Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2014

Investments, All Other Investments [Abstract]

The following table summarizes CBIZ’s bond activity for the years ended December 31, 2014 and 2013 (in thousands):


	2014			2013
Fair value at January 1	$	30,011		$	29,776
Purchases		14,089			5,650
Sales		(245	)		(845	)
Maturities and calls		(6,426	)		(4,050	)
Increase (decrease) in bond premium		1,155			(270	)
Fair market value adjustment		(185	)		(250	)

Fair value at December 31	$	38,399		$	30,011

Summary of Outstanding Interest Rate Swap

The following table summarizes CBIZ’s outstanding interest rate swap and its classification in the accompanying Consolidated Balance Sheets at December 31, 2014 and 2013 (in thousands).


	December 31, 2014
	Notional Amount		Fair Value (2)			Balance Sheet Location
Interest rate swap (1)	$	25,000	$	(126	)		Other current and non-current liabilities


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

(1)	Represents interest rate swap with a notional value of $25 million which 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 6.

Summary of Effects of Interest Rate Swap

The following table summarizes the effects of the interest rate swap on CBIZ’s accompanying Consolidated Statements of Comprehensive Income for the years ended December 31, 2014 and 2013 (in thousands):


	Gain recognized in AOCL, net of tax				Loss reclassified from AOCL into expense
	Twelve Months Ended December 31,				Twelve Months Ended December 31,
	2014		2013		2014			2013			Location
Interest rate swap	$	206	$	230	$	(376	)	$	(459	)		Interest expense