26 Georgia Ports Annual Report 2025 As of June 30, 2025, 2024, and 2023 Georgia Ports Authority Condensed Statements of Net Position (In thousands) 2025 2024 2023 Assets: Current assets $ 1,403,063 $ 1,546,621 $ 1,826,455 Capital assets 3,129,622 2,773,509 2,350,694 Other long-term assets 313,757 292,978 173,307 Total assets $ 4,846,442 $ 4,613,108 $ 4,350,458 Deferred outflows of resources $31,954 $45,846 $44,309 Liabilities: Current liabilities Other non-current liabilities 1,327,158 1,362,079 1,392,644 Total liabilities $ 1,512,597 $ 1,525,046 $ 1,542,208 Deferred inflows of resources $ 288,036 $ 278,349 $ 157,224 Net position: Net investment in capital assets $ 2,045,322 $ 1,931,936 $ 1,775,321 Restricted for debt service 16,350 16,160 15,980 Unrestricted 1,015,721 907,463 904,032 Total net position $ 3,077,403 $ 2,855,559 $ 2,695,333 For the fiscal years ended June 30, 2025, 2024, and 2023 Georgia Ports Authority Condensed Statements of Revenues, Expenses and Changes in Net Position (In thousands) 2025 2024 2023 Operating revenues $ 798,854 $ 698,661 $ 753,914 Operating expenses 590,711 527,737 492,213 Operating income 208,143 170,924 261,701 Non-operating income (expense) (8,871) (16,393) 50,963 Income before capital contributions 199,272 154,531 312,664 Capital contributions repaid to the state of Georgia — — (60,534) Extraordinary item — — — Capital contributions 22,572 5,695 19,599 Change in net position $ 221,844 $ 160,226 $ 271,729 Condensed Statements of Cash Flows Cash flows from operating activities $ 355,217 $ 269,855 $ 419,324 Cash flows from investing activities 66,417 83,040 60,198 Cash flows from non-capital financing activities (21,880) (11,616) (845) Cash flows from capital and related financing activities (566,157) (642,806) 164,544 Net increase (decrease) in cash and cash equivalents (166,403) (301,527) 643,221 Balances — Beginning of the year 1,432,356 1,733,883 1,090,662 Balances — End of the year $ 1,265,953 $ 1,432,356 $ 1,733,833 $ 185,799 $ 162,967 $ 149,564
