$OMF

Springleaf Holdings, Inc.

CIK:0001584207|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Interest income	$ 1,417	$ 1,339	$ 2,804	$ 2,648
Interest expense	326	317	649	629
Net interest income	1,091	1,022	2,155	2,019
Provision for finance receivable losses	610	511	1,074	967
Net interest income after provision for finance receivable losses	481	511	1,081	1,052
Other revenues:
Insurance	112	111	224	220
Investment	25	24	48	50
Gain on sales of finance receivables	16	17	32	33
Net loss on repurchases and repayments of debt	(1)	(21)	(4)	(26)
Other	55	45	104	87
Total other revenues	207	176	404	364
Other expenses:
Salaries and benefits	243	230	483	448
Other operating expenses	205	189	414	376
Insurance policy benefits and claims	44	54	96	103
Total other expenses	492	473	993	927
Income before income taxes	196	214	492	489
Income taxes	44	47	114	109
Net income	$ 152	$ 167	$ 378	$ 380
Weighted average number of shares outstanding:
Basic (in shares)	115,342,204	118,953,510	116,033,457	119,176,259
Diluted (in shares)	115,755,259	119,392,819	116,513,932	119,681,266
Earnings per share:
Basic (in dollars per share)	$ 1.32	$ 1.40	$ 3.26	$ 3.19
Diluted (in dollars per share)	$ 1.32	$ 1.40	$ 3.25	$ 3.18

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net income	$ 152	$ 167	$ 378	$ 380
Reconciling adjustments:
Provision for finance receivable losses	610	511	1,074	967
Depreciation and amortization			150	142
Deferred income tax charge (benefit)			7	(5)
Net loss on repurchases and repayments of debt	1	21	4	26
Share-based compensation expense, net of forfeitures			20	21
Gain on sales of finance receivables	(16)	(17)	(32)	(33)
Other			(6)	(1)
Cash flows due to changes in other assets and other liabilities			(56)	(58)
Net cash provided by operating activities			1,539	1,439
Cash flows from investing activities
Net principal originations and purchases of finance receivables			(2,112)	(1,826)
Proceeds from sales of finance receivables			736	553
Available-for-sale securities purchased			(214)	(200)
Available-for-sale securities called, sold, and matured			143	165
Other securities purchased			(9)	(3)
Other securities called, sold, and matured			11	12
Other, net			(44)	(45)
Net cash used for investing activities			(1,489)	(1,344)
Cash flows from financing activities
Proceeds from issuance and borrowings of long-term debt, net of issuance costs			2,865	4,069
Repayments and repurchases of long-term debt			(2,817)	(3,499)
Cash dividends			(250)	(251)
Common stock repurchased			(139)	(37)
Treasury stock issued			2	2
Withholding tax on share-based compensation			(19)	(10)
Net cash provided by (used for) financing activities			(358)	274
Net change in cash and cash equivalents and restricted cash and restricted cash equivalents			(308)	369
Cash and cash equivalents and restricted cash and restricted cash equivalents at beginning of period			1,613	1,142
Cash and cash equivalents and restricted cash and restricted cash equivalents at end of period	1,305	1,511	1,305	1,511
Supplemental cash flow information
Cash and cash equivalents	567	769	567	769
Restricted cash and restricted cash equivalents	738	742	738	742
Total cash and cash equivalents and restricted cash and restricted cash equivalents	$ 1,305	$ 1,511	$ 1,305	$ 1,511

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Assets
Cash and cash equivalents	$ 567	$ 914
Investment securities (includes available-for-sale securities with a fair value and an amortized cost basis of $1.6 billion and $1.7 billion in 2026, respectively, and $1.5 billion and $1.6 billion in 2025, respectively)	1,649	1,590
Net finance receivables (includes loans of consolidated VIEs of $14.1 billion in 2026 and $13.4 billion in 2025)	25,145	24,833
Unearned insurance premium and claim reserves	(792)	(791)
Allowance for finance receivable losses (includes allowance of consolidated VIEs of $1.6 billion in 2026 and $1.6 billion in 2025)	(2,923)	(2,865)
Net finance receivables, less unearned insurance premium and claim reserves and allowance for finance receivable losses	21,430	21,177
Restricted cash and restricted cash equivalents (includes restricted cash and restricted cash equivalents of consolidated VIEs of $724 million in 2026 and $690 million in 2025)	738	699
Goodwill	1,474	1,474
Other intangible assets	279	282
Other assets	1,287	1,252
Total assets	27,424	27,388
Liabilities and Shareholders’ Equity
Long-term debt (includes debt of consolidated VIEs of $12.0 billion in 2026 and $11.5 billion in 2025)	22,769	22,694
Insurance claims and policyholder liabilities	552	576
Deferred and accrued taxes	16	35
Other liabilities (includes other liabilities of consolidated VIEs of $31 million in 2026 and $30 million in 2025)	704	682
Total liabilities	24,041	23,987
Contingencies (Note 12)
Shareholders’ equity:
Common stock, par value $0.01 per share; 2,000,000,000 shares authorized, 115,082,807 and 117,196,792 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	1	1
Additional paid-in capital	1,758	1,757
Accumulated other comprehensive loss	(54)	(41)
Retained earnings	2,710	2,579
Treasury stock, at cost; 20,954,574 and 18,514,904 shares at June 30, 2026 and December 31, 2025, respectively	(1,032)	(895)
Total shareholders’ equity	3,383	3,401
Total liabilities and shareholders’ equity	$ 27,424	$ 27,388