What was the total value of Petro Stopping Center's fixed assets in 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) |
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 value of property, plant, and equipment (PP&E), which represents fixed assets, can be broken down into several categories. As of December 31, 2024, the cost of owned PP&E was $128,759 million. This figure is derived from various components, including land and land improvements ($1,270 million), buildings ($398 million), oil and gas properties ($94,515 million), plant, machinery, and equipment ($27,683 million), fittings, fixtures, and office equipment ($870 million), transportation ($918 million), and oil depots, storage tanks, and service stations ($3,105 million).
However, the net book amount, which accounts for depreciation, provides a different perspective. The net book amount for owned PP&E at the end of 2024 was $54,123 million. This is calculated by subtracting accumulated depreciation from the original cost. Additionally, right-of-use assets, representing leased assets, had a net book amount of $5,529 million at the same date.
Therefore, the total PP&E, combining both owned and right-of-use assets, had a net book amount of $59,652 million as of December 31, 2024. This figure provides a comprehensive view of Petro Stopping Center's fixed assets, reflecting their original cost less accumulated depreciation and including the value of leased assets. For a prospective franchisee, understanding these values is crucial for assessing the company's financial health and the scale of its operations.