Company: SGBAF
Filing Date: 2025-04-01
Form Type: DRS/A
Source: 0000950123-25-003272
Chunk: 393

Company: SES S.A.
Filing Date: 2025-04-01
Form: DRS/A
Chunk 393
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 probability) to be realized upon settlement with the taxing authority.

(l) Foreign Currency Translation

Our functional currency is primarily the U.S. dollar, since substantially all customer contracts, capital expenditure contracts and operating
expense obligations are denominated in U.S. dollars. Assets and liabilities for entities with functional currencies other than the U.S. dollar are translated at the exchange rate on the balance sheet date. Revenue and expenses are translated at
average monthly rates of exchange prevailing during the period. We recognize differences on exchange arising on the settlement of the transactions denominated in currencies other than the U.S. dollar within “Other income (expense), net” in
our consolidated statements of operations.

(m) Comprehensive Income (Loss)

Comprehensive income (loss) consists of net income (loss) and other gains and losses affecting shareholders’ equity (deficit) that, under
U.S. GAAP, are excluded from net income (loss). Such items consist primarily of pension related activity.

(n) Share-Based Compensation

We account for share-based compensation expense in accordance with ASC 718,Compensation—Stock Compensation(“ASC
718”), which requires us to measure and recognize compensation expense in our financial statements based on the fair value at the date of grant for our share-based awards, which include restricted stock units (“RSUs”) and
stock options granted to certain employees and RSUs granted to certain eligible directors. We recognize compensation expense for these equity-classified awards over their requisite service period and adjust for forfeitures as they occur. See Note
12—Share-Based and Other Compensation Plans for further details.

(o) Deferred Satellite Performance Incentives

The cost of satellite construction may include an element of deferred consideration that we are obligated to pay to satellite manufacturers
over the lives of the satellites, provided the satellites continue to operate in accordance with contractual specifications. Historically, the satellite manufacturers have earned substantially all of these payments. Therefore, we account for these
payments as deferred financing. We capitalize the present value of these payments as part of the cost of the satellites and record a corresponding liability due to the satellite manufacturers. Interest expense is recognized on the deferred financing
and the liability is reduced as the payments are made.

(p) Derivative Instruments

We enter into derivative transactions primarily to manage our exposure to fluctuations in foreign exchange and interest rates. We employ risk
management strategies, which may include the use of foreign currency swaps,

F-115

Confidential Treatment Requested by SES Pursuant to 17 C.F.R. Section 200.83 interest