As you look at our capacity today we have roughly $875 million of available capacity to pursue strategic initiatives. That’s a combination of roughly $250 million of cash on hand and the balance being capacity under our existing revolving credit facility. So as we sit here today, we have roughly gross debt of $1.6 billion, net debt of something south of 1.4. We’re sort two-and-a-half times levered right in the sweet pot as we see it for continuing to move forward and execute on the capital allocation plan that we’ve been discussing now for several quarters; ample capacity to pursue both strategic acquisitions that meet our criteria, as well as continuing to be a relatively consistent buyer of our stock in the market.
Darrin Peller
Alright, that’s very helpful. Just one quick follow up, one thing I didn’t hear mentioned much on the call around pricing potential is the Visa and MasterCard place changes going to effect in the US market, the increases in their assessment fees, although mild. I know there’s been some opportunity for you guys in the past, not just to pass it through, so, is that also something that might perhaps go into effect in January, April, and give you guys a little bit of a lift in the US market going forward?
David E. Mangum
Yeah Darrin, its Dave. The answer is yes, although I would point you back to Jeff’s comments earlier. Those are the kinds of compliance releases that happen a couple of times a year. They’re almost always baked into how we think about the business as the year starts. But you’re absolutely right. That’s a little bit of help or little bit of air cover as we think about any operational things we might want to do in the second half of the year.
Darrin Peller
Got it. Alright, guys. Thank you.
Operator
Thank you. Our next question is from Andrew Jeffrey of SunTrust. You may begin.
Andrew W. Jeffrey, Analyst, SunTrust Robinson Humphrey
Good morning. Happy New Year, guys. Thanks for taking the question.
Cameron M. Bready
Sure.
Jeffrey S. Sloan
Good morning.
Andrew W. Jeffrey
Could you generally discuss sort of the couple I guess competitive questions. One, in terms of the North American OpenEdge competitive environment, US, any changes that are notable in terms of competition within the channel or from other providers? And then as a follow-up, E-Commerce, we’re hearing about a lot of companies being funded in the ECommerce space, especially in Europe, any sort of competitive thoughts on that front?
Cameron M. Bready
Yeah, Andrew, I’ll start with the US, North America view around OpenEdge and integrated. I think there are a couple ways to think about competition. First off, it’s not notably different from maybe six months ago if we had the same conversation. There are more folks using the words integrated payments as they describe their offerings. Often those are ISOs without fully-integrated payment solutions that really do embed themselves into the software that runs small businesses around the country.
So when you get down to brass tacks from a solution perspective, there really isn’t a change but you see a little more marketing, a little bit more noise. Obviously, given the success, and the fairly public success of integrated solutions, particularly the solutions that we’ve been selling for the last year and a half when we finished off the APT transaction.
But again, if you reset yourself and say, ‘Okay, is the list of competitors different from what it was six or nine months ago?’ No. ‘Is there a noticeable change in the economics of the market from six months ago or nine months ago?’ The answer is no, and, in fact, hopefully we’re driving the opposite, which is rolling out more solutions, making us more and more the partner of choice obviously, but also driving more sustainable competitive advantage for us and our partners as we work with the merchants themselves, we’re doing more and more to solidify those relationships.
