Company: SGBAF
Filing Date: 2025-04-01
Form Type: DRS/A
Source: 0000950123-25-003272
Chunk: 212

Company: SES S.A.
Filing Date: 2025-04-01
Form: DRS/A
Chunk 212
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 expenses also include office occupancy costs, building maintenance and rent expenses, the provision for uncollectible accounts, research and development expenses and fees for professional services. Depreciation and Amortization Intelsat’s capital assets consist primarily of its satellites and associated ground network infrastructure, including Intelsat’s finance lease assets. Included in capitalized satellite costs are the costs for satellite construction, satellite launch services, insurance premiums for satellite launch and the in-orbittesting period, the net present value of deferred satellite performance incentives payable to satellite manufacturers, costs directly associated with the monitoring and support of satellite construction, and capitalized interest incurred during the satellite construction period. Capital assets are depreciated or amortized on a straight-line basis over their estimated useful lives. The remaining depreciable lives of Intelsat’s satellites range from less than one year to 18 years as of December 31, 2024. COMPARISON OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023 The following table sets forth Intelsat’s comparative statements of operations for the periods shown with the increase / (decrease) and percentage changes, except those deemed not meaningful (“NM”), between the periods presented (in thousands, except percentages):

|                                                                   |     |   |   Year Ended 
 December 31, 
         2023 |   |     |   |   Year Ended 
 December 31, 
         2024 |   |     | Comparison of 2023 to 
 2024                  |     Dollar 
     Change |   |     |     | Percentage 
 Change     |
|:------------------------------------------------------------------|:----|:--|-------------:|:--|:----|:--|-------------:|:--|:----|:----------------------|-----------:|:--|:----|:----|:-----------|
| Revenue                                                           |     | $ |    2,104,467 |   |     | $ |    1,985,732 |   |     | $                     |   (118,735 | ) |     |     | -6%        |
| Operating expenses:                                               |     |   |              |   |     |   |              |   |     |                       |            |   |     |     |            |
| Direct costs of revenue (excluding depreciation and amortization) |     |   |      833,756 |   |     |   |      827,093 |   |