Company: SGBAF
Filing Date: 2025-04-23
Form Type: DRS/A
Source: 0000950123-25-003652
Chunk: 268

Company: SES S.A.
Filing Date: 2025-04-23
Form: DRS/A
Chunk 268
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 make estimates and assumptions that affect reported
amounts and related disclosures. Intelsat considers an accounting estimate to be critical if: (1) it requires assumptions to be made that were uncertain at the time the estimate was made; and (2) changes in the estimate, or selection of
different estimates, could have a material effect on Intelsat’s consolidated results of operations or financial condition.

Intelsat
believes that some of the more important estimates and related assumptions that affect Intelsat’s financial condition and results of operations are in the areas of fresh start and bankruptcy accounting, revenue recognition, the allowance for
credit losses, asset impairments, income taxes and pension and other postretirement benefits.

While Intelsat believes that its estimates,
assessments, assumptions, and judgments are reasonable, they are based on information presently available. Actual results may differ significantly. Additionally, changes in Intelsat’s estimates, assessments, assumptions, or judgments as a
result of unforeseen events or otherwise could have a material impact on Intelsat’s financial position or results of operations.

Intelsat’s significant accounting policies are described in Note 1—Background and Summary of Significant Accounting Policies of the
Intelsat audited financial statements for the year ended December 31, 2024 included elsewhere in this prospectus.

Fresh Start and Bankruptcy Accounting

Upon emergence from bankruptcy, Intelsat adopted Fresh Start Accounting in accordance with Accounting Standards
Codification (“ASC”) 852, Reorganizations (“ASC 852”). A newly created entity, Intelsat S.A. became Intelsat’s ultimate parent company for financial reporting purposes. Intelsat evaluated the events between
Intelsat’s emergence from bankruptcy on February 23, 2022 (the “Effective Date”) and February 28, 2022, and concluded that the use of an accounting convenience date of February 28, 2022 (“Fresh Start Reporting
Date”) would not have a material impact on Intelsat’s consolidated statements of operations or consolidated balance sheet. As a result, the consolidated financial statements after the Fresh Start Reporting Date are not comparable with the
consolidated financial statements on or before that date. See Note 3—Fresh Start Accounting of the Intelsat audited financial statements for the year ended December 31, 2024 included elsewhere in this prospectus.

During the Predecessor period, Intelsat’s consolidated financial statements included herein were prepared as if Intelsat was a going
concern