COMMISSION 
AGENDA MEMORANDUM                        Item No.          9d 
BRIEFING ITEM                            Date of Meeting       March 13, 2018 
DATE:     February 23, 2018 
TO:        Steve Metruck, Executive Director 
FROM:    Dan Thomas, Chief Financial Officer 
Michael Tong, Asst. Finance Director  Budget 
SUBJECT:  2017 Financial Performance Briefing 
EXECUTIVE SUMMARY 
The purpose of this presentation is to provide a status report of the 2017 financial performance
results. 
BACKGROUND 
The Port's overall operating revenues for 2017 were $630.4 million, which is $10.1 million
above budget and $31.9 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 $367.9 million, which is $22.5 million above budget and also $13.7 million
higher than 2016 levels primarily due to higher revenues from Public Parking, Airport Dining
and Retail, Ground Transportation, Airport Commercial Properties, Cruise, and Conference &
Event Centers. 
Total operating expenses for 2017 were $371.3 million, which is $13.3 million below budget but
$46.0 million higher than 2016. 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 $259.1 million, which is $23.5 million above 
budget but $14.1 million lower than 2016. 
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. _9d__                              Page 2 of 2 
Meeting Date: March 13, 2018 
ATTACHMENTS TO THIS BRIEFING 
(1)   2017 Financial and Performance Report 
(2)   Presentation slides 
PREVIOUS COMMISSION ACTIONS OR BRIEFINGS 
None 
















Template revised September 22, 2016.