Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2013

Derivative Instruments And Hedging Activities Disclosure [Abstract]

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


	2013			2012
Fair value at January 1	$	29,776		$	30,923
Purchases		5,650			5,742
Sales		(845	)		(2,000	)
Maturities and calls		(4,050	)		(4,900	)
Decrease in bond premium		(270	)		(290	)
Fair market value adjustment		(250	)		301

Fair value at December 31	$	30,011		$	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 December 31, 2013 and 2012 (in thousands).


	December 31, 2013
	Notional Amount		Fair Value(2)			Balance Sheet Location
Interest rate swap(1)	$	40,000	$	(452	)	Other current and non-current liabilities


	December 31, 2012
	Notional Amount		Fair Value(2)			Balance Sheet Location
Interest rate swap(1)	$	40,000	$	(817	)	Other current and 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 receives interest that varies with the three-month LIBOR.

(2)	See additional disclosures regarding fair value measurements in Note 6.

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 years ended December 31, 2013 and 2012 (in thousands):


	Gain (loss) Recognized in AOCL, net of tax					Loss Reclassified from AOCL into Expense
	Twelve Months Ended December 31,					Twelve Months Ended December 31,
	2013		2012			2013			2012			Location
Interest rate swap	$	230	$	(93	)	$	(459	)	$	(387	)		Interest expense