So depends on how we are playing...
Fun play where I am all about pleasure, I am thinking of my pleasure and how to keep her from hers until I am ready for her release.
Discipline is different. I am considering her infraction against previous infractions plus future ones that could occur if we don't extinquish this bad behavior. I am searching for the right level of submission/pain. I am calculating how to keep her from reaching her threshold so she doesn't forget the punishment yet not going on so long that we lose after care time.
I usually don't reflect on the gift of her body until later.