Borrowing Arrangements (Tables)

9 Months Ended

Sep. 30, 2013

Summary of Carrying Amount of Debt and Equity Components

The carrying amount of the debt and equity components at September 30, 2013 and December 31, 2012 were as follows (in thousands):


	September 30,			December 31,
	2013			2012
Principal amount of notes	$	130,000		$	130,000
Unamortized discount		(6,230	)		(8,334	)

Net carrying amount	$	123,770		$	121,666

Additional paid-in-capital, net of tax	$	8,555		$	8,555

The carrying amount of the debt and equity components at September 30, 2013 and December 31, 2012 were as follow (in thousands):


	September 30,		December 31,
	2013		2012
Principal amount of notes	$	750	$	750
Unamortized discount		—		—

Net carrying amount	$	750	$	750

Additional paid-in-capital, net of tax	$	11,425	$	11,425

Summary of Recognized Interest Expense on 2010 Notes and 2006 Notes

During the three and nine months ended September 30, 2013 and 2012, CBIZ recognized interest expense on the 2010 Notes and 2006 Notes as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2013		2012		2013		2012
Contractual coupon interest	$	1,590	$	1,590	$	4,771	$	4,771
Amortization of discount		710		659		2,104		1,954
Amortization of deferred financing costs		180		180		540		540

Total interest expense	$	2,480	$	2,429	$	7,415	$	7,265

Summary of Unsecured Credit Facility

Rates for the nine months ended September 30, 2013 and 2012 were as follows:


	Nine Months Ended September 30,
	2013			2012
Weighted average rates		2.96	%		3.18	%

Range of effective rates		2.40% – 3.91	%		2.68% – 3.91	%