Company: SGBAF
Filing Date: 2025-01-17
Form Type: DRS/A
Source: 0000950123-25-000378
Chunk: 417

Company: SES S.A.
Filing Date: 2025-01-17
Form: DRS/A
Chunk 417
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 the U.S. Tax Cut and Jobs Act), and it further specifies that net operating losses arising in a taxable year beginning after December 31, 2017, and before January 1, 2021, are allowed as a carryback to each of the five taxable years preceding the taxable year of such losses. Modifications to the tax rules for the carryback of net operating losses and business interest limitations resulted in a federal tax refund of approximately $53.5 million as of December 31, 2023. On August 16, 2022, the U.S. government enacted the Inflation Reduction Act of 2022 (the “Inflation Reduction Act”), which includes, among other provisions, changes to the U.S. corporate income tax system, including a 15% minimum tax based on average adjusted financial statement income exceeding $1.0 billion for any three consecutive years preceding the tax year and a 1% excise tax on net repurchases of stock in excess of $1.0 million after December 31, 2022. We did not have a material financial impact from the Inflation Reduction Act during 2023. F-154

Confidential Treatment Requested by SES Pursuant to 17 C.F.R. Section 200.83 The following table summarizes our total income (loss) before income taxes (in thousands):

|                                            |     | Predecessor |   Year Ended 
 December 31, 
         2021 |   |     |   |   Two Months 
        Ended 
 February 28, 
         2022 |     | Successor |   Ten Months 
        Ended 
 December 31, 
         2022 |   |     |   |   Year Ended 
 December 31, 
         2023 |
|:-------------------------------------------|:----|:------------|-------------:|:--|:----|:--|-------------:|:----|:----------|-------------:|:--|:----|:--|-------------:|
| Domestic income (loss) before income taxes |     | $           |    1,343,625 |   |     | $ |    3,806,832 |     | $         |      269,396 |   |     | $ |      717,694 |
| Foreign income (loss) before income taxes  |     |             |      (48,990 | ) |     |   |      818,610 |     |           |     (343,373