Company: CPSS
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001683168-25-003436
Chunk: 104

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 104
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 Three Months Ended 

    March 31, 

    2025  
    2024 

    (In thousands) 
  
    Origination and servicing fees from third party receivables 
    $1,431  
    $2,144 
  
    Sales tax refunds 
     –  
     289 
  
    Other 
     10  
     23 
  
    Other income for the period 
    $1,441  
    $2,456 

Leases

The Company has operating leases for corporate
offices, equipment, software and hardware. The Company has entered into operating leases for the majority of its real estate locations,
primarily office space. These leases are generally for periods of three to seven years with various renewal options. The depreciable life
of leased assets is limited by the expected lease term. Leases with an initial term of 12 months or less are not recorded on the balance
sheet and the related lease expense is recognized on a straight-line basis over the lease term.

     9 

CONSUMER PORTFOLIO SERVICES, INC. AND SUBSIDIARIES

NOTES TO UNAUDITED CONDENSED CONSOLIDATED
FINANCIAL STATEMENTS

The following table presents
the supplemental balance sheet information related to leases:

    Schedule of supplemental balance sheet information related to leases 

    March 31,  
    December 31, 

    2025  
    2024 

    (In thousands) 
  
    Operating Leases 

    Operating lease right-of-use assets 
    $51,093  
    $51,093 
  
    Less: Accumulated amortization right-of-use assets 
     (32,850) 
     (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)

     $