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 7, 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, 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 financial position and
earnings information as of and for the periods ending
September 30, 1995.
See the attached Condensed Consolidated Balance Sheet and
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(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: November 8, 1995 By: /s/ Scott L. Robinson
-----------------------------
Scott L. Robinson
Senior Vice President
and Controller
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EXHIBIT 20(a)
SUNAMERICA INC.
CONDENSED CONSOLIDATED BALANCE SHEET
<CAPTION>
September 30, September 30,
(In thousands) 1995 1994
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<S> <C> <C>
ASSETS
Cash and short-term investments $ 855,350 $ 569,382
Bonds, notes and redeemable preferred stocks:
Available for sale, at fair value 6,589,502 5,270,738
Held for investment, at amortized cost 713,269 1,064,132
Mortgage loans 1,543,285 1,426,924
Common stocks, at fair value 39,906 61,660
Partnerships 774,417 593,854
Real estate 105,637 107,053
Other invested assets 187,593 186,647
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Total investments 10,808,959 9,280,390
Variable annuity assets 5,263,006 4,513,093
Deferred acquisition costs 526,415 581,874
Other assets 245,787 280,868
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TOTAL ASSETS $ 16,844,167 $ 14,656,225
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LIABILITIES AND SHAREHOLDERS' EQUITY
Reserves for fixed annuity contracts $ 4,862,250 $ 4,519,623
Reserves for guaranteed investment contracts 3,607,192 2,783,522
Trust deposits 426,595 442,320
Variable annuity liabilities 5,263,006 4,513,093
Senior indebtedness 524,835 501,497
Payable to brokers for purchases of securities 473,728 643,734
Other payables and accrued liabilities 274,005 217,029
Deferred income taxes 146,847 74,319
Preferred securities of grantor trust 52,631 --
Shareholders' equity 1,213,078 961,088
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TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 16,844,167 $ 14,656,225
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EXHIBIT 20(b)
SUNAMERICA INC.
CONDENSED CONSOLIDATED INCOME STATEMENT
(In thousands, except per share amounts)
<CAPTION>
Quarters ended September 30, Years ended September 30,
------------------------- -------------------------
1995 1994 1995 1994
----------- ----------- ----------- -----------
(Unaudited)
<S> <C> <C> <C> <C>
Net investment income:
Investment income $ 254,917 $ 197,198 $ 905,802 $ 758,150
Interest expense (148,891) (118,435) (540,247) (463,696)
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NET INVESTMENT INCOME 106,026 78,763 365,555 294,454
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NET REALIZED INVESTMENT LOSSES (8,462) (4,558) (33,012) (21,124)
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Fee income:
Variable annuity fees 23,116 20,335 84,583 79,483
Net retained commissions 9,911 7,121 32,584 28,009
Asset management fees 6,536 7,285 26,935 31,302
Loan servicing fees 5,885 -- 19,792 --
Trust fees 3,810 2,891 15,394 11,942
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TOTAL FEE INCOME 49,258 37,632 179,288 150,736
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Other income and expenses:
Surrender charges 2,716 2,682 11,885 10,716
General and administrative
expenses (47,958) (34,588) (166,540) (132,743)
Amortization of deferred
acquisition costs (21,632) (18,351) (80,829) (66,925)
Other, net 5 2,187 3,259 4,887
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TOTAL OTHER INCOME AND EXPENSES (66,869) (48,070) (232,225) (184,065)
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PRETAX INCOME 79,953 63,767 279,606 240,001
Income tax expense (26,500) (20,100) (85,400) (74,700)
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INCOME BEFORE CUMULATIVE EFFECT
OF CHANGE IN ACCOUNTING FOR
INCOME TAXES 53,453 43,667 194,206 165,301
Cumulative effect of change in
accounting for income taxes -- -- -- (33,500)
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NET INCOME $ 53,453 $ 43,667 $ 194,206 $ 131,801
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EARNINGS PER SHARE*:
INCOME BEFORE CUMULATIVE EFFECT
OF CHANGE IN ACCOUNTING FOR
INCOME TAXES $ .80 $ 0.63 $ 2.84 $ 2.39
Cumulative effect of change in
accounting for income taxes -- -- (0.54)
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NET INCOME $ .80 $ 0.63 $ 2.84 $ 1.85
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AVERAGE COMMON SHARES OUTSTANDING* 63,149 62,480 63,114 62,415
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*Adjusted to reflect the effect of a three-for-two stock split to be paid on November 10, 1995,
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