Final answer:
Items included in Other Comprehensive Income (OCI) generally incorporate unrealized gains and losses, such as deferred gains and losses on derivatives, net holding gains and losses on certain investments, and gains and losses from amendments to postretirement programs.
Step-by-step explanation:
The student's question relates to Other Comprehensive Income (OCI), which is a component of shareholders' equity on the balance sheet that includes items that have not been realized and are excluded from net income. OCI examples include:
- Deferred gains and losses on derivatives designated as cash flow hedges.
- Net holding gains and losses on certain types of investments, such as those classified as available-for-sale securities.
- Gains and losses from amendments to postretirement benefit programs.
However, nonoperating loss from flood damages is typically included in the income statement and not OCI as it is a realized loss.
Sometimes, OCI includes items such as deferred gains and losses on derivatives, net holding gains and losses on certain types of investments, and gains and losses from amendments to postretirement programs. Additionally, nonoperating losses from flood damages are not reported in OCI.