What was the reported value of Petro Stopping Center's intangible assets in 2024?
Petro_Stopping_Center Franchise · 2025 FDDAnswer from 2025 FDD Document
The energy transition may affect the future development or viability of exploration prospects. The recoverability of the Company's exploration and appraisal intangible assets was considered during 2024. No significant write-offs were identified. These assets will continue to be assessed as the energy transition progresses. See significant judgement: exploration and appraisal intangible assets and Note 6 for further information.
Property, plant and equipment – depreciation and expected useful lives
Source: Item 23 — RECEIPTS **RECEIPTS (FDD pages 87–131)
What This Means (2025 FDD)
Based on the 2025 Franchise Disclosure Document, determining the exact value of Petro Stopping Center's intangible assets in 2024 requires further analysis of specific notes referenced within the document. While the document mentions 'exploration and appraisal intangible assets,' it does not provide a consolidated figure for the total value of all intangible assets. Instead, it indicates that the recoverability of these exploration and appraisal intangible assets was considered during 2024, and no significant write-offs were identified. Note 6 provides further information on this topic.
Additionally, the document discusses accounting considerations for oil and natural gas resources, referring to 'Intangible assets in Note 1' for significant judgments made in relation to oil and natural gas accounting. This suggests that details about intangible assets are spread across different notes within the financial statements.
To ascertain the precise value of Petro Stopping Center's intangible assets for 2024, a prospective franchisee should consult Note 1 and Note 6 of the financial statements included in the 2025 FDD. If the information is still unclear, they should directly request a comprehensive breakdown of intangible assets from Petro Stopping Center to fully understand the company's asset composition and valuation methods.