Company: CPSS
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001683168-25-001548
Chunk: 1123

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 6
Chunk 1123
---
 income 
    $363,962  
    $329,219  
    $305,237 

The following table presents the components of
interest expense:

    Schedule of interest expense 

    Year Ended December 31, 

    2024  
    2023  
    2022 

    (In thousands) 
  
    Securitization trust debt 
    $161,014  
    $121,409  
    $70,627 
  
    Warehouse lines of credit 
     19,292  
     19,192  
     10,310 
  
    Residual interest financing 
     8,702  
     4,199  
     4,243 
  
    Subordinated renewable notes 
     2,249  
     1,831  
     2,344 
  
    Interest expense 
    $191,257  
    $146,631  
    $87,524 

(9) Income Taxes 

Income taxes consist of the following:

    Schedule of income taxes expenses 

    Year Ended December 31, 

    2024  
    2023  
    2022 

    (In thousands) 
  
    Current federal tax expense 
    $4,376  
    $7,122  
    $16,946 
  
    Current state tax expense 
     1,807  
     2,613  
     3,352 
  
    Deferred federal tax expense 
     1,382  
     4,307  
     5,573 
  
    Deferred state tax expense 
     663  
     1,712  
     4,339 

    Income tax expense 
    $8,228  
    $15,754  
    $30,210 

     F-27 

CONSUMER PORTFOLIO SERVICES, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Income tax expense for the
years ended December 31, 2024, 2023 and 2022 differs from the amount determined by applying the statutory federal rate to income before
income taxes as follows:

    Schedule of reconciliation of income taxes 

    Year Ended December 31, 

    2024  
    2023  
    2022