When was the date of the most recent actuarial valuation of Petro Stopping Center's principal pension plans?
Petro_Stopping_Center Franchise · 2025 FDDAnswer from 2025 FDD Document
The obligation and cost of providing pension and other post-employment benefits is assessed annually using the projected unit credit method. A valuation of the principal plans is carried out annually. The date of the most recent actuarial valuation was December 31, 2024.
The material financial assumptions used to estimate the benefit obligations of the various plans are set out below. The assumptions are reviewed by management at the end of each year, and are used to evaluate the accrued benefit obligation at December 31 and pension expense for the following year.
Source: Item 14 — Other investments (FDD pages 131–208)
What This Means (2025 FDD)
According to Petro Stopping Center's 2025 Franchise Disclosure Document, the most recent actuarial valuation of its principal pension plans was conducted on December 31, 2024. Petro Stopping Center assesses the obligation and cost of providing pension and other post-employment benefits annually using the projected unit credit method, with a valuation of the principal plans carried out each year.
This valuation date is important because it reflects the company's financial health and its ability to meet its pension obligations. Prospective franchisees may want to understand how these pension obligations could indirectly affect the stability and resources available to support the franchise system.
The financial assumptions used to estimate these benefit obligations are reviewed by Petro Stopping Center's management at the end of each year. These assumptions are then used to evaluate the accrued benefit obligation as of December 31 and to determine the pension expense for the following year. This annual review ensures that the company's financial planning and reporting accurately reflect its long-term liabilities.