No, we are not in a worse condition. That was my point. The NOL's we have are not subject to an annual use limitation. Yes they are "only" $5+ billion, but that is a hell of a lot.
For example, in order to use up $5+billion in NOL's (it might be significantly more, btw) we would have to make $500 million in profits for 10 years. What should be the market cap of a company earning $500 million annually in after-tax profits? At least $10 billion. At least.
We are in a much better position with the 5+ we have than with the 17 or 26 or whatever that we gave up. That is why the choice was made to go with the 5+.
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