Document

EX-99.1 2 exhibit991earningsreleaseo.htm EX-99.1 Document


第99.1展示文本

ONEMAIN HOLDINGS, INC.報告2024年第三季度業績

–2024年第三季度攤薄後每股收益爲1.31美元

–2024年第三季度調整後的攤薄每股收益爲1.26美元

–2024年第三季度，管理的應收賬款爲243億美元。

–宣佈每股季度股息爲1.04美元

–第三季度以1900萬美元回購了42萬股。

紐約，紐約， 2024年10月30日 - OneMain Holdings，Inc.（紐交所：OMF），作爲向次級消費者提供負責任信貸准入的領先者，今日報告2024年第三季度的稅前收入爲20700萬美元，淨利潤爲15700萬美元，分別較去年同期的24600萬美元和19400萬美元有所下降。每股攤薄收益爲2024年第三季度的1.31美元，而去年同期爲1.61美元。

2024年10月30日，OneMain宣佈每股支付$1.04的季度股息，股東記錄日期爲2024年11月12日的晚市收盤後，將於2024年11月18日支付給公司普通股股東。

2024年10月16日，董事會將股份回購計劃延長至2026年12月31日。在本季度，公司回購了約42萬股普通股，金額爲1900萬美元。

onemain在本季度表現出色，原始貸款和營業收入均實現強勁增長，並持續改善信貸趨勢，如onemain的董事長兼首席執行官Doug Shulman所說。我們在科技、數據科學和新產品方面的投資使我們能夠在現在和未來推動股東價值。

以下部分結果以非通用會計原則基礎報告。請參考本新聞稿末尾對非通用會計原則與可比通用會計原則的調解。

消費者和保險部門（"C＆I"）

2024年第三季度，C&I調整稅前收入爲20200萬美元，調整後的淨利潤爲15100萬美元，與上一年同季度分別爲25200萬美元和18900萬美元。調整後的每股攤薄收益爲1.26美元，較上一年同季度的1.57美元。

管理層根據C&I資本生成來經營業務，將其定義爲不包括稅後C&I財務應收損失減值變化的C&I調整淨利潤，同時考慮當前期C&I淨覈銷。2024年第三季度C&I資本生成爲21100萬美元，較上年同期的23200萬美元下滑。主要原因是高淨覈銷，部分抵消了當季與去年同期相比組合增長帶來的營業收入增加。

管理的應收賬款，包括爲我們的整體貸款銷售合作伙伴提供服務的貸款和第三方機構發放的汽車金融貸款，在2024年9月30日達到243億美元，較2023年9月30日的219億美元增長11%。

2024年第三季度，消費貸款發放總額達37億美元，比上一年同期的33億美元增長13%。

2024年第二季度的總營業收入，包括利息收入和總其他收入，爲15億美元，比前年同期的13億美元增長8%。2024年第三季度的利息收入爲13億美元，比上年同期的12億美元增長9%。這種增長是由較高的平均淨金融應收款驅動的。

2024年第三季度利息費用爲29900萬美元，比去年同期的26500萬美元增加了13%，主要是由於平均負債增加以支持應收賬款增長和資金平均成本較高。

2024年第三季度財務應收賬款損失準備爲51200萬美元，比去年同期增加了10200萬美元。2024年第三季度，由於應收賬款增長，財務應收賬款損失準備增加了8000萬美元。




C&I選擇逾期和損失比率	2024年9月30日		2024年6月30日		2023年9月30日






消費貸款：
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	%

淨覈銷額	7.33	%	8.29	%	6.68	%

2024年第三季度的營業費用爲39600萬美元，比去年同期的37300萬美元增長了6%，反映出對業務的持續投資以及引入Foursight，部分抵消了專注的費用優化舉措。

融資與流動性

截至2024年9月30日，公司擁有未償還的本金債務餘額爲214億美元，其中59%已獲擔保。公司持有現金及現金等價物577百萬美元，包括26600萬美元的現金及現金等價物，存放在受監管的保險子公司或用於其他經營活動，不可用於一般公司用途。

現金及現金等價物，連同公司未使用的11億美元的無擔保企業循環信貸額度、70億美元的未使用的循環流通設施和信用卡變量資金票據設施，以及90億美元的無擔保應收款項，提供了重要的流動性資源。

電話會議和網絡廣播信息

OneMain管理層將於2024年10月30日星期三上午9:00（美國東部時間）舉行電話會議和網絡直播，討論公司的業績、展望以及相關事項。電話會議和網絡直播對所有社會公衆開放。社會公衆可通過撥打800-343-1703（美國國內）或785-424-1116（國際），並使用會議ID 14920來收聽電話會議，或通過OneMain Financial網站的投資者關係頁面上的現場音頻網絡直播http://investor.onemainfinancial.com收聽。對於無法收聽現場播送的人士，活動結束後可在我們的網站上提供重播。投資者演示將在電話會議開始前的OneMain Financial網站的投資者關係頁面上提供。

關於OneMain Holdings, Inc.

onemain金融（紐交所：OMF）是在爲次級消費者提供負責任的信貸途徑方面的領導者，致力於改善勤勞的美國人的財務健康。我們賦予我們的客戶解決當今問題並通過1,300個分佈在44個州的門店和在線提供的個性化解決方案實現更好的財務未來。OneMain致力於對我們服務的人群和社區產生積極影響。如需更多信息，請訪問www.OneMainFinancial.com。

使用非 GAAP 財務指標

我們報告消費者和保險的運營結果，使用分部會計基礎，該基礎反映了我們的利息支出和運營成本的分配方法，以反映我們評估業務結果的方式，並排除了購買會計的影響(在收購時消除了我們金融應收賬款和長期債務的溢價/折價，以及未來期間的攤銷/累積)。消費者和保險調整前稅收收入(虧損)，消費者和保險調整後淨利潤(虧損)，以及每股攤薄調整後的消費者和保險盈利(虧損)是評估我們業務績效的關鍵績效指標。消費者和保險調整前稅收收入(虧損)代表按照分部會計基礎計算的稅前收入(虧損)，並排除了重組費用、收購後債務回購和償還的淨虧損、相關交易和整合費用、監管解決、以及其他項目和戰略活動，其中包括與COVID-19相關的直接成本以及與以現金結算的股票獎勵相關的費用。我們認爲這些非GAAP財務指標有助於評估我們分部的盈利能力。

我們還使用消費及保險的稅前資本產生和消費及保險的資本產生，這些是非一般公認會計原則財務指標，作為我們部門的一項關鍵業績衡量指標。消費及保險稅前資本產生代表了消費及保險的調整稅前收入，如上所述，並排除了我們在此期間對消費及保險金融應收款損失的備抵變動，同時仍考慮在此期間產生的消費及保險淨核銷損失。消費及保險的資本產生代表消費及保險稅前資本產生的稅後影響。我們相信這些非一般公認會計原則指標對於評估在此期間創造的資本影響公司整體資本充足性是有用的。我們認為公司的儲備加上其股本，代表公司的損失吸收能力。

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.