Extraordinary Item
Gains or losses included in a company's financial statements, which are infrequent and unusual in nature. These are usually explained further in the "notes to the financial statements."
Investopedia Commentary
These are the result of unforeseen and atypical events. They are usually accounted for separately so they don't skew the company's regular earnings.
An example would be a snowstorm in Hawaii creating extraordinary losses to banana crops. These losses might be written down as a one-time charge due to an extraordinary item.
Related Links
Understanding Pro-Forma Earnings
Footnotes: Start Reading The Fine Print
How To Read Footnotes - Part 1
See also: Balance Sheet, Fundamental Analysis, Income Statement, Write Down
extraordinary item