extraordinary gain

Extraordinary Gain

Non-recurring, non-operating profit in a given fiscal year. Publicly-traded companies must include extraordinary gains (and extraordinary losses) on their annual and quarterly reports; they are usually explained separately so as not to detract from the companies' usual gains and losses. One of the most common extraordinary gains a company may report is the sale of a subsidiary or stake in another company for an amount greater than the asset value carried on the company's balance sheet.

extraordinary gain

Income from an unusual, infrequently occurring event or transaction. For example, a firm might sell a subsidiary at a price significantly higher than the value at which that subsidiary's assets are carried on the firm's balance sheet. An extraordinary gain is reported separately from regular income to emphasize the fact that it is nonrecurring.
References in periodicals archive ?
The 2009 quarter included a $225,000 extraordinary gain and the 2008 quarter included a $268,000 extraordinary gain.
This is because the extraordinary gain under tracing is limited only to recognized BIG, while it captures gain recognized on assets purchased after the subsidiary joined the group.
Insurance proceeds received to reimburse costs of reconstructing the Junction, Texas, facility following a March 2003 fire resulted in a $173,536 extraordinary gain for 2004 compared with an extraordinary gain of $2.
5) To allow relief for economic loss, loss disallowance does not apply to stock of a subsidiary to the extent the loss exceeds a share's allocable part of the sum of (1) the aggregate earnings and profits resulting in positive investment adjustments and distributions from current earnings and profits (determined without regard to extraordinary gain dispositions described below) for all consolidated return years, (2) earnings and profits from certain extraordinary gains after November 18, 1990, net of directly related expenses, for all consolidated return years, and (3) the amount of duplicated loss (Prop.
2007 second 2007 second quarter quarter Un-audited Un-audited Rmb '000 USD '000 Net sales 987,370 129,712 Gross profit 304,582 40,013 Income from operations 223,078 29,306 Income before income tax and minority interests 959,960 126,111 Net income after extraordinary gain 887,029 116,530 Basic earnings per share of common stock after extraordinary gain RMB 25.
Net income after an extraordinary gain was $574,264, compared with $108,233 for the first quarter of 2003.
1) earnings and profits derived from extraordinary gain dispositions,
Specifically, Hitachi plans to post an extraordinary gain on the sale of subsidiary and affiliated company shares, extraordinary loss for business restructuring and impairment losses on certain assets.
3) Income before income taxes and extraordinary gain 120.
Net income after extraordinary gain for the quarter ended March 31, 2004 was $574,264, as compared to $108,233 for the quarter ended March 31, 2003, a $466,031 increase.
For the fourth quarter of 2003, the Company reported income before extraordinary gain of $34.
Net income before the extraordinary gain decreased from 2002 to 2003 primarily because plastic raw material prices increased significantly and our Junction, Texas plant sales declined due to the fire.

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