Net Operating Losses and EV

Would it be fair to say that net operating losses should be reduced in the EV formula because they are non-operating assets that therefore wouldn't affect the free cash flows that the company would generate by operating? And that they also represent savings in tax expenses in the future and therefore reduce the theoretical takeover price of the company that EV represents? 

Equity value would also have to account for it implicitly, but because EV is considered with the theoretical "takeover price" an acquirer would have to pay, we have to strip all non-operating assets, like cash, long-term assets such as vacant land, idle equipment, and recreational properties, and equity investments in other companies. 

On another note, the 400 BIWS say that "some" operating leases have to be converted to capital leases as well. I'm aware of the fact that, if the denominator in the multiple is EBITDAR, you'd have to sum the discounted future operating leases as EBITDAR represents cash flows available to equity, preferred, debt, and operating lessors. But are there scenarios where certain types of operating leases would have to be converted to capital leases? 

Would find any insight/correction of the above useful.