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) November 10, 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 September 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: November 10, 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)
(Unaudited)
<CAPTION>
Quarters ended September 30, Years ended September 30,
------------------------- -------------------------
1994 1993 1994 1993
----------- ----------- ----------- -----------
<S> <C> <C> <C> <C>
Investment income $ 197,198 $ 204,560 $ 758,150 $ 754,369
Interest expense (118,435) (120,160) (463,696) (490,578)
----------- ----------- ----------- -----------
NET INVESTMENT INCOME 78,763 84,400 294,454 263,791
----------- ----------- ----------- -----------
NET REALIZED INVESTMENT LOSSES (4,558) (7,746) (21,124) (21,287)
----------- ----------- ----------- -----------
Fee income:
Variable annuity fees 20,335 18,448 79,483 67,461
Asset management fees 7,285 8,012 31,302 32,293
Net retained commissions 7,121 6,921 28,009 23,658
Trust fees 2,891 2,605 11,942 10,893
----------- ----------- ----------- ------------
TOTAL FEE INCOME 37,632 35,986 150,736 134,305
----------- ----------- ----------- ------------
Other income and expenses:
Surrender charges 2,682 2,474 10,716 9,766
General and administrative
expenses (34,588) (37,840) (132,743) (135,790)
Provision for future guaranty
fund assessments -- (17,930) -- (22,000)
Amortization of deferred
acquisition costs (18,351) (13,298) (66,925) (51,860)
Other, net 2,187 5,416 4,887 7,086
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TOTAL OTHER INCOME AND EXPENSE (48,070) (61,178) (184,065) (192,798)
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PRETAX INCOME 63,767 51,462 240,001 184,011
Income tax expense (20,100) (15,900) (74,700) (57,000)
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INCOME BEFORE CUMULATIVE EFFECT
OF CHANGE IN ACCOUNTING FOR
INCOME TAXES 43,667 35,562 165,301 127,011
Cumulative effect of change in
accounting for income taxes -- -- (33,500) --
---------- ----------- ----------- ------------
NET INCOME $ 43,667 $ 35,562 $ 131,801 $ 127,011
========== =========== =========== ============
PER COMMON SHARE:
Income before cumulative effect
of change in accounting for
income taxes $ 0.95 $ 0.75 $ 3.58 $ 2.75
Cumulative effect of change in
accounting for income taxes -- -- (0.81) --
---------- ----------- ----------- -----------
Net income $ 0.95 $ 0.75 $ 2.77 $ 2.75
========== =========== =========== ===========
AVERAGE COMMON SHARES OUTSTANDING 41,653 42,144 41,610 40,255
========== =========== =========== ===========
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