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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
☑    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934
For the quarterly period ended September 30, 2024

OR

☐    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the transition period from to

Commission file number
001-36129 (OneMain Holdings, Inc.)
001-06155 (OneMain Finance Corporation)

ONEMAIN HOLDINGS, INC.
ONEMAIN FINANCE CORPORATION
(Exact name of registrant as specified in its charter)
Delaware (OneMain Holdings, Inc.)
27-3379612
Indiana (OneMain Finance Corporation)
35-0416090
(State of incorporation)(I.R.S. Employer Identification No.)
601 N.W. Second Street, Evansville, IN 47708
(Address of principal executive offices) (Zip code)

(812) 424-8031
(Registrant’s telephone number, including area code)


Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:
OneMain Holdings, Inc.:
Title of each classTrading SymbolName of each exchange on which registered
Common Stock, par value $0.01 per shareOMFNew York Stock Exchange
OneMain Finance Corporation: None



Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
OneMain Holdings, Inc.                     Yes ☑ No ☐
OneMain Finance Corporation                     Yes ☑ No ☐


Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
OneMain Holdings, Inc.                     Yes ☑ No ☐
OneMain Finance Corporation                     Yes ☑ No ☐




Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
OneMain Holdings, Inc.:
Large accelerated filer☑Accelerated filer
☐
Non-accelerated filer☐Smaller reporting company☐Emerging growth company☐
OneMain Finance Corporation:
Large accelerated filer
☐
Accelerated filer
☐
Non-accelerated filer☑
Smaller reporting company
☐
Emerging growth company
☐


If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
OneMain Holdings, Inc.                  ☐
OneMain Finance Corporation                  ☐


Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
OneMain Holdings, Inc.                 Yes ☐ No ☑
OneMain Finance Corporation                 Yes ☐ No ☑


At October 22, 2024, there were 119,352,366 shares of OneMain Holdings, Inc’s common stock, $0.01 par value, outstanding.
At October 22, 2024, there were 10,160,021 shares of OneMain Finance Corporation’s common stock, $0.50 par value, outstanding.
2

TABLE OF CONTENTS
  
 
 
 
 
 
 
  
  

3

GLOSSARY

Terms and abbreviations used in this report are defined below.
Term or AbbreviationDefinition
30-89 Delinquency rationet finance receivables 30-89 days past due as a percentage of net finance receivables
ABSasset-backed securities
Adjusted pretax income (loss)a non-GAAP financial measure used by management as a key performance measure of our segment
AETRannual effective tax rate
AHLAmerican Health and Life Insurance Company, an insurance subsidiary of OneMain Financial Holdings, LLC
Annual Report
the Annual Report on Form 10-K of OMH and OMFC for the fiscal year ended December 31, 2023, filed with the SEC on February 13, 2024
ASCAccounting Standards Codification
ASUAccounting Standards Update
ASU 2022-02
the accounting standard issued by FASB in March of 2022, Financial Instruments - Credit Losses: Troubled Debt Restructurings and Vintage Disclosures
Auto finance
financing at the point of purchase through a network of auto dealerships
Average daily debt balanceaverage of debt for each day in the period
Average net receivablesaverage of net finance receivables for each day in the period
Base Indentureindenture, dated as of December 3, 2014, by and between OMFC and Wilmington Trust, National Association, as trustee, and guaranteed by OMH
Boardthe OMH Board of Directors
C&IConsumer and Insurance
CDOcollateralized debt obligations
CMBScommercial mortgage-backed securities
Consumer loans
consist of Personal loans and Auto finance
Exchange ActSecurities Exchange Act of 1934, as amended
FASBFinancial Accounting Standards Board
FCRT
Foursight Capital Automobile Receivables Trust
Foursight
Foursight Capital LLC
Foursight Acquisition
acquisition of Foursight Capital LLC from Jefferies Financial Group, Inc., effective April 1, 2024
GAAPgenerally accepted accounting principles in the United States of America
GAPguaranteed asset protection
Gross charge-off ratioannualized gross charge-offs as a percentage of average net receivables
Gross finance receivables
the unpaid principal balance of our consumer loans, net of unamortized discount or premium. 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
Indenturethe Base Indenture, together with all subsequent Supplemental Indentures
Junior Subordinated Debenture$350 million aggregate principal amount of 60-year junior subordinated debt issued by OMFC under an indenture dated January 22, 2007, by and between OMFC and Deutsche Bank Trust Company, as trustee, and guaranteed by OMH
KBRA
Kroll Bond Rating Agency, Inc.
Managed receivables
consist of our C&I net finance receivables, finance receivables serviced for our whole loan sale partners and auto finance loans originated by third parties
Modified finance receivables
finance receivable contractually modified, subsequent to the adoption of ASU 2022-02 on January 1, 2023, as a result of the borrower’s financial difficulties
Moody’sMoody’s Investors Service, Inc.
4

Term or AbbreviationDefinition
Net charge-off ratioannualized net charge-offs as a percentage of average net receivables
Net finance receivables
gross finance receivables plus deferred origination costs. Consumer loans also include accrued finance charges and fees and exclude unearned fees
Net interest incomeinterest income less interest expense
ODARTOneMain Direct Auto Receivables Trust
OMFCOneMain Finance Corporation
OMFCT
OneMain Financial Credit Card Trust
OMFITOneMain Financial Issuance Trust
OMHOneMain Holdings, Inc.
OneMainOneMain Holdings, Inc. and OneMain Finance Corporation, collectively with their subsidiaries
Open accountsconsist of credit card accounts that are not charged-off or closed accounts with a zero balance as of period end
Other securities
primarily consist of equity securities and those securities for which the fair value option was elected. Other securities recognize unrealized gains and losses in investment revenues
PCD
purchased credit deteriorated
Personal loans
loans secured by titled collateral or unsecured and offered through our branch network, central operations, or digital platform
Pretax capital generation
a non-GAAP financial measure used by management as a key performance measure of our segment, defined as C&I adjusted pretax income (loss) excluding the change in C&I allowance for finance receivable losses
Private Secured Term Funding
$350 million aggregate principal amount of debt collateralized by our consumer loans issued on April 25, 2022
Purchase volumeconsists of credit card purchase transactions in the period, including cash advances, net of returns
Recovery ratioannualized recoveries on net charge-offs as a percentage of average net receivables
RMBSresidential mortgage-backed securities
S&P
S&P Global Ratings
SECU.S. Securities and Exchange Commission
Securities ActSecurities Act of 1933, as amended
Segment Accounting Basisa basis used to report the operating results of our C&I segment and our Other components, which reflects our allocation methodologies for certain costs and excludes the impact of applying purchase accounting
SpringCastle Portfolioloans the Company previously owned and now services on behalf of a third party
Supplemental Indentures
collectively, the following supplements to the Base Indenture: Sixth Supplemental Indenture, dated as of May 11, 2018; Eighth Supplemental Indenture, dated as of May 9, 2019; Ninth Supplemental Indenture, dated as of November 7, 2019; Eleventh Supplemental Indenture, dated as of December 17, 2020; Twelfth Supplemental Indenture, dated as of June 22, 2021; Thirteenth Supplemental Indenture, dated as of August 11, 2021; Fourteenth Supplemental Indenture, dated June 20, 2023; Fifteenth Supplemental Indenture, dated June 22, 2023; Sixteenth Supplemental Indenture, dated as of December 13, 2023; Seventeenth Supplemental Indenture, dated May 22, 2024; and Eighteenth Supplemental Indenture, dated August 19, 2024
TritonTriton Insurance Company, an insurance subsidiary of OneMain Financial Holdings, LLC
Unearned finance chargesthe amount of interest that is capitalized at time of origination on a precompute loan that will be earned over the remaining contractual life of the loan
Unencumbered receivables
unpaid principal balance of our consumer loans and credit cards, including those in the trust that exceed the minimum for securing advances under credit card variable funding note facilities, which the Company can remove from the trust under the terms of such facilities. For precompute personal loans, unpaid principal balance is the gross contractual payments less the unaccreted balance of unearned finance charges. Credit card receivables exclude billed interest, fees, and closed accounts with balances.
5

Term or AbbreviationDefinition
Unsecured corporate revolver
unsecured revolver with a maximum borrowing capacity of $1.1 billion, payable and due on September 6, 2029
Unsecured Notesthe notes, on a senior unsecured basis, issued by OMFC and guaranteed by OMH
VIEsvariable interest entities
VFN
variable funding note
Weighted average interest rateannualized interest expense as a percentage of average debt
XBRLeXtensible Business Reporting Language
Yieldannualized finance charges as a percentage of average net receivables
6

PART I - FINANCIAL INFORMATION
Item 1. Financial Statements.

ONEMAIN HOLDINGS, INC. AND SUBSIDIARIES
Condensed Consolidated Balance Sheets (Unaudited)

(dollars in millions, except par value amount)September 30, 2024December 31, 2023
Assets  
Cash and cash equivalents$577 $1,014 
Investment securities (includes available-for-sale securities with a fair value and an amortized cost basis of $1.5 billion and $1.6 billion in 2024, respectively, and $1.6 billion and $1.8 billion in 2023, respectively)
1,581 1,719 
Net finance receivables (includes loans of consolidated VIEs of $14.2 billion in 2024 and $12.8 billion in 2023)
23,075 21,349 
Unearned insurance premium and claim reserves(765)(771)
Allowance for finance receivable losses (includes allowance of consolidated VIEs of $1.6 billion in 2024 and $1.4 billion in 2023)
(2,645)(2,480)
Net finance receivables, less unearned insurance premium and claim reserves and allowance for finance receivable losses19,665 18,098 
Restricted cash and restricted cash equivalents (includes restricted cash and restricted cash equivalents of consolidated VIEs of $662 million in 2024 and $523 million in 2023)
693 534 
Goodwill1,474 1,437 
Other intangible assets288 260 
Other assets1,300 1,232 
Total assets$25,578 $24,294 
Liabilities and Shareholders’ Equity  
Long-term debt (includes debt of consolidated VIEs of $12.7 billion in 2024 and $11.6 billion in 2023)
$21,137 $19,813 
Insurance claims and policyholder liabilities597 615 
Deferred and accrued taxes29 9 
Other liabilities (includes other liabilities of consolidated VIEs of $30 million in 2024 and $26 million in 2023)
607 671 
Total liabilities22,370 21,108 
Contingencies (Note 14)
Shareholders’ equity:  
Common stock, par value $0.01 per share; 2,000,000,000 shares authorized, 119,403,628 and 119,757,277 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively
1 1 
Additional paid-in capital1,728 1,715 
Accumulated other comprehensive loss(59)(87)
Retained earnings2,295 2,285 
Treasury stock, at cost; 16,006,456 and 15,383,804 shares at September 30, 2024 and December 31, 2023, respectively
(757)(728)
Total shareholders’ equity3,208 3,186 
Total liabilities and shareholders’ equity$25,578 $24,294 

See Notes to the Condensed Consolidated Financial Statements (Unaudited).
7

ONEMAIN HOLDINGS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Operations (Unaudited)

Three Months Ended
September 30,		Nine Months Ended
September 30,
(dollars in millions, except per share amounts)2024202320242023
Interest income$1,282 $1,167 $3,673 $3,377 
Interest expense301 267 874 749 
Net interest income981 900 2,799 2,628 
Provision for finance receivable losses512 410 1,518 1,275 
Net interest income after provision for finance receivable losses469 490 1,281 1,353 
Other revenues:    
Insurance111 113 334 335 
Investment24 32 87 83 
Gain on sales of finance receivables6 11 18 42 
Net gain (loss) on repurchases and repayments of debt
(1)— (15)1 
Other42 29 112 87 
Total other revenues182 185 536 548 
Other expenses:    
Salaries and benefits220 217 649 649 
Other operating expenses181 164 525 494 
Insurance policy benefits and claims43 48 140 139 
Total other expenses444 429 1,314 1,282 
Income before income taxes207 246 503 619 
Income taxes50 52 120 143 
Net income$157 $194 $383 $476 
Share Data:    
Weighted average number of shares outstanding:     
Basic119,674,809 120,407,889 119,763,844 120,571,103 
Diluted120,118,107 120,754,694 120,182,653 120,790,485 
Earnings per share:    
Basic$1.32 $1.61 $3.20 $3.95 
Diluted$1.31 $1.61 $3.18 $3.94 

See Notes to the Condensed Consolidated Financial Statements (Unaudited).
8

ONEMAIN HOLDINGS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Comprehensive Income (Unaudited)

Three Months Ended
September 30,		Nine Months Ended
September 30,
(dollars in millions)2024202320242023
   
Net income$157 $194 $383 $476 
Other comprehensive income (loss):
    
Net change in unrealized gains (losses) on non-credit impaired available-for-sale securities
53 (28)44 (19)
Foreign currency translation adjustments2 (4)(3)— 
Changes in discount rate for insurance claims and policyholder liabilities(10)8 (5)15 
Other(2)4 (3)2 
Income tax effect:    
Net change in unrealized gains (losses) on non-credit impaired available-for-sale securities
(11)6 (9)4 
Foreign currency translation adjustments— 1 1 — 
Changes in discount rate for insurance claims and policyholder liabilities2 (1)1 (3)
Other— (1)— (1)
Other comprehensive income (loss), net of tax, before reclassification adjustments
34 (15)26 (2)
Reclassification adjustments included in net income, net of tax:    
Net realized losses on available-for-sale securities, net of tax
2 — 2 — 
Reclassification adjustments included in net income, net of tax2 — 2 — 
Other comprehensive income (loss), net of tax
36 (15)28 (2)
Comprehensive income$193 $179 $411 $474 

See Notes to the Condensed Consolidated Financial Statements (Unaudited).

9

ONEMAIN HOLDINGS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Shareholders’ Equity (Unaudited)
OneMain Holdings, Inc. Shareholders’ Equity
(dollars in millions)Common
Stock		Additional
Paid-in
Capital		Accumulated
Other Comprehensive
Income (Loss)		Retained
Earnings		Treasury StockTotal Shareholders’ Equity
Three Months Ended
September 30, 2024
Balance, July 1, 2024$1 $1,723 $(95)$2,263 $(739)$3,153 
Common stock repurchased— — — — (19)(19)
Treasury stock issued— — — — 1 1 
Share-based compensation expense, net of forfeitures
— 7 — — — 7 
Withholding tax on share-based compensation
— (2)— — — (2)
Other comprehensive income
— — 36 — — 36 
Cash dividends *
— — — (125)— (125)
Net income— — — 157 — 157 
Balance, September 30, 2024$1 $1,728 $(59)$2,295 $(757)$3,208 
Three Months Ended
September 30, 2023
Balance, July 1, 2023$1 $1,702 $(114)$2,168 $(699)$3,058 
Common stock repurchased
— — — — (11)(11)
Treasury stock issued— — — — 1 1 
Share-based compensation expense, net of forfeitures
— 6 — — — 6 
Withholding tax on share-based compensation
— (2)— — — (2)
Other comprehensive loss
— — (15)— — (15)
Cash dividends *
— — — (122)— (122)
Net income
— — — 194 — 194 
Balance, September 30, 2023$1 $1,706 $(129)$2,240 $(709)$3,109 
                                      
* Cash dividends declared were $1.04 per share and $1.00 per share during the three months ended September 30, 2024 and 2023, respectively.
10

ONEMAIN HOLDINGS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Shareholders’ Equity (Unaudited) (Continued)
OneMain Holdings, Inc. Shareholders’ Equity
(dollars in millions)Common
Stock		Additional
Paid-in
Capital		Accumulated
Other Comprehensive
Income (Loss)		Retained
Earnings		Treasury StockTotal Shareholders’ Equity
Nine Months Ended
September 30, 2024
Balance, January 1, 2024
$1 $1,715 $(87)$2,285 $(728)$3,186 
Common stock repurchased— — — — (32)(32)
Treasury stock issued— — — — 3 3 
Share-based compensation expense, net of forfeitures
— 23 — — — 23 
Withholding tax on share-based compensation
— (10)— — — (10)
Other comprehensive income
— — 28 — — 28 
Cash dividends (a)
— — — (373)— (373)
Net income— — — 383 — 383 
Balance, September 30, 2024$1 $1,728 $(59)$2,295 $(757)$3,208 
Nine Months Ended
September 30, 2023
Balance, January 1, 2023$1 $1,689 $(127)$2,119 $(667)$3,015 
Net impact of adoption of ASU 2022-02 (b)
— — — 12 — 12 
Balance, January 1, 2023 (post-adoption)1 1,689 (127)2,131 (667)3,027 
Common stock repurchased
— — — — (45)(45)
Treasury stock issued— — — (1)3 2 
Share-based compensation expense, net of forfeitures
— 27 — — — 27 
Withholding tax on share-based compensation
— (10)— — — (10)
Other comprehensive loss
— — (2)— — (2)
Cash dividends (a)
— — — (366)— (366)
Net income— — — 476 — 476 
Balance, September 30, 2023$1 $1,706 $(129)$2,240 $(709)$3,109 
                                      
(a) Cash dividends declared were $3.08 per share and $3.00 per share during the nine months ended September 30, 2024 and 2023, respectively.
(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.

See Notes to the Condensed Consolidated Financial Statements (Unaudited).
11

ONEMAIN HOLDINGS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Cash Flows (Unaudited)

Nine Months Ended
September 30,
(dollars in millions)20242023
Cash flows from operating activities  
Net income$383 $476 
Reconciling adjustments:
Provision for finance receivable losses1,518 1,275 
Depreciation and amortization207 191 
Deferred income tax benefit
(43)(30)
Net loss (gain) on repurchases and repayments of debt
15 (1)
Share-based compensation expense, net of forfeitures23 27 
Gain on sales of finance receivables(18)(42)
Other(4)(1)
Cash flows due to changes in other assets and other liabilities(134)(54)
Net cash provided by operating activities1,947 1,841 
Cash flows from investing activities  
Net principal originations and purchases of finance receivables(2,746)(2,726)
Proceeds from sales of finance receivables453 493 
Foursight Acquisition, net of cash acquired
(64)— 
Available-for-sale securities purchased(151)(129)
Available-for-sale securities called, sold, and matured328 274 
Other securities purchased(6)(4)
Other securities called, sold, and matured11 5 
Other, net(63)(65)
Net cash used for investing activities(2,238)(2,152)
Cash flows from financing activities  
Proceeds from issuance and borrowings of long-term debt, net of issuance costs3,186 3,743 
Repayments and repurchases of long-term debt(2,761)(2,202)
Cash dividends(373)(366)
Common stock repurchased(32)(45)
Treasury stock issued3 2 
Withholding tax on share-based compensation(10)(10)
Net cash provided by financing activities
13 1,122 
Net change in cash and cash equivalents and restricted cash and restricted cash equivalents(278)811 
Cash and cash equivalents and restricted cash and restricted cash equivalents at beginning of period1,548 959 
Cash and cash equivalents and restricted cash and restricted cash equivalents at end of period$1,270 $1,770 
Supplemental cash flow information
Cash and cash equivalents$577 $1,190 
Restricted cash and restricted cash equivalents693 580 
Total cash and cash equivalents and restricted cash and restricted cash equivalents$1,270 $1,770 

Restricted cash and restricted cash equivalents primarily represent funds required to be used for future debt payments relating to our secured transactions.

See Notes to the Condensed Consolidated Financial Statements (Unaudited).
12

ONEMAIN FINANCE CORPORATION AND SUBSIDIARIES
Condensed Consolidated Balance Sheets (Unaudited)

(dollars in millions, except par value amount)September 30, 2024December 31, 2023
Assets
Cash and cash equivalents$540 $1,011 
Investment securities (includes available-for-sale securities with a fair value and an amortized cost basis of $1.5 billion and $1.6 billion in 2024, respectively, and $1.6 billion and $1.8 billion in 2023, respectively)
1,581 1,719 
Net finance receivables (includes loans of consolidated VIEs of $14.2 billion in 2024 and $12.8 billion in 2023)
23,075 21,349 
Unearned insurance premium and claim reserves(765)(771)
Allowance for finance receivable losses (includes allowance of consolidated VIEs of $1.6 billion in 2024 and $1.4 billion in 2023)
(2,645)(2,480)
Net finance receivables, less unearned insurance premium and claim reserves and allowance for finance receivable losses19,665 18,098 
Restricted cash and restricted cash equivalents (includes restricted cash and restricted cash
    equivalents of consolidated VIEs of $662 million in 2024 and $523 million in 2023)
693 534 
Goodwill1,474 1,437 
Other intangible assets288 260 
Other assets1,299 1,230 
Total assets$25,540 $24,289 
Liabilities and Shareholder’s Equity
Long-term debt (includes debt of consolidated VIEs of $12.7 billion in 2024 and $11.6 billion in 2023)
$21,137 $19,813 
Insurance claims and policyholder liabilities597 615 
Deferred and accrued taxes30 9 
Other liabilities (includes other liabilities of consolidated VIEs of $30 million in 2024 and $26 million in 2023)
606 672 
Total liabilities22,370 21,109 
Contingencies (Note 14)
Shareholder’s equity:
Common stock, par value $0.50 per share; 25,000,000 shares authorized, 10,160,021 shares issued
    and outstanding at September 30, 2024 and December 31, 2023
5 5 
Additional paid-in capital1,972 1,959 
Accumulated other comprehensive loss(59)(87)
Retained earnings1,252 1,303 
Total shareholder’s equity3,170 3,180 
Total liabilities and shareholder’s equity$25,540 $24,289 

See Notes to the Condensed Consolidated Financial Statements (Unaudited).
13

ONEMAIN FINANCE CORPORATION AND SUBSIDIARIES
Condensed Consolidated Statements of Operations (Unaudited)

Three Months Ended
September 30,		Nine Months Ended
September 30,
(dollars in millions)2024202320242023
Interest income$1,282 $1,167 $3,673 $3,377 
Interest expense301 267 874 749 
Net interest income981 900 2,799 2,628 
Provision for finance receivable losses512 410 1,518 1,275 
Net interest income after provision for finance receivable losses469 490 1,281 1,353 
Other revenues:
Insurance111 113 334 335 
Investment24 32 87 83 
Gain on sales of finance receivables6 11 18 42 
Net gain (loss) on repurchases and repayments of debt
(1)— (15)1 
Other42 29 112 87 
Total other revenues182 185 536 548 
Other expenses:
Salaries and benefits220 217 649 649 
Other operating expenses181 164 525 494 
Insurance policy benefits and claims43 48 140 139 
Total other expenses444 429 1,314 1,282 
Income before income taxes207 246 503 619 
Income taxes50 52 120 143 
Net income$157 $194 $383 $476 

See Notes to the Condensed Consolidated Financial Statements (Unaudited).

14

ONEMAIN FINANCE CORPORATION AND SUBSIDIARIES
Condensed Consolidated Statements of Comprehensive Income (Unaudited)

Three Months Ended
September 30,		Nine Months Ended
September 30,
(dollars in millions)2024202320242023
Net income$157 $194 $383 $476 
Other comprehensive income (loss):
Net change in unrealized gains (losses) on non-credit impaired available-for-sale securities
53 (28)44 (19)
Foreign currency translation adjustments2 (4)(3)— 
Changes in discount rate for insurance claims and policyholder liabilities(10)8 (5)15 
Other(2)4 (3)2 
Income tax effect:
Net change in unrealized gains (losses) on non-credit impaired available-for-sale securities
(11)6 (9)4 
Foreign currency translation adjustments— 1 1 — 
Changes in discount rate for insurance claims and policyholder liabilities2 (1)1 (3)
Other— (1)— (1)
Other comprehensive income (loss), net of tax, before reclassification adjustments
34 (15)26 (2)
Reclassification adjustments included in net income, net of tax:
Net realized losses on available-for-sale securities, net of tax
2 — 2 
Reclassification adjustments included in net income, net of tax2 — 2 — 
Other comprehensive income (loss), net of tax
36 (15)28 (2)
Comprehensive income$193 $179 $411 $474 

See Notes to the Condensed Consolidated Financial Statements (Unaudited).
15

ONEMAIN FINANCE CORPORATION AND SUBSIDIARIES
Condensed Consolidated Statements of Shareholder’s Equity (Unaudited)

OneMain Finance Corporation Shareholder's Equity
(dollars in millions)Common
Stock		Additional
Paid-in
Capital		Accumulated
Other Comprehensive
Income (Loss)		Retained
Earnings		Total Shareholder’s Equity
Three Months Ended
September 30, 2024
Balance, July 1, 2024$5 $1,967 $(95)$1,263 $3,140 
Share-based compensation expense, net of forfeitures— 7 — — 7 
Withholding tax on share-based compensation— (2)— — (2)
Other comprehensive income
— — 36 — 36 
Cash dividends— — — (168)(168)
Net income— — — 157