OneMain Holdings, Inc.OMF

OneMain Holdings, Inc. New Standards Disclosure

10-KFiled Feb 6, 20261 min read
ACCOUNTING PRONOUNCEMENTS RECENTLY ADOPTED

Income Taxes

In December of 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires disaggregated information in the rate reconciliation and income taxes paid disclosures.

The amendments in this ASU became effective for the Company beginning with this Annual Report on Form 10-K for the year ended December 31, 2025, and we have adopted using the retrospective transition method. See Note 14 for disclosures reflecting the adoption of ASU 2023-09.

ACCOUNTING PRONOUNCEMENTS TO BE ADOPTED

Expense Disaggregation Disclosures

In December of 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40), which requires disclosure of certain costs and expenses in the notes to the financial statements. The amendments in this ASU will become effective for fiscal years beginning after December 15, 2026, and will be effective for interim periods with fiscal years beginning after December 15, 2027, with early adoption permitted. The amendments should be applied on a prospective basis, with retrospective application allowed. While the standard will not impact our consolidated financial results, we are currently evaluating the impact of the expanded disclosures.

We do not believe that any other accounting pronouncements issued, but not yet effective, are applicable or would have a material impact on our consolidated financial statements or disclosures, if adopted.

Historical Timeline

Fiscal YearFiled
2025Feb 6, 2026Showing above
2024Feb 7, 2025
2023Feb 13, 2024
2022Feb 10, 2023
2021Feb 11, 2022
2020Feb 9, 2021
2019Feb 14, 2020
2018Feb 15, 2019
2017Feb 21, 2018
2016Feb 21, 2017
2015Feb 29, 2016

About New Standards Disclosures

New accounting standards disclosures describe recently adopted pronouncements and those not yet effective, along with management's assessment of their expected impact. This section provides an early warning system for upcoming changes to how a company reports its financial results, often years before the new rules take effect.

Key signals: when management describes a not-yet-adopted standard's impact as "material" or "still being evaluated," it signals potential significant changes to reported metrics upon adoption. Watch for standards that affect a company's core operations — for example, revenue recognition changes for software companies or lease accounting changes for retailers with large store footprints. The transition method chosen (full retrospective versus modified retrospective) affects comparability with prior periods. Companies that delay adoption to the latest permitted date may be struggling with implementation complexity. Compare the disclosed impact assessments against peers in the same industry to gauge whether management's expectations are reasonable.

Other Available Disclosures

Income TaxesEarnings Per ShareFair ValueGoodwill & IntangiblesLeasesSegmentsDebtCommitmentsStock Compensation