ONEMAIN HOLDINGS, INC. 2020 ANNUAL REPORT - onemain financial

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ONEMAIN HOLDINGS, INC.
2020 ANNUAL REPORT
FINANCIAL HIGHLIGHTS ($ in millions, except per share amounts)
CONSOLIDATED DATA 2018 2019 2020
OPERATING DATA:
Interest income $3,658 $4,127 $4,368
Interest expense $875 $970 $1,027
Income before income taxes $624 $1,098 $977
Net income $447 $855 $730
EARNINGS PER SHARE:
Basic $3.29 $6.28 $5.42
Diluted $3.29 $6.27 $5.41
Dividend per share $0.00 $3.00 $5.94
BALANCE SHEET DATA:
Total assets $20,090 $22,817 $22,471
Total shareholders' equity $3,799 $4,330 $3,441
SELECT SEGMENT DATA (NON-GAAP) 2018 2019 2020
CONSUMER & INSURANCE ("C&I") OPERATING DATA:
C&I adjusted pretax income1 $905 $1,206 $1,092
C&I adjusted net income2 $688 $916 $819
Per Share Data:
C&I adjusted diluted earnings per share3 $5.06 $6.72 $6.07
C&I NET FINANCE RECEIVABLES4
2018 $16,195
2019 $18,421
2020 $18,091
1 C&I adjusted pretax income, a non-GAAP measure, excludes direct costs associated with COVID-19, net losses resulting from repurchases and repayments of debt, acquisition-related transaction and integration
expenses, net gain on sale of cost method investment, and restructuring charges. See OneMain Holdings, Inc. Annual Report on Form 10-K for year ended December 31, 2020, for reconciliations of income before
income taxes -- Segment Accounting Basis to adjusted pretax income (non-GAAP).
2 C&I adjusted net income, a non-GAAP measure, equals adjusted pretax income adjusted for estimated income taxes (24% statutory tax rate during 2018 and 2019, and 25% statutory tax rate during 2020).
3 C&I adjusted diluted earnings per share is calculated as adjusted net income (non-GAAP) divided by the weighted average number of diluted shares outstanding (136.2 million shares for 2018, 136.3 million shares
for 2019, and 134.9 million shares for 2020).
4 Reflects period end data on a Segment Accounting Basis.
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ONEMAIN ANNUAL REPORT 2020
A MESSAGE FROM DOUG SHULMAN
Dear Shareholders,
Although 2020 was a challenging year, OneMain performed well and the fundamentals of our business
remained strong. We delivered great credit results and robust financial performance, strengthened and
deepened our customer relationships, and continued to position our business to take advantage of growth
opportunities in 2021 and beyond. I am very proud of our team, who pulled together to support and ensure
the safety of our customers, our communities and each other over the course of the COVID-19 pandemic.
More than any other year, 2020 highlighted the importance of focusing on the financial well-being of
our customers. Our team members regularly checked in with customers throughout the year. During Q2
alone, we had conversations with 1.6 million of our 2.3 million customers to understand their financial
situations and extend our support where needed. For customers who experienced economic hardship
due to COVID-19, we provided individualized assistance with their loans, helping approximately 300,000
affected customers with modified loan payments during this challenging time.
We maintained our unwavering commitment to being responsible corporate citizens, supporting our more
than 8,300 team members and the communities in which we operate. We focused on prioritizing the safety
of team members while maintaining our ability to serve customers. We donated more than $1 million to
nonprofit organizations in support of pandemic relief efforts and rolled out other philanthropic initiatives
across the company.
Through all of this, we delivered a strong performance, demonstrating the core strengths of our
business model.
Highlights of our 2020 performance include:
? Customer-focused mission
- We elevated our customer engagement, providing individualized support through an evolving
and dynamic environment.
- We broadened our product offerings to expand access to credit and deepen our existing
customer relationships.
? Industry-leading digital plus branch operating model
- Remained focused on driving innovation for our customers - allowing them to interact with
OneMain through various channels, including digital, phone and in-person, with appropriate
safety measures.
- Our flexibility made it easier for customers to do business with us without coming to a branch.
continued
ONEMAIN ANNUAL REPORT 2020


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