$HOG 2Q15 Call: At the end of the quarter, we had $419MM of cash & cash equivalents at HDFS. In addition, HDFS had 1.84Bil of available liquidity through bank credit & conduit facilities. The company generated operating cash of $613.9MM in the first half of the year. Operating cash was up $43.4MM from last year.
$MSFT said that with the company's annuity mix as high as it is, it can impact the uptick in the transactional business either way. The company's focus will always be making sure it has a clear road map for customers to make long term commitments through annuity.