PORT OF SEATTLE 
MEMORANDUM 
COMMISSION AGENDA               Item No.      7e 
STAFF BRIEFING 
Date of Meeting      May 17, 2016 
DATE:    April 22, 2016 
TO:     Ted Fick, Chief Executive Officer 
FROM:    Dan Thomas, Chief Financial Officer 
Michael Tong, Asst. Finance Director - Budget 
SUBJECT:  First Quarter Financial Performance Briefing 

SYNOPSIS 
The purpose of this presentation is to provide a status report the first quarter of the 2016
financial performance results. 
BACKGROUND 
The Port's overall operating revenues for the first quarter of 2016 were $129.3 million,
which is $2.8 million above budget and $4.1 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 $73.4, which is $3.7 million above 
budget and $4.1 million higher than 2015 levels primarily due to higher revenues from
Public Parking, Rental Cars, Employee Parking, Ground Transportation, Maritime
Operations, and Licensed NWSA Assets. 
Total operating expenses for the first quarter of 2016 were $69.7 million, which is $10.7 
million, or 13.3%, 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 $59.6 million, which is $13.5 million, or
29.4%, 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 
April 22, 2016 
Page 2 of 2 
ATTACHMENTS TO THIS BRIEFING 
Q1 2016 Financial and Performance Report. 
PowerPoint presentation. 
PREVIOUS COMMISSION ACTIONS OR BRIEFINGS 
None