COMMISSION 
AGENDA MEMORANDUM                        Item No.          7b 
BRIEFING ITEM                            Date of Meeting     September 12, 2017 
DATE:     August 18, 2017 
TO:        Dave Soike, Interim Chief Executive Officer 
FROM:    Dan Thomas, Chief Financial Officer 
Michael Tong, Asst. Finance Director  Budget 
SUBJECT:  Second Quarter Financial Performance Briefing 
EXECUTIVE SUMMARY 
The purpose of this presentation is to provide a status report the second quarter of the 2017
financial performance results. 
BACKGROUND 
The Port's overall operating revenues for the second quarter of 2017 were $302.1 million,
which is $11.8 million above budget and $22.7 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 $174.3 million, which is $14.1 million above budget
and also $12.7 million higher than 2016 levels primarily due to higher revenues from Public
Parking, Airport Dining and Retail, Ground Transportation, Airport Commercial Properties,
Cruise, and Grain. 
Total operating expenses for the second quarter of 2017 were $174.1 million, which is $17.4 
million, or 9.1%, 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 $128.0 million, which is $29.2 million, or 29.5%,
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 September 22, 2016.

COMMISSION AGENDA  Briefing Item No. ____                                Page 2 of 2 
Meeting Date: September 12, 2017 
ATTACHMENTS TO THIS BRIEFING 
(1)   Q2 2017 Financial and Performance Report 
(2)   Presentation slides 
PREVIOUS COMMISSION ACTIONS OR BRIEFINGS 
None 
















Template revised September 22, 2016.