10-Q Filing

FASTENAL CO CIK: 815556 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0000815556-23-000021`
Period End Date	20230331
Filing Date	20230418
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	fast-20230331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 73 Income Statement 28 Cash Flow Statement 66 Stockholders Equity 14 Comprehensive Income 8

Balance Sheet 73 line items

Line Item	Tag	Value	Unit	Period
Trade accounts receivable, allowance for credit losses	`AllowanceForDoubtfulAccountsReceivableCurrent`	$6.10M	USD	Point-in-time
Trade accounts receivable, allowance for credit losses	`AllowanceForDoubtfulAccountsReceivableCurrent`	$8.30M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$230.10M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$239.80M	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 $6.1 and $8.3, respectively	`AccountsReceivableNetCurrent`	$1.01B	USD	Point-in-time
Trade accounts receivable, net of allowance for credit losses of $6.1 and $8.3, respectively	`AccountsReceivableNetCurrent`	$1.15B	USD	Point-in-time
Par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Inventories	`InventoryNet`	$1.65B	USD	Point-in-time
Authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Inventories	`InventoryNet`	$1.71B	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	-	USD	Point-in-time
Issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$8.10M	USD	Point-in-time
Issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$120.00M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$165.40M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.16B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.12B	USD	Point-in-time
Par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.00B	USD	Point-in-time
Par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.01B	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$243.00M	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`	$243.80M	USD	Point-in-time
Issued (in shares)	`CommonStockSharesIssued`	570.81M	shares	Point-in-time
Issued (in shares)	`CommonStockSharesIssued`	571.02M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$168.20M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$170.80M	USD	Point-in-time
Outstanding (in shares)	`CommonStockSharesOutstanding`	570.81M	shares	Point-in-time
Total assets	`Assets`	$4.58B	USD	Point-in-time
Outstanding (in shares)	`CommonStockSharesOutstanding`	571.02M	shares	Point-in-time
Total assets	`Assets`	$4.55B	USD	Point-in-time
Current portion of debt	`LongTermDebtCurrent`	$200.00M	USD	Point-in-time
Current portion of debt	`LongTermDebtCurrent`	$201.80M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$266.80M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$255.00M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$229.20M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$241.10M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$91.40M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$91.90M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$75.80M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$789.80M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$863.20M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$353.20M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$200.00M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$156.70M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$155.20M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$83.70M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$84.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$3.50M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$2.50M	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, 571,024,422 and 570,811,674 shares issued and outstanding, respectively	`CommonStockValue`	$5.70M	USD	Point-in-time
Common stock: $0.01 par value, 800,000,000 shares authorized, 571,024,422 and 570,811,674 shares issued and outstanding, respectively	`CommonStockValue`	$5.70M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$11.40M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$3.60M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.31B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.22B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-64.80M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-60.50M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.14B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.16B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.27B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$4.58B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$4.55B	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`	$1.86B	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$1.01B	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$910.80M	USD	1 Quarter
Gross profit	`GrossProfit`	$793.30M	USD	1 Quarter
Gross profit	`GrossProfit`	$850.00M	USD	1 Quarter
Operating and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$456.80M	USD	1 Quarter
Operating and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$435.30M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$358.00M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$393.20M	USD	1 Quarter
Interest income	`InterestAndOtherIncome`	$100.00K	USD	1 Quarter
Interest income	`InterestAndOtherIncome`	$400.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$3.90M	USD	1 Quarter
Interest expense	`InterestExpense`	$2.40M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$389.70M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$355.70M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$94.60M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$86.10M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$269.60M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$295.10M	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`	$0.52	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`	$0.52	USD	1 Quarter
Basic weighted average shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	570.93M	shares	1 Quarter
Basic weighted average shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	575.56M	shares	1 Quarter
Diluted weighted average shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	577.62M	shares	1 Quarter
Diluted weighted average shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	572.63M	shares	1 Quarter

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$269.60M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$295.10M	USD	1 Quarter
Depreciation of property and equipment	`Depreciation`	$41.20M	USD	1 Quarter
Depreciation of property and equipment	`Depreciation`	$41.80M	USD	1 Quarter
(Gain) loss on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-3.50M	USD	1 Quarter
(Gain) loss on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$600.00K	USD	1 Quarter
Bad debt recoveries	`ProvisionForDoubtfulAccounts`	$-300.00K	USD	1 Quarter
Bad debt recoveries	`ProvisionForDoubtfulAccounts`	$-1.40M	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`	$1.90M	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`	$169.90M	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$133.70M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$76.40M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-57.70M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-45.40M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-60.70M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$56.80M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$8.50M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-11.90M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-30.10M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$69.60M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$83.90M	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-100.00K	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$1.20M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$230.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$388.50M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$33.70M	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`	$2.80M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$100.00K	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$100.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-31.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-33.20M	USD	1 Quarter
Proceeds from debt obligations	`ProceedsFromIssuanceOfLongTermDebt`	$230.00M	USD	1 Quarter
Proceeds from debt obligations	`ProceedsFromIssuanceOfLongTermDebt`	$235.00M	USD	1 Quarter
Payments against debt obligations	`RepaymentsOfLongTermDebt`	$260.00M	USD	1 Quarter
Payments against debt obligations	`RepaymentsOfLongTermDebt`	$385.00M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$3.90M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$5.90M	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividends`	$178.40M	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividends`	$199.80M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-348.90M	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	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$700.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.10M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.00M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$9.70M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$234.20M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$230.10M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$239.80M	USD	Point-in-time
Cash and cash equivalents at beginning 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`	$230.10M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$239.80M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$236.20M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$5.10M	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$2.30M	USD	1 Quarter
Net cash paid for income taxes	`IncomeTaxesPaidNet`	$15.20M	USD	1 Quarter
Net cash paid for income taxes	`IncomeTaxesPaidNet`	$9.70M	USD	1 Quarter
Leased assets obtained in exchange for new operating lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$23.90M	USD	1 Quarter
Leased assets obtained in exchange for new operating lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$25.90M	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`	$3.16B	USD	Point-in-time
Balance at beginning of period	`StockholdersEquity`	$3.27B	USD	Point-in-time
Net earnings	`NetIncomeLoss`	$269.60M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$295.10M	USD	1 Quarter
Balance at end of period	`StockholdersEquity`	$3.14B	USD	Point-in-time
Balance at end of period	`StockholdersEquity`	$3.16B	USD	Point-in-time
Balance at end of period	`StockholdersEquity`	$3.27B	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`	$0.31	USD	1 Quarter
Cash dividends paid per share of common stock (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$1.24	USD	Annual
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`	$0.35	USD	1 Quarter
Cash dividends paid per share of common stock (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.31	USD	1 Quarter

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$269.60M	USD	1 Quarter
Foreign currency translation adjustments, tax	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	-	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$295.10M	USD	1 Quarter
Foreign currency translation adjustments, tax	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	-	USD	1 Quarter
Foreign currency translation adjustments (net of tax of $0.0 in 2023 and 2022)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$4.30M	USD	1 Quarter
Foreign currency translation adjustments (net of tax of $0.0 in 2023 and 2022)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$2.30M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$271.90M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$299.40M	USD	1 Quarter

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