But while they may not be happy about it, many companies are nonetheless adopting some of the ideas central to core earnings.

The idea of core earnings has also earned at least one influential fan.

The company is expecting "core" earnings per share for 2011 in the lower half of the range of $7.20 to $7.40.

But nearly all of the profits so far have come from real estate sales rather than sustainable core earnings.

"When we only look at core earnings, the numbers are a lot lower," he said.

For the year, the margin on core net earnings was 10.9 percent - the highest in 58 years, the company said.

"This restructuring will result in stronger core earnings in 1988 and beyond."

As a result, it has upgraded its 2011 target for core earnings per share from $6.45-$6.75 to $6.90-$7.20.

"We would like operating earnings to slowly disappear from the discussion and be replaced by core earnings."

He ignores core earnings because they are too new to have a good historical context.