PORT OF SEATTLE 
MEMORANDUM 
COMMISSION AGENDA               Item No.       7f 
STAFF BRIEFING 
Date of Meeting     August 23, 2016 
DATE:    August 2, 2016 
TO:     Ted Fick, Chief Executive Officer 
FROM:    Dan Thomas, Chief Financial Officer 
Michael Tong, Asst. Finance Director - Budget 
SUBJECT:  Second Quarter Financial Performance Briefing 
SYNOPSIS 
The purpose of this presentation is to provide a status report the second quarter of the
2016 financial performance results. 
BACKGROUND 
The Port's overall operating revenues for the second quarter of 2016 were $279.4 million,
which is $5.7 million above budget and $11.0 million higher than the same period last
year. Excluding Aeronautical revenues, which are based on cost recovery and revenue
sharing formulas, other operating revenues were $161.7 million, which is $9.4 million
above budget and also $9.4 million higher than 2015 levels primarily due to higher
revenues from Public Parking, Rental Cars, Airport  Dining and Retail, Ground
Transportation, Employee Parking, Maritime Operations, and Licensed NWSA Assets. 
Total operating expenses for the second quarter of 2016 were $147.9 million, which is
$20.7 million, or 12.3%, below budget. The operating expense variance was largely due
to delays in hiring, vacant positions, timing of spending, and some actual budget savings. 
Operating income before depreciation was $131.5 million, which is $26.5 million, or
25.2%, over budget. 
Each division will present its results to the Commission. The presentation outline is as
follows: 
1.     Portwide Operating Results 
2.     Aviation Division Operating Results
3.     Maritime Division Operating Results 
4.     Economic Development Division Operating Results 
5.     Corporate Operating Results 


Template revised May 30, 2013.

COMMISSION AGENDA 
Ted Fick, Chief Executive Officer 
August 2, 2016 
Page 2 of 2 
ATTACHMENTS TO THIS BRIEFING 
Q2 2016 Financial and Performance Report. 
PowerPoint presentation. 
PREVIOUS COMMISSION ACTIONS OR BRIEFINGS 
None