Can anyone explain the exact meanig of "That is what it is."?
I've recently heard this expression a few times on TV and still don't get the meaning of it even after looking it up on the internet.
I apologize for not being able to provide any context in which it was used.
I'd appreciate it if you could teach me the exact meaning of it with some example sentences if possible.

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I think maybe the phrase you're thinking of is "It is what it is."  This is a pretty common phrase, and it basically means "This is the situation, and there's nothing we can do to change it."

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"It is what it is" means for example,

"The British people chose to exit from the EU. Whether they made the right choice or not, it is what it is."  This means that, this is the situation, and there's nothing we can do to change it. Or,

"The cake that you baked today isn't very good. But, it's edible. It is what it is."

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Thank you! I appreciate the same answer from people from different countries!