Our purpose is to develop a
splitting theory for the functor Pic. For each rank one projective module P, we
exhibit a generic splitting algebra T∞(P∕R). Whenever n is a multiple of the order of
P in Pic (R), it has a splitting algebra which is a rank n projective module. We then
show the relationship of the latter algebra to the usual splitting ring of an ideal in a
Dedekind domain.