PACCAR 2011 Annual Report Download - page 47

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
Year Ended December 31, 2011 2010 2009
(millions, except per share data)
TRUCK AND OTHER:
Net sales and revenues $ 15,325.9 $ 9,325.1 $ 7,076.7
Cost of sales and revenues 13,341.8 8,198.8 6,483.4
Research and development 288.2 238.5 199.2
Selling, general and administrative 452.9 392.8 348.4
Curtailment gain (66.0)
Interest and other expense, net 10.7 9.3 43.6
14,093.6 8,839.4 7,008.6
Truck and Other Income Before Income Taxes 1,232.3 485.7 68.1
FINANCIAL SERVICES:
Interest and fees 423.1 421.6 501.8
Operating lease, rental and other income 606.2 546.2 508.0
Revenues 1,029.3 967.8 1,009.8
Interest and other borrowing expenses 181.3 213.0 291.8
Depreciation and other expense 476.2 451.6 456.1
Selling, general and administrative 94.0 88.7 86.5
Provision for losses on receivables 41.4 61.0 90.8
792.9 814.3 925.2
Financial Services Income Before Income Taxes 236.4 153.5 84.6
Investment income 38.2 21.1 22.3
Total Income Before Income Taxes 1,506.9 660.3 175.0
Income taxes 464.6 202.7 63.1
Net Income $ 1,042.3 $ 457.6 $ 111.9
Net Income Per Share
Basic $ 2.87 $ 1.25 $ .31
Diluted $ 2.86 $ 1.25 $ .31
Weighted average number of common shares outstanding
Basic 363.3 365.0 363.8
Diluted 364.4 366.2 364.9
See notes to consolidated financial statements.
CONSOLIDATED STATEMENTS OF INCOME