We might also consider unusual, "one-time," or non-recurring items as these could actually make for some interesting discussion as we know that the rules related to these items changed recently. Years ago, if an item met the requirements as both "unusual" AND "infrequent," then companies were permitted to classify this item as "extraordinary" on the income statement and list it beneath income from continuing operations on a net-of-tax basis.

However, the FASB has now eliminated the "extraordinary" classification. If a company experiences a gain or loss than is unusual and/or infrequent, they now report it as a separate line item but include it within income from continuing operations.

Team, what are your thoughts associated with this change?