10-Q Filing

FASTENAL CO CIK: 815556 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0000815556-22-000020`
Period End Date	20220331
Filing Date	20220418
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	fast-20220331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 28 Cash Flow Statement 66 Stockholders Equity 14 Comprehensive Income 8

Balance Sheet 71 line items

Line Item	Tag	Value	Unit	Period
Trade accounts receivable, allowance for credit losses	`AllowanceForDoubtfulAccountsReceivableCurrent`	$12.00M	USD	Point-in-time
Trade accounts receivable, allowance for credit losses	`AllowanceForDoubtfulAccountsReceivableCurrent`	$10.90M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$236.20M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$234.20M	USD	Point-in-time
Par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Trade accounts receivable, net of allowance for credit losses of $10.9 and $12.0, respectively	`AccountsReceivableNetCurrent`	$900.20M	USD	Point-in-time
Trade accounts receivable, net of allowance for credit losses of $10.9 and $12.0, respectively	`AccountsReceivableNetCurrent`	$1.07B	USD	Point-in-time
Inventories	`InventoryNet`	$1.60B	USD	Point-in-time
Authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Inventories	`InventoryNet`	$1.52B	USD	Point-in-time
Issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$8.50M	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	-	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$188.10M	USD	Point-in-time
Outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$127.40M	USD	Point-in-time
Outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$2.86B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.03B	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.02B	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.01B	USD	Point-in-time
Par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Authorized (in shares)	`CommonStockSharesAuthorized`	800.00M	shares	Point-in-time
Authorized (in shares)	`CommonStockSharesAuthorized`	800.00M	shares	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$242.30M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$246.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$180.90M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$178.30M	USD	Point-in-time
Issued (in shares)	`CommonStockSharesIssued`	575.60M	shares	Point-in-time
Issued (in shares)	`CommonStockSharesIssued`	575.46M	shares	Point-in-time
Total assets	`Assets`	$4.47B	USD	Point-in-time
Total assets	`Assets`	$4.30B	USD	Point-in-time
Outstanding (in shares)	`CommonStockSharesOutstanding`	575.60M	shares	Point-in-time
Outstanding (in shares)	`CommonStockSharesOutstanding`	575.46M	shares	Point-in-time
Current portion of debt	`LongTermDebtCurrent`	$60.00M	USD	Point-in-time
Current portion of debt	`LongTermDebtCurrent`	$35.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$289.90M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$233.10M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$298.30M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$268.20M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$90.80M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$91.30M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$61.10M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$745.50M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$682.20M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$330.00M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$330.00M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$159.60M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$156.00M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$88.60M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$89.60M	USD	Point-in-time
Preferred stock: $0.01 par value, 5,000,000 shares authorized, no shares issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock: $0.01 par value, 5,000,000 shares authorized, no shares issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock: $0.01 par value, 800,000,000 shares authorized, 575,601,845 and 575,464,682 shares issued and outstanding, respectively	`CommonStockValue`	$5.80M	USD	Point-in-time
Common stock: $0.01 par value, 800,000,000 shares authorized, 575,601,845 and 575,464,682 shares issued and outstanding, respectively	`CommonStockValue`	$5.80M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$101.60M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$96.20M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.06B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.97B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-30.70M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-28.40M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.14B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.04B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$2.79B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$4.30B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$4.47B	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.70B	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.42B	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$773.60M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$910.80M	USD	1 Quarter
Gross profit	`GrossProfit`	$793.30M	USD	1 Quarter
Gross profit	`GrossProfit`	$643.40M	USD	1 Quarter
Operating and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$363.10M	USD	1 Quarter
Operating and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$435.30M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$358.00M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$280.30M	USD	1 Quarter
Interest income	`InterestAndOtherIncome`	-	USD	1 Quarter
Interest income	`InterestAndOtherIncome`	$100.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$2.40M	USD	1 Quarter
Interest expense	`InterestExpense`	$2.40M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$277.90M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$355.70M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$86.10M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$67.30M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$210.60M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$269.60M	USD	1 Quarter
Basic net earnings per share (in dollars per share)	`EarningsPerShareBasic`	$0.47	USD	1 Quarter
Basic net earnings per share (in dollars per share)	`EarningsPerShareBasic`	$0.37	USD	1 Quarter
Diluted net earnings per share (in dollars per share)	`EarningsPerShareDiluted`	$0.47	USD	1 Quarter
Diluted net earnings per share (in dollars per share)	`EarningsPerShareDiluted`	$0.37	USD	1 Quarter
Basic weighted average shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	574.34M	shares	1 Quarter
Basic weighted average shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	575.56M	shares	1 Quarter
Diluted weighted average shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	576.55M	shares	1 Quarter
Diluted weighted average shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	577.62M	shares	1 Quarter

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$210.60M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$269.60M	USD	1 Quarter
Depreciation of property and equipment	`Depreciation`	$39.30M	USD	1 Quarter
Depreciation of property and equipment	`Depreciation`	$41.20M	USD	1 Quarter
Loss (gain) on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-3.50M	USD	1 Quarter
Loss (gain) on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$600.00K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$-300.00K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$-100.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$300.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$1.00M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.50M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.50M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$2.70M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$2.70M	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$82.10M	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$169.90M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$76.40M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-31.10M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-16.30M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-60.70M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$56.80M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$8.10M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-6.30M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-30.10M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$53.90M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$69.60M	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-100.00K	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-100.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$230.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$274.80M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$32.70M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$35.50M	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$2.40M	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$2.70M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-100.00K	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$100.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-29.90M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-33.20M	USD	1 Quarter
Proceeds from debt obligations	`ProceedsFromIssuanceOfLongTermDebt`	$110.00M	USD	1 Quarter
Proceeds from debt obligations	`ProceedsFromIssuanceOfLongTermDebt`	$235.00M	USD	1 Quarter
Payments against debt obligations	`RepaymentsOfLongTermDebt`	$110.00M	USD	1 Quarter
Payments against debt obligations	`RepaymentsOfLongTermDebt`	$260.00M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$3.90M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$6.60M	USD	1 Quarter
Payments of dividends	`PaymentsOfDividends`	$160.80M	USD	1 Quarter
Payments of dividends	`PaymentsOfDividends`	$178.40M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-154.20M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-199.50M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$700.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-2.50M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$88.20M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.00M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$245.70M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$236.20M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$234.20M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$333.90M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$245.70M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$236.20M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$234.20M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$333.90M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$2.30M	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$2.40M	USD	1 Quarter
Net cash paid for income taxes	`IncomeTaxesPaidNet`	$15.20M	USD	1 Quarter
Net cash paid for income taxes	`IncomeTaxesPaidNet`	$12.40M	USD	1 Quarter
Leased assets obtained in exchange for new operating lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$30.90M	USD	1 Quarter
Leased assets obtained in exchange for new operating lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$23.90M	USD	1 Quarter

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance at beginning of period	`StockholdersEquity`	$3.14B	USD	Point-in-time
Balance at beginning of period	`StockholdersEquity`	$3.04B	USD	Point-in-time
Balance at beginning of period	`StockholdersEquity`	$2.79B	USD	Point-in-time
Net earnings	`NetIncomeLoss`	$210.60M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$269.60M	USD	1 Quarter
Balance at end of period	`StockholdersEquity`	$3.14B	USD	Point-in-time
Balance at end of period	`StockholdersEquity`	$3.04B	USD	Point-in-time
Balance at end of period	`StockholdersEquity`	$2.79B	USD	Point-in-time
Cash dividends paid per share of common stock (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.31	USD	1 Quarter
Cash dividends paid per share of common stock (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.28	USD	1 Quarter
Cash dividends paid per share of common stock (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.28	USD	1 Quarter
Cash dividends paid per share of common stock (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.28	USD	1 Quarter
Cash dividends paid per share of common stock (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$1.12	USD	Annual
Cash dividends paid per share of common stock (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.28	USD	1 Quarter

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Foreign currency translation adjustments, tax	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	-	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$210.60M	USD	1 Quarter
Foreign currency translation adjustments, tax	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	-	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$269.60M	USD	1 Quarter
Foreign currency translation adjustments (net of tax of $0.0 in 2022 and 2021)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-4.40M	USD	1 Quarter
Foreign currency translation adjustments (net of tax of $0.0 in 2022 and 2021)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$2.30M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$206.20M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$271.90M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.