PORT OF SEATTLE 
MEMORANDUM 
COMMISSION AGENDA                      Item No.         7b 
STAFF BRIEFING 
Date of Meeting      February 25, 2014 
DATE:      February 7, 2014 
TO:       Tay Yoshitani, Chief Executive Officer 
FROM:     Dan Thomas, Chief Financial and Administrative Officer 
Michael Tong, Corporate Budget Manager 
SUBJECT:   2013 Financial Performance Briefing 

SYNOPSIS 
The purpose of this presentation is to provide a status report of the 2013 financial
performance results and an update on uses of tax levy. 
BACKGROUND 
The Port's overall operating revenues for 2013 were $544.7 million, which is $9.0 
million over budget and $23.0 million higher than 2012 mainly due to higher revenues
from Concessions, Public Parking, Rental Cars, and Seaport Industrial Properties;
partially offset by lower revenues from Container, Grain, Conference & Event Centers,
and Utilities. 
Total operating expenses for 2013 were $307.1 million, which is $17.0 million, or 5.3%,
below budget. The operating expense variance was largely due to delays in hiring, some
vacant positions, and other budget savings. All divisions and Corporate were under
budget for 2013. 
Operating income before depreciation was $237.6 million, which is $26.1 million, or
12.3%, over budget. Operating income after depreciation was $66.2 million, which is
$26.2 million, or 65.6%, higher than budget. 
Each division will present its results to the Commission. The presentation outline is as
follows: 
1.  Aviation Division Operating Results
2.  Seaport Division Operating Results 
3.  Real Estate Division Operating Results 
4.  Capital Development Division Operating Results 
5.  Corporate Operating Results 
6.  Portwide Operating Results 
7.  Uses of Tax Levy Update 
Template revised May 30, 2013.

COMMISSION AGENDA 
Tay Yoshitani, Chief Executive Officer 
February 7, 2014 
Page 2 of 2 

ATTACHMENTS TO THIS BRIEFING 
2013 Financial and Performance Report. 
PowerPoint presentation. 
PREVIOUS COMMISSION ACTIONS OR BRIEFINGS 
None