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Under GAAP, below-the-line items are those items listed on the income statement that are "below" income from continuing operations. Two categories of items are presented below the line:1. Discontinued Operations - Net income (loss) from business segments that have been or will be disposed of or sold, including any gain (loss) on net assets of that segment in the current period.2. Extraordinary items - Gains (losses) from events that are both unusual and infrequent in nature.
Common principle company follow the accounting principle, Standard to prepare the financial statement
Below the line are operating expenses, interest, and taxes.
The items such as operating expenses,interest and taxe are called below the line items in GAAP.