Segment Information

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Segment Information

13. Segment Information

At September 30, 2023, Consumer and Insurance (“C&I”) is 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 and Note 17 of the Notes to the Consolidated Financial Statements in Part II - Item 8 included in our Annual Report.

The following tables present information about C&I and Other, as well as reconciliations to the condensed consolidated financial statement amounts.

(dollars in millions)	Consumer and Insurance		Other		Segment to GAAP Adjustment		Consolidated Total
Three Months Ended September 30, 2023
Interest income	$	1,166	$	1	$	—	$	1,167
Interest expense	265		1		1		267
Provision for finance receivable losses	410		—		—		410
Net interest income after provision for finance receivable losses	491		—		(1)		490
Other revenues	182		3		—		185
Other expenses	423		7		(1)		429
Income (loss) before income tax expense (benefit)	$	250	$	(4)	$	—	$	246
Three Months Ended September 30, 2022
Interest income	$	1,116	$	2	$	—	$	1,118
Interest expense	221		1		1		223
Provision for finance receivable losses	420		—		1		421
Net interest income after provision for finance receivable losses	475		1		(2)		474
Other revenues	168		3		(1)		170
Other expenses	396		3		(1)		398
Income before income tax expense	$	247	$	1	$	(2)	$	246
Nine Months Ended September 30, 2023
Interest income	$	3,373	$	3	$	1	$	3,377
Interest expense	744		2		3		749
Provision for finance receivable losses	1,275		—		—		1,275
Net interest income after provision for finance receivable losses	1,354		1		(2)		1,353
Other revenues	543		5		—		548
Other expenses	1,273		11		(2)		1,282
Income (loss) before income tax expense (benefit)	$	624	$	(5)	$	—	$	619
Assets	$	22,899	$	30	$	1,217	$	24,146
Nine Months Ended September 30, 2022
Interest income	$	3,308	$	4	$	1	$	3,313
Interest expense	657		2		2		661
Provision for finance receivable losses	995		—		3		998
Net interest income after provision for finance receivable losses	1,656		2		(4)		1,654
Other revenues	451		10		(1)		460
Other expenses	1,182		11		(2)		1,191
Income before income tax expense	$	925	$	1	$	(3)	$	923
Assets	$	20,281	$	40	$	2,020	$	22,341