 RESULTS OF OPERATIONS: ($ in millions, except per share data) Year Ended December 31, 2011  2010 2009 Net sales and revenues: Truck $15,207.7  $ 9,237.3 $ 6,994.0 Other  118.2  87.8 82.7 Truck and Other  15,325.9  9,325.1 7,076.7 Financial Services 1,029.3  967.8 1,009.8 $16,355.2 $10,292.9  $ 8,086.5 Income (loss) before income taxes: Truck  $ 1,258.8 $  501.0  $  25.9 Other  (26.5) (15.3) 42.2 Truck and Other  1,232.3  485.7 68.1 Financial Services 236.4 153.5 84.6 Investment income  38.2 21.1 22.3 Income taxes  (464.6) (202.7) (63.1) Net Income  $ 1,042.3 $  457.6  $  111.9 Diluted Earnings Per Share  $  2.86 $  1.25  $  .31 Return on Revenues  6.4% 4.4% 1.4% The following provides an analysis of the results of operations for the two reportable segments, Truck and Financial  Services. Where possible, the Company has quantified the factors identified in the following discussion and analysis.  In cases where it is not possible to quantify the impact of factors, the Company lists them in estimated order of  importance. Factors for which the Company is unable to specifically quantify the impact include market demand,  fuel prices, freight tonnage and economic conditions affecting the Company’s results of operations. PACCAR’s Truck segment accounted for 93% and 90% of revenues in 2011 and 2010, respectively. 2011 Compared to 2010:  Truck The Company’s worldwide truck and parts sales and revenues increased due to higher market demand, primarily in  the U.S. and Canada and Europe.  The increase in Truck segment income before income taxes was due to higher truck unit sales and margin and  higher aftermarket parts sales and margins, partially offset by increases in R&D and selling, general and  administrative (SG&A) expenses to support a higher level of business activity. 2011 truck income before income  taxes was also affected by the translation of stronger foreign currencies, primarily the euro. The translation effect of  all currencies increased 2011 income before income taxes by $28.1 million compared to 2010.  ($ in millions) Year Ended December 31, 2011  2010 %  CHANGE Truck net sales and revenues: U.S. and Canada  $ 8,162.9 $ 4,419.2 85 Europe  4,799.8  3,190.2 50 Mexico, South America, Australia and other  2,245.0  1,627.9 38 $15,207.7 $ 9,237.3 65 Truck income before income taxes  $ 1,258.8 $  501.0 151