UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
[XX] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 1995
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from to
For Quarter Ended June 30, 1995 Commission File No. 0-16499
American Income 8 Limited Partnership
(Exact name of registrant as specified in its charter)
Massachusetts 04-2947857
(State or other jurisdiction of (IRS Employer
incorporation or organization) Identification No.)
98 North Washington Street, Boston, MA 02114
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (617) 854-5800
(Former name, former address and former fiscal year, if changed since last
report.)
Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the Securities
Exchange Act of 1934 during the preceding 12 months (or for such
shorter period that the registrant was required to file such reports),
and (2) has been subject to such filing requirements for the past 90
days. Yes X No______
APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
PROCEEDINGS DURING THE PRECEDING FIVE YEARS
Indicate by check mark whether the registrant has filed all
documents and reports required to be filed by Sections 12, 13, or 15(d)
of the Securities Exchange Act of 1934 subsequent to the distribution
of securities under a plan confirmed by a court during the preceding 12
months (or for such shorter period that the registrant was required to
file such reports), and (2) has been subject to such filing
requirements for the past 90 days.
Yes_____ No______
AMERICAN INCOME 8 LIMITED PARTNERSHIP
FORM 10-Q
INDEX
PART I. FINANCIAL INFORMATION: Page
Item 1. Financial Statements
Statement of Financial Position
at June 30, 1995 and December 31, 1994 3
Statement of Operations
for the three and six months ended June 30, 1995 and 1994 4
Statement of Cash Flows
for the six months ended June 30, 1995 and 1994 5
Notes to the Financial Statements 6-8
Item 2. Management's Discussion and Analysis of
Financial Condition and Results of Operations 9-12
PART II. OTHER INFORMATION:
Items 1 - 6 13
[CAPTION]
AMERICAN INCOME 8 LIMITED PARTNERSHIP
STATEMENT OF FINANCIAL POSITION
June 30, 1995 and December 31, 1994
(Unaudited)
<TABLE>
<S> <C> <C>
June 30, December 31,
1995 1994
ASSETS
Cash and cash equivalents $740,548 $712,472
Rents receivable, net of allowance
for doubtful accounts of $50,000 6,418 801
and $62,000 at June 30, 1995 and
December 31, 1994, respectively
Accounts receivable - affiliate 129,367 113,192
Equipment at cost, net of accumulated
depreciation of $9,029,907 and
$9,252,967 at June 30, 1995 and
December 31, 1994, respectively 5,424,543 5,769,421
Total assets $6,300,876 $6,595,886
LIABILITIES AND PARTNERS' CAPITAL
Notes payable $490,181 $549,253
Accrued interest 1,153 1,192
Accrued liabilities 15,000 15,500
Accrued liabilities - affiliate 2,440 2,533
Deferred rental income 41,457 40,298
Cash distributions payable to partners 283,530 283,530
Total liabilities 833,761 892,306
Partners' capital (deficit):
General Partner (109,694) (107,329)
Limited Partnership Interests
(74,852 Units; initial purchase
price of $250 each) 5,576,809 5,810,909
Total partners' capital 5,467,115 5,703,580
Total liabilities and partners'
capital $6,300,876 $6,595,886
</TABLE>
[CAPTION]
AMERICAN INCOME 8 LIMITED PARTNERSHIP
STATEMENT OF OPERATIONS
for the three and six months ended June 30, 1995 and 1994
(Unaudited)
<TABLE>
<S> <C> <C> <C> <C>
Three Months Six Months
Ended June 30, Ended June 30,
1995 1994 1995 1994
Income:
Lease revenue $384,797 $546,392 $746,821 $929,375
Interest income 8,525 12,642 17,981 20,946
Gain on sale of equipment -- 71,816 30,000 88,461
Total income 393,322 630,850 794,802 1,038,782
Expenses:
Depreciation 172,439 196,781 344,878 398,188
Interest expense 12,833 20,501 25,750 41,335
Equipment management
fees - affiliate 19,240 27,320 37,341 46,469
Operating expenses -
affiliate 25,594 22,168 56,238 46,629
Total expenses 230,106 266,770 464,207 532,621
Net income $163,216 $364,080 $330,595 $506,161
Net income
per limited partnership
unit $ 2.16 $ 4.82 $ 4.37 $ 6.69
Cash distributions
declared per limited
partnership unit $ 3.75 $ 6.25 $ 7.50 $ 12.50
</TABLE>
[CAPTION]
AMERICAN INCOME 8 LIMITED PARTNERSHIP
STATEMENT OF CASH FLOWS
for the six months ended June 30, 1995 and 1994
(Unaudited)
<TABLE>
<S> <C> <C>
1995 1994
Cash flows from (used in) operating activities
activities:
Net Income $330,595 $506,161
Adjustmehe General Partner
of the Registrant.
By: AFG Leasing Incorporated, a Massachusetts
corporation and general partner in such
general partnership.
By: /s/ Gary M. Romano
Gary M. Romano
Vice President and Controller
(Duly Authorized Officer and
Principal Accounting Officer)
Date: August 11, 1995
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<CASH> 740,548
<SECURITIES> 0
<RECEIVABLES> 185,785
<ALLOWANCES> 50,000
<INVENTORY> 0
<CURRENT-ASSETS> 876,333
<PP&E> 14,454,450
<DEPRECIATION> 9,029,907
<TOTAL-ASSETS> 6,300,876
<CURRENT-LIABILITIES> 343,580
<BONDS> 490,181
<COMMON> 0
0
0
<OTHER-SE> 5,467,115
<TOTAL-LIABILITY-AND-EQUITY> 6,300,876
<SALES> 0
<TOTAL-REVENUES> 746,821
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 438,457
<LOSS-PROVISION> 25,750
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> 0
<INCOME-TAX> 0
<INCOME-CONTINUING> 330,595
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 330,595
<EPS-PRIMARY> 0
<EPS-DILUTED> 0
</TABLE>
