-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, tZ5pG3YVirfMmXZA0i+Bq2OJpHYouhJiLeHRNAwtiDoEn75PmghosFf70hJwU040 NX4Vhh3oXcbGOnYNd5rrhw== 0000054727-95-000033.txt : 19950426 0000054727-95-000033.hdr.sgml : 19950426 ACCESSION NUMBER: 0000054727-95-000033 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19950331 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19950425 SROS: NYSE SROS: PSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: SUNAMERICA INC CENTRAL INDEX KEY: 0000054727 STANDARD INDUSTRIAL CLASSIFICATION: LIFE INSURANCE [6311] IRS NUMBER: 860176061 STATE OF INCORPORATION: MD FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-04618 FILM NUMBER: 95530908 BUSINESS ADDRESS: STREET 1: 1 SUNAMERICA CENTER CITY: LOS ANGELES STATE: CA ZIP: 90067-6022 BUSINESS PHONE: 3107726000 FORMER COMPANY: FORMER CONFORMED NAME: KAUFMAN & BROAD INC DATE OF NAME CHANGE: 19890515 FORMER COMPANY: FORMER CONFORMED NAME: KAUFMAN & BROAD BUILDING CO DATE OF NAME CHANGE: 19711006 8-K 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ________________ FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) APRIL 24, 1995 SUNAMERICA INC. (EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER) MARYLAND 1-4618 86-0176061 (STATE OR OTHER JURISDICTION (COMMISSION (IRS EMPLOYER OF INCORPORATION) FILE NUMBER) IDENTIFICATION NO.) 1 SUNAMERICA CENTER LOS ANGELES, CALIFORNIA 90067-6022 (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE) Registrant's telephone number, including area code (310) 772-6000 Item 5. Other Events ------------- The Registrant has released financial position and earnings information as of and for the periods ended March 31, 1995. See the attached Condensed Consolidated Balance Sheet and Condensed Consolidated Income Statement. Item 7. Financial Statements, Pro Forma Financial Information and --------------------------------------------------------- Exhibits --------- (c) Exhibits Exhibit 20(a) Condensed Consolidated Balance Sheet Exhibit 20(b) Condensed Consolidated Income Statement SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SUNAMERICA INC. Date: April 24, 1995 By: /s/ Scott L. Robinson ----------------------------- Scott L. Robinson Senior Vice President and Controller EXHIBIT 20(a) SUNAMERICA INC. CONDENSED CONSOLIDATED BALANCE SHEET (Unaudited)
March 31, September 30, (In thousands) 1995 1994 -------------- ------------- ASSETS Cash and short-term investments $ 743,044 $ 569,382 Bonds, notes and redeemable preferred stocks: Available for sale, at fair value 5,569,968 5,270,738 Held for investment, at amortized cost 858,888 1,064,132 Mortgage loans 1,519,782 1,426,924 Common stocks, at fair value 44,189 61,660 Real estate 107,007 107,053 Other invested assets 955,503 780,501 -------------- -------------- Total investments 9,798,381 9,280,390 Variable annuity assets 4,535,622 4,513,093 Deferred acquisition costs 573,152 581,874 Other assets 323,121 280,868 -------------- -------------- TOTAL ASSETS $ 15,230,276 $ 14,656,225 ============== ============== LIABILITIES AND SHAREHOLDERS' EQUITY Reserves for fixed annuity contracts $ 4,798,893 $ 4,519,623 Reserves for guaranteed investment contracts 2,949,632 2,783,522 Trust deposits 448,174 442,320 Variable annuity liabilities 4,535,622 4,513,093 Senior indebtedness 472,835 501,497 Payable to brokers for purchases of securities 573,536 643,734 Other payables and accrued liabilities 268,585 217,029 Deferred income taxes 101,169 74,319 Shareholders' equity 1,081,830 961,088 -------------- -------------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 15,230,276 $ 14,656,225 ============== ==============
EXHIBIT 20(b) SUNAMERICA INC. CONDENSED CONSOLIDATED INCOME STATEMENT (In thousands, except per share amounts) (Unaudited)
Three months ended March 31, Six months ended March 31, ---------------------------- -------------------------- 1995 1994 1995 1994 -------------- ----------- ------------ ----------- Net investment income: Investment income $ 215,457 $ 183,402 $ 417,624 $ 373,933 Interest expense (128,741) (112,666) (252,799) (232,483) -------------- ----------- ------------ ----------- NET INVESTMENT INCOME 86,716 70,736 164,825 141,450 -------------- ----------- ------------ ----------- NET REALIZED INVESTMENT LOSSES (8,344) (5,887) (15,575) (11,254) -------------- ----------- ------------ ----------- Fee income: Variable annuity fees 19,768 19,724 40,221 39,311 Asset management fees 6,662 8,127 13,687 16,476 Net retained commissions 7,383 7,070 14,003 13,707 Trust fees 3,942 2,916 7,692 5,970 Loan servicing fees 6,055 -- 8,033 -- -------------- ----------- ------------ ------------ TOTAL FEE INCOME 43,810 37,837 83,636 75,464 -------------- ----------- ------------ ------------ Other income and expenses: Surrender charges 3,412 2,637 6,156 5,151 General and administrative expenses (41,116) (32,500) (74,224) (65,957) Amortization of deferred acquisition costs (18,740) (16,090) (37,414) (31,333) Other, net 1,016 1,074 2,884 1,550 ------------- ----------- ------------ ------------ TOTAL OTHER INCOME AND EXPENSES (55,428) (44,879) (102,598) (90,589) ------------- ----------- ------------ ------------ PRETAX INCOME 66,754 57,807 130,288 115,071 Income tax expense (19,400) (17,800) (37,800) (35,500) ------------- ----------- ------------ ------------ INCOME BEFORE CUMULATIVE EFFECT OF CHANGE IN ACCOUNTING FOR INCOME TAXES 47,354 40,007 92,488 79,571 Cumulative effect of change in accounting for income taxes -- -- -- (33,500) ------------- ----------- ------------ ------------ NET INCOME $ 47,354 $ 40,007 $ 92,488 $ 46,071 ============= =========== ============ ============ EARNINGS PER SHARE: INCOME BEFORE CUMULATIVE EFFECT OF CHANGE IN ACCOUNTING FOR INCOME TAXES $ 1.03 $ 0.86 $ 2.01 $ 1.71 Cumulative effect of change in accounting for income taxes -- -- -- (0.80) ------------- ----------- ------------ ----------- NET INCOME $ 1.03 $ 0.86 $ 2.01 $ 0.91 ============= =========== ============ =========== AVERAGE COMMON SHARES OUTSTANDING 42,067 41,604 41,959 41,622 ============= =========== ============ ===========
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