Below are three separate historical incidents giving rise to losses for three different companies.
a. In 1980, Weyerhaeuser, a major wood products company, lost $36 million in timber, logs, and building equipment as a result of the volcanic eruption of Mount St. Helens in the state of Washington.
b. In 2001, Dow Jones & Company, Inc., the publisher of The Wall Street Journal, suffered $1.7 million in losses due to damage in its headquarters building as a result of the 9/11 terrorist incident.
c. In 2005, Northrop Grumman Corporation, a major defense contractor, reported significant losses in its shipbuilding yards along the Gulf Coast as a result of Hurricane Katrina. The losses were sufficient to cut its projected earnings in half for the year.
In each case, identify whether the loss should be reported as extraordinary.