Onemain Finance 10-Q 1 May 24 2024 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2024	Apr. 23, 2024
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	001-36129
Entity Registrant Name	ONEMAIN HOLDINGS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	27-3379612
Entity Address, Address Line One	601 N.W. Second Street
Entity Address, City or Town	Evansville
Entity Address, State or Province	IN
Entity Address, Postal Zip Code	47708
City Area Code	812
Local Phone Number	424-8031
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	OMF
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		119,808,695
Entity Central Index Key	0001584207
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
OMFC
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-06155
Entity Registrant Name	ONEMAIN FINANCE CORPORATION
Entity Incorporation, State or Country Code	IN
Entity Tax Identification Number	35-0416090
Entity Address, Address Line One	601 N.W. Second Street
Entity Address, City or Town	Evansville
Entity Address, State or Province	IN
Entity Address, Postal Zip Code	47708
City Area Code	812
Local Phone Number	424-8031
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		10,160,021
Entity Central Index Key	0000025598
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Mar. 31, 2024		Dec. 31, 2023
Assets
Cash and cash equivalents	$ 831		$ 1,014
Investment securities (includes available-for-sale securities with a fair value and an amortized cost basis of $1.6 billion and $1.7 billion in 2024, respectively, and $1.6 billion and $1.8 billion in 2023, respectively)	1,691		1,719
Net finance receivables (includes loans of consolidated VIEs of $12.6 billion in 2024 and $12.8 billion in 2023)	21,083		21,349
Unearned insurance premium and claim reserves	(749)		(771)
Allowance for finance receivable losses (includes allowance of consolidated VIEs of $1.4 billion in 2024 and 2023)	(2,454)		(2,480)
Net finance receivables, less unearned insurance premium and claim reserves and allowance for finance receivable losses	17,880		18,098
Restricted cash and restricted cash equivalents (includes restricted cash and restricted cash equivalents of consolidated VIEs of $576 million in 2024 and $523 million in 2023)	599	[1]	534
Goodwill	1,437		1,437
Other intangible assets	259		260
Other assets	1,211		1,232
Total assets	23,908		24,294
Liabilities and Shareholders’ Equity
Long-term debt (includes debt of consolidated VIEs of $11.4 billion in 2024 and $11.6 billion in 2023)	19,520		19,813
Insurance claims and policyholder liabilities	597		615
Deferred and accrued taxes	34		9
Other liabilities (includes other liabilities of consolidated VIEs of $26 million in 2024 and 2023)	543		671
Total liabilities	20,694		21,108
Contingencies (Note 12)
Shareholders’ equity:
Common stock, par value $0.00000001 per share; 2,000 shares authorized, 120 and 120 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively	1		1
Additional paid-in capital	1,718		1,715
Accumulated other comprehensive loss	(91)		(87)
Retained earnings	2,318		2,285
Treasury stock, at cost; 15 and 15 shares at March 31, 2024 and December 31, 2023, respectively	(732)		(728)
Total shareholders’ equity	3,214		3,186
Total liabilities and shareholders’ equity	$ 23,908		$ 24,294
[1] Restricted cash and restricted cash equivalents primarily represent funds required to be used for future debt payments relating to our secured transactions.

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2024		Dec. 31, 2023
Investment securities, fair value	$ 1,618		$ 1,647
Investment securities, amortized cost basis	1,743		1,765
Net finance receivables	21,083		21,349
Financing receivable, allowance for credit loss	2,454		2,480
Restricted cash and restricted cash equivalents	599	[1]	534
Long-term debt	19,520		19,813
Other liabilities	$ 543		$ 671
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)	119,877,252		119,757,277
Common stock, shares outstanding (in shares)	119,877,252		119,757,277
Treasury stock at cost (in shares)	15,475,531		15,383,804
Consolidated VIEs
Net finance receivables	$ 12,641		$ 12,780
Financing receivable, allowance for credit loss	1,429		1,428
Restricted cash and restricted cash equivalents	576		523
Long-term debt	11,420		11,579
Other liabilities	$ 26		$ 26
[1] Restricted cash and restricted cash equivalents primarily represent funds required to be used for future debt payments relating to our secured transactions.

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Interest income	$ 1,173	$ 1,094
Interest expense	277	239
Net interest income	896	855
Provision for finance receivable losses	431	385
Net interest income after provision for finance receivable losses	465	470
Other revenues:
Insurance	112	111
Investment	32	25
Gain on sales of finance receivables	6	17
Other	30	24
Total other revenues	180	177
Other expenses:
Salaries and benefits	224	212
Other operating expenses	167	153
Insurance policy benefits and claims	50	47
Total other expenses	441	412
Income before income taxes	204	235
Income taxes	49	56
Net income	$ 155	$ 179
Weighted average number of shares outstanding:
Basic (in shares)	119,829,174	120,765,661
Diluted (in shares)	120,244,669	120,969,891
Earnings per share:
Basic (in dollars per share)	$ 1.29	$ 1.48
Diluted (in dollars per share)	$ 1.29	$ 1.48

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 155	$ 179
Other comprehensive income (loss):
Net change in unrealized gains (losses) on non-credit impaired available-for-sale securities	(8)	24
Foreign currency translation adjustments	(4)	0
Changes in discount rate for insurance claims and policyholder liabilities	7	4
Other	0	(3)
Income tax effect:
Net change in unrealized gains (losses) on non-credit impaired available-for-sale securities	2	(5)
Foreign currency translation adjustments	1	0
Changes in discount rate for insurance claims and policyholder liabilities	(2)	(1)
Other comprehensive income (loss), net of tax	(4)	19
Comprehensive income	$ 151	$ 198

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholder's Equity (Unaudited) - USD ($) $ in Millions		Total	Net impact of adoption of ASU 2022-02	[1]	Cumulative Effect, Period Of Adoption, Adjusted Balance	Common Stock	Common Stock Cumulative Effect, Period Of Adoption, Adjusted Balance	Additional Paid-in Capital	Additional Paid-in Capital Cumulative Effect, Period Of Adoption, Adjusted Balance	Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Cumulative Effect, Period Of Adoption, Adjusted Balance	Retained Earnings	Retained Earnings Net impact of adoption of ASU 2022-02	[1]	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, 2022		$ 3,015	$ 12		$ 3,027	$ 1	$ 1	$ 1,689	$ 1,689	$ (127)	$ (127)	$ 2,119	$ 12		$ 2,131	$ (667)	$ (667)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock repurchased		(27)														(27)
Treasury stock issued		1														1
Share-based compensation expense, net of forfeitures		12						12
Withholding tax on share-based compensation		(8)						(8)
Other comprehensive income (loss)		19								19
Cash dividends	[2]	(122)										(122)
Net income		179										179
Balance at end of period at Mar. 31, 2023		3,081				1		1,693		(108)		2,188				(693)
Balance at beginning of period at Dec. 31, 2023		3,186				1		1,715		(87)		2,285				(728)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock repurchased		(5)														(5)
Treasury stock issued		1														1
Share-based compensation expense, net of forfeitures		11						11
Withholding tax on share-based compensation		(8)						(8)
Other comprehensive income (loss)		(4)								(4)
Cash dividends	[2]	(122)										(122)
Net income		155										155
Balance at end of period at Mar. 31, 2024		$ 3,214				$ 1		$ 1,718		$ (91)		$ 2,318				$ (732)
[1] (b) As a result of the adoption of ASU 2022-02, we recorded a one-time cumulative increase to retained earnings, net of tax. See Note 3 of the Notes to the Consolidated Financial Statements in Part II - Item 8 of our Annual Report for additional information on the adoption of ASU 2022-02. (a) Cash dividends declared were $1.00 per share during the three months ended March 31, 2024 and 2023.

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Shareholder's Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Dividends declared (in dollars per share)	$ 1	$ 1

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Net Cash Provided by (Used in) Operating Activities, Continuing Operations [Abstract]
Net income		$ 155	$ 179
Reconciling adjustments:
Provision for finance receivable losses		431	385
Depreciation and amortization		66	61
Deferred income tax charge		15	9
Share-based compensation expense, net of forfeitures		11	12
Gain on sales of finance receivables		(6)	(17)
Other		(1)	(1)
Cash flows due to changes in other assets and other liabilities		(113)	(66)
Net cash provided by operating activities		558	562
Cash flows from investing activities
Net principal originations and purchases of finance receivables		(345)	(432)
Proceeds from sales of finance receivables		117	200
Available-for-sale securities purchased		(64)	(44)
Available-for-sale securities called, sold, and matured		78	88
Other securities purchased		(4)	(2)
Other securities called, sold, and matured		5	2
Other, net		(20)	(16)
Net cash used for investing activities		(233)	(204)
Cash flows from financing activities
Proceeds from issuance and borrowings of long-term debt, net of issuance costs			843
Payments for debt issuance costs		(6)
Repayments of long-term debt		303	928
Cash dividends		(122)	(123)
Common stock repurchased		(5)	(27)
Treasury stock issued		1	1
Withholding tax on share-based compensation		(8)	(8)
Net cash used for financing activities		(443)	(242)
Net change in cash and cash equivalents and restricted cash and restricted cash equivalents		(118)	116
Cash and cash equivalents and restricted cash and restricted cash equivalents at beginning of period		1,548	959
Cash and cash equivalents and restricted cash and restricted cash equivalents at end of period		1,430	1,075
Supplemental cash flow information
Cash and cash equivalents		831	544
Restricted cash and restricted cash equivalents	[1]	599	531
Total cash and cash equivalents and restricted cash and restricted cash equivalents		$ 1,430	$ 1,075
[1] Restricted cash and restricted cash equivalents primarily represent funds required to be used for future debt payments relating to our secured transactions.

Condensed Consolidated Balanc_3

Condensed Consolidated Balance Sheets (Unaudited) - OMFC - USD ($) $ in Millions	Mar. 31, 2024		Dec. 31, 2023
Assets
Cash and cash equivalents	$ 831		$ 1,014
Investment securities (includes available-for-sale securities with a fair value and an amortized cost basis of $1.6 billion and $1.7 billion in 2024, respectively, and $1.6 billion and $1.8 billion in 2023, respectively)	1,691		1,719
Net finance receivables (includes loans of consolidated VIEs of $12.6 billion in 2024 and $12.8 billion in 2023)	21,083		21,349
Unearned insurance premium and claim reserves	(749)		(771)
Allowance for finance receivable losses (includes allowance of consolidated VIEs of $1.4 billion in 2024 and 2023)	(2,454)		(2,480)
Net finance receivables, less unearned insurance premium and claim reserves and allowance for finance receivable losses	17,880		18,098
Restricted cash and restricted cash equivalents (includes restricted cash and restricted cash equivalents of consolidated VIEs of $576 million in 2024 and $523 million in 2023)	599	[1]	534
Goodwill	1,437		1,437
Other intangible assets	259		260
Other assets	1,211		1,232
Total assets	23,908		24,294
Liabilities and Shareholders’ Equity
Long-term debt (includes debt of consolidated VIEs of $11.4 billion in 2024 and $11.6 billion in 2023)	19,520		19,813
Insurance claims and policyholder liabilities	597		615
Deferred and accrued taxes	34		9
Other liabilities (includes other liabilities of consolidated VIEs of $26 million in 2024 and 2023)	543		671
Total liabilities	20,694		21,108
Contingencies (Note 12)
Shareholders’ equity:
Common stock, par value $0.50 per share; 25,000,000 shares authorized, 10,160,021 shares issued and outstanding at March 31, 2024 and December 31, 2023	1		1
Additional paid-in capital	1,718		1,715
Accumulated other comprehensive loss	(91)		(87)
Retained earnings	2,318		2,285
Total shareholders’ equity	3,214		3,186
Total liabilities and shareholders’ equity	23,908		24,294
Consolidated VIEs
Assets
Cash and cash equivalents	3		2
Net finance receivables (includes loans of consolidated VIEs of $12.6 billion in 2024 and $12.8 billion in 2023)	12,641		12,780
Allowance for finance receivable losses (includes allowance of consolidated VIEs of $1.4 billion in 2024 and 2023)	(1,429)		(1,428)
Restricted cash and restricted cash equivalents (includes restricted cash and restricted cash equivalents of consolidated VIEs of $576 million in 2024 and $523 million in 2023)	576		523
Other assets	36		32
Liabilities and Shareholders’ Equity
Long-term debt (includes debt of consolidated VIEs of $11.4 billion in 2024 and $11.6 billion in 2023)	11,420		11,579
Other liabilities (includes other liabilities of consolidated VIEs of $26 million in 2024 and 2023)	26		26
OMFC
Assets
Cash and cash equivalents	812		1,011
Investment securities (includes available-for-sale securities with a fair value and an amortized cost basis of $1.6 billion and $1.7 billion in 2024, respectively, and $1.6 billion and $1.8 billion in 2023, respectively)	1,691		1,719
Net finance receivables (includes loans of consolidated VIEs of $12.6 billion in 2024 and $12.8 billion in 2023)	21,083		21,349
Unearned insurance premium and claim reserves	(749)		(771)
Allowance for finance receivable losses (includes allowance of consolidated VIEs of $1.4 billion in 2024 and 2023)	(2,454)		(2,480)
Net finance receivables, less unearned insurance premium and claim reserves and allowance for finance receivable losses	17,880		18,098
Restricted cash and restricted cash equivalents (includes restricted cash and restricted cash equivalents of consolidated VIEs of $576 million in 2024 and $523 million in 2023)	599	[2]	534
Goodwill	1,437		1,437
Other intangible assets	259		260
Other assets	1,211		1,230
Total assets	23,889		24,289
Liabilities and Shareholders’ Equity
Long-term debt (includes debt of consolidated VIEs of $11.4 billion in 2024 and $11.6 billion in 2023)	19,520		19,813
Insurance claims and policyholder liabilities	597		615
Deferred and accrued taxes	35		9
Other liabilities (includes other liabilities of consolidated VIEs of $26 million in 2024 and 2023)	543		672
Total liabilities	20,695		21,109
Contingencies (Note 12)
Shareholders’ equity:
Common stock, par value $0.50 per share; 25,000,000 shares authorized, 10,160,021 shares issued and outstanding at March 31, 2024 and December 31, 2023	5		5
Additional paid-in capital	1,962		1,959
Accumulated other comprehensive loss	(91)		(87)
Retained earnings	1,318		1,303
Total shareholders’ equity	3,194		3,180
Total liabilities and shareholders’ equity	23,889		24,289
OMFC | Consolidated VIEs
Assets
Net finance receivables (includes loans of consolidated VIEs of $12.6 billion in 2024 and $12.8 billion in 2023)	12,600		12,800
Allowance for finance receivable losses (includes allowance of consolidated VIEs of $1.4 billion in 2024 and 2023)	(1,400)		(1,400)
Restricted cash and restricted cash equivalents (includes restricted cash and restricted cash equivalents of consolidated VIEs of $576 million in 2024 and $523 million in 2023)	576		523
Liabilities and Shareholders’ Equity
Long-term debt (includes debt of consolidated VIEs of $11.4 billion in 2024 and $11.6 billion in 2023)	11,400		11,600
Other liabilities (includes other liabilities of consolidated VIEs of $26 million in 2024 and 2023)	$ 26		$ 26
[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.

Condensed Consolidated Balanc_4

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - OMFC - USD ($) $ in Millions	Mar. 31, 2024		Dec. 31, 2023
Investment securities, fair value	$ 1,618		$ 1,647
Investment securities, amortized cost basis	1,743		1,765
Net finance receivables	21,083		21,349
Financing receivable, allowance for credit loss	2,454		2,480
Restricted cash and restricted cash equivalents	599	[1]	534
Long-term debt	19,520		19,813
Other liabilities	$ 543		$ 671
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)	119,877,252		119,757,277
Common stock, shares outstanding (in shares)	119,877,252		119,757,277
OMFC
Investment securities, fair value	$ 1,600		$ 1,600
Investment securities, amortized cost basis	1,700		1,800
Net finance receivables	21,083		21,349
Financing receivable, allowance for credit loss	2,454		2,480
Restricted cash and restricted cash equivalents	599	[2]	534
Long-term debt	19,520		19,813
Other liabilities	$ 543		$ 672
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	$ 12,641		$ 12,780
Financing receivable, allowance for credit loss	1,429		1,428
Restricted cash and restricted cash equivalents	576		523
Long-term debt	11,420		11,579
Other liabilities	26		26
Consolidated VIEs | OMFC
Net finance receivables	12,600		12,800
Financing receivable, allowance for credit loss	1,400		1,400
Restricted cash and restricted cash equivalents	576		523
Long-term debt	11,400		11,600
Other liabilities	$ 26		$ 26
[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.

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Operations (Unaudited) - OMFC - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Interest income	$ 1,173	$ 1,094
Interest expense	277	239
Net interest income	896	855
Provision for finance receivable losses	431	385
Net interest income after provision for finance receivable losses	465	470
Other revenues:
Insurance	112	111
Investment	32	25
Gain on sales of finance receivables	6	17
Other	30	24
Total other revenues	180	177
Other expenses:
Salaries and benefits	224	212
Other operating expenses	167	153
Insurance policy benefits and claims	50	47
Total other expenses	441	412
Income before income taxes	204	235
Income taxes	49	56
Net income	155	179
OMFC
Interest income	1,173	1,094
Interest expense	277	239
Net interest income	896	855
Provision for finance receivable losses	431	385
Net interest income after provision for finance receivable losses	465	470
Other revenues:
Insurance	112	111
Investment	32	25
Gain on sales of finance receivables	6	17
Other	30	24
Total other revenues	180	177
Other expenses:
Salaries and benefits	224	212
Other operating expenses	167	153
Insurance policy benefits and claims	50	47
Total other expenses	441	412
Income before income taxes	204	235
Income taxes	49	56
Net income	$ 155	$ 179

Condensed Consolidated Statem_7

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - OMFC - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Net income	$ 155	$ 179
Other comprehensive income (loss):
Net change in unrealized gains (losses) on non-credit impaired available-for-sale securities	(8)	24
Foreign currency translation adjustments	(4)	0
Changes in discount rate for insurance claims and policyholder liabilities	7	4
Other	0	(3)
Income tax effect:
Net change in unrealized gains (losses) on non-credit impaired available-for-sale securities	2	(5)
Foreign currency translation adjustments	1	0
Changes in discount rate for insurance claims and policyholder liabilities	(2)	(1)
Other comprehensive income (loss), net of tax	(4)	19
Comprehensive income	151	198
OMFC
Net income	155	179
Other comprehensive income (loss):
Net change in unrealized gains (losses) on non-credit impaired available-for-sale securities	(8)	24
Foreign currency translation adjustments	(4)	0
Changes in discount rate for insurance claims and policyholder liabilities	7	4
Other	0	(3)
Income tax effect:
Net change in unrealized gains (losses) on non-credit impaired available-for-sale securities	2	(5)
Foreign currency translation adjustments	1	0
Changes in discount rate for insurance claims and policyholder liabilities	(2)	(1)
Other comprehensive income (loss), net of tax	(4)	19
Comprehensive income	$ 151	$ 198

Condensed Consolidated Statem_8

Condensed Consolidated Statements of Shareholder's Equity (Unaudited) - OMFC - USD ($) $ in Millions	Total		Net impact of adoption of ASU 2022-02	[1]	Cumulative Effect, Period Of Adoption, Adjusted Balance	Common Stock	Common Stock Cumulative Effect, Period Of Adoption, Adjusted Balance	Additional Paid-in Capital	Additional Paid-in Capital Cumulative Effect, Period Of Adoption, Adjusted Balance	Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Cumulative Effect, Period Of Adoption, Adjusted Balance	Retained Earnings		Retained Earnings Net impact of adoption of ASU 2022-02	[1]	Retained Earnings Cumulative Effect, Period Of Adoption, Adjusted Balance	OMFC	OMFC Net impact of adoption of ASU 2022-02	[2]	OMFC Cumulative Effect, Period Of Adoption, Adjusted Balance	OMFC Common Stock	OMFC Common Stock Cumulative Effect, Period Of Adoption, Adjusted Balance	OMFC Additional Paid-in Capital	OMFC Additional Paid-in Capital Cumulative Effect, Period Of Adoption, Adjusted Balance	OMFC Accumulated Other Comprehensive Income (Loss)	OMFC Accumulated Other Comprehensive Income (Loss) Cumulative Effect, Period Of Adoption, Adjusted Balance	OMFC Retained Earnings	OMFC Retained Earnings Net impact of adoption of ASU 2022-02	[2]	OMFC Retained Earnings Cumulative Effect, Period Of Adoption, Adjusted Balance
Balance at beginning of period at Dec. 31, 2022	$ 3,015		$ 12		$ 3,027	$ 1	$ 1	$ 1,689	$ 1,689	$ (127)	$ (127)	$ 2,119		$ 12		$ 2,131	$ 3,004	$ 12		$ 3,016	$ 5	$ 5	$ 1,933	$ 1,933	$ (127)	$ (127)	$ 1,193	$ 12		$ 1,205
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation expense, net of forfeitures	12							12									12						12
Withholding tax on share-based compensation	(8)							(8)									(8)						(8)
Other comprehensive income (loss)	19									19							19								19
Cash dividends	(122)	[3]										(122)	[3]				(150)										(150)
Net income	179											179					179										179
Balance at end of period at Mar. 31, 2023	3,081					1		1,693		(108)		2,188					3,068				5		1,937		(108)		1,234
Balance at beginning of period at Dec. 31, 2023	3,186					1		1,715		(87)		2,285					3,180				5		1,959		(87)		1,303
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation expense, net of forfeitures	11							11									11						11
Withholding tax on share-based compensation	(8)							(8)									(8)						(8)
Other comprehensive income (loss)	(4)									(4)							(4)								(4)
Cash dividends	(122)	[3]										(122)	[3]				(140)										(140)
Net income	155											155					155										155
Balance at end of period at Mar. 31, 2024	$ 3,214					$ 1		$ 1,718		$ (91)		$ 2,318					$ 3,194				$ 5		$ 1,962		$ (91)		$ 1,318
[1] (b) As a result of the adoption of ASU 2022-02, we recorded a one-time cumulative increase to retained earnings, net of tax. See Note 3 of the Notes to the Consolidated Financial Statements in Part II - Item 8 of our Annual Report for additional information on the adoption of ASU 2022-02. * As a result of the adoption of ASU 2022-02, we recorded a one-time cumulative increase to retained earnings, net of tax. See Note 3 of the Notes to the Consolidated Financial Statements in Part II - Item 8 of our Annual Report for additional information on the adoption of ASU 2022-02. (a) Cash dividends declared were $1.00 per share during the three months ended March 31, 2024 and 2023.

Condensed Consolidated Statem_9

Condensed Consolidated Statements of Shareholder's Equity (Unaudited) (Parenthetical) - OMFC - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Dividends declared (in dollars per share)	$ 1	$ 1

Condensed Consolidated State_10

Condensed Consolidated Statements of Cash Flows (Unaudited) - OMFC - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Net Cash Provided by (Used in) Operating Activities, Continuing Operations [Abstract]
Net income		$ 155	$ 179
Reconciling adjustments:
Provision for finance receivable losses		431	385
Depreciation and amortization		66	61
Deferred income tax charge		15	9
Share-based compensation expense, net of forfeitures		11	12
Gain on sales of finance receivables		(6)	(17)
Other		(1)	(1)
Cash flows due to changes in other assets and other liabilities		(113)	(66)
Net cash provided by operating activities		558	562
Cash flows from investing activities
Net principal originations and purchases of finance receivables		(345)	(432)
Proceeds from sales of finance receivables		117	200
Available-for-sale securities purchased		(64)	(44)
Available-for-sale securities called, sold, and matured		78	88
Other securities purchased		(4)	(2)
Other securities called, sold, and matured		5	2
Other, net		(20)	(16)
Net cash used for investing activities		(233)	(204)
Cash flows from financing activities
Proceeds from issuance and borrowings of long-term debt, net of issuance costs			843
Payments for debt issuance costs		(6)
Repayments and repurchases of long-term debt		(303)	(928)
Cash dividends		(122)	(123)
Withholding tax on share-based compensation		(8)	(8)
Net cash used for financing activities		(443)	(242)
Net change in cash and cash equivalents and restricted cash and restricted cash equivalents		(118)	116
Cash and cash equivalents and restricted cash and restricted cash equivalents at beginning of period		1,548	959
Cash and cash equivalents and restricted cash and restricted cash equivalents at end of period		1,430	1,075
Supplemental cash flow information
Cash and cash equivalents		831	544
Restricted cash and restricted cash equivalents	[1]	599	531
Total cash and cash equivalents and restricted cash and restricted cash equivalents		1,430	1,075
OMFC
Net Cash Provided by (Used in) Operating Activities, Continuing Operations [Abstract]
Net income		155	179
Reconciling adjustments:
Provision for finance receivable losses		431	385
Depreciation and amortization		66	61
Deferred income tax charge		15	9
Share-based compensation expense, net of forfeitures		11	12
Gain on sales of finance receivables		(6)	(17)
Other		(1)	(1)
Cash flows due to changes in other assets and other liabilities		(114)	(66)
Net cash provided by operating activities		557	562
Cash flows from investing activities
Net principal originations and purchases of finance receivables		(345)	(432)
Proceeds from sales of finance receivables		117	200
Available-for-sale securities purchased		(64)	(44)
Available-for-sale securities called, sold, and matured		78	88
Other securities purchased		(4)	(2)
Other securities called, sold, and matured		5	2
Other, net		(21)	(16)
Net cash used for investing activities		(234)	(204)
Cash flows from financing activities
Proceeds from issuance and borrowings of long-term debt, net of issuance costs			843
Payments for debt issuance costs		(6)
Repayments and repurchases of long-term debt		(303)	(928)
Cash dividends		(140)	(152)
Withholding tax on share-based compensation		(8)	(8)
Net cash used for financing activities		(457)	(245)
Net change in cash and cash equivalents and restricted cash and restricted cash equivalents		(134)	113
Cash and cash equivalents and restricted cash and restricted cash equivalents at beginning of period		1,545	951
Cash and cash equivalents and restricted cash and restricted cash equivalents at end of period		1,411	1,064
Supplemental cash flow information
Cash and cash equivalents		812	533
Restricted cash and restricted cash equivalents	[2]	599	531
Total cash and cash equivalents and restricted cash and restricted cash equivalents		$ 1,411	$ 1,064
[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.

Business and Basis of Presentat

Business and Basis of Presentation	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Basis of Presentation	1. Business and Basis of Presentation OneMain Holdings, Inc. (“OMH”), and its wholly owned direct subsidiary, OneMain Finance Corporation (“OMFC”) are financial services holding companies whose subsidiaries engage in the consumer finance and insurance businesses. The results of OMFC are consolidated into the results of OMH. Due to the nominal differences between OMFC and OMH, content throughout this filing relates to both OMH and OMFC, except where otherwise indicated. OMH and OMFC are referred to in this report, collectively with their subsidiaries, whether directly or indirectly owned, as “the Company,” “OneMain,” “we,” “us,” or “our.” BASIS OF PRESENTATION We prepared our condensed consolidated financial statements using generally accepted accounting principles in the United States of America (“GAAP”). These statements are unaudited. The year-end condensed balance sheet data was derived from our audited financial statements but does not include all disclosures required by GAAP. The statements include the accounts of OMH, its wholly owned subsidiaries, and variable interest entities (“VIEs”) in which we hold a controlling financial interest and for which we are considered to be the primary beneficiary as of the financial statement date. We eliminated all material intercompany accounts and transactions. We made judgments, estimates, and assumptions that affect amounts reported in our condensed consolidated financial statements and disclosures of contingent assets and liabilities. In management’s opinion, the condensed consolidated financial statements include the normal, recurring adjustments necessary for a fair statement of results. Actual results could differ from our estimates. We evaluated the effects of and the need to disclose events that occurred subsequent to the balance sheet date. The condensed consolidated financial statements in this report should be read in conjunction with the consolidated financial statements and related notes included in our Annual Report. We follow the same significant accounting policies for our interim reporting except for the new accounting pronouncements subsequently adopted and disclosed in Note 2. To conform to the 2024 presentation, we reclassified certain items in prior periods of our condensed consolidated financial statements.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2024
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	2. Recent Accounting Pronouncements 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	3 Months Ended
	Mar. 31, 2024
Receivables [Abstract]
Finance Receivables	3. Finance Receivables Our finance receivables consist of consumer loans and credit cards. Consumer loans include personal loans and auto finance. Personal loans are non-revolving, with a fixed rate, have fixed terms generally between three three Components of our net finance receivables were as follows: Consumer Loans (dollars in millions) Personal Loans Auto Finance Total Consumer Loans Credit Cards Total March 31, 2024 Gross finance receivables * $ 19,575 $ 843 $ 20,418 $ 377 $ 20,795 Unearned fees (217) (16) (233) — (233) Accrued finance charges and fees 310 8 318 — 318 Deferred origination costs 186 8 194 9 203 Total $ 19,854 $ 843 $ 20,697 $ 386 $ 21,083 December 31, 2023 Gross finance receivables * $ 19,977 $ 744 $ 20,721 $ 322 $ 21,043 Unearned fees (223) (13) (236) — (236) Accrued finance charges and fees 326 7 333 — 333 Deferred origination costs 194 7 201 8 209 Total $ 20,274 $ 745 $ 21,019 $ 330 $ 21,349 * Consumer 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. WHOLE LOAN SALE TRANSACTIONS We have whole loan sale flow agreements with third parties, with current terms of less than two years, in which we agreed to sell a remaining total of $630 million gross receivables of newly originated unsecured personal loans along with any associated accrued interest. These unsecured personal loans are derecognized from our balance sheet at the time of sale. We service the personal loans sold and are entitled to a servicing fee and other fees commensurate with the services performed as part of the agreements. The gain on sales and servicing fees are recorded in Other revenues in our condensed consolidated statements of operations. We sold $110 million and $180 million of gross finance receivables during the three months ended March 31, 2024 and 2023, respectively. The gain on the sales were $6 million and $17 million during the three months ended March 31, 2024 and 2023, respectively. CREDIT QUALITY INDICATOR We consider the delinquency status of our finance receivables as our key credit quality indicator. We monitor the delinquency of our finance receivable portfolio, including the migration between the delinquency buckets and changes in the delinquency trends to manage our exposure to credit risk in the portfolio. When consumer 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 consumer 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 $41 million and $37 million during the three months ended March 31, 2024 and 2023, respectively. For auto finance, reversed net accrued finance charges were immaterial during the three months ended March 31, 2024 and 2023. Finance charges recognized from the contractual interest portion of payments received on nonaccrual personal loans and auto finance loans were immaterial during the three months ended March 31, 2024 and 2023. All consumer 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 were immaterial during the three months ended March 31, 2024 and 2023. The following tables below are a summary of our personal loans by the year of origination and number of days delinquent: (dollars in millions) 2024 2023 2022 2021 2020 Prior Total March 31, 2024 Performing Current $ 2,212 $ 8,615 $ 4,822 $ 2,089 $ 622 $ 368 $ 18,728 30-59 days past due 2 118 111 61 19 15 326 60-89 days past due — 80 76 41 12 10 219 Total performing 2,214 8,813 5,009 2,191 653 393 19,273 Nonperforming (Nonaccrual) 90+ days past due — 183 221 118 34 25 581 Total $ 2,214 $ 8,996 $ 5,230 $ 2,309 $ 687 $ 418 $ 19,854 Gross charge-offs * $ — $ 115 $ 223 $ 119 $ 33 $ 23 $ 513 * Represents gross charge-offs for the three months ended March 31, 2024. (dollars in millions) 2023 2022 2021 2020 2019 Prior Total December 31, 2023 Performing Current $ 9,759 $ 5,527 $ 2,454 $ 776 $ 376 $ 114 $ 19,006 30-59 days past due 113 153 88 27 16 7 404 60-89 days past due 74 104 59 17 10 4 268 Total performing 9,946 5,784 2,601 820 402 125 19,678 Nonperforming (Nonaccrual) 90+ days past due 125 259 143 40 21 8 596 Total $ 10,071 $ 6,043 $ 2,744 $ 860 $ 423 $ 133 $ 20,274 Gross charge-offs * $ — $ 136 $ 198 $ 59 $ 34 $ 14 $ 441 * Represents gross charge-offs for the three months ended March 31, 2023. The following tables below are a summary of our auto finance loans by the year of origination and number of days delinquent: (dollars in millions) 2024 2023 2022 2021 2020 Prior Total March 31, 2024 Performing Current $ 163 $ 441 $ 181 $ 30 $ 1 $ — $ 816 30-59 days past due — 5 5 1 — — 11 60-89 days past due — 3 2 1 — — 6 Total performing 163 449 188 32 1 — 833 Nonperforming (Nonaccrual) 90+ days past due — 4 5 1 — — 10 Total $ 163 $ 453 $ 193 $ 33 $ 1 $ — $ 843 Gross charge-offs * $ — $ 3 $ 5 $ 1 $ — $ — $ 9 * Represents gross charge-offs for the three months ended March 31, 2024. (dollars in millions) 2023 2022 2021 2020 2019 Prior Total December 31, 2023 Performing Current $ 480 $ 203 $ 34 $ 2 $ — $ — $ 719 30-59 days past due 4 6 2 — — — 12 60-89 days past due 2 3 — — — — 5 Total performing 486 212 36 2 — — 736 Nonperforming (Nonaccrual) 90+ days past due 3 5 1 — — — 9 Total $ 489 $ 217 $ 37 $ 2 $ — $ — $ 745 Gross charge-offs * $ — $ 3 $ 1 $ — $ — $ — $ 4 * Represents gross charge-offs for the three months ended March 31, 2023. The following is a summary of credit cards by number of days delinquent: (dollars in millions) March 31, 2024 December 31, 2023 Current $ 343 $ 297 30-59 days past due 10 9 60-89 days past due 9 7 90+ days past due 24 17 Total $ 386 $ 330 There were no credit cards that were converted to term loans at March 31, 2024 or December 31, 2023. 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 $263 million and $223 million at March 31, 2024 and December 31, 2023, respectively. 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: Three Months Ended March 31, 2024 2023 (dollars in millions) Personal Loans Auto Finance Personal Loans Auto Finance Interest rate reduction and term extension $ 156 $ 5 $ 125 $ 1 Interest rate reduction and principal forgiveness 119 — 96 — Total modifications to borrowers experiencing financial difficulties $ 275 $ 5 $ 221 $ 1 Modifications as a percent of net finance receivables by class 1.38 % 0.56 % 1.15 % 0.33 % The financial effect of modifications made during the period were as follows: Three Months Ended March 31, 2024 2023 (dollars in millions) Personal Loans Auto Finance Personal Loans Auto Finance Net finance receivables Weighted-average interest rate reduction 17.56 % 11.16 % 21.38 % 12.56 % Weighted-average term extension (months) 25 28 19 20 Principal/interest forgiveness $ 11 $ — $ 11 $ — The performance of finance receivables modified within the previous 12 months by delinquency status was as follows: March 31, 2024* March 31, 2023 (dollars in millions) Personal Loans Auto Finance Personal Loans Auto Finance Current $ 611 $ 7 $ 158 $ 1 30-59 days past due 55 1 27 — 60-89 days past due 44 — 14 — 90+ days past due 105 1 22 — Total $ 815 $ 9 $ 221 $ 1 * Excludes $55 million of personal loan receivables and $1 million of auto finance receivables that were modified and subsequently charged off within the previous 12 months. The period-end carrying value of finance receivables that defaulted during the period to cause the receivable to be considered nonperforming (90 days or more contractually past due) and had been modified within the 12 months preceding the default were as follows: Three Months Ended March 31, 2024 (dollars in millions) Personal Loans Auto Finance Interest rate reduction and term extension $ 44 $ 1 Interest rate reduction and principal forgiveness 16 — Total * $ 60 $ 1 * There were no modified finance receivables for which there was a default during the three months ended March 31, 2023 to cause the modified finance receivable to be considered nonperforming (90 days or more past due).

Allowance for Finance Receivabl

Allowance for Finance Receivable Losses	3 Months Ended
	Mar. 31, 2024
Receivables [Abstract]
Allowance for Finance Receivable Losses	4. Allowance for Finance Receivable Losses We establish an allowance for finance receivable losses through the provision for finance receivable losses. We evaluate our finance receivable portfolio by the level of contractual delinquency in the portfolio, specifically in the late-stage delinquency buckets and inclusive of the migration of the finance receivables through the delinquency buckets. We estimate and record an allowance for finance receivable losses to cover the expected lifetime credit losses on our finance receivables. Our allowance for finance receivable losses may fluctuate based upon changes in portfolio growth, credit quality, and economic conditions. Our methodology to estimate expected credit losses uses recent macroeconomic forecasts, which include forecasts for unemployment. We leverage projections from various industry leading providers. We also consider inflationary pressures, consumer confidence levels, and elevated interest rates that may continue to impact the economic outlook. At March 31, 2024, our economic forecast used a reasonable and supportable period of 12 months. The decrease in our allowance for finance receivable losses for the three months ended March 31, 2024 was driven by a seasonal decline in net finance receivables. We may experience further changes to the macroeconomic assumptions within our forecast, as well as changes to our loan loss performance outlook, both of which could lead to further changes in our allowance for finance receivable losses, allowance ratio, and provision for finance receivable losses. Changes in the allowance for finance receivable losses were as follows: (dollars in millions) Consumer Loans Credit Cards Total Three Months Ended March 31, 2024 Balance at beginning of period $ 2,415 $ 65 $ 2,480 Provision for finance receivable losses 406 25 431 Charge-offs (522) (12) (534) Recoveries 77 — 77 Balance at end of period $ 2,376 $ 78 $ 2,454 Three Months Ended March 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 377 8 385 Charge-offs (445) (6) (451) Recoveries 69 — 69 Balance at end of period $ 2,275 $ 23 $ 2,298 * 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, 4, and 5 of the Notes to the Consolidated Financial Statements in Part II - Item 8 of our Annual Report for additional information on the adoption of ASU 2022-02.

Investment Securities

Investment Securities	3 Months Ended
	Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Investment Securities	5. Investment Securities AVAILABLE-FOR-SALE SECURITIES Cost/amortized cost, allowance for credit losses, unrealized gains and losses, and fair value of fixed maturity available-for-sale securities by type were as follows: (dollars in millions) Cost/ Unrealized Unrealized Fair March 31, 2024* Fixed maturity available-for-sale securities: U.S. government and government sponsored entities $ 19 $ — $ (1) $ 18 Obligations of states, municipalities, and political subdivisions 72 — (6) 66 Commercial paper 21 — — 21 Non-U.S. government and government sponsored entities 161 — (7) 154 Corporate debt 1,149 4 (83) 1,070 Mortgage-backed, asset-backed, and collateralized: RMBS 204 — (24) 180 CMBS 36 — (3) 33 CDO/ABS 81 — (5) 76 Total $ 1,743 $ 4 $ (129) $ 1,618 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 * The allowance for credit losses related to our investment securities as of March 31, 2024 and 2023 was immaterial. Interest receivables reported in Other assets in our condensed consolidated balance sheets totaled $14 million as of March 31, 2024 and December 31, 2023. There were no material amounts reversed from investment revenue for available-for-sale securities for the three months ended March 31, 2024 and 2023. 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 March 31, 2024 U.S. government and government sponsored entities $ 4 $ — $ 11 $ (1) $ 15 $ (1) Obligations of states, municipalities, and political subdivisions 2 — 61 (6) 63 (6) Commercial paper 21 — — — 21 — Non-U.S. government and government sponsored entities 26 — 96 (7) 122 (7) Corporate debt 60 — 885 (83) 945 (83) Mortgage-backed, asset-backed, and collateralized: RMBS 5 — 152 (24) 157 (24) CMBS — — 33 (3) 33 (3) CDO/ABS 4 — 54 (5) 58 (5) Total $ 122 $ — $ 1,292 $ (129) $ 1,414 $ (129) 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) * 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 2,036 and 1,984 investment securities in an unrealized loss position at March 31, 2024 and December 31, 2023, 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 March 31, 2024, there were no credit impairments on investment securities that we intend to sell. We do not have plans to sell any of the remaining investment securities with unrealized losses as of March 31, 2024, and we believe it is more likely than not that we would not be required to sell such investment securities before recovery of their amortized cost. We continue to monitor unrealized loss positions for potential credit impairments. During the three months ended March 31, 2024 and 2023, there were no material credit impairments related to our investment securities. Therefore, there were no material additions or reductions in the allowance for credit losses (impairments recognized or reversed in earnings) on credit impaired available-for-sale securities for the three months ended March 31, 2024 and 2023. The proceeds of available-for-sale securities sold or redeemed during the three months ended March 31, 2024 and 2023 totaled $19 million and $26 million, respectively. The net realized gains and losses were immaterial during the three months ended March 31, 2024 and 2023. Contractual maturities of fixed-maturity available-for-sale securities at March 31, 2024 were as follows: (dollars in millions) Fair Amortized Fixed maturities, excluding mortgage-backed, asset-backed, and collateralized securities: Due in 1 year or less $ 156 $ 157 Due after 1 year through 5 years 575 598 Due after 5 years through 10 years 476 529 Due after 10 years 122 138 Mortgage-backed, asset-backed, and collateralized securities 289 321 Total $ 1,618 $ 1,743 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 $512 million and $524 million at March 31, 2024 and December 31, 2023, respectively. OTHER SECURITIES The fair value of other securities by type was as follows: (dollars in millions) March 31, 2024 December 31, 2023 Fixed maturity other securities: Bonds $ 22 $ 22 Preferred stock 15 16 Common stock 36 34 Total $ 73 $ 72 Net unrealized gains and losses on other securities held were immaterial for the three months ended March 31, 2024 and 2023. Net realized gains and losses on other securities sold or redeemed were immaterial for the three months ended March 31, 2024 and 2023. 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.

Long-term Debt

Long-term Debt	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Long-term Debt	6. Long-term Debt Principal maturities of long-term debt by type of debt at March 31, 2024 were as follows: Senior Debt (dollars in millions) Securitizations Private Secured Term Funding Revolving Unsecured Junior Total Interest rates (b) 0.87%-7.52% 6.35% 6.81 % 3.50%-9.00% 7.33 % Remainder of 2024 $ — $ — $ — $ — $ — $ — 2025 — — — 1,110 — 1,110 2026 — — — 1,600 — 1,600 2027 — — — 750 — 750 2028 — — — 1,350 — 1,350 2029-2067 — — — 3,182 350 3,532 Secured (c) 11,112 350 1 — — 11,463 Total principal maturities $ 11,112 $ 350 $ 1 $ 7,992 $ 350 $ 19,805 Total carrying amount $ 11,069 $ 350 $ 1 $ 7,928 $ 172 $ 19,520 Debt issuance costs (d) (39) — — (60) — (99) (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 March 31, 2024. (c) Securitizations, private secured term funding, and borrowings under the revolving conduit facilities are not included in the above maturities by period due to their variable monthly repayments, which may result in pay-off prior to the stated maturity date. See Note 7 for further information on our long-term debt associated with securitizations, private secured term funding, and revolving conduit facilities. (d) Debt issuance costs are reported as a direct deduction from long-term debt, with the exception of debt issuance costs associated with our revolving conduit facilities, credit card revolving variable funding note (“VFN”) facilities, and unsecured corporate revolver, which totaled $38 million at March 31, 2024 and are reported in Other assets in our condensed consolidated balance sheets. UNSECURED CORPORATE REVOLVER At March 31, 2024, the total maximum borrowing capacity of our unsecured corporate revolver was $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 March 31, 2024, no amounts were drawn under this facility.

Variable Interest Entities

Variable Interest Entities	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	7. Variable Interest Entities CONSOLIDATED VIES We have transferred finance receivables to VIEs for asset-backed financing transactions and include the assets and liabilities in our condensed consolidated financial statements because we are the primary beneficiary of each VIE. We account for these asset-backed debt obligations as securitized borrowings. See Note 2 and Note 9 of the Notes to the Consolidated Financial Statements in Part II - Item 8 included in our Annual Report for more detail regarding VIEs. We parenthetically disclose on our condensed consolidated balance sheets the VIE’s assets that can only be used to settle the VIE’s obligations and liabilities when its creditors have no recourse against the primary beneficiary’s general credit. The carrying amounts of consolidated VIE assets and liabilities associated with our securitization trusts, private secured term funding, revolving conduit facilities, and credit card revolving VFN facilities were as follows: (dollars in millions) March 31, 2024 December 31, 2023 Assets Cash and cash equivalents $ 3 $ 2 Net finance receivables 12,641 12,780 Allowance for finance receivable losses 1,429 1,428 Restricted cash and restricted cash equivalents 576 523 Other assets 36 32 Liabilities Long-term debt $ 11,420 $ 11,579 Other liabilities 27 27 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 $138 million and $101 million during the three months ended March 31, 2024 and 2023, respectively. SECURITIZED BORROWINGS Each of our outstanding securitizations contain a revolving period ranging from two CREDIT CARD REVOLVING VFN FACILITIES We have transferred credit card gross finance receivables to a master trust, OneMain Financial Credit Card Trust (“OMFCT”), and we continue to service and administer the credit cards. As of March 31, 2024, OMFCT was the issuing entity for two credit card revolving VFN facilities by way of certain indenture supplements and note purchase agreements with a total maximum borrowing capacity of $300 million. Each credit card revolving VFN facility has a revolving period during which time no principal payments are required, but may be made without penalty, followed by a subsequent amortization period. Principal balances of outstanding notes, if any, are due and payable in full over periods ranging up to six years as of March 31, 2024. Amounts drawn on these credit card revolving VFN facilities are secured and collateralized by credit card gross finance receivables. PRIVATE SECURED TERM FUNDING At March 31, 2024, an aggregate amount of $350 million was outstanding under the private secured term funding collateralized by our consumer 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 March 31, 2024. Our

Insurance

Insurance	3 Months Ended
	Mar. 31, 2024
Insurance [Abstract]
Insurance	8. Insurance Changes in the reserve for unpaid claims and loss adjustment expenses (net of reinsurance recoverables) on our short-duration insurance contracts: At or for the (dollars in millions) 2024 2023 Balance at beginning of period $ 108 $ 93 Less reinsurance recoverables (3) (3) Net balance at beginning of period 105 90 Additions for losses and loss adjustment expenses incurred to: Current year 52 42 Prior years * (5) (1) Total 47 41 Reductions for losses and loss adjustment expenses paid related to: Current year (15) (12) Prior years (32) (27) Total (47) (39) Net balance at end of period 105 92 Plus reinsurance recoverables 3 3 Balance at end of period $ 108 $ 95 * At March 31, 2024, there was a redundancy in the prior years’ net reserves due to favorable development of collateral protection claims during the period. At March 31, 2023, there was a redundancy in the prior years’ net reserves, due to favorable development of credit disability claims during the period. LIABILITY FOR FUTURE POLICY BENEFITS The present value of expected net premiums on long-duration insurance contracts were as follows: At or for the 2024 2023 (dollars in millions) Term and Accidental Death and Disability Protection Term and Accidental Death and Disability Protection Balance at beginning of period $ 217 $ 41 $ 252 $ 48 Effect of cumulative changes in discount rate assumptions (beginning of period) (5) — (8) — Beginning balance at original discount rate 212 41 244 48 Effect of actual variances from expected experience (8) — (2) — Adjusted balance at beginning of period 204 41 242 48 Interest accretion 3 — 6 — Net premiums collected (7) (1) (7) (2) Ending balance at original discount rate 200 40 241 46 Effect of changes in discount rate assumptions — (1) 5 — Balance at ending of period $ 200 $ 39 $ 246 $ 46 The present value of expected future policy benefits on long-duration insurance contracts were as follows: At or for the 2024 2023 (dollars in millions) Term and Accidental Death and Disability Protection Term and Accidental Death and Disability Protection Balance at beginning of period $ 435 $ 113 $ 483 $ 126 Effect of cumulative changes in discount rate assumptions (beginning of period) (12) — (17) (1) Beginning balance at original discount rate 423 113 466 125 Effect of actual variances from expected experience (9) (1) 1 (1) Adjusted balance at beginning of period 414 112 467 124 Net issuances 1 — 1 — Interest accretion 5 1 9 3 Benefit payments (13) (4) (16) (4) Ending balance at original discount rate 407 109 461 123 Effect of changes in discount rate assumptions 3 (2) 12 — Balance at ending of period $ 410 $ 107 $ 473 $ 123 The net liability for future policy benefits on long-duration insurance contracts were as follows: At or for the 2024 2023 (dollars in millions) Term and Accidental Death and Disability Protection Term and Accidental Death and Disability Protection Net liability for future policy benefits $ 210 $ 68 $ 227 $ 77 Deferred profit liability 13 51 15 54 Total net liability for future policy benefits $ 223 $ 119 $ 242 $ 131 The weighted-average duration of the liability for future policy benefits was 8 years at March 31, 2024 and March 31, 2023. The following table reconciles the net liability for future policy benefits to Insurance claims and policyholder liabilities in the condensed consolidated balance sheets: At or for the (dollars in millions) 2024 2023 Term and whole life $ 223 $ 242 Accidental death and disability protection 119 131 Other* 255 242 Total $ 597 $ 615 * 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 2024 2023 (dollars in millions) Term and Accidental Death and Disability Protection Term and Accidental Death and Disability Protection Expected future gross premiums: Undiscounted $ 411 $ 142 $ 466 $ 159 Discounted 293 101 326 114 Expected future benefit payments: Undiscounted 582 162 670 181 Discounted 410 107 473 123 The revenue and interest accretion related to our long-duration insurance contracts recognized in the condensed consolidated statements of operations were as follows: At or for the 2024 2023 (dollars in millions) Term and Accidental Death and Disability Protection Term and Accidental Death and Disability Protection Gross premiums or assessments $ 13 $ 5 $ 11 $ 5 Interest accretion $ 3 $ 1 $ 3 $ 3 The expected and actual experience for mortality, morbidity, and lapses of the liability for future policy benefits were as follows: At or for the 2024 2023 Term and Accidental Death and Disability Protection Term and Accidental Death and Disability Protection Mortality/Morbidity: Expected 0.37 % 0.01 % 0.39 % 0.01 % Actual 0.38 % 0.01 % 0.31 % 0.01 % Lapses: Expected 4.68 % 1.96 % 3.18 % 2.24 % Actual 3.35 % 2.51 % 1.67 % 0.34 % 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 2024 2023 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 5.33 % 5.35 % 5.07 % 5.06 %

Capital Stock and Earnings Per

Capital Stock and Earnings Per Share (OMH Only)	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Capital Stock and Earnings Per Share (OMH Only)	9. Capital Stock and Earnings Per Share (OMH Only) CAPITAL STOCK OMH has two classes of authorized capital stock: preferred stock and common stock. OMFC has two classes of authorized capital stock: special stock and common stock. OMH and OMFC may issue preferred stock and special stock, respectively, in one or more series. The OMH Board of Directors and the OMFC Board of Directors determine the dividend, liquidation, redemption, conversion, voting, and other rights prior to issuance. Changes in OMH shares of common stock issued and outstanding were as follows: Three Months Ended March 31, 2024 2023 Balance at beginning of period 119,757,277 121,042,125 Common stock issued 211,702 207,403 Common stock repurchased (108,685) (683,384) Treasury stock issued 16,958 21,070 Balance at end of period 119,877,252 120,587,214 EARNINGS PER SHARE (OMH ONLY) The computation of earnings per share was as follows: Three Months Ended March 31, (dollars in millions, except per share data) 2024 2023 Numerator (basic and diluted): Net income $ 155 $ 179 Denominator: Weighted average number of shares outstanding (basic) 119,829,174 120,765,661 Effect of dilutive securities * 415,495 204,230 Weighted average number of shares outstanding (diluted) 120,244,669 120,969,891 Earnings per share: Basic $ 1.29 $ 1.48 Diluted $ 1.29 $ 1.48 * We have excluded weighted-average unvested restricted stock units totaling 728,403 and 1,543,976 for the three months ended March 31, 2024 and 2023, respectively, from the fully-diluted earnings per share calculations as these shares would be anti-dilutive, which could impact the earnings per share calculation in the future. Basic earnings per share is computed by dividing net income by the weighted-average number of shares outstanding during each period. Diluted earnings per share is computed based on the weighted-average number of shares outstanding plus the effect of potentially dilutive shares outstanding during the period using the treasury stock method. The potentially dilutive shares represent outstanding unvested restricted stock units.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	10. Accumulated Other Comprehensive Income (Loss) Changes, net of tax, in Accumulated other comprehensive income (loss) were as follows: (dollars in millions) Unrealized Retirement Foreign Changes in discount rate for insurance claims and policyholder liabilities Other (b) Total Three Months Ended Balance at beginning of period $ (93) $ (8) $ (2) $ (5) $ 21 $ (87) Other comprehensive income (loss) before reclassifications (6) — (3) 5 — (4) Balance at end of period $ (99) $ (8) $ (5) $ — $ 21 $ (91) Three Months Ended Balance at beginning of period $ (131) $ (8) $ (5) $ (8) $ 25 $ (127) Other comprehensive income (loss) before reclassifications 19 — — 3 (3) 19 Balance at end of period $ (112) $ (8) $ (5) $ (5) $ 22 $ (108) (a) There were no material amounts related to available-for-sale debt securities for which an allowance for credit losses was recorded during the three months ended March 31, 2024 and 2023. (b) Other primarily includes changes in the fair value of our mark-to-market derivative instruments that have been designated as cash flow hedges. Reclassification adjustments from Accumulated other comprehensive income (loss) to the applicable line item on our condensed consolidated statements of operations were immaterial for the three months ended March 31, 2024 and 2023.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	11. Income Taxes We had a net deferred tax asset of $463 million and $477 million at March 31, 2024 and December 31, 2023, respectively. We follow the guidance of ASC 740, Income Taxes , for interim reporting of income taxes under which we calculate an estimated annual effective tax rate (“AETR”) and apply the AETR to our year-to-date income (loss) before income taxes. In addition, we recognize any discrete items as they occur. The effective tax rate for the three months ended March 31, 2024 was 24.1%, compared to 24.0% for the same period in 2023. The effective tax rate for the three months ended March 31, 2024 and 2023 differed from the federal statutory rate of 21% primarily due to the effect of state income taxes. We are under examination by various states for the years 2017 to 2021. Management believes it has adequately provided for taxes for such years. Our gross unrecognized tax benefits, including related interest and penalties, totaled $11 million at March 31, 2024 and December 31, 2023. We accrue interest related to uncertain tax positions in income tax expense. The amount of any change in the balance of uncertain tax liabilities over the next 12 months is not expected to be material to our condensed consolidated financial statements.

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Contingencies	12. Contingencies LEGAL CONTINGENCIES In the normal course of business, we have been named, from time to time, as defendants in various legal actions, including arbitrations, class actions, and other litigation arising in connection with our activities. Some of the actual or threatened legal actions include claims for substantial compensatory and/or punitive damages or claims for indeterminate amounts of damages. Additionally, we are, from time to time, in the normal course of business, subject to inquiries and investigations by federal, state and local governmental authorities regarding our products and our operations. These inquiries and investigations may result in fines, restitution or other penalties, including injunctive relief that may result in restrictions on our business. While we will continue to evaluate legal actions to determine whether a loss is reasonably possible or probable and is reasonably estimable, there can be no assurance that material losses will not be incurred from pending, threatened or future litigation, investigations, examinations, or other claims. We contest liability and/or the amount of damages, as appropriate, in each pending matter. Where available information indicates that it is probable that a liability had been incurred at the date of the condensed consolidated financial statements and we can reasonably estimate the amount of that loss, we accrue the estimated loss by a charge to income. In many actions, however, it is inherently difficult to determine whether any loss is probable or even reasonably possible, or to estimate the amount of any loss. In addition, even where loss is reasonably possible or an exposure to loss exists in excess of the liability already accrued with respect to a previously recognized loss contingency, it is not always possible to reasonably estimate the size of the possible loss or range of loss. For certain legal actions, we cannot reasonably estimate such losses, particularly for actions that are in their early stages of development or where plaintiffs seek substantial or indeterminate damages. Numerous issues may need to be resolved, including through potentially lengthy discovery and determination of important factual matters, and by addressing novel or unsettled legal questions relevant to the actions in question, before a loss or additional loss or range of loss or range of additional loss can be reasonably estimated for any given action. For certain other legal actions, we can estimate reasonably possible losses, additional losses, ranges of loss or ranges of additional loss in excess of amounts accrued, but do not believe, based on current knowledge and after consultation with counsel, that such losses will have a material adverse effect on our condensed consolidated financial statements as a whole.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Segment Information	13. Segment Information At March 31, 2024, Consumer and Insurance (“C&I”) is our only reportable segment. The remaining components (which we refer to as “Other”) consist of our liquidating SpringCastle Portfolio servicing activity and our non-originating legacy operations, which primarily include our liquidating real estate loans. The accounting policies of the C&I segment are the same as those disclosed in Note 2 and Note 17 of the Notes to the Consolidated Financial Statements in Part II - Item 8 included in our Annual Report. The following tables present information about C&I and Other, as well as reconciliations to the condensed consolidated financial statement amounts. (dollars in millions) Consumer Other Segment to Consolidated Three Months Ended March 31, 2024 Interest income $ 1,172 $ 1 $ — $ 1,173 Interest expense 276 1 — 277 Provision for finance receivable losses 431 — — 431 Net interest income after provision for finance receivable losses 465 — — 465 Other revenues 178 2 — 180 Other expenses 440 2 (1) 441 Income (loss) before income tax expense (benefit) $ 203 $ — $ 1 $ 204 Assets $ 22,672 $ 18 $ 1,218 $ 23,908 Three Months Ended March 31, 2023 Interest income $ 1,092 $ 1 $ 1 $ 1,094 Interest expense 238 — 1 239 Provision for finance receivable losses 385 — — 385 Net interest income after provision for finance receivable losses 469 1 — 470 Other revenues 176 1 — 177 Other expenses 409 3 — 412 Income before income tax expense $ 236 $ (1) $ — $ 235 Assets $ 21,199 $ 30 $ 1,214 $ 22,443

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	14. Fair Value Measurements The accounting policies of our fair value measurements are the same as those disclosed in Note 2 and Note 18 of the Notes to the Consolidated Financial Statements in Part II - Item 8 included in our Annual Report. The following table presents the carrying amounts and estimated fair values of our financial instruments and indicates the level in the fair value hierarchy of the estimated fair value measurement based on the observability of the inputs used: Fair Value Measurements Using Total Total (dollars in millions) Level 1 Level 2 Level 3 March 31, 2024 Assets Cash and cash equivalents $ 807 $ 24 $ — $ 831 $ 831 Investment securities 55 1,633 3 1,691 1,691 Net finance receivables, less allowance for finance receivable losses — — 20,293 20,293 18,629 Restricted cash and restricted cash equivalents 596 3 — 599 599 Other assets * — — 39 39 28 Liabilities Long-term debt $ — $ 19,224 $ — $ 19,224 $ 19,520 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 * Other assets at March 31, 2024 and December 31, 2023 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 March 31, 2024 Assets Cash equivalents in mutual funds $ 99 $ — $ — $ 99 Cash equivalents in securities — 24 — 24 Investment securities: Available-for-sale securities U.S. government and government sponsored entities — 18 — 18 Obligations of states, municipalities, and political subdivisions — 66 — 66 Commercial paper — 21 — 21 Non-U.S. government and government sponsored entities — 154 — 154 Corporate debt 6 1,063 1 1,070 RMBS — 180 — 180 CMBS — 33 — 33 CDO/ABS — 76 — 76 Total available-for-sale securities 6 1,611 1 1,618 Other securities Bonds: Corporate debt — 4 — 4 CDO/ABS — 18 — 18 Total bonds — 22 — 22 Preferred stock 15 — — 15 Common stock 34 — 2 36 Total other securities 49 22 2 73 Total investment securities 55 1,633 3 1,691 Restricted cash equivalents in mutual funds 580 — — 580 Restricted cash equivalents in securities — 3 — 3 Total $ 734 $ 1,660 $ 3 $ 2,397 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 Due to the insignificant activity within the Level 3 assets during the three months ended March 31, 2024 and 2023, we have omitted the additional disclosures relating to the changes in Level 3 assets measured at fair value on a recurring basis and the quantitative information about Level 3 unobservable inputs. FAIR VALUE MEASUREMENTS — NON-RECURRING BASIS We measure the fair value of certain assets on a non-recurring basis when events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. Net impairment charges recorded on assets measured at fair value on a non-recurring basis were immaterial during the three months ended March 31, 2024 and 2023. FAIR VALUE MEASUREMENTS — VALUATION METHODOLOGIES AND ASSUMPTIONS See Note 18 of the Notes to the Consolidated Financial Statements in Part II - Item 8 included in our Annual Report for information regarding our methods and assumptions used to estimate fair value.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	15. Subsequent Events On April 1, 2024, we completed our previously announced acquisition of all of the outstanding common stock of Foursight Capital LLC (“Foursight”), a wholly owned subsidiary of Jefferies Financial Group, Inc. Foursight is an automobile finance company that purchases and services automobile retail installment contracts. Contracts are sourced through an extensive network of auto dealers. As of March 31, 2024, Foursight had approximately $900 million of auto loan receivables. We are currently in the process of completing the purchase accounting, which will be disclosed in subsequent filings.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net income	$ 155	$ 179

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Business and Basis of Present_2

Business and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	We prepared our condensed consolidated financial statements using generally accepted accounting principles in the United States of America (“GAAP”). These statements are unaudited. The year-end condensed balance sheet data was derived from our audited financial statements but does not include all disclosures required by GAAP.
CONSOLIDATION	The statements include the accounts of OMH, its wholly owned subsidiaries, and variable interest entities (“VIEs”) in which we hold a controlling financial interest and for which we are considered to be the primary beneficiary as of the financial statement date.We eliminated all material intercompany accounts and transactions.
USE OF ESTIMATES	We made judgments, estimates, and assumptions that affect amounts reported in our condensed consolidated financial statements and disclosures of contingent assets and liabilities. In management’s opinion, the condensed consolidated financial statements include the normal, recurring adjustments necessary for a fair statement of results. Actual results could differ from our estimates. We evaluated the effects of and the need to disclose events that occurred subsequent to the balance sheet date.
ACCOUNTING PRONUNCEMENTS TO BE ADOPTED	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 (Tables)

Finance Receivables (Tables)	3 Months Ended
	Mar. 31, 2024
Receivables [Abstract]
Schedule of components of net finance receivables by type	Components of our net finance receivables were as follows: Consumer Loans (dollars in millions) Personal Loans Auto Finance Total Consumer Loans Credit Cards Total March 31, 2024 Gross finance receivables * $ 19,575 $ 843 $ 20,418 $ 377 $ 20,795 Unearned fees (217) (16) (233) — (233) Accrued finance charges and fees 310 8 318 — 318 Deferred origination costs 186 8 194 9 203 Total $ 19,854 $ 843 $ 20,697 $ 386 $ 21,083 December 31, 2023 Gross finance receivables * $ 19,977 $ 744 $ 20,721 $ 322 $ 21,043 Unearned fees (223) (13) (236) — (236) Accrued finance charges and fees 326 7 333 — 333 Deferred origination costs 194 7 201 8 209 Total $ 20,274 $ 745 $ 21,019 $ 330 $ 21,349
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) 2024 2023 2022 2021 2020 Prior Total March 31, 2024 Performing Current $ 2,212 $ 8,615 $ 4,822 $ 2,089 $ 622 $ 368 $ 18,728 30-59 days past due 2 118 111 61 19 15 326 60-89 days past due — 80 76 41 12 10 219 Total performing 2,214 8,813 5,009 2,191 653 393 19,273 Nonperforming (Nonaccrual) 90+ days past due — 183 221 118 34 25 581 Total $ 2,214 $ 8,996 $ 5,230 $ 2,309 $ 687 $ 418 $ 19,854 Gross charge-offs * $ — $ 115 $ 223 $ 119 $ 33 $ 23 $ 513 * Represents gross charge-offs for the three months ended March 31, 2024. (dollars in millions) 2023 2022 2021 2020 2019 Prior Total December 31, 2023 Performing Current $ 9,759 $ 5,527 $ 2,454 $ 776 $ 376 $ 114 $ 19,006 30-59 days past due 113 153 88 27 16 7 404 60-89 days past due 74 104 59 17 10 4 268 Total performing 9,946 5,784 2,601 820 402 125 19,678 Nonperforming (Nonaccrual) 90+ days past due 125 259 143 40 21 8 596 Total $ 10,071 $ 6,043 $ 2,744 $ 860 $ 423 $ 133 $ 20,274 Gross charge-offs * $ — $ 136 $ 198 $ 59 $ 34 $ 14 $ 441 * Represents gross charge-offs for the three months ended March 31, 2023. The following tables below are a summary of our auto finance loans by the year of origination and number of days delinquent: (dollars in millions) 2024 2023 2022 2021 2020 Prior Total March 31, 2024 Performing Current $ 163 $ 441 $ 181 $ 30 $ 1 $ — $ 816 30-59 days past due — 5 5 1 — — 11 60-89 days past due — 3 2 1 — — 6 Total performing 163 449 188 32 1 — 833 Nonperforming (Nonaccrual) 90+ days past due — 4 5 1 — — 10 Total $ 163 $ 453 $ 193 $ 33 $ 1 $ — $ 843 Gross charge-offs * $ — $ 3 $ 5 $ 1 $ — $ — $ 9 * Represents gross charge-offs for the three months ended March 31, 2024. (dollars in millions) 2023 2022 2021 2020 2019 Prior Total December 31, 2023 Performing Current $ 480 $ 203 $ 34 $ 2 $ — $ — $ 719 30-59 days past due 4 6 2 — — — 12 60-89 days past due 2 3 — — — — 5 Total performing 486 212 36 2 — — 736 Nonperforming (Nonaccrual) 90+ days past due 3 5 1 — — — 9 Total $ 489 $ 217 $ 37 $ 2 $ — $ — $ 745 Gross charge-offs * $ — $ 3 $ 1 $ — $ — $ — $ 4 * Represents gross charge-offs for the three months ended March 31, 2023. The following is a summary of credit cards by number of days delinquent: (dollars in millions) March 31, 2024 December 31, 2023 Current $ 343 $ 297 30-59 days past due 10 9 60-89 days past due 9 7 90+ days past due 24 17 Total $ 386 $ 330
Schedule of information regarding Modified Finance Receivables	The period-end carrying value of finance receivables modified during the period were as follows: Three Months Ended March 31, 2024 2023 (dollars in millions) Personal Loans Auto Finance Personal Loans Auto Finance Interest rate reduction and term extension $ 156 $ 5 $ 125 $ 1 Interest rate reduction and principal forgiveness 119 — 96 — Total modifications to borrowers experiencing financial difficulties $ 275 $ 5 $ 221 $ 1 Modifications as a percent of net finance receivables by class 1.38 % 0.56 % 1.15 % 0.33 % The financial effect of modifications made during the period were as follows: Three Months Ended March 31, 2024 2023 (dollars in millions) Personal Loans Auto Finance Personal Loans Auto Finance Net finance receivables Weighted-average interest rate reduction 17.56 % 11.16 % 21.38 % 12.56 % Weighted-average term extension (months) 25 28 19 20 Principal/interest forgiveness $ 11 $ — $ 11 $ — The performance of finance receivables modified within the previous 12 months by delinquency status was as follows: March 31, 2024* March 31, 2023 (dollars in millions) Personal Loans Auto Finance Personal Loans Auto Finance Current $ 611 $ 7 $ 158 $ 1 30-59 days past due 55 1 27 — 60-89 days past due 44 — 14 — 90+ days past due 105 1 22 — Total $ 815 $ 9 $ 221 $ 1 * Excludes $55 million of personal loan receivables and $1 million of auto finance receivables that were modified and subsequently charged off within the previous 12 months. The period-end carrying value of finance receivables that defaulted during the period to cause the receivable to be considered nonperforming (90 days or more contractually past due) and had been modified within the 12 months preceding the default were as follows: Three Months Ended March 31, 2024 (dollars in millions) Personal Loans Auto Finance Interest rate reduction and term extension $ 44 $ 1 Interest rate reduction and principal forgiveness 16 — Total * $ 60 $ 1 * There were no modified finance receivables for which there was a default during the three months ended March 31, 2023 to cause the modified finance receivable to be considered nonperforming (90 days or more past due).

Allowance for Finance Receiva_2

Allowance for Finance Receivable Losses (Tables)	3 Months Ended
	Mar. 31, 2024
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) Consumer Loans Credit Cards Total Three Months Ended March 31, 2024 Balance at beginning of period $ 2,415 $ 65 $ 2,480 Provision for finance receivable losses 406 25 431 Charge-offs (522) (12) (534) Recoveries 77 — 77 Balance at end of period $ 2,376 $ 78 $ 2,454 Three Months Ended March 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 377 8 385 Charge-offs (445) (6) (451) Recoveries 69 — 69 Balance at end of period $ 2,275 $ 23 $ 2,298 * 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, 4, and 5 of the Notes to the Consolidated Financial Statements in Part II - Item 8 of our Annual Report for additional information on the adoption of ASU 2022-02.

Investment Securities (Tables)

Investment Securities (Tables)	3 Months Ended
	Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Schedule of the cost/amortized cost, unrealized gains and losses, and fair value of available-for-sale securities by type	Cost/amortized cost, allowance for credit losses, unrealized gains and losses, and fair value of fixed maturity available-for-sale securities by type were as follows: (dollars in millions) Cost/ Unrealized Unrealized Fair March 31, 2024* Fixed maturity available-for-sale securities: U.S. government and government sponsored entities $ 19 $ — $ (1) $ 18 Obligations of states, municipalities, and political subdivisions 72 — (6) 66 Commercial paper 21 — — 21 Non-U.S. government and government sponsored entities 161 — (7) 154 Corporate debt 1,149 4 (83) 1,070 Mortgage-backed, asset-backed, and collateralized: RMBS 204 — (24) 180 CMBS 36 — (3) 33 CDO/ABS 81 — (5) 76 Total $ 1,743 $ 4 $ (129) $ 1,618 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 * The allowance for credit losses related to our investment securities as of March 31, 2024 and 2023 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 March 31, 2024 U.S. government and government sponsored entities $ 4 $ — $ 11 $ (1) $ 15 $ (1) Obligations of states, municipalities, and political subdivisions 2 — 61 (6) 63 (6) Commercial paper 21 — — — 21 — Non-U.S. government and government sponsored entities 26 — 96 (7) 122 (7) Corporate debt 60 — 885 (83) 945 (83) Mortgage-backed, asset-backed, and collateralized: RMBS 5 — 152 (24) 157 (24) CMBS — — 33 (3) 33 (3) CDO/ABS 4 — 54 (5) 58 (5) Total $ 122 $ — $ 1,292 $ (129) $ 1,414 $ (129) 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) * 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 March 31, 2024 were as follows: (dollars in millions) Fair Amortized Fixed maturities, excluding mortgage-backed, asset-backed, and collateralized securities: Due in 1 year or less $ 156 $ 157 Due after 1 year through 5 years 575 598 Due after 5 years through 10 years 476 529 Due after 10 years 122 138 Mortgage-backed, asset-backed, and collateralized securities 289 321 Total $ 1,618 $ 1,743
Schedule of fair value of other securities by type	The fair value of other securities by type was as follows: (dollars in millions) March 31, 2024 December 31, 2023 Fixed maturity other securities: Bonds $ 22 $ 22 Preferred stock 15 16 Common stock 36 34 Total $ 73 $ 72

Long-term Debt (Tables)

Long-term Debt (Tables)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of principal maturities of long-term debt	Principal maturities of long-term debt by type of debt at March 31, 2024 were as follows: Senior Debt (dollars in millions) Securitizations Private Secured Term Funding Revolving Unsecured Junior Total Interest rates (b) 0.87%-7.52% 6.35% 6.81 % 3.50%-9.00% 7.33 % Remainder of 2024 $ — $ — $ — $ — $ — $ — 2025 — — — 1,110 — 1,110 2026 — — — 1,600 — 1,600 2027 — — — 750 — 750 2028 — — — 1,350 — 1,350 2029-2067 — — — 3,182 350 3,532 Secured (c) 11,112 350 1 — — 11,463 Total principal maturities $ 11,112 $ 350 $ 1 $ 7,992 $ 350 $ 19,805 Total carrying amount $ 11,069 $ 350 $ 1 $ 7,928 $ 172 $ 19,520 Debt issuance costs (d) (39) — — (60) — (99) (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 March 31, 2024. (c) Securitizations, private secured term funding, and borrowings under the revolving conduit facilities are not included in the above maturities by period due to their variable monthly repayments, which may result in pay-off prior to the stated maturity date. See Note 7 for further information on our long-term debt associated with securitizations, private secured term funding, and revolving conduit facilities. (d) Debt issuance costs are reported as a direct deduction from long-term debt, with the exception of debt issuance costs associated with our revolving conduit facilities, credit card revolving variable funding note (“VFN”) facilities, and unsecured corporate revolver, which totaled $38 million at March 31, 2024 and are reported in Other assets in our condensed consolidated balance sheets.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Carrying amounts of consolidated VIE assets and liabilities	The carrying amounts of consolidated VIE assets and liabilities associated with our securitization trusts, private secured term funding, revolving conduit facilities, and credit card revolving VFN facilities were as follows: (dollars in millions) March 31, 2024 December 31, 2023 Assets Cash and cash equivalents $ 3 $ 2 Net finance receivables 12,641 12,780 Allowance for finance receivable losses 1,429 1,428 Restricted cash and restricted cash equivalents 576 523 Other assets 36 32 Liabilities Long-term debt $ 11,420 $ 11,579 Other liabilities 27 27

Insurance (Tables)

Insurance (Tables)	3 Months Ended
	Mar. 31, 2024
Insurance [Abstract]
Changes in the reserve for unpaid claims and loss adjustment expenses	Changes in the reserve for unpaid claims and loss adjustment expenses (net of reinsurance recoverables) on our short-duration insurance contracts: At or for the (dollars in millions) 2024 2023 Balance at beginning of period $ 108 $ 93 Less reinsurance recoverables (3) (3) Net balance at beginning of period 105 90 Additions for losses and loss adjustment expenses incurred to: Current year 52 42 Prior years * (5) (1) Total 47 41 Reductions for losses and loss adjustment expenses paid related to: Current year (15) (12) Prior years (32) (27) Total (47) (39) Net balance at end of period 105 92 Plus reinsurance recoverables 3 3 Balance at end of period $ 108 $ 95 * At March 31, 2024, there was a redundancy in the prior years’ net reserves due to favorable development of collateral protection claims during the period. At March 31, 2023, there was a redundancy in the prior years’ net reserves, due to favorable development of credit disability claims during the period.
Liability for Future Policy Benefit, Activity	The present value of expected net premiums on long-duration insurance contracts were as follows: At or for the 2024 2023 (dollars in millions) Term and Accidental Death and Disability Protection Term and Accidental Death and Disability Protection Balance at beginning of period $ 217 $ 41 $ 252 $ 48 Effect of cumulative changes in discount rate assumptions (beginning of period) (5) — (8) — Beginning balance at original discount rate 212 41 244 48 Effect of actual variances from expected experience (8) — (2) — Adjusted balance at beginning of period 204 41 242 48 Interest accretion 3 — 6 — Net premiums collected (7) (1) (7) (2) Ending balance at original discount rate 200 40 241 46 Effect of changes in discount rate assumptions — (1) 5 — Balance at ending of period $ 200 $ 39 $ 246 $ 46 The present value of expected future policy benefits on long-duration insurance contracts were as follows: At or for the 2024 2023 (dollars in millions) Term and Accidental Death and Disability Protection Term and Accidental Death and Disability Protection Balance at beginning of period $ 435 $ 113 $ 483 $ 126 Effect of cumulative changes in discount rate assumptions (beginning of period) (12) — (17) (1) Beginning balance at original discount rate 423 113 466 125 Effect of actual variances from expected experience (9) (1) 1 (1) Adjusted balance at beginning of period 414 112 467 124 Net issuances 1 — 1 — Interest accretion 5 1 9 3 Benefit payments (13) (4) (16) (4) Ending balance at original discount rate 407 109 461 123 Effect of changes in discount rate assumptions 3 (2) 12 — Balance at ending of period $ 410 $ 107 $ 473 $ 123 The net liability for future policy benefits on long-duration insurance contracts were as follows: At or for the 2024 2023 (dollars in millions) Term and Accidental Death and Disability Protection Term and Accidental Death and Disability Protection Net liability for future policy benefits $ 210 $ 68 $ 227 $ 77 Deferred profit liability 13 51 15 54 Total net liability for future policy benefits $ 223 $ 119 $ 242 $ 131 The following table reconciles the net liability for future policy benefits to Insurance claims and policyholder liabilities in the condensed consolidated balance sheets: At or for the (dollars in millions) 2024 2023 Term and whole life $ 223 $ 242 Accidental death and disability protection 119 131 Other* 255 242 Total $ 597 $ 615 * 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 2024 2023 (dollars in millions) Term and Accidental Death and Disability Protection Term and Accidental Death and Disability Protection Expected future gross premiums: Undiscounted $ 411 $ 142 $ 466 $ 159 Discounted 293 101 326 114 Expected future benefit payments: Undiscounted 582 162 670 181 Discounted 410 107 473 123 The revenue and interest accretion related to our long-duration insurance contracts recognized in the condensed consolidated statements of operations were as follows: At or for the 2024 2023 (dollars in millions) Term and Accidental Death and Disability Protection Term and Accidental Death and Disability Protection Gross premiums or assessments $ 13 $ 5 $ 11 $ 5 Interest accretion $ 3 $ 1 $ 3 $ 3 The weighted-average interest rates for the liability of future policy benefits for our long-duration insurance contracts were as follows: At or for the 2024 2023 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 5.33 % 5.35 % 5.07 % 5.06 %
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 2024 2023 Term and Accidental Death and Disability Protection Term and Accidental Death and Disability Protection Mortality/Morbidity: Expected 0.37 % 0.01 % 0.39 % 0.01 % Actual 0.38 % 0.01 % 0.31 % 0.01 % Lapses: Expected 4.68 % 1.96 % 3.18 % 2.24 % Actual 3.35 % 2.51 % 1.67 % 0.34 %

Capital Stock and Earnings Pe_2

Capital Stock and Earnings Per Share (OMH Only) (Tables)	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Schedule of changes in shares issued and outstanding	Changes in OMH shares of common stock issued and outstanding were as follows: Three Months Ended March 31, 2024 2023 Balance at beginning of period 119,757,277 121,042,125 Common stock issued 211,702 207,403 Common stock repurchased (108,685) (683,384) Treasury stock issued 16,958 21,070 Balance at end of period 119,877,252 120,587,214
Computation of earnings per share	The computation of earnings per share was as follows: Three Months Ended March 31, (dollars in millions, except per share data) 2024 2023 Numerator (basic and diluted): Net income $ 155 $ 179 Denominator: Weighted average number of shares outstanding (basic) 119,829,174 120,765,661 Effect of dilutive securities * 415,495 204,230 Weighted average number of shares outstanding (diluted) 120,244,669 120,969,891 Earnings per share: Basic $ 1.29 $ 1.48 Diluted $ 1.29 $ 1.48 *

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Changes, net of tax, in accumulated other comprehensive income (loss)	Changes, net of tax, in Accumulated other comprehensive income (loss) were as follows: (dollars in millions) Unrealized Retirement Foreign Changes in discount rate for insurance claims and policyholder liabilities Other (b) Total Three Months Ended Balance at beginning of period $ (93) $ (8) $ (2) $ (5) $ 21 $ (87) Other comprehensive income (loss) before reclassifications (6) — (3) 5 — (4) Balance at end of period $ (99) $ (8) $ (5) $ — $ 21 $ (91) Three Months Ended Balance at beginning of period $ (131) $ (8) $ (5) $ (8) $ 25 $ (127) Other comprehensive income (loss) before reclassifications 19 — — 3 (3) 19 Balance at end of period $ (112) $ (8) $ (5) $ (5) $ 22 $ (108) (a) There were no material amounts related to available-for-sale debt securities for which an allowance for credit losses was recorded during the three months ended March 31, 2024 and 2023. (b) Other primarily includes changes in the fair value of our mark-to-market derivative instruments that have been designated as cash flow hedges. Reclassification adjustments from Accumulated other comprehensive income (loss) to the applicable line item on our condensed consolidated statements of operations were immaterial for the three months ended March 31, 2024 and 2023.

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Information about the Company's segments	The following tables present information about C&I and Other, as well as reconciliations to the condensed consolidated financial statement amounts. (dollars in millions) Consumer Other Segment to Consolidated Three Months Ended March 31, 2024 Interest income $ 1,172 $ 1 $ — $ 1,173 Interest expense 276 1 — 277 Provision for finance receivable losses 431 — — 431 Net interest income after provision for finance receivable losses 465 — — 465 Other revenues 178 2 — 180 Other expenses 440 2 (1) 441 Income (loss) before income tax expense (benefit) $ 203 $ — $ 1 $ 204 Assets $ 22,672 $ 18 $ 1,218 $ 23,908 Three Months Ended March 31, 2023 Interest income $ 1,092 $ 1 $ 1 $ 1,094 Interest expense 238 — 1 239 Provision for finance receivable losses 385 — — 385 Net interest income after provision for finance receivable losses 469 1 — 470 Other revenues 176 1 — 177 Other expenses 409 3 — 412 Income before income tax expense $ 236 $ (1) $ — $ 235 Assets $ 21,199 $ 30 $ 1,214 $ 22,443

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of fair values and carrying values of financial instruments and fair value hierarchy based on the level of inputs utilized to determine such fair value	The following table presents the carrying amounts and estimated fair values of our financial instruments and indicates the level in the fair value hierarchy of the estimated fair value measurement based on the observability of the inputs used: Fair Value Measurements Using Total Total (dollars in millions) Level 1 Level 2 Level 3 March 31, 2024 Assets Cash and cash equivalents $ 807 $ 24 $ — $ 831 $ 831 Investment securities 55 1,633 3 1,691 1,691 Net finance receivables, less allowance for finance receivable losses — — 20,293 20,293 18,629 Restricted cash and restricted cash equivalents 596 3 — 599 599 Other assets * — — 39 39 28 Liabilities Long-term debt $ — $ 19,224 $ — $ 19,224 $ 19,520 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 *
Schedule of assets and liabilities measured at fair value on a recurring basis	The following tables present information about our assets measured at fair value on a recurring basis and indicates the fair value hierarchy based on the levels of inputs we utilized to determine such fair value: Fair Value Measurements Using Total Carried At Fair Value (dollars in millions) Level 1 Level 2 Level 3 March 31, 2024 Assets Cash equivalents in mutual funds $ 99 $ — $ — $ 99 Cash equivalents in securities — 24 — 24 Investment securities: Available-for-sale securities U.S. government and government sponsored entities — 18 — 18 Obligations of states, municipalities, and political subdivisions — 66 — 66 Commercial paper — 21 — 21 Non-U.S. government and government sponsored entities — 154 — 154 Corporate debt 6 1,063 1 1,070 RMBS — 180 — 180 CMBS — 33 — 33 CDO/ABS — 76 — 76 Total available-for-sale securities 6 1,611 1 1,618 Other securities Bonds: Corporate debt — 4 — 4 CDO/ABS — 18 — 18 Total bonds — 22 — 22 Preferred stock 15 — — 15 Common stock 34 — 2 36 Total other securities 49 22 2 73 Total investment securities 55 1,633 3 1,691 Restricted cash equivalents in mutual funds 580 — — 580 Restricted cash equivalents in securities — 3 — 3 Total $ 734 $ 1,660 $ 3 $ 2,397 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

Finance Receivables - Additiona

Finance Receivables - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Whole loan sale flow agreement, loans sold	$ 630,000,000
Proceeds from sale of gross finance receivables	110,000,000	$ 180,000,000
Gain on sale of financing receivables	6,000,000	17,000,000
Unused credit card lines	$ 263,000,000		$ 223,000,000
Credit Cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Threshold period past due	180 days
Minimum | Auto Finance
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables, original term	3 years
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	2 years
Maximum | Auto Finance
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables, original term	6 years
Maximum | Personal Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables, original term	6 years
Unlikely to be Collected Financing Receivable | Total Consumer Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Threshold period past due	60 days
Nonperforming (Nonaccrual) | Total Consumer Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Threshold period past due	90 days
Interest income	$ 0	0
Nonperforming (Nonaccrual) | Auto Finance
Accounts, Notes, Loans and Financing Receivable [Line Items]
Reversal of net accrued finance charges and fees	0	0
Interest income	0	0
Nonperforming (Nonaccrual) | Personal Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Reversal of net accrued finance charges and fees	$ 41,000,000	37,000,000
Nonperforming (Nonaccrual) | Credit Cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Reversal of net accrued finance charges and fees		$ 0

Finance Receivables - Net Finan

Finance Receivables - Net Finance Receivables by Type (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	$ 20,795	$ 21,043
Unearned fees	(233)	(236)
Accrued finance charges and fees	318	333
Deferred origination costs	203	209
Financing Receivable, Total	21,083	21,349
Total Consumer Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	20,418	20,721
Unearned fees	(233)	(236)
Accrued finance charges and fees	318	333
Deferred origination costs	194	201
Financing Receivable, Total	20,697	21,019
Personal Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	19,575	19,977
Unearned fees	(217)	(223)
Accrued finance charges and fees	310	326
Deferred origination costs	186	194
Financing Receivable, Total	19,854	20,274
Auto Finance
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	843	744
Unearned fees	(16)	(13)
Accrued finance charges and fees	8	7
Deferred origination costs	8	7
Financing Receivable, Total	843	745
Credit Cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	377	322
Unearned fees	0	0
Accrued finance charges and fees	0	0
Deferred origination costs	9	8
Financing Receivable, Total	$ 386	$ 330

Finance Receivables - Delinquen

Finance Receivables - Delinquent and Nonperforming Finance Receivables, by Year of Origination (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Financing Receivable By Year Originated
Financing Receivable, Total	$ 21,083		$ 21,349
Gross charge-offs *
Financing Receivable, Gross Charge-Offs	534	$ 451
Personal Loans
Financing Receivable By Year Originated
Year One	2,214		10,071
Prior Year Two	8,996		6,043
Prior Year Three	5,230		2,744
Prior Year Four	2,309		860
Prior Year Five	687		423
Prior Year Six	418		133
Financing Receivable, Total	19,854		20,274
Gross charge-offs *
Year One	0	0
Prior Year Two	115	136
Prior Year Three	223	198
Prior Year Four	119	59
Prior Year Five	33	34
Prior Year Six	23	14
Financing Receivable, Gross Charge-Offs	513	$ 441
Auto Finance
Financing Receivable By Year Originated
Year One	163		489
Prior Year Two	453		217
Prior Year Three	193		37
Prior Year Four	33		2
Prior Year Five	1		0
Prior Year Six	0		0
Financing Receivable, Total	843		745
Gross charge-offs *
Year One	0		0
Prior Year Two	3		3
Prior Year Three	5		1
Prior Year Four	1		0
Prior Year Five	0		0
Prior Year Six	0		0
Financing Receivable, Gross Charge-Offs	9		4
Performing | Personal Loans
Financing Receivable By Year Originated
Year One	2,214		9,946
Prior Year Two	8,813		5,784
Prior Year Three	5,009		2,601
Prior Year Four	2,191		820
Prior Year Five	653		402
Prior Year Six	393		125
Financing Receivable, Total	19,273		19,678
Performing | Auto Finance
Financing Receivable By Year Originated
Year One	163		486
Prior Year Two	449		212
Prior Year Three	188		36
Prior Year Four	32		2
Prior Year Five	1		0
Prior Year Six	0		0
Financing Receivable, Total	833		736
Performing | Current | Personal Loans
Financing Receivable By Year Originated
Year One	2,212		9,759
Prior Year Two	8,615		5,527
Prior Year Three	4,822		2,454
Prior Year Four	2,089		776
Prior Year Five	622		376
Prior Year Six	368		114
Financing Receivable, Total	18,728		19,006
Performing | Current | Auto Finance
Financing Receivable By Year Originated
Year One	163		480
Prior Year Two	441		203
Prior Year Three	181		34
Prior Year Four	30		2
Prior Year Five	1		0
Prior Year Six	0		0
Financing Receivable, Total	816		719
Performing | 30-59 days past due | Personal Loans
Financing Receivable By Year Originated
Year One	2		113
Prior Year Two	118		153
Prior Year Three	111		88
Prior Year Four	61		27
Prior Year Five	19		16
Prior Year Six	15		7
Financing Receivable, Total	326		404
Performing | 30-59 days past due | Auto Finance
Financing Receivable By Year Originated
Year One	0		4
Prior Year Two	5		6
Prior Year Three	5		2
Prior Year Four	1		0
Prior Year Five	0		0
Prior Year Six	0		0
Financing Receivable, Total	11		12
Performing | 60-89 days past due | Personal Loans
Financing Receivable By Year Originated
Year One	0		74
Prior Year Two	80		104
Prior Year Three	76		59
Prior Year Four	41		17
Prior Year Five	12		10
Prior Year Six	10		4
Financing Receivable, Total	219		268
Performing | 60-89 days past due | Auto Finance
Financing Receivable By Year Originated
Year One	0		2
Prior Year Two	3		3
Prior Year Three	2		0
Prior Year Four	1		0
Prior Year Five	0		0
Prior Year Six	0		0
Financing Receivable, Total	6		5
Nonperforming (Nonaccrual) | 90+ days past due | Personal Loans
Financing Receivable By Year Originated
Year One	0		125
Prior Year Two	183		259
Prior Year Three	221		143
Prior Year Four	118		40
Prior Year Five	34		21
Prior Year Six	25		8
Financing Receivable, Total	581		596
Nonperforming (Nonaccrual) | 90+ days past due | Auto Finance
Financing Receivable By Year Originated
Year One	0		3
Prior Year Two	4		5
Prior Year Three	5		1
Prior Year Four	1		0
Prior Year Five	0		0
Prior Year Six	0		0
Financing Receivable, Total	$ 10		$ 9

Finance Receivables - Summary o

Finance Receivables - Summary of Credit Cards by Number of Days Delinquent (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Delinquency by finance receivables type
Net finance receivables	$ 21,083	$ 21,349
Credit Cards
Delinquency by finance receivables type
Net finance receivables	386	330
Credit Cards | Current
Delinquency by finance receivables type
Net finance receivables	343	297
Credit Cards | 30-59 days past due
Delinquency by finance receivables type
Net finance receivables	10	9
Credit Cards | 60-89 days past due
Delinquency by finance receivables type
Net finance receivables	9	7
Credit Cards | 90+ days past due
Delinquency by finance receivables type
Net finance receivables	$ 24	$ 17

Finance Receivables - Modified

Finance Receivables - Modified Financing Receivables To Borrowers Experiencing Financial Difficulty (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Personal Loans
Financing Receivable, Modified [Line Items]
Modifications to borrowers experiencing financial difficulties	$ 275	$ 221
Modifications as a percent of net finance receivables by class	1.38%	1.15%
Personal Loans | Interest rate reduction and term extension
Financing Receivable, Modified [Line Items]
Modifications to borrowers experiencing financial difficulties	$ 156	$ 125
Personal Loans | Interest rate reduction and principal forgiveness
Financing Receivable, Modified [Line Items]
Modifications to borrowers experiencing financial difficulties	119	96
Auto Finance
Financing Receivable, Modified [Line Items]
Modifications to borrowers experiencing financial difficulties	$ 5	$ 1
Modifications as a percent of net finance receivables by class	0.56%	0.33%
Auto Finance | Interest rate reduction and term extension
Financing Receivable, Modified [Line Items]
Modifications to borrowers experiencing financial difficulties	$ 5	$ 1
Auto Finance | Interest rate reduction and principal forgiveness
Financing Receivable, Modified [Line Items]
Modifications to borrowers experiencing financial difficulties	$ 0	$ 0

Finance Receivables - Modifie_2

Finance Receivables - Modified Financing Receivables Financial Effects (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Personal Loans
Financing Receivable, Modified [Line Items]
Weighted-average interest rate reduction	17.56%	21.38%
Weighted-average term extension (months)	25 months	19 months
Principal/interest forgiveness	$ 11	$ 11
Auto Finance
Financing Receivable, Modified [Line Items]
Weighted-average interest rate reduction	11.16%	12.56%
Weighted-average term extension (months)	28 months	20 months
Principal/interest forgiveness	$ 0	$ 0

Finance Receivables - Modifie_3

Finance Receivables - Modified Financing Receivables Days Delinquent (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Personal Loans
Financing Receivable, Modified [Line Items]
Modified financing receivables	$ 815	$ 221
Finance receivables subsequently charged off	55
Auto Finance
Financing Receivable, Modified [Line Items]
Modified financing receivables	9	1
Finance receivables subsequently charged off	1
Current | Personal Loans
Financing Receivable, Modified [Line Items]
Modified financing receivables	611	158
Current | Auto Finance
Financing Receivable, Modified [Line Items]
Modified financing receivables	7	1
30-59 days past due | Personal Loans
Financing Receivable, Modified [Line Items]
Modified financing receivables	55	27
30-59 days past due | Auto Finance
Financing Receivable, Modified [Line Items]
Modified financing receivables	1	0
60-89 days past due | Personal Loans
Financing Receivable, Modified [Line Items]
Modified financing receivables	44	14
60-89 days past due | Auto Finance
Financing Receivable, Modified [Line Items]
Modified financing receivables	0	0
90+ days past due | Personal Loans
Financing Receivable, Modified [Line Items]
Modified financing receivables	105	22
90+ days past due | Auto Finance
Financing Receivable, Modified [Line Items]
Modified financing receivables	$ 1	$ 0

Finance Receivables - Modifie_4

Finance Receivables - Modified Finance Receivables, Nonperforming (Details) - Nonperforming (Nonaccrual) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
Personal Loans
Financing Receivable, Modified [Line Items]
Modified finance receivables	$ 60
Personal Loans | Interest rate reduction and term extension
Financing Receivable, Modified [Line Items]
Modified finance receivables	44
Personal Loans | Interest rate reduction and principal forgiveness
Financing Receivable, Modified [Line Items]
Modified finance receivables	16
Auto Finance
Financing Receivable, Modified [Line Items]
Modified finance receivables	1
Auto Finance | Interest rate reduction and term extension
Financing Receivable, Modified [Line Items]
Modified finance receivables	1
Auto Finance | Interest rate reduction and principal forgiveness
Financing Receivable, Modified [Line Items]
Modified finance receivables	$ 0

Allowance for Finance Receiva_3

Allowance for Finance Receivable Losses - Changes in Allowance by Type (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Changes in allowance for finance receivable losses
Balance at beginning of period	$ 2,480	$ 2,311	$ 2,311
Provision for finance receivable losses	431	385
Charge-offs	(534)	(451)
Recoveries	77	69
Balance at end of period	2,454	2,298	2,480
Net impact of adoption of ASU 2022-02
Changes in allowance for finance receivable losses
Balance at beginning of period		(16)	(16)
Total Consumer Loans
Changes in allowance for finance receivable losses
Balance at beginning of period	2,415	2,290	2,290
Provision for finance receivable losses	406	377
Charge-offs	(522)	(445)
Recoveries	77	69
Balance at end of period	2,376	2,275	2,415
Total Consumer Loans | Net impact of adoption of ASU 2022-02
Changes in allowance for finance receivable losses
Balance at beginning of period		(16)	(16)
Credit Cards
Changes in allowance for finance receivable losses
Balance at beginning of period	65	21	21
Provision for finance receivable losses	25	8
Charge-offs	(12)	(6)
Recoveries	0	0
Balance at end of period	$ 78	23	65
Credit Cards | Net impact of adoption of ASU 2022-02
Changes in allowance for finance receivable losses
Balance at beginning of period		$ 0	$ 0

Investment Securities - Cost_Am

Investment Securities - Cost/Amortized, Unrealized Gains/Losses & FV on AFS Investment Securities (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	$ 1,743	$ 1,765
Unrealized Gains	4	5
Unrealized Losses	(129)	(123)
Fair Value	1,618	1,647
U.S. government and government sponsored entities
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	19	18
Unrealized Gains	0	0
Unrealized Losses	(1)	(1)
Fair Value	18	17
Obligations of states, municipalities, and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	72	72
Unrealized Gains	0	0
Unrealized Losses	(6)	(6)
Fair Value	66	66
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	21	14
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	21	14
Non-U.S. government and government sponsored entities
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	161	172
Unrealized Gains	0	1
Unrealized Losses	(7)	(6)
Fair Value	154	167
Corporate debt
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	1,149	1,160
Unrealized Gains	4	4
Unrealized Losses	(83)	(79)
Fair Value	1,070	1,085
RMBS
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	204	202
Unrealized Gains	0	0
Unrealized Losses	(24)	(22)
Fair Value	180	180
CMBS
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	36	36
Unrealized Gains	0	0
Unrealized Losses	(3)	(3)
Fair Value	33	33
CDO/ABS
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	81	91
Unrealized Gains	0	0
Unrealized Losses	(5)	(6)
Fair Value	$ 76	$ 85

Investment Securities - Additio

Investment Securities - Additional Information (Details)	3 Months Ended
	Mar. 31, 2024 USD ($) investment	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2023 USD ($) investment
Investments, Debt and Equity Securities [Abstract]
Interest receivable	$ 14,000,000			$ 14,000,000
Investment securities in an unrealized loss position | investment	2,036			1,984
Proceeds from sales and redemptions	$ 19,000,000	$ 26,000,000
Securities on deposit with third parties	512,000,000			$ 524,000,000
Net unrealized gains (losses) on other securities held	$ 0		$ 0

Investment Securities - Fair Va

Investment Securities - Fair Value and Unrealized Losses on AFS Investment Securities (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Fair Value
Less Than 12 Months	$ 122	$ 62
12 Months or Longer	1,292	1,341
Total	1,414	1,403
Unrealized Losses *
Less Than 12 Months	0	0
12 Months or Longer	(129)	(123)
Total	(129)	(123)
U.S. government and government sponsored entities
Fair Value
Less Than 12 Months	4	1
12 Months or Longer	11	11
Total	15	12
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	2
12 Months or Longer	61	62
Total	63	64
Unrealized Losses *
Less Than 12 Months	0	0
12 Months or Longer	(6)	(6)
Total	(6)	(6)
Commercial paper
Fair Value
Less Than 12 Months	21	14
12 Months or Longer	0	0
Total	21	14
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	26	22
12 Months or Longer	96	97
Total	122	119
Unrealized Losses *
Less Than 12 Months	0	0
12 Months or Longer	(7)	(6)
Total	(7)	(6)
Corporate debt
Fair Value
Less Than 12 Months	60	15
12 Months or Longer	885	925
Total	945	940
Unrealized Losses *
Less Than 12 Months	0	0
12 Months or Longer	(83)	(79)
Total	(83)	(79)
RMBS
Fair Value
Less Than 12 Months	5	5
12 Months or Longer	152	152
Total	157	157
Unrealized Losses *
Less Than 12 Months	0	0
12 Months or Longer	(24)	(22)
Total	(24)	(22)
CMBS
Fair Value
Less Than 12 Months	0	2
12 Months or Longer	33	32
Total	33	34
Unrealized Losses *
Less Than 12 Months	0	0
12 Months or Longer	(3)	(3)
Total	(3)	(3)
CDO/ABS
Fair Value
Less Than 12 Months	4	1
12 Months or Longer	54	62
Total	58	63
Unrealized Losses *
Less Than 12 Months	0	0
12 Months or Longer	(5)	(6)
Total	$ (5)	$ (6)

Investment Securities - Contrac

Investment Securities - Contractual Maturities of AFS Investment Securities (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Fixed maturities, excluding mortgage-backed, asset-backed, and collateralized securities:
Due in 1 year or less	$ 156
Due after 1 year through 5 years	575
Due after 5 years through 10 years	476
Due after 10 years	122
Mortgage-backed, asset-backed, and collateralized securities	289
Fair Value	1,618	$ 1,647
Fixed maturities, excluding mortgage-backed, asset-backed, and collateralized securities:
Due in 1 year or less	157
Due after 1 year through 5 years	598
Due after 5 years through 10 years	529
Due after 10 years	138
Mortgage-backed, asset-backed, and collateralized securities	321
Cost/ Amortized Cost	$ 1,743	$ 1,765

Investment Securities - Fair _2

Investment Securities - Fair Value of Other Securities (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Debt and Equity Securities, FV-NI [Line Items]
Bonds	$ 22	$ 22
Total	73	72
Preferred stock
Debt and Equity Securities, FV-NI [Line Items]
Equity securities	15	16
Common stock
Debt and Equity Securities, FV-NI [Line Items]
Equity securities	$ 36	$ 34

Long-term Debt - Principal Matu

Long-term Debt - Principal Maturities of Long-Term Debt (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Principal maturities of long-term debt by type of debt
Remainder of 2024	$ 0
2025	1,110
2026	1,600
2027	750
2028	1,350
2029-2067	3,532
Secured	11,463
Total principal maturities	19,805
Long-term debt	19,520	$ 19,813
Debt issuance costs	(99)
Securitizations
Principal maturities of long-term debt by type of debt
Remainder of 2024	0
2025	0
2026	0
2027	0
2028	0
2029-2067	0
Secured	11,112
Total principal maturities	11,112
Long-term debt	11,069
Debt issuance costs	$ (39)
Securitizations | Minimum
Long-term debt
Interest rate	0.87%
Securitizations | Maximum
Long-term debt
Interest rate	7.52%
Private Secured Term Funding
Principal maturities of long-term debt by type of debt
Remainder of 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
Private Secured Term Funding | Minimum
Long-term debt
Interest rate	6.35%
Revolving Conduit Facilities
Principal maturities of long-term debt by type of debt
Remainder of 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	6.81%
Revolving Conduit Facilities And Unsecured Corporate Revolver
Principal maturities of long-term debt by type of debt
Debt issuance costs	$ 38
Unsecured Notes | Unsecured Notes
Principal maturities of long-term debt by type of debt
Remainder of 2024	0
2025	1,110
2026	1,600
2027	750
2028	1,350
2029-2067	3,182
Total principal maturities	7,992
Long-term debt	7,928
Debt issuance costs	$ (60)
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	7.33%
Principal maturities of long-term debt by type of debt
Remainder of 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 (Deta

Long-term Debt- Narrative (Details) - Revolver - OMFC - USD ($)	Oct. 25, 2021	Mar. 31, 2024
Debt Instrument [Line Items]
Total borrowing capacity		$ 1,300,000,000
Debt instrument, term	5 years
Outstanding balance		$ 0

Variable Interest Entities - Ca

Variable Interest Entities - Carrying Amount of Consolidated VIEs (Details) - USD ($) $ in Millions	Mar. 31, 2024		Dec. 31, 2023	Mar. 31, 2023		Dec. 31, 2022
Variable Interest Entity [Line Items]
Cash and cash equivalents	$ 831		$ 1,014	$ 544
Net finance receivables	21,083		21,349
Allowance for finance receivable losses	2,454		2,480	2,298		$ 2,311
Restricted cash and restricted cash equivalents	599	[1]	534	$ 531	[1]
Other assets	1,211		1,232
Long-term debt	19,520		19,813
Consolidated VIEs
Variable Interest Entity [Line Items]
Cash and cash equivalents	3		2
Net finance receivables	12,641		12,780
Allowance for finance receivable losses	1,429		1,428
Restricted cash and restricted cash equivalents	576		523
Other assets	36		32
Long-term debt	11,420		11,579
Other liabilities	$ 27		$ 27
[1] Restricted cash and restricted cash equivalents primarily represent funds required to be used for future debt payments relating to our secured transactions.

Variable Interest Entities - Co

Variable Interest Entities - Consolidated VIEs (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Variable Interest Entity [Line Items]
Interest expense	$ 277	$ 239
Consolidated VIEs
Variable Interest Entity [Line Items]
Interest expense	$ 138	$ 101

Variable Interest Entities - Se

Variable Interest Entities - Securitized Borrowings (Details) - Securitizations	3 Months Ended
	Mar. 31, 2024
Minimum
Debt Instrument [Line Items]
Debt instrument, term	2 years
Maximum
Debt Instrument [Line Items]
Debt instrument, term	7 years

Variable Interest Entities - Cr

Variable Interest Entities - Credit Card Revolving VFN Facilities (Details) - Consolidated VIEs $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($) vfn_facility
Debt Instrument [Line Items]
Number of revolving credit card VFN facilities | vfn_facility	2
Revolving Credit Card VFN Facility
Debt Instrument [Line Items]
Total borrowing capacity | $	$ 300
Debt instrument, term	6 years

Variable Interest Entities - Pr

Variable Interest Entities - Private Secured Term Funding (Details) - Private Secured Term Funding - Consolidated VIEs	3 Months Ended
	Mar. 31, 2024 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	3 Months Ended
	Mar. 31, 2024 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 - Changes in the Rese

Insurance - Changes in the Reserve for Unpaid Claims and Loss Adjustment Expenses (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Liability for unpaid claims and claims adjustment expense
Balance at beginning of period	$ 108	$ 93
Less reinsurance recoverables	(3)	(3)	$ (3)	$ (3)
Net balance at beginning of period	105	90
Additions for losses and loss adjustment expenses incurred to:
Current year	52	42
Prior years	(5)	(1)
Total	47	41
Reductions for losses and loss adjustment expenses paid related to:
Current year	(15)	(12)
Prior years	(32)	(27)
Total	(47)	(39)
Net balance at end of period	105	92
Plus reinsurance recoverables	3	3	$ 3	$ 3
Balance at end of period	$ 108	$ 95

Insurance - Present Value of Ex

Insurance - Present Value of Expected Net Premium And Future Policy Benefits (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Term and Whole Life
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Balance at beginning of period	$ 217	$ 252
Effect of changes in discount rate assumptions	0	5	$ 5	$ 8
Beginning balance at original discount rate	212	244
Effect of actual variances from expected experience			(8)	(2)
Adjusted balance at beginning of period			204	242
Interest accretion	3	6
Net premiums collected	(7)	(7)
Ending balance at original discount rate	200	241
Balance at ending of period	200	246
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance at beginning of period	435	483
Effect of changes in discount rate assumptions	(3)	(12)	(12)	(17)
Beginning balance at original discount rate	423	466
Effect of actual variances from expected experience			(9)	1
Adjusted balance at beginning of period			414	467
Net issuances	1	1
Interest accretion	5	9
Benefit payments	(13)	(16)
Ending balance at original discount rate	407	461
Balance at ending of period	410	473
Accidental Death and Disability Protection
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Balance at beginning of period	41	48
Effect of changes in discount rate assumptions	(1)	0	0	0
Beginning balance at original discount rate	41	48
Effect of actual variances from expected experience			0	0
Adjusted balance at beginning of period			41	48
Interest accretion	0	0
Net premiums collected	(1)	(2)
Ending balance at original discount rate	40	46
Balance at ending of period	39	46
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance at beginning of period	113	126
Effect of changes in discount rate assumptions	2	0	0	(1)
Beginning balance at original discount rate	113	125
Effect of actual variances from expected experience			(1)	(1)
Adjusted balance at beginning of period			$ 112	$ 124
Net issuances	0	0
Interest accretion	1	3
Benefit payments	(4)	(4)
Ending balance at original discount rate	109	123
Balance at ending of period	$ 107	$ 123

Insurance - Net Liability for F

Insurance - Net Liability for Future Policy Benefits (Details) - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023
Term and Whole Life
Liability for Future Policy Benefit, Activity [Line Items]
Net liability for future policy benefits	$ 210	$ 227
Deferred profit liability	13	15
Total net liability for future policy benefits	223	242
Accidental Death and Disability Protection
Liability for Future Policy Benefit, Activity [Line Items]
Net liability for future policy benefits	68	77
Deferred profit liability	51	54
Total net liability for future policy benefits	$ 119	$ 131

Insurance - Additional Informat

Insurance - Additional Information (Details)	Mar. 31, 2024	Mar. 31, 2023
Insurance [Abstract]
Weighted-average duration of the liability for future policy benefits	8 years	8 years

Insurance - Reconciliation of N

Insurance - Reconciliation of Net Liability for Future Policy Benefits To the Consolidated Statements of Financial Position (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Liability for Future Policy Benefit, Activity [Line Items]
Insurance claims and policyholder liabilities	$ 597	$ 615	$ 615
Term and Whole Life
Liability for Future Policy Benefit, Activity [Line Items]
Total net liability for future policy benefits	223		242
Accidental Death and Disability Protection
Liability for Future Policy Benefit, Activity [Line Items]
Total net liability for future policy benefits	119		131
Other
Liability for Future Policy Benefit, Activity [Line Items]
Other	$ 255		$ 242

Insurance - Undiscounted and Di

Insurance - Undiscounted and Discounted Expected Gross Premiums And Expected Future Benefits (Details) - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023
Term and Whole Life
Expected future gross premiums:
Undiscounted	$ 411	$ 466
Discounted	293	326
Expected future benefit payments:
Undiscounted	582	670
Discounted	410	473
Accidental Death and Disability Protection
Expected future gross premiums:
Undiscounted	142	159
Discounted	101	114
Expected future benefit payments:
Undiscounted	162	181
Discounted	$ 107	$ 123

Insurance - Consolidated Statem

Insurance - Consolidated Statements of Operations (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Term and Whole Life
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums or assessments	$ 13	$ 11
Interest accretion	3	3
Accidental Death and Disability Protection
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums or assessments	5	5
Interest accretion	$ 1	$ 3

Insurance - Actuarial Assumptio

Insurance - Actuarial Assumptions (Details)	Mar. 31, 2024	Mar. 31, 2023
Measurement Input, Mortality Rate, Expected | Term and Whole Life
Market Risk Benefit [Line Items]
Market risk benefit, measurement input	0.0037	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	0.0038	0.0031
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	0.0468	0.0318
Measurement Input, Lapses, Expected | Accidental Death and Disability Protection
Market Risk Benefit [Line Items]
Market risk benefit, measurement input	0.0196	0.0224
Measurement Input, Lapses, Actual | Term and Whole Life
Market Risk Benefit [Line Items]
Market risk benefit, measurement input	0.0335	0.0167
Measurement Input, Lapses, Actual | Accidental Death and Disability Protection
Market Risk Benefit [Line Items]
Market risk benefit, measurement input	0.0251	0.0034

Insurance - Weighted-Average In

Insurance - Weighted-Average Interest Rates for the Liability of Future Policy Benefits (Details)	Mar. 31, 2024	Mar. 31, 2023
Term and Whole Life
Additional Liability, Long-Duration Insurance [Line Items]
Interest accretion rate	5.28%	5.26%
Current discount rate	5.33%	5.07%
Accidental Death and Disability Protection
Additional Liability, Long-Duration Insurance [Line Items]
Interest accretion rate	4.87%	4.86%
Current discount rate	5.35%	5.06%

Capital Stock and Earnings Pe_3

Capital Stock and Earnings Per Share (OMH Only) - Additional Information (Details)	3 Months Ended
	Mar. 31, 2024 class
OMH
Class of Stock [Line Items]
Number of classes of authorized stock	2

Capital Stock and Earnings Pe_4

Capital Stock and Earnings Per Share (OMH Only) - Changes in Shares Issued and Outstanding (Details) - shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	119,757,277	121,042,125
Common stock issued (in shares)	211,702	207,403
Common stock repurchased (in shares)	(108,685)	(683,384)
Treasury stock issued (in shares)	16,958	21,070
Ending balance (in shares)	119,877,252	120,587,214

Capital Stock and Earnings Pe_5

Capital Stock and Earnings Per Share (OMH Only) - Computation of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Numerator (basic and diluted):
Net income	$ 155	$ 179
Denominator:
Weighted average number of shares outstanding (basic) (in shares)	119,829,174	120,765,661
Effect of dilutive securities (in shares)	415,495	204,230
Weighted average number of shares outstanding (diluted) (in shares)	120,244,669	120,969,891
Earnings per share:
Basic (in dollars per share)	$ 1.29	$ 1.48
Diluted (in dollars per share)	$ 1.29	$ 1.48
Restricted stock units
Earnings per share:
Shares excluded in the diluted earnings per share calculation (in shares)	728,403	1,543,976

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	$ 3,186	$ 3,015
Other comprehensive income (loss) before reclassifications	(4)	19
Balance at end of period	3,214	3,081
Unrealized Gains (Losses) Available-for-Sale Securities
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	(93)	(131)
Other comprehensive income (loss) before reclassifications	(6)	19
Balance at end of period	(99)	(112)
Retirement Plan Liabilities Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	(8)	(8)
Other comprehensive income (loss) before reclassifications	0	0
Balance at end of period	(8)	(8)
Foreign Currency Translation Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	(2)	(5)
Other comprehensive income (loss) before reclassifications	(3)	0
Balance at end of period	(5)	(5)
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	(5)	(8)
Other comprehensive income (loss) before reclassifications	5	3
Balance at end of period	0	(5)
Other
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	21	25
Other comprehensive income (loss) before reclassifications	0	(3)
Balance at end of period	21	22
Accumulated Other Comprehensive Income (Loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	(87)	(127)
Balance at end of period	$ (91)	$ (108)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Net deferred tax asset	$ 463		$ 477
Effective tax rate	24.10%	24%
Unrecognized tax benefits	$ 11		$ 11

Segment Information - Narrative

Segment Information - Narrative (Details)	3 Months Ended
	Mar. 31, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	1

Segment Information - Schedule

Segment Information - Schedule of Segment Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Segment Reporting Information [Line Items]
Interest income	$ 1,173	$ 1,094
Interest expense	277	239
Provision for finance receivable losses	431	385
Net interest income after provision for finance receivable losses	465	470
Other revenues	180	177
Other expenses	441	412
Income before income taxes	204	235
Total assets	23,908	22,443	$ 24,294
Consumer and Insurance | Consumer and Insurance
Segment Reporting Information [Line Items]
Interest income	1,172	1,092
Interest expense	276	238
Provision for finance receivable losses	431	385
Net interest income after provision for finance receivable losses	465	469
Other revenues	178	176
Other expenses	440	409
Income before income taxes	203	236
Total assets	22,672	21,199
Other
Segment Reporting Information [Line Items]
Interest income	1	1
Interest expense	1	0
Provision for finance receivable losses	0	0
Net interest income after provision for finance receivable losses	0	1
Other revenues	2	1
Other expenses	2	3
Income before income taxes	0	(1)
Total assets	18	30
Segment to GAAP Adjustment
Segment Reporting Information [Line Items]
Interest income	0	1
Interest expense	0	1
Provision for finance receivable losses	0	0
Net interest income after provision for finance receivable losses	0	0
Other revenues	0	0
Other expenses	(1)	0
Income before income taxes	1	0
Total assets	$ 1,218	$ 1,214

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value & Carrying Value Hierarchy Basis (Details) - USD ($) $ in Millions	Mar. 31, 2024		Dec. 31, 2023	Mar. 31, 2023	[1]
Assets
Restricted cash and restricted cash equivalents	$ 599	[1]	$ 534	$ 531
Total Fair Value
Assets
Cash and cash equivalents	831		1,014
Investment securities	1,691		1,719
Net finance receivables, less allowance for finance receivable losses	20,293		20,490
Restricted cash and restricted cash equivalents	599		534
Other assets	39		40
Liabilities
Long-term debt	19,224		19,457
Total Carrying Value
Assets
Cash and cash equivalents	831		1,014
Investment securities	1,691		1,719
Net finance receivables, less allowance for finance receivable losses	18,629		18,869
Restricted cash and restricted cash equivalents	599		534
Other assets	28		29
Liabilities
Long-term debt	19,520		19,813
Level 1
Assets
Cash and cash equivalents	807		1,014
Investment securities	55		54
Net finance receivables, less allowance for finance receivable losses	0		0
Restricted cash and restricted cash equivalents	596		534
Other assets	0		0
Liabilities
Long-term debt	0		0
Level 2
Assets
Cash and cash equivalents	24		0
Investment securities	1,633		1,662
Net finance receivables, less allowance for finance receivable losses	0		0
Restricted cash and restricted cash equivalents	3		0
Other assets	0		0
Liabilities
Long-term debt	19,224		19,457
Level 3
Assets
Cash and cash equivalents	0		0
Investment securities	3		3
Net finance receivables, less allowance for finance receivable losses	20,293		20,490
Restricted cash and restricted cash equivalents	0		0
Other assets	39		40
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	Mar. 31, 2024		Dec. 31, 2023	Mar. 31, 2023	[1]
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	$ 1,618		$ 1,647
Other securities	73		72
Restricted cash and restricted cash equivalents	599	[1]	534	$ 531
U.S. government and government sponsored entities
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	18		17
Obligations of states, municipalities, and political subdivisions
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	66		66
Commercial paper
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	21		14
Non-U.S. government and government sponsored entities
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	154		167
Corporate debt
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	1,070		1,085
RMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	180		180
CMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	33		33
CDO/ABS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	76		85
Level 1
Investments, Debt and Equity Securities [Abstract]
Total investment securities	55		54
Restricted cash and restricted cash equivalents	596		534
Level 2
Investments, Debt and Equity Securities [Abstract]
Total investment securities	1,633		1,662
Restricted cash and restricted cash equivalents	3		0
Level 3
Investments, Debt and Equity Securities [Abstract]
Total investment securities	3		3
Restricted cash and restricted cash equivalents	0		0
Fair Value, Measurements, Recurring
Assets
Cash equivalents in mutual funds	99		97
Cash equivalents in securities	24
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	1,618		1,647
Other securities	73		72
Total investment securities	1,691		1,719
Restricted cash equivalents in mutual funds	580		525
Restricted cash and restricted cash equivalents	3
Total	2,397		2,341
Fair Value, Measurements, Recurring | Total bonds
Investments, Debt and Equity Securities [Abstract]
Other securities	22		22
Fair Value, Measurements, Recurring | U.S. government and government sponsored entities
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	18		17
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	21		14
Fair Value, Measurements, Recurring | Non-U.S. government and government sponsored entities
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	154		167
Fair Value, Measurements, Recurring | Corporate debt
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	1,070		1,085
Other securities	4		4
Fair Value, Measurements, Recurring | RMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	180		180
Fair Value, Measurements, Recurring | CMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	33		33
Fair Value, Measurements, Recurring | CDO/ABS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	76		85
Other securities	18		18
Fair Value, Measurements, Recurring | Preferred stock
Investments, Debt and Equity Securities [Abstract]
Other securities	15		16
Fair Value, Measurements, Recurring | Common stock
Investments, Debt and Equity Securities [Abstract]
Other securities	36		34
Fair Value, Measurements, Recurring | Level 1
Assets
Cash equivalents in mutual funds	99		97
Cash equivalents in securities	0
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	6		6
Other securities	49		48
Total investment securities	55		54
Restricted cash equivalents in mutual funds	580		525
Restricted cash and restricted cash equivalents	0
Total	734		676
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		6
Other securities	0		0
Fair Value, Measurements, Recurring | Level 1 | RMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	0		0
Fair Value, Measurements, Recurring | Level 1 | CMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	0		0
Fair Value, Measurements, Recurring | Level 1 | CDO/ABS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	0		0
Other securities	0		0
Fair Value, Measurements, Recurring | Level 1 | Preferred stock
Investments, Debt and Equity Securities [Abstract]
Other securities	15		16
Fair Value, Measurements, Recurring | Level 1 | Common stock
Investments, Debt and Equity Securities [Abstract]
Other securities	34		32
Fair Value, Measurements, Recurring | Level 2
Assets
Cash equivalents in mutual funds	0		0
Cash equivalents in securities	24
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	1,611		1,640
Other securities	22		22
Total investment securities	1,633		1,662
Restricted cash equivalents in mutual funds	0		0
Total	1,660		1,662
Fair Value, Measurements, Recurring | Level 2 | Total bonds
Investments, Debt and Equity Securities [Abstract]
Other securities	22		22
Fair Value, Measurements, Recurring | Level 2 | U.S. government and government sponsored entities
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	18		17
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	21		14
Fair Value, Measurements, Recurring | Level 2 | Non-U.S. government and government sponsored entities
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	154		167
Fair Value, Measurements, Recurring | Level 2 | Corporate debt
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	1,063		1,078
Other securities	4		4
Fair Value, Measurements, Recurring | Level 2 | RMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	180		180
Fair Value, Measurements, Recurring | Level 2 | CMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	33		33
Fair Value, Measurements, Recurring | Level 2 | CDO/ABS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	76		85
Other securities	18		18
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		1
Other securities	2		2
Total investment securities	3		3
Restricted cash equivalents in mutual funds	0		0
Restricted cash and restricted cash equivalents	0
Total	3		3
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		1
Other securities	0		0
Fair Value, Measurements, Recurring | Level 3 | RMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	0		0
Fair Value, Measurements, Recurring | Level 3 | CMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	0		0
Fair Value, Measurements, Recurring | Level 3 | CDO/ABS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	0		0
Other securities	0		0
Fair Value, Measurements, Recurring | Level 3 | Preferred stock
Investments, Debt and Equity Securities [Abstract]
Other securities	0		0
Fair Value, Measurements, Recurring | Level 3 | Common stock
Investments, Debt and Equity Securities [Abstract]
Other securities	$ 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.

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Millions	Apr. 01, 2024	Mar. 31, 2024	Dec. 31, 2023
Subsequent Event [Line Items]
Net finance receivables		$ 21,083	$ 21,349
Auto Finance
Subsequent Event [Line Items]
Net finance receivables		$ 843	$ 745
Subsequent Event | Foursight Capital LLC | Auto Finance
Subsequent Event [Line Items]
Net finance receivables	$ 900

Uncategorized Items - omf-20240

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2022-02 [Member]