Company: SGBAF
Filing Date: 2025-04-29
Form Type: F-4
Source: 0001193125-25-103898
Chunk: 222

Company: SES S.A.
Filing Date: 2025-04-29
Form: F-4
Chunk 222
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 revenue relate to costs associated with the operation and control of Intelsat’s satellites, Intelsat’s communications network and engineering support, and the purchase of off-networkcapacity. Direct costs of revenue consist principally of third-party capacity and equipment, salaries and related employment costs, in-orbitinsurance, earth station operating costs and facilities costs. Intelsat’s direct costs of revenue fluctuate based on the number and type of services offered and under development, particularly as sales of off-networktransponder services and sales of customer premises equipment fluctuate. Intelsat expects its direct costs of revenue to increase as it adds customers and expand its managed services and use of off-networkcapacity. Direct costs of revenue related to Intelsat’s in-flightservices include network-related expenses (ATG and satellite network expenses, including costs for transponder capacity and backhaul, as well as data centers, network operations centers and network technical support), aircraft operations, component assembly, portal maintenance, revenue share and transactional costs. Direct costs of revenue for Intelsat’s in-flightequipment revenue primarily consists of the purchase costs for component parts used in the manufacture of its equipment and the production, installation, technical support and quality assurance costs associated with equipment sales. 182

Selling, General and Administrative Expenses Selling, general and administrative expenses relate to costs associated with Intelsat’s sales and marketing staff and its administrative staff, which include legal, finance, corporate information technology and human resources. Staff expenses consist primarily of salaries and related employment costs, including stock compensation, and travel costs. Selling, general and administrative expenses also include office occupancy costs, building maintenance and rent expenses, the provision for uncollectible accounts, research and development expenses and fees for professional services. Depreciation and Amortization Intelsat’s capital assets consist primarily of its satellites and associated ground network infrastructure, including Intelsat’s finance lease assets. Included in capitalized satellite costs are the costs for satellite construction, satellite launch services, insurance premiums for satellite launch and the in-orbittesting period, the net present value of deferred satellite performance incentives payable to satellite manufacturers, costs directly associated with the monitoring and support of satellite construction, and capitalized interest incurred during the satellite construction period. Capital assets are depreciated or amortized on a straight-line basis over their estimated useful lives. The remaining depreciable lives of Intelsat’s satellites range from less than one year to 18 years as of December 31, 2024. COMPARISON OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS