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Background: GE (General Electric) announced recently that it is planning to split the company into...

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Accounting

Background: GE (General Electric) announced recently that it is planning to split the company into 3 separate companies. The three companies are Power, Healthcare, and Aviation. Healthcare includes about $22 billion in assets. Power includes about $40 billion in assets and Aviation about $38 billion. (There are some other assets, I'm not sure where they belong, but it doesn't matter here.) How should GE account for this transaction? (Aviation will be the continuing business entity, the others will be in newly created entities.) This is about this from the perspective of GE's continuing entity. Again, don't feel obligated to respond at all.

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