What was the value of Petro Stopping Center's investments in joint ventures in 2023?
Petro_Stopping_Center Franchise · 2025 FDDAnswer from 2025 FDD Document
The Company has contracted capital commitments amounting to $251 million (2023 $699 million, 2022 $697 million) in relation to joint ventures and $10 million (2023 $33 million, 2022 $16 million) in relation to associates.
The Company's share of net impairment charges taken by joint ventures in 2024 was $0 (2023 $1,150 million and 2022 $277 million). The 2023 charges principally relate to the Company's US offshore wind investments in the gas and low carbon energy business.
| Note | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Earnings from joint ventures and associates | (206) | 1,062 | 111 | |
| Dividends received from joint ventures and associates | 232 | 232 | 209 | |
| Investment in joint ventures and associates | (281) | (779) | (351) |
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 company had contracted capital commitments amounting to $699 million in relation to joint ventures in 2023. Additionally, Petro Stopping Center's share of net impairment charges taken by joint ventures in 2023 was $1,150 million.
Furthermore, the document states that in 2023, Petro Stopping Center recorded earnings from joint ventures and associates of $1,062 million and received dividends from joint ventures and associates of $232 million. The investment in joint ventures and associates totaled $779 million in 2023.
These figures provide a multifaceted view of Petro Stopping Center's financial interactions with its joint ventures, encompassing capital commitments, impairment charges, earnings, dividends, and overall investment. A prospective franchisee should consider these figures to understand the scale and nature of Petro Stopping Center's involvement in joint ventures and how these ventures impact the company's financial performance.