Company: SGBAF
Filing Date: 2025-05-08
Form Type: F-4/A
Source: 0001193125-25-115825
Chunk: 401

Company: SES S.A.
Filing Date: 2025-05-08
Form: F-4/A
Chunk 401
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 in which they are incurred and totaled $1.4 million, $9.7 million, $14.5 million and $14.4 million 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, respectively. F-116

(u) Leases

We determine if a contract is or contains a lease at inception or modification of a contract. A contract is or contains a lease if the contract
conveys the right to control the use of an identified asset for a period in exchange for consideration. Control over the use of the identified asset means the lessee has both (a) the right to obtain substantially all of the economic benefits
from the use of the asset and (b) the right to direct the use of the asset.

Operating and finance lease ROU assets and lease
liabilities are recognized based on the present value of future minimum lease payments over the expected lease term, at the commencement date. For leases in which the implicit rate is not readily determinable, we use our incremental borrowing rate
based on the information available at commencement date in determining the present value of future payments. The expected lease terms include options to extend or terminate the lease when it is reasonably certain the Company will exercise such
option. ROU assets include unpaid lease payments and exclude lease incentives and initial direct costs incurred. For our operating leases, we recognize lease expense for minimum lease payments on a straight-line basis over the lease term, and for
our finance leases, we recognize interest expense on the lease liability using the effective interest method and depreciation of the ROU assets on a straight-line basis over the lease term.

We have lease agreements with lease and non-lease components, which are generally combined, consistent
with our election of the practical expedient. For lease agreements in which the Company is the lessee, the Company accounts for the lease components (e.g. fixed payments including rent, real estate taxes and insurance costs) and non-lease components (e.g. common-area maintenance costs and managed service contracts) as a single lease component for all classes of underlying assets. Leases in which the Company is the lessor are also evaluated
for lease and non-lease components. In the event a sales-type lease is identified, this component is accounted for separately from lease and non-lease components that
meet the practical expedient to be combined. Judgment is required in determining the