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Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2013
Financial Instruments [Abstract]  
Summary of bond activity

The following table summarizes CBIZ’s bond activity for the three months ended March 31, 2013 and the twelve months ended December 31, 2012 (in thousands):

 

                 
    Three
Months Ended
March 31,
2013		     Twelve
Months Ended
December 31,
2012		  

Fair value at beginning of period

   $ 29,776     $ 30,923  

Purchases

     975       5,742  

Sales

     (345 )      (2,000 ) 

Maturities and calls

     (3,000 )      (4,900 ) 

Decrease in bond premium

     (216 )      (290 ) 

Fair market value adjustment

     65       301  
   

 

 

    

 

 

  

Fair value at end of period

   $ 27,255     $ 29,776  
   

 

 

    

 

 

  
Summary of outstanding interest rate swap

The following table summarizes CBIZ’s outstanding interest rate swap and its classification on the consolidated balance sheets at March 31, 2013 and December 31, 2012 (in thousands).

 

                     
    March 31, 2013
    Notional     Fair     Balance Sheet
    Amount     Value (2)     Location

Interest rate swap (1)

   $ 40,000     $   (713 )    Other non-current liabilities
   
    December 31, 2012
    Notional     Fair     Balance Sheet
    Amount     Value (2)     Location

Interest rate swap (1)

   $ 40,000     $ (817 )    Other non-current liabilities

 

  (1) Represents interest rate swap with a notional value of $40.0 million, of which $25.0 million will expire in June 2014 and the remaining $15.0 million will expire in June 2015. Under the terms of the interest rate swap, CBIZ pays interest at a fixed rate of 1.41% plus applicable margin as stated in the agreement, and receives interest that varies with the three-month LIBOR.
  (2) See additional disclosures regarding fair value measurements in Note 8.
Summary of effects of interest rate swaps

The following table summarizes the effects of interest rate swap on CBIZ’s consolidated statements of comprehensive income for the three months ended March 31, 2013 and 2012 (in thousands).

 

                                     
    Gain (Loss) Recognized
in  AOCL, net of tax		     Loss Reclassified
from AOCL into Expense
    Three Months Ended     Three Months Ended      
    March 31,     March 31,      
    2013     2012     2013     2012     Location

Interest rate swap

   $ 65     $ (43 )    $ 111     $ 90     Interest expense