Losses often involve the disposal of property, plant and equipment for a cash amount that is less than the carrying amount (or book value) of the asset sold. An example of a loss is the retailer's disposal of a delivery truck for a cash amount that is less than the truck's carrying amount. Another example is a loss from a settlement of a lawsuit.
Nonoperating expenses and losses are often reported on the income statement after the subtotal Income from operations and will often appear with the caption Other income and (expenses).
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