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ASC 230 requires that cash proceeds received from the settlement of insurance claims (with the exception of proceeds received from corporate-owned life insurance policies and bank-owned life insurance policies, discussed in FSP 6.9.23) be classified on the basis of the related insurance coverage. In other words, the classification should be made based on the nature of the loss. For example, insurance proceeds related to damage of equipment are investing inflows while proceeds related to business interruption are operating inflows.

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