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 June 30 | | For the Six Months Ended June 30 | (In thousands, except per share data) | 2025 | 2024 | | 2025 | 2024 | Basic income per common share: | | | | | | Net income attributable to Commerce Bancshares, Inc. | $ | 152,479 | | $ | 139,553 | | | $ | 284,071 | | $ | 252,216 | | Less income allocated to nonvested restricted stock | 1,461 | | 1,313 | | | 2,720 | | 2,357 | | Net income allocated to common stock | $ | 151,018 | | $ | 138,240 | | | $ | 281,351 | | $ | 249,859 | | Weighted average common shares outstanding | 132,455 | | 134,881 | | | 132,685 | | 135,187 | | Basic income per common share | $ | 1.14 | | $ | 1.03 | | | $ | 2.12 | | $ | 1.85 | | Diluted income per common share: | | | | | | Net income attributable to Commerce Bancshares, Inc. | $ | 152,479 | | $ | 139,553 | | | $ | 284,071 | | $ | 252,216 | | Less income allocated to nonvested restricted stock | 1,460 | | 1,312 | | | 2,718 | | 2,355 | | Net income allocated to common stock | $ | 151,019 | | $ | 138,241 | | | $ | 281,353 | | $ | 249,861 | | Weighted average common shares outstanding | 132,455 | | 134,881 | | | 132,685 | | 135,187 | | | | | | | | 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 | 128 | | 160 | | | 141 | | 156 | | Weighted average diluted common shares outstanding | 132,583 | | 135,041 | | | 132,826 | | 135,343 | | Diluted income per common share | $ | 1.14 | | $ | 1.03 | | | $ | 2.12 | | $ | 1.85 | |
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