-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, CX/qM83XCaM78KmB4Z6brUWefnOcFzV/bvGtrmOxofQ7GmXCpzNqw//8Mo00SeVB 7nJ2seUTa+ptzJqq4MwA7w== 0000950152-02-006874.txt : 20020910 0000950152-02-006874.hdr.sgml : 20020910 20020910091959 ACCESSION NUMBER: 0000950152-02-006874 CONFORMED SUBMISSION TYPE: N-30D PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20020630 FILED AS OF DATE: 20020910 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NATIONWIDE VL SEPARATE ACCOUNT C CENTRAL INDEX KEY: 0001044822 IRS NUMBER: 311000740 STATE OF INCORPORATION: OH FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-30D SEC ACT: 1940 Act SEC FILE NUMBER: 811-08351 FILM NUMBER: 02760134 BUSINESS ADDRESS: STREET 1: NATIONWIDE LIFE & ANNUTIY INSURANCE CO STREET 2: PO BOX 182008 CITY: COLUMBUS STATE: OH ZIP: 43218-2008 BUSINESS PHONE: 8008603946 MAIL ADDRESS: STREET 1: NATIONWIDE LIFE & ANNUITY INSURANCE CO STREET 2: PO BOX 182008 CITY: COLUMBUS STATE: OH ZIP: 43218-2008 N-30D 1 l96119anv30d.txt NATIONWIDE VL SEPARATE ACCOUNT-C > N-30D Nationwide(R) VL Separate Account-C June 30, 2002 [THE BEST OF AMERICA LOGO] America's FUTURE Life Series(SM) 2002 SEMI-ANNUAL REPORT [NATIONWIDE(R) LOGO] Nationwide Life and Annuity Insurance Company Home Office: Columbus, Ohio [NATIONWIDE LOGO] NATIONWIDE LIFE AND ANNUITY INSURANCE COMPANY ONE NATIONWIDE PLAZA, COLUMBUS, OHIO 43215 - 2220 [PRESIDENT'S PICTURE] PRESIDENT'S MESSAGE We at Nationwide Life and Annuity Insurance Company are pleased to bring you the 2002 semi-annual report of the Nationwide VL Separate Account-C. Much has been written and reported recently about the breakdown of ethics and integrity of U.S. Corporations. While we avoid passing judgement, publicly known facts of the recent failures offer grim indictments that are as inexcusable as they are sensational. It is no small wonder that public confidence has been rattled. We at Nationwide acknowledge our responsibility to adhere to the highest ethical standards in every aspect of our corporate behavior. We emphasize and promote our corporate values throughout our organization and endeavor to demonstrate them daily in all our affairs. We know that we will be judged by our actions, not our words. We know also that it is going to take the collective right actions of the entire business community to regain the public trust. We ask that you watch us as we do our part. It continues to be a challenging market for equity investors. Investor trepidation and uncertainty about corporate earnings contribute to the disconnect of the equity markets from the more sanguine economic environment. We believe this will be corrected over time. If history is any guide, we know that a bear market has preceded every bull market, and that neither is perpetual. Nationwide continues to invest in new products and improved service delivery to help you meet your financial planning and retirement savings needs. We sincerely appreciate your confidence in Nationwide, and in our life insurance and annuity products. Be assured that your personal satisfaction with our products and service is our foremost priority. /s/ Joseph J. Gasper, President Joseph J. Gasper, President August 15, 2002 3 HOW TO READ THE SEMI-ANNUAL REPORT This semi-annual report is a presentation of the variable account as a whole and only describes the underlying contracts and products of the variable account in general terms. Please note the variable account may have more than one variable product available. Such products may have different underlying mutual funds available from those available in your contract. Therefore, not all funds listed in this report may be available in your contract. Please refer to your most recent account statement for specific information about your investment in the Nationwide VL Separate Account-C. Rules and regulations of the U.S. Securities and Exchange Commission and recognized conventions of accounting principles generally accepted in the United States of America prescribe the format and content of this report. We also invite you to call our service center at 1-800-351-8808 if you have questions about your account, or you may access your account using our voice response unit. And, please visit our web-site at www.BestofAmerica.com for additional information about your contract and to learn more about other products and services offered by Nationwide Financial. THE SEMI-ANNUAL REPORT HAS FOUR MAJOR FINANCIAL SECTIONS: STATEMENT OF ASSETS, LIABILITIES AND CONTRACT OWNERS' EQUITY This statement begins on page 5 and lists all of the underlying mutual funds of the variable account, the number of shares owned, the amount paid for the shares and their fair value as of the close of business on June 30, 2002. The mutual funds are listed in alphabetical order. The fair value of the assets changes as the underlying mutual funds change in value. As contract owners make exchange transactions between the funds, the number of shares increases or decreases accordingly. When money is deposited or withdrawn by a contract owner, shares are correspondingly purchased or redeemed. The total fair value of the funds is equal to the Total investments of the variable account. Accounts receivable, if applicable, represents an asset of the variable account for fund shares purchased by contract owners and reinvested dividend shares added to contract owners' accounts, but not yet added to Total investments. Total investments plus Accounts receivable equal Total assets of the variable account. Accounts payable, if applicable, is a liability of the variable account for fund shares redeemed by contract owners but not yet deducted from Total investments. The Accounts receivable and Accounts payable balances are aggregated and presented as a net amount. Total assets minus Accounts payable equals Contract owners' equity. A summary of Contract owners' equity by fund series may be found on page 49. This summary also includes certain performance measures for each fund series for the periods indicated. STATEMENTS OF OPERATIONS, STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY These statements begin on page 9 and present the financial activity of each underlying mutual fund sub-account of the variable account, for the periods indicated. The STATEMENTS OF OPERATIONS show income and expenses to the variable account from Investment activity for reinvested dividends and capital gain distributions paid by the underlying mutual funds; and expenses included are the mortality, expense and, if applicable, an administration charge, which are assessed through the daily unit value calculation and that represent an expense to the variable account and its contract owners. This statement also shows the realized gain or loss as mutual fund shares are sold, and the change in unrealized gain or loss, which represents the changes in fair value of the underlying fund shares. The STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY includes Investment activity for income and expenses shown on the STATEMENTS OF OPERATIONS. In addition, the Equity transactions section of this statement illustrates the receipt of purchase payments, as new contracts are sold or additional payments are made to existing contracts. Also presented are deductions from the variable account when the contract owners withdraw money, as well as any contract level charges. The sum of the above two sections represents the Net change in contract owners' equity which, when added to the beginning Contract owners' equity, equals Contract owners' equity at the end of the reporting period. The CHANGES IN UNITS section illustrates the number of units purchased and redeemed for each mutual fund sub-account during the period reported. NOTES TO FINANCIAL STATEMENTS, beginning on page 44, provide further disclosures about the variable account and its underlying contract provisions. 4 NATIONWIDE VL SEPARATE ACCOUNT-C STATEMENT OF ASSETS, LIABILITIES AND CONTRACT OWNERS' EQUITY JUNE 30, 2002 (UNAUDITED) ASSETS: Investments at fair value: American Century VP - Balanced Fund-Class I (ACVPBal) 96,937 shares (cost $629,480) .................................................................... $ 584,533 American Century VP - Capital Appreciation Fund-Class I (ACVPCapAp) 118,543 shares (cost $916,286) ................................................................... 798,982 American Century VP - Income & Growth Fund-Class I (ACVPIncGr) 1,510,201 shares (cost $9,971,723) ............................................................... 8,668,556 American Century VP - International Fund-Class I (ACVPInt) 3,256,065 shares (cost $24,628,568) .............................................................. 20,350,405 American Century VP - Value Fund-Class I (ACVPVal) 1,358,456 shares (cost $9,436,524) ............................................................... 9,142,407 Comstock GVIT Value Fund - Class I (ComGVITVal) 26,692 shares (cost $267,761) .................................................................... 236,222 Credit Suisse Trust - Global Post-Venture Capital Portfolio (CSGPVen) 63,669 shares (cost $587,955) .................................................................... 531,638 Credit Suisse Trust - International Focus Portfolio (CSIntEq) 21,198 shares (cost $178,988) .................................................................... 174,039 Credit Suisse Trust - Large Cap Value Portfolio (CSLCapV) 22,651 shares (cost $282,560) .................................................................... 262,071 Credit Suisse Trust - Small Cap Growth Portfolio (CSSmCapGr) 140,789 shares (cost $1,912,099) ................................................................. 1,544,450 Dreyfus GVIT Mid Cap Index Fund - Class I (DryMidCapIx) 103,597 shares (cost $1,394,665) ................................................................. 1,307,397 Dreyfus IP - European Equity Portfolio (DryEuroEq) 9,511 shares (cost $97,007) ...................................................................... 93,498 Dreyfus Stock Index Fund (DryStkIx) 1,560,151 shares (cost $48,202,553) .............................................................. 39,456,221 Dreyfus VIF - Appreciation Portfolio (DryVIFApp) 240,568 shares (cost $8,492,895) ................................................................. 7,683,753 Dreyfus VIF - Growth and Income Portfolio (DryVIFGrInc) 37,443 shares (cost $774,784) .................................................................... 685,200 Federated GVIT High Income Bond Fund - Class I (FGVITHiInc) 128,154 shares (cost $961,526) ................................................................... 912,454 Federated IS - Federated Quality Bond Fund II-Primary Shares (FedQualBd) 216,849 shares (cost $2,390,418) ................................................................. 2,383,166 Fidelity(R) VIP - Equity-Income Portfolio: Initial Class (FidVIPEI) 17,930 shares (cost $394,528) .................................................................... 367,916
(Continued) 5 NATIONWIDE VL SEPARATE ACCOUNT-C STATEMENT OF ASSETS, LIABILITIES AND CONTRACT OWNERS' EQUITY, CONTINUED Fidelity(R) VIP - Equity-Income Portfolio: Service Class (FidVIPEIS) 277,430 shares (cost $5,810,842) ................................................................. 5,676,225 Fidelity(R) VIP - Growth Portfolio: Initial Class (FidVIPGr) 198,630 shares (cost $6,908,589) ................................................................. 5,378,894 Fidelity(R) VIP - Growth Portfolio: Service Class (FidVIPGrS) 595,729 shares (cost $23,413,016) ................................................................ 16,078,721 Fidelity(R) VIP - High Income Portfolio: Initial Class (FidVIPHI) 282,223 shares (cost $1,712,405) ................................................................. 1,546,581 Fidelity(R) VIP - High Income Portfolio: Service Class (FidVIPHIS) 494,203 shares (cost $3,063,738) ................................................................. 2,698,349 Fidelity(R) VIP - Overseas Portfolio: Initial Class (FidVIPOv) 87,051 shares (cost $1,218,509) .................................................................. 1,169,094 Fidelity(R) VIP - Overseas Portfolio: Service Class (FidVIPOvS) 300,795 shares (cost $4,561,772) ................................................................. 4,027,643 Fidelity(R) VIP II - Asset Manager Portfolio: Initial Class (FidVIPAM) 341,065 shares (cost $4,782,275) ................................................................. 4,365,628 Fidelity(R) VIP II - Contrafund Portfolio: Initial Class (FidVIPCon) 51,041 shares (cost $1,033,668) .................................................................. 1,011,132 Fidelity(R) VIP II - Contrafund Portfolio: Service Class (FidVIPConS) 305,134 shares (cost $6,834,054) ................................................................. 6,026,398 Fidelity(R) VIP III - Growth Opportunities Portfolio: Initial Class (FidVIPGrOp) 52,166 shares (cost $800,738) .................................................................... 678,157 Fidelity(R) VIP III - Growth Opportunities Portfolio: Service Class (FidVIPGrOpS) 75,176 shares (cost $1,176,885) .................................................................. 976,534 Gartmore GVIT Government Bond Fund - Class I (GVITGvtBd) 5,146,817 shares (cost $60,713,789) .............................................................. 61,041,244 Gartmore GVIT Growth Fund - Class I (GVITGrowth) 219,711 shares (cost $2,484,544) ................................................................. 1,920,270 Gartmore GVIT Money Market Fund - Class I (GVITMyMkt) 99,526,736 shares (cost $99,526,736) ............................................................. 99,526,736 Gartmore GVIT Small Cap Growth Fund - Class I (GVITSmCapGr) 71,834 shares (cost $962,771) .................................................................... 837,584 Gartmore GVIT Small Cap Value Fund - Class I (GVITSmCapVal) 843,850 shares (cost $8,557,758) ................................................................. 7,484,952 Gartmore GVIT Small Company Fund - Class I (GVITSmComp) 517,668 shares (cost $9,714,213) ................................................................. 9,230,012 Gartmore GVIT Total Return Fund - Class I (GVITTotRt) 204,463 shares (cost $2,008,506) ................................................................. 1,895,372 Gartmore GVIT Worldwide Leaders Fund - Class I (GVITWLead) 124,753 shares (cost $1,445,895) ................................................................. 1,080,362 J.P. Morgan GVIT Balanced Fund - Class I (JPMorBal) 183,060 shares (cost $1,708,603) ................................................................. 1,557,837
6 Janus AS - Capital Appreciation Portfolio - Service Shares (JanCapAp) 132,164 shares (cost $2,693,260) ................................................................. 2,521,688 Janus AS - Global Technology Portfolio - Service Shares (JanGlTech) 323,593 shares (cost $1,214,641) ................................................................. 928,713 Janus AS - International Growth Portfolio - Service Shares (JanIntGro) 54,937 shares(cost $1,235,421) ................................................................... 1,120,162 MAS GVIT Multi Sector Bond Fund - Class I (MGVITMultiSec) 160,886 shares (cost $1,486,195) ................................................................. 1,457,629 Nationwide GVIT Strategic Value Fund - Class I (NWGVITStrVal) 56,712 shares (cost $523,620) .................................................................... 466,743 Neuberger Berman AMT - Growth Portfolio (NBAMTGro) 63,330 shares (cost $688,946) .................................................................... 585,805 Neuberger Berman AMT - Guardian Portfolio (NBAMTGuard) 154,273 shares (cost $2,274,186) ................................................................. 1,993,204 Neuberger Berman AMT - Limited Maturity Bond Portfolio (NBAMTLMat) 292,693 shares (cost $3,848,759) ................................................................. 3,828,428 Neuberger Berman AMT - Mid-Cap Growth Portfolio (NBAMTMCGr) 80,696 shares (cost $1,334,593) .................................................................. 1,132,159 Neuberger Berman AMT - Partners Portfolio (NBAMTPart) 497,688 shares (cost $7,814,562) ................................................................. 6,743,674 Oppenheimer Aggressive Growth Fund/VA - Initial Class (OppAggGro) 192,408 shares (cost $8,157,321) ................................................................. 6,445,652 Oppenheimer Bond Fund/VA - Initial Class (OppBdFd) 149,861 shares (cost $1,668,910) ................................................................. 1,591,526 Oppenheimer Capital Appreciation Fund/VA - Initial Class (OppCapAp) 355,947 shares (cost $14,324,049) ................................................................ 10,468,392 Oppenheimer Global Securities Fund/VA - Initial Class (OppGlSec) 80,998 shares (cost $1,826,044) .................................................................. 1,709,053 Oppenheimer Main Street Growth & Income Fund/VA - Initial Class (OppMSGrInc) 28,662 shares (cost $528,048) .................................................................... 502,738 Oppenheimer Multiple Strategies Fund/VA - Initial Class (OppMultStr) 56,558 shares (cost $828,875) .................................................................... 772,585 Strong GVIT Mid Cap Growth Fund - Class I (SGVITMdCpGr) 57,428 shares (cost $647,120) .................................................................... 507,666 Strong Opportunity Fund II, Inc. (StOpp2) 460,919 shares (cost $9,925,557) ................................................................. 7,605,169 Strong VIF - Strong Discovery Fund II (StDisc2) 6,431 shares (cost $66,690) ...................................................................... 63,350 Strong VIF - Strong International Stock Fund II (StIntStk2) 41,471 shares (cost $299,685) .................................................................... 282,005 The Dreyfus Socially Responsible Growth Fund, Inc. (DrySRGro) 16,445 shares (cost $451,252) .................................................................... 363,443 Van Eck WIT - Worldwide Emerging Markets Fund (VEWrldEMkt) 46,139 shares (cost $375,070) .................................................................... 400,489
(Continued) 7 NATIONWIDE VL SEPARATE ACCOUNT-C STATEMENT OF ASSETS, LIABILITIES AND CONTRACT OWNERS' EQUITY, CONTINUED Van Eck WIT - Worldwide Hard Assets Fund (VEWrldHAs) 11,790 shares (cost $133,992) .................................................................... 136,647 Van Kampen UIF - Emerging Markets Debt Portfolio (VKEmMkt) 39,685 shares (cost $290,556) .................................................................... 275,809 Van Kampen UIF - Mid Cap Growth Portfolio (VKMidCapG) 66,116 shares (cost $537,173) .................................................................... 470,744 Van Kampen UIF - U.S. Real Estate Portfolio (VKUSRealEst) 201,268 shares (cost $2,512,942) ................................................................. 2,684,918 ------------ Total Investment ................................................................................ 384,449,024 Accounts Receivable .................................................................................... 10,049 ------------ Total Assets .................................................................................... 384,459,073 ACCOUNTS PAYABLE .......................................................................................... -- ------------ CONTRACT OWNERS' EQUITY ................................................................................... $384,459,073 ============
See accompanying notes to financial statements. 8 NATIONWIDE VL SEPARATE ACCOUNT-C STATEMENTS OF OPERATIONS SIX MONTH PERIODS ENDED JUNE 30, 2002, 2001 AND 2000 (UNAUDITED)
Total ACVPBal ACVPCapAp ------------------------------------------ -------------------------- -------------------------- 2002 2001 2000 2002 2001 2000 2002 2001 2000 ------------- ------------- ------------ --------- --------- ---- --------- --------- ---- INVESTMENT ACTIVITY: Reinvested dividends....... $ 4,221,530 4,647,356 1,735,770 16,656 14,224 -- -- -- -- Mortality and expense risk charges (note 3)..... (700,778) (631,400) (261,489) (982) (863) -- (1,349) (1,403) -- ------------- ------------- ------------ --------- --------- ---- --------- --------- ---- Net investment income...... 3,520,752 4,015,956 1,474,281 15,674 13,361 -- (1,349) (1,403) -- ------------- ------------- ------------ --------- --------- ---- --------- --------- ---- Proceeds from mutual funds shares sold......... 107,999,712 127,124,155 56,886,921 216,957 276,987 -- 250,055 345,824 -- Cost of mutual fund shares sold............... (124,523,293) (142,318,235) (52,598,072) (222,195) (288,833) -- (295,402) (607,331) -- ------------- ------------- ------------ --------- --------- ---- --------- --------- ---- Realized gain (loss) on investments............ (16,523,581) (15,194,080) 4,288,849 (5,238) (11,846) -- (45,347) (261,507) -- Change in unrealized gain (loss) on investments............... (15,128,886) (11,520,480) (6,001,647) (52,290) (11,397) -- (40,133) (149,985) -- ------------- ------------- ------------ --------- --------- ---- --------- --------- ---- Net gain (loss) on investments............... (31,652,467) (26,714,560) (1,712,798) (57,528) (23,243) -- (85,480) (411,492) -- ------------- ------------- ------------ --------- --------- ---- --------- --------- ---- Reinvested capital gains... 812,410 8,499,040 2,666,845 -- 16,886 -- -- 357,574 -- ------------- ------------- ------------ --------- --------- ---- --------- --------- ---- Net increase (decrease) in contract owners' equity resulting from operations................ $(27,319,305) (14,199,564) 2,428,328 (41,854) 7,004 -- (86,829) (55,321) -- ============= ============= ============ ========= ========= ==== ========= ========= ====
ACVPIncGr ACVPInt ACVPVal ------------------------------------ --------------------------------- ------------------------------- 2002 2001 2000 2002 2001 2000 2002 2001 2000 ------------ ----------- ----------- ----------- ----------- --------- --------- ----------- --------- INVESTMENT ACTIVITY: Reinvested dividends....... $ 66,042 54,204 32,481 132,963 11,243 4,738 70,030 87,367 599 Mortality and expense risk charges (note 3).......... (10,684) (10,772) (9,509) (34,075) (22,653) (8,066) (14,061) (11,582) (963) ------------ ----------- ----------- ----------- ----------- --------- --------- ----------- --------- Net investment income...... 55,358 43,432 22,972 98,888 (11,410) (3,328) 55,969 75,785 (364) ------------ ----------- ----------- ----------- ----------- --------- --------- ----------- --------- Proceeds from mutual funds shares sold............... 617,097 4,102,548 2,731,887 2,066,121 1,133,582 938,955 629,830 2,531,865 791,886 Cost of mutual fund shares sold...................... (748,005) (4,752,678) (2,533,266) (3,565,217) (1,511,561) (574,279) (585,710) (2,397,897) (762,705) ------------ ----------- ----------- ----------- ----------- --------- --------- ----------- --------- Realized gain (loss) on investments............... (130,908) (650,130) 198,621 (1,499,096) (377,979) 364,676 44,120 133,968 29,181 Change in unrealized gain (loss) on investments..... (924,627) 392,274 (565,992) 407,241 (3,506,169) (757,285) (972,487) 110,024 (22,743) ------------ ----------- ----------- ----------- ----------- --------- --------- ----------- --------- Net gain (loss) on investments............... (1,055,535) (257,856) (367,371) (1,091,855) (3,884,148) (392,609) (928,367) 243,992 6,438 ------------ ----------- ----------- ----------- ----------- --------- --------- ----------- --------- Reinvested capital gains... -- -- -- -- 1,241,326 70,841 453,115 -- 1,532 ------------ ----------- ----------- ----------- ----------- --------- --------- ----------- --------- Net increase (decrease) in contract owners'equity resulting from operations................ $(1,000,177) (214,424) (344,399) (992,967) (2,654,232) (325,096) (419,283) 319,777 7,606 ============ =========== =========== =========== =========== ========= ========= =========== =========
(Continued) 9 NATIONWIDE VL SEPARATE ACCOUNT-C STATEMENTS OF OPERATIONS, Continued Six Month Periods Ended June 30, 2002, 2001 and 2000 (UNAUDITED)
ComGVITVal CSGPVen CSIntEq ----------------------------- ------------------------------- ----------------------------- 2002 2001 2000 2002 2001 2000 2002 2001 2000 ---------- --------- -------- --------- ----------- --------- --------- --------- --------- Investment activity: Reinvested dividends ..... $ 1,868 36,407 708 -- -- -- -- -- -- Mortality and expense risk charges (note 3) ......... (590) (2,648) (315) (1,110) (1,909) (1,647) (691) (548) (806) ---------- --------- -------- --------- ----------- --------- --------- --------- --------- Net investment income ..... 1,278 33,759 393 (1,110) (1,909) (1,647) (691) (548) (806) ---------- --------- -------- --------- ----------- --------- --------- --------- --------- Proceeds from mutual funds shares sold .............. 279,809 93,493 77,776 307,498 673,246 287,044 550,775 281,932 808,533 Cost of mutual fund shares sold ..................... (316,237) (107,341) (71,109) (369,160) (1,169,890) (171,771) (546,380) (413,013) (744,415) ---------- --------- -------- --------- ----------- --------- --------- --------- --------- Realized gain (loss) on investments .............. (36,428) (13,848) 6,667 (61,662) (496,644) 115,273 4,395 (131,081) 64,118 Change in unrealized gain (loss) on investments .... (12,450) (267,346) (1,906) (21,997) 244,399 (76,795) (7,489) 72,932 (123,101) ---------- --------- -------- --------- ----------- --------- --------- --------- --------- Net gain (loss) on investments .............. (48,878) (281,194) 4,761 (83,659) (252,245) 38,478 (3,094) (58,149) (58,983) ---------- --------- -------- --------- ----------- --------- --------- --------- --------- Reinvested capital gains .. -- -- -- -- -- -- -- -- -- ---------- --------- -------- --------- ----------- --------- --------- --------- --------- Net increase (decrease) in contract owners' equity resulting from operations ............... $ (47,600) (247,435) 5,154 (84,769) (254,154) 36,831 (3,785) (58,697) (59,789) ========== ========= ======== ========= =========== ========= ========= ========= =========
CSLCapV CSSmCapGr DryMidCapIx ------------------------------- -------------------------- ------------------------------ 2002 2001 2000 2002 2001 2000 2002 2001 2000 ----------- --------- --------- ----------- -------- ----- ---------- --------- --------- Investment activity: Reinvested dividends ...... $ -- -- -- -- -- -- 1,893 6,009 2,829 Mortality and expense risk charges (note 3) ......... (385) (710) (632) (10,422) (6,778) -- (2,505) (3,671) (1,592) ----------- --------- --------- ----------- -------- ----- ---------- --------- --------- Net investment income ..... (385) (710) (632) (10,422) (6,778) -- (612) 2,338 1,237 ----------- --------- --------- ----------- -------- ----- ---------- --------- --------- Proceeds from mutual funds shares sold .............. 17,677 650,692 627,222 4,658,681 136,406 -- 507,819 822,556 204,147 Cost of mutual fund shares sold ..................... (18,414) (644,314) (695,105) (5,831,670) (138,509) -- (474,212) (821,289) (195,220) ----------- --------- --------- ----------- -------- ----- ---------- --------- --------- Realized gain (loss) on investments .............. (737) 6,378 (67,883) (1,172,989) (2,103) -- 33,607 1,267 8,927 Change in unrealized gain (loss) on investments .... (22,312) (27,065) 32,445 (291,537) (25,391) -- (111,556) 47,388 52,473 ----------- --------- --------- ----------- -------- ----- ---------- --------- --------- Net gain (loss) on investments .............. (23,049) (20,687) (35,438) (1,464,526) (27,494) -- (77,949) 48,655 61,400 ----------- --------- --------- ----------- -------- ----- ---------- --------- --------- Reinvested capital gains .. -- -- -- -- -- -- 4,521 -- -- ----------- --------- --------- ----------- -------- ----- ---------- --------- --------- Net increase (decrease) in contract owners' equity resulting from operations ............... $ (23,434) (21,397) (36,070) (1,474,948) (34,272) -- (74,040) 50,993 62,637 =========== ========= ========= =========== ======== ===== ========== ========= =========
10 NATIONWIDE VL SEPARATE ACCOUNT-C STATEMENTS OF OPERATIONS, Continued Six Month Periods Ended June 30, 2002, 2001 and 2000 (UNAUDITED)
DryEuroEq DryStkIx DryVIFApp ----------------------------- ------------------------------------- ---------------------------------- 2002 2001 2000 2002 2001 2000 2002 2001 2000 --------- --------- --------- ------------ ------------ ----------- ------------ ----------- --------- Investment activity: Reinvested dividends....... $ -- -- -- 267,175 264,990 174,261 970 1,778 104 Mortality and expense risk charges (note 3).......... (143) (213) (158) (83,046) (92,753) (67,037) (27,135) (20,709) (3,919) --------- --------- --------- ------------ ------------ ----------- ------------ ----------- --------- Net investment income...... (143) (213) (158) 184,129 172,237 107,224 (26,165) (18,931) (3,815) --------- --------- --------- ------------ ------------ ----------- ------------ ----------- --------- Proceeds from mutual funds shares sold............... 134,947 586,613 666,007 12,458,817 22,815,031 8,794,037 8,975,193 1,222,662 585,473 Cost of mutual fund shares sold...................... (135,854) (660,593) (636,617) (17,636,749) (25,119,758) (7,287,267) (10,581,812) (1,251,920) (555,624) --------- --------- --------- ------------ ------------ ----------- ------------ ----------- --------- Realized gain (loss) on investments............... (907) (73,980) 29,390 (5,177,932) (2,304,727) 1,506,770 (1,606,619) (29,258) 29,849 Change in unrealized gain (loss) on investments..... (3,315) (15) (7,222) (1,934,024) (840,067) (1,862,189) 186,545 (501,710) 67,617 --------- --------- --------- ------------ ------------ ----------- ------------ ----------- --------- Net gain (loss) on investments............... (4,222) (73,995) 22,168 (7,111,956) (3,144,794) (355,419) (1,420,074) (530,968) 97,466 --------- --------- --------- ------------ ------------ ----------- ------------ ----------- --------- Reinvested capital gains... -- -- 134 -- 9,824 38,195 -- -- -- --------- --------- --------- ------------ ------------ ----------- ------------ ----------- --------- Net increase (decrease) in contract owners' equity resulting from operations................ $ (4,365) (74,208) 22,144 (6,927,827) (2,962,733) (210,000) (1,446,239) (549,899) 93,651 ========= ========= ========= ============ ============ =========== ============ =========== =========
DryVIFGrInc FGVITHiInc FedQualBd -------------------------- ------------------------------- --------------------------- 2002 2001 2000 2002 2001 2000 2002 2001 2000 ----------- --------- ---- ----------- --------- --------- --------- -------- -------- Investment activity: Reinvested dividends ...... $ 1,902 1,832 -- 59,216 94,856 63,565 44,700 6,679 189 Mortality and expense risk charges (note 3) ......... (1,227) (1,149) -- (3,420) (3,429) (2,275) (2,270) (580) (270) ----------- --------- ---- ----------- --------- --------- --------- -------- -------- Net investment income ..... 675 683 -- 55,796 91,427 61,290 42,430 6,099 (81) ----------- --------- ---- ----------- --------- --------- --------- -------- -------- Proceeds from mutual funds shares sold .............. 211,751 196,325 -- 1,620,411 230,103 205,821 960,320 57,649 36,352 Cost of mutual fund shares sold ..................... (222,638) (205,197) -- (1,689,824) (262,774) (216,238) (950,267) (54,214) (37,004) ----------- --------- ---- ----------- --------- --------- --------- -------- -------- Realized gain (loss) on investments .............. (10,887) (8,872) -- (69,413) (32,671) (10,417) 10,053 3,435 (652) Change in unrealized gain (loss) on investments .... (102,866) 10,433 -- 55,345 (60,939) (54,383) (27,543) (343) 13,574 ----------- --------- ---- ----------- --------- --------- --------- -------- -------- Net gain (loss) on investments .............. (113,753) 1,561 -- (14,068) (93,610) (64,800) (17,490) 3,092 12,922 ----------- --------- ---- ----------- --------- --------- --------- -------- -------- Reinvested capital gains .. -- 9,105 -- -- -- 2 16,725 688 -- ----------- --------- ---- ----------- --------- --------- --------- -------- -------- Net increase (decrease) in contract owners' equity resulting from operations ............... $ (113,078) 11,349 -- 41,728 (2,183) (3,508) 41,665 9,879 12,841 =========== ========= ==== =========== ========= ========= ========= ======== ========
(Continued) 11 NATIONWIDE VL SEPARATE ACCOUNT-C STATEMENTS OF OPERATIONS, CONTINUED SIX MONTH PERIODS ENDED JUNE 30, 2002, 2001 AND 2000 (UNAUDITED)
FIDVIPEI FIDVIPEIS FIDVIPGR -------- --------- -------- 2002 2001 2000 2002 2001 2000 2002 2001 2000 ---- ---- ---- ---- ---- ---- ---- ---- ---- INVESTMENT ACTIVITY: Reinvested dividends $ 4,634 -- -- 62,028 57,416 10,995 14,590 -- -- Mortality and expense risk charges (note 3) (653) (3,437) -- (8,353) (7,242) (2,980) (9,226) (8,792) -- ---------- ---------- ------- -------- -------- ---------- ---------- ---------- ------ Net investment income 3,981 (3,437) -- 53,675 50,174 8,015 5,364 (8,792) -- ---------- ---------- ------- -------- -------- ---------- ---------- ---------- ------ Proceeds from mutual funds shares sold 564,727 2,288,794 -- 773,298 739,869 1,818,883 598,812 2,098,547 -- Cost of mutual fund shares sold (568,074) (2,157,498) -- (837,787) (754,044) (1,925,957) (693,571) (2,088,854) -- ---------- ---------- ------- -------- -------- ---------- ---------- ---------- ------ Realized gain (loss) on investments (3,347) 131,296 -- (64,489) (14,175) (107,074) (94,759) 9,693 -- Change in unrealized gain (loss) on investments (42,288) (22,154) -- (409,591) (250,449) (105,224) (1,209,523) 1,807 -- ---------- ---------- ------- -------- -------- ---------- ---------- ---------- ------ Net gain (loss) on investments (45,635) 109,142 -- (474,080) (264,624) (212,298) (1,304,282) 11,500 -- ---------- ---------- ------- -------- -------- ---------- ---------- ---------- ------ Reinvested capital gains 6,307 -- -- 89,393 169,378 42,410 -- -- -- ---------- ---------- ------- -------- -------- ---------- ---------- ---------- ------ Net increase (decrease) in contract owners' equity resulting from operations $ (35,347) 105,705 -- (331,012) (45,072) (161,873) (1,298,918) 2,708 -- ========== ========== ======= ======== ======== ========== ========== ========== ======
FIDVIPGRS FIDVIPHI FIDVIPHIS --------- -------- --------- 2002 2001 2000 2002 2001 2000 2002 2001 2000 ---- ---- ---- ---- ---- ---- ---- ---- ---- INVESTMENT ACTIVITY: Reinvested dividends $ 20,510 -- 9,556 219,668 -- -- 155,555 482,621 129,079 Mortality and expense risk charges (note 3) (22,775) (31,554) (22,803) (3,692) (2,127) -- (3,667) (5,677) (4,098) ----------- ---------- ---------- ---------- -------- ------- -------- ---------- -------- Net investment income (2,265) (31,554) (13,247) 215,976 (2,127) -- 151,888 476,944 124,981 ----------- ---------- ---------- ---------- -------- ------- -------- ---------- -------- Proceeds from mutual funds shares sold 1,434,845 6,561,982 1,521,224 1,113,951 225,765 -- 95,920 3,366,718 710,612 Cost of mutual fund shares sold (2,398,626) (8,523,454) (1,234,724) (1,507,775) (251,448) -- (128,653) (4,290,380) (766,799) ----------- ---------- ---------- ---------- -------- ------- -------- ---------- -------- Realized gain (loss) on investments (963,781) (1,961,472) 286,500 (393,824) (25,683) -- (32,733) (923,662) (56,187) Change in unrealized gain (loss) on investments (2,882,038) (2,001,784) (780,706) 52,205 (187,312) -- (261,294) 281,090 (179,408) ----------- ---------- ---------- ---------- -------- ------- -------- ---------- -------- Net gain (loss) on investments (3,845,819) (3,963,256) (494,206) (341,619) (212,995) -- (294,027) (642,572) (235,595) ----------- ---------- ---------- ---------- -------- ------- -------- ---------- -------- Reinvested capital gains -- 1,482,587 1,140,977 -- -- -- -- -- -- ----------- ---------- ---------- ---------- -------- ------- -------- ---------- -------- Net increase (decrease) in contract owners' equity resulting from operations $(3,848,084) (2,512,223) 633,524 (125,643) (215,122) -- (142,139) (165,628) (110,614) =========== ========== ========== ========== ======== ======= ======== ========== ========
12 NATIONWIDE VL SEPARATE ACCOUNT-C STATEMENTS OF OPERATIONS, CONTINUED SIX MONTH PERIODS ENDED JUNE 30, 2002, 2001 AND 2000 (UNAUDITED)
FIDVIPOV FIDVIPOVS FIDVIPAM -------- --------- -------- 2002 2001 2000 2002 2001 2000 2002 2001 2000 ---- ---- ---- ---- ---- ---- ---- ---- ---- INVESTMENT ACTIVITY: Reinvested dividends $ 18,164 -- -- 25,657 165,805 22,282 349,366 -- -- Mortality and expense risk charges (note 3) (5,189) (3,811) -- (7,677) (8,044) (5,359) (16,201) (13,147) -- ----------- -------- ------- -------- ---------- -------- ---------- ---------- ------- Net investment income 12,975 (3,811) -- 17,980 157,761 16,923 333,165 (13,147) -- ----------- -------- ------- -------- ---------- -------- ---------- ---------- ------- Proceeds from mutual funds shares sold 2,359,754 154,577 -- 360,527 1,333,376 993,195 5,808,053 2,733,066 -- Cost of mutual fund shares sold (2,898,059) (159,508) -- (455,953) (1,893,689) (891,851) (6,615,151) (2,804,741) -- ----------- -------- ------- -------- ---------- -------- ---------- ---------- ------- Realized gain (loss) on investments (538,305) (4,931) -- (95,426) (560,313) 101,344 (807,098) (71,675) -- Change in unrealized gain (loss) on investments 347,140 (154,481) -- (5,632) (392,401) (413,884) (400,916) (6,976) -- ----------- -------- ------- -------- ---------- -------- ---------- ---------- ------- Net gain (loss) on investments (191,165) (159,412) -- (101,058) (952,714) (312,540) (1,208,014) (78,651) -- ----------- -------- ------- -------- ---------- -------- ---------- ---------- ------- Reinvested capital gains -- -- -- -- 264,927 144,214 -- -- -- ----------- -------- ------- -------- ---------- -------- ---------- ---------- ------- Net increase (decrease) in contract owners' equity resulting from operations $ (178,190) (163,223) -- (83,078) (530,026) (151,403) (874,849) (91,798) -- =========== ======== ======= ======== ========== ======== ========== ========== =======
FIDVIPCON FIDVIPCONS FIDVIPGROP --------- ---------- ---------- 2002 2001 2000 2002 2001 2000 2002 2001 2000 ---- ---- ---- ---- ---- ---- ---- ---- ---- INVESTMENT ACTIVITY: Reinvested dividends 8,247 -- -- 43,121 35,716 13,786 9,635 -- -- Mortality and expense risk charges (note 3) (1,706) (1,817) -- (11,994) (11,148) (9,156) (1,086) (1,322) -- --------- -------- ------- -------- ---------- ---------- -------- ---------- ------- Net investment income 6,541 (1,817) -- 31,127 24,568 4,630 8,549 (1,322) -- --------- -------- ------- -------- ---------- ---------- -------- ---------- ------- Proceeds from mutual funds shares sold 354,518 247,398 -- 575,359 1,039,867 1,785,925 348,855 2,024,640 -- Cost of mutual fund shares sold (363,657) (243,250) -- (716,211) (1,389,456) (1,698,711) (376,857) (2,109,136) -- --------- -------- ------- -------- ---------- ---------- -------- ---------- ------- Realized gain (loss) on investments (9,139) 4,148 -- (140,852) (349,589) 87,214 (28,002) (84,496) -- Change in unrealized gain (loss) on investments (8,576) (9,036) -- 54,686 (407,927) (697,874) (87,962) (14,279) -- --------- -------- ------- -------- ---------- ---------- -------- ---------- ------- Net gain (loss) on investments (17,715) (4,888) -- (86,166) (757,516) (610,660) (115,964) (98,775) -- --------- -------- ------- -------- ---------- ---------- -------- ---------- ------- Reinvested capital gains -- -- -- -- 142,864 500,421 -- -- -- --------- -------- ------- -------- ---------- ---------- -------- ---------- ------- Net increase (decrease) in contract owners' equity resulting from operations $ (11,174) (6,705) -- (55,039) (590,084) (105,609) (107,415) (100,097) -- ========= ======== ======= ======== ========== ========== ======== ========== =======
(Continued) 13 NATIONWIDE VL SEPARATE ACCOUNT-C STATEMENTS OF OPERATIONS, CONTINUED SIX MONTH PERIODS ENDED JUNE 30, 2002, 2001 AND 2000 (UNAUDITED)
FIDVIPGROPS GVITEMMRKTS GVITGVTBD ----------- ----------- --------- 2002 2001 2000 2002 2001 2000 2002 2001 2000 ---- ---- ---- ---- ---- ---- ---- ---- ---- INVESTMENT ACTIVITY: Reinvested dividends $ 9,283 7,463 31,207 -- -- -- 1,284,287 766,810 479,057 Mortality and expense risk charges (note 3) (2,232) (5,629) (4,746) -- -- -- (95,461) (41,616) (20,760) ----------- ---------- ---------- ------ ------- ------- ----------- ---------- ---------- Net investment income 7,051 1,834 26,461 -- -- -- 1,188,826 725,194 458,297 ----------- ---------- ---------- ------ ------- ------- ----------- ---------- ---------- Proceeds from mutual funds shares sold 987,284 1,443,353 1,461,974 4,331 -- -- 14,645,443 3,286,944 5,491,499 Cost of mutual fund shares sold (1,133,185) (1,888,085) (1,600,148) (4,263) -- -- (14,536,126) (3,031,483) (5,636,134) ----------- ---------- ---------- ------ ------- ------- ----------- ---------- ---------- Realized gain (loss) on investments (145,901) (444,732) (138,174) 68 -- -- 109,317 255,461 (144,635) Change in unrealized gain (loss) on investments (14,445) 147,736 (156,127) -- -- -- 753,613 (598,031) 315,272 ----------- ---------- ---------- ------ ------- ------- ----------- ---------- ---------- Net gain (loss) on investments (160,346) (296,996) (294,301) 68 -- -- 862,930 (342,570) 170,637 ----------- ---------- ---------- ------ ------- ------- ----------- ---------- ---------- Reinvested capital gains -- -- 164,127 -- -- -- 58,881 -- -- ----------- ---------- ---------- ------ ------- ------- ----------- ---------- ---------- Net increase (decrease) in contract owners' equity resulting from operations $ (153,295) (295,162) (103,713) 68 -- -- 2,110,637 382,624 628,934 =========== ========== ========== ====== ======= ======= =========== ========== ==========
GVITGROWTH GVITMYMKT GVITSMCAPGR ---------- --------- ----------- 2002 2001 2000 2002 2001 2000 2002 2001 2000 ---- ---- ---- ---- ---- ---- ---- ---- ---- INVESTMENT ACTIVITY: Reinvested dividends $ -- -- 4,216 643,446 1,928,931 610,793 -- -- -- Mortality and expense risk charges (note 3) (3,745) (4,648) (4,765) (173,488) (167,820) (40,803) (1,432) (2,368) (1,591) ----------- ---------- ---------- ----------- ----------- ----------- -------- ---------- -------- Net investment income (3,745) (4,648) (549) 469,958 1,761,111 569,990 (1,432) (2,368) (1,591) ----------- ---------- ---------- ----------- ----------- ----------- -------- ---------- -------- Proceeds from mutual funds shares sold 642,364 836,894 1,378,843 22,487,929 37,363,431 10,374,951 124,830 1,147,452 640,372 Cost of mutual fund shares sold (1,145,919) (1,708,615) (1,552,930) (22,487,929) (37,363,431) (10,374,951) (125,094) (1,310,163) (578,703) ----------- ---------- ---------- ----------- ----------- ----------- -------- ---------- -------- Realized gain (loss) on investments (503,555) (871,721) (174,087) -- -- -- (264) (162,711) 61,669 Change in unrealized gain (loss) on investments 121,769 334,530 203,778 -- -- -- (135,708) 127,801 28,959 ----------- ---------- ---------- ----------- ----------- ----------- -------- ---------- -------- Net gain (loss) on investments (381,786) (537,191) 29,691 -- -- -- (135,972) (34,910) 90,628 ----------- ---------- ---------- ----------- ----------- ----------- -------- ---------- -------- Reinvested capital gains -- -- -- -- -- -- -- -- -- ----------- ---------- ---------- ----------- ----------- ----------- -------- ---------- -------- Net increase (decrease) in contract owners' equity resulting from operations $ (385,531) (541,839) 29,142 469,958 1,761,111 569,990 (137,404) (37,278) 89,037 =========== ========== ========== =========== =========== =========== ======== ========== ========
14 NATIONWIDE VL SEPARATE ACCOUNT-C STATEMENTS OF OPERATIONS, CONTINUED SIX MONTH PERIODS ENDED JUNE 30, 2002, 2001 AND 2000 (UNAUDITED)
GVITSMCAPVAL GVITSMCOMP GVITTOTRT ------------ ---------- --------- 2002 2001 2000 2002 2001 2000 2002 2001 2000 ---- ---- ---- ---- ---- ---- ---- ---- ---- INVESTMENT ACTIVITY: Reinvested dividends $ -- -- -- -- 11,384 1,182 6,234 789 853 Mortality and expense risk charges (note 3) (13,051) (12,129) (1,608) (17,292) (19,515) (9,560) (3,878) (311) (516) ----------- ---------- -------- -------- ---------- ---------- -------- -------- -------- Net investment income (13,051) (12,129) (1,608) (17,292) (8,131) (8,378) 2,356 478 337 ----------- ---------- -------- -------- ---------- ---------- -------- -------- -------- Proceeds from mutual funds shares sold 1,113,783 2,202,113 431,815 869,868 1,635,936 2,018,487 50,508 83,566 551,683 Cost of mutual fund shares sold (1,219,671) (2,203,916) (417,829) (916,888) (1,934,900) (1,392,271) (54,449) (141,714) (546,397) ----------- ---------- -------- -------- ---------- ---------- -------- -------- -------- Realized gain (loss) on investments (105,888) (1,803) 13,986 (47,020) (298,964) 626,216 (3,941) (58,148) 5,286 Change in unrealized gain (loss) on investments (1,136,756) 1,048,451 66,935 (375,943) 349,030 (314,178) (124,510) 46,856 6,209 ----------- ---------- -------- -------- ---------- ---------- -------- -------- -------- Net gain (loss) on investments (1,242,644) 1,046,648 80,921 (422,963) 50,066 312,038 (128,451) (11,292) 11,495 ----------- ---------- -------- -------- ---------- ---------- -------- -------- -------- Reinvested capital gains 173,596 -- -- -- -- -- -- -- -- ----------- ---------- -------- -------- ---------- ---------- -------- -------- -------- Net increase (decrease) in contract owners' equity resulting from operations $(1,082,099) 1,034,519 79,313 (440,255) 41,935 303,660 (126,095) (10,814) 11,832 =========== ========== ======== ======== ========== ========== ======== ======== ========
GVITWLEAD JPMORBAL JANCAPAP --------- -------- -------- 2002 2001 2000 2002 2001 2000 2002 2001 2000 ---- ---- ---- ---- ---- ---- ---- ---- ---- INVESTMENT ACTIVITY: Reinvested dividends $ 12,048 9,749 6,900 19,026 25,110 13,845 5,276 2,065 -- Mortality and expense risk charges (note 3) (2,173) (1,868) (1,796) (4,142) (3,761) (1,745) (4,853) (275) -- -------- -------- -------- ---------- -------- -------- -------- ------- ---- Net investment income 9,875 7,881 5,104 14,884 21,349 12,100 423 1,790 -- -------- -------- -------- ---------- -------- -------- -------- ------- ---- Proceeds from mutual funds shares sold 46,997 107,599 665,054 1,401,021 691,841 288,374 575,431 73,567 -- Cost of mutual fund shares sold (73,734) (141,332) (617,449) (1,501,573) (743,242) (311,933) (602,532) (78,644) -- -------- -------- -------- ---------- -------- -------- -------- ------- ---- Realized gain (loss) on investments (26,737) (33,733) 47,605 (100,552) (51,401) (23,559) (27,101) (5,077) -- Change in unrealized gain (loss) on investments (53,313) (123,636) (55,907) (80,309) 22,336 37,587 (179,277) 1,442 -- -------- -------- -------- ---------- -------- -------- -------- ------- ---- Net gain (loss) on investments (80,050) (157,369) (8,302) (180,861) (29,065) 14,028 (206,378) (3,635) -- -------- -------- -------- ---------- -------- -------- -------- ------- ---- Reinvested capital gains -- -- -- -- -- -- -- -- -- -------- -------- -------- ---------- -------- -------- -------- ------- ---- Net increase (decrease) in contract owners' equity resulting from operations $(70,175) (149,488) (3,198) (165,977) (7,716) 26,128 (205,955) (1,845) -- ======== ======== ======== ========== ======== ======== ======== ======= ====
(Continued) 15 NATIONWIDE VL SEPARATE ACCOUNT-C STATEMENTS OF OPERATIONS, CONTINUED SIX MONTH PERIODS ENDED JUNE 30, 2002, 2001 AND 2000 (UNAUDITED)
JANGLTECH JANINTGRO MGVITMULTISEC --------- --------- ------------- 2002 2001 2000 2002 2001 2000 2002 2001 2000 ---- ---- ---- ---- ---- ---- ---- ---- ---- INVESTMENT ACTIVITY: Reinvested dividends $ -- 6,978 -- 4,110 3,969 -- 41,450 45,482 78,228 Mortality and expense risk charges (note 3) (2,081) (2,307) (331) (1,860) (1,033) (43) (2,680) (3,977) (4,318) --------- ---------- ------- -------- -------- ----- -------- ---------- -------- Net investment income (2,081) 4,671 (331) 2,250 2,936 (43) 38,770 41,505 73,910 --------- ---------- ------- -------- -------- ----- -------- ---------- -------- Proceeds from mutual funds shares sold 365,511 1,227,070 24,816 315,027 106,356 431 171,425 2,116,745 718,618 Cost of mutual fund shares sold (444,122) (1,732,518) (30,948) (395,555) (154,873) (438) (172,611) (2,085,671) (715,730) --------- ---------- ------- -------- -------- ----- -------- ---------- -------- Realized gain (loss) on investments (78,611) (505,448) (6,132) (80,528) (48,517) (7) (1,186) 31,074 2,888 Change in unrealized gain (loss) on investments (268,815) 145,022 (25,276) (80,985) (59,539) 9,370 (11,730) (18,374) (13,051) --------- ---------- ------- -------- -------- ----- -------- ---------- -------- Net gain (loss) on investments (347,426) (360,426) (31,408) (161,513) (108,056) 9,363 (12,916) 12,700 (10,163) --------- ---------- ------- -------- -------- ----- -------- ---------- -------- Reinvested capital gains -- -- -- -- -- -- -- -- -- --------- ---------- ------- -------- -------- ----- -------- ---------- -------- Net increase (decrease) in contract owners' equity resulting from operations $(349,507) (355,755) (31,739) (159,263) (105,120) 9,320 25,854 54,205 63,747 ========= ========== ======= ======== ======== ===== ======== ========== ========
NWGVITSTRVAL NBAMTGRO NBAMTGUARD ------------ -------- ---------- 2002 2001 2000 2002 2001 2000 2002 2001 2000 ---- ---- ---- ---- ---- ---- ---- ---- ---- INVESTMENT ACTIVITY: Reinvested dividends $ -- 2,236 511 -- -- -- 13,275 5,896 4,952 Mortality and expense risk charges (note 3) (1,456) (1,159) (338) (1,342) (4,342) -- (3,009) (2,617) (1,253) --------- -------- -------- -------- ---------- ---- -------- ---------- -------- Net investment income (1,456) 1,077 173 (1,342) (4,342) -- 10,266 3,279 3,699 --------- -------- -------- -------- ---------- ---- -------- ---------- -------- Proceeds from mutual funds shares sold 377,477 606,730 979,633 520,278 1,025,957 -- 384,924 1,266,653 325,652 Cost of mutual fund shares sold (412,848) (632,507) (997,731) (666,759) (2,285,784) -- (401,061) (1,287,673) (306,647) --------- -------- -------- -------- ---------- ---- -------- ---------- -------- Realized gain (loss) on investments (35,371) (25,777) (18,098) (146,481) (1,259,827) -- (16,137) (21,020) 19,005 Change in unrealized gain (loss) on investments (54,208) (13,588) (10,745) (18,489) (843,878) -- (259,376) 20,741 3,878 --------- -------- -------- -------- ---------- ---- -------- ---------- -------- Net gain (loss) on investments (89,579) (39,365) (28,843) (164,970) (2,103,705) -- (275,513) (279) 22,883 --------- -------- -------- -------- ---------- ---- -------- ---------- -------- Reinvested capital gains -- -- -- -- 1,683,860 -- -- 84,223 -- --------- -------- -------- -------- ---------- ---- -------- ---------- -------- Net increase (decrease) in contract owners' equity resulting from operations $ (91,035) (38,288) (28,670) (166,312) (424,187) -- (265,247) 87,223 26,582 ========= ======== ======== ======== ========== ==== ======== ========== ========
16 NATIONWIDE VL SEPARATE ACCOUNT-C STATEMENTS OF OPERATIONS, CONTINUED SIX MONTH PERIODS ENDED JUNE 30, 2002, 2001 AND 2000 (UNAUDITED)
NBAMTLMAT NBAMTMCGR NBAMTPART --------- --------- --------- 2002 2001 2000 2002 2001 2000 2002 2001 2000 ---- ---- ---- ---- ---- ---- ---- ---- ---- INVESTMENT ACTIVITY: Reinvested dividends $ 308,420 245,355 -- -- -- -- 31,660 28,260 6,994 Mortality and expense risk charges (note 3) (11,336) (6,622) -- (2,146) (2,889) (2,434) (10,626) (11,197) (2,153) ----------- -------- ---- ------- ---------- -------- -------- ---------- -------- Net investment income 297,084 238,733 -- (2,146) (2,889) (2,434) 21,034 17,063 4,841 ----------- -------- ---- ------- ---------- -------- -------- ---------- -------- Proceeds from mutual funds shares sold 5,291,996 187,383 -- 364,197 729,961 501,362 448,727 1,328,436 578,158 Cost of mutual fund shares sold (5,365,450) (196,071) -- (441,360) (1,055,836) (298,044) (476,306) (1,473,189) (640,843) ----------- -------- ---- ------- ---------- -------- -------- ---------- -------- Realized gain (loss) on investments (73,454) (8,688) -- (77,163) (325,875) 203,318 (27,579) (144,753) (62,685) Change in unrealized gain (loss) on investments (89,501) (138,767) -- (128,312) 47,593 (30,929) (745,546) (279,308) (83,881) ----------- -------- ---- ------- ---------- -------- -------- ---------- -------- Net gain (loss) on investments (162,955) (147,455) -- (205,475) (278,282) 172,389 (773,125) (424,061) (146,566) ----------- -------- ---- ------- ---------- -------- -------- ---------- -------- Reinvested capital gains -- -- -- -- -- 442 -- 268,466 148,730 ----------- -------- ---- ------- ---------- -------- -------- ---------- -------- Net increase (decrease) in contract owners' equity resulting from operations $ 134,129 91,278 -- (207,621) (281,171) 170,397 (752,091) (138,532) 7,005 =========== ======== ==== ======= ========== ======== ======== ========== ========
OPPAGGGRO OPPBDFD OPPCAPAP --------- ------- -------- 2002 2001 2000 2002 2001 2000 2002 2001 2000 ---- ---- ---- ---- ---- ---- ---- ---- ---- INVESTMENT ACTIVITY: Reinvested dividends $ 45,031 88,470 -- 100,767 22,657 -- 60,196 53,051 4,074 Mortality and expense risk charges (note 3) (10,225) (16,335) (8,493) (2,424) (758) -- (16,905) (13,203) (5,584) ----------- ---------- ---------- ---------- -------- ---- ---------- ---------- --------- Net investment income 34,806 72,135 (8,493) 98,343 21,899 -- 43,291 39,848 (1,510) ----------- ---------- ---------- ---------- -------- ---- ---------- ---------- --------- Proceeds from mutual funds shares sold 1,555,668 2,077,830 2,470,167 1,028,091 133,973 -- 999,232 806,324 1,109,805 Cost of mutual fund shares sold (2,777,916) (3,815,190) (1,619,692) (1,020,564) (143,889) -- (1,499,703) (789,335) (890,549) ----------- ---------- ---------- ---------- -------- ---- ---------- ---------- --------- Realized gain (loss) on investments (1,222,248) (1,737,360) 850,475 7,527 (9,916) -- (500,471) 16,989 219,256 Change in unrealized gain (loss) on investments (190,577) (3,180,445) (113,083) (70,736) (2,663) -- (1,990,603) (1,219,257) (171,481) ----------- ---------- ---------- ---------- -------- ---- ---------- ---------- --------- Net gain (loss) on investments (1,412,825) (4,917,805) 737,392 (63,209) (12,579) -- (2,491,074) (1,202,268) 47,775 ----------- ---------- ---------- ---------- -------- ---- ---------- ---------- --------- Reinvested capital gains -- 1,380,419 176,333 -- -- -- -- 796,090 217,412 ----------- ---------- ---------- ---------- -------- ---- ---------- ---------- --------- Net increase (decrease) in contract owners' equity resulting from operations $(1,378,019) (3,465,251) 905,232 35,134 9,320 -- (2,447,783) (366,330) 263,677 =========== ========== ========== ========== ======== ==== ========== ========== =========
(Continued) 17 NATIONWIDE VL SEPARATE ACCOUNT-C STATEMENTS OF OPERATIONS, CONTINUED SIX MONTH PERIODS ENDED JUNE 30, 2002, 2001 AND 2000 (UNAUDITED)
OPPGLSEC OPPMSGRINC OPPMULTSTR -------- ---------- ---------- 2002 2001 2000 2002 2001 2000 2002 2001 2000 ---- ---- ---- ---- ---- ---- ---- ---- ---- INVESTMENT ACTIVITY: Reinvested dividends $ 8,020 29,567 -- 3,014 2,748 1,596 23,786 31,645 -- Mortality and expense risk charges (note 3) (2,891) (3,271) -- (950) (1,056) (885) (1,272) (1,632) -- ----------- ---------- ---- -------- -------- -------- -------- -------- ---- Net investment income 5,129 26,296 -- 2,064 1,692 711 22,514 30,013 -- ----------- ---------- ---- -------- -------- -------- -------- -------- ---- Proceeds from mutual funds shares sold 1,232,019 2,574,877 -- 113,244 376,496 894,334 366,759 248,906 -- Cost of mutual fund shares sold (1,391,074) (3,247,372) -- (110,466) (435,596) (886,462) (369,722) (262,987) -- ----------- ---------- ---- -------- -------- -------- -------- -------- ---- Realized gain (loss) on investments (159,055) (672,495) -- 2,778 (59,100) 7,872 (2,963) (14,081) -- Change in unrealized gain (loss) on investments 37,075 (157,428) -- (44,959) 32,345 (30,566) (84,488) (13,447) -- ----------- ---------- ---- -------- -------- -------- -------- -------- ---- Net gain (loss) on investments (121,980) (829,923) -- (42,181) (26,755) (22,694) (87,451) (27,528) -- ----------- ---------- ---- -------- -------- -------- -------- -------- ---- Reinvested capital gains -- 548,160 -- -- -- 21,075 9,872 42,267 -- ----------- ---------- ---- -------- -------- -------- -------- -------- ---- Net increase (decrease) in contract owners' equity resulting from operations $ (116,851) (255,467) -- (40,117) (25,063) (908) (55,065) 44,752 -- =========== ========== ==== ======== ======== ======== ======== ======== ====
SGVITMDCPGR STOPP2 STDISC2 ----------- ------ ------- 2002 2001 2000 2002 2001 2000 2002 2001 2000 ---- ---- ---- ---- ---- ---- ---- ---- ---- INVESTMENT ACTIVITY: Reinvested dividends $ -- -- -- -- 1,085 -- -- -- -- Mortality and expense risk charges (note 3) (1,553) (2,660) (2,281) (12,804) (9,571) -- (108) -- -- --------- -------- -------- ---------- ---------- ---- -------- ---- ---- Net investment income (1,553) (2,660) (2,281) (12,804) (8,486) -- (108) -- -- --------- -------- -------- ---------- ---------- ---- -------- ---- ---- Proceeds from mutual funds shares sold 445,813 636,397 675,957 715,866 1,313,551 -- 184,614 -- -- Cost of mutual fund shares sold (616,860) (962,730) (577,983) (901,553) (1,282,417) -- (178,290) -- -- --------- -------- -------- ---------- ---------- ---- -------- ---- ---- Realized gain (loss) on investments (171,047) (326,333) 97,974 (185,687) 31,134 -- 6,324 -- -- Change in unrealized gain (loss) on investments (30,276) 140,248 (104,528) (1,169,624) (75,746) -- (4,206) -- -- --------- -------- -------- ---------- ---------- ---- -------- ---- ---- Net gain (loss) on investments (201,323) (186,085) (6,554) (1,355,311) (44,612) -- 2,118 -- -- --------- -------- -------- ---------- ---------- ---- -------- ---- ---- Reinvested capital gains -- -- -- -- -- -- -- -- -- --------- -------- -------- ---------- ---------- ---- -------- ---- ---- Net increase (decrease) in contract owners' equity resulting from operations $(202,876) (188,745) (8,835) (1,368,115) (53,098) -- 2,010 -- -- ========= ======== ======== ========== ========== ==== ======== ==== ====
18 NATIONWIDE VL SEPARATE ACCOUNT-C STATEMENTS OF OPERATIONS, CONTINUED SIX MONTH PERIODS ENDED JUNE 30, 2002, 2001 AND 2000 (UNAUDITED)
STINTSTK2 DRYSRGRO VEWRLDEMKT --------- -------- ---------- 2002 2001 2000 2002 2001 2000 2002 2001 2000 ---- ---- ---- ---- ---- ---- ---- ---- ---- INVESTMENT ACTIVITY: Reinvested dividends $ 5,600 -- -- 31 35 65 715 -- -- Mortality and expense risk charges (note 3) (442) (62) -- (821) (556) (700) (793) (1,259) (1,117) --------- -------- ---- -------- -------- -------- -------- ---------- -------- Net investment income 5,158 (62) -- (790) (521) (635) (78) (1,259) (1,117) --------- -------- ---- -------- -------- -------- -------- ---------- -------- Proceeds from mutual funds shares sold 164,750 156,906 -- 155,820 485,561 595,231 81,014 941,138 240,058 Cost of mutual fund shares sold (161,160) (168,816) -- (184,443) (549,509) (577,853) (74,765) (1,246,937) (163,081) --------- -------- ---- -------- -------- -------- -------- ---------- -------- Realized gain (loss) on investments 3,590 (11,910) -- (28,623) (63,948) 17,378 6,249 (305,799) 76,977 Change in unrealized gain (loss) on investments (29,341) (1,083) -- (44,305) 26,584 670 21,157 301,375 (140,409) --------- -------- ---- -------- -------- -------- -------- ---------- -------- Net gain (loss) on investments (25,751) (12,993) -- (72,928) (37,364) 18,048 27,406 (4,424) (63,432) --------- -------- ---- -------- -------- -------- -------- ---------- -------- Reinvested capital gains -- 396 -- -- -- -- -- -- -- --------- -------- ---- -------- -------- -------- -------- ---------- -------- Net increase (decrease) in contract owners' equity resulting from operations $ (20,593) (12,659) -- (73,718) (37,885) 17,413 27,328 (5,683) (64,549) ========= ======== ==== ======== ======== ======== ======== ========== ========
VEWRLDHAS VKEMMKT VKMIDCAPG --------- ------- --------- 2002 2001 2000 2002 2001 2000 2002 2001 2000 ---- ---- ---- ---- ---- ---- ---- ---- ---- INVESTMENT ACTIVITY: Reinvested dividends $ 1,265 6,474 3,614 -- -- -- -- -- -- Mortality and expense risk charges (note 3) (238) (1,168) (786) (264) (1,113) (476) (842) (6) -- --------- -------- -------- ------- -------- ------- -------- ------ ---- Net investment income 1,027 5,306 2,828 (264) (1,113) (476) (842) (6) -- --------- -------- -------- ------- -------- ------- -------- ------ ---- Proceeds from mutual funds shares sold 104,449 256,958 163,672 15,098 343,517 87,491 390,498 2,711 -- Cost of mutual fund shares sold (109,878) (223,577) (151,128) (14,769) (333,805) (90,248) (401,136) (2,980) -- --------- -------- -------- ------- -------- ------- -------- ------ ---- Realized gain (loss) on investments (5,429) 33,381 12,544 329 9,712 (2,757) (10,638) (269) -- Change in unrealized gain (loss) on investments 14,151 (52,566) 11,597 (12,612) 18,371 31,192 (77,960) 1,021 -- --------- -------- -------- ------- -------- ------- -------- ------ ---- Net gain (loss) on investments 8,722 (19,185) 24,141 (12,283) 28,083 28,435 (88,598) 752 -- --------- -------- -------- ------- -------- ------- -------- ------ ---- Reinvested capital gains -- -- -- -- -- -- -- -- -- --------- -------- -------- ------- -------- ------- -------- ------ ---- Net increase (decrease) in contract owners' equity resulting from operations $ 9,749 (13,879) 26,969 (12,547) 26,970 27,959 (89,440) 746 -- ========= ======== ======== ======= ======== ======= ======== ====== ====
(Continued) 19 NATIONWIDE VL SEPARATE ACCOUNT-C STATEMENTS OF OPERATIONS, CONTINUED SIX MONTH PERIODS ENDED JUNE 30, 2002, 2001 AND 2000 (UNAUDITED)
VKUSRealEst ----------- 2002 2001 2000 ---- ---- ---- INVESTMENT ACTIVITY: Reinvested dividends $ -- -- 22,511 Mortality and expense risk charges (note 3) (3,649) (2,179) (822) --------- ------ ------ Net investment income (3,649) (2,179) 21,689 --------- ------ ------ Proceeds from mutual funds shares sold 405,049 328,910 633,505 Cost of mutual fund shares sold (383,439) (330,878) (623,288) --------- ------- ------- Realized gain (loss) on investments 21,610 (1,968) 10,217 Change in unrealized gain (loss) on investments 159,543 122,673 15,670 --------- ------- ------ Net gain (loss) on investments 181,153 120,705 25,887 --------- ------- ------ Reinvested capital gains -- -- -- --------- ------ ------ Net increase (decrease) in contract owners' equity resulting from operations $ 177,504 118,526 47,576 ========= ======= ======
See accompanying notes to financial statements. 20 NATIONWIDE VL SEPARATE ACCOUNT-C STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY SIX MONTH PERIODS ENDED JUNE 30, 2002, 2001 AND 2000 (UNAUDITED)
TOTAL ACVPBal ACVPCapAp ----------------------------------------- -------------------------- --------------------------- 2002 2001 2000 2002 2001 2000 2002 2001 2000 ---- ---- ---- ---- ---- ---- ---- ---- ---- INVESTMENT ACTIVITY: Net investment income .... $ 3,520,752 4,015,956 1,474,281 15,674 13,361 -- (1,349) (1,403) -- Realized gain (loss) on investments .......... (16,523,581) (15,194,080) 4,288,849 (5,238) (11,846) -- (45,347) (261,507) -- Change in unrealized gain (loss) on investments ............. (15,128,886) (11,520,480) (6,001,647) (52,290) (11,397) -- (40,133) (149,985) -- Reinvested capital gains . 812,410 8,499,040 2,666,845 -- 16,886 -- -- 357,574 -- ------------ ----------- ----------- ------- -------- --- ------- --------- --- Net increase (decrease) in contract owners' equity resulting from operations ........ (27,319,305) (14,199,564) 2,428,328 (41,854) 7,004 -- (86,829) (55,321) -- ------------ ----------- ----------- ------- -------- --- ------- --------- --- EQUITY TRANSACTIONS: Purchase payments received from contract owners ......... 46,945,496 71,919,580 52,864,932 162,076 201,050 -- 80,337 468,893 -- Transfer from Nationwide Variable Life Separate Account-A (note 1) ................ -- 116,421,610 -- -- 343,713 -- -- 494,188 -- Transfers between funds .. -- -- -- (116,868) (114,118) -- 26,668 218,058 -- Surrenders ............... (38,580,433) (5,209,323) -- -- -- -- -- -- -- Death benefits ........... (437,664) (198,395) -- (2,540) -- -- -- -- -- Policy loans (net of repayments) (note 4) .... -- 1,109,900 -- -- -- -- -- -- -- Deductions for surrender charges ................. -- -- -- -- -- -- -- -- -- Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) ....... (4,912,726) (4,162,117) (1,891,295) (8,393) (5,691) -- (10,019) (8,906) -- ------------ ----------- ----------- ------- -------- --- ------- --------- --- Net equity transactions 3,014,673 179,881,255 50,973,637 34,275 424,954 -- 96,986 1,172,233 -- ------------ ----------- ----------- ------- -------- --- ------- --------- --- NET CHANGE IN CONTRACT OWNERS' EQUITY ........... (24,304,632) 165,681,691 53,401,965 (7,579) 431,958 -- 10,157 1,116,912 -- CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ...... 408,763,705 237,376,916 122,181,811 592,107 -- -- 788,824 -- -- ------------ ----------- ----------- ------- -------- --- ------- --------- --- CONTRACT OWNERS' EQUITY END OF PERIOD ..... $384,459,073 403,058,607 175,583,776 584,528 431,958 -- 798,981 1,116,912 -- ============ =========== =========== ======== ======== === ======= ========= === CHANGES IN UNITS: Beginning units .......... 38,088,234 20,181,570 9,922,749 60,611 -- -- 71,775 -- -- ------------ ----------- ----------- ------- -------- --- ------- --------- --- Units purchased .......... 18,493,837 19,819,328 5,827,133 69,936 43,274 -- 65,983 85,085 -- Units redeemed ........... (18,539,450) (3,514,127) (1,917,138) (66,802) -- -- (59,147) -- -- ------------ ----------- ----------- ------- -------- --- ------- --------- --- Ending units ............. 38,042,621 36,486,771 13,832,744 63,745 43,274 -- 78,611 85,085 -- ============ =========== =========== ======== ======== === ======= ========= ===
(Continued) 21 NATIONWIDE VL SEPARATE ACCOUNT-C STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY, CONTINUED SIX MONTH PERIODS ENDED JUNE 30, 2002, 2001 AND 2000 (UNAUDITED)
ACVPINCGR ACVPINT ACVPVAL --------- ------- ------- 2002 2001 2000 2002 2001 2000 2002 2001 2000 ---- ---- ---- ---- ---- ---- ---- ---- ---- INVESTMENT ACTIVITY: Net investment income .......... $ 55,358 43,432 22,972 98,888 (11,410) (3,328) 55,969 75,785 (364) Realized gain (loss) on investments ..... (130,908) (650,130) 198,621 (1,499,096) (377,979) 364,676 44,120 133,968 29,181 Change in unrealized gain (loss) on investments ... (924,627) 392,274 (565,992) 407,241 (3,506,169) (757,285) (972,487) 110,024 (22,743) Reinvested capital gains ............ -- -- -- -- 1,241,326 70,841 453,115 -- 1,532 ----------- ---------- ---------- ---------- ---------- --------- --------- --------- ------- Net increase (decrease) in contract owners' equity resulting from operations . (1,000,177) (214,424) (344,399) (992,967) (2,654,232) (325,096) (419,283) 319,777 7,606 ----------- ---------- ---------- ---------- ---------- --------- --------- --------- ------- EQUITY TRANSACTIONS: Purchase payments received from contract owners .. 3,211,218 3,363,493 3,557,239 2,624,825 1,334,425 1,741,572 405,935 294,186 148,591 Transfer from Nationwide Variable Life Separate Account-A (note 1) ........ -- 856,675 -- -- 3,778,678 -- -- 2,205,842 -- Transfers between funds ............ (393,879) (3,569,017) (1,453,508) (671,482) 3,794,959 1,479,670 1,890,551 2,665,197 230,127 Surrenders ........ -- (65,786) -- (1,026,805) (30,241) -- -- -- -- Death benefits .... (11,790) (1,962) -- (11,216) (7,854) -- (3,416) (6,765) -- Policy loans (net of repayments) (note 4) ......... -- -- -- -- -- -- -- -- -- Deductions for surrender charges -- -- -- -- -- -- -- -- -- Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) (72,638) (87,550) (49,682) (201,903) (128,574) (62,679) (112,857) (74,899) (6,558) ----------- ---------- ---------- ---------- ---------- --------- --------- --------- ------- Net equity transactions ... 2,732,911 495,853 2,054,049 713,419 8,741,393 3,158,563 2,180,213 5,083,561 372,160 ----------- ---------- ---------- ---------- ---------- --------- --------- --------- ------- NET CHANGE IN CONTRACT OWNERS' EQUITY .... 1,732,734 281,429 1,709,650 (279,548) 6,087,161 2,833,467 1,760,930 5,403,338 379,766 CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ......... 6,935,798 6,689,757 5,781,146 20,629,904 9,311,473 3,233,319 7,381,419 1,102,641 315,811 ----------- ---------- --------- ---------- ---------- --------- --------- --------- ------- CONTRACT OWNERS' EQUITY END OF PERIOD ............ $ 8,668,532 6,971,186 7,490,796 20,350,356 15,398,634 6,066,786 9,142,349 6,505,979 695,577 =========== ========== ========== ========== ========== ========= ========= ========= ======= CHANGES IN UNITS: Beginning units ... 690,257 609,285 475,870 2,210,557 703,839 202,543 602,664 101,219 34,114 ----------- ---------- ---------- ---------- ---------- --------- --------- --------- ------- Units purchased ... 380,190 281,688 290,122 570,987 761,969 206,181 526,079 465,030 45,558 Units redeemed .... (101,800) (231,030) (129,275) (496,225) (5,041) (3,700) (352,765) (8,080) (1,250) ----------- ---------- ---------- ---------- ---------- --------- --------- --------- ------- Ending units ...... 968,647 659,943 636,717 2,285,319 1,460,767 405,024 775,978 558,169 78,422 =========== ========== ========== ========== ========== ========= ========= ========= =======
22 NATIONWIDE VL SEPARATE ACCOUNT-C STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY, CONTINUED SIX MONTH PERIODS ENDED JUNE 30, 2002, 2001 AND 2000 (UNAUDITED)
ComGVITVal CSGPVen CSIntEq ---------- ------- ------- 2002 2001 2000 2002 2001 2000 2002 2001 2000 ---- ---- ---- ---- ---- ---- ---- ---- ---- INVESTMENT ACTIVITY: Net investment income ........... $ 1,278 33,759 393 (1,110) (1,909) (1,647) (691) (548) (806) Realized gain (loss) on investments ...... (36,428) (13,848) 6,667 (61,662) (496,644) 115,273 4,395 (131,081) 64,118 Change in unrealized gain (loss) on investments ... (12,450) (267,346) (1,906) (21,997) 244,399 (76,795) (7,489) 72,932 (123,101) Reinvested capital gains .... -- -- -- -- -- -- -- -- -- -------- ---------- ------- ------- --------- ------- ------- -------- -------- Net increase (decrease) in contract owners' equity resulting from operations . (47,600) (247,435) 5,154 (84,769) (254,154) 36,831 (3,785) (58,697) (59,789) -------- ---------- ------- ------- --------- ------- ------- -------- -------- EQUITY TRANSACTIONS: Purchase payments received from contract owners .. 11,003 -- 66,654 19,222 189,681 279,421 7,087 100,541 97,287 Transfer from Nationwide Variable Life Separate Account-A (note 1) ......... -- -- -- -- 213,808 -- -- 164,306 -- Transfers between funds .... (56,194) 13,567,882 163,007 93,520 (439,978) 15,094 (4,742) (79,745) (104,011) Surrenders ........ -- -- -- -- -- -- -- (67,369) -- Death benefits .... (1,019) (866) -- (1,005) (98) -- (825) (826) -- Policy loans (net of repayments) (note 4) ......... -- -- -- -- -- -- -- (87,288) -- Deductions for surrender charges -- -- -- -- -- -- -- -- -- Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) (4,909) (5,646) (2,523) (6,896) (12,225) (12,233) (5,138) (8,647) (2,633) -------- ---------- ------- ------- --------- ------- ------- -------- -------- Net equity transactions ... (51,119) 13,561,370 227,138 104,841 (48,812) 282,282 (3,618) 20,972 (9,357) -------- ---------- ------- ------- --------- ------- ------- -------- -------- NET CHANGE IN CONTRACT OWNERS' EQUITY ............ (98,719) 13,313,935 232,292 20,072 (302,966) 319,113 (7,403) (37,725) (69,146) CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ......... 334,947 252,226 53,898 511,568 1,091,514 649,809 181,445 301,208 433,536 -------- ---------- ------- ------- --------- ------- ------- -------- -------- CONTRACT OWNERS' EQUITY END OF PERIOD ......... $236,228 13,566,161 286,190 531,640 788,548 968,922 174,042 263,483 364,390 ======== ========== ======= ======= ========= ======= ======= ======== ======== CHANGES IN UNITS: Beginning units ... 34,435 22,688 4,316 60,385 91,578 44,018 23,360 30,020 31,892 -------- ---------- ------- ------- --------- ------- ------- -------- -------- Units purchased ... 884 1,319,542 18,451 43,817 2,980 18,322 84,127 7,277 7,388 Units redeemed .... (6,972) (2,227) (199) (31,139) (78,813) (39,420) (84,716) (5,996) (9,848) -------- ---------- ------- ------- --------- ------- ------- -------- -------- Ending units ...... 28,347 1,340,003 22,568 73,063 15,745 22,920 22,771 31,301 29,432 ======== ========== ======= ======= ========= ======= ======= ======== ========
(Continued) 23 NATIONWIDE VL SEPARATE ACCOUNT-C STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY, CONTINUED SIX MONTH PERIODS ENDED JUNE 30, 2002, 2001 AND 2000 (UNAUDITED)
CSLCapV CSSmCapGr DryMidCapIx ------- --------- ----------- 2002 2001 2000 2002 2001 2000 2002 2001 2000 ---- ---- ---- ---- ---- ---- ---- ---- ---- INVESTMENT ACTIVITY: Net investment income ............ $ (385) (710) (632) (10,422) (6,778) -- (612) 2,338 1,237 Realized gain (loss) on investments ........ (737) 6,378 (67,883) (1,172,989) (2,103) -- 33,607 1,267 8,927 Change in unrealized gain (loss) on investments .... (22,312) (27,065) 32,445 (291,537) (25,391) -- (111,556) 47,388 52,473 Reinvested capital gains ..... -- -- -- -- -- -- 4,521 -- -- -------- ------- -------- ---------- --------- --- --------- --------- --------- Net increase (decrease) in contract owners' equity resulting from operations .. (23,434) (21,397) (36,070) (1,474,948) (34,272) -- (74,040) 50,993 62,637 -------- ------- -------- ---------- --------- --- --------- --------- --------- EQUITY TRANSACTIONS: Purchase payments received from contract owners ... 30,208 24,995 179,755 200,124 292,480 -- 65,618 527,896 300,741 Transfer from Nationwide Variable Life Separate Account-A (note 1) ......... -- -- -- -- 3,919,803 -- -- 539,155 -- Transfers between funds ............. 152,724 (79,020) (285,090) 538,087 1,338,292 -- 77,903 (213,229) 91,564 Surrenders ......... -- (14,457) -- (3,264,517) -- -- -- -- -- Death benefits ..... (172) -- -- -- -- -- -- -- -- Policy loans (net of repayments) (note 4) .......... -- -- -- -- -- -- -- -- -- Deductions for surrender charges . -- -- -- -- -- -- -- -- -- Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) . (1,964) (5,378) (8,151) (68,227) (47,813) -- (15,583) (19,494) (5,366) -------- ------- -------- ---------- --------- --- --------- --------- --------- Net equity transactions .... 180,796 (73,860) (113,486) (2,594,533) 5,502,762 -- 127,938 834,328 386,939 -------- ------- -------- ---------- --------- --- --------- --------- --------- NET CHANGE IN CONTRACT OWNERS' EQUITY ............. 157,362 (95,257) (149,556) (4,069,481) 5,468,490 -- 53,898 885,321 449,576 CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD .......... 104,706 280,512 384,325 5,613,872 -- -- 1,253,498 1,172,206 588,358 -------- ------- -------- ---------- --------- --- --------- --------- --------- CONTRACT OWNERS' EQUITY END OF PERIOD ............. $262,068 185,255 234,769 1,544,391 5,468,490 -- 1,307,396 2,057,527 1,037,934 ======== ======= ======== ========== ========= === ========= ========= ========= CHANGES IN UNITS: Beginning units .... 9,126 24,581 36,533 623,977 -- -- 93,948 86,361 49,740 -------- ------- -------- ---------- --------- --- --------- --------- --------- Units purchased .... 16,403 66,193 26,894 463,196 595,992 -- 38,781 94,144 32,293 Units redeemed ..... (190) (8,318) (784) (867,684) (6,655) -- (30,966) (29,607) (787) -------- ------- -------- ---------- --------- --- --------- --------- --------- Ending units ....... 25,339 82,456 62,643 219,489 589,337 -- 101,763 150,898 81,246 ======== ======= ======== ========== ========= === ========= ========= =========
24 NATIONWIDE VL SEPARATE ACCOUNT-C STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY, CONTINUED SIX MONTH PERIODS ENDED JUNE 30, 2002, 2001 AND 2000 (UNAUDITED)
DryEuroEq DryStkIx DryVIFApp --------- -------- --------- 2002 2001 2000 2002 2001 2000 2002 2001 2000 ---- ---- ---- ---- ---- ---- ---- ---- ---- INVESTMENT ACTIVITY: Net investment income ......... $ (143) (213) (158) 184,129 172,237 107,224 (26,165) (18,931) (3,815) Realized gain (loss) on investments .... (907) (73,980) 29,390 (5,177,932) (2,304,727) 1,506,770 (1,606,619) (29,258) 29,849 Change in unrealized gain (loss) on investments . (3,315) (15) (7,222) (1,934,024) (840,067) (1,862,189) 186,545 (501,710) 67,617 Reinvested capital gains .. -- -- 134 -- 9,824 38,195 -- -- -- ------- ------- -------- ---------- ----------- ---------- ---------- ---------- --------- Net increase (decrease) in contract owners' equity resulting from operations (4,365) (74,208) 22,144 (6,927,827) (2,962,733) (210,000) (1,446,239) (549,899) 93,651 ------- ------- -------- ---------- ----------- ---------- ---------- ---------- --------- EQUITY TRANSACTIONS: Purchase payments received from contract owners 207 162,000 63,923 6,891,875 8,926,721 12,136,138 403,849 715,104 859,619 Transfer from Nationwide Variable Life Separate Account-A (note 1) ....... -- -- -- -- 15,017,570 -- -- 10,751,709 -- Transfers between funds .......... 94,982 (87,837) (351,073) (2,177,864) (17,110,298) (4,221,481) 2,422,393 319,574 63,348 Surrenders ...... -- -- -- (6,553,337) (320,976) -- (8,235,722) (40,685) -- Death benefits .. -- -- -- (57,675) (35,218) -- (2,880) (955) -- Policy loans (net of repayments) (note 4) ....... -- -- -- -- (300,482) -- -- -- -- Deductions for surrender charges ........ -- -- -- -- -- -- -- -- -- Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) ........ (651) (787) (1,331) (592,339) (676,445) (485,641) (171,503) (135,944) (33,049) ------- ------- -------- ---------- ----------- ---------- ---------- ---------- --------- Net equity transactions . 94,538 73,376 (288,481) (2,489,340) 5,500,872 7,429,016 (5,583,863) 11,608,803 889,918 ------- ------- -------- ---------- ----------- ---------- ---------- ---------- --------- NET CHANGE IN CONTRACT OWNERS' EQUITY .......... 90,173 (832) (266,337) (9,417,167) 2,538,139 7,219,016 (7,030,102) 11,058,904 983,569 CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ....... 3,321 832 294,707 48,873,124 47,161,588 31,914,985 14,713,743 3,144,908 1,467,751 ------- ------- -------- ---------- ----------- ---------- ---------- ---------- --------- CONTRACT OWNERS' EQUITY END OF PERIOD ....... $93,494 -- 28,370 39,455,957 49,699,727 39,134,001 7,683,641 14,203,812 2,451,320 ======= ======= ======== ========== =========== ========== ========== ========== ========= CHANGES IN UNITS: Beginning units . 368 66 22,815 4,709,891 3,995,395 2,442,329 1,344,510 259,664 119,919 ------- ------- -------- ---------- ----------- ---------- ---------- ---------- --------- Units purchased . 10,995 13,083 5,362 2,119,647 1,181,415 988,784 834,407 1,023,630 78,114 Units redeemed .. (76) (13,149) (26,029) (2,399,423) (673,290) (410,908) (1,410,454) (29,750) (2,801) ------- ------- -------- ---------- ----------- ---------- ---------- ---------- --------- Ending units .... 11,287 -- 2,148 4,430,115 4,503,520 3,020,205 768,463 1,253,544 195,232 ======= ======= ======== ========== =========== ========== ========== ========== =========
(Continued) 25 NATIONWIDE VL SEPARATE ACCOUNT-C STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY, CONTINUED SIX MONTH PERIODS ENDED JUNE 30, 2002, 2001 AND 2000 (UNAUDITED)
DryVIFGrInc FGVITHiInc FedQualBd ----------- ---------- --------- 2002 2001 2000 2002 2001 2000 2002 2001 2000 ---- ---- ---- ---- ---- ---- ---- ---- ---- INVESTMENT ACTIVITY: Net investment income ............ $ 675 683 -- 55,796 91,427 61,290 42,430 6,099 (81) Realized gain (loss) on investments ....... (10,887) (8,872) -- (69,413) (32,671) (10,417) 10,053 3,435 (652) Change in unrealized gain (loss) on investments .... (102,866) 10,433 -- 55,345 (60,939) (54,383) (27,543) (343) 13,574 Reinvested capital gains ..... -- 9,105 -- -- -- 2 16,725 688 -- ---------- ------- --- ---------- --------- --------- --------- ------- ------- Net increase (decrease) in contract owners' equity resulting from operations .. (113,078) 11,349 -- 41,728 (2,183) (3,508) 41,665 9,879 12,841 ---------- ------- --- ---------- --------- --------- --------- ------- ------- EQUITY TRANSACTIONS: Purchase payments received from contract owners ... 13,701 138,418 -- 348,588 17,018 144,234 14,888 16,666 72,878 Transfer from Nationwide Variable Life Separate Account-A (note 1) -- 875,283 -- -- -- -- -- -- -- Transfers between funds ..... 219,932 166,023 -- (1,427,595) 1,115,771 1,160,037 1,373,390 52,792 362,876 Surrenders ......... (66,079) (139,333) -- -- -- -- (43,659) -- -- Death benefits ..... -- -- -- -- -- -- (3,607) -- -- Policy loans (net of repayments) (note 4) .......... -- (171,256) -- -- -- -- -- -- -- Deductions for surrender charges . -- -- -- -- -- -- -- -- -- Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) . (11,870) (17,461) -- (30,603) (43,702) (25,677) (21,392) (8,215) (1,361) ---------- ------- --- ---------- --------- --------- --------- ------- ------- Net equity transactions ... 155,684 851,674 -- (1,109,610) 1,089,087 1,278,594 1,319,620 61,243 434,393 ---------- ------- --- ---------- --------- --------- --------- ------- ------- NET CHANGE IN CONTRACT OWNERS' EQUITY ............. 42,606 863,023 -- (1,067,882) 1,086,904 1,275,086 1,361,285 71,122 447,234 CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD .......... 642,582 -- -- 1,980,341 1,419,982 172,149 1,021,878 254,086 -- ---------- ------- --- ---------- --------- --------- --------- ------- ------- CONTRACT OWNERS' EQUITY END OF PERIOD ............. $ 685,188 863,023 -- 912,459 2,506,886 1,447,235 2,383,163 325,208 447,234 ========== ======= === ========== ========= ========= ========= ======= ======= CHANGES IN UNITS: Beginning units .... 67,090 -- -- 202,186 150,482 16,667 87,721 23,465 -- ---------- ------- --- ---------- --------- --------- --------- ------- ------- Units purchased .... 111,558 86,158 -- 34,753 110,928 128,417 169,477 6,236 44,321 Units redeemed ..... (94,225) (1,353) -- (143,321) (1,010) (2,551) (57,558) (682) (177) ---------- ------- --- ---------- --------- --------- --------- ------- ------- Ending units ....... 84,423 84,805 -- 93,618 260,400 142,533 199,640 29,019 44,144 ========== ======= === ========== ========= ========= ========= ======= =======
26 NATIONWIDE VL SEPARATE ACCOUNT-C STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY, CONTINUED SIX MONTH PERIODS ENDED JUNE 30, 2002, 2001 AND 2000 (UNAUDITED)
FidVIPEI FidVIPEIS FidVIPGr -------- --------- -------- 2002 2001 2000 2002 2001 2000 2002 2001 2000 ---- ---- ---- ---- ---- ---- ---- ---- ---- INVESTMENT ACTIVITY: Net investment income ........... $ 3,981 (3,437) -- 53,675 50,174 8,015 5,364 (8,792) -- Realized gain (loss) on investments ...... (3,347) 131,296 -- (64,489) (14,175) (107,074) (94,759) 9,693 -- Change in unrealized gain (loss) on investments ... (42,288) (22,154) -- (409,591) (250,449) (105,224) (1,209,523) 1,807 -- Reinvested capital gains .... 6,307 -- -- 89,393 169,378 42,410 -- -- -- --------- --------- --- --------- --------- --------- ---------- --------- --- Net increase (decrease) in contract owners' equity resulting from operations . (35,347) 105,705 -- (331,012) (45,072) (161,873) (1,298,918) 2,708 -- --------- --------- --- --------- --------- --------- ---------- --------- --- Equity transactions: Purchase payments received from contract owners .. 13,023 (26,384) -- 72,614 366,131 390,145 116,662 126,696 -- Transfer from Nationwide Variable Life Separate Account-A (note 1) -- 2,324,957 -- -- -- -- -- 2,990,597 -- Transfers between funds .... 38,049 226,775 -- 2,271,905 964,685 497,899 (13,352) 3,195,820 -- Surrenders ........ (126,494) (196,492) -- -- -- -- (50,123) -- -- Death benefits .... -- -- -- (2,187) (191) -- -- -- -- Policy loans (net of repayments) (note 4) ......... -- (240,716) -- -- -- -- -- -- -- Deductions for surrender charges -- -- -- -- -- -- -- -- -- Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) (5,172) (17,476) -- (55,711) (39,254) (18,082) (67,084) (67,144) -- --------- --------- --- --------- --------- --------- ---------- --------- --- Net equity transactions .. (80,594) 2,070,664 -- 2,286,621 1,291,371 869,962 (13,897) 6,245,969 -- --------- --------- --- --------- --------- --------- ---------- --------- --- NET CHANGE IN CONTRACT OWNERS' EQUITY ............ (115,941) 2,176,369 -- 1,955,609 1,246,299 708,089 (1,312,815) 6,248,677 -- CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ......... 483,850 -- -- 3,727,351 2,536,200 1,703,236 6,691,639 -- -- --------- --------- --- --------- --------- --------- ---------- --------- --- CONTRACT OWNERS' EQUITY END OF PERIOD ........... $ 367,909 2,176,369 -- 5,682,960 3,782,499 2,411,325 5,378,824 6,248,677 -- ========= ========= === ========= ========= ========= ========== ========= === CHANGES IN UNITS: Beginning units ... 50,510 -- -- 348,625 224,240 162,451 782,177 -- -- --------- --------- --- --------- --------- --------- ---------- --------- --- Units purchased ... 34,727 391,191 -- 225,088 125,419 76,296 803,702 665,368 -- Units redeemed .... (44,296) (173,729) -- (6,049) (11,224) (1,760) (807,386) (1,082) -- --------- --------- --- --------- --------- --------- ---------- --------- --- Ending units ...... 40,941 217,462 -- 567,664 338,435 236,987 778,493 664,286 -- ========= ========= === ========= ========= ========= ========== ========= ===
(Continued) 27 NATIONWIDE VL SEPARATE ACCOUNT-C STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY, CONTINUED SIX MONTH PERIODS ENDED JUNE 30, 2002, 2001 AND 2000 (UNAUDITED)
FidVIPGrS FidVIPHI FidVIPHIS --------- -------- --------- 2002 2001 2000 2002 2001 2000 2002 2001 2000 ---- ---- ---- ---- ---- ---- ---- ---- ---- INVESTMENT ACTIVITY: Net investment income ........... $ (2,265) (31,554) (13,247) 215,976 (2,127) -- 151,888 476,944 124,981 Realized gain (loss) on investments ...... (963,781) (1,961,472) 286,500 (393,824) (25,683) -- (32,733) (923,662) (56,187) Change in unrealized gain (loss) on investments ... (2,882,038) (2,001,784) (780,706) 52,205 (187,312) -- (261,294) 281,090 (179,408) Reinvested capital gains .... -- 1,482,587 1,140,977 -- -- -- -- -- -- ----------- ---------- ---------- --------- --------- --- --------- --------- --------- Net increase (decrease) in contract owners' equity resulting from operations . (3,848,084) (2,512,223) 633,524 (125,643) (215,122) -- (142,139) (165,628) (110,614) ----------- ---------- ---------- --------- --------- --- --------- --------- --------- Equity transactions: Purchase payments received from contract owners .. 4,081,119 4,171,646 4,586,646 586 9,272 -- 334,225 395,194 780,810 Transfer from Nationwide Variable Life Separate Account-A (note 1) ........ -- -- -- -- 1,301,973 -- -- -- -- Transfers between funds .... (310,452) (4,597,465) 7,291,805 496,564 351,612 -- 1,460,293 (806,736) 192,927 Surrenders ........ -- -- -- (991,840) -- -- -- (59,607) -- Death benefits .... (16,042) (3,184) -- -- -- -- (1,298) (891) -- Policy loans (net of repayments) (note 4) ......... -- -- -- -- -- -- -- -- -- Deductions for surrender charges -- -- -- -- -- -- -- -- -- Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) (160,544) (209,087) (121,060) (21,639) (13,300) -- (38,232) (45,740) (36,085) ----------- ---------- ---------- --------- --------- --- --------- --------- --------- Net equity transactions .. 3,594,081 (638,090) 11,757,391 (516,329) 1,649,557 -- 1,754,988 (517,780) 937,652 ----------- ---------- ---------- --------- --------- --- --------- --------- --------- Net change in contract owners' equity ............ (254,003) (3,150,313) 12,390,915 (641,972) 1,434,435 -- 1,612,849 (683,408) 827,038 Contract owners' equity beginning of period ......... 16,332,678 23,891,303 9,943,032 2,188,535 -- -- 1,085,506 1,992,607 1,334,832 ----------- ---------- ---------- --------- --------- --- --------- --------- --------- Contract owners' equity end of period ............ $16,078,675 20,740,990 22,333,947 1,546,563 1,434,435 -- 2,698,355 1,309,199 2,161,870 =========== ========== ========== ========= ========= === ========= ========= ========= CHANGES IN UNITS: Beginning units ... 1,545,524 1,796,938 653,283 248,600 -- -- 165,596 266,741 137,733 ----------- ---------- ---------- --------- --------- --- --------- --------- --------- Units purchased ... 425,559 131,488 766,428 203,433 177,047 -- 271,304 8,552 101,330 Units redeemed .... (74,563) (180,574) (8,073) (268,213) (22,383) -- (6,048) (86,062) (3,907) ----------- ---------- ---------- --------- --------- --- --------- --------- --------- Ending units ...... 1,896,520 1,747,852 1,411,638 183,820 154,664 -- 430,852 189,231 235,156 =========== ========== ========== ========= ========= === ========= ========= =========
28 NATIONWIDE VL SEPARATE ACCOUNT-C STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY, CONTINUED SIX MONTH PERIODS ENDED JUNE 30, 2002, 2001 AND 2000 (UNAUDITED)
FidVIPOv FidVIPOvS FidVIPAM -------- --------- -------- 2002 2001 2000 2002 2001 2000 2002 2001 2000 ---- ---- ---- ---- ---- ---- ---- ---- ---- INVESTMENT ACTIVITY: Net investment income ............ $ 12,975 (3,811) -- 17,980 157,761 16,923 333,165 (13,147) -- Realized gain (loss) on investments ........ (538,305) (4,931) -- (95,426) (560,313) 101,344 (807,098) (71,675) -- Change in unrealized gain (loss) on investments .... 347,140 (154,481) -- (5,632) (392,401) (413,884) (400,916) (6,976) -- Reinvested capital gains ..... -- -- -- -- 264,927 144,214 -- -- -- ----------- --------- --- --------- --------- --------- ---------- --------- --- Net increase (decrease) in contract owners' equity resulting from operations .. (178,190) (163,223) -- (83,078) (530,026) (151,403) (874,849) (91,798) -- ----------- --------- --- --------- --------- --------- ---------- --------- --- EQUITY TRANSACTIONS: Purchase payments received from contract owners ... 92,463 93,262 -- 705,735 1,182,455 898,398 127,183 404,912 -- Transfer from Nationwide Variable Life Separate Account-A (note 1) -- 2,867,080 -- -- -- -- -- 7,508,670 -- Transfers between funds ..... 897,279 491,153 -- 108,990 717,825 1,433,517 1,630,988 1,815,502 -- Surrenders ......... (2,201,276) (57,969) -- -- (36,473) -- (5,457,384) -- -- Death benefits ..... (4,541) -- -- (373) (5,916) -- -- -- -- Policy loans (net of repayments) (note 4) .......... -- (71,279) -- -- -- -- -- -- -- Deductions for surrender charges . -- -- -- -- -- -- -- -- -- Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) . (32,212) (30,139) -- (78,801) (75,251) (49,900) (100,881) (81,013) -- ----------- --------- --- --------- --------- --------- ---------- --------- --- Net equity transactions ... (1,248,287) 3,292,108 -- 735,551 1,782,640 2,282,015 (3,800,094) 9,648,071 -- ----------- --------- --- --------- --------- --------- ---------- --------- --- NET CHANGE IN CONTRACT OWNERS' EQUITY ............. (1,426,477) 3,128,885 -- 652,473 1,252,614 2,130,612 (4,674,943) 9,556,273 -- CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD .......... 2,595,559 -- -- 3,375,169 3,414,605 1,592,636 9,040,490 -- -- ----------- --------- --- --------- --------- --------- ---------- --------- --- CONTRACT OWNERS' EQUITY END OF PERIOD ............. $ 1,169,082 3,128,885 -- 4,027,642 4,667,219 3,723,248 4,365,547 9,556,273 -- =========== ========= === ========= ========= ========= ========== ========= === CHANGES IN UNITS: Beginning units .... 329,072 -- -- 396,195 314,294 118,048 930,387 -- -- ----------- --------- --- --------- --------- --------- ---------- --------- --- Units purchased .... 244,530 353,079 -- 98,976 194,247 176,895 732,904 980,730 -- Units redeemed ..... (421,473) (619) -- (9,293) (22,268) (3,743) (1,172,678) (4,637) -- ----------- --------- --- --------- --------- --------- ---------- --------- --- Ending units ....... 152,129 352,460 -- 485,878 486,273 291,200 490,613 976,093 -- =========== ========= === ========= ========= ========= ========== ========= ===
(Continued) 29 NATIONWIDE VL SEPARATE ACCOUNT-C STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY, CONTINUED SIX MONTH PERIODS ENDED JUNE 30, 2002, 2001 AND 2000 (UNAUDITED)
FidVIPCon FidVIPConS FidVIPGrOp --------- ---------- ---------- 2002 2001 2000 2002 2001 2000 2002 2001 2000 ---- ---- ---- ---- ---- ---- ---- ---- ---- INVESTMENT ACTIVITY: Net investment income ............ $ 6,541 (1,817) -- 31,127 24,568 4,630 8,549 (1,322) -- Realized gain (loss) on investments ....... (9,139) 4,148 -- (140,852) (349,589) 87,214 (28,002) (84,496) -- Change in unrealized gain (loss) on investments .... (8,576) (9,036) -- 54,686 (407,927) (697,874) (87,962) (14,279) -- Reinvested capital gains ..... -- -- -- -- 142,864 500,421 -- -- -- ---------- --------- --- --------- --------- --------- -------- --------- --- Net increase (decrease) in contract owners' equity resulting from operations .. (11,174) (6,705) -- (55,039) (590,084) (105,609) (107,415) (100,097) -- ---------- --------- --- --------- --------- --------- -------- --------- --- EQUITY TRANSACTIONS: Purchase payments received from contract owners ... 1,787 144,663 -- 1,113,112 1,253,241 1,828,246 782 62,198 -- Transfer from Nationwide Variable Life Separate Account-A (note 1) .......... -- 1,343,784 -- -- -- -- -- 480,327 -- Transfers between funds ..... (36,265) (272,498) -- (442,023) (679,631) 740,175 (60,611) 916,547 -- Surrenders ......... (205,371) -- -- -- (100,150) -- (59,855) (174,839) -- Death benefits ..... -- -- -- (1,255) (6,373) -- -- -- -- Policy loans (net of repayments) (note 4) .......... -- -- -- -- -- -- -- (218,509) -- Deductions for surrender charges . -- -- -- -- -- -- -- -- -- Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) . (19,051) (18,712) -- (116,889) (122,423) (84,486) (10,791) (16,933) -- ---------- --------- --- --------- --------- --------- -------- --------- --- Net equity transactions ... (258,900) 1,197,237 -- 552,945 344,664 2,483,935 (130,475) 1,048,791 -- ---------- --------- --- --------- --------- --------- -------- --------- --- NET CHANGE IN CONTRACT OWNERS' EQUITY ............. (270,074) 1,190,532 -- 497,906 (245,420) 2,378,326 (237,890) 948,694 -- CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD .......... 1,281,193 -- -- 5,528,483 5,693,504 3,365,677 916,034 -- -- ---------- --------- --- --------- --------- --------- -------- --------- --- CONTRACT OWNERS' EQUITY END OF PERIOD ............. $1,011,119 1,190,532 -- 6,026,389 5,448,084 5,744,003 678,144 948,694 -- ========== ========= === ========= ========= ========= ======== ========= === CHANGES IN UNITS: Beginning units .... 141,885 -- -- 486,210 437,066 240,062 103,589 -- -- ---------- --------- --- --------- --------- --------- -------- --------- --- Units purchased .... 96,450 150,209 -- 97,549 69,608 182,615 138,086 100,627 -- Units redeemed ..... (125,449) (22,007) -- (48,228) (41,041) (6,522) (153,314) (200) -- ---------- --------- --- --------- --------- --------- -------- --------- --- Ending units ....... 112,886 128,202 -- 535,531 465,633 416,155 88,361 100,427 -- ========== ========= === ========= ========= ========= ======== ========= ===
30 NATIONWIDE VL SEPARATE ACCOUNT-C STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY, CONTINUED SIX MONTH PERIODS ENDED JUNE 30, 2002, 2001 AND 2000 (UNAUDITED)
FIDVIPGROPS GVITEMMRKTS GVITGVTBD --------------------------------- ------------------ --------------------------------- 2002 2001 2000 2002 2001 2000 2002 2001 2000 ----------- --------- --------- ---- ---- ---- --------- ---------- ---------- INVESTMENT ACTIVITY: Net investment income ....... $ 7,051 1,834 26,461 -- -- -- 1,188,826 725,194 458,297 Realized gain (loss) on investments ............ (145,901) (444,732) (138,174) 68 -- -- 109,317 255,461 (144,635) Change in unrealized gain (loss) on investments ..... (14,445) 147,736 (156,127) -- -- -- 753,613 (598,031) 315,272 Reinvested capital gains .... -- -- 164,127 -- -- -- 58,881 -- -- ----------- --------- --------- --- -- -- ---------- ---------- ---------- Net increase (decrease) in contract owners' equity resulting from operations. (153,295) (295,162) (103,713) 68 -- -- 2,110,637 382,624 628,934 ----------- --------- --------- --- -- -- ---------- ---------- ---------- EQUITY TRANSACTIONS: Purchase payments received from contract owners ...... 26,973 603,226 735,424 4,270 -- -- 5,836,794 2,025,236 2,466,468 Transfer from Nationwide Variable Life Separate Account-A (note 1) ........ -- -- -- -- -- -- -- 4,230,129 -- Transfers between funds ..... (886,590) (139,469) (859,895) (4,331) -- -- (9,289,081) 13,063,331 (1,383,495) Surrenders .................. -- -- -- -- -- -- -- -- -- Death benefits .............. (22,530) (24,776) -- -- -- -- (88,172) (48,091) -- Policy loans (net of repayments)(note 4) ....... -- -- -- -- -- -- -- -- -- Deductions for surrender charges ................... -- -- -- -- -- -- -- -- -- Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) ......... (23,824) (41,795) (39,760) (7) -- -- (612,283) (322,326) (138,943) ----------- --------- --------- --- -- -- ---------- ---------- ---------- Net equity transactions .. (905,971) 397,186 (164,231) (68) -- -- (4,152,742) 18,948,279 944,030 ----------- --------- --------- --- -- -- ---------- ---------- ---------- NET CHANGE IN CONTRACT OWNERS' EQUITY ...................... (1,059,266) 102,024 (267,944) -- -- -- (2,042,105) 19,330,903 1,572,964 CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ......... 2,035,794 2,230,878 2,478,202 -- -- -- 63,083,226 15,368,546 14,808,767 ----------- --------- --------- --- -- -- ---------- ---------- ---------- CONTRACT OWNERS' EQUITY END OF PERIOD ...................... $ 976,528 2,332,902 2,210,258 -- -- -- 61,041,121 34,699,449 16,381,731 =========== ========= ========= === == == ========== ========== ========== CHANGES IN UNITS: Beginning units ............. 248,120 231,706 212,333 -- -- -- 5,107,172 1,340,109 1,460,462 ----------- --------- --------- --- -- -- ---------- ---------- ---------- Units purchased ............. 3,562 80,873 63,182 487 -- -- 1,446,027 1,614,069 236,371 Units redeemed .............. (114,126) (46,438) (78,469) (487) -- -- (1,824,572) (5,227) (142,354) ----------- --------- --------- --- -- -- ---------- ---------- ---------- Ending units ................ 137,556 266,141 197,046 -- -- -- 4,728,627 2,948,951 1,554,479 =========== ========= ========= === == == ========== ========== ==========
(Continued) 31 NATIONWIDE VL SEPARATE ACCOUNT-C STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY, CONTINUED SIX MONTH PERIODS ENDED JUNE 30, 2002, 2001 AND 2000 (UNAUDITED)
GVITGROWTH GVITMYMKT GVITSMCAPGR -------------------------------- ------------------------------------ ------------------------------ 2002 2001 2000 2002 2001 2000 2002 2001 2000 ---------- --------- --------- ---------- ---------- ---------- -------- --------- --------- INVESTMENT ACTIVITY: Net investment income .......$ (3,745) (4,648) (549) 469,958 1,761,111 569,990 (1,432) (2,368) (1,591) Realized gain (loss) on investments ................ (503,555) (871,721) (174,087) -- -- -- (264) (162,711) 61,669 Change in unrealized gain (loss) on investments ...... 121,769 334,530 203,778 -- -- -- (135,708) 127,801 28,959 Reinvested capital gains .... -- -- -- -- -- -- -- -- -- ---------- --------- --------- ---------- ---------- ---------- -------- --------- --------- Net increase (decrease) in contract owners' equity resulting from operations. (385,531) (541,839) 29,142 469,958 1,761,111 569,990 (137,404) (37,278) 89,037 ---------- --------- --------- ---------- ---------- ---------- -------- --------- --------- EQUITY TRANSACTIONS: Purchase payments received from contract owners ....... 223,215 876,655 923,374 14,460,535 33,301,210 12,819,440 2,626 40,746 9,361 Transfer from Nationwide Variable Life Separate Account-A (note 1) ......... -- 493,585 -- -- 21,745,483 -- -- -- -- Transfers between funds ..... 290,550 (483,122) (515,085) (603,235) (29,459,835) 7,152,625 747,507 351,476 347,100 Surrenders .................. (533,155) (69,524) -- (4,262,445) (3,179,021) -- -- -- -- Death benefits .............. (1,205) (936) -- (59,915) (8,242) -- (455) -- -- Policy loans (net of repayments)(note 4) ........ -- -- -- -- 2,856,200 -- -- -- -- Deductions for surrender charges .................... -- -- -- -- -- -- -- -- -- Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) .......... (38,178) (42,463) (40,132) (1,108,043) (662,404) (286,491) (7,147) (12,207) (9,138) ---------- --------- --------- ---------- ---------- ---------- -------- --------- --------- Net equity transactions .. (58,773) 774,195 368,157 8,426,897 24,593,391 5,380,324 742,531 380,015 347,323 ---------- --------- --------- ---------- ---------- ---------- -------- --------- --------- NET CHANGE IN CONTRACT OWNERS' EQUITY ...................... (444,304) 232,356 397,299 8,896,855 26,354,502 5,950,314 605,127 342,737 436,360 CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ......... 2,364,565 2,144,000 2,109,851 90,634,539 67,044,763 18,757,568 232,453 2,352,355 2,649,638 ---------- --------- --------- ---------- ---------- ---------- -------- --------- --------- CONTRACT OWNERS' EQUITY END OF PERIOD ...................$1,920,261 2,376,356 2,507,150 99,531,394 93,399,265 24,707,882 837,580 2,695,092 3,085,998 ========== ========= ========= ========== ========== ========== ======== ========= ========= CHANGES IN UNITS: Beginning units ............. 388,409 252,079 181,521 7,739,335 5,904,882 1,748,236 15,332 137,119 129,320 ---------- --------- --------- ---------- ---------- ---------- -------- --------- --------- Units purchased ............. 182,039 104,732 81,798 3,563,582 3,264,265 1,182,337 57,750 57,140 14,935 Units redeemed .............. (189,504) (985) (48,807) (2,834,486) (1,115,788) (688,883) (4,360) (28,539) (477) ---------- --------- --------- ---------- ---------- ---------- -------- --------- --------- Ending units ................ 380,944 355,826 214,512 8,468,431 8,053,359 2,241,690 68,722 165,720 143,778 ========== ========= ========= ========== ========== ========== ======== ========= =========
32 NATIONWIDE VL SEPARATE ACCOUNT-C STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY, CONTINUED SIX MONTH PERIODS ENDED JUNE 30, 2002, 2001 AND 2000 (UNAUDITED)
GVITSMCAPVAL GVITSMCOMP GVITTOTRT --------------------------------- -------------------------------- ---------------------------- 2002 2001 2000 2002 2001 2000 2002 2001 2000 ----------- --------- --------- --------- ---------- --------- --------- ------- ------- INVESTMENT ACTIVITY: Net investment income ....... $ (13,051) (12,129) (1,608) (17,292) (8,131) (8,378) 2,356 478 337 Realized gain (loss) on investments ................ (105,888) (1,803) 13,986 (47,020) (298,964) 626,216 (3,941) (58,148) 5,286 Change in unrealized gain (loss) on investments ...... (1,136,756) 1,048,451 66,935 (375,943) 349,030 (314,178) (124,510) 46,856 6,209 Reinvested capital gains .... 173,596 -- -- -- -- -- -- -- -- ----------- --------- --------- --------- ---------- --------- --------- ------- ------- Net increase (decrease) in contract owners' equity resulting from operations . (1,082,099) 1,034,519 79,313 (440,255) 41,935 303,660 (126,095) (10,814) 11,832 ----------- --------- --------- --------- ---------- --------- --------- ------- ------- EQUITY TRANSACTIONS: Purchase payments received from contract owners ....... 358,396 665,431 353,002 408,932 576,248 818,252 62,134 22,197 176,200 Transfer from Nationwide Variable Life Separate Account-A (note 1) ......... -- 4,217,017 -- -- 1,864,063 -- -- 14,525 -- Transfers between funds ..... 552,456 353,767 686,918 (328,597) 3,123,194 868,465 84,617 42,551 (139,539) Surrenders .................. -- -- -- -- (74,076) -- -- -- -- Death benefits .............. (3,018) (6,301) -- (22,115) (16,545) -- (104) -- -- Policy loans (net of repayments) (note 4) ...... -- -- -- -- -- -- -- -- -- Deductions for surrender charges .................... -- -- -- -- -- -- -- -- -- Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) .......... (106,463) (87,670) (17,157) (144,250) (151,534) (77,897) (28,943) (16,389) (5,312) ----------- --------- --------- --------- ---------- --------- --------- ------- ------- Net equity transactions ... 801,371 5,142,244 1,022,763 (86,030) 5,321,350 1,608,820 117,704 62,884 31,349 ----------- --------- --------- --------- ---------- --------- --------- ------- ------- NET CHANGE IN CONTRACT OWNERS' EQUITY ...................... (280,728) 6,176,763 1,102,076 (526,285) 5,363,285 1,912,480 (8,391) 52,070 43,181 CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ......... 7,765,624 2,460,363 177,662 9,756,252 5,855,898 2,633,502 1,903,761 193,417 142,327 ----------- --------- --------- --------- ---------- --------- --------- ------- ------- CONTRACT OWNERS' EQUITY END OF PERIOD ................... $ 7,484,896 8,637,126 1,279,738 9,229,967 11,219,183 4,545,982 1,895,370 245,487 185,508 =========== ========= ========= ========= ========== ========= ========= ======= ======= CHANGES IN UNITS: Beginning units ............. 501,921 203,318 16,261 744,925 415,566 202,708 205,773 18,361 13,172 ----------- --------- --------- --------- ---------- --------- --------- ------- ------- Units purchased ............. 287,387 345,467 90,902 182,627 409,955 129,033 15,812 10,421 17,138 Units redeemed .............. (237,677) (2,995) (1,437) (190,314) (16,856) (5,961) (3,283) (3,431) (13,667) ----------- --------- --------- --------- ---------- --------- --------- ------- ------- Ending units ................ 551,631 545,790 105,726 737,238 808,665 325,780 218,302 25,351 16,643 =========== ========= ========= ========= ========== ========= ========= ======= =======
(Continued) 33 NATIONWIDE VL SEPARATE ACCOUNT-C STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY, CONTINUED SIX MONTH PERIODS ENDED JUNE 30, 2002, 2001 AND 2000 (UNAUDITED)
GVITWLEAD JPMORBAL JANCAPAP --------------------------------- ------------------------------ ------------------------- 2002 2001 2000 2002 2001 2000 2002 2001 2000 ----------- --------- --------- --------- --------- ------- --------- ----- ---- INVESTMENT ACTIVITY: Net investment income ....... $ 9,875 7,881 5,104 14,884 21,349 12,100 423 1,790 -- Realized gain (loss) on investments ................ (26,737) (33,733) 47,605 (100,552) (51,401) (23,559) (27,101) (5,077) -- Change in unrealized gain (loss) on investments ...... (53,313) (123,636) (55,907) (80,309) 22,336 37,587 (179,277) 1,442 -- Reinvested capital gains .... -- -- -- -- -- -- -- -- -- ----------- --------- --------- --------- --------- ------- --------- ----- -- Net increase (decrease) in contract owners' equity resulting from operations . (70,175) (149,488) (3,198) (165,977) (7,716) 26,128 (205,955) (1,845) -- ----------- --------- --------- --------- --------- ------- --------- ----- -- EQUITY TRANSACTIONS: Purchase payments received from contract owners ....... 5,298 82,332 70,664 118,569 419,083 374,066 12,873 138,014 -- Transfer from Nationwide Variable Life Separate Account-A (note 1) ......... -- -- -- -- -- -- -- 27,837 -- Transfers between funds ..... (28,973) (67,159) (311,599) 282,493 600,431 (160,139) 116,368 153,012 -- Surrenders .................. -- -- -- (1,235,895) (20,346) -- -- -- -- Death benefits .............. (73) -- -- (1,571) (838) -- -- -- -- Policy loans (net of repayments) (note 4) ....... -- -- -- -- -- -- -- -- -- Deductions for surrender charges .................... -- -- -- -- -- -- -- -- -- Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) .......... (11,114) (11,130) (13,443) (33,150) (28,515) (17,478) (81,568) (1,353) -- ----------- --------- --------- --------- --------- ------- --------- ----- -- Net equity transactions ... (34,862) 4,043 (254,378) (869,554) 969,815 196,449 47,673 317,510 -- ----------- --------- --------- --------- --------- ------- --------- ----- -- NET CHANGE IN CONTRACT OWNERS' EQUITY ...................... (105,037) (145,445) (257,576) (1,035,531) 962,099 222,577 (158,282) 315,665 -- CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ......... 1,185,387 1,027,816 1,110,965 2,593,362 1,329,834 750,005 2,679,960 -- -- ----------- --------- --------- --------- --------- ------- --------- ----- -- CONTRACT OWNERS' EQUITY END OF PERIOD ................... $ 1,080,350 882,371 853,389 1,557,831 2,291,933 972,582 2,521,678 315,665 -- =========== ========= ========= ========= ========= ======= ========= ===== == CHANGES IN UNITS: Beginning units ............. 132,145 92,654 87,461 270,829 133,237 74,582 419,473 -- -- ----------- --------- --------- --------- --------- ------- --------- ----- -- Units purchased ............. 124,371 6,924 6,302 65,069 101,245 39,904 87,966 44,960 -- Units redeemed .............. (129,357) (6,563) (26,016) (157,898) (531) (20,111) (82,221) (349) -- ----------- --------- --------- --------- --------- ------- --------- ----- -- Ending units ................ 127,159 93,015 67,747 178,000 233,951 94,375 425,218 44,611 -- =========== ========= ========= ========= ========= ======= ========= ===== ==
34 NATIONWIDE VL SEPARATE ACCOUNT-C STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY, CONTINUED SIX MONTH PERIODS ENDED JUNE 30, 2002, 2001 AND 2000 (UNAUDITED)
JANGLTECH JANINTGRO MGVITMULTISEC ------------------------------ ---------------------------- --------------------------------- 2002 2001 2000 2002 2001 2000 2002 2001 2000 ---------- --------- ------- --------- ------- ------- --------- --------- --------- INVESTMENT ACTIVITY: Net investment income ........ $ (2,081) 4,671 (331) 2,250 2,936 (43) 38,770 41,505 73,910 Realized gain (loss) on investments ................. (78,611) (505,448) (6,132) (80,528) (48,517) (7) (1,186) 31,074 2,888 Change in unrealized gain (loss) on investments ....... (268,815) 145,022 (25,276) (80,985) (59,539) 9,370 (11,730) (18,374) (13,051) Reinvested capital gains ..... -- -- -- -- -- -- -- -- -- ---------- --------- ------- --------- ------- ------- --------- --------- --------- Net increase (decrease) in contract owners' equity resulting from operations . (349,507) (355,755) (31,739) (159,263) (105,120) 9,320 25,854 54,205 63,747 ---------- --------- ------- --------- ------- ------- --------- --------- --------- EQUITY TRANSACTIONS: Purchase payments received from contract owners ........ 91,483 585,507 138,667 117,370 126,706 2,096 97,054 109,395 441,440 Transfer from Nationwide Variable Life Separate Account-A (note 1) .......... -- 134,095 -- -- 21,704 -- -- -- -- Transfers between funds ...... 595,085 (425,353) 216,727 (28,603) 257,721 238,417 (102,759) (1,933,662) 1,672,692 Surrenders ................... -- (19,130) -- -- -- -- -- -- -- Death benefits ............... -- -- -- -- -- -- (537) (782) -- Policy loans (net of repayments) (note 4) ........ -- -- -- -- -- -- -- -- -- Deductions for surrender charges ..................... -- -- -- -- -- -- -- -- -- Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) ........... (12,331) (13,867) (2,798) (21,152) (12,961) (3,093) (18,582) (38,241) (42,821) ---------- --------- ------- --------- ------- ------- --------- --------- --------- Net equity transactions ... 674,237 261,252 352,596 67,615 393,170 237,420 (24,824) (1,863,290) 2,071,311 ---------- --------- ------- --------- ------- ------- --------- --------- --------- NET CHANGE IN CONTRACT OWNERS' EQUITY ....................... 324,730 (94,503) 320,857 (91,648) 288,050 246,740 1,030 (1,809,085) 2,135,058 CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD .......... 603,970 1,222,654 -- 1,211,805 444,948 -- 1,456,593 3,341,656 434,557 ---------- --------- ------- --------- ------- ------- --------- --------- --------- CONTRACT OWNERS' EQUITY END OF PERIOD .................... $ 928,700 1,128,151 320,857 1,120,157 732,998 246,740 1,457,623 1,532,571 2,569,615 ========== ========= ======= ========= ======= ======= ========= ========= ========= CHANGES IN UNITS: Beginning units .............. 147,511 186,433 -- 192,654 53,925 -- 131,899 314,131 42,991 ---------- --------- ------- --------- ------- ------- --------- --------- --------- Units purchased .............. 227,838 120,356 33,007 87,873 51,832 24,391 20,592 474 209,777 Units redeemed ............... (52,265) (74,030) (245) (77,568) (356) (39) (22,950) (171,350) (4,223) ---------- --------- ------- --------- ------- ------- --------- --------- --------- Ending units ................. 323,084 232,759 32,762 202,959 105,401 24,352 129,541 143,255 248,545 ========== ========= ======= ========= ======= ======= ========= ========= =========
(Continued) 35 NATIONWIDE VL SEPARATE ACCOUNT-C STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY, CONTINUED SIX MONTH PERIODS ENDED JUNE 30, 2002, 2001 AND 2000 (UNAUDITED)
NWGVITSTRVAL NBAMTGRO NBAMTGUARD ---------------------------------- ------------------------- --------------------------------- 2002 2001 2000 2002 2001 2000 2002 2001 2000 ---------- ------- ------- ------- --------- ---- --------- --------- ------- INVESTMENT ACTIVITY: Net investment income ....... $ (1,456) 1,077 173 (1,342) (4,342) -- 10,266 3,279 3,699 Realized gain (loss) on investments ................ (35,371) (25,777) (18,098) (146,481) (1,259,827) -- (16,137) (21,020) 19,005 Change in unrealized gain (loss) on investments ...... (54,208) (13,588) (10,745) (18,489) (843,878) -- (259,376) 20,741 3,878 Reinvested capital gains .... -- -- -- -- 1,683,860 -- -- 84,223 -- ---------- ------- ------- ------- --------- -- --------- --------- ------- Net increase (decrease) in contract owners' equity resulting from operations . (91,035) (38,288) (28,670) (166,312) (424,187) -- (265,247) 87,223 26,582 ---------- ------- ------- ------- --------- -- --------- --------- ------- EQUITY TRANSACTIONS: Purchase payments received from contract owners ....... 3,522 100,247 110,849 80,253 458,314 -- 167,105 322,771 388,331 Transfer from Nationwide Variable Life Separate Account-A (note 1) ......... -- -- -- -- 3,453,400 -- -- 1,335 -- Transfers between funds ..... (232,329) 471,444 (665,620) (256,128) 190,197 -- (242,335) 610,983 (244,558) Surrenders .................. -- -- -- -- -- -- -- -- -- Death benefits .............. -- -- -- -- -- -- (1,632) -- -- Policy loans (net of repayments) (note 4) ....... -- -- -- -- -- -- -- -- -- Deductions for surrender charges .................... -- -- -- -- -- -- -- -- -- Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) .......... (8,904) (6,177) (5,043) (16,410) (27,018) -- (20,381) (16,831) (8,312) ---------- ------- ------- ------- --------- -- --------- --------- ------- Net equity transactions ... (237,711) 565,514 (559,814) (192,285) 4,074,893 -- (97,243) 918,258 135,461 ---------- ------- ------- ------- --------- -- --------- --------- ------- NET CHANGE IN CONTRACT OWNERS' EQUITY ...................... (328,746) 527,226 (588,484) (358,597) 3,650,706 -- (362,490) 1,005,481 162,043 CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ......... 795,490 273 700,700 944,392 -- -- 2,355,689 1,234,432 824,401 ---------- ------- ------- ------- --------- -- --------- --------- ------- CONTRACT OWNERS' EQUITY END OF PERIOD ...................... $ 466,744 527,499 112,216 585,795 3,650,706 -- 1,993,199 2,239,913 986,444 ========== ======= ======= ======= ========= == ========= ========= ======= CHANGES IN UNITS: Beginning units ............. 87,806 29 79,877 124,202 -- -- 220,317 113,427 76,442 ---------- ------- ------- ------- --------- -- --------- --------- ------- Units purchased ............. 399 91,097 12,390 125,476 411,097 -- 15,479 171,055 35,999 Units redeemed .............. (27,678) (34,652) (79,283) (153,696) (399) -- (25,697) (81,798) (24,194) ---------- ------- ------- ------- --------- -- --------- --------- ------- Ending units ................ 60,527 56,474 12,984 95,982 410,698 -- 210,099 202,684 88,247 ========== ======= ======= ======= ========= == ========= ========= =======
36 NATIONWIDE VL SEPARATE ACCOUNT-C STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY, CONTINUED SIX MONTH PERIODS ENDED JUNE 30, 2002, 2001 AND 2000 (UNAUDITED)
NBAMTLMAT NBAMTMCGR NBAMTPART ----------------------------- --------------------------------- --------------------------------- 2002 2001 2000 2002 2001 2000 2002 2001 2000 ----------- --------- ---- --------- --------- --------- --------- --------- --------- INVESTMENT ACTIVITY: Net investment income ....... $ 297,084 238,733 -- (2,146) (2,889) (2,434) 21,034 17,063 4,841 Realized gain (loss) on investments ................ (73,454) (8,688) -- (77,163) (325,875) 203,318 (27,579) (144,753) (62,685) Change in unrealized gain (loss) on investments ...... (89,501) (138,767) -- (128,312) 47,593 (30,929) (745,546) (279,308) (83,881) Reinvested capital gains .... -- -- -- -- -- 442 -- 268,466 148,730 ----------- --------- -- --------- --------- --------- --------- --------- --------- Net increase (decrease) in contract owners' equity resulting from operations . 134,129 91,278 -- (207,621) (281,171) 170,397 (752,091) (138,532) 7,005 ----------- --------- -- --------- --------- --------- --------- --------- --------- EQUITY TRANSACTIONS: Purchase payments received from contract owners ....... 416,146 416,526 -- 52,719 375,009 485,372 585,965 781,907 485,420 Transfer from Nationwide Variable Life Separate Account-A (note 1) ......... -- 3,631,299 -- -- -- -- -- 4,056,255 -- Transfers between funds ..... 735,945 931,796 -- 338,355 (467,773) 144,271 400,692 547,430 (256,948) Surrenders .................. (3,822,753) -- -- -- -- -- (13,721) (7,757) -- Death benefits .............. (25,067) -- -- (2,492) (2,113) -- (24,429) (865) -- Policy loans (net of repayments) (note 4) ....... -- -- -- -- -- -- -- -- -- Deductions for surrender charges .................... -- -- -- -- -- -- -- -- -- Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) .......... (76,639) (47,974) -- (15,411) (22,606) (21,037) (70,977) (69,652) (20,295) ----------- --------- -- --------- --------- --------- --------- --------- --------- Net equity transactions ... (2,772,368) 4,931,647 -- 373,171 (117,483) 608,606 877,530 5,307,318 208,177 ----------- --------- -- --------- --------- --------- --------- --------- --------- NET CHANGE IN CONTRACT OWNERS' EQUITY ...................... (2,638,239) 5,022,925 -- 165,550 (398,654) 779,003 125,439 5,168,786 215,182 CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ......... 6,466,631 -- -- 966,603 1,760,578 749,388 6,618,175 2,006,073 1,039,111 ----------- --------- -- --------- --------- --------- --------- --------- --------- CONTRACT OWNERS' EQUITY END OF PERIOD ................... $ 3,828,392 5,022,925 -- 1,132,153 1,361,924 1,528,391 6,743,614 7,174,859 1,254,293 =========== ========= == ========= ========= ========= ========= ========= ========= CHANGES IN UNITS: Beginning units ............. 599,545 -- -- 80,698 110,315 43,280 682,432 200,302 104,066 ----------- --------- -- --------- --------- --------- --------- --------- --------- Units purchased ............. 620,668 498,319 -- 36,285 12,418 36,259 597,040 529,511 51,039 Units redeemed .............. (872,329) (15,279) -- (2,641) (24,007) (1,125) (509,927) (7,375) (28,550) ----------- --------- -- --------- --------- --------- --------- --------- --------- Ending units ................ 347,884 483,040 -- 114,342 98,726 78,414 769,545 722,438 126,555 =========== ========= == ========= ========= ========= ========= ========= =========
(Continued) 37 NATIONWIDE VL SEPARATE ACCOUNT-C STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY, CONTINUED SIX MONTH PERIODS ENDED JUNE 30, 2002, 2001 AND 2000 (UNAUDITED)
OPPAGGGRO OPPBDFD ----------------------------------------- ------------------------------------ 2002 2001 2000 2002 2001 2000 ----------- ----------- ----------- ----------- ----------- -------- INVESTMENT ACTIVITY: Net investment income ................... $ 34,806 72,135 (8,493) 98,343 21,899 -- Realized gain (loss) on investments ..... (1,222,248) (1,737,360) 850,475 7,527 (9,916) -- Change in unrealized gain (loss) on investments ........................ (190,577) (3,180,445) (113,083) (70,736) (2,663) -- Reinvested capital gains ................ -- 1,380,419 176,333 -- -- -- ----------- ----------- ----------- ----------- ----------- ------ Net increase (decrease) in contract owners' equity resulting from operations .......... 1,378,019) (3,465,251) 905,232 35,134 9,320 -- ----------- ----------- ----------- ----------- ----------- ------ EQUITY TRANSACTIONS: Purchase payments received from contract owners ...................... 538,819 1,157,535 1,224,175 237,251 142,731 -- Transfer from Nationwide Variable Life Separate Account-A (note 1) .......... -- 3 -- -- 556,785 -- Transfers between funds ................. (825,384) 7,873,381 20,658 (621,291) 352,358 -- Surrenders .............................. -- -- -- (93,561) (123,934) -- Death benefits .......................... (14,182) (3,997) -- -- -- -- Policy loans (net of repayments) (note 4) -- -- -- -- (148,802) -- Deductions for surrender charges ........ -- -- -- -- -- -- Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) .................... (72,234) (115,033) (52,161) (24,113) (11,605) -- ----------- ----------- ----------- ----------- ----------- ------ Net equity transactions ............ (372,981) 8,911,889 1,192,672 (501,714) 767,533 -- ----------- ----------- ----------- ----------- ----------- ------ NET CHANGE IN CONTRACT OWNERS' EQUITY ..... (1,751,000) 5,446,638 2,097,904 (466,580) 776,853 -- CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ............................... 8,196,634 6,852,272 3,891,683 2,058,107 -- -- ----------- ----------- ----------- ----------- ----------- ------ CONTRACT OWNERS' EQUITY END OF PERIOD ..... $ 6,445,634 12,298,910 5,989,587 1,591,527 776,853 -- =========== =========== =========== =========== =========== ====== CHANGES IN UNITS: Beginning units ......................... 782,585 445,302 222,462 193,237 -- -- ----------- ----------- ----------- ----------- ----------- ------ Units purchased ......................... 55,241 652,672 84,988 113,400 74,571 -- Units redeemed .......................... (93,363) (1,628) (23,691) (160,603) (119) -- ----------- ----------- ----------- ----------- ----------- ------ Ending units ............................ 744,463 1,096,346 283,759 146,034 74,452 -- =========== =========== =========== =========== =========== ======
OPPCAPAP ------------------------------------ 2002 2001 2000 ----------- ----------- ----------- INVESTMENT ACTIVITY: Net investment income ................... 43,291 39,848 (1,510) Realized gain (loss) on investments ..... (500,471) 16,989 219,256 Change in unrealized gain (loss) on investments ....................... (1,990,603) (1,219,257) (171,481) Reinvested capital gains ................ -- 796,090 217,412 ----------- ----------- ----------- Net increase (decrease) in contract owners' equity resulting from operations ......... (2,447,783) (366,330) 263,677 ----------- ----------- ----------- EQUITY TRANSACTIONS: Purchase payments received from contract owners ...................... 937,502 1,427,277 1,282,006 Transfer from Nationwide Variable Life Separate Account-A (note 1) ............. -- 3,177,029 -- Transfers between funds ................. 380,558 1,370,051 372,467 Surrenders .............................. (140,635) -- -- Death benefits .......................... (9,796) (2,181) -- Policy loans (net of repayments) (note 4) -- -- -- Deductions for surrender charges ........ -- -- -- Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) .................... (121,834) (110,514) (19,415) ----------- ----------- ----------- Net equity transactions .......... 1,045,795 5,861,662 1,635,058 ----------- ----------- ----------- NET CHANGE IN CONTRACT OWNERS' EQUITY .... (1,401,988) 5,495,332 1,898,735 CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD .............................. 11,870,320 5,835,252 2,825,533 ----------- ----------- ----------- CONTRACT OWNERS' EQUITY END OF PERIOD .... 10,468,332 11,330,584 4,724,268 =========== =========== =========== CHANGES IN UNITS: Beginning units ......................... 938,153 407,726 196,059 ----------- ----------- ----------- Units purchased ......................... 313,625 418,930 108,172 Units redeemed .......................... (224,252) (1,291) (2,321) ----------- ----------- ----------- Ending units ............................ 1,027,526 825,365 301,910 =========== =========== ===========
38 NATIONWIDE VL SEPARATE ACCOUNT-C STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY, CONTINUED SIX MONTH PERIODS ENDED JUNE 30, 2002, 2001 AND 2000 (UNAUDITED)
OPPGLSEC OPPMSGRINC -------------------------------------- ------------------------------------- 2002 2001 2000 2002 2001 2000 ---------- ---------- --------- -------- --------- ---------- INVESTMENT ACTIVITY: Net investment income ................... $ 5,129 26,296 -- 2,064 1,692 711 Realized gain (loss) on investments ..... (159,055) (672,495) -- 2,778 (59,100) 7,872 Change in unrealized gain (loss) on investments ........................ 37,075 (157,428) -- (44,959) 32,345 (30,566) Reinvested capital gains ................ -- 548,160 -- -- -- 21,075 -------- -------- ----- ------- ------- ---- Net increase (decrease) in contract owners' equity resulting from operations ........... (116,851) (255,467) -- (40,117) (25,063) (908) -------- -------- ----- ------- ------- ---- EQUITY TRANSACTIONS: Purchase payments received from contract owners ....................... 75,586 360,353 -- 58,683 124,618 188,694 Transfer from Nationwide Variable Life Separate Account-A (note 1) ........... -- 1,831,578 -- -- -- -- Transfers between funds ................. (287,639) 100,435 -- (15,901) (130,612) (193,593) Surrenders .............................. (106,947) -- -- -- -- -- Death benefits .......................... -- -- -- (1,245) (1,053) -- Policy loans (net of repayments) (note 4) -- -- -- -- -- -- Deductions for surrender charges ........ -- -- -- -- -- -- Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) ..................... (21,614) (24,015) -- (7,089) (9,755) (9,570) ------- ------- ------ ------ ------ ------ Net equity transactions ............. (340,614) 2,268,351 -- 34,448 (16,802) (14,469) -------- --------- ------ ------ ------- ------- NET CHANGE IN CONTRACT OWNERS' EQUITY ...... (457,465) 2,012,884 -- (5,669) (41,865) (15,377) CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD .................................. 2,166,494 -- -- 508,403 544,892 528,617 --------- --------- ------ ------- ------- ------- CONTRACT OWNERS' EQUITY END OF PERIOD ...... $ 1,709,029 2,012,884 -- 502,734 503,027 513,240 =========== ========= ======= ======== ======= ======= CHANGES IN UNITS: Beginning units ......................... 258,325 -- -- 57,708 55,343 48,784 ------- --------- ------- ------ ------ ------ Units purchased ......................... 307,223 235,504 -- 6,698 6,356 17,901 Units redeemed .......................... (346,068) (5,547) -- (2,906) (7,268) (19,317) -------- ------ ------- ------ ------ ------- Ending units ............................ 219,480 229,957 -- 61,500 54,431 47,368 ======= ======= ======== ======= ====== ======
OPPMULTSTR ------------------------------- 2002 2001 2000 -------- --------- ------ INVESTMENT ACTIVITY: Net investment income ................... 22,514 30,013 -- Realized gain (loss) on investments ..... (2,963) (14,081) -- Change in unrealized gain (loss) on investments ........................ (84,488) (13,447) -- Reinvested capital gains ................ 9,872 42,267 -- -------- --------- ------ Net increase (decrease) in contract owners' equity resulting from operations ........... (55,065) 44,752 -- -------- --------- ------ EQUITY TRANSACTIONS: Purchase payments received from contract owners ....................... 129,609 316,738 -- Transfer from Nationwide Variable Life Separate Account-A (note 1) ........... -- 765,121 -- Transfers between funds ................. (245,554) (8,186) -- Surrenders .............................. -- -- -- Death benefits .......................... -- -- -- Policy loans (net of repayments) (note 4) -- -- -- Deductions for surrender charges ........ -- -- -- Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) ..................... (9,755) (10,684) -- -------- --------- ------ Net equity transactions ............. (125,700) 1,062,989 -- -------- --------- ------ NET CHANGE IN CONTRACT OWNERS' EQUITY ...... (180,765) 1,107,741 -- CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD .................................. 953,339 -- -- -------- --------- ------ CONTRACT OWNERS' EQUITY END OF PERIOD ...... 772,574 1,107,741 -- ======== ========= ====== CHANGES IN UNITS: Beginning units ......................... 92,958 -- -- -------- --------- ------ Units purchased ......................... 64,059 126,794 -- Units redeemed .......................... (75,968) (22,192) -- -------- --------- ------ Ending units ............................ 81,049 104,602 -- ======== ========= ======
39 NATIONWIDE VL SEPARATE ACCOUNT-C STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY, CONTINUED SIX MONTH PERIODS ENDED JUNE 30, 2002, 2001 AND 2000 (UNAUDITED)
SGVITMDCPGR STOPP2 -------------------------------- ---------------------------- 2002 2001 2000 2002 2001 2000 ---- ---- ---- ---- ---- ---- INVESTMENT ACTIVITY: Net investment income ................... $ (1,553) (2,660) (2,281) (12,804) (8,486) -- Realized gain (loss) on investments ..... (171,047) (326,333) 97,974 (185,687) 31,134 -- Change in unrealized gain (loss) on investments ........................ (30,276) 140,248 (104,528) (1,169,624) (75,746) -- Reinvested capital gains ................ -- -- -- -- -- -- ---- ---- ---- ---- ---- ---- Net increase (decrease) in contract owners' equity resulting from operations ........... (202,876) (188,745) (8,835) (1,368,115) (53,098) -- -------- -------- ------ ---------- ------- ----- EQUITY TRANSACTIONS: Purchase payments received from contract owners ....................... 15,691 69,787 537,632 460,220 742,489 -- Transfer from Nationwide Variable Life Separate Account-A (note 1) ........... -- -- -- -- 7,044,683 -- Transfers between funds ................. (165,008) 279,434 (323,543) 442,767 (677,857) -- Surrenders .............................. -- -- -- (88,859) (340,475) -- Death benefits .......................... (497) (958) -- (23,874) -- -- Policy loans (net of repayments) (note 4) -- -- -- -- (422,752) -- Deductions for surrender charges ........ -- -- -- -- -- -- Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) ..................... (14,469) (22,418) (20,245) (88,651) (77,646) -- ------- ------- ------- ------- ------- ---- Net equity transactions ............. (164,283) 325,845 193,844 701,603 6,268,442 -- -------- ------- ------- ------- --------- ---- NET CHANGE IN CONTRACT OWNERS' EQUITY ...... (367,159) 137,100 185,009 (666,512) 6,215,344 -- CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ................................ 874,814 1,159,496 932,453 8,271,620 479,817 -- ------- --------- ------- --------- ------- ---- CONTRACT OWNERS' EQUITY END OF PERIOD ...... $ 507,655 1,296,596 1,117,462 7,605,108 6,695,161 -- ======= ========= ========= ========= ========= ---- CHANGES IN UNITS: Beginning units ......................... 77,229 71,051 48,159 875,255 48,820 -- ------ ------ ------ ------- ------ ---- Units purchased ......................... 54,015 37,784 25,651 629,457 663,770 -- Units redeemed .......................... (72,586) (16,510) (18,755) (556,098) (31,853) -- ------- ------- ------- -------- ------- ---- Ending units ............................ 58,658 92,325 55,055 948,614 680,737 -- ====== ====== ====== ======= ======= ====
STDISC2 ------------------------ 2002 2001 2000 ---- ---- ---- INVESTMENT ACTIVITY: Net investment income ................... (108) -- -- Realized gain (loss) on investments ..... 6,324 -- -- Change in unrealized gain (loss) on investments ........................ (4,206) -- -- Reinvested capital gains ................ -- -- -- ---- ---- ---- Net increase (decrease) in contract owners' equity resulting from operations ........... 2,010 -- -- ---- ---- ---- EQUITY TRANSACTIONS: Purchase payments received from contract owners ....................... 19,252 -- -- Transfer from Nationwide Variable Life Separate Account-A (note 1) ........... -- 64,554 -- Transfers between funds ................. 27,710 -- -- Surrenders .............................. -- -- -- Death benefits .......................... -- -- -- Policy loans (net of repayments) (note 4) -- -- -- Deductions for surrender charges ........ -- -- -- Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) ..................... (771) (64,554) -- ---- ---- ---- Net equity transactions ............. 46,191 -- -- ---- ---- ---- NET CHANGE IN CONTRACT OWNERS' EQUITY ...... 48,201 -- -- CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ................................ 15,151 -- -- ---- ---- ---- CONTRACT OWNERS' EQUITY END OF PERIOD ...... 63,352 -- -- ====== ===== ====== CHANGES IN UNITS: Beginning units ......................... 1,313 -- -- ---- ---- ---- Units purchased ......................... 13,347 -- -- Units redeemed .......................... (8,712) -- -- ---- ---- ---- Ending units ............................ 5,948 -- -- ====== ===== ======
40 NATIONWIDE VL SEPARATE ACCOUNT-C STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY, CONTINUED SIX MONTH PERIODS ENDED JUNE 30, 2002, 2001 AND 2000 (UNAUDITED)
STINTSTK2 DRYSRGRO ---------------------------------- --------------------------------------- 2002 2001 2000 2002 2001 2000 --------- --------- ---- --------- --------- --------- INVESTMENT ACTIVITY: Net investment income $ 5,158 (62) -- (790) (521) (635) Realized gain (loss) on investments 3,590 (11,910) -- (28,623) (63,948) 17,378 Change in unrealized gain (loss) on investments (29,341) (1,083) -- (44,305) 26,584 670 Reinvested capital gains -- 396 -- -- -- -- --------- --------- ---- --------- --------- --------- Net increase (decrease) in contract owners' equity resulting from operations (20,593) (12,659) -- (73,718) (37,885) 17,413 --------- --------- ---- --------- --------- --------- EQUITY TRANSACTIONS: Purchase payments received from contract owners 2,796 (1,809) -- 21,103 311,446 393,272 Transfer from Nationwide Variable Life Separate Account-A (note 1) -- 177,910 -- -- 211,705 -- Transfers between funds 25,770 (139,877) -- (64,601) (400,761) (24,981) Surrenders -- -- -- -- -- -- Death benefits -- -- -- (933) (1,081) -- Policy loans (net of repayments) (note 4) -- -- -- -- -- -- Deductions for surrender charges -- -- -- -- -- -- Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) (3,239) (12,437) -- (5,531) (5,246) (5,729) --------- --------- ---- --------- --------- --------- Net equity transactions 25,327 23,787 -- (49,962) 116,063 362,562 --------- --------- ---- --------- --------- --------- NET CHANGE IN CONTRACT OWNERS' EQUITY 4,734 11,128 -- (123,680) 78,178 379,975 CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD 277,268 -- -- 487,118 299,949 108,845 --------- --------- ---- --------- --------- --------- CONTRACT OWNERS' EQUITY END OF PERIOD $ 282,002 11,128 -- 363,438 378,127 488,820 ========= ========= ==== ========= ========= ========= CHANGES IN UNITS: Beginning units 38,838 -- -- 49,368 23,442 7,538 --------- --------- ---- --------- --------- --------- Units purchased 41,392 1,410 -- 27,477 16,513 28,526 Units redeemed (39,112) (2) -- (32,456) (5,477) (2,987) --------- --------- ---- --------- --------- --------- Ending units 41,118 1,408 -- 44,389 34,478 33,077 ========= ========= ==== ========= ========= =========
VEWRLDEMKT -------------------------------------- 2002 2001 2000 --------- --------- --------- INVESTMENT ACTIVITY: Net investment income (78) (1,259) (1,117) Realized gain (loss) on investments 6,249 (305,799) 76,977 Change in unrealized gain (loss) on investments 21,157 301,375 (140,409) Reinvested capital gains -- -- -- --------- --------- --------- Net increase (decrease) in contract owners' equity resulting from operations 27,328 (5,683) (64,549) --------- --------- --------- EQUITY TRANSACTIONS: Purchase payments received from contract owners 24,525 147,352 137,675 Transfer from Nationwide Variable Life Separate Account-A (note 1) -- 256,847 -- Transfers between funds (46,711) (659,757) 118,188 Surrenders -- -- -- Death benefits (503) -- -- Policy loans (net of repayments) (note 4) -- -- -- Deductions for surrender charges -- -- -- Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) (5,138) (8,531) (9,236) --------- --------- --------- Net equity transactions (27,827) (264,089) 246,627 --------- --------- --------- NET CHANGE IN CONTRACT OWNERS' EQUITY (499) (269,772) 182,078 CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD 401,193 912,010 482,197 --------- --------- --------- CONTRACT OWNERS' EQUITY END OF PERIOD 400,694 642,238 664,275 ========= ========= ========= CHANGES IN UNITS: Beginning units 56,168 124,869 38,228 --------- --------- --------- Units purchased 13,969 44,113 22,726 Units redeemed (17,544) (80,231) (708) --------- --------- --------- Ending units 52,593 88,751 60,246 ========= ========= =========
(Continued) 41 NATIONWIDE VL SEPARATE ACCOUNT-C STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY, CONTINUED SIX MONTH PERIODS ENDED JUNE 30, 2002, 2001 AND 2000 (UNAUDITED)
VEWRLDHAS VKEMMKT --------------------------------------- --------------------------------------- 2002 2001 2000 2002 2001 2000 --------- --------- --------- --------- --------- --------- INVESTMENT ACTIVITY: Net investment income $ 1,027 5,306 2,828 (264) (1,113) (476) Realized gain (loss) on investments (5,429) 33,381 12,544 329 9,712 (2,757) Change in unrealized gain (loss) on investments 14,151 (52,566) 11,597 (12,612) 18,371 31,192 Reinvested capital gains -- -- -- -- -- -- --------- --------- --------- --------- --------- --------- Net increase (decrease) in contract owners' equity resulting from operations 9,749 (13,879) 26,969 (12,547) 26,970 27,959 --------- --------- --------- --------- --------- --------- EQUITY TRANSACTIONS: Purchase payments received from contract owners 14,646 18,272 21,688 3,654 292 Transfer from Nationwide Variable Life Separate Account-A (note 1) -- 52,204 -- -- -- -- Transfers between funds (34,932) (110,427) 69,448 221,509 (239,402) 457,514 Surrenders -- -- -- -- -- -- Death benefits -- -- -- (1,362) (793) -- Policy loans (net of repayments) (note 4) -- -- -- -- -- -- Deductions for surrender charges -- -- -- -- -- -- Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) (1,735) (5,588) (4,727) (1,781) (6,859) (7,770) --------- --------- --------- --------- --------- --------- Net equity transactions (22,021) (45,539) 86,409 222,020 (246,762) 477,706 --------- --------- --------- --------- --------- --------- NET CHANGE IN CONTRACT OWNERS' EQUITY (12,272) (59,418) 113,378 209,473 (219,792) 505,665 CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD 149,001 514,935 315,168 66,339 620,755 61,956 --------- --------- --------- --------- --------- --------- CONTRACT OWNERS' EQUITY END OF PERIOD $ 136,729 455,517 428,546 275,812 400,963 567,621 ========= ========= ========= ========= ========= ========= CHANGES IN UNITS: Beginning units 18,257 56,278 38,220 6,255 64,183 7,107 --------- --------- --------- --------- --------- --------- Units purchased 5,507 14,660 12,491 20,312 -- 54,488 Units redeemed (8,411) (19,295) (605) (549) (24,536) (342) --------- --------- --------- --------- --------- --------- Ending units 15,353 51,643 50,106 26,018 39,647 61,253 ========= ========= ========= ========= ========= =========
VKMIDCAPG ---------------------------------- 2002 2001 2000 --------- --------- ---- INVESTMENT ACTIVITY: Net investment income (842) (6) -- Realized gain (loss) on investments (10,638) (269) -- Change in unrealized gain (loss) on investments (77,960) 1,021 -- Reinvested capital gains -- -- -- --------- --------- ---- Net increase (decrease) in contract owners' equity resulting from operations (89,440) 746 -- --------- --------- ---- EQUITY TRANSACTIONS: Purchase payments received from contract owners 27,962 9,922 3,017 Transfer from Nationwide Variable Life Separate Account-A (note 1) -- -- -- Transfers between funds 386,249 48,400 -- Surrenders -- -- -- Death benefits -- -- -- Policy loans (net of repayments) (note 4) -- -- -- Deductions for surrender charges -- -- -- Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) (6,607) (8) -- --------- --------- ---- Net equity transactions 389,564 51,409 -- --------- --------- ---- NET CHANGE IN CONTRACT OWNERS' EQUITY 300,124 52,155 -- CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD 170,441 -- -- --------- --------- ---- CONTRACT OWNERS' EQUITY END OF PERIOD 470,565 52,155 -- ========= ========= ==== CHANGES IN UNITS: Beginning units 27,935 -- -- --------- --------- ---- Units purchased 98,344 7,287 -- Units redeemed (31,546) -- -- --------- --------- ---- Ending units 94,733 7,287 -- ========= ========= ====
42 NATIONWIDE VL SEPARATE ACCOUNT-C STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY, CONTINUED SIX MONTH PERIODS ENDED JUNE 30, 2002, 2001 AND 2000 (UNAUDITED)
VKUSRealEst 2002 2001 2000 ----------- ----------- ----------- INVESTMENT ACTIVITY: Net investment income $ (3,649) (2,179) 21,689 Realized gain (loss) on investments 21,610 (1,968) 10,217 Change in unrealized gain (loss) on investments 159,543 122,673 15,670 Reinvested capital gains -- -- -- ----------- ----------- ----------- Net increase (decrease) in contract owners' equity resulting from operations 177,504 118,526 47,576 ----------- ----------- ----------- EQUITY TRANSACTIONS: Purchase payments received from contract owners 113,953 115,869 121,105 Transfer from Nationwide Variable Life Separate Account-A (note 1) -- 414,346 -- Transfers between funds 598,460 752,965 (288,128) Surrenders -- (70,683) -- Death benefits (10,116) (7,744) -- Policy loans (net of repayments) (note 4) -- (85,216) -- Deductions for surrender charges -- -- -- Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c) (28,516) (20,262) (6,795) ----------- ----------- ----------- Net equity transactions 673,781 1,099,275 (173,818) ----------- ----------- ----------- NET CHANGE IN CONTRACT OWNERS' EQUITY 851,285 1,217,801 (126,242) CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD 1,833,628 427,902 439,508 ----------- ----------- ----------- CONTRACT OWNERS' EQUITY END OF PERIOD $ 2,684,913 1,645,703 313,266 =========== =========== =========== CHANGES IN UNITS: Beginning units 152,921 39,041 51,147 ----------- ----------- ----------- Units purchased 67,914 100,565 13,655 Units redeemed (15,787) (403) (32,837) ----------- ----------- ----------- Ending units 205,048 139,203 31,965 =========== =========== ===========
See accompanying notes to financial statements. 43 NATIONWIDE VL SEPARATE ACCOUNT-C NOTES TO FINANCIAL STATEMENTS JUNE 30, 2002, 2001 AND 2000 (UNAUDITED) (1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (a) Organization and Nature of Operations The Nationwide VL Separate Account-C (the Account) was established pursuant to a resolution of the Board of Directors of Nationwide Life and Annuity Insurance Company (the Company) on December 3, 1997. The Account is registered as a unit investment trust under the Investment Company Act of 1940. On May 3, 1999, the Company (Depositor) transferred to the Account 100,000 shares of the Nationwide(R) SAT - Small Cap Growth Fund Class I for which the Account was credited with 100,000 units of the Nationwide(R) SAT - Small Cap Growth Fund Class I. The value of the units purchased by the Company on May 3, 1999 was $1,000,000. In February 2001, the Best of America(R) Corporate Variable Universal Life product assets totaling $116,421,610 in Nationwide VL Separate Account-A (Account A), were transferred to the Best of America(R) - America's Future Series(SM) in the Account. Both prior to and after the transfer the annuity unit values for each fund of Account A were exactly equivalent to the accumulation unit value for the corresponding fund values in the Account. Also, expenses deducted from the contract holder accounts in the Account are the same as or more favorable to the contract holders compared to the expenses previously incurred in Account A. The Company offers Corporate Flexible Premium Variable Life Insurance Policies through the Account. (b) The Contracts Only contracts with a front-end sales charge and certain other fees are offered for purchase. See note 2 for a discussion of policy charges, and note 3 for asset charges. Contract owners may invest in the following: Portfolios of the American Century Variable Portfolios, Inc. (American Century VP); American Century VP - American Century VP Balanced Fund - Class I (ACVPBal) American Century VP - American Century VP Capital Appreciation Fund - Class I (ACVPCapAp) American Century VP - American Century VP Income & Growth Fund - Class I (ACVPIncGr) American Century VP - American Century VP International Fund - Class I (ACVPInt) *American Century VP - American Century VP Ultra Fund - Class I (ACVPUlt) American Century VP - American Century VP Value Fund - Class I (ACVPVal) Comstock GVIT Value Fund - Class I (formerly Nationwide(R) SAT Federated Equity Income) (ComGVITVal) Portfolios of the Credit Suisse Trust; Credit Suisse Trust - Global Post-Venture Capital Portfolio (CSGPVen) Credit Suisse Trust - International Focus Portfolio (CSIntEq) Credit Suisse Trust - Large Cap Value Portfolio (CSLCapV) Credit Suisse Trust - Small Cap Growth Portfolio (CSSmCapGr) Portfolio of the Dreyfus GVIT (formerly Nationwide(R) SAT); Dreyfus GVIT Mid Cap Index Fund - Class I (DryMidCapIx) Portfolios of the Dreyfus Investment Portfolios (Dreyfus IP); Dreyfus IP - European Equity Portfolio (DryEuroEq) *Dreyfus IP - Small Cap Stock Index Portfolio - Service Class (DrySmCapIxS) Dreyfus Stock Index Fund (DryStkIx) 44 Portfolios of the Dreyfus Variable Investment Fund (Dreyfus VIF); Dreyfus VIF - Appreciation Portfolio (DryVIFApp) Dreyfus VIF - Growth and Income Portfolio (DryVIFGrInc) Federated GVIT (formerly Nationwide(R) SAT) High Income Bond Fund - Class I (FGVITHiInc) Portfolios of Federated Insurance Series (IS); Federated Quality Bond Fund II - Primary Shares (FedQualBd) Portfolios of the Fidelity(R) Variable Insurance Products (Fidelity(R) VIP); Fidelity(R) VIP - Equity-Income Portfolio: Initial Class (FidVIPEI) Fidelity(R) VIP - Equity-Income Portfolio: Service Class (FidVIPEIS) Fidelity(R) VIP - Growth Portfolio: Initial Class (FidVIPGr) Fidelity(R) VIP - Growth Portfolio: Service Class (FidVIPGrS) Fidelity(R) VIP - High Income Portfolio: Initial Class (FidVIPHI) Fidelity(R) VIP - High Income Portfolio: Service Class (FidVIPHIS) Fidelity(R) VIP - Overseas Portfolio: Initial Class (FidVIPOv) Fidelity(R) VIP - Overseas Portfolio: Service Class (FidVIPOvS) Portfolios of the Fidelity(R) Variable Insurance Products (Fidelity VIP II); Fidelity(R) VIP II - Asset Manager Portfolio: Initial Class (FidVIPAM) Fidelity(R) VIP II - Contrafund Portfolio: Initial Class (FidVIPCon) Fidelity(R) VIP II - Contrafund Portfolio: Service Class (FidVIPConS) Portfolios of the Fidelity(R) Variable Insurance Products (Fidelity VIP III); Fidelity(R) VIP III - Growth Opportunities Portfolio: Initial Class (FidVIPGrOp) Fidelity(R) VIP III - Growth Opportunities Portfolio: Service Class (FidVIPGrOpS) *Fidelity(R) VIP III - Value Strategies Portfolio: Service Class (FidVIPValStS) Funds of the Gartmore Variable Insurance Trust (Gartmore GVIT) (formerly Nationwide(R) SAT); *Gartmore GVIT Emerging Markets Fund - Class I (GVITEmMrkts) *Gartmore GVIT Global Financial Services Fund - Class I (GVITGlFin) *Gartmore GVIT Global Health Sciences Fund - Class I (GVITGlHlth) *Gartmore GVIT Global Technology and Communications Fund - Class I (GVITGlTech) *Gartmore GVIT Global Utilities Fund - Class I (GVITGlUtl) Gartmore GVIT Government Bond Fund - Class I (GVITGvtBd) Gartmore GVIT Growth Fund - Class I (formerly Nationwide(R) SAT Capital Appreciation Fund) (GVITGrowth) *Gartmore GVIT ID Aggressive Fund (GVITIDAgg) *Gartmore GVIT ID Conservative Fund (GVITIDCon) *Gartmore GVIT ID Moderate Fund (GVITIDMod) *Gartmore GVIT ID Moderately Aggressive Fund (GVITIDModAgg) *Gartmore GVIT ID Moderately Conservative Fund (GVITIDModCon) *Gartmore GVIT International Growth Fund - Class I (GVITIntGro) Gartmore GVIT Money Market Fund - Class I (GVITMyMkt) *Gartmore GVIT Nationwide(R) Leaders Fund - Class I (GVITLead) Gartmore GVIT Small Cap Growth Fund - Class I (GVITSmCapGr) Gartmore GVIT Small Cap Value Fund - Class I (GVITSmCapVal) Gartmore GVIT Small Company Fund - Class I (GVITSmComp) Gartmore GVIT Total Return Fund - Class I (GVITTotRt) *Gartmore GVIT U.S. Growth Leaders Fund - Class I (GVITUSGro) Gartmore GVIT Worldwide Leaders Fund - Class I (formerly Nationwide(R) SAT Global 50 Fund) (GVITWLead) J.P. Morgan GVIT (formerly Nationwide(R) SAT) Balanced Fund - Class I (JPMorBal) Portfolios of the Janus Aspen Series (Janus AS); Janus AS - Capital Appreciation Portfolio - Service Shares (JanCapAp) Janus AS - Global Technology Portfolio - Service Shares (JanGITech) Janus AS - International Growth Portfolio - Service Shares (JanIntGro) (Continued) 45 NATIONWIDE VL SEPARATE ACCOUNT-C NOTES TO FINANCIAL STATEMENTS, CONTINUED MAS GVIT (formerly Nationwide(R) SAT) Multi Sector Bond Fund - Class I (MGVITMultiSec) Nationwide(R) GVIT Strategic Value Fund - Class I (NWGVITStrVal) Portfolios of the Neuberger Berman Advisers Management Trust (Neuberger Berman AMT); Neuberger Berman AMT - Growth Portfolio (NBAMTGro) Neuberger Berman AMT - Guardian Portfolio (NBAMTGuard) Neuberger Berman AMT - Limited Maturity Bond Portfolio (NBAMTLMat) Neuberger Berman AMT - Mid Cap Growth Portfolio (NBAMTMCGr) Neuberger Berman AMT - Partners Portfolio (NBAMTPart) Funds of the Oppenheimer Variable Account Funds; Oppenheimer Aggressive Growth Fund/VA - Initial Class (OppAggGro) Oppenheimer Bond Fund/VA - Initial Class (OppBdFd) Oppenheimer Capital Appreciation Fund/VA - Initial Class (OppCapAp) Oppenheimer Global Securities Fund/VA - Initial Class (OppGlSec) Oppenheimer Main Street Growth & Income Fund/VA - Initial Class (OppMSGrInc) Oppenheimer Multiple Strategies Fund/VA - Initial Class (OppMultStr) Strong GVIT (formerly Nationwide(R) SAT) Mid Cap Growth Fund - Class I (SGVITMdCpGr) Strong Opportunity Fund II, Inc. (StOpp2) Funds of the Strong Variable Insurance Funds, Inc. (Stong VIF); Strong VIF - Strong Discovery Fund II (StDisc2) Strong VIF - International Stock Fund II (StIntStk2) The Dreyfus Socially Responsible Growth Fund, Inc. (DrySRGro) *Turner GVIT (Formerly Nationwide(R) SAT) Growth Focus Fund - Class I (TurnGVITGro) Funds of the Van Eck Worldwide Insurance Trust (Van Eck WIT); *Van Eck WIT - Worldwide Bond Fund Van Eck WIT - Worldwide Emerging Markets Fund (VEWrldEMkt) Van Eck WIT - Worldwide Hard Assets Fund (VEWrldHAs) Funds of the Van Kampen Universal Institutional Funds (Van Kampen UIF); Van Kampen UIF - Emerging Markets Debt Portfolio (VKEmMkt) Van Kampen UIF - Mid Cap Growth Portfolio (VKMidCapG) Van Kampen UIF - U.S. Real Estate Portfolio (VKUSRealEst) At June 30, 2002, contract owners have invested in all of the above funds except for those indicated with an asterisk (*). The contract owners' equity is affected by the investment results of each fund, equity transactions by contract owners and certain contract expenses (see notes 2 and 3). The accompanying financial statements include only contract owners' purchase payments pertaining to the variable portions of their contracts and exclude any purchase payments for fixed dollar benefits, the latter being included in the accounts of the Company. A contract owner may choose from among a number of different underlying mutual fund options. The underlying mutual fund options are not available to the general public directly. The underlying mutual funds are available as investment options in variable life insurance policies or variable annuity contracts issued by life insurance companies or, in some cases, through participation in certain qualified pension or retirement plans. 46 Some of the underlying mutual funds have been established by investment advisers which manage publicly traded mutual funds having similar names and investment objectives. While some of the underlying mutual funds may be similar to, and may in fact be modeled after, publicly traded mutual funds, the underlying mutual funds are not otherwise directly related to any publicly traded mutual fund. Consequently, the investment performance of publicly traded mutual funds and any corresponding underlying mutual funds may differ substantially. (c) Security Valuation, Transactions and Related Investment Income The fair value of the underlying mutual funds is based on the closing net asset value per share at June 30, 2002. The cost of investments sold is determined on the specific identification basis. Investment transactions are accounted for on the trade date (date the order to buy or sell is executed) and dividend income is recorded on the ex-dividend date. (d) Federal Income Taxes Operations of the Account form a part of, and are taxed with, operations of the Company which is taxed as a life insurance company under the Internal Revenue Code. The Company does not provide for income taxes within the Account. Taxes are the responsibility of the contract owner upon termination or withdrawal. (e) Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities, if any, at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. (2) POLICY CHARGES (a) Deductions from Premium The Company deducts a charge for state premium taxes of 3.5% on all premiums received to cover the payment of premium taxes. Additionally, the Company deducts a front-end sales load not to exceed 5.5% from each premium payment received. The Company may at its sole discretion reduce this sales loading. (b) Cost of Insurance A cost of insurance charge is assessed monthly against each contract by liquidating units. The amount of the charge is based upon age, sex, rate class and net amount at risk (death benefit less total contract value). (c) Administrative Charges The Company deducts a monthly administrative expense charge to recover policy maintenance, accounting, record keeping and other administrative expenses and it is assessed against each contract by liquidating units. Currently, this charge is $5.00 per month in all policy years (not to exceed $10.00 per month). (3) ASSET CHARGES For corporate flexible premium contracts, the Company deducts a charge from the contract to cover mortality and expense risk charges related to operations. This charge is guaranteed not to exceed an annual rate of .75%. Currently, this rate is .40% during the first through fourth policy years, .25% during the fifth through twentieth policy years, and .10% thereafter. For the reduced fee tier, the current rate for corporate flexible premium contracts is either .10% or .25% for all policy years. Nationwide may reduce or eliminate certain charges, where the size or nature of the group results in savings in sales, underwriting, administrative or other costs, to Nationwide. These charges may be reduced in certain group, sponsored arrangements or special exchange programs made available by Nationwide. (Continued) 47 NATIONWIDE VL SEPARATE ACCOUNT-C NOTES TO FINANCIAL STATEMENTS, CONTINUED (4) POLICY LOANS (NET OF REPAYMENTS) Contract provisions allow contract owners to borrow 90% of a policy's cash surrender value. Interest is charged on the outstanding loan and is due and payable in advance on the policy anniversary. At the time the loan is granted, the amount of the loan is transferred from the Account to the Company's general account as collateral for the outstanding loan. Collateral amounts in the general account are credited with the stated rate of interest in effect at the time the loan is made, subject to a guaranteed minimum rate. Interest credited is paid by the Company's general account to the Account. Loan repayments result in a transfer of collateral including interest back to the Account. (5) RELATED PARTY TRANSACTIONS The Company performs various services on behalf of the Mutual Fund Companies in which the Account invests and may receive fees for the services performed. These services include, among other things, shareholder communications, preparation, postage, fund transfer agency and various other record keeping and customer service functions. These fees are paid to an affiliate of the Company. 48 (6) FINANCIAL HIGHLIGHTS The following is a summary of units, unit fair values and contract owners' equity outstanding for variable life and annuity contracts as of the end of the six-month period indicated, and the contract expense rate, investment income ratio and total return for each year in the four year period ended June 30, 2002.
CONTRACT INVESTMENT EXPENSE UNIT CONTRACT INCOME TOTAL RATE* UNITS FAIR VALUE OWNERS' EQUITY RATIO** RETURN*** ----- ----- ---------- -------------- --------- --------- The BEST of AMERICA(R) America's FUTURE Life Series(SM) - Reduced Fee Tier - (0.10%) American Century Variable Portfolios, Inc. - American Century VP Income & Growth Fund - Class I 2002 0.10% 409,339 $ 8.442333 $ 3,455,776 0.83% -0.10% 2001 0.10% 237,289 9.888619 2,346,461 0.70% -3.86% 2000 0.10% 290,354 11.101352 3,223,322 0.49% -3.62% 1999 0.10% 139,253 10.717821 1,492,489 0.01% 7.18% 04/01/99 American Century Variable Portfolios, Inc. - American Century VP International Fund - Class I 2002 0.10% 97,378 8.977297 874,191 0.70% -0.05% 2001 0.10% 88,927 10.606504 943,205 0.08% -20.19% 2000 0.10% 61,417 15.024102 922,735 0.10% -6.06% 1999 0.10% 14,498 10.471172 151,811 0.00% 4.71% 04/01/99 Dreyfus Stock Index Fund 2002 0.10% 618,530 7.872437 4,869,338 0.58% -0.13% 2001 0.10% 290,238 9.644728 2,799,267 0.49% -6.88% 2000 0.10% 325,655 11.359939 3,699,421 0.49% -0.60% 1999 0.10% 276,031 10.631744 2,934,691 0.70% 6.32% 04/01/99 Fidelity(R) VIP - Equity-Income Portfolio: Service Class 2002 0.10% 20,350 9.995107 203,400 1.39% -0.06% Fidelity(R) VIP - Growth Portfolio: Service Class 2002 0.10% 978,641 7.394071 7,236,141 0.12% -0.19% 2001 0.10% 730,098 10.067935 7,350,579 0.00% -9.71% 2000 0.10% 501,080 13.179722 6,604,095 0.06% 5.01% 1999 0.10% 165,208 10.460406 1,728,143 0.08% 4.60% 04/01/99 Gartmore GVIT Government Bond Fund - Class I 2002 0.10% 213,726 12.407025 2,651,704 2.38% 0.04% 2001 0.10% 698,203 11.384642 7,948,791 2.74% 2.38% 2000 0.10% 739,786 10.284568 7,608,379 3.07% 3.98% 1999 0.10% 65,024 9.913287 644,602 3.72% -0.87% 04/01/99 Gartmore GVIT Money Market Fund - Class I 2002 0.10% 1,209,527 11.419584 13,812,295 0.62% 0.01% 2001 0.10% 473,416 11.219674 5,311,573 2.06% 2.26% 2000 0.10% 197,921 10.644566 2,106,783 2.83% 2.77% Janus Aspen Series - International Growth Portfolio - Service Shares 2002 0.10% 19,275 5.551206 106,999 0.38% -0.12% 2001 0.10% 19,406 6.978600 135,427 0.60% -15.57% 2000 0.10% 19,438 10.134840 197,001 0.00% 1.35% 04/01/99 MAS GVIT Multi Sector Bond Fund - Class I 2002 0.10% 3,610 11.395901 41,139 2.94% 0.02% 2001 0.10% 4,115 10.809424 44,481 2.38% 0.71% 2000 0.10% 5,259 10.416467 54,780 4.48% 2.44% 1999 0.10% 4,095 9.908985 40,577 3.13% -0.91% 04/01/99
(Continued) 49 NATIONWIDE VL SEPARATE ACCOUNT-C NOTES TO FINANCIAL STATEMENTS, CONTINUED
CONTRACT INVESTMENT EXPENSE UNIT CONTRACT INCOME TOTAL RATE* UNITS FAIR VALUE OWNERS' EQUITY RATIO** RETURN*** -------- ----- ---------- -------------- ---------- --------- Neuberger Berman Advisers Management Trust - Guardian Portfolio 2002 0.10% 84,059 9.671959 813,015 0.61% -0.11% 2001 0.10% 82,979 11.243700 932,991 0.31% 1.54% 2000 0.10% 32,870 11.364157 373,540 0.56% 3.68% 1999 0.10% 6,842 11.187560 76,545 0.43% 11.88% 04/01/99 Oppenheimer Aggressive Growth Fund/VA - Initial Class 2002 0.10% 297,645 8.363264 2,489,284 0.62% -0.17% 2001 0.10% 315,303 10.744305 3,387,712 0.85% -27.03% 2000 0.10% 69,127 20.117568 1,390,667 0.00% 21.15% 1999 0.10% 3,344 10.950258 36,618 0.00% 9.50% 04/01/99 Oppenheimer Capital Appreciation Fund/VA - Initial Class 2002 0.10% 278,140 9.302517 2,587,402 0.53% -0.19% 2001 0.10% 229,855 12.537813 2,881,879 0.56% -4.93% 2000 0.10% 119,850 14.470324 1,734,268 0.11% 9.36% 1999 0.10% 55,741 10.823581 603,317 0.03% 8.24% 04/01/99 The BEST of AMERICA(R) America's FUTURE Life Series(SM) - Reduced Fee Tier - (0.25%) American Century Variable Portfolios, Inc. - American Century VP Balanced Fund - Class I 2002 0.25% 55,974 9.172281 513,409 2.58% -0.06% American Century Variable Portfolios, Inc. - American Century VP Capital Appreciation Fund - Class I 2002 0.25% 46,762 10.372518 485,040 0.00% -0.10% American Century Variable Portfolios, Inc. - American Century VP Income & Growth Fund - Class I 2002 0.25% 59,818 9.372064 560,618 0.83% -0.10% American Century Variable Portfolios, Inc. - American Century VP International Fund - Class I 2002 0.25% 376,754 8.947668 3,371,070 0.70% -0.05% American Century Variable Portfolios, Inc.- American Century VP Value Fund - Class I 2002 0.25% 447,748 11.812786 5,289,151 0.79% -0.04% Comstock GVIT Value Fund - Class I 2002 0.25% 281 8.385093 2,356 0.58% -0.14% Credit Suisse Trust - Global Post-Venture Capital Portfolio 2002 0.25% 20,931 7.308922 152,983 0.00% -0.14% Credit Suisse Trust - International Focus Portfolio 2002 0.25% 5,673 7.679044 43,563 0.00% -0.02% Credit Suisse Trust - Small Cap Growth Portfolio 2002 0.25% 76,127 7.046569 536,434 0.00% -0.22% Dreyfus GVIT Mid Cap Index Fund - Class I 2002 0.25% 30,958 12.903316 399,461 0.13% -0.04% Dreyfus Stock Index Fund 2002 0.25% 1,022,355 9.115574 9,319,353 0.58% -0.13% Dreyfus Variable Investment Fund - Appreciation Portfolio 2002 0.25% 351,689 10.032551 3,528,338 0.01% -0.09% Dreyfus Variable Investment Fund - Growth and Income Portfolio 2002 0.25% 72,044 8.118785 584,910 0.25% -0.15% Federated GVIT High Income Bond Fund - Class I 2002 0.25% 65 9.807586 637 3.60% 0.00%
50
CONTRACT INVESTMENT EXPENSE UNIT CONTRACT INCOME TOTAL RATE* UNITS FAIR VALUE OWNERS' EQUITY RATIO** RETURN*** ----- ----- ---------- -------------- ---------- --------- Federated Insurance Series - Federated Quality Bond Fund II - Primary Shares 2002 0.25% 36,425 11.983528 436,500 3.44% 0.02% Fidelity(R) VIP - Equity-Income Portfolio: Initial Class 2002 0.25% 28,810 8.992271 259,067 1.21% -0.06% Fidelity(R) VIP - Growth Portfolio: Initial Class 2002 0.25% 739,360 6.910052 5,109,016 0.23% -0.19% Fidelity(R) VIP - High Income Portfolio: Initial Class 2002 0.25% 150,183 8.416894 1,264,074 10.05% -0.05% Fidelity(R) VIP - Overseas Portfolio: Initial Class 2002 0.25% 78,443 7.693104 603,470 0.69% -0.03% Fidelity(R) VIP II - Asset Manager Portfolio: Initial Class 2002 0.25% 296,549 8.905987 2,641,062 3.94% -0.08% Fidelity(R) VIP II - Contrafund Portfolio: Initial Class 2002 0.25% 88,130 8.961372 789,766 0.77% -0.01% Fidelity(R) VIP III - Growth Opportunities Portfolio: Initial Class 2002 0.25% 88,361 7.674696 678,144 1.18% -0.13% Gartmore GVIT Government Bond Fund - Class I 2002 0.25% 1,045,833 12.994696 13,590,282 2.38% 0.04% Gartmore GVIT Growth Fund - Class I 2002 0.25% 88,586 5.064994 448,688 0.00% -0.17% Gartmore GVIT Money Market Fund - Class I 2002 0.25% 1,570,175 11.866880 18,633,078 0.62% 0.00% Gartmore GVIT Small Cap Growth Fund - Class I 2002 0.25% 3,982 12.242434 48,749 0.00% -0.20% Gartmore GVIT Small Cap Value Fund - Class I 2002 0.25% 284,921 13.609612 3,877,664 0.00% -0.12% Gartmore GVIT Small Company Fund - Class I 2002 0.25% 182,028 12.578578 2,289,653 0.00% -0.04% Gartmore GVIT Worldwide Leaders Fund - Class I 2002 0.25% 123,266 8.497670 1,047,474 1.08% -0.06% J.P. Morgan GVIT Balanced Fund - Class I 2002 0.25% 21,560 8.799968 189,727 0.97% -0.09% Janus Aspen Series - Capital Appreciation Portfolio - Service Shares 2002 0.25% 67,028 5.948483 398,715 0.21% -0.07% Janus Aspen Series - Global Technology Portfolio - Service Shares 2002 0.25% 353 2.884942 1,018 0.00% -0.30% Janus Aspen Series - International Growth Portfolio - Service Shares 2002 0.25% 43,283 5.531085 239,402 0.38% -0.12% MAS GVIT Multi Sector Bond Fund - Class I 2002 0.25% 11,807 11.311841 133,559 2.94% 0.02% Neuberger Berman Advisers Management Trust - Growth Portfolio 2002 0.25% 68,945 6.107016 421,048 0.00% -0.20%
(Continued) 51 NATIONWIDE VL SEPARATE ACCOUNT-C NOTES TO FINANCIAL STATEMENTS, CONTINUED
CONTRACT INVESTMENT EXPENSE UNIT CONTRACT INCOME TOTAL RATE* UNITS FAIR VALUE OWNERS' EQUITY RATIO** RETURN*** ----- ----- ---------- -------------- --------- --------- Neuberger Berman Advisers Management Trust - Limited Maturity Bond Portfolio 2002 0.25% 257,748 11.011137 2,838,099 4.74% 0.02% Neuberger Berman Advisers Management Trust - Mid-Cap Growth Portfolio 2002 0.25% 999 9.962935 9,953 0.00% -0.17% Neuberger Berman Advisers Management Trust - Partners Portfolio 2002 0.25% 571,969 8.777144 5,020,254 0.45% -0.10% Oppenheimer Aggressive Growth Fund/VA - Initial Class 2002 0.25% 1,142 8.909823 10,175 0.62% -0.17% Oppenheimer Bond Fund/VA - Initial Class 2002 0.25% 98,224 10.906272 1,071,258 6.72% 0.02% Oppenheimer Capital Appreciation Fund/VA - Initial Class 2002 0.25% 246,944 10.560570 2,607,869 0.53% -0.19% Oppenheimer Global Securities Fund/VA - Initial Class 2002 0.25% 149,990 7.794695 1,169,126 0.42% -0.07% Oppenheimer Multiple Strategies Fund/VA - Initial Class 2002 0.25% 49,160 9.540542 469,013 3.01% -0.07% Strong GVIT Mid Cap Growth Fund - Class I 2002 0.25% 34,358 8.676863 298,120 0.00% -0.24% Strong Opportunity Fund II, Inc. 2002 0.25% 655,340 8.025092 5,259,164 0.00% -0.15% Strong Variable Insurance Funds, Inc. - Strong Discovery Fund II 2002 0.25% 3,683 10.441164 38,455 0.00% -0.05% Strong Variable Insurance Funds, Inc. - Strong International Stock Fund II 2002 0.25% 24,915 6.959785 173,403 2.04% -0.06% The Dreyfus Socially Responsible Growth Fund, Inc. 2002 0.25% 23,266 8.211877 191,058 0.01% -0.17% Van Eck Worldwide Insurance Trust - Worldwide Emerging Markets Fund 2002 0.25% 4,144 7.662741 31,754 0.17% 0.07% Van Kampen - The Universal Institutional Funds, Inc. - Emerging Markets Debt Portfolio 2002 0.25% 237 10.666570 2,528 0.00% 0.00% Van Kampen - The Universal Institutional Funds, Inc. - Mid Cap Growth Portfolio 2002 0.25% 5,495 4.982477 27,379 0.00% -0.19% Van Kampen - The Universal Institutional Funds, Inc. - U.S. Real Estate Portfolio 2002 0.25% 40,208 12.596496 506,480 0.00% 0.10% The BEST of AMERICA(R) America's FUTURE Life Series(SM) American Century Variable Portfolios, Inc. - American Century VP Balanced Fund - Class I 2002 0.40% 7,771 9.151869 71,119 2.58% -0.06% 2001 0.40% 43,274 9.981918 431,958 2.55% -0.18% 01/02/01 American Century Variable Portfolios, Inc. - American Century VP Capital Appreciation Fund - Class I 2002 0.40% 31,849 9.857168 313,941 0.00% -0.10% 2001 0.40% 85,085 13.127018 1,116,912 0.00% -7.88%
52
CONTRACT INVESTMENT EXPENSE UNIT CONTRACT INCOME TOTAL RATE* UNITS FAIR VALUE OWNERS' EQUITY RATIO** RETURN*** ----- ----- ---------- -------------- --------- --------- American Century Variable Portfolios, Inc. - American Century VP Income & Growth Fund - Class I 2002 0.40% 499,490 9.313777 4,652,138 0.83% -0.10% 2001 0.40% 422,654 10.942107 4,624,725 0.70% -4.00% 2000 0.40% 346,363 12.320813 4,267,474 0.49% -3.77% 1999 0.40% 196,203 11.930918 2,340,882 0.01% 9.54% American Century Variable Portfolios, Inc. - American Century VP International Fund - Class I 2002 0.40% 1,811,187 8.892011 16,105,095 0.70% -0.05% 2001 0.40% 1,371,840 10.537256 14,455,429 0.70% -20.31% 2000 0.40% 343,607 14.970741 5,144,051 0.10% -6.20% 1999 0.40% 156,839 10.465323 1,641,371 0.00% 7.14% American Century Variable Portfolios, Inc. - American Century VP Value Fund - Class I 2002 0.40% 328,230 11.739323 3,853,198 0.79% -0.04% 2001 0.40% 558,169 11.655930 6,505,979 1.30% 7.00% 2000 0.40% 78,422 8.869662 695,577 0.11% -4.19% 1999 0.40% 17,739 10.585835 187,782 0.98% 12.92% Comstock GVIT Value Fund - Class I 2002 0.40% 28,066 8.332926 233,872 0.58% -0.14% 2001 0.40% 1,340,003 10.123978 13,566,161 1.49% -8.93% 2000 0.40% 22,568 12.681211 286,190 0.44% 1.55% 1999 0.40% 20,366 11.620929 236,672 0.24% 9.82% Credit Suisse Trust - Global Post-Venture Capital Portfolio 2002 0.40% 52,132 7.263419 378,657 0.00% -0.14% 2001 0.40% 82,456 9.563256 788,548 0.00% -19.76% 2000 0.40% 62,643 15.467356 968,922 0.00% 4.78% 1999 0.40% 25,421 10.199319 259,277 0.00% 12.51% Credit Suisse Trust - International Focus Portfolio 2002 0.40% 17,098 7.631249 130,479 0.00% -0.02% 2001 0.40% 31,301 8.417725 263,483 0.00% -16.10% 2000 0.40% 29,432 12.380758 364,390 0.00% -8.92% 1999 0.40% 38,500 9.491713 365,431 0.00% 6.70% Credit Suisse Trust - Large Cap Value Portfolio 2002 0.40% 25,339 10.342464 262,068 0.00% -0.10% 2001 0.40% 15,745 11.765980 185,255 0.00% 3.10% 2000 0.40% 22,920 10.242976 234,769 0.00% -2.63% 1999 0.40% 16,980 11.434266 194,154 0.00% 15.02% Credit Suisse Trust - Small Cap Growth Portfolio 2002 0.40% 143,362 7.030850 1,007,957 0.00% -0.22% 2001 0.40% 589,337 9.279055 5,468,490 0.00% -7.21% Dreyfus GVIT Mid Cap Index Fund - Class I 2002 0.40% 70,805 12.823029 907,935 0.13% -0.04% 2001 0.40% 150,898 13.635218 2,057,527 0.30% 0.46% 2000 0.40% 81,246 12.775205 1,037,934 0.35% 8.00% 1999 0.40% 67 10.856013 727 0.07% 10.54% Dreyfus Investment Portfolios - European Equity Portfolio 2002 0.40% 11,287 8.283327 93,494 0.00% -0.08% 2000 0.40% 2,148 13.207837 28,370 0.00% 2.25% Dreyfus Stock Index Fund 2002 0.40% 2,789,230 9.058868 25,267,266 0.58% -0.13% 2001 0.40% 4,213,282 11.131574 46,900,460 0.49% -7.02% 2000 0.40% 2,694,550 13.150463 35,434,580 0.49% -0.75% 1999 0.40% 1,715,617 12.344504 21,178,441 0.70% 11.92%
(Continued) 53 NATIONWIDE VL SEPARATE ACCOUNT-C NOTES TO FINANCIAL STATEMENTS, CONTINUED
CONTRACT INVESTMENT EXPENSE UNIT CONTRACT INCOME TOTAL RATE* UNITS FAIR VALUE OWNERS' EQUITY RATIO** RETURN*** ----- ----- ---------- -------------- --------- --------- Dreyfus Variable Investment Fund - Appreciation Portfolio 2002 0.40% 416,774 9.970158 4,155,303 0.01% -0.09% 2001 0.40% 1,253,544 11.330924 14,203,812 0.01% -6.44% 2000 0.40% 195,232 12.555931 2,451,320 0.01% 2.59% 1999 0.40% 93,377 11.830098 1,104,659 0.01% 7.30% Dreyfus Variable Investment Fund - Growth and Income Portfolio 2002 0.40% 12,379 8.100688 100,278 0.25% -0.15% 2001 0.40% 84,805 10.176558 863,023 0.22% 1.77% 01/02/01 Federated GVIT High Income Bond Fund - Class I 2002 0.40% 93,553 9.746587 911,822 3.60% 0.00% 2001 0.40% 260,400 9.627057 2,506,886 5.38% 2.02% 2000 0.40% 142,533 10.153681 1,447,235 6.93% -1.69% 1999 0.40% 33,475 10.304749 344,951 4.66% 2.54% Federated Insurance Series - Federated Quality Bond Fund II - Primary Shares 2002 0.40% 163,215 11.926987 1,946,663 3.44% 0.02% 2001 0.40% 29,019 11.206725 325,208 2.23% 3.49% 2000 0.40% 44,144 10.131263 447,234 0.12% 2.93% Fidelity(R) VIP - Equity-Income Portfolio: Initial Class 2002 0.40% 12,131 8.972235 108,842 1.21% -0.06% 2001 0.40% 217,462 10.008041 2,176,369 0.00% 0.08% 01/02/01 Fidelity(R) VIP - Equity-Income Portfolio: Service Class 2002 0.40% 547,314 10.011730 5,479,560 1.39% -0.06% 2001 0.40% 338,435 11.176442 3,782,499 1.56% -1.18% 2000 0.40% 236,987 10.174924 2,411,325 0.64% -2.95% 1999 0.40% 25,566 11.140410 284,816 0.14% 12.45% Fidelity(R) VIP - Growth Portfolio: Initial Class 2002 0.40% 39,133 6.894645 269,808 0.23% -0.19% 2001 0.40% 664,286 9.406607 6,248,677 0.00% -5.93% Fidelity(R) VIP - Growth Portfolio: Service Class 2002 0.40% 917,879 9.633660 8,842,534 0.12% -0.19% 2001 0.40% 1,017,754 13.156825 13,390,411 0.00% -9.85% 2000 0.40% 910,558 17.274959 15,729,852 0.06% 4.85% 1999 0.40% 361,035 13.751919 4,964,924 0.08% 14.14% Fidelity(R) VIP - High Income Portfolio: Initial Class 2002 0.40% 33,637 8.398164 282,489 10.05% -0.05% 2001 0.40% 154,664 9.274521 1,434,435 0.00% -7.25% 01/02/01 Fidelity(R) VIP - High Income Portfolio: Service Class 2002 0.40% 430,852 6.262835 2,698,355 7.90% -0.04% 2001 0.40% 189,231 6.918521 1,309,199 18.11% -7.38% 2000 0.40% 235,156 9.193344 2,161,870 6.69% -5.14% 1999 0.40% 239,446 9.693786 2,321,138 4.97% 7.67% Fidelity(R) VIP - Overseas Portfolio: Initial Class 2002 0.40% 73,686 7.675970 565,612 0.69% -0.03% 2001 0.40% 352,460 8.877278 3,128,885 0.00% -11.23% 01/02/01 Fidelity(R) VIP - Overseas Portfolio: Service Class 2002 0.40% 485,878 8.289411 4,027,642 0.65% -0.03% 2001 0.40% 486,273 9.597940 4,667,219 4.11% -11.66% 2000 0.40% 291,200 12.785880 3,723,248 0.77% -5.23% 1999 0.40% 83,286 10.254973 854,096 1.36% 7.86%
54
CONTRACT INVESTMENT EXPENSE UNIT CONTRACT INCOME TOTAL RATE* UNITS FAIR VALUE OWNERS' EQUITY RATIO** RETURN*** ----- ----- ---------- -------------- --------- --------- Fidelity(R) VIP II - Asset Manager Portfolio: Initial Class 2002 0.40% 194,064 8.886166 1,724,485 3.94% -0.09% 2001 0.40% 976,093 9.790330 9,556,273 0.00% -2.10% 01/02/01 Fidelity(R) VIP II - Contrafund Portfolio: Initial Class 2002 0.40% 24,756 8.941408 221,353 0.77% -0.01% 2001 0.40% 128,202 9.286377 1,190,532 0.00% -7.14% 01/02/01 Fidelity(R) VIP II - Contrafund Portfolio: Service Class 2002 0.40% 535,531 11.253109 6,026,389 0.70% -0.01% 2001 0.40% 465,633 11.700382 5,448,084 0.64% -10.18% 2000 0.40% 416,155 13.802556 5,744,003 0.29% -1.55% 1999 0.40% 220,534 12.580736 2,774,480 0.37% 10.96% Fidelity(R) VIP III - Growth Opportunities Portfolio: Initial Class 2001 0.40% 100,427 9.446605 948,694 0.00% -5.53% 01/02/01 Fidelity(R) VIP III - Growth Opportunities Portfolio: Service Class 2002 0.40% 137,556 7.099131 976,528 0.86% -0.13% 2001 0.40% 266,141 8.765663 2,332,902 0.26% -8.96% 2000 0.40% 197,046 11.216967 2,210,258 1.25% -3.89% 1999 0.40% 124,317 11.947796 1,485,314 0.36% 6.22% Gartmore GVIT Government Bond Fund - Class I 2002 0.40% 3,469,068 12.913882 44,799,135 2.38% 0.04% 2001 0.40% 2,250,748 11.885230 26,750,658 2.74% 2.23% 2000 0.40% 814,693 10.768906 8,773,352 3.07% 3.82% 1999 0.40% 451,382 10.411381 4,699,510 3.72% -2.37% Gartmore GVIT Growth Fund - Class I 2002 0.40% 292,358 5.033462 1,471,573 0.00% -0.17% 2001 0.40% 355,826 6.678422 2,376,356 0.00% -21.48% 2000 0.40% 214,512 11.687690 2,507,150 0.18% 0.56% 1999 0.40% 123,800 12.501259 1,547,656 0.33% 11.71% Gartmore GVIT Money Market Fund - Class I 2002 0.40% 5,688,729 11.792796 67,086,021 0.62% 0.00% 2001 0.40% 7,579,943 11.621155 88,087,692 2.06% 2.11% 2000 0.40% 2,043,769 11.058539 22,601,099 2.83% 2.61% 1999 0.40% 651,223 10.535947 6,861,251 2.11% 2.09% Gartmore GVIT Small Cap Growth Fund - Class I 2002 0.40% 64,740 12.184600 788,831 0.00% -0.20% 2001 0.40% 65,720 16.178351 1,063,241 0.00% -5.24% Initial Funding by Depositor (see note 1a) 100,000 16.318510 1,631,851 0.00% -5.05% 2000 0.40% 43,778 21.463633 939,635 0.00% 4.97% Initial Funding by Depositor (see note 1a) 100,000 21.463633 2,146,363 0.00% 4.97% Gartmore GVIT Small Cap Value Fund - Class I 2002 0.40% 266,710 13.524923 3,607,232 0.00% -0.13% 2001 0.40% 545,790 15.824999 8,637,126 0.00% 30.77% 2000 0.40% 105,726 12.104291 1,279,738 0.00% 10.79% 1999 0.40% 136,263 10.590528 1,443,097 0.00% 23.42% Gartmore GVIT Small Company Fund - Class I 2002 0.40% 555,210 12.500340 6,940,314 0.00% -0.05% 2001 0.40% 808,665 13.873709 11,219,183 0.10% -1.54% 2000 0.40% 325,780 13.954146 4,545,982 0.03% 7.41% 1999 0.40% 127,081 9.727700 1,236,206 0.00% 7.41%
(Continued) 55 NATIONWIDE VL SEPARATE ACCOUNT-C NOTES TO FINANCIAL STATEMENTS, CONTINUED
CONTRACT INVESTMENT EXPENSE UNIT CONTRACT INCOME TOTAL RATE* UNITS FAIR VALUE OWNERS' EQUITY RATIO** RETURN*** ----- ----- ---------- -------------- --------- --------- Gartmore GVIT Total Return Fund - Class I 2002 0.40% 218,302 8.682331 1,895,370 0.31% -0.06% 2001 0.40% 25,351 9.683519 245,487 0.48% -8.07% 2000 0.40% 16,643 11.146280 185,508 0.29% 3.16% 1999 0.40% 2,869 11.212270 32,168 0.15% 10.53% Gartmore GVIT Worldwide Leaders Fund - Class I 2002 0.40% 3,893 8.444777 32,876 1.08% -0.06% 2001 0.40% 93,015 9.486334 882,371 1.05% -14.48% 2000 0.40% 67,747 12.596704 853,389 0.73% -0.83% 1999 0.40% 33,140 11.249540 372,810 0.59% 8.43% J.P. Morgan GVIT Balanced Fund - Class I 2002 0.40% 156,440 8.745233 1,368,104 0.97% -0.09% 2001 0.40% 233,951 9.796636 2,291,933 1.30% -1.85% 2000 0.40% 94,375 10.305507 972,582 1.58% 2.48% 1999 0.40% 82,244 10.584906 870,545 2.30% 5.75% Janus Aspen Series - Capital Appreciation Portfolio - Service Shares 2002 0.40% 358,190 5.926919 2,122,963 0.21% -0.07% 2001 0.40% 44,611 7.075945 315,665 1.09% -13.77% Janus Aspen Series - Global Technology Portfolio - Service Shares 2002 0.40% 322,731 2.874473 927,682 0.00% -0.30% 2001 0.40% 232,759 4.846864 1,128,151 0.63% -26.09% 2000 0.40% 32,762 9.793559 320,857 0.00% -2.06% 01/27/00 Janus Aspen Series - International Growth Portfolio - Service Shares 2002 0.40% 140,401 5.511040 773,756 0.38% -0.12% 2001 0.40% 85,995 6.948904 597,571 0.60% -15.70% 2000 0.40% 4,914 10.121953 49,739 0.00% 1.22% 01/27/00 MAS GVIT Multi Sector Bond Fund - Class I 2002 0.40% 114,124 11.241499 1,282,925 2.94% 0.02% 2001 0.40% 139,140 10.694913 1,488,090 2.38% 0.56% 2000 0.40% 243,286 10.336948 2,514,835 4.48% 2.28% 1999 0.40% 36,005 9.862916 355,114 3.13% -1.28% Nationwide GVIT Strategic Value Fund - Class I 2002 0.40% 60,527 7.711336 466,744 0.00% -0.15% 2001 0.40% 56,474 9.340562 527,499 0.38% -0.66% 2000 0.40% 12,984 8.642631 112,216 0.16% -1.48% 1999 0.40% 26,211 9.856191 258,341 0.42% 8.47% Neuberger Berman Advisers Management Trust - Growth Portfolio 2002 0.40% 27,037 6.093383 164,747 0.00% -0.20% 2001 0.40% 410,698 8.889028 3,650,706 0.00% -11.11% 01/02/01 Neuberger Berman Advisers Management Trust - Guardian Portfolio 2002 0.40% 126,040 9.363567 1,180,184 0.61% -0.11% 2001 0.40% 119,705 10.917855 1,306,922 0.31% 1.39% 2000 0.40% 55,377 11.067843 612,904 0.56% 3.53% 1999 0.40% 127,307 10.928637 1,391,292 0.43% 17.02% Neuberger Berman Advisers Management Trust - Limited Maturity Bond Portfolio 2002 0.40% 90,136 10.986658 990,293 4.74% 0.02% 2001 0.40% 483,040 10.398570 5,022,925 5.31% 3.99% 01/02/01
56
CONTRACT INVESTMENT EXPENSE UNIT CONTRACT INCOME TOTAL RATE* UNITS FAIR VALUE OWNERS' EQUITY RATIO** RETURN*** ----- ----- ---------- -------------- --------- --------- Neuberger Berman Advisers Management Trust - Mid-Cap Growth Portfolio 2002 0.40% 113,343 9.900924 1,122,200 0.00% -0.17% 2001 0.40% 98,726 13.794987 1,361,924 0.00% -13.56% 2000 0.40% 78,414 19.491297 1,528,391 0.00% 12.57% 1999 0.40% 135,164 11.852112 1,601,979 0.00% 4.92% Neuberger Berman Advisers Management Trust - Partners Portfolio 2002 0.40% 197,576 8.722515 1,723,360 0.45% -0.10% 2001 0.40% 722,438 9.931453 7,174,859 0.38% -0.84% 2000 0.40% 126,555 9.911052 1,254,293 0.60% -0.74% 1999 0.40% 105,121 10.555488 1,109,603 0.72% 13.05% Oppenheimer Aggressive Growth Fund/VA - Initial Class 2002 0.40% 445,676 8.854359 3,946,175 0.62% -0.17% 2001 0.40% 781,043 11.409356 8,911,198 0.85% -27.14% 2000 0.40% 214,632 21.426999 4,598,920 0.00% 20.97% 1999 0.40% 91,474 11.698025 1,070,065 0.00% 20.77% Oppenheimer Bond Fund/VA - Initial Class 2002 0.40% 47,810 10.882016 520,269 6.72% 0.02% 2001 0.40% 74,452 10.434281 776,853 4.10% 4.34% 01/02/01 Oppenheimer Capital Appreciation Fund/VA - Initial Class 2002 0.40% 502,442 10.494866 5,273,061 0.53% -0.19% 2001 0.40% 595,510 14.187344 8,448,705 0.56% -5.07% 2000 0.40% 182,060 16.423157 2,990,000 0.11% 9.20% 1999 0.40% 22,876 12.321204 281,860 0.03% 15.59% Oppenheimer Global Securities Fund/VA - Initial Class 2002 0.40% 69,490 7.769503 539,903 0.42% -0.07% 2001 0.40% 229,957 8.753305 2,012,884 1.06% -8.56% Oppenheimer Main Street Growth & Income Fund/VA - Initial Class 2002 0.40% 61,500 8.174538 502,734 0.63% -0.07% 2001 0.40% 54,431 9.241561 503,027 0.51% -6.14% 2000 0.40% 47,368 10.835167 513,240 0.32% -0.01% 1999 0.40% 93,526 10.227355 956,524 0.58% 14.41% Oppenheimer Multiple Strategies Fund/VA - Initial Class 2002 0.40% 31,889 9.519297 303,561 3.01% -0.07% 2001 0.40% 104,602 10.590054 1,107,741 2.78% 5.90% 01/02/01 Strong GVIT Mid Cap Growth Fund - Class I 2002 0.40% 24,300 8.622836 209,535 0.00% -0.24% 2001 0.40% 92,325 14.043826 1,296,596 0.00% -13.94% 2000 0.40% 55,055 20.297188 1,117,462 0.00% 4.83% 1999 0.40% 3,610 13.175713 47,564 0.00% 25.22% Strong Opportunity Fund II, Inc. 2002 0.40% 293,274 7.999154 2,345,944 0.00% -0.15% 2001 0.40% 680,737 9.835165 6,695,161 0.02% -0.16% Strong Variable Insurance Funds, Inc. - Strong Discovery Fund II 2002 0.40% 2,265 10.991885 24,897 0.00% -0.05% Strong Variable Insurance Funds, Inc. - Strong International Stock Fund II 2002 0.40% 16,203 6.702425 108,599 2.04% -0.06% 2001 0.40% 1,408 7.903595 11,128 0.00% -12.64%
(Continued) 57 NATIONWIDE VL SEPARATE ACCOUNT-C NOTES TO FINANCIAL STATEMENTS, CONTINUED
CONTRACT INVESTMENT EXPENSE UNIT CONTRACT INCOME TOTAL RATE* UNITS FAIR VALUE OWNERS' EQUITY RATIO** RETURN*** ----- ----- ---------- -------------- --------- --------- The Dreyfus Socially Responsible Growth Fund, Inc. 2002 0.40% 21,123 8.160791 172,380 0.01% -0.17% 2001 0.40% 34,478 10.967194 378,127 0.01% -14.29% 2000 0.40% 33,077 14.778256 488,820 0.02% 2.35% 1999 0.40% 17,904 12.543738 224,583 0.00% 12.55% Van Eck Worldwide Insurance Trust - Worldwide Emerging Markets Fund 2002 0.40% 48,449 7.615025 368,940 0.17% 0.07% 2001 0.40% 88,751 7.236408 642,238 0.00% -0.92% 2000 0.40% 60,246 11.026051 664,275 0.00% -12.59% 1999 0.40% 28,682 9.209003 264,133 0.00% 45.64% Van Eck Worldwide Insurance Trust - Worldwide Hard Assets Fund 2002 0.40% 15,353 8.905692 136,729 1.11% 0.09% 2001 0.40% 51,643 8.820502 455,517 1.13% -3.60% 2000 0.40% 50,106 8.552782 428,546 0.92% 3.72% 1999 0.40% 21,849 8.074329 176,416 1.54% 18.01% Van Kampen - The Universal Institutional Funds, Inc. - Emerging Markets Debt Portfolio 2002 0.40% 25,781 10.600221 273,284 0.00% 0.00% 2001 0.40% 39,647 10.113332 400,963 0.00% 4.57% 2000 0.40% 61,253 9.266834 567,621 0.00% 6.30% 1999 0.40% 24,247 7.626214 184,913 0.00% 12.73% Van Kampen - The Universal Institutional Funds, Inc. - Mid Cap Growth Portfolio 2002 0.40% 89,238 4.966341 443,186 0.00% -0.19% 2001 0.40% 7,287 7.157233 52,155 0.00% -17.55% Van Kampen - The Universal Institutional Funds, Inc. - U.S. Real Estate Portfolio 2002 0.40% 164,840 13.215439 2,178,433 0.00% 0.10% 2001 0.40% 139,203 11.822324 1,645,703 0.00% 7.86% 2000 0.40% 31,965 9.800269 313,266 5.50% 14.05% 1999 0.40% 29,045 9.668428 280,819 4.25% 8.29%
Contract Owners' Equity Total By Year 2002 $ 384,459,073 ============= 2001 $ 403,058,607 ============= 2000 $ 175,583,776 ============= 1999 $ 73,514,357 =============
* This represents the annualized contract expense rate of the variable account for the period indicated and includes only those expenses that are charged through a reduction in the unit values. Excluded are expenses of the underlying fund portfolios and charges made directly to contract owner accounts through the redemption of units. ** This represents the dividends for the six-month period, excluding distributions of capital gains, received by the subaccount from the underlying mutual fund, net of management fees assessed by the fund manager, divided by average monthly net assets. The six-month ratios exclude those expenses, such as mortality and expense charges, that result in direct reductions in the unit values. The recognition of investment income by the subaccount is affected by the timing of the declaration of dividends by the underlying fund in which the subaccounts invest. *** This represents the total return for the six-month period indicated and includes a deduction only for expenses assessed through the daily unit value calculation. The total return does not include any expenses assessed through the redemption of units; inclusion of these expenses in the calculation would result in a reduction in the total return presented. Investment options with a date notation indicate the effective date of that investment option in the Account. The total return is calculated for the six-month period indicated or from the effective date through the end of the six-month period. 58 [THIS PAGE LEFT BLANK INTENTIONALLY] 59 Bulk Rate U.S. Postage P A I D Columbus, Ohio Permit No. 521 NATIONWIDE LIFE AND ANNUITY INSURANCE COMPANY HOME OFFICE: ONE NATIONWIDE PLAZA - COLUMBUS, OHIO 43215-2220 Nationwide(R) is a registered federal service mark of Nationwide Mutual Insurance Company -----END PRIVACY-ENHANCED MESSAGE-----