What were the gains on the sale of businesses for Petro Stopping Center in 2024?
Petro_Stopping_Center Franchise · 2025 FDDAnswer from 2025 FDD Document
e new joint venture. The related assets and liabilities of those projects have, therefore, been classified as held for sale. The carrying amount of US assets classified as held for sale on the Company's balance sheet at December 31, 2024 is $296 million, with associated liabilities of $8 million.
The total assets and liabilities held for sale at December 31, 2024 and 2023, which are all in the gas & low carbon e
Source: Item 23 — RECEIPTS **RECEIPTS (FDD pages 87–131)
What This Means (2025 FDD)
According to Petro Stopping Center's 2025 Franchise Disclosure Document, the total gains on the sale of businesses and fixed assets in 2024 amounted to $471 million. This figure is broken down by business segment. The gas & low carbon energy segment recorded gains of $290 million, while the oil production & operations segment saw gains of $129 million. The customers & products segment had gains of $46 million, and the other businesses & corporate segment reported gains of $6 million.
It is important to note that these gains are specifically related to the sale of businesses and fixed assets. The FDD also lists losses on the sale of businesses and fixed assets, impairment losses, and impairment reversals, which are separate from the gains. For instance, the document indicates that the principal transaction categorized as a business disposal in 2024 was a transaction relating to the prior period disposal in Alaska.
Prospective franchisees should understand that these figures reflect Petro Stopping Center's overall financial activities and may not directly correlate with the performance of individual franchise locations. However, they provide insight into the company's strategic decisions regarding asset management and business operations. Reviewing these figures in conjunction with other financial data in the FDD can help potential franchisees assess the financial health and stability of Petro Stopping Center.