SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
________________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACTION OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) APRIL 26, 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
periods ended March 31, 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: April 26, 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>
Three months ended March 31, Six months ended March 31,
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1994 1993 1994 1993
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<S> <C> <C> <C> <C>
Investment income $ 183,402 $ 179,374 $ 373,933 $ 358,815
Interest expense (112,666) (119,739) (232,483) (249,123)
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NET INVESTMENT INCOME 70,736 59,635 141,450 109,692
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NET REALIZED INVESTMENT LOSSES (5,887) (5,325) (11,254) (9,073)
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Fee income:
Variable annuity fees 19,724 15,831 39,311 31,965
Asset management fees 8,127 8,000 16,476 15,843
Net retained commissions 8,129 5,966 15,238 10,503
Trust fees 2,916 2,741 5,970 5,532
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TOTAL FEE INCOME 38,896 32,538 76,995 63,843
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Other income and expenses:
Surrender charges 2,637 2,359 5,151 4,967
General and administrative
expenses (32,500) (34,690) (65,957) (64,444)
Amortization of deferred
acquisition costs (16,090) (12,861) (31,333) (25,535)
Other, net 15 53 19 1,664
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TOTAL OTHER INCOME AND EXPENSE (45,938) (45,139) (92,120) (83,348)
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PRETAX INCOME 57,807 41,709 115,071 81,114
Income tax expense (17,800) (12,100) (35,500) (23,500)
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INCOME BEFORE CUMULATIVE EFFECT
OF CHANGE IN ACCOUNTING FOR
INCOME TAXES 40,007 29,609 79,571 57,614
Cumulative effect of change in
accounting for income taxes -- -- (33,500) --
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NET INCOME $ 40,007 $ 26,609 $ 46,071 $ 57,614
============= ============ ============ ============
PER COMMON SHARE:
Income before cumulative effect
of change in accounting for
income taxes $ 0.86 $ 0.66 $ 1.70 $ 1.29
Cumulative effect of change in
accounting for income taxes -- -- (0.80) --
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Net income $ 0.86 $ 0.66 $ 0.90 $ 1.29
============= ============ ============ ============
AVERAGE COMMON SHARES
OUTSTANDING 41,931 38,542 41,921 38,207
============= ============ ============ ============
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