Company: CPSS
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001683168-25-003436
Chunk: 23

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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 $35,932 
  
    Warehouse lines of credit 
     6,513  
     4,321 
  
    Residual interest financing 
     2,715  
     1,209 
  
    Subordinated renewable notes 
     646  
     506 
  
    Interest expense 
    $54,918  
    $41,968 

(6) Earnings Per Share

Earnings per share for
the three-month periods ended March 31, 2025, and 2024 were calculated using the weighted average number of shares outstanding
for the related period. The following table reconciles the number of shares used in the computations of basic and diluted earnings
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