COMMISSION 
AGENDA MEMORANDUM                        Item No.          9c 
BRIEFING ITEM                             Date of Meeting      August 13, 2019 
DATE:     July 19, 2019 
TO:        Stephen P. Metruck, Executive Director 
FROM:    Dan Thomas, Chief Financial Officer 
Michael Tong, Director, Corporate Budget 
SUBJECT:  Q2 2019 Financial Performance Briefing 
EXECUTIVE SUMMARY 
The purpose of this presentation is to provide a status report of the Q2 2019  financial
performance results. 
BACKGROUND 
The Port's overall operating revenues for Q2 2019 were $368.2 million, which is $7.9 million
above budget and $37.7 million higher than the same period last year. Excluding Aeronautical
revenues, which are based on cost recovery and revenue sharing formulas, other Airport Non-
Aero revenues were $124.6 million, $3.6 million or 2.9% over budget and $5.7 million or 4.8%
higher YoY mainly due to higher revenues from ADR & Terminal Leased Space, Ground
Transportation, and Clubs & Lounges. 
Non-Airport revenues were $67.6 million, $5.4 million or 8.7% above budget were $3.6 million 
or 5.6% higher YoY mainly due to higher revenues from the NWSA Distributable Income and
Conference & Event Centers. 
Total operating expenses for first half of 2019 were $216.8 million, which is $16.0 million below
budget but $25.2 million higher than 2018. The operating expense variance was largely due to
delays in hiring, vacant positions, project delays, and some actual budget savings. 
Net operating income before depreciation was $151.4 million, which is $23.8 million above 
budget and $12.5 million higher than 2018. 
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 

Template revised April 12, 2018.

COMMISSION AGENDA  Briefing Item No. 9c                                  Page 2 of 2 
Meeting Date: August 13, 2019 
5.  Central Services Operating Results 
ATTACHMENTS TO THIS BRIEFING 
(1)   Q2 2019 Financial and Performance Report 
(2)   Presentation slides 
PREVIOUS COMMISSION ACTIONS OR BRIEFINGS 
None 















Template revised September 22, 2016.