Company: SGBAF
Filing Date: 2025-04-23
Form Type: DRS/A
Source: 0000950123-25-003652
Chunk: 419

Company: SES S.A.
Filing Date: 2025-04-23
Form: DRS/A
Chunk 419
---
. 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

Confidential Treatment Requested by SES Pursuant to 17 C.F.R. Section 200.83 Subsequent Events The Company has evaluated subsequent events from the balance sheet date through February 28, 2025, the date at which the consolidated financial statements were available to be issued. Note 2—Emergence from Chapter 11 Proceedings and Other Related Matters Emergence from Voluntary Reorganization under Chapter 11 On May 13, 2020, the Debtors commenced the Chapter 11 Cases under the Bankruptcy Code in the Bankruptcy Court. On February 11, 2021, the Debtors entered into a plan support agreement with certain of the Debtors’ prepetition secured and unsecured creditors. After entry into such plan support agreement, the Debtors continued to engage with their stakeholders, and on August 24, 2021, the Debtors entered into an amended plan support agreement (together with all exhibits and schedules thereto, the “PSA”) with certain of the Debtors’ prepetition secured and unsecured creditors (the “Consenting Creditors” and together with the Debtors, the “PSA Parties”). The PSA contains certain covenants on