What was the net deferred tax charge (credit) for Petro Stopping Center in 2022?

According to Petro Stopping Center's 2025 Franchise Disclosure Document, the net deferred tax charge (credit) for the year 2022 was $3,455 million. This figure represents the sum of the origination and reversal of temporary differences in the current year ($3,379 million) and the adjustment in respect of prior years ($76 million).

Deferred tax typically arises from temporary differences between the accounting treatment and the tax treatment of certain items. For instance, depreciation methods may differ, leading to temporary differences in taxable income. The origination and reversal of these temporary differences are accounted for as deferred tax assets or liabilities.

The adjustments related to prior years reflect the reassessment of deferred tax balances due to changes in circumstances during the year. These adjustments can either increase or decrease the deferred tax expense or benefit for the current year. For a potential Petro Stopping Center franchisee, understanding these deferred tax implications is crucial for assessing the overall financial health and tax obligations of the business.