Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2016

Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table summarizes CBIZ’s assets and liabilities at March 31, 2016 and December 31, 2015 that are measured at fair value on a recurring basis subsequent to initial recognition and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value (in thousands):


	Level	March 31, 2016			December 31, 2015
Deferred compensation plan assets	1	$	65,767		$	64,245
Corporate and municipal bonds	1	$	43,472		$	43,142
Interest rate swaps	2	$	(605	)	$	240
Contingent purchase price liabilities	3	$	(22,461	)	$	(24,817	)

Change in Level 3 Fair Values of Contingent Purchase Price Liability

The following table summarizes the change in Level 3 fair values of the Company’s contingent purchase price liability for the three months ended March 31, 2016 and 2015 (pre-tax basis) (in thousands):


	2016			2015
Beginning balance – January 1	$	(24,817	)	$	(33,368	)
Additions from business acquisitions		(1,206	)		(4,186	)
Settlement of contingent purchase price liabilities		2,335			3,829
Change in fair value of contingencies		1,263			1,445
Change in net present value of contingencies		(36	)		(38	)

Ending balance – March 31	$	(22,461	)	$	(32,318	)