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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, 2023

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 filerAccelerated filer
Non-accelerated filerSmaller reporting companyEmerging 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 19, 2023, there were 119,904,122 shares of OneMain Holdings, Inc’s common stock, $0.01 par value, outstanding.
At October 19, 2023, 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 Reportthe Annual Report on Form 10-K of OMH and OMFC for the fiscal year ended December 31, 2022, filed with the SEC on February 10, 2023
ASCAccounting Standards Codification
ASUAccounting Standards Update
ASU 2018-12
The accounting standard issued by FASB in August of 2018, Financial Services-Insurance: Targeted Improvements to the Accounting for Long-Duration Contracts
ASU 2022-02
The accounting standard issued by FASB in March of 2022, Financial Instruments - Credit Losses: Troubled Debt Restructurings and Vintage Disclosures
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
CFPBConsumer Financial Protection Bureau
CMBScommercial mortgage-backed securities
Exchange ActSecurities Exchange Act of 1934, as amended
FASBFinancial Accounting Standards Board
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 personal loans. For precompute personal loans, unpaid principal balance is the gross contractual payments less the unaccreted balance of unearned finance charges. Credit card gross finance receivables equal the principal balance and billed interest and fees
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
Managed receivablesconsist of our C&I net finance receivables and finance receivables serviced for our whole loan sale partners
Modified finance receivablesfinance 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.
Net charge-off ratioannualized net charge-offs as a percentage of average net receivables
Net interest incomeinterest income less interest expense
NYDFSNew York Department of Financial Services
ODARTOneMain Direct Auto Receivables Trust
OMFCOneMain Finance Corporation
4


Term or AbbreviationDefinition
OMFHOneMain Financial Holdings, LLC
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
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 personal 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
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 Indenturescollectively, the following supplements to the Base Indenture: Fifth Supplemental Indenture, dated as of March 12, 2018; Sixth Supplemental Indenture, dated as of May 11, 2018; Seventh Supplemental Indenture, dated as of February 22, 2019; 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; and Fifteenth Supplemental Indenture, dated June 22, 2023
Tax ActPublic Law 115-97 amending the Internal Revenue Code of 1986
TDR finance receivablestroubled debt restructured finance receivables. Debt restructuring, prior to the adoption of ASU 2022-02 on January 1, 2023, in which a concession was granted to the borrower as a result of economic or legal reasons related to the borrower’s financial difficulties
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 loansunencumbered gross finance receivables excluding credit cards
Unsecured corporate revolver
unsecured revolver with a maximum borrowing capacity of $1.25 billion, payable and due on October 25, 2026
Unsecured Notesthe notes, on a senior unsecured basis, issued by OMFC and guaranteed by OMH
VIEsvariable interest entities
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
5


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, 2023December 31, 2022
Assets  
Cash and cash equivalents$1,190 $498 
Investment securities (includes available-for-sale securities with a fair value and an amortized cost basis of $1.6 billion and $1.8 billion in 2023, respectively, and $1.7 billion and $1.9 billion in 2022, respectively)
1,635 1,800 
Net finance receivables (includes loans of consolidated VIEs of $13.2 billion in 2023 and $10.4 billion in 2022)
21,067 19,986 
Unearned insurance premium and claim reserves(772)(749)
Allowance for finance receivable losses (includes allowance of consolidated VIEs of $1.5 billion in 2023 and $1.1 billion in 2022)
(2,449)(2,311)
Net finance receivables, less unearned insurance premium and claim reserves and allowance for finance receivable losses17,846 16,926 
Restricted cash and restricted cash equivalents (includes restricted cash and restricted cash equivalents of consolidated VIEs of $564 million in 2023 and $442 million in 2022)
580 461 
Goodwill1,437 1,437 
Other intangible assets260 261 
Other assets1,198 1,154 
Total assets$24,146 $22,537 
Liabilities and Shareholders’ Equity  
Long-term debt (includes debt of consolidated VIEs of $11.9 billion in 2023 and $9.4 billion in 2022)
$19,851 $18,281 
Insurance claims and policyholder liabilities599 620 
Deferred and accrued taxes6 5 
Other liabilities (includes other liabilities of consolidated VIEs of $26 million in 2023 and $20 million in 2022)
581 616 
Total liabilities21,037 19,522 
Contingencies (Note 12)
Shareholders’ equity:  
Common stock, par value $0.01 per share; 2,000,000,000 shares authorized, 120,245,297 and 121,042,125 shares issued and outstanding at September 30, 2023 and December 31, 2022, respectively
1 1 
Additional paid-in capital1,706 1,689 
Accumulated other comprehensive loss(129)(127)
Retained earnings2,240 2,119 
Treasury stock, at cost; 14,872,259 and 13,813,476 shares at September 30, 2023 and December 31, 2022, respectively
(709)(667)
Total shareholders’ equity3,109 3,015 
Total liabilities and shareholders’ equity$24,146 $22,537 

See Notes to the Condensed Consolidated Financial Statements (Unaudited).
6


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)2023202220232022
Interest income$1,167 $1,118 $3,377 $3,313 
Interest expense267 223 749 661 
Net interest income900 895 2,628 2,652 
Provision for finance receivable losses410 421 1,275 998 
Net interest income after provision for finance receivable losses490 474 1,353 1,654 
Other revenues:    
Insurance113 111 335 334 
Investment32 16 83 40 
Gain on sales of finance receivables11 17 42 50 
Net gain (loss) on repurchases and repayments of debt
 2 1 (26)
Other29 24 87 62 
Total other revenues185 170 548 460 
Other expenses:    
Salaries and benefits217 212 649 621 
Other operating expenses164 151 494 451 
Insurance policy benefits and claims48 35 139 119 
Total other expenses429 398 1,282 1,191 
Income before income taxes246 246 619 923 
Income taxes52 61 143 227 
Net income$194 $185 $476 $696 
Share Data:    
Weighted average number of shares outstanding:     
Basic120,407,889 123,352,522 120,571,103 124,989,263 
Diluted120,754,694 123,568,620 120,790,485 125,243,206 
Earnings per share:    
Basic$1.61 $1.50 $3.95 $5.56 
Diluted$1.61 $1.49 $3.94 $5.55 

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


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)2023202220232022
   
Net income$194 $185 $476 $696 
Other comprehensive loss:
    
Net change in unrealized losses on non-credit impaired available-for-sale securities
(28)(65)(19)(248)
Foreign currency translation adjustments(4)(10) (13)
Changes in discount rate for insurance claims and policyholder liabilities8 18 15 73 
Other4 4 2 24 
Income tax effect:    
Net change in unrealized losses on non-credit impaired available-for-sale securities
6 15 4 57 
Foreign currency translation adjustments1 2  3 
Changes in discount rate for insurance claims and policyholder liabilities(1)(4)(3)(16)
Other(1)(1)(1)(6)
Other comprehensive loss, net of tax, before reclassification adjustments
(15)(41)(2)(126)
Reclassification adjustments included in net income, net of tax:    
Net realized losses on available-for-sale securities, net of tax    (3)
Reclassification adjustments included in net income, net of tax   (3)
Other comprehensive loss, net of tax
(15)(41)(2)(129)
Comprehensive income$179 $144 $474 $567 

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

8


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, 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 
Three Months Ended
September 30, 2022
Balance, July 1, 2022$1 $1,679 $(83)$1,995 $(571)$3,021 
Common stock repurchased
— — — — (42)(42)
Treasury stock issued— — — (1)1  
Share-based compensation expense, net of forfeitures
— 8 — — — 8 
Withholding tax on share-based compensation
— (2)— — — (2)
Other comprehensive loss
— — (41)— — (41)
Cash dividends *
— — — (118)— (118)
Net income
— — — 185 — 185 
Balance, September 30, 2022$1 $1,685 $(124)$2,061 $(612)$3,011 
                                      
* Cash dividends declared were $1.00 per share and $0.95 per share during the three months ended September 30, 2023 and 2022, respectively.
9


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, 2023
Balance, January 1, 2023$1 $1,689 $(127)$2,119 $(667)$3,015 
Net impact of adoption of ASU 2022-02 (see Note 2)   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*
   (366) (366)
Net income   476  476 
Balance, September 30, 2023$1 $1,706 $(129)$2,240 $(709)$3,109 
Nine Months Ended
September 30, 2022
Balance, January 1, 2022$1 $1,672 $5 $1,727 $(368)$3,037 
Common stock repurchased
— — — — (247)(247)
Treasury stock issued— — — (1)3 2 
Share-based compensation expense, net of forfeitures
— 27 — — — 27 
Withholding tax on share-based compensation
— (14)— — — (14)
Other comprehensive loss— — (129)— — (129)
Cash dividends*
— — — (361)— (361)
Net income— — — 696 — 696 
Balance, September 30, 2022$1 $1,685 $(124)$2,061 $(612)$3,011 
                                      
* Cash dividends declared were $3.00 per share and $2.85 per share during the nine months ended September 30, 2023 and 2022, respectively.

See Notes to the Condensed Consolidated Financial Statements (Unaudited).
10


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

Nine Months Ended
September 30,
(dollars in millions)20232022
Cash flows from operating activities  
Net income$476 $696 
Reconciling adjustments:
Provision for finance receivable losses1,275 998 
Depreciation and amortization191 188 
Deferred income tax benefit
(30)(45)
Net loss (gain) on repurchases and repayments of debt
(1)26 
Share-based compensation expense, net of forfeitures27 27 
Gain on sales of finance receivables(42)(50)
Other(1)4 
Cash flows due to changes in other assets and other liabilities(54)(121)
Net cash provided by operating activities1,841 1,723 
Cash flows from investing activities  
Net principal originations and purchases of finance receivables(2,726)(2,010)
Proceeds from sales of finance receivables493 599 
Available-for-sale securities purchased(129)(406)
Available-for-sale securities called, sold, and matured274 370 
Other securities purchased(4)(5)
Other securities called, sold, and matured5 11 
Other, net(65)(56)
Net cash used for investing activities(2,152)(1,497)
Cash flows from financing activities  
Proceeds from issuance and borrowings of long-term debt, net of issuance costs3,743 4,479 
Repayments and repurchases of long-term debt(2,202)(4,080)
Cash dividends(366)(364)
Common stock repurchased(45)(247)
Treasury stock issued2 2 
Withholding tax on share-based compensation(10)(14)
Net cash provided by (used for) financing activities1,122 (224)
Net change in cash and cash equivalents and restricted cash and restricted cash equivalents811 2 
Cash and cash equivalents and restricted cash and restricted cash equivalents at beginning of period959 1,017 
Cash and cash equivalents and restricted cash and restricted cash equivalents at end of period$1,770 $1,019 
Supplemental cash flow information
Cash and cash equivalents$1,190 $536 
Restricted cash and restricted cash equivalents580 483 
Total cash and cash equivalents and restricted cash and restricted cash equivalents$1,770 $1,019 

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).
11


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

(dollars in millions, except par value amount)September 30, 2023December 31, 2022
Assets
Cash and cash equivalents$1,187 $490 
Investment securities (includes available-for-sale securities with a fair value and an amortized cost basis of $1.6 billion and $1.8 billion in 2023, respectively, and $1.7 billion and $1.9 billion in 2022, respectively)
1,635 1,800 
Net finance receivables (includes loans of consolidated VIEs of $13.2 billion in 2023 and $10.4 billion in 2022)
21,067 19,986 
Unearned insurance premium and claim reserves(772)(749)
Allowance for finance receivable losses (includes allowance of consolidated VIEs of $1.5 billion in 2023 and $1.1 billion in 2022)
(2,449)(2,311)
Net finance receivables, less unearned insurance premium and claim reserves and allowance for finance receivable losses17,846 16,926 
Restricted cash and restricted cash equivalents (includes restricted cash and restricted cash
    equivalents of consolidated VIEs of $564 million in 2023 and $442 million in 2022)
580 461 
Goodwill1,437 1,437 
Other intangible assets260 261 
Other assets1,196 1,152 
Total assets$24,141 $22,527 
Liabilities and Shareholder’s Equity
Long-term debt (includes debt of consolidated VIEs of $11.9 billion in 2023 and $9.4 billion in 2022)
$19,851 $18,281 
Insurance claims and policyholder liabilities599 620 
Deferred and accrued taxes6 5 
Other liabilities (includes other liabilities of consolidated VIEs of $26 million in 2023 and $20 million in 2022)
581 617 
Total liabilities21,037 19,523 
Contingencies (Note 12)
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, 2023 and December 31, 2022
5 5 
Additional paid-in capital1,950 1,933 
Accumulated other comprehensive loss(129)(127)
Retained earnings1,278 1,193 
Total shareholder’s equity3,104 3,004 
Total liabilities and shareholder’s equity$24,141 $22,527 

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


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

Three Months Ended
September 30,
Nine Months Ended
September 30,
(dollars in millions)2023202220232022
Interest income$1,167 $1,118 $3,377 $3,313 
Interest expense267 223 749 661 
Net interest income900 895 2,628 2,652 
Provision for finance receivable losses410 421 1,275 998 
Net interest income after provision for finance receivable losses490 474 1,353 1,654 
Other revenues:
Insurance113 111 335 334 
Investment32 16 83 40 
Gain on sales of finance receivables11 17 42 50 
Net gain (loss) on repurchases and repayments of debt
 2 1 (26)
Other29 24 87 62 
Total other revenues185 170 548 460 
Other expenses:
Salaries and benefits217 212 649 621 
Other operating expenses164 151 494 451 
Insurance policy benefits and claims48 35 139 119 
Total other expenses429 398 1,282 1,191 
Income before income taxes246 246 619 923 
Income taxes52 61 143 227 
Net income$194 $185 $476 $696 

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

13


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)2023202220232022
Net income$194 $185 $476 $696 
Other comprehensive loss:
Net change in unrealized losses on non-credit impaired available-for-sale securities
(28)(65)(19)(248)
Foreign currency translation adjustments(4)(10) (13)
Changes in discount rate for insurance claims and policyholder liabilities8 18 15 73 
Other4 4 2 24 
Income tax effect:
Net change in unrealized losses on non-credit impaired available-for-sale securities
6 15 4 57 
Foreign currency translation adjustments1 2  3 
Changes in discount rate for insurance claims and policyholder liabilities(1)(4)(3)(16)
Other(1)(1)(1)(6)
Other comprehensive loss, net of tax, before reclassification adjustments
(15)(41)(2)(126)
Reclassification adjustments included in net income, net of tax:
Net realized losses on available-for-sale securities, net of tax    (3)
Reclassification adjustments included in net income, net of tax   (3)
Other comprehensive loss, net of tax
(15)(41)(2)(129)
Comprehensive income$179 $144 $474 $567 

See Notes to the Condensed Consolidated Financial Statements (Unaudited).
14


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, 2023
Balance, July 1, 2023$5 $1,946 $(114)$1,204 $3,041 
Share-based compensation expense, net of forfeitures 6   6 
Withholding tax on share-based compensation (2)  (2)
Other comprehensive loss  (15) (15)
Cash dividends   (120)(120)
Net income   194 194 
Balance, September 30, 2023$5 $1,950 $(129)$1,278 $3,104 
Three Months Ended
September 30, 2022
Balance, July 1, 2022$5 $1,923 $(83)$1,166 $3,011 
Share-based compensation expense, net of forfeitures— 8 — — 8 
Withholding tax on share-based compensation— (2)— — (2)
Other comprehensive loss— — (41)— (41)
Cash dividends— — — (177)(177)
Net income— — — 185 185 
Balance, September 30, 2022$5 $1,929