SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
________________
FORM 8-K/A
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, 1995
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
LOS ANGELES, CALIFORNIA 90067-6022
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
Registrant's telephone number, including
area code (310) 772-6000
The undersigned registrant hereby amends the following items,
financial statements, exhibits or other portions of its Current
Report on Form 8-K, dated and filed December 12, 1995, as set forth
in the pages attached hereto:
Exhibit 99.3 - Pro Forma Condensed Balance Sheet at
September 30, 1995, giving effect to the proposed
acquisition of Ford Life Insurance Company.
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Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
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(c) Exhibits
99.3 Pro Forma Condensed Balance Sheet at September 30,
1995, giving effect to the proposed acquisition of
Ford Life Insurance Company.
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: December 14, 1995 By: /s/ SCOTT L. ROBINSON
-----------------------------
Scott L. Robinson
Senior Vice President
and Controller
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LIST OF EXHIBITS FILED
----------------------
Exhibit
Number
- -------
99.3 Pro Forma Condensed Balance Sheet at September 30, 1995, giving
effect to the proposed acquisition of Ford Life Insurance Company.
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SUNAMERICA INC.
PRO FORMA CONDENSED BALANCE SHEET
SEPTEMBER 30, 1995
(IN THOUSANDS)
<CAPTION>
Historical cost financial
information as reported Pro forma adjustments
-------------------------- -----------------------------
Elimination of Purchase
SunAmerica Ford Life Ford Life's credit accounting Pro forma
At 9/30/95 At 9/30/95 life business adjustments combined
---------- ---------- ------------- ----------- ----------
<C>
<S>
Assets
Investments $10,808,959 $ 3,093,660 $ (50,127) $ (172,500) (1) $13,679,992
Variable annuity assets 5,263,006 - - - 5,263,006
Deferred acquisition costs 526,415 156,677 (3,946) (60,269) (2) 618,877
Other assets 245,787 193,431 (148,496) - 290,722
----------- ----------- ------------- ---------- -----------
Total assets $16,844,167 $ 3,443,768 $ (202,569) $ (232,769) $19,852,597
=========== =========== ============= ========== ===========
Liabilities and shareholders' equity
Reserves for fixed annuity
contracts $ 4,862,250 $ 2,998,216 $ (22,232) $ - $ 7,838,234
Reserves for guaranteed
investment contracts 3,607,192 - - - 3,607,192
Trust deposits 426,595 - - - 426,595
Unearned premiums - 156,196 (156,196) - -
Other liabilities 747,733 85,185 (49,967) 40,650 (3) 823,601
Variable annuity liabilities 5,263,006 - - - 5,263,006
Senior indebtedness 524,835 - - - 524,835
Deferred income taxes 146,847 (16,907) (5,421) (21,094) (4) 103,425
Preferred securities of
grantor trust 52,631 - - - 52,631
Shareholders' equity 1,213,078 221,078 31,247 (252,325) (5) 1,213,078
------------ ------------ -------------- ---------- -----------
Total liabilities and
shareholders' equity $ 16,844,167 $ 3,443,768 $ (202,569) $ (232,769) $19,852,597
============ ============ ============== ========== ===========
Footnotes to the Pro Forma Condensed Balance Sheet appear on the following page.
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SUNAMERICA INC.
PRO FORMA CONDENSED BALANCE SHEET
SEPTEMBER 30, 1995
(IN THOUSANDS)
(CONTINUED)
Note (1) - To record the contractual purchase price.
Note (2) - To adjust deferred acquisition costs to $92,462, computed as follows:
Ford Life's equity at September 30, 1995 after cession of credit life business $ 252,325
Write off Ford Life's deferred acquisition costs, net of related deferred taxes (99,275)
Record acquisition taxes and other costs (40,650)
Record deferred taxes on excess purchase price (32,362)
-------------
Purchase accounting adjusted equity 80,038
Purchase price 172,500
-------------
Deferred acquisition costs arising from this transaction $ 92,462
=============
Note (3) - To record $37,650 of Federal taxes payable resulting from the election to use Section 338 (h)(10)
of the Internal Revenue Code and $3,000 of other acquisition costs.
Note (4) - To adjust deferred taxes for the tax effect, at 35%, of the adjustment made to deferred acquisition costs.
Note (5) - To eliminate Ford Life's adjusted equity.
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