Company: CPSS
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001683168-25-003436
Chunk: 120

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 120
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per share for the three-month periods ended March 31, 2025, and 2024:

    Schedule of earnings per share 

    Three Months Ended 

    March 31, 

    2025  
    2024 

    (In thousands) 
  
    Weighted average number of common shares outstanding during the period used to compute basic earnings per share 
     21,444  
     21,143 
  
    Incremental common shares attributable to exercise of outstanding options and warrants 
     2,881  
     3,459 
  
    Weighted average number of common shares used to compute diluted earnings per share 
     24,325  
     24,602 

If the anti-dilutive
effects of common stock equivalents were considered, shares included in the diluted earnings per share calculation for the three
months ended March 31, 2025, would have included an additional 1.4
million shares attributable to the exercise of outstanding options and warrants. For the three
months ended March 31, 2024, 1.7
million shares, would be included in the diluted earnings per share calculation.

     20 

CONSUMER PORTFOLIO SERVICES, INC. AND SUBSIDIARIES

NOTES TO UNAUDITED CONDENSED CONSOLIDATED
FINANCIAL STATEMENTS

(7) Income Taxes 

We file numerous consolidated
and separate income tax returns with the United States and with many states. With few exceptions, we are no longer subject to U.S. federal,
state, or local examinations by tax authorities for years before 2015.

As of March 31, 2025, and
December 31, 2024, we had no unrecognized tax benefits for uncertain tax positions. We do not anticipate that total unrecognized tax benefits
will significantly change due to any settlements of audits or expirations of statutes of limitations over the next 12 months.

The Company and its subsidiaries
file a consolidated federal income tax return and combined or stand-alone state franchise tax returns for certain states. We utilize the
asset and liability method of accounting for income taxes, under which deferred income taxes are recognized for the future tax consequences
attributable to the differences between the financial statement values of existing assets and liabilities and their respective tax bases.
Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those
temporary differences are expected to be