Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2015

Investments, All Other Investments [Abstract]

The following table summarizes CBIZ’s bond activity for the nine months ended September 30, 2015 and the twelve months ended December 31, 2014 (in thousands):


	Nine Months Ended September 30, 2015			Twelve Months Ended December 31, 2014
Fair value at beginning of period	$	38,399		$	30,011
Purchases		12,494			14,089
Sales		—			(245	)
Maturities and calls		(8,865	)		(6,426	)
Increase in bond premium		148			1,155
Fair market value adjustment		39			(185	)

Fair value at end of period	$	42,215		$	38,399

Summary of Outstanding Interest Rate Swap

The following table summarizes CBIZ’s outstanding interest rate swap and its classification in the accompanying Consolidated Balance Sheets at December 31, 2014 (in thousands).


	December 31, 2014
	Notional		Fair			Balance Sheet
	Amount		Value (2)			Location
Interest rate swap (1)	$	25,000	$	(126	)	Other current and non-current liabilities

(1)	Represents interest rate swap with a notional value of $25 million which expired in June 2015. Under the terms of the interest rate swap, CBIZ paid interest at a fixed rate of 1.41% plus applicable margin as stated in the agreement, and received interest that varied with the three-month LIBOR.

(2)	See additional disclosures regarding fair value measurements in Note 8.

Summary of Effects of Interest Rate Swap

The following table summarizes the effects of the interest rate swap on CBIZ’s accompanying Consolidated Statements of Comprehensive Income for the three and nine months ended September 30, 2015 and 2014 (in thousands):


	Gain Recognized in AOCL, net of tax				Loss Reclassified from AOCL into Expense
	Three Months Ended				Three Months Ended
	September 30,				September 30,
	2015		2014		2015		2014
Interest rate swap	$	—	$	44	$	—	$	75

	Nine Months Ended				Nine Months Ended
	September 30,				September 30,
	2015		2014		2015		2014
Interest rate swap	$	79	$	161	$	128	$	301