XML 34 R25.htm IDEA: XBRL DOCUMENT
v3.23.3

Fair Value Measurements (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2023
Fair Value Disclosures [Abstract] |
Schedule of reconciliation of the finance receivables measured at fair value on a recurring basis |
Schedule of reconciliation of the finance receivables measured at fair value on a recurring basis |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
|  | (In thousands) |  |  | (In thousands) |
Balance at beginning of period |  | $ | 2,618,420 |  |  | $ | 2,174,133 |  |  | $ | 2,476,617 |  |  | $ | 1,749,098 |
Finance receivables at fair value acquired during period |  |  | 300,539 |  |  |  | 407,260 |  |  |  | 958,587 |  |  |  | 1,311,735 |
Payments received on finance receivables at fair value |  |  | (203,775 | ) |  |  | (209,627 | ) |  |  | (625,715 | ) |  |  | (635,401 | )
Net interest income accretion on fair value receivables |  |  | (49,644 | ) |  |  | (36,696 | ) |  |  | (143,949 | ) |  |  | (97,462 | )
Mark to fair value |  |  | 6,000 |  |  |  | 8,183 |  |  |  | 6,000 |  |  |  | 15,283 |
Balance at end of period |  | $ | 2,671,540 |  |  | $ | 2,343,253 |  |  | $ | 2,671,540 |  |  | $ | 2,343,253 |
Schedule of finance receivables fair and contractual balances |
Schedule of finance receivables fair and contractual balances |  |  |  |  |  |  |  |  |  |  |  |
|  | September 30, 2023 |  |  | December 31, 2022 |
|  | Contractual |  |  | Fair |  |  | Contractual |  |  | Fair |
|  | Balance |  |  | Value |  |  | Balance |  |  | Value |
|  | (In thousands) |
Finance receivables measured at fair value. |  | $ | 2,904,235 |  |  | $ | 2,671,540 |  |  | $ | 2,701,184 |  |  | $ | 2,476,617 |
Schedule of level 3 fair value measurements |
Schedule of level 3 fair value measurements |  |  |  |  |  |  |  |  |  |  |  |
Financial Instrument |  | Fair Values as of |  |  |  |  | Inputs as of
|  | September 30, |  |  | December 31, |  |  |  |  | September 30, |  | December 31,
|  | 2023 |  |  | 2022 |  |  | Unobservable Inputs |  | 2023 |  | 2022
|  | (In thousands) |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Finance receivables measured at fair value |  | $ | 2,671,540 |  |  | $ | 2,476,617 |  |  | Discount rate |  | 11.0% - 11.7% |  | 11.0% - 11.3%
|  |  |  |  |  |  |  |  |  | Cumulative net losses |  | 10.0% - 21.7% |  | 13.4% - 19.4%
Schedule of delinquency status of finance receivables measured at fair value |
Schedule of delinquency status of finance receivables measured at fair value |  |  |  |  |  |  |  |
|  | September 30, |  |  | December 31, |
|  | 2023 |  |  | 2022 |
|  | (In thousands) |
Delinquency Status |  |  |  |  |  |  |  |
Current |  | $ | 2,525,830 |  |  | $ | 2,375,271 |
31 - 60 days |  |  | 192,735 |  |  |  | 184,968 |
61 - 90 days |  |  | 90,847 |  |  |  | 72,390 |
91 + days |  |  | 49,337 |  |  |  | 29,048 |
Repo |  |  | 45,486 |  |  |  | 39,507 |
|  | $ | 2,904,235 |  |  | $ | 2,701,184 |
Schedule of estimated fair values of financial assets and liabilities |
Schedule of estimated fair values of financial assets and liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | As of September 30, 2023 |
Financial Instrument |  | (In thousands) |
|  | Carrying |  |  | Fair Value Measurements Using: |  |  |  |
|  | Value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 8,306 |  |  | $ | 8,306 |  |  | $ | – |  |  | $ | – |  |  | $ | 8,306 |
Restricted cash and equivalents |  |  | 133,787 |  |  |  | 133,787 |  |  |  | – |  |  |  | – |  |  |  | 133,787 |
Finance receivables, net |  |  | 34,265 |  |  |  | – |  |  |  | – |  |  |  | 25,171 |  |  |  | 25,171 |
Accrued interest receivable |  |  | 284 |  |  |  | – |  |  |  | – |  |  |  | 284 |  |  |  | 284 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Warehouse lines of credit |  | $ | 240,384 |  |  | $ | – |  |  | $ | – |  |  | $ | 240,384 |  |  | $ | 240,384 |
Residual interest financing |  |  | 49,812 |  |  |  |  |  |  |  |  |  |  |  | 49,812 |  |  |  | 49,812 |
Accrued interest payable |  |  | 7,468 |  |  |  | – |  |  |  | – |  |  |  | 7,468 |  |  |  | 7,468 |
Securitization trust debt |  |  | 2,243,284 |  |  |  | – |  |  |  | – |  |  |  | 2,134,496 |  |  |  | 2,134,496 |
Subordinated renewable notes |  |  | 19,163 |  |  |  | – |  |  |  | – |  |  |  | 19,163 |  |  |  | 19,163 |
|  | As of December 31, 2022 |
Financial Instrument |  | (In thousands) |
|  | Carrying |  |  | Fair Value Measurements Using: |  |  |  |
|  | Value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 13,490 |  |  | $ | 13,490 |  |  | $ | – |  |  | $ | – |  |  | $ | 13,490 |
Restricted cash and equivalents |  |  | 149,299 |  |  |  | 149,299 |  |  |  | – |  |  |  | – |  |  |  | 149,299 |
Finance receivables, net |  |  | 70,551 |  |  |  | – |  |  |  | – |  |  |  | 60,063 |  |  |  | 60,063 |
Accrued interest receivable |  |  | 649 |  |  |  | – |  |  |  | – |  |  |  | 649 |  |  |  | 649 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Warehouse lines of credit |  | $ | 285,328 |  |  | $ | – |  |  | $ | – |  |  | $ | 285,328 |  |  | $ | 285,328 |
Accrued interest payable |  |  | 6,190 |  |  |  | – |  |  |  | – |  |  |  | 6,190 |  |  |  | 6,190 |
Securitization trust debt |  |  | 2,108,744 |  |  |  | – |  |  |  | – |  |  |  | 1,957,995 |  |  |  | 1,957,995 |
Subordinated renewable notes |  |  | 25,263 |  |  |  | – |  |  |  | – |  |  |  | 25,263 |  |  |  | 25,263 |

X
- References No definition available. + Details
Name: | cpss_ScheduleOfDelinquencyStatusOfFinanceReceivablesMeasuredAtFairValueTableTextBlock
Namespace Prefix: | cpss_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | cpss_ScheduleOfFinanceReceivablesToTheirContractualBalancesTableTextBlock
Namespace Prefix: | cpss_
Data Type: | dtr-types: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 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-3 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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 -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-11 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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 -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d)(iv)(02) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfEffectOfSignificantUnobservableInputsChangesInPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration