Company: SGBAF
Filing Date: 2025-04-01
Form Type: DRS/A
Source: 0000950123-25-003272
Chunk: 215

Company: SES S.A.
Filing Date: 2025-04-01
Form: DRS/A
Chunk 215
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 primarily due to depreciation expense on finance leases that commenced during the third quarter of 2023 and new satellites and other property and equipment placed into service, partially offset by certain satellites and various building related and other assets becoming fully depreciated. Satellite Impairment Intelsat recognized an impairment charge of $100.9 million for the year ended December 31, 2022 related to the Intelsat 33e satellite, with no comparable amount for the year ended December 31, 2024. See Note 6—Satellites and Other Property and Equipment of the Intelsat audited financial statements for the year ended December 31, 2024 included elsewhere in this prospectus for further discussion. Impairment of Goodwill and Other Intangible Assets Intelsat recognized an impairment charge of $290.7 million for the year ended December 31, 2024 related to goodwill, as compared to an impairment charge of $6.4 million for the year ended December 31, 2023 related to certain supplemental type certificates and other assets. See Note 7—Goodwill and Other Intangible Assets of the Intelsat audited financial statements for the year ended December 31, 2024 included elsewhere in this prospectus for further discussion. Other Operating Income, Net—C-band Other operating income, net—C-bandconsists of reimbursable and non-reimbursablecosts and offsetting income associated with Intelsat’s C-bandspectrum relocation efforts. Other operating income, net—C-banddecreased by $356.9 million, 55% to $287.0 million for the year ended December 31, 2024, as compared to $643.9 million for the year ended December 31, 2023, primarily due to a decrease in the recognition of reimbursement income of $416.6 million, partially offset by a decrease of $59.7 million in expenditures as a result of Intelsat completing the C-band spectrum clearing project in 2023. See Note 1—Background and Summary of Significant Accounting Policies of the Intelsat audited financial statements for the year ended December 31, 2024 included elsewhere in this prospectus for further discussion. Interest Expense Interest expense decreased by $170.2 million, or 39%, to $267.2 million for the year ended December 31, 2024, as compared to $437.4 million for the year ended December 31, 2023, primarily due