Scania Annual Report 2011

80 consolidated income statements
Consolidated income statements
January – December, SEK m. Note 2011 2010 2009
Vehicles and Services
Net sales 4 87,686 78,168 62,074
Cost of goods sold 5 –63,163 –54,504 –48,890
Gross income 24,523 23,664 13,184
Research and development expenses 1 5 –4,440 –3,505 –3,216
Selling expenses 5 –7,014 –6,400 –6,407
Administrative expenses 5 –1,204 –1,200 –918
Share of income in associated companies and joint ventures 13 16 16 5
Operating income, Vehicles and Services 11,881 12,575 2,648
Financial Services 6
Interest and lease income 4,372 4,197 4,666
Interest and depreciation expenses –3,023 –3,026 –3,514
Interest surplus 1,349 1,171 1,152
Other income 129 306 306
Other expenses –48 –240 –262
Gross income 1,430 1,237 1,196
Selling and administrative expenses 5 –615 –573 –538
Bad debt expenses –298 –493 –833
Operating income, Financial Services 517 171 –175
Operating income 12,398 12,746 2,473
Interest income 820 464 407
Interest expenses –559 –657 –1,129
Other financial income 116 70 227
Other financial expenses –163 –90 –376
Total financial items 7 214 –213 –871
Income before taxes 12,612 12,533 1,602
Taxes 8 –3,190 –3,430 –473
Net income 9,422 9,103 1,129
1 Total research and development expenditures during the year amounted to SEK 4,658 m. (3,688 and 3,234, respectively).
financial reports Scania 2011