What was the total cost of owned PP&E for Petro Stopping Center as of December 31, 2024?
Petro_Stopping_Center Franchise · 2025 FDDAnswer from 2025 FDD Document
ated with investments in subsidiaries and equity-accounted entities | 660 | 661 |
The majority of the unused US state tax losses have no fixed expiry date.
Substantially all of the deductible temporary differences have no expiry date.
| Impact of previously unrecognized deferred tax or write-down of deferred tax assets on tax charge | 2024 | 2023 | 2022 |
|---|---|---|---|
| Current tax benefit relating to the utilization of previously unrecognized deferred tax assets | 71 | 138 | 232 |
| Deferred tax benefit arising from the reversal of a previous write-down of deferred tax assets | 14 | — | — |
| Deferred tax benefit relating to the recognition of previously unrecognized deferred tax assets | 10 | — | 20 |
| Deferred tax expense arising from the write-down of a previously recognized deferred tax asset | 94 | 21 | — |
The US federal capital losses expire in the period 2027-2029.
The US unused tax credits expire in the period 2025-2034.
8. Property, plant and equipment (PP&E)
| Land and land improvements | Buildings | Oil and gas propertiesa | Plant, machinery and equipment | Fittings, fixtures and office equipment | Transportation | Oil depots, storage tanks and service stations | $ million Total | |
|---|---|---|---|---|---|---|---|---|
| Cost - owned PP&E | ||||||||
| At January 1, 2024 | 1,032 | 324 | 95,605 | 27,463 | 827 | 1,141 | 2,850 | 129,242 |
| Acquisitions | 12 | — | — | — | — | — | 51 | 63 |
| Additions | 151 | 48 | 4,550 | 1,406 | 61 | 87 | 357 | 6,660 |
| Transfers from intangible assets | — | — | 342 | — | — | — | — | 342 |
| Reclassified as assets held for sale | (10) | (3) | (16) | (706) | (1) | — | — | (736) |
| Deletions and disposals | 85 | 29 | (5,966) | (480) | (17) | (310) | (153) | (6,812) |
| At December 31, 2024 | 1,270 | 398 | 94,515 | 27,683 | 870 | 918 | 3,105 | 128,759 |
| Depreciation - owned PP&E | ||||||||
| At January 1, 2024 | 285 | 177 | 60,136 | 11,303 | 638 | 701 | 690 | 73,930 |
| Charge for the year | 27 | 12 | 5,730 | 1,091 | 64 | 42 | 269 | 7,235 |
| Impairment losses | — | — | 10 | 371 | — | — | 47 | 428 |
| Impairment reversals | — | — | (402) | (4) | — | (1) | — | (407) |
| Reclassified as assets held for sale | (6) | (2) | — | (364) | (1) | — | — | (373) |
| Deletions and disposals | (3) | (1) | (5,665) | (155) | (23) | (299) | (31) | (6,177) |
| At December 31, 2024 | 303 | 186 | 59,809 | 12,242 | 678 | 443 | 975 | 74,636 |
| Owned PP&E - net book amount at | 967 | 212 | 34,706 | 15,441 | 192 | 475 | 2,130 | 54,123 |
Source: Item 23 — RECEIPTS **RECEIPTS (FDD pages 87–131)
What This Means (2025 FDD)
According to Petro Stopping Center's 2025 Franchise Disclosure Document, the total cost of owned property, plant, and equipment (PP&E) as of December 31, 2024, was $128,759 million. This figure represents the sum of various assets, including land and land improvements, buildings, oil and gas properties, plant machinery and equipment, fittings, fixtures and office equipment, transportation assets, and oil depots, storage tanks, and service stations.
To arrive at this total, Petro Stopping Center itemized the cost of owned PP&E at the beginning of the year (January 1, 2024) and then accounted for acquisitions, additions, transfers from intangible assets, reclassifications as assets held for sale, and deletions and disposals throughout the year. The initial cost at the start of 2024 was $129,242 million, which was then adjusted by these various transactions to reach the final figure at year-end.
For a prospective franchisee, understanding these figures is crucial as it provides insight into the scale of assets Petro Stopping Center owns and manages. It also highlights the types of capital investments that are typical for this business. While franchisees will not directly own these assets, the efficiency and maintenance of these assets can impact the overall performance and customer experience at Petro Stopping Center locations. Additionally, the depreciation of these assets is tracked, with a total depreciation of $74,636 million recorded as of December 31, 2024.
It is also important to note that the net value of property, plant, and equipment assets owned by Petro Stopping Center, not including right-of-use assets, that are US based at December 31, 2024 amounted to $45,593 million. This gives a sense of the geographical distribution of the company's assets and the scale of its US operations.