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Lone Pine Resources Inc. Message Board

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  • marketrockett marketrockett Aug 21, 2012 10:34 AM Flag

    What exactly was the 126 million

    Financial Statements - Income Statement: Non-recurring Items

    Within this section we will further our discussion on the non-recurring components of net income, such as unusual or infrequent items, discontinued operations, extraordinary items, and prior period adjustments.

    Unusual or Infrequent Items
    Included in this category are items that are either unusual or infrequent in nature but cannot be both.

    Examples of unusual or infrequent items:
    Gains (or losses) as a result of the disposition of a company's business segment including:
    Plant shutdown costs
    Lease-breaking fees
    Employee-separation costs
    Gains (or losses) as a result of the disposition of a company's assets or investments (including investments in subsidiary segments) including:
    Plant shut-down costs
    Lease-breaking fees
    Gains (or losses) as a result of a lawsuit
    Losses of operations due to an earthquake
    Impairments, write-offs, write-downs and restructuring costs
    Integration expenses related to the acquisition of a business

    Look Out!

    Accounting treatment is usually displayed as pre-tax. That means that they are displayed on the income statement after income from continuing operations gross of tax implication.

    Extraordinary Items
    Events that are both unusual and infrequent in nature are qualified as extraordinary expenses.

    Example of extraordinary items:
    Losses from expropriation of assets
    Gain (or losses) from early retirement of debt

0.0899+0.0028(+3.21%)Sep 13 3:58 PMEDT