Company: SGBAF
Filing Date: 2025-01-17
Form Type: DRS/A
Source: 0000950123-25-000378
Chunk: 400

Company: SES S.A.
Filing Date: 2025-01-17
Form: DRS/A
Chunk 400
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 operations, and $13.1 million of cash proceeds. In December of 2023, we
purchased preferred shares in two separate companies at a total cost of $11.4 million. All of our investments in equity securities were recorded in “Other assets” in our consolidated balance sheets and had a total carrying value of
$40.0 million and $50.2 million as of December 31, 2022 and 2023, respectively.

(e) Loan Receivables

The Company had loan receivables of $56.4 million and $63.8 million as of December 31, 2022 and 2023, respectively, from certain
separate privately and publicly held companies that it is holding for long-term investment, which are presented within “Other assets” on our consolidated balance sheets at amortized cost, net of the allowance for credit losses. As of
December 31, 2022 and 2023, $0.9 million and $1.3 million, respectively, of accrued interest related to our loan receivables was recorded in “Prepaid expenses and other current assets” in our consolidated balance sheets. We
recognized interest income related to our loan receivables of $4.2 million, $0.7 million, $2.4 million and $6.6 million for the year ended December 31, 2021, two months ended February 28, 2022, ten months ended
December 31, 2022 and year ended December 31, 2023, respectively.

The fair value of loan receivables is evaluated on a loan-by-loan basis, and is determined based on assessments of discounted cash flows that are considered probable of collection. We consider these inputs to be Level 3
within the fair value hierarchy under ASC 820, Fair Value Measurements and Disclosure (“ASC 820”). The cumulative fair value of our loan receivables as of December 31, 2022 and 2023 was $57.2 million and
$65.1 million, respectively.

F-143

Confidential Treatment Requested by SES

Pursuant to 17 C.F.R. Section 200.83

Note 8—Goodwill and Other Intangible Assets

We account for goodwill and other non-amortizable intangible assets in accordance with ASC 350 and have
deemed these assets to have indefinite lives. Therefore, these assets are not amortized but are tested on an annual basis for