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) APRIL 24, 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
<PAGE>
Item 5. Other Events
-------------
The Registrant has released financial position and earnings
information as of and for the periods ended March 31, 1995.
See the attached Condensed Consolidated Balance Sheet and Condensed
Consolidated Income Statement.
Item 7. Financial Statements, Pro Forma Financial Information and
---------------------------------------------------------
Exhibits
---------
(c) Exhibits
Exhibit 20(a) Condensed Consolidated Balance Sheet
Exhibit 20(b) 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 24, 1995 By: /s/ Scott L. Robinson
-----------------------------
Scott L. Robinson
Senior Vice President
and Controller
<PAGE>
<TABLE>
EXHIBIT 20(a)
SUNAMERICA INC.
CONDENSED CONSOLIDATED BALANCE SHEET
(Unaudited)
<CAPTION>
March 31, September 30,
(In thousands) 1995 1994
-------------- -------------
<S> <C> <C>
ASSETS
Cash and short-term investments $ 743,044 $ 569,382
Bonds, notes and redeemable preferred stocks:
Available for sale, at fair value 5,569,968 5,270,738
Held for investment, at amortized cost 858,888 1,064,132
Mortgage loans 1,519,782 1,426,924
Common stocks, at fair value 44,189 61,660
Real estate 107,007 107,053
Other invested assets 955,503 780,501
-------------- --------------
Total investments 9,798,381 9,280,390
Variable annuity assets 4,535,622 4,513,093
Deferred acquisition costs 573,152 581,874
Other assets 323,121 280,868
-------------- --------------
TOTAL ASSETS $ 15,230,276 $ 14,656,225
============== ==============
LIABILITIES AND SHAREHOLDERS' EQUITY
Reserves for fixed annuity contracts $ 4,798,893 $ 4,519,623
Reserves for guaranteed investment contracts 2,949,632 2,783,522
Trust deposits 448,174 442,320
Variable annuity liabilities 4,535,622 4,513,093
Senior indebtedness 472,835 501,497
Payable to brokers for purchases of securities 573,536 643,734
Other payables and accrued liabilities 268,585 217,029
Deferred income taxes 101,169 74,319
Shareholders' equity 1,081,830 961,088
-------------- --------------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 15,230,276 $ 14,656,225
============== ==============
</TABLE>
<PAGE>
<TABLE>
EXHIBIT 20(b)
SUNAMERICA INC.
CONDENSED CONSOLIDATED INCOME STATEMENT
(In thousands, except per share amounts)
(Unaudited)
<CAPTION>
Three months ended March 31, Six months ended March 31,
---------------------------- --------------------------
1995 1994 1995 1994
-------------- ----------- ------------ -----------
<S> <C> <C> <C> <C>
Net investment income:
Investment income $ 215,457 $ 183,402 $ 417,624 $ 373,933
Interest expense (128,741) (112,666) (252,799) (232,483)
-------------- ----------- ------------ -----------
NET INVESTMENT INCOME 86,716 70,736 164,825 141,450
-------------- ----------- ------------ -----------
NET REALIZED INVESTMENT LOSSES (8,344) (5,887) (15,575) (11,254)
-------------- ----------- ------------ -----------
Fee income:
Variable annuity fees 19,768 19,724 40,221 39,311
Asset management fees 6,662 8,127 13,687 16,476
Net retained commissions 7,383 7,070 14,003 13,707
Trust fees 3,942 2,916 7,692 5,970
Loan servicing fees 6,055 -- 8,033 --
-------------- ----------- ------------ ------------
TOTAL FEE INCOME 43,810 37,837 83,636 75,464
-------------- ----------- ------------ ------------
Other income and expenses:
Surrender charges 3,412 2,637 6,156 5,151
General and administrative
expenses (41,116) (32,500) (74,224) (65,957)
Amortization of deferred
acquisition costs (18,740) (16,090) (37,414) (31,333)
Other, net 1,016 1,074 2,884 1,550
------------- ----------- ------------ ------------
TOTAL OTHER INCOME AND EXPENSES (55,428) (44,879) (102,598) (90,589)
------------- ----------- ------------ ------------
PRETAX INCOME 66,754 57,807 130,288 115,071
Income tax expense (19,400) (17,800) (37,800) (35,500)
------------- ----------- ------------ ------------
INCOME BEFORE CUMULATIVE EFFECT
OF CHANGE IN ACCOUNTING FOR
INCOME TAXES 47,354 40,007 92,488 79,571
Cumulative effect of change in
accounting for income taxes -- -- -- (33,500)
------------- ----------- ------------ ------------
NET INCOME $ 47,354 $ 40,007 $ 92,488 $ 46,071
============= =========== ============ ============
EARNINGS PER SHARE:
INCOME BEFORE CUMULATIVE EFFECT
OF CHANGE IN ACCOUNTING FOR
INCOME TAXES $ 1.03 $ 0.86 $ 2.01 $ 1.71
Cumulative effect of change in
accounting for income taxes -- -- -- (0.80)
------------- ----------- ------------ -----------
NET INCOME $ 1.03 $ 0.86 $ 2.01 $ 0.91
============= =========== ============ ===========
AVERAGE COMMON SHARES
OUTSTANDING 42,067 41,604 41,959 41,622
============= =========== ============ ===========
</TABLE>
