simplification initiative

Presentation1

1. 225-20Unusual or Infrequently Occurring Items225 Income Statement

   ASC 225-20 formerly governed the reporting of extraordinary items (events both unusual in nature and infrequent in occurrence) and unusual or infrequently occurring items in the income statement. Every paragraph has been superseded: ASU 2015-01 eliminated the extraordinary item concept and its separate net-of-tax presentation below income from continuing operations, and Maintenance Update 2017-19 removed the remaining shell paragraphs after the transition period ended. Presentation and disclosure of material unusual or infrequently occurring items now resides in ASC 220-20 (Income Statement—Unusual or Infrequently Occurring Items).