COMMISSION 
AGENDA MEMORANDUM                        Item No.          9b 
BRIEFING ITEM                             Date of Meeting     September 11, 2018 
DATE:     August 9, 2018 
TO:        Steve Metruck, Executive Director 
FROM:    Dan Thomas, Chief Financial Officer 
Michael Tong, Asst. Finance Director  Budget 
SUBJECT:  Q2 2018 Financial Performance Briefing 
EXECUTIVE SUMMARY 
The purpose of this presentation is to provide a status report of the Q2 2018  financial
performance results. 
BACKGROUND 
The Port's overall operating revenues for Q2 2018 were $330.5 million, which is $12.7 million
above budget and $28.4 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 $182.9 million, which is $9.9 million above budget and also $8.6 million higher
than 2017 levels primarily due to higher revenues from Public Parking, Rental Cars, Airport
Dining and Retail, Ground Transportation, Cruise, Recreational Boating, and Conference &
Event Centers. 
Total operating expenses for first half of 2018 were $191.6 million, which is $17.3 million below
budget but $17.5 million higher than 2017. 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 $138.9 million, which is $30.0 million above 
budget and $10.9 million higher than 2017. 
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 


Template revised September 22, 2016.

COMMISSION AGENDA  Briefing Item No. _9b__                              Page 2 of 2 
Meeting Date: September 11, 2018 
ATTACHMENTS TO THIS BRIEFING 
(1)    Q2 2018 Financial and Performance Report 
(2)    Presentation slides 
PREVIOUS COMMISSION ACTIONS OR BRIEFINGS 
None 
















Template revised September 22, 2016.