XML 60 R34.htm IDEA: XBRL DOCUMENT v3.20.1

13. Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

Schedule of reconciliation of the finance receivables measured at fair value on a recurring basis

The table below presents a reconciliation of the finance receivables measured at fair value on a recurring basis using significant unobservable inputs:

		Twelve Months Ended
		December 31,
		2019				2018
		(In thousands)
Balance at beginning of period		$	821,066			$	–
Finance receivables at fair value acquired during period			1,004,194				914,949
Payments received on finance receivables at fair value			(292,948	)			(67,720	)
Net interest income accretion on fair value receivables			(90,383	)			(26,163	)
Mark to fair value			2,109				–
Balance at end of period		$	1,444,038			$	821,066

Schedule of finance receivables to their contractual balances

The table below compares the fair values of these finance receivables to their contractual balances for the periods shown:

		December 31, 2019								December 31, 2018
		Contractual				Fair				Contractual				Fair
		Balance				Value				Balance				Value
		(In thousands)
Finance receivables measured at fair value		$	1,492,803			$	1,444,038			$	829,039			$	821,066

Schedule of level 3 fair value measurements

The following table provides certain qualitative information about our level 3 fair value measurements:

Financial Instrument		Fair Values as of										Inputs as of
		December 31,										December 31,
		2019				2018				Unobservable Inputs		2019		2018
		(In thousands)
Assets:
Finance receivables measured at fair value		$	1,444,038			$	821,066			Discount rate		8.9% - 11.1%		8.9% - 9.9%
										Cumulative net losses		15.0% - 16.1%		15% - 16%

Schedule of delinquency status of finance receivables measured at fair value

		December 31,				December 31,
		2019				2018
		(In thousands)
Delinquency Status
Current		$	1,344,883			$	787,707
31 - 60 days			81,262				26,285
61 - 90 days			34,280				8,350
91 + days			15,167				3,677
Repo			17,211				3,020
		$	1,492,803			$	829,039

Schedule of estimated fair values of financial assets and liabilities

The estimated fair values of financial assets and liabilities at December 31, 2019 and 2018, were as follows:

		As of December 31, 2019
Financial Instrument		(In thousands)
		Carrying				Fair Value Measurements Using:
		Value				Level 1				Level 2				Level 3				Total
Assets:
Cash and cash equivalents		$	5,295			$	5,295			$	–			$	–			$	5,295
Restricted cash and equivalents			135,537				135,537				–				–				135,537
Finance receivables, net			885,890				–				–				841,160				841,160
Accrued interest receivable			11,645				–				–				11,645				11,645
Liabilities:
Warehouse lines of credit		$	134,791			$	–			$	–			$	134,791			$	134,791
Accrued interest payable			5,254				–				–				5,254				5,254
Securitization trust debt			2,097,728				–				–				2,116,520				2,116,520
Subordinated renewable notes			17,534				–				–				17,534				17,534

		As of December 31, 2018
Financial Instrument		(In thousands)
		Carrying				Fair Value Measurements Using:
		Value				Level 1				Level 2				Level 3				Total
Assets:
Cash and cash equivalents		$	12,787			$	12,787			$	–			$	–			$	12,787
Restricted cash and equivalents			117,323				117,323				–				–				117,323
Finance receivables, net			1,454,709				–				–				1,434,631				1,434,631
Accrued interest receivable			31,969				–				–				31,969				31,969
Liabilities:
Warehouse lines of credit		$	136,847			$	–				–			$	136,847			$	136,847
Accrued interest payable			4,819				–				–				4,819				4,819
Securitization trust debt			2,063,627				–				–				2,051,920				2,051,920
Subordinated renewable notes			17,290				–				–				17,290				17,290

X

- Definition

Schedule of delinquency status of finance receivables measured at fair value [Table Text Block]

+ References

No definition available.

+ Details

Name:	cpss_ScheduleOfDelinquencyStatusOfFinanceReceivablesMeasuredAtFairValueTableTextBlock
Namespace Prefix:	cpss_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclousre information about finance receivables to their contractual balances [Table Text Block]

+ References

No definition available.

+ Details

Name:	cpss_ScheduleOfFinanceReceivablesToTheirContractualBalancesTableTextBlock
Namespace Prefix:	cpss_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=118260190&loc=d3e13467-108611

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_FairValueDisclosuresAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the effect of fair value measurements using significant unobservable inputs (Level 3) on changes in plan assets of pension plans and/or other employee benefit plans for the period.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(02)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfEffectOfSignificantUnobservableInputsChangesInPlanAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration