| 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 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 12. | | | | | | | | | | | | | | | | For the Three Months Ended June 30 | | For the Six Months Ended June 30 | (In thousands, except per share data) | 2018 | 2017 | | 2018 | 2017 | Basic income per common share: | | | | | | Net income attributable to Commerce Bancshares, Inc. | $ | 110,330 |
| $ | 78,960 |
| | $ | 211,314 |
| $ | 150,464 |
| Less preferred stock dividends | 2,250 |
| 2,250 |
| | 4,500 |
| 4,500 |
| Net income available to common shareholders | 108,080 |
| 76,710 |
| | 206,814 |
| 145,964 |
| Less income allocated to nonvested restricted stock | 1,139 |
| 943 |
| | 2,260 |
| 1,888 |
| Net income allocated to common stock | $ | 106,941 |
| $ | 75,767 |
| | $ | 204,554 |
| $ | 144,076 |
| Weighted average common shares outstanding | 105,686 |
| 105,583 |
| | 105,660 |
| 105,486 |
| Basic income per common share | $ | 1.02 |
| $ | .71 |
| | $ | 1.94 |
| $ | 1.36 |
| Diluted income per common share: | | | | | | Net income available to common shareholders | $ | 108,080 |
| $ | 76,710 |
| | $ | 206,814 |
| $ | 145,964 |
| Less income allocated to nonvested restricted stock | 1,136 |
| 941 |
| | 2,254 |
| 1,883 |
| Net income allocated to common stock | $ | 106,944 |
| $ | 75,769 |
| | $ | 204,560 |
| $ | 144,081 |
| Weighted average common shares outstanding | 105,686 |
| 105,583 |
| | 105,660 |
| 105,486 |
| 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 | 343 |
| 360 |
| | 338 |
| 389 |
| Weighted average diluted common shares outstanding | 106,029 |
| 105,943 |
| | 105,998 |
| 105,875 |
| Diluted income per common share | $ | 1.01 |
| $ | .71 |
| | $ | 1.93 |
| $ | 1.36 |
|
Unexercised stock appreciation rights of 295 thousand and 132 thousand were excluded in the computation of diluted income per common share for the six month periods ended June 30, 2018 and 2017, respectively, because their inclusion would have been anti-dilutive. * All prior year share and per share amounts in this note have been restated for the 5% common stock dividend distributed in December 2017. |