it is what it is

1. Humble resignation to the circumstances of a situation that are beyond your control.

2. Euphemism for having little regard for outcome of a situation that will have a negative effect on those around you.

Example 1. It is a shame that Jimmie has left, but it is what it is.

Example 2. It's unfortunate you had to work late last night, but you know, it is what it is.