MANAGEMENT’S DISCUSSION AND ANALYSIS (In Thousands) Financial Statements (Continued) Revenues, Expenses and Changes in Net Position: The following table illustrates the history of revenues, expenses and changes in net position for the past three years ending June 30, 2018, 2017, and 2016, respectively. 2018 2017 Operating revenues: Container cargo General cargo Liquid and dry bulk Operating revenues Operating expenses: Operation and maintenance of facilities General administration Depreciation Operating expenses Operating income Non-operating income (expense) Investment income Interest expense Noncapital contributions Noncapital port development expense Capital contributions repaid to the State Gain (loss) on sale/impairment of capital assets Other Non-operating expense, net Capital contributions Extraordinary items: Loss Due to Hurricane Matthew Gain on recovery from whse. fires Change in net position Total net position, beginning of year, as restated Total net position, end of year $ $ 364,504 54,410 7,468 426,382 168,008 65,171 58,784 291,963 134,419 3,864 (30) 710 (60) (4,735) (5,585) (2,567) (8,403) 4,921 - - 130,937 1,367,899 1,498,836 $ $ 311,193 51,708 10,082 372,983 149,457 54,894 55,336 259,687 113,296 1,463 (280) 13,404 (12,903) (4,508) (208) (4,994) (8,026) 9,911 (850) - 114,331 1,253,568 1,367,899 $ $ 2016 282,873 52,337 11,053 346,263 140,578 49,318 52,190 242,086 104,177 789 (212) 31,737 (33,980) (9,656) 1,338 (2,989) (12,973) 5,770 - 6,754 103,728 1,149,840 1,253,568 Total fiscal year 2018 operating revenues of the Authority were a record $426,382 or 14.3% greater than the fiscal year 2017 revenue of $372,983. Fiscal year 2017 operating revenues were 7.7% greater than fiscal year 2016 revenue of $346,263. The revenue increases over fiscal year 2016 were primarily attributable to increases in container volumes over the two fiscal years. 10
