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Debt and Financing Arrangements (Tables)
 12 Months Ended
Dec. 31, 2016
Debt Disclosure [Abstract]  
Summary of Unsecured Credit Facility

Rates for the years ended December 31, 2016 and 2015 were as follows (includes bank debt and interest rate swaps):

 

 

 

2016

 

 

2015

 

Weighted average rates

 

 

2.43%

 

 

 

2.02%

 

Range of effective rates

 

1.82% - 3.75%

 

 

1.65% - 3.50%

 

 
Summary of Recognized Interest Expense

For the years ended December 31, 2016, 2015 and 2014, CBIZ recognized interest expense as follows (in thousands):

 

 

 

2016

 

 

2015

 

 

2014

 

Credit facility (1)

 

$

6,585

 

 

$

4,320

 

 

$

4,033

 

2010 Notes

 

 

—

 

 

 

4,559

 

 

 

9,068

 

2006 Notes (2)

 

 

8

 

 

 

23

 

 

 

23

 

Balance at December 31

 

$

6,593

 

 

$

8,902

 

 

$

13,124

 

 

(1)

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

(2)

During the second quarter of 2016, we redeemed the remaining 3.125% Convertible Senior Subordinated Notes (the “2006 Notes”) for $750 thousand in cash plus accrued interest under an optional early redemption provision.