Debt and Financing Arrangements (Tables)

6 Months Ended

Jun. 30, 2015

Summary of Unsecured Credit Facility

Rates for the six months ended June 30, 2015 and 2014 (with respect to the Company’s prior credit facility which was terminated on July 28, 2014) were as follows:

	Six Months Ended June 30,
	2015	2014
Weighted average rates	2.17%	2.70%
Range of effective rates	1.88% - 3.25%	1.87% - 3.41%

Summary of Recognized Interest Expense

During the three and six months ended June 30, 2015 and 2014, CBIZ recognized interest expense as follows (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
2010 Notes (1)	$	1,683	$	2,534	$	3,609	$	5,041
Credit facility (2)		1,165		1,043		2,216		1,969
Total interest expense	$	2,848	$	3,577	$	5,825	$	7,010

(1) Components of interest expense related to the 2010 Notes include the contractual coupon interest, amortization of discount and amortization of deferred financing costs. The portion related to the 2006 Notes is included but is minimal.

(2) Components of interest expense related to the credit facility include amortization of deferred financing costs, commitment fees and line of credit fees

2010 Convertible Senior Subordinated Notes [Member]

Summary of Carrying Amount of Debt and Equity Components

The carrying amount of the 2010 Notes at June 30, 2015 and December 31, 2014 were as follows (in thousands):

	June 30,			December 31,
	2015			2014
Principal amount of notes	$	48,373		$	97,650
Unamortized discount		(306	)		(1,831	)
Net carrying amount	$	48,067		$	95,819