What was the interest income on plan assets for Petro Stopping Center's pension plans in 2023?
Petro_Stopping_Center Franchise · 2025 FDDAnswer from 2025 FDD Document
mployment benefit plans are included in the benefit obligation.
The benefit payments amount shown above comprises $392 million benefits and $14 million of plan expenses incurred in the administration of the benefit. The actual return on plan assets is made up of the sum of the interest income on plan assets and the remeasurement of plan assets as disclosed above.
| $ million | |||
|---|---|---|---|
| Other post | 2023 | ||
| Pension plans | employment benefit plans | Total | |
| Analysis of the amount charged to profit before interest and taxation | |||
| Current service costa | 147 | 19 | 166 |
| Operating charge relating to defined benefit plans | 147 | 19 | 166 |
| Payments to defined contribution plans | 159 | — | 159 |
| Total operating charge | 306 | 19 | 325 |
| Interest income on plan assetsa | (291) | — | (291) |
| Interest on plan liabilities | 242 | 74 | 316 |
| Other finance expense | (49) | 74 | 25 |
| Analysis of the amount recognized in other comprehensive income | |||
| Actual asset return less interest income on plan assetsa | 45 | — | 45 |
| Change in financial assumptions underlying the present value of the plan liabilities | (79) | 106 | 27 |
| Change in demographic assumptions underlying the present value of the plan liabilities | (5) | — | (5) |
| Experience gains and losses arising on the plan liabilities | 34 | 14 | 48 |
| Remeasurements recognized in other comprehensive income | (5) | 120 | 115 |
| Movements in benefit obligation during the year | |||
| Benefit obligation at January 1 | 4,718 | 1,480 | 6,198 |
| Operating charge relating to defined benefit plans | 147 | 19 | 166 |
| Interest cost | 242 | 74 | 316 |
| Contributions by plan participants | 3 | — | 3 |
| Benefit payments (funded plans)b | (272) | — | (272) |
| Benefit payments (unfunded plans)b | (35) | (131) | (166) |
| Remeasurements | 50 | (120) | (70) |
| Benefit obligation at December 31a | 4,853 | 1,322 | 6,175 |
| Movements in fair value of plan assets during the year | |||
| Fair value of plan assets at January 1 | 5,701 | — | 5,701 |
| Interest in |
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 interest income on plan assets for its pension plans in 2023 was $291 million. This figure reflects the income generated from the investments held within Petro Stopping Center's pension plans during that year. This income contributes to the overall funding and financial health of the pension plans, helping to ensure that the company can meet its future obligations to retirees.
The FDD also provides additional context by showing the movements in fair value of plan assets during the year, which includes the beginning fair value of plan assets at January 1 ($5,701 million), contributions by plan participants ($3 million), contributions by employers (funded plans) ($8 million), benefit payments ($272 million), and remeasurements ($45 million). These figures, along with the interest income, provide a comprehensive view of how the plan assets are managed and how they change over the course of the year.
Prospective franchisees should note that these figures relate to Petro Stopping Center's overall financial performance and pension obligations, and are not directly linked to the operation of an individual franchise. However, understanding the financial health of the parent company is crucial for assessing the stability and long-term viability of the franchise system. Franchisees may want to inquire further about how these pension obligations are managed and how they might indirectly affect the franchise system's financial stability.