What was the profit and loss account for Petro Stopping Center at January 1, 2023?
Petro_Stopping_Center Franchise · 2025 FDDAnswer from 2025 FDD Document
| Note | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Profit (loss) for the year | 3,271 | 4,959 | 10,441 | |
| Other comprehensive income | ||||
| Items that may be reclassified subsequently to profit or loss | ||||
| Currency translation differences | _ | (13) | (6) | |
| Cash flow hedges | 25 | (531) | 637 | 26 |
| Share of items relating to equity-accounted entities, net of tax | 12,13 | 1 | _ | 12 |
| Income tax relating to items that may be reclassified | 7 | 124 | (149) | (9) |
| (406) | 475 | 23 |
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 profit (loss) for the year 2023 was $4,959 million. This indicates the overall profitability of Petro Stopping Center for that specific year.
Additionally, the document provides details on other comprehensive income items. Currency translation differences resulted in a loss of $13 million in 2023. Cash flow hedges contributed a gain of $637 million. The share of items relating to equity-accounted entities was negligible, and income tax relating to items that may be reclassified resulted in a loss of $149 million.
These figures offer a more detailed view of Petro Stopping Center's financial performance beyond just the profit or loss for the year. A prospective franchisee should consider these components of comprehensive income to understand the various factors influencing the overall financial health of the company. Understanding these figures can help a franchisee assess the financial stability and potential risks associated with investing in a Petro Stopping Center franchise.