A final solution to a situation, usually after much deliberation, and a final acceptance of that fact. It can be giving up on expecting someone to show up, or as it's typically used amongst The Mafia, a death sentence.
The simplest definition is: a ultimate, final acceptance. Period. Past all points or avenues of trying to change the situation. Gun at your head, you're done crying, he's not hearing you out. It is what it is. Get on with it motherfucker!
Frank Sheeran: "Tony told the old man to tell me to tell you... 'it's what it is'"
Jimmy: "What it is?"
Frank: "It's what it is."
Jimmy: *sniffling* "They wouldn't dare"
or
Tim: "The pharmacy won't process my refill. I tried everything."
Nick: "Not even for tomorrow?"
Tim: "It is what it is. I'm out of ideas."
What will happen will happen, no matter how much you worry and overthink it. You can’t control what will happen. So sit down and let fate do their work. You say that to calm yourself from overthinking.
Me: “what if they hate me? What if they don’t like me? What if I’m not good enough? What if they leave?”
Gangsta: Yo, G-dog. What the hizzle is up wizzle tha urbandictionizzle? It's mellow scrill yo!
White guy: WTF?
Urbandictionary.com: DEFINITION: Hello, my friend. What is up with urbandictionary.com? I think its great!
White guy: Oh.
Utility beer is the beer you keep around for the day-to-day moments when beer is a necessity to assist in pedestrian activities (golf, plumbing, yardwork, babysitting, staff meetings, Zoom calls). For the beer snob it is the beer you save for neighbors when they drop in at 3 p.m. on a Tuesday. It is differentiated from the actual high-end beer you save for special events, holidays, and special tastings.
Person 1: Dave, did you bring along those hazy craft IPA's so we could drink while cleaning Lyle's pool?
Person 2: Nope. I just have a bunch of utility beer that Steve dumped on me. Good enough for this. It is only 10:30 a.m.