SEK bn  Change (excluding currency) Currency impact Total
Operating income 2011     26.9
Change in gross income Industrial operations1) (7.0) 1.3 (5.7)
Change in gross income Customer financing 0.6 0 0.6
Higher capitalization of development cost 1.2 (0.1) 1.1
Higher research and development expenditures (2.7) 0.1 (2.6)
Higher selling and administrative expenses (2.3) 0 (2.3)
Restructuring and efficiency programs in Japan and Europe (1.6) 0 (1.6)
Profit from the sale of Volvo Aero  0.6 0 0.6
Volvo profit sharing program 0.3 0 0.3
Insurance compensation for damages from earthquake and Tsunami in Japan in 2011 0.1 0 0.1
Provision for negative outcome in court ruling related to EPA (0,1) 0 (0,1)
Other 0.3 0 0.3
Operating income 2012     17.6

1) During 2012 gross income was affected by underabsorption of costs amounting to SEK neg 2.7 billlions and adjustment in warranty provisions amouting to SEK neg 0.5 billions. Distruptions in the Volvo Group's Japanese operations, as a consequence of earthquake and tsunami affected gross income by SEK neg 0.7 billions during 2011.