Commerce Bancshares, Inc. (CBSH) Financial Statements (2024 and earlier)

Company Profile

Business Address 1000 WALNUT
KANSAS CITY, MO 64106
State of Incorp. MO
Fiscal Year End December 31
Industry (SIC) 6022 - State Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments2,246,6682,940,9141,699,147847,846993,2271,046,648
Cash and cash equivalents2,205,6512,935,3941,693,064841,636987,1211,040,518
Short-term investments41,0175,5206,0836,2106,1066,130
Receivables 29,40029,80032,700 39,60041,500
Total current assets:2,276,0682,970,7141,731,847847,8461,032,8271,088,148
Noncurrent Assets
Operating lease, right-of-use asset   24,900  
Property, plant and equipment460,830451,568428,169418,909407,833397,877
Long-term investments and receivables    1,4341,4341,434
Long-term investments    1,4341,4341,434
Intangible assets, net (including goodwill)160,971161,037153,839154,155154,520154,774
Goodwill146,539146,371138,921138,921138,921138,921
Intangible assets, net (excluding goodwill)14,43214,66614,91815,23415,59915,853
Deferred costs18,85919,48218,65617,85616,58817,862
Total noncurrent assets:640,660632,087600,664617,254580,375571,947
Other undisclosed assets28,459,96429,228,46129,672,34530,410,83130,989,39431,775,275
TOTAL ASSETS:31,376,69232,831,26232,004,85631,875,93132,602,59633,435,370
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Other undisclosed liabilities28,777,42630,146,03429,322,44429,394,35430,231,48930,760,057
Total liabilities:28,777,42630,146,03429,322,44429,394,35430,231,48930,760,057
Equity
Equity, attributable to parent2,581,4052,667,3582,665,5242,465,2912,351,5942,658,846
Common stock629,319629,319629,319629,319610,804610,804
Treasury stock, value(76,888)(58,389)(59,670)(41,743)(176,943)(129,588)
Additional paid in capital2,924,2112,921,3652,919,0602,932,9592,683,6312,682,161
Accumulated other comprehensive loss(1,193,534)(1,036,295)(940,498)(1,086,864)(1,119,344)(766,894)
Retained earnings298,297211,358117,31331,620353,446262,363
Equity, attributable to noncontrolling interest17,86117,87016,88816,28619,51316,467
Total equity:2,599,2662,685,2282,682,4122,481,5772,371,1072,675,313
TOTAL LIABILITIES AND EQUITY:31,376,69232,831,26232,004,85631,875,93132,602,59633,435,370

Income Statement (P&L) ($ in thousands)

12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
Revenues295,737275,514238,871211,351177,096150,202
Net investment income291,917270,837233,786206,833177,096145,134
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
(13,343)(5,864)(15,948)(12,404)(10,150)(7,162)
Gross profit:282,394269,650222,923198,947166,946143,040
Operating expenses(50,859)(48,082)(46,384)(45,184)(46,822)(45,974)
Other operating income, net
(Noninterest Income, Other Operating Income)
14,55718,03112,84215,06811,37711,557
Operating income:246,092239,599189,381168,831131,501108,623
Nonoperating income (expense)
(Investment Income, Nonoperating)
4,2983,392(306)8,9043,4101,029
Interest and debt expense(112,615)(99,125)(57,234)(31,736)(16,293)(5,769)
Income from continuing operations before equity method investments, income taxes:137,775143,866131,841145,999118,618103,883
Other undisclosed income (loss) from continuing operations before income taxes18,36422,58721,52522,15441,50548,291
Income from continuing operations before income taxes:156,139166,453153,366168,153160,123152,174
Income tax expense(33,439)(35,990)(32,813)(34,499)(33,936)(32,021)
Income from continuing operations:122,700130,463120,553133,654126,187120,153
Income before gain (loss) on sale of properties:126,187120,153
Net income:122,700130,463120,553133,654126,187120,153
Net loss attributable to noncontrolling interest(2,104)(2,674)(1,101)(2,026)(3,364)(4,359)
Net income available to common stockholders, diluted:120,596127,789119,452131,628122,823115,794

Comprehensive Income ($ in thousands)

12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
Net income:122,700130,463120,553133,654126,187120,153
Other comprehensive income (loss)(157,239)(95,797)146,36632,480(352,450)(332,494)
Comprehensive income (loss):(34,539)34,666266,919166,134(226,263)(212,341)
Comprehensive loss, net of tax, attributable to noncontrolling interest(2,104)(2,674)(1,101)(2,026)(3,364)(4,359)
Comprehensive income (loss), net of tax, attributable to parent:(36,643)31,992265,818164,108(229,627)(216,700)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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