Company: CPSS
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001683168-25-003436
Chunk: 8

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 8
---
 
     (31,644)
  
    Operating lease right-of-use assets, net 
    $18,243  
    $19,449 

    Operating lease liabilities 
    $(20,250) 
    $(21,471)

    Finance Leases 
     $  

    Property and equipment, at cost 
    $4,039  
    $3,794 
  
    Less: Accumulated depreciation 
     (3,538) 
     (3,488)
  
    Property and equipment, net 
    $501  
    $306 

     $  

    Finance lease liabilities 
    $(514) 
    $(315)

     $  

    Weighted Average Discount Rate 

    Operating lease 
     5.0%  
     5.0% 
  
    Finance lease 
     6.5%  
     6.5% 

Maturities of lease liabilities were as follows:

    Schedule of maturities of lease liabilities 

    (In thousands) 
    Operating  
    Finance 

    Lease  
    Lease 
  
    Year Ending December 31, 

    2025 (excluding the three months ended March 31, 2025) 
    $3,907  
    $161 
  
    2026 
     5,084  
     207 
  
    2027 
     5,242  
     149 
  
    2028 
     5,408  
     30 
  
    2029 
     3,761  
     10 
  
    Thereafter 
     985  
     – 
  
    Total undiscounted lease payments 
     24,387  
     557 
  
    Less amounts representing interest 
     (4,137) 
     (43)
  
    Lease Liability 
    $20,250  
    $514 

     10 

CONSUMER PORTFOLIO SERVICES, INC. AND SUBSIDIARIES

NOTES TO UNAUDITED CONDENSED CONSOLIDATED
FINANCIAL STATEMENTS

The following table presents
the lease expense included in General and administrative and Occupancy expense on our Unaudited Condensed Consolidated Statement of Operations:

    Schedule of lease cost 

    Three Months Ended 

    March 31, 

    2025