Company: CPSS
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001683168-25-001548
Chunk: 764

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 3
Chunk 764
---
    $21,753 

The following table presents
the gross charge-offs by year of origination of our finance receivables for the year ended December 31, 2024, 2023, and 2022:

    Schedule of charge-offs for financed receivables 

    December 31, 

    2024  
    2023  
    2022 
  
    Annual Vintage Pool 
    (In thousands) 
  
    2014 and prior 
    $353 
    $325  
    $963 
  
    2015 
     285  
     1,031  
     3,047 
  
    2016 
     703  
     3,266  
     6,586 
  
    2017 
     976  
     4,294  
     8,271 
  
    Applied against repos in inventory (net) 
     (471) 
     (852) 
     (548)

    $1,846 
    $8,064  
    $18,319 

(4) Furniture and Equipment

The following table presents the components of
furniture and equipment:

    Schedule of furniture and equipment 

    December 31, 

    2024  
    2023 

    (In thousands) 
  
    Furniture and fixtures 
    $2,083  
    $1,936 
  
    Computer and telephone equipment 
     6,942  
     6,823 
  
    Leasehold improvements 
     1,638  
     1,570 

     10,663  
     10,329 
  
    Less: accumulated depreciation and amortization 
     (9,720) 
     (8,957)

    $943  
    $1,372 

     F-19 

CONSUMER PORTFOLIO SERVICES, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Depreciation expense totaled $862,000, $847,000,
and $1,618,000 for the years ended December 31, 2024, 2023 and 2022, respectively.

(5) Securitization Trust Debt

We have completed numerous
term securitization transactions that are structured as secured borrowings for financial accounting purposes.