-----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, VF1XBQCXJGP6wd+XAKqpbs+9Uehw8D19t6zRyKwQJQtE1RZQUExbGbanOLrxcOPn Bey24iAJYoBv3+frosLRRA== 0000054727-96-000048.txt : 19960726 0000054727-96-000048.hdr.sgml : 19960726 ACCESSION NUMBER: 0000054727-96-000048 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19960630 ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19960725 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: 96598662 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 25, 1996 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, 1996. See the attached Condensed Consolidated Balance Sheet and 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) Consolidated Income Statement SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SUNAMERICA INC. Date: July 25, 1996 By: /s/ SCOTT L. ROBINSON ----------------------------- Scott L. Robinson Senior Vice President and Controller EXHIBIT 20(a) SUNAMERICA INC. CONDENSED CONSOLIDATED BALANCE SHEET (In thousands - unaudited)
June 30, September 30, 1996 1995 -------------- ------------- ASSETS Cash and short-term investments $ 725,591 $ 855,350 Bonds, notes and redeemable preferred stocks: Available for sale, at fair value 12,479,450 6,584,488 Held for investment, at amortized cost -- 718,283 Mortgage loans 1,587,211 1,543,285 Common stocks, at fair value 56,265 39,906 Partnerships 1,007,814 774,417 Real estate 106,199 105,637 Other invested assets 190,237 187,593 -------------- -------------- Total investments 16,152,767 10,808,959 Variable annuity assets 6,083,369 5,263,006 Deferred acquisition costs 781,612 526,415 Other assets 382,359 245,787 -------------- -------------- TOTAL ASSETS $ 23,400,107 $ 16,844,167 ============== ============== LIABILITIES AND SHAREHOLDERS' EQUITY Reserves for fixed annuity contracts $ 9,622,137 $ 4,862,250 Reserves for guaranteed investment contracts 4,102,787 3,607,192 Trust deposits 423,790 426,595 Senior indebtedness 573,335 524,835 Variable annuity liabilities 6,083,369 5,263,006 Payable to brokers for purchases of securities 324,037 473,728 Other payables, accrued liabilities and deferred income taxes 506,816 420,852 Preferred securities of grantor trusts 237,631 52,631 Shareholders' equity 1,526,205 1,213,078 -------------- -------------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 23,400,107 $ 16,844,167 ============== ==============
EXHIBIT 20(b) SUNAMERICA INC. CONSOLIDATED INCOME STATEMENT (In thousands, except per-share amounts) (Unaudited)
Three months ended June 30, Nine months ended June 30, ---------------------------- ---------------------------- 1996 1995 1996 1995 -------------- ----------- ------------- ----------- Net investment income $ 347,544 $ 233,261 $ 889,072 $ 650,885 -------------- ----------- ------------ ---------- Interest expense on: Fixed annuity contracts (126,892) (67,940) (284,576) (190,284) Guaranteed investment contracts (64,440) (54,215) (185,782) (151,776) Trust deposits (2,462) (2,625) (7,585) (7,901) Senior indebtedness (20,046) (13,413) (53,112) (41,031) -------------- ----------- ------------ ----------- Total interest expense (213,840) (138,193) (531,055) (390,992) -------------- ----------- ------------ ----------- Dividends paid on preferred securities of grantor trusts (5,171) (364) (15,064) (364) -------------- ----------- ------------ ----------- NET INVESTMENT INCOME 128,533 94,704 342,953 259,529 -------------- ----------- ------------ ----------- NET REALIZED INVESTMENT LOSSES (12,629) (8,975) (14,814) (24,550) -------------- ----------- ------------ ----------- Fee income: Variable annuity fees 27,059 21,246 76,812 61,467 Net retained commissions 13,457 8,670 35,388 22,673 Asset management fees 6,371 6,712 19,235 20,399 Loan servicing fees 6,046 5,874 17,819 13,907 Trust fees 4,237 3,892 12,558 11,584 -------------- ----------- ------------ ------------ TOTAL FEE INCOME 57,170 46,394 161,812 130,030 -------------- ----------- ------------ ------------ Other income and expenses: Surrender charges 7,433 3,013 15,046 9,169 General and administrative expenses (54,292) (44,358) (148,632) (118,582) Amortization of deferred acquisition costs (27,081) (21,783) (67,597) (59,197) Other, net 323 370 716 3,254 ------------- ----------- ------------ ------------ TOTAL OTHER INCOME AND EXPENSES (73,617) (62,758) (200,467) (165,356) ------------- ----------- ------------ ------------ PRETAX INCOME 99,457 69,365 289,484 199,653 Income tax expense (29,800) (21,100) (86,800) (58,900) ------------- ----------- ------------ ------------ NET INCOME $ 69,657 $ 48,265 $ 202,684 $ 140,753 ============= =========== ============ ============ EARNINGS PER SHARE $ 0.98 $ 0.70 $ 2.88 $ 2.04 ============= =========== ============ ============ NET EARNINGS APPLICABLE TO COMMON STOCK (used in the computation of earnings per share) $ 66,774 $ 44,478 $ 194,035 $ 128,653 ============= =========== ============ ============ AVERAGE SHARES OUTSTANDING 68,078 63,432 67,263 63,103 ============= =========== ============ ===========
-----END PRIVACY-ENHANCED MESSAGE-----