Borrowing Arrangements (Tables)

6 Months Ended

Jun. 30, 2014

Summary of Carrying Amount of Debt and Equity Components

The carrying amount of the debt and equity components at June 30, 2014 and December 31, 2013 were as follows (in thousands):


	June 30,			December 31,
	2014			2013
Principal amount of notes	$	130,000		$	130,000
Unamortized discount		(3,994	)		(5,494	)

Net carrying amount	$	126,006		$	124,506

Additional paid-in-capital, net of tax	$	8,555		$	8,555

Summary of Recognized Interest Expense on 2010 Notes and 2006 Notes

During the three and six months ended June 30, 2014 and 2013, CBIZ recognized interest expense on the 2010 Notes and 2006 Notes as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2014		2013		2014		2013
Contractual coupon interest	$	1,590	$	1,590	$	3,181	$	3,181
Amortization of discount		764		710		1,500		1,394
Amortization of deferred financing costs		180		180		360		360

Total interest expense	$	2,534	$	2,480	$	5,041	$	4,935

Summary of Unsecured Credit Facility

Rates for the six months ended June 30, 2014 and 2013 were as follows:


	Six Months Ended June 30,
	2014	2013
Weighted average rates	2.70%	2.96%

Range of effective rates	1.87% - 3.41%	2.66% - 3.91%