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Exhibit 3.11 Examples of discontinued operations.
Sources: Companies‟ annual reports. The year following each company name designates the annual
report from which each example was drawn.
Natural disasters and civil unrest may trigger the recognition of extraordinary items. In 1980,
Weyerhaeuser Company reported an extraordinary loss due to the Mount St. Helens eruption. But note
from examples of nonrecurring items discussed earlier that Whole Foods Markets and Northrop
Grumman included the effects of Hurricane Katrina in their income from continuing operations. For
ConocoPhillips, even the expropriation of assets by Venezuela was not treated as extraordinary.
The task of locating all nonrecurring items of revenue or gain and expense or loss is aided only
marginally by the presence of the extraordinary category in the income statement, because the
extraordinary classification is employed so sparingly. Identifying most nonrecurring items calls for
careful review of other parts of the income statement, other statements, and notes to the financial
statements.