Extraordinary Item


DEFINITION of 'Extraordinary Item'

Gains or losses included in a company's financial statements, which are infrequent and unusual in nature. These are usually explained further in the "notes to the financial statements."

BREAKING DOWN 'Extraordinary Item'

These are the result of unforeseen and atypical events. They are usually accounted for separately so they don't skew the company's regular earnings.

An example would be a snowstorm in Hawaii creating extraordinary losses to banana crops. These losses might be written down as a one-time charge due to an extraordinary item.

  1. Balance Sheet

    A financial statement that summarizes a company's assets, liabilities ...
  2. One-Time Item

    An accounting item in a company's income statement that is non-recurring ...
  3. Extraordinary Repairs

    Unusually extensive maintenance work performed on a piece of ...
  4. Discontinued Operations

    A segment of a company's business that has been sold, disposed ...
  5. Unusual Item

    In financial accounting, unusual items are line items on an income ...
  6. Write-Down

    Reducing the book value of an asset because it is overvalued ...
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