Sears Holdings Corp. (fka SHLDQ)

[justthefactsmam]

chevy,

you said: "Keep in mind NOL's are not "tax credits""

but also keep in mind that part of the tax assets which were included in holdco's $5.2 billion purchase price were $900 million of what has been characterized as "mostly foreign" tax credits.

there is specific language in the apa docs indicating holdco is structuring transactions to be able to realize these tax credits.

as you suggested, nols serve to reduce taxable income while tax credits are a 1 for 1 reduction of taxes.