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Debt and Financing Arrangements (Tables)
 12 Months Ended
Dec. 31, 2015
Debt Disclosure [Abstract]  
Summary of Unsecured Credit Facility

Rates for the years ended December 31, 2015 and 2014 were as follows (includes bank debt and interest rate swaps):

 

     2015     2014  

Weighted average rates

      2.02%        2.44%   
  

 

 

    

 

 

  

Range of effective rates

      1.65% - 3.50%        1.87% - 4.00%   
  

 

 

    

 

 

  
Summary of Carrying Amount of Debt and Equity Components

The carrying amount of the 2010 Notes at December 31, 2015 and 2014 was as follow (in thousands):

 

     2015      2014  

Principal amount of notes

    $ —       $ 97,650   

Unamortized discount

      —         (1,831 ) 
  

 

 

     

 

 

  

Net carrying amount

    $ —       $ 95,819   
  

 

 

     

 

 

  
Summary of Recognized Interest Expense

For the years ended December 31, 2015 and 2014, CBIZ recognized interest expense as follows (in thousands):

 

     2015      2014      2013  

2010 Notes (1)

    $ 4,559       $ 9,068       $ 9,898   

Credit facility

      4,320         4,033         5,453   

2006 Notes

      23         23         23   
  

 

 

     

 

 

     

 

 

  

Balance at December 31

    $ 8,902       $ 13,124       $ 15,374   
  

 

 

     

 

 

     

 

 

  

 

(1) Components of interest expense related to the 2010 Notes include the contractual coupon interest, amortization of discount and amortization of deferred financing costs.

 

(2) Components of interest expense related to the credit facility include amortization of deferred financing costs, commitment fees and line of credit fees.