Document

EX-99.1 2 exhibit991earningsreleaseo.htm EX-99.1 Document


展示99.1

ONEMAIN HOLDINGS, INC.は2024年第3四半期の結果を報告しました。

–2024年第3四半期の希薄化後epsは1.31ドルです

–2024年第3四半期の調整後希薄化後epsは1.26ドル

–2024年第3四半期、総受取債権は243億ドルでした。

–四半期配当の1株あたり$1.04を宣言しました

–第3四半期に1900万ドルで42万株を取り戻しました

ニューヨーク、ニューヨーク、 2024年10月30日 - OneMain Holdings, Inc.（nyse: OMF）は、ノンプライム消費者に責任あるクレジットアクセスを提供するリーダーであり、2024年第3四半期の税前収入は20700万ドル、当期純利益は15700万ドルで、前年同期はそれぞれ24600万ドルと19400万ドルと比較しています。希薄化後1株当たりの利益は2024年第3四半期に1.31ドルで、前年同期の1.61ドルと比較しています。

2024年10月30日、ワンメインホールディングスは1株あたり1.04ドルの四半期配当を宣言し、2024年11月18日に支払われる予定で、2024年11月12日の取引終了時点で同社の普通株式の記録保有者に支払われます。

2024年10月16日、取締役会はシェア買い戻しプログラムを2026年12月31日まで延長しました。四半期中、会社は約42万株の普通株式を1,900万ドルで買い戻しました。

ワンメインホールディングスのダグ・シュルマン会長兼CEOは、「ワンメインは、強い創業と売上高の成長、クレジットのトレンドの持続的な改善を通じて、今後も今後も株主価値を高めるために、テクノロジー、データサイエンス、新製品への投資が成果を発揮しています」と述べました。

下記のセグメント結果は、非GAAPベースで報告されています。このプレスリリースの最後に非GAAPから比較可能なGAAP基準への調整が必要となります。

消費関連と保険セグメント（"C＆I"）

2024年第3四半期の調整後税前収益は2億2000万ドルで、調整後当期純利益は1億5100万ドルでした。これに対し、前年の同四半期は、それぞれ2億5200万ドルと1億8900万ドルでした。調整後希薄化後1株当たりの利益は2024年第3四半期に1.26ドルで、前年の同四半期の1.57ドルと比較しています。

経営陣は、C＆Iキャピタルの生成に基づいてビジネスを運営しており、これをC＆I調整後の当期純利益と定義しています。これは、税引後のC＆I債権損失の変動を除いたものであり、現在期のC＆I純償還も考慮しています。C＆Iキャピタルの生成額は2024年第3四半期において2億1100万ドルで、前年同四半期の2億3200万ドルと比較して減少しました。この減少は、主により多くの純償還によって引き起こされ、部分的には、前年期と比較して現在の四半期のポートフォリオ成長からの収益の増加によって相殺されました。

2024年9月30日時点で、私たちの全額売却パートナー向けにサービスされているローンと第三者によって起源を持つ自動車ファイナンスローンを含む債権管理資産は、2023年9月30日時点の219億ドルから11%増の243億ドルに増加しました。

2024年第3四半期の消費関連ローンの発行総額は37億ドルで、前年の四半期の33億ドルから13%増加しました。

売上高は、利息収入とその他の収入を含めた総額で、2024年第2四半期には15億ドルであり、前年同四半期の13億ドルから8%増加しました。2024年第3四半期の利息収入は13億ドルで、前年同四半期の12億ドルから9%増加しました。この成長は、平均純金融債権が高いことから推進されました。

2024年第3四半期の利子費用は2億9900万ドルでした。前年の同四半期の2億6500万ドルから13%増加しました。これは、受取債務成長をサポートするための平均負債の増加と、より高いすべて投信の平均価格によるものです。

2024年第3四半期の貸倒れ引当金は51200万ドルで、前年同期比10200万ドル増加しました。2024年第3四半期に、貸倒入金の割当金は8000万ドル増加し、債権の増加によって推進されました。




C＆Iが選択する延滞率と損失率	2024年9月30日		2024年6月30日		2023年9月30日






消費者ローン：
30日以上の延滞率	5.63	%	5.45	%	5.55	%
90日以上の延滞率	2.49	%	2.33	%	2.57	%
30〜89日の延滞率	3.14	%	3.13	%	2.98	%

債権回収益減	7.33	%	8.29	%	6.68	%

2024年第3四半期の運営費は39600万ドルで、前年同四半期の37300万ドルから6%増加し、ビジネスへの継続的な投資とFoursightの追加によるものであり、重点を置いた費用削減施策によって一部相殺されています。

資金調達と流動性

2024年9月30日現在、会社は214億ドルの元本残高を有しており、そのうち59%が担保付きでした。会社は5億7700万ドルの現金及び現金同等物を有しており、その中には一般企業目的には利用できない、規制された保険子会社またはその他の運営活動用に保管された2,6600万ドルの現金及び現金同等物も含まれています。

現金及び現金同等物と、無担保企業リボルバーからの11 億ドルの未引き出しコミットメント、1 つの会社が持つ70 億ドルの未引き出しコミットメントに加えて、回転流動ファシリティの下での未引き出しコミットメントとクレジットカードの変数資金ノート施設および90 億ドルの未担保債権が、著しい流動性リソースを提供しています。

カンファレンスコールおよびウェブキャスト情報

ワンメインホールディングスのマネジメントは、2024年10月30日水曜日の午前9時（東部時間）に会社の業績、展望、および関連事項について電話会議およびウェブキャストを開催します。電話会議とウェブキャストは一般の方々に公開されています。一般の方々は、800-343-1703（米国国内）または785-424-1116（国際）へのダイヤルおよび14920の会議IDを使用して通話を聞くことができます。または、ワンメインファイナンシャルのウェブサイトの投資家向け情報セクションhttp://investor.onemainfinancial.comを通じてライブオーディオウェブキャストで聞くこともできます。ライブ放送を聞くことができない方々のために、イベント後に弊社のウェブサイトでリプレイをご覧いただけます。会議のスタート前に、インベスタープレゼンテーションがワンメインファイナンシャルのウェブサイトの投資家向けページで利用可能になります。

ワンメインホールディングス株式会社について

ワンメインホールディングス（nyse: OMF）は、非プライム消費者に責任あるクレジットへのアクセスを提供するリーダーであり、真面目なアメリカ人の財務状況の改善に尽力しています。私たちは顧客にオンラインや全米44州の1,300か所の店舗で利用可能な個別のソリューションを通じて、今日の問題を解決し、より良い財務の未来に到達する力を与えています。ワンメインは、私たちが役立つ人々とコミュニティにポジティブな影響を与えることに取り組んでいます。詳細については、www.OneMainFinancial.comをご覧ください。

非GAAP財務指標の使用

消費関連と保険の運用効果をセグメント会計基準を用いて報告し、（i）興味の費用および運用コストの割当方法を反映し、ビジネスの結果を評価する方法を反映し、ならびに（ii）の購買会計の影響を除外します（財務債権および取得時の長期債務におけるプレミアム/ディスカウントを除去し、将来期間における償却/増価を除外し）。消費関連と保険の調整後税引き前利益（損失）、消費関連と保険の調整後当期純利益（損失）、および消費関連と保険の調整後希薄化後1株当たり利益（損失）は、ビジネスのパフォーマンスを評価するために使用される主要な業績指標です。消費関連と保険の調整後税引き前利益（損失）は、財務情報の一部を除外し、サービス会計基準に基づいて所得（損失）の前の所得税を除外し、再編成費用、債務の返済による純損失、取得に関連する取引および統合費、規制当局との合意による解決金、その他の事項および戦略的活動を除外します。これらにはCOVID-19と現金決済型株式報酬と関連する費用が含まれます。これらの非GAAP財務尺度は、セグメントの収益性を評価する際に有用であると考えています。

We also use Consumer and Insurance pretax capital generation and Consumer and Insurance capital generation, non-GAAP financial measures, as a key performance measure of our segment. Consumer and Insurance pretax capital generation represents Consumer and Insurance adjusted pretax income, as discussed above, and excludes the change in our Consumer and Insurance allowance for finance receivable losses in the period while still considering the Consumer and Insurance net charge-offs incurred during the period. Consumer and Insurance capital generation represents the after-tax effect of Consumer and Insurance pretax capital generation. We believe that these non-GAAP measures are useful in assessing the capital created in the period impacting the overall capital adequacy of the Company. We believe that the Company’s reserves, combined with its equity, represent the Company's loss absorption capacity.

We utilize these non-GAAP measures in evaluating our performance. Additionally, these non-GAAP measures are consistent with the performance goals established in OMH’s executive compensation program. These non-GAAP financial measures should be considered supplemental to, but not as a substitute for or superior to, income (loss) before income taxes, net income, or other measures of financial performance prepared in accordance with GAAP.

This document contains summarized information concerning the Company and its business, operations, financial performance and trends. No representation is made that the information in this document is complete. For additional financial, statistical and business related information see the Company's most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with the U.S. Securities and Exchange Commission (the “SEC”), as well as the Company’s other reports filed with the SEC from time to time, which are or will be available in the Investor Relations section of the OneMain Financial website (www.omf.com) and the SEC's website (www.sec.gov).

Cautionary Note Regarding Forward-Looking Statements

This document contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements preceded by, followed by or that otherwise include the words “anticipates,” “appears,” “assumes,” “believes,” “can,” “continues,” “could,” “estimates,” “expects,” “forecasts,” “foresees,” “goal,” “intends,” “likely,” “objective,” “plans,” “projects,” “target,” “trend,” “remains,” and similar expressions or future or conditional verbs such as “could,” “may,” “might,” “should,” “will” or “would” are intended to identify forward-looking statements, but these words are not the exclusive means of identifying forward-looking statements.

Forward-looking statements are not statements of historical fact but instead represent only management’s current beliefs regarding future events, objectives, goals, projections, strategies, performance, and future plans, and underlying assumptions and other statements related thereto. You should not place undue reliance on these forward-looking statements. By their nature, forward-looking statements are subject to risks, uncertainties, assumptions and other important factors that may cause actual results, performance or achievements to differ materially from those expressed in or implied by such forward-looking statements. Important factors that could cause actual results, performance, or achievements to differ materially from those expressed in or implied by forward-looking statements include, without limitation, the following: adverse changes and volatility in general economic conditions, including the interest rate environment and the financial markets; the sufficiency of our allowance for finance receivable losses; increased levels of unemployment and personal bankruptcies; the current inflationary environment and related trends affecting our customers; natural or accidental events such as earthquakes, hurricanes, pandemics, floods or wildfires affecting our customers, collateral, or our facilities; a failure in or breach of our information, operational or security systems or infrastructure or those of third parties, including as a result of cyber incidents, war or other disruptions; the adequacy of our credit risk scoring models; geopolitical risks, including recent geopolitical actions outside the U.S.; adverse changes in our ability to attract and retain employees or key executives; increased competition or adverse changes in customer responsiveness to our distribution channels or products; changes in federal, state, or local laws, regulations, or regulatory policies and practices or increased regulatory scrutiny of our business or industry; risks associated with our insurance operations; the costs and effects of any actual or alleged violations of any federal, state, or local laws, rules or regulations; the costs and effects of any fines, penalties, judgments, decrees, orders, inquiries, investigations, subpoenas, or enforcement or other proceedings of any governmental or quasi-governmental agency or authority; our substantial indebtedness and our continued ability to access the capital markets and maintain adequate current sources of funds to satisfy our cash flow requirements; our ability to comply with all of our covenants; the effects of any downgrade of our debt ratings by credit rating agencies; and other risks and uncertainties described in the “Risk Factors” and “Management’s Discussion and Analysis” sections of the Company’s most recent Form 10-K filed with the SEC and in the Company’s other filings with the SEC from time to time.

If one or more of these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, our actual results may vary materially from what we may have expressed or implied by these forward-looking statements. You should specifically consider the factors identified in this document that could cause actual results to differ before making an investment decision to purchase our securities. Furthermore, new risks and uncertainties arise from time to time, and it is impossible for us to predict those events or how they may affect us.

Forward looking statements included in this document speak only as of the date on which they were made. We undertake no obligation to update or revise any forward-looking statements, whether written or oral, to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events or the non-occurrence of anticipated events, whether as a result of new information, future developments or otherwise, except as required by law.


OneMain Holdings, Inc.
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

	Quarter Ended										Fiscal Year
(unaudited, $ in millions, except per share amounts)	Sep 30, 2024		Jun 30, 2024		Mar 31, 2024		Dec 31, 2023		Sep 30, 2023			2023	2022

Interest income	$	1,282	$	1,219	$	1,173	$	1,187	$	1,167				$	4,564	$	4,435

Interest expense	(301)		(297)		(277)		(270)		(267)					(1,019)		(892)
Net interest income	981		922		896		917		900					3,545		3,543
Provision for finance receivable losses	(512)		(575)		(431)		(446)		(410)					(1,721)		(1,402)
Net interest income after provision for finance receivable losses	469		347		465		471		490					1,824		2,141


Insurance	111		111		112		113		113					448		445
Investment	24		30		32		32		32					116		61
Gain on sales of finance receivables	6		6		6		10		11					52		63
Net loss on repurchases and repayments of debt	(1)		(12)		(2)		(1)		—					—		(27)

Other	42		39		32		32		29					119		87
Total other revenues	182		174		180		186		185					735		629





Operating expenses	(401)		(382)		(391)		(388)		(381)					(1,530)		(1,457)
Insurance policy benefits and claims	(43)		(47)		(50)		(49)		(48)					(189)		(158)
Total other expenses	(444)		(429)		(441)		(437)		(429)					(1,719)		(1,615)

Income before income taxes	207		92		204		220		246					840		1,155
Income taxes	(50)		(21)		(49)		(55)		(52)					(199)		(283)
Net income	$	157	$	71	$	155	$	165	$	194				$	641	$	872




Weighted average number of diluted shares	120.1		120.2		120.2		120.1		120.8					120.6		124.4


Diluted EPS	$	1.31	$	0.59	$	1.29	$	1.38	$	1.61				$	5.32	$	7.01
Book value per basic share	$	26.87	$	26.33	$	26.81	$	26.60	$	25.86				$	26.60	$	24.91
Return on assets	2.5%		1.1%		2.6%		2.7%		3.2%					2.7%		3.9%



Change in allowance for finance receivable losses	$	(81)	$	(79)	$	26	$	(31)	$	(57)				$	(185)	$	(216)
Net charge-offs	(431)		(496)		(457)		(415)		(353)					(1,536)		(1,186)
Provision for finance receivable losses	$	(512)	$	(575)	$	(431)	$	(446)	$	(410)				$	(1,721)	$	(1,402)



Note:			Quarters may not sum to fiscal year due to rounding.
			On January 1, 2023, the Company adopted ASU 2018-12, Financial Services - Insurance: Targeted Improvements to the Accounting for Long-Duration Contracts. In accordance with this standard, the Company has recast its fiscal year 2022 financial information to reflect the effects of the adoption.


OneMain Holdings, Inc.
CONSOLIDATED BALANCE SHEETS (UNAUDITED)

	As of

(unaudited, $ in millions)	Sep 30, 2024		Jun 30, 2024		Mar 31, 2024		Dec 31, 2023		Sep 30, 2023

Assets
Cash and cash equivalents	$	577	$	667	$	831	$	1,014	$	1,190
Investment securities	1,581		1,681		1,691		1,719		1,635


Net finance receivables	23,075		22,365		21,083		21,349		21,067
Unearned insurance premium and claim reserves	(765)		(753)		(749)		(771)		(772)
Allowance for finance receivable losses	(2,645)		(2,564)		(2,454)		(2,480)		(2,449)
Net finance receivables, less unearned insurance premium and claim reserves and allowance for finance receivable losses	19,665		19,048		17,880		18,098		17,846

Restricted cash and restricted cash equivalents	693		630		599		534		580
Goodwill	1,474		1,474		1,437		1,437		1,437
Other intangible assets	288		289		259		260		260
Other assets	1,300		1,296		1,211		1,232		1,198
Total assets	$	25,578	$	25,085	$	23,908	$	24,294	$	24,146

Liabilities and Shareholders’ Equity
Long-term debt	$	21,137	$	20,671	$	19,520	$	19,813	$	19,851
Insurance claims and policyholder liabilities	597		594		597		615		599
Deferred and accrued taxes	29		10		34		9		6
Other liabilities	607		657		543		671		581
Total liabilities	22,370		21,932		20,694		21,108		21,037

Common stock	1		1		1		1		1
Additional paid-in capital	1,728		1,723		1,718		1,715		1,706
Accumulated other comprehensive loss	(59)		(95)		(91)		(87)		(129)
Retained earnings	2,295		2,263		2,318		2,285		2,240
Treasury stock	(757)		(739)		(732)		(728)		(709)
Total shareholders’ equity	3,208		3,153		3,214		3,186		3,109
Total liabilities and shareholders’ equity	$	25,578	$	25,085	$	23,908	$	24,294	$	24,146


OneMain Holdings, Inc.
CONSOLIDATED KEY FINANCIAL METRICS (UNAUDITED)

	As of

(unaudited, $ in millions)	Sep 30, 2024		Jun 30, 2024		Mar 31, 2024		Dec 31, 2023		Sep 30, 2023

Liquidity
Cash and cash equivalents	$	577	$	667	$	831	$	1,014	$	1,190
Cash and cash equivalents unavailable for general corporate purposes	266		211		165		148		169
Unencumbered receivables	9,017		8,060		8,306		8,427		7,715
Undrawn conduit facilities	6,749		6,399		6,399		6,399		6,175
Undrawn corporate revolver	1,125		1,325		1,325		1,325		1,250
Undrawn credit card revolving variable funding note facilities	300		300		300		—		—
Drawn conduit facilities	176		1		1		1		—





Net adjusted debt	$	20,653	$	20,043	$	18,682	$	18,775	$	18,658

Total Shareholders' equity	$	3,208	$	3,153	$	3,214	$	3,186	$	3,109
Goodwill	(1,474)		(1,474)		(1,437)		(1,437)		(1,437)
Other intangible assets	(288)		(289)		(259)		(260)		(260)
Junior subordinated debt	172		172		172		172		172
Adjusted tangible common equity	1,618		1,562		1,690		1,661		1,584

Allowance for finance receivable losses, net of tax (1)	1,984		1,923		1,840		1,860		1,837
Adjusted capital	$	3,602	$	3,485	$	3,530	$	3,521	$	3,421

Net leverage (net adjusted debt to adjusted capital)	5.7x		5.8x		5.3x		5.3x		5.5x



(1)			Income taxes assume a 25% tax rate.


OneMain Holdings, Inc.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (UNAUDITED)

	Quarter Ended										Fiscal Year

(unaudited, $ in millions)	Sep 30, 2024		Jun 30, 2024		Mar 31, 2024		Dec 31, 2023		Sep 30, 2023			2023	2022

Consumer & Insurance	$	200	$	145	$	203	$	220	$	250				$	845	$	1,169
Other	—		—		—		(1)		(4)					(6)		—
Segment to GAAP adjustment	7		(53)		1		1		—					1		(14)
Income before income taxes - GAAP basis	$	207	$	92	$	204	$	220	$	246				$	840	$	1,155

Consumer & Insurance pretax income	$	200	$	145	$	203	$	220	$	250				$	845	$	1,169
Restructuring charges	1		—		27		—		—					—		7
Net loss on repurchases and repayments of debt	—		12		2		—		—					—		26
Acquisition-related transaction and integration expenses	1		2		1		—		—					—		—
Regulatory settlements	—		—		—		2		—					26		—



Other (1)	—		4		—		1		2					3		4
Consumer & Insurance adjusted pretax income (non-GAAP)	$	202	$	163	$	233	$	223	$	252				$	874	$	1,206


















Reconciling items (2)	$	5	$	(71)	$	(29)	$	(2)	$	(2)				$	(28)	$	(51)

Consumer & Insurance	$	23,128	$	22,428	$	21,083	$	21,349	$	21,068				$	21,349	$	19,987

Segment to GAAP adjustment	(53)		(63)		—		—		(1)					—		(1)
Net finance receivables - GAAP basis	$	23,075	$	22,365	$	21,083	$	21,349	$	21,067				$	21,349	$	19,986

Consumer & Insurance	$	2,651	$	2,571	$	2,454	$	2,480	$	2,449				$	2,480	$	2,315

Segment to GAAP adjustment	(6)		(7)		—		—		—					—		(4)
Allowance for finance receivable losses - GAAP basis	$	2,645	$	2,564	$	2,454	$	2,480	$	2,449				$	2,480	$	2,311



Note:			Quarters may not sum to fiscal year due to rounding.
			On January 1, 2023, the Company adopted ASU 2018-12, Financial Services - Insurance: Targeted Improvements to the Accounting for Long-Duration Contracts. In accordance with this standard, the Company has recast its fiscal year 2022 financial information to reflect the effects of the adoption.


(1)			Includes strategic activities and other items.
(2)			Reconciling items consist of Segment to GAAP adjustment and the adjustments to Pretax income – segment accounting basis for C&I and Other. The adjustments to Other adjusted pretax income (loss) are not disclosed in the table above due to immateriality.


OneMain Holdings, Inc.
CONSUMER & INSURANCE SEGMENT (UNAUDITED) (Non-GAAP)

	Quarter Ended										Fiscal Year

(unaudited, in millions, except per share amounts)	Sep 30, 2024		Jun 30, 2024		Mar 31, 2024		Dec 31, 2023		Sep 30, 2023		2023		2022



Interest income	$	1,271	$	1,210	$	1,172	$	1,186	$	1,166	$	4,559	$	4,429
Interest expense	(299)		(295)		(276)		(271)		(265)		(1,015)		(886)
Net interest income	972		915		896		915		901		3,544		3,543
Provision for finance receivable losses	(512)		(515)		(431)		(446)		(410)		(1,721)		(1,399)
Net interest income after provision for finance receivable losses	460		400		465		469		491		1,823		2,144

Insurance	111		111		112		113		113		448		445
Investment	24		30		32		32		32		116		61
Gain on sales of finance receivables	6		6		6		10		11		52		63
Other	40		37		30		30		26		111		75
Total other revenues	181		184		180		185		182		727		644


Operating expenses	(396)		(374)		(362)		(382)		(373)		(1,487)		(1,424)
Insurance policy benefits and claims	(43)		(47)		(50)		(49)		(48)		(189)		(158)
Total other expenses	(439)		(421)		(412)		(431)		(421)		(1,676)		(1,582)

Adjusted pretax income (non-GAAP)	202		163		233		223		252		874		1,206

Income taxes (1)	(51)		(41)		(58)		(56)		(63)		(219)		(302)

Adjusted net income (non-GAAP)	$	151	$	122	$	175	$	167	$	189	$	655	$	904

Weighted average number of diluted shares	120.1		120.2		120.2		120.1		120.8		120.6		124.4
C&I adjusted diluted EPS	$	1.26	$	1.02	$	1.45	$	1.39	$	1.57	$	5.43	$	7.27



Note:			Quarters may not sum to fiscal year due to rounding.
			On January 1, 2023, the Company adopted ASU 2018-12, Financial Services - Insurance: Targeted Improvements to the Accounting for Long-Duration Contracts. In accordance with this standard, the Company has recast its fiscal year 2022 financial information to reflect the effects of the adoption.
(1)			Income taxes assume a 25% tax rate.


OneMain Holdings, Inc.
CONSUMER & INSURANCE SEGMENT METRICS (UNAUDITED)

	Quarter Ended															Fiscal Year

(unaudited, $ in millions)	Sep 30, 2024			Jun 30, 2024			Mar 31, 2024			Dec 31, 2023			Sep 30, 2023				2023	2022










Net finance receivables - personal loans	$	20,569		$	20,073		$	19,854		$	20,274		$	20,176					$	20,274		$	19,498
Net finance receivables - auto finance	2,009			1,889			843			745			660						745			382
Net finance receivables - consumer loans	22,578			21,962			20,697			21,019			20,836						21,019			19,880
Net finance receivables - credit cards	550			466			386			330			232						330			107
Net finance receivables	$	23,128		$	22,428		$	21,083		$	21,349		$	21,068					$	21,349		$	19,987



Allowance for finance receivable losses	$	2,651		$	2,571		$	2,454		$	2,480		$	2,449					$	2,480		$	2,315



Allowance ratio	11.46		%	11.46		%	11.64		%	11.62		%	11.62		%				11.62		%	11.58		%



Net finance receivables	23,128			22,428			21,083			21,349			21,068						21,349			19,987
Finance receivables serviced for our whole loan sale partners	1,191			1,229			871			882			864						882			766
Managed receivables	$	24,319		$	23,657		$	21,954		$	22,231		$	21,932					$	22,231		$	20,753

Average net finance receivables - personal loans	$	20,396		$	19,937		$	20,117		$	20,273		$	20,032					$	19,788		$	19,151
Average net finance receivables - auto finance	1,949			1,843			786			707			608						559			226
Average net finance receivables - consumer loans	22,345			21,780			20,903			20,980			20,640						20,347			19,377
Average net finance receivables - credit cards	515			430			364			281			193						181			65
Average net receivables	22,860			22,210			21,267			21,261			20,833						20,528			19,442
Average receivables serviced for our whole loan sale partners	1,218			1,195			867			881			864						852			610
Average managed receivables	$	24,078		$	23,405		$	22,134		$	22,142		$	21,697					$	21,380		$	20,052



Note:			Ratios may not sum due to rounding.


OneMain Holdings, Inc.
CONSUMER & INSURANCE KEY METRICS (UNAUDITED) (Non-GAAP)

	Quarter Ended										Fiscal Year

(unaudited, in millions)	Sep 30, 2024		Jun 30, 2024		Mar 31, 2024		Dec 31, 2023		Sep 30, 2023			2023	2022

Adjusted pretax income (non-GAAP)	$	202	$	163	$	233	$	223	$	252				$	874	$	1,206

Provision for finance receivable losses	512		515		431		446		410					1,721		1,399
Net charge-offs	(432)		(496)		(457)		(415)		(353)					(1,536)		(1,186)
Change in C&I allowance for finance receivable losses (non-GAAP)	80		19		(26)		31		57					185		213

Pretax capital generation (non-GAAP)	282		182		207		254		309					1,059		1,419

Capital generation, net of tax(1) (non-GAAP)	$	211	$	136	$	155	$	191	$	232				$	794	$	1,064

C&I average net receivables	$	22,860	$	22,210	$	21,267	$	21,261	$	20,833				$	20,528	$	19,442

Capital generation return on receivables (non-GAAP)	3.7%		2.9%		2.9%		3.6%		4.4%					3.9%		5.5%



Note:			Consumer & Insurance financial information is presented on an adjusted Segment Accounting Basis. Amounts may not sum to fiscal year due to rounding.

			On January 1, 2023, the Company adopted ASU 2018-12, Financial Services - Insurance: Targeted Improvements to the Accounting for Long-Duration Contracts. In accordance with this standard, the Company has recast its fiscal year 2022 financial information to reflect the effects of the adoption.
(1)			Income taxes assume a 25% rate.


OneMain Holdings, Inc.
CONSUMER & INSURANCE CONSUMER LOANS METRICS (UNAUDITED)

	Quarter Ended														Fiscal Year

(unaudited, $ in millions)	Sep 30, 2024		Jun 30, 2024			Mar 31, 2024			Dec 31, 2023			Sep 30, 2023				2023	2022














Gross charge-offs	$	490	$	553		$	522		$	468		$	410					$	1,768		$	1,431
Recoveries	(78)		(75)			(77)			(60)			(63)						(258)			(252)
Net charge-offs	$	412	$	478		$	445		$	408		$	347					$	1,510		$	1,179

Gross charge-off ratio	8.72%		9.68		%	10.05		%	8.82		%	7.89		%				8.69		%	7.39		%
Recovery ratio	(1.39%)		(1.39		%)	(1.48		%)	(1.13		%)	(1.21		%)				(1.27		%)	(1.30		%)
Net charge-off ratio	7.33%		8.29		%	8.58		%	7.70		%	6.68		%				7.42		%	6.09		%


Average net receivables	$	22,345	$	21,780		$	20,903		$	20,980		$	20,640					$	20,346		$	19,377
Yield	22.1%		21.9%			22.1%			22.1%			22.2%						22.2%			22.8%
Origination volume	$	3,712	$	3,582		$	2,523		$	3,014		$	3,278					$	12,851		$	13,879


30+ delinquency	$	1,272	$	1,198		$	1,153		$	1,294		$	1,156					$	1,294		$	1,154
90+ delinquency	$	562	$	511		$	591		$	605		$	535					$	605		$	544
30-89 delinquency	$	710	$	687		$	562		$	689		$	621					$	689		$	610

30+ delinquency ratio	5.63%		5.45		%	5.57		%	6.16		%	5.55		%				6.16		%	5.80		%
90+ delinquency ratio	2.49%		2.33		%	2.86		%	2.88		%	2.57		%				2.88		%	2.74		%
30-89 delinquency ratio	3.14%		3.13		%	2.72		%	3.28		%	2.98		%				3.28		%	3.07		%



Note:			Consumer & Insurance financial information is presented on a Segment Accounting Basis. Delinquency ratios are calculated as a percentage of C&I personal loan net finance receivables. Amounts may not sum due to rounding.

Defined Terms

•Adjusted capital = adjusted tangible common equity + allowance for finance receivable losses (ALLL), net of tax

•Adjusted tangible common equity (TCE) = total shareholders’ equity – goodwill – other intangible assets + junior subordinated debt

•Auto finance = financing at the point of purchase through a network of auto dealerships

•Available cash and cash equivalents = cash and cash equivalents – cash and cash equivalents held at our regulated insurance subsidiaries or is unavailable for general corporate purposes

•Average assets = average of monthly average assets (assets at the beginning and end of each month divided by two) in the period

•Average managed receivables = C&I average net receivables + average receivables serviced for our whole loan sale partners

•C&I adjusted diluted EPS = C&I adjusted net income (non-GAAP) / weighted average diluted shares

•Capital generation = C&I adjusted net income – change in C&I allowance for finance receivable losses, net of tax

•Capital generation return on receivables(1) = annualized capital generation / C&I average net receivables

•Consumer loans = personal loans and auto finance

•Finance receivables serviced for our whole loan sale partners = unpaid principal balance plus accrued interest of loans sold as part of our whole loan sale program

•Gross charge-off ratio(1) = annualized gross charge-offs / average net receivables

•Managed receivables = C&I net finance receivables + finance receivables serviced for our whole loan sale partners + auto finance loans originated by third parties

•Net adjusted debt = long-term debt – junior subordinated debt – available cash and cash equivalents

•Net charge-off ratio(1) = annualized net charge-offs / average net receivables

•Net leverage = net adjusted debt / adjusted capital

•Opex ratio = annualized C&I operating expenses / average managed receivables

•Other net revenue = other revenues – insurance policy benefits and claims expense

•Personal loans = loans secured by titled collateral or unsecured and offered through our branch network, central operations, or digital platform

•Pretax capital generation = C&I pretax adjusted net income – change in C&I allowance for finance receivable losses

•Purchase volume = credit card purchase transactions + cash advances – returns

•Return on assets (ROA) = annualized net income / average total assets

•Return on receivables (C&I ROR) = annualized C&I adjusted net income / C&I average net receivables

•Total Revenue = C&I interest income + C&I total other revenue

•Unencumbered receivables = unpaid principal balance of 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

(1)

2Q24 adjusted for policy alignment associated with the Foursight acquisition.

OneMain Holdings, Inc.

Investor Contact:

Peter R. Poillon, 212-359-2432

Peter.Poillon@omf.com

Media Contact:

Kelly Ogburn, 410-537-9028

Kelly.Ogburn@omf.com

Source: OneMain Holdings, Inc.