Try dividing $25,000,000,000 by 1,700,000,000 shares to get possible effect on commons. Of course, this would be the case if the subs were SOLD for $25 billion, then corporate taxes would be paid by WMI. The full $25 B would not hit the bottom line. Fair market value of $25 billion is not reflected in the GAAP financial statments. The FS reflect cost of the subs, not FMV.