Company: SGBAF
Filing Date: 2025-01-17
Form Type: DRS/A
Source: 0000950123-25-000378
Chunk: 186

Company: SES S.A.
Filing Date: 2025-01-17
Form: DRS/A
Chunk 186
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 liabilities and the disclosure of contingent liabilities at the date of the financial statements. The most significant estimates and assumptions include: Revenue recognition Revenue is measured based on the consideration to which the SES expects to be entitled in a contract with a customer and excludes amounts collected on behalf of third parties. SES recognizes revenue as and when control of a good or service is transferred to a customer. For SES’s contracts to provide satellite capacity, communications infrastructure services, and related services, SES makes the services available to customers in a series of time periods that are distinct and have the same pattern of transfer to the customer. Revenue from customers under service agreements for these services is generally recognized on a straight-line basis over the duration of the respective contracts, including any free-of-chargeperiods. Using a straight-line measure of progress most faithfully depicts SES’s performance because SES makes available a consistent level of capacity over each distinct time period. For certain performance obligations, a cost-based input method is used to recognize revenue if it was determined that a basis reflecting the costs incurred to date relative to the total costs expected to be incurred better reflects the pattern of transfer of control of the services to the customer. Revenue will cease to be recognized if there is an indication of a significant deterioration in a customer’s ability to pay for the remaining goods or services. Impairment testing for goodwill, other indefinite-life intangible assets, space segment assets including assets under construction SES determines whether goodwill and other indefinite-life intangible assets are impaired at least on an annual basis. The key assumptions used in respect of goodwill and other indefinite-life intangible assets impairment testing are the determination of cash-generating units (“CGU”) and the estimation of their value-in-use.Establishing the value-in-userequires SES to make an estimate of the expected future pre-taxcash flows from the CGU and to choose a suitable pre-taxdiscount rate and terminal growth rate to calculate the present value of those cash flows. These are described in Note 15 to SES’s consolidated financial statements. For SES’s satellites including those under construction, the estimation of the value-in-userequires estimations of the future commercial revenues to be generated by each satellite, particularly related to new markets or services and the impact of past in-orbitanomalies and their potential impact on the satellite’s ability to provide its expected commercial service. These are described in Notes 13 and 14 to SES’s consolidated financial statements. Tax and legal matters SES applies estimates and judgements in respect of certain taxation and legal matters. 126

Confidential Treatment Requested