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PTC, headquartered in Knoxville, Tennessee, is a diversified fuel company that operates hundreds of travel centers, primarily under the names Pilot or Flying J, in 43 U.S. states and six Canadian provinces.

PTC, headquartered in Knoxville, Tennessee, is a diversified fuel company that operates more than 650 travel centers, primarily under the names Pilot or Flying J, in 43 U.S. states and six Canadian provinces.

The 2017 agreements also gave Pilot Corp. an annual 60-day opportunity, beginning Jan. 1 this year, to sell its remaining 20% interest in PTC to Berkshire.

The sale price would be calculated using PTC’s earnings in the prior year.

Pilot alleged, however, that after taking control of PTC, Berkshire adopted “pushdown accounting,” that resulted in the company reporting lower net income.