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Common Stock
 3 Months Ended
Mar. 31, 2024
Common Stock [Abstract]  
Common Stock Common Stock *
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 pay nonforfeitable common stock 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 March 31
(In thousands, except per share data)20242023
Basic income per common share:
Net income attributable to Commerce Bancshares, Inc.$112,663 $119,452 
Less income allocated to nonvested restricted stock1,044 1,056 
  Net income allocated to common stock$111,619 $118,396 
Weighted average common shares outstanding129,042 130,204 
    Basic income per common share$.87 $.91 
Diluted income per common share:
Net income attributable to Commerce Bancshares, Inc.$112,663 $119,452 
Less income allocated to nonvested restricted stock1,043 1,054 
  Net income allocated to common stock$111,620 $118,398 
Weighted average common shares outstanding129,042 130,204 
Net effect of the assumed exercise of stock-based awards - based on the treasury stock method using the average market price for the respective periods144 268 
Weighted average diluted common shares outstanding129,186 130,472 
    Diluted income per common share$.86 $.91 

Unexercised stock appreciation rights of 353 thousand and 226 thousand for the three month periods ended March 31, 2024 and 2023, respectively, were excluded from the computation of diluted income per common share because their inclusion would have been anti-dilutive.

In the Annual Meeting of the Shareholders, held on April 19, 2023, a proposal to increase the shares of the Company's common stock authorized for issuance under its articles of incorporation was approved. This approval increased the authorized shares from 140,000,000 to 190,000,000.

* All prior year share and per share amounts in this note have been restated for the 5% common stock dividend distributed in December 2023.