Nonrecurring Gain (or Loss)

Any profit or expense that is not likely to occur again, as when a bank is liquidating a business or divesting an investment portfolio and writes off a portion of the uncapitalized expenses, or sells its headquarters building and records the resulting capital gain in the quarter in which the transaction occurred. A nonrecurring gain is a one-time event in accounting terms. If an expense item, it is sometimes called an extraordinary charge.