-----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, AvOKbI77XMclpeK2PI+1sPYeiKKC3eBpsMKgqgFw880sYsvfeEJhrIAlTac8pFWB ToL1QuUuQoCwB0z6eFZtHA== 0000054727-96-000059.txt : 19961113 0000054727-96-000059.hdr.sgml : 19961113 ACCESSION NUMBER: 0000054727-96-000059 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19960930 ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19961112 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: 96658773 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) NOVEMBER 11, 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 September 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: November 12, 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)
September 30, September 30, 1996 1995 -------------- ------------- ASSETS Cash and short-term investments $ 529,363 $ 855,350 Bonds, notes and redeemable preferred stocks: Available for sale, at fair value 12,582,024 6,584,488 Held for investment, at amortized cost -- 718,283 Mortgage loans 1,652,257 1,543,285 Common stocks, at fair value 81,385 39,906 Partnerships 1,071,857 774,417 Other invested assets 282,898 293,230 -------------- -------------- Total investments 16,199,784 10,808,959 Variable annuity assets 6,380,458 5,263,006 Deferred acquisition costs 782,300 526,415 Other assets 364,279 245,787 -------------- -------------- TOTAL ASSETS $ 23,726,821 $ 16,844,167 ============== ============== LIABILITIES AND SHAREHOLDERS' EQUITY Reserves for fixed annuity contracts $ 9,654,674 $ 4,862,250 Reserves for guaranteed investment contracts 4,169,028 3,607,192 Trust deposits 436,048 426,595 Variable annuity liabilities 6,380,458 5,263,006 Long-term notes and debentures 573,335 524,835 Payable to brokers for purchases of securities 42,518 473,728 Other payables, accrued liabilities and deferred income taxes 572,571 420,852 Preferred securities of grantor trusts 237,631 52,631 Shareholders' equity 1,660,558 1,213,078 -------------- -------------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 23,726,821 $ 16,844,167 ============== ==============
EXHIBIT 20(b) SUNAMERICA INC. CONSOLIDATED INCOME STATEMENT (In thousands, except per-share amounts)
Quarters ended September 30, Years ended September 30, ---------------------------- ------------------------- 1996 1995 1996 1995 -------------- ----------- ----------- ---------- Investment income $ 365,216 $ 254,917 $ 1,254,288 $ 905,802 -------------- ----------- ----------- ---------- Interest expense on: Fixed annuity contracts (125,693) (68,446) (410,269) (258,730) Guaranteed investment contracts (66,245) (61,564) (252,027) (213,340) Trust deposits (2,383) (2,618) (9,968) (10,519) Senior indebtedness (15,921) (14,954) (69,033) (55,985) -------------- ----------- ----------- ----------- Total interest expense (210,242) (147,582) (741,297) (538,574) -------------- ----------- ----------- ----------- Dividends paid on preferred securities of grantor trusts (5,171) (1,309) (20,235) (1,673) -------------- ----------- ----------- ----------- NET INVESTMENT INCOME 149,803 106,026 492,756 365,555 -------------- ----------- ----------- ----------- NET REALIZED INVESTMENT LOSSES (15,500) (8,462) (30,314) (33,012) -------------- ----------- ----------- ----------- Fee income: Variable annuity fees 27,849 23,116 104,661 84,583 Net retained commissions 13,506 10,189 49,824 33,715 Asset management fees 6,178 6,536 25,413 26,935 Loan servicing fees 6,027 5,885 23,846 19,792 Trust fees 4,126 3,810 16,684 15,394 -------------- ----------- ----------- ------------ TOTAL FEE INCOME 57,686 49,536 220,428 180,419 -------------- ----------- ----------- ------------ Other income and expenses: Surrender charges 7,040 2,716 22,086 11,885 General and administrative expenses (64,069) (47,958) (212,701) (166,540) Amortization of deferred acquisition costs (33,014) (23,498) (108,176) (86,107) Other, net 597 1,593 7,948 7,406 ------------- ----------- ----------- ------------ TOTAL OTHER INCOME AND EXPENSES (89,446) (67,147) (290,843) (233,356) ------------- ----------- ----------- ------------ PRETAX INCOME 102,543 79,953 392,027 279,606 Income tax expense (30,800) (26,500) (117,600) (85,400) ------------- ----------- ----------- ------------ NET INCOME $ 71,743 $ 53,453 $ 274,427 $ 194,206 ============= =========== =========== ============ EARNINGS PER SHARE $ 0.51 $ 0.40 $ 1.95 $ 1.42 ============= =========== =========== ============ NET EARNINGS APPLICABLE TO COMMON STOCK (used in the computation of earnings per share) $ 68,860 $ 50,570 $ 262,895 $ 179,223 ============= =========== =========== ============ AVERAGE SHARES OUTSTANDING 134,772 126,297 134,587 126,228 ============= =========== =========== ============
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