Company: SGBAF
Filing Date: 2025-04-01
Form Type: DRS/A
Source: 0000950123-25-003272
Chunk: 250

Company: SES S.A.
Filing Date: 2025-04-01
Form: DRS/A
Chunk 250
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 of the historical impairment charges recognized.

Income Taxes

Intelsat accounts
for income taxes in accordance with ASC 740. Intelsat is subject to income taxes in Luxembourg, as well as the United States and a number of other foreign jurisdictions. Significant judgment is required in the calculation of Intelsat’s tax
provision and the resulting tax liabilities and in the recoverability of its deferred tax assets that arise from temporary differences between the tax and financial statement recognition of revenue and expense and net operating loss and credit
carryforwards.

Intelsat regularly assess the likelihood that its deferred tax assets can be recovered. A valuation allowance is required
when it is more likely than not that all or a portion of the deferred tax asset will not be realized. Intelsat evaluates the recoverability of its deferred tax assets based on all available positive and negative evidence, including future reversals
of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If Intelsat determines that it is able to realize its deferred tax assets
in the future in excess of their net recorded amount, Intelsat will make an adjustment to the deferred tax asset valuation allowance, which reduces the provision for income taxes.

During the ordinary course of business, there are transactions and calculations for which the ultimate tax determination is uncertain.
Intelsat evaluates its tax positions to determine if it is more likely than not that a tax position is sustainable, based solely on its technical merits and presuming the taxing authorities have full knowledge of the position and access to all
relevant facts and information. When a tax position does not meet the more likely than not standard, Intelsat records a liability or contra asset for the entire amount of the unrecognized tax impact. Additionally, for those tax positions that are
determined more likely than not to be sustainable, Intelsat measures the tax position at the largest amount of benefit more likely than not (determined by cumulative probability) to be realized upon settlement with the taxing authority.

179

Confidential Treatment Requested by SES

Pursuant to 17 C.F.R. Section 200.83

Pension and Other Postretirement Benefits

Intelsat maintains a noncontributory defined benefit retirement plan covering substantially all of its employees hired prior to July 19,
2001. The cost of providing benefits to eligible participants under the defined benefit retirement plan is calculated using the plan’s benefit formulas, which take into account the participants’ remuneration, dates of hire, years of