# ASC 205-20-55: Presentation of Financial Statements — Discontinued Operations — 55 Implementation Guidance and Illustrations

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/205/20/#55-implementation-guidance-and-illustrations)

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## ASC 205-20-55: 55 Implementation Guidance and Illustrations

[Read section](https://asc.understandingaccounting.org/asc/205/20/#55-implementation-guidance-and-illustrations)

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##### [205-20-55-1](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-1)

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##### [205-20-55-2](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-2)

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##### [205-20-55-44](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-44)

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##### [205-20-55-45](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-45)

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##### [205-20-55-46](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-46)

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##### [205-20-55-47](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-47)

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##### [205-20-55-48](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-48)

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##### [205-20-55-49](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-49)

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##### [205-20-55-50](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-50)

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##### [205-20-55-52](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-52)

Pending content: no

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##### [205-20-55-53](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-53)

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##### [205-20-55-54](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-54)

Pending content: no

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##### [205-20-55-55](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-55)

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##### [205-20-55-56](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-56)

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##### [205-20-55-57](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-57)

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##### [205-20-55-58](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-58)

Pending content: no

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##### [205-20-55-59](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-59)

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##### [205-20-55-60](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-60)

Pending content: no

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##### [205-20-55-61](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-61)

Pending content: no

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##### [205-20-55-62](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-62)

Pending content: no

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##### [205-20-55-63](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-63)

Pending content: no

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##### [205-20-55-64](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-64)

Pending content: no

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##### [205-20-55-65](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-65)

Pending content: no

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##### [205-20-55-66](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-66)

Pending content: no

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##### [205-20-55-67](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-67)

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##### [205-20-55-68](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-68)

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##### [205-20-55-69](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-69)

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##### [205-20-55-70](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-70)

Pending content: no

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[Paragraph superseded by Accounting Standards Update No. 2014-08](https://asc.understandingaccounting.org/updates/asu-2014-08/).

##### [205-20-55-71](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-71)

Pending content: no

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[Paragraph superseded by Accounting Standards Update No. 2014-08](https://asc.understandingaccounting.org/updates/asu-2014-08/).

##### [205-20-55-72](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-72)

Pending content: no

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[Paragraph superseded by Accounting Standards Update No. 2014-08](https://asc.understandingaccounting.org/updates/asu-2014-08/).

##### [205-20-55-73](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-73)

Pending content: no

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[Paragraph superseded by Accounting Standards Update No. 2014-08](https://asc.understandingaccounting.org/updates/asu-2014-08/).

##### [205-20-55-74](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-74)

Pending content: no

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[Paragraph superseded by Accounting Standards Update No. 2014-08](https://asc.understandingaccounting.org/updates/asu-2014-08/).

##### [205-20-55-75](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-75)

Pending content: no

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[Paragraph superseded by Accounting Standards Update No. 2014-08](https://asc.understandingaccounting.org/updates/asu-2014-08/).

##### [205-20-55-76](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-76)

Pending content: no

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[Paragraph superseded by Accounting Standards Update No. 2014-08](https://asc.understandingaccounting.org/updates/asu-2014-08/).

##### [205-20-55-77](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-77)

Pending content: no

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[Paragraph superseded by Accounting Standards Update No. 2014-08](https://asc.understandingaccounting.org/updates/asu-2014-08/).

##### [205-20-55-78](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-78)

Pending content: no

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[Paragraph superseded by Accounting Standards Update No. 2014-08](https://asc.understandingaccounting.org/updates/asu-2014-08/).

##### [205-20-55-79](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-79)

Pending content: no

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[Paragraph superseded by Accounting Standards Update No. 2014-08](https://asc.understandingaccounting.org/updates/asu-2014-08/).

##### [205-20-55-80](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-80)

Pending content: no

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[Paragraph superseded by Accounting Standards Update No. 2014-08](https://asc.understandingaccounting.org/updates/asu-2014-08/).

##### [205-20-55-81](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-81)

Pending content: no

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[Paragraph superseded by Accounting Standards Update No. 2014-08](https://asc.understandingaccounting.org/updates/asu-2014-08/).

#### Implementation Guidance

##### [205-20-55-82](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-82)

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The following flowchart provides an overview of the disclosures required for discontinued operations.

-   ![](https://asc.understandingaccounting.org/asc-img/GUID-BADBBDD4-8FAD-44B1-8E6E-F30F20F1B21C-low.gif)
    
    "Does the entity have a discontinued operation under the criteria in paragraphs 205-20-45-1A through 45-1D?" Not a discontinued operation. See the flowchart in paragraph 360-10-55-18A for the required disclosures for the impairment or disposal of a long-lived asset. No "Disclose the following in the notes to financial statements that cover the period in which a discontinued operation either has been disposed of or is classified as held for sale under the requirements of paragraph 205-20-45-1E (see paragraph 205-20-50-1):" Yes a. A description of both the facts and circumstances leading to the disposal or expected disposal and the expected manner and timing of that disposal. "b. If not separately presented on the face of the statement where net income is reported (or statement of activities for a not-for-profit entity) as part of discontinued operations (see paragraph 205-20-45-3B), the gain or loss recognized in accordance with paragraph 205-20-45-3C." "d. If applicable, the segment(s) in which the discontinued operation is reported under Topic 280 on segment reporting." Required Disclosures for a Discontinued Operation "Did the entity change its plan of sale as addressed in paragraph 360-10-35-44 or 360-10-35-45?" "In the period in which the decision is made to change the plan for selling the discontinued operation, disclose in the notes to financial statements a description of the facts and circumstances leading to the decision to change that plan and the change's effect on the results of operations for the period and any prior periods presented (see paragraph 205-20-50-3)." Yes No Did the entity have any adjustments to amounts previously reported in discontinued operations? Disclose the nature and amount of adjustments to amounts previously reported in discontinued operations that are directly related to the disposal of a discontinued operation in a prior period. See paragraph 205-20-45-5 for examples of circumstances in which those types of adjustments may arise (see paragraph 205-20-50-3A). Yes "Did the entity have continuing involvement?" No A Yes B No
    
-   ![](https://asc.understandingaccounting.org/asc-img/GUID-9784CEEE-62C6-4327-86E9-5960741D994F-low.gif)
    
    Disclosures are complete for a discontinued operation that is a business or nonprofit activity held for sale at acquisition or a joint venture upon formation. "Disclose the summarized information about the assets, liabilities, and results of operations of the investee if that information was disclosed in financial reporting periods before the disposal in accordance with paragraph 323-10-50-3(c) (see paragraph 205-20-50-7)." a. The pretax profit or loss (or change in net assets) of the discontinued operation. b. The major classes of line items constituting the pretax profit or loss (or change in net assets) of the discontinued operation. "Was the discontinued operation an equity method investment before the disposal?" "To the extent not presented on the face of the financial statements as part of discontinued operations, disclose all of the following in the notes to financial statements for the periods in which the results of operations of the discontinued operation are presented in the statement where net income is reported (or statement of activities) or for the period in which the discontinued operation is classified as held for sale and all prior periods presented in the statement of financial position (as applicable) (see paragraph 205-20-50-5B):" "d. If the discontinued operation includes a noncontrolling interest, the pretax profit or loss (or change in net assets) attributable to the parent." e. The carrying amount(s) of the major classes of assets and liabilities included as part of a discontinued operation classified as held for sale. "Which criterion does the discontinued operation meet?" 205-20-45-1D 205-20-45-1B through 45-1C C "c. Either the total operating and investing cash flows of the discontinued operation or the depreciation, amortization, capital expenditures, and significant operating and investing noncash items of the discontinued operation." Disclose information about an entity's significant continuing involvement with a discontinued operation after the disposal date. The disclosures are required until the results of operations of the discontinued operation in which an entity retains significant continuing involvement are no longer presented separately as discontinued operations in the statement where net income is reported (or statement of activities). Disclose the following for each discontinued operation in which the entity retains significant continuing involvement after the disposal date (see paragraphs 205-20-50-4A through 50-4B): a. A description of the nature of the activities that give rise to the continuing involvement. b. The period of time during which the involvement is expected to continue. "c. For all periods presented, both the amount of any cash inflows or outflows from or to the discontinued operation after the disposal transaction and revenues or expenses presented, if any, in continuing operations after the disposal transaction that before the disposal transaction were eliminated in consolidated financial statements as intra-entity transactions." "d. For a discontinued operation in which an entity retains an equity method investment after the disposal (the investee), information that enables users of financial statements to compare the financial performance of the entity from period to period assuming that the entity held the same equity method investment in all periods presented in the statement where net income is reported (or statement of activities). The disclosure should include all of the following until the discontinued operation is no longer reported separately in discontinued operations:" "1. For each period presented in the statement where net income is reported (or statement of activities) after the period in which the discontinued operation was disposed of, the pretax income of the discontinued operation in which the entity retains an equity method investment." 2. The entity's ownership interest in the discontinued operation before the disposal transaction. 3. The entity's ownership interest in the investee after the disposal transaction. 4. The entity's share of the income or loss of the investee in the period(s) after the disposal transaction and the line item in the statement where net income is reported (or statement of activities) that includes the income or loss. A B No Yes
    
-   ![](https://asc.understandingaccounting.org/asc-img/GUID-46E13975-DCC8-4682-B4EE-0CD57680FF52-low.gif)
    
    "Did the entity provide the disclosures required by paragraph 205-20-50-5B(a), (b), and (e)?" "Disclose the following (may aggregate the amounts that are not considered major and present them as one line item in the reconciliation) (see paragraphs 205-20-50-5C through 50-5D):" Disclosures are complete. Yes No 1. The amounts required to be disclosed in paragraph 205-20-50-5B(e). "2. Total assets and total liabilities of the disposal group classified as held for sale that are presented separately on the face of the statement of financial position. If the disposal group includes assets and liabilities that are not part of the discontinued operation, present those assets and liabilities in line items in the reconciliations that are separate from the assets and liabilities of the discontinued operation." "a. For the initial period in which the disposal group is classified as held for sale and for all prior periods presented in the statement of financial position, a reconciliation of both:" "b. For the periods in which the results of operations of the discontinued operation are reported in the statement where net income is reported (or statement of activities), a reconciliation of both:" 1. The amounts required to be disclosed in paragraph 205-20-50-5B(a) and (b). 2. The after-tax profit or loss from discontinued operations presented on the face of the statement where net income is reported (or statement of activities). C

#### Illustrations

##### [205-20-55-83](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-83)

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Examples 1 through 3 provide illustrations of the guidance in paragraphs

[205-20-45-1B through 45-1C](https://asc.understandingaccounting.org/asc/205/20/#205-20-45-1B)

on disposals of groups of components of an entity representing strategic shifts that have a major effect on the entity's operations and financial results and are reported in discontinued operations.

##### [205-20-55-84](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-84)

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An entity manufactures and sells consumer products that are grouped into five major product lines. Each product line includes several brands that comprise operations and cash flows that can be clearly distinguished, operationally and for financial reporting purposes, from the rest of the entity. Therefore, for that entity, each major product line includes a group of components of the entity.

##### [205-20-55-85](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-85)

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The entity has experienced high growth in its discount cleaning product line that has lower price points than its premium cleaning product line. Total revenues from the discount cleaning product line are 15 percent of the entity's total revenues; however, the discount cleaning product line will require significant future investments to increase its profits. Therefore, the entity decides to shift its strategy of selling cleaning products at multiple price points and focus solely on selling cleaning products at a premium price point. As a result, the entity decides to sell the discount cleaning product line.

##### [205-20-55-86](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-86)

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Because the entity shifts its strategy of offering discount cleaning products to consumers and because the discount cleaning product line is one of five major product lines that is a major part of the entity's operations and financial results, the disposal represents a strategic shift that is reported in discontinued operations.

##### [205-20-55-87](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-87)

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An entity manufactures and sells food products that are grouped into five major geographical areas (Europe, Asia, Africa, the Americas, and Oceania). Each major geographical area includes several brands that comprise operations and cash flows that can be clearly distinguished, operationally and for financial reporting purposes, from the rest of the entity. Therefore, for that entity, each major geographical area includes a group of components of the entity.

##### [205-20-55-88](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-88)

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The entity has experienced slower growth in its operations located in the Americas, which accounts for 20 percent of the entity's total assets. Therefore, the entity decides to shift its strategy of selling food products in that geographical area and focus its resources on manufacturing and marketing food products in its other four higher growth geographical areas. As a result, the entity decides to sell its operations in the Americas.

##### [205-20-55-89](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-89)

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Because the entity's operations in the Americas is one of five major geographical areas that is a major part of the entity's operations and financial results, the disposal represents a strategic shift that is reported in discontinued operations.

##### [205-20-55-90](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-90)

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An entity that is a general merchandise retailer operates 1,000 retail stores in 2 different store formats—malls and supercenter stores—throughout the United States. The entity divides its stores into five major geographical regions: the Northwest, Southwest, Midwest, Northeast, and Southeast. For that entity, each retail store comprises operations and cash flows that can be clearly distinguished, operationally and for financial reporting purposes, from the rest of the entity. Therefore, for that entity, each retail store is a component of the entity.

##### [205-20-55-91](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-91)

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The entity has experienced declining net income at its 200 stores located in malls across all 5 major geographical regions. Historically, net income from the 200 stores in malls has been in a range of 30 to 40 percent of the entity's total net income. Total net income from the 200 stores in malls is down to 15 percent of the entity's total net income because of declining customer traffic in malls. Therefore, the entity decides to shift its strategy of selling products in malls and sell the 200 stores located in malls.

##### [205-20-55-92](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-92)

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Because the entity decides to shift its strategy of selling products in malls and focus solely on its supercenter stores and because the 200 stores located in malls are a major part of the entity's operations and financial results, the disposal represents a strategic shift that is reported in discontinued operations.

##### [205-20-55-93](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-93)

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This Example provides an illustration of the guidance in paragraphs

[205-20-45-1B through 45-1C](https://asc.understandingaccounting.org/asc/205/20/#205-20-45-1B)

. In this Example, the entity disposes of a component of an entity that is an equity method investment representing a strategic shift that has a major effect on the entity's operations and financial results and is reported in discontinued operations.

##### [205-20-55-94](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-94)

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An entity that follows the successful-efforts method of accounting produces oil and gas in two major geographical areas (Europe and Africa) that are each divided into several regions. Each region comprises operations and cash flows that can be clearly distinguished, operationally and for financial reporting purposes, from the rest of the entity. Therefore, for that entity, each major geographical area includes a group of components of the entity.

##### [205-20-55-95](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-95)

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In its operations located in Africa, the entity operates through a joint venture with another entity that is accounted for by the reporting entity as an equity method investment. The entity's carrying amount of its investment in the joint venture is 20 percent of the entity's total assets. Because of significant investments needed in its operations in Europe, the entity decides to shift its strategy of operating in Africa to focus on its operations in Europe and sell its stake in the joint venture.

##### [205-20-55-96](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-96)

Pending content: no

Source downloaded (UTC): 2026-09-09T22:53:05.574Z to 2026-09-09T22:53:05.574Z

Record version: sha256:8844ac55ed630095b356d457ed13b4f26b01f31468b54ba8a395594b1c885259

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


Because the entity shifts its strategy of operating a joint venture to focus on its operations in Europe where it maintains full control and because its operations in Africa are a major part of the entity's operations and financial results, its disposal represents a strategic shift that is reported in discontinued operations.

##### [205-20-55-97](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-97)

Pending content: no

Source downloaded (UTC): 2026-09-09T22:53:05.574Z to 2026-09-09T22:53:05.574Z

Record version: sha256:e156203493da2d5f2a85f5f6f606d4ace6a12d3b75a05648ec0a4fffcc4906d5

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


This Example provides an illustration of the guidance in paragraphs

[205-20-45-1B through 45-1C](https://asc.understandingaccounting.org/asc/205/20/#205-20-45-1B)

. In this Example, the entity sells 80 percent of a group of components of an entity representing a strategic shift that has a major effect on the entity's operations and financial results and is reported in discontinued operations.

##### [205-20-55-98](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-98)

Pending content: no

Source downloaded (UTC): 2026-09-09T22:53:05.574Z to 2026-09-09T22:53:05.574Z

Record version: sha256:a37847650e7796e7de6f5f5c0916fa652ad40105dabbfcafb8f3e9b8bdcbf40e

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


An entity that manufactures and sells sports equipment has two product lines that serve the football and baseball markets. Each product line includes several different brands that each comprise operations and cash flows that can be clearly distinguished, operationally and for financial reporting purposes, from the rest of the entity. Therefore, for that entity, each product line includes a group of components of the entity.

##### [205-20-55-99](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-99)

Pending content: no

Source downloaded (UTC): 2026-09-09T22:53:05.574Z to 2026-09-09T22:53:05.574Z

Record version: sha256:251b60cdade1bbd3a8449c37675350f67229fbee676b219264ba450043091ff8

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


The entity decides to shift its strategy of trying to sell products to the baseball equipment market, which accounts for 40 percent of its revenues, and focus more on serving its customers in the football equipment market. However, the entity decides to retain some exposure to the baseball equipment market by selling only 80 percent of the group of components in its product line that serves the baseball market to another entity.

##### [205-20-55-100](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-100)

Pending content: no

Source downloaded (UTC): 2026-09-09T22:53:05.574Z to 2026-09-09T22:53:05.574Z

Record version: sha256:671682646384298e2a901e7d685d2527e010ee98b7fde8013f0c3d5a19dc5375

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


Because the entity decides to shift its strategy of trying to sell products to the baseball equipment market by selling 80 percent of the group of components of the entity in that product line and because the portion sold comprises a major part of the entity's operations and financial results, its disposal represents a strategic shift that is reported in discontinued operations.

##### [205-20-55-101](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-101)

Pending content: no

Source downloaded (UTC): 2026-09-09T22:53:05.574Z to 2026-09-09T22:53:05.574Z

Record version: sha256:ef92575a8f60f69f41097cf1d31424bb5a586accbdf295d1fa887d70569a1c99

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


Because of the entity's significant continuing involvement after the disposal date, the entity provides the disclosures required by paragraphs

[205-20-50-4A through 50-4B](https://asc.understandingaccounting.org/asc/205/20/#205-20-50-4A)

.

##### [205-20-55-102](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-102)

Pending content: no

Source downloaded (UTC): 2026-09-09T22:53:05.574Z to 2026-09-09T22:53:05.574Z

Record version: sha256:b7f6c97e72c78d907680e022e8f2016d8d1dd46fa4d4cf3ffd258ff740abb0a3

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


The table in this illustration provides one example of how to disclose the reconciliation required by paragraph [205-20-50-5C(a)](https://asc.understandingaccounting.org/asc/205/20/#205-20-50-5C).

-   ![](https://asc.understandingaccounting.org/asc-img/GUID-D1D3FE70-7C66-43E6-96D8-BB532541411D-low.gif)
    
    "Reconciliation of the Carrying Amounts of Major Classes of Assets and Liabilities of the Discontinued Operation That Are Disclosed in the Notes to Financial Statements to Total Assets and Liabilities of the Disposal Group Classified as Held for Sale That Are Presented Separately in the Statement of Financial Position (in thousands of currency units)" 20X4 20X3 Carrying amounts of major classes of assets included as part of discontinued operations Cash $ XX $ XX Trade receivables XX XX Inventories XX XX "Property, plant, and equipment" XX XX Other classes of assets that are not major XX XX Total major classes of assets of the discontinued operation XX XX Other assets included in the disposal group classified as held for sale XX XX Total assets of the disposal group classified as held for sale in the statement of financial position $ XX $ XX Carrying amounts of major classes of liabilities included as part of discontinued operations Trade payables $ XX $ XX Short-term borrowings XX XX Other classes of liabilities that are not major XX XX Total major classes of liabilities of the discontinued operation XX XX Other liabilities included in the disposal group classified as held for sale XX XX Total liabilities of the disposal group classified as held for sale in the statement of financial position $ XX $ XX

##### [205-20-55-103](https://asc.understandingaccounting.org/asc/205/20/#205-20-55-103)

Pending content: no

Source downloaded (UTC): 2026-09-09T22:53:05.574Z to 2026-09-09T22:53:05.574Z

Record version: sha256:48228ce6f12c37517086771f8165af8157ec953fb395be01b762758df62fe3e4

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


The table in this illustration provides one example of how to disclose the reconciliation required by paragraph [205-20-50-5C(b)](https://asc.understandingaccounting.org/asc/205/20/#205-20-50-5C).

-   ![](https://asc.understandingaccounting.org/asc-img/GUID-25354546-6340-4392-9BAA-DACC64B212A5-low.gif)
    
    "Reconciliation of the Major Classes of Line Items Constituting Pretax Profit (Loss) of Discontinued Operations That Are Disclosed in the Notes to Financial Statements to the After-Tax Profit or Loss of Discontinued Operations That Are Presented in the Statement Where Net Income Is Presented (in thousands of currency units)" 20X4 20X3 Major classes of line items constituting pretax profit (loss) of discontinued operations Revenue $ XX $ XX Cost of sales (XX) (XX) "Selling, general, and administrative expenses" (XX) (XX) Interest expense (XX) (XX) Other income and expense items that are not major (XX) (XX) Pretax profit or loss of discontinued operations related to major classes of pretax profit (loss) XX XX Pretax gain or loss on the disposal of the discontinued operation XX Total pretax gain or loss on discontinued operations XX XX Income tax expense or benefit XX XX Total profit or loss on discontinued operations that is presented in the statement where net income is presented $ XX $ XX