Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2015

Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table summarizes CBIZ’s assets and liabilities at December 31, 2015 and 2014 that are measured at fair value on a recurring basis subsequent to initial recognition and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value (in thousands):


	Level		December 31, 2015			December 31, 2014
Deferred compensation plan assets		1	$	64,245		$	60,290
Corporate and municipal bonds		1	$	43,142		$	38,399
Interest rate swap		2	$	240		$	(126	)
Contingent purchase price liabilities		3	$	(24,817	)	$	(33,368	)

Change in Level 3 Fair Values of Contingent Purchase Price Liability

The following table summarizes the change in fair value of the Company’s contingent purchase price liabilities identified as Level 3 for the years ended December 31, 2015 and 2014 (pre-tax basis, in thousands):


	Contingent Purchase Price Liabilities
Beginning balance — January 1, 2014	$	(25,196	)
Additions from business acquisitions		(19,353	)
Payment of contingent purchase price payable		5,230
Change in fair value of contingency		5,951

Balance — December 31, 2014	$	(33,368	)
Additions from business acquisitions		(8,522	)
Settlement of contingent purchase price payable		14,364
Change in fair value of contingency		2,709

Balance — December 31, 2015	$	(24,817	)

Financial Instruments

The following table presents financial instruments that are not carried at fair value but which require fair value disclosure as of December 31, 2015 and 2014 (in thousands):


	December 31, 2015				December 31, 2014
	Carrying Value		Fair Value		Carrying Value		Fair Value
2006 Notes	$	750	$	750	$	750	$	750
2010 Notes	$	—	$	—	$	95,819	$	118,157