Document

EX-99.1 2 exhibit991earningsreleaseo.htm EX-99.1 Document


第99.1展示文本

ONEMAIN HOLDINGS, INC.报告2024年第三季度业绩

–2024年第三季度摊薄后每股收益为1.31美元

–2024年第三季度调整后的摊薄每股收益为1.26美元

–2024年第三季度，管理的应收账款为243亿美元。

–宣布每股季度股息为1.04美元

–第三季度以1900万美元回购了42万股。

纽约，纽约， 2024年10月30日 - OneMain Holdings，Inc.（纽交所：OMF），作为向次级消费者提供负责任信贷准入的领先者，今日报告2024年第三季度的税前收入为20700万美元，净利润为15700万美元，分别较去年同期的24600万美元和19400万美元有所下降。每股摊薄收益为2024年第三季度的1.31美元，而去年同期为1.61美元。

2024年10月30日，OneMain宣布每股支付$1.04的季度股息，股东记录日期为2024年11月12日的晚市收盘后，将于2024年11月18日支付给公司普通股股东。

2024年10月16日，董事会将股份回购计划延长至2026年12月31日。在本季度，公司回购了约42万股普通股，金额为1900万美元。

onemain在本季度表现出色，原始贷款和营业收入均实现强劲增长，并持续改善信贷趋势，如onemain的董事长兼首席执行官Doug Shulman所说。我们在科技、数据科学和新产品方面的投资使我们能够在现在和未来推动股东价值。

以下部分结果以非通用会计原则基础报告。请参考本新闻稿末尾对非通用会计原则与可比通用会计原则的调解。

消费者和保险部门（"C＆I"）

2024年第三季度，C&I调整税前收入为20200万美元，调整后的净利润为15100万美元，与上一年同季度分别为25200万美元和18900万美元。调整后的每股摊薄收益为1.26美元，较上一年同季度的1.57美元。

管理层根据C&I资本生成来经营业务，将其定义为不包括税后C&I财务应收损失减值变化的C&I调整净利润，同时考虑当前期C&I净核销。2024年第三季度C&I资本生成为21100万美元，较上年同期的23200万美元下滑。主要原因是高净核销，部分抵消了当季与去年同期相比组合增长带来的营业收入增加。

管理的应收账款，包括为我们的整体贷款销售合作伙伴提供服务的贷款和第三方机构发放的汽车金融贷款，在2024年9月30日达到243亿美元，较2023年9月30日的219亿美元增长11%。

2024年第三季度，消费贷款发放总额达37亿美元，比上一年同期的33亿美元增长13%。

2024年第二季度的总营业收入，包括利息收入和总其他收入，为15亿美元，比前年同期的13亿美元增长8%。2024年第三季度的利息收入为13亿美元，比上年同期的12亿美元增长9%。这种增长是由较高的平均净金融应收款驱动的。

2024年第三季度利息费用为29900万美元，比去年同期的26500万美元增加了13%，主要是由于平均负债增加以支持应收账款增长和资金平均成本较高。

2024年第三季度财务应收账款损失准备为51200万美元，比去年同期增加了10200万美元。2024年第三季度，由于应收账款增长，财务应收账款损失准备增加了8000万美元。




C&I选择逾期和损失比率	2024年9月30日		2024年6月30日		2023年9月30日






消费贷款：
30+天逾期比率	5.63	%	5.45	%	5.55	%
90+天逾期比率	2.49	%	2.33	%	2.57	%
30-89天逾期比率	3.14	%	3.13	%	2.98	%

净核销额	7.33	%	8.29	%	6.68	%

2024年第三季度的营业费用为39600万美元，比去年同期的37300万美元增长了6%，反映出对业务的持续投资以及引入Foursight，部分抵消了专注的费用优化举措。

融资与流动性

截至2024年9月30日，公司拥有未偿还的本金债务余额为214亿美元，其中59%已获担保。公司持有现金及现金等价物577百万美元，包括26600万美元的现金及现金等价物，存放在受监管的保险子公司或用于其他经营活动，不可用于一般公司用途。

现金及现金等价物，连同公司未使用的11亿美元的无担保企业循环信贷额度、70亿美元的未使用的循环流通设施和信用卡变量资金票据设施，以及90亿美元的无担保应收款项，提供了重要的流动性资源。

电话会议和网络广播信息

OneMain管理层将于2024年10月30日星期三上午9:00（美国东部时间）举行电话会议和网络直播，讨论公司的业绩、展望以及相关事项。电话会议和网络直播对所有社会公众开放。社会公众可通过拨打800-343-1703（美国国内）或785-424-1116（国际），并使用会议ID 14920来收听电话会议，或通过OneMain Financial网站的投资者关系页面上的现场音频网络直播http://investor.onemainfinancial.com收听。对于无法收听现场播送的人士，活动结束后可在我们的网站上提供重播。投资者演示将在电话会议开始前的OneMain Financial网站的投资者关系页面上提供。

关于OneMain Holdings, Inc.

onemain金融（纽交所：OMF）是在为次级消费者提供负责任的信贷途径方面的领导者，致力于改善勤劳的美国人的财务健康。我们赋予我们的客户解决当今问题并通过1,300个分布在44个州的门店和在线提供的个性化解决方案实现更好的财务未来。OneMain致力于对我们服务的人群和社区产生积极影响。如需更多信息，请访问www.OneMainFinancial.com。

使用非 GAAP 财务指标

我们报告消费者和保险的运营结果，使用分部会计基础，该基础反映了我们的利息支出和运营成本的分配方法，以反映我们评估业务结果的方式，并排除了购买会计的影响(在收购时消除了我们金融应收账款和长期债务的溢价/折价，以及未来期间的摊销/累积)。消费者和保险调整前税收收入(亏损)，消费者和保险调整后净利润(亏损)，以及每股摊薄调整后的消费者和保险盈利(亏损)是评估我们业务绩效的关键绩效指标。消费者和保险调整前税收收入(亏损)代表按照分部会计基础计算的税前收入(亏损)，并排除了重组费用、收购后债务回购和偿还的净亏损、相关交易和整合费用、监管解决、以及其他项目和战略活动，其中包括与COVID-19相关的直接成本以及与以现金结算的股票奖励相关的费用。我们认为这些非GAAP财务指标有助于评估我们分部的盈利能力。

我们还使用消费及保险的税前资本产生和消费及保险的资本产生，这些是非一般公认会计原则财务指标，作为我们部门的一项关键业绩衡量指标。消费及保险税前资本产生代表了消费及保险的调整税前收入，如上所述，并排除了我们在此期间对消费及保险金融应收款损失的备抵变动，同时仍考虑在此期间产生的消费及保险净核销损失。消费及保险的资本产生代表消费及保险税前资本产生的税后影响。我们相信这些非一般公认会计原则指标对于评估在此期间创造的资本影响公司整体资本充足性是有用的。我们认为公司的储备加上其股本，代表公司的损失吸收能力。

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.