# ASC 220-10-05: Income Statement—Reporting Comprehensive Income — Overall — 05 Overview and Background

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/220/10/#05-overview-and-background)

Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.

Tables and mathematical or amendment markup are retained as HTML where Markdown would lose structure.

Source downloaded (UTC): 2026-09-09T23:03:12.637Z to 2026-09-09T23:03:12.637Z

Record version: sha256:6a91fef565c82d221da022b909770e3b0db3ee2532e41dfa3483a1ec852b0090

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


## ASC 220-10-05: 05 Overview and Background

[Read section](https://asc.understandingaccounting.org/asc/220/10/#05-overview-and-background)

SEC content: no

##### [220-10-05-1](https://asc.understandingaccounting.org/asc/220/10/#220-10-05-1)

Pending content: no

Source downloaded (UTC): 2026-09-09T23:03:12.637Z to 2026-09-09T23:03:12.637Z

Record version: sha256:68946ba565e839f669a7f5780ad5459ad2450d9bcb0d3e81aa4a379bb4ef890d

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


The Income Statement—Reporting Comprehensive Income Topic establishes standards for reporting and presentation of [comprehensive income](https://asc.understandingaccounting.org/glossary/c/#comprehensive-income "The change in equity (net assets) of a business entity during a period from transactions and other events and circumstances from nonowner sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners. Comprehensive income comprises both of the following:All components of net incomeAll components of other comprehensive income.") and its components in a full set of general-purpose financial statements. The Income Statement—Reporting Comprehensive Income Topic includes the following Subtopics:

1.  a
    
    Overall
    
2.  b
    
    Unusual or Infrequently Occurring Items
    
3.  c
    
    Business Interruption Insurance.

##### [220-10-05-2](https://asc.understandingaccounting.org/asc/220/10/#220-10-05-2)

Pending content: no

Source downloaded (UTC): 2026-09-09T23:03:12.637Z to 2026-09-09T23:03:12.637Z

Record version: sha256:d463502bf3e3d7132c9be7039fd86bca2932f1da37d2ef5425a226a5c1d0552c

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


Each Subtopic in the Income Statement—Reporting Comprehensive Income Topic contains standalone guidance. There is no relationship between the individual Subtopics within this Topic. Each Subtopic provides presentation and disclosure guidance for the income statement matter indicated by the Subtopic title.

##### [220-10-05-3](https://asc.understandingaccounting.org/asc/220/10/#220-10-05-3)

Pending content: no

Source downloaded (UTC): 2026-09-09T23:03:12.637Z to 2026-09-09T23:03:12.637Z

Record version: sha256:d9966af74c722eb2b8617ef057452b7b33e75dc0ccd32c576e2c4e2cb8db2e92

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


The Overall Subtopic provides general comprehensive income statement guidance. It also provides guidance on the structure of the Topic.

##### [220-10-05-4](https://asc.understandingaccounting.org/asc/220/10/#220-10-05-4)

Pending content: no

Source downloaded (UTC): 2026-09-09T23:03:12.637Z to 2026-09-09T23:03:12.637Z

Record version: sha256:8c071136e37f82d12fa7c633cf5e53c9e1e3e5fe801648c117b583cc2e2e8349

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


Subtopic 220-20 provides guidance about the presentation and disclosure of unusual or infrequently occurring items.

##### [220-10-05-5](https://asc.understandingaccounting.org/asc/220/10/#220-10-05-5)

Pending content: no

Source downloaded (UTC): 2026-09-09T23:03:12.637Z to 2026-09-09T23:03:12.637Z

Record version: sha256:2f6be694700336172513dfe02a9611589012eb0cd0bae6c8b8d6feaadc51b7f6

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


Subtopic 220-30 provides guidance on proceeds from business interruption insurance.

##### [220-10-05-6](https://asc.understandingaccounting.org/asc/220/10/#220-10-05-6)

Pending content: yes

Source downloaded (UTC): 2026-09-09T23:03:12.637Z to 2026-09-09T23:03:12.637Z

Record version: sha256:f4016b6f9b283e52c2e223cd319e296b5c3517eaf520a1f6db42e6f52a307d09

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


Transition date:(P) December 16, 2026; (N) December 16, 2026Transition guidance:

[220-40-65-1](https://asc.understandingaccounting.org/asc/220/40/#220-40-65-1)Subtopic 220-40 provides guidance on expense disaggregation disclosures and selling expenses disclosures.