Amounts in connection with operating
asset financing
32264
32,103
32,774
31,745
30,669
29,052
1,533
-
-
-
Net operating revenues
680489
539,633
547,847
553,375
488,820
379,380
401,029
344,438
338,182
231,766
Income on investments
70830
73,723
76,404
88,054
84,054
86,014
92,094
76,858
59,613
76,998
Gain on purchase of port Authority
bonds
439
4,797
146
724
4,788
2,131
4,871
3,221
5,235
3,571
Net loss on WTC explosion
-
-
(32,500)
-
-
-
-
-
-
-
Net revenues available for debl
servise and reserves
661768
618,153
591,897
642,153
577,662
467,525
497,994
424,517
403,030
312,335
DEBT SERVICE-OPERATIONS
Interest on bonds,nots and commercial
paper obligations
(266903)
(259,400)
(258,458)
(254,435)
(227,619)
(195,176)
(174,673)
(155,143)
(135,678)
(116,980)
Times,interest earned (b)
2.44
2.38
2.29
2.52
2.54
2.40
2.85
2.74
2.97
2.67
Debt maturities and retirements
(86,866)
(75,745)
(67,675)
(59,925)
(66.537)
(59,675)
(52,425)
(49,125)
(54.475)
(55,350)
Times,debt service earned (b)
1.84
1.83
1,81
2.04
1.96
1.83
2.19
2.08
2.12
1.81
DEBT SERVICE-RESERVES
Direct investments in
facilities-reserves
(268,711)
(224,622)
(185,071)
(370,497)
(187.305)
(235,984)
(262,844)
(215,854)
(176,656)
(80,656)
Payments in connection with leasehold
acquisition
-
-
(35,687)
(4,015)
(4,005)
(4,097)
(1,941)
-
-
-
Debt retirement acceleration
(112,680)
(27,062)
(3,458)
-
-
-
-
(2,750)
(2,800)
-
Application from PFC program
106,000
-
-
-
-
-
-
-
-
-
Approproations for
sell-insurance-reserves
(3,444)
710
7,081
865
865
351
(2,272)
2,139
(2,929)
(4,260)
Repayment of commercial paper
obligations
(878)
(343)
(178)
(126)
(126)
(1,734)
(1,068)
(522)
-
(13,178)
Dept service on bonds secured by
trusts (c)
-
-
-
-
-
-
-
-
-
(649)
Net increase (decrease) in reserves
$
17,277
$
31,691
$
48,451
$
(45,980)
$
90,458
$
(28,790)
$
2,771
$
3,262
$
30,492
$
41,262
RESERVE BALANCES
January 1
862,699
831,008
782,557
828,537
738,079
766,869
764,098
760,836
730,344
689,082
December 31
$ 879,976
$ 862,699
$ 831,008
$ 782,557
$ 828,537
$ 738,079
$ 766,869
$ 764,098
$ 760,836
$ 730,344
Reserve fund balances represented by:
General
Reserve
$
606,167
$579,329
$
534,011
$
494,486
$
471,281
$
441,614
$
373,129
$
335,886
$
293,294
$
287,357
Consolidated
Bond Reserve
274,809
283,370
296,997
288,071
357,256
296,465
393,740
428,212
467,542
442,987
Total
$
879,976
$862,699
$
831,008
$
782,557
$
828,537
$
738,079
$
766,869
$
764,098
$
760,836
$
730,344
OBLIGATIONS
AAT DECEMBER 31
Consolidated Bonds and Notes
$ 4,796,207
$ 4,650,350
$4,286,668
$ 4,198,785
$ 4,056,744
$ 3,739,020
$ 3,338,250
$ 3,105,675
$ 2,718,550
$ 2,759,825
Fund buy-out obligation
396,360
392,722
389,366
386,290
383,433
357,067
-
-
-
-
Amounts payable in connection with
Special Project Bonds
472,676
473,575
473,575
298,575
298,575
298,575
96,500
95,500
96,500
96,500
Variable rate master notes
308,000
283,000
270,000
250,000
217,000
182,000
135,000
25,000
-
-
Commercial paper obligations
176,966
187,106
189,963
170,492
116,430
172,140
161,537
131,684
117,883
17,240
Versatile structure obligations
286,200
185,700
100,000
-
-
-
-
-
-
-
Leasehold acquisition obligation
-
-
-
33,213
33,809
34,349
34,839
-
-
-
Operting equipment-lease financing
obligations
-
13,563
19,903
27,008
24,060
24,060
24,060
25,726
24,608
9,882
Port Authority equipment notes
13,638
-
-
-
-
-
-
-
-
-
Total obligations
$
6,448,036
$
6,186,016
$5,729,475
$
5,364,363
$
5,130,051
$
4,807,211
$
3,739,020
$
3,384,585
$
2,957,541
$
2,883,447
INVESTED IN FACILITIES AT DECEMBER 31
$
11,762,783
$
11,118,503
$
10,432,103
$
9,848,280
$
9,161,865
$
8,532,632
$
7,825,014
$
7,050,152
$
6,547,044
$
5,876,771
DEBT RETIRED THROUGH INCOME:
Annual
$
96,423
$
103,150
$
104,523
$
60,647
$
67,599
$
61,897
$
53,719
$
52,399
$
57,275
$
69,170
Cumulative
$
3,186,486
$
3,091,062
$2,987,912
$
2,883,389
$
2,822,742
$
2,755,143
$
2,693,246
$
2,639,527
$
2,587,128
$
2,529,853
(a) Gross operating
revenues reffect increased tolls adopted in 1991 and 1987 and increased PATH fares adopted
in 1987.
(b) In computing
"times,interest earned"and"times,debt service earned",insignificant
amounts of interest expense on debt previously accelerated have been included in"net
revenues available for debt service and reserves"and"interest on bonds,notes and
commercial paper obligations",respectively. In addition,"debt maturities and
retirements"has been adjusted to exclude the retirement of Consolidated Notes and
debt retirement accelerations,and to include scheduled retirement of debt previously
accelerated as fllows:
1995
1994
1993
1992
1991
1990
1989
1988
1987
1986
($
1,250)
($
3,250)
-
-
$3,352
-
($
2,750)
($
2,800)
-
-
(c) The Port Authority
has fully satisfied,when due,as scheduled,all debt servise requirements on all such
obligations.
NOTE This selectes
financial data is prepared from information contained in Schedules A,B and C and is
presented for general information purpose only and is not intended to reffect specific
applications of the revenues of the Port Authority which are governed by statules and its
bond resolutions.
