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ASC 225 — Income Statement

Below is an overview of FASB Accounting Standards Codification Topic 225, Income Statement, as well as a list of FASB Accounting Standards Updates (ASUs) and proposed ASUs related to this Topic.


ASC 225 comprises three Subtopics (Overall, Extraordinary and Unusual Items, and Business Interruption Insurance). Below is an overview of each Subtopic.

225-10 Overall

ASC 225-10 notes the content that is included in each Subtopic within ASC 225 and provides general income statement guidance.

225-20 Extraordinary and Unusual Items

ASC 225-20 notes:


This Subtopic addresses the classification and resulting presentation and disclosure of extraordinary events and transactions. It also addresses the presentation and disclosure of unusual and infrequently occurring items that do not meet the extraordinary criteria.

225-30 Business Interruption Insurance

ASC 225-30 notes:


This Subtopic provides presentation and disclosure guidance for business interruption insurance. The types of costs and losses covered by business interruption insurance typically include the following:

  1. Gross margin that was lost or not earned due to the suspension of normal operations
  2. A portion of fixed charges and expenses in relation to that lost gross margin
  3. Other expenses incurred to reduce the loss from business interruption (for example, rent of temporary facilities and equipment, use of subcontractors, and so forth).

The full text of ASC 225 can be found in the FASB Accounting Standards Codification (link to the FASB's Web site; registration required). Also, the full text of the Codification and Deloitte-authored Q&As related to the Codification are available in the Deloitte Accounting Research Tool (DART) Web site (subscription required).

Content from the FASB Accounting Standards Codification® included at is copyrighted by the Financial Accounting Foundation, 401 Merritt 7, PO Box 5116, Norwalk, CT 06856-5116, and is reproduced with permission.

FASB Accounting Standards Updates

The following ASUs amended the guidance in this Topic:

Proposed FASB Accounting Standards Updates

    No current proposed ASUs on Topic 225.

    Correction list for hyphenation

    These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.