-----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, DRmu5o6HUo8+/2JPq5r0lb7uj2b6uz68miUwsK9D17M2I0svqMAgR74KlOn423DY 8xyHODATK31jaLrTDInO6g== 0000054727-97-000005.txt : 19970128 0000054727-97-000005.hdr.sgml : 19970128 ACCESSION NUMBER: 0000054727-97-000005 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19961231 ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19970127 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: 97511509 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) January 23, 1997 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 three months ended December 31, 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 caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SUNAMERICA INC. Date: January 27, 1997 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)
December 31, September 30, 1996 1996 -------------- ------------- ASSETS Cash and short-term investments $ 852,124 $ 529,363 Bonds, notes and redeemable preferred stocks available for sale, at fair value 13,776,872 12,582,024 Mortgage loans 1,706,191 1,652,257 Common stocks, at fair value 104,012 81,385 Partnerships 1,173,094 1,071,857 Other invested assets 326,393 282,898 -------------- -------------- Total investments 17,938,686 16,199,784 Variable annuity assets 6,869,800 6,380,458 Deferred acquisition costs 785,167 782,300 Other assets 394,367 364,279 -------------- -------------- TOTAL ASSETS $ 25,988,020 $ 23,726,821 ============== ============== LIABILITIES AND SHAREHOLDERS' EQUITY: Liabilities: Reserves for fixed annuity contracts $ 9,811,904 $ 9,654,674 Reserves for guaranteed investment contracts 4,590,888 4,169,028 Variable annuity liabilities 6,869,800 6,380,458 Long-term notes and debentures 1,004,585 573,335 Trust deposits 461,823 436,048 Payable to brokers for purchases of securities 178,979 42,518 Other payables, accrued liabilities and deferred income taxes 819,290 572,571 -------------- -------------- Total liabilities 23,737,269 21,828,632 -------------- -------------- Preferred securities of subsidiary grantor trusts 547,631 237,631 -------------- -------------- Shareholders' equity: Preferred Stock 335,869 384,549 Nontransferable Class B Stock 10,848 10,848 Common Stock 109,062 108,604 Additional paid-in capital 259,001 304,295 Retained earnings 932,231 869,215 Net unrealized gains (losses) on debt and equity securities available for sale 56,109 (16,953) -------------- -------------- Total shareholders' equity 1,703,120 1,660,558 -------------- -------------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 25,988,020 $ 23,726,821 ============== ==============
EXHIBIT 20(b) SUNAMERICA INC. CONSOLIDATED INCOME STATEMENT (In thousands, except per share-amounts) (Unaudited)
Three months ended December 31, ------------------------------- 1996 1995 ------------- ------------- Investment income $ 370,545 $ 253,990 ------------- ------------- Interest expense on: Fixed annuity contracts (128,895) (68,096) Guaranteed investment contracts (67,179) (61,424) Trust deposits (2,422) (2,571) Senior indebtedness (19,791) (15,052) ------------- ------------- Total interest expense (218,287) (147,143) ------------- ------------- Dividends paid on preferred securities of grantor trusts (8,589) (4,721) ------------- ------------- NET INVESTMENT INCOME 143,669 102,126 ------------- ------------- NET REALIZED INVESTMENT GAINS (LOSSES) (9,304) 1,404 ------------- ------------- Fee income: Variable annuity fees 30,898 24,416 Net retained commissions 13,322 9,161 Asset management fees 6,418 6,503 Loan servicing fees 5,769 5,570 Trust fees 4,455 4,195 ------------- ------------- TOTAL FEE INCOME 60,862 49,845 ------------- ------------- Other income and expenses: Surrender charges 6,635 2,588 General and administrative expenses (59,052) (44,098) Amortization of deferred acquisition costs (30,410) (21,071) Other, net 2,368 1,792 ------------- ------------- TOTAL OTHER INCOME AND EXPENSES (80,459) (60,789) ------------- ------------- PRETAX INCOME 114,768 92,586 Income tax expense (34,400) (27,800) ------------- ------------- NET INCOME $ 80,368 $ 64,786 ============= ============= EARNINGS PER SHARE $ 0.58 $ 0.47 ============= ============= NET EARNINGS APPLICABLE TO COMMON STOCK (used in the computation of earnings per share) $ 78,309 $ 61,903 ============= ============= AVERAGE SHARES OUTSTANDING 134,937 131,492 ============= =============
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