Fastenal (FAST) 10-Q 16 Jul 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Jun. 30, 2014	Jul. 10, 2014
Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Jun-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'
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	'	296,770,069

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$105,940	$58,506
Marketable securities	453	451
Trade accounts receivable, net of allowance for doubtful accounts of $10,588 and $9,248, respectively	502,330	414,331
Inventories	818,771	784,068
Deferred income tax assets	17,279	18,248
Prepaid income taxes	0	24,869
Other current assets	111,009	107,988
Total current assets	1,555,782	1,408,461
Property and equipment, less accumulated depreciation	714,912	654,850
Other assets, net	12,279	12,473
Total assets	2,282,973	2,075,784
Current liabilities:	'	'
Line of credit	70,000	0
Accounts payable	109,488	91,253
Accrued expenses	166,625	148,579
Income taxes payable	5,350	0
Total current liabilities	351,463	239,832
Deferred income tax liabilities	63,386	63,255
Stockholders' equity:	'	'
Preferred stock, 5,000,000 shares authorized	0	0
Common stock, 400,000,000 shares authorized, 296,764,444 and 296,753,544 shares issued and outstanding, respectively	2,968	2,968
Additional paid-in capital	70,631	69,847
Retained earnings	1,782,873	1,688,781
Accumulated other comprehensive income	11,652	11,101
Total stockholders' equity	1,868,124	1,772,697
Total liabilities and stockholders' equity	$2,282,973	$2,075,784

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified
Statement of Financial Position [Abstract]	'	'
Trade accounts receivable, allowance for doubtful accounts	$10,588	$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	296,764,444	296,753,544
Common stock, Shares outstanding	296,764,444	296,753,544

Consolidated_Statements_of_Ear

Consolidated Statements of Earnings (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Income Statement [Abstract]	'	'	'	'
Net sales	$949,938	$847,596	$1,826,439	$1,653,922
Cost of sales	467,271	404,875	895,294	789,321
Gross profit	482,667	442,721	931,145	864,601
Operating and administrative expenses	276,016	250,750	545,859	498,084
Gain on sale of property and equipment	-196	-243	-412	-456
Operating income	206,847	192,214	385,698	366,973
Interest income	129	168	249	615
Interest expense	-194	-3	-320	-37
Earnings before income taxes	206,782	192,379	385,627	367,551
Income tax expense	76,268	71,370	143,182	137,494
Net earnings	$130,514	$121,009	$242,445	$230,057
Basic net earnings per share	$0.44	$0.41	$0.82	$0.78
Diluted net earnings per share	$0.44	$0.41	$0.82	$0.77
Basic weighted average shares outstanding	296,691,232	296,778,588	296,666,992	296,711,326
Diluted weighted average shares outstanding	297,578,419	297,722,270	297,534,473	297,689,550

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Statement of Comprehensive Income [Abstract]	'	'	'	'
Net earnings	$130,514	$121,009	$242,445	$230,057
Other comprehensive income (loss), net of tax:	'	'	'	'
Foreign currency translation adjustments (net of tax of $0 in 2014 and 2013)	5,386	-3,288	549	-7,359
Change in marketable securities (net of tax of $0 in 2014 and 2013)	0	20	2	83
Comprehensive income	$135,900	$117,741	$242,996	$222,781

Consolidated_Statements_of_Com1

Consolidated Statements of Comprehensive Income (Parenthetical) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Statement of Comprehensive Income [Abstract]	'	'	'	'
Foreign currency translation adjustments, tax	$0	$0	$0	$0
Change in marketable securities, tax	$0	$0	$0	$0

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Cash flows from operating activities:	'	'
Net earnings	$242,445	$230,057
Adjustments to reconcile net earnings to net cash provided by operating activities:	'	'
Depreciation of property and equipment	35,190	30,969
Gain on sale of property and equipment	-412	-456
Bad debt expense	5,421	4,336
Deferred income taxes	1,100	-220
Stock-based compensation	3,000	2,700
Excess tax benefits from stock-based compensation	-1,488	-2,093
Amortization of non-compete agreements	263	158
Changes in operating assets and liabilities:	'	'
Trade accounts receivable	-93,420	-68,629
Inventories	-34,703	-9,724
Other current assets	-3,021	-8,515
Accounts payable	18,235	11,734
Accrued expenses	18,046	13,135
Income taxes	31,707	16,558
Other	566	-6,145
Net cash provided by operating activities	222,929	213,865
Cash flows from investing activities:	'	'
Purchases of property and equipment	-97,560	-92,561
Proceeds from sale of property and equipment	2,720	2,904
Net increase in marketable securities	-2	-83
Net (increase) decrease in other assets	-69	37
Net cash used in investing activities	-94,911	-89,703
Cash flows from financing activities:	'	'
Borrowings under line of credit	380,000	30,000
Payments against line of credit	-310,000	-30,000
Proceeds from exercise of stock options	5,143	7,118
Excess tax benefits from stock-based compensation	1,488	2,093
Purchases of common stock	-8,847	0
Payments of dividends	-148,353	-89,000
Net cash used in financing activities	-80,569	-79,789
Effect of exchange rate changes on cash	-15	-1,131
Net increase in cash and cash equivalents	47,434	43,242
Cash and cash equivalents at beginning of period	58,506	79,611
Cash and cash equivalents at end of period	105,940	122,853
Supplemental disclosure of cash flow information:	'	'
Cash paid during each period for interest	320	37
Net cash paid during each period for income taxes	$99,348	$120,716

Basis_of_Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 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	6 Months Ended
	Jun. 30, 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:
	June 30, 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	—	—
	June 30, 2013:	Total		Level 1	Level 2	Level 3
	Common stock	$	437	437	—	—
	Total available-for-sale securities	$	437	437	—	—
	There were no transfers between levels during the six and three month periods ended June 30, 2014 and 2013.
	As of June 30, 2014, December 31, 2013, and June 30, 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:
	June 30, 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
	June 30, 2013:	Amortized		Gross	Gross	Fair Value
		Cost		Unrealized	Unrealized
				Gains	Losses
	Common stock	$	197	240	—	437
	Total available-for-sale securities	$	197	240	—	437
	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
	June 30, 2014:	Amortized		Fair	Amortized	Fair
		Cost		Value	Cost	Value
	Common stock	$	197	453	—	—
	Total available-for-sale securities	$	197	453	—	—

Stockholders_Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 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		June 30,			December 31,			June 30,
				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			296,764,444			296,753,544			296,860,119
	Dividends
	On July 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 August 22, 2014 to shareholders of record at the close of business on July 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			0.25
	Fourth quarter				0.25
	Total	$	0.75		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			30-Jun-14
		Granted		Exercise				Stock Price
				(Strike)				on Date
	Date of Grant			Price				of Grant			Options			Options
											Outstanding			Exercisable
	April 22, 2014	942,500		$	56			$	50.53		912,500			—
	April 16, 2013	205,000		$	54			$	49.25		162,500			—
	April 17, 2012	1,235,000		$	54			$	49.01		1,105,000			—
	April 19, 2011	410,000		$	35			$	31.78		330,000			25,000
	April 20, 2010	530,000		$	30			$	27.13		271,050			136,050
	April 21, 2009	790,000		$	27			$	17.61		388,700			208,700
	April 15, 2008	550,000		$	27			$	24.35		185,000			127,500
	April 17, 2007	4,380,000		$	22.5			$	20.15		1,629,730			1,314,730
	Total	9,042,500									4,984,480			1,811,980
	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 22, 2014	1.8	%	5		2	%		28.55	%	$	9.57
	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 in approximately nine years.
	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 six month periods ended June 30, 2014 and 2013 was $3,000 and $2,700, respectively. Unrecognized compensation expense related to outstanding unvested stock options as of June 30, 2014 was $20,024 and is expected to be recognized over a weighted average period of 4.76 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:
		Six-month Period					Three-month Period
	Reconciliation	2014		2013			2014			2013
	Basic weighted average shares outstanding	296,666,992		296,711,326			296,691,232			296,778,588
	Weighted shares assumed upon exercise of stock options	867,481		978,224			887,187			943,682
	Diluted weighted average shares outstanding	297,534,473		297,689,550			297,578,419			297,722,270
		Six-month Period							Three-month Period
	Summary of Anti-dilutive Options Excluded	2014			2013				2014			2013
	Options to purchase shares of common stock	1,646,892			1,238,356				1,997,363			1,307,857
	Weighted average exercise prices of options	$	54.44		$	54			$	54.72		$	54
	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	6 Months Ended
	Jun. 30, 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 2011 in the case of United States federal and non-United States examinations and 2010 in the case of state and local examinations.
	As of June 30, 2014 and 2013, the Company had $3,916 and $7,660, 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	6 Months Ended
	Jun. 30, 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 $56,711. We believe the likelihood of funding the guarantee obligation under any provision of the operating lease agreements is remote, except for a $19 loss on disposal reserve provided at June 30, 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.

Commitments_and_Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies	'
	(6) Commitments and Contingencies
	Credit Facilities and Commitments
	We have an unsecured revolving credit facility totaling $170,000 which expires December 13, 2015. The facility includes a $40,000 letter of credit subfacility. At June 30, 2014 and 2013 there were undrawn letters of credit outstanding under this facility, with a face amount of $34,411 and $29,250, respectively, and there were loans outstanding under this facility of $70,000 and $0, respectively. We have the right to prepay this debt and intend to repay this amount using cash within the next twelve months; therefore, we have classified the debt as a current liability. Loans under the facility are subject to certain financial covenants, and we are currently in compliance with these covenants.
	Loans under the facility, other than swing line loans, bear interest at a rate per annum equal to, at our election, either (i) LIBOR for an interest period of one month, reset daily, plus 0.875%, or (ii) LIBOR for an interest period of one, two, three, six or twelve months as selected by us, reset at the end of the selected interest period, plus 0.875%. The outstanding loan amount at June 30, 2014 bears interest at a rate per annum equal to option (i) noted above. Swing line loans bear interest at a rate per annum equal to LIBOR for an interest period of one month, reset daily, plus 0.875%. We pay a commitment fee for the unused portion of the facility of 0.10% per annum if the average quarterly utilization of the facility is 20% or more, or 0.125% per annum if the average quarterly utilization of the facility is less than 20%. For each letter of credit issued under the facility, we pay a commission fee on the amount available to be drawn under such letter of credit equal to 0.875% per annum and, subject to certain exceptions, an issuance fee equal to 0.075% of the face amount of such letter of credit.
	Legal Contingencies
	The nature of our potential exposure to legal contingencies is described in our 2013 annual report on Form 10-K in Note 10 of the Notes to Consolidated Financial Statements. As of June 30, 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	6 Months Ended
	Jun. 30, 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'.

New_Accounting_Pronouncements

New Accounting Pronouncements	6 Months Ended
	Jun. 30, 2014
New Accounting Pronouncements [Abstract]	'
New Accounting Pronouncements	'
	(8) New Accounting Pronouncements
	On May 28, 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The new standard is effective for us on January 1, 2017. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. We are evaluating the effect that ASU 2014-09 will have on our consolidated financial statements and related disclosures. We have not yet selected a transition method nor have we determined the effect of the standard on our ongoing financial reporting.

Financial_Instruments_and_Mark1

Financial Instruments and Marketable Securities (Tables)	6 Months Ended
	Jun. 30, 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:
	June 30, 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	—	—
	June 30, 2013:	Total		Level 1	Level 2	Level 3
	Common stock	$	437	437	—	—
	Total available-for-sale securities	$	437	437	—	—
Marketable Securities Treated as Available-for-Sale Securities	'
	Marketable securities, all treated as available-for-sale securities, consist of the following:
	June 30, 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
	June 30, 2013:	Amortized		Gross	Gross	Fair Value
		Cost		Unrealized	Unrealized
				Gains	Losses
	Common stock	$	197	240	—	437
	Total available-for-sale securities	$	197	240	—	437
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
	June 30, 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)	6 Months Ended
	Jun. 30, 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		June 30,			December 31,			June 30,
				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			296,764,444			296,753,544			296,860,119
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			0.25
	Fourth quarter				0.25
	Total	$	0.75		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			30-Jun-14
		Granted		Exercise				Stock Price
				(Strike)				on Date
	Date of Grant			Price				of Grant			Options			Options
											Outstanding			Exercisable
	April 22, 2014	942,500		$	56			$	50.53		912,500			—
	April 16, 2013	205,000		$	54			$	49.25		162,500			—
	April 17, 2012	1,235,000		$	54			$	49.01		1,105,000			—
	April 19, 2011	410,000		$	35			$	31.78		330,000			25,000
	April 20, 2010	530,000		$	30			$	27.13		271,050			136,050
	April 21, 2009	790,000		$	27			$	17.61		388,700			208,700
	April 15, 2008	550,000		$	27			$	24.35		185,000			127,500
	April 17, 2007	4,380,000		$	22.5			$	20.15		1,629,730			1,314,730
	Total	9,042,500									4,984,480			1,811,980
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 22, 2014	1.8	%	5		2	%		28.55	%	$	9.57
	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:
		Six-month Period					Three-month Period
	Reconciliation	2014		2013			2014			2013
	Basic weighted average shares outstanding	296,666,992		296,711,326			296,691,232			296,778,588
	Weighted shares assumed upon exercise of stock options	867,481		978,224			887,187			943,682
	Diluted weighted average shares outstanding	297,534,473		297,689,550			297,578,419			297,722,270
Anti-Dilutive Options Excluded	'
		Six-month Period							Three-month Period
	Summary of Anti-dilutive Options Excluded	2014			2013				2014			2013
	Options to purchase shares of common stock	1,646,892			1,238,356				1,997,363			1,307,857
	Weighted average exercise prices of options	$	54.44		$	54			$	54.72		$	54

Financial_Instruments_and_Mark2

Financial Instruments and Marketable Securities - Fair Value Hierarchy of Assets Measured on Recurring Basis (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 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	$437
Level 1 [Member]	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Total available-for-sale securities	453	451	437
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	437
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	437
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		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Financial Instruments and Marketable Securities [Abstract]	'	'	'	'
Dollar value of transfers between levels	$0	$0	$0	$0

Financial_Instruments_and_Mark4

Financial Instruments and Marketable Securities - Marketable Securities Treated as Available-for-Sale Securities (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 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	240
Total available-for-sale securities, Gross Unrealized Losses	0	0	0
Total available-for-sale securities, Fair Value	453	451	437
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	240
Total available-for-sale securities, Gross Unrealized Losses	0	0	0
Total available-for-sale securities, Fair Value	$453	$451	$437

Financial_Instruments_and_Mark5

Financial Instruments and Marketable Securities - Future Maturities of Available-For-Sale Securities (Details) (USD $)	Jun. 30, 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 $)	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 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	296,764,444	296,753,544	296,860,119
Common stock, Shares outstanding	296,764,444	296,753,544	296,860,119

Stockholders_Equity_Additional

Stockholders' Equity - Additional Information (Details) (USD $)	6 Months Ended		0 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jul. 10, 2014
			Subsequent Event [Member]
Schedule of Shareholders' Equity [Line Items]	'	'	'
Dividend declared date	'	'	10-Jul-14
Dividend declared per share	'	'	$0.25
Dividends payment date	'	'	22-Aug-14
Dividends payable record date	'	'	25-Jul-14
Options vesting and exercisable period, maximum	'8 years	'	'
Options termination period	'9 years	'	'
Total stock-based compensation expense for the Fastenal stock option plan	$3,000	$2,700	'
Total unrecognized stock-based compensation expense	$20,024	'	'
Weighted average period over which total unrecognized stock-based compensation expense will be recognized	'4 years 9 months 3 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	6 Months Ended
	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2013	Jul. 10, 2014	Jul. 10, 2014
								Subsequent Event [Member]	Subsequent Event [Member]
Stockholders' Equity Note [Abstract]	'	'	'	'	'	'	'	'	'
Dividends paid per share	$0.25	$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	'	'	'	'	'	'	'	'	$0.75

Stockholders_Equity_Stock_Opti

Stockholders' Equity - Stock Options Granted (Details) (USD $)	86 Months Ended	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014
		April 22, 2014 [Member]	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	9,042,500	942,500	205,000	1,235,000	410,000	530,000	790,000	550,000	4,380,000
Option Exercise (Strike) Price	'	$56	$54	$54	$35	$30	$27	$27	$22.50
Closing Stock Price on Date of Grant	'	$50.53	$49.25	$49.01	$31.78	$27.13	$17.61	$24.35	$20.15
Options Outstanding	4,984,480	912,500	162,500	1,105,000	330,000	271,050	388,700	185,000	1,629,730
Options Exercisable	1,811,980	0	0	0	25,000	136,050	208,700	127,500	1,314,730

Stockholders_Equity_Fair_Value

Stockholders' Equity - Fair Value Assumptions for Options Granted (Details) (USD $)	6 Months Ended
	Jun. 30, 2014
April 22, 2014 [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Risk-free Interest Rate	1.80%
Expected Life of Option in Years	'5 years
Expected Dividend Yield	2.00%
Expected Stock Volatility	28.55%
Estimated Fair Value of Stock Option	$9.57
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		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Stockholders' Equity Note [Abstract]	'	'	'	'
Basic weighted average shares outstanding	296,691,232	296,778,588	296,666,992	296,711,326
Weighted shares assumed upon exercise of stock options	887,187	943,682	867,481	978,224
Diluted weighted average shares outstanding	297,578,419	297,722,270	297,534,473	297,689,550

Stockholders_Equity_Summary_of

Stockholders' Equity - Summary of Anti-Dilutive Options Excluded (Details) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Stockholders' Equity Note [Abstract]	'	'	'	'
Options to purchase shares of common stock	1,997,363	1,307,857	1,646,892	1,238,356
Weighted average exercise prices of options	$54.72	$54	$54.44	$54

Income_Taxes_Additional_Inform

Income Taxes - Additional Information (Details) (USD $)	Jun. 30, 2014	Jun. 30, 2013
In Thousands, unless otherwise specified
Income Tax Disclosure [Abstract]	'	'
Liabilities recorded related to gross unrecognized tax benefits	$3,916	$7,660

Operating_Leases_Additional_In

Operating Leases - Additional Information (Details) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 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	$56,711
Loss on disposal reserve	$19

Commitments_and_Contingencies_

Commitments and Contingencies (Details) (Unsecured Debt [Member], Revolving Credit Facility [Member], USD $)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Line of Credit Facility [Line Items]	'	'
Revolving credit facility, maximum borrowing capacity	$170,000,000	'
Line of credit, amount outstanding	70,000,000	0
Average Quarterly Utilization of Facility is Less than 20% [Member]	'	'
Line of Credit Facility [Line Items]	'	'
Percentage fee paid for unused portion of revolving credit facility	0.13%	'
Average Quarterly Utilization of Facility is 20% or More [Member]	'	'
Line of Credit Facility [Line Items]	'	'
Percentage fee paid for unused portion of revolving credit facility	0.10%	'
One-Month London Interbank Offer Rate, Reset Daily [Member]	'	'
Line of Credit Facility [Line Items]	'	'
Interest percentage over LIBOR rate	0.88%	'
One-Month, Two-Month, Three-Month, Six-Month, or Twelve-Month London Interbank Offer Rate [Member]	'	'
Line of Credit Facility [Line Items]	'	'
Interest percentage over LIBOR rate	0.88%	'
Letter of Credit Subfacility [Member]	'	'
Line of Credit Facility [Line Items]	'	'
Revolving credit facility, maximum borrowing capacity	40,000,000	'
Face amount of outstanding undrawn letters of credit	$34,411,000	$29,250,000
Percentage fee paid for unused portion of revolving credit facility	0.88%	'
Revolving credit facility, issuance fee as percent of face amount	0.08%	'
Swing Line Loan [Member] | One-Month London Interbank Offer Rate, Reset Daily [Member]	'	'
Line of Credit Facility [Line Items]	'	'
Interest percentage over LIBOR rate	0.88%	'