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Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2015
Investments, All Other Investments [Abstract]  
Summary of Bond Activity

The following table summarizes CBIZ’s bond activity for the years ended December 31, 2015 and 2014 (in thousands):

 

     2015      2014  

Fair value at January 1

    $ 38,399       $ 30,011   

Purchases

      15,429         14,089   

Sales

      (987 )       (245 ) 

Maturities and calls

      (9,677 )       (6,426 ) 

Increase in bond premium

      172         1,155   

Fair market value adjustment

      (194 )       (185 ) 
  

 

 

     

 

 

  

Fair value at December 31

    $ 43,142       $ 38,399   
  

 

 

     

 

 

  
Summary of Outstanding Interest Rate Swaps

The following table summarizes CBIZ’s outstanding interest rate swaps and its classification in the accompanying Consolidated Balance Sheets at December 31, 2015 and 2014 (in thousands):

 

     December 31, 2015  
     Notional
Amount		      Fair
Value (2)		      Balance Sheet
Location		  

Interest rate swaps (1)

    $ 50,000       $ 240         Other non-current assets   
     December 31, 2014  
     Notional
Amount		      Fair
Value (2)		      Balance Sheet
Location		  

Interest rate swap (3)

    $ 25,000       $ (126 )       Other current liabilities   

 

(1) Represents interest rate swaps entered into during the fourth quarter of 2015 with notional values of $10.0 million, $15.0 million and $25.0 million, with maturity tenors of 2, 3 and 5 years, respectively. Under the terms of the interest rate swap, CBIZ pays interest at a fixed rate of 0.885% (2-year), 1.155% (3-year) and 1.300% (5-year) plus applicable margin as stated in the agreement, and receives interest that varies with the one-month LIBOR.

 

(2) See additional disclosures regarding fair value measurements in Note 6 to the accompanying consolidated financial statements.

 

(3) Represents the $25.0 million notional value interest rate swap that expired in June 2015.
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, 2015 and 2014 (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,		      Location  
     2015      2014      2015      2014     

Interest rate swap

    $ 230       $ 206       $ (214 )     $ (376 )       Interest expense