Gain (Loss) from Adjustments to Prior Period Extraordinary Items

Adjustments to gains (losses) arising from an extraordinary item recognized in a prior period. Circumstances attendant to extraordinary items frequently require estimates, for example, of associated costs and occasionally of associated revenue, based on judgment and evaluation of the facts known at the time of first accounting for the event. Each adjustment in the current period of an element of an extraordinary item that was reported in a prior period should be separately disclosed as to year of origin, nature, and amount and classified separately in the current period in the same manner as the original item. If the adjustment is the correction of an error, the provisions of existing generally accepted accounting principles would apply. This element is gross of the related tax effect.