COMMERCE BANCSHARES, INC.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $566.3M | $526.3M | $477.1M | $488.4M | $530.8M | $354.1M | $421.2M | $433.5M |
| Depreciation & Amortization | $56.5M | $54.1M | $49.5M | $46.9M | $44.9M | $43.8M | $41.1M | $38.7M |
| Depreciation | $42.1M | $40.0M | $36.1M | $32.3M | $31.9M | $32.2M | $30.8M | $28.6M |
| Amortization | $1.3M | $1.3M | $1.4M | $2.0M | $3.1M | $2.4M | $1.5M | $1.3M |
| Stock-Based Compensation | $17.3M | $17.0M | $17.1M | $17.0M | $15.4M | $14.9M | $13.9M | $12.8M |
| Net Cash from Operating Activities | $645.1M | $577.9M | $488.8M | $559.4M | $597.7M | $624.0M | $512.8M | $552.7M |
| Investing Activities | ||||||||
| Capital Expenditures | $52.7M | $46.1M | $88.1M | $65.2M | $56.7M | $33.1M | $42.6M | $33.3M |
| Business Acquisitions | $0 | $0 | $6.4M | $0 | $0 | — | — | — |
| Net Cash from Investing Activities | $-462.4M | $483.8M | $2.18B | $242.3M | $-2.08B | $-5.39B | $-730.2M | $-91.0M |
| Financing Activities | ||||||||
| Dividends Paid | $150.2M | $145.1M | $134.7M | $127.5M | $122.7M | $120.8M | $113.5M | $100.2M |
| Stock Repurchases | $207.6M | $170.5M | $76.4M | $186.6M | $129.4M | $54.2M | $134.9M | $75.2M |
| Net Cash from Financing Activities | $-11.0M | $-372.9M | $-883.1M | $-4.20B | $3.57B | $6.07B | $-84.1M | $223.3M |
| Net Change in Cash | — | — | — | — | — | — | $-301.4M | $684.9M |
| Free Cash Flow | $592.4M | $531.7M | $400.7M | $494.2M | $541.0M | $590.9M | $470.2M | $519.4M |