Company: SGBAF
Filing Date: 2025-04-01
Form Type: DRS/A
Source: 0000950123-25-003272
Chunk: 416

Company: SES S.A.
Filing Date: 2025-04-01
Form: DRS/A
Chunk 416
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2023, and year ended
December 31, 2024, we recognized revenues of $60.2 million, $170.1 million, and $236.3 million, and $249.1 million, respectively, that were included in the contract liability balances as of the beginning of each respective
year.

Assets Recognized from the Costs to Obtain a Customer Contract

We recognize an asset for the incremental costs of obtaining a contract with a customer if we expect the benefit of those costs to be longer
than one year. We have determined that our sales incentive program meets the requirements to be capitalized due to the incremental nature of the costs and the expectation that the Company will recover such costs. The assets recognized from the costs
to obtain a customer contract are amortized over a period that is consistent with the transfer to the customer of the services to which the asset relates. For the two months ended February 28, 2022, ten months ended December 31, 2022, year
ended December 31, 2023, and year ended December 31, 2024, we capitalized $1.0 million, $10.5 million, $7.7 million, and $7.3 million, respectively, of costs to obtain a customer contract, respectively, and
amortized $0.7 million, $1.7 million, $5.2 million, and $6.9 million, respectively. As of December 31, 2023 and 2024, capitalized costs to obtain a customer contract amounted to $11.5 million and $11.9 million,
respectively, and are included within “Other assets” in our consolidated balance sheets.

Contract Modifications

Contracts are often modified to account for changes in contract specifications or requirements. We consider contract modifications to exist
when the modification either creates new or changes existing enforceable rights and obligations of either party. Most of our contract modifications are for goods and services that are distinct from the existing contract, as they consist of
additional months of service priced at the Company’s standalone selling prices of the additional services and are therefore treated as separate contracts. When contract modifications are for goods and services that are distinct from the
existing contract but not priced at the

F-134

Confidential Treatment Requested by SES

Pursuant to 17 C.F.R. Section 200.83

Company’s standalone selling prices, the modification is accounted for as a termination of the existing contract and the creation of a new contract. For