-----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, ZZ/ASE9cuauTAcl9Fs0TXXtZ5PwFgM3dwfQle2Fe88SMlMHaryCRGck0ab3Z8Jsw 25Ayvdh6HbQE8sei8LzVTA== 0000054727-95-000052.txt : 19950731 0000054727-95-000052.hdr.sgml : 19950731 ACCESSION NUMBER: 0000054727-95-000052 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19950630 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19950728 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: 95556939 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) JULY 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 June 30, 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: July 28, 1995 By: /s/ SCOTT L. ROBINSON ----------------------------- Scott L. Robinson Senior Vice President and Controller EXHIBIT 20(a) SUNAMERICA INC. CONDENSED CONSOLIDATED BALANCE SHEET (Unaudited)
June 30, September 30, (In thousands) 1995 1994 -------------- ------------- ASSETS Cash and short-term investments $ 766,926 $ 569,382 Bonds, notes and redeemable preferred stocks: Available for sale, at fair value 6,236,728 5,270,738 Held for investment, at amortized cost 809,731 1,064,132 Mortgage loans 1,534,936 1,426,924 Common stocks, at fair value 38,834 61,660 Partnerships 750,945 593,854 Real estate 102,898 107,053 Other invested assets 231,757 186,647 -------------- -------------- Total investments 10,472,755 9,280,390 Variable annuity assets 4,893,894 4,513,093 Deferred acquisition costs 523,620 581,874 Other assets 305,279 280,868 -------------- -------------- TOTAL ASSETS $ 16,195,548 $ 14,656,225 ============== ============== LIABILITIES AND SHAREHOLDERS' EQUITY Reserves for fixed annuity contracts $ 4,887,635 $ 4,519,623 Reserves for guaranteed investment contracts 3,276,686 2,783,522 Trust deposits 430,868 442,320 Variable annuity liabilities 4,893,894 4,513,093 Senior indebtedness 472,835 501,497 Payable to brokers for purchases of securities 552,723 643,734 Other payables and accrued liabilities 326,714 217,029 Deferred income taxes 136,585 74,319 Preferred securities of grantor trust 52,631 -- Shareholders' equity 1,164,977 961,088 -------------- -------------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 16,195,548 $ 14,656,225 ============== ==============
EXHIBIT 20(b) SUNAMERICA INC. CONDENSED CONSOLIDATED INCOME STATEMENT (In thousands, except per share amounts) (Unaudited)
Three months ended June 30, Nine months ended June 30, ---------------------------- ---------------------------- 1995 1994 1995 1994 -------------- ----------- ------------- ----------- Net investment income: Investment income $ 233,261 $ 187,019 $ 650,885 $ 560,952 Interest expense (138,557) (112,778) (391,356) (345,261) -------------- ----------- ------------ ----------- NET INVESTMENT INCOME 94,704 74,241 259,529 215,691 -------------- ----------- ------------ ----------- NET REALIZED INVESTMENT LOSSES (8,975) (5,312) (24,550) (16,566) -------------- ----------- ------------ ----------- Fee income: Variable annuity fees 21,246 19,837 61,467 59,148 Asset management fees 6,712 7,541 20,399 24,017 Net retained commissions 8,670 7,181 22,673 20,888 Loan servicing fees 5,874 -- 13,907 -- Trust fees 3,892 3,081 11,584 9,051 -------------- ----------- ------------ ------------ TOTAL FEE INCOME 46,394 37,640 130,030 113,104 -------------- ----------- ------------ ------------ Other income and expenses: Surrender charges 3,013 2,883 9,169 8,034 General and administrative expenses (44,358) (32,198) (118,582) (98,155) Amortization of deferred acquisition costs (21,783) (17,241) (59,197) (48,574) Other, net 370 1,150 3,254 2,700 ------------- ----------- ------------ ------------ TOTAL OTHER INCOME AND EXPENSES (62,758) (45,406) (165,356) (135,995) ------------- ----------- ------------ ------------ PRETAX INCOME 69,365 61,163 199,653 176,234 Income tax expense (21,100) (19,100) (58,900) (54,600) ------------- ----------- ------------ ------------ INCOME BEFORE CUMULATIVE EFFECT OF CHANGE IN ACCOUNTING FOR INCOME TAXES 48,265 42,063 140,753 121,634 Cumulative effect of change in accounting for income taxes -- -- -- (33,500) ------------- ----------- ------------ ------------ NET INCOME $ 48,265 $ 42,063 $ 140,753 $ 88,134 ============= =========== ============ ============ EARNINGS PER SHARE: INCOME BEFORE CUMULATIVE EFFECT OF CHANGE IN ACCOUNTING FOR INCOME TAXES $ 1.05 $ 0.91 $ 3.06 $ 2.63 Cumulative effect of change in accounting for income taxes -- -- -- (0.81) ------------- ----------- ------------ ----------- NET INCOME $ 1.05 $ 0.91 $ 3.06 $ 1.82 ============= =========== ============ =========== AVERAGE SHARES OUTSTANDING 42,288 41,546 42,069 41,596 ============= =========== ============ =========== KEY OPERATING STATISTICS: Total sales* $ 831,300 $ 602,099 $ 2,374,041 $ 1,748,468 ============= =========== ============= ============ Operating earnings** $ 54,099 $ 45,516 $ 156,711 $ 132,402 ============= =========== ============= ============ Operating earnings per share $ 1.19 $ 1.00 $ 3.44 $ 2.89 ============= =========== ============= ============ *Premiums and mutual fund sales, excluding sales of money market accounts. **After-tax earnings before net realized investment losses.
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