Fastenal (FAST) 10-Q 17 Apr 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	Apr. 13, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Trading Symbol	fast
Entity Registrant Name	FASTENAL CO
Entity Central Index Key	815556
Current Fiscal Year End Date	-19
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		293,955,044

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Current assets:
Cash and cash equivalents	$120,790	$114,496
Trade accounts receivable, net of allowance for doubtful accounts of $13,316 and $12,619, respectively	521,094	462,077
Inventories	867,922	869,224
Deferred income tax assets	21,578	21,765
Other current assets	97,563	115,703
Total current assets	1,628,947	1,583,265
Property and equipment, less accumulated depreciation	783,151	763,889
Other assets, net	11,839	11,948
Total assets	2,423,937	2,359,102
Current liabilities:
Line of credit	125,000	90,000
Accounts payable	132,234	103,909
Accrued expenses	168,943	174,002
Income taxes payable	66,186	7,442
Total current liabilities	492,363	375,353
Deferred income tax liabilities	68,761	68,532
Stockholders' equity:
Preferred stock, 5,000,000 shares authorized	0	0
Common stock, 400,000,000 shares authorized, 293,955,044 and 295,867,844 shares issued and outstanding, respectively	2,940	2,959
Additional paid-in capital	0	33,744
Retained earnings	1,887,159	1,886,350
Accumulated other comprehensive loss	-27,286	-7,836
Total stockholders' equity	1,862,813	1,915,217
Total liabilities and stockholders' equity	$2,423,937	$2,359,102

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, except Share data, unless otherwise specified
Statement of Financial Position [Abstract]
Trade accounts receivable, allowance for doubtful accounts	$13,316	$12,619
Preferred stock, shares authorized	5,000,000	5,000,000
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	293,955,044	295,867,844
Common stock, shares outstanding	293,955,044	295,867,844

Consolidated_Statements_of_Ear

Consolidated Statements of Earnings (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Income Statement [Abstract]
Net sales	$953,317	$876,501
Cost of sales	469,267	428,023
Gross profit	484,050	448,478
Operating and administrative expenses	280,387	269,843
Gain on sale of property and equipment	-108	-216
Operating income	203,771	178,851
Interest income	99	120
Interest expense	-358	-126
Earnings before income taxes	203,512	178,845
Income tax expense	75,906	66,914
Net earnings	$127,606	$111,931
Basic net earnings per share	$0.43	$0.38
Diluted net earnings per share	$0.43	$0.38
Basic weighted average shares outstanding	295,237,625	296,641,994
Diluted weighted average shares outstanding	295,936,718	297,495,170

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Statement of Comprehensive Income [Abstract]
Net earnings	$127,606	$111,931
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments (net of tax of $0 in 2015 and 2014)	-19,450	-4,837
Change in marketable securities (net of tax of $0 in 2015 and 2014)	0	2
Comprehensive income	$108,156	$107,096

Consolidated_Statements_of_Com1

Consolidated Statements of Comprehensive Income (Parenthetical) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
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, 2015	Mar. 31, 2014
Cash flows from operating activities:
Net earnings	$127,606	$111,931
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation of property and equipment	19,412	17,281
Gain on sale of property and equipment	-108	-216
Bad debt expense	2,883	2,796
Deferred income taxes	416	356
Stock-based compensation	1,620	1,380
Excess tax benefits from stock-based compensation	-451	-550
Amortization of non-compete agreements	132	132
Changes in operating assets and liabilities:
Trade accounts receivable	-66,065	-61,646
Inventories	-5,151	-9,919
Other current assets	18,140	7,031
Accounts payable	28,325	6,444
Accrued expenses	-5,059	-10
Income taxes	59,195	72,679
Other	-790	-4,391
Net cash provided by operating activities	180,105	143,298
Cash flows from investing activities:
Purchases of property and equipment	-43,922	-32,564
Proceeds from sale of property and equipment	1,663	1,054
Net increase in marketable securities	0	-2
Net (increase) decrease in other assets	-23	22
Net cash used in investing activities	-42,282	-31,490
Cash flows from financing activities:
Borrowings under line of credit	175,000	140,000
Payments against line of credit	-140,000	-140,000
Proceeds from exercise of stock options	2,080	1,641
Excess tax benefits from stock-based compensation	451	550
Purchases of common stock	-81,865	-8,847
Payments of dividends	-82,846	-74,193
Net cash used in financing activities	-127,180	-80,849
Effect of exchange rate changes on cash and cash equivalents	-4,349	-444
Net increase in cash and cash equivalents	6,294	30,515
Cash and cash equivalents at beginning of period	114,496	58,506
Cash and cash equivalents at end of period	120,790	89,021
Supplemental disclosure of cash flow information:
Cash paid during each period for interest	358	70
Net cash paid (received) during each period for income taxes	$16,292	($6,216)

Basis_of_Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2015
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 U.S. generally accepted accounting principles (GAAP) for interim financial information. They do not include all information and footnotes required by U.S. GAAP 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, 2014. 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, 2015
Investments, Debt and Equity 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 2014 annual report on Form 10-K in Note 1 of the Notes to Consolidated Financial Statements.

Stockholders_Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2015
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,
				2015			2014			2014
	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			293,955,044			295,867,844			296,624,319
	Dividends
	On April 13, 2015, our board of directors declared a dividend of $0.28 per share of common stock. This dividend is to be paid in cash on May 26, 2015 to shareholders of record at the close of business on April 28, 2015. 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:
		2015			2014
	First quarter	$	0.28		0.25
	Second quarter	0.28			0.25
	Third quarter				0.25
	Fourth quarter				0.25
	Total	$	0.56		1
	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 grants. All options granted were effective at the close of business on the date of grant.
		Options		Option				Closing			March 31, 2015
		Granted		Exercise				Stock Price
				(Strike)				on Date
	Date of Grant			Price				of Grant			Options		Options
											Outstanding		Exercisable
	April 22, 2014	955,000		$	56			$	50.53		840,000		—
	April 16, 2013	205,000		$	54			$	49.25		140,000		—
	April 17, 2012	1,235,000		$	54			$	49.01		1,070,000		243,750
	April 19, 2011	410,000		$	35			$	31.78		320,000		60,000
	April 20, 2010	530,000		$	30			$	27.13		232,300		102,300
	April 21, 2009	790,000		$	27			$	17.61		317,850		175,350
	April 15, 2008	550,000		$	27			$	24.35		170,250		115,250
	April 17, 2007	4,380,000		$	22.5			$	20.15		1,489,730		1,188,480
	Total	9,055,000									4,580,130		1,885,130
	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 approximately nine years after the date of grant.
	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 risk-free interest rate is based on the U.S. Treasury rate over the expected life of the option at the time of grant. 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. The dividend yield is estimated over the expected life of the option based on our current dividend payout, historical dividends paid, and expected future cash dividends. Expected volatilities are based on the movement of our stock over the most recent historical period equivalent to the expected life of the option.
	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, 2015 and 2014 was $1,620 and $1,380, respectively. Unrecognized compensation expense related to outstanding unvested stock options as of March 31, 2015 was $14,440 and is expected to be recognized over a weighted average period of 4.52 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	2015		2014
	Basic weighted average shares outstanding	295,237,625		296,641,994
	Weighted shares assumed upon exercise of stock options	699,093		853,176
	Diluted weighted average shares outstanding	295,936,718		297,495,170
		Three-month Period
	Summary of Anti-dilutive Options Excluded	2015			2014
	Options to purchase shares of common stock	2,066,000			1,292,528
	Weighted average exercise prices of options	$	54.82		$	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	3 Months Ended
	Mar. 31, 2015
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, all 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 foreign examinations and 2010 in the case of state and local examinations.
	As of March 31, 2015 and 2014, the Company had $4,122 and $3,916, 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 twelve months.

Operating_Leases

Operating Leases	3 Months Ended
	Mar. 31, 2015
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 pick-up trucks contain residual value guarantee provisions which would generally 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 $62,418. We believe the likelihood of funding the guarantee obligation under any provision of the operating lease agreements is remote other than where we have established an accrual for estimated losses, which is immaterial at March 31, 2015. To the extent our fleet contains vehicles we estimate will settle at a gain, such gains on these vehicles will be recognized when we sell the vehicle.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	(6) Commitments and Contingencies
	Credit Facilities and Commitments
	We have a $230,000 unsecured revolving credit facility which expires December 31, 2016. The facility includes a $45,000 letter of credit subfacility. At March 31, 2015 and 2014, there were undrawn letters of credit outstanding under this facility with a face amount of $37,233 and $34,376, respectively, of which there were loans outstanding under this facility of $125,000 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 swingline 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 March 31, 2015 bears interest at a rate per annum equal to option (i) noted above. Given the LIBOR rate at March 31, 2015, our effective per annum interest rate at quarter end was approximately 1.1%. Swingline 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 2014 annual report on Form 10-K in Note 10 of the Notes to Consolidated Financial Statements. As of March 31, 2015, 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, 2015
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 consolidated financial statements or disclosure in the notes to the consolidated financial statements, with the exception of the dividend disclosed in Note (3) 'Stockholders' Equity', and certain amendments to our unsecured revolving credit facility, the terms of which, as in effect at March 31, 2015, are described in Note (6) 'Commitments and Contingencies'. The facility was amended on April 13, 2015 to increase the revolving credit commitment of the Lenders from $230,000 to $400,000, with the letter of credit subfacility remaining unchanged at $45,000, to increase the interest rate margin on revolving credit loans and the commission fee on the amount available to be drawn under letters of credit from 0.875% per annum to 1.0% per annum, and to modify certain of the financial covenants contained in the facility.

New_and_Proposed_Accounting_Pr

New and Proposed Accounting Pronouncements	3 Months Ended
	Mar. 31, 2015
New Accounting Pronouncements [Abstract]
New and Proposed Accounting Pronouncements	(8) New and Proposed Accounting Pronouncements
	New Accounting Pronouncements
	In April 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, which amends the threshold for a disposal to qualify as discontinued operations and requires new disclosures for individually material disposal transactions that do not meet the definition of a discontinued operation. Under the new standard, companies report discontinued operations when they have a disposal that represents a strategic shift that has or will have a major impact on operations or financial results. This ASU will be applied prospectively and was effective for interim and annual periods after December 15, 2014. This ASU is not expected to have a material impact on our consolidated financial statements.
	In May 2014, the FASB issued ASU 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. This 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 adoption is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. We are evaluating the effect this ASU 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.
	Proposed Accounting Pronouncements
	In May 2013, the FASB reissued an exposure draft on lease accounting which would require entities to recognize right-of-use (ROU) assets and lease liabilities arising from lease contracts on the balance sheet. However, subsequent accounting for the ROU asset and presentation of lease expense will depend on whether the lease is classified as Type A (most capital leases under current U.S. GAAP) or Type B (most operating leases under current U.S. GAAP). We consider our leases to be primarily Type B leases which will generally have straight-line recognition of total lease expense. We have not yet determined the impact the adoption of this proposed standard will have on our consolidated financial statements. As of March 31, 2015, we lease approximately 90% of our store locations, five of our distribution and packaging facilities, two of our manufacturing facilities, and a signficant portion of our distribution fleet.

Stockholders_Equity_Tables

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2015
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,
				2015			2014			2014
	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			293,955,044			295,867,844			296,624,319
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:
		2015			2014
	First quarter	$	0.28		0.25
	Second quarter	0.28			0.25
	Third quarter				0.25
	Fourth quarter				0.25
	Total	$	0.56		1
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 grants. All options granted were effective at the close of business on the date of grant.
		Options		Option				Closing			March 31, 2015
		Granted		Exercise				Stock Price
				(Strike)				on Date
	Date of Grant			Price				of Grant			Options		Options
											Outstanding		Exercisable
	April 22, 2014	955,000		$	56			$	50.53		840,000		—
	April 16, 2013	205,000		$	54			$	49.25		140,000		—
	April 17, 2012	1,235,000		$	54			$	49.01		1,070,000		243,750
	April 19, 2011	410,000		$	35			$	31.78		320,000		60,000
	April 20, 2010	530,000		$	30			$	27.13		232,300		102,300
	April 21, 2009	790,000		$	27			$	17.61		317,850		175,350
	April 15, 2008	550,000		$	27			$	24.35		170,250		115,250
	April 17, 2007	4,380,000		$	22.5			$	20.15		1,489,730		1,188,480
	Total	9,055,000									4,580,130		1,885,130
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:
		Three-month Period
	Reconciliation	2015		2014
	Basic weighted average shares outstanding	295,237,625		296,641,994
	Weighted shares assumed upon exercise of stock options	699,093		853,176
	Diluted weighted average shares outstanding	295,936,718		297,495,170
Anti-Dilutive Options Excluded
		Three-month Period
	Summary of Anti-dilutive Options Excluded	2015			2014
	Options to purchase shares of common stock	2,066,000			1,292,528
	Weighted average exercise prices of options	$	54.82		$	54

Stockholders_Equity_Authorized

Stockholders' Equity - Authorized, Issued, and Outstanding Shares (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014
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	293,955,044	295,867,844	296,624,319
Common stock, Shares outstanding	293,955,044	295,867,844	296,624,319

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, 2015	Mar. 31, 2014	Apr. 13, 2015
Schedule of Shareholders' Equity [Line Items]
Options vesting and exercisable period, maximum	8 years
Options termination period	9 years
Total stock-based compensation expense for the Fastenal stock option plan	$1,620	$1,380
Total unrecognized stock-based compensation expense	$14,440
Weighted average period over which total unrecognized stock-based compensation expense will be recognized	4 years 6 months 7 days
Subsequent Event [Member]
Schedule of Shareholders' Equity [Line Items]
Dividend declared date			13-Apr-15
Dividend declared per share			$0.28
Dividend payment date			26-May-15
Dividend payable record date			28-Apr-15

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, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2014	Apr. 13, 2015	Apr. 13, 2015
Stockholders' Equity Note [Abstract]
Dividends paid per share	$0.28	$0.25	$0.25	$0.25	$0.25	$1
Subsequent Event [Member]
Subsequent Event [Line Items]
Dividend declared per share							$0.28
Dividends paid previously or declared, per share								$0.56

Stockholders_Equity_Stock_Opti

Stockholders' Equity - Stock Options Granted (Details) (USD $)	95 Months Ended	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Granted	9,055,000
Options Outstanding	4,580,130	4,580,130
Options Exercisable	1,885,130	1,885,130
April 22, 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Granted		955,000
Option Exercise (Strike) Price		$56
Closing Stock Price on Date of Grant	50.53	$50.53
Options Outstanding	840,000	840,000
Options Exercisable	0	0
April 16, 2013 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Granted		205,000
Option Exercise (Strike) Price		$54
Closing Stock Price on Date of Grant	49.25	$49.25
Options Outstanding	140,000	140,000
Options Exercisable	0	0
April 17, 2012 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Granted		1,235,000
Option Exercise (Strike) Price		$54
Closing Stock Price on Date of Grant	49.01	$49.01
Options Outstanding	1,070,000	1,070,000
Options Exercisable	243,750	243,750
April 19, 2011 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Granted		410,000
Option Exercise (Strike) Price		$35
Closing Stock Price on Date of Grant	31.78	$31.78
Options Outstanding	320,000	320,000
Options Exercisable	60,000	60,000
April 20, 2010 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Granted		530,000
Option Exercise (Strike) Price		$30
Closing Stock Price on Date of Grant	27.13	$27.13
Options Outstanding	232,300	232,300
Options Exercisable	102,300	102,300
April 21, 2009 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Granted		790,000
Option Exercise (Strike) Price		$27
Closing Stock Price on Date of Grant	17.61	$17.61
Options Outstanding	317,850	317,850
Options Exercisable	175,350	175,350
April 15, 2008 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Granted		550,000
Option Exercise (Strike) Price		$27
Closing Stock Price on Date of Grant	24.35	$24.35
Options Outstanding	170,250	170,250
Options Exercisable	115,250	115,250
April 17, 2007 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Granted		4,380,000
Option Exercise (Strike) Price		$22.50
Closing Stock Price on Date of Grant	20.15	$20.15
Options Outstanding	1,489,730	1,489,730
Options Exercisable	1,188,480	1,188,480

Stockholders_Equity_Fair_Value

Stockholders' Equity - Fair Value Assumptions for Options Granted (Details) (USD $)	3 Months Ended
	Mar. 31, 2015
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
	Mar. 31, 2015	Mar. 31, 2014
Stockholders' Equity Note [Abstract]
Basic weighted average shares outstanding	295,237,625	296,641,994
Weighted shares assumed upon exercise of stock options	699,093	853,176
Diluted weighted average shares outstanding	295,936,718	297,495,170

Stockholders_Equity_Summary_of

Stockholders' Equity - Summary of Anti-Dilutive Options Excluded (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Stockholders' Equity Note [Abstract]
Options to purchase shares of common stock	2,066,000	1,292,528
Weighted average exercise prices of options	$54.82	$54

Income_Taxes_Additional_Inform

Income Taxes - Additional Information (Details) (USD $)	Mar. 31, 2015	Mar. 31, 2014
In Thousands, unless otherwise specified
Income Tax Disclosure [Abstract]
Liabilities recorded related to gross unrecognized tax benefits	$4,122	$3,916

Operating_Leases_Additional_In

Operating Leases - Additional Information (Details) (Leased Vehicles [Member], USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015
Property Subject to or Available for Operating Lease [Line Items]
Term of non-cancellable pick-up leases	1 year
Aggregate residual value guarantee	$62,418
Minimum [Member]
Property Subject to or Available for Operating Lease [Line Items]
Average pick-up lease term	28 months
Maximum [Member]
Property Subject to or Available for Operating Lease [Line Items]
Renewal options for non-cancellable pick-up leases, maximum	72 months
Average pick-up lease term	36 months

Commitments_and_Contingencies_

Commitments and Contingencies (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014
Line of Credit Facility [Line Items]
Line of credit, amount outstanding	$125,000,000	$90,000,000
Unsecured Debt [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Revolving credit facility, maximum borrowing capacity	230,000,000
Revolving credit facility, expiration date	31-Dec-16
Line of credit, amount outstanding	125,000,000		0
Interest percentage over LIBOR rate	0.88%
Effective interest rate during period on outstanding loans	1.10%
Unsecured Debt [Member] | Revolving Credit Facility [Member] | Average Quarterly Utilization of Facility is Less than 20% [Member]
Line of Credit Facility [Line Items]
Percentage fee paid for undrawn portion of revolving credit facility	0.13%
Unsecured Debt [Member] | Revolving Credit Facility [Member] | Average Quarterly Utilization of Facility is 20% or More [Member]
Line of Credit Facility [Line Items]
Percentage fee paid for undrawn portion of revolving credit facility	0.10%
Unsecured Debt [Member] | Revolving Credit Facility [Member] | One-Month London Interbank Offer Rate, Reset Daily [Member]
Line of Credit Facility [Line Items]
Interest percentage over LIBOR rate	0.88%
Unsecured Debt [Member] | Revolving Credit Facility [Member] | One-Month, Two-Month, Three-Month, Six-Month, or Twelve-Month London Interbank Offer Rate, Reset at End of Selected Interest Period [Member]
Line of Credit Facility [Line Items]
Interest percentage over LIBOR rate	0.88%
Unsecured Debt [Member] | Revolving Credit Facility [Member] | Letter of Credit Subfacility [Member]
Line of Credit Facility [Line Items]
Revolving credit facility, maximum borrowing capacity	45,000,000
Face amount of outstanding undrawn letters of credit	$37,233,000		$34,376,000
Letter of credit subfacility, commission fee as a percent of face amount	0.88%
Letter of credit subfacility, issuance fee as a percent of face amount	0.08%
Unsecured Debt [Member] | Revolving Credit Facility [Member] | 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%

Subsequent_Events_Additional_I

Subsequent Events Additional Information (Details) (Unsecured Debt [Member], Revolving Credit Facility [Member], USD $)	3 Months Ended	0 Months Ended
	Mar. 31, 2015	Apr. 13, 2015
Subsequent Event [Line Items]
Revolving credit facility, maximum borrowing capacity	$230,000,000
Interest percentage over LIBOR rate	0.88%
Subsequent Event [Member]
Subsequent Event [Line Items]
Revolving credit facility, maximum borrowing capacity		400,000,000
Interest percentage over LIBOR rate		1.00%
Letter of Credit Subfacility [Member]
Subsequent Event [Line Items]
Revolving credit facility, maximum borrowing capacity	45,000,000
Letter of credit subfacility, commission fee as a percent of face amount	0.88%
Letter of Credit Subfacility [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Revolving credit facility, maximum borrowing capacity		$45,000,000
Letter of credit subfacility, commission fee as a percent of face amount		1.00%