Annual Operating Budget

Transcription

1 Annual Operating Budget Fiscal Years 2016/17 and 2017/18 Airport Commission San Francisco International Aiport Business and Finance Division Effective July 2016

2 AIRPORT COMMISSION ANNUAL OPERATING BUDGET FISCAL YEARS 2016/17 & 2017/18 TABLE OF CONTENTS Page # I. BUDGET SUMMARY Revenue and Expense Summary...1 Revenue and Expense Charts...2 II. III. REVENUE BUDGET Assumptions & Methodology...5 Revenue Budget Summary...29 Revenue Budget Detail...30 EXPENSE BUDGET Airportwide Expense Summary...33 Division Expense Summary...34 i

3 SAN FRANCISCO AIRPORT COMMISSION REVENUE AND EXPENSE SUMMARY Budget FY 2015/16 Budget FY 2016/17 FY 2016/17 vs. 2015/16 Increase / Decrease Amount Percent Projected Budget FY 2017/18 FY 2017/18 vs. 2016/17 Increase / Decrease Amount Percent REVENUE Aviation Landing Fees Terminal Rentals Other Aviation Revenue Subtotal Aviation 161,685, ,032,000 74,753, ,470, ,169, ,195,000 78,183, ,547,000 20,484,000 8,163,000 3,430,000 32,077, % 3.2% 4.6% 6.5% 198,106, ,624,000 79,950, ,680,000 15,937,000 15,429,000 1,767,000 33,133, % 5.8% 2.3% 6.3% NonAviation Parking Concessions Sale of Electricity Other Sales & Services Subtotal NonAviation 102,086, ,219,000 25,518,000 77,454, ,277, ,419, ,961,000 26,033,000 77,393, ,806,000 6,333,000 11,742, ,000 (61,000) 18,529, % 6.9% 2.0% 0.1% 4.9% 109,231, ,524,000 26,688,000 76,455, ,898, ,000 5,563, ,000 (938,000) 6,092, % 3.1% 2.5% 1.2% 1.5% Operating Revenue 870,747, ,353,000 50,606, % 960,578,000 39,225, % NonOperating Revenue PFC Revenue Interest Income Deferred Aviation Surplus Reconciling Difference NonOperating Revenue 58,110,000 5,432,000 36,000, , ,021,188 44,938,000 7,600,000 35,908,000 1,513,584 89,959,584 (13,172,000) 2,168,000 (92,000) 1,034,396 (10,061,604) 22.7% 39.9% 0.3% 215.9% 10.1% 44,670,000 9,655,000 29,800,000 7,898,321 92,023,321 (268,000) 2,055,000 (6,108,000) 6,384,737 2,063, % 27.0% 17.0% 421.8% 2.3% TOTAL REVENUE 970,768,188 1,011,312,584 40,544, % 1,052,601,321 41,288, % EXPENDITURES Personnel Services Salaries Fringe Benefits* Overhead Subtotal Personnel Services 134,893,217 81,723,442 1,723, ,340, ,057,234 76,465,868 2,650, ,173,102 10,164,017 (5,257,574) 926,386 5,832, % 6.4% 53.7% 2.7% 149,304,330 83,607,649 2,700, ,611,979 4,247,096 7,141,781 50,000 11,438, % 9.3% 1.9% 5.1% NonPersonnel Travel Training Employee Field Expenses Membership Fees Entertainment & Promotion Court Fees & Other Compensation Professional & Specialized Services Maintenance Svcs Bldgs & Structures Maintenance Svcs Equipment Rents & Leases Buildings Rents & Leases Equipment Utilities Expenses Subsistance Other Current Expenses Fixed Charges Subtotal Non Personnel Expenses 514, ,000 74, , ,650 10,750 58,591,461 1,662,000 29,449, , ,500 5,085,000 46,000 5,439,269 3,079, ,857, , , , , ,600 10,000 69,207,284 4,224,000 32,465,060 4,184, ,500 5,322,000 46,000 7,159,015 3,205, ,428, ,447 (47,750) 54, ,970 (23,050) (750) 10,615,823 2,562,000 3,015,338 3,893,062 64, , ,719, ,956 22,571, % 6.9% 73.0% 47.4% 8.1% 7.0% 18.1% 154.2% 10.2% % 24.9% 4.7% 31.6% 4.1% 21.3% 704, , , , ,600 10,000 71,427,115 4,454,000 34,599,233 4,327, ,500 5,403,000 50,000 6,753,115 3,229, ,871,224 13,000 (65) 2,219, ,000 2,134, ,618 81,000 4,000 (405,900) 23,608 4,442, % 3.2% 5.4% 6.6% 3.4% 1.5% 8.7% 5.7% 0.7% 3.5% Materials & Supplies Equipment Debt Service Light, Heat, and Power 17,362,146 1,972, ,391,269 45,247,642 18,194,495 3,604, ,860,380 45,777, ,349 1,632,352 (3,530,889) 530, % 82.8% 0.8% 1.2% 17,924,300 2,174, ,023,815 48,453,644 (270,195) (1,429,969) 12,163,435 2,675, % 39.7% 2.9% 5.8% Services of Other Departments City Attorney Legal Services Mayor's Office Risk Management All Other Departments** Subtotal Services of Other Depts 4,165,000 6,415,368 12,727,238 23,307,606 4,165,000 6,415,368 15,787,259 26,367,627 3,060,021 3,060, % 13.1% 4,165,000 6,415,368 14,736,084 25,316,452 (1,051,175) (1,051,175) 6.7% 4.0% Designated for General reserve 9,050,000 9,050,000 N/A Public Safety Police Fire Subtotal Public Safety 53,344,782 23,114,290 76,459,072 56,635,610 24,443,932 81,079,542 3,290,828 1,329,642 4,620, % 5.8% 6.0% 58,287,675 25,442,706 83,730,381 1,652, ,774 2,650, % 4.1% 3.3% Annual Service Payment to City (ASP) 40,845,750 43,557,000 2,711, % 44,513, , % Other Transfers Small Capital Outlay Facilities Maintenance Surety Bond Fund Transfer Subtotal Other Transfers 4,869,000 12,084,000 31,713 16,984,713 4,653,588 14,584,000 31,713 19,269,301 (215,412) 2,500,000 2,284, % 20.7% 13.5% 4,900,000 15,000,000 31,713 19,931, , , , % 2.9% 3.4% TOTAL EXPENDITURE 970,768,188 1,011,312,584 40,544, % 1,052,601,321 32,238, % * Includes Other PostEmployment Benefits (OPEB) contribution of 7,500,000 in FY 2016/17 and FY 2017/18. ** Includes Work Order Recoveries

4 FY 2016/17 Revenue ( Million) Deferred Aviation PFC Revenue Revenue 44.9 Fund Balance % 1.5 Landing Fees 3% 0% Interest Income 18% 7.6 Other Sales & 1% Services % Sale of Electricity % Concessions Terminal Rents 15% % Parking & Ground Transportation % Public Safety Other Aviation Revenue % FY 2016/17 Expense ( Million) Annual Service Payment % Other Transfers % Personnel Services % 22% Services of Other Departments % Light, Heat and Power % NonPersonnel % Debt Service % Materials & Supplies % Equipment 3.6 0%

5 Deferred Aviation PFC Revenue Interest Income Revenue 44.7 Fund Balance % 7.9 1% 3% 1% Other Sales & Services Landing Fees % 19% Sale of Electricity % FY 2017/18 Revenue ( Million) Concessions % Terminal Rents % Parking & Ground Transportation % Annual Service Payment Other Transfers Public Safety 4% 2% 83.7 Personnel Services 8% % Services of Other Departments % Light, Heat and Power % Other Aviation Revenue % FY 2017/18 Expense ( Million) NonPersonnel % Materials & Supplies 17.9 Debt Service Equipment 2% % 0%

6 Revenue Budget Assumptions & Methodology Fiscal Year 2016/17 The following revenue budget summary is based on the final Board of Supervisors approved budget for the Airport Commission. LANDING FEES Airline Landing Fees AVIATION Description: Landing fees collected from commercial airlines (passenger and cargo flights) are assessed per 1,000 pounds of maximum landing weight for each aircraft arrival. The maximum landed weight and resulting landing fees vary by aircraft type as defined by the FAA Approved Aircraft Manual. Required total landing fee revenue is calculated through the Rates & Charges model, and equals the amount needed to cover the operating costs of the Airfield cost center, plus 50% of the calculated operating deficit or surplus in the Terminal and Groundside cost centers. Revenue 161,282, ,749,000 20,467, ,655,000 Landed Weight 33,063,000 36,381,000 3,318,000 37,294,000 (in 1,000 lb. units) Assumptions: Forecast landed weight was derived from the airlines combined arriving flight schedules and fleet mix submitted during the annual calculation of Airline Rates & Charges and a forecast prepared by the Airport s consultant, LeighFisher, Inc., in February Landed weight is forecast at 36,381,000 thousandpound units in FY 2016/17. The landing fee was set at 4.99 per 1,000 pounds, with a minimum fee of 285 for aircraft operated by airlines signatory to the 2011 Lease and Use Agreement under a breakeven weight of 57,100 pounds. Nonsignatory landing fee is set to reflect a 25% premium over the signatory rate (see NonSignatory Airline Surcharge Fees). The estimated revenue from the premium is an offset in the calculation of landing fees. Methodology: Revenue = Forecast landed weight X Derived landing fee rate The FY 2016/17 budgeted landing fee revenue increase of 12.7% over the prior year budget reflects an increase in required airline revenue per the calculation of Airline Rates & Charges as specified in lease and operating agreements with the airlines. Airline forecast landed weight is projected to increase by 1 over the FY 2015/16 budgeted level. In combination, these factors resulted in a 2.5% increase in the landing fee from 4.87 to The landed weight

7 is forecast to increase 3.9% when compared to the preliminary actual landed weight of 35,012,000 thousand pound units in FY 2015/ NonSignatory Airline Surcharge Fees 403, ,000 17, ,000 Airlines that are not signatory to the 2011 Lease and Use Agreement are subject to a 25% premium over the signatory rate (see Airline Landing Fees). The estimated revenue from the premium is an offset in the calculation of landing fees. FY 2016/17 budget reflects nonsignatory airlines activities when the budget is prepared and the 2.5% increase in landing fee. TERMINAL RENTALS Rental Airline Terminal Leased Space Description: Rental revenue from exclusive, preferential and joint use space leased by airlines in Airport passenger terminals. Required total terminal rental revenue is calculated by the Rates & Charges model, and equals the amount needed to cover the operating costs of airline leased space, plus 50% of the calculated operating deficit or surplus for Terminal public space and the Groundside cost center. Account RentalAirline North Terminal (T3) 73,414,000 79,654,000 6,240,000 84,522, RentalAirline South Terminal (T1) 26,560,000 25,572,000 (988,000) 25,673, RentalAirline Int l Terminal Bldg. 89,883,000 90,271, ,000 96,349,000 (ITB) RentalAirlineCustoms Facilities (ITB) 42,513,000 43,656,000 1,143,000 46,324, RentalAirline (T2) 26,662,000 28,042,000 1,380,000 29,756,000 Total Terminal Rental Revenue 259,032, ,195,000 8,163, ,624,000 Assumptions: Airline leased space forecast, prepared in consultation with Aviation Management, reflects known changes at the time the budget is prepared. Terminal 3 East frontal gates reopened in November Airlines movements in connection to the Terminal 1 redevelopment are reflected in the space forecast. Methodology: For exclusive use space: Revenue = Leased space sq. ft. X Applicable category (IV) space rental rates ITB Joint Use (including Customs ITB Facility)

8 ITB is designed and operated as a jointuse facility (i.e., terminal, ticketing, gate and baggage areas are designated commonuse among the resident carriers). Rent payable for the jointuse space and facilities, as determined by the amount of space and the applicable category rate, is allocated to each carrier as follows: 20% of joint use rent is a flat fee paid by each carrier. 80% is allocated based on each carrier s share of passengers. The type of space being used determines the passenger basis (i.e., total passengers, enplaned passengers only, deplaned passengers only) used for the allocation. T1 and T2 Joint Use In addition to the ITB, Terminals 1 and 2 have baggage areas designated as commonuse among resident carriers. Space is shared between Frontier and Southwest Airlines in T1, and American and Virgin America in T2. The calculation methodology for rent payable by carriers is the same as used for the ITB. The FY 2016/17 Budget reflects a 3.2% increase over the prior budget in required airline terminal rental revenue. Space adjustments were minimal for FY 2016/17 with a 10,000 square foot increase or 0.6% in airline leased space. The required revenue increase outpaces the increase in airline leased space, resulting in an effective average rental rate increase of 2.5% from to per square foot. OTHER AVIATION RENTALS Jet Bridge Fees Description: Fees charged to Airlines for use of Airportowned jet bridges in Terminal 1. The fee reflects the recovery of debt service and projected AO&M costs. 492, ,000 (18,000) 497,000 Assumptions: American, Delta and Southwest continue usage of Airportowned jet bridges in T1. Turn fee decreased to per turn in FY 2016/17 based on 100% cost recovery. Methodology: Revenue = Forecast turns on Airportowned jet bridges X 21 per turn The FY 2016/17 budget reflects jet bridge usage trends at the time the budget was prepared Common Use Gate Fee Description: In accordance with the 2011 Lease and Use Agreement, fees are charged to Airlines for use of Common Use facilities as designated in the domestic terminals. The

9 Airport retains exclusive control of all Common Use gates, Common Use Ticket Counters and Common Use Baggage Claim. Fees are assessed to users based on type of common use facilities used and the aircraft body type. Narrowbody aircraft are charged 100% of the Common Use fee and widebody aircraft are charged 115% of the Common Use fee. 1,228,000 1,341, ,000 1,435,000 Assumptions: FY 2016/17 Budget reflects the assignment of two gates for common use at the time Airline rates were prepared and staff estimated use. Methodology: Common Use Gate fee (per arrival or departure) is the aggregate of 50% of holdroom rent and 50% of loading bridge AO&M expenses divided by the average the number of arrivals (for use per arrival) or average number of departures (for use per departure). Common Use Baggage Claim Fee (per arrival) is the aggregate of the Common Use baggage claim rent and AO&M expenses for the Common Use baggage claim devices and inbound conveyors divided by the average number of arrivals. Common Use Ticket Counters (per departure) is the aggregate of the (a) Common Use ticket counters space rent, (b) Common Use baggage makeup area space rent, (c) AO&M expenses for the Common Use ticket counters and equipment, and (d) AO&M expenses for the baggage makeup and outbound conveyor systems divided by (e) the average number of departures. The FY 2016/17 increase reflects current usage trends. Frontier and Virgin America were the primary users of Common Use gates in FY 2015/ Rental Airline Cargo Customs Facility Description: Revenue is reimbursement of operating expenses and debt service for construction of the Air Cargo Customs Facility located in West Field Cargo Building #1. 1,012,000 1,020,000 8,000 1,039,000 Assumptions: FY 2016/17 Budget reflects updated costs and Consumer Price Index (CPI) adjusted space rental. Debt service for the tenant improvements remains unchanged. Methodology: Rent and actual operating cost of facility is assessed to client airlines, based on per airline proration of transaction volume of total US Customs cargo entries. Budgeted FY 2016/17 revenue increased due to updated operating costs and space rental.

10 67321 Rental Airline Ground Leases Description: Rental income from leases with Airlines for the use of various Airportowned properties and facilities. 15,791,000 16,131, ,000 16,440,000 Assumptions: Current leases will continue subject to specified Consumer Price Indices (CPI) based rent adjustments and property reappraisals. Methodology: Sum of leasespecified rental payments The FY 2016/17 budgeted increase primarily reflects the CPI adjusted rent payment of the United Airline s Maintenance & Operations Facility (MOC) lease Parking Employees Description: Revenue from parking permit fees paid by Airport tenant employees for the use of Airportowned and operated parking facilities. These facilities include Lot C, Lot D, West Field Garage, designated areas in the Domestic Terminal garage, designated areas in the IT Garages A and G, and parking areas of commonuse cargo buildings. Permits are sold on a quarterly basis. 9,383,000 10,638,000 1,255,000 10,904,000 Assumptions: Fee schedule remains unchanged from the prior year. Demand for permits by Airport tenant employees remains strong from increased tenant and contractor staff. Methodology: Number of permits sold X Applicable permit fee Budgeted FY 2016/17 revenue increases 13.4% from the prior year budget, reflecting higher demand in tenant employee parking permits and no change in rates Rental Airline Cargo Space Description: Rental income from Airportowned cargo facilities located in the North Field and West Field Cargo facilities.

11 5,115,000 4,558,000 (557,000) 4,672,000 Assumptions: Monthtomonth permits will be charged in accordance with established Rates and Charges. Longer term leases will be adjusted by CPI or step increases in accordance with lease terms in place for FY 2016/17. Methodology: Leased space X Applicable rental rate(s) FY 2016/17 variance reflects a combination of the expired American Airlines and DHL leases in conjunction with a reduction in rental square footage by Federal Express. CPI is assumed at 2.5% for longer term leases Rental Aircraft Parking Description: Aircraft parking revenue for use of Airportowned areas and facilities for the overnight storage of aircraft, and by cargo aircraft requiring ground time to load/unload cargo shipments. 5,000,000 5,000, ,000,000 Assumptions: Forecast demand in FY 2016/17 based on FY 2015/16 estimates. No change in parking fees. Methodology: Revenue = Sum of monthly/hourly parking activity X Applicable rate Rates are in eight hour increments and are locationbased, with lower remote (plots 40, 41 and 50) rates and higher near terminal (all other locations) rates. Wide body aircraft are assessed higher rates than narrow body. FY 2016/17 budget reflects trends in aircraft parking activity at the time the Budget was developed. Current major revenue contributors are Virgin America, Delta Air Lines, United, DHL Express and Southwest Rental AirlineSuperbay Hangar Description: Lease revenue for the Superbay Hangar on Plot 40 from United Airlines and American Airlines. 8,352,000 8,562, ,000 8,776,000

12 Assumptions: American and United continue under their leases, with CPI adjustments. Methodology: Revenue = Leased space X Applicable sq. ft. rental rate The FY2016/17 budgeted increase reflects CPI adjustments from American Airlines & United Airlines leases Airline Support Services Description: Lease payments, monthtomonth permit revenue and access fees paid by aviation support service firms (including ground handlers and security checkpoint screening contractors) and other airport tenants for use of land, office space and the right to operate on the Airport to support airline flight operations. 13,810,000 15,514,000 1,704,000 15,869,000 Assumptions: The number of ground handlers on lease or monthtomonth permits remains relatively stable between 40 and 43. CPIs are assumed at 2.5%. Methodology: Sum of lease payments, monthtomonth permit fees and ground handler access fees. Budgeted FY 2016/17 revenue increase of 1.7 million or 12.3% reflects new lease commencements and a2.5% increase in the average net effective rental rate Rental Tank Farm Area Description: Revenue from rental of land and pipeline rightsofway granted to SFO Fuel (an Airlineowned fuel consortium), Shell Oil Company and Kinder, Morgan Energy Partners. The pipelines are used to transport jet fuel to the tanks, which store fuel used by the airlines. 1,440,000 1,475,000 35,000 1,512,000 Assumptions: Existing leases and monthtomonth permits continue throughout FY 2016/17. CPI assumed to be 2.5%. Methodology: Sum of property and pipeline rightsofway lease payments. Budgeted FY 2016/17 revenue increase reflects CPI adjustments General AviationFixed Base Operator (FBO) Activity

13 Description: Activity revenue from General Aviation (noncommercial) aircraft owners, including landing fees, shortterm and longterm aircraft storage, overnight aircraft parking and purchase of fuel. Currently two 25,000 squarefoot Airport hangers are managed by Signature Flight Support, plus surrounding area that is used for aircraft parking. Signature also collects landing fees for GA aircraft operations. Minimum landing fees for fixed and rotary wing aircraft are based on aircraft weight. Minimum landing fees of 221 and 110 are collected for signatory fixed and rotarywinged aircraft under breakeven weights of 40,300 pounds and 20,000 pounds, respectively. 13,130,000 13,470, ,000 13,806,000 Assumptions: Overall revenue based on Minimum Annual Guarantee, set at 13.5 million based on estimated CPI increase. Activity levels continue to produce sales activity below Minimum Annual Guarantee (MAG). Minimum landing fees increased by 16.3% and 15.8% for fixed and rotarywinged aircraft, respectively. Aircraft parking rates were unchanged from FY 2015/16. Methodology: Landing Fees = 100% of collected fees Hangar rental revenue = 26% of Gross rental revenue Aircraft parking revenue = Number of transactions X Duration X Parking rate X 55% Fuel service revenue = Actual fuel volume X Price per gallon X 27% Advertising revenue = 40% of gross sales Budgeted FY 2016/17 revenue reflects CPI adjusted MAG. NONAVIATION CONCESSIONS Concession revenue estimates are impacted by changes in passenger traffic. Enplaned passengers, the most often used metric, is detailed below. FY 2015/16 Enplaned Passengers Budget Actual Budget FY 2016/17 Variance to FY 2016 Budget Budget FY 2017/18 Domestic 18,913,000 19,844,991 20,515,000 1,602,000 21,001,000 International 5,437,000 5,776,519 6,110, ,000 6,341,000 Total 24,350,000 25,621,510 26,625,000 2,275,000 27,342,000 Enplaned passengers are forecast to increase 9.3%, from 24.4 million budgeted in FY 2015/16 to 26.6 million for FY 2016/17. FY2015/16 surpassed 24.0 million enplanements established in the previous peak year of FY 2014/15.

14 35271 SFIAParking (Garage, Lots & Permits) Description: Public parking revenues from the domestic and international terminal garages, longterm parking facility, valet parking and Parkfast. 102,086, ,419,000 6,333, ,231,000 Assumptions: FY 2016/17 passenger forecast is met. Rates for all garages and longterm parking facility starting June 10, 2016 is as follows: FY FY 2016/17* % Change 2015/16 Domestic Terminal Parking Garage: ShortTerm Rate (each 15 minutes) %** Maximum for the 1st 24 hours: Maximum per additional 24 hours International Parking Garages "A" and "G": ShortTerm Rate (each 15 minutes) %** Maximum per each 24 hours Long Term Parking Garage: ShortTerm Rate (each 15 minutes) %** Maximum per each 24 hours: * All public parking rates effective June 10, ** FY 2015/16 hourly parking rate was previously 2 per each 20 minutes. Methodology: FY 2016/17 revenue forecast reflects historical trends for parking time duration and demand/price elasticity by facility, and application of the ground access mode share to the FY 2016/17 forecast of enplaned passengers. Parking Revenue = Sum of all parking tickets X duration X parking rate During the construction of the new long term parking garage, hotel and the extension of Airtrain starting in Fiscal Year 2016/17, the Airport expects to temporarily lose approximately 1,900 parking stalls. To mitigate parking constraints during the capital plan, the Airport is restriping various parking lots to increase parking efficiencies combined with raising parking to mitigate parking demand. Parking rates will be evaluated closely to reflect the changes in the demand of the facilities. Rental NonAirline Terminal Leased Space Description: Exclusive terminal space rental income from nonairline concession tenants. Leased areas largely comprise storage space.

15 Account Rental NonAirline North Terminal (T3) 647, , , , Rental NonAirline South Terminal (T1) 329, ,000 27, , Rental NonAirline Central Terminal (T2) 439, ,000 11, , Rental NonAirline Int l Terminal (ITB) 829, ,000 59, ,000 Total NonAirline Terminal Rental 2,244,000 2,514, ,000 2,649,000 Assumptions: Current leases and monthtomonth permits are renewed. Tenant space requirements remain constant throughout FY 2016/17. Rental revenue reflects applicable terminal space category rates. Methodology: Revenue = Leased space X Applicable rental rate The overall nonairline terminal rent budgeted increase in FY 2016/17 reflects a combination of storage space rental changes at terminal locations and a 2.5% increase in the average net effective rental rate RentalOther Buildings (NonAirline) Description: Rental income for space rented by nonairline tenants in nonterminal buildings. 4,000 5,000 1,000 5,000 Assumptions: Tenants space requirements remain unchanged and continue on a monthtomonth permit basis. Methodology: Sum of monthtomonth permit revenue. FY 2016/17 increase reflects rental rate changes RentalUnimproved Area (NonAirline) Description: Land rental income for the Rental Car Center (RCC) and the Quick Turnaround (QTA) facility adjacent to the Rental Car Center. The QTA is the vehicle service facility for returned rental cars. 3,504,000 3,592,000 88,000 3,682,000 Assumptions: CPI adjusted lease rate for the RCC is 1.41 per square foot and 2.43 per square foot for the QTA facility per the terms in the lease. Methodology: Sum of lease payments from rental car tenants of the RCC and QTA facility.

16 FY 2016/17 budgeted increase reflects CPI adjustments to rental rates Concession RevenueCar Rental Description: Concession revenue generated from 10% commission rate applied against all on Airport rental car gross sales. 51,938,000 50,169,000 (1,769,000) 50,671,000 Assumptions: FY 2016/17 passenger forecast is met. Rental car companies continue to operate per lease terms. Methodology: Revenue = 10% of average contract revenue X projected contract volume against a minimum annual guarantee. FY16/17 budget reflects current trends of rental car activities when the Budget was developed. Preliminary FY 2015/16 rental car revenue is estimated at 50.4 million Off Airport Privilege Fee Description: Airport access fee assessed to car rental companies operating offairport property. The fee is set at 10% of gross sales in excess of 1,000,000. 1,773,000 2,246, ,000 2,325,000 Assumptions: Advantage RentACar, EZ Rent A Car, Firefly Rent A Car, FlightCar, Payless Car Rental, Silvercar, Sixt & Universal Van Rental continue its operations throughout FY 2016/17. Methodology: Revenue = 10% of annual sales in excess of 1,000,000 The increase in FY 2016/17 revenue budget reflects current offairport rental car activity trends at the time the Budget was prepared Concession RevenueDuty Free in BondITB Description: Commission income based upon Duty Free Merchandise sales in all terminal locations.

17 30,853,000 29,488,000 (1,365,000) 30,043,000 Assumptions: The tiered percentofgross rent will be greater than the Minimum Annual Guarantee (MAG) payment to the Commission for FY 2016/17. Methodology: The higher of either MAG or tiered percentofgross rent. FY 2016/17 budget is based on the tiered percent of gross rent as it is anticipated that the tiered percent of gross sales rent will exceed MAG, however lower than the prior year budget likely affected by recent globe events. Concession Revenue Retail Description: Rent to the Airport from retail concession tenants excluding duty free and duty paid sales. Account Retail Revenue 13,011,000 12,845,000 (166,000) 13,289, Retail Revenue ITB 1,385,000 1,632, ,000 1,592,000 Total Gifts & Merchandise 14,396,000 14,477,000 81,000 14,881,000 Assumptions: Forecast change in FY 2016/17 passenger activity is realized and the sales/enplanement ratio remains stable. Methodology: MAG rent or percentageofgross rent and negotiated or leasespecified payment terms. FY 2016/17 budgeted variance primarily reflects annual CPI adjustments to MAGs. Concession Revenue Food and Beverage Description: Rent to the Airport from food and beverage concession tenants. Account Food & Beverage 15,132,000 18,588,000 3,456,000 20,032, Food & Beverage 4,103,000 5,583,000 1,480,000 6,293,000 ITB Total Food & Beverage 19,235,000 24,171,000 4,936,000 26,325,000 Assumptions: Forecast change in FY 2016/17 passenger activity is realized. Majority of food and beverage tenants will achieve gross sales levels that result in revenue in excess of their MAGs.

18 Methodology: MAG rent or percentageofgross rent and negotiated or leasespecified payment terms. FY 2016/17 budget increases 25.7%, reflecting a combination of increased passenger traffic and higher food and beverage spending per passenger. FY 2017/18 Budget includes the opening of new concessions replacing existing locations as part of the new International Terminal Food and Beverage Program Taxicabs Description: Trip fees for taxicabs serving SFO. 8,550,000 7,981,000 (569,000) 8,020,000 Assumptions: Forecast passenger activity for FY 2016/17 is realized. All taxi trips will be charged 5/trip. Methodology: Revenue = Projected taxi trip demand X taxi trip fee FY 2016/17 budget reflects the reduced demand. Preliminary FY 2015/16 taxi trip revenue is estimated at 7.2 million Ground Transportation Trip Fees (and Vehicle Registration Fees) Description: Trip fees from ground transportation operators exclusive of taxis. Operator types include limousines, hotel shuttles, offairport parking shuttles, shared ride vans and scheduled shuttle vans (e.g., Super Shuttle), scheduled and charter buses, and Transportation Network Companies (TNCs). This subobject also includes vehicle registration, inspection fees and all other related service charges paid by all ground transportation providers. 14,788,000 23,235,000 8,447,000 24,045,000 Assumptions: Passenger activity forecast and ground transportation trip forecast are realized. Trip fees change between a decrease of 7.7% and to an increase of 18.0% from FY 2015/16. Vehicle registration fee remains at 55 per vehicle and is assessed on all ground transportation operators, including taxis. Methodology: Revenue = Projected number of trips X Trip fees per mode + Vehicle registration fees

19 FY 2016/17 budgeted increase reflects strong TNC activity, as well as the rate changes in trip fees. Preliminary FY 2015/16 trip fee revenue is estimated at 26.1 million. TNCs accounted for approximately 16.9 million of the total with nearly 4.4 million trips (pickup/dropoffs) recorded CNG Service Station Description: Commissions from onairport CNG sales to common carriers operating vehicles powered by this alternative fuel serving the Airport. Lease payments for land leases subject to CPI adjustment. 77,000 74,000 (3,000) 75,000 Assumptions: Clean Energy and Trillium, USA land leases continue during forecast period. Methodology: Revenue = Higher of MAG rent or percentageofgross activity rent per leasespecified terms. FY 2016/17 revenue reflects activity trends at the time the Budget was prepared Concession Revenue Groundside Description: Commission fees from catering trucks serving various work and tenant sites at SFO and rent from concessionaires located in the Rental Car Center. 116, ,000 7, ,000 Assumptions: All current catering operators renew permits and continue to pay a monthly permit fee. Rental Car Center food & beverage concession tenant continues to remit rent percentage rate based on gross revenues. Methodology: Revenue = Lease rent from the higher of either MAG or tiered percentofgross rent + Permit fees FY 2016/17 budget reflects activity trends at the time the Budget was prepared Concession Revenue Telephone Description: Commissions paid by cellular providers.

20 2,009,000 2,100,000 91,000 2,200,000 Assumptions: Four cellular mobile service providers continue MAG payments. Methodology: Revenue = MAG rent from cellular phone providers (4 operators) The budgettobudget variance in FY 2016/17 is due to MAG increases per the terms in the cellular provider leases Concessions Advertising Description: Contractual access fee for advertising rights in terminals and parking garages. Clear Channel Communications is the current contractor. 10,378,000 10,626, ,000 10,892,000 Assumptions: Clear Channel Communications continues to manage all advertising distribution at the Airport during FY 2016/17. Methodology: Revenue = Minimum Annual Guarantee Payment Under the lease, Clear Channel Communications pays Minimum Annual Guaranteed (MAG) payment only. MAG payment is subject to annual CPI adjustment. Concession Others Description: Commissions from nonairline vendors providing banking, ATM, currency exchange, and various passenger services including common use clubs and expedited traveler services. Account Concession Other 4,445,000 5,043, ,000 5,194, Concession Other ITB 5,768,000 5,991, ,000 6,265,000 Total Other Concessions 10,213,000 11,034, ,000 11,459,000 Assumptions: Current leases for currency exchange facilities, luggage cart rental, terminal ATMs, banking, common use club, and expedited traveler service at SFO continue. Anticipates percentofgross sales rent from Travelex currency in FY 2016/17, with increase due to passenger growth.

21 Methodology: Leasespecified rent or percentofgross, depending on tenant s activity and lease terms. FY 2016/17 budgettobudget variance reflects increased sales due to passenger growth Airport Traffic Fines Description: Fines for citations issued to public vehicles traveling on SFO property. 141, ,000 (15,000) 128,000 Assumptions: No dramatic shift in historical relationship between fines and passenger activity. Methodology: Revenue = Sum of all citations/fines issued and collected Budget forecast is based on recent experience. Revenue is variable. SALE OF ELECTRICITY Sale of Electricity Description: Sales of electricity to Airport tenants. 25,518,000 26,033, ,000 26,688,000 Assumptions: Public Utilities Commission (PUC) projected rate increase and expected tenant usage are met. Scheduled airlines pay 100% of the prevailing PUC electricity rate per kilowatthour per Stipulated Judgment dated September 14, Methodology: Revenue = Number of kilowatt hours sold X Applicable PUC rate FY 2016/17 revenue reflects a rate increase based on current trends. OTHER SALES AND SERVICES Water ResaleSewage Disposal Description: Water and sewer services provided to tenants.

22 6,712,000 6,164,000 (548,000) 6,861,000 Assumptions: Water consumption meets forecast estimate. Rates increased 1. Methodology: Revenue = Number of units consumed X Applicable water and sewer rates FY 2016/17 budget reflects a rate increase of 1 partially offset by reduced usage per the Mayor s executive directive to reduce water consumption. Preliminary actual FY 2015/16 water and sewage revenue was 5.5 million Sale of Natural Gas Description: Natural gas services provided to terminal food court and rental car facility tenants. 342, ,000 (85,000) 262,000 Assumptions: FY 2016/17 usage trend follows actual usage through December Methodology: Revenue = Estimated gas therms used X applicable rate FY 2016/17 budget is based on midyear actual usage through December Rental Car Facility Fee Description: Structure rent paid by five consolidated rental car companies, representing nine brands, occupying the Rental Car Center (RCC) and the Quick Turnaround (QTA) car return facility. 14,950,000 15,335, ,000 15,719,000 Assumptions: CPI adjusted lease rate for the RCC is per square foot and 2.84 per square foot for the QTA as per the terms in the lease. Methodology: Revenue = Sum of RCC and QTA facility lease payments FY 2016/17 increase reflects CPI rate adjustments per current lease RentalBART

23 Description: BART rent and custodial reimbursement made in conjunction with rental of its Station complex in Concourse H, located adjacent to Garage G. 3,348,000 3,391,000 43,000 3,414,000 Assumptions: Based on current lease agreement. Methodology: Revenue = 2.5 million per year + custodial fees The FY 2016/17 variance reflects increases in estimated custodial fees Fines/Penalties Description: Miscellaneous fines and penalties. 112, , , ,000 Assumptions: Revenue trends vary. Methodology: Sum of fines and penalties collected. Due to recent revisions of the Airport s Rules & Regulations and its enforcement, fines/penalties are expected to increase in FY 2016/ Telecommunication Fees Description: Access fees assessed to Airport tenants for telecommunications, data, and video services. 3,268,000 3,551, ,000 3,717,000 Assumptions: Tenant requirements will continue to be serviced by the Airport s Information, Telecommunication and Technology (ITT) unit. Majority of the fees are monthly and remain unchanged from FY 2015/16. New ITT services were added to meet tenant needs. Methodology: Revenue = Sum of service requests X Applicable fees FY 2016/17 budgettobudget increase reflects new ITT offerings to meet tenant demand Peace Officer Training

24 Description: Reimbursement from the state government for Airport Dispatchers attending annual required training. 20,000 20, ,000 Reimbursement payment from the State is recorded in this general ledger account and the associated payment to the Airports Dispatchers are paid and recorded in the Airport s expense account Transportation and Facilities Fees Description: Per contract fee assessed on each completed rental car contract as partial reimbursement for the capital and operating cost of the portion of the AirTrain system that is allocable to the consolidated Rental Car Center. 38,664,000 38,053,000 (611,000) 36,411,000 Assumptions: Per contract fee reduced to per rental car contract. The FY 2016/17 passenger forecast is realized. Methodology: Revenue = X Number of rental car contracts Preliminary FY 2015/16 revenue is expected to total 38.8 million Licenses & Permits Description: Airport fees assessed for issuance of security and ID badges, vehicle licenses and permits, film permits, registration seals and fingerprinting services. 1,353,000 1,855, ,000 1,903,000 Assumptions: Majority of the fees remain unchanged except for an 8.3% increase on badge renewal fee. A temporary badge and a badge reprint fee was introduced in FY 2016/17. Volume of issued badges and permits remains stable. Methodology: Revenue = Forecast volume of services rendered X Applicable rate Budgeted FY 2016/17 revenue is based on midyear FY 2015/16 demand for badges, permits and other security access services.

25 77921 Collection Charges Description: A 1.5% fee assessed on delinquent accounts (i.e., airlines and tenants who are in arrears on rent payable). 275, ,000 66, ,000 FY 2016/17 budget is based on recent collection charge trends through December Preliminary FY 2015/16 revenue from collection charges is expected to total 0.5 million Refuse Disposal Description: Revenue from fees charged for the use of Airportowned refuse collection facilities. 703, , , ,000 Assumptions: Tenants renew existing permits. Refuse permit fee schedule is as follows: 1) Retail concessions: per month per location for green certified tenants and per month per location for noncertified tenants; 2) Food & beverage concessions: per month per location for green certified tenants and per month per location for noncertified tenants; and 3) per month for Airlines and airline support tenants. Methodology: Revenue = Number of user permits X applicable monthly refuse permit fee X 12 months The increase in FY 2016/17 budget is primarily driven by rate increases of up to 15.3% Miscellaneous Terminal Fees Description: Revenue from: 1) reimbursement of tenant improvement fees for domestic terminal food and beverage locations, including food courts, and custodial reimbursement fees for services provided to the domestic terminal food court concessionaires; 2) concession marketing fee from the tenants at 1 per square foot per year; and 3) reimbursement for the construction of the secured connector. 3,273,000 2,600,000 (673,000) 2,600,000

26 Assumptions: 1) Tenants fulfill existing leases with respect to payment of infrastructure fees. Rates vary by Terminal. 2) Monthly custodial reimbursement fee assumes cost recovery of productive work hours assessed to each domestic food court located concession tenant based on 20% fixed/ 80% volume based formula. 3) Concession marketing charge remains at 1 per square foot per year. 4) The Terminal 3 International Terminal Boarding Area G secure connector reimbursement of 438,000 is paid by United Airlines pursuant the 2004 Bankruptcy Care Stipulation Agreement. 5) Equipment maintenance fee for the baggage handling system in Terminal 2 expired. A new contract is pending Airport Commission Approval. Methodology: Infrastructure Improvement Fee Revenue: (All domestic terminal food and beverage operators) = Total sq. ft. X negotiated rate per year Food Court Infrastructure Fee Revenue: (All domestic terminal food court operators) = Total sq. ft. X 15 per year Custodial Fee Revenue: (Domestic terminal food court operators) = 20% of cost spread evenly among all food court operators and 80% of the cost allocated based on gross revenue. Concession Marketing Charge Revenue: Total concession tenants sq. ft. X 1 per year Secured Connector Reimbursement 438,000 /year as determined by agreement FY 2016/17 budgettobudget variance reflects space changes of food & beverage tenants Reimbursement from SFOTEC Description: This fee formerly reimbursed Airport Commission for custodial services for international activity in the holdrooms and baggage claim areas in the International Terminal. Pursuant to the 2011 Lease and Use Agreement, effective July 1, 2011 custodial services for those areas will be provided by the Airport throughout all terminals. However, SFOTEC will continue to provide custodial service for the cleaning of the Passenger Loading Bridges (PLBs) in the International Terminal.

27 95,000 97,000 2, ,000 FY 2016/17 budget reflects the estimated custodial cost for passenger loading bridges in the International Terminal RentGovernmental Agency Description: Rent for Airportowned facilities paid by Governmental Agencies including tenants such as the US Postal Service, USDA, TSA, and Department of Technology, a Department of the City & County of San Francisco. 4,227,000 4,398, ,000 3,783,000 Assumptions: Lease requirements and monthtomonth permits will be honored and met. Methodology: Revenue = Sum of lease and monthtomonth permit payments per agreement terms. FY 2016/17 s budgettobudget increase is primarily driven by the renegotiated FBI lease Miscellaneous Airport Revenue Description: Revenue not otherwise classified. Assumptions: FY 2016/17 revenue activity is unknown and not eligible for posting in existing subobject accounts. Methodology: Revenue = Sum of unknown income not otherwise classified Revenue is variable. 112, ,000 (12,000) 100,000 NonOperating Revenue Interest EarnedFiscal Agent Account

28 Description: Interest earned on funds held by Fiscal Agent. Major funds are Debt Service Reserve Fund (DSRF) and Debt Service Fund (DSF). 4,171,000 6,154,000 1,983,000 8,156,000 Assumptions: In the debt service reserve fund (DSRF), FY 2016/17 earning is assumed at interest rates ranging from 1.00% to 1.26%. Additional reserve deposits are assumed in FY 2017/18 in connection to the Series 2016 bond transaction. FY 2017/18 interest rate is forecast to range from 0.45% to 1.39%. In the debt service fund (DSF), the forward purchase sales agreement (FPSA) is assumed at a rate of 0.63% reflecting the current low interest rate environment. Methodology: Revenue = Fund balances multiplied by assumed interest rates The FY 2016/17 interest is based on estimates from the Airport s Fiscal Agent Interest Earned Pooled Cash Description: Funds deposited with the City Treasurer. 1,261,000 1,446, ,000 1,499,000 Assumptions: Fund balances include all other funds on deposit in the operating fund. The average balance is assumed at 35% of total operating costs or million in FY 2016/17. Interest rate in both FY 2016/17 and FY 2017/18 is assumed at 0.7%, on the assumption that shortterm rates would remain low. Methodology: Revenue = Fund balances multiplied by assumed interest rates Passenger Facility Charge (PFC) Revenue Description: Revenue from the FAAapproved fee of 4.50 per enplaned commercial aviation passenger that is applied to the operating budget. 58,110,000 44,938,000 (13,172,000) 44,670,000 Assumptions: The Airport receives 4.39 per enplaned passenger (4.50 collection less 0.11 retained by collecting Airline) on approximately 85% of enplaned passengers (equal to the PFCeligible passenger). PFC revenue can be applied to rates and charges or used for payas

29 yougo projects. Only amounts applied to rates are reflected here; any excess amounts remain in the PFC Fund Balance. Methodology: Revenue = Amount applied to rates & charges The ability to apply PFC revenue to the operating budget is based on approved use by the FAA. The Airport continues to use PFC revenue in FY 2016/17 to control Airline rates. 9999B Fund BalanceBudget Basis Description: Consists of Deferred Aviation Revenue and Reconciling Difference necessary to balance the Operating Budget. Deferred Aviation Revenue Surplus: Per the Lease and Use Agreement with the Airlines, revenue required from the airlines in the form of landing fees and terminal rentals is reconciled at the end of each fiscal year. Surplus amounts owed to the airlines are carried forward to subsequent rates year(s) as revenue, offsetting revenue required from the airlines. Surpluses are reflected in Airport Fund Balance. Deficits increase required airline revenue in subsequent rate years. Deferred Aviation Revenue is calculated as per the Lease and Use Agreement million of a cumulative 55.7 million was used in the determination of airline rates in FY 2016/17. Reconciling Difference: The difference between the revenue and expense estimates budgeted for the annual Airport operating budget and those used for Rates & Charges. Rates are set and approved by the Airport Commission prior to final Budget adoption by the Mayor and Board of Supervisors. Deferred Aviation Revenue Surplus 36,000,000 35,908,000 (92,000) 29,800,000 Reconciling Difference 479,188 1,513,584 1,034,396 7,898,321 Total Fund Balance 36,479,188 37,421,584 1,034,396 37,698,321

30 SAN FRANCISCO AIRPORT COMMISSION REVENUE BUDGET SUMMARY FISCAL YEARS 2016/17 AND 2017/18 Budget FY 2015/16 Budget FY 2016/17 Budget FY 2015/16 vs. Budget 2016/17 Increase / Decrease Amount Percent Budget FY 2017/18 Budget FY 2016/17 vs. Budget FY 2017/18 Increase / Decrease Amount Percent REVENUE Aviation Landing Fees 161,685, ,169,000 20,484, % 198,106,000 15,937, % Terminal Rentals 259,032, ,195,000 8,163, % 282,624,000 15,429, % Other Aviation Revenue 74,753,000 78,183,000 3,430, % 79,950,000 1,767, % NonAviation Subtotal 495,470, ,547,000 32,077, % 560,680,000 33,133, % Parking 102,086, ,419,000 6,333, % 109,231, , % Concessions 170,219, ,961,000 11,742, % 187,524,000 5,563, % Sale of Electricity 25,518,000 26,033, , % 26,688, , % Other Sales & Services 77,454,000 77,393,000 (61,000) 0.1% 76,455,000 (938,000) 1.2% Subtotal 375,277, ,806,000 18,529, % 399,898,000 6,092, % Operating Revenue 870,747, ,353,000 50,606, % 960,578,000 39,225, % NonOperating Revenue Interest Income 5,432,000 7,600,000 2,168, % 9,655,000 2,055, % PFC Revenue 58,110,000 44,938,000 (13,172,000) 22.7% 44,670,000 (268,000) 0.6% Deferred Aviation Surplus 36,000,000 35,908,000 (92,000) 0.3% 29,800,000 (6,108,000) 17.0% Reconciling Difference 479,188 1,513,584 1,034, % 7,898,321 6,384, % NonOperating Revenue 100,021,188 89,959,584 (10,061,604) 10.1% 92,023,321 2,063, % TOTAL REVENUE 970,768,188 1,011,312,584 40,544, % 1,052,601,321 41,288, %

31 SAN FRANCISCO AIRPORT COMMISSION REVENUE BUDGET DETAIL FISCAL YEARS 2016/17 AND 2017/18 Budget FY 2015/16 Budget FY 2016/17 Budget FY 2015/16 vs. Budget 2016/17 Increase / Decrease Amount Percent Budget FY 2017/18 AVIATION LANDING FEES AIRLINE LANDING FEES ITINERANT AIRCRAFT LANDING FEES NON SIGNATORY SURCHARGE FEES SUBTOTAL LANDING FEES 161,282, , ,685, ,749,000 20,467, ,000 17, ,169,000 20,484, % 4.2% 12.7% 197,655, , ,106,000 TERMINAL RENTALS RENTALAIRLINE NORTH TERMINAL RENTALAIRLINE SOUTH TERMINAL RENTALAIRLINEITB RENTALAIRLINECUSTOMS FACILITIESITB RENTALAIRLINET2 SUBTOTAL TERMINAL RENTALS 73,414,000 26,560,000 89,883,000 42,513,000 26,662, ,032,000 79,654,000 25,572,000 90,271,000 43,656,000 28,042, ,195,000 6,240,000 (988,000) 388,000 1,143,000 1,380,000 8,163, % 3.7% 0.4% 2.7% 5.2% 3.2% 84,522,000 25,673,000 96,349,000 46,324,000 29,756, ,624,000 OTHER AVIATION RENTALS JET BRIDGE FEES COMMON USE GATE FEES RENTALAIRLINE CARGO CUSTOMS FACILITY RENTALAIRLINE GROUND LEASES PARKING EMPLOYEES RENTALAIRLINE CARGO SPACE RENTALAIRCRAFT PARKING RENTALAIRLINE; SUPERBAY HANGAR AIRLINE SUPPORT SERVICES RENTAL TANK FARM AREA FBOGENERAL AVIATION AIRCRAFT PARKING 492,000 1,228,000 1,012,000 15,791,000 9,383,000 5,115,000 5,000,000 8,352,000 13,810,000 1,440, ,000 1,341,000 1,020,000 16,131,000 10,638,000 4,558,000 5,000,000 8,562,000 15,514,000 1,475,000 (18,000) 113,000 8, ,000 1,255,000 (557,000) 210,000 1,704,000 35, % 9.2% 0.8% 2.2% 13.4% 10.9% 2.5% 12.3% 2.4% 497,000 1,435,000 1,039,000 16,440,000 10,904,000 4,672,000 5,000,000 8,776,000 15,869,000 1,512, FBOFUEL SERVICES FBO OTHER SERVICES 13,130,000 13,470, , % 13,806,000 SUBTOTAL: OTHER AVIATION REVENUE: 74,753,000 78,183,000 3,430, % 79,950,000 TOTAL AVIATION REVENUE 495,470, ,547,000 32,077, % 560,680,000 NONAVIATION REVENUE CONCESSIONS PUBLIC PARKING PUBLIC PARKING NSF CHECKS 102,086, ,419,000 6,333, % 109,231,000 SUBTOTAL: PARKING 102,086, ,419,000 6,333, % 109,231,000 OTHER CONCESSIONS RENTALNORTH TERMINAL(NONAIRLINE) RENTALSOUTH TERMINAL(NONAIRLINE) RENTALT2 (NONAIRLINE) RENTALNONAIRLINE; ITB RENTALOTHER BUILDINGS(NONAIRLINE) RENTALPAVED/UNIMPROV AREA (NONAIRLINE) CONCESSION REVCAR RENTAL OFF AIRPORT PRIVILEGE FEE CONCESSION REVDUTY FREE IN BONDITB CONCESSION REVGIFTS & MERCHANDISE CONCESSION REVGIFTS & MERCHANDISEITB CONCESSION REVFOOD & BEVERAGE CONCESSION REVFOOD & BEVERAGEITB TAXICABS GROUND TRANS TRIP FEES CNG SERVICE STATION CONCESSION REVGROUNDSIDE CONCESSION REVTELEPHONE CONCESSIONSADVERTISING CONCESSION OTHERS CONCESSIONOTHERSITB AIRPORT TRAFFIC FINES 647, , , ,000 4,000 3,504,000 51,938,000 1,773,000 30,853,000 13,011,000 1,385,000 15,132,000 4,103,000 8,550,000 14,788,000 77, ,000 2,009,000 10,378,000 4,445,000 5,768, , , , , ,000 5,000 3,592,000 50,169,000 2,246,000 29,488,000 12,845,000 1,632,000 18,588,000 5,583,000 7,981,000 23,235,000 74, ,000 2,100,000 10,626,000 5,043,000 5,991, , ,000 27,000 11,000 59,000 1,000 88,000 (1,769,000) 473,000 (1,365,000) (166,000) 247,000 3,456,000 1,480,000 (569,000) 8,447,000 (3,000) 7,000 91, , , ,000 (15,000) 26.7% 8.2% 2.5% 7.1% 25.0% 2.5% 3.4% 26.7% 4.4% 1.3% 17.8% 22.8% 36.1% 6.7% 57.1% 3.9% 6.0% 4.5% 2.4% 13.5% 3.9% 10.6% 870, , , ,000 5,000 3,682,000 50,671,000 2,325,000 30,043,000 13,289,000 1,592,000 20,032,000 6,293,000 8,020,000 24,045,000 75, ,000 2,200,000 10,892,000 5,194,000 6,265, ,000 SUBTOTAL CONCESSIONS 170,219, ,961,000 11,742, % 187,524,000