COMMISSION 
AGENDA MEMORANDUM                        Item No.          9c 
BRIEFING ITEM                            Date of Meeting       March 12, 2019 
DATE:     February 26, 2019 
TO:        Stephen P. Metruck, Executive Director 
FROM:    Dan Thomas, Chief Financial Officer 
Michael Tong, Asst. Finance Director  Budget 
SUBJECT:  2018 Financial Performance Briefing 
EXECUTIVE SUMMARY 
The purpose of this presentation is to provide a status report of the 2018 financial performance
results. 
BACKGROUND 
The Port's operating results for 2018 were very strong .Total operating revenues were $689.4 
million, which is $18.9M above budget and $57.4M higher than 2017 primarily due to higher
revenues from Public Parking, Rental Cars, Airport Dining and Retail, Ground Transportation,
Cruise, Fishing Operations and Conference & Event Centers. 
Total operating expenses were $397.6M, $25.2M below budget mainly due to staffing
vacancies, outside services and a $15.6M Washington State Department of Retirement Systems
(DRS) Pension True-up credit. 
Net operating income before depreciation was $291.8 million, which is $44.2 million above 
budget and $32.7 million higher than 2017 actuals. 
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.  Central Services Operating Results 
ATTACHMENTS TO THIS BRIEFING 
(1)   2018 Financial and Performance Report 
(2)   Presentation slides 

Template revised September 22, 2016.

COMMISSION AGENDA  Briefing Item No. 9c                                  Page 2 of 2 
Meeting Date: March 12, 2018 
PREVIOUS COMMISSION ACTIONS OR BRIEFINGS 
None 

















Template revised September 22, 2016.