Common Stock (Tables)

9 Months Ended

Sep. 30, 2020

Common Stock [Abstract]

Summary Of Components Used To Calculate Basic And Diluted Income Per Share

Presented below is a summary of the components used to calculate basic and diluted income per share. The Company applies the two-class method of computing income per share, as nonvested share-based awards that contain nonforfeitable rights to dividends are considered securities which participate in undistributed earnings with common stock. The two-class method requires the calculation of separate income per share amounts for the nonvested share-based awards and for common stock. Income per share attributable to common stock is shown in the table below. Nonvested share-based awards are further discussed in Note 13.

	For the Three Months Ended September 30				For the Nine Months Ended September 30
(In thousands, except per share data)	2020		2019		2020		2019
Basic income per common share:
Net income attributable to Commerce Bancshares, Inc.	$	132,448	$	109,242	$	224,168	$	314,351
Less preferred stock dividends	7,466		2,250		11,966		6,750
Net income available to common shareholders	124,982		106,992		212,202		307,601
Less income allocated to nonvested restricted stock	1,173		1,040		1,996		2,996
Net income allocated to common stock	$	123,809	$	105,952	$	210,206	$	304,605
Weighted average common shares outstanding	110,720		112,982		110,848		114,475
Basic income per common share	$	1.12	$	.93	$	1.90	$	2.65
Diluted income per common share:
Net income available to common shareholders	$	124,982	$	106,992	$	212,202	$	307,601
Less income allocated to nonvested restricted stock	1,170		1,039		1,993		2,991
Net income allocated to common stock	$	123,812	$	105,953	$	210,209	$	304,610
Weighted average common shares outstanding	110,720		112,982		110,848		114,475
Net effect of the assumed exercise of stock-based awards - based on
the treasury stock method using the average market price for the respective periods	179		267		209		284
Weighted average diluted common shares outstanding	110,899		113,249		111,057		114,759
Diluted income per common share	$	1.11	$	.93	$	1.89	$	2.65