Company: CPSS
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001683168-25-001548
Chunk: 1104

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 6
Chunk 1104
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    Numerator for basic and diluted earnings per share 
    $19,203  
    $45,343  
    $85,983 
  
    Denominator: 

    Denominator for basic earnings per share - weighted average number of common shares outstanding during the year 
     21,292  
     20,896  
     20,958 
  
    Incremental common shares attributable to exercise of outstanding options and warrants 
     3,033  
     4,322  
     3,218 
  
    Denominator for diluted earnings per share 
     24,325  
     25,218  
     26,589 
  
    Basic earnings per share 
    $0.90  
    $2.17  
    $4.10 
  
    Diluted earnings per share 
    $0.79  
    $1.80  
    $3.23 

Incremental shares of 1.7
million, 1.7 million and 1.2 million related to stock options and warrants have been excluded from the diluted earnings per share calculation
for the years ended December 31, 2024, 2023 and 2022, respectively, because the effect is anti-dilutive.

Deferral and Amortization of Debt Issuance Costs

Costs related to the issuance
of debt are deferred and amortized using the interest method over the contractual or expected term of the related debt. Unamortized debt
issuance costs are presented as a direct deduction to the carrying amount of the related debt on our Consolidated Balance Sheets.

Income Taxes

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 recovered or settled. The effect on deferred taxes of a change in tax rates is recognized in
income in the period that includes the enactment date. We estimate a valuation allowance against that portion of the deferred tax asset
whose utilization in future periods is not more than likely.

     F-14 

CONSUMER