While other nonreciprocal transfers of long-lived assets (e.g., split-offs, dividends-in-kind, common-control transfers, or donations) are not specifically addressed in U.S. GAAP, we believe that such transfers are also disposals other than by sale, regardless of whether they are measured at historical cost or fair value in the transferring entity’s books. Thus, we believe that, by analogy to the guidance in ASC 845-10-30-10, the assets being distributed in a nonreciprocal exchange should remain classified as held and used until the distribution occurs.
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