What was the surplus (deficit) at December 31, 2023 for Petro Stopping Center's pension plans?
Petro_Stopping_Center Franchise · 2025 FDDAnswer from 2025 FDD Document
| $ million | |||
|---|---|---|---|
| Other post | 2023 | ||
| Pension plans | employment benefit plans | Total | |
| Surplus (deficit) at December 31 | 923 | (1,322) | (399) |
| Represented by | |||
| Asset recognized | 1,139 | — | 1,139 |
| Liability recognized | (216) | (1,322) | (1,538) |
| 923 | (1,322) | (399) | |
| The surplus (deficit) may be analyzed between funded and unfunded plans as follows | |||
| Funded | 1,110 | — | 1,110 |
| Unfunded | (187) | (1,322) | (1,509) |
| 923 | (1,322) | (399) |
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 surplus (deficit) at December 31, 2023, for pension plans was $923 million, while other post-employment benefit plans had a deficit of $(1,322) million. The total surplus (deficit) across both categories was $(399) million.
The FDD further breaks down how this surplus or deficit is represented. For 2023, assets recognized amounted to $1,139 million, while liabilities recognized were $(216) million for pension plans and $(1,322) million for other post-employment benefit plans, resulting in the same total deficit of $(399) million.
The surplus (deficit) is also analyzed between funded and unfunded plans. For 2023, funded plans showed a surplus of $1,110 million, while unfunded plans had a deficit of $(187) million for pension plans and $(1,322) million for other post-employment benefit plans, again totaling $(399) million. This detailed breakdown provides a comprehensive view of Petro Stopping Center's financial obligations and assets related to its employee benefit plans.