GEORGIA PORTS AUTHORITY CHANGE IN NET POSITION LAST TEN FISCAL YEARS (In Thousands) Fiscal Year 2020 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 $ $ 415,726 $ 61,014 4,988 481,728 4,706 422 27,767 32,895 514,623 200,532 75,786 67,005 343,323 - 26,011 5,472 - 8,972 40,455 383,778 130,845 5,774 - - 136,619 1,696,166 1,832,785 $ 2019 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 $ (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. 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 $ 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 67
