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Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2013
Derivative Instruments And Hedging Activities Disclosure [Abstract]  
Summary of Bond Activity

The following table summarizes CBIZ’s bond activity for the six months ended June 30, 2013 and the twelve months ended December 31, 2012 (in thousands):

 

     Six
Months Ended
June 30,
2013		     Twelve
Months Ended
December 31,
2012		  

Fair value at beginning of period

    $ 29,776      $ 30,923   

Purchases

      4,390        5,742   

Sales

      (345 )      (2,000 ) 

Maturities and calls

      (3,000 )      (4,900 ) 

Decrease in bond premium

      (154 )      (290 ) 

Fair market value adjustment

      (295 )      301   
  

 

 

    

 

 

  

Fair value at end of period

    $ 30,372      $ 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 June 30, 2013 and December 31, 2012 (in thousands).

 

    June 30, 2013
    Notional     Fair     Balance Sheet
    Amount     Value (2)    

Location

Interest rate swap (1)

   $ 40,000      $ (591 )    Other current and 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 $15.0 million will expire in June 2014 and the remaining $25.0 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 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 consolidated statements of comprehensive income for the three and six months ended June 30, 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  
     June 30,     June 30,  
     2013      2012     2013      2012  

Interest rate swap

    $ 78       $ (50 )    $ 114       $ 95   
     Six Months Ended     Six Months Ended  
     June 30,     June 30,  
     2013      2012     2013      2012  

Interest rate swap

    $ 143       $ (93 )    $ 225       $ 185