nonrecurring charge

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Nonrecurring charge

A one-time expense or credit shown in a company's financial statement.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Nonrecurring Charge

A charge, usually triggered by an extraordinary event, that appears on a company's financial statement only once. A nonrecurring charge is listed as an expense for the company and reduces its earnings for the time period covered in the financial statement. Most statements make it clear that a nonrecurring charge is a one-time event and does not reflect the company's broader financial health.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

nonrecurring charge

An expense that is not expected to be encountered again in the foreseeable future.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
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47 indicates that a misstatement affecting recurring earnings may be more relevant than one involving a nonrecurring charge. However, the nonrecurring charge is not the item that was waived.
Hanna will incur a fourth quarter, nonrecurring charge of approximately $30 million, or $1.45 per share, fully diluted, of which $28 million will be the write-off of remaining goodwill and excess purchase price associated with the business.
President and CEO of Citizens Business Bank Chris Myers commented, "Excluding the nonrecurring charge to tax expense, fourth quarter net income was $31.1 million and year-end earnings were $117.6 million, both all-time highs for the Bank.
A major cost reduction programme was implemented in the period resulting in a nonrecurring charge for redundancy and reorganisation costs of pounds 452,000.
Adjusted earnings exclude a nonrecurring charge of $3.2 million booked in the first quarter connected with litigation concerning an accident in a store several years ago.
During the third quarter, Shaw recorded a nonrecurring charge of $35.45 million ($21.31 million net of tax benefit) to reflect its estimated liability for guarantees it had made of certain retail store lease obligations no longer being satisfied by Flooring America Inc.
In the quarter, Shaw recorded a nonrecurring charge of $6.6 million for severance and other employee termination benefits, related to a residential sales force restructuring from the integration of Shaw's and Queen's products.
As previously announced, Albertson's recorded a $454 million nonrecurring charge ($303 million, after-tax) during the quarter to cover the cost of its Phase Two restructuring.
Earnings in the 2010 quarter included a $26.3 million (pretax) nonrecurring charge related to a retail inventory accounting change.
Also included in the fourth-quarter results was a $4.6 million after-tax reduction to the nonrecurring charge recorded in the second quarter ended July 31, 1998.
The red ink reflected a $352.5 million ($230.5 million after taxes) nonrecurring charge for restructuring and asset-impairment costs related to CVS' previously announced plan to shutter 229 underperforming stores and take other steps to streamline operations and enhance operating efficiencies.
The store closing and layoffs will result in a nonrecurring charge of about $585 million to cover the costs of its restructuring plan.