What was the surplus (deficit) at December 31, 2024 for Petro Stopping Center?
Petro_Stopping_Center Franchise · 2025 FDDAnswer from 2025 FDD Document
| Share capital | Share premium account | Other reserves | Profit and loss account | BP Corporation North America shareholders' equity | Non controlling interests | Total equity | |
|---|---|---|---|---|---|---|---|
| At January 1, 2024 | 1 | 43,288 | 195 | (11,173) | 32,311 | 13,481 | 45,792 |
| Profit for the year | — | — | — | 2,453 | 2,453 | 818 | 3,271 |
| Items that may be reclassified subsequently to profit or loss | |||||||
| Cash flow hedges | — | — | (406) | — | (406) | — | (406) |
| Share of items relating to equity-accounted entities, net of tax | — | — | — | 1 | 1 | — | 1 |
Source: Item 14 — Other investments (FDD pages 131–208)
What This Means (2025 FDD)
According to Petro Stopping Center's 2025 Franchise Disclosure Document, at January 1, 2024, the profit and loss account was a deficit of $11,173. However, the profit for the year was $2,453. There were also cash flow hedges of ($406) and share of items relating to equity-accounted entities, net of tax of $1. The net effect of these items resulted in a profit and loss account of ($11,173 + 2,453 - 406 + 1) = ($9,125) at December 31, 2024.
At January 1, 2024, the BP Corporation North America shareholders' equity was $32,311. The profit for the year was $2,453, cash flow hedges were ($406), and share of items relating to equity-accounted entities, net of tax was $1. The net effect of these items resulted in BP Corporation North America shareholders' equity of ($32,311 + 2,453 - 406 + 1) = $34,359 at December 31, 2024.
At January 1, 2024, the total equity was $45,792. The profit for the year was $3,271, and cash flow hedges were ($406), and share of items relating to equity-accounted entities, net of tax was $1. The net effect of these items resulted in total equity of ($45,792 + 3,271 - 406 + 1) = $48,658 at December 31, 2024. All figures are in millions of dollars.