SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
________________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) July 20, 1994
SUNAMERICA INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER)
MARYLAND 1-4618 86-0176061
(STATE OR OTHER JURISDICTION (COMMISSION (IRS EMPLOYER
OF INCORPORATION) FILE NUMBER) IDENTIFICATION NO.)
1 SUNAMERICA CENTER, CENTURY CITY
LOS ANGELES, CALIFORNIA 90067-6022
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
Registrant's telephone number, including
area code (310) 772-6000
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Item 5. Other Events
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The Registrant has released earnings information for the
period ending June 30, 1994.
See the attached Condensed Consolidated Income Statement.
Item 7. Financial Statements, Pro Forma Financial Information and
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Exhibits
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(c) Exhibits
Exhibit 20 Condensed Consolidated Income Statement
SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
SUNAMERICA INC.
Date: July 20, 1994 By: /s/ Scott L. Robinson
-----------------------------
Scott L. Robinson
Senior Vice President
and Controller
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EXHIBIT 20
SUNAMERICA INC.
CONDENSED CONSOLIDATED INCOME STATEMENT
(In thousands, except per common share amounts)
<CAPTION>
Three months ended June 30, Nine months ended June 30,
---------------------------- --------------------------
1994 1993 1994 1993
-------------- ----------- ------------ -----------
<S> <C> <C> <C> <C>
Investment income $ 187,019 $ 190,994 $ 560,952 $ 549,809
Interest expense (112,778) (121,295) (345,261) (370,418)
-------------- ----------- ------------ -----------
NET INVESTMENT INCOME 74,241 69,699 215,691 179,391
-------------- ----------- ------------ -----------
NET REALIZED INVESTMENT LOSSES (5,312) (4,468) (16,566) (13,541)
-------------- ----------- ------------ -----------
Fee income:
Variable annuity fees 19,837 17,048 59,148 49,013
Asset management fees 7,541 8,438 24,017 24,281
Net retained commissions 8,287 6,234 23,525 16,737
Trust fees 3,081 2,756 9,051 8,288
-------------- ----------- ------------ ------------
TOTAL FEE INCOME 38,746 34,476 115,741 98,319
-------------- ----------- ------------ ------------
Other income and expenses:
Surrender charges 2,883 2,325 8,034 7,292
General and administrative
expenses (32,198) (37,576) (98,155) (102,020)
Amortization of deferred
acquisition costs (17,241) (13,027) (48,574) (38,562)
Other, net 44 6 63 1,670
------------- ----------- ------------ ------------
TOTAL OTHER INCOME AND EXPENSE (46,512) (48,272) (138,632) (131,620)
------------- ----------- ------------ ------------
PRETAX INCOME 61,163 51,435 176,234 132,549
Income tax expense (19,100) (17,600) (54,600) (41,100)
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INCOME BEFORE CUMULATIVE EFFECT
OF CHANGE IN ACCOUNTING FOR
INCOME TAXES 42,063 33,835 121,634 91,449
Cumulative effect of change in
accounting for income taxes -- -- (33,500) --
------------- ----------- ------------ ------------
NET INCOME $ 42,063 $ 33,835 $ 88,134 $ 91,449
============= =========== ============ ============
PER COMMON SHARE:
Income before cumulative effect
of change in accounting for
income taxes $ 0.91 $ 0.70 $ 2.63 $ 2.00
Cumulative effect of change in
accounting for income taxes -- -- (0.81) --
------------- ----------- ------------ -----------
Net income $ 0.91 $ 0.70 $ 1.82 $ 2.00
============= =========== ============ ===========
AVERAGE COMMON SHARES
OUTSTANDING 41,546 42,461 41,596 39,625
============= =========== ============ ===========
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