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Borrowing Arrangements (Tables)
 12 Months Ended
Dec. 31, 2013
Debt Disclosure [Abstract]  
Summary of Carrying Amount of Debt and Equity Components

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

 

     2013     2012  

Principal amount of notes

    $ 130,000      $ 130,000   

Unamortized discount

      (5,494 )      (8,334 ) 
  

 

 

    

 

 

  

Net carrying amount

    $ 124,506      $ 121,666   
  

 

 

    

 

 

  

Additional paid-in-capital, net of tax

    $ 8,555      $ 8,555   
  

 

 

    

 

 

  

 

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

         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

For the years ended December 31, 2013 and 2012, CBIZ recognized interest expense on the 2010 Notes and the 2006 Notes as follows (in thousands):

 

     2013      2012  

Contractual coupon interest

    $ 6,361       $ 6,361   

Amortization of discount

      2,840         2,638   

Amortization of deferred financing costs

      720         720   
  

 

 

     

 

 

  

Total interest expense

    $ 9,921       $ 9,719   
  

 

 

     

 

 

  
Summary of Unsecured Credit Facility

facility. Rates for the years ended December 31, 2013 and 2012 were as follows:

 

     2013    2012

Weighted average rates

    2.99%    3.15%
  

 

   

 

Range of effective rates

    1.88% - 3.91%    2.68% - 3.91%