Abstract: A double-sided indexable cutting insert includes a top side and a bottom side interconnected by an edge surface. A plurality of upper major cutting edges are formed at a transition between the top side and the edge surface, and a plurality of lower major cutting edges are formed at a transition between the bottom side and the edge surface. Adjacently situated major cutting edges at each of the top and bottom sides are interconnected by corner cutting edges disposed along respective corners of the insert. Each corner cutting edge includes a minor cutting edge and a nose cutting edge. The nose cutting edge extends to the respective minor cutting edge from a respective major cutting edge. A portion of the edge surface disposed to one side of a bisector of each corner extends from a nose cutting edge of the top side towards a minor cutting edge on the bottom side and forms a downwardly facing step substantially midway between the top and bottom sides.