other | Loans and Finance Receivables | Geographic Concentration Risk | Credit Cards
Concentration Risk [Line Items]
Net finance receivables	$ 133	$ 45
Concentration risk percent	40%	41%

Finance Receivables - Delinquen

Finance Receivables - Delinquent and Nonperforming Finance Receivables, by Year of Origination (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable By Year Originated
Financing Receivable, Total	$ 21,349	$ 19,986
Gross charge-offs
Financing Receivable, Gross Charge-Offs	1,795	1,438	$ 989
Personal Loans
Financing Receivable By Year Originated
Year One	10,560	11,002
Prior Year Two	6,260	5,410
Prior Year Three	2,781	1,907
Prior Year Four	862	1,172
Prior Year Five	423	268
Prior Year Six	133	120
Financing Receivable, Total	21,019	19,879
Gross charge-offs
Year One	65
Prior Year Two	749
Prior Year Three	630
Prior Year Four	183
Prior Year Five	101
Prior Year Six	40
Financing Receivable, Gross Charge-Offs	1,768	1,431	$ 989
Performing | Personal Loans
Financing Receivable By Year Originated
Year One	10,432	10,842
Prior Year Two	5,996	5,164
Prior Year Three	2,637	1,833
Prior Year Four	822	1,128
Prior Year Five	402	255
Prior Year Six	125	113
Financing Receivable, Total	20,414	19,335
Performing | Current | Personal Loans
Financing Receivable By Year Originated
Year One	10,239	10,614
Prior Year Two	5,730	4,927
Prior Year Three	2,488	1,758
Prior Year Four	778	1,081
Prior Year Five	376	240
Prior Year Six	114	105
Financing Receivable, Total	19,725	18,725
Performing | 30-59 days past due | Personal Loans
Financing Receivable By Year Originated
Year One	117	136
Prior Year Two	159	136
Prior Year Three	90	43
Prior Year Four	27	28
Prior Year Five	16	9
Prior Year Six	7	5
Financing Receivable, Total	416	357
Performing | 60-89 days past due | Personal Loans
Financing Receivable By Year Originated
Year One	76	92
Prior Year Two	107	101
Prior Year Three	59	32
Prior Year Four	17	19
Prior Year Five	10	6
Prior Year Six	4	3
Financing Receivable, Total	273	253
Nonperforming (Nonaccrual) | 90+ days past due | Personal Loans
Financing Receivable By Year Originated
Year One	128	160
Prior Year Two	264	246
Prior Year Three	144	74
Prior Year Four	40	44
Prior Year Five	21	13
Prior Year Six	8	7
Financing Receivable, Total	$ 605	$ 544

Finance Receivables - Summary o

Finance Receivables - Summary of Credit Cards by Number of Days Delinquent (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Delinquency by finance receivables type
Net finance receivables	$ 21,349	$ 19,986
Credit Cards
Delinquency by finance receivables type
Net finance receivables	330	107
Credit Cards | Current
Delinquency by finance receivables type
Net finance receivables	297	93
Credit Cards | 30-59 days past due
Delinquency by finance receivables type
Net finance receivables	9	3
Credit Cards | 60-89 days past due
Delinquency by finance receivables type
Net finance receivables	7	3
Credit Cards | 90+ days past due
Delinquency by finance receivables type
Net finance receivables	$ 17	$ 8

Finance Receivables - Modified

Finance Receivables - Modified Financing Receivables To Borrowers Experiencing Financial Difficulty (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable, Modified [Line Items]
Modifications as a percent of net finance receivables - personal loans	3.75%
Personal Loans
Financing Receivable, Modified [Line Items]
Modifications to borrowers experiencing financial difficulties	$ 788	$ 738	$ 453
Personal Loans | Interest rate reduction and term extension
Financing Receivable, Modified [Line Items]
Modifications to borrowers experiencing financial difficulties	457
Personal Loans | Interest rate reduction and principal forgiveness
Financing Receivable, Modified [Line Items]
Modifications to borrowers experiencing financial difficulties	$ 331

Finance Receivables - Modifie_2

Finance Receivables - Modified Financing Receivables Financial Effects (Details) - Personal Loans $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Financing Receivable, Modified [Line Items]
Weighted-average interest rate reduction	19.48%
Weighted-average term extension (months)	25 months
Principal/interest forgiveness	$ 44

Finance Receivables - Modifie_3

Finance Receivables - Modified Financing Receivables Days Delinquent (Details) - Personal Loans $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Financing Receivable, Modified [Line Items]
Modified financing receivables	$ 788
Finance receivables subsequently charged off	89
Current
Financing Receivable, Modified [Line Items]
Modified financing receivables	575
30-59 days past due
Financing Receivable, Modified [Line Items]
Modified financing receivables	64
60-89 days past due
Financing Receivable, Modified [Line Items]
Modified financing receivables	48
90+ days past due
Financing Receivable, Modified [Line Items]
Modified financing receivables	$ 101

Finance Receivables - Modifie_4

Finance Receivables - Modified Finance Receivables, Nonperforming (Details) - Personal Loans - Nonperforming (Nonaccrual) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Financing Receivable, Modified [Line Items]
Modified finance receivables	$ 76
Interest rate reduction and term extension
Financing Receivable, Modified [Line Items]
Modified finance receivables	56
Interest rate reduction and principal forgiveness
Financing Receivable, Modified [Line Items]
Modified finance receivables	$ 20

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	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($) account	Dec. 31, 2021 USD ($) account
Financing Receivable, Modified [Line Items]
Pre-modification TDR net finance receivables		$ 738	$ 453
Total post-modification TDR net finance receivables	$ 788	$ 738	$ 453
Number of TDR accounts | account		88,901	55,229
Rate reduction
Financing Receivable, Modified [Line Items]
Total post-modification TDR net finance receivables		$ 465	$ 310
Other
Financing Receivable, Modified [Line Items]
Total post-modification TDR net finance receivables		$ 273	$ 143

Finance Receivables - Modifie_5

Finance Receivables - Modified as TDR - Non Performing Finance Receivables (Details) - Personal Loans $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) account	Dec. 31, 2021 USD ($) account
Delinquency by finance receivables type
TDR net finance receivables | $	$ 136	$ 117
Number of TDR accounts | account	17,297	16,046

Allowance for Finance Receiva_3

Allowance for Finance Receivable Losses - Changes in Allowance by Type (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Changes in allowance for finance receivable losses
Balance at beginning of period	$ 2,311	$ 2,095	$ 2,269
Provision for finance receivable losses	1,721	1,402	593
Charge-offs	(1,795)	(1,438)	(989)
Recoveries	259	252	222
Balance at end of period	2,480	2,311	2,095
Cumulative Effect, Period Of Adoption, Adjustment
Changes in allowance for finance receivable losses
Balance at beginning of period	(16)
Balance at end of period		(16)
Personal Loans
Changes in allowance for finance receivable losses
Balance at beginning of period	2,290	2,090	2,269
Provision for finance receivable losses	1,651	1,379	588
Charge-offs	(1,768)	(1,431)	(989)
Recoveries	258	252	222
Balance at end of period	2,415	2,290	2,090
Personal Loans | Cumulative Effect, Period Of Adoption, Adjustment
Changes in allowance for finance receivable losses
Balance at beginning of period	(16)
Balance at end of period		(16)
Credit Cards
Changes in allowance for finance receivable losses
Balance at beginning of period	21	5	0
Provision for finance receivable losses	70	23	5
Charge-offs	(27)	(7)	0
Recoveries	1	0	0
Balance at end of period	65	21	$ 5
Credit Cards | Cumulative Effect, Period Of Adoption, Adjustment
Changes in allowance for finance receivable losses
Balance at beginning of period	$ 0
Balance at end of period		$ 0

Investment Securities - Cost_Am

Investment Securities - Cost/Amortized, Unrealized Gains/Losses & FV on AFS Investment Securities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	$ 1,765	$ 1,897
Unrealized Gains	5	1
Unrealized Losses	(123)	(169)
Fair Value	1,647	1,729
U.S. government and government sponsored entities
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	18	17
Unrealized Gains	0	0
Unrealized Losses	(1)	(1)
Fair Value	17	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	(6)	(8)
Fair Value	66	66
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	14	55
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	14	55
Non-U.S. government and government sponsored entities
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	172	150
Unrealized Gains	1	0
Unrealized Losses	(6)	(8)
Fair Value	167	142
Corporate debt
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	1,160	1,251
Unrealized Gains	4	1
Unrealized Losses	(79)	(115)
Fair Value	1,085	1,137
RMBS
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	202	217
Unrealized Gains	0	0
Unrealized Losses	(22)	(25)
Fair Value	180	192
CMBS
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	36	38
Unrealized Gains	0	0
Unrealized Losses	(3)	(3)
Fair Value	33	35
CDO/ABS
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	91	95
Unrealized Gains	0	0
Unrealized Losses	(6)	(9)
Fair Value	$ 85	$ 86

Investment Securities - Additio

Investment Securities - Additional Information (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) investment	Dec. 31, 2022 USD ($) investment	Dec. 31, 2021 USD ($)
Investments, Debt and Equity Securities [Abstract]
Interest receivable	$ 14,000,000	$ 14,000,000
Investment securities in an unrealized loss position | investment	1,984	2,280
Proceeds from sales and redemptions	$ 90,000,000	$ 278,000,000	$ 250,000,000
Securities on deposit with third parties	524,000,000	532,000,000
Net unrealized gains (losses) on other securities held	$ 0	$ (9,000,000)	$ 0

Investment Securities - Fair Va

Investment Securities - Fair Value and Unrealized Losses on AFS Investment Securities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Fair Value
Less Than 12 Months	$ 62	$ 1,164
12 Months or Longer	1,341	468
Total	1,403	1,632
Unrealized Losses *
Less Than 12 Months	0	(76)
12 Months or Longer	(123)	(93)
Total	(123)	(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	62	15
Total	64	63
Unrealized Losses *
Less Than 12 Months	0	(5)
12 Months or Longer	(6)	(3)
Total	(6)	(8)
Commercial paper
Fair Value
Less Than 12 Months	14	51
12 Months or Longer	0	0
Total	14	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	22	104
12 Months or Longer	97	32
Total	119	136
Unrealized Losses *
Less Than 12 Months	0	(3)
12 Months or Longer	(6)	(5)
Total	(6)	(8)
Corporate debt
Fair Value
Less Than 12 Months	15	779
12 Months or Longer	925	299
Total	940	1,078
Unrealized Losses *
Less Than 12 Months	0	(54)
12 Months or Longer	(79)	(61)
Total	(79)	(115)
RMBS
Fair Value
Less Than 12 Months	5	106
12 Months or Longer	152	68
Total	157	174
Unrealized Losses *
Less Than 12 Months	0	(9)
12 Months or Longer	(22)	(16)
Total	(22)	(25)
CMBS
Fair Value
Less Than 12 Months	2	21
12 Months or Longer	32	13
Total	34	34
Unrealized Losses *
Less Than 12 Months	0	(2)
12 Months or Longer	(3)	(1)
Total	(3)	(3)
CDO/ABS
Fair Value
Less Than 12 Months	1	45
12 Months or Longer	62	35
Total	63	80
Unrealized Losses *
Less Than 12 Months	0	(3)
12 Months or Longer	(6)	(6)
Total	$ (6)	$ (9)

Investment Securities - Contrac

Investment Securities - Contractual Maturities of AFS Investment Securities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Fixed maturities, excluding mortgage-backed, asset-backed, and collateralized securities:
Due in 1 year or less	$ 160
Due after 1 year through 5 years	572
Due after 5 years through 10 years	499
Due after 10 years	118
Mortgage-backed, asset-backed, and collateralized securities	298
Fair Value	1,647	$ 1,729
Fixed maturities, excluding mortgage-backed, asset-backed, and collateralized securities:
Due in 1 year or less	161
Due after 1 year through 5 years	593
Due after 5 years through 10 years	548
Due after 10 years	134
Mortgage-backed, asset-backed, and collateralized securities	329
Cost/ Amortized Cost	$ 1,765	$ 1,897

Investment Securities - Fair _2

Investment Securities - Fair Value of Other Securities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Debt and Equity Securities, FV-NI [Line Items]
Bonds	$ 22	$ 23
Total	72	71
Preferred stock
Debt and Equity Securities, FV-NI [Line Items]
Equity securities	16	15
Common stock
Debt and Equity Securities, FV-NI [Line Items]
Equity securities	$ 34	$ 33

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 1,437,000,000	$ 1,437,000,000
Impairments to goodwill	0	0	$ 0
Amortization expense	$ 0	$ 13,000,000	$ 32,000,000

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Other Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Acquired Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ (91)	$ (90)
Gross Carrying Amount	351	351
Net Other Intangible Assets	260	261
Trade names
Acquired Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	220	220
Licenses
Acquired Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	25	25
VOBA
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	105	105
Accumulated Amortization	(91)	(90)
Net Other Intangible Assets	14	15
Other
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1	1
Accumulated Amortization	0	0
Net Other Intangible Assets	$ 1	$ 1

Long-term Debt- Schedule of Fai

Long-term Debt- Schedule of Fair Value and Carrying Value (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Total Carrying Value
Debt Instrument [Line Items]
Long-term debt	$ 19,813	$ 18,281
Fair Value
Debt Instrument [Line Items]
Long-term debt	19,457	16,969
Unsecured Notes | Total Carrying Value
Debt Instrument [Line Items]
Long-term debt	19,641	18,109
Unsecured Notes | Fair Value
Debt Instrument [Line Items]
Long-term debt	19,273	16,782
Junior Subordinated Debt | Total Carrying Value
Debt Instrument [Line Items]
Long-term debt	172	172
Junior Subordinated Debt | Fair Value
Debt Instrument [Line Items]
Long-term debt	$ 184	$ 187

Long-term Debt - Principal Matu

Long-term Debt - Principal Maturities of Long-Term Debt (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Long-term debt
Interest rate during the period	5.34%	4.99%	5.37%
Interest rate at point in time	5.55%	5.12%
Principal maturities of long-term debt by type of debt
2024	$ 0
2025	1,249
2026	1,600
2027	750
2028	1,350
2029-2067	3,532
Secured	11,626
Total principal maturities	20,107
Long-term debt	19,813	$ 18,281
Debt issuance costs	(107)
Securitizations
Principal maturities of long-term debt by type of debt
2024	0
2025	0
2026	0
2027	0
2028	0
2029-2067	0
Secured	11,275
Total principal maturities	11,275
Long-term debt	11,228
Debt issuance costs	$ (43)
Securitizations | Minimum
Long-term debt
Interest rate	0.87%
Securitizations | Maximum
Long-term debt
Interest rate	7.52%
Private Secured Term Funding
Long-term debt
Interest rate	6.45%
Principal maturities of long-term debt by type of debt
2024	$ 0
2025	0
2026	0
2027	0
2028	0
2029-2067	0
Secured	350
Total principal maturities	350
Long-term debt	350
Debt issuance costs	0
Revolving Conduit Facilities
Principal maturities of long-term debt by type of debt
2024	0
2025	0
2026	0
2027	0
2028	0
2029-2067	0
Secured	1
Total principal maturities	1
Long-term debt	1
Debt issuance costs	$ 0
Revolving Conduit Facilities | Minimum
Long-term debt
Interest rate	7.08%
Revolving Conduit Facilities And Unsecured Corporate Revolver
Principal maturities of long-term debt by type of debt
Debt issuance costs	$ 34
Unsecured Notes
Long-term debt
Interest rate during the period	5.26%	4.97%	5.38%
Interest rate at point in time	5.47%	5.06%
Unsecured Notes | Unsecured Notes
Principal maturities of long-term debt by type of debt
2024	$ 0
2025	1,249
2026	1,600
2027	750
2028	1,350
2029-2067	3,182
Total principal maturities	8,131
Long-term debt	8,062
Debt issuance costs	$ (64)
Unsecured Notes | Unsecured Notes | Minimum
Long-term debt
Interest rate	3.50%
Unsecured Notes | Unsecured Notes | Maximum
Long-term debt
Interest rate	9%
Junior Subordinated Debt
Long-term debt
Interest rate during the period	14.53%	7.42%	4.02%
Interest rate at point in time	15.12%	11.91%
Interest rate	7.41%
Principal maturities of long-term debt by type of debt
2024	$ 0
2025	0
2026	0
2027	0
2028	0
2029-2067	350
Total principal maturities	350
Long-term debt	172
Debt issuance costs	$ 0

Long-term Debt - Narrative (Det

Long-term Debt - Narrative (Details) - USD ($)		1 Months Ended	12 Months Ended
	Jun. 29, 2023	Jan. 31, 2007	Dec. 31, 2023
Junior Subordinated Debt | SOFR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate			1.75%
Junior Subordinated Debt | SOFR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate			0.26%
OMFC | Revolver
Debt Instrument [Line Items]
Total borrowing capacity			$ 1,300,000,000
Debt instrument, term			5 years
Outstanding balance			$ 0
OMFC | Junior Subordinated Debt
Debt Instrument [Line Items]
Debt instrument, term		60 years
Debt instrument, principal amount		$ 350,000,000
Tangible equity to tangible managed assets (ratio) (less than)			5.50%
Average fixed charge ratio (not more than)			1.10
OMFC | Junior Subordinated Debt | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.75%

Variable Interest Entities - Ca

Variable Interest Entities - Carrying Amount of Consolidated VIEs (Details) - USD ($) $ in Millions		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Variable Interest Entity [Line Items]
Cash and cash equivalents		$ 1,014	$ 498	$ 541
Net finance receivables		21,349	19,986
Allowance for finance receivable losses		2,480	2,311	2,095	$ 2,269
Restricted cash and restricted cash equivalents	[1]	534	461	476
Other assets		1,232	1,154	$ 1,019	$ 1,075
Long-term debt		19,813	18,281
Consolidated VIEs
Variable Interest Entity [Line Items]
Cash and cash equivalents		2	2
Net finance receivables		12,780	10,432
Allowance for finance receivable losses		1,428	1,126
Restricted cash and restricted cash equivalents		523	442
Other assets		32	28
Long-term debt		11,579	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	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Variable Interest Entity [Line Items]
Interest expense	$ 1,019	$ 892	$ 937
Consolidated VIEs
Variable Interest Entity [Line Items]
Interest expense	$ 483	$ 305	$ 293

Variable Interest Entities - Se

Variable Interest Entities - Securitized Borrowings (Details) - Securitizations	12 Months Ended
	Dec. 31, 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	12 Months Ended
	Dec. 31, 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 $ in Billions	12 Months Ended
	Dec. 31, 2023 USD ($) facility
Line of Credit Facility [Line Items]
Number of conduit facilities | facility	16
Total borrowing capacity | $	$ 6.4
Debt instrument, term	9 years

Insurance - Additional Informat

Insurance - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) state	Dec. 31, 2022 USD ($)
Claims Development [Line Items]
Reserves related to unearned premiums, claims and benefits assumed from non-affiliated insurance companies | $	$ 303	$ 324
Weighted-average duration of the liability for future policy benefits	8 years	8 years
AHL
Claims Development [Line Items]
Number of states in which entity operates | state	49
Triton
Claims Development [Line Items]
Number of states in which entity operates | state	50
OMH insurance subsidiaries
Claims Development [Line Items]
Period restricting maximum amount of dividends without prior approval	12 months
Policyholders' surplus restricting maximum amount of dividends (as a percent)	10%
Period restricting maximum ordinary dividends without prior approval	12 months
Policyholders' surplus restricting maximum ordinary dividends (as a percent)	10%
Non Affiliated Entity
Claims Development [Line Items]
Reserves related to unearned premiums, claims and benefits ceded to non-affiliated insurance companies | $	$ 57	$ 60

Insurance - Components of Insur

Insurance - Components of Insurance Reserves (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Unearned insurance premium and claim reserves	$ 771	$ 749
Insurance claims and policyholder liabilities	615	620	$ 693	$ 718
Total	1,386	1,369
Finance receivable related
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Insurance claims and policyholder liabilities	270	250
Non-finance receivable related
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Insurance claims and policyholder liabilities	345	370
Unearned premium reserves
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Unearned insurance premium and claim reserves	681	672
Claim reserves
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Unearned insurance premium and claim reserves	$ 90	$ 77

Insurance - Changes in the Rese

Insurance - Changes in the Reserve for Unpaid Claims and Loss Adjustment Expenses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Liability for unpaid claims and claims adjustment expense
Balance at beginning of period	$ 93	$ 102	$ 135
Less reinsurance recoverables	(3)	(3)	(3)	$ (3)
Net balance at beginning of period	90	99	132
Additions for losses and loss adjustment expenses incurred to:
Current year	173	144	165
Prior years	(2)	(12)	(19)
Total	171	132	146
Reductions for losses and loss adjustment expenses paid related to:
Current year	(99)	(84)	(101)
Prior years	(57)	(58)	(78)
Total	(156)	(142)	(179)
Foreign currency translation adjustment	0	1	0
Net balance at end of period	105	90	99
Plus reinsurance recoverables	3	3	3	3
Balance at end of period	$ 108	$ 93	$ 102
Net impact of adoption of ASU 2022-02 (see Note 3)
Liability for unpaid claims and claims adjustment expense
Less reinsurance recoverables				(13)
Reductions for losses and loss adjustment expenses paid related to:
Plus reinsurance recoverables				$ 13

Insurance - Claims and Allocate

Insurance - Claims and Allocated Claim Adjustment Expense, Net of Reinsurance (Details) $ in Millions	Dec. 31, 2023 USD ($) claim	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Liabilities for claims and claim adjustment expenses, net of reinsurance	$ 105
Insurance lines other than short-duration	3
Total gross liability for unpaid claims and claim adjustment expense	108	$ 93	$ 102	$ 135
Credit Insurance
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	812
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	710
All outstanding liabilities before 2019, net of reinsurance	0
Liabilities for claims and claim adjustment expenses, net of reinsurance	102
Credit Insurance | 2019
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	143	143	145	146	$ 152
Incurred-but-not-reported Liabilities	$ 0
Cumulative Number of Reported Claims | claim	45,514
Cumulative Frequency	2%
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	$ 143	141	135	125	$ 86
Credit Insurance | 2020
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	205	205	206	224
Incurred-but-not-reported Liabilities	$ 3
Cumulative Number of Reported Claims | claim	68,897
Cumulative Frequency	3.10%
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	$ 202	196	185	$ 127
Credit Insurance | 2021
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	155	156	161
Incurred-but-not-reported Liabilities	$ 8
Cumulative Number of Reported Claims | claim	38,154
Cumulative Frequency	1.80%
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	$ 147	137	$ 99
Credit Insurance | 2022
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	139	140
Incurred-but-not-reported Liabilities	$ 18
Cumulative Number of Reported Claims | claim	34,077
Cumulative Frequency	1.50%
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	$ 121	$ 82
Credit Insurance | 2023
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	170
Incurred-but-not-reported Liabilities	$ 73
Cumulative Number of Reported Claims | claim	33,567
Cumulative Frequency	1.50%
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	$ 97
Other short-duration insurance lines
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Liabilities for claims and claim adjustment expenses, net of reinsurance	$ 3

Insurance - Average Annual Perc

Insurance - Average Annual Percentage Payout of Incurred Claims (Details) - Credit Insurance	Dec. 31, 2023
Claims Development [Line Items]
Year One	60.60%
Year Two	26.90%
Year Three	6.20%
Year Four	3.30%
Year Five	1.50%

Insurance - Present Value of Ex

Insurance - Present Value of Expected Net Premium And Future Policy Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	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	5	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		(11)	17
Adjusted balance at beginning of period		231	277
Interest accretion	13	14
Net premiums collected	(32)	(47)
Ending balance at original discount rate	212	244	260
Balance at ending of period	217	252	313
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	(12)	(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		(14)	5
Adjusted balance at beginning of period		448	497
Net issuances	3	3
Interest accretion	25	26
Benefit payments	(53)	(60)
Ending balance at original discount rate	423	466	492
Balance at ending of period	435	483	601
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	0	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)	(6)
Adjusted balance at beginning of period		46	53
Interest accretion	2	3
Net premiums collected	(7)	(8)
Ending balance at original discount rate	41	48	59
Balance at ending of period	41	48	69
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	0	(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		0	(7)
Adjusted balance at beginning of period		124	131
Net issuances	1	0
Interest accretion	6	7
Benefit payments	(18)	(13)
Ending balance at original discount rate	113	125	138
Balance at ending of period	$ 113	$ 126	$ 165

Insurance - Net Liability for F

Insurance - Net Liability for Future Policy Benefits (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Term and Whole Life
Liability for Future Policy Benefit, Activity [Line Items]
Net liability for future policy benefits	$ 218	$ 231
Deferred profit liability	14	16
Total net liability for future policy benefits	232	247
Accidental Death and Disability Protection
Liability for Future Policy Benefit, Activity [Line Items]
Net liability for future policy benefits	72	78
Deferred profit liability	51	57
Total net liability for future policy benefits	$ 123	$ 135

Insurance - Reconciliation of N

Insurance - Reconciliation of Net Liability for Future Policy Benefits To the Consolidated Statements of Financial Position (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Liability for Future Policy Benefit, Activity [Line Items]
Insurance claims and policyholder liabilities	$ 615	$ 620	$ 693	$ 718
Term and Whole Life
Liability for Future Policy Benefit, Activity [Line Items]
Total net liability for future policy benefits	232	247
Accidental Death and Disability Protection
Liability for Future Policy Benefit, Activity [Line Items]
Total net liability for future policy benefits	123	135
Other
Liability for Future Policy Benefit, Activity [Line Items]
Other	$ 260	$ 238

Insurance - Undiscounted and Di

Insurance - Undiscounted and Discounted Expected Gross Premiums And Expected Future Benefits (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Term and Whole Life
Expected future gross premiums:
Undiscounted	$ 430	$ 472
Discounted	311	345
Expected future benefit payments:
Undiscounted	607	674
Discounted	435	483
Accidental Death and Disability Protection
Expected future gross premiums:
Undiscounted	146	164
Discounted	106	119
Expected future benefit payments:
Undiscounted	166	183
Discounted	$ 113	$ 126

Insurance - Consolidated Statem

Insurance - Consolidated Statements of Operations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Term and Whole Life
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums or assessments	$ 57	$ 62	$ 69
Interest accretion	12	12	13
Accidental Death and Disability Protection
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums or assessments	19	20	23
Interest accretion	$ 4	$ 4	$ 4

Insurance - Actuarial Assumptio

Insurance - Actuarial Assumptions (Details)	Dec. 31, 2023	Dec. 31, 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	0.0032	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	0.0294	0.0235
Measurement Input, Lapses, Expected | Accidental Death and Disability Protection
Market Risk Benefit [Line Items]
Market risk benefit, measurement input	0.0194	0.0193
Measurement Input, Lapses, Actual | Term and Whole Life
Market Risk Benefit [Line Items]
Market risk benefit, measurement input	0.0239	0.0205
Measurement Input, Lapses, Actual | Accidental Death and Disability Protection
Market Risk Benefit [Line Items]
Market risk benefit, measurement input	0.0212	0.0292

Insurance - Weighted-Average In

Insurance - Weighted-Average Interest Rates for the Liability of Future Policy Benefits (Details)	Dec. 31, 2023	Dec. 31, 2022
Term and Whole Life
Additional Liability, Long-Duration Insurance [Line Items]
Interest accretion rate	5.28%	5.26%
Current discount rate	4.98%	4.83%
Accidental Death and Disability Protection
Additional Liability, Long-Duration Insurance [Line Items]
Interest accretion rate	4.87%	4.86%
Current discount rate	4.98%	4.80%

Insurance - Statutory Net Incom

Insurance - Statutory Net Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property and casualty | Triton
Statutory Accounting Practices [Line Items]
Statutory net income for insurance companies	$ 46	$ 58	$ 66
Life and health | AHL
Statutory Accounting Practices [Line Items]
Statutory net income for insurance companies	$ 100	$ 98	$ 79

Insurance - Statutory Capital a

Insurance - Statutory Capital and Surplus for Insurance Companies (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Property and casualty | Triton
Statutory Accounting Practices [Line Items]
Statutory capital and surplus for insurance companies	$ 180	$ 210
Life and health | AHL
Statutory Accounting Practices [Line Items]
Statutory capital and surplus for insurance companies	$ 279	$ 387

Insurance - Ordinary Dividends

Insurance - Ordinary Dividends Paid (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Triton
Dividends Payable [Line Items]
Ordinary dividends paid	$ 58	$ 50	$ 0
Extraordinary dividends paid	23	0	0
AHL
Dividends Payable [Line Items]
Ordinary dividends paid	98	0	50
Extraordinary dividends paid	$ 107	$ 0	$ 0

Capital Stock and Earnings Pe_3

Capital Stock and Earnings Per Share (OMH Only) - Additional Information (Details)	12 Months Ended
	Dec. 31, 2023 class
OMH
Class of Stock [Line Items]
Number of classes of authorized stock	2
OMFC
Class of Stock [Line Items]
Number of classes of authorized stock	2

Capital Stock and Earnings Pe_4

Capital Stock and Earnings Per Share - Par Value and Shares Authorized (Details) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
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
OMH
Class of Stock [Line Items]
Preferred/Special Stock, Par value (in dollars per share)	$ 0.01
Common Stock, Par value (in dollars per share)	$ 0.01
Preferred/Special Stock, Shares authorized (in shares)	300,000,000
Common Stock, Shares authorized (in shares)	2,000,000,000
OMFC
Class of Stock [Line Items]
Common Stock, Par value (in dollars per share)	$ 0.50	$ 0.50
Common Stock, Shares authorized (in shares)	25,000,000	25,000,000
Special Stock, Par value (in dollars per share)	$ 0
Special Stock, Shares authorized (in shares)	25,000,000

Capital Stock and Earnings Pe_5

Capital Stock and Earnings Per Share (OMH Only) - Changes in Shares Issued and Outstanding (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	121,042,125	127,809,640	134,341,724
Common stock issued (in shares)	285,480	333,038	180,839
Common stock repurchased (in shares)	(1,651,717)	(7,181,023)	(6,712,923)
Treasury stock issued (in shares)	81,389	80,470	0
Ending balance (in shares)	119,757,277	121,042,125	127,809,640

Capital Stock and Earnings Pe_6

Capital Stock and Earnings Per Share - Special Stock and Common Stock Outstanding (OMH Only) (Details) - shares	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Special Stock, Shares outstanding (in shares)	0
Common stock, shares issued (in shares)	119,757,277	121,042,125
Common stock, shares outstanding (in shares)	119,757,277	121,042,125	127,809,640	134,341,724
OMFC
Class of Stock [Line Items]
Special Stock, Shares issued (in shares)	0	0
Special Stock, Shares outstanding (in shares)		0
Common stock, shares issued (in shares)	10,160,021	10,160,021
Common stock, shares outstanding (in shares)	10,160,021	10,160,021

Capital Stock and Earnings Pe_7

Capital Stock and Earnings Per Share (OMH Only) - Computation of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Numerator (basic and diluted):
Net income	$ 641	$ 872	$ 1,314
Denominator:
Weighted average number of shares outstanding (basic) (in shares)	120,382,227	124,178,643	132,653,889
Effect of dilutive securities (in shares)	247,363	238,631	400,605
Weighted average number of shares outstanding (diluted) (in shares)	120,629,590	124,417,274	133,054,494
Earnings per share:
Basic (in dollars per share)	$ 5.33	$ 7.02	$ 9.91
Diluted (in dollars per share)	$ 5.32	$ 7.01	$ 9.88
Restricted stock units
Earnings per share:
Shares excluded in the diluted earnings per share calculation (in shares)	1,048,970	1,335,442	421,511

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	$ 3,015	$ 3,037	$ 3,441
Other comprehensive income (loss) before reclassifications	40	(131)	(12)
Reclassification adjustments from accumulated other comprehensive income		(1)	(1)
Balance at end of period	3,186	3,015	3,037
Cumulative Effect, Period Of Adoption, Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	12		(76)
Balance at end of period		12
Cumulative Effect, Period Of Adoption, Adjusted Balance
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	3,027		3,365
Balance at end of period		3,027
Unrealized Gains (Losses) Available-for-Sale Securities
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	(131)	49	91
Other comprehensive income (loss) before reclassifications	38	(179)	(41)
Reclassification adjustments from accumulated other comprehensive income		(1)	(1)
Balance at end of period	(93)	(131)	49
Unrealized Gains (Losses) Available-for-Sale Securities | Cumulative Effect, Period Of Adoption, Adjusted Balance
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period			91
Retirement Plan Liabilities Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	(8)	1	1
Other comprehensive income (loss) before reclassifications	0	(9)	0
Reclassification adjustments from accumulated other comprehensive income		0	0
Balance at end of period	(8)	(8)	1
Retirement Plan Liabilities Adjustments | Cumulative Effect, Period Of Adoption, Adjusted Balance
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period			1
Foreign Currency Translation Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	(5)	3	2
Other comprehensive income (loss) before reclassifications	3	(8)	1
Reclassification adjustments from accumulated other comprehensive income		0	0
Balance at end of period	(2)	(5)	3
Foreign Currency Translation Adjustments | Cumulative Effect, Period Of Adoption, Adjusted Balance
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period			2
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	(8)	(56)	0
Other comprehensive income (loss) before reclassifications	3	48	20
Reclassification adjustments from accumulated other comprehensive income		0	0
Balance at end of period	(5)	(8)	(56)
Changes in discount rate for insurance claims and policyholder liabilities | Cumulative Effect, Period Of Adoption, Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period			(76)
Changes in discount rate for insurance claims and policyholder liabilities | Cumulative Effect, Period Of Adoption, Adjusted Balance
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period			(76)
Other
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	25	8	0
Other comprehensive income (loss) before reclassifications	(4)	17	8
Reclassification adjustments from accumulated other comprehensive income		0	0
Balance at end of period	21	25	8
Other | Cumulative Effect, Period Of Adoption, Adjusted Balance
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period			0
Accumulated Other Comprehensive Income (Loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	(127)	5	94
Balance at end of period	(87)	(127)	5
Accumulated Other Comprehensive Income (Loss) | Cumulative Effect, Period Of Adoption, Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period			(76)
Accumulated Other Comprehensive Income (Loss) | Cumulative Effect, Period Of Adoption, Adjusted Balance
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	$ (127)		$ 18
Balance at end of period		$ (127)

Income Taxes - Components of In

Income Taxes - Components of Income Before Income Tax Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income before income tax expense - U.S. operations	$ 817	$ 1,134	$ 1,722
Income before income tax expense - foreign operations	23	21	19
Income before income taxes	$ 840	$ 1,155	$ 1,741

Income Taxes - Components of _2

Income Taxes - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current:
Federal	$ 194	$ 288	$ 298
Foreign	4	4	1
State	37	55	50
Total current	235	347	349
Deferred:
Federal	(25)	(53)	55
State	(11)	(11)	23
Total deferred	(36)	(64)	78
Total	$ 199	$ 283	$ 427

Income Taxes - Reconciliations

Income Taxes - Reconciliations of The Statutory Federal Income Tax Rate to the Effective Income Tax Rate (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Statutory federal income tax rate	21%	21%	21%
State income taxes, net of federal	2.56%	2.93%	3.27%
Change in valuation allowance	0.93%	0.18%	0.24%
Nondeductible compensation	0.30%	0.48%	0.50%
Other, net	(1.19%)	(0.06%)	(0.45%)
Effective income tax rate	23.60%	24.53%	24.56%

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of the Beginning and Ending Balances of the Total Amounts of Gross Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of year	$ 6	$ 8	$ 10
Increases in tax positions for current years	6	0	2
Lapse in statute of limitations	(1)	(3)	(2)
Increases in tax positions for prior years	0	1	2
Settlements with tax authorities	0	0	(4)
Balance at end of year	$ 11	$ 6	$ 8

Income Taxes - Components of De

Income Taxes - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Allowance for loan losses	$ 614	$ 573
Net operating losses and tax credits	46	35
Capitalized research and experimental costs	34	29
Insurance reserves	27	28
Pension/employee benefits	27	24
Fair value of equity and securities investments	19	29
Other	40	28
Total	807	746
Deferred tax liabilities:
Goodwill	188	166
Debt fair value adjustment	42	42
Deferred loan fees	27	25
Fixed assets	14	16
Other	22	11
Total	293	260
Net deferred tax assets before valuation allowance	514	486
Valuation allowance	(37)	(30)
Net deferred tax assets	$ 477	$ 456

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - State - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Investments, Owned, Federal Income Tax Note [Line Items]
Net operating loss carryforwards	$ 601	$ 480
Valuation allowance	$ 27	$ 24

Leases and Contingencies - Leas

Leases and Contingencies - Leases Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Operating right-of-use asset balance	$ 165	$ 152
Operating lease liability balance	$ 173	$ 161
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	9 years

Leases and Contingencies - Matu

Leases and Contingencies - Maturities of Lease Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2024	$ 64
2025	53
2026	39
2027	25
2028	10
2029	3
Thereafter	1
Total lease payments	195
Imputed interest	(22)
Total	$ 173	$ 161
Weighted Average Remaining Lease Term	3 years 7 months 20 days
Weighted Average Discount Rate	4.07%

Leases and Contingencies - Othe

Leases and Contingencies - Other operating expenses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Operating lease cost	$ 63	$ 58	$ 60
Variable lease cost	15	14	15
Total	$ 78	$ 72	$ 75

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

Retirement Benefit Plans - 401(

Retirement Benefit Plans - 401(K) Plans (Details) - UNITED STATES - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Maximum employer matching contribution	100%
Percentage of employee salary eligible for employer matching contribution	4%
Salaries and benefit expenses related to plan	$ 19	$ 19	$ 17

Retirement Benefits Plans - Def

Retirement Benefits Plans - Defined Benefit Plans (Details) - Pension Plan	12 Months Ended
	Dec. 31, 2023
UNITED STATES
Defined Benefit Plan Disclosure [Line Items]
Minimum eligibility age to participate in the plan	21 years
Continuous service period required to participate in the plan	12 months
Vesting period	5 years
Normal retirement age	65 years
Maximum credited service period	44 years
Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Minimum eligibility age to participate in the plan	21 years
Continuous service period required to participate in the plan	1 year

Retirement Benefit Plans - Obli

Retirement Benefit Plans - Obligations and Funded Status (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) benefitPlan	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Fair value of plan assets
Fair value of plan assets, beginning of period	$ 278
Benefits paid:
Fair value of plan assets, end of period	283	$ 278
Pension Plan
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Projected benefit obligation, beginning of period	275	374	$ 401
Interest cost	13	8	7
Actuarial loss (gain)	5	(91)	(18)
Benefits paid:
Plan assets	(16)	(16)	(16)
Projected benefit obligation, end of period	277	275	374
Fair value of plan assets
Fair value of plan assets, beginning of period	278	383	405
Actual return on plan assets, net of expenses	20	(90)	(7)
Company contributions	1	1	1
Benefits paid:
Plan assets	(16)	(16)	(16)
Fair value of plan assets, end of period	283	278	383
Funded status, end of period	6	3	9
Other assets recognized in the consolidated balance sheet	6	3	9
Pretax net gain (loss) recognized in accumulated other comprehensive income (loss)	(9)	(10)	2
Pension Plan | Defined Benefit Plan, Overfunded Plan
Benefits paid:
Funded status, end of period	$ 17	14	22
Number of overfunded benefit plans | benefitPlan	1
Pension Plan | Defined Benefit Plan, Underfunded Plan
Benefits paid:
Funded status, end of period	$ 11	$ 11	$ 13
Number of underfunded benefit plans | benefitPlan	3

Retirement Benefit Plans - PBO

Retirement Benefit Plans - PBO and ABO and Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other changes in plan assets and projected benefit obligation recognized in other comprehensive income or loss:
Total recognized in other comprehensive income	$ 0	$ 12	$ 1
Pension Plan
Components of net periodic benefit cost:
Interest cost	13	8	7
Expected return on assets	(15)	(13)	(12)
Net periodic benefit cost	(2)	(5)	(5)
Other changes in plan assets and projected benefit obligation recognized in other comprehensive income or loss:
Net actuarial loss	0	12	1
Total recognized in other comprehensive income	0	12	1
Total recognized in net periodic benefit cost and other comprehensive income	$ (2)	$ 7	$ (4)

Retirement Benefit Plans - Assu

Retirement Benefit Plans - Assumptions (Details) - Pension Plan	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Projected benefit obligation:
Discount rate	4.76%	4.96%
Net periodic benefit costs:
Discount rate	4.96%	2.67%
Expected long-term rate of return on plan assets	5.54%	3.54%

Retirement Benefit Plans - Allo

Retirement Benefit Plans - Allocation of Plan Assets (Details) - Pension Plan	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Expected long-term rate of return on plan assets	5.54%	3.54%
UNITED STATES
Defined Benefit Plan Disclosure [Line Items]
Expected long-term rate of return on plan assets	5.50%
Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Expected long-term rate of return on plan assets	6.75%
Fixed income securities
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation	95%
Target asset allocation	96%
Equity securities
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation	5%
Target asset allocation	4%

Retirement Benefit Plans - Expe

Retirement Benefit Plans - Expected Cash Flows (Details) - Pension Plan $ in Millions	Dec. 31, 2023 USD ($)
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]
2024	$ 18
2025	17
2026	18
2027	18
2028	18
2029-2033	$ 91

Retirement Benefit Plans - Fair

Retirement Benefit Plans - Fair Value of Plan Assets (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets	$ 283	$ 278
Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets	202	216
Level 1
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets	13	21
Level 2
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets	189	195
Level 3
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets	0	0
Fair value measured at NAV
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets	81	62
Cash and cash equivalents | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets	1	3
Cash and cash equivalents | Level 1
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets	1	3
Cash and cash equivalents | Level 2
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets	0	0
Cash and cash equivalents | Level 3
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets	0	0
Equity securities: U.S. | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets	1	1
Equity securities: U.S. | Level 1
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets	1	1
Equity securities: U.S. | Level 2
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets	0	0
Equity securities: U.S. | Level 3
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets	0	0
Equity securities: International | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets	1	1
Equity securities: International | Level 1
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets	1	1
Equity securities: International | Level 2
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets	0	0
Equity securities: International | Level 3
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets	0	0
Fixed income securities: U.S. investment grade | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets	196	208
Fixed income securities: U.S. investment grade | Level 1
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets	10	16
Fixed income securities: U.S. investment grade | Level 2
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets	186	192
Fixed income securities: U.S. investment grade | Level 3
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets	0	0
Fixed income securities: U.S. high yield | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets	3	3
Fixed income securities: U.S. high yield | Level 1
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets	0	0
Fixed income securities: U.S. high yield | Level 2
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets	3	3
Fixed income securities: U.S. high yield | Level 3
Defined Benefit Plan Disclosure [Line Items]
Total fair value of plan assets	$ 0	$ 0

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Jan. 01, 2022
Share-Based Compensation Plan and Restricted Stock Units and Awards
Number of shares of common stock authorized (in shares)	11,422,479
Percentage of number of outstanding shares over number of shares reserved and available for issuance by which number of shares reserved is adjusted	10%
Share-based compensation expense	$ 34	$ 29	$ 22
Total income tax benefit recognized for stock-based compensation	9	$ 7	$ 6
Unrecognized compensation expense	$ 38
Weighted average period over which unrecognized compensation expense expected is to be recognized	2 years
Treasury stock issued (in shares)	81,389	80,470	0
Service-based Awards
Share-Based Compensation Plan and Restricted Stock Units and Awards
Granted during the period (in dollars per share)	$ 42.09	$ 50.43	$ 55.39
Fair value of service based awards vested in period	$ 21	$ 18	$ 12
Restricted stock units | Minimum
Share-Based Compensation Plan and Restricted Stock Units and Awards
Vesting period of award without rights	1 year
Restricted stock units | Maximum
Share-Based Compensation Plan and Restricted Stock Units and Awards
Vesting period of award without rights	5 years
PRSUs
Share-Based Compensation Plan and Restricted Stock Units and Awards
Granted during the period (in dollars per share)	$ 44.69	$ 50.34	$ 40.62
Fair value of service based awards vested in period			$ 0
PRSUs | Median
Share-Based Compensation Plan and Restricted Stock Units and Awards
Achievement of performance goal	3 years
PRSUs | Maximum
Share-Based Compensation Plan and Restricted Stock Units and Awards
Achievement of performance goal	7 years
Cash-Settled Stock-Based Awards
Share-Based Compensation Plan and Restricted Stock Units and Awards
Share-based compensation expense			$ 54
Employee Stock
Share-Based Compensation Plan and Restricted Stock Units and Awards
Number of shares of common stock authorized (in shares)				1,000,000

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Stock Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Service-based Awards
Number of Shares
Unvested as of beginning of period (in shares)	740,415
Granted (in shares)	676,288
Vested (in shares)	(436,822)
Forfeited (in shares)	(9,785)
Unvested as of end of period (in shares)	970,096	740,415
Weighted Average Grant Date Fair Value
Unvested as of beginning of period (in dollars per share)	$ 51.43
Granted (in dollars per share)	42.09	$ 50.43	$ 55.39
Vested (in dollars per share)	48.92
Forfeited (in dollars per share)	45.79
Unvested as of end of period (in dollars per share)	$ 46.10	$ 51.43
Weighted Average Remaining Term (in Years)	1 year 8 months 12 days
PRSUs
Number of Shares
Unvested as of beginning of period (in shares)	917,746
Granted (in shares)	270,921
Vested (in shares)	(81,728)
Forfeited (in shares)	(51,960)
Unvested as of end of period (in shares)	1,054,979	917,746
Weighted Average Grant Date Fair Value
Unvested as of beginning of period (in dollars per share)	$ 41.77
Granted (in dollars per share)	44.69	$ 50.34	$ 40.62
Vested (in dollars per share)	42.59
Forfeited (in dollars per share)	42.04
Unvested as of end of period (in dollars per share)	$ 42.44	$ 41.77
Weighted Average Remaining Term (in Years)	1 year 8 months 8 days

Segment Information - Narrative

Segment Information - Narrative (Details)	12 Months Ended
	Dec. 31, 2023 segment
Segment Reporting [Abstract]
Number of reportable segments	1

Segment Information - Schedule

Segment Information - Schedule of Segment Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Interest income	$ 4,564	$ 4,435	$ 4,364
Interest expense	1,019	892	937
Provision for finance receivable losses	1,721	1,402	593
Net interest income after provision for finance receivable losses	1,824	2,141	2,834
Total other revenues	735	629	531
Total other expenses	1,719	1,615	1,624
Income before income taxes	840	1,155	1,741
Total assets	24,294	22,537	22,095
Consumer and Insurance | Consumer and Insurance
Segment Reporting Information [Line Items]
Interest income	4,559	4,429	4,355
Interest expense	1,015	886	930
Provision for finance receivable losses	1,721	1,399	587
Net interest income after provision for finance receivable losses	1,823	2,144	2,838
Total other revenues	727	618	527
Total other expenses	1,705	1,593	1,577
Income before income taxes	845	1,169	1,788
Total assets	23,056	20,491	20,035
Other
Segment Reporting Information [Line Items]
Interest income	4	5	5
Interest expense	2	3	3
Provision for finance receivable losses	0	0	0
Net interest income after provision for finance receivable losses	2	2	2
Total other revenues	8	12	12
Total other expenses	16	14	21
Income before income taxes	(6)	0	(7)
Total assets	20	35	40
Segment to GAAP Adjustment
Segment Reporting Information [Line Items]
Interest income	1	1	4
Interest expense	2	3	4
Provision for finance receivable losses	0	3	6
Net interest income after provision for finance receivable losses	(1)	(5)	(6)
Total other revenues	0	(1)	(8)
Total other expenses	(2)	8	26
Income before income taxes	1	(14)	(40)
Total assets	$ 1,218	$ 2,011	$ 2,020

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value & Carrying Value Hierarchy Basis (Details) - USD ($) $ in Millions		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Assets
Restricted cash and restricted cash equivalents	[1]	$ 534	$ 461	$ 476
Total Fair Value
Assets
Cash and cash equivalents		1,014	498
Investment securities		1,719	1,800
Net finance receivables, less allowance for finance receivable losses		20,490	19,272
Restricted cash and restricted cash equivalents		534	461
Other assets		40	43
Liabilities
Long-term debt		19,457	16,969
Total Carrying Value
Assets
Cash and cash equivalents		1,014	498
Investment securities		1,719	1,800
Net finance receivables, less allowance for finance receivable losses		18,869	17,675
Restricted cash and restricted cash equivalents		534	461
Other assets		29	35
Liabilities
Long-term debt		19,813	18,281
Level 1
Assets
Cash and cash equivalents		1,014	481
Investment securities		54	51
Net finance receivables, less allowance for finance receivable losses		0	0
Restricted cash and restricted cash equivalents		534	450
Other assets		0	0
Liabilities
Long-term debt		0	0
Level 2
Assets
Cash and cash equivalents		0	17
Investment securities		1,662	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		19,457	16,969
Level 3
Assets
Cash and cash equivalents		0	0
Investment securities		3	5
Net finance receivables, less allowance for finance receivable losses		20,490	19,272
Restricted cash and restricted cash equivalents		0	0
Other assets		40	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		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities		$ 1,647	$ 1,729
Other securities		72	71
Restricted cash and restricted cash equivalents	[1]	534	461	$ 476
U.S. government and government sponsored entities
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities		17	16
Obligations of states, municipalities, and political subdivisions
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities		66	66
Corporate debt
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities		1,085	1,137
RMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities		180	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		85	86
Level 1
Investments, Debt and Equity Securities [Abstract]
Total investment securities		54	51
Restricted cash and restricted cash equivalents		534	450
Level 2
Investments, Debt and Equity Securities [Abstract]
Total investment securities		1,662	1,744
Restricted cash and restricted cash equivalents		0	11
Level 3
Investments, Debt and Equity Securities [Abstract]
Total investment securities		3	5
Restricted cash and restricted cash equivalents		0	0
Fair Value, Measurements, Recurring
Assets
Cash equivalents in mutual funds		97	77
Cash equivalents in securities			17
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities		1,647	1,729
Other securities		72	71
Total investment securities		1,719	1,800
Restricted cash equivalents in mutual funds		525	445
Restricted cash and restricted cash equivalents			11
Total		2,341	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		17	16
Fair Value, Measurements, Recurring | Obligations of states, municipalities, and political subdivisions
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities		66	66
Fair Value, Measurements, Recurring | Commercial paper
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities		14	55
Fair Value, Measurements, Recurring | Non-U.S. government and government sponsored entities
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities		167	142
Fair Value, Measurements, Recurring | Corporate debt
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities		1,085	1,137
Other securities		4	6
Fair Value, Measurements, Recurring | RMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities		180	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		85	86
Other securities		18	16
Fair Value, Measurements, Recurring | Preferred stock
Investments, Debt and Equity Securities [Abstract]
Other securities		16	15
Fair Value, Measurements, Recurring | Common stock
Investments, Debt and Equity Securities [Abstract]
Other securities		34	33
Fair Value, Measurements, Recurring | Level 1
Assets
Cash equivalents in mutual funds		97	77
Cash equivalents in securities			0
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities		6	5
Other securities		48	46
Total investment securities		54	51
Restricted cash equivalents in mutual funds		525	445
Restricted cash and restricted cash equivalents			0
Total		676	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		16	15
Fair Value, Measurements, Recurring | Level 1 | Common stock
Investments, Debt and Equity Securities [Abstract]
Other securities		32	31
Fair Value, Measurements, Recurring | Level 2
Assets
Cash equivalents in mutual funds		0	0
Cash equivalents in securities			17
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities		1,640	1,721
Other securities		22	23
Total investment securities		1,662	1,744
Restricted cash equivalents in mutual funds		0	0
Restricted cash and restricted cash equivalents			11
Total		1,662	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		17	16
Fair Value, Measurements, Recurring | Level 2 | Obligations of states, municipalities, and political subdivisions
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities		66	66
Fair Value, Measurements, Recurring | Level 2 | Commercial paper
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities		14	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		167	142
Fair Value, Measurements, Recurring | Level 2 | Corporate debt
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities		1,078	1,129
Other securities		4	6
Fair Value, Measurements, Recurring | Level 2 | RMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities		180	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		85	86
Other securities		18	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
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities		1	3
Other securities		2	2
Total investment securities		3	5
Restricted cash equivalents in mutual funds		0	0
Restricted cash and restricted cash equivalents			0
Total		3	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		1	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.

Uncategorized Items - omf-20231

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2016-13 [Member]
OneMain Finance Corporation [Member]
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2016-13 [Member]