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Debt and Financing Arrangements (Tables)
 6 Months Ended
Jun. 30, 2016
Debt Disclosure [Abstract]  
Summary of Unsecured Credit Facility

Rates for the six months ended June 30, 2016 and 2015 were as follows:

 

 

 

Six Months Ended

 

 

 

June 30,

 

 

 

2016

 

 

2015

 

Weighted average rates

 

 

2.38%

 

 

 

2.17%

 

Range of effective rates

 

1.82% - 3.50%

 

 

1.88% - 3.25%

 

 
Summary of Recognized Interest Expense

During the three and six months ended June 30, 2016 and 2015, CBIZ recognized interest expense as follows (in thousands):

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2016

 

 

2015

 

 

2016

 

 

2015

 

Credit facility (1)

 

$

1,731

 

 

$

1,165

 

 

$

3,251

 

 

$

2,216

 

2010 Notes (2)

 

 

—

 

 

 

1,677

 

 

 

—

 

 

 

3,597

 

2006 Notes

 

 

2

 

 

 

6

 

 

 

8

 

 

 

12

 

Total interest expense

 

$

1,733

 

 

$

2,848

 

 

$

3,259

 

 

$

5,825

 

 

 

(1)

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

 

(2)

Components of interest expense related to the 4.875% Convertible Senior Subordinated Notes (the “2010 Notes”) include the contractual coupon interest, amortization of discount and amortization of deferred financing costs.