Exhibit 3: Summary of Forecast Terminal Expenses
Pro forma Analysis of T18 Operations
Calendar year ending December 31
(in thousands)
The forecasts presented in this exhibit were prepared using information from the sources indicated and assumption provided by, or reviewed with and agreed to by, Port management, as described in the accompanying text inevitably, some of the assumptions used to develop the forecasts will not be realized and unanticipated events and circumstances may occur. Therefore, there are likely to be differences between the forecast and actual results,and those differences may be material.
(a) Future years escalated at general inflation rate of 3.0%.
(b) Based on the Terminal 18 Lease.
(c) Includes both Rental and Maintenance components of Agreement. Excludes energy component. Crane trench electricity costs are included with other electricity costs. Total also includes sales tax of 8.6%.
(d) Estimated to be $90 per container in 1999. See text.
(e) $10.00 per container for containers moved via on-dock rail. Payable to Port.
(f) Includes electricity for cranes. Calculated based on total acreage.
(g) Includes water, wastewater, natural gas, storm drainage and garbage charges.
(h) Expenses incurred in providing container repair and maintenance services.
(i) Expenses based on total capital investment for each component
(j) Assumed to increase as activity (throughput) increases.
(k) Leasehold excise tax rate of 12.84% applied to certain components of facilities lease payment.
(l) Allowance for on-going capital replacement. Estimated based on age and average life of equipment
(m) Estimated to be equal to 1.2% of gross revenues.Source: Washington State Dept.of Revenue.
