OneMain Holdings, Inc.OMF
OneMain Holdings, Inc. Segments Disclosure
| 18. Segment Information | ||
At December 31, 2025, 2024, and 2023, Consumer and Insurance (“C&I”) was our only reportable segment. The remaining components (which we refer to as “Other”) consist of our liquidating SpringCastle Portfolio servicing activity and our non-originating legacy operations, which primarily include our liquidating real estate loans.
The accounting policies of the C&I segment are the same as those disclosed in Note 2, except as described below.
We report the operating results of C&I and Other using the Segment Accounting Basis, which (i) reflects our allocation methodologies for interest expense and operating costs, and (ii) excludes the impact of applying purchase accounting.
We allocate revenues and expenses on a Segment Accounting Basis to the C&I segment and Other using the following methodologies:
| Interest income | Directly correlated to C&I segment and Other. | ||||
| Interest expense | C&I and Other - The Company has secured and unsecured debt. The Company first allocates interest expense to its C&I segment based on actual expense for secured debt. Interest expense for unsecured debt is recorded to the C&I segment using a weighted average interest rate applied to allocated average unsecured debt. | ||||
| Total average unsecured debt is allocated as follows: | |||||
l Other - at 100% of asset base. (Asset base represents the average net finance receivables including finance receivables held for sale); and | |||||
l C&I - receives remainder of unallocated average debt. | |||||
Provision for finance receivable losses | Directly correlated to the C&I segment. | ||||
| Other revenues | Directly correlated to the C&I segment and Other. | ||||
Other expenses | Salaries and benefits - Directly correlated to C&I segment and Other. Other salaries and benefits not directly correlated with the C&I segment and Other are allocated based on services provided. | ||||
Other operating expenses - Directly correlated to the C&I segment and Other. Other operating expenses not directly correlated to the C&I segment and Other are allocated based on services provided. | |||||
Insurance policy benefits and claims - Directly correlated to the C&I segment. | |||||
Acquisition-related transaction and integration expenses - Directly correlated to the C&I segment and consist primarily of: (i) acquisition-related transaction and integration costs related to the Foursight Acquisition, including legal and other professional fees and (ii) software termination costs. | |||||
The "Segment to GAAP Adjustment” column in the following tables primarily consists of:
•Interest income - reverses the impact of premiums/discounts on certain purchased finance receivables and the interest income recognition under guidance in ASC 310-20, Nonrefundable Fees and Other Costs, and reestablishes interest income recognition on a historical cost basis;
•Interest expense - reverses the impact of premiums/discounts on acquired long-term debt and reestablishes interest expense recognition on a historical cost basis;
•Provision for finance receivable losses - reverses the impact of providing an allowance for finance receivable losses upon acquisition and reestablishes the allowance on a historical cost basis; and
•Other expenses - reestablishes expenses on a historical cost basis by reversing the impact of amortization from acquired intangible assets, including amortization of other historical deferred costs and the amortization of purchased software assets on a historical cost basis.
The assets in the “Segment to GAAP Adjustment” column primarily represent goodwill and intangible assets acquired.
We have identified the following significant segment expenses: Interest expense, Provision for finance receivable losses, Salaries and benefits expense, Other operating expenses, and Insurance policy benefits and claims expense. Based on our identified significant segment expenses, there are no other segment items.
Our chief operating decision maker (“CODM”) is our Chief Executive Officer (“CEO”). The CODM uses Income (loss) before income tax expense (benefit) to assess the performance of the C&I segment, allocate resources, and make strategic operating decisions.
The following tables present information about C&I and Other, as well as reconciliations to the consolidated financial statement amounts.
| (dollars in millions) | Consumer and Insurance | Other | Segment to GAAP Adjustment | Consolidated Total | ||||||||||||||||||||||
| At or for the Year Ended December 31, 2025 | ||||||||||||||||||||||||||
| Interest income | $ | 5,432 | $ | 3 | $ | 20 | $ | 5,455 | ||||||||||||||||||
| Interest expense | 1,270 | 1 | 1 | 1,272 | ||||||||||||||||||||||
Provision for finance receivable losses | 1,999 | — | (2) | 1,997 | ||||||||||||||||||||||
Net interest income after provision for finance receivable losses | 2,163 | 2 | 21 | 2,186 | ||||||||||||||||||||||
| Other revenues | 715 | 7 | (2) | 720 | ||||||||||||||||||||||
Salaries and benefits | 918 | 5 | — | 923 | ||||||||||||||||||||||
Other operating expenses | 774 | 8 | 2 | 784 | ||||||||||||||||||||||
Insurance policy benefits and claims | 198 | — | — | 198 | ||||||||||||||||||||||
Income (loss) before income tax expense (benefit) | $ | 988 | $ | (4) | $ | 17 | $ | 1,001 | ||||||||||||||||||
| Assets | $ | 26,240 | $ | 7 | $ | 1,141 | $ | 27,388 | ||||||||||||||||||
| At or for the Year Ended December 31, 2024 | ||||||||||||||||||||||||||
| Interest income | $ | 4,965 | $ | 3 | $ | 25 | $ | 4,993 | ||||||||||||||||||
| Interest expense | 1,181 | 1 | 3 | 1,185 | ||||||||||||||||||||||
Provision for finance receivable losses | 1,981 | — | 59 | 2,040 | ||||||||||||||||||||||
Net interest income after provision for finance receivable losses | 1,803 | 2 | (37) | 1,768 | ||||||||||||||||||||||
| Other revenues | 689 | 7 | (1) | 695 | ||||||||||||||||||||||
Salaries and benefits | 875 | 4 | — | 879 | ||||||||||||||||||||||
Other operating expenses | 721 | 6 | 1 | 728 | ||||||||||||||||||||||
Insurance policy benefits and claims | 189 | — | — | 189 | ||||||||||||||||||||||
Income (loss) before income tax expense (benefit) | $ | 707 | $ | (1) | $ | (39) | $ | 667 | ||||||||||||||||||
| Assets | $ | 24,774 | $ | 12 | $ | 1,124 | $ | 25,910 | ||||||||||||||||||
| At or for the Year Ended December 31, 2023 | ||||||||||||||||||||||||||
| Interest income | $ | 4,559 | $ | 4 | $ | 1 | $ | 4,564 | ||||||||||||||||||
| Interest expense | 1,015 | 2 | 2 | 1,019 | ||||||||||||||||||||||
| Provision for finance receivables losses | 1,721 | — | — | 1,721 | ||||||||||||||||||||||
| Net interest income after provision for finance receivable losses | 1,823 | 2 | (1) | 1,824 | ||||||||||||||||||||||
| Other revenues | 727 | 8 | — | 735 | ||||||||||||||||||||||
Salaries and benefits | 848 | 7 | — | 855 | ||||||||||||||||||||||
Other operating expenses | 668 | 9 | (2) | 675 | ||||||||||||||||||||||
Insurance policy benefits and claims | 189 | — | — | 189 | ||||||||||||||||||||||
| Income (loss) before income tax expense (benefit) | $ | 845 | $ | (6) | $ | 1 | $ | 840 | ||||||||||||||||||
| Assets | $ | 23,056 | $ | 20 | $ | 1,218 | $ | 24,294 | ||||||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 6, 2026 | Showing above |
| 2024 | Feb 7, 2025 | |
| 2023 | Feb 13, 2024 | |
| 2022 | Feb 10, 2023 | |
| 2021 | Feb 11, 2022 | |
| 2020 | Feb 9, 2021 | |
| 2019 | Feb 14, 2020 | |
| 2018 | Feb 15, 2019 | |
| 2017 | Feb 21, 2018 | |
| 2016 | Feb 21, 2017 | |
| 2015 | Feb 29, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.