Tax on Extraordinary Items (SF.IS.TaxonExtraordinaryItems)

Tax on Extraordinary Items (SF.IS.TaxonExtraordinaryItems) refers to the sum of tax impacts on extraordinary items listed in the following:

When a company presents both the gross (pre-tax) value of extraordinary items and their impact on net taxes, then it is presented as gross value as Extraordinary Item (SF.IS.ExtraordinaryItems) or Accounting Change (SF.IS.AccountingChange), while the impact of tax is collected as Tax on Extraordinary Items (SF.IS.TaxonExtraordinaryItems). If such a break-out is not available, Extraordinary Items (SF.IS.ExtraordinaryItems) and Accounting Change (SF.IS.AccountingChange) are utilized to present the net-of-tax value of extraordinary gains and charges.

Tax on Extraordinary Items (SF.IS.TaxonExtraordinaryItems) includes:

  • The tax impact of extraordinary items and accounting change reported below income before taxes, if the tax impact is delineated separately from the pre-tax value of extraordinary items and the accounting change
  • Tax benefit/loss on the sale of a discontinued business division and on current discontinued operations (tax on current net income/loss generated by a business division that has been classified as held for disposal but has not been sold yet)