Fastenal (FAST) 10-Q 16 Apr 14 2014 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2014	Apr. 10, 2014
Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	31-Mar-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'
Trading Symbol	'fast	'
Entity Registrant Name	'FASTENAL CO	'
Entity Central Index Key	'0000815556	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	296,639,119

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$89,021	$58,506
Marketable securities	453	451
Trade accounts receivable, net of allowance for doubtful accounts of $9,949 and $9,248, respectively	473,181	414,331
Inventories	793,987	784,068
Deferred income tax assets	17,893	18,248
Prepaid income taxes	0	24,869
Other current assets	100,957	107,988
Total current assets	1,475,492	1,408,461
Property and equipment, less accumulated depreciation	677,295	654,850
Other assets, net	12,319	12,473
Total assets	2,165,106	2,075,784
Current liabilities:	'	'
Accounts payable	105,697	91,253
Accrued expenses	148,569	148,579
Income taxes payable	47,260	0
Total current liabilities	301,526	239,832
Deferred income tax liabilities	63,256	63,255
Stockholders' equity:	'	'
Preferred stock, 5,000,000 shares authorized	0	0
Common stock, 400,000,000 shares authorized, 296,624,319 and 296,753,544 shares issued and outstanding, respectively	2,966	2,968
Additional paid-in capital	64,573	69,847
Retained earnings	1,726,519	1,688,781
Accumulated other comprehensive income	6,266	11,101
Total stockholders' equity	1,800,324	1,772,697
Total liabilities and stockholders' equity	$2,165,106	$2,075,784

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified
Statement of Financial Position [Abstract]	'	'
Trade accounts receivable, allowance for doubtful accounts	$9,949	$9,248
Preferred stock, Shares authorized	5,000,000	5,000,000
Common stock, Shares authorized	400,000,000	400,000,000
Common stock, Shares issued	296,624,319	296,753,544
Common stock, Shares outstanding	296,624,319	296,753,544

Consolidated_Statements_of_Ear

Consolidated Statements of Earnings (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Income Statement [Abstract]	'	'
Net sales	$876,501	$806,326
Cost of sales	428,023	384,446
Gross profit	448,478	421,880
Operating and administrative expenses	269,843	247,334
Gain on sale of property and equipment	-216	-213
Operating income	178,851	174,759
Interest income	120	447
Interest expense	-126	-34
Earnings before income taxes	178,845	175,172
Income tax expense	66,914	66,124
Net earnings	$111,931	$109,048
Basic net earnings per share	$0.38	$0.37
Diluted net earnings per share	$0.38	$0.37
Basic weighted average shares outstanding	296,641,994	296,643,014
Diluted weighted average shares outstanding	297,495,170	297,651,960

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Statement of Comprehensive Income [Abstract]	'	'
Net earnings	$111,931	$109,048
Other comprehensive income (loss), net of tax:	'	'
Foreign currency translation adjustments (net of tax of $0 in 2014 and 2013)	-4,837	-4,072
Change in marketable securities (net of tax of $0 in 2014 and 2013)	2	63
Comprehensive income	$107,096	$105,039

Consolidated_Statements_of_Com1

Consolidated Statements of Comprehensive Income (Parenthetical) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Statement of Comprehensive Income [Abstract]	'	'
Foreign currency translation adjustments, tax	$0	$0
Change in marketable securities, tax	$0	$0

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Cash flows from operating activities:	'	'
Net earnings	$111,931	$109,048
Adjustments to reconcile net earnings to net cash provided by operating activities:	'	'
Depreciation of property and equipment	17,281	15,152
Gain on sale of property and equipment	-216	-213
Bad debt expense	2,796	2,045
Deferred income taxes	356	379
Stock-based compensation	1,380	1,350
Excess tax benefits from stock-based compensation	-550	-954
Amortization of non-compete agreements	132	26
Changes in operating assets and liabilities:	'	'
Trade accounts receivable	-61,646	-48,619
Inventories	-9,919	14,899
Other current assets	7,031	13,478
Accounts payable	6,444	-2,692
Accrued expenses	-10	-64
Income taxes	72,679	60,001
Other	-4,391	-3,592
Net cash provided by operating activities	143,298	160,244
Cash flows from investing activities:	'	'
Purchases of property and equipment	-32,564	-55,513
Proceeds from sale of property and equipment	1,054	1,267
Increase in marketable securities	-2	-63
Net decrease (increase) in other assets	22	-3
Net cash used in investing activities	-31,490	-54,312
Cash flows from financing activities:	'	'
Borrowings under line of credit	140,000	20,000
Payments against line of credit	-140,000	-20,000
Proceeds from exercise of stock options	1,641	2,821
Excess tax benefits from stock-based compensation	550	954
Purchases of common stock	-8,847	0
Payment of dividends	-74,193	-29,662
Net cash used in financing activities	-80,849	-25,887
Effect of exchange rate changes on cash	-444	-416
Net increase in cash and cash equivalents	30,515	79,629
Cash and cash equivalents at beginning of period	58,506	79,611
Cash and cash equivalents at end of period	89,021	159,240
Supplemental disclosure of cash flow information:	'	'
Cash paid during each period for interest	70	34
Net cash (received) paid during each period for income taxes	($6,216)	$6,502

Basis_of_Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Basis of Presentation	'
	(1) Basis of Presentation
	The accompanying unaudited consolidated financial statements of Fastenal Company and subsidiaries (collectively referred to as the Company, Fastenal, or by terms such as we, our, or us) have been prepared in accordance with United States generally accepted accounting principles for interim financial information. They do not include all information and footnotes required by United States generally accepted accounting principles for complete financial statements. However, except as described herein, there has been no material change in the information disclosed in the notes to consolidated financial statements included in our consolidated financial statements as of and for the year ended December 31, 2013. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included.

Financial_Instruments_and_Mark

Financial Instruments and Marketable Securities	3 Months Ended
	Mar. 31, 2014
Financial Instruments and Marketable Securities [Abstract]	'
Financial Instruments and Marketable Securities	'
	(2) Financial Instruments and Marketable Securities
	Due to the varying short-term cash needs of our business, we periodically have marketable securities. We value these assets utilizing a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities (Level 1) and the lowest priority to measurements involving unobservable inputs (Level 3). The three levels of the fair value hierarchy and how they are determined are defined in our 2013 annual report on Form 10-K in Note 1 of the Notes to Consolidated Financial Statements.
	The following table presents the placement in the fair value hierarchy of assets that are measured at fair value on a recurring basis:
	March 31, 2014:	Total		Level 1	Level 2	Level 3
	Common stock	$	453	453	—	—
	Total available-for-sale securities	$	453	453	—	—
	December 31, 2013:	Total		Level 1	Level 2	Level 3
	Common stock	$	451	451	—	—
	Total available-for-sale securities	$	451	451	—	—
	March 31, 2013:	Total		Level 1	Level 2	Level 3
	Common stock	$	417	417	—	—
	Total available-for-sale securities	$	417	417	—	—
	There were no transfers between levels during the three month periods ended March 31, 2014 and 2013.
	As of March 31, 2014, December 31, 2013, and March 31, 2013, our financial assets that are measured at fair value on a recurring basis consisted of common stock.
	Marketable securities, all treated as available-for-sale securities, consist of the following:
	March 31, 2014:	Amortized		Gross	Gross	Fair Value
		Cost		Unrealized	Unrealized
				Gains	Losses
	Common stock	$	197	256	—	453
	Total available-for-sale securities	$	197	256	—	453
	December 31, 2013:	Amortized		Gross	Gross	Fair Value
		Cost		Unrealized	Unrealized
				Gains	Losses
	Common stock	$	197	254	—	451
	Total available-for-sale securities	$	197	254	—	451
	March 31, 2013:	Amortized		Gross	Gross	Fair Value
		Cost		Unrealized	Unrealized
				Gains	Losses
	Common stock	$	197	220	—	417
	Total available-for-sale securities	$	197	220	—	417
	The unrealized gains and losses recorded in accumulated other comprehensive income and the realized gains and losses recorded in earnings were immaterial during the periods reported in these consolidated financial statements.
	Future maturities of our available-for-sale securities consist of the following:
		Less than 12 Months			Greater than 12 Months
	March 31, 2014:	Amortized		Fair	Amortized	Fair
		Cost		Value	Cost	Value
	Common stock	$	197	453	—	—
	Total available-for-sale securities	$	197	453	—	—

Stockholders_Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2014
Stockholders' Equity Note [Abstract]	'
Stockholders' Equity	'
	(3) Stockholders’ Equity
	Our authorized, issued, and outstanding shares (stated in whole numbers) consist of the following:
		Par Value		March 31,			December 31,			March 31,
				2014			2013			2013
	Preferred stock	$0.01	/share
	Shares authorized			5,000,000			5,000,000			5,000,000
	Shares issued and outstanding			—			—			—
	Common stock	$0.01	/share
	Shares authorized			400,000,000			400,000,000			400,000,000
	Shares issued and outstanding			296,624,319			296,753,544			296,686,427
	Dividends
	On April 10, 2014, our board of directors declared a dividend of $0.25 per share of common stock. This dividend is to be paid in cash on May 23, 2014 to shareholders of record at the close of business on April 25, 2014. Since 2011 we have paid quarterly dividends. Our board of directors expects to continue paying quarterly dividends, provided the future determination as to payment of dividends will depend on the financial needs of the Company and such other factors as deemed relevant by the board of directors.
	The following table presents the dividends either paid previously or declared by our board of directors for future payment:
		2014			2013
	First quarter	$	0.25		$	0.1
	Second quarter	0.25			0.2
	Third quarter				0.25
	Fourth quarter				0.25
	Total	$	0.5		$	0.8
	Stock Options
	The following tables summarize the details of grants made under our stock option plan that are still outstanding, and the assumptions used to value these options. All options granted were effective at the close of business on the date of grant.
		Options		Option				Closing			31-Mar-14
		Granted		Exercise				Stock Price
				(Strike)				on Date
	Date of Grant			Price				of Grant			Options		Options
											Outstanding		Exercisable
	April 16, 2013	205,000		$	54			$	49.25		172,500		—
	April 17, 2012	1,235,000		$	54			$	49.01		1,115,000		—
	April 19, 2011	410,000		$	35			$	31.78		340,000		25,000
	April 20, 2010	530,000		$	30			$	27.13		300,000		—
	April 21, 2009	790,000		$	27			$	17.61		411,600		171,600
	April 15, 2008	550,000		$	27			$	24.35		197,500		103,750
	April 17, 2007	4,380,000		$	22.5			$	20.15		1,719,255		1,071,255
	Total	8,100,000									4,255,855		1,371,605
	Date of Grant	Risk-free		Expected Life of		Expected			Expected		Estimated Fair
		Interest Rate		Option in Years		Dividend			Stock		Value of Stock
						Yield			Volatility		Option
	April 16, 2013	0.7	%	5		1.6	%		37.42	%	$	12.66
	April 17, 2012	0.9	%	5		1.4	%		39.25	%	$	13.69
	April 19, 2011	2.1	%	5		1.6	%		39.33	%	$	11.2
	April 20, 2010	2.6	%	5		1.5	%		39.1	%	$	8.14
	April 21, 2009	1.9	%	5		1	%		38.8	%	$	3.64
	April 15, 2008	2.7	%	5		1	%		30.93	%	$	7.75
	April 17, 2007	4.6	%	4.85		1	%		31.59	%	$	5.63
	All of the options in the tables above vest and become exercisable over a period of up to eight years. Each option will terminate, to the extent not previously exercised, 13 months after the end of the relevant vesting period.
	The fair value of each share-based option is estimated on the date of grant using a Black-Scholes valuation method that uses the assumptions listed above. The expected life is the average length of time over which we expect the employee groups will exercise their options, which is based on historical experience with similar grants. Expected volatilities are based on the movement of our stock over the most recent historical period equivalent to the expected life of the option. The risk-free interest rate is based on the U.S. Treasury rate over the expected life at the time of grant. The dividend yield is estimated over the expected life based on our current dividend payout, historical dividends paid, and expected future cash dividends.
	Compensation expense equal to the grant date fair value is recognized for all of these awards over the vesting period. The stock-based compensation expense for the three month periods ended March 31, 2014 and 2013 was $1,380 and $1,350, respectively. Unrecognized compensation expense related to outstanding unvested stock options as of March 31, 2014 was $14,709 and is expected to be recognized over a weighted average period of 4.06 years. Any future changes in estimated forfeitures will impact this amount.
	Earnings Per Share
	The following tables present a reconciliation of the denominators used in the computation of basic and diluted earnings per share and a summary of the options to purchase shares of common stock which were excluded from the diluted earnings calculation because they were anti-dilutive:
		Three-month Period
	Reconciliation	2014		2013
	Basic weighted average shares outstanding	296,641,994		296,643,014
	Weighted shares assumed upon exercise of stock options	853,176		1,008,946
	Diluted weighted average shares outstanding	297,495,170		297,651,960
		Three-month Period
	Summary of Anti-dilutive Options Excluded	2014		2013
	Options to purchase shares of common stock	1,292,528		1,168,083
	Weighted average exercise prices of options	$54.00		$54.00
	Any dilutive impact summarized above relates to periods when the average market price of our stock exceeded the exercise price of the potentially dilutive option securities then outstanding.

Income_Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2014
Income Tax Disclosure [Abstract]	'
Income Taxes	'
	(4) Income Taxes
	Fastenal, or one of its subsidiaries, files income tax returns in the United States federal jurisdiction, numerous states, and various local and foreign jurisdictions. With limited exceptions, we are no longer subject to income tax examinations by taxing authorities for taxable years before 2010 in the case of United States federal and non-United States examinations and 2009 in the case of state and local examinations.
	As of March 31, 2014 and 2013, the Company had $3,916 and $7,661, respectively, of liabilities recorded related to gross unrecognized tax benefits. Included in this liability for unrecognized tax benefits is an immaterial amount for interest and penalties, both of which we classify as a component of income tax expense. The Company does not anticipate its total unrecognized tax benefits will change significantly during the next 12 months.

Operating_Leases

Operating Leases	3 Months Ended
	Mar. 31, 2014
Leases, Operating [Abstract]	'
Operating Leases	'
	(5) Operating Leases
	We lease certain pick-up trucks under operating leases. These leases have a non-cancellable lease term of one year, with renewal options for up to 72 months. The pick-up truck leases include an early buy out clause we generally exercise, thereby giving the leases an effective term of 28-36 months. Certain operating leases for vehicles contain residual value guarantee provisions which would become due at the expiration of the operating lease agreement if the fair value of the leased vehicles is less than the guaranteed residual value. The aggregate residual value guarantee related to these leases is approximately $52,826. We believe the likelihood of funding the guarantee obligation under any provision of the operating lease agreements is remote, except for a $28 loss on disposal reserve provided at March 31, 2014. Our fleet also contains vehicles we estimate will settle at a gain. Gains on these vehicles will be recognized when we sell or dispose of the vehicle or at the end of the lease term.

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Contingencies	'
	(6) Contingencies
	As of March 31, 2014 there were no litigation matters that we consider to be probable or reasonably possible to have a material adverse outcome.

Subsequent_Events

Subsequent Events	3 Months Ended
	Mar. 31, 2014
Subsequent Events [Abstract]	'
Subsequent Events	'
	(7) Subsequent Events
	We evaluated all subsequent event activity and concluded that no subsequent events have occurred that would require recognition in the financial statements or disclosure in the notes to the financial statements, with the exception of the dividend disclosed in Note (3) 'Stockholders' Equity' and an increase in the total amount of our credit facility with Wells Fargo Bank, National Association, described in Note (10) 'Commitments and Contingencies' to our 2013 annual report on Form 10-K. The facility was amended on April 15, 2014 to increase the revolving credit commitment of the Lenders from $125 million to $170 million, with the letter of credit subfacility unchanged at $40 million, and to modify one of the financial covenants contained in the facility.

Financial_Instruments_and_Mark1

Financial Instruments and Marketable Securities (Tables)	3 Months Ended
	Mar. 31, 2014
Financial Instruments and Marketable Securities [Abstract]	'
Fair Value Hierarchy of Assets Measured on Recurring Basis	'
	The following table presents the placement in the fair value hierarchy of assets that are measured at fair value on a recurring basis:
	March 31, 2014:	Total		Level 1	Level 2	Level 3
	Common stock	$	453	453	—	—
	Total available-for-sale securities	$	453	453	—	—
	December 31, 2013:	Total		Level 1	Level 2	Level 3
	Common stock	$	451	451	—	—
	Total available-for-sale securities	$	451	451	—	—
	March 31, 2013:	Total		Level 1	Level 2	Level 3
	Common stock	$	417	417	—	—
	Total available-for-sale securities	$	417	417	—	—
Marketable Securities Treated as Available-for-Sale Securities	'
	Marketable securities, all treated as available-for-sale securities, consist of the following:
	March 31, 2014:	Amortized		Gross	Gross	Fair Value
		Cost		Unrealized	Unrealized
				Gains	Losses
	Common stock	$	197	256	—	453
	Total available-for-sale securities	$	197	256	—	453
	December 31, 2013:	Amortized		Gross	Gross	Fair Value
		Cost		Unrealized	Unrealized
				Gains	Losses
	Common stock	$	197	254	—	451
	Total available-for-sale securities	$	197	254	—	451
	March 31, 2013:	Amortized		Gross	Gross	Fair Value
		Cost		Unrealized	Unrealized
				Gains	Losses
	Common stock	$	197	220	—	417
	Total available-for-sale securities	$	197	220	—	417
Future Maturities of Available-For-Sale Securities	'
	Future maturities of our available-for-sale securities consist of the following:
		Less than 12 Months			Greater than 12 Months
	March 31, 2014:	Amortized		Fair	Amortized	Fair
		Cost		Value	Cost	Value
	Common stock	$	197	453	—	—
	Total available-for-sale securities	$	197	453	—	—

Stockholders_Equity_Tables

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2014
Stockholders' Equity Note [Abstract]	'
Authorized, Issued, and Outstanding Shares	'
	Our authorized, issued, and outstanding shares (stated in whole numbers) consist of the following:
		Par Value		March 31,			December 31,			March 31,
				2014			2013			2013
	Preferred stock	$0.01	/share
	Shares authorized			5,000,000			5,000,000			5,000,000
	Shares issued and outstanding			—			—			—
	Common stock	$0.01	/share
	Shares authorized			400,000,000			400,000,000			400,000,000
	Shares issued and outstanding			296,624,319			296,753,544			296,686,427
Schedule of Dividends Paid Previously or Declared	'
	The following table presents the dividends either paid previously or declared by our board of directors for future payment:
		2014			2013
	First quarter	$	0.25		$	0.1
	Second quarter	0.25			0.2
	Third quarter				0.25
	Fourth quarter				0.25
	Total	$	0.5		$	0.8
Stock Options Granted	'
	The following tables summarize the details of grants made under our stock option plan that are still outstanding, and the assumptions used to value these options. All options granted were effective at the close of business on the date of grant.
		Options		Option				Closing			31-Mar-14
		Granted		Exercise				Stock Price
				(Strike)				on Date
	Date of Grant			Price				of Grant			Options		Options
											Outstanding		Exercisable
	April 16, 2013	205,000		$	54			$	49.25		172,500		—
	April 17, 2012	1,235,000		$	54			$	49.01		1,115,000		—
	April 19, 2011	410,000		$	35			$	31.78		340,000		25,000
	April 20, 2010	530,000		$	30			$	27.13		300,000		—
	April 21, 2009	790,000		$	27			$	17.61		411,600		171,600
	April 15, 2008	550,000		$	27			$	24.35		197,500		103,750
	April 17, 2007	4,380,000		$	22.5			$	20.15		1,719,255		1,071,255
	Total	8,100,000									4,255,855		1,371,605
Fair Value Assumptions for Options Granted	'
	Date of Grant	Risk-free		Expected Life of		Expected			Expected		Estimated Fair
		Interest Rate		Option in Years		Dividend			Stock		Value of Stock
						Yield			Volatility		Option
	April 16, 2013	0.7	%	5		1.6	%		37.42	%	$	12.66
	April 17, 2012	0.9	%	5		1.4	%		39.25	%	$	13.69
	April 19, 2011	2.1	%	5		1.6	%		39.33	%	$	11.2
	April 20, 2010	2.6	%	5		1.5	%		39.1	%	$	8.14
	April 21, 2009	1.9	%	5		1	%		38.8	%	$	3.64
	April 15, 2008	2.7	%	5		1	%		30.93	%	$	7.75
	April 17, 2007	4.6	%	4.85		1	%		31.59	%	$	5.63
Reconciliation of Denominators used in Computation of Basic and Diluted Earnings Per Share	'
	The following tables present a reconciliation of the denominators used in the computation of basic and diluted earnings per share and a summary of the options to purchase shares of common stock which were excluded from the diluted earnings calculation because they were anti-dilutive:
		Three-month Period
	Reconciliation	2014		2013
	Basic weighted average shares outstanding	296,641,994		296,643,014
	Weighted shares assumed upon exercise of stock options	853,176		1,008,946
	Diluted weighted average shares outstanding	297,495,170		297,651,960
Anti-Dilutive Options Excluded	'
		Three-month Period
	Summary of Anti-dilutive Options Excluded	2014		2013
	Options to purchase shares of common stock	1,292,528		1,168,083
	Weighted average exercise prices of options	$54.00		$54.00

Financial_Instruments_and_Mark2

Financial Instruments and Marketable Securities - Fair Value Hierarchy of Assets Measured on Recurring Basis (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Total available-for-sale securities	$453	$451	$417
Level 1 [Member]	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Total available-for-sale securities	453	451	417
Level 2 [Member]	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Total available-for-sale securities	0	0	0
Level 3 [Member]	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Total available-for-sale securities	0	0	0
Common stock [Member]	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Total available-for-sale securities	453	451	417
Common stock [Member] | Level 1 [Member]	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Total available-for-sale securities	453	451	417
Common stock [Member] | Level 2 [Member]	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Total available-for-sale securities	0	0	0
Common stock [Member] | Level 3 [Member]	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Total available-for-sale securities	$0	$0	$0

Financial_Instruments_and_Mark3

Financial Instruments and Marketable Securities - Additional Information (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Financial Instruments and Marketable Securities [Abstract]	'	'
Dollar value of transfers between levels	$0	$0

Financial_Instruments_and_Mark4

Financial Instruments and Marketable Securities - Marketable Securities Treated as Available-for-Sale Securities (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified
Schedule of Available-for-sale Securities [Line Items]	'	'	'
Total available-for-sale securities, Amortized Cost	$197	$197	$197
Total available-for-sale securities, Gross Unrealized Gains	256	254	220
Total available-for-sale securities, Gross Unrealized Losses	0	0	0
Total available-for-sale securities, Fair Value	453	451	417
Common stock [Member]	'	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'	'
Total available-for-sale securities, Amortized Cost	197	197	197
Total available-for-sale securities, Gross Unrealized Gains	256	254	220
Total available-for-sale securities, Gross Unrealized Losses	0	0	0
Total available-for-sale securities, Fair Value	$453	$451	$417

Financial_Instruments_and_Mark5

Financial Instruments and Marketable Securities - Future Maturities of Available-For-Sale Securities (Details) (USD $)	Mar. 31, 2014
In Thousands, unless otherwise specified
Schedule of Available-for-sale Securities [Line Items]	'
Available-for-sale securities, Amortized Cost, Maturities Less than 12 Months	$197
Available-for-sale securities, Fair Value, Maturities Less than 12 Months	453
Available-for-sale securities, Amortized Cost, Maturities Greater than 12 Months	0
Available-for-sale securities, Fair Value, Maturities Greater than 12 Months	0
Common stock [Member]	'
Schedule of Available-for-sale Securities [Line Items]	'
Available-for-sale securities, Amortized Cost, Maturities Less than 12 Months	197
Available-for-sale securities, Fair Value, Maturities Less than 12 Months	453
Available-for-sale securities, Amortized Cost, Maturities Greater than 12 Months	0
Available-for-sale securities, Fair Value, Maturities Greater than 12 Months	$0

Stockholders_Equity_Authorized

Stockholders' Equity - Authorized, Issued, and Outstanding Shares (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013
Stockholders' Equity Note [Abstract]	'	'	'
Preferred stock, Par Value per share	$0.01	$0.01	$0.01
Preferred stock, Shares authorized	5,000,000	5,000,000	5,000,000
Preferred stock, Shares issued	0	0	0
Preferred stock, Shares outstanding	0	0	0
Common stock, Par Value per share	$0.01	$0.01	$0.01
Common stock, Shares authorized	400,000,000	400,000,000	400,000,000
Common stock, Shares issued	296,624,319	296,753,544	296,686,427
Common stock, Shares outstanding	296,624,319	296,753,544	296,686,427

Stockholders_Equity_Additional

Stockholders' Equity - Additional Information (Details) (USD $)	3 Months Ended		0 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Apr. 10, 2014
			Subsequent Event [Member]
Schedule of Shareholders' Equity [Line Items]	'	'	'
Dividend declared date	'	'	10-Apr-14
Dividend declared per share	'	'	$0.25
Dividends payment date	'	'	23-May-14
Dividends payable record date	'	'	25-Apr-14
Options vesting and exercisable period, maximum (in years)	'8 years	'	'
Options termination period after the end of the relevant vesting period (in months)	'13 months	'	'
Total stock-based compensation expense for the Fastenal stock option plan	$1,380	$1,350	'
Total unrecognized stock-based compensation expense	$14,709	'	'
Weighted average period over which total unrecognized stock-based compensation expense will be recognized (in years)	'4 years 0 months 21 days	'	'

Stockholders_Equity_Schedule_o

Stockholders' Equity - Schedule of Dividends Paid Previously or Declared (Details) (USD $)	3 Months Ended					12 Months Ended	0 Months Ended	3 Months Ended
	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2013	Apr. 10, 2014	Apr. 10, 2014
							Subsequent Event [Member]	Subsequent Event [Member]
Stockholders' Equity Note [Abstract]	'	'	'	'	'	'	'	'
Dividends paid per share	$0.25	$0.25	$0.25	$0.20	$0.10	$0.80	'	'
Subsequent Event [Line Items]	'	'	'	'	'	'	'	'
Dividend declared per share	'	'	'	'	'	'	$0.25	'
Dividend paid previously or declared, per share	'	'	'	'	'	'	'	$0.50

Stockholders_Equity_Stock_Opti

Stockholders' Equity - Stock Options Granted (Details) (USD $)	83 Months Ended	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014
		April 16, 2013 [Member]	April 17, 2012 [Member]	April 19, 2011 [Member]	April 20, 2010 [Member]	April 21, 2009 [Member]	April 15, 2008 [Member]	April 17, 2007 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'	'	'	'	'
Options Granted	8,100,000	205,000	1,235,000	410,000	530,000	790,000	550,000	4,380,000
Option Exercise (Strike) Price	'	$54	$54	$35	$30	$27	$27	$22.50
Closing Stock Price on Date of Grant	'	$49.25	$49.01	$31.78	$27.13	$17.61	$24.35	$20.15
Options Outstanding	4,255,855	172,500	1,115,000	340,000	300,000	411,600	197,500	1,719,255
Options Exercisable	1,371,605	0	0	25,000	0	171,600	103,750	1,071,255

Stockholders_Equity_Fair_Value

Stockholders' Equity - Fair Value Assumptions for Options Granted (Details) (USD $)	3 Months Ended
	Mar. 31, 2014
April 16, 2013 [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Risk-free Interest Rate	0.70%
Expected Life of Option in Years	'5 years
Expected Dividend Yield	1.60%
Expected Stock Volatility	37.42%
Estimated Fair Value of Stock Option	$12.66
April 17, 2012 [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Risk-free Interest Rate	0.90%
Expected Life of Option in Years	'5 years
Expected Dividend Yield	1.40%
Expected Stock Volatility	39.25%
Estimated Fair Value of Stock Option	$13.69
April 19, 2011 [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Risk-free Interest Rate	2.10%
Expected Life of Option in Years	'5 years
Expected Dividend Yield	1.60%
Expected Stock Volatility	39.33%
Estimated Fair Value of Stock Option	$11.20
April 20, 2010 [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Risk-free Interest Rate	2.60%
Expected Life of Option in Years	'5 years
Expected Dividend Yield	1.50%
Expected Stock Volatility	39.10%
Estimated Fair Value of Stock Option	$8.14
April 21, 2009 [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Risk-free Interest Rate	1.90%
Expected Life of Option in Years	'5 years
Expected Dividend Yield	1.00%
Expected Stock Volatility	38.80%
Estimated Fair Value of Stock Option	$3.64
April 15, 2008 [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Risk-free Interest Rate	2.70%
Expected Life of Option in Years	'5 years
Expected Dividend Yield	1.00%
Expected Stock Volatility	30.93%
Estimated Fair Value of Stock Option	$7.75
April 17, 2007 [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Risk-free Interest Rate	4.60%
Expected Life of Option in Years	'4 years 10 months 6 days
Expected Dividend Yield	1.00%
Expected Stock Volatility	31.59%
Estimated Fair Value of Stock Option	$5.63

Stockholders_Equity_Reconcilia

Stockholders' Equity - Reconciliation of Denominators used in Computation of Basic and Diluted Earnings Per Share (Details)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Stockholders' Equity Note [Abstract]	'	'
Basic weighted average shares outstanding	296,641,994	296,643,014
Weighted shares assumed upon exercise of stock options	853,176	1,008,946
Diluted weighted average shares outstanding	297,495,170	297,651,960

Stockholders_Equity_Summary_of

Stockholders' Equity - Summary of Anti-Dilutive Options Excluded (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Stockholders' Equity Note [Abstract]	'	'
Options to purchase shares of common stock	1,292,528	1,168,083
Weighted average exercise prices of options	$54	$54

Income_Taxes_Additional_Inform

Income Taxes - Additional Information (Details) (USD $)	Mar. 31, 2014	Mar. 31, 2013
In Thousands, unless otherwise specified
Income Tax Disclosure [Abstract]	'	'
Liabilities recorded related to gross unrecognized tax benefits	$3,916	$7,661

Operating_Leases_Additional_In

Operating Leases - Additional Information (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014
Leases, Operating [Abstract]	'
Term of non-cancellable pick-up truck leases (in years)	'1 year
Renewal options for non-cancellable pick-up truck leases, maximum (in months)	'72 months
Average pick-up truck lease term, minimum (in months)	'28 months
Average pick-up truck lease term, maximum (in months)	'36 months
Aggregate residual value guarantee	$52,826
Loss on disposal reserve	$28

Subsequent_Events_Details

Subsequent Events (Details) (Unsecured Debt [Member], USD $)	Dec. 31, 2013	Apr. 15, 2014	Apr. 15, 2014
In Millions, unless otherwise specified	Revolving Credit Facility [Member]	Revolving Credit Facility [Member]	Letter of Credit Subfacility [Member]
		Subsequent Event [Member]	Subsequent Event [Member]
Subsequent Event [Line Items]	'	'	'
Credit facility, maximum borrowing capacity	$125	$170	$40