GEORGIA PORTS AUTHORITY CHANGE IN NET POSITION LAST TEN FISCAL YEARS (In Thousands) Fiscal Year 2019 Operating revenues: Container cargo General cargo Liquid and dry bulk Non-operating revenues: Investment income (loss) Gain (loss) on sale/impairment of capital assets Non-capital contributions Total revenues (a) Operating expenses: Operation and maintenance of facilities General and administrative Depreciation Non-operating expenses: Interest expense Non-capital port development expense Capital contributions repaid to the State of Georgia (b) Conservation commitments expense Other Total expenses (a) Income before contributions and extraordinary items Total contributions from federal and state agencies Extraordinary items: Loss due to Hurricane Matthew Gain on recovery from warehouse fire Change in net position Net position, beginning of year (c)(d) Net position, end of year $ $ 410,006 $ 58,752 4,861 473,619 7,224 38,583 274 46,081 519,700 195,891 68,509 61,148 325,548 - 380 7,198 - 10,395 17,973 343,521 176,179 21,151 - - 197,330 1,498,836 1,696,166 $ 2018 364,504 $ 54,410 7,468 426,382 3,864 (5,585) 710 (1,011) 425,371 168,008 65,171 58,784 291,963 30 60 4,735 - 2,567 7,392 299,355 126,016 4,921 - - 130,937 1,367,899 1,498,836 $ (a) Revenues and expenses have gradually increased due to the general growth of container volume. (b) The Authority makes voluntary annual payments to the State of Georgia's Treasury. These payments may be adjusted, deferred, or redirected by the state depending on the Authority's ability to pay. (c) Fiscal year 2013 net position differs from the fiscal year 2012 ending net position due to a restatement posted as a result of the implementation of GASB Statement No. 68. (d) Fiscal year 2015 net position differs from the fiscal year 2014 ending net position due to a restatement posted as a result of the implementation of GASB Statements No. 73 and 75. 56 2017 311,193 $ 51,708 10,082 372,983 1,463 (208) 13,404 14,659 387,642 149,457 54,894 55,336 259,687 280 12,903 4,508 - 4,994 22,685 282,372 105,270 9,911 (850) - 114,331 1,253,568 1,367,899 $ 2016 282,873 52,337 11,053 346,263 789 1,338 31,737 33,864 380,127 140,578 49,318 52,190 242,086 212 33,980 9,656 - 2,989 46,837 288,923 91,204 5,770 - 6,754 103,728 1,149,840 1,253,568
