B/E Aerospace (BEAV) spinoff of KLX Inc. (KLXI)

On December 16th, 2014, B/E Aerospace (BEAV) completed the spinoff of KLX, Inc. (KLXI).

On this date, each B/E shareholder received one share of KLX Inc. stock for every two shares of B/E common stock held as of December 5th, 2014

This is a standard spinoff. If you are not familiar with the general steps for entering a spinoff, please see either FAQ 1052 for Club Accounting 3, or FAQ 1053 For myiclub.com

The information below is taken from form 8937, filed with the IRS, and posted as a .PDF file in the Investor Relations area of the B/E investor relations web site.

The information from the file, which you will need for the spinoff:

Date: 12/16/14 - Your broker may use a slightly latter date. If so, this is also acceptable.

Old Security Price per share, or Remaining Basis Fraction: While either one of these can be used, we suggest to use the Remaining Basis figure of 72.558, used in the PDF from the Investor relations site.

Shares Received: Divide your current shares of BEAV in half. Make sure to include any fractional shares. Even if the broker gave the club cash, the fractional shares must be included when entering the transaction.

Price per share for the new security: According to the PDF file, the company used 42.45 as the price per share when determining the cost basis allocation. If your broker shows a different price, feel free to use that instead.

Cash Received: If your club received any cash as part of the spinoff, enter it on this transaction screen.