Company: SGBAF
Filing Date: 2025-05-08
Form Type: F-4/A
Source: 0001193125-25-115825
Chunk: 402

Company: SES S.A.
Filing Date: 2025-05-08
Form: F-4/A
Chunk 402
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 allocation between lease components and also between the lease and non-lease components, as the non-lease components are the predominant components of the combined components of our sales-type leases. ASC 606, Revenue from Contracts with Customers (“ASC 606”) is applied to the combined lease
and non-lease components. Leases with an expected term of 12 months or less are not accounted for on the balance sheet and the related lease expense is recognized on a straight-line basis over the expected
lease term. See Note 10—Leases for further details.

(v) Recently Adopted and Recently Issued Accounting Pronouncements

In March 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-01, Leases (Topic 842): Common Control Arrangements (“ASU 2023-01”). The standard requires entities to amortize leasehold improvements associated with
common control leases over the useful life to the common control group. We adopted ASU 2023-01 in the first quarter of 2024, on a prospective basis for all new arrangements. The adoption did not have a
material impact on our consolidated financial statements and associated disclosures.

In August 2023, the FASB issued ASU 2023-05, Business Combinations—Joint Venture Formations (Subtopic 805-60):Recognition and Initial Measurement (“ASU
2023-05”). The standard requires a joint venture to initially measure all contributions received upon its formation at fair value. We adopted ASU 2023-05 in the
first quarter of 2024, on a prospective basis for all new arrangements. The adoption did not have a material impact on our consolidated financial statements and associated disclosures.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”), to address investor requests for more transparency about income tax information through improvements to income tax disclosures primarily related to the rate
reconciliation and income taxes paid information. ASU 2023-09 will be effective for the Company for annual periods beginning after December 15, 2024, though early adoption is permitted. We are in the
process of evaluating the impact that ASU 2023-09 will have on our consolidated financial statements and associated disclosures.

F-117

Subsequent Events The Company has evaluated subsequent events from the balance sheet date through