CBSH FY 2012 Earnings Report — Commerce Bancshares, Inc. Revenue & Financial Results | Market Cap Arena

Commerce Bancshares, Inc.CBSH

FY 2012 Earnings

Reported February 22, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2012	Prior Q	FY 2011	QoQ Change	YoY Change
Revenue	$1.1B	—	—	—	—
Op. Income	$399M	—	—	—	—
Gross Margin	94.0%	—	—	—	—
Net Margin	24.9%	—	—	—	—
EPS (Diluted)	$1.61	—	—	—	—
Free Cash Flow	$348M	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$65M
GROSS PROFIT	$1.0B
R&D Expenses	$0
Selling & Marketing	$15M
General & Administrative	$467M
SG&A Expenses	$483M
Other Expenses	$136M
Operating Expenses	$618M
Cost & Expenses	$684M
OPERATING INCOME	$399M
Interest Income	$678M
Interest Expense	$38M
Other Income/Expenses	$0
INCOME BEFORE TAX	$399M
Income Tax Expense	$127M
Net Income from Continuing Ops	$271M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$269M
Net Income Deductions	-$1.0K
BOTTOM LINE NET INCOME	$267M
D&A	$43M
EBIT	$399M
EBITDA	$442M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$65M
GROSS PROFIT	$1.0B
R&D Expenses	$0
Selling & Marketing	$15M
General & Administrative	$467M
SG&A Expenses	$483M
Other Expenses	$136M
Operating Expenses	$618M
Cost & Expenses	$684M
OPERATING INCOME	$399M
Interest Income	$678M
Interest Expense	$38M
Other Income/Expenses	$0
INCOME BEFORE TAX	$399M
Income Tax Expense	$127M
Net Income from Continuing Ops	$271M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$269M
Net Income Deductions	-$1.0K
BOTTOM LINE NET INCOME	$267M
D&A	$43M
EBIT	$399M
EBITDA	$442M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$271M
Depreciation & Amortization	$43M
Stock-Based Compensation	$5M
Deferred Income Tax	$16M
Other Non-Cash Items	$59M
Change in Working Capital	-$12M
OPERATING CASH FLOW	$383M
Capital Expenditure	-$35M
Acquisitions (Net)	$0
Purchases of Investments	-$3.2B
Sales/Maturities of Investments	$3.1B
Other Investing Activities	-$1.0B
NET CASH FROM INVESTING	-$1.2B
Net Debt Issuance	-$8M
Common Stock Repurchased	-$105M
Common Dividends Paid	-$212M
Other Financing Activities	$1.4B
NET CASH FROM FINANCING	$1.0B
FREE CASH FLOW	$348M
Net Change in Cash	$262M

Balance Sheet

Item	Amount
Cash & Equivalents	$752M
Short-Term Investments	$9.5B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$10.3B
PP&E (Net)	$358M
Goodwill	$126M
Intangible Assets	$5M
Long-Term Investments	$9.8B
Tax Assets	$0
Other Non-Current Assets	$1.6B
TOTAL NON-CURRENT ASSETS	$11.9B
TOTAL ASSETS	$22.2B
Account Payables	$0
Short-Term Debt	$1.1B
Deferred Revenue	$0
Other Current Liabilities	$18.3B
TOTAL CURRENT LIABILITIES	$19.4B
Long-Term Debt	$104M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$452M
TOTAL NON-CURRENT LIABILITIES	$556M
TOTAL LIABILITIES	$20.0B
Common Stock	$459M
Additional Paid-In Capital	$1.1B
Retained Earnings	$477M
Treasury Stock	-$8M
Accum. Other Comp. Income	$136M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.2B
Minority Interest	$4M
TOTAL EQUITY	$2.2B
TOTAL LIABILITIES & EQUITY	$22.2B
Total Debt	$1.2B
Net Debt	$435M