Harry Harman

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Profit before taxes is just operating income minus interest and other expense. An example of “other expense” that would show up here is a loss (or gain) on the sale of a fixed asset such as a piece of machinery. Since that is a presumably a one-time transaction (accountants call it a nonrecurring item), it is handled separately on the income statement.
Managing By The Numbers: A Commonsense Guide To Understanding And Using Your Company's Financials
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