CBIZ (CBZ) 10-Q 2 Nov 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Oct. 29, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Trading Symbol	CBZ
Entity Registrant Name	CBIZ, Inc.
Entity Central Index Key	0000944148
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Title of 12(b) Security	Common Stock, $0.01 Par Value
Security Exchange Name	NYSE
Entity File Number	1-32961
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	22-2769024
Entity Address, Address Line One	6050 Oak Tree Boulevard
Entity Address, Address Line Two	South
Entity Address, Address Line Three	Suite 500
Entity Address, City or Town	Cleveland
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	44131
City Area Code	216
Local Phone Number	447-9000
Document Transition Report	false
Document Quarterly Report	true
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		54,531,473

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 6,113	$ 567
Restricted cash	25,275	29,595
Accounts receivable, net	248,886	222,031
Other current assets	21,862	24,325
Current assets before funds held for clients	302,136	276,518
Funds held for clients	123,755	179,502
Total current assets	425,891	456,020
Non-current assets:
Property and equipment, net	41,733	39,412
Goodwill and other intangible assets, net	695,562	654,671
Assets of deferred compensation plan	113,749	106,851
Operating lease right-of-use asset, net	143,880	140,831
Other non-current assets	4,301	2,989
Total non-current assets	999,225	944,754
Total assets	1,425,116	1,400,774
Current liabilities:
Accounts payable	50,592	68,510
Income taxes payable	10,175	57
Accrued personnel costs	55,326	59,898
Contingent purchase price liability	15,430	16,193
Operating lease liability	29,232	29,030
Other current liabilities	14,082	13,218
Current liabilities before client fund obligations	174,837	186,906
Client fund obligations	123,219	179,020
Total current liabilities	298,056	365,926
Non-current liabilities:
Bank debt	110,000	105,500
Debt issuance costs	(897)	(1,167)
Total long-term debt	109,103	104,333
Income taxes payable	3,308	3,053
Deferred income taxes, net	9,332	11,720
Deferred compensation plan obligations	113,749	106,851
Contingent purchase price liability	18,678	15,896
Operating lease liability	139,257	132,018
Other non-current liabilities	15,629	1,739
Total non-current liabilities	409,056	375,610
Total liabilities	707,112	741,536
STOCKHOLDERS' EQUITY
Common stock	1,338	1,331
Additional paid in capital	731,696	714,704
Retained earnings	557,969	479,576
Treasury stock	(570,504)	(535,693)
Accumulated other comprehensive loss	(2,495)	(680)
Total stockholders’ equity	718,004	659,238
Total liabilities and stockholders’ equity	$ 1,425,116	$ 1,400,774

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement Of Income And Comprehensive Income [Abstract]
Revenue	$ 238,389	$ 239,790	$ 752,787	$ 745,286
Operating expenses	204,760	209,146	613,603	622,790
Gross margin	33,629	30,644	139,184	122,496
Corporate general and administrative expenses	11,339	11,670	32,988	33,916
Operating income	22,290	18,974	106,196	88,580
Other income (expense):
Interest expense	(974)	(1,521)	(4,167)	(4,509)
(Loss) gain on sale of operations, net	(74)	(145)	78	402
Other income, net	5,914	6,767	3,450	12,716
Total other income (expense), net	4,866	5,101	(639)	8,609
Income from continuing operations before income tax expense	27,156	24,075	105,557	97,189
Income tax expense	7,060	6,069	27,120	25,004
Income from continuing operations	20,096	18,006	78,437	72,185
Loss from discontinued operations, net of tax	(19)	(200)	(44)	(318)
Net income	$ 20,077	$ 17,806	$ 78,393	$ 71,867
Earnings (loss) per share Basic:
Continuing operations	$ 0.37	$ 0.33	$ 1.44	$ 1.33
Discontinued operations				(0.01)
Net income	0.37	0.33	1.44	1.32
Earnings (loss) per share Diluted:
Continuing operations	0.36	0.32	1.41	1.29
Discontinued operations				(0.01)
Net income	$ 0.36	$ 0.32	$ 1.41	$ 1.28
Basic weighted average shares outstanding	54,403	54,268	54,372	54,215
Diluted weighted average shares outstanding	55,360	55,816	55,473	55,778
Comprehensive income:
Net income	$ 20,077	$ 17,806	$ 78,393	$ 71,867
Other comprehensive loss, net of tax	(186)	(129)	(1,815)	(470)
Comprehensive income	$ 19,891	$ 17,677	$ 76,578	$ 71,397

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Retained Earnings [Member]Cumulative Effect Period Of Adoption Adjustment Member [Member]	Accumulated Other Comprehensive (Loss) Gain [Member]	Accumulated Other Comprehensive (Loss) Gain [Member]Cumulative Effect Period Of Adoption Adjustment Member [Member]
Balance, Amount at Dec. 31, 2018	$ 593,663	$ 1,314	$ (508,530)	$ 692,398	$ 408,963		$ (482)
Balance, Shares at Dec. 31, 2018		131,404	76,332
Cumulative-effect of accounting changes adjustment at Dec. 31, 2018						$ (101)		$ 101
Net income	71,867				71,867
Other comprehensive loss	(470)						(470)
Share repurchases	(22,826)		$ (22,826)
Share repurchases, Shares			1,144
Restricted stock		$ 2		(2)
Restricted stock, Shares		228
Stock options exercised	4,855	$ 6		4,849
Stock options exercised, Shares		558
Stock-based compensation	5,258			5,258
Business acquisitions	3,949	$ 2		3,947
Business acquisitions, Shares		195
Balance, Amount at Sep. 30, 2019	656,296	$ 1,324	$ (531,356)	706,450	480,729		(851)
Balance, Shares at Sep. 30, 2019		132,385	77,476
Balance, Amount at Jun. 30, 2019	634,060	$ 1,321	$ (530,262)	700,800	462,923		(722)
Balance, Shares at Jun. 30, 2019		132,108	77,428
Net income	17,806				17,806
Other comprehensive loss	(129)						(129)
Share repurchases	(1,094)		$ (1,094)
Share repurchases, Shares			48
Stock options exercised	1,812	$ 2		1,810
Stock options exercised, Shares		180
Stock-based compensation	1,859			1,859
Business acquisitions	1,982	$ 1		1,981
Business acquisitions, Shares		97
Balance, Amount at Sep. 30, 2019	656,296	$ 1,324	$ (531,356)	706,450	480,729		(851)
Balance, Shares at Sep. 30, 2019		132,385	77,476
Balance, Amount at Dec. 31, 2019	659,238	$ 1,331	$ (535,693)	714,704	479,576		(680)
Balance, Shares at Dec. 31, 2019		133,056	77,637
Cumulative-effect of accounting changes adjustment at Dec. 31, 2019	479,576
Net income	78,393				78,393
Other comprehensive loss	(1,815)						(1,815)
Share repurchases	(34,811)		$ (34,811)
Share repurchases, Shares			1,409
Restricted stock, Shares		40
Stock options exercised	$ 4,719	$ 5		4,714
Stock options exercised, Shares	442	442
Stock-based compensation	$ 6,765			6,765
Business acquisitions	5,515	$ 2		5,513
Business acquisitions, Shares		221
Balance, Amount at Sep. 30, 2020	718,004	$ 1,338	$ (570,504)	731,696	557,969		(2,495)
Balance, Shares at Sep. 30, 2020		133,759	79,046
Balance, Amount at Jun. 30, 2020	695,220	$ 1,335	$ (566,762)	725,064	537,892		(2,309)
Balance, Shares at Jun. 30, 2020		133,536	78,881
Net income	20,077				20,077
Other comprehensive loss	(186)						(186)
Share repurchases	(3,742)		$ (3,742)
Share repurchases, Shares			165
Stock options exercised	1,492	$ 2		1,490
Stock options exercised, Shares		115
Stock-based compensation	2,485			2,485
Business acquisitions	2,658	$ 1		2,657
Business acquisitions, Shares		108
Balance, Amount at Sep. 30, 2020	$ 718,004	$ 1,338	$ (570,504)	$ 731,696	$ 557,969		$ (2,495)
Balance, Shares at Sep. 30, 2020		133,759	79,046

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net income	$ 78,393	$ 71,867
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	17,277	16,610
Bad debt expense, net of recoveries	3,166	1,974
Adjustment to contingent earnout liability	(80)	322
Stock-based compensation expense	6,765	5,258
Excess tax benefits from share based payment arrangements	(1,674)	(1,999)
Deferred income taxes	(1,809)	3,209
Other, net	310	185
Changes in assets and liabilities, net of acquisitions and divestitures:
Accounts receivable, net	(27,913)	(54,025)
Other assets	1,823	495
Accounts payable	(18,404)	5,045
Income taxes payable	12,048	8,917
Accrued personnel costs	(4,862)	(9,160)
Other liabilities	16,822	1,020
Operating cash flows provided by continuing operations	81,862	49,718
Operating cash flows used in discontinued operations	(66)	(304)
Net cash provided by operating activities	81,796	49,414
Cash flows from investing activities:
Business acquisitions and purchases of client lists, net of cash acquired	(33,782)	(11,740)
Purchases of client fund investments	(3,447)	(21,171)
Proceeds from the sales and maturities of client fund investments	32,967	17,758
Increase in funds held for clients	3,250	406
Additions to property and equipment, net	(9,486)	(10,279)
Other	1,007	335
Net cash used in investing activities	(9,491)	(24,691)
Cash flows from financing activities:
Proceeds from bank debt	550,454	496,698
Payment of bank debt	(545,954)	(472,198)
Payment for acquisition of treasury stock	(34,123)	(22,826)
Decrease in client funds obligations	(57,517)	(45,818)
Proceeds from exercise of stock options	4,719	4,855
Payment of contingent consideration for acquisitions	(11,242)	(16,850)
Other, net	(395)	(334)
Net cash used in financing activities	(94,058)	(56,473)
Net decrease in cash, cash equivalents and restricted cash	(21,753)	(31,750)
Cash, cash equivalents and restricted cash at beginning of year	146,505	130,554
Cash, cash equivalents and restricted cash at end of period	124,752	98,804
Reconciliation of cash, cash equivalents and restricted cash to the Consolidated Balance Sheets:
Cash and cash equivalents	6,113	2,723
Restricted cash	25,275	35,739
Cash equivalents included in funds held for clients	93,364	60,342
Cash, cash equivalents and restricted cash at end of period	$ 124,752	$ 98,804

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Selected Terms Used in Notes to the Consolidated Financial Statements ASA – Administrative Service Agreement ASC – Accounting Standards Codification ASU – Accounting Standards Update CECL– Current expected credit losses CPA firm – Certified Public Accounting firm FASB – The Financial Accounting Standards Board GAAP – United States Generally Accepted Accounting Principles LIBOR – London Interbank Offered Rate SEC – United States Securities and Exchange Commission Topic 326 – ASU No. 2016-13, Financial Instruments – Credit Losses Description of Business: CBIZ, Inc. is a diversified services company which, acting through its subsidiaries, has been providing professional business services since 1996, primarily to small and medium-sized businesses, as well as individuals, governmental entities, and not-for-profit enterprises throughout the United States and parts of Canada. CBIZ, Inc. manages and reports its operations along three practice groups: Financial Services, Benefits and Insurance Services and National Practices. A further description of products and services offered by each of the practice groups is provided in Note 13. Segment Disclosures, to the accompanying consolidated financial statements. Basis of Consolidation: The accompanying unaudited condensed consolidated financial statements include the operations of CBIZ, Inc. and all of its wholly-owned subsidiaries (“CBIZ”, the “Company”, “we”, “us”, or “our”), after elimination of all intercompany balances and transactions. These condensed consolidated financial statements do not reflect the operations or accounts of variable interest entities as the impact is not material to the financial condition, results of operations or cash flows of CBIZ. Unaudited Interim Financial Statements: The condensed consolidated financial statements have been prepared in accordance with GAAP and applicable rules and regulations of the SEC regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. As such, the information included in this quarterly report on Form 10-Q should be read in conjunction with the consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2019. In the opinion of CBIZ management, the accompanying condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial condition, results of operations, and cash flows for the interim periods presented, but are not necessarily indicative of the results of operations to be anticipated for the full year ending December 31, 2020. Use of Estimates: The preparation of condensed consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the amounts reported and disclosed in the financial statements and the accompanying notes. Changes in circumstances could cause actual results to differ materially from these estimates. Changes in Accounting Policies: Except for the adoption of Topic 326, which required a change in our accounting policy, we have consistently applied the accounting policies for the periods presented as described in Note 1, Basis of Presentation and Significant Accounting Policies, to the consolidated financial statements contained in our Annual Report on Form 10-K for the fiscal year ended December 31, 2019. Effective January 1, 2020, we changed our accounting policy for the valuation of accounts receivable allowances and available-for-sale securities as a result of adopting Topic 326 as described in Note 2, New Accounting Pronouncements.

New Accounting Pronouncements

New Accounting Pronouncements	9 Months Ended
	Sep. 30, 2020
Accounting Changes And Error Corrections [Abstract]
New Accounting Pronouncements	NOTE 2. New Accounting Pronouncements The FASB ASC is the sole source of authoritative GAAP other than the SEC issued rules and regulations that apply only to SEC registrants. The FASB issues an accounting standard to communicate changes to the FASB codification. We assess and review the impact of all accounting standards. Any accounting standards not listed below were reviewed and determined to be either not applicable or are not expected to have a material impact on the consolidated financial statements of the Company. Accounting Standards Adopted in 2020 Credit Losses: Effective January 1, 2020, we adopted Topic 326, which replaces the incurred loss model with an expected loss model that is referred to as the current expected credit loss model. The CECL model requires the Company to immediately recognize an estimate of credit losses that are expected to occur over the life of financial instruments recorded at amortized cost, including trade receivables. Topic 326 also amends the other-than-temporary impairment model for available-for-sale securities by requiring the recognition of credit loss impairments as an allowance rather than a write-down on available-for-sale securities. The length of time a security has been in an unrealized loss position will no longer impact the determination of whether a credit loss exists. For financial instruments recorded at amortized cost, we did not recognize a cumulative-effect adjustment to retained earnings as the adoption of Topic 326 did not have a material impact on our consolidated financial statements. For available-for-sale securities, the updated guidance was applied prospectively. Fair Value Measurement: On January 1, 2020, we adopted ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement. This standard amends existing fair value measurement disclosure requirements by adding, changing, or removing certain disclosures. The adoption of this guidance did not have a material impact on our consolidated financial statements. Income Taxes: On January 1, 2020, we adopted ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The amendments also improve consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. The adoption of this guidance did not have a material impact on our consolidated financial statements. Accounting Standards Issued But Not Yet Adopted Reference Rate Reform : In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this ASU are effective for all entities through December 31, 2022. We are currently evaluating the effect of this new standard on our consolidated financial statements.

Accounts Receivable, Net

Accounts Receivable, Net	9 Months Ended
	Sep. 30, 2020
Receivables [Abstract]
Accounts Receivable, Net	Note 3. Accounts Receivable, Net Accounts receivable, less the allowance for doubtful accounts, represents the net amount expected to be collected. Assessing the collectability of the receivables (billed and unbilled) requires management judgment based on a combination of factors, including but not limited to, an evaluation of our historical incurred loss experience, credit-worthiness of our clients, age of the trade receivable balance, current economic conditions that may affect a client’s ability to pay, and reasonable and supportable forecasts. Receivables are charged-off against the allowance when the balance is deemed uncollectible. We considered the impact of the COVID-19 pandemic, the resulting macroeconomic conditions, client’s location, industry, and financial position in our estimation of the allowance for doubtful accounts. During the nine month period ended September 30, 2020, we recorded bad debt expense due to the COVID-19 pandemic of $2.2 million. We did not recognize any bad debt expense related to the COVID-19 pandemic for the three month period ended September 30, 2020. Accounts receivable, net, at September 30, 2020 and December 31, 2019 were as follows (in thousands): September 30, December 31, 2020 2019 Trade accounts receivable $ 173,980 $ 176,375 Unbilled revenue, at net realizable value 89,851 60,035 Total accounts receivable 263,831 236,410 Allowance for doubtful accounts (14,945 ) (14,379 ) Accounts receivable, net $ 248,886 $ 222,031 Changes to the allowance for doubtful accounts for the nine months ended September 30, 2020 are as follows (in thousands): September 30, 2020 Balance at beginning of period $ (14,379 ) Provision for losses (6,658 ) Charge-offs, net of recoveries 6,092 Allowance for doubtful accounts $ (14,945 )

Debt and Financing Arrangements

Debt and Financing Arrangements	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Debt and Financing Arrangements	Note 4. Debt and Financing Arrangements 2018 Credit Facility - Our primary financing arrangement is the $400 million unsecured credit facility (the “2018 credit facility” or the “credit facility”), which provides us with the capital necessary to meet our working capital needs as well as the flexibility to continue with our strategic initiatives, including business acquisitions and share repurchases. The 2018 credit facility matures in 2023. The balance outstanding under the 2018 credit facility was $110.0 million and $105.5 million at September 30, 2020 and December 31, 2019, respectively. Effective interest rates, including the impact of interest rate swaps associated with the 2018 credit facility, were as follows: Nine Months Ended September 30, 2020 2019 Weighted average rates 2.46% 3.16% Range of effective rates 1.10% - 4.75% 2.12% - 5.50% We had approximately $284.0 million of available funds under the credit facility at September 30, 2020, net of outstanding letters of credit of $1.7 million. As of September 30, 2020, we were in compliance with our debt covenants. Other Line of Credit - We have an unsecured $20.0 million line of credit by and among CBIZ Benefits and Insurance, Inc. and the Huntington National Bank. We utilize this line to support our short-term funding requirements of payroll client fund obligations due to the investment of client funds, rather than liquidating client funds that have already been invested in available-for-sale securities. The line of credit, which was renewed on August 6, 2020 and will terminate on August 5, 2021, did not have a balance outstanding at September 30, 2020. Refer to our Annual Report on Form 10-K for the year ended December 31, 2019 for additional details of our debt and financing arrangements. Interest Expense - Interest expense, including amortization of deferred financing costs, commitment fees, line of credit fees, and other applicable bank charges, was as follows (in thousands): Three Months Ended September 30, 2020 2019 2018 credit facility $ 955 $ 1,498 Other 19 23 Total $ 974 $ 1,521 Nine Months Ended September 30, 2020 2019 2018 credit facility $ 4,112 $ 4,444 Other line of credit 1 — Other 54 65 Total $ 4,167 $ 4,509

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 5. Commitments and Contingencies Letters of Credit and Guarantees - We provide letters of credit to landlords (lessors) of our leased premises in lieu of cash security deposits, which totaled $1.7 million and $1.3 million at September 30, 2020 and December 31, 2019, respectively. In addition, we provide license bonds to various state agencies to meet certain licensing requirements. The amount of license bonds outstanding was $2.3 million at September 30, 2020 and December 31, 2019, respectively. Legal Proceedings - In 2010, CBIZ, Inc. and its subsidiary, CBIZ MHM, LLC (formally, CBIZ Accounting, Tax & Advisory Services, LLC) (the “CBIZ Parties”), were named as defendants in lawsuits filed in the U.S. District Court for the District of Arizona and the Superior Court for Maricopa County, Arizona. The federal court case is captioned Robert Facciola, et al v. Greenberg Traurig LLP, et al, and the state court cases are captioned Victims Recovery, LLC v. Greenberg Traurig LLP, et al, Roger Ashkenazi, et al v. Greenberg Traurig LLP, et al, Mary Marsh, et al v. Greenberg Traurig LLP, et al; and ML Liquidating Trust v. Mayer Hoffman McCann, P.C. (“Mayer Hoffman”), et al. Prior to these suits CBIZ MHM, LLC was named as a defendant in Jeffrey C. Stone v. Greenberg Traurig LLP, et al. These lawsuits arose out of the bankruptcy of Mortgages Ltd., a mortgage lender to developers in the Phoenix, Arizona area. Various other professional firms and individuals not related to the Company were also named defendants in these lawsuits. The lawsuits asserted claims for, among others things, violations of the Arizona Securities Act, common law fraud, and negligent misrepresentation, and sought to hold the CBIZ Parties vicariously liable for Mayer Hoffman’s conduct as Mortgage Ltd.’s auditor, as either a statutory control person under the Arizona Securities Act or a joint venturer under Arizona common law. With the exception of claims being pursued by two plaintiffs from the Ashkenazi lawsuit (“Baldino Group”), all other related matters have been dismissed or settled without payment by the CBIZ Parties. The Baldino Group’s claims, which allege damages of approximately $16.0 million, are currently pending, though no trial date has been set. On September 16, 2016, CBIZ, Inc. and its subsidiary CBIZ Benefits & Insurance Services, Inc. (“CBIZ Benefits”) were named as defendants in a lawsuit filed in the U.S. District Court for the Western District of Pennsylvania. The federal court case is brought by UPMC, d/b/a University of Pittsburgh Medical Center, and a health system it acquired, UPMC Altoona (formerly, Altoona Regional Health System). The lawsuit asserts professional negligence, breach of contract, and negligent misrepresentation claims against CBIZ, CBIZ Benefits and a former employee of CBIZ Benefits in connection with actuarial services provided by CBIZ Benefits to Altoona Regional Health System. The plaintiff now seeks compensatory damages of between $124.0 million and $266.0 million, plus punitive damages. The Court denied CBIZ Benefits’ motion for a summary judgment and trial is set for March 2021. On December 19, 2016, CBIZ Operations, Inc. (“CBIZ Operations”) was named as a defendant in a lawsuit filed by Zotec Partners, LLC (“Zotec”) in the Marion County Indiana Superior Court. After various amendments, the lawsuit asserts claims under Indiana law for securities, statutory and common law fraud or deception, unjust enrichment, breach of contract, and vicarious liability against CBIZ Operations and a former employee of CBIZ MMP in connection with the sale of the CBIZ MMP medical billing practice to Zotec. The plaintiff claims that CBIZ Operations had a duty to disclose the fact, unknown to employees of CBIZ Operations at the time of the transaction, that the former employee had a financial arrangement with a Zotec vendor at the time CBIZ Operations sold CBIZ MMP to Zotec. The plaintiff is now seeking damages of up to $177.0 million out of the $200.0 million transaction price. The Company believes we have strong defenses to these claims and damages demanded. Trial is set for March 2021. We cannot predict the outcome of the above matters or estimate the possible loss or range of possible loss, if any. Although the proceedings are subject to uncertainties inherent in the litigation process and the ultimate disposition of these proceedings is not presently determinable, we intend to vigorously defend these cases. In addition to those items disclosed above, we are, from time to time, subject to claims and lawsuits arising in the ordinary course of business .

Financial Instruments

Financial Instruments	9 Months Ended
	Sep. 30, 2020
Investments All Other Investments [Abstract]
Financial Instruments	Note 6. Financial Instruments Available-For-Sale Debt Securities - In connection with certain services provided by our payroll operations, we collect funds from our clients’ accounts in advance of paying client obligations. These funds held for clients are segregated and invested in accordance with our investment policy, which requires all investments carry an investment grade rating at the time of initial investment. These investments, primarily consisting of corporate and municipal bonds and US treasury bills, are classified as available-for-sale and are included in the “Funds held for clients” line item on the accompanying Consolidated Balance Sheets. The par value of these investments totaled $29.4 million and $58.9 million at September 30, 2020 and December 31, 2019, respectively, and had maturity or callable dates ranging from October 2020 through November 2024. At September 30, 2020, unrealized losses on the securities totaling $0.1 million have not been recognized as a credit loss because the bonds are investment grade quality and management is not required or does not intend to sell prior to an expected recovery in value. The bond issuers continue to make timely principal and interest payments. The following table summarizes activities related to these investments for the nine months ended September 30, 2020 and the twelve months ended December 31, 2019 (in thousands): Nine Months Ended Twelve Months Ended September 30, 2020 December 31, 2019 Fair value at beginning of period $ 60,659 $ 56,556 Purchases 3,447 27,216 Redemptions (22,078 ) (1,686 ) Maturities (10,889 ) (22,272 ) Decrease in bond premium (750 ) (460 ) Fair market value adjustment 2 1,305 Fair value at end of period $ 30,391 $ 60,659 In addition to the available-for-sale securities discussed above, we also held certified deposits and other depository assets in the amount of $2.5 million at December 31, 2019. We did not have any depository items at September 30, 2020. Interest Rate Swaps - We utilize interest rate swaps to manage interest rate risk exposure associated with our floating-rate debt under the 2018 credit facility, or the forecasted acquisition of such liability. We do not purchase or hold any derivative instruments for trading or speculative purposes. In March 2020, we entered into a new interest rate swap with a notional amount of $50 million and a fixed interest rate of 0.885%. Effective June 26, 2020, we terminated an existing interest rate swap with the notional value of $25 million, fixed interest rate of 1.30% and an expiration date of October 2020. Refer to the Annual Report on Form 10-K for the year ended December 31, 2019 for further discussion on our interest rate swaps . As of September 30, 2020, we have four interest rate swaps outstanding. Under the terms of the interest rate swaps, we pay interest at a fixed rate of interest plus applicable margin as stated in the agreement, and receive interest that varies with the one-month LIBOR. The notional value, fixed rate of interest and expiration date of each interest rate swap as of September 30, 2020 was (i) $10 million – 1.120% - February 2021, (ii) $20 million – 1.770% - May 2022, (iii) $15 million – 2.640% - June 2023 and (iv) $50 million - 0.885% - April 2025. Refer to Note 7. Fair Value Measurements, for additional disclosures regarding fair value measurements. The following table summarizes our outstanding interest rate swaps and their classification in the accompanying Consolidated Balance Sheets at September 30, 2020 and December 31, 2019 (in thousands): September 30, 2020 Notional Fair Amount Value Balance Sheet Location Interest rate swaps $ 10,000 $ (37 ) Other current liability Interest rate swaps $ 85,000 $ (2,878 ) Other non-current liabilities December 31, 2019 Notional Fair Amount Value Balance Sheet Location Interest rate swap $ 25,000 $ 66 Other current assets Interest rate swaps $ 45,000 $ (591 ) Other non-current liabilities The following table summarizes the effects of the interest rate swaps on the accompanying Consolidated Statements of Comprehensive Income for the three and nine months ended September 30, 2020 and 2019 (in thousands): Loss Recognized in AOCL, net of tax (Loss) Gain Reclassified from AOCL into Expense Three Months Ended Three Months Ended September 30, September 30, 2020 2019 2020 2019 Interest rate swap $ (136 ) $ (194 ) $ (293 ) $ 98 Nine Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Interest rate swap $ (1,796 ) $ (1,351 ) $ (676 ) $ 371

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 7. Fair Value Measurements The following table summarizes our assets and (liabilities) at September 30, 2020 and December 31, 2019, respectively, 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 us to determine such fair value (in thousands): Level September 30, 2020 December 31, 2019 Deferred compensation plan assets 1 $ 113,749 $ 106,851 Available-for-sale debt securities 1 30,391 60,659 Deferred compensation plan liabilities 1 (113,749 ) (106,851 ) Interest rate swaps 2 (2,915 ) (525 ) Contingent purchase price liabilities 3 (34,108 ) (32,089 ) During the nine months ended September 30, 2020 and 2019, there were no transfers between the valuation hierarchy Levels 1, 2 and 3. The following table summarizes the change in Level 3 fair values of our contingent purchase price liabilities for the nine months ended September 30, 2020 and 2019 (pre-tax basis) (in thousands): 2020 2019 Beginning balance – January 1 $ (32,089 ) $ (39,708 ) Additions from business acquisitions (14,953 ) (10,150 ) Settlement of contingent purchase price liabilities 12,854 18,311 Change in fair value of contingencies 612 222 Change in net present value of contingencies (532 ) (544 ) Ending balance – September 30 $ (34,108 ) $ (31,869 ) Contingent purchase price liabilities result from our business acquisitions and are recorded at fair value at the time of acquisition and are presented as “Contingent purchase price liability — current” and “Contingent purchase price liability — non-current” in the accompanying Consolidated Balance Sheets. We estimate the fair value of our contingent purchase price liabilities using a probability-weighted discounted cash flow model. This fair value measure is based on significant inputs not observed in the market and thus represents a Level 3 measurement. Fair value measurements characterized within Level 3 of the fair value hierarchy are measured based on unobservable inputs that are supported by little or no market activity and reflect our own assumptions in measuring fair value. We probability weight risk-adjusted estimates of future performance of acquired businesses, then calculate the contingent purchase price based on the estimates and discount them to present value representing management’s best estimate of fair value. The fair value of the contingent purchase price liabilities are reassessed quarterly based on assumptions provided by practice group leaders and business unit controllers together with our corporate finance department. Any change in the fair value estimate is recorded in the earnings of that period. Refer to Note 11. Business Combinations, for further discussion of our acquisitions and contingent purchase price liabilities. The carrying amounts of our cash and cash equivalents, accounts receivable and accounts payable approximate fair value because of the short maturity of these instruments, and the carrying value of bank debt approximates fair value as the interest rate on the bank debt is variable and approximates current market rates. As a result, the fair value measurement of our bank debt is considered to be Level 2.

Other Comprehensive Loss

Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Other Comprehensive Loss	Note 8 . Other Comprehensive LOSS The following table is a summary of other comprehensive loss and discloses the tax impact of each component of other comprehensive loss for the three and nine months ended September 30, 2020 and 2019 (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Net unrealized (loss) gain on available-for-sale securities, net of income taxes (1) $ (46 ) $ 72 $ (1 ) $ 894 Net unrealized loss on interest rate swaps, net of income taxes (2) (136 ) (194 ) (1,796 ) (1,351 ) Foreign currency translation (4 ) (7 ) (18 ) (13 ) Total other comprehensive loss $ (186 ) $ (129 ) $ (1,815 ) $ (470 ) (1) Net of income tax (benefit) expense of ($17) and $27 for the three months ended September 30, 2020 and 2019, respectively, and net of income tax expense of $2 and $331 for the nine months ended September 30, 2020 and 2019, respectively. (2) Net of income tax benefit of $45 and $61 for the three months ended September 30, 2020 and 2019, respectively, and net of income tax benefit of $579 and $419 for the nine months ended September 30, 2020 and 2019, respectively. Accumulated other comprehensive loss, net of tax, was approximately $2.5 million and $0.7 million as of September 30, 2020 and December 31, 2019, respectively. Accumulated other comprehensive loss consisted of adjustments, net of tax, for unrealized gains and losses on available-for-sale securities and interest rate swaps, and foreign currency translation.

Employee Stock Plans

Employee Stock Plans	9 Months Ended
	Sep. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Employee Stock Plans	Note 9. Employee STOCK Plans The 2019 Stock Omnibus Incentive Plan (the “2019 Plan”), which expires in 2029, permits the grant of various forms of stock-based awards. The terms and vesting schedules for the stock-based awards vary by type and date of grant. A maximum of 3.1 million stock options, restricted stock or other stock-based compensation awards may be granted. Shares subject to award under the 2019 Plan may be either authorized but unissued shares of our common stock or treasury shares. Refer to the Annual Report on Form 10-K for the year ended December 31, 2019 for further discussion on the 2019 Plan. Compensation expense for stock-based awards recognized during the three and nine months ended September 30, 2020 and 2019 was as follows (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Stock options $ 615 $ 425 $ 1,403 $ 1,423 Restricted stock units and awards 1,266 1,146 3,761 3,228 Performance share units 604 288 1,601 607 Total stock-based compensation expense $ 2,485 $ 1,859 $ 6,765 $ 5,258 Stock Options and Restricted Stock Units and Awards – The following table presents our stock options and restricted stock units and awards activity during the nine months ended September 30, 2020 (in thousands, except per share data): Stock Options Restricted Stock Units and Awards Number of Options Weighted Average Exercise Per Share Number of Shares Weighted Grant-Date Fair Value (1) Outstanding at beginning of year 2,412 $ 13.58 577 $ 17.87 Granted 50 $ 24.62 178 $ 24.48 Exercised or released (442 ) $ 10.68 (276 ) $ 16.74 Expired or canceled (8 ) $ 18.15 (9 ) $ 20.96 Outstanding at September 30, 2020 2,012 $ 14.47 470 $ 20.97 Exercisable at September 30, 2020 1,540 $ 13.34 (1) Represents weighted average market value of the shares; awards are granted at no cost to the recipients. CBIZ utilized the Black-Scholes-Merton options pricing model to determine the fair value of stock options on the date of grant. The per-share fair value of stock options granted on August 6, 2020 was $5.79. The following weighted average assumptions were utilized: Nine Months Ended September 30, 2020 Expected volatility (1) 27.27 % Expected option life (years) (2) 4.67 Risk-free interest rate (3) 0.19 % Expected dividend yield (4) 0.00 % (1) The expected volatility assumption was determined based upon the historical volatility of CBIZ’s stock price, using daily price intervals. (2) The expected option life was determined based upon CBIZ’s historical data using a midpoint scenario, which assumes all options are exercised halfway between the expiration date and the weighted average time it takes the option to vest. (3) The risk-free interest rate assumption was based upon zero-coupon U.S. treasury bonds with a term approximating the expected life of the respective options. (4) The expected dividend yield assumption was determined in view of CBIZ’s historical and estimated dividend payouts. CBIZ does not expect to change its dividend payout policy in the foreseeable future. Performance Share Units (“PSUs”) – PSUs are earned based on our financial performance over a contractual term of three years and the associated expense is recognized over that period based on the fair value of the award. A three-year The following table presents our PSU award activity during the nine months ended September 30, 2020 (in thousands, except per share data): Performance Share Units Weighted Average Grant-Date Fair Value Per Unit Outstanding at beginning of year 200 $ 19.82 Granted 132 $ 25.75 Vested — $ — Adjustments for performance results — $ — Canceled (8 ) $ 22.14 Outstanding at September 30, 2020 324 $ 22.17

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Earnings Per Share	Note 10. Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share from continuing operations for the three and nine months ended September 30, 2020 and 2019 (in thousands, except per share data). Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Numerator: Income from continuing operations $ 20,096 $ 18,006 $ 78,437 $ 72,185 Denominator: Basic Weighted average common shares outstanding 54,403 54,268 54,372 54,215 Diluted Stock options (1) 738 1,279 825 1,267 Restricted stock awards (1) 135 185 192 212 Contingent shares (2) 84 84 84 84 Diluted weighted average common shares outstanding (3) 55,360 55,816 55,473 55,778 Basic earnings per share from continuing operations $ 0.37 $ 0.33 $ 1.44 $ 1.33 Diluted earnings per share from continuing operations $ 0.36 $ 0.32 $ 1.41 $ 1.29 (1) A total of 0.3 million and 0.2 million share based awards were excluded from the calculation of diluted earnings per share for the three and nine months ended September 30, 2020, respectively, and a total of 0.5 million and 0.5 million share based awards were excluded from the calculation of diluted earnings per share for the three and nine months ended September 30, 2019, respectively, as their effect would be anti-dilutive. (2) Contingent shares represent additional shares to be issued for purchase price earned by former owners of businesses acquired by us once future considerations have been met. Refer to Note 11. Business Combinations, for further details. (3) The denominator used in calculating diluted earnings per share did not include 0.3 million performance share units for both the three and nine months ended September 30, 2020, and the denominator used in calculating diluted earnings per share did not include 0.2 million performance share units for both the three and nine months ended September 30, 2019. The performance conditions associated with these performance share units were not met and consequently none of these performance share units were considered as issuable for the three and nine months ended September 30, 2020 and 2019.

Business Combinations

Business Combinations	9 Months Ended
	Sep. 30, 2020
Business Combinations [Abstract]
Business Combinations	Note 11. Business combinations Our acquisition strategy focuses on businesses with a leadership team that is committed to best in class culture, extraordinary client service and cross-serving potential. CBIZ has a long history of acquiring businesses that share common cultural values with us and provide value-added services to the small and midsize business market. The valuation of any business is a subjective process and includes industry, geography, profit margins, expected cash flows, client retention, nature of recurring or non-recurring project-based work, growth rate assumptions and competitive market conditions. During the nine months ended September 30, 2020, we completed the following acquisitions: • Effective February 1, 2020, we acquired substantially all the assets of Alliance Insurance Services, Inc. (“Alliance”), a provider of insurance and advisory services based in Washington, DC. Operating results will be reported in the Benefits and Insurance Services practice group. • Effective February 1, 2020, we acquired substantially all the assets of Pension Dynamics Company, LLC (“PD”), a full-service retirement and benefits plan advisor based in Pleasant Hill, California. Operating results will be reported in the Benefits and Insurance Services practice group. • Effective February 1, 2020, we acquired substantially all the assets of Sunshine Systems (“Sunshine”), a payroll solutions provider based in Massachusetts. Operating results will be reported in the Benefits and Insurance Services practice group. • Effective July 1, 2020, we acquired substantially all the assets of Prince-Wood Insurance, L.L.C. (“PWI”), a provider of financial, insurance and advisory services based in Woodbridge, Virginia. Operating results will be reported in the Benefits and Insurance practice group • Effective September 1, 2020, we acquired substantially all the assets of ARC Consulting LLC and ARC Placement Group LLC (collectively “ARC”), a provider of financial, insurance and advisory services based in San Francisco, California. Operating results will be reported in the Financial Services practice group Aggregate consideration for these acquisitions consisted of approximately $35.5 million in cash, $3.5 million in our common stock and $16.3 million in contingent consideration. Under the terms of the acquisition agreements, a portion of the purchase price is contingent on future performance of the business acquired. The maximum potential undiscounted amount of all future payments for 2020 acquisitions that we could be required to make under the contingent arrangements is $18.7 million. As of September 30, 2020, the aggregated fair value of contingent consideration related to these acquisitions was $16.4 million, of which $5.0 million was recorded in Contingent purchase price liability – current and $11.4 million was recorded in Contingent purchase price liability – non-current in the accompanying Consolidated Balance Sheets at September 30, 2020. Refer to Note 7. Fair Value Measurements, for additional information regarding contingent purchase price liability fair value and fair value adjustments. Annualized revenue from the acquired businesses is estimated to be approximately $24.6 million. Pro forma results of operations for these acquisitions have not been presented because the effects of the acquisitions were not significant to our Income from continuing operations before income taxes. During the nine months ended September 30, 2019, we have acquired substantially all of the assets of the following businesses: • Effective January 1, 2019, we acquired substantially all of the assets of Wenner Group, LLC (“Wenner”), located in Denver, Colorado. Wenner is a full service accounting, tax, compliance and financial consulting firm. Wenner is included as a component of our Financial Services practice group. • Effective July 1, 2019, we acquired substantially all of the assets of Paydayta, Inc. (d.b.a. Paytime) (“Paytime”), an Ohio-based payroll service provider. Paytime is included as a component of our Benefit and Insurance Services practice group. • Effective July 1, 2019, we acquired substantially all of the assets of Gavion, LLC (“Gavion”), a registered investment advisor based in Memphis, Tennessee. Gavion provides investment-consulting services to a diverse base of institutional clients. Gavion is included as a component of our Benefit and Insurance Services practice group. • Effective August 1, 2019, we acquired substantially all of the assets of QBA Benefits, LLC. (“QBA”), an employee benefits agency based in Cleveland, Ohio. QBA provides employee benefits related services to small and mid-sized clients across multiple industries such as services, technology, energy, and manufacturing. QBA is included as a component of our Benefit and Insurance Services practice group. • Effective August 1, 2019, we acquired substantially all of the assets of Ericson CPAs (“Ericson”), an accounting firm based in San Luis Obispo, California. Ericson provides tax compliance, consulting, and planning services to a diverse base of clients. Ericson is included as a component of our Financial Services practice group. • Effective September 1, 2019, we acquired substantially all of the assets of Brinig Taylor Zimmer, Inc. (“BTZ”), a specialized financial consulting firm based in San Diego, California. BTZ provides forensic accounting, litigation consulting and business valuation services to a wide range of clients from individual to small business and large public traded entities. BTZ is included as a component of our Financial Services practice group. Aggregated consideration for these six acquisitions consisted of approximately $19.4 million in cash (including $6.9 million acquired client funds and $0.8 million cash acquired), $2.0 million in our common stock, and $11.2 million in contingent considerations. The maximum potential undiscounted amount of all future payments for 2019 acquisitions that we could be required to make under the contingent arrangements is $11.6 million. As of September 30, 2019, the aggregated fair value of the contingent considerations related to these acquisitions was $10.3 million, of which $2.9 million was recorded in Contingent purchase price liability – current and $7.4 million was recorded in Contingent purchase price liability – non-current in the accompanying Consolidated Balance Sheets at September 30, 2019. Refer to Note 7. Fair Value Measurements, for additional information regarding contingent purchase price liability fair value and fair value adjustments. Annualized aggregated revenue for these acquisitions is estimated to be approximately $17.4 million. Pro forma results of operations for these acquisitions are not presented because the effects of these acquisitions were not significant either individually or in aggregate to our consolidated Income from continuing operations before income taxes. The following table summarizes the amounts of identifiable assets acquired, liabilities assumed and aggregate purchase price for the acquisitions for the nine months ended September 30, 2020 and 2019 (in thousands): Nine Months Ended September 30, 2020 2019 Cash $ 233 $ 826 Accounts receivable 3,314 1,843 Funds held for clients 1,716 6,878 Operating lease right-of-use asset, net 1,427 2,789 Other assets 250 99 Identifiable intangible assets 4,788 7,725 Operating lease liability - current (408 ) (1,013 ) Other current liabilities (1,856 ) (2,245 ) Operating lease liability - noncurrent (1,019 ) (1,776 ) Client fund obligations (1,716 ) (6,878 ) Total identifiable net assets $ 6,729 $ 8,248 Goodwill 48,584 24,369 Aggregate purchase price $ 55,313 $ 32,617 The goodwill of $48.6 million and $24.4 million arising from the acquisitions for the nine months ended September 30, 2020 and 2019, respectively, primarily results from expected future earnings and cash flows from the existing management team, as well as the synergies created by the integration of the new business within our organization, including cross-selling opportunities expected with our Financial Services practice group and the Benefits and Insurance Services practice group, to help strengthen our existing service offerings and expand our market position. All of the goodwill is deductible for income tax purposes. Acquisition of Client Lists - During the nine months ended September 30, 2020, we purchased two client lists reported in the Benefits and Insurance Services practice group and one client list reported in the Financial Services practice group for total consideration of $0.6 million, of which $0.3 million is contingent. During the nine months ended September 30, 2019, we purchased one client list, reported in the Benefits and Insurance Services practice group, for $0.3 million, which included $0.2 million in contingent consideration. Change in Contingent Purchase Price Liability for Previous Acquisitions - During the nine months ended September 30, 2020 and 2019, the fair value of the contingent purchase price liability related to prior acquisitions decreased by $0.1 million and increased by $0.3 million, respectively. The change in fair value during the nine months ended September 30, 2020 is mostly attributable to the change in stock price related to the mark-to-market adjustment of future common stock issuances offset by net present value adjustments. The change in fair value during the nine months ended September 30, 2019 is mostly attributable to the change in stock price related to the mark-to-market adjustment of future common stock issuances and net present value adjustments, offset by subsequent measurement adjustments based on future results of the acquired businesses. These adjustments are included in Other income (expense), net in the accompanying Consolidated Statements of Comprehensive Income. Contingent Payments for Previous Business Acquisitions and Client Lists - We paid $10.9 million in cash and issued approximately 0.1 million shares of our common stock during the nine months ended September 30, 2020 for previous acquisitions. For the same period in 2019, we paid $16.3 million in cash and issued approximately 0.1 million shares of our common stock for previous acquisitions. During the nine months ended September 30, 2020 and 2019, we paid approximately $0.5 million and $0.7 million, respectively, in cash for previous client list purchases.

Divestitures

Divestitures	9 Months Ended
	Sep. 30, 2020
Discontinued Operations And Disposal Groups [Abstract]
Divestitures	Note 12. Divestitures Divested operations and assets that do not qualify for treatment as discontinued operations are recorded as “Gain on sale of operations, net” in the accompanying Consolidated Statements of Comprehensive Income. We recorded a gain of $0.1 million during the nine months ended September 30, 2020 related to a small book of business in the Benefits and Insurance Practice and a small accounting firm in the Financial Services practice group. We recorded a gain of $0.4 million during the nine months ended September 30, 2019 related to a small accounting firm in the Financial Services practice group.

Segment Disclosures

Segment Disclosures	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Segment Disclosures	Note 13. Segment Disclosures Our business units have been aggregated into three practice groups: Financial Services, Benefits and Insurance Services and National Practices. The business units have been aggregated based on the following factors: similarity of the products and services provided to clients; similarity of the regulatory environment in which they operate; and similarity of economic conditions affecting long-term performance. The business units are managed along these segment lines. A general description of services provided by each practice group is provided in the table below. Financial Services Benefits and Insurance Services National Practices • Accounting and Tax • Government Healthcare Consulting • Financial Advisory • Valuation • Risk & Advisory Services • Group Health Benefits Consulting • Payroll • Property & Casualty • Retirement Plan Services • Managed Networking and Hardware Services • Healthcare Consulting Corporate and Other . Included in “Corporate and Other” are operating expenses that are not directly allocated to the individual business units. These expenses are primarily comprised of certain health care costs, gains or losses attributable to assets held in our non-qualified deferred compensation plan, stock-based compensation, consolidation and integration charges, certain professional fees, certain advertising costs and other various expenses. Accounting policies of the practice groups are the same as those described in Note 1. Basis of Presentation and Significant Accounting Policies, to the Annual Report on Form 10-K for the year ended December 31, 2019. Upon consolidation, intercompany accounts and transactions are eliminated, thus inter-segment revenue is not included in the measure of profit or loss for the practice groups. Performance of the practice groups is evaluated on operating income excluding those costs listed above, which are reported in the “Corporate and Other” segment. Segment information for the three and nine months ended September 30, 20 20 a nd 201 9 is presented below. We do not manage our assets on a segment basis, therefore segment assets are not presented below. The following table disaggregates our revenue by source (in thousands): Three Months Ended September 30, 2020 Financial Benefits & National Services Insurance Practices Consolidated Accounting, tax, advisory and consulting $ 155,499 $ — $ — $ 155,499 Core Benefits and Insurance Services — 71,497 — 71,497 Non-core Benefits and Insurance Services — 2,384 — 2,384 Managed networking, hardware services — — 6,592 6,592 National Practices consulting — — 2,417 2,417 Total revenue $ 155,499 $ 73,881 $ 9,009 $ 238,389 Three Months Ended September 30, 2019 Financial Benefits & National Services Insurance Practices Consolidated Accounting, tax, advisory and consulting $ 153,794 $ — $ — $ 153,794 Core Benefits and Insurance — 73,409 — 73,409 Non-core Benefits and Insurance — 3,551 — 3,551 Managed networking, hardware services — — 6,553 6,553 National Practices consulting — — 2,483 2,483 Total revenue $ 153,794 $ 76,960 $ 9,036 $ 239,790 Nine Months Ended September 30, 2020 Financial Benefits & National Services Insurance Practices Consolidated Accounting, tax, advisory and consulting $ 498,359 $ — $ — $ 498,359 Core Benefits and Insurance Services — 219,362 — 219,362 Non-core Benefits and Insurance Services — 8,071 — 8,071 Managed networking, hardware services — — 19,748 19,748 National Practices consulting — — 7,247 7,247 Total revenue $ 498,359 $ 227,433 $ 26,995 $ 752,787 Nine Months Ended September 30, 2019 Financial Benefits & National Services Insurance Practices Consolidated Accounting, tax, advisory and consulting $ 493,311 $ — $ — $ 493,311 Core Benefits and Insurance Services — 216,394 — 216,394 Non-core Benefits and Insurance Services — 8,948 — 8,948 Managed networking, hardware services — — 19,499 19,499 National Practices consulting — — 7,134 7,134 Total revenue $ 493,311 $ 225,342 $ 26,633 $ 745,286 Segment information for the three months ended September 30, 2020 and 2019 was as follows (in thousands): Three Months Ended September 30, 2020 Financial Services Benefits and Insurance Services National Practices Corporate and Other Total Revenue $ 155,499 $ 73,881 $ 9,009 $ — $ 238,389 Operating expenses 129,922 62,013 8,070 4,755 204,760 Gross margin 25,577 11,868 939 (4,755 ) 33,629 Corporate general & admin — — — 11,339 11,339 Operating income (loss) 25,577 11,868 939 (16,094 ) 22,290 Other income (expense): Interest expense — (10 ) — (964 ) (974 ) Gain (loss) on sale of operations, net (76 ) 2 — — (74 ) Other income, net (14 ) (36 ) — 5,964 5,914 Total other income (expense) (90 ) (44 ) 0 5,000 4,866 Income (loss) from continuing operations before income tax expense $ 25,487 $ 11,824 $ 939 $ (11,094 ) $ 27,156 Three Months Ended September 30, 2019 Financial Services Benefits and Insurance Services National Practices Corporate and Other Total Revenue $ 153,794 $ 76,960 $ 9,036 $ — $ 239,790 Operating expenses 128,231 63,390 8,104 9,421 209,146 Gross margin 25,563 13,570 932 (9,421 ) 30,644 Corporate general & admin — — — 11,670 11,670 Operating income (loss) 25,563 13,570 932 (21,091 ) 18,974 Other income (expense): Interest expense — (14 ) — (1,507 ) (1,521 ) Gain (loss) on sale of operations, net 16 — — (161 ) (145 ) Other income, net 14 9 — 6,744 6,767 Total other income (expense) 30 (5 ) 0 5,076 5,101 Income (loss) from continuing operations before income tax expense $ 25,593 $ 13,565 $ 932 $ (16,015 ) $ 24,075 Segment information for the nine months ended September 30, 2020 and 2019 was as follows (in thousands): Nine Months Ended September 30, 2020 Financial Services Benefits and Insurance Services National Practices Corporate and Other Total Revenue $ 498,359 $ 227,433 $ 26,995 $ — $ 752,787 Operating expenses 395,937 188,519 24,343 4,804 613,603 Gross margin 102,422 38,914 2,652 (4,804 ) 139,184 Corporate general & admin — — — 32,988 32,988 Operating income (loss) 102,422 38,914 2,652 (37,792 ) 106,196 Other income: Interest expense — (30 ) — (4,137 ) (4,167 ) Gain (loss) on sale of operations, net (25 ) 103 — — 78 Other (expense) income, net 32 190 1 3,227 3,450 Total other income 7 263 1 (910 ) (639 ) Income (loss) from continuing operations before income tax expense $ 102,429 $ 39,177 $ 2,653 $ (38,702 ) $ 105,557 Nine Months Ended September 30, 2019 Financial Services Benefits and Insurance Services National Practices Corporate and Other Total Revenue $ 493,311 $ 225,342 $ 26,633 $ — $ 745,286 Operating expenses 390,847 185,836 24,308 21,799 622,790 Gross margin 102,464 39,506 2,325 (21,799 ) 122,496 Corporate general & admin — — — 33,916 33,916 Operating income (loss) 102,464 39,506 2,325 (55,715 ) 88,580 Other income: Interest expense — (38 ) — (4,471 ) (4,509 ) Gain (loss) on sale of operations, net 563 — — (161 ) 402 Other (expense) income, net (188 ) 204 1 12,699 12,716 Total other income 375 166 1 8,067 8,609 Income (loss) from continuing operations before income tax expense $ 102,839 $ 39,672 $ 2,326 $ (47,648 ) $ 97,189

Leases

Leases	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Leases	NOTE 14. LEASES We determine if a contract is a lease at inception. We have leases for office space and facilities, automobiles, and certain information technology equipment. All of our leases are classified as operating leases and the majority of which are for office space and facilities. Supplemental balance sheet information related to the Company’s operating leases as of September 30, 2020 and December 31, 2019 was as follows (in thousands): September 30, 2020 December 31, 2019 Weighted-average remaining lease term 6.8 years 6.9 years Weighted-average discount rate 3.7 % 3.6 % The components of lease expense and other lease information as of and during the three-month period ended September 30, 2020 and 2019 are as follows (in thousands): September 30, 2020 September 30, 2019 Operating lease cost $ 8,329 $ 9,406 Cash paid for amounts included in measurement of lease liabilities Operating cash flows from operating leases $ 7,773 $ 9,535 The components of lease expense and other lease information as of and during the nine-month period ended September 30, 2020 and 2019 are as follows (in thousands): September 30, 2020 September 30, 2019 Operating lease cost $ 26,006 $ 27,864 Cash paid for amounts included in measurement of lease liabilities Operating cash flows from operating leases $ 26,575 $ 27,994 Our leases have remaining lease terms of 1 year to 11 years. These leases generally contain renewal options for periods ranging from two to five years. Because the Company is not reasonably certain to exercise these renewal options, the options are not considered in determining the lease term, and associated potential option payments are excluded from lease payments. A number of leased properties are owned indirectly by and leased from persons employed by the Company, none of whom are members of our senior management. In the aggregate, for the three and nine month periods ending September 30, 2020 and 2019, we made lease payments to those related parties of approximately $0.6 million and $0.6 million, respectively, and $1.7 million and $1.8 million, respectively. The following table summarizes the maturity of our operating lease liabilities as of September 30, 2020 (in thousands): Operating Leases 2020 $ 8,973 2021 35,003 2022 28,666 2023 26,258 2024 23,081 Thereafter 69,278 Total undiscounted lease payments 191,259 Less: imputed interest (22,770 ) Total lease liabilities $ 168,489 The following table summarizes the maturity of our operating lease commitments as of December 31, 2019 (in thousands): Operating Leases 2020 $ 34,775 2021 32,371 2022 26,112 2023 24,273 2024 21,578 Thereafter 67,025 Total undiscounted lease payments 206,134 Less: imputed interest (45,086 ) Total lease liabilities $ 161,048

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Description of Business	Selected Terms Used in Notes to the Consolidated Financial Statements ASA – Administrative Service Agreement ASC – Accounting Standards Codification ASU – Accounting Standards Update CECL– Current expected credit losses CPA firm – Certified Public Accounting firm FASB – The Financial Accounting Standards Board GAAP – United States Generally Accepted Accounting Principles LIBOR – London Interbank Offered Rate SEC – United States Securities and Exchange Commission Topic 326 – ASU No. 2016-13, Financial Instruments – Credit Losses Description of Business: CBIZ, Inc. is a diversified services company which, acting through its subsidiaries, has been providing professional business services since 1996, primarily to small and medium-sized businesses, as well as individuals, governmental entities, and not-for-profit enterprises throughout the United States and parts of Canada. CBIZ, Inc. manages and reports its operations along three practice groups: Financial Services, Benefits and Insurance Services and National Practices. A further description of products and services offered by each of the practice groups is provided in Note 13. Segment Disclosures, to the accompanying consolidated financial statements.
Basis of Consolidation	Basis of Consolidation: The accompanying unaudited condensed consolidated financial statements include the operations of CBIZ, Inc. and all of its wholly-owned subsidiaries (“CBIZ”, the “Company”, “we”, “us”, or “our”), after elimination of all intercompany balances and transactions. These condensed consolidated financial statements do not reflect the operations or accounts of variable interest entities as the impact is not material to the financial condition, results of operations or cash flows of CBIZ.
Unaudited Interim Financial Statements	Unaudited Interim Financial Statements: The condensed consolidated financial statements have been prepared in accordance with GAAP and applicable rules and regulations of the SEC regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. As such, the information included in this quarterly report on Form 10-Q should be read in conjunction with the consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2019. In the opinion of CBIZ management, the accompanying condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial condition, results of operations, and cash flows for the interim periods presented, but are not necessarily indicative of the results of operations to be anticipated for the full year ending December 31, 2020.
Use of Estimates	Use of Estimates: The preparation of condensed consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the amounts reported and disclosed in the financial statements and the accompanying notes. Changes in circumstances could cause actual results to differ materially from these estimates.
Changes in Accounting Policies	Changes in Accounting Policies: Except for the adoption of Topic 326, which required a change in our accounting policy, we have consistently applied the accounting policies for the periods presented as described in Note 1, Basis of Presentation and Significant Accounting Policies, to the consolidated financial statements contained in our Annual Report on Form 10-K for the fiscal year ended December 31, 2019. Effective January 1, 2020, we changed our accounting policy for the valuation of accounts receivable allowances and available-for-sale securities as a result of adopting Topic 326 as described in Note 2, New Accounting Pronouncements.
New Accounting Pronouncements	The FASB ASC is the sole source of authoritative GAAP other than the SEC issued rules and regulations that apply only to SEC registrants. The FASB issues an accounting standard to communicate changes to the FASB codification. We assess and review the impact of all accounting standards. Any accounting standards not listed below were reviewed and determined to be either not applicable or are not expected to have a material impact on the consolidated financial statements of the Company. Accounting Standards Adopted in 2020 Credit Losses: Effective January 1, 2020, we adopted Topic 326, which replaces the incurred loss model with an expected loss model that is referred to as the current expected credit loss model. The CECL model requires the Company to immediately recognize an estimate of credit losses that are expected to occur over the life of financial instruments recorded at amortized cost, including trade receivables. Topic 326 also amends the other-than-temporary impairment model for available-for-sale securities by requiring the recognition of credit loss impairments as an allowance rather than a write-down on available-for-sale securities. The length of time a security has been in an unrealized loss position will no longer impact the determination of whether a credit loss exists. For financial instruments recorded at amortized cost, we did not recognize a cumulative-effect adjustment to retained earnings as the adoption of Topic 326 did not have a material impact on our consolidated financial statements. For available-for-sale securities, the updated guidance was applied prospectively. Fair Value Measurement: On January 1, 2020, we adopted ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement. This standard amends existing fair value measurement disclosure requirements by adding, changing, or removing certain disclosures. The adoption of this guidance did not have a material impact on our consolidated financial statements. Income Taxes: On January 1, 2020, we adopted ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The amendments also improve consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. The adoption of this guidance did not have a material impact on our consolidated financial statements. Accounting Standards Issued But Not Yet Adopted Reference Rate Reform : In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this ASU are effective for all entities through December 31, 2022. We are currently evaluating the effect of this new standard on our consolidated financial statements.

Accounts Receivable, Net (Table

Accounts Receivable, Net (Tables)	9 Months Ended
	Sep. 30, 2020
Receivables [Abstract]
Schedule of Accounts Receivable, Net	Accounts receivable, net, at September 30, 2020 and December 31, 2019 were as follows (in thousands): September 30, December 31, 2020 2019 Trade accounts receivable $ 173,980 $ 176,375 Unbilled revenue, at net realizable value 89,851 60,035 Total accounts receivable 263,831 236,410 Allowance for doubtful accounts (14,945 ) (14,379 ) Accounts receivable, net $ 248,886 $ 222,031
Schedule of Changes in the Allowance for Doubtful Accounts on Accounts Receivable	Changes to the allowance for doubtful accounts for the nine months ended September 30, 2020 are as follows (in thousands): September 30, 2020 Balance at beginning of period $ (14,379 ) Provision for losses (6,658 ) Charge-offs, net of recoveries 6,092 Allowance for doubtful accounts $ (14,945 )

Debt and Financing Arrangemen_2

Debt and Financing Arrangements (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Summary of Unsecured Credit Facility	Effective interest rates, including the impact of interest rate swaps associated with the 2018 credit facility, were as follows: Nine Months Ended September 30, 2020 2019 Weighted average rates 2.46% 3.16% Range of effective rates 1.10% - 4.75% 2.12% - 5.50%
Summary of Recognized Interest Expense	Interest expense, including amortization of deferred financing costs, commitment fees, line of credit fees, and other applicable bank charges, was as follows (in thousands): Three Months Ended September 30, 2020 2019 2018 credit facility $ 955 $ 1,498 Other 19 23 Total $ 974 $ 1,521 Nine Months Ended September 30, 2020 2019 2018 credit facility $ 4,112 $ 4,444 Other line of credit 1 — Other 54 65 Total $ 4,167 $ 4,509

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2020
Investments All Other Investments [Abstract]
Summary of Investments	The following table summarizes activities related to these investments for the nine months ended September 30, 2020 and the twelve months ended December 31, 2019 (in thousands): Nine Months Ended Twelve Months Ended September 30, 2020 December 31, 2019 Fair value at beginning of period $ 60,659 $ 56,556 Purchases 3,447 27,216 Redemptions (22,078 ) (1,686 ) Maturities (10,889 ) (22,272 ) Decrease in bond premium (750 ) (460 ) Fair market value adjustment 2 1,305 Fair value at end of period $ 30,391 $ 60,659
Summary of Outstanding Interest Rate Swaps	The following table summarizes our outstanding interest rate swaps and their classification in the accompanying Consolidated Balance Sheets at September 30, 2020 and December 31, 2019 (in thousands): September 30, 2020 Notional Fair Amount Value Balance Sheet Location Interest rate swaps $ 10,000 $ (37 ) Other current liability Interest rate swaps $ 85,000 $ (2,878 ) Other non-current liabilities December 31, 2019 Notional Fair Amount Value Balance Sheet Location Interest rate swap $ 25,000 $ 66 Other current assets Interest rate swaps $ 45,000 $ (591 ) Other non-current liabilities
Summary of Effects of Interest Rate Swap	The following table summarizes the effects of the interest rate swaps on the accompanying Consolidated Statements of Comprehensive Income for the three and nine months ended September 30, 2020 and 2019 (in thousands): Loss Recognized in AOCL, net of tax (Loss) Gain Reclassified from AOCL into Expense Three Months Ended Three Months Ended September 30, September 30, 2020 2019 2020 2019 Interest rate swap $ (136 ) $ (194 ) $ (293 ) $ 98 Nine Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Interest rate swap $ (1,796 ) $ (1,351 ) $ (676 ) $ 371

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Summary of Assets and (Liabilities) Measured at Fair Value on a Recurring Basis	The following table summarizes our assets and (liabilities) at September 30, 2020 and December 31, 2019, respectively, 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 us to determine such fair value (in thousands): Level September 30, 2020 December 31, 2019 Deferred compensation plan assets 1 $ 113,749 $ 106,851 Available-for-sale debt securities 1 30,391 60,659 Deferred compensation plan liabilities 1 (113,749 ) (106,851 ) Interest rate swaps 2 (2,915 ) (525 ) Contingent purchase price liabilities 3 (34,108 ) (32,089 )
Change in Level 3 Fair Values of Contingent Purchase Price Liabilities	During the nine months ended September 30, 2020 and 2019, there were no transfers between the valuation hierarchy Levels 1, 2 and 3. The following table summarizes the change in Level 3 fair values of our contingent purchase price liabilities for the nine months ended September 30, 2020 and 2019 (pre-tax basis) (in thousands): 2020 2019 Beginning balance – January 1 $ (32,089 ) $ (39,708 ) Additions from business acquisitions (14,953 ) (10,150 ) Settlement of contingent purchase price liabilities 12,854 18,311 Change in fair value of contingencies 612 222 Change in net present value of contingencies (532 ) (544 ) Ending balance – September 30 $ (34,108 ) $ (31,869 )

Other Comprehensive Loss (Table

Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Summary of Other Comprehensive Loss and Tax Impact	The following table is a summary of other comprehensive loss and discloses the tax impact of each component of other comprehensive loss for the three and nine months ended September 30, 2020 and 2019 (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Net unrealized (loss) gain on available-for-sale securities, net of income taxes (1) $ (46 ) $ 72 $ (1 ) $ 894 Net unrealized loss on interest rate swaps, net of income taxes (2) (136 ) (194 ) (1,796 ) (1,351 ) Foreign currency translation (4 ) (7 ) (18 ) (13 ) Total other comprehensive loss $ (186 ) $ (129 ) $ (1,815 ) $ (470 ) (1) Net of income tax (benefit) expense of ($17) and $27 for the three months ended September 30, 2020 and 2019, respectively, and net of income tax expense of $2 and $331 for the nine months ended September 30, 2020 and 2019, respectively. (2) Net of income tax benefit of $45 and $61 for the three months ended September 30, 2020 and 2019, respectively, and net of income tax benefit of $579 and $419 for the nine months ended September 30, 2020 and 2019, respectively.

Employee Stock Plans (Tables)

Employee Stock Plans (Tables)	9 Months Ended
	Sep. 30, 2020
Schedule of Stock-Based Compensation Awards	Compensation expense for stock-based awards recognized during the three and nine months ended September 30, 2020 and 2019 was as follows (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Stock options $ 615 $ 425 $ 1,403 $ 1,423 Restricted stock units and awards 1,266 1,146 3,761 3,228 Performance share units 604 288 1,601 607 Total stock-based compensation expense $ 2,485 $ 1,859 $ 6,765 $ 5,258
Stock Award Activity	Stock Options and Restricted Stock Units and Awards – The following table presents our stock options and restricted stock units and awards activity during the nine months ended September 30, 2020 (in thousands, except per share data): Stock Options Restricted Stock Units and Awards Number of Options Weighted Average Exercise Per Share Number of Shares Weighted Grant-Date Fair Value (1) Outstanding at beginning of year 2,412 $ 13.58 577 $ 17.87 Granted 50 $ 24.62 178 $ 24.48 Exercised or released (442 ) $ 10.68 (276 ) $ 16.74 Expired or canceled (8 ) $ 18.15 (9 ) $ 20.96 Outstanding at September 30, 2020 2,012 $ 14.47 470 $ 20.97 Exercisable at September 30, 2020 1,540 $ 13.34 (1) Represents weighted average market value of the shares; awards are granted at no cost to the recipients.
Schedule of Fair Value Option Award Weighted Average Assumptions Used	The following weighted average assumptions were utilized: Nine Months Ended September 30, 2020 Expected volatility (1) 27.27 % Expected option life (years) (2) 4.67 Risk-free interest rate (3) 0.19 % Expected dividend yield (4) 0.00 % (1) The expected volatility assumption was determined based upon the historical volatility of CBIZ’s stock price, using daily price intervals. (2) The expected option life was determined based upon CBIZ’s historical data using a midpoint scenario, which assumes all options are exercised halfway between the expiration date and the weighted average time it takes the option to vest. (3) The risk-free interest rate assumption was based upon zero-coupon U.S. treasury bonds with a term approximating the expected life of the respective options. (4) The expected dividend yield assumption was determined in view of CBIZ’s historical and estimated dividend payouts. CBIZ does not expect to change its dividend payout policy in the foreseeable future.
Performance Shares [Member]
Stock Award Activity	The following table presents our PSU award activity during the nine months ended September 30, 2020 (in thousands, except per share data): Performance Share Units Weighted Average Grant-Date Fair Value Per Unit Outstanding at beginning of year 200 $ 19.82 Granted 132 $ 25.75 Vested — $ — Adjustments for performance results — $ — Canceled (8 ) $ 22.14 Outstanding at September 30, 2020 324 $ 22.17

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share from Continuing Operations	The following table sets forth the computation of basic and diluted earnings per share from continuing operations for the three and nine months ended September 30, 2020 and 2019 (in thousands, except per share data). Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Numerator: Income from continuing operations $ 20,096 $ 18,006 $ 78,437 $ 72,185 Denominator: Basic Weighted average common shares outstanding 54,403 54,268 54,372 54,215 Diluted Stock options (1) 738 1,279 825 1,267 Restricted stock awards (1) 135 185 192 212 Contingent shares (2) 84 84 84 84 Diluted weighted average common shares outstanding (3) 55,360 55,816 55,473 55,778 Basic earnings per share from continuing operations $ 0.37 $ 0.33 $ 1.44 $ 1.33 Diluted earnings per share from continuing operations $ 0.36 $ 0.32 $ 1.41 $ 1.29 (1) A total of 0.3 million and 0.2 million share based awards were excluded from the calculation of diluted earnings per share for the three and nine months ended September 30, 2020, respectively, and a total of 0.5 million and 0.5 million share based awards were excluded from the calculation of diluted earnings per share for the three and nine months ended September 30, 2019, respectively, as their effect would be anti-dilutive. (2) Contingent shares represent additional shares to be issued for purchase price earned by former owners of businesses acquired by us once future considerations have been met. Refer to Note 11. Business Combinations, for further details. (3) The denominator used in calculating diluted earnings per share did not include 0.3 million performance share units for both the three and nine months ended September 30, 2020, and the denominator used in calculating diluted earnings per share did not include 0.2 million performance share units for both the three and nine months ended September 30, 2019. The performance conditions associated with these performance share units were not met and consequently none of these performance share units were considered as issuable for the three and nine months ended September 30, 2020 and 2019.

Business Combinations (Tables)

Business Combinations (Tables)	9 Months Ended
	Sep. 30, 2020
Business Acquisitions in 2019 and 2020 [Member]
Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed	The following table summarizes the amounts of identifiable assets acquired, liabilities assumed and aggregate purchase price for the acquisitions for the nine months ended September 30, 2020 and 2019 (in thousands): Nine Months Ended September 30, 2020 2019 Cash $ 233 $ 826 Accounts receivable 3,314 1,843 Funds held for clients 1,716 6,878 Operating lease right-of-use asset, net 1,427 2,789 Other assets 250 99 Identifiable intangible assets 4,788 7,725 Operating lease liability - current (408 ) (1,013 ) Other current liabilities (1,856 ) (2,245 ) Operating lease liability - noncurrent (1,019 ) (1,776 ) Client fund obligations (1,716 ) (6,878 ) Total identifiable net assets $ 6,729 $ 8,248 Goodwill 48,584 24,369 Aggregate purchase price $ 55,313 $ 32,617

Segment Disclosures (Tables)

Segment Disclosures (Tables)	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Summary of Disaggregation of Revenue by Source	The following table disaggregates our revenue by source (in thousands): Three Months Ended September 30, 2020 Financial Benefits & National Services Insurance Practices Consolidated Accounting, tax, advisory and consulting $ 155,499 $ — $ — $ 155,499 Core Benefits and Insurance Services — 71,497 — 71,497 Non-core Benefits and Insurance Services — 2,384 — 2,384 Managed networking, hardware services — — 6,592 6,592 National Practices consulting — — 2,417 2,417 Total revenue $ 155,499 $ 73,881 $ 9,009 $ 238,389 Three Months Ended September 30, 2019 Financial Benefits & National Services Insurance Practices Consolidated Accounting, tax, advisory and consulting $ 153,794 $ — $ — $ 153,794 Core Benefits and Insurance — 73,409 — 73,409 Non-core Benefits and Insurance — 3,551 — 3,551 Managed networking, hardware services — — 6,553 6,553 National Practices consulting — — 2,483 2,483 Total revenue $ 153,794 $ 76,960 $ 9,036 $ 239,790 Nine Months Ended September 30, 2020 Financial Benefits & National Services Insurance Practices Consolidated Accounting, tax, advisory and consulting $ 498,359 $ — $ — $ 498,359 Core Benefits and Insurance Services — 219,362 — 219,362 Non-core Benefits and Insurance Services — 8,071 — 8,071 Managed networking, hardware services — — 19,748 19,748 National Practices consulting — — 7,247 7,247 Total revenue $ 498,359 $ 227,433 $ 26,995 $ 752,787 Nine Months Ended September 30, 2019 Financial Benefits & National Services Insurance Practices Consolidated Accounting, tax, advisory and consulting $ 493,311 $ — $ — $ 493,311 Core Benefits and Insurance Services — 216,394 — 216,394 Non-core Benefits and Insurance Services — 8,948 — 8,948 Managed networking, hardware services — — 19,499 19,499 National Practices consulting — — 7,134 7,134 Total revenue $ 493,311 $ 225,342 $ 26,633 $ 745,286
Summary of Segment Information	Segment information for the three months ended September 30, 2020 and 2019 was as follows (in thousands): Three Months Ended September 30, 2020 Financial Services Benefits and Insurance Services National Practices Corporate and Other Total Revenue $ 155,499 $ 73,881 $ 9,009 $ — $ 238,389 Operating expenses 129,922 62,013 8,070 4,755 204,760 Gross margin 25,577 11,868 939 (4,755 ) 33,629 Corporate general & admin — — — 11,339 11,339 Operating income (loss) 25,577 11,868 939 (16,094 ) 22,290 Other income (expense): Interest expense — (10 ) — (964 ) (974 ) Gain (loss) on sale of operations, net (76 ) 2 — — (74 ) Other income, net (14 ) (36 ) — 5,964 5,914 Total other income (expense) (90 ) (44 ) 0 5,000 4,866 Income (loss) from continuing operations before income tax expense $ 25,487 $ 11,824 $ 939 $ (11,094 ) $ 27,156 Three Months Ended September 30, 2019 Financial Services Benefits and Insurance Services National Practices Corporate and Other Total Revenue $ 153,794 $ 76,960 $ 9,036 $ — $ 239,790 Operating expenses 128,231 63,390 8,104 9,421 209,146 Gross margin 25,563 13,570 932 (9,421 ) 30,644 Corporate general & admin — — — 11,670 11,670 Operating income (loss) 25,563 13,570 932 (21,091 ) 18,974 Other income (expense): Interest expense — (14 ) — (1,507 ) (1,521 ) Gain (loss) on sale of operations, net 16 — — (161 ) (145 ) Other income, net 14 9 — 6,744 6,767 Total other income (expense) 30 (5 ) 0 5,076 5,101 Income (loss) from continuing operations before income tax expense $ 25,593 $ 13,565 $ 932 $ (16,015 ) $ 24,075 Segment information for the nine months ended September 30, 2020 and 2019 was as follows (in thousands): Nine Months Ended September 30, 2020 Financial Services Benefits and Insurance Services National Practices Corporate and Other Total Revenue $ 498,359 $ 227,433 $ 26,995 $ — $ 752,787 Operating expenses 395,937 188,519 24,343 4,804 613,603 Gross margin 102,422 38,914 2,652 (4,804 ) 139,184 Corporate general & admin — — — 32,988 32,988 Operating income (loss) 102,422 38,914 2,652 (37,792 ) 106,196 Other income: Interest expense — (30 ) — (4,137 ) (4,167 ) Gain (loss) on sale of operations, net (25 ) 103 — — 78 Other (expense) income, net 32 190 1 3,227 3,450 Total other income 7 263 1 (910 ) (639 ) Income (loss) from continuing operations before income tax expense $ 102,429 $ 39,177 $ 2,653 $ (38,702 ) $ 105,557 Nine Months Ended September 30, 2019 Financial Services Benefits and Insurance Services National Practices Corporate and Other Total Revenue $ 493,311 $ 225,342 $ 26,633 $ — $ 745,286 Operating expenses 390,847 185,836 24,308 21,799 622,790 Gross margin 102,464 39,506 2,325 (21,799 ) 122,496 Corporate general & admin — — — 33,916 33,916 Operating income (loss) 102,464 39,506 2,325 (55,715 ) 88,580 Other income: Interest expense — (38 ) — (4,471 ) (4,509 ) Gain (loss) on sale of operations, net 563 — — (161 ) 402 Other (expense) income, net (188 ) 204 1 12,699 12,716 Total other income 375 166 1 8,067 8,609 Income (loss) from continuing operations before income tax expense $ 102,839 $ 39,672 $ 2,326 $ (47,648 ) $ 97,189

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Schedule of Supplemental Balance Sheet Information Related to Operating Leases	Supplemental balance sheet information related to the Company’s operating leases as of September 30, 2020 and December 31, 2019 was as follows (in thousands): September 30, 2020 December 31, 2019 Weighted-average remaining lease term 6.8 years 6.9 years Weighted-average discount rate 3.7 % 3.6 %
Schedule of Components of Lease Expense and Other Lease Information	The components of lease expense and other lease information as of and during the three-month period ended September 30, 2020 and 2019 are as follows (in thousands): September 30, 2020 September 30, 2019 Operating lease cost $ 8,329 $ 9,406 Cash paid for amounts included in measurement of lease liabilities Operating cash flows from operating leases $ 7,773 $ 9,535 The components of lease expense and other lease information as of and during the nine-month period ended September 30, 2020 and 2019 are as follows (in thousands): September 30, 2020 September 30, 2019 Operating lease cost $ 26,006 $ 27,864 Cash paid for amounts included in measurement of lease liabilities Operating cash flows from operating leases $ 26,575 $ 27,994
Schedule of Maturities of Operating Lease Liabilities	The following table summarizes the maturity of our operating lease liabilities as of September 30, 2020 (in thousands): Operating Leases 2020 $ 8,973 2021 35,003 2022 28,666 2023 26,258 2024 23,081 Thereafter 69,278 Total undiscounted lease payments 191,259 Less: imputed interest (22,770 ) Total lease liabilities $ 168,489
Schedule of Maturity of Operating Lease Commitments	The following table summarizes the maturity of our operating lease commitments as of December 31, 2019 (in thousands): Operating Leases 2020 $ 34,775 2021 32,371 2022 26,112 2023 24,273 2024 21,578 Thereafter 67,025 Total undiscounted lease payments 206,134 Less: imputed interest (45,086 ) Total lease liabilities $ 161,048

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2020Practice_Groups
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of practice groups	3

New Accounting Pronouncements -

New Accounting Pronouncements - Additional Information (Detail) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Retained earnings	$ 557,969,000	$ 479,576,000
Cumulative Effect Period Of Adoption Adjustment Member [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Retained earnings	$ 0

Accounts Receivable, Net - Addi

Accounts Receivable, Net - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Accounts Notes And Loans Receivable [Line Items]
Bad debt expense		$ 6,658
COVID 19 Pandemic [Member]
Accounts Notes And Loans Receivable [Line Items]
Bad debt expense	$ 0	$ 2,200

Accounts Receivable, Net - Acco

Accounts Receivable, Net - Accounts Receivables Net (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Accounts Receivable Net Current [Abstract]
Trade accounts receivable	$ 173,980	$ 176,375
Unbilled revenue, at net realizable value	89,851	60,035
Total accounts receivable	263,831	236,410
Allowance for doubtful accounts	(14,945)	(14,379)
Accounts receivable, net	$ 248,886	$ 222,031

Accounts Receivable, Net - Sche

Accounts Receivable, Net - Schedule of Changes in the Allowance for Doubtful Accounts on Accounts Receivable (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)
Receivables [Abstract]
Balance at beginning of period	$ (14,379)
Provision for losses	(6,658)
Charge-offs, net of recoveries	6,092
Allowance for doubtful accounts	$ (14,945)

Debt and Financing Arrangemen_3

Debt and Financing Arrangements - Additional Information (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Outstanding balance under applicable credit facility	$ 110,000,000	$ 105,500,000
Outstanding letters of credit	1,700,000	1,300,000
Line of Credit [Member]
Debt Instrument [Line Items]
Revolving loan commitment	$ 20,000,000
Line of credit facility renewal term	2020-08
Line of credit facility, termination date	Aug. 5, 2021
Outstanding line of credit	$ 0
2018 Credit Facility [Member]
Debt Instrument [Line Items]
Unsecured credit facility	$ 400,000,000
Line of credit facility maturity year	2023
Outstanding balance under applicable credit facility	$ 110,000,000	$ 105,500,000
Available funds under credit facility	284,000,000
Outstanding letters of credit	$ 1,700,000

Debt and Financing Arrangemen_4

Debt and Financing Arrangements - Summary of Unsecured Credit Facility (Detail)	Sep. 30, 2020	Sep. 30, 2019
Debt Instrument [Line Items]
Weighted average rates	2.46%	3.16%
Minimum [Member]
Debt Instrument [Line Items]
Range of effective rates	1.10%	2.12%
Maximum [Member]
Debt Instrument [Line Items]
Range of effective rates	4.75%	5.50%

Debt and Financing Arrangemen_5

Debt and Financing Arrangements - Summary of Recognized Interest Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Debt Instrument [Line Items]
Total interest expense	$ 974	$ 1,521	$ 4,167	$ 4,509
2018 Credit Facility [Member]
Debt Instrument [Line Items]
Total interest expense	955	1,498	4,112	4,444
Other [Member]
Debt Instrument [Line Items]
Total interest expense	$ 19	$ 23	54	$ 65
Other Line of Credit [Member]
Debt Instrument [Line Items]
Total interest expense			$ 1

Commitments and Contingencies (

Commitments and Contingencies (Letters of Credit and Guarantees) - Additional Information (Detail) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
Letters of credit outstanding	$ 1.7	$ 1.3
License bonds outstanding amount	$ 2.3	$ 2.3

Commitments and Contingencies_2

Commitments and Contingencies (Legal Proceedings) - Additional Information (Detail) $ in Millions	Dec. 19, 2016USD ($)	Sep. 16, 2016USD ($)	Sep. 30, 2020USD ($)Plaintiff
Baldino Group [Member]
Commitments And Contingencies [Line Items]
Number of Plaintiffs | Plaintiff			2
Damages sought amount			$ 16
Altoona Regional Health System [Member]
Commitments And Contingencies [Line Items]
Loss contingency, expected trial commencement		2021-03
Altoona Regional Health System [Member] | Minimum [Member]
Commitments And Contingencies [Line Items]
Damages sought amount		$ 124
Altoona Regional Health System [Member] | Maximum [Member]
Commitments And Contingencies [Line Items]
Damages sought amount		$ 266
CBIZ Operations and a former employee of CBIZ MMP [Member]
Commitments And Contingencies [Line Items]
Loss contingency, expected trial commencement	2021-03
Total transaction price	$ 200
CBIZ Operations and a former employee of CBIZ MMP [Member] | Maximum [Member]
Commitments And Contingencies [Line Items]
Damages sought amount	$ 177

Financial Instruments (Availabl

Financial Instruments (Available-for-sale Debt Securities) - Additional Information (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Schedule Of Available For Sale Securities [Line Items]
Corporate and municipal bonds	$ 29,400	$ 58,900
Maturity dates of bonds, start date	2020-10
Maturity dates of bonds, end date	2024-11
Unrealized losses on securities	$ 100
Funds held for clients	$ 123,755	179,502
Certified Deposits and Other Depository Assets [Member]
Schedule Of Available For Sale Securities [Line Items]
Funds held for clients		$ 2,500

Financial Instruments - Summary

Financial Instruments - Summary of Investments (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Available For Sale Securities [Abstract]
Fair value at beginning of period	$ 60,659	$ 56,556
Purchases	3,447	27,216
Redemptions	(22,078)	(1,686)
Maturities	(10,889)	(22,272)
Decrease in bond premium	(750)	(460)
Fair market value adjustment	2	1,305
Fair value at end of period	$ 30,391	$ 60,659

Financial Instruments (Interest

Financial Instruments (Interest Rate Swaps) - Additional Information (Detail) - Interest Rate Swap [Member]	9 Months Ended
	Sep. 30, 2020USD ($)Swap	Jun. 26, 2020USD ($)
Schedule Of Available For Sale Securities [Line Items]
Notional value	$ 50,000,000	$ 25,000,000
Interest rate swap, fixed interest rate	0.885%	1.30%
Interest rate swap, description of interest received	interest that varies with the one-month LIBOR
Derivative, Type of Interest Rate Paid on Swap	fixed
Number of interest rate swaps outstanding | Swap	4
February 2021 [Member]
Schedule Of Available For Sale Securities [Line Items]
Notional value	$ 10,000,000
Interest rate swap, fixed interest rate	1.12%
May 2022 [Member]
Schedule Of Available For Sale Securities [Line Items]
Notional value	$ 20,000,000
Interest rate swap, fixed interest rate	1.77%
June 2023 [Member]
Schedule Of Available For Sale Securities [Line Items]
Notional value	$ 15,000,000
Interest rate swap, fixed interest rate	2.64%
April 2025 [Member]
Schedule Of Available For Sale Securities [Line Items]
Notional value	$ 50,000,000
Interest rate swap, fixed interest rate	0.885%

Financial Instruments - Summa_2

Financial Instruments - Summary of Outstanding Interest Rate Swaps (Detail) - Interest Rate Swaps [Member] - USD ($)	Sep. 30, 2020	Jun. 26, 2020	Dec. 31, 2019
Derivatives, Fair Value [Line Items]
Notional Amount	$ 50,000,000	$ 25,000,000
Other Current Liability [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	10,000,000
Fair Value	(37,000)
Other Noncurrent Liabilities [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	85,000,000		$ 45,000,000
Fair Value	$ (2,878,000)		(591,000)
Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Notional Amount			25,000,000
Fair Value			$ 66,000

Financial Instruments - Summa_3

Financial Instruments - Summary of Effects of Interest Rate Swaps (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Derivatives, Fair Value [Line Items]
Loss Recognized in AOCL, net of tax	$ (136)	$ (194)	$ (1,796)	$ (1,351)
Interest Rate Swap [Member] | Interest Expense [Member]
Derivatives, Fair Value [Line Items]
Loss Recognized in AOCL, net of tax	(136)	(194)	(1,796)	(1,351)
(Loss) Gain Reclassified from AOCL into Expense	$ (293)	$ 98	$ (676)	$ 371

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Assets and (Liabilities) Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities	$ 30,391	$ 60,659	$ 56,556
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan assets	113,749	106,851
Available-for-sale debt securities	30,391	60,659
Deferred compensation plan liabilities	(113,749)	(106,851)
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps	(2,915)	(525)
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent purchase price liabilities	$ (34,108)	$ (32,089)

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements, Inter-transfers between Levels	$ 0	$ 0

Fair Value Measurements - Chang

Fair Value Measurements - Change in Level 3 Fair Values of Contingent Purchase Price Liabilities (Detail) - Contingent Purchase Price Liabilities [Member] - Level 3 [Member] - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	$ (32,089)	$ (39,708)
Additions from business acquisitions	(14,953)	(10,150)
Settlement of contingent purchase price liabilities	12,854	18,311
Change in fair value of contingencies	612	222
Change in net present value of contingencies	(532)	(544)
Ending balance	$ (34,108)	$ (31,869)

Other Comprehensive Loss - Summ

Other Comprehensive Loss - Summary of Other Comprehensive Loss and Tax Impact (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease [Abstract]
Net unrealized (loss) gain on available-for-sale securities, net of income taxes	$ (46)	$ 72	$ (1)	$ 894
Net unrealized loss on interest rate swaps, net of income taxes	(136)	(194)	(1,796)	(1,351)
Foreign currency translation	(4)	(7)	(18)	(13)
Total other comprehensive loss	$ (186)	$ (129)	$ (1,815)	$ (470)

Other Comprehensive Loss - Su_2

Other Comprehensive Loss - Summary of Other Comprehensive Loss and Tax Impact (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease [Abstract]
Unrealized (loss) gain on available-for-sale securities, income tax (benefit) expense	$ (17)	$ 27	$ 2	$ 331
Unrealized loss on interest rate swaps, income tax benefit	$ 45	$ 61	$ 579	$ 419

Other Comprehensive Loss - Addi

Other Comprehensive Loss - Additional Information (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]
Accumulated other comprehensive loss, net of tax	$ 2,495	$ 680

Employee Stock Plans - Addition

Employee Stock Plans - Additional Information (Detail) - $ / shares shares in Millions	Aug. 06, 2020	May 09, 2019	Sep. 30, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Fair value of stock options granted	$ 5.79
Performance Shares [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, remaining contractual terms			3 years
Performance share units, vesting period			3 years
Achievement of an earnings per share target			70.00%
Achievement of total growth in revenue			30.00%
Performance Shares [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of initial grant			200.00%
2019 Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum stock based compensation awards granted under the plan		3.1
Stock awards expiry		2029

Employee Stock Plans - Schedule

Employee Stock Plans - Schedule of Stock-Based Compensation Awards (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Compensation And Retirement Disclosure [Abstract]
Stock options	$ 615	$ 425	$ 1,403	$ 1,423
Restricted stock units and awards	1,266	1,146	3,761	3,228
Performance share units	604	288	1,601	607
Total stock-based compensation expense	$ 2,485	$ 1,859	$ 6,765	$ 5,258

Employee Stock Plans - Stock Aw

Employee Stock Plans - Stock Award Activity (Detail) - $ / shares shares in Thousands		9 Months Ended
		Sep. 30, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding Beginning balance, Number of Options		2,412
Granted, Number of Options		50
Exercised or released, Number of Options		(442)
Expired or canceled, Number of Options		(8)
Outstanding Ending balance, Number of Options		2,012
Exercisable Ending balance, Number of Options		1,540
Outstanding Beginning balance, Weighted Average Exercise Price Per Share		$ 13.58
Granted, Weighted Average Exercise Price Per Share		24.62
Exercised or released, Weighted Average Exercise Price Per Share		10.68
Expired or canceled, Weighted Average Exercise Price Per Share		18.15
Outstanding Ending balance, Weighted Average Exercise Price Per Share		14.47
Exercisable Ending balance, Weighted Average Exercise Price		$ 13.34
Restricted Stock Units and Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding Beginning balance, Number of Shares		577
Granted, Number of Shares		178
Exercised or released, Number of Shares		(276)
Expired or canceled, Number of Shares		(9)
Outstanding Ending balance, Number of Shares		470
Outstanding Beginning balance, Weighted Average Grant-Date Fair Value	[1]	$ 17.87
Granted, Weighted Average Grant-Date Fair Value	[1]	24.48
Exercised or released, Weighted Average Grant Date Fair Value	[1]	16.74
Expired or Canceled, Weighted Average Grant-Date Fair Value	[1]	20.96
Outstanding Ending balance, Weighted Average Grant-Date Fair Value	[1]	$ 20.97
[1]	Represents weighted average market value of the shares; awards are granted at no cost to the recipients.

Employee Stock Plans - Schedu_2

Employee Stock Plans - Schedule of Fair Value Option Award Weighted Average Assumptions Used (Detail)	9 Months Ended
	Sep. 30, 2020
Compensation And Retirement Disclosure [Abstract]
Expected volatility	27.27%
Expected option life (years)	4 years 8 months 1 day
Risk-free interest rate	0.19%
Expected dividend yield	0.00%

Employee Stock Plans - Performa

Employee Stock Plans - Performance Share Units Award Activity (Detail) - Performance Shares [Member] shares in Thousands	9 Months Ended
	Sep. 30, 2020$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding Beginning balance, Number of Shares | shares	200
Granted, Number of Shares | shares	132
Canceled, Number of Shares | shares	(8)
Outstanding Ending balance, Number of Shares | shares	324
Outstanding Beginning balance, Grant-Date Fair Value Per Unit | $ / shares	$ 19.82
Granted, Grant-Date Fair Value Per Unit | $ / shares	25.75
Canceled, Grant-Date Fair Value Per Unit | $ / shares	22.14
Outstanding Ending balance, Grant-Date Fair Value Per Unit | $ / shares	$ 22.17

Earnings Per Share - Computatio

Earnings Per Share - Computation of Basic and Diluted Earnings Per Share for Continuing Operations (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Numerator:
Income from continuing operations	$ 20,096	$ 18,006	$ 78,437	$ 72,185
Basic
Weighted average common shares outstanding	54,403	54,268	54,372	54,215
Diluted
Stock options	738	1,279	825	1,267
Restricted stock awards	135	185	192	212
Contingent shares	84	84	84	84
Diluted weighted average common shares outstanding	55,360	55,816	55,473	55,778
Basic earnings per share from continuing operations	$ 0.37	$ 0.33	$ 1.44	$ 1.33
Diluted earnings per share from continuing operations	$ 0.36	$ 0.32	$ 1.41	$ 1.29

Earnings Per Share - Computat_2

Earnings Per Share - Computation of Basic and Diluted Earnings Per Share for Continuing Operations (Parenthetical) (Detail) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Stock Compensation Plan [Member]
Dilutive Securities Included And Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Share based awards excluded from the calculation of diluted earnings per share	300,000	500,000	200,000	500,000
Performance Shares [Member]
Dilutive Securities Included And Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Share based awards excluded from the calculation of diluted earnings per share	300,000	200,000	300,000	200,000
Exercised / Vested, Number of Shares	0	0	0	0

Business Combinations - Additio

Business Combinations - Additional Information (Detail) shares in Millions	9 Months Ended
	Sep. 30, 2020USD ($)Client_Listshares	Sep. 30, 2019USD ($)BusinessClient_Listshares	Dec. 31, 2019USD ($)
Business Acquisition, Contingent Consideration [Line Items]
Consideration paid in cash	$ 35,500,000	$ 19,400,000
Consideration paid in common stock	3,500,000	2,000,000
Contingent consideration	16,300,000	11,200,000
Contingent consideration arrangements - High	18,700,000	11,600,000
Aggregate fair value of contingent consideration	16,400,000	10,300,000
Contingent consideration, current	15,430,000		$ 16,193,000
Contingent consideration, non-current	18,678,000		$ 15,896,000
Annual revenue	24,600,000	$ 17,400,000
Number of businesses acquired | Business		6
Cash		$ 800,000
Acquired client funds		6,900,000
Business combination contingent consideration liability other adjustments based on projected future results of acquisition	(100,000)	300,000
Consideration paid in cash	$ 10,900,000	$ 16,300,000
Number of common stock issued | shares	0.1	0.1
Contingent Purchase Price Liability – Current [Member]
Business Acquisition, Contingent Consideration [Line Items]
Contingent consideration, current	$ 5,000,000	$ 2,900,000
Contingent Purchase Price Liability – Non-current [Member]
Business Acquisition, Contingent Consideration [Line Items]
Contingent consideration, non-current	$ 11,400,000	7,400,000
Alliance Insurance Services, Inc. [Member]
Business Acquisition, Contingent Consideration [Line Items]
Effective date of acquisition	Feb. 1, 2020
Acquired entity, name	Alliance Insurance Services, Inc.
Pension Dynamics Company, LLC [Member]
Business Acquisition, Contingent Consideration [Line Items]
Effective date of acquisition	Feb. 1, 2020
Acquired entity, name	Pension Dynamics Company, LLC
Sunshine Systems [Member]
Business Acquisition, Contingent Consideration [Line Items]
Effective date of acquisition	Feb. 1, 2020
Acquired entity, name	Sunshine Systems
Prince-Wood Insurance, L.L.C [Member]
Business Acquisition, Contingent Consideration [Line Items]
Effective date of acquisition	Jul. 1, 2020
Acquired entity, name	Prince-Wood Insurance, L.L.C
ARC Consulting LLC and ARC Placement Group LLC [Member]
Business Acquisition, Contingent Consideration [Line Items]
Effective date of acquisition	Sep. 1, 2020
Acquired entity, name	ARC Consulting LLC and ARC Placement Group LLC
Wenner Group, LLC [Member]
Business Acquisition, Contingent Consideration [Line Items]
Effective date of acquisition	Jan. 1, 2019
Acquired entity, name	Wenner Group, LLC
Paydayta, Inc. [Member]
Business Acquisition, Contingent Consideration [Line Items]
Effective date of acquisition	Jul. 1, 2019
Acquired entity, name	Paydayta, Inc.
Gavion, LLC [Member]
Business Acquisition, Contingent Consideration [Line Items]
Effective date of acquisition	Jul. 1, 2019
Acquired entity, name	Gavion, LLC
QBA Benefits, LLC. [Member]
Business Acquisition, Contingent Consideration [Line Items]
Effective date of acquisition	Aug. 1, 2019
Acquired entity, name	QBA Benefits, LLC.
Ericson CPAs [Member]
Business Acquisition, Contingent Consideration [Line Items]
Effective date of acquisition	Aug. 1, 2019
Acquired entity, name	Ericson CPAs
Brinig Taylor Zimmer, Inc. [Member]
Business Acquisition, Contingent Consideration [Line Items]
Effective date of acquisition	Sep. 1, 2019
Acquired entity, name	Brinig Taylor Zimmer, Inc.
Series of Business Acquisition [Member]
Business Acquisition, Contingent Consideration [Line Items]
Goodwill	$ 48,600,000	24,400,000
Acquisition of Client Lists [Member]
Business Acquisition, Contingent Consideration [Line Items]
Consideration paid in cash	600,000	300,000
Contingent consideration	$ 300,000	$ 200,000
Acquisition of Client Lists [Member] | Benefits and Insurance Services Practice Group [Member]
Business Acquisition, Contingent Consideration [Line Items]
Number of client list purchased | Client_List	2	1
Acquisition of Client Lists [Member] | Financial Service Practice Group [Member]
Business Acquisition, Contingent Consideration [Line Items]
Number of client list purchased | Client_List	1
Previous Client List Purchases [Member]
Business Acquisition, Contingent Consideration [Line Items]
Consideration paid in cash	$ 500,000	$ 700,000

Business Combinations - Schedul

Business Combinations - Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Sep. 30, 2019
Business Acquisition [Line Items]
Cash		$ 800
Funds held for clients		6,900
Business Acquisitions in 2019 and 2020 [Member]
Business Acquisition [Line Items]
Cash	$ 233	826
Accounts receivable	3,314	1,843
Funds held for clients	1,716	6,878
Operating lease right-of-use asset, net	1,427	2,789
Other assets	250	99
Identifiable intangible assets	4,788	7,725
Operating lease liability - current	(408)	(1,013)
Other current liabilities	(1,856)	(2,245)
Operating lease liability - noncurrent	(1,019)	(1,776)
Client fund obligations	(1,716)	(6,878)
Total identifiable net assets	6,729	8,248
Goodwill	48,584	24,369
Aggregate purchase price	$ 55,313	$ 32,617

Divestitures - Additional Infor

Divestitures - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Benefits and Insurance Services Practice Group [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain from the sale of its individual wealth management business	$ 0.1
Financial Service Practice Group [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain from the sale of its individual wealth management business		$ 0.4

Segment Disclosures - Additiona

Segment Disclosures - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2020Practice_Groups
Segment Reporting [Abstract]
Number of business units of the company	3

Segment Disclosures - Summary o

Segment Disclosures - Summary of Disaggregation of Revenue by Source (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Disaggregation Of Revenue [Line Items]
Total revenue	$ 238,389	$ 239,790	$ 752,787	$ 745,286
Financial Services [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	155,499	153,794	498,359	493,311
Benefits and Insurance Services [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	73,881	76,960	227,433	225,342
National Practices [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	9,009	9,036	26,995	26,633
Accounting, Tax, Advisory and Consulting [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	155,499	153,794	498,359	493,311
Accounting, Tax, Advisory and Consulting [Member] | Financial Services [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	155,499	153,794	498,359	493,311
Core Benefits and Insurance Services [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	71,497	73,409	219,362	216,394
Core Benefits and Insurance Services [Member] | Benefits and Insurance Services [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	71,497	73,409	219,362	216,394
Non-core Benefits and Insurance Services [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	2,384	3,551	8,071	8,948
Non-core Benefits and Insurance Services [Member] | Benefits and Insurance Services [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	2,384	3,551	8,071	8,948
Managed Networking, Hardware Services [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	6,592	6,553	19,748	19,499
Managed Networking, Hardware Services [Member] | National Practices [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	6,592	6,553	19,748	19,499
National Practices Consulting [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	2,417	2,483	7,247	7,134
National Practices Consulting [Member] | National Practices [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	$ 2,417	$ 2,483	$ 7,247	$ 7,134

Segment Disclosures - Summary_2

Segment Disclosures - Summary of Segment Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Revenue	$ 238,389	$ 239,790	$ 752,787	$ 745,286
Operating expenses	204,760	209,146	613,603	622,790
Gross margin	33,629	30,644	139,184	122,496
Corporate general & admin	11,339	11,670	32,988	33,916
Operating income	22,290	18,974	106,196	88,580
Other income (expense):
Interest expense	(974)	(1,521)	(4,167)	(4,509)
Gain (loss) on sale of operations, net	(74)	(145)	78	402
Other (expense) income, net	5,914	6,767	3,450	12,716
Total other income (expense), net	4,866	5,101	(639)	8,609
Income from continuing operations before income tax expense	27,156	24,075	105,557	97,189
Financial Services [Member]
Segment Reporting Information [Line Items]
Revenue	155,499	153,794	498,359	493,311
Benefits and Insurance Services [Member]
Segment Reporting Information [Line Items]
Revenue	73,881	76,960	227,433	225,342
National Practices [Member]
Segment Reporting Information [Line Items]
Revenue	9,009	9,036	26,995	26,633
Operating Segments [Member] | Financial Services [Member]
Segment Reporting Information [Line Items]
Revenue	155,499	153,794	498,359	493,311
Operating expenses	129,922	128,231	395,937	390,847
Gross margin	25,577	25,563	102,422	102,464
Operating income	25,577	25,563	102,422	102,464
Other income (expense):
Gain (loss) on sale of operations, net	(76)	16	(25)	563
Other (expense) income, net	(14)	14	32	(188)
Total other income (expense), net	(90)	30	7	375
Income from continuing operations before income tax expense	25,487	25,593	102,429	102,839
Operating Segments [Member] | Benefits and Insurance Services [Member]
Segment Reporting Information [Line Items]
Revenue	73,881	76,960	227,433	225,342
Operating expenses	62,013	63,390	188,519	185,836
Gross margin	11,868	13,570	38,914	39,506
Operating income	11,868	13,570	38,914	39,506
Other income (expense):
Interest expense	(10)	(14)	(30)	(38)
Gain (loss) on sale of operations, net	2		103
Other (expense) income, net	(36)	9	190	204
Total other income (expense), net	(44)	(5)	263	166
Income from continuing operations before income tax expense	11,824	13,565	39,177	39,672
Operating Segments [Member] | National Practices [Member]
Segment Reporting Information [Line Items]
Revenue	9,009	9,036	26,995	26,633
Operating expenses	8,070	8,104	24,343	24,308
Gross margin	939	932	2,652	2,325
Operating income	939	932	2,652	2,325
Other income (expense):
Other (expense) income, net			1	1
Total other income (expense), net	0	0	1	1
Income from continuing operations before income tax expense	939	932	2,653	2,326
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Operating expenses	4,755	9,421	4,804	21,799
Gross margin	(4,755)	(9,421)	(4,804)	(21,799)
Corporate general & admin	11,339	11,670	32,988	33,916
Operating income	(16,094)	(21,091)	(37,792)	(55,715)
Other income (expense):
Interest expense	(964)	(1,507)	(4,137)	(4,471)
Gain (loss) on sale of operations, net		(161)		(161)
Other (expense) income, net	5,964	6,744	3,227	12,699
Total other income (expense), net	5,000	5,076	(910)	8,067
Income from continuing operations before income tax expense	$ (11,094)	$ (16,015)	$ (38,702)	$ (47,648)

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Balance Sheet Information Related to Operating Leases (Detail)	Sep. 30, 2020	Dec. 31, 2019
Leases [Abstract]
Weighted-average remaining lease term	6 years 9 months 18 days	6 years 10 months 24 days
Weighted-average discount rate	3.70%	3.60%

Leases - Schedule of Components

Leases - Schedule of Components of Lease Expense and Other Lease Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Leases [Abstract]
Operating lease cost	$ 8,329	$ 9,406	$ 26,006	$ 27,864
Cash paid for amounts included in measurement of lease liabilities
Operating cash flows from operating leases	$ 7,773	$ 9,535	$ 26,575	$ 27,994

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Lessee Lease Description [Line Items]
Operating lease, option to extend			Our leases have remaining lease terms of 1 year to 11 years. These leases generally contain renewal options for periods ranging from two to five years. Because the Company is not reasonably certain to exercise these renewal options, the options are not considered in determining the lease term, and associated potential option payments are excluded from lease payments.
Lessee, Operating Lease, Existence of Option to Extend [true false]			true
Operating lease payments to related parties	$ 0.6	$ 0.6	$ 1.7	$ 1.8
Minimum [Member]
Lessee Lease Description [Line Items]
Operating lease, Remaining lease term			1 year
Operating lease, renewal term	2 years		2 years
Maximum [Member]
Lessee Lease Description [Line Items]
Operating lease, Remaining lease term			11 years
Operating lease, renewal term	5 years		5 years

Leases - Schedule of Maturity o

Leases - Schedule of Maturity of Operating Lease Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Leases [Abstract]
2020	$ 8,973	$ 34,775
2021	35,003	32,371
2022	28,666	26,112
2023	26,258	24,273
2024	23,081	21,578
Thereafter	69,278	67,025
Total undiscounted lease payments	191,259	206,134
Less: imputed interest	(22,770)	(45,086)
Total lease liabilities	$ 168,489	$ 161,048

Leases - Schedule of Maturity_2

Leases - Schedule of Maturity of Operating Lease Commitments (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Leases [Abstract]
2020	$ 8,973	$ 34,775
2021	35,003	32,371
2022	28,666	26,112
2023	26,258	24,273
2024	23,081	21,578
Thereafter	69,278	67,025
Total undiscounted lease payments	191,259	206,134
Less: imputed interest	(22,770)	(45,086)
Total lease liabilities	$ 168,489	$ 161,048