General Electrics board of directors adopted and announced a restructuring plan in the fourth quarter of 2019, estimated to cost $1.2 billion in asset impairments, employee termination costs, and legal costs. The plan will be executed beginning in 2020 and will be completed by the end of 2023. According to GAAP, when should the cost of the restructuring plan be reported on GEs income statement?

When the plan is adopted, in the fourth quarter of 2019

After the plan has been completed, at the end of 2023.

During the implementation of the plan, over the period from 2020 to 2023.

When the plan commences, in 2020.

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