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S-X 5-03(7) and (9) prescribe separate income statement line item captions for non-operating income and non-operating expense. Many SEC registrants prefer to show one line item for non-operating income and expense on a net basis. Generally, the combination of non-operating income and expense is permissible as long as the individual amounts are not significant. Note that it is not the net balance that determines materiality, but the offsetting gross amounts. However, it is not permissible for SEC filers to combine non-operating income and expense if interest income and interest expense are netted in such a combination. The SEC requires that all interest expense is shown in the caption for interest expense prescribed by S-X 5-03(8).

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