Industrial operations   Customer Finance   Eliminations   Volvo Group
SEK M   2013 2012   2013 2012   2013 2012   2013 2012
Net sales Note 6,7 265,420 292,198   9,539 9,783   (2,337) (2,167)   272,622 299,814
Cost of sales   (209,307) (227,745)   (5,534) (6,036)   2,337 2,167   (212,504) (231,615)
Gross income   56,113 64,454   4,005 3,747   0 0   60,118 68,199
                         
Research and development expenses   (15,124) (14,635)       (15,124) (14,635)
Selling expenses   (26,904) (26,230)   (1,602) (1,665)     (28,506) (27,894)
Administrative expenses   (5,824) (5,535)   (38) (29)     (5,862) (5,563)
Other operating income and expenses Note 8 (2,710) (1,538)   (843) (556)     (3,554) (2,096)
Income (loss) from investments in joint ventures and associated companies Note 5,6 96 99       96 99
Income from other investments Note 5 (31) (42)       (30) (42)
Operating income   5,616 16,573   1,522 1,496     7,138 18,069
                         
Interest income and similar credits   381 453   0 0     381 453
Interest expenses and similar charges   (2,810) (2,949)   0 0     (2,810) (2,949)
Other financial income and expenses Note 9 11 (78)   0 0     11 (78)
Income after financial items   3,199 13,999   1,522 1,496     4,721 15,495
                         
Income taxes Note 10 (451) (3,682)   (468) (434)     (919) (4,116)
Income for the period   2,748 10,317   1,054 1,062     3,802 11,378
                         
Attributable to:                        
Equity holders of the parent company                     3,583 11,160
Minority interests Note 11                   219 219
                      3,802 11,378
                         
Basic earnings per share, SEK Note 19                   1.77 5.61
Diluted earnings per share, SEK Note 19                   1.76 5.61