How much interest did Petro Stopping Center pay in 2024?
Petro_Stopping_Center Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Interest and other income | |||
| Interest income from | |||
| Financial assets measured at amortized cost | 2,732 | 2,623 | 1,185 |
| Financial assets measured at fair value through profit or loss | — | 1 | — |
| Other income | 145 | 206 | 694 |
| 2,877 | 2,830 | 1,879 | |
| Currency exchange (gains) losses charged to the income statementa | (95) | (21) | (122) |
| Expenditure on research and development | 71 | 76 | 75 |
| Costs relating to the Gulf of America oil spill (pre-interest and tax)b | 51 | 84 | 84 |
| Finance costs | |||
| Interest expense on lease liabilities | 247 | 182 | 99 |
| Interest expense on other liabilities measured at amortized costc | 2,405 | 1,852 | 1,255 |
| Capitalized at 4.94% (2023 4.88% and 2022 3.56%)d | (84) | (210) | (270) |
| Unwinding of discount on provisions | 273 | 244 | 178 |
| Unwinding of discount on other payables measured at amortized cost | 497 | 448 | 453 |
| 3,338 | 2,516 | 1,715 |
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 company's finance costs include interest expenses. In 2024, the interest expense on lease liabilities was $247 million. The interest expense on other liabilities measured at amortized cost was $2,405 million, but this figure is then adjusted by subtracting capitalized interest of $84 million. The unwinding of discount on provisions was $273 million, and the unwinding of discount on other payables measured at amortized cost was $497 million.
Therefore, the total finance costs for Petro Stopping Center in 2024 amounted to $3,338 million. This figure is the sum of interest expense on lease liabilities, interest expense on other liabilities (net of capitalized interest), unwinding of discount on provisions, and unwinding of discount on other payables.
Prospective franchisees should understand that these figures reflect the overall financial activities of Petro Stopping Center and are not directly related to the operations of a single franchise location. However, they provide insight into the company's financial obligations and how they manage interest expenses and liabilities. Understanding the financial health of the parent company can be crucial for franchisees, as it can impact the support and resources available to them.