Are there notes related to the consolidated financial statements for Petro Stopping Center?
Petro_Stopping_Center Franchise · 2025 FDDAnswer from 2025 FDD Document
Exhibit D includes BPCNA's audited consolidated balance sheets as of December 31, 2024 and December 31, 2023, and related consolidated statements of profit and loss, comprehensive income, changes in stockholders' equity and cash flows for the years ended December 31, 2024, 2023, and 2022 and the related notes to the consolidated financial statements.
Notes to the consolidated financial statements
27. Contingent liabilities and legal proceedings
Contingent liabilities
There were contingent liabilities at December 31, 2024 in respect of guarantees and indemnities entered into as part of the ordinary course of the Company's business. No material losses are likely to arise from such contingent liabilities. Further information on financial guarantees is included in Note 24.
In the normal course of the Company's business, the Company and its subsidiaries and affiliates are subject to legal and regulatory proceedings arising out of current and past operations, including matters related to commercial disputes, product liability, antitrust, commodities trading, premises-liability claims, consumer protection, general health, safety, climate change and environmental claims and allegations of exposures of third parties to toxic substances, such as lead pigment in paint, asbestos and other chemicals. The amounts claimed could be significant and could be material to the Company's results of operations, financial position or liquidity. While it is difficult to predict the ultimate outcome in some cases, the Company expects that the impact of current legal and regulatory proceedings on its results of operations, liquidity or financial position will not be material.
The Company files tax returns in many jurisdictions across the world. Various tax authorities are currently examining these returns, which contain matters that could be subject to differing interpretations of applicable tax laws and regulations. The resolution of tax positions through negotiations with relevant
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 87)
What This Means (2025 FDD)
According to the 2025 FDD, Exhibit D includes BPCNA's audited consolidated balance sheets as of December 31, 2024, and December 31, 2023, and related consolidated statements of profit and loss, comprehensive income, changes in stockholders' equity, and cash flows for the years ended December 31, 2024, 2023, and 2022, and the related notes to the consolidated financial statements. These notes provide additional details and explanations regarding the figures and information presented in the financial statements.
Specifically, Note 27 addresses contingent liabilities and legal proceedings. As of December 31, 2024, there were contingent liabilities related to guarantees and indemnities. The document states that no material losses are expected to arise from these contingent liabilities. Additionally, Petro Stopping Center and its subsidiaries are involved in legal and regulatory proceedings related to commercial disputes, product liability, antitrust, commodities trading, premises-liability claims, consumer protection, general health, safety, climate change, and environmental claims. While the amounts claimed could be significant, the company anticipates that the impact of these proceedings on its financial results will not be material.
The document also mentions that various tax authorities are examining Petro Stopping Center's tax returns across different jurisdictions. These examinations involve matters that could be subject to differing interpretations of tax laws and regulations. The resolution of these tax positions will be through negotiations with the relevant authorities. Note 24 contains further information on financial guarantees.