Onemain Finance 10-Q 1 Aug 24 2024 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2024	Jul. 23, 2024
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 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		119,771,117
Entity Central Index Key	0001584207
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
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	Q2

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Jun. 30, 2024		Dec. 31, 2023
Assets
Cash and cash equivalents	$ 667		$ 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)	1,681		1,719
Net finance receivables (includes loans of consolidated VIEs of $14.3 billion in 2024 and $12.8 billion in 2023)	22,365		21,349
Unearned insurance premium and claim reserves	(753)		(771)
Allowance for finance receivable losses (includes allowance of consolidated VIEs of $1.6 billion in 2024 and $1.4 billion in 2023)	(2,564)		(2,480)
Net finance receivables, less unearned insurance premium and claim reserves and allowance for finance receivable losses	19,048		18,098
Restricted cash and restricted cash equivalents (includes restricted cash and restricted cash equivalents of consolidated VIEs of $613 million in 2024 and $523 million in 2023)	630	[1]	534
Goodwill	1,474		1,437
Other intangible assets	289		260
Other assets	1,296		1,232
Total assets	25,085		24,294
Liabilities and Shareholders’ Equity
Long-term debt (includes debt of consolidated VIEs of $12.9 billion in 2024 and $11.6 billion in 2023)	20,671		19,813
Insurance claims and policyholder liabilities	594		615
Deferred and accrued taxes	10		9
Other liabilities (includes other liabilities of consolidated VIEs of $30 million in 2024 and $26 million in 2023)	657		671
Total liabilities	21,932		21,108
Contingencies (Note 14)
Shareholders’ equity:
Common stock, par value $0.01 per share; 2,000,000,000 shares authorized, 119,758,091 and 119,757,277 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively	1		1
Additional paid-in capital	1,723		1,715
Accumulated other comprehensive loss	(95)		(87)
Retained earnings	2,263		2,285
Treasury stock, at cost; 15,606,264 and 15,383,804 shares at June 30, 2024 and December 31, 2023, respectively	(739)		(728)
Total shareholders’ equity	3,153		3,186
Total liabilities and shareholders’ equity	$ 25,085		$ 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	Jun. 30, 2024		Dec. 31, 2023
Investment securities, fair value	$ 1,611		$ 1,647
Investment securities, amortized cost basis	1,737		1,765
Net finance receivables	22,365		21,349
Financing receivable, allowance for credit loss	2,564		2,480
Restricted cash and restricted cash equivalents	630	[1]	534
Long-term debt	20,671		19,813
Other liabilities	$ 657		$ 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)	119,758,091		119,757,277
Common stock, shares outstanding (in shares)	119,758,091		119,757,277
Treasury stock at cost (in shares)	15,606,264		15,383,804
Consolidated VIEs
Net finance receivables	$ 14,325		$ 12,780
Financing receivable, allowance for credit loss	1,624		1,428
Restricted cash and restricted cash equivalents	613		523
Long-term debt	12,935		11,579
Other liabilities	$ 30		$ 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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Interest income	$ 1,219	$ 1,117	$ 2,392	$ 2,210
Interest expense	297	244	574	482
Net interest income	922	873	1,818	1,728
Provision for finance receivable losses	575	479	1,006	865
Net interest income after provision for finance receivable losses	347	394	812	863
Other revenues:
Insurance	111	112	223	222
Investment	30	27	63	52
Gain on sales of finance receivables	6	13	12	31
Net loss on repurchases and repayments of debt	(12)	0	(14)	0
Other	39	33	70	58
Total other revenues	174	185	354	363
Other expenses:
Salaries and benefits	206	219	430	431
Other operating expenses	176	178	343	331
Insurance policy benefits and claims	47	44	97	91
Total other expenses	429	441	870	853
Income before income taxes	92	138	296	373
Income taxes	21	35	71	91
Net income	$ 71	$ 103	$ 225	$ 282
Weighted average number of shares outstanding:
Basic (in shares)	119,787,550	120,539,759	119,808,362	120,652,710
Diluted (in shares)	120,185,181	120,646,869	120,214,925	120,808,380
Earnings per share:
Basic (in dollars per share)	$ 0.59	$ 0.85	$ 1.88	$ 2.33
Diluted (in dollars per share)	$ 0.59	$ 0.85	$ 1.87	$ 2.33

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 71	$ 103	$ 225	$ 282
Other comprehensive income (loss):
Net change in unrealized gains (losses) on non-credit impaired available-for-sale securities	(1)	(15)	(9)	9
Foreign currency translation adjustments	(1)	3	(5)	4
Changes in discount rate for insurance claims and policyholder liabilities	(1)	3	5	6
Other	(1)	1	(1)	(2)
Income tax effect:
Net change in unrealized gains (losses) on non-credit impaired available-for-sale securities	0	3	2	(2)
Foreign currency translation adjustments	0	0	1	(1)
Changes in discount rate for insurance claims and policyholder liabilities	0	(1)	(1)	(1)
Other comprehensive income (loss), net of tax	(4)	(6)	(8)	13
Comprehensive income	$ 67	$ 97	$ 217	$ 295

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		(34)														(34)
Treasury stock issued		1										(1)				2
Share-based compensation expense, net of forfeitures		21						21
Withholding tax on share-based compensation		(8)						(8)
Other comprehensive income (loss)		13								13
Cash dividends	[2]	(244)										(244)
Net income		282										282
Balance at end of period at Jun. 30, 2023		3,058				1		1,702		(114)		2,168				(699)
Balance at beginning of period at Mar. 31, 2023		3,081				1		1,693		(108)		2,188				(693)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock repurchased		(7)														(7)
Treasury stock issued		1														1
Share-based compensation expense, net of forfeitures		9						9
Other comprehensive income (loss)		(6)								(6)
Cash dividends	[3]	(123)										(123)
Net income		103										103
Balance at end of period at Jun. 30, 2023		3,058				1		1,702		(114)		2,168				(699)
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		(13)														(13)
Treasury stock issued		2														2
Share-based compensation expense, net of forfeitures		16						16
Withholding tax on share-based compensation		(8)						(8)
Other comprehensive income (loss)		(8)								(8)
Cash dividends	[2]	(247)										(247)
Net income		225										225
Balance at end of period at Jun. 30, 2024		3,153				1		1,723		(95)		2,263				(739)
Balance at beginning of period at Mar. 31, 2024		3,214				1		1,718		(91)		2,318				(732)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock repurchased		(8)														(8)
Treasury stock issued		1														1
Share-based compensation expense, net of forfeitures		5						5
Other comprehensive income (loss)		(4)								(4)
Cash dividends	[3]	(126)										(126)
Net income		71										71
Balance at end of period at Jun. 30, 2024		$ 3,153				$ 1		$ 1,723		$ (95)		$ 2,263				$ (739)
[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 $2.04 per share and $2.00 per share during the six months ended June 30, 2024 and 2023, respectively. * Cash dividends declared were $1.04 per share and $1.00 per share during the three months ended June 30, 2024 and 2023, respectively.

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Shareholder's Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Stockholders' Equity [Abstract]
Dividends declared (in dollars per share)	$ 1.04	$ 1	$ 2.04	$ 2

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities
Net income		$ 225	$ 282
Reconciling adjustments:
Provision for finance receivable losses		1,006	865
Depreciation and amortization		136	125
Deferred income tax benefit		(12)	(14)
Net loss on repurchases and repayments of debt		14	0
Share-based compensation expense, net of forfeitures		16	21
Gain on sales of finance receivables		(12)	(31)
Other		(2)	(2)
Cash flows due to changes in other assets and other liabilities		(101)	(1)
Net cash provided by operating activities		1,270	1,245
Cash flows from investing activities
Net principal originations and purchases of finance receivables		(1,467)	(1,676)
Proceeds from sales of finance receivables		319	349
Foursight Acquisition, net of cash acquired		(64)	0
Available-for-sale securities purchased		(148)	(83)
Available-for-sale securities called, sold, and matured		167	192
Other securities purchased		(5)	(3)
Other securities called, sold, and matured		8	4
Other, net		(41)	(43)
Net cash used for investing activities		(1,231)	(1,260)
Cash flows from financing activities
Proceeds from issuance and borrowings of long-term debt, net of issuance costs		1,877	2,353
Repayments and repurchases of long-term debt		(1,901)	(1,459)
Cash dividends		(247)	(245)
Common stock repurchased		(13)	(34)
Treasury stock issued		2	2
Withholding tax on share-based compensation		(8)	(8)
Net cash provided by (used for) financing activities		(290)	609
Net change in cash and cash equivalents and restricted cash and restricted cash equivalents		(251)	594
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		1,297	1,553
Supplemental cash flow information
Cash and cash equivalents		667	1,021
Restricted cash and restricted cash equivalents	[1]	630	532
Total cash and cash equivalents and restricted cash and restricted cash equivalents		$ 1,297	$ 1,553
[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	Jun. 30, 2024		Dec. 31, 2023
Assets
Cash and cash equivalents	$ 667		$ 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)	1,681		1,719
Net finance receivables (includes loans of consolidated VIEs of $14.3 billion in 2024 and $12.8 billion in 2023)	22,365		21,349
Unearned insurance premium and claim reserves	(753)		(771)
Allowance for finance receivable losses (includes allowance of consolidated VIEs of $1.6 billion in 2024 and $1.4 billion in 2023)	(2,564)		(2,480)
Net finance receivables, less unearned insurance premium and claim reserves and allowance for finance receivable losses	19,048		18,098
Restricted cash and restricted cash equivalents (includes restricted cash and restricted cash equivalents of consolidated VIEs of $613 million in 2024 and $523 million in 2023)	630	[1]	534
Goodwill	1,474		1,437
Other intangible assets	289		260
Other assets	1,296		1,232
Total assets	25,085		24,294
Liabilities and Shareholders’ Equity
Long-term debt (includes debt of consolidated VIEs of $12.9 billion in 2024 and $11.6 billion in 2023)	20,671		19,813
Insurance claims and policyholder liabilities	594		615
Deferred and accrued taxes	10		9
Other liabilities (includes other liabilities of consolidated VIEs of $30 million in 2024 and $26 million in 2023)	657		671
Total liabilities	21,932		21,108
Contingencies (Note 14)
Shareholders’ equity:
Common stock, par value $0.50 per share; 25,000,000 shares authorized, 10,160,021 shares issued and outstanding at June 30, 2024 and December 31, 2023	1		1
Additional paid-in capital	1,723		1,715
Accumulated other comprehensive loss	(95)		(87)
Retained earnings	2,263		2,285
Total shareholders’ equity	3,153		3,186
Total liabilities and shareholders’ equity	25,085		24,294
Consolidated VIEs
Assets
Cash and cash equivalents	4		2
Net finance receivables (includes loans of consolidated VIEs of $14.3 billion in 2024 and $12.8 billion in 2023)	14,325		12,780
Allowance for finance receivable losses (includes allowance of consolidated VIEs of $1.6 billion in 2024 and $1.4 billion in 2023)	(1,624)		(1,428)
Restricted cash and restricted cash equivalents (includes restricted cash and restricted cash equivalents of consolidated VIEs of $613 million in 2024 and $523 million in 2023)	613		523
Other assets	47		32
Liabilities and Shareholders’ Equity
Long-term debt (includes debt of consolidated VIEs of $12.9 billion in 2024 and $11.6 billion in 2023)	12,935		11,579
Other liabilities (includes other liabilities of consolidated VIEs of $30 million in 2024 and $26 million in 2023)	30		26
OMFC
Assets
Cash and cash equivalents	656		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)	1,681		1,719
Net finance receivables (includes loans of consolidated VIEs of $14.3 billion in 2024 and $12.8 billion in 2023)	22,365		21,349
Unearned insurance premium and claim reserves	(753)		(771)
Allowance for finance receivable losses (includes allowance of consolidated VIEs of $1.6 billion in 2024 and $1.4 billion in 2023)	(2,564)		(2,480)
Net finance receivables, less unearned insurance premium and claim reserves and allowance for finance receivable losses	19,048		18,098
Restricted cash and restricted cash equivalents (includes restricted cash and restricted cash equivalents of consolidated VIEs of $613 million in 2024 and $523 million in 2023)	630	[2]	534
Goodwill	1,474		1,437
Other intangible assets	289		260
Other assets	1,294		1,230
Total assets	25,072		24,289
Liabilities and Shareholders’ Equity
Long-term debt (includes debt of consolidated VIEs of $12.9 billion in 2024 and $11.6 billion in 2023)	20,671		19,813
Insurance claims and policyholder liabilities	594		615
Deferred and accrued taxes	10		9
Other liabilities (includes other liabilities of consolidated VIEs of $30 million in 2024 and $26 million in 2023)	657		672
Total liabilities	21,932		21,109
Contingencies (Note 14)
Shareholders’ equity:
Common stock, par value $0.50 per share; 25,000,000 shares authorized, 10,160,021 shares issued and outstanding at June 30, 2024 and December 31, 2023	5		5
Additional paid-in capital	1,967		1,959
Accumulated other comprehensive loss	(95)		(87)
Retained earnings	1,263		1,303
Total shareholders’ equity	3,140		3,180
Total liabilities and shareholders’ equity	25,072		24,289
OMFC | Consolidated VIEs
Assets
Net finance receivables (includes loans of consolidated VIEs of $14.3 billion in 2024 and $12.8 billion in 2023)	14,300		12,800
Allowance for finance receivable losses (includes allowance of consolidated VIEs of $1.6 billion in 2024 and $1.4 billion in 2023)	(1,600)		(1,400)
Restricted cash and restricted cash equivalents (includes restricted cash and restricted cash equivalents of consolidated VIEs of $613 million in 2024 and $523 million in 2023)	613		523
Liabilities and Shareholders’ Equity
Long-term debt (includes debt of consolidated VIEs of $12.9 billion in 2024 and $11.6 billion in 2023)	12,900		11,600
Other liabilities (includes other liabilities of consolidated VIEs of $30 million in 2024 and $26 million in 2023)	$ 30		$ 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	Jun. 30, 2024		Dec. 31, 2023
Investment securities, fair value	$ 1,611		$ 1,647
Investment securities, amortized cost basis	1,737		1,765
Net finance receivables	22,365		21,349
Financing receivable, allowance for credit loss	2,564		2,480
Restricted cash and restricted cash equivalents	630	[1]	534
Long-term debt	20,671		19,813
Other liabilities	$ 657		$ 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)	119,758,091		119,757,277
Common stock, shares outstanding (in shares)	119,758,091		119,757,277
OMFC
Investment securities, fair value	$ 1,600		$ 1,600
Investment securities, amortized cost basis	1,700		1,800
Net finance receivables	22,365		21,349
Financing receivable, allowance for credit loss	2,564		2,480
Restricted cash and restricted cash equivalents	630	[2]	534
Long-term debt	20,671		19,813
Other liabilities	$ 657		$ 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	$ 14,325		$ 12,780
Financing receivable, allowance for credit loss	1,624		1,428
Restricted cash and restricted cash equivalents	613		523
Long-term debt	12,935		11,579
Other liabilities	30		26
Consolidated VIEs | OMFC
Net finance receivables	14,300		12,800
Financing receivable, allowance for credit loss	1,600		1,400
Restricted cash and restricted cash equivalents	613		523
Long-term debt	12,900		11,600
Other liabilities	$ 30		$ 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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Interest income	$ 1,219	$ 1,117	$ 2,392	$ 2,210
Interest expense	297	244	574	482
Net interest income	922	873	1,818	1,728
Provision for finance receivable losses	575	479	1,006	865
Net interest income after provision for finance receivable losses	347	394	812	863
Other revenues:
Insurance	111	112	223	222
Investment	30	27	63	52
Gain on sales of finance receivables	6	13	12	31
Net loss on repurchases and repayments of debt	(12)	0	(14)	0
Other	39	33	70	58
Total other revenues	174	185	354	363
Other expenses:
Salaries and benefits	206	219	430	431
Other operating expenses	176	178	343	331
Insurance policy benefits and claims	47	44	97	91
Total other expenses	429	441	870	853
Income before income taxes	92	138	296	373
Income taxes	21	35	71	91
Net income	71	103	225	282
OMFC
Interest income	1,219	1,117	2,392	2,210
Interest expense	297	244	574	482
Net interest income	922	873	1,818	1,728
Provision for finance receivable losses	575	479	1,006	865
Net interest income after provision for finance receivable losses	347	394	812	863
Other revenues:
Insurance	111	112	223	222
Investment	30	27	63	52
Gain on sales of finance receivables	6	13	12	31
Net loss on repurchases and repayments of debt	(12)	0	(14)	0
Other	39	33	70	58
Total other revenues	174	185	354	363
Other expenses:
Salaries and benefits	206	219	430	431
Other operating expenses	176	178	343	331
Insurance policy benefits and claims	47	44	97	91
Total other expenses	429	441	870	853
Income before income taxes	92	138	296	373
Income taxes	21	35	71	91
Net income	$ 71	$ 103	$ 225	$ 282

Condensed Consolidated Statem_7

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - OMFC - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net income	$ 71	$ 103	$ 225	$ 282
Other comprehensive income (loss):
Net change in unrealized gains (losses) on non-credit impaired available-for-sale securities	(1)	(15)	(9)	9
Foreign currency translation adjustments	(1)	3	(5)	4
Changes in discount rate for insurance claims and policyholder liabilities	(1)	3	5	6
Other	(1)	1	(1)	(2)
Income tax effect:
Net change in unrealized gains (losses) on non-credit impaired available-for-sale securities	0	3	2	(2)
Foreign currency translation adjustments	0	0	1	(1)
Changes in discount rate for insurance claims and policyholder liabilities	0	(1)	(1)	(1)
Other comprehensive income (loss), net of tax	(4)	(6)	(8)	13
Comprehensive income	67	97	217	295
OMFC
Net income	71	103	225	282
Other comprehensive income (loss):
Net change in unrealized gains (losses) on non-credit impaired available-for-sale securities	(1)	(15)	(9)	9
Foreign currency translation adjustments	(1)	3	(5)	4
Changes in discount rate for insurance claims and policyholder liabilities	(1)	3	5	6
Other	(1)	1	(1)	(2)
Income tax effect:
Net change in unrealized gains (losses) on non-credit impaired available-for-sale securities	0	3	2	(2)
Foreign currency translation adjustments	0	0	1	(1)
Changes in discount rate for insurance claims and policyholder liabilities	0	(1)	(1)	(1)
Other comprehensive income (loss), net of tax	(4)	(6)	(8)	13
Comprehensive income	$ 67	$ 97	$ 217	$ 295

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	21							21									21						21
Withholding tax on share-based compensation	(8)							(8)									(8)						(8)
Other comprehensive income (loss)	13									13							13								13
Cash dividends	(244)	[3]										(244)	[3]				(283)										(283)
Net income	282											282					282										282
Balance at end of period at Jun. 30, 2023	3,058					1		1,702		(114)		2,168					3,041				5		1,946		(114)		1,204
Balance at beginning of period at Mar. 31, 2023	3,081					1		1,693		(108)		2,188					3,068				5		1,937		(108)		1,234
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation expense, net of forfeitures	9							9									9						9
Other comprehensive income (loss)	(6)									(6)							(6)								(6)
Cash dividends	(123)	[4]										(123)	[4]				(133)										(133)
Net income	103											103					103										103
Balance at end of period at Jun. 30, 2023	3,058					1		1,702		(114)		2,168					3,041				5		1,946		(114)		1,204
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	16							16									16						16
Withholding tax on share-based compensation	(8)							(8)									(8)						(8)
Other comprehensive income (loss)	(8)									(8)							(8)								(8)
Cash dividends	(247)	[3]										(247)	[3]				(265)										(265)
Net income	225											225					225										225
Balance at end of period at Jun. 30, 2024	3,153					1		1,723		(95)		2,263					3,140				5		1,967		(95)		1,263
Balance at beginning of period at Mar. 31, 2024	3,214					1		1,718		(91)		2,318					3,194				5		1,962		(91)		1,318
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation expense, net of forfeitures	5							5									5						5
Other comprehensive income (loss)	(4)									(4)							(4)								(4)
Cash dividends	(126)	[4]										(126)	[4]				(126)										(126)
Net income	71											71					71										71
Balance at end of period at Jun. 30, 2024	$ 3,153					$ 1		$ 1,723		$ (95)		$ 2,263					$ 3,140				$ 5		$ 1,967		$ (95)		$ 1,263
[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 $2.04 per share and $2.00 per share during the six months ended June 30, 2024 and 2023, respectively. * Cash dividends declared were $1.04 per share and $1.00 per share during the three months ended June 30, 2024 and 2023, respectively.

Condensed Consolidated Statem_9

Condensed Consolidated Statements of Cash Flows (Unaudited) - OMFC - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities
Net income		$ 225	$ 282
Reconciling adjustments:
Provision for finance receivable losses		1,006	865
Depreciation and amortization		136	125
Deferred income tax benefit		(12)	(14)
Net loss on repurchases and repayments of debt		14	0
Share-based compensation expense, net of forfeitures		16	21
Gain on sales of finance receivables		(12)	(31)
Other		(2)	(2)
Cash flows due to changes in other assets and other liabilities		(101)	(1)
Net cash provided by operating activities		1,270	1,245
Cash flows from investing activities
Net principal originations and purchases of finance receivables		(1,467)	(1,676)
Proceeds from sales of finance receivables		319	349
Foursight Acquisition, net of cash acquired		(64)	0
Available-for-sale securities purchased		(148)	(83)
Available-for-sale securities called, sold, and matured		167	192
Other securities purchased		(5)	(3)
Other securities called, sold, and matured		8	4
Other, net		(41)	(43)
Net cash used for investing activities		(1,231)	(1,260)
Cash flows from financing activities
Proceeds from issuance and borrowings of long-term debt, net of issuance costs		1,877	2,353
Repayments and repurchases of long-term debt		(1,901)	(1,459)
Cash dividends		(247)	(245)
Withholding tax on share-based compensation		(8)	(8)
Net cash provided by (used for) financing activities		(290)	609
Net change in cash and cash equivalents and restricted cash and restricted cash equivalents		(251)	594
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		1,297	1,553
Supplemental cash flow information
Cash and cash equivalents		667	1,021
Restricted cash and restricted cash equivalents	[1]	630	532
Total cash and cash equivalents and restricted cash and restricted cash equivalents		1,297	1,553
OMFC
Cash flows from operating activities
Net income		225	282
Reconciling adjustments:
Provision for finance receivable losses		1,006	865
Depreciation and amortization		136	125
Deferred income tax benefit		(12)	(14)
Net loss on repurchases and repayments of debt		14	0
Share-based compensation expense, net of forfeitures		16	21
Gain on sales of finance receivables		(12)	(31)
Other		(2)	(2)
Cash flows due to changes in other assets and other liabilities		(102)	(1)
Net cash provided by operating activities		1,269	1,245
Cash flows from investing activities
Net principal originations and purchases of finance receivables		(1,467)	(1,676)
Proceeds from sales of finance receivables		319	349
Foursight Acquisition, net of cash acquired		(64)	0
Available-for-sale securities purchased		(148)	(83)
Available-for-sale securities called, sold, and matured		167	192
Other securities purchased		(5)	(3)
Other securities called, sold, and matured		8	4
Other, net		(41)	(43)
Net cash used for investing activities		(1,231)	(1,260)
Cash flows from financing activities
Proceeds from issuance and borrowings of long-term debt, net of issuance costs		1,877	2,353
Repayments and repurchases of long-term debt		(1,901)	(1,459)
Cash dividends		(265)	(283)
Withholding tax on share-based compensation		(8)	(8)
Net cash provided by (used for) financing activities		(297)	603
Net change in cash and cash equivalents and restricted cash and restricted cash equivalents		(259)	588
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		1,286	1,539
Supplemental cash flow information
Cash and cash equivalents		656	1,007
Restricted cash and restricted cash equivalents	[2]	630	532
Total cash and cash equivalents and restricted cash and restricted cash equivalents		$ 1,286	$ 1,539
[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	6 Months Ended
	Jun. 30, 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. To conform to the 2024 presentation, we reclassified certain items in prior periods of our condensed consolidated financial statements.

Foursight Acquisition

Foursight Acquisition	6 Months Ended
	Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Foursight Acquisition	2. Foursight Acquisition On April 1, 2024, we completed the acquisition of all of the outstanding common stock of Foursight Capital LLC (“Foursight”) from Jefferies Financial Group, Inc. for $125 million in cash (“Foursight Acquisition”). Foursight is an automobile finance company that purchases and services automobile retail installment contracts primarily made to near-prime borrowers across the country. Contracts are sourced through an extensive network of dealers. The acquisition supports our expansion into the auto lending business. The acquisition has been accounted for as a business combination using the acquisition method of accounting. The purchase consideration was allocated to the assets acquired and liabilities assumed based on their respective estimated fair values as of April 1, 2024, with the excess recorded to goodwill as shown below. (dollars in millions) Amount Cash consideration $ 125 Fair value of assets acquired: Cash and cash equivalents 10 Net finance receivables 867 Allowance for finance receivable losses (31) Restricted cash and restricted cash equivalents 50 Other intangibles 32 Other assets 21 Fair value of liabilities assumed: Long-term debt 848 Other liabilities 13 Goodwill $ 37 The values assigned to the assets acquired and liabilities assumed are based on preliminary estimates of fair value and may be adjusted during the measurement period of up to 12 months from the date of acquisition as further information becomes available. Any changes in the fair values of the assets acquired and liabilities assumed during the measurement period may result in adjustments to goodwill. The goodwill of $37 million recognized from the Foursight Acquisition reflects the strategic benefits and opportunities of the combined company and is reported in our Consumer and Insurance segment. Tax deductible goodwill is $52 million, reflecting differences in the allocation of purchase price for tax purposes. See Note 7 for a reconciliation of the carrying amount of goodwill at the beginning of 2024 and June 30, 2024. Assets acquired include auto finance receivables with a fair value of $829 million on gross receivables of $908 million. Of this amount, we determined $226 million of gross receivables have experienced more-than-insignificant credit deterioration since origination (“purchased credit deteriorated” or “PCD” loans) and recorded an allowance for finance receivable losses for PCD loans of $31 million at the acquisition date. The remaining loans were deemed to be non-PCD loans, and an additional $61 million was recorded in our Allowance for finance receivable losses and recognized through Provision for finance receivable losses in our condensed consolidated statement of operations for the three and six months ended June 30, 2024. The results of operations of Foursight are included in our condensed consolidated statement of operations subsequent to the acquisition date. We have omitted the pro forma disclosures because we have determined that the acquisition did not have a significant impact to our condensed consolidated financial statements.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2024
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	3. 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	6 Months Ended
	Jun. 30, 2024
Receivables [Abstract]
Finance Receivables	4. 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 June 30, 2024 Gross finance receivables * $ 19,792 $ 1,817 $ 21,609 $ 456 $ 22,065 Unearned fees (222) (22) (244) — (244) Accrued finance charges and fees 314 16 330 — 330 Deferred origination costs 189 15 204 10 214 Total $ 20,073 $ 1,826 $ 21,899 $ 466 $ 22,365 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 $440 million gross receivables of newly originated unsecured personal loans along with any associated accrued interest. Loans sold are derecognized from our balance sheet at the time of sale. We service the 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 $193 million and $303 million of gross finance receivables during the three and six months ended June 30, 2024, respectively, and $135 million and $315 million of gross finance receivables during the three and six months ended June 30, 2023, respectively. The gain on the sales were $6 million and $12 million during the three and six months ended June 30, 2024, respectively and $13 million and $31 million during the three and six months ended June 30, 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 $36 million and $78 million during the three and six months ended June 30, 2024, respectively, and $32 million and $68 million during the three and six months ended June 30, 2023, respectively. For auto finance, reversed net accrued finance charges were immaterial during the three and six months ended June 30, 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 and six months ended June 30, 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 and six months ended June 30, 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 June 30, 2024 Performing Current $ 5,038 $ 7,362 $ 4,098 $ 1,724 $ 482 $ 271 $ 18,975 30-59 days past due 18 137 116 62 19 15 367 60-89 days past due 9 91 77 40 11 9 237 Total performing 5,065 7,590 4,291 1,826 512 295 19,579 Nonperforming (Nonaccrual) 90+ days past due 4 191 166 88 26 19 494 Total $ 5,069 $ 7,781 $ 4,457 $ 1,914 $ 538 $ 314 $ 20,073 Gross charge-offs * $ 2 $ 287 $ 424 $ 223 $ 61 $ 43 $ 1,040 * Represents gross charge-offs for the six months ended June 30, 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 * $ 2 $ 321 $ 365 $ 109 $ 60 $ 25 $ 882 * Represents gross charge-offs for the six months ended June 30, 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 June 30, 2024 Performing Current $ 518 $ 668 $ 353 $ 137 $ 30 $ 23 $ 1,729 30-59 days past due 5 21 21 12 2 3 64 60-89 days past due 2 6 6 2 1 — 17 Total performing 525 695 380 151 33 26 1,810 Nonperforming (Nonaccrual) 90+ days past due — 7 6 2 — 1 16 Total $ 525 $ 702 $ 386 $ 153 $ 33 $ 27 $ 1,826 Gross charge-offs * $ 1 $ 13 $ 15 $ 5 $ 1 $ — $ 35 * Represents gross charge-offs for the six months ended June 30, 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 * $ — $ 6 $ 3 $ — $ — $ — $ 9 * Represents gross charge-offs for the six months ended June 30, 2023. The following is a summary of credit cards by number of days delinquent: (dollars in millions) June 30, 2024 December 31, 2023 Current $ 416 $ 297 30-59 days past due 13 9 60-89 days past due 10 7 90+ days past due 27 17 Total $ 466 $ 330 There were no credit cards that were converted to term loans at June 30, 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 $292 million and $223 million at June 30, 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 June 30, 2024 2023 (dollars in millions) Personal Loans Auto Finance Personal Loans Auto Finance Interest rate reduction and term extension $ 102 $ 5 $ 141 $ 2 Interest rate reduction and principal forgiveness 110 — 97 — Total modifications to borrowers experiencing financial difficulties $ 212 $ 5 $ 238 $ 2 Modifications as a percent of net finance receivables by class 1.05 % 0.29 % 1.20 % 0.36 % Six Months Ended June 30, 2024 2023 (dollars in millions) Personal Loans Auto Finance Personal Loans Auto Finance Interest rate reduction and term extension $ 233 $ 9 $ 256 $ 3 Interest rate reduction and principal forgiveness 215 — 187 — Total modifications to borrowers experiencing financial difficulties $ 448 $ 9 $ 443 $ 3 Modifications as a percent of net finance receivables by class 2.23 % 0.51 % 2.23 % 0.59 % The financial effect of modifications made during the period were as follows: Three Months Ended June 30, 2024 2023 (dollars in millions) Personal Loans Auto Finance Personal Loans Auto Finance Net finance receivables Weighted-average interest rate reduction 19.48 % 13.83 % 20.15 % 12.51 % Weighted-average term extension (months) 19 15 26 24 Principal/interest forgiveness $ 10 $ — $ 9 $ — Six Months Ended June 30, 2024 2023 (dollars in millions) Personal Loans Auto Finance Personal Loans Auto Finance Net finance receivables Weighted-average interest rate reduction 18.41 % 12.20 % 20.75 % 12.53 % Weighted-average term extension (months) 23 23 22 22 Principal/interest forgiveness $ 21 $ — $ 22 $ — The performance of finance receivables modified within the previous 12 months by delinquency status was as follows: June 30, 2024 (a) June 30, 2023 (b) (dollars in millions) Personal Loans Auto Finance Personal Loans Auto Finance Current $ 576 $ 8 $ 332 $ 3 30-59 days past due 61 2 43 — 60-89 days past due 46 1 28 — 90+ days past due 93 1 40 — Total $ 776 $ 12 $ 443 $ 3 (a) Excludes $49 million of personal loan receivables that were modified and subsequently charged off within the previous 12 months. There were no auto finance receivables that were modified and subsequently charged off within the previous 12 months. (b) Excludes $10 million of personal loan receivables that were modified and subsequently charged off. There were no auto finance receivables that were modified and subsequently charged off. 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 June 30, 2024 2023 (dollars in millions) Personal Loans Auto Finance Personal Loans Auto Finance Interest rate reduction and term extension $ 39 $ — $ 11 $ — Interest rate reduction and principal forgiveness 14 — 2 — Total $ 53 $ — $ 13 $ — Six Months Ended June 30, 2024 2023 (dollars in millions) Personal Loans Auto Finance Personal Loans Auto Finance Interest rate reduction and term extension $ 83 $ 1 $ 11 $ — Interest rate reduction and principal forgiveness 31 — 2 — Total $ 114 $ 1 $ 13 $ —

Allowance for Finance Receivabl

Allowance for Finance Receivable Losses	6 Months Ended
	Jun. 30, 2024
Receivables [Abstract]
Allowance for Finance Receivable Losses	5. Allowance for Finance Receivable Losses We establish an allowance for finance receivable losses through the provision for finance receivable losses. We evaluate our finance receivable portfolio by the level of contractual delinquency in the portfolio, specifically in the late-stage delinquency buckets and inclusive of the migration of the finance receivables through the delinquency buckets. We estimate and record an allowance for finance receivable losses to cover the expected lifetime credit losses on our finance receivables. Our allowance for finance receivable losses may fluctuate based upon changes in portfolio growth, credit quality, and economic conditions. 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 June 30, 2024, our economic forecast used a reasonable and supportable period of 12 months. The increase in our allowance for finance receivable losses for the three and six months ended June 30, 2024 was driven by growth in net finance receivables largely attributed to the Foursight Acquisition. 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 June 30, 2024 Balance at beginning of period $ 2,376 $ 78 $ 2,454 Provision for finance receivable losses 533 42 575 Charge-offs (553) (18) (571) Recoveries 75 — 75 Other (a) 31 — 31 Balance at end of period $ 2,462 $ 102 $ 2,564 Three Months Ended June 30, 2023 Balance at beginning of period $ 2,275 $ 23 $ 2,298 Provision for finance receivable losses 464 15 479 Charge-offs (446) (6) (452) Recoveries 67 — 67 Balance at end of period $ 2,360 $ 32 $ 2,392 Six Months Ended June 30, 2024 Balance at beginning of period $ 2,415 $ 65 $ 2,480 Provision for finance receivable losses 939 67 1,006 Charge-offs (1,075) (31) (1,106) Recoveries 152 1 153 Other (a) 31 — 31 Balance at end of period $ 2,462 $ 102 $ 2,564 Six Months Ended June 30, 2023 Balance at beginning of period $ 2,290 $ 21 $ 2,311 Impact of adoption of ASU 2022-02 (b) (16) — (16) Provision for finance receivable losses 841 24 865 Charge-offs (891) (13) (904) Recoveries 136 — 136 Balance at end of period $ 2,360 $ 32 $ 2,392 (a) Represents allowance for finance receivable losses recognized on PCD loans acquired in the Foursight Acquisition. See Note 2 for additional information. (b) 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	6 Months Ended
	Jun. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Investment Securities	6. Investment Securities AVAILABLE-FOR-SALE SECURITIES Cost/amortized cost, allowance for credit losses, unrealized gains and losses, and fair value of fixed maturity available-for-sale securities by type were as follows: (dollars in millions) Cost/ Unrealized Unrealized Fair June 30, 2024* Fixed maturity available-for-sale securities: U.S. government and government sponsored entities $ 12 $ — $ — $ 12 Obligations of states, municipalities, and political subdivisions 71 — (6) 65 Commercial paper 40 — — 40 Non-U.S. government and government sponsored entities 167 1 (7) 161 Corporate debt 1,141 3 (85) 1,059 Mortgage-backed, asset-backed, and collateralized: RMBS 200 — (25) 175 CMBS 29 — (3) 26 CDO/ABS 77 — (4) 73 Total $ 1,737 $ 4 $ (130) $ 1,611 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 June 30, 2024 and December 31, 2023 was immaterial. Interest receivables reported in Other assets in our condensed consolidated balance sheets totaled $14 million as of June 30, 2024 and December 31, 2023. There were no material amounts reversed from investment revenue for available-for-sale securities for the three and six months ended June 30, 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 June 30, 2024 U.S. government and government sponsored entities $ — $ — $ 12 $ — $ 12 $ — Obligations of states, municipalities, and political subdivisions — — 62 (6) 62 (6) Commercial paper 40 — — — 40 — Non-U.S. government and government sponsored entities 8 — 102 (7) 110 (7) Corporate debt 68 (1) 866 (84) 934 (85) Mortgage-backed, asset-backed, and collateralized: RMBS 19 — 147 (25) 166 (25) CMBS — — 26 (3) 26 (3) CDO/ABS — — 50 (4) 50 (4) Total $ 135 $ (1) $ 1,265 $ (129) $ 1,400 $ (130) 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 1,988 and 1,984 investment securities in an unrealized loss position at June 30, 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 June 30, 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 June 30, 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 and six months ended June 30, 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 and six months ended June 30, 2024 and 2023. The proceeds of available-for-sale securities sold or redeemed during the three and six months ended June 30, 2024 totaled $24 million and $44 million, respectively. The proceeds of available-for-sale securities sold or redeemed during the three and six months ended June 30, 2023 totaled $21 million and $47 million, respectively. The net realized gains and losses were immaterial during the three and six months ended June 30, 2024 and 2023. Contractual maturities of fixed-maturity available-for-sale securities at June 30, 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 $ 210 $ 211 Due after 1 year through 5 years 558 582 Due after 5 years through 10 years 449 501 Due after 10 years 120 137 Mortgage-backed, asset-backed, and collateralized securities 274 306 Total $ 1,611 $ 1,737 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 $497 million and $524 million at June 30, 2024 and December 31, 2023, respectively. OTHER SECURITIES The fair value of other securities by type was as follows: (dollars in millions) June 30, 2024 December 31, 2023 Fixed maturity other securities: Bonds $ 21 $ 22 Preferred stock 14 16 Common stock 35 34 Total $ 70 $ 72 Net unrealized gains and losses on other securities held were immaterial for the three and six months ended June 30, 2024 and 2023. Net realized gains and losses on other securities sold or redeemed were immaterial for the three and six months ended June 30, 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.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	7. Goodwill and Other Intangible Assets GOODWILL As a result of the Foursight Acquisition, we recorded $37 million of goodwill, which we report in our Consumer and Insurance segment. See Note 2 for further information. Changes in the carrying amount of goodwill were as follows: (dollars in millions) Consumer and Insurance Six Months Ended June 30, 2024 Balance at beginning of period $ 1,437 Goodwill recognized upon acquisition 37 Balance at end of period $ 1,474 We did not record any impairments to goodwill during the six months ended June 30, 2024. OTHER INTANGIBLE ASSETS The gross carrying amount and accumulated amortization, in total and by major intangible asset class were as follows: (dollars in millions) Gross Carrying Amount * Accumulated Amortization Net Other Intangible Assets June 30, 2024 Trade names $ 224 $ — $ 224 Licenses 25 — 25 Customer relationships 22 (1) 21 VOBA 105 (93) 12 Other 7 — 7 Total $ 383 $ (94) $ 289 December 31, 2023 Trade names $ 220 $ — $ 220 Licenses 25 — 25 VOBA 105 (91) 14 Other 1 — 1 Total $ 351 $ (91) $ 260 * In connection with the Foursight Acquisition, we recorded $32 million of intangible assets.

Long-term Debt

Long-term Debt	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Long-term Debt	8. Long-term Debt Principal maturities of long-term debt by type of debt at June 30, 2024 were as follows: Senior Debt (dollars in millions) Securitizations Private Secured Term Funding Revolving Unsecured Junior Total Interest rates (b) 0.87%-10.98% 6.28% 6.82 % 3.50%-9.00% 7.34 % Remainder of 2024 $ — $ — $ — $ — $ — $ — 2025 — — — — — — 2026 — — — 1,600 — 1,600 2027 — — — 750 — 750 2028 — — — 1,350 — 1,350 2029-2067 — — — 3,932 350 4,282 Secured (c) 12,638 350 1 — — 12,989 Total principal maturities $ 12,638 $ 350 $ 1 $ 7,632 $ 350 $ 20,971 Total carrying amount $ 12,584 $ 350 $ 1 $ 7,564 $ 172 $ 20,671 Debt issuance costs (d) (43) — — (64) — (107) (a) Pursuant to the Base Indenture, the Supplemental Indentures, and the Guaranty Agreements, OMH agreed to fully and unconditionally guarantee, on a senior unsecured basis, payments of principal, premium and interest on the Unsecured Notes and Junior Subordinated Debenture. The OMH guarantees of OMFC’s long-term debt are subject to customary release provisions. (b) The interest rates shown are the range of contractual rates in effect at June 30, 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 9 for further information on our long-term debt associated with securitizations, private secured term funding, and revolving conduit facilities. (d) Debt issuance costs are reported as a direct deduction from long-term debt, with the exception of debt issuance costs associated with our revolving conduit facilities, credit card revolving variable funding note (“VFN”) facilities, and unsecured corporate revolver, which totaled $37 million at June 30, 2024 and are reported in Other assets in our condensed consolidated balance sheets. UNSECURED CORPORATE REVOLVER At June 30, 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.

Variable Interest Entities

Variable Interest Entities	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	9. Variable Interest Entities CONSOLIDATED VIES We have transferred finance receivables to VIEs for asset-backed financing transactions 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) June 30, 2024 December 31, 2023 Assets Cash and cash equivalents $ 4 $ 2 Net finance receivables 14,325 12,780 Allowance for finance receivable losses 1,624 1,428 Restricted cash and restricted cash equivalents 613 523 Other assets 47 32 Liabilities Long-term debt $ 12,935 $ 11,579 Other liabilities 31 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 $161 million and $299 million during the three and six months ended June 30, 2024, respectively, compared to $114 million and $215 million during the three and six months ended June 30, 2023, respectively. SECURITIZED BORROWINGS Our outstanding OMFIT and ODART 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 June 30, 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 June 30, 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 June 30, 2024, the maximum borrowing capacity 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 June 30, 2024. Our

Insurance

Insurance	6 Months Ended
	Jun. 30, 2024
Insurance [Abstract]
Insurance	10. 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 98 83 Prior years * (9) (2) Total 89 81 Reductions for losses and loss adjustment expenses paid related to: Current year (45) (38) Prior years (45) (40) Total (90) (78) Net balance at end of period 104 93 Plus reinsurance recoverables 3 3 Balance at end of period $ 107 $ 96 * At June 30, 2024, there was a redundancy in the prior years’ net reserves due to favorable development of collateral protection and credit disability claims during the period. At June 30, 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 (11) (2) (8) (2) Adjusted balance at beginning of period 201 39 236 46 Interest accretion 6 1 6 1 Net premiums collected (14) (3) (15) (3) Ending balance at original discount rate 193 37 227 44 Effect of changes in discount rate assumptions 1 (1) 2 (1) Balance at ending of period $ 194 $ 36 $ 229 $ 43 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 (14) (3) (5) — Adjusted balance at beginning of period 409 110 461 125 Net issuances 2 1 2 — Interest accretion 11 3 10 3 Benefit payments (26) (8) (30) (8) Ending balance at original discount rate 396 106 443 120 Effect of changes in discount rate assumptions 5 (3) 7 (2) Balance at ending of period $ 401 $ 103 $ 450 $ 118 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 $ 207 $ 67 $ 221 $ 75 Deferred profit liability 13 50 15 53 Total net liability for future policy benefits $ 220 $ 117 $ 236 $ 128 The weighted-average duration of the liability for future policy benefits was 8 years at June 30, 2024 and June 30, 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 $ 220 $ 236 Accidental death and disability protection 117 128 Other* 257 252 Total $ 594 $ 616 * 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 $ 396 $ 135 $ 442 $ 155 Discounted 284 97 319 111 Expected future benefit payments: Undiscounted 565 155 637 176 Discounted 401 103 450 118 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 $ 26 $ 9 $ 30 $ 10 Interest accretion $ 5 $ 2 $ 4 $ 2 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 0.36 % 0.01 % 0.33 % 0.01 % Lapses: Expected 3.81 % 1.91 % 3.10 % 2.22 % Actual 3.44 % 3.00 % 1.72 % 2.39 % 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 % 5.27 % 4.86 % Current discount rate 5.26 % 5.29 % 5.19 % 5.17 %

Capital Stock and Earnings Per

Capital Stock and Earnings Per Share (OMH Only)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Capital Stock and Earnings Per Share (OMH Only)	11. Capital Stock and Earnings Per Share (OMH Only) CAPITAL STOCK OMH has two classes of authorized capital stock: preferred stock and common stock. OMFC has two classes of authorized capital stock: special stock and common stock. OMH and OMFC may issue preferred stock and special stock, respectively, in one or more series. The OMH Board of Directors 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 June 30, Six Months Ended June 30, 2024 2023 2024 2023 Balance at beginning of period 119,877,252 120,587,214 119,757,277 121,042,125 Common stock issued 11,572 9,045 223,274 216,448 Common stock repurchased (151,538) (169,250) (260,223) (852,634) Treasury stock issued 20,805 19,790 37,763 40,860 Balance at end of period 119,758,091 120,446,799 119,758,091 120,446,799 EARNINGS PER SHARE (OMH ONLY) The computation of earnings per share was as follows: Three Months Ended June 30, Six Months Ended June 30, (dollars in millions, except per share data) 2024 2023 2024 2023 Numerator (basic and diluted): Net income $ 71 $ 103 $ 225 $ 282 Denominator: Weighted average number of shares outstanding (basic) 119,787,550 120,539,759 119,808,362 120,652,710 Effect of dilutive securities * 397,631 107,110 406,563 155,670 Weighted average number of shares outstanding (diluted) 120,185,181 120,646,869 120,214,925 120,808,380 Earnings per share: Basic $ 0.59 $ 0.85 $ 1.88 $ 2.33 Diluted $ 0.59 $ 0.85 $ 1.87 $ 2.33 * We have excluded weighted-average unvested restricted stock units totaling 706,042 and 1,607,851 for the three months ended June 30, 2024 and 2023, respectively, and 701,837 and 1,590,009 for the six months ended June 30, 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)	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	12. Accumulated Other Comprehensive Income (Loss) Changes, net of tax, in Accumulated other comprehensive income (loss) were as follows: (dollars in millions) Unrealized Retirement Foreign Changes in discount rate for insurance claims and policyholder liabilities Other (b) Total Three Months Ended Balance at beginning of period $ (99) $ (8) $ (5) $ — $ 21 $ (91) Other comprehensive loss before reclassifications (1) — (1) (1) (1) (4) Balance at end of period $ (100) $ (8) $ (6) $ (1) $ 20 $ (95) Three Months Ended Balance at beginning of period $ (112) $ (8) $ (5) $ (5) $ 22 $ (108) Other comprehensive income (loss) before reclassifications (12) — 3 2 1 (6) Balance at end of period $ (124) $ (8) $ (2) $ (3) $ 23 $ (114) Six Months Ended Balance at beginning of period $ (93) $ (8) $ (2) $ (5) $ 21 $ (87) Other comprehensive income (loss) before reclassifications (7) — (4) 4 (1) (8) Balance at end of period $ (100) $ (8) $ (6) $ (1) $ 20 $ (95) Six Months Ended Balance at beginning of period $ (131) $ (8) $ (5) $ (8) $ 25 $ (127) Other comprehensive income (loss) before reclassifications 7 — 3 5 (2) 13 Balance at end of period $ (124) $ (8) $ (2) $ (3) $ 23 $ (114) (a) There were no material amounts related to available-for-sale debt securities for which an allowance for credit losses was recorded during the three and six months ended June 30, 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 and six months ended June 30, 2024 and 2023.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	13. Income Taxes We had a net deferred tax asset of $491 million and $477 million at June 30, 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 six months ended June 30, 2024 was 23.8%, compared to 24.5% for the same period in 2023. The effective tax rate for the six months ended June 30, 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 2022. Management believes it has adequately provided for taxes for such years. Our gross unrecognized tax benefits, including related interest and penalties, totaled $12 million at June 30, 2024 and $11 million at 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	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Contingencies	14. Contingencies LEGAL CONTINGENCIES In the normal course of business, we have been named, from time to time, as defendants in various legal actions, including arbitrations, class actions, and other litigation arising in connection with our activities. Some of the actual or threatened legal actions include claims for substantial compensatory and/or punitive damages or claims for indeterminate amounts of damages. 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	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Segment Information	15. Segment Information At June 30, 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 of the Notes to the Consolidated Financial Statements in Part II - Item 8 included in our Annual Report, except as described below. Due to the nature of the Foursight Acquisition, we applied purchase accounting. However, we report the operating results of C&I and Other using the Segment Accounting Basis, which (i) reflects our allocation methodologies for interest expense and operating costs, and (ii) excludes the impact of applying purchase accounting (eliminates premiums/discounts on our finance receivables and long-term debt at acquisition, as well as amortization/accretion in future periods). We allocate revenues and expenses on a Segment Accounting Basis to the C&I segment and Other using the following methodologies: Interest income Directly correlated to C&I segment and Other. Interest expense C&I and Other - The Company has secured and unsecured debt. The Company first allocates interest expense to its C&I segment based on actual expense for secured debt. Interest expense for unsecured debt is recorded to the C&I segment using a weighted average interest rate applied to allocated average unsecured debt. Total average unsecured debt is allocated as follows: l Other - at 100% of asset base. (Asset base represents the average net finance receivables including finance receivables held for sale); and l C&I - receives remainder of unallocated average debt. Provision for finance receivable losses Directly correlated to the C&I segment. Other revenues Directly correlated to the C&I segment and Other. Other expenses Salaries and benefits - Directly correlated to C&I segment and Other. Other salaries and benefits not directly correlated with the C&I segment and Other are allocated based on services provided. Other operating expenses - Directly correlated to the C&I segment and Other. Other operating expenses not directly correlated to the C&I segment and Other are allocated based on services provided. Insurance policy benefits and claims - Directly correlated to the C&I segment. Acquisition-related transaction and integration expenses - Directly correlated to the C&I segment and consist primarily of: (i) acquisition-related transaction and integration costs related to the Foursight Acquisition, including legal and other professional fees and (ii) software termination costs. The "Segment to GAAP Adjustment” column in the following tables primarily consists of: • Interest income - reverses the impact of premiums/discounts on certain purchased finance receivables and the interest income recognition under guidance in ASC 310-20, Nonrefundable Fees and Other Costs , and reestablishes interest income recognition on a historical cost basis; • Interest expense - reverses the impact of premiums/discounts on long-term debt assumed upon acquisition and reestablishes interest expense recognition on a historical cost basis; • Provision for finance receivable losses - reverses the impact of providing an allowance for finance receivable losses upon acquisition and reestablishes the allowance on a historical cost basis; • Other expenses - reestablishes expenses on a historical cost basis by reversing the impact of amortization from acquired intangible assets, including amortization of other historical deferred costs and the amortization of purchased software assets on a historical cost basis; and • Assets - revalues assets based on their fair values at the effective date of the acquisition. Assets were adjusted to present the impacts of deferred taxes associated with the acquisition on a net basis at June 30, 2024. 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 June 30, 2024 Interest income $ 1,210 $ 1 $ 8 $ 1,219 Interest expense 295 1 1 297 Provision for finance receivable losses 515 — 60 575 Net interest income after provision for finance receivable losses 400 — (53) 347 Other revenues 172 2 — 174 Other expenses 427 2 — 429 Income (loss) before income tax expense (benefit) $ 145 $ — $ (53) $ 92 Three Months Ended June 30, 2023 Interest income $ 1,115 $ 1 $ 1 $ 1,117 Interest expense 242 1 1 244 Provision for finance receivable losses 479 — — 479 Net interest income after provision for finance receivable losses 394 — — 394 Other revenues 182 3 — 185 Other expenses 438 3 — 441 Income before income tax expense $ 138 $ — $ — $ 138 Six Months Ended June 30, 2024 Interest income $ 2,382 $ 2 $ 8 $ 2,392 Interest expense 572 1 1 574 Provision for finance receivable losses 946 — 60 1,006 Net interest income after provision for finance receivable losses 864 1 (53) 812 Other revenues 351 3 — 354 Other expenses 867 3 — 870 Income (loss) before income tax expense (benefit) $ 348 $ 1 $ (53) $ 296 Assets $ 23,949 $ 16 $ 1,120 $ 25,085 Six Months Ended June 30, 2023 Interest income $ 2,208 $ 2 $ — $ 2,210 Interest expense 480 1 1 482 Provision for finance receivable losses 865 — — 865 Net interest income after provision for finance receivable losses 863 1 (1) 863 Other revenues 358 5 — 363 Other expenses 847 7 (1) 853 Income (loss) before income tax expense (benefit) $ 374 $ (1) $ — $ 373 Assets $ 22,267 $ 29 $ 1,215 $ 23,511

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	16. Fair Value Measurements The accounting policies of our fair value measurements are the same as those disclosed in Note 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 June 30, 2024 Assets Cash and cash equivalents $ 619 $ 48 $ — $ 667 $ 667 Investment securities 53 1,624 4 1,681 1,681 Net finance receivables, less allowance for finance receivable losses — — 21,867 21,867 19,801 Restricted cash and restricted cash equivalents 629 1 — 630 630 Other assets * — — 37 37 26 Liabilities Long-term debt $ — $ 20,456 $ — $ 20,456 $ 20,671 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 June 30, 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 June 30, 2024 Assets Cash equivalents in mutual funds $ 164 $ — $ — $ 164 Cash equivalents in securities — 48 — 48 Investment securities: Available-for-sale securities U.S. government and government sponsored entities — 12 — 12 Obligations of states, municipalities, and political subdivisions — 65 — 65 Commercial paper — 40 — 40 Non-U.S. government and government sponsored entities — 161 — 161 Corporate debt 6 1,052 1 1,059 RMBS — 175 — 175 CMBS — 26 — 26 CDO/ABS — 73 — 73 Total available-for-sale securities 6 1,604 1 1,611 Other securities Bonds: Corporate debt — 4 1 5 CDO/ABS — 16 — 16 Total bonds — 20 1 21 Preferred stock 14 — — 14 Common stock 33 — 2 35 Total other securities 47 20 3 70 Total investment securities 53 1,624 4 1,681 Restricted cash equivalents in mutual funds 623 — — 623 Restricted cash equivalents in securities — 1 — 1 Total $ 840 $ 1,673 $ 4 $ 2,517 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 and six months ended June 30, 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 and six months ended June 30, 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.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net income	$ 71	$ 103	$ 225	$ 282

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
	Jun. 30, 2024 shares	Jun. 30, 2024 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		During the quarter ended June 30, 2024, the Company’s directors and Section 16 reporting officers adopted the following stock trading plans, each of which was designed to comply with Rule 10b5-1(c) under the Exchange Act: On May 8, 2024, Douglas H. Shulman, Chairman, President and Chief Executive Officer, entered into a stock trading plan under which he may sell up to 25,000 shares of common stock over a period of time ending on May 7, 2025. On May 14, 2024, Micah R. Conrad, Executive Vice President and Chief Operating Officer, entered into a stock trading plan under which he may sell up to 12,500 shares of common stock over a period of time ending on May 14, 2025. On June 11, 2024, Michael A. Hedlund, Principal Accounting Officer, Senior Vice President, and Group Controller, entered into a stock trading plan under which he may sell up to 12,000 shares of common stock over a period of time ending on June 6, 2025. Other than as described above, during the quarter ended June 30, 2024, none of the Company’s directors or Section 16 reporting officers adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as such terms are defined in Item 408(a) of Regulation S-K.
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Douglas H. Shulman [Member]
Trading Arrangements, by Individual
Name	Douglas H. Shulman
Title	Chairman, President and Chief Executive Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	May 8, 2024
Expiration Date	May 7, 2025
Aggregate Available	25,000	25,000
Micah R. Conrad [Member]
Trading Arrangements, by Individual
Name	Micah R. Conrad
Title	Executive Vice President and Chief Operating Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	May 14, 2024
Expiration Date	May 14, 2025
Aggregate Available	12,500	12,500
Michael A. Hedlund [Member]
Trading Arrangements, by Individual
Name	Michael A. Hedlund
Title	Principal Accounting Officer, Senior Vice President, and Group Controller
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	June 11, 2024
Expiration Date	June 6, 2025
Aggregate Available	12,000	12,000
Officer Trading Arrangement [Member] | Douglas H. Shulman [Member]
Trading Arrangements, by Individual
Arrangement Duration	364 days
Officer Trading Arrangement [Member] | Micah R. Conrad [Member]
Trading Arrangements, by Individual
Arrangement Duration	365 days
Officer Trading Arrangement [Member] | Michael A. Hedlund [Member]
Trading Arrangements, by Individual
Arrangement Duration	360 days

Business and Basis of Present_2

Business and Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 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.
SEGMENTS	The accounting policies of the C&I segment are the same as those disclosed in Note 2 of the Notes to the Consolidated Financial Statements in Part II - Item 8 included in our Annual Report, except as described below. Due to the nature of the Foursight Acquisition, we applied purchase accounting. However, we report the operating results of C&I and Other using the Segment Accounting Basis, which (i) reflects our allocation methodologies for interest expense and operating costs, and (ii) excludes the impact of applying purchase accounting (eliminates premiums/discounts on our finance receivables and long-term debt at acquisition, as well as amortization/accretion in future periods). We allocate revenues and expenses on a Segment Accounting Basis to the C&I segment and Other using the following methodologies: Interest income Directly correlated to C&I segment and Other. Interest expense C&I and Other - The Company has secured and unsecured debt. The Company first allocates interest expense to its C&I segment based on actual expense for secured debt. Interest expense for unsecured debt is recorded to the C&I segment using a weighted average interest rate applied to allocated average unsecured debt. Total average unsecured debt is allocated as follows: l Other - at 100% of asset base. (Asset base represents the average net finance receivables including finance receivables held for sale); and l C&I - receives remainder of unallocated average debt. Provision for finance receivable losses Directly correlated to the C&I segment. Other revenues Directly correlated to the C&I segment and Other. Other expenses Salaries and benefits - Directly correlated to C&I segment and Other. Other salaries and benefits not directly correlated with the C&I segment and Other are allocated based on services provided. Other operating expenses - Directly correlated to the C&I segment and Other. Other operating expenses not directly correlated to the C&I segment and Other are allocated based on services provided. Insurance policy benefits and claims - Directly correlated to the C&I segment. Acquisition-related transaction and integration expenses - Directly correlated to the C&I segment and consist primarily of: (i) acquisition-related transaction and integration costs related to the Foursight Acquisition, including legal and other professional fees and (ii) software termination costs. The "Segment to GAAP Adjustment” column in the following tables primarily consists of: • Interest income - reverses the impact of premiums/discounts on certain purchased finance receivables and the interest income recognition under guidance in ASC 310-20, Nonrefundable Fees and Other Costs , and reestablishes interest income recognition on a historical cost basis; • Interest expense - reverses the impact of premiums/discounts on long-term debt assumed upon acquisition and reestablishes interest expense recognition on a historical cost basis; • Provision for finance receivable losses - reverses the impact of providing an allowance for finance receivable losses upon acquisition and reestablishes the allowance on a historical cost basis; • Other expenses - reestablishes expenses on a historical cost basis by reversing the impact of amortization from acquired intangible assets, including amortization of other historical deferred costs and the amortization of purchased software assets on a historical cost basis; and • Assets - revalues assets based on their fair values at the effective date of the acquisition. Assets were adjusted to present the impacts of deferred taxes associated with the acquisition on a net basis at June 30, 2024.

Foursight Acquisition (Tables)

Foursight Acquisition (Tables)	6 Months Ended
	Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Business Acquisitions, by Acquisition	The purchase consideration was allocated to the assets acquired and liabilities assumed based on their respective estimated fair values as of April 1, 2024, with the excess recorded to goodwill as shown below. (dollars in millions) Amount Cash consideration $ 125 Fair value of assets acquired: Cash and cash equivalents 10 Net finance receivables 867 Allowance for finance receivable losses (31) Restricted cash and restricted cash equivalents 50 Other intangibles 32 Other assets 21 Fair value of liabilities assumed: Long-term debt 848 Other liabilities 13 Goodwill $ 37

Finance Receivables (Tables)

Finance Receivables (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2024 Gross finance receivables * $ 19,792 $ 1,817 $ 21,609 $ 456 $ 22,065 Unearned fees (222) (22) (244) — (244) Accrued finance charges and fees 314 16 330 — 330 Deferred origination costs 189 15 204 10 214 Total $ 20,073 $ 1,826 $ 21,899 $ 466 $ 22,365 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 June 30, 2024 Performing Current $ 5,038 $ 7,362 $ 4,098 $ 1,724 $ 482 $ 271 $ 18,975 30-59 days past due 18 137 116 62 19 15 367 60-89 days past due 9 91 77 40 11 9 237 Total performing 5,065 7,590 4,291 1,826 512 295 19,579 Nonperforming (Nonaccrual) 90+ days past due 4 191 166 88 26 19 494 Total $ 5,069 $ 7,781 $ 4,457 $ 1,914 $ 538 $ 314 $ 20,073 Gross charge-offs * $ 2 $ 287 $ 424 $ 223 $ 61 $ 43 $ 1,040 * Represents gross charge-offs for the six months ended June 30, 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 * $ 2 $ 321 $ 365 $ 109 $ 60 $ 25 $ 882 * Represents gross charge-offs for the six months ended June 30, 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 June 30, 2024 Performing Current $ 518 $ 668 $ 353 $ 137 $ 30 $ 23 $ 1,729 30-59 days past due 5 21 21 12 2 3 64 60-89 days past due 2 6 6 2 1 — 17 Total performing 525 695 380 151 33 26 1,810 Nonperforming (Nonaccrual) 90+ days past due — 7 6 2 — 1 16 Total $ 525 $ 702 $ 386 $ 153 $ 33 $ 27 $ 1,826 Gross charge-offs * $ 1 $ 13 $ 15 $ 5 $ 1 $ — $ 35 * Represents gross charge-offs for the six months ended June 30, 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 * $ — $ 6 $ 3 $ — $ — $ — $ 9 * Represents gross charge-offs for the six months ended June 30, 2023. The following is a summary of credit cards by number of days delinquent: (dollars in millions) June 30, 2024 December 31, 2023 Current $ 416 $ 297 30-59 days past due 13 9 60-89 days past due 10 7 90+ days past due 27 17 Total $ 466 $ 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 June 30, 2024 2023 (dollars in millions) Personal Loans Auto Finance Personal Loans Auto Finance Interest rate reduction and term extension $ 102 $ 5 $ 141 $ 2 Interest rate reduction and principal forgiveness 110 — 97 — Total modifications to borrowers experiencing financial difficulties $ 212 $ 5 $ 238 $ 2 Modifications as a percent of net finance receivables by class 1.05 % 0.29 % 1.20 % 0.36 % Six Months Ended June 30, 2024 2023 (dollars in millions) Personal Loans Auto Finance Personal Loans Auto Finance Interest rate reduction and term extension $ 233 $ 9 $ 256 $ 3 Interest rate reduction and principal forgiveness 215 — 187 — Total modifications to borrowers experiencing financial difficulties $ 448 $ 9 $ 443 $ 3 Modifications as a percent of net finance receivables by class 2.23 % 0.51 % 2.23 % 0.59 % The financial effect of modifications made during the period were as follows: Three Months Ended June 30, 2024 2023 (dollars in millions) Personal Loans Auto Finance Personal Loans Auto Finance Net finance receivables Weighted-average interest rate reduction 19.48 % 13.83 % 20.15 % 12.51 % Weighted-average term extension (months) 19 15 26 24 Principal/interest forgiveness $ 10 $ — $ 9 $ — Six Months Ended June 30, 2024 2023 (dollars in millions) Personal Loans Auto Finance Personal Loans Auto Finance Net finance receivables Weighted-average interest rate reduction 18.41 % 12.20 % 20.75 % 12.53 % Weighted-average term extension (months) 23 23 22 22 Principal/interest forgiveness $ 21 $ — $ 22 $ — The performance of finance receivables modified within the previous 12 months by delinquency status was as follows: June 30, 2024 (a) June 30, 2023 (b) (dollars in millions) Personal Loans Auto Finance Personal Loans Auto Finance Current $ 576 $ 8 $ 332 $ 3 30-59 days past due 61 2 43 — 60-89 days past due 46 1 28 — 90+ days past due 93 1 40 — Total $ 776 $ 12 $ 443 $ 3 (a) Excludes $49 million of personal loan receivables that were modified and subsequently charged off within the previous 12 months. There were no auto finance receivables that were modified and subsequently charged off within the previous 12 months. (b) Excludes $10 million of personal loan receivables that were modified and subsequently charged off. There were no auto finance receivables that were modified and subsequently charged off. 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 June 30, 2024 2023 (dollars in millions) Personal Loans Auto Finance Personal Loans Auto Finance Interest rate reduction and term extension $ 39 $ — $ 11 $ — Interest rate reduction and principal forgiveness 14 — 2 — Total $ 53 $ — $ 13 $ — Six Months Ended June 30, 2024 2023 (dollars in millions) Personal Loans Auto Finance Personal Loans Auto Finance Interest rate reduction and term extension $ 83 $ 1 $ 11 $ — Interest rate reduction and principal forgiveness 31 — 2 — Total $ 114 $ 1 $ 13 $ —

Allowance for Finance Receiva_2

Allowance for Finance Receivable Losses (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2024 Balance at beginning of period $ 2,376 $ 78 $ 2,454 Provision for finance receivable losses 533 42 575 Charge-offs (553) (18) (571) Recoveries 75 — 75 Other (a) 31 — 31 Balance at end of period $ 2,462 $ 102 $ 2,564 Three Months Ended June 30, 2023 Balance at beginning of period $ 2,275 $ 23 $ 2,298 Provision for finance receivable losses 464 15 479 Charge-offs (446) (6) (452) Recoveries 67 — 67 Balance at end of period $ 2,360 $ 32 $ 2,392 Six Months Ended June 30, 2024 Balance at beginning of period $ 2,415 $ 65 $ 2,480 Provision for finance receivable losses 939 67 1,006 Charge-offs (1,075) (31) (1,106) Recoveries 152 1 153 Other (a) 31 — 31 Balance at end of period $ 2,462 $ 102 $ 2,564 Six Months Ended June 30, 2023 Balance at beginning of period $ 2,290 $ 21 $ 2,311 Impact of adoption of ASU 2022-02 (b) (16) — (16) Provision for finance receivable losses 841 24 865 Charge-offs (891) (13) (904) Recoveries 136 — 136 Balance at end of period $ 2,360 $ 32 $ 2,392 (a) Represents allowance for finance receivable losses recognized on PCD loans acquired in the Foursight Acquisition. See Note 2 for additional information. (b) 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)	6 Months Ended
	Jun. 30, 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 June 30, 2024* Fixed maturity available-for-sale securities: U.S. government and government sponsored entities $ 12 $ — $ — $ 12 Obligations of states, municipalities, and political subdivisions 71 — (6) 65 Commercial paper 40 — — 40 Non-U.S. government and government sponsored entities 167 1 (7) 161 Corporate debt 1,141 3 (85) 1,059 Mortgage-backed, asset-backed, and collateralized: RMBS 200 — (25) 175 CMBS 29 — (3) 26 CDO/ABS 77 — (4) 73 Total $ 1,737 $ 4 $ (130) $ 1,611 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 June 30, 2024 and December 31, 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 June 30, 2024 U.S. government and government sponsored entities $ — $ — $ 12 $ — $ 12 $ — Obligations of states, municipalities, and political subdivisions — — 62 (6) 62 (6) Commercial paper 40 — — — 40 — Non-U.S. government and government sponsored entities 8 — 102 (7) 110 (7) Corporate debt 68 (1) 866 (84) 934 (85) Mortgage-backed, asset-backed, and collateralized: RMBS 19 — 147 (25) 166 (25) CMBS — — 26 (3) 26 (3) CDO/ABS — — 50 (4) 50 (4) Total $ 135 $ (1) $ 1,265 $ (129) $ 1,400 $ (130) 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 June 30, 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 $ 210 $ 211 Due after 1 year through 5 years 558 582 Due after 5 years through 10 years 449 501 Due after 10 years 120 137 Mortgage-backed, asset-backed, and collateralized securities 274 306 Total $ 1,611 $ 1,737
Schedule of Fair Value of Other Securities by Type	The fair value of other securities by type was as follows: (dollars in millions) June 30, 2024 December 31, 2023 Fixed maturity other securities: Bonds $ 21 $ 22 Preferred stock 14 16 Common stock 35 34 Total $ 70 $ 72

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill Carrying Amount	Changes in the carrying amount of goodwill were as follows: (dollars in millions) Consumer and Insurance Six Months Ended June 30, 2024 Balance at beginning of period $ 1,437 Goodwill recognized upon acquisition 37 Balance at end of period $ 1,474
Schedule of Gross Carrying Amount and Accumulated Amortization of Finite-lived Intangible Assets	The gross carrying amount and accumulated amortization, in total and by major intangible asset class were as follows: (dollars in millions) Gross Carrying Amount * Accumulated Amortization Net Other Intangible Assets June 30, 2024 Trade names $ 224 $ — $ 224 Licenses 25 — 25 Customer relationships 22 (1) 21 VOBA 105 (93) 12 Other 7 — 7 Total $ 383 $ (94) $ 289 December 31, 2023 Trade names $ 220 $ — $ 220 Licenses 25 — 25 VOBA 105 (91) 14 Other 1 — 1 Total $ 351 $ (91) $ 260 * In connection with the Foursight Acquisition, we recorded $32 million of intangible assets.
Schedule of Gross Carrying Amount of Indefinite-lived Intangible Assets	The gross carrying amount and accumulated amortization, in total and by major intangible asset class were as follows: (dollars in millions) Gross Carrying Amount * Accumulated Amortization Net Other Intangible Assets June 30, 2024 Trade names $ 224 $ — $ 224 Licenses 25 — 25 Customer relationships 22 (1) 21 VOBA 105 (93) 12 Other 7 — 7 Total $ 383 $ (94) $ 289 December 31, 2023 Trade names $ 220 $ — $ 220 Licenses 25 — 25 VOBA 105 (91) 14 Other 1 — 1 Total $ 351 $ (91) $ 260 * In connection with the Foursight Acquisition, we recorded $32 million of intangible assets.

Long-term Debt (Tables)

Long-term Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Principal Maturities of Long-term Debt	Principal maturities of long-term debt by type of debt at June 30, 2024 were as follows: Senior Debt (dollars in millions) Securitizations Private Secured Term Funding Revolving Unsecured Junior Total Interest rates (b) 0.87%-10.98% 6.28% 6.82 % 3.50%-9.00% 7.34 % Remainder of 2024 $ — $ — $ — $ — $ — $ — 2025 — — — — — — 2026 — — — 1,600 — 1,600 2027 — — — 750 — 750 2028 — — — 1,350 — 1,350 2029-2067 — — — 3,932 350 4,282 Secured (c) 12,638 350 1 — — 12,989 Total principal maturities $ 12,638 $ 350 $ 1 $ 7,632 $ 350 $ 20,971 Total carrying amount $ 12,584 $ 350 $ 1 $ 7,564 $ 172 $ 20,671 Debt issuance costs (d) (43) — — (64) — (107) (a) Pursuant to the Base Indenture, the Supplemental Indentures, and the Guaranty Agreements, OMH agreed to fully and unconditionally guarantee, on a senior unsecured basis, payments of principal, premium and interest on the Unsecured Notes and Junior Subordinated Debenture. The OMH guarantees of OMFC’s long-term debt are subject to customary release provisions. (b) The interest rates shown are the range of contractual rates in effect at June 30, 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 9 for further information on our long-term debt associated with securitizations, private secured term funding, and revolving conduit facilities. (d) Debt issuance costs are reported as a direct deduction from long-term debt, with the exception of debt issuance costs associated with our revolving conduit facilities, credit card revolving variable funding note (“VFN”) facilities, and unsecured corporate revolver, which totaled $37 million at June 30, 2024 and are reported in Other assets in our condensed consolidated balance sheets.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of 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) June 30, 2024 December 31, 2023 Assets Cash and cash equivalents $ 4 $ 2 Net finance receivables 14,325 12,780 Allowance for finance receivable losses 1,624 1,428 Restricted cash and restricted cash equivalents 613 523 Other assets 47 32 Liabilities Long-term debt $ 12,935 $ 11,579 Other liabilities 31 27

Insurance (Tables)

Insurance (Tables)	6 Months Ended
	Jun. 30, 2024
Insurance [Abstract]
Schedule of 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 98 83 Prior years * (9) (2) Total 89 81 Reductions for losses and loss adjustment expenses paid related to: Current year (45) (38) Prior years (45) (40) Total (90) (78) Net balance at end of period 104 93 Plus reinsurance recoverables 3 3 Balance at end of period $ 107 $ 96 * At June 30, 2024, there was a redundancy in the prior years’ net reserves due to favorable development of collateral protection and credit disability claims during the period. At June 30, 2023, there was a redundancy in the prior years’ net reserves due to favorable development of credit disability claims during the period.
Schedule of 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 (11) (2) (8) (2) Adjusted balance at beginning of period 201 39 236 46 Interest accretion 6 1 6 1 Net premiums collected (14) (3) (15) (3) Ending balance at original discount rate 193 37 227 44 Effect of changes in discount rate assumptions 1 (1) 2 (1) Balance at ending of period $ 194 $ 36 $ 229 $ 43 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 (14) (3) (5) — Adjusted balance at beginning of period 409 110 461 125 Net issuances 2 1 2 — Interest accretion 11 3 10 3 Benefit payments (26) (8) (30) (8) Ending balance at original discount rate 396 106 443 120 Effect of changes in discount rate assumptions 5 (3) 7 (2) Balance at ending of period $ 401 $ 103 $ 450 $ 118 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 $ 207 $ 67 $ 221 $ 75 Deferred profit liability 13 50 15 53 Total net liability for future policy benefits $ 220 $ 117 $ 236 $ 128 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 $ 220 $ 236 Accidental death and disability protection 117 128 Other* 257 252 Total $ 594 $ 616 * 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 $ 396 $ 135 $ 442 $ 155 Discounted 284 97 319 111 Expected future benefit payments: Undiscounted 565 155 637 176 Discounted 401 103 450 118 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 $ 26 $ 9 $ 30 $ 10 Interest accretion $ 5 $ 2 $ 4 $ 2 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 % 5.27 % 4.86 % Current discount rate 5.26 % 5.29 % 5.19 % 5.17 %
Schedule of 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 0.36 % 0.01 % 0.33 % 0.01 % Lapses: Expected 3.81 % 1.91 % 3.10 % 2.22 % Actual 3.44 % 3.00 % 1.72 % 2.39 %

Capital Stock and Earnings Pe_2

Capital Stock and Earnings Per Share (OMH Only) (Tables)	6 Months Ended
	Jun. 30, 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 June 30, Six Months Ended June 30, 2024 2023 2024 2023 Balance at beginning of period 119,877,252 120,587,214 119,757,277 121,042,125 Common stock issued 11,572 9,045 223,274 216,448 Common stock repurchased (151,538) (169,250) (260,223) (852,634) Treasury stock issued 20,805 19,790 37,763 40,860 Balance at end of period 119,758,091 120,446,799 119,758,091 120,446,799
Schedule of Computation of Earnings Per Share	The computation of earnings per share was as follows: Three Months Ended June 30, Six Months Ended June 30, (dollars in millions, except per share data) 2024 2023 2024 2023 Numerator (basic and diluted): Net income $ 71 $ 103 $ 225 $ 282 Denominator: Weighted average number of shares outstanding (basic) 119,787,550 120,539,759 119,808,362 120,652,710 Effect of dilutive securities * 397,631 107,110 406,563 155,670 Weighted average number of shares outstanding (diluted) 120,185,181 120,646,869 120,214,925 120,808,380 Earnings per share: Basic $ 0.59 $ 0.85 $ 1.88 $ 2.33 Diluted $ 0.59 $ 0.85 $ 1.87 $ 2.33 *

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Schedule of 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 $ (99) $ (8) $ (5) $ — $ 21 $ (91) Other comprehensive loss before reclassifications (1) — (1) (1) (1) (4) Balance at end of period $ (100) $ (8) $ (6) $ (1) $ 20 $ (95) Three Months Ended Balance at beginning of period $ (112) $ (8) $ (5) $ (5) $ 22 $ (108) Other comprehensive income (loss) before reclassifications (12) — 3 2 1 (6) Balance at end of period $ (124) $ (8) $ (2) $ (3) $ 23 $ (114) Six Months Ended Balance at beginning of period $ (93) $ (8) $ (2) $ (5) $ 21 $ (87) Other comprehensive income (loss) before reclassifications (7) — (4) 4 (1) (8) Balance at end of period $ (100) $ (8) $ (6) $ (1) $ 20 $ (95) Six Months Ended Balance at beginning of period $ (131) $ (8) $ (5) $ (8) $ 25 $ (127) Other comprehensive income (loss) before reclassifications 7 — 3 5 (2) 13 Balance at end of period $ (124) $ (8) $ (2) $ (3) $ 23 $ (114) (a) There were no material amounts related to available-for-sale debt securities for which an allowance for credit losses was recorded during the three and six months ended June 30, 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 and six months ended June 30, 2024 and 2023.

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Schedule of 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 June 30, 2024 Interest income $ 1,210 $ 1 $ 8 $ 1,219 Interest expense 295 1 1 297 Provision for finance receivable losses 515 — 60 575 Net interest income after provision for finance receivable losses 400 — (53) 347 Other revenues 172 2 — 174 Other expenses 427 2 — 429 Income (loss) before income tax expense (benefit) $ 145 $ — $ (53) $ 92 Three Months Ended June 30, 2023 Interest income $ 1,115 $ 1 $ 1 $ 1,117 Interest expense 242 1 1 244 Provision for finance receivable losses 479 — — 479 Net interest income after provision for finance receivable losses 394 — — 394 Other revenues 182 3 — 185 Other expenses 438 3 — 441 Income before income tax expense $ 138 $ — $ — $ 138 Six Months Ended June 30, 2024 Interest income $ 2,382 $ 2 $ 8 $ 2,392 Interest expense 572 1 1 574 Provision for finance receivable losses 946 — 60 1,006 Net interest income after provision for finance receivable losses 864 1 (53) 812 Other revenues 351 3 — 354 Other expenses 867 3 — 870 Income (loss) before income tax expense (benefit) $ 348 $ 1 $ (53) $ 296 Assets $ 23,949 $ 16 $ 1,120 $ 25,085 Six Months Ended June 30, 2023 Interest income $ 2,208 $ 2 $ — $ 2,210 Interest expense 480 1 1 482 Provision for finance receivable losses 865 — — 865 Net interest income after provision for finance receivable losses 863 1 (1) 863 Other revenues 358 5 — 363 Other expenses 847 7 (1) 853 Income (loss) before income tax expense (benefit) $ 374 $ (1) $ — $ 373 Assets $ 22,267 $ 29 $ 1,215 $ 23,511

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2024 Assets Cash and cash equivalents $ 619 $ 48 $ — $ 667 $ 667 Investment securities 53 1,624 4 1,681 1,681 Net finance receivables, less allowance for finance receivable losses — — 21,867 21,867 19,801 Restricted cash and restricted cash equivalents 629 1 — 630 630 Other assets * — — 37 37 26 Liabilities Long-term debt $ — $ 20,456 $ — $ 20,456 $ 20,671 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 June 30, 2024 Assets Cash equivalents in mutual funds $ 164 $ — $ — $ 164 Cash equivalents in securities — 48 — 48 Investment securities: Available-for-sale securities U.S. government and government sponsored entities — 12 — 12 Obligations of states, municipalities, and political subdivisions — 65 — 65 Commercial paper — 40 — 40 Non-U.S. government and government sponsored entities — 161 — 161 Corporate debt 6 1,052 1 1,059 RMBS — 175 — 175 CMBS — 26 — 26 CDO/ABS — 73 — 73 Total available-for-sale securities 6 1,604 1 1,611 Other securities Bonds: Corporate debt — 4 1 5 CDO/ABS — 16 — 16 Total bonds — 20 1 21 Preferred stock 14 — — 14 Common stock 33 — 2 35 Total other securities 47 20 3 70 Total investment securities 53 1,624 4 1,681 Restricted cash equivalents in mutual funds 623 — — 623 Restricted cash equivalents in securities — 1 — 1 Total $ 840 $ 1,673 $ 4 $ 2,517 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

Foursight Acquisition - Narrati

Foursight Acquisition - Narrative (Details) - USD ($) $ in Millions	Apr. 01, 2024	Jun. 30, 2024	Dec. 31, 2023
Business Acquisition [Line Items]
Goodwill		$ 1,474	$ 1,437
Foursight Capital LLC
Business Acquisition [Line Items]
Cash consideration	$ 125
Goodwill	37
Goodwill, expected tax deductible amount	52
Net finance receivables	867
Unpaid principal balance of loans	908
Loans acquired on PCD loans	226
Allowance for PCD loans	31
Uncollectible and finance receivable losses	61
Foursight Capital LLC | Auto Finance
Business Acquisition [Line Items]
Net finance receivables	$ 829

Foursight Acquisition - Schedul

Foursight Acquisition - Schedule of Foursight Acquisition (Details) - USD ($) $ in Millions	Jun. 30, 2024	Apr. 01, 2024	Dec. 31, 2023
Fair value of liabilities assumed:
Goodwill	$ 1,474		$ 1,437
Foursight Capital LLC
Fair value of assets acquired:
Cash consideration		$ 125
Cash and cash equivalents		10
Net finance receivables		867
Allowance for finance receivable losses		(31)
Restricted cash and restricted cash equivalents		50
Other intangibles		32
Other assets		21
Fair value of liabilities assumed:
Long-term debt		848
Other liabilities		13
Goodwill		$ 37

Finance Receivables - Additiona

Finance Receivables - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Whole loan sale flow agreement, loans sold	$ 440		$ 440
Proceeds from sale of gross finance receivables	193	$ 135	303	$ 315
Gain on sale of financing receivables	6	13	12	31
Unused credit card lines	$ 292		$ 292		$ 223
Credit Cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Threshold period past due	180 days		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		60 days
Nonperforming (Nonaccrual) | Total Consumer Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Threshold period past due	90 days		90 days
Nonperforming (Nonaccrual) | Auto Finance
Accounts, Notes, Loans and Financing Receivable [Line Items]
Reversal of net accrued finance charges and fees	$ 0	0	$ 0	0
Nonperforming (Nonaccrual) | Personal Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Reversal of net accrued finance charges and fees	$ 36	32	$ 78	68
Nonperforming (Nonaccrual) | Credit Cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Reversal of net accrued finance charges and fees		$ 0		$ 0

Finance Receivables - Net Finan

Finance Receivables - Net Finance Receivables by Type (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	$ 22,065	$ 21,043
Unearned fees	(244)	(236)
Accrued finance charges and fees	330	333
Deferred origination costs	214	209
Financing Receivable, Total	22,365	21,349
Total Consumer Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	21,609	20,721
Unearned fees	(244)	(236)
Accrued finance charges and fees	330	333
Deferred origination costs	204	201
Financing Receivable, Total	21,899	21,019
Personal Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	19,792	19,977
Unearned fees	(222)	(223)
Accrued finance charges and fees	314	326
Deferred origination costs	189	194
Financing Receivable, Total	20,073	20,274
Auto Finance
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	1,817	744
Unearned fees	(22)	(13)
Accrued finance charges and fees	16	7
Deferred origination costs	15	7
Financing Receivable, Total	1,826	745
Credit Cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	456	322
Unearned fees	0	0
Accrued finance charges and fees	0	0
Deferred origination costs	10	8
Financing Receivable, Total	$ 466	$ 330

Finance Receivables - Delinquen

Finance Receivables - Delinquent and Nonperforming Finance Receivables, by Year of Origination (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Financing Receivable By Year Originated
Financing Receivable, Total	$ 22,365		$ 22,365		$ 21,349
Gross charge-offs *
Financing Receivable, Gross Charge-Offs	571	$ 452	1,106	$ 904
Personal Loans
Financing Receivable By Year Originated
Year One	5,069		5,069		10,071
Prior Year Two	7,781		7,781		6,043
Prior Year Three	4,457		4,457		2,744
Prior Year Four	1,914		1,914		860
Prior Year Five	538		538		423
Prior Year Six	314		314		133
Financing Receivable, Total	20,073		20,073		20,274
Gross charge-offs *
Year One			2	2
Prior Year Two			287	321
Prior Year Three			424	365
Prior Year Four			223	109
Prior Year Five			61	60
Prior Year Six			43	25
Financing Receivable, Gross Charge-Offs			1,040	882
Auto Finance
Financing Receivable By Year Originated
Year One	525		525		489
Prior Year Two	702		702		217
Prior Year Three	386		386		37
Prior Year Four	153		153		2
Prior Year Five	33		33		0
Prior Year Six	27		27		0
Financing Receivable, Total	1,826		1,826		745
Gross charge-offs *
Year One			1	0
Prior Year Two			13	6
Prior Year Three			15	3
Prior Year Four			5	0
Prior Year Five			1	0
Prior Year Six			0	0
Financing Receivable, Gross Charge-Offs			35	$ 9
Performing | Personal Loans
Financing Receivable By Year Originated
Year One	5,065		5,065		9,946
Prior Year Two	7,590		7,590		5,784
Prior Year Three	4,291		4,291		2,601
Prior Year Four	1,826		1,826		820
Prior Year Five	512		512		402
Prior Year Six	295		295		125
Financing Receivable, Total	19,579		19,579		19,678
Performing | Auto Finance
Financing Receivable By Year Originated
Year One	525		525		486
Prior Year Two	695		695		212
Prior Year Three	380		380		36
Prior Year Four	151		151		2
Prior Year Five	33		33		0
Prior Year Six	26		26		0
Financing Receivable, Total	1,810		1,810		736
Performing | Current | Personal Loans
Financing Receivable By Year Originated
Year One	5,038		5,038		9,759
Prior Year Two	7,362		7,362		5,527
Prior Year Three	4,098		4,098		2,454
Prior Year Four	1,724		1,724		776
Prior Year Five	482		482		376
Prior Year Six	271		271		114
Financing Receivable, Total	18,975		18,975		19,006
Performing | Current | Auto Finance
Financing Receivable By Year Originated
Year One	518		518		480
Prior Year Two	668		668		203
Prior Year Three	353		353		34
Prior Year Four	137		137		2
Prior Year Five	30		30		0
Prior Year Six	23		23		0
Financing Receivable, Total	1,729		1,729		719
Performing | 30-59 days past due | Personal Loans
Financing Receivable By Year Originated
Year One	18		18		113
Prior Year Two	137		137		153
Prior Year Three	116		116		88
Prior Year Four	62		62		27
Prior Year Five	19		19		16
Prior Year Six	15		15		7
Financing Receivable, Total	367		367		404
Performing | 30-59 days past due | Auto Finance
Financing Receivable By Year Originated
Year One	5		5		4
Prior Year Two	21		21		6
Prior Year Three	21		21		2
Prior Year Four	12		12		0
Prior Year Five	2		2		0
Prior Year Six	3		3		0
Financing Receivable, Total	64		64		12
Performing | 60-89 days past due | Personal Loans
Financing Receivable By Year Originated
Year One	9		9		74
Prior Year Two	91		91		104
Prior Year Three	77		77		59
Prior Year Four	40		40		17
Prior Year Five	11		11		10
Prior Year Six	9		9		4
Financing Receivable, Total	237		237		268
Performing | 60-89 days past due | Auto Finance
Financing Receivable By Year Originated
Year One	2		2		2
Prior Year Two	6		6		3
Prior Year Three	6		6		0
Prior Year Four	2		2		0
Prior Year Five	1		1		0
Prior Year Six	0		0		0
Financing Receivable, Total	17		17		5
Nonperforming (Nonaccrual) | 90+ days past due | Personal Loans
Financing Receivable By Year Originated
Year One	4		4		125
Prior Year Two	191		191		259
Prior Year Three	166		166		143
Prior Year Four	88		88		40
Prior Year Five	26		26		21
Prior Year Six	19		19		8
Financing Receivable, Total	494		494		596
Nonperforming (Nonaccrual) | 90+ days past due | Auto Finance
Financing Receivable By Year Originated
Year One	0		0		3
Prior Year Two	7		7		5
Prior Year Three	6		6		1
Prior Year Four	2		2		0
Prior Year Five	0		0		0
Prior Year Six	1		1		0
Financing Receivable, Total	$ 16		$ 16		$ 9

Finance Receivables - Summary o

Finance Receivables - Summary of Credit Cards by Number of Days Delinquent (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Delinquency by finance receivables type
Net finance receivables	$ 22,365	$ 21,349
Credit Cards
Delinquency by finance receivables type
Net finance receivables	466	330
Credit Cards | Current
Delinquency by finance receivables type
Net finance receivables	416	297
Credit Cards | 30-59 days past due
Delinquency by finance receivables type
Net finance receivables	13	9
Credit Cards | 60-89 days past due
Delinquency by finance receivables type
Net finance receivables	10	7
Credit Cards | 90+ days past due
Delinquency by finance receivables type
Net finance receivables	$ 27	$ 17

Finance Receivables - Modified

Finance Receivables - Modified Financing Receivables To Borrowers Experiencing Financial Difficulty (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Personal Loans
Financing Receivable, Modified [Line Items]
Modifications to borrowers experiencing financial difficulties	$ 212	$ 238	$ 448	$ 443
Modifications as a percent of net finance receivables by class	1.05%	1.20%	2.23%	2.23%
Personal Loans | Interest rate reduction and term extension
Financing Receivable, Modified [Line Items]
Modifications to borrowers experiencing financial difficulties	$ 102	$ 141	$ 233	$ 256
Personal Loans | Interest rate reduction and principal forgiveness
Financing Receivable, Modified [Line Items]
Modifications to borrowers experiencing financial difficulties	110	97	215	187
Auto Finance
Financing Receivable, Modified [Line Items]
Modifications to borrowers experiencing financial difficulties	$ 5	$ 2	$ 9	$ 3
Modifications as a percent of net finance receivables by class	0.29%	0.36%	0.51%	0.59%
Auto Finance | Interest rate reduction and term extension
Financing Receivable, Modified [Line Items]
Modifications to borrowers experiencing financial difficulties	$ 5	$ 2	$ 9	$ 3
Auto Finance | Interest rate reduction and principal forgiveness
Financing Receivable, Modified [Line Items]
Modifications to borrowers experiencing financial difficulties	$ 0	$ 0	$ 0	$ 0

Finance Receivables - Modifie_2

Finance Receivables - Modified Financing Receivables Financial Effects (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Personal Loans
Financing Receivable, Modified [Line Items]
Weighted-average interest rate reduction	19.48%	20.15%	18.41%	20.75%
Weighted-average term extension (months)	19 months	26 years	23 months	22 years
Principal/interest forgiveness	$ 10	$ 9	$ 21	$ 22
Auto Finance
Financing Receivable, Modified [Line Items]
Weighted-average interest rate reduction	13.83%	12.51%	12.20%	12.53%
Weighted-average term extension (months)	15 months	24 years	23 months	22 years
Principal/interest forgiveness	$ 0	$ 0	$ 0	$ 0

Finance Receivables - Modifie_3

Finance Receivables - Modified Financing Receivables Days Delinquent (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Personal Loans
Financing Receivable, Modified [Line Items]
Modified financing receivables	$ 776,000,000	$ 443,000,000
Finance receivables subsequently charged off	49,000,000	10,000,000
Auto Finance
Financing Receivable, Modified [Line Items]
Modified financing receivables	12,000,000	3,000,000
Finance receivables subsequently charged off	0	0
Current | Personal Loans
Financing Receivable, Modified [Line Items]
Modified financing receivables	576,000,000	332,000,000
Current | Auto Finance
Financing Receivable, Modified [Line Items]
Modified financing receivables	8,000,000	3,000,000
30-59 days past due | Personal Loans
Financing Receivable, Modified [Line Items]
Modified financing receivables	61,000,000	43,000,000
30-59 days past due | Auto Finance
Financing Receivable, Modified [Line Items]
Modified financing receivables	2,000,000	0
60-89 days past due | Personal Loans
Financing Receivable, Modified [Line Items]
Modified financing receivables	46,000,000	28,000,000
60-89 days past due | Auto Finance
Financing Receivable, Modified [Line Items]
Modified financing receivables	1,000,000	0
90+ days past due | Personal Loans
Financing Receivable, Modified [Line Items]
Modified financing receivables	93,000,000	40,000,000
90+ days past due | Auto Finance
Financing Receivable, Modified [Line Items]
Modified financing receivables	$ 1,000,000	$ 0

Finance Receivables - Modifie_4

Finance Receivables - Modified Finance Receivables, Nonperforming (Details) - Nonperforming (Nonaccrual) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Personal Loans
Financing Receivable, Modified [Line Items]
Modified finance receivables	$ 53	$ 13	$ 114	$ 13
Personal Loans | Interest rate reduction and term extension
Financing Receivable, Modified [Line Items]
Modified finance receivables	39	11	83	11
Personal Loans | Interest rate reduction and principal forgiveness
Financing Receivable, Modified [Line Items]
Modified finance receivables	14	2	31	2
Auto Finance
Financing Receivable, Modified [Line Items]
Modified finance receivables	0	0	1	0
Auto Finance | Interest rate reduction and term extension
Financing Receivable, Modified [Line Items]
Modified finance receivables	0	0	1	0
Auto Finance | Interest rate reduction and principal forgiveness
Financing Receivable, Modified [Line Items]
Modified finance receivables	$ 0	$ 0	$ 0	$ 0

Allowance for Finance Receiva_3

Allowance for Finance Receivable Losses - Changes in Allowance by Type (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Changes in allowance for finance receivable losses
Balance at beginning of period	$ 2,454	$ 2,298	$ 2,480	$ 2,311
Provision for finance receivable losses	575	479	1,006	865
Charge-offs	(571)	(452)	(1,106)	(904)
Recoveries	75	67	153	136
Other	31		31
Balance at end of period	2,564	2,392	2,564	2,392
Net impact of adoption of ASU 2022-02
Changes in allowance for finance receivable losses
Balance at beginning of period				(16)
Total Consumer Loans
Changes in allowance for finance receivable losses
Balance at beginning of period	2,376	2,275	2,415	2,290
Provision for finance receivable losses	533	464	939	841
Charge-offs	(553)	(446)	(1,075)	(891)
Recoveries	75	67	152	136
Other	31		31
Balance at end of period	2,462	2,360	2,462	2,360
Total Consumer Loans | Net impact of adoption of ASU 2022-02
Changes in allowance for finance receivable losses
Balance at beginning of period				(16)
Credit Cards
Changes in allowance for finance receivable losses
Balance at beginning of period	78	23	65	21
Provision for finance receivable losses	42	15	67	24
Charge-offs	(18)	(6)	(31)	(13)
Recoveries	0	0	1	0
Other	0		0
Balance at end of period	$ 102	$ 32	$ 102	32
Credit Cards | Net impact of adoption of ASU 2022-02
Changes in allowance for finance receivable losses
Balance at beginning of period				$ 0

Investment Securities - Cost_Am

Investment Securities - Cost/Amortized, Unrealized Gains/Losses & FV on AFS Investment Securities (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	$ 1,737	$ 1,765
Unrealized Gains	4	5
Unrealized Losses	(130)	(123)
Fair Value	1,611	1,647
U.S. government and government sponsored entities
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	12	18
Unrealized Gains	0	0
Unrealized Losses	0	(1)
Fair Value	12	17
Obligations of states, municipalities, and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	71	72
Unrealized Gains	0	0
Unrealized Losses	(6)	(6)
Fair Value	65	66
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	40	14
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	40	14
Non-U.S. government and government sponsored entities
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	167	172
Unrealized Gains	1	1
Unrealized Losses	(7)	(6)
Fair Value	161	167
Corporate debt
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	1,141	1,160
Unrealized Gains	3	4
Unrealized Losses	(85)	(79)
Fair Value	1,059	1,085
RMBS
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	200	202
Unrealized Gains	0	0
Unrealized Losses	(25)	(22)
Fair Value	175	180
CMBS
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	29	36
Unrealized Gains	0	0
Unrealized Losses	(3)	(3)
Fair Value	26	33
CDO/ABS
Debt Securities, Available-for-sale [Line Items]
Cost/ Amortized Cost	77	91
Unrealized Gains	0	0
Unrealized Losses	(4)	(6)
Fair Value	$ 73	$ 85

Investment Securities - Additio

Investment Securities - Additional Information (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($) investment	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) investment	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) investment
Investments, Debt and Equity Securities [Abstract]
Interest receivable	$ 14		$ 14		$ 14
Investment securities in an unrealized loss position | investment	1,988		1,988		1,984
Proceeds from sales and redemptions	$ 24	$ 21	$ 44	$ 47
Securities on deposit with third parties	$ 497		$ 497		$ 524

Investment Securities - Fair Va

Investment Securities - Fair Value and Unrealized Losses on AFS Investment Securities (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Fair Value
Less Than 12 Months	$ 135	$ 62
12 Months or Longer	1,265	1,341
Total	1,400	1,403
Unrealized Losses *
Less Than 12 Months	(1)	0
12 Months or Longer	(129)	(123)
Total	(130)	(123)
U.S. government and government sponsored entities
Fair Value
Less Than 12 Months	0	1
12 Months or Longer	12	11
Total	12	12
Unrealized Losses *
Less Than 12 Months	0	0
12 Months or Longer	0	(1)
Total	0	(1)
Obligations of states, municipalities, and political subdivisions
Fair Value
Less Than 12 Months	0	2
12 Months or Longer	62	62
Total	62	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	40	14
12 Months or Longer	0	0
Total	40	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	8	22
12 Months or Longer	102	97
Total	110	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	68	15
12 Months or Longer	866	925
Total	934	940
Unrealized Losses *
Less Than 12 Months	(1)	0
12 Months or Longer	(84)	(79)
Total	(85)	(79)
RMBS
Fair Value
Less Than 12 Months	19	5
12 Months or Longer	147	152
Total	166	157
Unrealized Losses *
Less Than 12 Months	0	0
12 Months or Longer	(25)	(22)
Total	(25)	(22)
CMBS
Fair Value
Less Than 12 Months	0	2
12 Months or Longer	26	32
Total	26	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	0	1
12 Months or Longer	50	62
Total	50	63
Unrealized Losses *
Less Than 12 Months	0	0
12 Months or Longer	(4)	(6)
Total	$ (4)	$ (6)

Investment Securities - Contrac

Investment Securities - Contractual Maturities of AFS Investment Securities (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Fixed maturities, excluding mortgage-backed, asset-backed, and collateralized securities:
Due in 1 year or less	$ 210
Due after 1 year through 5 years	558
Due after 5 years through 10 years	449
Due after 10 years	120
Mortgage-backed, asset-backed, and collateralized securities	274
Fair Value	1,611	$ 1,647
Fixed maturities, excluding mortgage-backed, asset-backed, and collateralized securities:
Due in 1 year or less	211
Due after 1 year through 5 years	582
Due after 5 years through 10 years	501
Due after 10 years	137
Mortgage-backed, asset-backed, and collateralized securities	306
Cost/ Amortized Cost	$ 1,737	$ 1,765

Investment Securities - Fair _2

Investment Securities - Fair Value of Other Securities (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Debt and Equity Securities, FV-NI [Line Items]
Bonds	$ 21	$ 22
Total	70	72
Preferred stock
Debt and Equity Securities, FV-NI [Line Items]
Equity securities	14	16
Common stock
Debt and Equity Securities, FV-NI [Line Items]
Equity securities	$ 35	$ 34

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Additional Information (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Apr. 01, 2024	Dec. 31, 2023
Goodwill [Line Items]
Goodwill	$ 1,474,000,000		$ 1,437,000,000
Impairments to goodwill	$ 0
Foursight Capital LLC
Goodwill [Line Items]
Goodwill		$ 37,000,000

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Changes in the Carrying Amount of Goodwill (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Goodwill [Roll Forward]
Balance at beginning of period	$ 1,437
Balance at end of period	1,474
Consumer and Insurance
Goodwill [Roll Forward]
Balance at beginning of period	1,437
Goodwill recognized upon acquisition	37
Balance at end of period	$ 1,474

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Other Intangible Assets (Details) - USD ($) $ in Millions	Jun. 30, 2024	Apr. 01, 2024	Dec. 31, 2023
Schedule Of Finite-Lived And Indefinite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 383		$ 351
Net Other Intangible Assets	289		260
Acquired Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	(94)		(91)
Gross Carrying Amount	383		351
Net Other Intangible Assets	289		260
Foursight Capital LLC
Acquired Finite-Lived Intangible Assets [Line Items]
Other intangibles		$ 32
Other intangibles		$ 32
Trade names
Acquired Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets			220
Licenses
Acquired Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	25		25
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	22
Accumulated Amortization	(1)
Net Other Intangible Assets	21
VOBA
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	105		105
Accumulated Amortization	(93)		(91)
Net Other Intangible Assets	12		14
Other
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	7		1
Accumulated Amortization	0		0
Net Other Intangible Assets	7		$ 1
Trade names
Schedule Of Finite-Lived And Indefinite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	224
Net Other Intangible Assets	224
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	224
Net Other Intangible Assets	$ 224

Long-term Debt - Principal Matu

Long-term Debt - Principal Maturities of Long-Term Debt (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Principal maturities of long-term debt by type of debt
Remainder of 2024	$ 0
2025	0
2026	1,600
2027	750
2028	1,350
2029-2067	4,282
Secured	12,989
Total principal maturities	20,971
Long-term debt	20,671	$ 19,813
Debt issuance costs	(107)
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	12,638
Total principal maturities	12,638
Long-term debt	12,584
Debt issuance costs	$ (43)
Securitizations | Minimum
Long-term debt
Interest rate	0.87%
Securitizations | Maximum
Long-term debt
Interest rate	10.98%
Private Secured Term Funding
Long-term debt
Interest rate	6.28%
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
Revolving Conduit Facilities
Long-term debt
Interest rate	6.82%
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 And Unsecured Corporate Revolver
Principal maturities of long-term debt by type of debt
Debt issuance costs	37
Unsecured Notes | Unsecured Notes
Principal maturities of long-term debt by type of debt
Remainder of 2024	0
2025	0
2026	1,600
2027	750
2028	1,350
2029-2067	3,932
Secured	0
Total principal maturities	7,632
Long-term debt	7,564
Debt issuance costs	$ (64)
Unsecured Notes | Unsecured Notes | Minimum
Long-term debt
Interest rate	3.50%
Unsecured Notes | Unsecured Notes | Maximum
Long-term debt
Interest rate	9%
Junior Subordinated Debt
Long-term debt
Interest rate	7.34%
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
Secured	0
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 ($) $ in Millions	Oct. 25, 2021	Jun. 30, 2024
Debt Instrument [Line Items]
Total borrowing capacity		$ 1,300
Debt instrument, term	5 years

Variable Interest Entities - Ca

Variable Interest Entities - Carrying Amount of Consolidated VIEs (Details) - USD ($) $ in Millions	Jun. 30, 2024		Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023		Mar. 31, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Cash and cash equivalents	$ 667			$ 1,014	$ 1,021
Net finance receivables	22,365			21,349
Allowance for finance receivable losses	2,564		$ 2,454	2,480	2,392		$ 2,298	$ 2,311
Restricted cash and restricted cash equivalents	630	[1]		534	$ 532	[1]
Other assets	1,296			1,232
Long-term debt	20,671			19,813
Consolidated VIEs
Variable Interest Entity [Line Items]
Cash and cash equivalents	4			2
Net finance receivables	14,325			12,780
Allowance for finance receivable losses	1,624			1,428
Restricted cash and restricted cash equivalents	613			523
Other assets	47			32
Long-term debt	12,935			11,579
Other liabilities	$ 31			$ 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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Variable Interest Entity [Line Items]
Interest expense	$ 297	$ 244	$ 574	$ 482
Consolidated VIEs
Variable Interest Entity [Line Items]
Interest expense	$ 161	$ 114	$ 299	$ 215

Variable Interest Entities - Se

Variable Interest Entities - Securitized Borrowings (Details) - Securitizations	6 Months Ended
	Jun. 30, 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	6 Months Ended
	Jun. 30, 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	6 Months Ended
	Jun. 30, 2024 USD ($)
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 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	6 Months Ended
	Jun. 30, 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	6 Months Ended
	Jun. 30, 2024	Jun. 30, 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	98	83
Prior years	(9)	(2)
Total	89	81
Reductions for losses and loss adjustment expenses paid related to:
Current year	(45)	(38)
Prior years	(45)	(40)
Total	(90)	(78)
Net balance at end of period	104	93
Plus reinsurance recoverables	3	3	$ 3	$ 3
Balance at end of period	$ 107	$ 96

Insurance - Present Value of Ex

Insurance - Present Value of Expected Net Premium And Future Policy Benefits (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 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	1	2	$ 5	$ 8
Beginning balance at original discount rate	212	244
Effect of actual variances from expected experience			(11)	(8)
Adjusted balance at beginning of period			201	236
Interest accretion	6	6
Net premiums collected	(14)	(15)
Ending balance at original discount rate	193	227
Balance at ending of period	194	229
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	(5)	(7)	(12)	(17)
Beginning balance at original discount rate	423	466
Effect of actual variances from expected experience			(14)	(5)
Adjusted balance at beginning of period			409	461
Net issuances	2	2
Interest accretion	11	10
Benefit payments	(26)	(30)
Ending balance at original discount rate	396	443
Balance at ending of period	401	450
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)	(1)	0	0
Beginning balance at original discount rate	41	48
Effect of actual variances from expected experience			(2)	(2)
Adjusted balance at beginning of period			39	46
Interest accretion	1	1
Net premiums collected	(3)	(3)
Ending balance at original discount rate	37	44
Balance at ending of period	36	43
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	3	2	0	(1)
Beginning balance at original discount rate	113	125
Effect of actual variances from expected experience			(3)	0
Adjusted balance at beginning of period			$ 110	$ 125
Net issuances	1	0
Interest accretion	3	3
Benefit payments	(8)	(8)
Ending balance at original discount rate	106	120
Balance at ending of period	$ 103	$ 118

Insurance - Net Liability for F

Insurance - Net Liability for Future Policy Benefits (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Term and Whole Life
Liability for Future Policy Benefit, Activity [Line Items]
Net liability for future policy benefits	$ 207	$ 221
Deferred profit liability	13	15
Total net liability for future policy benefits	220	236
Accidental Death and Disability Protection
Liability for Future Policy Benefit, Activity [Line Items]
Net liability for future policy benefits	67	75
Deferred profit liability	50	53
Total net liability for future policy benefits	$ 117	$ 128

Insurance - Additional Informat

Insurance - Additional Information (Details)	Jun. 30, 2024	Jun. 30, 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	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Liability for Future Policy Benefit, Activity [Line Items]
Insurance claims and policyholder liabilities	$ 594	$ 615	$ 616
Term and Whole Life
Liability for Future Policy Benefit, Activity [Line Items]
Total net liability for future policy benefits	220		236
Accidental Death and Disability Protection
Liability for Future Policy Benefit, Activity [Line Items]
Total net liability for future policy benefits	117		128
Other
Liability for Future Policy Benefit, Activity [Line Items]
Other	$ 257		$ 252

Insurance - Undiscounted and Di

Insurance - Undiscounted and Discounted Expected Gross Premiums And Expected Future Benefits (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Term and Whole Life
Expected future gross premiums:
Undiscounted	$ 396	$ 442
Discounted	284	319
Expected future benefit payments:
Undiscounted	565	637
Discounted	401	450
Accidental Death and Disability Protection
Expected future gross premiums:
Undiscounted	135	155
Discounted	97	111
Expected future benefit payments:
Undiscounted	155	176
Discounted	$ 103	$ 118

Insurance - Consolidated Statem

Insurance - Consolidated Statements of Operations (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Term and Whole Life
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums or assessments	$ 26	$ 30
Interest accretion	5	4
Accidental Death and Disability Protection
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums or assessments	9	10
Interest accretion	$ 2	$ 2

Insurance - Actuarial Assumptio

Insurance - Actuarial Assumptions (Details)	Jun. 30, 2024	Jun. 30, 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	0.0036	0.0033
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	0.0381	0.0310
Measurement Input, Lapses, Expected | Accidental Death and Disability Protection
Market Risk Benefit [Line Items]
Market risk benefit, measurement input	0.0191	0.0222
Measurement Input, Lapses, Actual | Term and Whole Life
Market Risk Benefit [Line Items]
Market risk benefit, measurement input	0.0344	0.0172
Measurement Input, Lapses, Actual | Accidental Death and Disability Protection
Market Risk Benefit [Line Items]
Market risk benefit, measurement input	0.0300	0.0239

Insurance - Weighted-Average In

Insurance - Weighted-Average Interest Rates for the Liability of Future Policy Benefits (Details)	Jun. 30, 2024	Jun. 30, 2023
Term and Whole Life
Additional Liability, Long-Duration Insurance [Line Items]
Interest accretion rate	5.28%	5.27%
Current discount rate	5.26%	5.19%
Accidental Death and Disability Protection
Additional Liability, Long-Duration Insurance [Line Items]
Interest accretion rate	4.87%	4.86%
Current discount rate	5.29%	5.17%

Capital Stock and Earnings Pe_3

Capital Stock and Earnings Per Share (OMH Only) - Additional Information (Details)	6 Months Ended
	Jun. 30, 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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	119,877,252	120,587,214	119,757,277	121,042,125
Common stock issued (in shares)	11,572	9,045	223,274	216,448
Common stock repurchased (in shares)	(151,538)	(169,250)	(260,223)	(852,634)
Treasury stock issued (in shares)	20,805	19,790	37,763	40,860
Ending balance (in shares)	119,758,091	120,446,799	119,758,091	120,446,799

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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Numerator (basic and diluted):
Net income	$ 71	$ 103	$ 225	$ 282
Denominator:
Weighted average number of shares outstanding (basic) (in shares)	119,787,550	120,539,759	119,808,362	120,652,710
Effect of dilutive securities (in shares)	397,631	107,110	406,563	155,670
Weighted average number of shares outstanding (diluted) (in shares)	120,185,181	120,646,869	120,214,925	120,808,380
Earnings per share:
Basic (in dollars per share)	$ 0.59	$ 0.85	$ 1.88	$ 2.33
Diluted (in dollars per share)	$ 0.59	$ 0.85	$ 1.87	$ 2.33
Restricted stock units
Earnings per share:
Shares excluded in the diluted earnings per share calculation (in shares)	706,042	1,607,851	701,837	1,590,009

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	$ 3,214	$ 3,081	$ 3,186	$ 3,015
Other comprehensive income (loss) before reclassifications	(4)	(6)	(8)	13
Balance at end of period	3,153	3,058	3,153	3,058
Unrealized Gains (Losses) Available-for-Sale Securities
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	(99)	(112)	(93)	(131)
Other comprehensive income (loss) before reclassifications	(1)	(12)	(7)	7
Balance at end of period	(100)	(124)	(100)	(124)
Retirement Plan Liabilities Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	(8)	(8)	(8)	(8)
Other comprehensive income (loss) before reclassifications	0	0	0	0
Balance at end of period	(8)	(8)	(8)	(8)
Foreign Currency Translation Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	(5)	(5)	(2)	(5)
Other comprehensive income (loss) before reclassifications	(1)	3	(4)	3
Balance at end of period	(6)	(2)	(6)	(2)
Changes in discount rate for insurance claims and policyholder liabilities
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	0	(5)	(5)	(8)
Other comprehensive income (loss) before reclassifications	(1)	2	4	5
Balance at end of period	(1)	(3)	(1)	(3)
Other
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	21	22	21	25
Other comprehensive income (loss) before reclassifications	(1)	1	(1)	(2)
Balance at end of period	20	23	20	23
Accumulated Other Comprehensive Income (Loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of period	(91)	(108)	(87)	(127)
Balance at end of period	$ (95)	$ (114)	$ (95)	$ (114)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Net deferred tax asset	$ 491		$ 477
Effective tax rate	23.80%	24.50%
Unrecognized tax benefits	$ 12		$ 11

Segment Information - Narrative

Segment Information - Narrative (Details)	6 Months Ended
	Jun. 30, 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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Segment Reporting Information [Line Items]
Interest income	$ 1,219	$ 1,117	$ 2,392	$ 2,210
Interest expense	297	244	574	482
Provision for finance receivable losses	575	479	1,006	865
Net interest income after provision for finance receivable losses	347	394	812	863
Other revenues	174	185	354	363
Other expenses	429	441	870	853
Income before income taxes	92	138	296	373
Total assets	25,085	23,511	25,085	23,511	$ 24,294
Consumer and Insurance | Consumer and Insurance
Segment Reporting Information [Line Items]
Interest income	1,210	1,115	2,382	2,208
Interest expense	295	242	572	480
Provision for finance receivable losses	515	479	946	865
Net interest income after provision for finance receivable losses	400	394	864	863
Other revenues	172	182	351	358
Other expenses	427	438	867	847
Income before income taxes	145	138	348	374
Total assets	23,949	22,267	23,949	22,267
Other
Segment Reporting Information [Line Items]
Interest income	1	1	2	2
Interest expense	1	1	1	1
Provision for finance receivable losses	0	0	0	0
Net interest income after provision for finance receivable losses	0	0	1	1
Other revenues	2	3	3	5
Other expenses	2	3	3	7
Income before income taxes	0	0	1	(1)
Total assets	16	29	16	29
Segment to GAAP Adjustment
Segment Reporting Information [Line Items]
Interest income	8	1	8	0
Interest expense	1	1	1	1
Provision for finance receivable losses	60	0	60	0
Net interest income after provision for finance receivable losses	(53)	0	(53)	(1)
Other revenues	0	0	0	0
Other expenses	0	0	0	(1)
Income before income taxes	(53)	0	(53)	0
Total assets	$ 1,120	$ 1,215	$ 1,120	$ 1,215

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value & Carrying Value Hierarchy Basis (Details) - USD ($) $ in Millions	Jun. 30, 2024		Dec. 31, 2023	Jun. 30, 2023	[1]
Assets
Restricted cash and restricted cash equivalents	$ 630	[1]	$ 534	$ 532
Total Fair Value
Assets
Cash and cash equivalents	667		1,014
Investment securities	1,681		1,719
Net finance receivables, less allowance for finance receivable losses	21,867		20,490
Restricted cash and restricted cash equivalents	630		534
Other assets	37		40
Liabilities
Long-term debt	20,456		19,457
Total Carrying Value
Assets
Cash and cash equivalents	667		1,014
Investment securities	1,681		1,719
Net finance receivables, less allowance for finance receivable losses	19,801		18,869
Restricted cash and restricted cash equivalents	630		534
Other assets	26		29
Liabilities
Long-term debt	20,671		19,813
Level 1
Assets
Cash and cash equivalents	619		1,014
Investment securities	53		54
Net finance receivables, less allowance for finance receivable losses	0		0
Restricted cash and restricted cash equivalents	629		534
Other assets	0		0
Liabilities
Long-term debt	0		0
Level 2
Assets
Cash and cash equivalents	48		0
Investment securities	1,624		1,662
Net finance receivables, less allowance for finance receivable losses	0		0
Restricted cash and restricted cash equivalents	1		0
Other assets	0		0
Liabilities
Long-term debt	20,456		19,457
Level 3
Assets
Cash and cash equivalents	0		0
Investment securities	4		3
Net finance receivables, less allowance for finance receivable losses	21,867		20,490
Restricted cash and restricted cash equivalents	0		0
Other assets	37		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	Jun. 30, 2024		Dec. 31, 2023	Jun. 30, 2023	[1]
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	$ 1,611		$ 1,647
Other securities	70		72
Restricted cash and restricted cash equivalents	630	[1]	534	$ 532
U.S. government and government sponsored entities
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	12		17
Obligations of states, municipalities, and political subdivisions
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	65		66
Commercial paper
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	40		14
Non-U.S. government and government sponsored entities
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	161		167
Corporate debt
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	1,059		1,085
RMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	175		180
CMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	26		33
CDO/ABS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	73		85
Level 1
Investments, Debt and Equity Securities [Abstract]
Total investment securities	53		54
Restricted cash and restricted cash equivalents	629		534
Level 2
Investments, Debt and Equity Securities [Abstract]
Total investment securities	1,624		1,662
Restricted cash and restricted cash equivalents	1		0
Level 3
Investments, Debt and Equity Securities [Abstract]
Total investment securities	4		3
Restricted cash and restricted cash equivalents	0		0
Fair Value, Measurements, Recurring
Assets
Cash equivalents in mutual funds	164		97
Cash equivalents in securities	48
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	1,611		1,647
Other securities	70		72
Total investment securities	1,681		1,719
Restricted cash equivalents in mutual funds	623		525
Restricted cash and restricted cash equivalents	1
Total	2,517		2,341
Fair Value, Measurements, Recurring | Total bonds
Investments, Debt and Equity Securities [Abstract]
Other securities	21		22
Fair Value, Measurements, Recurring | U.S. government and government sponsored entities
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	12		17
Fair Value, Measurements, Recurring | Obligations of states, municipalities, and political subdivisions
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	65		66
Fair Value, Measurements, Recurring | Commercial paper
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	40		14
Fair Value, Measurements, Recurring | Non-U.S. government and government sponsored entities
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	161		167
Fair Value, Measurements, Recurring | Corporate debt
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	1,059		1,085
Other securities	5		4
Fair Value, Measurements, Recurring | RMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	175		180
Fair Value, Measurements, Recurring | CMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	26		33
Fair Value, Measurements, Recurring | CDO/ABS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	73		85
Other securities	16		18
Fair Value, Measurements, Recurring | Preferred stock
Investments, Debt and Equity Securities [Abstract]
Other securities	14		16
Fair Value, Measurements, Recurring | Common stock
Investments, Debt and Equity Securities [Abstract]
Other securities	35		34
Fair Value, Measurements, Recurring | Level 1
Assets
Cash equivalents in mutual funds	164		97
Cash equivalents in securities	0
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	6		6
Other securities	47		48
Total investment securities	53		54
Restricted cash equivalents in mutual funds	623		525
Restricted cash and restricted cash equivalents	0
Total	840		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	14		16
Fair Value, Measurements, Recurring | Level 1 | Common stock
Investments, Debt and Equity Securities [Abstract]
Other securities	33		32
Fair Value, Measurements, Recurring | Level 2
Assets
Cash equivalents in mutual funds	0		0
Cash equivalents in securities	48
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	1,604		1,640
Other securities	20		22
Total investment securities	1,624		1,662
Restricted cash equivalents in mutual funds	0		0
Total	1,673		1,662
Fair Value, Measurements, Recurring | Level 2 | Total bonds
Investments, Debt and Equity Securities [Abstract]
Other securities	20		22
Fair Value, Measurements, Recurring | Level 2 | U.S. government and government sponsored entities
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	12		17
Fair Value, Measurements, Recurring | Level 2 | Obligations of states, municipalities, and political subdivisions
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	65		66
Fair Value, Measurements, Recurring | Level 2 | Commercial paper
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	40		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	161		167
Fair Value, Measurements, Recurring | Level 2 | Corporate debt
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	1,052		1,078
Other securities	4		4
Fair Value, Measurements, Recurring | Level 2 | RMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	175		180
Fair Value, Measurements, Recurring | Level 2 | CMBS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	26		33
Fair Value, Measurements, Recurring | Level 2 | CDO/ABS
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities	73		85
Other securities	16		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	3		2
Total investment securities	4		3
Restricted cash equivalents in mutual funds	0		0
Restricted cash and restricted cash equivalents	0
Total	4		3
Fair Value, Measurements, Recurring | Level 3 | Total bonds
Investments, Debt and Equity Securities [Abstract]
Other securities	1		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	1		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.

Uncategorized Items - omf-20240

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