Company: SGBAF
Filing Date: 2025-04-01
Form Type: DRS/A
Source: 0000950123-25-003272
Chunk: 453

Company: SES S.A.
Filing Date: 2025-04-01
Form: DRS/A
Chunk 453
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 |                (6 | ) |     |           |               (78 | ) |     |   |                (3 | ) |     |   |               (22 | ) |
| Expiration of statute of limitations for the assessment of taxes |     |             |                 — |   |     |           |              (560 | ) |     |   |               (75 | ) |     |   |           (20,257 | ) |
| Balance at end of period                                         |     | $           |            67,275 |   |     | $         |            66,067 |   |     | $ |            73,589 |   |     | $ |            69,226 |   |

As of December 31, 2023 and 2024, our gross unrecognized tax benefits were $73.6 million and $69.2 million, respectively (including interest and penalties), of which $57.2 million and $53.0 million, respectively, if recognized, would affect our effective tax rate. As of December 31, 2023 and 2024, we recorded reserves for interest and penalties in the amounts of $3.2 million and $0.3 million as income tax expense and income tax benefit, respectively. We continue to recognize interest and, to the extent applicable, penalties with respect to the unrecognized tax benefits as income tax expense. Since December 31, 2023, the change in the balance of unrecognized tax benefits consisted of an increase of $6.0 million related to current year tax positions for the year ended December 31, 2024 and net increases of $9.9 million related to prior year tax positions for the year ended December 31, 2024. The increase in gross unrecognized tax benefits was partially offset by $20.3 million related to the expiration of the statute of limitations on the assessment of certain tax positions during the year ended December 31, 2024. We operate in various taxable jurisdictions throughout the world, and our tax returns are subject to audit and review from time to time. We consider Luxembourg, the U.S. and the UK to be our significant tax jurisdictions. Our subsidiaries in these jurisdictions are subject to income tax examination for periods after December 31, 2017. We believe that there are no jurisdictions in which the outcome of unresolved tax issues or claims is likely to be material to our results of operations, financial position or cash flows within the next twelve months. As described in Note 8