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OneMain Holdings Inc. (OMF+2.36%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing reports total assets of $25.91 billion, with net finance receivables of $23.55 billion. The company’s long-term debt stands at $21.44 billion.
OneMain reported interest income of $4.99 billion and interest expense of $1.19 billion for the year. The provision for finance receivable losses was $2.04 billion, resulting in net interest income after provision for losses of $1.77 billion.
Other revenues amounted to $695 million, while other expenses totaled $1.80 billion, leading to an income before taxes of $667 million.
Net income for the year was $509 million, with diluted earnings per share reported at $4.24.
The company’s allowance for finance receivable losses was $2.71 billion, reflecting an increase due to growth in receivables and the impact of the Foursight Acquisition.
OneMain completed the acquisition of Foursight Capital LLC on April 1, 2024, for $125 million. The acquisition supports OneMain’s expansion into the auto lending business.
The company issued $2.4 billion in senior notes during the year and redeemed $1 billion of its 6.875% Senior Notes due 2025.
The aggregate market value of OneMain Holdings, Inc.'s common equity held by non-affiliates was $5.53 billion as of June 30, 2024.
OneMain paid $494 million in dividends to its common stockholders in 2024, with a quarterly dividend of $1.04 per share.
The company has identified macroeconomic conditions, including unemployment rates and inflation, as key factors affecting its financial performance and credit losses.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the OneMain Holdings Inc. annual 10-K report dated February 7, 2025. To report an error, please email earnings@qz.com.