diff --git a/src/emu/flags.rs b/src/emu/flags.rs
new file mode 100644
index 0000000..89830b8
--- /dev/null
+++ b/src/emu/flags.rs
@@ -0,0 +1,69 @@
+use std::fmt::{Debug, Formatter};
+
+#[derive(Clone, Copy, Default)]
+pub struct Flags {
+  pub cf: bool,  //  0: Carry Flag: 1=CY(Carry), 0=NC(No Carry)
+  // 1: Reserved
+  pub pf: bool,  //  2: Parity Flag: 1=PE(Even), 0=PO(Odd)
+  // 3: Reserved
+  pub af: bool,  //  4: Adjust Flag: 1=AC(Aux Carry), 0=NA(No Aux Carry)
+  // 5: Reserved
+  pub zf: bool,  //  6: Zero Flag: 1=ZR(Zero), 0=NZ(Not Zero)
+  pub sf: bool,  //  7: Sign Flag: 1=NG(Negative), 0=PL(Positive)
+  pub tf: bool,  //  8: Trap Flag
+  pub ie: bool,  //  9: (Real name "IF") Interrupt Enable: 1=EI(Enable Interrupt), 0=DI(Disable Interrupt)
+  pub df: bool,  // 10: Direction Flag: 1=DN(Down), 0=UP(Up)
+  pub of: bool,  // 11: Overflow Flag: 1=OV(Overflow), 0=NV(Not Overflow)
+  // bits 12-15 always 1
+}
+
+impl From<u16> for Flags {
+  fn from(flags: u16) -> Self {
+    Self {
+      cf: flags & 1       != 0,
+      pf: flags & 1 << 2  != 0,
+      af: flags & 1 << 4  != 0,
+      zf: flags & 1 << 6  != 0,
+      sf: flags & 1 << 7  != 0,
+      tf: flags & 1 << 8  != 0,
+      ie: flags & 1 << 9  != 0,
+      df: flags & 1 << 10 != 0,
+      of: flags & 1 << 11 != 0,
+    }
+  }
+}
+
+impl From<Flags> for u16 {
+  fn from(flags: Flags) -> Self {
+    0b1111_0000_0010_1010  // Not sure what all reserved bits should be, but it shouldn't matter
+      | (flags.cf as u16)
+      | (flags.pf as u16) << 2
+      | (flags.af as u16) << 4
+      | (flags.zf as u16) << 6
+      | (flags.sf as u16) << 7
+      | (flags.tf as u16) << 8
+      | (flags.ie as u16) << 9
+      | (flags.df as u16) << 10
+      | (flags.of as u16) << 11
+  }
+}
+
+impl Debug for Flags {
+  fn fmt(&self, fmt: &mut Formatter) -> Result<(), std::fmt::Error> {
+    use std::fmt::Write;
+    fmt.write_str("[ ")?;
+    for flag in [ (self.cf, "CF "),
+                  (self.pf, "PF "),
+                  (self.af, "AF "),
+                  (self.zf, "ZF "),
+                  (self.sf, "SF "),
+                  (self.tf, "TF "),
+                  (self.ie, "IF "),
+                  (self.df, "DF "),
+                  (self.of, "OF ") ].iter() {
+      if flag.0 { fmt.write_str(flag.1)? };
+    }
+    fmt.write_char(']')?;
+    Ok(())
+  }
+}
diff --git a/src/emu/i8088.rs b/src/emu/i8088.rs
index 23cb00d..348c654 100644
--- a/src/emu/i8088.rs
+++ b/src/emu/i8088.rs
@@ -1,10 +1,11 @@
 use std::cell::Cell;
-use std::fmt::{Debug, Formatter};
+use std::fmt::Debug;
 
 use super::byteorder::{ByteOrder, LittleEndian};
 
 use emu::operands::{FarPtr, Reg, RegHi, RegLo};
 use emu::operations as ops;
+use emu::flags::Flags;
 use emu::pc::Bus;
 use emu::util::segoff_to_addr;
 
@@ -36,23 +37,6 @@ pub struct i8088 {
   pub flags: Flags,
 }
 
-#[derive(Clone, Copy, Default)]
-pub struct Flags {
-  pub cf: bool,  //  0: Carry Flag: 1=CY(Carry), 0=NC(No Carry)
-  // 1: Reserved
-  pub pf: bool,  //  2: Parity Flag: 1=PE(Even), 0=PO(Odd)
-  // 3: Reserved
-  pub af: bool,  //  4: Adjust Flag: 1=AC(Aux Carry), 0=NA(No Aux Carry)
-  // 5: Reserved
-  pub zf: bool,  //  6: Zero Flag: 1=ZR(Zero), 0=NZ(Not Zero)
-  pub sf: bool,  //  7: Sign Flag: 1=NG(Negative), 0=PL(Positive)
-  pub tf: bool,  //  8: Trap Flag
-  pub ie: bool,  //  9: (Real name "IF") Interrupt Enable: 1=EI(Enable Interrupt), 0=DI(Disable Interrupt)
-  pub df: bool,  // 10: Direction Flag: 1=DN(Down), 0=UP(Up)
-  pub of: bool,  // 11: Overflow Flag: 1=OV(Overflow), 0=NV(Not Overflow)
-  // bits 12-15 always 1
-}
-
 #[derive(Clone, Copy, Debug, Eq, PartialEq)]
 pub enum RepPrefix {
   None,     // No Prefix
@@ -610,54 +594,3 @@ impl i8088 {
     LittleEndian::read_u16(buf)
   }
 }
-
-impl From<u16> for Flags {
-  fn from(flags: u16) -> Self {
-    Self {
-      cf: flags & 1       != 0,
-      pf: flags & 1 << 2  != 0,
-      af: flags & 1 << 4  != 0,
-      zf: flags & 1 << 6  != 0,
-      sf: flags & 1 << 7  != 0,
-      tf: flags & 1 << 8  != 0,
-      ie: flags & 1 << 9  != 0,
-      df: flags & 1 << 10 != 0,
-      of: flags & 1 << 11 != 0,
-    }
-  }
-}
-
-impl From<Flags> for u16 {
-  fn from(flags: Flags) -> Self {
-    0b1111_0000_0010_1010  // Not sure what all reserved bits should be, but it shouldn't matter
-      | (flags.cf as u16)
-      | (flags.pf as u16) << 2
-      | (flags.af as u16) << 4
-      | (flags.zf as u16) << 6
-      | (flags.sf as u16) << 7
-      | (flags.tf as u16) << 8
-      | (flags.ie as u16) << 9
-      | (flags.df as u16) << 10
-      | (flags.of as u16) << 11
-  }
-}
-
-impl Debug for Flags {
-  fn fmt(&self, fmt: &mut Formatter) -> Result<(), std::fmt::Error> {
-    use std::fmt::Write;
-    fmt.write_str("[ ")?;
-    for flag in [ (self.cf, "CF "),
-                  (self.pf, "PF "),
-                  (self.af, "AF "),
-                  (self.zf, "ZF "),
-                  (self.sf, "SF "),
-                  (self.tf, "TF "),
-                  (self.ie, "IF "),
-                  (self.df, "DF "),
-                  (self.of, "OF ") ].iter() {
-      if flag.0 { fmt.write_str(flag.1)? };
-    }
-    fmt.write_char(']')?;
-    Ok(())
-  }
-}
diff --git a/src/emu/mod.rs b/src/emu/mod.rs
index 8c5f47f..271d11b 100644
--- a/src/emu/mod.rs
+++ b/src/emu/mod.rs
@@ -2,6 +2,7 @@ extern crate byteorder;
 extern crate num_traits;
 
 pub mod dos;
+mod flags;
 pub mod i8088;
 mod operands;
 mod operations;
diff --git a/src/emu/operations.rs b/src/emu/operations.rs
index 1d1c461..470e92b 100644
--- a/src/emu/operations.rs
+++ b/src/emu/operations.rs
@@ -2,7 +2,8 @@ use std::convert::Into;
 use std::fmt::Debug;
 
 use emu::dos;
-use emu::i8088::{Flags, RepPrefix, i8088};
+use emu::flags::Flags;
+use emu::i8088::{RepPrefix, i8088};
 use emu::operands::{Address, DynLValue, FarPtr, LValue, Operand, Reg, RValue};
 use emu::pc::Bus;