Non-Recurring Items are the incomes received or expenses incurred by the business that are not from regular operations. Examples of NRI include gains (losses) from plant shutdown, lease-breaking fees, lawsuit, write-offs, write-downs, restructuring costs or sales of an investment, discontinued operations etc.
NRI can impact a companys reported income drastically.
GuruFocus lists a P/E (NRI), which is the price/earnings before NRI. We believe it more accurately reflects the valuation of the company.