Company: SGBAF
Filing Date: 2025-01-17
Form Type: DRS/A
Source: 0000950123-25-000378
Chunk: 413

Company: SES S.A.
Filing Date: 2025-01-17
Form: DRS/A
Chunk 413
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 options. The lease was modified in the fourth quarter of 2023 with no changes to the expiration date or the two two-yearrenewal options. We evaluated the lease and determined that it contains lease and non-leasecomponents. No net investment is recorded in the sales-type lease and no interest income will be recorded under the lease as consideration was received upfront. For the year ended December 31, 2023, the Company recorded revenue and direct costs of revenue of $2.9 million and $4.0 million, respectively, resulting in net loss at commencement of the sales-type lease of approximately $1.1 million. The Company recorded a cumulative net investment in sales-type leases of approximately $8.4 million as of December 31, 2023, of which $1.3 million was included within “Prepaid expenses and other current assets” and $7.1 million was included within “Other assets” in the consolidated balance sheets. The carrying value of the lease receivables approximates the net investments in the leases. As of December 31, 2023, the Company expects to receive approximately $8.4 million of lease payments over the remaining term of the service agreements, of which $1.3 million, $1.3 million, $1.3 million, $1.3 million, $1.3 million, and $1.9 million are expected to be received in 2024, 2025, 2026, 2027, 2028 and thereafter, respectively. Note 12—Share-Based and Other Compensation Plans As a part of our reorganization proceedings, all of our share-based compensation awards outstanding as of December 31, 2021 were canceled, which resulted in the recognition of any previously unamortized expense related to the canceled awards on the date of cancellation. Share-based compensation for the Predecessor and Successor Periods is not comparable. Predecessor Share-Based Compensation In April 2013, our board of directors adopted the amended and restated Intelsat Global, Ltd. 2008 Share Incentive Plan (as amended, the “2008 Equity Plan”). Also in April 2013, our board of directors adopted the Intelsat S.A. 2013 Equity Incentive Plan (the “2013 Equity Plan”). No new awards may be granted under the 2008 Equity Plan. The 2013 Equity Plan provides for a variety of equity-based awards, including incentive stock options (within the