Company: SGBAF
Filing Date: 2025-01-17
Form Type: DRS/A
Source: 0000950123-25-000378
Chunk: 218

Company: SES S.A.
Filing Date: 2025-01-17
Form: DRS/A
Chunk 218
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 with a prepayment contain a significant financing component; |

| • |     | whether an arrangement should be reported gross as a principal versus net as an agent; and |

| • |     | whether an arrangement contains a service contract or a lease. |

147

Confidential Treatment Requested by SES

Pursuant to 17 C.F.R. Section 200.83

In addition, Intelsat’s revenue recognition policy requires an assessment as to whether
collection is reasonably assured, which requires it to evaluate the creditworthiness of its customers. Changes in judgments in making these assumptions and estimates could materially impact the timing and/or amount of revenue recognition.

Allowance for Credit Losses. Intelsat’s allowance for credit losses is determined through a subjective evaluation of the aging of
its accounts receivable, and considers such factors as the likelihood of collection based upon an evaluation of the customer’s creditworthiness, the customer’s payment history and other conditions or circumstances that may affect the
likelihood of payment, such as political and economic conditions in the country in which the customer is located. If Intelsat’s estimate of the likelihood of collection is not accurate, Intelsat may experience lower revenue or a change in its
provision for credit losses.

Asset Impairment Assessments

Intelsat’s accounting policies on goodwill, other non-amortizable intangible assets and long-lived
assets, including events that lead to possible impairment, are described in detail in Note 1—Background and Summary of Significant Accounting Policies of the Intelsat audited financial statements for the period ended December 31, 2023
included elsewhere in this prospectus. Intelsat makes considerable judgments in its impairment evaluations of goodwill, other non-amortizable intangible assets and long-lived assets, starting with determining
if an impairment indicator exists. Intelsat exercises judgment in determining if these indicators or events represent an impairment indicator requiring the computation of the fair value of goodwill and other
non-amortizable intangible assets and/or the recoverability of long-lived assets. The fair value determination is typically the most judgmental part in an impairment evaluation.

As part of the impairment evaluation process, management analyzes the sensitivity of fair value to various underlying assumptions. The level
of scrutiny increases as the gap between fair value and carrying amount decreases. Changes in any of these assumptions could result in management reaching a different conclusion regarding the potential impairment, which could be material.
Intelsat’s impairment evaluations inherently involve uncertainties from uncontrollable events that could positively or negatively