Common Stock (Tables)

3 Months Ended

Mar. 31, 2024

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 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)	2024		2023
Basic income per common share:
Net income attributable to Commerce Bancshares, Inc.	$	112,663	$	119,452
Less income allocated to nonvested restricted stock	1,044		1,056
Net income allocated to common stock	$	111,619	$	118,396
Weighted average common shares outstanding	129,042		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 stock	1,043		1,054
Net income allocated to common stock	$	111,620	$	118,398
Weighted average common shares outstanding	129,042		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 periods	144		268
Weighted average diluted common shares outstanding	129,186		130,472
Diluted income per common share	$	.86	$	.91