What was the total carrying amount of net assets disposed by Petro Stopping Center in 2022?
Petro_Stopping_Center Franchise · 2025 FDDAnswer from 2025 FDD Document
The 2022 impairment loss of $500 million primarily relates to the decision to dispose of our business in Algeria. The 2022 impairment reversal of $1,331 million relates to the Trinidad CGU ($1,331 million) and principally arose as a result of changes to the group's oil and gas price assumptions. The recoverable amount of all CGUs for which impairment charges or reversals were recognized in 2022 in total, based on their value in use, is $7,934 million.
customers & products
In 2024, 2023 and 2022 there were no material impairment losses.
Impairment losses and reversals in 2024, 2023 and 2022 relate primarily to producing and midstream assets.
The 2022 impairment loss of $333 million principally relates to expected portfolio changes in bpx energy.
Source: Item 23 — RECEIPTS **RECEIPTS (FDD pages 87–131)
What This Means (2025 FDD)
According to Petro Stopping Center's 2025 Franchise Disclosure Document, information regarding impairment losses is available. In 2022, the impairment loss was $500 million, primarily related to the decision to dispose of their business in Algeria. There was also an impairment reversal of $1,331 million related to the Trinidad CGU, which principally arose from changes to the group's oil and gas price assumptions. The recoverable amount of all CGUs for which impairment charges or reversals were recognized in 2022 totaled $7,934 million, based on their value in use.
Additionally, the document mentions that in 2022, there were no material impairment losses in the customers & products segment. Impairment losses and reversals in 2024, 2023, and 2022 primarily relate to producing and midstream assets. The 2022 impairment loss of $333 million principally relates to expected portfolio changes in bpx energy.
However, the FDD does not explicitly state the total carrying amount of net assets disposed of by Petro Stopping Center in 2022. The document provides figures for impairment losses and reversals, which are related to asset valuations but do not directly quantify the book value of disposed assets. A prospective franchisee should ask Petro Stopping Center for the specific figure regarding the total carrying amount of net assets disposed of in 2022 to gain a clearer understanding of the company's asset disposition activities during that period.