What was the total comprehensive income for Petro Stopping Center in 2023?
Petro_Stopping_Center Franchise · 2025 FDDAnswer from 2025 FDD Document
In 2024, the total tax credit recognized within other comprehensive income / (loss) was $88 million (2023 $176 million charge and 2022 $135 million charge). The tax credit in 2024 and tax charge in 2023 were primarily comprised of the deferred tax impact of natural gas hedges. In 2022, the tax charge was primarily comprised of remeasurements of the net pension and other post-employment benefit liability or asset. See Note 26 for further information.
The total tax charge recognized directly in equity was $45 million (2023 $5 million charge and 2022 $204 million credit).
For information on significant estimates and judgements made in relation to taxation, see Income taxes within Note 1.
Income tax obligations within the US are paid by the parent, BP America, and thus no outstanding US income tax receivable, payable or cash flows are presented within these financial statement for the Company.
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 the total tax credit recognized within other comprehensive income/(loss) shows that in 2023, there was a charge of $176 million. This charge was primarily due to the deferred tax impact of natural gas hedges.
Additionally, the total tax charge recognized directly in equity for Petro Stopping Center was $5 million in 2023.
It is important to note that income tax obligations within the U.S. are paid by Petro Stopping Center's parent company, BP America. Therefore, the financial statements for Petro Stopping Center do not present any outstanding U.S. income tax receivable, payable, or cash flows.