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)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments847,8464,283,9092,187,892890,3941,200,353578,952
Cash and cash equivalents841,6364,276,7562,184,926887,4651,197,768511,845
Short-term investments6,2107,1532,9662,9292,58567,107
Receivables      
Total current assets:847,8464,283,9092,187,892890,3941,200,353578,952
Noncurrent Assets
Operating lease, right-of-use asset 24,90025,20028,30026,300
Property, plant and equipment418,909388,738371,083370,637333,119335,110
Long-term investments and receivables 1,4341,83418,000   
Long-term investments 1,4341,83418,000   
Intangible assets, net (including goodwill)154,155154,491150,128148,455147,715146,539
Goodwill138,921138,921138,921138,921138,921138,921
Intangible assets, net (excluding goodwill)15,23415,57011,2079,5348,7947,618
Deferred costs17,85621,79419,27816,51812,96812,843
Total noncurrent assets:617,254592,057586,789561,910493,802494,492
Other undisclosed assets30,410,83131,813,12230,148,29324,613,48523,769,68723,759,971
TOTAL ASSETS:31,875,93136,689,08832,922,97426,065,78925,463,84224,833,415
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Long-term debt and lease obligation, including:      1,800
Other undisclosed long-term debt and lease obligation      1,800
Total noncurrent liabilities:      1,800
Other undisclosed liabilities29,394,35433,240,76429,523,00222,927,31722,526,69322,113,431
Total liabilities:29,394,35433,240,76429,523,00222,927,31722,526,69322,115,231
Equity
Equity, attributable to parent, including:2,465,2913,437,2983,397,0473,134,6842,931,2982,716,560
Common stock629,319610,804589,352563,978559,432535,407
Treasury stock, value(41,743)(32,973)(32,970)(37,548)(34,236)(14,473)
Additional paid in capital2,932,9592,689,8942,436,2882,151,4642,084,8241,815,360
Accumulated other comprehensive income (loss)(1,086,864)77,080331,377110,444(64,669)14,108
Retained earnings31,62092,49373,000201,562241,163221,374
Other undisclosed equity, attributable to parent    144,784144,784144,784
Equity, attributable to noncontrolling interest16,28611,0262,9253,7885,8511,624
Total equity:2,481,5773,448,3243,399,9723,138,4722,937,1492,718,184
TOTAL LIABILITIES AND EQUITY:31,875,93136,689,08832,922,97426,065,78925,463,84224,833,415

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

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues681,557592,997630,303687,104648,940967,568
Net investment income662,440574,635615,208671,300633,133547,278
Financial services revenue420,290
Cost of revenue(19,155) (137,190)(50,438)(42,694)(45,244)
Provision for loan, lease, and other losses(19,155) (137,190)(50,438)(42,694)
Financial services costs(45,244)
Gross profit:662,402592,997493,113636,666606,246922,324
Operating expenses(183,636)(171,833)(161,704)(161,970)(152,570)(602,504)
Other operating income, net
(Noninterest Income, Other Operating Income)
44,80243,03343,84565,49651,03344,370
Operating income:523,568464,197375,254540,192504,709364,190
Nonoperating income (expense)
(Investment Income, Nonoperating)
20,50630,05911,0323,626(488)25,051
Interest and debt expense(56,794)(12,866)(42,801)(103,392)(65,376)(43,728)
Other undisclosed income from continuing operations before equity method investments, income taxes   97,69391,360105,31884,893
Income from continuing operations before equity method investments, income taxes:487,280481,390441,178531,786544,163430,406
Other undisclosed income from continuing operations before income taxes145,098204,911    
Income from continuing operations before income taxes:632,378686,301441,178531,786544,163430,406
Income tax expense(132,358)(145,711)(87,293)(109,074)(105,949)(110,506)
Income from continuing operations:500,020540,590353,885422,712438,214319,900
Income before gain (loss) on sale of properties:540,590353,885422,712438,214319,900
Net income:500,020540,590353,885422,712438,214319,900
Net income (loss) attributable to noncontrolling interest(11,621)(9,825)172(1,481)(4,672)(517)
Net income attributable to parent:488,399530,765354,057421,231433,542319,383
Preferred stock dividends and other adjustments   (11,966)(9,000)(9,000)(9,000)
Net income available to common stockholders, diluted:488,399530,765342,091412,231424,542310,383

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:500,020540,590353,885422,712438,214319,900
Other comprehensive income (loss)(1,163,944)(254,297)220,933175,113(48,389)3,133
Comprehensive income (loss):(663,924)286,293574,818597,825389,825323,033
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(11,621)(9,825)172(1,481)(4,672)(517)
Comprehensive income (loss), net of tax, attributable to parent:(675,545)276,468574,990596,344385,153322,516

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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