Company: SGBAF
Filing Date: 2025-04-29
Form Type: F-4
Source: 0001193125-25-103898
Chunk: 213

Company: SES S.A.
Filing Date: 2025-04-29
Form: F-4
Chunk 213
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 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, and 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 post-tax cash flows from the CGU and to choose a suitable post-tax discount rate and terminal growth rate to calculate the present value of those cash flows. These are described in Note 16 to SES’s consolidated financial statements. 173

For SES’s satellites including those under construction, the estimation of the value-in-use requires 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-orbit anomalies and their potential impact on the satellite’s ability to provide its expected commercial service. These are described in Notes 14 and 15 to SES’s consolidated financial statements.

Tax and legal matters

SES applies
estimates and judgements in respect of certain taxation and legal matters.

SES operates in numerous tax jurisdictions and management is
required to assess tax issues and exposures across its entire operations and to accrue for potential liabilities based on its interpretation of country-specific tax law and best estimates. Also, judgement needs to be applied in respect of transfer
pricing structures and hence potential tax exposures which may be identified in the different jurisdictions where SES operates. SES reviews in detail the transfer pricing structures in place and records provisions where this seems appropriate on a case-by-case basis.

SES recognizes deferred tax assets
primarily in connection with the carry-forward of unused tax losses and tax credits. SES